Convergence of Prices on the Grain Market: The Historical Aspect

Vera Ivanova ()

Spatial Economics=Prostranstvennaya Ekonomika, 2015, issue 3, 34-56

Abstract: On the basis of historical data, the author investigates the influence of spatial relations between regions on the variability of rye prices. Using econometric tools and annual data on procurement and The author is grateful to the Government of the Russian Federation for the financial support under the grant No. 11.G34.31.0059. retail rye prices in provincial cities of the Russian Empire during the period from 1861 to 1915, the researcher shows that during the mentioned period there was convergence of prices. Dynamic analysis of the coefficient of the spatial autocorrelation coefficient in relative prices has revealed the necessity of taking into account the spatial component in the study of convergence of prices. Using spatial regression models the author evaluates the role of geographical distance between provincial cities in reducing the price gap. The results of econometric models of prices’ convergence show that the growth reduction in relative rye prices was largely due to a change in this indicator in nearby provinces.

Keywords: ?; convergence; of; prices; ?; grain; prices; ?; spatial; autoregressive; model; ?; Russian; Empire (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:far:spaeco:y:2015:i:3:p:34-56

DOI: 10.14530/se.2015.3.034-056

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