Wealthy Nations Industrialized World Developed World North

Leadership Matters

Pre-requisites for Economic Hegemony

Dominant economy Political will to exert leadership

Hegemonic Stability Theory

Economic Hegemony in History

1815-1914: British Hegemony 1914-1918: Hegemonic War 1919-1939: No hegemon 1939-1945: WW II 1945-present?: US Hegemony

British Hegemonic SuccessGrowth of Railways in Europe 19th Century

(length in km)

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British Hegemonic Success Cotton

When there is no economic leadership? (After WW I)

US GNP per capita

When there is no economic leadership?

US Liberal Hegemony1945

John Maynard FDRTruman

Keynes

US Liberal System

1. Bretton Woods Monetary System

2. General Agreement on Tariffs and Trade (GATT)1. World Trade Organization (WTO)

3. International Monetary Fund (IMF)

4. World Bank

Bretton Woods System

Gold Standard Floating Exchange Rates

GATT/WTO

WTO

IMF

International Monetary Fund

Trade

Debt Already getting debt relief with conditions: Benin,

Bolivia, Burkina Faso, Cameroon, Ethiopia, Ghana, Guyana, Honduras, Madagascar, Malawi, Mali, Mauritania, Mozambique, Nicaragua, Niger, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, Tanzania, Uganda, and Zambia.

Receiving debt relief and deciding on conditions: Afghanistan, Burundi, Chad, the Democratic Republic of the Congo, the Republic of Congo, the Gambia, Guinea, Guinea-Bissau, and Haiti.

Eligible for debt relief: Central African Republic, Comoros, Côte d’Ivoire, Eritrea, the Kyrgyz Republic, Liberia, Nepal, Somalia, Sudan, and Togo.

Source: World Bank Other Debt Statistics

World Bank