id	sid	tid	token	lemma	pos
aeasj-261	1	1	copyright	copyright	NOUN
aeasj-261	1	2	©	©	PROPN
aeasj-261	1	3	cc	cc	PROPN
aeasj-261	1	4	-	-	PUNCT
aeasj-261	1	5	by	by	ADP
aeasj-261	1	6	-	-	PUNCT
aeasj-261	1	7	nc	nc	PROPN
aeasj-261	1	8	2019	2019	NUM
aeasj-261	1	9	,	,	PUNCT
aeasj-261	1	10	cribfb	cribfb	VERB
aeasj-261	1	11	|	|	ADV
aeasj-261	1	12	aesr	aesr	VERB
aeasj-261	1	13	american	american	PROPN
aeasj-261	1	14	economic	economic	PROPN
aeasj-261	1	15	&	&	CCONJ
aeasj-261	1	16	social	social	PROPN
aeasj-261	1	17	review	review	NOUN
aeasj-261	1	18	;	;	PUNCT
aeasj-261	1	19	vol	vol	NOUN
aeasj-261	1	20	.	.	PROPN
aeasj-261	1	21	5	5	NUM
aeasj-261	1	22	,	,	PUNCT
aeasj-261	1	23	no	no	INTJ
aeasj-261	1	24	.	.	NOUN
aeasj-261	1	25	1	1	NUM
aeasj-261	1	26	;	;	PUNCT
aeasj-261	1	27	2019	2019	NUM
aeasj-261	1	28	issn	issn	VERB
aeasj-261	1	29	2576	2576	NUM
aeasj-261	1	30	-	-	SYM
aeasj-261	1	31	1269	1269	NUM
aeasj-261	1	32	e	e	NOUN
aeasj-261	1	33	-	-	NOUN
aeasj-261	1	34	issn	issn	VERB
aeasj-261	1	35	2576	2576	NUM
aeasj-261	1	36	-	-	SYM
aeasj-261	1	37	1277	1277	NUM
aeasj-261	1	38	research	research	NOUN
aeasj-261	1	39	article	article	NOUN
aeasj-261	1	40	published	publish	VERB
aeasj-261	1	41	by	by	ADP
aeasj-261	1	42	centre	centre	NOUN
aeasj-261	1	43	for	for	ADP
aeasj-261	1	44	research	research	NOUN
aeasj-261	1	45	on	on	ADP
aeasj-261	1	46	islamic	islamic	ADJ
aeasj-261	1	47	banking	banking	PROPN
aeasj-261	1	48	&	&	CCONJ
aeasj-261	1	49	finance	finance	PROPN
aeasj-261	1	50	and	and	CCONJ
aeasj-261	1	51	business	business	NOUN
aeasj-261	1	52	,	,	PUNCT
aeasj-261	1	53	usa	usa	PROPN
aeasj-261	1	54	33	33	NUM
aeasj-261	1	55	financial	financial	ADJ
aeasj-261	1	56	structure	structure	NOUN
aeasj-261	1	57	and	and	CCONJ
aeasj-261	1	58	economic	economic	ADJ
aeasj-261	1	59	growth	growth	NOUN
aeasj-261	1	60	:	:	PUNCT
aeasj-261	1	61	the	the	DET
aeasj-261	1	62	nigerian	nigerian	ADJ
aeasj-261	1	63	experience	experience	NOUN
aeasj-261	1	64	,	,	PUNCT
aeasj-261	1	65	1980	1980	NUM
aeasj-261	1	66	-	-	SYM
aeasj-261	1	67	2017	2017	NUM
aeasj-261	1	68	emeka	emeka	NOUN
aeasj-261	1	69	nkoro	nkoro	PROPN
aeasj-261	1	70	phd	phd	PROPN
aeasj-261	1	71	department	department	PROPN
aeasj-261	1	72	of	of	ADP
aeasj-261	1	73	economics	economics	PROPN
aeasj-261	1	74	university	university	PROPN
aeasj-261	1	75	of	of	ADP
aeasj-261	1	76	port	port	PROPN
aeasj-261	1	77	harcourt	harcourt	PROPN
aeasj-261	1	78	nigeria	nigeria	PROPN
aeasj-261	2	1	e	e	PROPN
aeasj-261	2	2	-	-	NOUN
aeasj-261	2	3	mail	mail	NOUN
aeasj-261	2	4	:	:	PUNCT
aeasj-261	2	5	nkoro23@yahoo.co.uk	nkoro23@yahoo.co.uk	PROPN
aeasj-261	2	6	aham	aham	PROPN
aeasj-261	2	7	kelvin	kelvin	PROPN
aeasj-261	2	8	uko	uko	PROPN
aeasj-261	2	9	phd	phd	PROPN
aeasj-261	2	10	ministry	ministry	PROPN
aeasj-261	2	11	of	of	ADP
aeasj-261	2	12	environment	environment	PROPN
aeasj-261	2	13	,	,	PUNCT
aeasj-261	2	14	abia	abia	PROPN
aeasj-261	2	15	state	state	PROPN
aeasj-261	2	16	nigeria	nigeria	PROPN
aeasj-261	2	17	abstract	abstract	ADV
aeasj-261	2	18	this	this	DET
aeasj-261	2	19	study	study	NOUN
aeasj-261	2	20	investigated	investigate	VERB
aeasj-261	2	21	the	the	DET
aeasj-261	2	22	role	role	NOUN
aeasj-261	2	23	of	of	ADP
aeasj-261	2	24	financial	financial	ADJ
aeasj-261	2	25	structure	structure	NOUN
aeasj-261	2	26	in	in	ADP
aeasj-261	2	27	explaining	explain	VERB
aeasj-261	2	28	economic	economic	ADJ
aeasj-261	2	29	growth	growth	NOUN
aeasj-261	2	30	dynamics	dynamic	NOUN
aeasj-261	2	31	in	in	ADP
aeasj-261	2	32	nigeria	nigeria	PROPN
aeasj-261	2	33	using	use	VERB
