MONITORING STRUCTURAL CHANGES IN NER: -An Empirical Analysis of Mizoram
DOI:
https://doi.org/10.1956/jge.v10i4.377Keywords:
Breakdates, BIC, OLS-CUSUM test, Acceleration.Abstract
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ABSTRACT:
This paper adopts a recent development in the estimation and testing of multiple structural breaks in linear growth model to identify the phases of economic growth in Mizoram since 1980. Breakdates and growth rates of different phases are estimated using the recent developed methodology of Bai and Perron(2003). It is evident from the estimation that most of the breakdates lie mainly in 1984-85, 1992-93, and 1998-99. From the estimation, it is further noticed that GSDP (Gross State Domestic Product) of Mizoram has two breakdates 1984-85 and 1990-91. Corresponding to these breakdates there are three different growth phases are also noticed. During 1980/81-1984/85, the first phase of growth, the economy grows at 11.7% which is declining to 6.55% during 1984/85-1990/91, the second phase and slightly increases the annual growth rate to 6.8% during 190/91-2008/09, the third phase.
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