<![CDATA[Productive-economy programs in rural Indonesia increasingly depend on collaboration among local government, village cooperatives, and financial institutions. Most evaluations focus on income, business turnover, or budget realization, leaving the institutional relationships that connect public funds, cooperative operations, and credit largely unexamined. This study analyses that relationship as a triangular fiscal collaboration in five upland villages in Rejang Lebong and Kepahiang, Bengkulu Province. A qualitative institutional case study was combined with a participatory action research cycle, document review, focus group discussions, interviews, field observation, and a structured evaluation matrix covering economic, environmental, and institutional dimensions. The collaboration was mapped as a six-stage institutional value chain: agenda-setting and budgeting, capitalisation, intermediation, production support, market linkage, and monitoring with reinvestment. The analysis shows that collaboration is strongest when the three parties possess clear and mutually recognised mandates, particularly during capitalisation. Value is lost when responsibilities fall between organisations, especially at market linkage and monitoring, where informal collectors often perform functions that the formal arrangement cannot. Environmental criteria remain weakly integrated into fiscal, cooperative, and banking instruments, while participation is strongest during implementation and weaker in financing, marketing, and evaluation. The study argues that institutional value-chain analysis can locate collaboration failure at specific hand-offs and suggests that productive-economy policy should combine clearer inter-organisational agreements, market functions, ecological safeguards, and feedback mechanisms rather than relying on general calls for coordination.]]>
