Viewing the postwar period of american leadership as beneficial to western interests more generally. The limits of hegemonic stability theory duncan snidal the theory of hegemonic stability is widely discussed as an explanation for the successful operation of the international system in certain circumstances and the failure of international cooperation in other circumstances. The theory of hegemonic stability and embedded liberalism. The hegemonic stability theory and the concept of nonpolarity the perceived decline in power of the united states as the reigning economic and military superpower has attracted great concern from scholars, who are interested in predicting the changes in the international power structure that the waning of u. Hegemonic stability theory research papers academia. Rethinking the hegemony stability theory interpretation. Hegemonic stability theory is a theory that attempts to explain changes in the degree to which the international political economy is open or restricted on the basis of the power relations between the major states in the world system. Krasner hegemonic stability theory, which argues that international economic openness and stability is most likely when there is a single dominant state, is the most prominent approach among american political scientists for explaining patterns of economic. Proponents of hegemonic stability theory implicitly introduce it as part of a more general lament or nostalgia for a perceived decline of american hegemony in recent years. Hst indicates that the international system is more likely to remain stable when a single nationstate is the dominant world power, or hegemon. Proponents point to the period after wwi, at which point america returned to isolationism, and the return to great power war in wwii as an example of what happens when there is no hegemon to lead the system. Hegemonic stability theory had its genesis to the great depression that hit united states in 1929.
According to this theory, the early postsecond world war period was one in which the united states was committed to the construction of liberal international economic norms. Snidal 1985 the limits of hegemonic stability theory. Hegemonic stability theory is a theory of international relations, rooted in research from the fields of political science, economics, and history. Kindlebergers later career is the value of a single country acting as stabilizer of an international economy prone to instability. The limits of hegemonic stability theory international. Hegemonic stability theories of the international monetary. Through a quantitative analysis looking at both american and british hegemonic governance, it was discovered that in both cases there is a strong negative association between. Hegemonic order and regional stability in subsaharan.
Julie george isa international conference 2017 hong kong june. The basic proposition of the theory, that an open or liberal international economic order requires the existence of a hegemonic or dominant power, retains wide support in the field and beyond. Snidals the limits of hegemonic stability theory maintains that the collective action problem. The state is considered as a rational and selfish actor in search of the greatest achievement of national interest. Conversely, the absence of a hegemon is associated with disorder and undesirable outcomes.
In the causal relationship set by the hegemonic stability theory, the international institutions and then the orderly stability are results of the public goods provided by the hegemon, through which the contribution of the hegemonic power far outstrips the other member states, quoting the words of olson 1965, this is exactly the situation. Hegemony is dominance and subordination in the field of relations structured by power hall, 1985. This paper takes a preliminary step toward formulating a theory of german leadership within european monetary politics. Hegemonic order and regional stability in subsaharan africa.
Domestic influences upon international monetary cooperation in major states were a crucial determining factor in the global economic stability or lack thereof in the interwar and postwwii periods. Firstly, by neoliberalism, as a critique of hegemonic stability theory hst. According to this theory hegemonic stability indicates that the relationship in our international systems is likely to remain more stable when hegemon or a single nation dominates the. The theory of hegemonic stability ths is a significant theory in understanding the roles played by the hegemonic power and the relations with the economic development and political stability in the international structure. Originally a theory of international political economy, hst argues that a liberal economic order and stability occur when there is a single dominant power that is, a hegemon. Thus, the fall of an existing hegemon or the state of no hegemon diminishes the stability of the. United states hegemony and the structural power of finance. Hegemonic stability theory political science britannica. Hst posits a positive relationship between the economic dominance of a country or, in some variations, a small group of countries and economic openness.
This definition is more specific and subject to examination than that of keohane, although again no specific limits are set as to just what conditions must be met in. According to hegemonic theory high level of openness and stability of international system can be maintained when there is a single hegemonic country that meets the following requirements. As we discussed in the lectures, the world entered pax britannica a state of relative international peace regarded as overseen by the united kingdom in around 1815, and was peaceful up. Hegemonic stability theory been the focus of substantial scholarly attention in recent years. The limits of hegemonic stability theory econpapers. The former assumption limits the theorys range of application while the likely failure of the latter means that the theory may be wrong even within this more limited range. Given this commitment and its new found position at the apex. This conventional approach to hegemony has been challenged from two sides in ir. In ancient greece 8th century bc 6th century ad, hegemony denoted the politicomilitary dominance of a citystate over other citystates. Simple formal models demonstrate a conclusion completely at odds with hegemonic stability theory. David lake in fact argues that the theory of hegemonic stability is not a single theory, but a research programme composed of two, analytically distinct theories. The dominant actor is able to provide a greater level of stability within the international system with their presence.
