Market integration in Russia during the transformation years
A cross-sectional relationship among Russian regions between price dispersion and per capita income dispersion is used to measure the degree of integration between regional commodity markets. The sequence of cross-sectional estimations for each month of the period spanning 1992 through 2000 provides the temporal pattern of market integration in Russia, yielding an integration trajectory. The regional fragmentation of the national market increased during the early years of transition but integration has subsequently tended to improve notwithstanding occasional deviations from this trend. Copyright (c) The European Bank for Reconstruction and Development, 2003.
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Volume (Year): 11 (2003)
Issue (Month): 3 (09)
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