RECONSTRUCTION OF REGIONAL ECONOMIC DEVELOPMENT THROUGH THE ISSUANCE OF REGIONAL BONDS IN THE CAPITAL MARKET IN THE PERSPECTIVE OF REGIONAL AUTONOMY
This study aims to investigate the strategy of issuing regional bonds as a potential financial instrument to support regional economic development through the capital market, focusing on the perspective of regional autonomy in Indonesia. Through an in-depth analysis of local bond issuance regulations and practices, this study will explore how local governments can leverage these instruments to strengthen local funding sources to support infrastructure development and other economic initiatives. In addition, the study will also identify the main challenges local governments face in using regional bonds as an alternative to financing, including complex regulations, institutional readiness, and risk factors such as moral hazard and potential corruption. In particular, this study will reconstruct the legal framework that regulates the issuance of regional bonds by highlighting aspects that need to be strengthened or adjusted to facilitate the effective use of regional bonds in accordance with the principle of regional autonomy. Thus, this research is expected to provide in-depth insights into public policy in facilitating the use of regional bonds to strengthen regional financial autonomy and encourage sustainable local economic growth.
Development, Regional Economy, Regional Bonds, Perspective, Regional Autonomy.