Elasticity of Substitution between Domestic and Foreign Goods in Russia’s Consumer Market: the Role of East Asian Imports

Dmitry Alexandrovich Izotov
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Dmitry Alexandrovich Izotov: Economic Research Institute FEB RAS, Khabarovsk, Russia

Russian Foreign Economic Journal, 2022, issue 10, 7-26

Abstract: The article presents estimations of the Armington substitution elasticity between domestic and foreign goods in the Russian consumer market. It is shown that the food market in Russia functioned mainly at the expense of domestic goods, and the market of non-food products – at the expense of imports. The goods that are most sensitive to changes in relative import prices in Russia’s consumer market are identifyed. It is proved that the effectiveness of the geographical diversification of imports for the Russian economy might be achieved by reducing trade barriers for most durable goods with East Asian countries.

Keywords: Armington elasticities; domestic goods; imports; price; volume; consumption goods; domestic market; Eastern Asia; Russia (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2022_10_7-26

DOI: 10.24412/2072-8042-2022-10-7-26

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