The South Caucasian economies suffer from the same basic problems as all the other post-Communist countries with the global financial crisis having created some general threats for all of the post-Communist countries of the world. Unlike developed economies, which are exposed to the threat of the zombie-ing of the economy under the conditions of a financial crisis, this threat is even greater for the post-Communist countries owing also to their exposure to the necroeconomy. Under the financial crisis, in all South Caucasian economies there is a paradoxical situation: Armenia has a “Paradox of a Diaspora,” Azerbaijan, a “Paradox of a Closed Economy,” and Georgia, a “Paradox of War.”
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