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Conceptualizing regional powers’ geoeconomic strategies: neo-imperialism, neo-mercantilism, hegemony, and liberal institutionalism

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  • Mikael Wigell

    (The Finnish Institute of International Affairs)

Abstract

This article argues that geoeconomics, defined as the geostrategic use of economic power, has become an increasingly important feature of regional powers’ strategic behavior. Yet, we still lack analytical tools to identify and compare regional powers’ geoeconomic strategies. The article marks a first attempt to develop a typology for differentiating potential geoeconomic strategies that regional powers may pursue in dealing with their corresponding regions. It merges the regional power focus with a geoeconomic perspective, producing the following four ideal-typical strategies: neo-imperialism, neo-mercantilism, hegemony, and liberal institutionalism. This new typology serves as a conceptual device for creating analytical differentiation between regional powers and the range of possible geoeconomic strategies pursued by them. The paper discusses ways in which the new typology may contribute to our understanding of regional powers’ foreign policy conduct and to the emerging geoeconomic research agenda. While the purpose of the article is not to test any specific hypothesis or to empirically analyze cases, brief case study vignettes will be presented for illustrative purposes, looking particularly at Brazil, the EU, Germany, and Russia.

Suggested Citation

  • Mikael Wigell, 2016. "Conceptualizing regional powers’ geoeconomic strategies: neo-imperialism, neo-mercantilism, hegemony, and liberal institutionalism," Asia Europe Journal, Springer, vol. 14(2), pages 135-151, June.
    • Handle: RePEc:kap:asiaeu:v:14:y:2016:i:2:d:10.1007_s10308-015-0442-x
    DOI: 10.1007/s10308-015-0442-x
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    References listed on IDEAS

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    1. Armijo, Leslie Elliott & Mühlich, Laurissa & Tirone, Daniel C., 2014. "The systemic financial importance of emerging powers," Journal of Policy Modeling, Elsevier, vol. 36(S1), pages 67-88.
    2. Chen, Lurong & De Lombaerde, Philippe, 2014. "Testing the relationships between globalization, regionalization and the regional hubness of the BRICs," Journal of Policy Modeling, Elsevier, vol. 36(S1), pages 111-131.
    3. McKeown, Timothy J., 1983. "Hegemonic stability theory and 19th century tariff levels in Europe," International Organization, Cambridge University Press, vol. 37(1), pages 73-91, January.
    4. Sebastian Krapohl & Katharina L. Meissner & Johannes Muntschick, 2014. "Regional Powers as Leaders or Rambos? The Ambivalent Behaviour of Brazil and South Africa in Regional Economic Integration," Journal of Common Market Studies, Wiley Blackwell, vol. 52(4), pages 879-895, July.
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    Cited by:

    1. Weiqing Song, 2019. "Logic of the Chinese developmental state and China’s geo-economic engagement with Central and Eastern Europe," Asia Europe Journal, Springer, vol. 17(4), pages 387-401, December.
    2. Wei Hu & Yuejing Ge & Zhiding Hu & Shuai Ye & Feng Yang & Haining Jiang & Kun Hou & Yun Deng, 2022. "Geo-Economic Linkages between China and the Countries along the 21st-Century Maritime Silk Road and Their Types," IJERPH, MDPI, vol. 19(19), pages 1-28, October.
    3. Yi Liang & Mingxing Chen & Dadao Lu & Zijin Ding & Zhi Zheng, 2019. "The Spatial Evolution of Geoeconomic Pattern among China and Neighboring Countries since the Reform and Opening-Up," Sustainability, MDPI, vol. 11(7), pages 1-17, April.
    4. Shufang Wang & Axing Zhu & Yuejing Ge & Yuli Liu & Xiao Xue, 2017. "The Spatio-Temporal Evolution of Geo-Economic Relationships between China and ASEAN Countries: Competition or Cooperation?," Sustainability, MDPI, vol. 9(6), pages 1-21, June.
    5. Nicole VASILKOVSCHI, 2022. "The increasing importance of teaching and learning geoeconomics in a meaningful context," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 14(3), pages 269-284, December.
    6. Wei Hu & Yuejing Ge & Qin Dang & Yu Huang & Yuan Hu & Shuai Ye & Shufang Wang, 2020. "Analysis of the Development Level of Geo-Economic Relations between China and Countries along the Belt and Road," Sustainability, MDPI, vol. 12(3), pages 1-21, January.
    7. Shufang Wang & Xiao Xue & Axing Zhu & Yuejing Ge, 2017. "The Key Driving Forces for Geo-Economic Relationships between China and ASEAN Countries," Sustainability, MDPI, vol. 9(12), pages 1-20, December.

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