Corporation‐based Parties: The Present and Future of Business Politics in Latin America

Throughout Latin America, particular business conglomerates have begun to sponsor their own political parties, building those parties on their own corporate assets. These “corporation‐based parties” represent a new wave of highly particularized conservative representation in the region. Indeed, corporation‐based parties have become a regular—though largely unrecognized—feature of contemporary Latin American party systems. This article develops a theory of how and why particular business conglomerates sponsor their own parties, provides substantial evidence for the existence of corporation‐based parties across much of Latin America, and uses a case study of a party built on a Panamanian supermarket chain to demonstrate how such parties are organized. In closing, it discusses the possible future for these parties in the region.