What Drives Growth Transitions in India? Evidence from a Markov Switching Analysis of Regime Dynamics on in India
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This work examines growth transitions in India as cyclical regime shifts, employing a Markov switching framework to identify three growth regimes - recessionary, moderate, and high growth during 1951-2022. It further examines the influence of domestic, external, and policy variables on regime-specific growth and transition probabilities.



