Focus on Economics

    Focus on Economics

    Focus on Economics provides information on current themes, enabling readers to quickly get to grips with a range of issues

    February 2026 The international competitive position of German SMEs is under pressure
    February 2026 US dollar: between safe-haven currency and political uncertainty
    November 2025 Start-ups in Germany – growth and exit pathways through venture capital
    September 2025 A rare opportunity: What are the chances for reducing rare earth dependence?
    September 2025 When politics dictates interest rates: the Federal Reserve's independence under stress testing
    August 2025 Growing demand for electric cars – German exports are also picking up
    July 2025 Trends in cross-border venture capital investments in Germany and Europe
    July 2025 Growth weakness due to skills shortages: What would business as usual mean, what can we do?
    June 2025 Is a fiscal tipping point looming? Key challenges facing the US in the coming years
    April 2025 SMEs spend seven per cent of their working time on administrative processes
    March 2025 The German venture capital market after the boom and bust: Returning to a sustained upward trend should be the goal
    February 2025 Heat pumps are gaining ground in Europe – electricity prices matter
    February 2025 Venture capital – market trends in 2025
    October 2024 SMEs see growing risks to their international competitiveness
    August 2024 Nearly half of households are open to green financial investments – transparency on climate impact is crucial
    June 2024 Artificial intelligence in Germany: Status quo, opportunities and options for economic policy measures
    May 2024 Germany’s competitiveness – from ‘sick man of Europe’ to superstar and back: Where does the economy stand?
    April 2024 Half of all firms in Germany already use electricity from renewables but use of climate-friendly heat is much less common
    April 2024 The potential for household photovoltaics in Germany
    March 2024 Set in stone? The German economy’s dependency on copper, lithium and rare earths
    February 2024 High skills requirements make hiring a challenge, especially for innovative enterprises
    February 2024 Status report on SME succession 2023: Despite successor shortage, three quarters of successions will be sorted by the end of 2024
    January 2024 Venture capital: Market observations using social media sentiment analyses
    December 2023 Main motive for SMEs to invest abroad is to expand into new sales markets
    November 2023 Natural gas as a bridge to climate neutrality in Germany – a reassessment
    April 2023 Shocks, dependencies and trends – considerations on international production networks
    April 2023 Municipal climate action investment: between growing needs and limited resources
    February 2023 Global carbon pricing: The rocky road to an effective global response to climate change
    January 2023 Skills shortage marks a turning point: The times of guaranteed growth are over
    December 2022 Germany’s close integration into global trade and value chains
    November 2022 The US dollar’s dominance remains virtually unchallenged
    October 2022 Two central banks – one problem: recession may follow inflation
    September 2022 GDP forecasting and greenhouse gas emissions – an integrated approach
    September 2022 Securing critical raw materials for the net zero and digital transformation
    August 2022 Vaccines ‘Made in Africa’: Considerations on building local vaccine production capacity
    July 2022 Public investment required to achieve climate neutrality in Germany
    July 2022 Types of SMEs in the innovation system: activities, constraints and successes
    July 2022 Trends in market: War in Ukraine is affecting investor expectations
    June 2022 SMEs that have a digitalisation strategy are more proactive in their digital evolution
    February 2022 Green inflation? Between climate action and price stability
    February 2022 Taper Tantrum 2.0 appears unlikely
    January 2022 China’s long-term development goals: a challenge to productivity
    December 2021 German SMEs invest EUR 22 billion in climate action to remain viable and competitive
    November 2021 The future is green – what opportunities are available to German business?
    October 2021 COP26 – three opportunities for global cooperation on climate action
    October 2021 Government spending: efficiency also matters
    October 2021 Digitalisation in international comparison: Germany lags far behind in IT investment
    October 2021 Supply bottlenecks are significantly impacting all areas of the SME sector
    October 2021 Investing EUR 5 trillion to reach climate neutrality – a surmountable challenge
    October 2021 Low globalisation momentum requires adjustment of German companies’ growth strategies
    October 2021 What’s next for Germany’s growth model? Scenarios for globalisation
    September 2021 Market environment and competition strategies shape innovation and digitalisation in small and medium-sized enterprises
    September 2021 German SMEs lack digital skills, need more training
    September 2021 The EU’s carbon border adjustment: A trade barrier or an opportunity for global climate action?
