Spatial Integration of Siberian Regional Markets

Konstantin Gluschenko

MPRA Paper from University Library of Munich, Germany

Abstract: This paper studies market integration of 13 regions constituting Siberia with one another and all other Russian regions. The law of one price serves as a criterion of market integration. The data analyzed are time series of the regional costs of a basket of basic foods (staples basket) over 2001–2015. Pairs of regional markets are divided into four groups: perfectly integrated, conditionally integrated, not integrated but tending towards integration (converging), and neither integrated nor converging. Nonlinear time series models with asymptotically decaying trends describe price convergence. Integration of Siberian regional markets is found to be fairly strong; they are integrated and converging with about 70% of country’s regions (including Siberian regions themselves).

Keywords: market; integration; law; of; one; price; price; convergence; nonlinear; trend; Russian; regions (search for similar items in EconPapers)
JEL-codes: C32 L81 P22 R15 (search for similar items in EconPapers)
Date: 2018-04-02
New Economics Papers: this item is included in nep-cis, nep-tra and nep-ure
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https://mpra.ub.uni-muenchen.de/85667/1/MPRA_paper_85667.pdf original version (application/pdf)

Related works:
Working Paper: Пространственная интеграция региональных рынков Сибири (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:85667

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