Do energy prices converge across Russian regions?

Akhmedjonov, Alisher and Lau, Chi Keung (2012) Do energy prices converge across Russian regions? Economic Modelling, 29 (5). pp. 1623-1631. ISSN 0264-9993

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Abstract

This paper tests for price convergence in Russian energy markets from January 2003 to October 2010. Monthly energy prices for four energy products (diesel, gasoline, electricity and coal) for 83 Russian regions are drawn from Russia's statistical agency Rosstat. The study contributes to the existing literature by using the Exponential Smooth Auto-Regressive Augmented Dickey–Fuller unit root test in a panel setup, which encompasses cross-section dependence. We find that there are no fully integrated national energy markets in Russia, possibly due to the peripheral position of diverging regions, unbalanced distribution of energy reserves and limited cross-border transmission capacity.

Item Type:	Article
Uncontrolled Keywords:	Russian energy markets, price convergence, non-linear panel unit root test
Subjects:	N100 Business studies N300 Finance
Department:	Faculties > Business and Law > Newcastle Business School
Depositing User:	Ellen Cole
Date Deposited:	28 Aug 2013 10:28
Last Modified:	19 Nov 2019 09:51
URI:	http://nrl.northumbria.ac.uk/id/eprint/13405

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