    August 2021 Which enterprises have been hit hardest by the coronavirus crisis and what lessons can we learn from it
    August 2021 No way back: Many SMEs expect the coronavirus crisis to have a lasting impact on product demand
    August 2021 The trade-offs between digitalisation and climate action: Why digitalisation must be sustainable
    July 2021 Sustainable finance in German municipalities: Can green municipal loans break the ice?
    July 2021 The significance of online credit platforms for SMEs: digital third-party financing still a niche product
    July 2021 Innovation and digitalisation in enterprises mutually reinforce each other
    July 2021 Africa’s long COVID: health consequences and vaccine shortages
    July 2021 Are higher interest rates and inflation ahead? A long-term view beyond the pandemic
    May 2021 Information technologies are not one of Germany’s strengths but of vital importance as technologies of the future
    May 2021 Shift to electric vehicles is gathering pace – but who is climbing into the driver’s seat?
    May 2021 A successful pandemic response requires more than basic preparedness
    April 2021 Continuing education has dropped in the crisis – need for digital skills is growing
    March 2021 Debt sustainability after the coronavirus crisis – interest rates and growth are pivotal
    March 2021 What is driving housing prices – risky speculation or sound calculation?
    March 2021 The coronavirus and foreign trade – the crisis accentuates long-term trends
    March 2021 Transitioning to climate neutrality by 2050: a major challenge for German industry
    March 2021 Technologies of the future for Germany: The country is well placed in many areas but some need readjustment
    February 2021 More practical vocational training may ease skills shortage in Central-Eastern Europe
    February 2021 A ray of light: Residential construction investment is up despite coronavirus crisis
    February 2021 Artificial intelligence: high growth potential but low penetration in SMEs
    February 2021 Coronavirus update on municipal finance: 2021 will be another nail biter
    January 2021 Coronavirus crisis is hampering innovation, digitalisation sees mixed trend
    January 2021 Pragmatism in trade policy: regional trade agreements
    December 2020 Short-term shock with lasting effects: The coronavirus crisis and international value chains
    December 2020 Status report on SME succession 2020: Well-prepared into the crisis – coronavirus exacerbates start-up downturn
    November 2020 SMEs between financial resilience and a digital and green investment surge – a trade-off that should not be
    November 2020 Nigeria’s tech scene between coronavirus and infrastructure deficits
    October 2020 Which SMEs use digital platforms?
    October 2020 For crisis-resilient growth and better global collaboration
    October 2020 Uncertainty and economic activity in Germany
    September 2020 How effectively do Germany’s foreign trade and investment promotion schemes support investment in Africa?
    August 2020 The ECB’s inflation target: flexible future
    July 2020 Will economic relations between Germany and Poland thrive post-coronavirus?
    July 2020 Innovation during the coronavirus crisis: necessity is the mother of invention
    June 2020 Coronavirus crisis in Germany’s SMEs: Return to full economic activity still far off but gradual opening has eased pressure on liquidity
    June 2020 What puts low income countries in this category?
    June 2020 SMEs are responding creatively to the coronavirus crisis
    April 2020 Economic impact of the COVID-19 pandemic on Latin America
    April 2020 SMEs are firmly in the grip of the coronavirus crisis but (still) holding on strong
    April 2020 Housing with improved accessibility: ageing is a strong driver of demand – support is working
    April 2020 Considerations on the economic impact of the coronavirus pandemic on Africa
    March 2020 Financing of digitalisation and capital expenditure in SMEs – a comparison
    February 2020 Sustainable maritime shipping and climate action
    February 2020 Small and medium-sized enterprises offer family-friendly working conditions as a way to attract skilled workers
    February 2020 Digital skills shortage is hampering German SMEs’ digital transformation – is upskilling the answer?
    December 2019 SME succession in Germany: ‘Mittelstand’ needs 152,000 successors by the end of 2021 – external investors wanted
    December 2019 How do Germany’s housing costs compare with the rest of the EU?
    December 2019 Housing market: The social market economy can do better than freezing rents
    December 2019 Brexit and the UK’s regional divide: a cautionary example
    November 2019 North-south, east-west – thoughts on Germany 30 years after the fall of the Wall
    September 2019 The Sustainable Development Goals – SDG reporting by banks
    August 2019 Business performance of different types of small and medium-sized innovators
    August 2019 Interactive learning or R&D: How do small and medium-sized enterprises generate innovations?
    August 2019 70 years of social market economy: a cause for celebration, several occasions for reform
    August 2019 Structural reforms – easier said than done
