This study aims to explore the interactions between land policy/reform and the social and economic characteristics of land markets and inform the design of future land policies in Scotland and Japan. Specifically, it aims to understand how social networks and political institutions work in the market, based on a theoretical framework drawn from New Economic Sociology (NES) and New Institutional Economics (NIE). For this, Social Network Analysis is conducted for a small number of cases in both countries, where dynamic land pattern changes can be observed. After identifying the entire network of a land market, the connections between key actors are traced through interviews. Results could show the existence of contrasting dominant channels in the markets, e.g., one based on norms or trust which represents the NES position or the other based on rules/regulations or government support which reflects the NIE position. Moreover, the presence of norms, trust and power in the network, the contribution of brokers in the information flow, and the influence of each channel on transaction costs will be clarified. Lastly, if there are gaps between institutional goals and social networks’ motivations, whether and how they should be reconciled is discussed, with lessons and recommendations for ongoing land policy/reform.