Focus on Economics

Focus on Economics provides information on current themes, enabling the reader to quickly get to grips with various issues

Forwarding to KfW Research

Title

February 2023	Global carbon pricing: The rocky road to an effective global response to climate change(PDF, 1 MB, accessible)
January 2023	Skills shortage marks a turning point: The times of guaranteed growth are over(PDF, 307 KB, accessible)
December 2022	Germany’s close integration into global trade and value chains(PDF, 353 KB, accessible)
November 2022	The US dollar’s dominance remains virtually unchallenged(PDF, 235 KB, accessible)
October 2022	Two central banks – one problem: recession may follow inflation(PDF, 334 KB, accessible)
September 2022	GDP forecasting and greenhouse gas emissions – an integrated approach(PDF, 214 KB, accessible)
September 2022	Securing critical raw materials for the net zero and digital transformation(PDF, 295 KB, accessible)
August 2022	Vaccines ‘Made in Africa’: Considerations on building local vaccine production capacity(PDF, 369 KB, accessible)
July 2022	Public investment required to achieve climate neutrality in Germany(PDF, 396 KB, accessible)
July 2022	Types of SMEs in the innovation system: activities, constraints and successes(PDF, 266 KB, accessible)
July 2022	Trends in market: War in Ukraine is affecting investor expectations(PDF, 235 KB, accessible)
June 2022	SMEs that have a digitalisation strategy are more proactive in their digital evolution (PDF, 172 KB, accessible)
February 2022	Green inflation? Between climate action and price stability(PDF, 299 KB, accessible)
February 2022	Taper Tantrum 2.0 appears unlikely(PDF, 201 KB, non-accessible)
January 2022	China’s long-term development goals: a challenge to productivity(PDF, 382 KB, non-accessible)
December 2021	German SMEs invest EUR 22 billion in climate action to remain viable and competitive(PDF, 261 KB, non-accessible)
November 2021	The future is green – what opportunities are available to German business?(PDF, 242 KB, non-accessible)
October 2021	COP26 – three opportunities for global cooperation on climate action(PDF, 169 KB, non-accessible)
October 2021	Government spending: efficiency also matters(PDF, 273 KB, non-accessible)
October 2021	Digitalisation in international comparison: Germany lags far behind in IT investment(PDF, 197 KB, non-accessible)
October 2021	Supply bottlenecks are significantly impacting all areas of the SME sector(PDF, 165 KB, non-accessible)
October 2021	Investing EUR 5 trillion to reach climate neutrality – a surmountable challenge(PDF, 270 KB, non-accessible)
October 2021	Low globalisation momentum requires adjustment of German companies’ growth strategies(PDF, 238 KB, non-accessible)
October 2021	What’s next for Germany’s growth model? Scenarios for globalisation(PDF, 263 KB, non-accessible)
September 2021	Market environment and competition strategies shape innovation and digitalisation in small and medium-sized enterprises(PDF, 193 KB, non-accessible)
September 2021	German SMEs lack digital skills, need more training(PDF, 219 KB, non-accessible)
September 2021	The EU’s carbon border adjustment: A trade barrier or an opportunity for global climate action?(PDF, 293 KB, non-accessible)
August 2021	Which enterprises have been hit hardest by the coronavirus crisis and what lessons can we learn from it(PDF, 209 KB, non-accessible)
August 2021	No way back: Many SMEs expect the coronavirus crisis to have a lasting impact on product demand(PDF, 158 KB, non-accessible)
August 2021	The trade-offs between digitalisation and climate action: Why digitalisation must be sustainable(PDF, 203 KB, non-accessible)
July 2021	Sustainable finance in German municipalities: Can green municipal loans break the ice?(PDF, 239 KB, non-accessible)
July 2021	The significance of online credit platforms for SMEs: digital third-party financing still a niche product(PDF, 317 KB, non-accessible)
July 2021	Innovation and digitalisation in enterprises mutually reinforce each other(PDF, 216 KB, non-accessible)
July 2021	Africa’s long COVID: health consequences and vaccine shortages(PDF, 243 KB, non-accessible)
July 2021	Are higher interest rates and inflation ahead? A long-term view beyond the pandemic(PDF, 209 KB, non-accessible)
