Hegemonic Stability Theory

The Hegemonic Stability Theory suggests that the international system is more likely to be stable in unipolar system where there is single dominant power, or hegemon. As this hegemon provides public goods such as a stable currency and security guarantees, it reduces uncertainty among states and maintains the international order. This theory also indicates that shifts in hegemonic power can lead to instability and conflict as new powers seek for control and the established order will be disrupted.