In the section Articles
Title of the article Convergence of Prices on the Grain Market: The Historical Aspect
Pages 34-56
Author 1 Vera Ivanovna Ivanova
PhD in Physics and Mathematics, Associate Professor, Research Fellow, Center for Market Studies and Spatial Economics.
National Research University «Higher School of Economics»
16 Soyuza Pechatnikov Street, Saint Petersburg, Russia, 190068
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Abstract On the basis of historical data, the author investigates the influence of spatial relations between regions on the variability of rye prices. Using econometric tools and annual data on procurement and The author is grateful to the Government of the Russian Federation for the financial support under the grant No. 11.G34.31.0059. retail rye prices in provincial cities of the Russian Empire during the period from 1861 to 1915, the researcher shows that during the mentioned period there was convergence of prices. Dynamic analysis of the coefficient of the spatial autocorrelation coefficient in relative prices has revealed the necessity of taking into account the spatial component in the study of convergence of prices. Using spatial regression models the author evaluates the role of geographical distance between provincial cities in reducing the price gap. The results of econometric models of prices’ convergence show that the growth reduction in relative rye prices was largely due to a change in this indicator in nearby provinces.
Code 330.43+332.1+338.57
DOI 10.14530/se.2015.3.034-056
Keywords ♦ convergence of prices ♦ grain prices ♦ spatial autoregressive model ♦ Russian Empire
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For citation Ivanova V.I. Convergence of Prices on the Grain Market: The Historical Aspect. Prostranstvennaya Ekonomika = Spatial Economics, 2015, no. 3, pp. 34-56. DOI: 10.14530/se.2015.3.034-056. (In Russian).
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