Does Hegemony Matter? The Reorganization of the Pacific Political Economy

Abstract

The timing and nature of an emerging Pacific economic regime are examined within a framework that extends existing understandings of regime formation. One analytic level is provided by the dynamic nature of states' strategic incentives, as they change from a pattern characterized by extreme hegemony toward one exhibiting features of a more balanced power distribution. Cultural underpinnings of regime values is another. Together, these explain features of Pacific regime formation that otherwise appear anomalous: its delayed emergence, its central internal tensions, and its weakness.