Abstract
The size of the loan funds obtained from the formal financial institutions reflects the satisfaction degree of the farmers' loan demand and the practical ability of the farmers. In this paper, we measure the characteristics of rural household borrowing transaction costs from five dimensions, the specificity of human capital, the specificity of physical assets, the special position of the geographical location, the uncertainty of loan and the transaction frequency, and the influence of the transaction cost on the scale of farmer's loan funds by Tobit (Censored) model. Results showed that the education level of the households, have productive fixed assets value, housing value at the end of the year, the distance to the recent financial institutions, warranty or guarantee, mortgage, loan period, interest rates, from application to loan to spend money and time in the last two years has positive effect. The values of the livestock, the use of funds for the purpose of farmers’ loan funds have a reverse impact.
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