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Goods Market Integration in Russia during the Economic Upturn

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  • Konstantin Gluschenko

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Abstract

This paper obtains an evolving pattern of goods market integration in Russia, considering the period of economic upturn, since the second half of 2000 through the end of 2007. In an integrated market, the price of a tradable good at any location is determined by the national market, not local demand. Based on this, the strength of dependence of local prices on local demands is used to detect and measure market segmentation. The costs of a staples basket across almost all Russian regions with a monthly frequency are used as the empirical stuff. The pattern obtained suggests that in the time span under consideration the degree of Russia’s goods market integration was relatively stable, fluctuating around some level; no sufficient improvements or deteriorations were detected.

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File URL: http://www.wdi.umich.edu/files/Publications/WorkingPapers/wp921.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 wp921.

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Length: pages
Date of creation: 01 May 2008
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Handle: RePEc:wdi:papers:2008-921

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Keywords: market integration; law of one price; price dispersion; Russian regions.;

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References

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  1. Steven Phillips & Vincent Koen, 1993. "Price Liberalization in Russia," IMF Occasional Papers 104, International Monetary Fund.
  2. Daniel Berkowitz & David N. DeJong, 2001. "The evolution of market integration in Russia," The Economics of Transition, The European Bank for Reconstruction and Development, The European Bank for Reconstruction and Development, vol. 9(1), pages 87-104, March.
  3. Paula De Masi & Vincent Koen, 1995. "Relative Price Convergence in Russia," IMF Working Papers 95/54, International Monetary Fund.
  4. Gluschenko, Konstantin, 2011. "Price convergence and market integration in Russia," Regional Science and Urban Economics, Elsevier, Elsevier, vol. 41(2), pages 160-172, March.
  5. Gluschenko, Konstantin, 2002. "Market Integration in Russia During the Transformation Years," Economics Series, Institute for Advanced Studies 116, Institute for Advanced Studies.
  6. Konstantin Gluschenko, 2004. "Analysing changes in market integration through a cross-sectional test for the law of one price," International Journal of Finance & Economics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 9(2), pages 135-149.
  7. 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.
  8. 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.
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Cited by:
  1. Berkowitz, Daniel & DeJong, David N., 2011. "Growth in post-Soviet Russia: A tale of two transitions," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 79(1), pages 133-143.
  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. "Impact of The Global Crisis on Spatial Relationships in Russia," LICOS Discussion Papers, LICOS - Centre for Institutions and Economic Performance, KU Leuven 26910, LICOS - Centre for Institutions and Economic Performance, KU Leuven.

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