May 2021	Information technologies are not one of Germany’s strengths but of vital importance as technologies of the future(PDF, 220 KB, non-accessible)
May 2021	Shift to electric vehicles is gathering pace – but who is climbing into the driver’s seat?(PDF, 199 KB, non-accessible)
May 2021	A successful pandemic response requires more than basic preparedness(PDF, 185 KB, non-accessible)
April 2021	Continuing education has dropped in the crisis – need for digital skills is growing(PDF, 196 KB, non-accessible)
March 2021	Debt sustainability after the coronavirus crisis – interest rates and growth are pivotal(PDF, 237 KB, non-accessible)
March 2021	What is driving housing prices – risky speculation or sound calculation?(PDF, 148 KB, non-accessible)
March 2021	The coronavirus and foreign trade – the crisis accentuates long-term trends(PDF, 279 KB, non-accessible)
March 2021	Transitioning to climate neutrality by 2050: a major challenge for German industry(PDF, 253 KB, non-accessible)
March 2021	Technologies of the future for Germany: The country is well placed in many areas but some need readjustment(PDF, 165 KB, non-accessible)
February 2021	More practical vocational training may ease skills shortage in Central-Eastern Europe(PDF, 235 KB, non-accessible)
February 2021	A ray of light: Residential construction investment is up despite coronavirus crisis(PDF, 267 KB, non-accessible)
February 2021	Artificial intelligence: high growth potential but low penetration in SMEs(PDF, 251 KB, non-accessible)
February 2021	Coronavirus update on municipal finance: 2021 will be another nail biter(PDF, 195 KB, non-accessible)
January 2021	Coronavirus crisis is hampering innovation, digitalisation sees mixed trend(PDF, 184 KB, non-accessible)
January 2021	Pragmatism in trade policy: regional trade agreements(PDF, 228 KB, non-accessible)
December 2020	Short-term shock with lasting effects: The coronavirus crisis and international value chains(PDF, 230 KB, non-accessible)
December 2020	Status report on SME succession 2020: Well-prepared into the crisis – coronavirus exacerbates start-up downturn(PDF, 247 KB, non-accessible)
November 2020	SMEs between financial resilience and a digital and green investment surge – a trade-off that should not be(PDF, 368 KB, non-accessible)
November 2020	Nigeria’s tech scene between coronavirus and infrastructure deficits(PDF, 130 KB, non-accessible)
October 2020	Which SMEs use digital platforms?(PDF, 214 KB, non-accessible)
October 2020	For crisis-resilient growth and better global collaboration(PDF, 223 KB, non-accessible)
October 2020	Uncertainty and economic activity in Germany(PDF, 319 KB, non-accessible)
September 2020	How effectively do Germany’s foreign trade and investment promotion schemes support investment in Africa?(PDF, 339 KB, non-accessible)
August 2020	The ECB’s inflation target: flexible future(PDF, 214 KB, non-accessible)
July 2020	Will economic relations between Germany and Poland thrive post-coronavirus?(PDF, 176 KB, non-accessible)
July 2020	Innovation during the coronavirus crisis: necessity is the mother of invention(PDF, 181 KB, non-accessible)
June 2020	Coronavirus crisis in Germany’s SMEs: Return to full economic activity still far off but gradual opening has eased pressure on liquidity(PDF, 148 KB, non-accessible)
June 2020	What puts low income countries in this category?(PDF, 200 KB, non-accessible)
June 2020	SMEs are responding creatively to the coronavirus crisis(PDF, 135 KB, non-accessible)
April 2020	Economic impact of the COVID-19 pandemic on Latin America(PDF, 169 KB, non-accessible)
April 2020	SMEs are firmly in the grip of the coronavirus crisis but (still) holding on strong(PDF, 214 KB, non-accessible)
April 2020	Housing with improved accessibility: ageing is a strong driver of demand – support is working(PDF, 165 KB, non-accessible)
April 2020	Considerations on the economic impact of the coronavirus pandemic on Africa(PDF, 322 KB, non-accessible)
March 2020	Financing of digitalisation and capital expenditure in SMEs – a comparison(PDF, 201 KB, non-accessible)
February 2020	Sustainable maritime shipping and climate action(PDF, 225 KB, non-accessible)
February 2020	Small and medium-sized enterprises offer family-friendly working conditions as a way to attract skilled workers(PDF, 220 KB, non-accessible)
