This paper is an attempt to review the concepts of "international public goods" and "hegemony" from the stand point of an economist. It focuses on the incentive structure that a large country or hegemon as well as other countries face in order to make a collective decision. It is misleading, I will argue, to treat many different situations in a single framework of "public goods" or "hegemony". The benefit-cost structure for nations in the trade liberalization process or trade conflicts is different from that in the international monetary cooperation or in the choice of the international monetary regime.
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Paper provided by Yale - Economic Growth Center in its series Papers with number
756.