    July 2019 The circular economy – pivotal to sustainability and resource security
    July 2019 High debt distress risk – a ‘typically’ African problem?
    July 2019 China’s Belt and Road Initiative: too early for success stories
    May 2019 Côte d'Ivoire – more than just cocoa!
    March 2019 Digitalisation: Much ado about nothing or is there more to come?
    March 2019 Ethiopia in 2025: an up-and-coming industrial hub in Africa?
    March 2019 A successful energy transition requires a CO2-oriented energy price reform
    March 2019 Trump's tax reform: not very effective and at the wrong time
    March 2019 Germany’s work force sees need for skilled migration – degree of approval varies by education, income and region
    March 2019 Green bonds – a sustainable alternative for municipal infrastructure finance?
    March 2019 Biological diversity – why it is so important
    February 2019 German SMEs are very loyal to their principal bank
    February 2019 Start-up location Germany: fear of failure could be countered with better economic education
    February 2019 Status report on SME succession: Planning steady at a high level
    January 2019 Migrant start-ups – a stronger desire for self-employment
    January 2019 Emerging from the niche: 154,000 ‘young’ social entrepreneurs in Germany in 2017
    January 2019 How SMEs fund their innovation and investment expenditure – a comparison
    December 2018 Determinants of digitalisation and innovation behaviour in the SME sector
    November 2018 Businesses are saving more than they are investing – hampering any rapid correction of Germany’s current account imbalance
    November 2018 Low-income country debt: the worry lines are not easing off
    November 2018 Waiting for the M&A boom in the ICT sector – despite digitalisation
    November 2018 Many job openings, few job seekers: SMEs expect a shortage of skilled workers
    November 2018 Local currency bond markets as an integral part of a developed financial system
    October 2018 What TARGET balances are and how they emerge
    October 2018 More Chinese M&A deals in the German SME sector – but the share remains negligible
    October 2018 M&A deals in the German SME sector – manufacturers are most sought after
    October 2018 Germany’s real estate boom: Is this time different?
    October 2018 The value of a bitcoin: more competition in payments
    October 2018 The long climb out of the crisis low: investment recovery in the euro area continues
    September 2018 Unemployment in North Africa – men without jobs are not the only problem
    September 2018 As energy prices fall, SMEs have lower costs – and increased efforts for energy efficiency and energy cost savings
    July 2018 Concerns about ‘zombie companies’ in the SME sector are unfounded
    July 2018 Turkey after the elections: What are the chances for new economic policies?
    July 2018 Allemagne en marche?! Municipal investment backlogs in France and Germany
    July 2018 Is there no end to Germany’s jobs boom? What we can do now to meet our skills needs in the future
    July 2018 Digitalisation in the textile, apparel and footwear industry – a threat to industrialising and developing market economies?
    July 2018 How energy-efficient is Germany?
    June 2018 International trade in services – German SMEs are active too
    June 2018 Japan: Is record low unemployment finally bringing back inflation?
    June 2018 Reforms in France: focused and fast
    June 2018 US trade policy targets symptoms, not causes
    June 2018 USD / EUR exchange rate: Expectations and risk premiums are main drivers, not yield spread
    May 2018 EU partnership agreements alone cannot solve structural problems in trade with Africa
    April 2018 The smart city as a solution to municipal challenges?
    March 2018 Digitalisation in German SMEs: state of implementation and investment
    March 2018 Weak productivity: different causes require different therapies
    March 2018 Credit markets in the euro area: heterogeneous but healthy
    March 2018 Italy’s debt sustainability: stable but with room for improvement through more growth
    January 2018 Wave of successions in German SMEs: 240,000 successors wanted by 2019
    January 2018 Sovereign debt in emerging market economies is a country-specific issue
    December 2017 Declining municipal investment backlog – a trend reversal or just a temporary breather?
    December 2017 Research and development (R&D) in SMEs: internal funding capacity determines scope of R&D expenditure
    December 2017 Green finance – green banking
    November 2017 Consumer loans in the USA: be vigilant but not afraid
    November 2017 SME innovations: Seven reasons for the decline in the share of innovators
    October 2017 Starting a business with kids: mompreneurs balance work and family life
    October 2017 The happy few: German SMEs investing abroad
    October 2017 The world is not a village – geographic proximity to export markets is crucial to SMEs
    October 2017 Branch closures: German banks are shifting up a gear amid Herculean challenge of digitisation
    August 2017 Economic prospects for sub-Saharan-Africa and the role of urbanisation
    August 2017 Current account balance: reduce surplus, make Germany stronger
    August 2017 Success factors of high-growth enterprises
