Liberalization, Growth and Regional Disparities in India by Madhusudan Ghosh

Author:Madhusudan Ghosh
Language: eng
Format: epub
Publisher: Springer India, India

2. Downward shift in level but upward shift in slope: The immediate net effect would be negative, as the difference between the post-shift and the pre-shift trend levels of output would be negative. However, the gap between the two would be narrowed down, and the net effect would turn out to be positive and increasing over time after some years following the break. Thus, the net effect of the shift would be positive after a lag. This situation is indicated by PL.

3. Upward shift in level but downward shift in slope: The immediate net effect would be positive, since the post-shift trend level of output would be higher than the pre-shift one. However, the gap between the two would come down, and the net effect would turn out to be negative after some years of the break. Thus, the net effect of the shift would be negative after a lag (indicated by NL).

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