aeasj-261	2	34	annual	annual	ADJ
aeasj-261	2	35	time	time	NOUN
aeasj-261	2	36	series	series	NOUN
aeasj-261	2	37	from	from	ADP
aeasj-261	2	38	1981	1981	NUM
aeasj-261	2	39	-	-	SYM
aeasj-261	2	40	2017	2017	NUM
aeasj-261	2	41	.	.	PUNCT
aeasj-261	3	1	the	the	DET
aeasj-261	3	2	study	study	NOUN
aeasj-261	3	3	employed	employ	VERB
aeasj-261	3	4	the	the	DET
aeasj-261	3	5	vector	vector	NOUN
aeasj-261	3	6	error	error	NOUN
aeasj-261	3	7	correction	correction	NOUN
aeasj-261	3	8	model	model	NOUN
aeasj-261	3	9	(	(	PUNCT
aeasj-261	3	10	vecm	vecm	NOUN
aeasj-261	3	11	)	)	PUNCT
aeasj-261	3	12	in	in	ADP
aeasj-261	3	13	the	the	DET
aeasj-261	3	14	analysis	analysis	NOUN
aeasj-261	3	15	of	of	ADP
aeasj-261	3	16	the	the	DET
aeasj-261	3	17	data	datum	NOUN
aeasj-261	3	18	.	.	PUNCT
aeasj-261	4	1	as	as	SCONJ
aeasj-261	4	2	lead	lead	VERB
aeasj-261	4	3	up	up	ADP
aeasj-261	4	4	to	to	ADP
aeasj-261	4	5	financial	financial	ADJ
aeasj-261	4	6	structure	structure	NOUN
aeasj-261	4	7	and	and	CCONJ
aeasj-261	4	8	economic	economic	ADJ
aeasj-261	4	9	growth	growth	NOUN
aeasj-261	4	10	relationship	relationship	NOUN
aeasj-261	4	11	analysis	analysis	NOUN
aeasj-261	4	12	,	,	PUNCT
aeasj-261	4	13	the	the	DET
aeasj-261	4	14	competing	compete	VERB
aeasj-261	4	15	theoretical	theoretical	ADJ
aeasj-261	4	16	views	view	NOUN
aeasj-261	4	17	of	of	ADP
aeasj-261	4	18	bank	bank	NOUN
aeasj-261	4	19	and	and	CCONJ
aeasj-261	4	20	market	market	NOUN
aeasj-261	4	21	based	base	VERB
aeasj-261	4	22	financial	financial	ADJ
aeasj-261	4	23	system	system	NOUN
aeasj-261	4	24	and	and	CCONJ
aeasj-261	4	25	economic	economic	ADJ
aeasj-261	4	26	growth	growth	NOUN
aeasj-261	4	27	were	be	AUX
aeasj-261	4	28	explored	explore	VERB
aeasj-261	4	29	.	.	PUNCT
aeasj-261	5	1	the	the	DET
aeasj-261	5	2	result	result	NOUN
aeasj-261	5	3	of	of	ADP
aeasj-261	5	4	the	the	DET
aeasj-261	5	5	study	study	NOUN
aeasj-261	5	6	showed	show	VERB
aeasj-261	5	7	that	that	SCONJ
aeasj-261	5	8	economic	economic	ADJ
aeasj-261	5	9	growth	growth	NOUN
aeasj-261	5	10	,	,	PUNCT
aeasj-261	5	11	financial	financial	ADJ
aeasj-261	5	12	development	development	NOUN
aeasj-261	5	13	variables	variable	NOUN
aeasj-261	5	14	and	and	CCONJ
aeasj-261	5	15	the	the	DET
aeasj-261	5	16	underlying	underlie	VERB
aeasj-261	5	17	control	control	NOUN
aeasj-261	5	18	variables	variable	NOUN
aeasj-261	5	19	are	be	AUX
aeasj-261	5	20	cointegrated	cointegrate	VERB
aeasj-261	5	21	.	.	PUNCT
aeasj-261	6	1	the	the	DET
aeasj-261	6	2	result	result	NOUN
aeasj-261	6	3	of	of	ADP
aeasj-261	6	4	the	the	DET
aeasj-261	6	5	economic	economic	ADJ
aeasj-261	6	6	growth	growth	NOUN
aeasj-261	6	7	effect	effect	NOUN
aeasj-261	6	8	of	of	ADP
aeasj-261	6	9	financial	financial	ADJ
aeasj-261	6	10	development	development	NOUN
aeasj-261	6	11	showed	show	VERB
aeasj-261	6	12	that	that	SCONJ
aeasj-261	6	13	stock	stock	NOUN
aeasj-261	6	14	market	market	NOUN
aeasj-261	6	15	and	and	CCONJ
aeasj-261	6	16	bankbased	bankbase	VERB
aeasj-261	6	17	have	have	VERB
aeasj-261	6	18	a	a	DET
aeasj-261	6	19	significant	significant	ADJ
aeasj-261	6	20	effect	effect	NOUN
aeasj-261	6	21	on	on	ADP
aeasj-261	6	22	growth	growth	NOUN
aeasj-261	6	23	.	.	PUNCT
aeasj-261	7	1	this	this	PRON
aeasj-261	7	2	implies	imply	VERB
aeasj-261	7	3	that	that	SCONJ
aeasj-261	7	4	both	both	PRON
aeasj-261	7	5	bank	bank	NOUN
aeasj-261	7	6	-	-	PUNCT
aeasj-261	7	7	based	base	VERB
aeasj-261	7	8	and	and	CCONJ
aeasj-261	7	9	market	market	NOUN
aeasj-261	7	10	-	-	PUNCT
aeasj-261	7	11	based	base	VERB
aeasj-261	7	12	matter	matter	NOUN
