Theories in International Relations: Neo-Liberalism Keohane, After Hegemony Axelrod and Keohane, Achieving Cooperation under Anarchy: Strategies and Institutions Conceptualization of the international system ‘International regimes’ concept Foreign policy formulation

Conceptualization of the international system Assumptions: - International environment is anarchical - States are the most significant actors in the international system and the non-state actors are subordinated to them Problem: how to initiate and maintain cooperation under conditions of anarchy International regimes/ international institutions thesis: Neo-Liberalism accounts for the process of achieving sustained patterns of cooperation under anarchy Why do states choose to set up regimes - reduce transaction cost - increase security

‘International regimes’ concept Definition: set of rules, norms and procedures around which expectations converge; these apply to a concrete issue area; vary in terms of scope and depth How do the regimes mitigate anarchy: alter the payoff structures facing actors; lengthen the shadow of the future; N-person games are broken down into games with smaller number of actors (Axelrod and Keohane, 1985) reducing the political market failures in terms of information, enforcement (making defection from norms easier to punish) and monitoring (Ruggie, 1998) Typology of the international and transnational organizations membership: universal and regional; intergovernmental, supranational and transnational Goals: specific and general

Foreign policy formulation National preferences and interests: domestic politics process of learning International institutions and bargaining