This paper discusses the importance of the theory of hegemonic stability in understanding the stability and instability in the international political economy. Because the subject is of obvious relevance to the role of the united states in the world, the debate over hegemonic stability theory is consequential for academics and policymakers alike. Hegemonic stability theory and the 20th century international economy rahul prabhakar, jan 8 2010, 12796 views. Hegemonic stability theory international political economy. 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. Hegemonic power relationships in the classical style are alive and well today. The bush doctrine as a hegemonic discourse strategy. Hegemonic stability theory hst is a theory of international relations. In applying this theory at a regional level of analysis, the study finds very little empirical evidence that it fits the african regional context.
A hegemonic state is one which is powerful enough to be capable of influencing the events throughout the world. 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. 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. Beyond krasners explanation of his theory s failings through the lagging of the dependent variable, several other issues appear to be prevalent throughout his work. Conversely, the absence of a hegemon is associated with disorder and undesirable outcomes. The limits of hegemonic stability theory created date. This paper takes a preliminary step toward formulating a theory of german leadership within european monetary politics.
This paper concludes that a hegemonic power is very important for international political economic stability. Doc the role of hegemonic stability theory in todays. In 1818 prussia had probably the lowest tariffs in europe. Hegemonic comes from the greek word hegemon, meaning leader. 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. Rooted in research from the fields of political science, economics, and history, 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.
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. Hegemonic stability theory argues that stability in the international capitalist economy can only occur when a dominant state, a hegemon, provides the necessary public goods, such as a common currency for settling international accounts. Hegemonic stability theory and the 20th century international. The hegemon has a selfinterest in the preservation of the system and is, therefore, prepared to underwrite the. A separate empirical question is whether there has been a significant decline in american hegemony. 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. 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. In particular, this theory of hegemonic stability has been applied to the international monetary system. 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 world power. The hegemonic stability theory is one that has often been offered as an explanation behind the successful cooperation that occurs within an international system. The basic proposition of the theory, that an open or liberal international economic order requires 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. Thus, the fall of an existing hegemon or the state of no hegemon diminishes the stability of the. Hegemonic stability theory is one of the most influential yet controversial ideas to emerge from the field of international relations. Hegemonic stability theory political science britannica. 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. By having one single and dominant actor, international politics is able to provide a desirable outcome for everyone that is involved within that international system. Although an argument about the role of a hegemon in the creation of public goods can be applied to a wide variety of issues in international politics, it has been made most often and most notably in the case of international monetary relations and international trade. Hegemonic stability theory hst is a theory of international relations, rooted in research from the fields of political science, economics, and history. An analysis of the constraints provides a prerequisite for understanding the particular role of germany within the bargaining process over the rules of european exchange rate cooperation. The hegemon has a selfinterest in the preservation of the system and is, therefore, prepared to.
Hegemonic stability theory political science global politics. Most writers restrict the term to a single dominant state, as a defining characteristic of hegemony. The hegemonic stability theory, as forwarded by robert gilpin, posits that a hegemon has two facets of power. This conventional approach to hegemony has been challenged from two sides in ir. Hegemonic stability theory hst is a theory of international relations, rooted in research from. Its purpose is to examine the constraints to monetary cooperation in europe.
The study concludes that the hegemonic power was very importance in creating stability in international political economy. It maintains that, although it is difficult to define accurately chinas future hegemonic role and general systemic behaviour, a third hegemonic way or dutch. Pdf hegemonic stability theory and nineteenthcentury tariff. Pdf hegemony stability theory veronica qu academia.
Does the hegemonic stability theory explain the rise of china. May 28, 2010 hegemonic stability theory is one of the most influential yet controversial ideas to emerge from the field of international relations. Balance of power refers to order built around competition and counterbalancing between two or more major states. Hst indicates that the international system is more likely to remain stable when a single nationstate is the dominant world power, or hegemon. 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. But when we examine these bearers of hegemonic masculinity, they seem scarcely up to the task, with more than just feet of clay. The theory of hegemonic stability is important in understanding the stability and instability in the international political economy. Hegemonic stability theory has been advanced as an explanation of successful cooperation in the international system. The basis of this hegemonic cooperation is the leadership of the hegemonic state. Benefits of hegemonic stability theory benefits of. The theory of hegemonic stability does not explain the failure of the interwar and the success of the post1945 international economic orders. Other articles where hegemonic stability theory is discussed.
Hegemonic stability theory is basically a realist prescription of how to achieve international stability in an anarchical international system. Does the hegemonic stability theory explain the rise of. Pdf hegemonic stability theory and nineteenthcentury. A football star is a model of hegemonic masculinity.
