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Power and Governance in aPartially Globalized WorldRobert O. Keohane has been one of the most innovative and influentialthinkers in international relations for more than three decades. His groundbreaking work in institutional theory has redefined our understanding ofinternational political economy. This book is a selection of his most recentessays, which address such core issues as interdependence, institutions, thedevelopment of international law, globalization, and global governance. Theessays are placed in historical and intellectual context by a substantial newintroduction outlining the developments in Keohane’s thought. In an original afterword (Chapter 12), the author offers a challenging interpretationof the September 11th attacks and their aftermath.Power and Governance in a Partially Globalized World is essential readingfor anyone with an interest in international relations.Robert O. Keohane is James B. Duke Professor of Political Science at DukeUniversity. He has also taught at Swarthmore College, Stanford, Brandeis,and Harvard. His publications include After Hegemony (Princeton University Press 1984), International Institutions and State Power (Westview1989), Ideas and Foreign Policy, co-edited with Judith Goldstein (CornellUniversity Press 1993), and Power and Interdependence, co-authored withJoseph S. Nye, Jr. (third edition: Addison Wesley Longman 2001).

Power and Governance in aPartially Globalized WorldRobert O. KeohaneLondon and New York

First published 2002by Routledge11 New Fetter Lane, London EC4P 4EESimultaneously published in the USA and Canadaby Routledge29 West 35th Street, New York, NY 10001Routledge is an imprint of the Taylor & Francis GroupThis edition published in the Taylor & Francis e-Library, 2004. 2002 Robert O. KeohaneAll rights reserved. No part of this book may be reprinted orreproduced or utilised in any form or by any electronic,mechanical, or other means, now known or hereafterinvented, including photocopying and recording, or in anyinformation storage or retrieval system, without permission inwriting from the publishers.British Library Cataloguing in Publication DataA catalogue record for this book is available from the British LibraryLibrary of Congress Cataloging in Publication DataA catalog record for this book has been requestedISBN 0-203-21817-5 Master e-book ISBNISBN 0-203-27375-3 (Adobe eReader Format)ISBN 0–415–28818–5 (hbk)ISBN 0–415–28819–3 (pbk)

To Nan: Partner, Lover and Friend

ContentsPrefaceAcknowledgments1 Introduction: from interdependence and institutions toglobalization and governancexixiii1ROBERT O. KEOHANE, 2002From interdependence to institutional theory 2Institutional and realist theory 6Institutionalism and the puzzle of compliance 7Liberalism, sovereignty and security 10From institutions to law 12From interdependence to globalism 14From institutions to governance 15PART IInterdependence and institutions2 International institutions: can interdependence work?2527ROBERT O. KEOHANE, 1998Theory and reality, 1919–89 28Yesterday’s controversies: 1989–95 31Today’s debates 32Overcoming the democratic deficit 34Want to know more? 373 International liberalism reconsideredROBERT O. KEOHANE, 1990Marxism and realism 4139

viiiContentsLiberalism as a theory of international relations 44Evaluating liberalism: doctrine and practice 534 Hobbes’s dilemma and institutional change in world politics:sovereignty in international society63ROBERT O. KEOHANE, 1995Hobbes’s dilemma and the institutionalist response 66Institutions: constitutional government and sovereignty 68Sovereignty under conditions of high interdependence 71Zones of peace and conflict: a partially Hobbesian world 75Responses to conflict: is the United States bound to lead? 77Conclusion 795 Risk, threat, and security institutions88CELESTE A. WALLANDER AND ROBERT O. KEOHANE, 1999A typology of security institutions 90Institutional hypotheses on change and adaptation 95The transformation of NATO 104Conclusions 108PART IILaw6 International relations and international law: two optics115117ROBERT O. KEOHANE, 1996The “instrumentalist optic” 119International law and the “normative optic” 120Evaluation 122The optics’ causal pathways and their common nodes 123Conclusion 1287 The concept of legalizationKENNETH W. ABBOTT, ROBERT O. KEOHANE,ANDREW MORAVCSIK, ANNE-MARIE SLAUGHTER ANDDUNCAN SNIDAL, 2000The elements of legalization 132The variability of legalization 134The dimensions of legalization 139Conclusion 148132

