rules and norms resulted in stability among member states in unprecedented

Rules and norms resulted in stability among member

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rules and norms resulted in stability among member states in unprecedented levels, which other theories cannot explain. Far from proving the insignificance of global organisations, Destradi (2010)’s depiction of conflicts in international politics seems to suggest that institutions are indispensible if nations are to have any hopes or reaping the benefits that come with sustained cooperation (921). However, this necessity for organisations does not imply that they are often beneficial, let alone that their operations respect interests and power, a cure for violent conflicts, or lower the prospects of war breaking out among nations. In view of Wigell (2016), demanding too much from these organisations is indeed a "false promise" (143). Nonetheless, in a global ecosystem marred with contradictory interests and state power, and unlikely to adopt efficient hierarchical
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International Relations 14 authority, global institutions that operate based on reciprocity are critical in ensuring lasting peace in the world. This institutionalist perspective starts with the presumption of most nations operate under conditions of anarchy. However, with repeated plays under these anarchical conditions, states are often inspired to create institutions and rules, which facilitate collaboration and mutual gains. Christiansen (2016) argues that rational nations have a functional motivation to establish global organisations that provide various tools that aid inter-state cooperation (43). In particular, these institutions help in establishing the commitment and credibility of nations thereby removing any uncertainty whether they would reciprocate cooperative steps. What is more, they act as platforms through which states can negotiate certain pacts, removing transaction costs that may impede agreements ( Dunkerley 2017: 31). In effect, nations can utilise organisations to change the environments in which they interact with other countries. This eliminates anarchy effects, facilitate information flow, and improve the possibility for mutually beneficial collaboration, which ultimately translate into stability in the world order. Conclusion Hegemonic stability and liberal institutionalism are similar yet different theoretical underpinnings of international relations. While they focus on stability and inter-state cooperation in various domains, they disagree on the leadership frameworks in these settings. On one hand, the hegemonic theory outlines that a single state (hegemon) is responsible for overseeing different aspects of the world order. Empirical evidence outlines that global powers function efficiently and show high levels of stability when they are led by a single and powerful economy. In particular, hegemonic stability is applicable to the global monetary system (IMF) and its maintenance has been credited to the singular influence of the US. In contrast, institutionalists argue that global institutions are the core components in the maintenance of world order. In their
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