CRISIS, PARTY ADAPTATION AND REGIME STABILITY IN ARGENTINA - THE CASEOF PERONISM, 1989-1995

The economic crises and adjustment processes of the last decade have f undamentally challenged Latin American parties, altering established p olicy parameters and straining traditional social coalitions. The ques tion of whether or not established parties successfully adapt to these changes is critical to democratic stability, for when parties fail an d party systems decompose, democratic regimes often become vulnerable. This article examines a case of successful party adaptation: the (Per onist) Justicialista Party (PJ) in Argentina. Since 1989, a Peronist g overnment has implemented a set of neoliberal reforms that run directl y counter to Peronism's traditional populist program. Yet despite this shift, the PJ has retained its mass base. After briefly outlining the internal changes in the PJ since the mid-1980s, the article seeks to explain the party's adaptive capacity. It argues that the PJ's adaptat ion was facilitated by a distinctive configuration of organizational f eatures: an under-institutionalized party hierarchy and an entrenched mass base. This combination of features permitted rapid change at the party leadership level, while at the same time helping to ensure a sta ble base of support.