Can under-watering cause exaggerated spurts of growth?

I believe that if you neglect to water seedlings they can put out spurts of stem growth, as animals who are underfed will temporarily seem to fatten as their fat reserves go into over-drive, leading to eventual loss of weight. In the case of seedlings protracted neglect will lead to collapse.

But what happens with mature plants? Is it the same scenario?

 

Not noticed it, they just wilt.

Underwatering often leads to bolting though. Plant thinks its dying so tries to reproduce as quick as it can.