Creative Destruction of Industries: Yokohama City in the Great Kanto Earthquake, 1923

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Creative Destruction of Industries: Yokohama City in the Great Kanto Earthquake, 1923. / Okazaki, Tetsuji; Okubo, Toshihiro; Strobl, Eric.

In: The Journal of Economic History, Vol. 79, No. 1, 03.2019, p. 1-31.

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@article{e3565586411540ffb4317947fb5ffd5f,
title = "Creative Destruction of Industries: Yokohama City in the Great Kanto Earthquake, 1923",
abstract = "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. ",
author = "Tetsuji Okazaki and Toshihiro Okubo and Eric Strobl",
year = "2019",
month = mar,
doi = "10.1017/S0022050718000748",
language = "English",
volume = "79",
pages = "1--31",
journal = "The Journal of Economic History",
issn = "0022-0507",
publisher = "Cambridge University Press",
number = "1",

}

RIS

TY - JOUR

T1 - Creative Destruction of Industries: Yokohama City in the Great Kanto Earthquake, 1923

AU - Okazaki, Tetsuji

AU - Okubo, Toshihiro

AU - Strobl, Eric

PY - 2019/3

Y1 - 2019/3

N2 - 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.

AB - 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.

UR - http://www.scopus.com/inward/record.url?scp=85062996977&partnerID=8YFLogxK

U2 - 10.1017/S0022050718000748

DO - 10.1017/S0022050718000748

M3 - Article

VL - 79

SP - 1

EP - 31

JO - The Journal of Economic History

JF - The Journal of Economic History

SN - 0022-0507

IS - 1

ER -