aeasj-261	7	13	in	in	ADP
aeasj-261	7	14	explaining	explain	VERB
aeasj-261	7	15	economic	economic	ADJ
aeasj-261	7	16	growth	growth	NOUN
aeasj-261	7	17	dynamics	dynamic	NOUN
aeasj-261	7	18	.	.	PUNCT
aeasj-261	8	1	on	on	ADP
aeasj-261	8	2	the	the	DET
aeasj-261	8	3	relationship	relationship	NOUN
aeasj-261	8	4	between	between	ADP
aeasj-261	8	5	financial	financial	ADJ
aeasj-261	8	6	structure	structure	NOUN
aeasj-261	8	7	and	and	CCONJ
aeasj-261	8	8	economic	economic	ADJ
aeasj-261	8	9	growth	growth	NOUN
aeasj-261	8	10	,	,	PUNCT
aeasj-261	8	11	the	the	DET
aeasj-261	8	12	study	study	NOUN
aeasj-261	8	13	revealed	reveal	VERB
aeasj-261	8	14	that	that	SCONJ
aeasj-261	8	15	economic	economic	ADJ
aeasj-261	8	16	growth	growth	NOUN
aeasj-261	8	17	,	,	PUNCT
aeasj-261	8	18	financial	financial	ADJ
aeasj-261	8	19	structure	structure	NOUN
aeasj-261	8	20	and	and	CCONJ
aeasj-261	8	21	the	the	DET
aeasj-261	8	22	underlying	underlie	VERB
aeasj-261	8	23	control	control	NOUN
aeasj-261	8	24	variables	variable	NOUN
aeasj-261	8	25	have	have	VERB
aeasj-261	8	26	a	a	DET
aeasj-261	8	27	long	long	ADJ
aeasj-261	8	28	run	run	NOUN
aeasj-261	8	29	relationship	relationship	NOUN
aeasj-261	8	30	.	.	PUNCT
aeasj-261	9	1	the	the	DET
aeasj-261	9	2	study	study	NOUN
aeasj-261	9	3	also	also	ADV
aeasj-261	9	4	revealed	reveal	VERB
aeasj-261	9	5	that	that	SCONJ
aeasj-261	9	6	financial	financial	ADJ
aeasj-261	9	7	structure	structure	NOUN
aeasj-261	9	8	which	which	PRON
aeasj-261	9	9	captures	capture	VERB
aeasj-261	9	10	the	the	DET
aeasj-261	9	11	combination	combination	NOUN
aeasj-261	9	12	of	of	ADP
aeasj-261	9	13	stock	stock	NOUN
aeasj-261	9	14	market	market	NOUN
aeasj-261	9	15	-	-	PUNCT
aeasj-261	9	16	based	base	VERB
aeasj-261	9	17	and	and	CCONJ
aeasj-261	9	18	bankbased	bankbase	VERB
aeasj-261	9	19	has	have	VERB
aeasj-261	9	20	a	a	DET
aeasj-261	9	21	positive	positive	ADJ
aeasj-261	9	22	significant	significant	ADJ
aeasj-261	9	23	effect	effect	NOUN
aeasj-261	9	24	on	on	ADP
aeasj-261	9	25	growth	growth	NOUN
aeasj-261	9	26	.	.	PUNCT
aeasj-261	10	1	a	a	DET
aeasj-261	10	2	significant	significant	ADJ
aeasj-261	10	3	coefficient	coefficient	NOUN
aeasj-261	10	4	of	of	ADP
aeasj-261	10	5	financial	financial	ADJ
aeasj-261	10	6	structure	structure	NOUN
aeasj-261	10	7	implies	imply	VERB
aeasj-261	10	8	that	that	SCONJ
aeasj-261	10	9	financial	financial	ADJ
aeasj-261	10	10	structure	structure	NOUN
aeasj-261	10	11	matters	matter	VERB
aeasj-261	10	12	in	in	ADP
aeasj-261	10	13	explaining	explain	VERB
aeasj-261	10	14	growth	growth	NOUN
aeasj-261	10	15	.	.	PUNCT
aeasj-261	11	1	therefore	therefore	ADV
aeasj-261	11	2	,	,	PUNCT
aeasj-261	11	3	the	the	DET
aeasj-261	11	4	study	study	NOUN
aeasj-261	11	5	posits	posit	VERB
aeasj-261	11	6	that	that	SCONJ
aeasj-261	11	7	the	the	DET
aeasj-261	11	8	overall	overall	ADJ
aeasj-261	11	9	financial	financial	ADJ
aeasj-261	11	10	structure	structure	NOUN
aeasj-261	11	11	is	be	AUX
aeasj-261	11	12	the	the	DET
aeasj-261	11	13	most	most	ADV
aeasj-261	11	14	useful	useful	ADJ
aeasj-261	11	15	way	way	NOUN
aeasj-261	11	16	to	to	PART
aeasj-261	11	17	assess	assess	VERB
aeasj-261	11	18	the	the	DET
aeasj-261	11	19	financial	financial	ADJ
aeasj-261	11	20	systems	system	NOUN
aeasj-261	11	21	since	since	SCONJ
aeasj-261	11	22	both	both	CCONJ
aeasj-261	11	23	bank	bank	NOUN
aeasj-261	11	24	and	and	CCONJ
aeasj-261	11	25	stock	stock	NOUN
aeasj-261	11	26	market	market	NOUN
aeasj-261	11	27	system	system	NOUN
aeasj-261	11	28	matter	matter	NOUN
aeasj-261	11	29	in	in	ADP
