Creative Destruction of Industries: Yokohama City in the Great Kanto Earthquake, 1923
利用关东大地震前后横滨市工厂的资本（电机马力）数据，研究发现地震造成了大量工厂损毁，但随后出现了机器技术升级和高效企业存续的创造性破坏现象。
The Great Kanto Earthquake occurred on 1 September 1923 and inflicted serious damage on Yokohama City. About 90 percent of the factories in Yokohama City were burnt down or completely destroyed. However, these manufacturing industries appear to have swiftly recovered in the aftermath of the damage. This article investigates the role of creative destruction due to the Great Kanto Earthquake. Using firm-level data on capital (horsepower of motors) before and after the earthquake, we find substantial creative destruction, that is, upgrade of machine technology and/or survival of efficient firms. We find further collaborating evidence of this at the prefecture level.