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Spatial price dynamics and integration in russian food markets

Author

Listed:
  • Barry K. Goodwin
  • Thomas J. Grennes
  • Christine McCurdy

Abstract

This paper evaluates dynamic elements of spatial market linkages for several important food commodities in the Russian Federation. We argue that delivery lags and other impediments to regional commodity trade may delay price responses. Standard regression and cointegration tests that compare contemporaneous price linkages in a short-run setting may not be flexible enough to address integration in such a setting. As an alternative, we complement conventional time-series tests of spatial integration with an analysis of dynamic responses to price shocks. The results provide tempered support for spatial integration, especially in retail markets. However, the results suggest that, because of gradual adjustments to price shocks, integration may occur mainly in the long run.

Suggested Citation

  • 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, vol. 3(2), pages 157-193.
  • Handle: RePEc:taf:jpolrf:v:3:y:1999:i:2:p:157-193
    DOI: 10.1080/13841289908523402
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    Citations

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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. Goundan, Anatole & Tankari, Mahamadou Roufahi, 2016. "A dynamic spatial model of agricultural price transmission: Evidence from the Niger millet market:," IFPRI discussion papers 1536, International Food Policy Research Institute (IFPRI).
    3. 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.
    4. Gluschenko, Konstantin, 2017. "Spatial pattern of Russia’s market integration," MPRA Paper 76995, University Library of Munich, Germany.
    5. Konstantin Gluschenko, 2016. "Distribution dynamics of Russian regional prices," Empirical Economics, Springer, vol. 51(3), pages 1193-1213, November.
    6. Gluschenko, Konstantin, 2006. "Russia's common market takes shape : price convergence and market integration among Russian regions," BOFIT Discussion Papers 7/2006, Bank of Finland, Institute for Economies in Transition.
    7. Glushchenko Konstantin, 2004. "Integration of the Russian Market. Empirical Analysis," EERC Working Paper Series 04-06e, EERC Research Network, Russia and CIS.
    8. Ana María Iregui & Jesús Otero, 2013. "A Spatiotemporal Analysis of Agricultural Prices: An Application to Colombian Data," Agribusiness, John Wiley & Sons, Ltd., vol. 29(4), pages 497-508, September.
    9. Gluschenko, Konstantin, 2011. "Price convergence and market integration in Russia," Regional Science and Urban Economics, Elsevier, vol. 41(2), pages 160-172, March.
    10. 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.
    11. 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).
    12. Arnim Kuhn, 2005. "A CGE analysis of trade costs in the Russian agrofood sector," Agricultural Economics, International Association of Agricultural Economists, vol. 33(1), pages 79-90, July.
    13. Liefert, William M., 2005. "Decomposing Changes in Agricultural Price Gaps," Working Papers 14592, International Agricultural Trade Research Consortium.
    14. Carvalho, Glauco Rodrigues & Bessler, David & Hemme, Torsten & Schröer-Merker, Eva, 2015. "Understanding International Milk Price Relationships," 2015 Annual Meeting, January 31-February 3, 2015, Atlanta, Georgia 196692, Southern Agricultural Economics Association.
    15. Konstantin Gluschenko, 2006. "Price Linkages of Russian Regional Markets," William Davidson Institute Working Papers Series wp839, William Davidson Institute at the University of Michigan.
    16. repec:ris:apltrx:0328 is not listed on IDEAS
    17. Götz, Linde & Glauben, Thomas & Brümmer, Bernhard, 2013. "Wheat export restrictions and domestic market effects in Russia and Ukraine during the food crisis," Food Policy, Elsevier, vol. 38(C), pages 214-226.
    18. Gluschenko, Konstantin, 2017. "The Moscow market in the country’s economic space," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 48, pages 5-21.
    19. Conway, Patrick, 1999. "Privatization and Price Convergence: Evidence from Four Markets in Kyiv," Journal of Comparative Economics, Elsevier, vol. 27(2), pages 231-257, June.

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