Contents8 Legalized dispute resolution: interstate and transnationalix152ROBERT O. KEOHANE, ANDREW MORAVCSIK ANDANNE-MARIE SLAUGHTER, 2000A typology of dispute resolution 154The politics of litigation and compliance:from interstate to judicial politics 164The interstate and transnational dynamics of legalization 173Conclusion 181PART IIIGlobalism, liberalism, and governance9 Governance in a globalizing world191193ROBERT O. KEOHANE AND JOSEPH S. NYE JR., 2000Defining globalism 193Globalization and levels of governance 202Globalization and domestic governance 204The governance of globalism: regimes, networks, norms 208Conclusions: globalism and governance 21410 The club model of multilateral cooperation and problems ofdemocratic legitimacy219ROBERT O. KEOHANE AND JOSEPH S. NYE JR., 2001The club model of multilateral cooperation 220Adversary democracy and unitary democracy inglobal institutions 226Transparency and participation in the WTO 227Democracy, legitimacy, and accountability 233Conclusions: the WTO, legitimacy, and governance 24111 Governance in a partially globalized worldROBERT O. KEOHANE, 2000Desirable institutions for a partially globalized world 247Institutional existence and power 250Institutional design: bringing ideals and reality together 260Conclusion 265245

xContents12 The globalization of informal violence, theoriesof world politics, and the “liberalism of fear”272ROBERT O. KEOHANE, 2002The globalization of informal violence and thereconceptualization of space 273Interdependence and power 276Institutions and legitimacy 277The “liberalism of fear” 281Conclusion 284Index288

PrefaceThe essays in this book were first published between 1990 and 2001 andindicate the development of my thinking during those years. They form asequel to my previous volume of essays, International Institutions and StatePower (Boulder: Westview, 1989). The new introduction to this volumedescribes the conception of world politics that informs them all, as well as theevolution of my thinking during the last decade of the Millennium. Since thatintroduction combines intellectual with personal history, it leaves little forthis preface except acknowledgements of my debts to others.This book was first imagined not by me but by my editor, Craig Fowlie.Craig approached me with the idea for a book of essays a couple of years ago,and eventually the seed he planted germinated. I am grateful to him for hisconfidence and persistence, and for his efficiency in securing reviews andmanaging the editorial process. The previously published chapters appear asthey did originally, with a few minor editorial changes and corrections ofpoints of fact, but without changes in interpretation or argument.The manuscript was completed while I was on leave from Duke Universityin the fall of 2001. Chapters 1 and 12 were written then. Duke has been arewarding place to teach and to do research – not to speak of watchingbasketball! I wish to express my appreciation to Duke University and inparticular to the chair of the Department of Political Science, MichaelMunger, for providing me with the leave that made this volume possible atthis time. I also wish to thank my assistant, Doris Cross, for her help inmaking the final arrangements for sending this work to the publisher.Chapters 3, 4, 6 and part of Chapter 5 were written while I was on thefaculty of the Department of Government of Harvard University. Harvardalways treated me very well, and it is difficult to imagine that I would havewritten this book without the opportunities offered by this great university.Dean Jeremy Knowles was particularly kind and generous to me when Idecided to leave Harvard for Duke, and I wish to record here my thanks tohim for his thoughtfulness and consideration.My “turn toward law” was facilitated not only by the intellectual interestsand personal friendships discussed in the introduction, but also by a FrankKenan Fellowship at the National Humanities Center, Research Triangle

xiiPrefacePark, North Carolina, in 1995–96. Frank Kenan was a great benefactorof many fine institutions, whom it was an honor to know. The NationalHumanities Center is a wonderful place for reflection and writing, and I amgrateful to its Director, Robert Connor, and its Associate Director, KentMullikin.One of my most important debts is to the co-authors of five of the papersin this volume: Kenneth Abbott, Andrew Moravcsik, Joseph S. Nye, DuncanSnidal, Anne-Marie Slaughter, and Celeste A. Wallander. I learned from allof these colleagues and friends, who have generously agreed to allow me toreprint our co-authored work here. I must particularly acknowledge thecontributions to my thinking of Anne-Marie Slaughter, since without herprodding and her friendship, my turn toward international law is hard toimagine. And if it were not so important, it would go without saying that mygreatest debt to a co-author is to Joseph S. Nye. Joe and I have been workingtogether, off and on, for over 33 years – more than half our lives. Joe taughtme more than I can convey – probably more than I am aware. He certainlytaught me how to bring otherwise inchoate ideas together into sustainedpublished form. Our friendship has also reminded me often of the pleasuresof linking intellectual with personal comradeship.The person with the greatest impact on my life is my wife, NannerlOverholser Keohane. Her own career as a political theorist, college president,and university president, is an inspiration to me, as it has been to others. Herthinking about political philosophy has enriched my own perspectives, andher criticisms and suggestions on my writings are always trenchant. She caresdeeply about the institutions she leads and the people within them, neverletting her own ego drive her decisions. She manages stress and tension, at alevel never experienced by mere faculty members, with remarkable grace,humor, and resilience. And she seizes the joys and opportunities of life withincomparable zest. Living with her is an enriching experience, and most ofthe time, it is really fun! I therefore dedicate Power and Governance in aPartially Globalized World to Nan Keohane.Durham, North CarolinaDecember 14, 2001

