As a continuation of this research, directed specifically at the situation in Liechtenstein, Andreas Brunhart is currently focusing his attention on Liechtenstein in the international context, drawing also on evidence from other European small states. His analysis will consider economic, institutional and political differences and characteristics. In this context, the effects of the finance and debt crisis are of special relevance: economic effects (GDP, foreign trade, unemployment levels etc.), the consequences for public finances, vulnerability to external shocks (small domestic economy, extensive diversification of risk, segmentation into different sectors), problems relating specifically to small size, state intervention, economic-political stimuli, reform processes, structural economic adjustments. In addition to the commonalities and differences between the small states, Brunhart’s research will also look at specific differences between small and large countries - not only in relation to the above-mentioned aspects, but also in relation to questions about the business cycle pattern and economic growth.