Jump to ContentJump to Main Navigation
Business Groups in the WestOrigins, Evolution, and Resilience$
Users without a subscription are not able to see the full content.

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

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 September 2019

Canada

Canada

The Rise and Fall, and Rise and Fall Again

Chapter:
(p.458) Chapter 17 Canada
Source:
Business Groups in the West
Author(s):

Randall Morck

Gloria Y. Tian

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198717973.003.0017

Family-controlled pyramidal business groups were important in Canada early in the twentieth century, amid rapid catch-up industrialization, but largely gave way to widely held freestanding firms by mid-century. In the 1970s and early 1980s—an era of high inflation, financial reversal, unprecedented state intervention, and explicit emulation of continental European institutions—pyramidal groups abruptly regained prominence. The largest of these were politically well-connected and highly leveraged. The two largest collapsed in the early 1990s in a recession characterized by very high real interest rates. The smaller groups that survived were more vertically integrated and less diversified at the time. Widely held freestanding firms and Anglo-Saxon concepts of the role of the state soon regained predominance.

Keywords:   Canada, industrial policy, political rent, economic history, business groups, oligarchs, legal origin, family business, diffuse ownership, leverage

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .