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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.

Suggested Citation

  • Konstantin Gluschenko, 2008. "Goods Market Integration in Russia during the Economic Upturn," William Davidson Institute Working Papers Series wp921, William Davidson Institute at the University of Michigan.
  • Handle: RePEc:wdi:papers:2008-921
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    File URL: http://deepblue.lib.umich.edu/bitstream/2027.42/64371/1/wp921.pdf
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    References listed on IDEAS

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    1. Steven T Phillips & Vincent Koen, 1993. "Price Liberalization in Russia; Behavior of Prices, Household Incomes, and Consumption During the First Year," IMF Occasional Papers 104, International Monetary Fund.
    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. 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.
    4. Vincent Koen & Steven T Phillips, 1992. "Price Liberalization in Russia; The Early Record," IMF Working Papers 92/92, International Monetary Fund.
    5. Paula De Masi & Vincent Koen, 1996. "Relative Price Convergence in Russia," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 97-122, March.
    6. 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.
    7. 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.
    8. 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.
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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, vol. 79(1-2), pages 133-143, June.
    2. Gluschenko, Konstantin, 2017. "Spatial pattern of Russia’s market integration," MPRA Paper 76995, University Library of Munich, Germany.
    3. Konstantin Gluschenko, 2015. "Impact of the global crisis on spatial disparities in Russia," Papers in Regional Science, Wiley Blackwell, pages 3-23.
    4. Konstantin Gluschenko, 2016. "Distribution dynamics of Russian regional prices," Empirical Economics, Springer, vol. 51(3), pages 1193-1213, November.
    5. repec:pit:wpaper:369 is not listed on IDEAS

    More about this item

    Keywords

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

    JEL classification:

    • P22 - Economic Systems - - Socialist Systems and Transition Economies - - - Prices
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods

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