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The phenomenon of equifinality in innovative development of the monetary private ownership economy —An axiomatic set-up

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  • Ciałowicz, Beata

Abstract

The phenomenon of the equifinality can be understood as a possibility to achieve a given final state in many potential ways, regardless of the initial state. The study of this phenomenon is particularly relevant in today's world, where one of the main problems is the transformation of post-communist countries' economies so that they reach the states close to the economic systems of developed countries. This transformation takes place in the process of economic development stimulated by innovation, with the active role of the banking sphere.

Suggested Citation

  • Ciałowicz, Beata, 2014. "The phenomenon of equifinality in innovative development of the monetary private ownership economy —An axiomatic set-up," Economic Modelling, Elsevier, vol. 38(C), pages 1-5.
    • Handle: RePEc:eee:ecmode:v:38:y:2014:i:c:p:1-5
    DOI: 10.1016/j.econmod.2013.11.026
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    References listed on IDEAS

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    1. Amable, Bruno & Chatelain, Jean-Bernard & Ralf, Kirsten, 2004. "Credit rationing, profit accumulation and economic growth," Economics Letters, Elsevier, vol. 85(3), pages 301-307, December.
    2. 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, September.
    3. Fiaschi, Alessandro, 2008. "A note about credit rationing on research and development," MPRA Paper 12300, University Library of Munich, Germany, revised 10 Dec 2008.
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    More about this item

    Keywords

    Arrow–Debreu model; Equifinality; Innovative development; Dynamical systems;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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