Hypothetical recovery with hegemonic leadership of international liberalism hegemonic help required to build up nerve but britain declined and people lost their nerve and called on govt. Hst or hegemonic stability theory is a theory that deals with international relations. Particular critical attention is paid to the arguments of leading proponents of this brand of game theory, including j. The theory of hegemonic stability relies on multiple perspectives such as liberal, historical and structural sobel, 2012. Jul 16, 2014 the theory of hegemonic stability relies on multiple perspectives such as liberal, historical and structural sobel, 2012. The state is considered as a rational and selfish actor in search of the greatest achievement of national interest. 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. Apr 18, 2019 this article analyses chinas strategic intentions and how these may ultimately project its violent or peaceful hegemonic rise. The key point in the theory of hegemonic stability is that there.
In the branch of realist analysis known as hegemonic stability theory, the presence of a hegemon say, britain in the 19th century and the united states after 1945 generates patterns of stability within the international system. Thus hegemonic stability theory provides a strong normative justification for maintaining that american decline is unfortunate from the perspective of all members of the international system. This paper is about the limited and decreasing role of hegemonic stability theory in todays global political economy. The neorealist hegemonic stability theory and its advocates supported that an open and liberal world economy requires the existence of a hegemonic or dominant power charles kindleberger, 1973, esp. When the handsome australian rules football player, warwick the tightest shorts in sports capper, combined football with modelling, does this. Hegemony theory incorporating hegemonic stability theory provides insight here, a path towards a marxistrealist synthesis. Classical marxist theory, of course, stresses economic position as the strongest predictor of social differences. Hegemonic stability theory been the focus of substantial scholarly attention in recent years. Hegemony and the global political economy oxford research. Through the use of the hegemonic stability theory as a theoretical lens, this paper argues that nigerias foreign policy shows few signs of a continental hegemonic disposition. To be a hegemon, a state must have three attributes. Hegemonic stability theory is a theory developed by many political scientists including george modelski, robert gilpin, robert keohane and stephen krasner. Hst is an attempt to 1 explain the historical specificity of the postwar liberal international economic order through a focus on the benign consequences of an uneven distribution of material power in the international system. Gilpin, war and change in world politics cambridge.
The hegemonic stability theory is first proposed by economist charles kindleberger after an examination into the history of the great depression. Kindleberger the theory of hegemonic stability generally argues that states can only cooperate economically with one another when a hegemonic power holds the ring, economically or militarily. The stability of the international system requires a single dominant state to articulate and enforce the rules of interaction among the most important. However, the perception of similarity or shared ideas of representative. May 19, 2015, subhasish, comments off on benefits of hegemonic stability theory.
I will test hegemonic stability theory by attempting to see whether it can explain the. Without a strong hegemonic power the stability in economic and politics is impossible. This article analyses chinas strategic intentions and how these may ultimately project its violent or peaceful hegemonic rise. As gilpin explains, according to the theory of hegemonic stability as set forth initially by charles kindleberger an open and liberal world economy requires the existence of a hegemonic or dominant power gilpin, 1987, p. Hegemonic stability theories of the international monetary. The limits of hegemonic stability theory international.
What robert keohane first called the theory of hegemonic stability, joins a. Mckeown and others published hegemonic stability theory and nineteenthcentury tariff levels in europe find, read and. Hegemonic stability theory and european monetary cooperation. Hegemonic stability theory political science global. Although hegemonic stability theory is one of the most useful tools to identify and analyze cooperation between states in the international systems, the theory has shortcomings. An exception, close to my usage of collective, is that of. The debate on american hegemony doc research institute. Hegemonic stability theory argues that a hegemon helps maintain both economic and political stability in the international order. Jan 08, 2010 the theory of hegemonic stability does not explain the failure of the interwar and the success of the post1945 international economic orders. In the carrot variant, the hegemon, like a dominant firm in an oligopolistic market, maintains the.
Hegemonic stability theories of the international monetary system. Hegemonic stability theory versus international regime theory nils hendrik hungerland essay politics international politics general and theories publish your bachelors or. Hegemony is dominance and subordination in the field of relations structured by power hall, 1985. When examined in their terms, the bush doctine is best understood as an ethically hypocritical and shortsighted international discursive strategy. A hegemon is a state that has the capacity and the will to lead and overpower other states in the international system. The changing nature of american power o, joseph nye negates the fact any.
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. Theory of hegemonic stability the catholic economist. Mearsheimer, the tragedy of great power politics new york. Us dominance or hegemony was the linchpin of the successful world capitalist economy after 1945. As gilpin explains, according to the theory of hegemonic stability as set forth initially by charles kindleberger an open and liberal world economy requires the existence of a hegemonic or dominant. Hegemonic stability theory contends that hegemonic structures of power, dominated by a single actor in this case, a country, are most favorable to developing strong international regimes that. The theory of hegemonic stability, hegemonic power and. Aug 15, 2018 hegemonic stability theory is basically a realist prescription of how to achieve international stability in an anarchical international system. As gilpin explains, according to the theory of hegemonic stability as set forth initially by charles kindelberger, an open and liberal world economy requires the existence of a hegemonic or dominant.