AcknowledgmentsThe author and publishers would like to thank the following copyrightholders for granting permission to reproduce material in this work:‘International Institutions: Can Interdependence Work?’ reproduced withpermission from Foreign Policy #110 (Spring 1998). Copyright 1998 byCarnegie Endowment for International Peace.Cambridge University Press for permission to reproduce ‘InternationalLiberalism Reconsidered’ from John Dunn ed., Economic Limits to ModernPolitics (1990), pp. 165–194.‘Hobbes’s Dilemma and Institutional Change in World Politics: Sovereigntyin International Society’ from Whose World Order? by Hans-Henrick Holmand Georg Sørensen. Copyright 1995 by Westview Press, Inc. Reprinted bypermission of Westview Press, a member of Perseus Books, L.L.C.Oxford University Press for permission to reproduce ‘Risk, Threat, andSecurity Institutions’ by Robert O. Keohane and Celeste Wallander fromHelga Haftendorn, Robert O. Keohane and Celeste Wallander, eds, ImperfectUnions: Security Institutions over Time and Space (1999), pp. 21–47.Harvard International Law Journal for permission to reproduce ‘International Relations and International Law: Two Optics’ from HarvardInternational Law Journal 38–1 (Spring 1997), pp. 487–502. Copyright 1997by the President and Fellows of Harvard College and the Harvard CivilRights–Civil Liberties Law Review.Massachusetts Institute of Technology Press Journals for permission toreproduce ‘The Concept of Legalization’ by Robert O. Keohane, KennethAbbot, Andrew Moravcsik, Anne-Marie Slaughter and Duncan Snidalfrom International Organization 54–3 (Summer 2000), pp. 401–419. Copyright 2000 by the IO Foundation and the Massachusetts Institute ofTechnology.

xivAcknowledgmentsMassachusetts Institute of Technology Press Journals for permission toreproduce ‘Legalized Dispute Resolution: Interstate and Transnational’ byRobert O. Keohane, Andrew Moravcsik and Anne-Marie Slaughter fromInternational Organization 54–3 (Summer, 2000), pp. 457–488. Copyright 2000by the IO Foundation and the Massachusetts Institute of Technology.Reprinted by permission of the Brookings Institution Press, Washington DC,‘Governance in a Globalizing World’ by Robert O. Keohane and J. S. Nyefrom Joseph S. Nye and John D. Donahue, eds, Governance in a GlobalizingWorld (Brookings: 2000), pp. 1–41.Reprinted by permission of the Brookings Institution Press, Washington DC,‘The Club Model of Multilateral Cooperation and Problems of DemocraticLegitimacy’ by Robert O. Keohane and J. S. Nye from Roger B. Porter et al.,eds, Efficiency, Equity and Legitimacy: The Multilateral Trading System at theMillennium (Brookings: 2001), pp. 264–307.American Political Science Association for permission to reproduce ‘Governance in a Partially Globalized World’ from American Political Science Review(March 2001), pp. 1–13.

