The Costs and Returns of Agricultural Credit Delivery
基于963笔农业贷款数据，分析贷款规模、借贷关系及合同条款如何影响农业信贷的成本与收益，发现存在规模经济且银行将大部分好处以低利率传递给借款人。
Abstract Borrower‐level data from 963 agricultural lending relationships are used to examine how several factors influence the costs and returns of extending agricultural credit. The results provide estimates of the costs and returns of agricultural lending and the extent to which these costs and returns are influenced by factors such as loan volume, lender/borrower relationship factors, and contract terms. The findings indicate that economies of size exist in agricultural credit delivery and that lenders pass most of these benefits on to borrowers through lower interest rates. In addition, the impacts of lender/borrower relationship factors were relatively small.