    July 2017 Monetary policy has reduced fiscal pressure in euro area – but interest rate turnaround is coming
    June 2017 Russia – import substitution during recession
    May 2017 SMEs exporting to the USA: innovative high performers
    April 2017 Can an expansive fiscal policy deliver an economic miracle in the USA?
    April 2017 Business investment: waiting for Godot?
    April 2017 China’s rapid rise affects other developing and emerging countries at various levels
    April 2017 Migrants have more and larger start-ups: more hours a week, more employees
    March 2017 What has the EU done for us? Taking stock of 60 years of European integration
    March 2017 ECB policy remains unchanged – despite temporarily higher inflation
    February 2017 SMEs in Germany are slow to adopt e-commerce
    January 2017 Inflation in Germany rises only briefly above two per cent
    January 2017 SMEs all over the world are promoting social interests
    January 2017 Labour mobility in Europe does little to mitigate economic shocks – national labour markets absorb adjustment pressure
    January 2017 Euro area labour markets: reform successes are a good signal for employment
    January 2017 Foreign workers in German SMEs: a strong plea for free labour markets
    January 2017 Participation in continuing education is unequal – especially by prior attainment
    December 2016 Euro area credit markets: step by step, little by little
    December 2016 First, more money and now, more staff – what do municipalities need in order to invest?
    December 2016 South America after the commodity boom – productivity worries are back
    December 2016 Turkey has made much progress but remains highly vulnerable
    November 2016 Access to credit varies considerably depending on the purpose
    November 2016 The decentralised global monetary system requires an efficient safety net
    October 2016 No pain, no gain? Economic adjustment programmes in Greece and Portugal
    September 2016 Investment backlog in schools hampers educational performance
    September 2016 Crude oil price no longer drives inflation expectations
    August 2016 Fiscal policy in the euro area – greater focus on the economic cycle and closer coordination between member states
    August 2016 SMEs and digitalisation: The current position, recent developments and challenges
    August 2016 SMEs' value chains are becoming more international – Europe remains key
    August 2016 Large German firms invest roughly the same amounts at home and abroad
    August 2016 With good politics, sub-Saharan Africa can make up more lost ground
    July 2016 Labour productivity of large euro area countries drifts apart – Italy falling behind
    July 2016 Transfer-planing entrepreneurs outnumber takeover entrepreneurs 3 to 1
    July 2016 Ageing boosts SMEs’ need for successors – 620,000 business transitions by 2018
    July 2016 No turn of the tides in U.S. trade
    June 2016 SMEs face a wide range of barriers to innovation – support policy needs to be broad-based
    June 2016 The energy transition will not work without a heating transition
    June 2016 Demographic change bolsters private consumption and SME growth
    May 2016 ECB policy has saved euro states from severe economic hardship since 2012
    May 2016 SMEs and innovation: enterprises innovate less as their workforce ages
    April 2016 Germany’s demographic trap – integrating refugees is only part of the solution
    April 2016 Common challenges for Europe and Asia as interdependence grows
    April 2016 Older workers in SMEs – a golden asset or a liability?
    March 2016 Friedman beats Schumpeter – stability, not crisis, fosters dynamic small and medium-sized entrepreneurship
    February 2016 TTIP – an opportunity for European SMEs
    February 2016 Harnessing the potential of digitalisation – with data protection and IT security
    January 2016 Migrants are more active entrepreneurs – mostly as a result of labour market conditions
    December 2015 What are the hallmarks of consistently successful businesses?
    November 2015 Fuelling the future with natural gas
    November 2015 Are start-ups the same throughout Germany? Hardly! A comparison of German states
    November 2015 Which factors influence redistribution? Perception and evaluation of inequality
    November 2015 Influx of refugees to Germany requires investment in housing, schools and minds
    October 2015 Financial literacy helps with business startups: easier, better funded, more competitive
    September 2015 Japan’s demographic millstone
    August 2015 An international comparison of R&D: Germany benefits from industrial research strength
    August 2015 Latest developments in China: tricky, but no reason to panic (just yet)
    July 2015 More hype than substance? Not all is rosy on the US job market
    July 2015 How female is the world of small business? Women as business leaders
    July 2015 Recruitment of skilled workers in SMEs: Optimism must not distract from qualification problems
    July 2015 Germany’s private equity market lacks venture capital
    July 2015 Energy cost drivers: It’s not just about electricity!
    June 2015 North African countries face common economic challenges
    June 2015 Oil: a price with many implications