1Introduction: frominterdependence andinstitutions to globalizationand governance1Robert O. Keohane(2002)This volume contains essays written (several in conjunction with co-authors)between 1990 and 2001. All of them revolve around issues of interdependence, institutions, and governance in world politics. They address a widevariety of different problems, but they do so, I believe, from the standpoint ofa consistent analytical framework. That is, there is a view of how the worldworks embedded in these essays, each of which reveals a different aspect ofthis multifaceted understanding of world politics.The purpose of this introduction is, first of all, to elucidate this conceptionof how the world works. It is both individualist and institutionalist, regardinginstitutions both as created by human action and as structuring that action.The principal motor of action in this view is self-interest, guided by rationality, which translates structural and institutional conditions into payoffs andprobabilities, and therefore incentives. But my conceptions of self-interestand rationality are broad ones. Self-interest is not simply material; on thecontrary, it encompasses one’s interest in being thought well of, and in thinking well of oneself. One’s self-interest is not divorced from one’s principledideas or identity but closely connected with them. Furthermore, not all actionis necessarily self-interested: actions such as those of firemen rushing into theburning World Trade Center on September 11, 2001, reflect commitment andcourage rather than interest.The resulting conception of how the world works is complex, seeking totake into account subjectivity as well as objectivity, primal urges for poweras well as institutional constraints, principled beliefs and worldviews thatcannot be validated as well as rational calculation. It therefore lacks parsimony. The core of my contribution to this view of the world has been toexplore how international institutions operate, in the context of interdependence. But my exploration of institutions and interdependence has taken placein the context of an awareness of how they are affected by other, broaderfactors. Hence, I do not assume that institutions and interdependence are themost important aspects of contemporary world politics, that they somehowcontain the unique key to history. Indeed, they only make sense if they are fitinto the larger puzzle.

2IntroductionWhat follows is part intellectual autobiography, part elaboration of connections among views, and presumably part rationalization of argumentsthat I now see as more closely connected than they may have originallybeen.2 After all, to a considerable extent we invent the past. Nevertheless, Ibelieve that this reconstruction is not pure invention; and it can be at leastpartially tested by reference to the essays that appear, with minor stylistic orgrammatical changes but without substantive changes, in this volume.I begin with the concept of interdependence, as discussed and elaboratedby Joseph S. Nye and myself in 1977. I next discuss what I call “institutionaltheory” and its research program, then turn to its implications for the studyof international law. From there, I move to the two key buzzwords of our ownday – globalization and governance – and try to show how, in discussingthose concepts, I used and elaborated the framework of analysis developedearlier in the study of institutions and interdependence. At the end of thisintroduction, I refer to an essay that illustrates how my way of understandingworld politics can be applied to contemporary events. Shortly after September 11 I set myself the task of asking about the implications of that attack fortheories of world politics, in particular for the theories with which my ownwork is associated. My response was not meant to be comprehensive, sincescholars with other specialties would respond from their own distinctiveperspectives. But since this essay should illuminate both the value and thelimitations of my own approach, it is included as Chapter 12 of this volume.From interdependence to institutional theoryOver thirty years ago, astute observers of the world political economy beganto comment on striking increases in economic connections among societiesand the growing role of multinational corporations (Cooper 1968; Vernon1971). Meanwhile, the literature on the European Community, pioneered byErnst B. Haas, focused on how economic interdependence affected arrangements for governance (Haas 1958). Nye and I picked up on these themes,beginning with our edited special issue of International Organization ontransnational relations (Keohane and Nye 1972), a term that we did notinvent but that we did insert into the literature on world politics.At that time the buzzword for these changes was “interdependence”. In the1970s, Nye and I built a theory elucidating the notion of “complex interdependence,” an ideal type for analyzing situations of multiple transnationalissues and contacts in which force is not a useful instrument of policy. Wedefined interdependence itself more broadly, to encompass strategic issuesinvolving force as well as economic ones. In our analysis, interdependenceis frequently asymmetrical and highly political: indeed, asymmetries ininterdependence generate power resources for states, as well as for non-stateactors. Power and Interdependence, published first in 1977, elaborated thistheory and applied it to fifty years of history (1920–1970) in two issueareas (oceans and money) and two country relationships (US–Australia and

