Price and Exchange Rate Transmission in Russian Food Markets

The paper estimates price and exchange rate elasticities in Russia during 1994-2000 for the country's major agricultural traded goods. The calculations not only can be used for trade forecasting, but also serve as indicators of the degree to which Russia is integrated into world agricultural markets. The results show that the transmission of changes in world trade prices and the exchange rate to changes in Russian domestic food prices is generally low, though highest for Moscow and St. Petersburg