In the publication the problems of stable development of the economy in times of war and armed conflict has been considered. From the point of view of the author, in the course of economic globalization also local wars (especially in a geopolitically strategic region) can lead to serious panic on the currency and stock markets. Influence of local wars on the economic situation in the country (inflation, reduced inventory, reduced international investment, the growth of unemployment, the collapse of infrastructure, etc.) is examined on the example of Russian-Georgian war of 2008.