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

Beata Cialowicz ()

Economic Modelling, 2014, vol. 38, issue C, 1-5

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.

Keywords: Arrow–Debreu model; Equifinality; Innovative development; Dynamical systems (search for similar items in EconPapers)
JEL-codes: C02 O10 O31 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:38:y:2014:i:c:p:1-5

DOI: 10.1016/j.econmod.2013.11.026

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