| সংক্ষিপ্ত: | This paper examines Indonesia’s nickel downstreaming policy, a strategy aimed at boosting economic growth and establishing the country as a major player in the battery and electric vehicle industry. While existing analyses often view this policy through the lens of resource nationalism, this perspective overlooks crucial international political and economic dynamics. We propose a securitization/resource security framework to provide a more comprehensive understanding of Indonesia’s nickel downstreaming policy. The natural resource securitization approach frames natural resources as existential threats to state interests, varying based on specific conditions. This framing occurs when natural resource issues impact economic security, regime stability, or geopolitical standing. Using qualitative analysis of policy documents and economic data, we argue that Indonesia’s nickel downstreaming policy is a response to perceived threats to economic and regime security, as well as geopolitical challenges at both domestic and international levels. This new perspective offers insights into the complex interplay of factors driving Indonesia’s natural resource policies. Our findings suggest that policymakers and researchers should consider a broader range of security concerns when analyzing resource policies in developing economies. This approach may have implications for understanding similar policies in other resource-rich countries.
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