Do energy prices converge across Russian regions?

Alisher Akhmedjonov, Chi Keung Lau

    Research output: Contribution to journalArticlepeer-review

    10 Citations (Scopus)


    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
    Issue number5
    Publication statusPublished - 12 Sep 2012

    Bibliographical note

    Copyright 2012 Elsevier B.V., All rights reserved.


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