Goods Market Integration in Russia during the Economic Upturn

Konstantin Gluschenko

No wp921, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

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.

Keywords: market integration; law of one price; price dispersion; Russian regions. (search for similar items in EconPapers)
JEL-codes: P22 R10 R15 (search for similar items in EconPapers)
Pages: pages
Date: 2008-05-01
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Citations: View citations in EconPapers (1)

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Journal Article: Goods market integration in Russia during the economic upturn (2009)
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