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Liberal institutionalism

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Liberal institutionalism (or institutional liberalism or neoliberalism) is a theory of international relations that holds that international cooperation between states is feasible and sustainable, and that such cooperation can reduce conflict and competition. Neoliberalism is a revised version of liberalism. Alongside neorealism, liberal institutionalism is one of the two most influential contemporary approaches to international relations.[1]

In contrast to neorealist scholarship (which is skeptical of prospects for sustainable cooperation), liberal institutionalism argues that cooperation is feasible and sustainable. Liberal institutionalists highlight the role of international institutions and regimes in facilitating cooperation between states.[2] Robert Keohane's 1984 book After Hegemony used insights from the new institutional economics to argue that the international system could remain stable in the absence of a hegemon, thus rebutting hegemonic stability theory.[3]

Keohane showed that international cooperation could be sustained through repeated interactions, transparency, and monitoring.[4][5] According to Keohane and other liberal institutionalists, institutions facilitate cooperation by:

  • Reducing transaction costs[6][7]
  • Providing information[6][7]
  • Making commitments more credible[6]
  • Establishing focal points for coordination[6][7]
  • Facilitating the principle of reciprocity[6]
  • Extending the shadow of the future[6][8][9]
  • Enabling interlinkages of issues, which raises the cost of noncompliance[10]
  1. ^ Powell, Robert (1994). "Anarchy in International Relations Theory: The Neorealist-Neoliberal Debate". International Organization. 48 (2): 313. doi:10.1017/s0020818300028204. S2CID 45773252. Archived from the original on 2022-12-24. Retrieved 2023-06-26.
  2. ^ Axelrod, Robert; Keohane, Robert O. (1985). "Achieving Cooperation under Anarchy: Strategies and Institutions". World Politics. 38 (1): 226–254. doi:10.2307/2010357. ISSN 1086-3338. JSTOR 2010357. S2CID 37411035. Archived from the original on 2021-08-11. Retrieved 2021-08-11.
  3. ^ Keohane, Robert O. (2020). "Understanding Multilateral Institutions in Easy and Hard Times". Annual Review of Political Science. 23 (1): 1–18. doi:10.1146/annurev-polisci-050918-042625. ISSN 1094-2939.
  4. ^ Keohane, Robert O.; Martin, Lisa L. (1995). "The Promise of Institutionalist Theory". International Security. 20 (1): 39–51. doi:10.2307/2539214. ISSN 0162-2889. JSTOR 2539214. S2CID 29960902. Archived from the original on 2021-08-31. Retrieved 2021-08-07.
  5. ^ Norrlof, Carla (2010). America's Global Advantage: US Hegemony and International Cooperation. Cambridge University Press. pp. 30–31. doi:10.1017/cbo9780511676406. ISBN 978-0-521-76543-5. Archived from the original on 2021-08-18. Retrieved 2021-08-11.
  6. ^ a b c d e f Cite error: The named reference :0 was invoked but never defined (see the help page).
  7. ^ a b c Keohane, Robert O.; Victor, David G. (2011). "The Regime Complex for Climate Change". Perspectives on Politics. 9 (1): 7–23. doi:10.1017/S1537592710004068. ISSN 1541-0986. S2CID 14782206. Archived from the original on 2023-06-05. Retrieved 2023-06-26.
  8. ^ Cite error: The named reference :3 was invoked but never defined (see the help page).
  9. ^ Cite error: The named reference :4 was invoked but never defined (see the help page).
  10. ^ Cite error: The named reference :5 was invoked but never defined (see the help page).

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