I'm going to assume that you're speaking of monarchies in which the monarch is the actual ruler, rather than UK, Belgium, the Netherlands or Canada for instance, right?
In that case, I'd say that a monarchy is essentially dictatorship + a (usually) clear line of succession.
There's a little fear in France, because the head of the far right party is the daughter of the former head, and the aunt of the rising star. Since that party seems not unlikely to win the next Presidential elections, we might end up with a monarchy in France.
