ABSTRACT This paper investigates factor misallocation in Vietnam's cropping sector and its connection to land rental markets. It differentiates between market‐based transactions (i.e., those involving compensation) and nonmarket transfers (i.e., those conducted without payment, often among close relations). The analysis demonstrates that land rentals serve as a key mechanism for improving the allocation of agricultural resources. Crucially, the study finds that temporary land transfers enhance efficiency only when facilitated through market transactions. By highlighting the distinct impacts of market and nonmarket land transfers, this research provides a deeper understanding of how land rental markets influence agricultural productivity and resource allocation.
ABSTRACT This paper examines the effects of global commodity price movements on foreign direct investment (FDI) inflows in Mongolia, heavily dependent on commodity exports. Estimating linear and nonlinear autoregressive distributed lag (ARDL) models based on a push‐pull framework, and controlling for both global and domestic factors, we find evidence of asymmetric effects of global commodity prices on FDI inflows (as a share of GDP). Specifically, negative commodity price shocks generate stronger long‐run responses in FDI inflows than positive shocks. The finding highlights that FDI inflows play a state‐dependent accelerator role in the transmission of commodity price shocks. Moreover, the domestic pull factors (such as growth, consumer prices, real exchange rate, and the government's external debts) have statistically significant and theoretically consistent long‐run effects on FDI inflows.
