The printed article is also available through JSTOR. American Hegemony or Global Governance? Competing Visions of International Security

Since the 1990s, the concepts of global and security governance have emerged as new frameworks for the analysis of international relations. The proponents of these approaches have argued that we are witnessing a transformation of global politics through the simultaneous dynamics of integration and fragmentation. The result of these two dynamics is a shift away from the state as the primary authority and actor in international affairs, thus challenging the state-centric theoretical perspectives that have been developed during the Cold War. Although states retain a central role, the literature on global and security governance suggests that a growing number of international organizations and private actors, such as multinational corporations and non-governmental organizations, are taking on functions ranging from the making to the implementation of international policies (Rosenau and Czempiel 1992; Finkelstein 1995). Moreover, in addition to sectors such as those involving international finance, economics, and the environment (Young 2000; Hall and Biersteker 2002), the proponents of the governance concept find that the fragmentation of policymaking capabilities and authority among state and non-state actors can also be increasingly observed in international security arena. In 1995, the Commission on Global Governance (1995: 99) observed: The breakdown of the bipolar cold war system means that responses to security crises- both wit