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All Journal Jurnal Ekonomi dan Studi Pembangunan (JESP)
Kamilaus Konstanse Oki
Faculty of Economics and Business, Universitas Timor, Indonesia
Economics, Econometrics & Finance

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Transaction Cost of Black Market in the Region Timor-Leste Border Kamilaus Konstanse Oki; Natalia Lily Balubu
Jurnal Ekonomi dan Studi Pembangunan Vol 13, No 2 (2021)
Publisher : Universitas Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17977/um002v13i22021p169

Abstract

Timor-Leste’s cross-border trade involves the people of the two countries on the border. Cross-border trade, which was originally facilitated by the government of Indonesia and East Timor by providing a common border market, has been closed since the Covid-19 pandemic. As a consequence, illegal transaction activities continue around the border with an unconventional approach and run outside the control of the state. The study aims to determine the effect of transaction costs, institutional changes, black markets on the welfare of people in border areas directly or indirectly. Explanatory research is a method approach used with PLS (Partial Least Square). The results of the study show that the direct relationship between constructs is positive, except that the transaction cost on welfare is negative. The indirect effect of transaction costs and institutional changes on welfare through the black market is positive. The factor of low transaction costs and changes in people’s behavior and income causes the trading process to be outside the government’s permit. Another supporting factor is the ease of accessibility in the form of proximity to mileage, means of transportation, and the similarity of economic needs. Black market practice is unlawful, and the state loses revenue. Keywords: Transaction Cost, Institutional Change, Black Market, WelfareJEL Classification: D60, F10
Co-Authors Natalia Lily Balubu