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Since the early statements of the theory, the independent variable ? hegemony ? has been used to explain a wide array of phenomena ranging from the openness of the markets to the emergence of international regimes and the maintenance of international order1.
Not only had the nature of the dependent variable changed over time. The interpretation of hegemony developed as well. Theoretical developments flourished from three lines of enquiry. The first deals with the issue of identifying who the hegemon is and which power resources are needed for the emergence and the maintenance of its hegemony. The issue of demise or decline of hegemonic power is connected with these questions...
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