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The Evolution of Cross-Region Price Distribution in Russia

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  • Konstantin Gluschenko

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Abstract

The behavior of the entire cross-section distribution of prices in Russian regions is analyzed from 1992 through 2000, using non-parametric techniques. The cost of a staples basket is used as a price representative. Price dispersion measured as the standard deviation of prices is found to be diminishing since about 1994; and the shape of the cross-region distribution of prices tends to be more regular over time. To characterize intra-distribution mobility, a transition probability function (stochastic kernel) is estimated. It is also used to derive a long-run limit of the price distribution. Overall, the results suggest that, excluding a few years following the price liberalization, price convergence has been happening among Russian regions.

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File URL: http://www.wdi.umich.edu/files/Publications/WorkingPapers/wp716.pdf
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Bibliographic Info

Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 2004-716.

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Length: 23 pages
Date of creation: 01 Jul 2004
Date of revision:
Handle: RePEc:wdi:papers:2004-716

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Keywords: price convergence; price dispersion; distribution dynamics; market integration; Russia;

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References

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  1. Paula De Masi & Vincent Koen, 1996. "Relative Price Convergence in Russia," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 97-122, March.
  2. Glushchenko Konstantin, 2002. "Common Russian Market: Myth rather than Reality," EERC Working Paper Series 01-11e, EERC Research Network, Russia and CIS.
  3. Barry K. Goodwin & Thomas J. Grennes & Christine McCurdy, 1999. "Spatial price dynamics and integration in russian food markets," Journal of Economic Policy Reform, Taylor & Francis Journals, Taylor & Francis Journals, vol. 3(2), pages 157-193.
  4. Gluschenko, Konstantin, 2002. "Market Integration in Russia During the Transformation Years," Economics Series, Institute for Advanced Studies 116, Institute for Advanced Studies.
  5. Bianchi, Marco, 1997. "Testing for Convergence: Evidence from Non-parametric Multimodality Tests," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 12(4), pages 393-409, July-Aug..
  6. Durlauf,S.N. & Quah,D.T., 1998. "The new empirics of economic growth," Working papers, Wisconsin Madison - Social Systems 3, Wisconsin Madison - Social Systems.
  7. Vincent Koen & Steven Phillips, 1992. "Price Liberalization in Russia," IMF Working Papers 92/92, International Monetary Fund.
  8. Berkowitz, Daniel & DeJong, David N., 2003. "Regional integration: an empirical assessment of Russia," Journal of Urban Economics, Elsevier, vol. 53(3), pages 541-559, May.
  9. Daniel Berkowitz & David N. DeJong, 2000. "The Evolution of Market Integration in Russia," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan 334, William Davidson Institute at the University of Michigan.
  10. Berkowitz, Daniel & DeJong, David N. & Husted, Steven, 1998. "Quantifying Price Liberalization in Russia," Journal of Comparative Economics, Elsevier, vol. 26(4), pages 735-760, December.
  11. Paula De Masi & Vincent Koen, 1997. "Prices in Transition," IMF Working Papers 97/158, International Monetary Fund.
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Cited by:
  1. Gluschenko, Konstantin, 2006. "Russia’s common market takes shape: Price convergence and market integration among Russian regions," BOFIT Discussion Papers, Bank of Finland, Institute for Economies in Transition 7/2006, Bank of Finland, Institute for Economies in Transition.
  2. Konstantin Gluschenko, 2013. "Distribution Dynamics of Russian Regional Prices," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan wp1061, William Davidson Institute at the University of Michigan.
  3. Konstantin Gluschenko, 2010. "Price mobility of locations," Applied Economics Letters, Taylor & Francis Journals, Taylor & Francis Journals, vol. 17(1), pages 99-103.
  4. Konstantin Gluschenko, 2005. "Inter-Regional Price Convergence and Market Integration in Russia," Urban/Regional, EconWPA 0504002, EconWPA.

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