MODERNIZATION OF THE RENTAL-REGULATION-MODEL OF DEVELOPMENT OF THE FOREST SECTOR ECONOMY: FROM INSTITUTIONS TO INNOVATION

UDC 630*61(476)

  • Kashtelyan Taisiya Vasil’yevna – PhD (Economics), Associate Professor, Assistant Professor, the Department of Production Organization and Real Estate Economics. Belarusian State Technological University (13a, Sverdlova str., 220006, Minsk, Republic of Belarus). E-mail: taisiya_kascht@mail.ru

DOI: https://doi.org/10.52065/2520-6877-2023-268-1-7

Keywords: forest sector, institutional transformations, shared consumption model, strategic management, strategic management, rent, ESG-strategies, finance, innovation.

For citation: Kashtelyan T. V. Modernization of the rental-regulation-model of development of the forest sector economy: from institutions to innovation. Proceedings of BSTU, issue 5, Economics and Management, 2023, no. 1 (268), pp. 57–62. DOI: https://doi.org/10.52065/2520-6877-2023-268-1-7.

Abstract

The result of the research is the identification of the rental-regulation-model of development of the forest sector in the context of the categories of the institutional theory of E. Ostrom. Research methods – economic analysis and interpretation.

The characteristics of forest monitoring carried out by RUE “Belgosles” in Belarus were determined. Two directions of solving the problems of the existing rental profile of forest relations are identified, the first of which concerns the rent of monitoring, the second – the rent of the Natural “Bank”. There is a need to regroup the rental space of the forest resource economy and the forest management system, taking into account the signs of monitoring (we mean monitoring for ESG strategies and practices, environmental management), in which the aspect of financing should clearly appear.

The result of the research is the formulation of tasks for the formation of the cost of funds for institutional structures in the context of the allocation of monitoring rent. This stems from the costs incurred by organizations (such as “Belgosles”, in particular) that actually implement ESG strategies and practices in Belarus. The formulations of the expected results of interactions between public-private partnership for innovative development are associated with the establishment of long-term financial relations both at the level of Ministries of Nature and Environmental Protection, Forestry and all others departments and others users and consumers, in general, the population of Belarus.

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