aeasj-261	11	30	explaining	explain	VERB
aeasj-261	11	31	economic	economic	ADJ
aeasj-261	11	32	growth	growth	NOUN
aeasj-261	11	33	as	as	ADP
aeasj-261	11	34	against	against	ADP
aeasj-261	11	35	bank	bank	NOUN
aeasj-261	11	36	-	-	PUNCT
aeasj-261	11	37	based	base	VERB
aeasj-261	11	38	versus	versus	ADP
aeasj-261	11	39	market	market	NOUN
aeasj-261	11	40	-	-	PUNCT
aeasj-261	11	41	based	base	VERB
aeasj-261	11	42	debate	debate	NOUN
aeasj-261	11	43	.	.	PUNCT
aeasj-261	12	1	based	base	VERB
aeasj-261	12	2	on	on	ADP
aeasj-261	12	3	the	the	DET
aeasj-261	12	4	empirical	empirical	ADJ
aeasj-261	12	5	evidence	evidence	NOUN
aeasj-261	12	6	,	,	PUNCT
aeasj-261	12	7	the	the	DET
aeasj-261	12	8	study	study	NOUN
aeasj-261	12	9	therefore	therefore	ADV
aeasj-261	12	10	recommends	recommend	VERB
aeasj-261	12	11	that	that	SCONJ
aeasj-261	12	12	there	there	PRON
aeasj-261	12	13	should	should	AUX
aeasj-261	12	14	be	be	AUX
aeasj-261	12	15	continuous	continuous	ADJ
aeasj-261	12	16	holistic	holistic	ADJ
aeasj-261	12	17	reforms	reform	NOUN
aeasj-261	12	18	of	of	ADP
aeasj-261	12	19	both	both	DET
aeasj-261	12	20	banking	banking	NOUN
aeasj-261	12	21	and	and	CCONJ
aeasj-261	12	22	stock	stock	NOUN
aeasj-261	12	23	market	market	NOUN
aeasj-261	12	24	simultaneously	simultaneously	ADV
aeasj-261	12	25	,	,	PUNCT
aeasj-261	12	26	as	as	SCONJ
aeasj-261	12	27	the	the	DET
aeasj-261	12	28	development	development	NOUN
aeasj-261	12	29	in	in	ADP
aeasj-261	12	30	one	one	NUM
aeasj-261	12	31	sector	sector	NOUN
aeasj-261	12	32	has	have	VERB
aeasj-261	12	33	a	a	DET
aeasj-261	12	34	neglect	neglect	ADJ
aeasj-261	12	35	effect	effect	NOUN
aeasj-261	12	36	on	on	ADP
aeasj-261	12	37	the	the	DET
aeasj-261	12	38	other	other	ADJ
aeasj-261	12	39	.	.	PUNCT
aeasj-261	13	1	keywords	keyword	NOUN
aeasj-261	13	2	:	:	PUNCT
aeasj-261	13	3	stock	stock	NOUN
aeasj-261	13	4	market	market	NOUN
aeasj-261	13	5	,	,	PUNCT
aeasj-261	13	6	financial	financial	ADJ
aeasj-261	13	7	market	market	NOUN
aeasj-261	13	8	,	,	PUNCT
aeasj-261	13	9	financial	financial	ADJ
aeasj-261	13	10	structure	structure	NOUN
aeasj-261	13	11	,	,	PUNCT
aeasj-261	13	12	economic	economic	ADJ
aeasj-261	13	13	growth	growth	NOUN
aeasj-261	13	14	,	,	PUNCT
aeasj-261	13	15	vector	vector	NOUN
aeasj-261	13	16	error	error	NOUN
aeasj-261	13	17	correction	correction	NOUN
aeasj-261	13	18	model	model	NOUN
aeasj-261	13	19	.	.	PUNCT
aeasj-261	14	1	1	1	X
aeasj-261	14	2	.	.	X
aeasj-261	14	3	introduction	introduction	NOUN
aeasj-261	14	4	historically	historically	ADV
aeasj-261	14	5	,	,	PUNCT
aeasj-261	14	6	there	there	PRON
aeasj-261	14	7	has	have	AUX
aeasj-261	14	8	been	be	AUX
aeasj-261	14	9	debate	debate	NOUN
aeasj-261	14	10	among	among	ADP
aeasj-261	14	11	scholars	scholar	NOUN
aeasj-261	14	12	over	over	ADP
aeasj-261	14	13	the	the	DET
aeasj-261	14	14	role	role	NOUN
aeasj-261	14	15	of	of	ADP
aeasj-261	14	16	the	the	DET
aeasj-261	14	17	structure	structure	NOUN
aeasj-261	14	18	of	of	ADP
aeasj-261	14	19	the	the	DET
aeasj-261	14	20	financial	financial	ADJ
aeasj-261	14	21	systems	system	NOUN
aeasj-261	14	22	to	to	ADP
aeasj-261	14	23	economic	economic	ADJ
aeasj-261	14	24	growth	growth	NOUN
aeasj-261	14	25	.	.	PUNCT
aeasj-261	15	1	specifically	specifically	ADV
aeasj-261	15	2	,	,	PUNCT
aeasj-261	15	3	the	the	DET
aeasj-261	15	4	debate	debate	NOUN
aeasj-261	15	5	is	be	AUX
aeasj-261	15	6	about	about	ADP
aeasj-261	15	7	the	the	DET
aeasj-261	15	8	relative	relative	ADJ
aeasj-261	15	9	importance	importance	NOUN
aeasj-261	15	10	of	of	ADP
aeasj-261	15	11	bank	bank	NOUN
