Previous Projects


Our previous work on Andorra includes two comparative macroeconomic analyses of the Principality and other microstates, covering the periods 1970-2019 and 2019-2023.


The Principality of Andorra:
A Comparative
Macroeconomic Analysis 
(1970-2019)




This study provides a comparative macroeconomic analysis of Andorra, examining its long-term economic performance relative to other small European states in order to assess why its GDP per capita has evolved much more slowly over recent decades. Drawing on historical data and cross-country comparisons, it identifies the main structural constraints on Andorra’s growth and offers a basis for future research and policy discussion.

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The Principality of Andorra:
A Comparative
Macroeconomic Analysis 
(2020-2023)




This study updates our previous comparative macroeconomic analysis of Andorra by examining the evolution of the Andorran economy between 2019 and 2023. It assesses Andorra’s performance through the COVID period and subsequent recovery, highlighting developments in output, population, employment, public finances, and the external sector.

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