Price Linkages of Russian Regional Markets

Konstantin Gluschenko

Spatial Economics=Prostranstvennaya Ekonomika, 2007, issue 1, 48-60

Abstract: Exploiting time series of the cost of a staples basket across 75 Russian regions over 1994-2000, price linkages of the regions are analyzed with the use of Granger causality as a tool. Price linkages of Russian regions are found extensive: on average, an individual regional market is linked through prices with 62% of others. Neither isolated clusters of regions nor autarkic regions are revealed; each region is linked with all others either directly or indirectly, through a chain of no more than two intermediate regions. Spatial autocorrelation is found to take place in two thirds of regions

Keywords: Market integration; Granger causality; integration clubs; spatial autocorrelation (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:far:spaeco:y:2007:i:1:p:48-60

DOI: 10.14530/se.2007.1.048-060

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