The legends of the Caucasus: Economic transformation of Armenia and Georgia

摘要: Abstract Considered peripheral in economic terms the structurally fragile Armenia and Georgia with obvious limitations are open to international business. This article constructs a compact analytical synthesis of duo's potential across macroeconomic, industrial, external exposure risk, institutional, Diaspora (dispersion) effects within five forces model social transformation. Post-Great Recession dynamic analysis, sketching sectoral business trends, tackles issues market entry foreign investor strategy. Armenia's impressive pre-crisis pattern has yet be recovered, while Georgia's post-crisis record been more consistent earlier years. entrepreneurial innovative capacity, vital new accommodation, ranks above Georgia's, where traditional sectors dominant. All all there is need for an individual, not “bulk”, analysis post-socialist periphery. Foreign firms’ managers suited gain if acquire local context (or Diaspora-) based partner (public or private) prior regional standalone entry. Despite multiple headwinds, both economies retain strong hope resurrection.