ISSN (P) 2086-1575 E-ISSN 2502-7115 Vol. No. 1, 2023 Department of Development Economics Faculty of Economics and Business UNIVERSITAS NEGERI MALANG ISSN (P)2086-1575 E-ISSN 2505-7115 Jurnal Ekonomi dan Studi Pembangunan The Jurnal Ekonomi dan Studi Pembangunan is published biannually by the Universitas Negeri Malang, under the management of the Department of Development Economics. Faculty of Economics and Business. This journal is registered in crossref system with Digital Object Identifier (DOI) Prefix Editor In Chief Dr. Inayati Nuraini Dwiputri (Universitas Negeri Malang. Indonesi. Editorial Board Thomas Soseco. Ph. D (Universitas Negeri Malang. Indonesi. Ekaterina Meltenisova (Novosibirsk State University. Russian Federatio. Prof. Irwan Trinugroho. Ph. D (Universitas Sebelas Maret. Indonesi. Prof. Devanto Shasta Pratomo. Ph. D (Universitas Brawijaya. Indonesi. Yudistira Hendra Permana. Ph. D (Universitas Gadjah Mada. Indonesi. Prof. Dr. Nasikh Nasikh (Universitas Negeri Malang. Indonesi. Bagus Shandy Narmaditya. Ph. D (Universitas Negeri Malang. Indonesi. Prof. John Lynham (University of Hawai'i. United States of Americ. Lustina Fajar Prastiwi (Universitas Negeri Malang. Indonesi. Dr. Richardson Kojo Edeme (University of Nigeria. Nigeri. Assoc. Prof. Mahirah Kamaludin (Universiti Malaysia Terengganu. Malaysi. Assoc. Prof. Dr. Thanet Wattanakul (Khon Kaen University. Thailan. Dr. Grisvia Agustin (Universitas Negeri Malang. Indonesi. Assistant Editors Muhammad Hasyim Ibnu Abbas (Universitas Negeri Malang. Indonesi. Ahmad Fawaiq Suwanan (Universitas Negeri Malang. Indonesi. Reviewers Deniey Adi Purwanto (Institut Pertanian Bogor. Indonesi. Jason P. Alinsunurin (De La Salle University. Philippine. Dr. Farida Rahmawati (Universitas Negeri Malang. Indonesi. Dr. Sugeng Hadi Utomo (Universitas Negeri Malang. Indonesi. Prof. Dr. Wee-Yeap Lau (Universitas of Malaya. Malaysi. Prof. Dr. Budi Eko Soetjipto (Universitas Negeri Malang. Indonesi. Prof. Dr. Dileep Kumar Mohanachandran (BERJAYA University College Business School. Malaysi. Dr. Etty Puji Lestari (Universitas Terbuka. Indonesi. Prof. Dr. Wahjoedi (Universitas Negeri Malang. Indonesi. Mitsuhiko Kataoka. Ph. D (Rikkyo University. Japa. Dr. Agus Eko Sujianto (IAIN Tulungagung. Indonesi. Yasmin Bani. Ph. D (Universiti Putra Malaysia. Malaysi. Dr. Mohamed Bendehiba (University of Khemis Miliana. Algeri. Assoc. Prof. Dr. Chin-Hong Puah (Universiti Malaysia Sarawak. Malaysi. Prof. Dr. Wasiaturrahma (Universitas Airlangga. Indonesi. Prof. Dr. Imam Mukhlis (Universitas Negeri Malang. Indonesi. Sandy Arief (Universitas Negeri Semarang. Indonesi. Jairo Toro Diaz. Ph. D (Universidad Autonoma De Manizales. Colombi. Assoc. Prof. Setyo Tri Wahyudi (Universitas Brawijaya. Indonesi. Abstracting/Indexing SINTA. DOAJ. EBSCO. Econlit (American Economic Associatio. Sherpa Romeo. Universal Impact Factor. Directory of Abstract Indexing for Journal. Index Copernicus. BASE-Bielefeld Academic Reseach Engine. Scholarsteer. Indonesia Publication Index (IPI). Directory of Research Journal Index. CiteFactor. Google Scholar. JurnalTOCs. JIFACTOR. Directory of Open Access Scholarly Resources (ROAD). One Search Id. Journal Seek. UNSW Library. Worldcat OCLC. NIU University Libraries. Boston University Libraries. Havard Library. Western Theological Seminary. University of Saskatchewan Library. Moraref. Academic Resources Index. International Scientific Indexing (ISI). JurnalFactor. Scientific Journal Impact Factor. International Innovative Journal Impact Factor (IIJIF). Open Academic Journal Index (OAJI). Cosmos Impact Factor. Office Department of Development Economics Faculty of Economics and Business (FEB) Universitas Negeri Malang (UM) Building D7, 2nd Floor Jl. Semarang 5. Malang. Indonesia. Phone/Fax . 585-911 E-mail: jesp. journal@um. id, inayati. fe@um. Website: http://journal2. id/index. php/jesp This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4. 0 International License. Table of Contents EDITORIAL Introduction About Abstracting/Indexing ARTICLES Intergovernmental Transfers Reduction Policy and Flypaper Effect: Case of Covid-19 Pandemic in Indonesia Sherlita Nurosidah. Mohamad Khusaini. Ferry Prasetyia Public Health Financing. Remittances, and Inclusive Growth in Resource-rich Countries: Evidence from Nigeria and Mozambique Sunday Osahon Igbinedion. Favoured Mogbolu The Impact of the Russia and Ukraine War on Indonesian Economic and Trade Performance Arif Darmawan. Nairobi Nairobi. Roby Rakhmadi. Ghania Atiqasani The Mundell-Fleming Trilemma Combination on Middle-Income Countries Rinny Apriliany Zakaria. Ghozali Maski. Putu Mahardika Adi Saputra. Ahmed Mohamed Annegrat Monetary Reaction Function in Indonesia During Inflation Targeting Period Aloysius Deno Hervino. Insukindro Insukindro. Amirullah Setya Hardi. Sekar Utami Setiastuti Threshold Levels of Poverty and Unemployment Rates on Economic Growth in Indonesia during COVID-19 Pandemic Vita Kartika Sari. Malik Cahyadin. Aranka Ignasiak-Szulc. Riayati Ahmad 74-86 The Effects of Institutions on Economic Growth in East Asia Takdir. Muhammad Nur Alam Muhajir. Hamida Ambas. Erwin Assessing Fiscal Sustainability in Indonesia Nur Widiastuti. Ardyanto Fitrady. Tri Widodo The Risk-Taking Channel and Monetary Transmission Mechanisms in Indonesia Pristanto Silalahi. Telisa Aulia Falianty Utilization of The Ayung Watershed (DAS) as A Sustainable Tourism Attraction in Gianyar Regency Waridin. I Putu Astawa. Made Ika Prastyadewi. Ika Suciati. Zulfikar Al-Hafidz 143-157