Introduction3US–Canada). There were a number of gaps in our analysis, some of whichwe acknowledged a decade later,3 but the analysis of the relationshipbetween asymmetrical interdependence and power continues to be useful, asillustrated by Chapter 12.Power and Interdependence contained an incipient theory of institutions,in the form of what Nye and I called an international organization modelof regime change (Keohane and Nye 1977, 54–58). But this theory was notwell-developed. What preoccupied me for seven years after the publicationof Power and Interdependence was the puzzle of why states establish international regimes – rule-oriented institutions that limit their Members’ legalfreedom of action. In After Hegemony: Cooperation and Discord in the WorldPolitical Economy (1984), I presented a theory of international institutionsbased on rationalist theory, in particular economic theories of the firm and ofimperfect markets. I argued that institutions perform important tasks forstates, enabling them to cooperate. In particular, institutions reduce the costsof making, monitoring, and enforcing rules – transaction costs – provideinformation, and facilitate the making of credible commitments. In thistheory, the principal guarantors of compliance with commitments are reciprocity (including both threats of retaliation and promises of reciprocalcooperation) and reputation. A brief summary of the major arguments ofthis theory, and a discussion of its evolution, is contained in Chapter 2 below.My formulation of institutional theory has often been referred to as“liberal institutionalism” or “neo-liberal institutionalism.” These labels donot appeal to me, not just because they are awkward. My theory does have itsroots in liberalism, as Chapters 3 and 11 demonstrate. But the connotationsof liberalism are multiple and misleading. My theory has nothing to do withthe view that commerce leads necessarily to peace; that people are basicallygood; or that progress in human history is inevitable – all propositions sometimes associated with liberalism. Nor is it connected with the view that libertyshould have priority over equality and social justice, much less with the “neoliberalism” of the past decade: the so-called “Washington Consensus” thatdictated the dismantling of much governmental regulation of markets indeveloping countries. My liberalism is more pessimistic about human natureand more cautious about causal connections running from economics topolitics than some versions of classical liberalism; and I have never been asupporter of the “Washington Consensus” in its strong neo-liberal form.Since attaching a “liberal label” to my perspective generates such a need forexplication, it seems better to leave it off entirely.“Institutionalist” is descriptive of my work, since it emphasizes the significance of institutions and seeks to explain them. Using this term is not meantas a claim to intellectual hegemony. Indeed, there are many other institutionalist theories, often with quite different concepts, and implications, than myown (March and Olsen 1995, Chapter 2; March and Olsen 1999; Ruggie 1998;Ruggie 1999). However, I regard my own formulation as having as good aclaim to the adjective “institutionalist” as any of its competitors. When I

4Introductionrefer below to “institutionalist theory,” I refer to my own version ofinstitutionalism.The theory in After Hegemony was rather stylized: as in Power and Interdependence, differences in domestic politics were deliberately overlooked forpurposes of simplification. This is not to say that the importance of domesticpolitics was denied: quite the contrary. But the theory did not encompassdomestic politics. Indeed, the theoretical gap created by the omission fromthe theory of domestic politics was sufficiently wide to drive many dissertations through it. Some of my former students have been leaders in this effort.They have analyzed the impact of domestic politics on world politics, in thecontext of a sophisticated understanding of interstate politics and the rolesplayed by international institutions and non-state actors.4The fact that my former students have written over a dozen books linkingdomestic politics and international relations is not only gratifying to me personally; it illustrates a broader aspect of American graduate education that isoften overlooked. The resumés of scholars normally include only their ownwork. But the puzzles that they recognize but fail to address may be asimportant to their own students, and to their field as a whole, as their owncontributions. Paths that lead through open doors may beckon more stronglyto aspiring scholars than imposing intellectual edifices, no matter howimpressive. And the explorations of graduate students instruct their professors. Graduate education is a process of interchange, not merely oftransmission.The theory developed in After Hegemony and closely related writings (e.g.Keohane 1986b) was strongly affected by my research on trade, monetary,and energy issues – all questions of material self-interest in which reciprocityplayed a substantial role. On the whole, the same framework fits environmental issues quite well (Haas, Keohane and Levy 1993; Keohane and Levy1996). Perhaps this congruity should not be surprising, since similar questions arise of cross-border externalities and economic competition. On bothsets of issues, monitoring of agreements is important and is carried outlargely under the auspices of international institutions, while enforcementtakes place through state action, legitimated through such institutions.Environmental issues do have a moral dimension that is largely missingfrom the economic questions emphasized in After Hegemony. Principledideas, concerned with right and wrong, play a significant role in mobilizingpublics on issues such as ozone depletion, pollution of the oceans, and globalwarming. Such principled ideas play an even more prominent role on questions of human rights. And causal ideas, specifying connections betweencause and effect, are important in policy debates in both issue-areas, as well asin other arenas of world politics.Intrigued by the role of ideas, and their connections to rationalistic frameworks of analysis, Judith Goldstein and I began to explore the role of ideason policy in the early 1990s (Goldstein and Keohane 1993). The role ofideas, of course, has been a long-standing theme in the work of a number

