TY - JOUR N2 - 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. L1 - http://journals.pan.pl/Content/106519/PDF-MASTER/mainFile.pdf L2 - http://journals.pan.pl/Content/106519 PY - 2017 IS - No 2 EP - 113 DO - 10.24425/cejeme.2017.122203 KW - financial innovations KW - Arrow-Debreu model KW - Schumpeterian approach A1 - Ciałowicz, Beata A1 - Malawski, Andrzej PB - Oddział PAN w Łodzi DA - 30.06.2017 T1 - Innovativeness of Banks as a Driver of Social Welfare SP - 97 UR - http://journals.pan.pl/dlibra/publication/edition/106519 T2 - Central European Journal of Economic Modelling and Econometrics ER -