IDEAS home Printed from https://ideas.repec.org/a/psc/journl/v9y2017i2p97-113.html
   My bibliography  Save this article

Innovativeness of Banks as a Driver of Social Welfare

Author

Listed:
  • Beata Ciałowicz

    (Cracow University of Economics)

  • Andrzej Malawski

    (Cracow University of Economics)

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.

Suggested Citation

  • Beata Ciałowicz & Andrzej Malawski, 2017. "Innovativeness of Banks as a Driver of Social Welfare," Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 9(2), pages 97-113, June.
    • Handle: RePEc:psc:journl:v:9:y:2017:i:2:p:97-113
    as

    Download full text from publisher

    File URL: http://cejeme.org/publishedarticles/2017-12-01-636319303595625000-7082.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Andreas Pyka & Maria da Graça Derengowski Fonseca (ed.), 2011. "Catching Up, Spillovers and Innovation Networks in a Schumpeterian Perspective," Springer Books, Springer, number 978-3-642-15886-5, June.
    2. Alessandro Caiani & Antoine Godin & Stefano Lucarelli, 2015. "Innovation and Finance: A Stock Flow Consistent Analysis of Great Surges of Development," Economic Complexity and Evolution, in: Andreas Pyka & John Foster (ed.), The Evolution of Economic and Innovation Systems, edition 127, pages 401-430, Springer.
    3. Horst Hanusch & Andreas Pyka, 2007. "Principles of Neo-Schumpeterian Economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(2), pages 275-289, March.
    4. Agnieszka Lipieta & Andrzej Malawski, 2016. "Price versus quality competition: in search for Schumpeterian evolution mechanisms," Journal of Evolutionary Economics, Springer, vol. 26(5), pages 1137-1171, December.
    5. David Kitchel, 2016. "A real and monetary analysis of capitalism," Journal of Evolutionary Economics, Springer, vol. 26(2), pages 443-464, May.
    6. Malerba, Franco & Orsenigo, Luigi, 1995. "Schumpeterian Patterns of Innovation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 19(1), pages 47-65, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Agnieszka Lipieta & Ilona Ćwięczek, 2022. "Mechanisms leading to equilibrium in economy with financial market," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 4166-4182, October.
    2. Leticia Inácio & Ivete Delai, 2022. "Sustainable banking: a systematic review of concepts and measurements," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(1), pages 1-39, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Callegari, Beniamino & Nybakk, Erlend, 2022. "Schumpeterian theory and research on forestry innovation and entrepreneurship: The state of the art, issues and an agenda," Forest Policy and Economics, Elsevier, vol. 138(C).
    2. Agnieszka Lipieta & Andrzej Malawski, 2021. "Eco-mechanisms within economic evolution: Schumpeterian approach," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 10(1), pages 1-31, December.
    3. Heijs, Joost, 2003. "Freerider behaviour and the public finance of R&D activities in enterprises: the case of the Spanish low interest credits for R&D," Research Policy, Elsevier, vol. 32(3), pages 445-461, March.
    4. Roberts, Rhonda, 1998. "Managing innovation: The pursuit of competitive advantage and the design of innovation intense environments," Research Policy, Elsevier, vol. 27(2), pages 159-175, June.
    5. Davide Consoli & Pier Paolo Patrucco, 2011. "Complexity and the Coordination of Technological Knowledge: The Case of Innovation Platforms," Chapters, in: Handbook on the Economic Complexity of Technological Change, chapter 8 Edward Elgar Publishing.
    6. Singh, Anuraag & Triulzi, Giorgio & Magee, Christopher L., 2021. "Technological improvement rate predictions for all technologies: Use of patent data and an extended domain description," Research Policy, Elsevier, vol. 50(9).
    7. D’Orazio, Paola & Valente, Marco, 2019. "The role of finance in environmental innovation diffusion: An evolutionary modeling approach," Journal of Economic Behavior & Organization, Elsevier, vol. 162(C), pages 417-439.
    8. Vanessa Oltra & Maïder Saint Jean, 2007. "Incrementalism of environmental innovations versus paradigmatic change: a comparative study of the automotive and chemical industries," Post-Print hal-00155039, HAL.
    9. Jun, Bogang & Kim, Tai-Yoo, 2015. "A neo-Schumpeterian perspective on the analytical macroeconomic framework: The expanded reproduction system," Hohenheim Discussion Papers in Business, Economics and Social Sciences 11-2015, University of Hohenheim, Faculty of Business, Economics and Social Sciences.
    10. Souzanchi Kashani, Ebrahim & Roshani, Saeed, 2019. "Evolution of innovation system literature: Intellectual bases and emerging trends," Technological Forecasting and Social Change, Elsevier, vol. 146(C), pages 68-80.
    11. Kudic, Muhamed & Pyka, Andreas & Günther, Jutta, 2012. "Determinants of Evolutionary Change Processes in Innovation Networks – Empirical Evidence from the German Laser Industry," IWH Discussion Papers 7/2012, Halle Institute for Economic Research (IWH).
    12. Andreas Pyka & Esben Andersen, 2012. "Introduction: long term economic development – demand, finance, organization, policy and innovation in a Schumpeterian perspective," Journal of Evolutionary Economics, Springer, vol. 22(4), pages 621-625, September.
    13. Sturgeon, Timothy J., 1997. "Does Manufacturing Still Matter? The Organizational Delinking of Production from Innovation," UCAIS Berkeley Roundtable on the International Economy, Working Paper Series qt2g22d9d2, UCAIS Berkeley Roundtable on the International Economy, UC Berkeley.
    14. Cristiano, Antonelli & Scellato, Giuseppe, 2007. "Complexity and Innovation: Social Interactions and Firm Level Total Factor Productivity," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200709, University of Turin.
    15. Tommaso Ciarli & André Lorentz & Marco Valente & Maria Savona, 2019. "Structural changes and growth regimes," Journal of Evolutionary Economics, Springer, vol. 29(1), pages 119-176, March.
    16. Lee, Jeongwon & Hwang, Junseok & Kim, Hana, 2022. "Different government support effects on emerging and mature ICT sectors," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    17. Başak Dalgıç & Burcu Fazlıoğlu, 2021. "Innovation and firm growth: Turkish manufacturing and services SMEs," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 11(3), pages 395-419, September.
    18. Archibugi, Daniele & Filippetti, Andrea & Frenz, Marion, 2013. "Economic crisis and innovation: Is destruction prevailing over accumulation?," Research Policy, Elsevier, vol. 42(2), pages 303-314.
    19. Klapkiv Lyubov & Ulgen Faruk, 2022. "An Evolutionary Perspective on the Endogenous Instability of Capitalist Dynamics," Central European Economic Journal, Sciendo, vol. 9(56), pages 291-308, January.
    20. Antoine GODIN & Emanuele CAMPIGLIO & Eric KEMP-BENEDICT, 2017. "Networks of stranded assets: A case for a balance sheet approach," Working Paper d51a41b5-00ba-40b4-abe6-5, Agence française de développement.

    More about this item

    Keywords

    financial innovations; Arrow-Debreu model; Schumpeterian approach;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:psc:journl:v:9:y:2017:i:2:p:97-113. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Damian Jelito (email available below). General contact details of provider: http://cejeme.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.