Abstract
The intrinsic power and capabilities of a small state is seen in the small state literature as being too little to influence power balances and great power revisionism. Instead, the small state literature observes small states compensating for their size by manipulating friendly great powers, and by shaping norms. The thesis argues for questioning this assumption of small states impotence, bringing together existing small state literature findings into a neoclassical realist theory for small states mediating structural threats. This theory is further developed by an explorative, structured, focused comparison of Finnish and Romanian foreign policy and grand strategic adjustment to threats during the interwar years. This finds that, first, small states as most impactful when shaping the revisionist attitude of a potential adversaries. Second, it finds Finland and Romania as willing to forego alliances with friendly great powers, not due to an identity or ideol-ogy of neutrality, but a critical and intentional pursuit of shaping the structure around them. The findings have implications for small state literature beyond just realist theories, given the literature’s emphasis on small state vulnerability.