ANALISIS KONTRIBUSI PEMBIAYAAN MODAL KERJA PERBANKAN SYARIAH TERHADAP PERKEMBANGAN UMKM DI YOGYAKARTA TAHUN 2016-2019

This study aims to analyze the contribution and relationship of sharia banking working capital financing on the development of MSMEs in Yogyakarta. The indicators of MSME development are the variable of number of units, labor, and turnover. The data used were time series secondary data from 2016 to 2019 with monthly data as the database. The sampling technique used saturated samples. The sample used in this study were 192 data. The analysis method used was Vector Error Correction Models (VECM). The results of the study indicate that the influence of the variable of working capital financing on the variable of labor and turnover in 2016-2019 in short term has a negative and significant influence while the number of units has a positive and significant influence on working capital financing. In long term, the number of units has a positive and significant influence while labor and turnover have a negative and significant influence. Furthermore, based on the Granger causality test, it is found that all variables do not have a causal relationship except for the variable of unit which has a one-way causality relationship with the variable of labor. The Impulse Response Function analysis shows that the variable of unit, labor, and turnover respond negatively to shock in the variable of financing. The Variance Decomposition analysis shows that the variable of financing provides a relatively small contribution to the shock of the variable of number of units, labor, and turnover.