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Since the end of the 19th century, Argentina business elite has been led by foreign companies and economic groups in the most dynamic and profitable economic activities. During the first and second global periods, the leading companies developed the production and export of raw materials to developed nations. The business elite also included family businesses that produced consumer goods for the domestic market from the First World War on. Family firms expanded during the State- led industrialization period but their share on the top firms began to drop in the 1960s when a new wave of foreign direct investment entered to Argentina.
Based on the analysis of the 200 largest firms in the Argentine economy, we propose to evaluate the sectoral structure and the transformations of the Argentine business elite in the long term. We analyze the participation of national companies, business groups and foreign companies in the top 200 firms and the impact of macroeconomic policies at each period. Finally, we identify the main characteristics of the relationship between large companies and Argentinian economic development in the long term.