Abstract
This article aims for understanding new legislative parties in Liechtenstein. The parliament based on two parties tends to fractionalize recently, while the European small state seems not necessary to form a multiparty system. Furthermore, conflicts between old and new parties can be institutionally less expected than other European countries because of the constitutional monarchy headed by the Prince of Liechtenstein who has an influential role as a ‘veto player’. It can call attention to the fact that Liechtenstein moves from the two-party system that has been continued throughout its postwar period. This article investigates the change from a perspective of party realignment via Qualitative Comparative Analysis (QCA). The main findings are summarized as follows: The party system change can be explained through a conjunctional condition characterized by new social issues and changing the electoral threshold. This analysis also suggests that reshaping government and economic condition would have a combinational effect.