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Business Groups in the WestOrigins, Evolution, and Resilience$
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Asli M. Colpan and Takashi Hikino

Print publication date: 2018

Print ISBN-13: 9780198717973

Published to Oxford Scholarship Online: April 2018

DOI: 10.1093/oso/9780198717973.001.0001

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Tradition and Renewal

(p.245) Chapter 10 Sweden
Business Groups in the West

Mats Larsson

Tom Petersson

Oxford University Press

This chapter analyzes the prevalence of business groups in Sweden. The Swedish economy has since the early twentieth century been dominated by a rather small number of large and internationally oriented companies. The relations between banks and industry have been important in understanding the long-term growth of the Swedish economy. Two business groups—the Wallenberg group and the Handelsbanken group—stand out as especially resilient and dynamic. The Wallenberg and Handelsbanken groups have both developed into diversified business groups with a commercial bank in the center of each. The successful Swedish business groups have also to some extent been dependent on indirect support from the Swedish state, allowing the large groups to maintain their dominant position.

Keywords:   business groups, Sweden, big business, Wallenberg group, Handelsbanken group, bank–industry relations, bank-oriented financial system

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