The relationship between economics and international regulatory affairs in transition economies and neutrosophic sets: A Review

Adham Khudaykulov^1,2,3

¹Associate Professor, Tashkent State University of Economics, Uzbekistan

²Research Affiliate, Cambridge Central Asia Forum, University of Cambridge, UK

³Adjunct Professor of Akfa University, Uabekistan

Email: a.khudaykulov@tsue.uz

Abstract

International regulation is a vital function for countries in transition in terms of guidance to economic prosperity. Transition economies are defined as countries which experience the move to a market economy from a centrally planned economy. This paper discusses the governance and institutional settings of transition economies as well as the economic performance and corruption in these countries. Furthermore, it analyses the challenges in international regulation of countries in transition and proposes application of neutrosophic theory in investigating the abovementioned spheres due to the capacity of this theory in dealing with uncertainties.

Keywords: international regulation; governance; neutrosophic logic; uncertainty; corruption; transition economies