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Article

Конвергенция цен на рынке зерна: исторический аспект

Using historical data, I examine the impact of spatial relations between regions on regional disparities in rye prices. Using econometric tools and annual data on procurement and retail rye prices in provincial cities of the Russian Empire for the period from 1861 to 1915, I show that convergence in prices was taking place during the period under consideration. Studying the dynamics of the spatial autocorrelation coefficient in relative prices has revealed the need for taking into account the spatial component in the study of convergence in prices. Using spatial regression models, I estimate the role of geographical distance between provincial cities in reducing the price gap. The estimation results of prices convergence econometric models show that reduction in relative rye price growth was largely due to price changes in the neighboring provinces.