The Economic Research Institute was founded as an independent unit on July 1, 1976.
From the date of its foundation, the Institute has been aimed at organizing economic science in the Russian Far East, system studying of the socio-economic processes occurring in this region which is important not only for Russia, but also for entire Northeast Asia. The Institute concentrates in its laboratories leading specialists of different economic sectors. The Institute's general specialization is research into problems and prospects of economic and social development of the Far-Eastern economic region, problems of economic cooperation with foreign countries in the Pacific. When founded, the Institute's tasks have also been organization and coordination of economic research in the Russian Far East and training of highly qualified personnel, which is accomplished through postgraduate and doctorate studies at the Institute.
During the Soviet time the Institute has repeatedly been awarded diplomas, silver and gold medals of the USSR Exhibition of Economic Achievements. In 1997, the Institute was awarded the honorable Niigata prize for its cooperation in Northeast Asia.
Organizer and Director of the Institute in 1971-1975 was P.G. Bunich, corresponding member of RAS. At different stages of its development, the Institute was headed by well-known researchers-economists: Prof. G.L Tarasov, doctor of economics (1976-1978), Prof. V.P. Chichkanov, corresponding member of RAS (1979-1986), Prof. P.Ya. Baklanov, academician of RAS (1987-1991). Since 1991, the Institute has been under continuous leadership of Prof. P.A. Minakir, academician of RAS.
The structure of the Institute today includes 3 research departments and a department of educational-research projects. The staff of the Institute numbers 90 people, including 36 scientific workers (1 academician of RAS, 9 doctors of sciences, 18 candidates of sciences).
Main areas of the Institute's research activities include:
- substantiation of scientific principles of the concept of socio-economic development strategy of the Russian Federation's eastern areas;
- forecasting Russia's socio-economic development in the territorial aspect;
- transformation of Russia's socio-economic space; analysis of the socio-economic policy in eastern areas of the Russian Federation; substantiation of sustainable development of the Far-Eastern and Trans-Baikal subjects of the Russian Federation;
-studying the problems of international economic cooperation between the Russian Federation and Far-Eastern Federal District, on the one hand, and countries of the Asia-Pacific region and Northeast Asia.