Do Energy Prices Converge Across Russian Regions

Alisher Akhmedjonov, Chi Keung Lau

Research output: Contribution to journalArticle

9 Citations (Scopus)

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.
Original languageEnglish
Pages (from-to)1623-1631
Number of pages9
JournalEconomic Modelling
Volume29
Issue number5
Early online date5 Jun 2012
DOIs
Publication statusPublished - Sep 2012
Externally publishedYes

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