Eleven general elections scheduled in Latin America over the next 15 months will help drum up political dynamism, but in themselves are not enough to ensure democracy, political analysts say.
'The good news is there is vibrant, functioning, active political competition [in Latin America],' said Moises Naim, Editor of Foreign Policy. But he adds: 'Elections are necessary, but not sufficient for democracy; as important is a functioning system of checks and balances.'
Elections will be held in every one of the Andean nations next year, and in Guyana and Nicaragua. The number, and frequency, of the polls surpasses other regions such as the Middle East or Asia. That is great progress since the 1980s, when the region had numerous military dictatorships in the 1980s, says Naim.
But there are implications for economic policy. Analysts think it likely, in the wake of recent leftist victories in Argentina, Brazil, Chile and Uruguay, that left and centre-left politicians are making gains across the continent.
However leftists in Latin America today may talk and act more like centrists, analysts say. In the last two decades, most Latin nations have toed the line on fiscal discipline, stuck to policies that made their currencies stable and have held inflation down while opening their economies to trade and foreign investment.
These orthodox policies are seen as part of a general consensus that would be upheld by most leaders, even those from the left.
In Mexico, divisions in the Institutional Revolutionary Party, and the possibility of an upstart candidate for the current governing party, National Action Party, is likely create tougher competition for the front-runner, Andres Manuel Lopez Obrador of the left-wing Party of the Democratic Revolution.
Lopez Obrador is considered a leftist with populist tendencies, owing to his emphasis on social programmes while mayor of Mexico City. Yet, if elected, he would be constrained by the independent congress, influential political rivals, the private business sector and the North American Free Trade Agreement, said Naim.
Similar constraints would also face candidates such as Peru's Alan Garcia, Bolivia's Evo Morales and Nicaragua's Daniel Ortega, should they win.
In Brazil, a corruption scandal has weakened the chances for President Luiz Inacio Lula da Silva's reelection, and opens up tight competition for the candidacy in the leading opposition party of former President Fernando Henrique Cardoso.
In Chile, the ruling centre-left coalition is expected to win, but economic policy will remain orthodox.