The Challenge of Hegemony explains how international forces subtly influence foreign, economic, and security policies of declining world powers. Using detail-rich case studies, this sweeping study integrates domestic and systemic policy to explain these countries' grand strategies. The book concludes with a discussion of the implications for the future of American foreign policy.

"His conceptually rigorous and tightly reasoned study . . . reminds us that power is never value neutral but organizes commercial systems in liberal or imperial terms."
---Perspectives on Politics

"Lobell's book is tightly written, nicely argued and thoroughly researched to a fault. He seems to delight in historical detail. The complexity of his approach is refreshing."
---International Affairs

"The Challenge of Hegemony is a pleasure to read. It is both theoretically sophisticated and empirically rich."
---International Studies Review

"The Challenge of Hegemony offers a compelling reinterpretation of key historical cases and provides wise guidance as to how the United States should wield its power today."
--Charles A. Kupchan, Council on Foreign Relations

"Lobell demonstrates clearly how the international environment confronting great powers interacts with their domestic political coalitions to produce different grand strategies. Through a masterful sweep of history, Lobell shows us the alternative trajectories before the United States today."
--David A. Lake, University of California, San Diego

In The Political Economy of Regional Peacemaking, scholars examine the efficacy of trade agreements, economic sanctions, and other strategies of economic statecraft for the promotion of peace both between rival states and across conflict-ridden regions more generally. In the introduction, Steven E. Lobell and Norrin M. Ripsman pose five central questions: (1) What types of economic statecraft, including incentives and sanctions, can interested parties employ? (2) Who are the appropriate targets in the rival states—state leaders, economic and social elites, or society as whole? (3) When should specific economic instruments be used to promote peace—prior to negotiations, during negotiations, after signature of the treaty, or during implementation of the treaty? (4) What are the limits and risks of economic statecraft and economic interdependence? (5) How can economic statecraft be used to move from a bilateral peace agreement to regional peace?

The chapters that follow are grouped in three sections, corresponding to the three stages of peacemaking: reduction or management of regional conflict; peacemaking or progress toward a peace treaty; and maintenance of bilateral peace and the regionalization of the peace settlement. In each chapter, the contributors consider the five key questions from a variety of methodological, historical, cultural, and empirical perspectives, drawing data from the Pacific, the Middle East, Europe, Asia, and Latin America. The conclusion expands on several themes found in the chapters and proposes an agenda for future research.