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KfW Research – Research in economy, society and environment

We are KfW’s centre of economic expertise. We offer up-to-date analyses, indicators and surveys on the economic development in Germany and around the world. We take a stand with our economic policy recommendations and forecasts. We stimulate public economic discussions and set the basis for KfW’s promotional activities. Our focus is on energy and the environment, SMEs, start-ups, innovations, overall economic performance and growth.

Starting blocks

KfW Entrepreneurship Monitor 2022

More female, young and opportunity business starters in 2021

Young Entrepreneurs sitting on a table

Types of innovative SMEs

Remarkable innovation successes also from innovative SMEs without R&D.

New publications

  • 2022-08-02KfW Research

    KfW Credit Market Outlook July 2022

  • 2022-07-18KfW Research

    KfW-ifo Credit Constraint Indicator Q2 2022

  • 2022-07-14KfW Research

    Types of SMEs in the innovation system: activities, constraints and successes

More news


Current comments and economic forecasts for Germany and the euro area.


Germany in a global setting

KfW Research analyses of international challenges

The corona crisis and its impact

The corona crisis

KfW Research papers and studies regarding the crisis

Publications by topic

Want to find out more about our research findings and positions? Here you can browse through our publications, sorted by subject area.

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Publication series

KfW Research publications by series.

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Dr Friederike Köhler-Geib

KfW Chief Economist and Head of Division KfW Research

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About KfW Research

Are you interested in how we work? Find out more about our focal areas and organisation.

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Newsletter KfW Research

We would be happy to provide you with regular updates from KfW Research.



KfW Research, KfW Bankengruppe, Palmengartenstr. 5-9, 60325 Frankfurt,