This paper examines the survival and breakdown of democracies in Latin America from 1945 to 2005, focusing on the role of structural variables such as economic development and inequality, and the performance of the economy. It argues that these factors have not significantly influenced the survival of democracy in the region. Instead, the paper emphasizes the regional political environment and the normative preferences of actors regarding democracy and dictatorship, as well as their political moderation or radicalism. Key findings include: 1. **Economic Development**: Higher levels of economic development did not increase the likelihood of democratic survival in Latin America during this period. 2. **Normative Preferences**: Actors with strong normative preferences for democracy are more likely to see their regimes survive. 3. **Political Moderation**: Policy moderation contributes to the survival of democracy. The paper also discusses the importance of actor behavior, the influence of international factors, and the role of institutional design. It concludes that the stability of democratic regimes in Latin America is more closely linked to the moderation or radicalism of key actors and their normative commitment to democracy rather than structural or economic factors.This paper examines the survival and breakdown of democracies in Latin America from 1945 to 2005, focusing on the role of structural variables such as economic development and inequality, and the performance of the economy. It argues that these factors have not significantly influenced the survival of democracy in the region. Instead, the paper emphasizes the regional political environment and the normative preferences of actors regarding democracy and dictatorship, as well as their political moderation or radicalism. Key findings include: 1. **Economic Development**: Higher levels of economic development did not increase the likelihood of democratic survival in Latin America during this period. 2. **Normative Preferences**: Actors with strong normative preferences for democracy are more likely to see their regimes survive. 3. **Political Moderation**: Policy moderation contributes to the survival of democracy. The paper also discusses the importance of actor behavior, the influence of international factors, and the role of institutional design. It concludes that the stability of democratic regimes in Latin America is more closely linked to the moderation or radicalism of key actors and their normative commitment to democracy rather than structural or economic factors.