FOREST RENT AND ECONOMIC RELATIONS IN THE INSTITUTIONAL CONTEXT

UDC 630*15 : 332.4

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/ 10.52065/2520-6877-2024-280-12.

 

Key words: forest sector, institutional transformations, digital business model, strategic management, rental relations, hedonistic pricing, strategic analysis, stakeholder approach, new forms of distribution.

For citation: Kashtelyan T. V. Forest rent and economic relations in the institutional context. Proceedings of BSTU, issue 5, Economics and Management, 2024, no. 1 (280), pp. 98–104 (In Russian).

DOI: 10.52065/2520-6877-2024-280-12.

Abstract

The article reveals a system of institutional transformations aimed at modernizing forestry and the forest industry, effective regulation and rent management to ensure sustainable development in order to increase innovation sensitivity, initiate new ideas and developments. Attention is focused on strengthening property rights and a rational combination of mechanisms for regulating local activities, which is proved by world practice reflecting trends in forest relations in the direction of increasing responsibility and rent regulation of forest production processes. In relation to forest economic policy, the horizons of transformations capable of ensuring reproductive processes through institutional, industrial, innovative and other factors of socio-economic development are described. The objective to identify the problem of generating innovations in the forest economic policy of Belarus, which can be adjusted through an institutional approach to the economy, taking into account the regulatory environment of rental relations. The research methods are economic analysis and interpretation, in particular, consisting in understanding the features of the functioning of economic facilities and processes. In this regard, a mechanism has been developed to increase the economic efficiency of forest bioeconomics through the prism of a hybrid model of shared consumption and the implementation of a policy of excellence in environmental values. The result of the research is the identification of eight areas of economic policy. The article presents the priorities of the rental policy, which are contacting in the form of a corporate “exit” of the proposed boards of directors and boards of shareholders into the system of excessive accumulation of financial resources and capital allocation in line with innovation and investment development. The globalizing world requires positioning the protection of property rights, which is possible through financial instruments to maintain environmental law and order, as well as the involvement of structures in the social space and the organization of innovatively active ecological and economic behavior of forest sector entities adequate to the requirements of the modern digital space.

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15.02.2024