February 2020	Digital skills shortage is hampering German SMEs’ digital transformation – is upskilling the answer?(PDF, 144 KB, non-accessible)
December 2019	SME succession in Germany: ‘Mittelstand’ needs 152,000 successors by the end of 2021 – external investors wanted(PDF, 186 KB, non-accessible)
December 2019	How do Germany’s housing costs compare with the rest of the EU?(PDF, 189 KB, non-accessible)
December 2019	Housing market: The social market economy can do better than freezing rents(PDF, 183 KB, non-accessible)
December 2019	Brexit and the UK’s regional divide: a cautionary example(PDF, 166 KB, non-accessible)
November 2019	North-south, east-west – thoughts on Germany 30 years after the fall of the Wall(PDF, 160 KB, non-accessible)
September 2019	The Sustainable Development Goals – SDG reporting by banks(PDF, 547 KB, non-accessible)
August 2019	Business performance of different types of small and medium-sized innovators(PDF, 326 KB, non-accessible)
August 2019	Interactive learning or R&D: How do small and medium-sized enterprises generate innovations?(PDF, 372 KB, non-accessible)
August 2019	70 years of social market economy: a cause for celebration, several occasions for reform(PDF, 2 MB, non-accessible)
August 2019	Structural reforms – easier said than done(PDF, 339 KB, non-accessible)
July 2019	The circular economy – pivotal to sustainability and resource security(PDF, 404 KB, non-accessible)
July 2019	High debt distress risk – a ‘typically’ African problem?(PDF, 296 KB, non-accessible)
July 2019	China’s Belt and Road Initiative: too early for success stories(PDF, 337 KB, non-accessible)
May 2019	Côte d'Ivoire – more than just cocoa!(PDF, 290 KB, non-accessible)
March 2019	Digitalisation: Much ado about nothing or is there more to come?(PDF, 373 KB, non-accessible)
March 2019	Ethiopia in 2025: an up-and-coming industrial hub in Africa?(PDF, 310 KB, non-accessible)
March 2019	A successful energy transition requires a CO2-oriented energy price reform(PDF, 402 KB, non-accessible)
March 2019	Trump's tax reform: not very effective and at the wrong time(PDF, 272 KB, non-accessible)
March 2019	Germany’s work force sees need for skilled migration – degree of approval varies by education, income and region(PDF, 334 KB, non-accessible)
March 2019	Green bonds – a sustainable alternative for municipal infrastructure finance?(PDF, 325 KB, non-accessible)
March 2019	Biological diversity – why it is so important(PDF, 327 KB, non-accessible)
February 2019	German SMEs are very loyal to their principal bank(PDF, 225 KB, non-accessible)
February 2019	Start-up location Germany: fear of failure could be countered with better economic education(PDF, 343 KB, non-accessible)
February 2019	Status report on SME succession: Planning steady at a high level(PDF, 346 KB, non-accessible)
January 2019	Migrant start-ups – a stronger desire for self-employment(PDF, 234 KB, non-accessible)
January 2019	Emerging from the niche: 154,000 ‘young’ social entrepreneurs in Germany in 2017(PDF, 350 KB, non-accessible)
January 2019	How SMEs fund their innovation and investment expenditure – a comparison(PDF, 328 KB, non-accessible)
December 2018	Determinants of digitalisation and innovation behaviour in the SME sector(PDF, 340 KB, non-accessible)
November 2018	Businesses are saving more than they are investing – hampering any rapid correction of Germany’s current account imbalance(PDF, 314 KB, non-accessible)
November 2018	Low-income country debt: the worry lines are not easing off(PDF, 312 KB, non-accessible)
November 2018	Waiting for the M&A boom in the ICT sector – despite digitalisation(PDF, 323 KB, non-accessible)
November 2018	Many job openings, few job seekers: SMEs expect a shortage of skilled workers(PDF, 294 KB, non-accessible)
November 2018	Local currency bond markets as an integral part of a developed financial system(PDF, 282 KB, non-accessible)
October 2018	What TARGET balances are and how they emerge(PDF, 344 KB, non-accessible)
October 2018	More Chinese M&A deals in the German SME sector – but the share remains negligible(PDF, 752 KB, non-accessible)
October 2018	M&A deals in the German SME sector – manufacturers are most sought after(PDF, 361 KB, non-accessible)
October 2018	Germany’s real estate boom: Is this time different?(PDF, 158 KB, non-accessible)
