Multiple global changes are impacting Russia today. Economic transformations in Russia have prompted the establishment of new business relations, which are based on innovations in the economic, institutional and ecological spheres, including within the Forest industry. This paper focuses on the Forest sector in Irkutsk province and beyond, examining the basic problems related to the institutional innovations in the Forest industry of the province, and the major factors and conditions influencing the dynamics of institutional innovations. A brief historical background and analysis of institutional structures are also presented.
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