Land Allocation in Vietnam's Agrarian Transition
While liberalizing key factor markets is
a crucial step in the transition from a socialist
control-economy to a market economy, the process can be
stalled by imperfect information, high transaction costs,
and covert resistance from entrenched interests. The authors
study land-market adjustment in the wake of Vietnam's
reforms aiming to establish a free market in land-use rights
following de-collectivization. Inefficiencies in the initial