Work-in-Progress: "Protecting Capital Asset Portfolio Diversification, Intra-Elite Networks, and Political Influence"


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A Kellogg Work-in-Progress Seminar with Visiting Fellow Victoria Paniagua.

That economic elites exert influence in democratic systems is not a novel idea. Scholars have long been interested in disentangling whether, how, and to what extent this minority influences the policymaking process. Paniagua studies the historical roots of economic elites’ capacity to shape policies with high impact on development and redistribution. She looks at the diversification structure of their asset portfolios to explain the emergence of different types of networks, and thus alternative modes of relation, between economic and political actors. She tested her argument in Argentina and Chile from the mid-19th to the mid-20th centuries using original micro-level data on intra-elite social, political, and economic networks gathered from previously untapped archives.

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