Abstract
Abstract This contribution examines the role of business magnates (“oligarchs”) in political transitions away from competitive authoritarianism and towards either full authoritarianism or democracy. Based on 65 cases of competitive authoritarian regimes named in the academic literature, 24 historical cases with politically active business magnates are identified for further investigation. The analysis shows that in about half of those cases business magnates do not have a distinct impact on political regime change, as they are tightly integrated into the ruling elites. If they do have an impact, they hamper democratization at an early stage, making a transition to full democracy a rare exception. At the same time, a backlash led by the ruling elites against manipulation through business magnates makes a transition to full autocracy more likely than in competitive authoritarian regimes without influential business magnates.
Highlights
Wealthy businesspeople who are able to influence political decisions acting on their own are in many present and historical cases treated as “grey eminences” who hold considerable political power
After he forced the resignation of the government, he announced his return to the party leadership in 2018.69 In Georgia, business magnates are a major force stabilizing the political regime between competitive authoritarianism and illiberal democracy
The first conclusion concerning the role of business magnates in regime change in competitive authoritarianism is that, in most cases, they do not matter
Summary
Wealthy businesspeople who are able to influence political decisions acting on their own are in many present and historical cases treated as “grey eminences” who hold considerable political power. 300 | Heiko Pleines thoritarian, regimes in which business elites have more autonomy than under either full authoritarian control or democratic rule of law This analysis examines the impact of wealthy businesspeople on the development of electoral or competitive authoritarian regimes. Concepts relating to oligarchs focus on how material wealth translates into political power This analysis, seeks to examine how a specific social group, wealthy businesspeople, affects political regime change. To clearly denote this social group, the term business magnates will be used. Business magnates form a subgroup of business or economic elites.[2] This analysis starts with a brief overview of theoretical concepts addressing the relationship between business magnates and specific types of political regimes. Historical cases are identified and examined in order to gain a better understanding of the role of business magnates in political regime trajectories, which is summarized in the conclusion
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