The Theory of Hegemonic Stability and International Regime Change
It should be apparent from the above account that a theory purporting to explain international economic regime change between 1967 and 1977 faces two tasks: first, to account for the general pattern of increasing weakness, and second, to explain why the oil regime experienced the most serious changes, followed by money and trade. Furthermore, hegemonic stability theory must show not only a correspondence between patterns of regime change and changes in tangible power resources, but it must be possible to provide at least a plausible account of how those resource changes could have caused the regime changes that we observe.