October 2018	The value of a bitcoin: more competition in payments(PDF, 143 KB, non-accessible)
October 2018	The long climb out of the crisis low: investment recovery in the euro area continues(PDF, 372 KB, non-accessible)
September 2018	Unemployment in North Africa – men without jobs are not the only problem(PDF, 77 KB, non-accessible)
September 2018	As energy prices fall, SMEs have lower costs – and increased efforts for energy efficiency and energy cost savings (PDF, 236 KB, non-accessible)
July 2018	Concerns about ‘zombie companies’ in the SME sector are unfounded(PDF, 76 KB, accessible)
July 2018	Turkey after the elections: What are the chances for new economic policies?(PDF, 245 KB, non-accessible)
July 2018	Allemagne en marche?! Municipal investment backlogs in France and Germany(PDF, 384 KB, non-accessible)
July 2018	Is there no end to Germany’s jobs boom? What we can do now to meet our skills needs in the future(PDF, 368 KB, non-accessible)
July 2018	Digitalisation in the textile, apparel and footwear industry – a threat to industrialising and developing market economies?(PDF, 71 KB, non-accessible)
July 2018	How energy-efficient is Germany?(PDF, 125 KB, non-accessible)
June 2018	International trade in services – German SMEs are active too(PDF, 90 KB, non-accessible)
June 2018	Japan: Is record low unemployment finally bringing back inflation?(PDF, 126 KB, non-accessible)
June 2018	Reforms in France: focused and fast(PDF, 133 KB, non-accessible)
June 2018	US trade policy targets symptoms, not causes(PDF, 84 KB, non-accessible)
June 2018	USD / EUR exchange rate: Expectations and risk premiums are main drivers, not yield spread(PDF, 250 KB, non-accessible)
May 2018	EU partnership agreements alone cannot solve structural problems in trade with Africa(PDF, 80 KB, non-accessible)
April 2018	The smart city as a solution to municipal challenges?(PDF, 225 KB, non-accessible)
March 2018	Digitalisation in German SMEs: state of implementation and investment(PDF, 166 KB, non-accessible)
March 2018	Weak productivity: different causes require different therapies(PDF, 152 KB, non-accessible)
March 2018	Credit markets in the euro area: heterogeneous but healthy(PDF, 203 KB, non-accessible)
March 2018	Italy’s debt sustainability: stable but with room for improvement through more growth(PDF, 118 KB, non-accessible)
January 2018	Wave of successions in German SMEs: 240,000 successors wanted by 2019(PDF, 166 KB, non-accessible)
January 2018	Sovereign debt in emerging market economies is a country-specific issue(PDF, 64 KB, non-accessible)
December 2017	Declining municipal investment backlog – a trend reversal or just a temporary breather?(PDF, 186 KB, non-accessible)
December 2017	Research and development (R&D) in SMEs: internal funding capacity determines scope of R&D expenditure(PDF, 276 KB, non-accessible)
December 2017	Green finance – green banking(PDF, 123 KB, non-accessible)
November 2017	Consumer loans in the USA: be vigilant but not afraid(PDF, 126 KB, non-accessible)
November 2017	SME innovations: Seven reasons for the decline in the share of innovators(PDF, 174 KB, non-accessible)
October 2017	Starting a business with kids: mompreneurs balance work and family life(PDF, 214 KB, non-accessible)
October 2017	The happy few: German SMEs investing abroad(PDF, 121 KB, non-accessible)
October 2017	The world is not a village – geographic proximity to export markets is crucial to SMEs(PDF, 155 KB, non-accessible)
October 2017	Branch closures: German banks are shifting up a gear amid Herculean challenge of digitisation(PDF, 583 KB, non-accessible)
August 2017	Economic prospects for sub-Saharan-Africa and the role of urbanisation(PDF, 303 KB, non-accessible)
August 2017	Current account balance: reduce surplus, make Germany stronger(PDF, 252 KB, non-accessible)
August 2017	Success factors of high-growth enterprises(PDF, 131 KB, non-accessible)
July 2017	Monetary policy has reduced fiscal pressure in euro area – but interest rate turnaround is coming(PDF, 73 KB, non-accessible)
June 2017	Russia – import substitution during recession(PDF, 167 KB, non-accessible)
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?(PDF, 175 KB, non-accessible)
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(PDF, 194 KB, non-accessible)
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