aeasj-261	15	12	-	-	PUNCT
aeasj-261	15	13	based	base	VERB
aeasj-261	15	14	and	and	CCONJ
aeasj-261	15	15	market	market	NOUN
aeasj-261	15	16	-	-	PUNCT
aeasj-261	15	17	based	base	VERB
aeasj-261	15	18	financial	financial	ADJ
aeasj-261	15	19	systems	system	NOUN
aeasj-261	15	20	in	in	ADP
aeasj-261	15	21	stimulating	stimulate	VERB
aeasj-261	15	22	economic	economic	ADJ
aeasj-261	15	23	growth	growth	NOUN
aeasj-261	15	24	(	(	PUNCT
aeasj-261	15	25	gerschenkron	gerschenkron	NOUN
aeasj-261	15	26	,	,	PUNCT
aeasj-261	15	27	1962	1962	NUM
aeasj-261	15	28	,	,	PUNCT
aeasj-261	15	29	stiglitz	stiglitz	PROPN
aeasj-261	15	30	,	,	PUNCT
aeasj-261	15	31	1985	1985	NUM
aeasj-261	15	32	,	,	PUNCT
aeasj-261	15	33	allen	allen	NOUN
aeasj-261	15	34	and	and	CCONJ
aeasj-261	15	35	gale	gale	PROPN
aeasj-261	15	36	,	,	PUNCT
aeasj-261	15	37	1999	1999	NUM
aeasj-261	15	38	and	and	CCONJ
aeasj-261	15	39	,	,	PUNCT
aeasj-261	15	40	levine	levine	PROPN
aeasj-261	15	41	,	,	PUNCT
aeasj-261	15	42	2002	2002	NUM
aeasj-261	15	43	)	)	PUNCT
aeasj-261	15	44	.	.	PUNCT
aeasj-261	16	1	empirical	empirical	ADJ
aeasj-261	16	2	studies	study	NOUN
aeasj-261	16	3	(	(	PUNCT
aeasj-261	16	4	hoshi	hoshi	PROPN
aeasj-261	16	5	et	et	PROPN
aeasj-261	16	6	al	al	PROPN
aeasj-261	16	7	,	,	PUNCT
aeasj-261	16	8	1991	1991	NUM
aeasj-261	16	9	,	,	PUNCT
aeasj-261	16	10	mork	mork	NOUN
aeasj-261	16	11	and	and	CCONJ
aeasj-261	16	12	nakkamura	nakkamura	NOUN
aeasj-261	16	13	,	,	PUNCT
aeasj-261	16	14	1999	1999	NUM
aeasj-261	16	15	,	,	PUNCT
aeasj-261	16	16	weinstein	weinstein	NOUN
aeasj-261	16	17	and	and	CCONJ
aeasj-261	16	18	yafeh	yafeh	NOUN
aeasj-261	16	19	,	,	PUNCT
aeasj-261	16	20	1998	1998	NUM
aeasj-261	16	21	and	and	CCONJ
aeasj-261	16	22	,	,	PUNCT
aeasj-261	16	23	arestis	arestis	PROPN
aeasj-261	16	24	et	et	PROPN
aeasj-261	16	25	al	al	PROPN
aeasj-261	16	26	.	.	PROPN
aeasj-261	16	27	,	,	PUNCT
aeasj-261	16	28	2001	2001	NUM
aeasj-261	16	29	)	)	PUNCT
aeasj-261	16	30	from	from	ADP
aeasj-261	16	31	developed	develop	VERB
aeasj-261	16	32	economies	economy	NOUN
aeasj-261	16	33	of	of	ADP
aeasj-261	16	34	the	the	DET
aeasj-261	16	35	worldthe	worldthe	PROPN
aeasj-261	16	36	united	united	PROPN
aeasj-261	16	37	states	states	PROPN
aeasj-261	16	38	of	of	ADP
aeasj-261	16	39	america	america	PROPN
aeasj-261	16	40	and	and	CCONJ
aeasj-261	16	41	united	united	PROPN
aeasj-261	16	42	kingdom	kingdom	PROPN
aeasj-261	16	43	show	show	VERB
aeasj-261	16	44	that	that	SCONJ
aeasj-261	16	45	financial	financial	ADJ
aeasj-261	16	46	structure	structure	NOUN
aeasj-261	16	47	matters	matter	VERB
aeasj-261	16	48	in	in	ADP
aeasj-261	16	49	explaining	explain	VERB
aeasj-261	16	50	economic	economic	ADJ
aeasj-261	16	51	growth	growth	NOUN
aeasj-261	16	52	.	.	PUNCT
aeasj-261	17	1	the	the	DET
aeasj-261	17	2	united	united	PROPN
aeasj-261	17	3	states	states	PROPN
aeasj-261	17	4	of	of	ADP
aeasj-261	17	5	america	america	PROPN
aeasj-261	17	6	and	and	CCONJ
aeasj-261	17	7	united	united	PROPN
aeasj-261	17	8	kingdom	kingdom	PROPN
aeasj-261	17	9	are	be	AUX
aeasj-261	17	10	often	often	ADV
aeasj-261	17	11	portrayed	portray	VERB
aeasj-261	17	12	as	as	ADP
aeasj-261	17	13	market	market	NOUN
aeasj-261	17	14	-	-	PUNCT
aeasj-261	17	15	based	base	VERB
aeasj-261	17	16	economies	economy	NOUN
aeasj-261	17	17	while	while	SCONJ
aeasj-261	17	18	germany	germany	PROPN
aeasj-261	17	19	and	and	CCONJ
aeasj-261	17	20	japan	japan	PROPN
aeasj-261	17	21	are	be	AUX
aeasj-261	17	22	described	describe	VERB
aeasj-261	17	23	as	as	ADP
aeasj-261	17	24	bank	bank	NOUN
aeasj-261	17	25	-	-	PUNCT
