ABSTRACT
Group hegemony, like the traditional theory of hegemonic stability, asserts that a hegemon maintains the stability of the liberal economic order. The cause of the group hegemon's downfall is subject to speculation. The main contribution of group hegemony is that it shows the relationship between two very important factors in international relations: power and institutions. The group hegemon establishes international rules through institutions to reduce anarchy and encourage order. The implication of group hegemony theory is that a few countries can cooperate to maintain a liberal economic order. The theory of group hegemony asserts that the hegemon adheres to and enforces international rules that are biased in its favor. The group hegemon advocates international rules to promote open markets and provides safeguards to limit the costs of participating in the liberal order. The hegemon advocates liberal economic behavior and supports institutions such as the World Trade Organization, International Monetary Fund, and World Bank.
