Hinnerk Gnutzmann


I am a post-doc researcher at the Economics Department of the Leibniz Universität Hannover. My research interests are in Industrial Organization and International Trade. Contact me!

Current Position: Wissenschaftlicher Mitarbeiter (Eigene Stelle), Institut für Makroökonomik, Leibniz Universität Hannover (since 04/2016)

PhD Economics, European University Institute, Florence, 2013
MPhil Multidisciplinary Economics, University of Utrecht, 2008
BA (Hons.) Economics, University of Cambridge, 2006


I am Principal Investigator of the Project "Financial Speculation, Export Cartels and Commodity Crises" (FINEXCA), which is funded by the Deutsche Forschungsgemeinschaft (DFG). Industrial food production requires a constant supply of minerals (potassium and phosphorous) as fertilizer. But, like oil, reserves of these minerals are geographically concentrated and mineral markets alternate between competitive and cartel phases. In the project, we analyze how these export cartels interact with food markets, and what role they played in the recent “food crisis”. More info: FINEXCA Project Site | DFG Project Info (German)

Current Paper: Did the Fertilizer Cartel Cause the Food Crisis? by Hinnerk Gnutzmann and Piotr Spiewanowski
Food commodity prices escalated during the 2007/2008 food crisis, and have scarcely fallen since. We show that high fertilizer prices, driven by the formation of an international export cartel as well as high energy prices, explains the majority of the recent price spikes. In particular, we estimate the pure fertilizer cartel effect explains more than 60% of crisis food price increases. While population growth, biofuels, high energy prices and financial speculation doubtlessly put stress on food markets, our results help to understand the severity and sudden emergence of the crisis and suggest avenues to prevent its repetition. Working Paper | Policy Brief

Contact me

Hinnerk Gnutzmann
Institut für Makroökonomik
Leibniz Universität Hannover
Office: 1501-046
Königsworther Platz 1
30167 Hannover

Phone: +49 511 / 762-14574
E-Mail: gnutzmann at mak dot uni-hannover dot de
Alternate: hinnerk at gnutzmann dot info