Las dinámicas empresariales del crecimiento económico de Madrid (1886-1935)

This paper analyses the composition and evolution of Madrid´s business structure between 1886 and 1935, a time of growth and modernisation whose business scope and uniqueness remains unknown. Using the Madrid Mercantile Registry, we reveal the profile of the companies in this period, key to the configuration of the Spanish capitalism. Our conclusions show that Madrid's transformation was supported by an early diffusion of the stock company, a remarkable business diversification, and the progress of medium-sized enterprises. All these dynamics accelerated after the First World War, which had a positive, more intense, and lasting impact on business development in Madrid than in the rest of Spain.