The Evolution of Market Integration in Russia

Daniel Berkowitz and David DeJong ()

No 334, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: We use a statistical model of commodity trade to measure the extent of integration between regional commodity markets within Russia. Monthly time-series data on regional commodity prices spanning 1994 through 1999 indicate substantial temporal fluctuations in integration over this period: an initial period of widespread integration gradually gave way to a period of disconnectedness in 1995 through 1997, which seems to have subsided by mid-1998. These temporal fluctuations exhibit strong statistical relationships with a host of aggregate variables; most notably, internal integration exhibits a strong negative relationship with international trade.

Keywords: internal borders; temporal fluctuations (search for similar items in EconPapers)
JEL-codes: P22 R1 (search for similar items in EconPapers)
Pages: pages
Date: 2000-08-01
New Economics Papers: this item is included in nep-eec
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:wdi:papers:2000-334

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