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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

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December 2019 How do Germany’s housing costs compare with the rest of the EU?  (PDF, 135 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 2017Can an expansive fiscal policy deliver an economic miracle in the USA?
April 2017Business investment: waiting for Godot?
April 2017China’s rapid rise affects other developing and emerging countries at various levels
April 2017Migrants have more and larger start-ups: more hours a week, more employees
March 2017What has the EU done for us? Taking stock of 60 years of European integration
March 2017ECB policy remains unchanged – despite temporarily higher inflation
February 2017SMEs in Germany are slow to adopt e-commerce
January 2017Inflation in Germany rises only briefly above two per cent
January 2017SMEs all over the world are promoting social interests
January 2017Labour mobility in Europe does little to mitigate economic shocks – national labour markets absorb adjustment pressure
January 2017Euro area labour markets: reform successes are a good signal for employment
January 2017Foreign workers in German SMEs: a strong plea for free labour markets
January 2017Participation in continuing education is unequal – especially by prior attainment
December 2016Euro 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 2016South America after the commodity boom – productivity worries are back
December 2016Turkey has made much progress but remains highly vulnerable
November 2016Access to credit varies considerably depending on the purpose
November 2016The decentralised global monetary system requires an efficient safety net
October 2016No 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 2016Crude oil price no longer drives inflation expectations
August 2016Fiscal policy in the euro area – greater focus on the economic cycle and closer coordination between member states
August 2016SMEs and digitalisation: The current position, recent developments and challenges
August 2016SMEs' value chains are becoming more international – Europe remains key
August 2016Large German firms invest roughly the same amounts at home and abroad
August 2016With good politics, sub-Saharan Africa can make up more lost ground
July 2016Labour productivity of large euro area countries drifts apart – Italy falling behind
July 2016Transfer-planing entrepreneurs outnumber takeover entrepreneurs 3 to 1
July 2016Ageing boosts SMEs’ need for successors – 620,000 business transitions by 2018
July 2016No turn of the tides in U.S. trade
June 2016SMEs face a wide range of barriers to innovation – support policy needs to be broad-based
June 2016The energy transition will not work without a heating transition
June 2016Demographic change bolsters private consumption and SME growth
May 2016ECB policy has saved euro states from severe economic hardship since 2012
May 2016SMEs and innovation: enterprises innovate less as their workforce ages
April 2016Germany’s demographic trap – integrating refugees is only part of the solution
April 2016Common challenges for Europe and Asia as interdependence grows
April 2016Older workers in SMEs – a golden asset or a liability?
March 2016Friedman beats Schumpeter – stability, not crisis, fosters dynamic small and medium-sized entrepreneurship
February 2016TTIP – an opportunity for European SMEs
February 2016Harnessing the potential of digitalisation – with data protection and IT security
January 2016Migrants are more active entrepreneurs – mostly as a result of labour market conditions
December 2015What are the hallmarks of consistently successful businesses?
November 2015Fuelling the future with natural gas
November 2015Are start-ups the same throughout Germany? Hardly! A comparison of German states
November 2015Which factors influence redistribution? Perception and evaluation of inequality
November 2015Influx of refugees to Germany requires investment in housing, schools and minds
October 2015Financial literacy helps with business startups: easier, better funded, more competitive
September 2015Japan’s demographic millstone
August 2015An international comparison of R&D: Germany benefits from industrial research strength
August 2015Latest developments in China: tricky, but no reason to panic (just yet)
July 2015More hype than substance? Not all is rosy on the US job market
July 2015How female is the world of small business? Women as business leaders
July 2015Recruitment of skilled workers in SMEs: Optimism must not distract from qualification problems
July 2015Germany’s private equity market lacks venture capital
July 2015Energy cost drivers: It’s not just about electricity!
June 2015North African countries face common economic challenges
June 2015Oil: a price with many implications
April 2015Succession planning in SME sector in full swing: Half a million hand-overs by 2017
March 2015An end to energy subsidies in developing countries and emerging markets – if not now, then when?
