Introduction/Main objectives: This study aims to test the influence of the application of the concept of value for money on regional government financial management at the quality level of regional development, which is determined by the level of foreign and domestic investment in local governments. Background problems: State the problem or economic/business phenomena studied in this paper and specify the research question(s) in one sentence. Novelty: This study has a research model that has yet to be widely carried out in Indonesia, namely, a moderated model regression analysis of the value concept for money on the quality of regional development with investment as a moderating variable. Research methods: This study uses data on financial performance, domestic and foreign investment levels, and human development index of 34 provincial governments from 2017 to 2021. This research data comes from the website of the Directorate General of Fiscal Balance, Ministry of Finance and the Central Bureau of Statistics. The data collected in this study is then analyzed using moderated regression analysis (MRA) with the SPSS ver 23.0 application. Findings/Results: The findings in the research show that the application of value for money ( economics, efficiency, and effectiveness ) from local government financial governance can influence the quality of regional development in Indonesia’s provinces in 2017–2021. In addition, the existence of foreign and domestic investment in the provincial government also strengthens the influence of value-for-money financial governance on the quality level of regional development in the provincial government. Conclusion: Based on existing research, local government financial management applies the concept that value for money needs to be increased to create optimal public services to improve the quality of human development in the regions. Regional governments are also expected to be able to encourage the level of capital investment both domestically and abroad to support the creation of development that can strengthen the quality of regional development in the regions.

Central Sulawesi has been grappling with significant challenges in human development, as indicated by its Human Development Index (HDI). Despite recent improvements, the region still lags behind the national average. Key issues such as high poverty rates and malnutrition among children, particularly underweight prevalence, pose substantial barriers to enhancing the HDI. This study aims to analyze the impact of poverty, malnutrition, and household per capita income on the HDI in Central Sulawesi. By employing panel data regression analysis over the period from 2018 to 2022, the research seeks to identify significant determinants that influence HDI and provide evidence-based recommendations for policy interventions. Utilizing panel data regression analysis with a Fixed Effect Model (FEM), the study reveals that while poverty negatively influences with HDI, underweight prevalence is not statistically significant. In contrast, household per capita income significantly impacts HDI, with lower income levels leading to declines in HDI. The findings emphasize the need for comprehensive policy interventions in nutrition, healthcare, and economic support to enhance human development in the region. These interventions are crucial for addressing the root causes of underweight prevalence and poverty, ultimately leading to improved HDI and overall well-being. The originality of this research lies in its focus on a specific region of Indonesia, providing localized insights and recommendations that are critical for targeted policy making.