Schwache Unternehmensinvestitionen in Deutschland? Diagnose und Therapie

Abstract Corporate investment has developed only moderately in Germany since the global financial market crisis. The capital stock made up of machinery and equipment has been in a stalemate since 2008. However, the notion of a quantifiable investment gap is not tenable. A recent survey of German companies provides important information about current obstacles to investment in Germany. On the one hand, the respondent companies suffer from increasing global uncertainties. On the other hand, the conditions for investment in Germany have deteriorated. Examples are the high-energy costs in international comparison and new labor market regulations like early retirement schemes and legal minimum wages. Instead of engaging in expensive investment programs, the German government should better tackle the homemade barriers to investment.