Regional Equity Participation as an Arena of Budget Politics: A Political Economy of Accounting Perspective on the Gorontalo Provincial Government
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Studies of regional government equity participation commonly assess investment feasibility, dividends, and contributions to regional revenue, while paying less attention to how accounting numbers are produced and used in budget politics. This study examines the formation and change of the Gorontalo Provincial Government’s equity participation policy in Bank SulutGo and the role of accounting numbers in resource distribution and policy legitimation. It employs a document-centred qualitative case study supported by semi-structured interviews with two key informants from the Provincial Financial Agency and Bank SulutGo. Budget documents, financial statements, regulations, corporate reports, and interview evidence were thematically coded through the dimensions of distribution, legitimation, power relations, and public value. The findings show that changes in the amount of capital and the decision to suspend additional capital were not merely technical calculations, but outcomes of interactions among the bank’s capital needs, fiscal capacity, political approval, and election financing priorities. Capital, dividend, and fiscal-space figures could legitimize opposing policy choices. The article extends Political Economy of Accounting to a cross-provincial regional development bank and proposes an evaluation framework that distinguishes shareholder returns, government service quality, and regional development contributions as dimensions of public value.
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