The developmentalism of the Somoza era (over 40 years of repressive government) was "part of a comprehensive strategy" by the U.S. to: a) keep the Somoza family in power; b) to ward off influences by Cuba and the U.S.S.R.; and c) create "internationally backed institutions" like the "Nicaraguan Investment Corporation" (Cervantes-Rodriguez, 200).

Meanwhile, another updated view reflects that today a few Latin America nations are emerging from "traditional agrarian to an urban industrial economy" (Riesco, 2009, p. S22) -- but other Latin American countries are just "taking early steps," Riesco explains. There have been two distinct development strategies employed in Latin America, including "state developmentalism" in the period between the 1920s roughly to the 1980s, which Riesco explains has been successful in terms of meeting economic and social progress (S22).

And in the last few decades several Latin American countries adopted what Riesco refers to as "the Washington consensus" which...
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