The present paper is a continuation of [11,6] devoted io the study of
finite type invariants of integral homology 3-spheres. We introduce th
e notion of manifold weight systems, and show that type m invariants o
f integral homology 3-spheres are determined (modulo invariants of typ
e m-1) by their associated manifold weight systems. In particular, we
deduce a vanishing theorem for finite type invariants. We show that th
e space of manifold weight systems forms a commutative, co-commutative
Hopf algebra and that the map from finite type invariants to manifold
weight systems is an algebra map. We conclude with better bounds for
the graded space of finite type invariants of integral homology 3-sphe
res. (C) 1997 Elsevier Science Ltd. All rights reserved.