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The Economic Consequences of a Declining Hegemon


  • Hamada, K


This paper is an attempt to review the concepts of "international public goods" and "hegemony" from the stand point of an economist. It focuses on the incentive structure that a large country or hegemon as well as other countries face in order to make a collective decision. It is misleading, I will argue, to treat many different situations in a single framework of "public goods" or "hegemony". The benefit-cost structure for nations in the trade liberalization process or trade conflicts is different from that in the international monetary cooperation or in the choice of the international monetary regime.

Suggested Citation

  • Hamada, K, 1996. "The Economic Consequences of a Declining Hegemon," Papers 756, Yale - Economic Growth Center.
  • Handle: RePEc:fth:yalegr:756

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    References listed on IDEAS

    1. Jiandong Ju & Kala Krishna, "undated". "Market Access and Welfare Effects of Free Trade Areas without Rules of Origin," EPRU Working Paper Series 96-03, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
    2. Winters, L Alan, 1997. "Regionalism and the Rest of the World: The Irrelevance of the Kemp-Wan Theorem," Oxford Economic Papers, Oxford University Press, vol. 49(2), pages 228-234, April.
    3. Kemp, Murray C. & Wan, Henry Jr., 1976. "An elementary proposition concerning the formation of customs unions," Journal of International Economics, Elsevier, vol. 6(1), pages 95-97, February.
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    JEL classification:

    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • D79 - Microeconomics - - Analysis of Collective Decision-Making - - - Other
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations


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