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The evolution of market integration in Russia

The evolution of market integration in Russia 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 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 fluctuations exhibit strong statistical relationships with a host of aggregate variables; most notably, internal integration exhibits a strong negative relationship with international trade. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics of Transition and Institutional Change Wiley

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References (82)

Publisher
Wiley
Copyright
Copyright © 2001 Wiley Subscription Services, Inc., A Wiley Company
ISSN
2577-6975
eISSN
2577-6983
DOI
10.1111/1468-0351.00068
Publisher site
See Article on Publisher Site

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 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 fluctuations exhibit strong statistical relationships with a host of aggregate variables; most notably, internal integration exhibits a strong negative relationship with international trade.

Journal

Economics of Transition and Institutional ChangeWiley

Published: Mar 1, 2001

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