Market Power Politics War, Institutions, and Strategic Delay in World Politics

A new theory of market power politics that explains when and why states will delay cooperation or even fight wars in pursuit of this elusive goal.

How are the Iraqi invasion of Kuwait, the Russian incursions into Ukraine and Georgia, and China's occupation of islands in the South China Sea related? All three of these important moments in modern history were driven by the motivation to capture market power. Whether it was oil for Iraq, natural gas for Russia, or rare earth elements for China, the goal isn't just the commodities themselves--it is the ability to determine their price on the global market. In Market Power Politics, Stephen Gent and Mark Crescenzi develop a new theory of market power politics that explains when and why states will delay cooperation or even fight wars in pursuit of this elusive goal. Empirically examining case studies from different regions of the world, they explore how competition between states over market power can create disruptions in the global political economy and potentially lead to territorial aggression and war. They also provide clear policy recommendations, urging international institutions to establish norms that reduce the potential for open conflict. Ultimately, Market Power Politics shows that nations' desire to increase their market power means that the push for territorial expansion will continue to shape the trajectory of world politics.

Stephen Gent Associate Professor of Political Science, University of North Carolina at Chapel Hill, Mark Crescenzi Professor and Chair of the Department of Political Science, University of North Carolina at Chapel Hill

Stephen E. Gent is Associate Professor of Political Science at the University of North Carolina at Chapel Hill. His research largely focuses on the role of third parties in conflict and conflict resolution, including the causes and consequences of military intervention, international mediation, and legal dispute resolution. His work has appeared in the Journal of Politics, International Studies Quarterly, the Journal of Conflict Resolution, and the Journal of Peace Research.

Mark J.C. Crescenzi is the Nancy Hanes White Distinguished Professor of Political Science at the University of North Carolina at Chapel Hill. He specializes in the causes of international conflict and conflict resolution, including institutional, economic and reputation-based motivations for violence. He is the author of Economic Interdependence and Conflict in World Politics and Of Friends and Foes: Reputation and Learning in International Politics.