Introduction5of distinguished students of international relations, including my ownmentor, Stanley Hoffmann (1987), Hedley Bull (1978), and Martin Wight(1992). Goldstein and I, however, were particularly interested in reconcilingtheories of rational choice, with which we were sympathetic, with our viewthat ideas are significant in world politics. We distinguished among threetypes of beliefs: worldviews, principled beliefs, and causal beliefs. Worldviewsare illustrated by religion, principled beliefs by doctrines of human rights,and causal beliefs by Keynesian or monetarist theories of macroeconomics.All three types of belief affect policy, but they do so differently.Goldstein and I went on to suggest that ideas exert effects along threecausal pathways: (1) as “roadmaps,” (2) as focal points where there is nounique equilibrium, and (3) as embedded elements of institutions. Our essayis not reprinted here both because it is well-known and easily accessible, andbecause it forms an integral part of an edited volume to which it served as anintroduction. But my thinking since the early 1990s has been deeply affectedby my appreciation, heightened by work on this project, of the role of ideas inworld politics. As noted below, my recent work on international law seeks toexplore how the ideas incorporated in legal thinking affect persuasion andpractice in world politics.As these remarks imply, I disagree with the frequently-heard criticism thatthe role of ideas is necessarily de-emphasized by a view of the world that isbased on an individualist ontology and a neo-positivist epistemology. It isindividuals who have beliefs, although of course these beliefs are formedthrough social processes, and are perpetuated through societies that outliveindividuals. As social scientists, we can investigate the impact of these beliefsthrough theoretical and empirical work, exploring how variations in ideas –between individuals and between groups – help to account for variations inbehavior. Of course we have to be alert to the operation of social norms andpractices, and shared memories – so we should not adopt an unsocialized,atomistic notion of human beings. Man, as Aristotle pointed out, is a socialanimal. But in my view we should focus on individuals as the principal unit ofanalysis, as long as we keep in mind their interactions in society, and thehistorical and cultural contexts within which they live. This means that theanalyst goes back and forth between individual and society, regarding bothseriously, but always seeking to explain individual behavior, and aggregate itupward, rather than to theorize about society without considering whetherthe resulting propositions are consistent with patterns of individual behavior.In this way, we can give our theories micro-foundations and avoid the reification of abstract concepts or the positing of a collective consciousness forwhich there seems to be little scientific evidence.The most important work on the role of ideas in world politics has beendone not by me but others. The politics of human rights are not wellexplained by the reciprocity-based logic of institutionalist theory: states donot retaliate for human rights violations by others by abridging human rightsthemselves (Hathaway 2001). On other issues, such as the use of weapons of

6Introductionmass destruction, principled ideas and organizational cultures seem tohave played an important a role in accounting for behavior (Katzenstein(ed.) 1996; Legro 1995). “Constructivist” writing on world politics hasemphasized, as did work drawing on psychology earlier (Jervis 1976), theimportance of subjectivity: the beliefs by which our images of the world areconstructed in shaping world politics (Wendt 1999). Major work on therole of ideas has also been done by such scholars as Goldstein, MarthaFinnemore, Margaret Keck, Friedrich Kratochwil, Henry R. Nau, my formerstudent Daniel Philpott, Thomas Risse, John Gerard Ruggie, and KathrynSikkink.5Institutional and realist theoryIt should be clear from this discussion that I do not claim that institutionaltheory is a comprehensive theory of world politics. I still believe it to besuperior to a crude realism that fails to incorporate international institutionsas important entities (Mearsheimer 1994/95; Keohane and Martin 1995). Butas Peter Katzenstein, Stephan Krasner and I have argued (Katzenstein et al.1999b), a stylized comp

PART III Globalism, liberalism, and governance 191 9 Governance in a globalizing world 193 ROBERT O. KEOHANE AND JOSEPH S. NYE JR., 2000 Defining globalism 193 Globalization and levels of governance 202 Globalization and domestic governance 204 The governance of globalism: regimes, networks, norms 208 Conclusions: globalism and governance 214

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