From Monetary Stability to Regional Green Economy: The Role of Central Bank Policy in Promoting Sustainable Mangrove Eco-Tourism in East Kalimantan

Vollständiger Abstract

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Mangrove ecosystems in East Kalimantan provide critical environmental services valued at approximately IDR 404 billion annually while supporting local livelihoods through ecotourism. This study examines the nexus between central bank monetary policy instruments and sustainable mangrove ecotourism development, addressing the research gap in integrating macroprudential green finance mechanisms with regional ecological conservation. Employing a mixed-methods approach combining Structural Equation Modeling-Partial Least Squares (SEM-PLS), Analytic Hierarchy Process (AHP), and ecological carrying capacity analysis with 384 respondents across five mangrove ecotourism sites in East Kalimantan, the research reveals that Bank Indonesia's Macroprudential Liquidity Incentive Policy (KLM) significantly influences sustainable tourism development (β=0.437, p