March 2015SME borrowing: large loans in high demand
March 2015EnglishIs it really just the oil price? Some general observations on inflation in the euro area
March 2015Competition policy: a question of enforcement
March 2015Ageing of German SME owners is putting a dampener on investment
March 2015World trade with interesting but alarming trends
February 2015Where there’s a will, is there a way? Barriers to becoming self-employed
January 2015Entrepreneurial graduates rely on business ideas from professional practice
January 2015Take It Easy? A look at the consolidation of public finances in the US
January 2015Decline in working hours threatens to exacerbate the consequences of an ageing population
December 2014Japan has not (yet) failed
October 2014European housing markets: are overheating concerns justified?
October 2014Development of low-income countries paints a mixed picture
September 2014Arrived at normality – Germany 25 years after the fall of the Berlin Wall
September 2014Monetary policy coordination or not – is that issue here?
August 2014A fair look at France
July 2014Russia – limited international economic relations
June 2014Investments: SMEs still in the black, large companies long since in the red
June 2014Reforms in China: not only urgent in the country's own interests, but also beneficial to the rest of the world
May 2014Italy is different: Beyond labour market reforms
May 2014Portugal – a phoenix rising from the ashes?
May 2014Ukraine: IMF loan cannot prevent economic crisis
April 2014Energy from Russia and the alternatives
April 2014KfW SME Panel 2013: How German SMEs finance their innovations
March 2014The network of Germany's bank branches is dwindling
February 2014Where is China headed and what does this mean for Germany and the world?
February 2014Should we feel bad about debt?
February 2014The Problem of Balance of Payment Imbalances
January 2014Youth unemployment in Southern Europe – Result of the crisis or a flaw in the system?
January 2014KfW SME Panel 2013: Innovation Are German SMEs finally in the starting blocks?
January 2014How can car sharing help in the energy turnaround?
December 2013Energy costs and energy efficiency in the German SME sector
December 2013Germany's entrepreneurial culture: strengths and weaknesses
December 2013Creating the right incentives! – Modifying Germany’s EEG exemption scheme for manufacturing industry
November 2013Fiscal consolidation in Spain: the battle goes on
November 2013Ireland: Return with risks
November 2013Strong exports are good for Germany, excessive current account surpluses are not
November 2013Solving the demographic problem
October 2013Have the old still what it takes?Differences in the innovative output of young and old entrepreneurs
September 2013World of difference between Fed and ECB monetary policy
September 2013Debt in Low Income Countries: crisis eases, risks remain
September 2013Municipalities under construction: demographic change meets communal infrastructure
September 2013How companies recognise, exploit and overcome crises
September 2013Good advice helps – and it needn't be expensive
August 2013Tough climate for German SMEs: competition increases, the three 'I's promise success
July 2013Low debt entrepreneurs: in financing matters, women entrepreneurs play it safe
July 2013Emerging economies China and India: heavyweights facing big challenges
July 2013Diversity is crucial: how the SME sector in Germany compares with others in Europe
May 2013Sideline start-ups rarely transition to fulltime ventures
May 2013Routes out of recession: improving competitiveness in Germany, France and Italy
May 2013Investing for the future
May 2013Learning to succeed: how SMEs benefit from the international exchange of ideas
April 2013Fracking - you snooze, you lose?
March 2013You get what you pay for – The remuneration structure of VC funds and its consequences
February 2013The Asian Crisis of 1997: No patent remedies for solving the Eurozone debt crisis
February 2013Loans for SMEs – gap in Europe widens further
January 2013"Big Bertha" and its effectiveness
January 2013KfW programmes on energy-efficient housing substantially contribute to the German energy turnaround
January 2013The innovation motor is sputtering Innovation activities in the German SME sector
December 2012Fiscal Policy in Emerging Markets – Successes and Challenges
November 2012To be the Leader of the pack? Innovation strategies in the German SME sector
November 2012Ways out of the euro crisis: Growth needs financing
September 2012Barriers to innovation in SMEs