We study spectra, localization properties and local chirality of eigenvecto
rs of the lattice Dirac operator. We analyze ensembles of quenched SU(3) co
nfigurations on both sides of the QCD phase transition. Our Dirac operator
is a systematic expansion in path length of a solution of the Ginsparg-Wils
on equation. Analyzing the finite volume behavior of our observables and th
eir scaling with the gauge coupling we come up with a consistent picture of
topological excitations on both sides of the QCD phase transition. Our res
ults support the interpretation of the dominant gauge field excitations see
n by the Dirac operator as a fluid of instanton-like objects. (C) 2001 Else
vier Science B.V. All fights reserved.