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Liberal institutionalism

Liberal institutionalism (some times referred to as neoliberalism) shows how cooperation can be achieved in international relations even if neorealist assumptions apply (states are the key actors in world politics, the international system is anarchic, and states pursue their self interest). Liberal institutionalists highlight the role of international institutions and regimes in facilitating cooperation between states.

Prominent neoliberal institutionalists are John Ikenberry, Robert Keohane, and Joseph Nye. Robert Keohane's 1984 book After Hegemony used insights from the new institutional economics to argue that the international system could remain stable in the absence of a hegemon, thus rebutting hegemonic stability theory.