Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/145777
Authors: 
Gnutzmann, Hinnerk
Spiewanowski, Piotr
Year of Publication: 
2016
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2016: Demographischer Wandel - Session: International Trade and Development A19-V2
Abstract: 
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 up to 50% 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.
JEL: 
F10
L40
Q02
Document Type: 
Conference Paper

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