Research output: Contribution to journal › Article › peer-review
Spatial pattern of Russia’s market integration. / Gluschenko, Konstantin.
In: Spatial Economic Analysis, Vol. 16, No. 4, 2021, p. 449-470.Research output: Contribution to journal › Article › peer-review
}
TY - JOUR
T1 - Spatial pattern of Russia’s market integration
AU - Gluschenko, Konstantin
N1 - Publisher Copyright: © 2021 Regional Studies Association.
PY - 2021
Y1 - 2021
N2 - This paper studies the integration of regional goods markets in Russia over the period 2001–19, analysing the law of one price. The analysis involves all pairs of country’s regions, which provides a comprehensive spatial pattern of market integration. The region pairs are classified as belonging to one of four groups: perfectly integrated, conditionally integrated, not integrated but tending towards integration (converging), and neither integrated nor tending towards integration. On average, a region is found to be perfectly and conditionally integrated with 48.7% of other regions and tending towards integration with 3.3% of them. Comparisons of the European and Asian parts of Russia and other considerations suggest that geographical reasons explain the pattern obtained only partially. Apparently, idiosyncratic features of regional markets play a main role in non-integration.
AB - This paper studies the integration of regional goods markets in Russia over the period 2001–19, analysing the law of one price. The analysis involves all pairs of country’s regions, which provides a comprehensive spatial pattern of market integration. The region pairs are classified as belonging to one of four groups: perfectly integrated, conditionally integrated, not integrated but tending towards integration (converging), and neither integrated nor tending towards integration. On average, a region is found to be perfectly and conditionally integrated with 48.7% of other regions and tending towards integration with 3.3% of them. Comparisons of the European and Asian parts of Russia and other considerations suggest that geographical reasons explain the pattern obtained only partially. Apparently, idiosyncratic features of regional markets play a main role in non-integration.
KW - law of one price
KW - non-linear trend
KW - price convergence
KW - regional product market
UR - http://www.scopus.com/inward/record.url?scp=85102944970&partnerID=8YFLogxK
U2 - 10.1080/17421772.2021.1898666
DO - 10.1080/17421772.2021.1898666
M3 - Article
AN - SCOPUS:85102944970
VL - 16
SP - 449
EP - 470
JO - Spatial Economic Analysis
JF - Spatial Economic Analysis
SN - 1742-1772
IS - 4
ER -
ID: 28205161