Pengaruh Pembiayaan Ultra Mikro terhadap Kinerja Usaha dan Kesejahteraan Debitur

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Published Dec 31, 2023
DOI https://doi.org/10.33105/itrev.v8i4.709

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Muti'ah Yasmin Basuki
Fakultas Ekonomi dan Bisnis Universitas Indonesia, Jakarta
Jahen Fachrul Rezki
Fakultas Ekonomi dan Bisnis Universitas Indonesia, Jakarta

Abstract

This paper analyzes the effect of the Ultra Micro (UMi) lending program on business performance and debtor welfare. UMi lending program aims to provide easy and fast financing facilities for the lowest-tier micro-enterprises and increase the number of entrepreneurs facilitated by the government. Business performance is measured by sales, profit, and business assets. While welfare is measured using weekly consumption per capita. This study uses data from the debtor's economic survey conducted by the Directorate General of Treasury, Ministry of Finance. The Ordinary Least Square (OLS) estimation results show that UMi lending program has a positive effect on business performance but does not affect household consumption. The estimation was carried out using the instrumental variables (IV). The result of IV estimation shows that the UMi lending program is positively associated with sales and profits during initial period of financing (baseline survey). However, the IV estimation result shows that there is no relationship between UMi and business assets and consumption. In addition, the influence of UMi was also analyzed based on the gender and location of the respondents. Based on the OLS estimation results, the influence of UMi financing on sales and profit for male respondents is stronger than for female respondents. Meanwhile, the positive and significant influence of UMi financing on consumption only occurred in female respondents in the endline survey. Based on the location, the effect of UMi financing on sales lasted longer for respondents outside Java (baseline and endline surveys). In terms of business assets, the influence of UMi financing is stronger on business assets of respondents outside Java, whereas for consumption, UMi financing only has a positive effect on the respondents’s consumption in Java in the endline survey.

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How to Cite
Basuki, M., & Rezki, J. (2023). Pengaruh Pembiayaan Ultra Mikro terhadap Kinerja Usaha dan Kesejahteraan Debitur. Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara Dan Kebijakan Publik, 8(4), 353-369. https://doi.org/https://doi.org/10.33105/itrev.v8i4.709
Issue
Vol 8 No 4 (2023): Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara dan Kebijakan Publik Volume 8 Nomor 4
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Articles
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