Main Article Content
Abstract
The discussion examined the relationship between local financial management, public policy, policy implementation, and their impact on local development. The focus of this discussion is on four main themes, namely financial inclusion, monetary policy, local financial strategies, and the role of the Small and Medium Enterprise (SME) sector. Through policy implementation analysis and a narrative approach, managerial and theoretical implications of each theme have been identified. The managerial implications highlight the importance of integrating public policies, considering monetary policy, developing human resources and infrastructure, adopting national industrial policies, and supporting the development of the SME sector in regional financial management strategies. Meanwhile, the theoretical implications emphasize the importance of understanding public policy, policy implementation, the role of the SME sector, and external factors in achieving the objectives of regional financial management and local development. This discussion provides important insights for practitioners and researchers in designing better public policies and optimizing regional financial management.
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References
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References
Abbott, A., Cabral, R., Jones, P., & Palacios, R. (2015). Political pressure and procyclical expenditure: An analysis of the expenditures of state governments in Mexico. European Journal of Political Economy, 37, 195–206. https://doi.org/https://doi.org/10.1016/j.ejpoleco.2014.12.001
Ammari, A., Allodi, E., Salerno, D., & Stella, G. P. (2023). An asymmetrical approach to understanding consumer characteristics in banking trust during the COVID-19 pandemic in Italy. Research in International Business and Finance, 64, 101903. https://doi.org/https://doi.org/10.1016/j.ribaf.2023.101903
Austin, A., & Rahman, I. U. (2022). A triple helix of market failures: Financing the 3Rs of the circular economy in European SMEs. Journal of Cleaner Production, 361, 132284. https://doi.org/https://doi.org/10.1016/j.jclepro.2022.132284
Baldoni, E., Coderoni, S., D’Orazio, M., Di Giuseppe, E., & Esposti, R. (2021). From cost-optimal to nearly Zero Energy Buildings’ renovation: Life Cycle Cost comparisons under alternative macroeconomic scenarios. Journal of Cleaner Production, 288, 125606. https://doi.org/https://doi.org/10.1016/j.jclepro.2020.125606
Bassano, C., Barile, S., Piciocchi, P., Spohrer, J. C., Iandolo, F., & Fisk, R. (2019). Storytelling about places: Tourism marketing in the digital age. Cities, 87, 10–20. https://doi.org/https://doi.org/10.1016/j.cities.2018.12.025
Bickley, S. J., Brumpton, M., Chan, H. F., Colthurst, R., & Torgler, B. (2021). The stabilizing effect of social distancing: Cross-country differences in financial market response to COVID-19 pandemic policies. Research in International Business and Finance, 58(August 2020), 101471. https://doi.org/10.1016/j.ribaf.2021.101471
Bragelien, J. J., & Voldsund, K. H. (2023). Entrepreneurship education through sustainable value creation – exploring a project introducing circular economy. Procedia Computer Science, 219, 1920–1929. https://doi.org/https://doi.org/10.1016/j.procs.2023.01.491
Chen, S., Wang, Y., Albitar, K., & Huang, Z. (2021). Does ownership concentration affect corporate environmental responsibility engagement? The mediating role of corporate leverage. Borsa Istanbul Review, 21, S13–S24. https://doi.org/https://doi.org/10.1016/j.bir.2021.02.001
Chen, Z., Lv, B., & Liu, Y. (2019). Financial development and the composition of government expenditure: Theory and cross-country evidence. International Review of Economics & Finance, 64, 600–611. https://doi.org/https://doi.org/10.1016/j.iref.2019.09.006
Crawford, J., & Irving, C. (2011). 3 - Information literacy in the workplace and the employability agenda. In G. Walton & A. B. T.-I. L. Pope (Eds.), Chandos Information Professional Series (pp. 45–70). Chandos Publishing. https://doi.org/https://doi.org/10.1016/B978-1-84334-610-4.50003-3
Fölster, S., & Henrekson, M. (2006). Growth effects of government expenditure and taxation in rich countries: A reply. European Economic Review, 50(1), 219–221. https://doi.org/https://doi.org/10.1016/j.euroecorev.2005.02.007
García Lara, J. M., Penalva, J., & Scapin, M. (2022). Financial reporting quality effects of imposing (gender) quotas on boards of directors. Journal of Accounting and Public Policy, 41(2), 106921. https://doi.org/https://doi.org/10.1016/j.jaccpubpol.2021.106921
Lima, J. C. F., Torkomian, A. L. V., Pereira, S. C. F., Oprime, P. C., & Hashiba, L. H. (2021). Socioeconomic Impacts of University–Industry Collaborations–A Systematic Review and Conceptual Model. Journal of Open Innovation: Technology, Market, and Complexity, 7(2), 137. https://doi.org/https://doi.org/10.3390/joitmc7020137
Mear, F., & Werner, R. A. (2021). Subsidiarity as secret of success: “Hidden Champion” SMEs and subsidiarity as winning HRM configuration in interdisciplinary case studies. Employee Relations: The International Journal, 43(2), 524–554. https://doi.org/10.1108/ER-03-2020-0141
Mounier-Jack, S., Bell, S., Chantler, T., Edwards, A., Yarwood, J., Gilbert, D., & Paterson, P. (2020). Organisational factors affecting performance in delivering influenza vaccination to staff in NHS Acute Hospital Trusts in England: A qualitative study. Vaccine, 38(15), 3079–3085. https://doi.org/https://doi.org/10.1016/j.vaccine.2020.02.077
Ronaldo, R., & Suryanto, T. (2022). Green finance and sustainability development goals in Indonesian Fund Village. Resources Policy, 78, 102839. https://doi.org/https://doi.org/10.1016/j.resourpol.2022.102839
Ullah, A., Pinglu, C., Ullah, S., Zaman, M., & Hashmi, S. H. (2020). The nexus between capital structure, firm-specific factors, macroeconomic factors and financial performance in the textile sector of Pakistan. Heliyon, 6(8), e04741. https://doi.org/https://doi.org/10.1016/j.heliyon.2020.e04741
Urquía-Grande, E., Estébanez, R. P., & Alcaraz-Quiles, F. J. (2022). Impact of Non-Profit Organizations’ Accountability: Empirical evidence from the democratic Republic of Congo. World Development Perspectives, 28, 100462. https://doi.org/https://doi.org/10.1016/j.wdp.2022.100462
Yagi, M., & Kokubu, K. (2020). A framework of sustainable consumption and production from the production perspective: Application to Thailand and Vietnam. Journal of Cleaner Production, 276, 124160. https://doi.org/https://doi.org/10.1016/j.jclepro.2020.124160