    April 2015 Succession planning in SME sector in full swing: Half a million hand-overs by 2017
    March 2015 An end to energy subsidies in developing countries and emerging markets – if not now, then when?
    March 2015 SME borrowing: large loans in high demand
    March 2015 EnglishIs it really just the oil price? Some general observations on inflation in the euro area
    March 2015 Competition policy: a question of enforcement
    March 2015 Ageing of German SME owners is putting a dampener on investment
    March 2015 World trade with interesting but alarming trends
    February 2015 Where there’s a will, is there a way? Barriers to becoming self-employed
    January 2015 Entrepreneurial graduates rely on business ideas from professional practice
    January 2015 Take It Easy? A look at the consolidation of public finances in the US
    January 2015 Decline in working hours threatens to exacerbate the consequences of an ageing population
    December 2014 Japan has not (yet) failed
    October 2014 European housing markets: are overheating concerns justified?
    October 2014 Development of low-income countries paints a mixed picture
    September 2014 Arrived at normality – Germany 25 years after the fall of the Berlin Wall
    September 2014 Monetary policy coordination or not – is that issue here?
    August 2014 A fair look at France
    July 2014 Russia – limited international economic relations
    June 2014 Investments: SMEs still in the black, large companies long since in the red
    June 2014 Reforms in China: not only urgent in the country's own interests, but also beneficial to the rest of the world
    May 2014 Italy is different: Beyond labour market reforms
    May 2014 Portugal – a phoenix rising from the ashes?
    May 2014 Ukraine: IMF loan cannot prevent economic crisis
    April 2014 Energy from Russia and the alternatives
    April 2014 KfW SME Panel 2013: How German SMEs finance their innovations
    March 2014 The network of Germany's bank branches is dwindling
    February 2014 Where is China headed and what does this mean for Germany and the world?
    February 2014 Should we feel bad about debt?
    February 2014 The Problem of Balance of Payment Imbalances
    January 2014 Youth unemployment in Southern Europe – Result of the crisis or a flaw in the system?
    January 2014 KfW SME Panel 2013: Innovation Are German SMEs finally in the starting blocks?
    January 2014 How can car sharing help in the energy turnaround?
    December 2013 Energy costs and energy efficiency in the German SME sector
    December 2013 Germany's entrepreneurial culture: strengths and weaknesses
    December 2013 Creating the right incentives! – Modifying Germany’s EEG exemption scheme for manufacturing industry
    November 2013 Fiscal consolidation in Spain: the battle goes on
    November 2013 Ireland: Return with risks
    November 2013 Strong exports are good for Germany, excessive current account surpluses are not
    November 2013 Solving the demographic problem
    October 2013 Have the old still what it takes?Differences in the innovative output of young and old entrepreneurs
    September 2013 World of difference between Fed and ECB monetary policy
    September 2013 Debt in Low Income Countries: crisis eases, risks remain
    September 2013 Municipalities under construction: demographic change meets communal infrastructure
    September 2013 How companies recognise, exploit and overcome crises
    September 2013 Good advice helps – and it needn't be expensive
    August 2013 Tough climate for German SMEs: competition increases, the three 'I's promise success
    July 2013 Low debt entrepreneurs: in financing matters, women entrepreneurs play it safe
    July 2013 Emerging economies China and India: heavyweights facing big challenges
    July 2013 Diversity is crucial: how the SME sector in Germany compares with others in Europe
    May 2013 Sideline start-ups rarely transition to fulltime ventures
    May 2013 Routes out of recession: improving competitiveness in Germany, France and Italy
    May 2013 Investing for the future
    May 2013 Learning to succeed: how SMEs benefit from the international exchange of ideas
    April 2013 Fracking - you snooze, you lose?
    March 2013 You get what you pay for – The remuneration structure of VC funds and its consequences
    February 2013 The Asian Crisis of 1997: No patent remedies for solving the Eurozone debt crisis
    February 2013 Loans for SMEs – gap in Europe widens further
    January 2013 "Big Bertha" and its effectiveness
    January 2013 KfW programmes on energy-efficient housing substantially contribute to the German energy turnaround
    January 2013 The innovation motor is sputtering Innovation activities in the German SME sector
    December 2012 Fiscal Policy in Emerging Markets – Successes and Challenges
    November 2012 To be the Leader of the pack? Innovation strategies in the German SME sector
    November 2012 Ways out of the euro crisis: Growth needs financing
    September 2012 Barriers to innovation in SMEs

    Contact

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

    Follow KfW Research on

    KfW Research

    Current analyses, indicators and polls on business cycles and the economy, both in Germany and worldwide.

    Read more