Investment into forest industry: prospects of institutionalization of new forms and methods

Oleksandr Dzyubenko
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Oleksandr Dzyubenko: Cherkasy regional department of forestry and hunting sectors

Ukrainian Journal Ekonomist, 2016, issue 6, 21-23

Abstract: In the article the contradictions between the liberal doctrine of institutional transformations within the national economy and main trends of institutional transformations in the forestry field have been revealed, that is to become basic methodological precondition for institutionalization of forms, methods and means of forestry and forest protection activities in the short term. It has been proven that under the conditions of the lack of formation of institutional environment for the development of forestry, it is necessary to avoid transformations of ownership forms on forest and forestry assets due to high probability of intensification of social tension as a result of dislocation of balance of interests between the state, local population and constant forest users. The institutionalization of new forms and methods of investment provision of forestry projects is to become an overriding direction of facilitating institutional transformations in forestry which will allow to overcome permanent deficiency of financing capital loans due to restriction of channels of attracting investments into an expanded reproduction of forest and resource potential and modernization of forest infrastructure facilities. The institutional transformations as to the diversification of forms and methods of investment are suggested to be implemented in two stages: 1) amend national legislation in order to expand the forms of cooperation between state and private businesses; 2) promote activities of state forestry enterprises as to attraction into the national forest complex of investments of foreign governments, international funding and financing organizations and private business sector.

Date: 2016
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