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Public Financial Management June News Roundup

 

July 5, 2017

Interesting June developments about public financial management, country development and government technology, found by the FreeBalance Strategy and Innovation Group.

BUDGET CLASSIFICATIONS IMPORTANT FOR SDGS: International Budget Partnership shows that incorporating SDGs within budget classifications is an important lesson learned. FreeBalance provides more information in blog posthttp://www.internationalbudget.org/wp-content/uploads/tracking-spending-sustainable-development-goals-ibp-budget-brief-2017.pdf

OPEN DATA AND CORRUPTION: Different forms of open government to handle different forms of corruption. http://thegovlab.org/using-open-data-to-combat-corruption-2/

BLOCKCHAIN IS TRIPLE-ENTRY BOOKKEEPING: Are “shared ledgers” the most important accounting innovation in the last 500 years? https://hackernoon.com/why-everyone-missed-the-most-important-invention-in-the-last-500-years-c90b0151c169

ARE POOR COUNTRIES DOOMED TO CONTINUOUS POVERTY? Good governance is important, it’s not everything. https://www.cgdev.org/blog/do-weak-governments-doom-developing-countries-poverty

WOMEN MATTER: Report from the Women and Foreign Policy program, highlights linkage between women’s economic participation and prosperity.
https://www.cfr.org/blog-post/building-inclusive-economies

DATA-DRIVEN PUBLIC FINANCIALS TRANSFORMATION: More evidence of linkage between evidence and decision making
http://www.publicfinanceinternational.org/news/2017/06/public-budgeting-verge-data-driven-transformation

PFM IS KEY TO STABILITY AND GROWTH: Accrual accounting, integrated reporting to be embraced, efforts to cooperative on a more coherent international tax system that prevents avoidance and evasion and a consistent and transparent regulatory environment.
http://www.publicfinanceinternational.org/news/2017/06/good-governance-and-pfm-key-stability-and-growth-says-ifac-ahead-g20

ARTIFICIAL INTELLIGENCE TO THE RESCUE FOR GOVERNMENT INEFFICIENCIES? Deloitte finds that AI could save US federal government between $9.6B and $37B a year.
http://deloitte.wsj.com/cio/2017/05/31/artificial-intelligence-in-government/

ANALYSIS OF GOVERNMENT SPENDING HISTORY: Large increase in government spending in 20th century with social protection, education & health expenditures, and recent increases in Public Private Partnership financing.
https://ourworldindata.org/public-spending/

GOVERNMENT PEACE INDEX:  “The global level of peace has slightly improved this year by 0.28 per cent, with 93 countries improving, while 68 countries deteriorated.”

Highlights:

  • Economic impact of conflict in 2016 it was $14.3 trillion or 12.6% of world GDP, at $1,953 for every person in the world
  • On average, violence accounts for 37% of GDP in the ten least peaceful countries, compared to only 3% for the ten most peaceful
  • Decreasing violence by just 10% would lead to $1.43tn in extra resources, that could be used for aid, to prevent climate change or encourage investment in countries

http://visionofhumanity.org/app/uploads/2017/06/GPI-2017-Report-1.pdf

 

THE GOVERNANCE GAP: Lack of trust in government. http://blogs.worldbank.org/governance/governance-gap-can-we-bridge-it

CITIZEN-CENTRIC DIGITAL TRANSFORMATION LESSONS LEARNED: T4G shares 5 lessons learned in government digital transformation. http://www.itbusiness.ca/news/how-five-governments-pursued-digital-transformation-and-what-you-can-learn-from-them/91668

DIGITAL IN GOVERNMENT: IBM provides 10 recommendations for systemic change in government to enable digital transformation. http://diginomica.com/2017/06/26/ibm-government-needs-systemic-change-not-just-digital-projects/

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Doug Hadden

Doug Hadden

Executive Vice President, Innovation at FreeBalance
Doug is responsible for identifying new global markets, new technologies and trends, and new and enhanced internal processes. Doug leads a cross-functional international team that is responsible for developing product prototypes and innovative go-to-market strategies.
Doug Hadden

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