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- Title
Innovativeness of Banks as a Driver of Social Welfare.
- Authors
Ciałowicz, Beata; Malawski, Andrzej
- Abstract
The general aim of the paper is to indicate the key role played by banks in Schumpeterian innovative evolution. It includes formal modelling of innovative evolution of financial subsystem of an economy which goes beyond routine behavior of banks deprived of innovative, financial strategies. Moreover this paper studies an impact of innovations in financial sphere of modified Debreu monetary economy on its real sector and, specifically, on social welfare. Thus the paper main aims are to prove that pro-innovative banks may intensify innovative evolution and to specify the sufficient conditions to guarantee the preservation of the rules of circular flow for a consumption sector within the innovative changes in banks behavior.
- Subjects
BANKING industry -- Social aspects; FINANCIAL institutions; BUSINESS development companies; GOVERNMENT financial institutions; BANK assets
- Publication
Central European Journal of Economic Modelling & Econometrics, 2017, Vol 9, Issue 2, p97
- ISSN
2080-0886
- Publication type
Article