This paper presents a theoretical argument that the relationship between price differences and per capita income differences across locations can be used as a cross-sectional test for the law of one price. Since the relationship should be statistically insignificant or very weak in an integrated...

This article applies the concept of mobility to cross-location price dynamics. Exploiting data on prices across Russian regions over 1994-2000, a contribution of relative and absolute mobility of regions to price convergence among them is analysed.

Purpose – This paper aims to make a preliminary estimate of the degree of integration in the US product market (widely acknowledged to be the most integrated among geographically large economies) as an upper bound of spatial integration that is practically achievable in markets covering fairly...

Following the price-liberalization reforms implemented by Russia in 1992, an initial period of disconnect between regional markets began to transform around 1994. This paper analyzes the spatial pattern of goods market integration that evolved within Russia in 1994-2000, classifying country's...