aeasj-261	17	26	based	base	VERB
aeasj-261	17	27	economies	economy	NOUN
aeasj-261	17	28	.	.	PUNCT
aeasj-261	18	1	the	the	DET
aeasj-261	18	2	results	result	NOUN
aeasj-261	18	3	from	from	ADP
aeasj-261	18	4	the	the	DET
aeasj-261	18	5	developed	develop	VERB
aeasj-261	18	6	countries	country	NOUN
aeasj-261	18	7	never	never	ADV
aeasj-261	18	8	provided	provide	VERB
aeasj-261	18	9	a	a	DET
aeasj-261	18	10	realistic	realistic	ADJ
aeasj-261	18	11	reference	reference	NOUN
aeasj-261	18	12	point	point	NOUN
aeasj-261	18	13	for	for	ADP
aeasj-261	18	14	developing	develop	VERB
aeasj-261	18	15	countries	country	NOUN
aeasj-261	18	16	given	give	VERB
aeasj-261	18	17	the	the	DET
aeasj-261	18	18	critical	critical	ADJ
aeasj-261	18	19	issues	issue	NOUN
aeasj-261	18	20	of	of	ADP
aeasj-261	18	21	differences	difference	NOUN
aeasj-261	18	22	in	in	ADP
aeasj-261	18	23	development	development	NOUN
aeasj-261	18	24	and	and	CCONJ
aeasj-261	18	25	structure	structure	NOUN
aeasj-261	18	26	of	of	ADP
aeasj-261	18	27	both	both	DET
aeasj-261	18	28	economies	economy	NOUN
aeasj-261	18	29	.	.	PUNCT
aeasj-261	19	1	contrarily	contrarily	ADV
aeasj-261	19	2	,	,	PUNCT
aeasj-261	19	3	cross	cross	ADJ
aeasj-261	19	4	-	-	ADJ
aeasj-261	19	5	section	section	ADJ
aeasj-261	19	6	studies	study	NOUN
aeasj-261	19	7	revealed	reveal	VERB
aeasj-261	19	8	that	that	SCONJ
aeasj-261	19	9	financial	financial	ADJ
aeasj-261	19	10	structure	structure	NOUN
aeasj-261	19	11	is	be	AUX
aeasj-261	19	12	irrelevant	irrelevant	ADJ
aeasj-261	19	13	to	to	ADP
aeasj-261	19	14	economic	economic	ADJ
aeasj-261	19	15	growth	growth	NOUN
aeasj-261	19	16	.	.	PUNCT
aeasj-261	20	1	that	that	PRON
aeasj-261	20	2	is	is	ADV
aeasj-261	20	3	,	,	PUNCT
aeasj-261	20	4	neither	neither	CCONJ
aeasj-261	20	5	the	the	DET
aeasj-261	20	6	bank	bank	NOUN
aeasj-261	20	7	-	-	PUNCT
aeasj-261	20	8	based	base	VERB
aeasj-261	20	9	nor	nor	CCONJ
aeasj-261	20	10	the	the	DET
aeasj-261	20	11	marketbased	marketbase	VERB
aeasj-261	20	12	financial	financial	ADJ
aeasj-261	20	13	system	system	NOUN
aeasj-261	20	14	can	can	AUX
aeasj-261	20	15	explain	explain	VERB
aeasj-261	20	16	economic	economic	ADJ
aeasj-261	20	17	growth	growth	NOUN
aeasj-261	20	18	;	;	PUNCT
aeasj-261	20	19	rather	rather	ADV
aeasj-261	20	20	the	the	DET
aeasj-261	20	21	studies	study	NOUN
aeasj-261	20	22	opined	opine	VERB
aeasj-261	20	23	that	that	SCONJ
aeasj-261	20	24	it	it	PRON
aeasj-261	20	25	is	be	AUX
aeasj-261	20	26	the	the	DET
aeasj-261	20	27	overall	overall	ADJ
aeasj-261	20	28	provision	provision	NOUN
aeasj-261	20	29	of	of	ADP
aeasj-261	20	30	financial	financial	ADJ
aeasj-261	20	31	services	service	NOUN
aeasj-261	20	32	(	(	PUNCT
aeasj-261	20	33	combination	combination	NOUN
aeasj-261	20	34	of	of	ADP
aeasj-261	20	35	banks	bank	NOUN
aeasj-261	20	36	and	and	CCONJ
aeasj-261	20	37	financial	financial	ADJ
aeasj-261	20	38	markets	market	NOUN
aeasj-261	20	39	)	)	PUNCT
aeasj-261	20	40	that	that	PRON
aeasj-261	20	41	are	be	AUX
aeasj-261	20	42	important	important	ADJ
aeasj-261	20	43	(	(	PUNCT
aeasj-261	20	44	demirguc	demirguc	PROPN
aeasj-261	20	45	-	-	PUNCT
aeasj-261	20	46	kunt	kunt	PROPN
aeasj-261	20	47	and	and	CCONJ
aeasj-261	20	48	levine	levine	PROPN
aeasj-261	20	49	,	,	PUNCT
aeasj-261	20	50	1996	1996	NUM
aeasj-261	20	51	,	,	PUNCT
aeasj-261	20	52	levine	levine	PROPN
aeasj-261	20	53	,	,	PUNCT
aeasj-261	20	54	2003	2003	NUM
aeasj-261	20	55	and	and	CCONJ
aeasj-261	20	56	,	,	PUNCT
aeasj-261	20	57	beck	beck	PROPN
aeasj-261	20	58	and	and	CCONJ
aeasj-261	20	59	levine	levine	PROPN
