Grupos empresariales, marco institucional y desarrollo económico en España en el siglo XX: los negocios de la familia Aznar (c. 1937-c. 1983)

This article shows the first results of a research project that attempts to analyse the relations between the business groups, the institutional framework and the economic development in 20th century Spain. It employs a microeconomic perspective, a historical-institutional analysis and private archival sources. The article focuses on the businesses of the Aznar family from 1937 (when they took over the management of the firms that formerly belonged to the Sota and Aznar group) to 1983 (when Naviera Aznar, the most important firm of the group, broke out and ceased business). Out of this empirical evidence, the article tries to underline the consequences that an industrial organization based on business groups and on an institutional framework characterized by the State's extreme interventionism and discretionality had on the capabilities and the competitiveness of Spanish firms and industries, and, by extension, on the economic development of Spain during the Franco's regime and the first Governments of the transition to democracy.