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Observations on Economic Policy in Post-Revolution Nicaragua

In: Studies in Globalization and Economic Transitions

Author

Listed:
  • Keith Griffin

    (University of California)

Abstract

The Sandinista revolution of 1979 transformed the polity and economy of Nicaragua. Dictatorship was replaced by a more democratic and participatory political system and the ‘repressive agro-export model’ of development of the previous three decades (Barraclough, 1982) was replaced by a model based on socialist principles. No one concerned with justice, equality or the alleviation of poverty should weep over the passing of the Somoza regime. The Nicaraguan version of an agro-export model of development resulted in peasants being forced off the land and an increasing proportion of the cultivated area being held by large estates. The process of polarization went so far that by 1970 it is estimated that the poorest 50 per cent of the population consumed less than 1800 calories per capita per day. Growth did indeed occur, at least between 1950 and the early 1970s, and rates of investment were in general quite high, but the growth that occurred was accompanied by impoverishment and increased inequality.

Suggested Citation

  • Keith Griffin, 1996. "Observations on Economic Policy in Post-Revolution Nicaragua," Palgrave Macmillan Books, in: Studies in Globalization and Economic Transitions, chapter 9, pages 215-227, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37213-9_9
    DOI: 10.1057/9780230372139_9
    as

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