aeasj-261	20	60	,	,	PUNCT
aeasj-261	20	61	2002	2002	NUM
aeasj-261	20	62	)	)	PUNCT
aeasj-261	20	63	.	.	PUNCT
aeasj-261	21	1	therefore	therefore	ADV
aeasj-261	21	2	,	,	PUNCT
aeasj-261	21	3	levine	levine	PROPN
aeasj-261	21	4	(	(	PUNCT
aeasj-261	21	5	2001	2001	NUM
aeasj-261	21	6	)	)	PUNCT
aeasj-261	21	7	was	be	AUX
aeasj-261	21	8	of	of	ADP
aeasj-261	21	9	the	the	DET
aeasj-261	21	10	view	view	NOUN
aeasj-261	21	11	that	that	SCONJ
aeasj-261	21	12	it	it	PRON
aeasj-261	21	13	may	may	AUX
aeasj-261	21	14	be	be	AUX
aeasj-261	21	15	better	well	ADJ
aeasj-261	21	16	to	to	PART
aeasj-261	21	17	think	think	VERB
aeasj-261	21	18	not	not	PART
aeasj-261	21	19	in	in	ADP
aeasj-261	21	20	terms	term	NOUN
aeasj-261	21	21	of	of	ADP
aeasj-261	21	22	banks	bank	NOUN
aeasj-261	21	23	versus	versus	ADP
aeasj-261	21	24	stock	stock	NOUN
aeasj-261	21	25	markets	market	NOUN
aeasj-261	21	26	but	but	CCONJ
aeasj-261	21	27	in	in	ADP
aeasj-261	21	28	terms	term	NOUN
aeasj-261	21	29	of	of	ADP
aeasj-261	21	30	banks	bank	NOUN
aeasj-261	21	31	and	and	CCONJ
aeasj-261	21	32	stock	stock	NOUN
aeasj-261	21	33	markets	market	NOUN
aeasj-261	21	34	.	.	PUNCT
aeasj-261	22	1	however	however	ADV
aeasj-261	22	2	,	,	PUNCT
aeasj-261	22	3	luintel	luintel	NOUN
aeasj-261	22	4	and	and	CCONJ
aeasj-261	22	5	khan	khan	PROPN
aeasj-261	22	6	(	(	PUNCT
aeasj-261	22	7	2002	2002	NUM
aeasj-261	22	8	)	)	PUNCT
aeasj-261	22	9	showed	show	VERB
aeasj-261	22	10	that	that	SCONJ
aeasj-261	22	11	panel	panel	NOUN
aeasj-261	22	12	estimates	estimate	NOUN
aeasj-261	22	13	often	often	ADV
aeasj-261	22	14	do	do	AUX
aeasj-261	22	15	not	not	PART
aeasj-261	22	16	correspond	correspond	VERB
aeasj-261	22	17	to	to	ADP
aeasj-261	22	18	country	country	NOUN
aeasj-261	22	19	-	-	PUNCT
aeasj-261	22	20	specific	specific	ADJ
aeasj-261	22	21	estimates	estimate	NOUN
aeasj-261	22	22	.	.	PUNCT
aeasj-261	23	1	this	this	PRON
aeasj-261	23	2	could	could	AUX
aeasj-261	23	3	be	be	AUX
aeasj-261	23	4	as	as	ADP
aeasj-261	23	5	a	a	DET
aeasj-261	23	6	result	result	NOUN
aeasj-261	23	7	of	of	ADP
aeasj-261	23	8	cross	cross	ADJ
aeasj-261	23	9	-	-	ADJ
aeasj-261	23	10	country	country	ADJ
aeasj-261	23	11	differences	difference	NOUN
aeasj-261	23	12	and	and	CCONJ
aeasj-261	23	13	,	,	PUNCT
aeasj-261	23	14	measurement	measurement	NOUN
aeasj-261	23	15	,	,	PUNCT
aeasj-261	23	16	statistical	statistical	ADJ
aeasj-261	23	17	,	,	PUNCT
aeasj-261	23	18	and	and	CCONJ
aeasj-261	23	19	conceptual	conceptual	ADJ
aeasj-261	23	20	problems	problem	NOUN
aeasj-261	23	21	.	.	PUNCT
aeasj-261	24	1	consequently	consequently	ADV
aeasj-261	24	2	,	,	PUNCT
aeasj-261	24	3	copyright	copyright	NOUN
aeasj-261	24	4	©	©	PROPN
aeasj-261	24	5	cc	cc	PROPN
aeasj-261	24	6	-	-	PUNCT
aeasj-261	24	7	by	by	ADP
aeasj-261	24	8	-	-	PUNCT
aeasj-261	24	9	nc	nc	PROPN
aeasj-261	24	10	2019	2019	NUM
aeasj-261	24	11	,	,	PUNCT
aeasj-261	24	12	cribfb	cribfb	PROPN
aeasj-261	24	13	|	|	ADV
aeasj-261	24	14	afbr	afbr	PROPN
aeasj-261	24	15	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	24	16	american	american	PROPN
aeasj-261	24	17	economic	economic	PROPN
aeasj-261	24	18	&	&	CCONJ
aeasj-261	24	19	social	social	PROPN
aeasj-261	24	20	review	review	PROPN
aeasj-261	24	21	vol	vol	NOUN
aeasj-261	24	22	.	.	PROPN
aeasj-261	25	1	5	5	NUM
aeasj-261	25	2	,	,	PUNCT
aeasj-261	25	3	no	no	INTJ
aeasj-261	25	4	.	.	NOUN
aeasj-261	25	5	1	1	NUM
aeasj-261	25	6	;	;	PUNCT
aeasj-261	25	7	2019	2019	NUM
aeasj-261	25	8	34	34	NUM
aeasj-261	25	9	generalizations	generalization	NOUN
aeasj-261	25	10	based	base	VERB
aeasj-261	25	11	on	on	ADP
