This paper attempts to define a research agenda that will explore the relationships among gender, markets and states, taking account of the recent and continuing processes of market liberalization, regionalization, and transformation of the relations between states and societies. It argues that, in order to understand what market liberalization or the formation of regional economic blocs might mean for women, one needs to look beyond market activity per se to nonmarket activity and to women's wellbeing more generally. It selectively reviews some of the literature on structural adjustment and regional trading blocs in order to clarify underlying concepts, and point to new directions for empirical research. In the penultimate section it raises a set of policy and research questions on the role that women's non-governmental organizations can play in shaping the emerging relationships between governments and the private sector.