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Relative Price Convergence in Russia

Author

Listed:
  • Paula De Masi

    (International Monetary Fund)

  • Vincent Koen

    (International Monetary Fund)

Abstract

Following price and exchange rate liberalization, domestic consumer prices in Russia moved closer to market levels. This paper quantifies the magnitude of the associated relative price changes. It also shows that relative price variability has been positively correlated with inflation. It is further established that convergence toward international relative and absolute price levels is far from complete, and that geographical price dispersion within Russia has declined since early 1992 but remains fairly high.

Suggested Citation

  • Paula De Masi & Vincent Koen, 1996. "Relative Price Convergence in Russia," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 97-122, March.
  • Handle: RePEc:pal:imfstp:v:43:y:1996:i:1:p:97-122
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    Cited by:

    1. Konstantin Gluschenko, 2010. "Anatomy of Russia's market segmentation," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 18(1), pages 27-58, January.
    2. 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., vol. 9(2), pages 135-149.
    3. Berkowitz, Daniel & DeJong, David N., 1999. "Russia's internal border," Regional Science and Urban Economics, Elsevier, vol. 29(5), pages 633-649, September.
    4. Gluschenko, Konstantin, 2010. "The Law of One Price in the Russian Economic Space," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 17(1), pages 3-19.
    5. Konstantin Gluschenko, 2004. "The Evolution of Cross-Region Price Distribution in Russia," William Davidson Institute Working Papers Series 2004-716, William Davidson Institute at the University of Michigan.
    6. Berkowitz, Daniel & DeJong, David N., 2011. "Growth in post-Soviet Russia: A tale of two transitions," Journal of Economic Behavior & Organization, Elsevier, vol. 79(1-2), pages 133-143, June.
    7. Konstantin Gluschenko, 2016. "Distribution dynamics of Russian regional prices," Empirical Economics, Springer, vol. 51(3), pages 1193-1213, November.
    8. Liefert, William M., 2005. "Decomposing Changes in Agricultural Price Gaps," Working Papers 14592, International Agricultural Trade Research Consortium.
    9. Daniel Berkowitz & David N. DeJong, 2001. "The evolution of market integration in Russia," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 9(1), pages 87-104, March.
    10. repec:pit:wpaper:369 is not listed on IDEAS
    11. Konstantin Gluschenko, 2006. "Price Linkages of Russian Regional Markets," William Davidson Institute Working Papers Series wp839, William Davidson Institute at the University of Michigan.
    12. Varshavsky Alexander, 1999. "Macroeconomic Aggregate Model for Analysis of Inflation and Stabilization of the Russian Economy," EERC Working Paper Series 97-109e, EERC Research Network, Russia and CIS.
    13. Konstantin Gluschenko, 2003. "Market integration in Russia during the transformation years," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 11(3), pages 411-434, September.
    14. Mark De Broeck & Paula De Masi & Vincent Koen, 1997. "Inflation dynamics in Kazakhstan," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 5(1), pages 195-213, May.
    15. 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.
    16. Daniel Berkowitz & David N. DeJong, 2002. "Integration: An Empirical Assessment of Russia," William Davidson Institute Working Papers Series 488, William Davidson Institute at the University of Michigan.
    17. Arnade, Carlos Anthony & Osborne, Stefan, 2001. "Measurement And Testing For Neutrality Of Foreign Price And Cpi Transmission In Russia," 2001 Annual meeting, August 5-8, Chicago, IL 20625, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    18. Konstantin Gluschenko, 2009. "Goods market integration in Russia during the economic upturn," Post-Communist Economies, Taylor & Francis Journals, vol. 21(2), pages 125-142.
    19. Akhmedjonov, Alisher & Lau, Chi Keung, 2012. "Do energy prices converge across Russian regions?," Economic Modelling, Elsevier, vol. 29(5), pages 1623-1631.
    20. 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.
    21. Daniel Berkowitz & David DeJong & Steven Husted, 1997. "Transition in Russia: It's Happening," William Davidson Institute Working Papers Series 33, William Davidson Institute at the University of Michigan.

    More about this item

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • P22 - Economic Systems - - Socialist Systems and Transition Economies - - - Prices
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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