Neoliberal reforms under Fujimori took place in three distinct phases: an initial "orthodox" phase (1990–92) in which technocrats dominated the reform agenda; a "pragmatic" phase (1993–98) that saw the growing influence of business elites over government priorities; and a final "watered-down" phase (1999–2000) dominated by a clique of personal loyalists and their clientelist policies that aimed to secure Fujimori a third term as president. Business was a big winner of the reforms, with its influence increasing significantly within both the state and society.