Research output: Contribution to journal › Article › peer-review
The Moscow market in country's economic space. / Gluschenko, Konstantin.
In: Applied Econometrics, Vol. 4, No. 48, 2017, p. 1-26.Research output: Contribution to journal › Article › peer-review
}
TY - JOUR
T1 - The Moscow market in country's economic space
AU - Gluschenko, Konstantin
N1 - Publisher Copyright: © 2017 Sinergia Press. All rights reserved. Copyright: Copyright 2021 Elsevier B.V., All rights reserved.
PY - 2017
Y1 - 2017
N2 - This paper studies integration of the Moscow market for final goods with markets of all other Russian regions. It considers an aggregated market represented by a minimum food basket. The law of one price serves as a criterion of market integration. It is a base for constructing time series models of the regional costs of the staples basket over 2001-2015 relative to its cost in Moscow. Regional markets are divided into four groups: Integrated with the Moscow market, conditionally integrated with it, not integrated but tending towards integration with the Moscow market, and neither integrated nor tending towards integration. Nonlinear time series models with asymptotically decaying trends describe the movement towards integration (price convergence).
AB - This paper studies integration of the Moscow market for final goods with markets of all other Russian regions. It considers an aggregated market represented by a minimum food basket. The law of one price serves as a criterion of market integration. It is a base for constructing time series models of the regional costs of the staples basket over 2001-2015 relative to its cost in Moscow. Regional markets are divided into four groups: Integrated with the Moscow market, conditionally integrated with it, not integrated but tending towards integration with the Moscow market, and neither integrated nor tending towards integration. Nonlinear time series models with asymptotically decaying trends describe the movement towards integration (price convergence).
KW - Law of one price
KW - Market integration
KW - Nonlinear trend
KW - Price convergence
KW - Russian regions
UR - http://www.scopus.com/inward/record.url?scp=85102529916&partnerID=8YFLogxK
U2 - 10.2139/ssrn.3068717
DO - 10.2139/ssrn.3068717
M3 - Article
AN - SCOPUS:85102529916
VL - 4
SP - 1
EP - 26
JO - Applied Econometrics
JF - Applied Econometrics
SN - 1993-7601
IS - 48
ER -
ID: 28135194