The article surveys the study of Latin American business politics, focusing on three main areas: The structure of business, the preferences of business, and its power in the political process. The structure of businesses in Latin America is distinct, with a larger share of small and informal firms, comparatively small large firms, and a dominant​ role of multinational corporations (MNCs) and economic groups. We argue that these structures are reflected in business preferences. MNCs’ preferences depend on their strategic orientation, whether they invest in Latin America in order to gain access to resources, to new markets, or to enhance their global productivity. Business groups are often particularly strong in non-competitive industries – resources, oligopolistic non-tradables etc. - and are highly flexible due to hierarchical management and large cash reserves. As a result...

The article surveys the study of Latin American business politics, focusing on three main areas: The structure of business, the preferences of business, and its power in the political process. The structure of businesses in Latin America is distinct, with a larger share of small and informal firms, comparatively small large firms, and a dominant​ role of multinational corporations (MNCs) and economic groups. We argue that these structures are reflected in business preferences. MNCs’ preferences depend on their strategic orientation, whether they invest in Latin America in order to gain access to resources, to new markets, or to enhance their global productivity. Business groups are often particularly strong in non-competitive industries – resources, oligopolistic non-tradables etc. - and are highly flexible due to hierarchical management and large cash reserves. As a result, they a...