The maintenance of the bretton woods system for a quarter century through 1971 is ascribed to the singular power of the united states in the postwar world, while the persistence of the classical gold standard is similarly ascribed to. The theory of hegemonic stability the theory of hegemonic stability probably remains the most popular and influential theory in the subject of international political economy today. The key point in the theory of hegemonic stability is that there. Hegemonic stability theory argues that a hegemon helps maintain both economic and political stability in the international order. Three problems bedevil attempts to apply hegemonic stability theory to international monetary affairs. Benefits of hegemonic stability theory benefits of. This paper examines hegemonic stability theory, the concept in international relations that an assertive hegemon can act as a stabilizing force in the international system.
Its purpose is to examine the constraints to monetary cooperation in europe. Hegemonic power is required for cooperation to create a system of embedded liberalism hegemonic states have the resources to. The theory of hegemonic stability and embedded liberalism the case of the bretton woods system. Existing formulations also fail to draw from the theory any implications concerning the process by which a hegemonic state creates and maintains a regime. West european economic relations from 1945 to 1973. Drought coupled with the coronavirus pandemic spells danger for food security.
When a hegemon exercises leadership, either through diplomacy, coercion, or persuasion, i. Thus, the fall of an existing hegemon or the state of no hegemon diminishes the stability of the international system. The hegemonic stability theory and the concept of non. Second, the cold war era provides an excellent period to test hegemonic stability theory. To be a hegemon, a state must have three attributes. A comparative study of nigeria and south africa by ogunnubi rasheed olusola 211549688 submitted in fulfilment of the academic requirements for the degree of doctor of philosophy political science in the graduate programme in the college of humanities, school of social sciences. Because of these limits, the hegemonic stability theory can only be an empirical truth if the following factors are present.
Though both the appeal and limitations of hegemonic stability theories are apparent when one takes a static view of the international monetary system, those. Living marginal lives even before the pandemic, many in this warruined land have no choice but to defy the lockdown. Although the theory of hegemonic stability has attracted an impressive array of adherents, current formulations leave many conceptual issues unresolved. Hegemonic stability theory states the rules that are required in the maintenance of international. What robert keohane first called the theory of hegemonic stability, joins a. Other articles where hegemonic stability theory is discussed. The theory of hegemonic stability relies on multiple perspectives such as liberal, historical and structural sobel, 2012. According to the theory of hegemonic stability, the role played by a hegemonic power is very importance in creating stability in international politics and economy.
The hegemon has a selfinterest in the preservation of the system and is, therefore, prepared to. View notes snidal 1985 the limits of hegemonic stability theory from pols 5308 at texas tech university. Classical marxist theory, of course, stresses economic position as the strongest predictor of social differences. May 19, 2015, subhasish, comments off on benefits of hegemonic stability theory.
This chapter asks what light the theory of hegemonic stability can throw upon us. These authors explain the change of some sectoral arrangements. Hegemonic stability theory hst is a theory of international relations, rooted in research from. Hegemonic stability theory essay example graduateway. In particular, this theory of hegemonic stability has been applied to the international monetary system. View hegemonic stability theory research papers on academia. The stability of the international system requires a single dominant state to articulate and enforce the rules of interaction among the most important members of the system to be a hegemon, a state must have three attributes. The realist variant of hegemonic stability theory does make an attempt to marry the dual. Hst or hegemonic stability theory is a theory that deals with international relations. The theory of hegemonic stability is important in understanding the stability and instability in the international political economy. To do this, we have to begin by explicating the evolution of hegemony and power relations within the historical context beginning from theoretical origins.
Charles kindleberger is considered to be the inventor of this theory. Hegemonic stability theory hst is a theory of international relations, rooted in research from the fields of political science, economics, and history. Hegemonic stability theory first appeared in the early 1970s. The stability of the international system requires a single dominant state to articulate and enforce the rules of interaction among the most important members of the system. The hegemonic stability theory is first proposed by economist charles kindleberger after an examination into the history of the great depression. Hegemonic stability theory hst is a hybrid theory that draws on the realist, liberal and historical structuralist perspectives. The theory of hegemonic stability does not explain the failure of the interwar and the success of the post1945 international economic orders. Hegemonic stability theory, which argues that international economic openness and stability is most likely when there is a single dominant state, is the most prominent approach among american political scientists for explaining patterns of economic relations among the advanced capitalist countries since 1945. Hegemonic stability theory has been advanced as an explanation of successful cooperation in the international system. First is the ambiguity surrounding three concepts central to the theory, namely hegemony, the power the hegemon is assumed to possess, and the regime whose stability is ostensibly enhanced by the exercise of hegemonic power. They argue that the presence of this hegemon would eventually make the world a more peaceful place.
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