REFRAMING THE “RULES OF THE GAME”: THROUGH GOVERNANCE, TRANSPARENCY AND FISCAL RESPONSIBILITY

Abstract

This article provides an overview of the key research findings of thestudy on Fiscal Responsibility performed by the Center for Public andCorporate Governance. The study places emphasis on the role ofgovernance practices and fiscal results; transparent and open governance;the capabilities of public institutions; the legal and regulatoryframework; proper alignment between strategic planning, budget formulationand evaluation; the transparency and accountability of publicaffairs and, the economic development of Puerto Rico. The aim ofthe study is to analyze the government of Puerto Rico’s fiscal and economicpractices in the context of governance, with special emphasison the following variables: fiscal policy, economic policy, governmentbudget revenues and expenditures, budget results, public debt andthe Gross Domestic Product (GDP), Gross National Product (GNP) andeconomic development. The study was conducted by: Eneida Torres,Rafael Durand, César Sobrino, Mari Glory Gonzalez, Alba López, SaúlPratts and Ramón Torres.