ABSTRACT
Portugal's transition to democracy in 1974 pioneered the ‘third wave of democratization’. Almost 50 years on, Portugal's democracy is not only the oldest ‘third wave democracy’ but also one of the most stable, with political institutions largely unchanged and a resilient party system. This stability is remarkable in the face of global trends of increasing party system deinstitutionalisation and democratic backsliding. This chapter explores Portugal's political stability by evaluating key institutional elements of its system, including government leadership in its semipresidential structure, the relatively high electoral system disproportionality, and party system dynamics. In addition, it delves into the underlying and less stable elements beneath the surface, particularly evident at the party system level since the mid-2010s.
