JEL Classification: L11, L15, L16 DOI: https://doi.org/10.31521/modecon.V15(2019)-18 Kuswandi, Ph.D. of Economics, Associate Professor of Sekolah Tinggi Ilmu Ekonomi Mahardhika, Surabaya, Indonesia ORCID ID: 0000-0002-3186-371X e-mail: kuswandistie@gmail.com Asmirin Noor, Ph.D. of Economics, Sekolah Tinggi Ilmu Ekonomi Mahardhika, Surabaya, Indonesia ORCID ID: 0000-0003-4925-8451 e-mail: asmirinstie@gmail.com Siti Mahmudah, Ph.D. of Economics, Sekolah Tinggi Ilmu Ekonomi Mahardhika, Surabaya, IndonesiaRead more