The Evolution of Market Integration in Russia

Posted: 27 Sep 2001

See all articles by Daniel Berkowitz

Daniel Berkowitz

University of Pittsburgh - Department of Economics

David N. DeJong

University of Pittsburgh - Department of Economics

Multiple version iconThere are 2 versions of this paper

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.

JEL Classification: P22, R1

Suggested Citation

Berkowitz, Daniel and Dejong, David N., The Evolution of Market Integration in Russia. Available at SSRN: https://ssrn.com/abstract=264842

Daniel Berkowitz (Contact Author)

University of Pittsburgh - Department of Economics ( email )

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David N. Dejong

University of Pittsburgh - Department of Economics ( email )

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United States
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