This article by Shannon K O’Neil is published by Bloomberg. Here is an excerpt:

Outsiders are besting incumbents at the ballot box across Latin America. In a region where the establishment has long held a strong electoral advantage, those running against the political status quo have won more than half of the last 15 presidential elections, including in Brazil, Mexico, El Salvador, Peru and Chile. With voters justifiably frustrated by a lack of jobs, ongoing violence and corruption and the inept handling of Covid-19, many observers now expect that the region will veer down a new leftist political and economic path.

Yet whether expressed in hope or in fear, such expectations miss the point. More important than the ideological direction of these new leaders is whether they have the ability to govern: forging political coalitions, enacting legislation and making the most of the administrative levers and bureaucratic tools they have at their disposal. The future direction and stability of Latin America’s market-based democracies depend on it.

Read the full story here.