Transcript Document

Public Procurement and Public Budgets –
Management and Transparency
Aleš Michl
Portfolio Strategist
[email protected]
www.rb.cz/modelove-portfolio
September 2011
Prague – Changchun
7 653 km
80’s in Changchun
Now!
China was the biggest economy in the
world for almost all of the past 2000 years
China failed to keep pace with the
Europe/US in the Industrial Revolution
Source: Paul Kennedy/The Rise and Fall of the Great Powers, 1987.
CEO Marchionne: “Fiat would perform
better without its loss-making Italian plants”
Advanced Economies: Central
Government Public Debts (in % of GDP)
World
War 2
NOW
Source: Reinhart/Sbrancia: The Liquidation of Government Debt,
Working Paper NBER, March 2011.
http://www.nber.org/papers/w16893.pdf
Czech republic
Global Competitiveness Report 2011
Source: World Economic Forum, 2011
Czech republic
Unit Labor Cost indicators by economic activity
Unit Labor Cost - Total Economy (2005=100)
125
Unit Labor Cost - Industry (2005=100)
120
Unit Labor Cost - Construction (2005=100)
115
110
105
100
95
90
85
Source: OECD
Q4-2010
Q3-2010
Q2-2010
Q1-2010
Q4-2009
Q3-2009
Q2-2009
Q1-2009
Q4-2008
Q3-2008
Q2-2008
Q1-2008
Q4-2007
Q3-2007
Q2-2007
80
The UK government's new
transparency intitiatives
A letter from PM David Cameron to Government departments on
plans to open up Government data (31 May 2010):
“New items of central government spending over £25,000 to be
published online from November 2010.”
“All new central government contracts to be published in full from
January 2011.”
“New items of local government spending over £500 to be
published on a council-by-council basis from January 2011.”
Source: http://www.number10.gov.uk/news/letter-to-governmentdepartments-on-opening-up-data/
If we fail to keep pace with China Industrial
Revolution…
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