aeasj-261	25	12	panel	panel	NOUN
aeasj-261	25	13	results	result	NOUN
aeasj-261	25	14	may	may	AUX
aeasj-261	25	15	also	also	ADV
aeasj-261	25	16	be	be	AUX
aeasj-261	25	17	misleading	mislead	VERB
aeasj-261	25	18	at	at	ADP
aeasj-261	25	19	country	country	NOUN
aeasj-261	25	20	level	level	NOUN
aeasj-261	25	21	;	;	PUNCT
aeasj-261	25	22	hence	hence	ADV
aeasj-261	25	23	the	the	DET
aeasj-261	25	24	relationship	relationship	NOUN
aeasj-261	25	25	between	between	ADP
aeasj-261	25	26	financial	financial	ADJ
aeasj-261	25	27	structure	structure	NOUN
aeasj-261	25	28	and	and	CCONJ
aeasj-261	25	29	economic	economic	ADJ
aeasj-261	25	30	growth	growth	NOUN
aeasj-261	25	31	remains	remain	VERB
aeasj-261	25	32	inconclusive	inconclusive	ADJ
aeasj-261	25	33	.	.	PUNCT
aeasj-261	26	1	these	these	DET
aeasj-261	26	2	conflicting	conflicting	ADJ
aeasj-261	26	3	results	result	NOUN
aeasj-261	26	4	call	call	VERB
aeasj-261	26	5	for	for	ADP
aeasj-261	26	6	country	country	NOUN
aeasj-261	26	7	-	-	PUNCT
aeasj-261	26	8	specific	specific	ADJ
aeasj-261	26	9	study	study	NOUN
aeasj-261	26	10	which	which	PRON
aeasj-261	26	11	is	be	AUX
aeasj-261	26	12	the	the	DET
aeasj-261	26	13	concern	concern	NOUN
aeasj-261	26	14	of	of	ADP
aeasj-261	26	15	this	this	DET
aeasj-261	26	16	study	study	NOUN
aeasj-261	26	17	.	.	PUNCT
aeasj-261	27	1	recently	recently	ADV
aeasj-261	27	2	,	,	PUNCT
aeasj-261	27	3	the	the	DET
aeasj-261	27	4	emergence	emergence	NOUN
aeasj-261	27	5	of	of	ADP
aeasj-261	27	6	global	global	ADJ
aeasj-261	27	7	financial	financial	ADJ
aeasj-261	27	8	crisis	crisis	NOUN
aeasj-261	27	9	has	have	AUX
aeasj-261	27	10	made	make	VERB
aeasj-261	27	11	developed	developed	ADJ
aeasj-261	27	12	and	and	CCONJ
aeasj-261	27	13	developing	develop	VERB
aeasj-261	27	14	economies	economy	NOUN
aeasj-261	27	15	to	to	PART
aeasj-261	27	16	shift	shift	VERB
aeasj-261	27	17	away	away	ADV
aeasj-261	27	18	from	from	ADP
aeasj-261	27	19	free	free	ADJ
aeasj-261	27	20	market	market	NOUN
aeasj-261	27	21	fundamentals	fundamental	NOUN
aeasj-261	27	22	to	to	ADP
aeasj-261	27	23	a	a	DET
aeasj-261	27	24	regulated	regulated	ADJ
aeasj-261	27	25	economic	economic	ADJ
aeasj-261	27	26	regime	regime	NOUN
aeasj-261	27	27	.	.	PUNCT
aeasj-261	28	1	as	as	ADP
aeasj-261	28	2	a	a	DET
aeasj-261	28	3	measure	measure	NOUN
aeasj-261	28	4	of	of	ADP
aeasj-261	28	5	curbing	curb	VERB
aeasj-261	28	6	the	the	DET
aeasj-261	28	7	financial	financial	ADJ
aeasj-261	28	8	crisis	crisis	NOUN
aeasj-261	28	9	,	,	PUNCT
aeasj-261	28	10	the	the	DET
aeasj-261	28	11	governments	government	NOUN
aeasj-261	28	12	of	of	ADP
aeasj-261	28	13	these	these	DET
aeasj-261	28	14	economies	economy	NOUN
aeasj-261	28	15	take	take	VERB
aeasj-261	28	16	up	up	ADP
aeasj-261	28	17	major	major	ADJ
aeasj-261	28	18	stakes	stake	NOUN
aeasj-261	28	19	in	in	ADP
aeasj-261	28	20	the	the	DET
aeasj-261	28	21	financial	financial	ADJ
aeasj-261	28	22	markets	market	NOUN
aeasj-261	28	23	through	through	ADP
aeasj-261	28	24	the	the	DET
aeasj-261	28	25	injection	injection	NOUN
aeasj-261	28	26	of	of	ADP
aeasj-261	28	27	funds	fund	NOUN
aeasj-261	28	28	into	into	ADP
aeasj-261	28	29	the	the	DET
aeasj-261	28	30	institutions	institution	NOUN
aeasj-261	28	31	of	of	ADP
aeasj-261	28	32	the	the	DET
aeasj-261	28	33	economy	economy	NOUN
aeasj-261	28	34	and	and	CCONJ
aeasj-261	28	35	,	,	PUNCT
aeasj-261	28	36	this	this	PRON
aeasj-261	28	37	has	have	AUX
aeasj-261	28	38	raised	raise	VERB
aeasj-261	28	39	critical	critical	ADJ
aeasj-261	28	40	issues	issue	NOUN
aeasj-261	28	41	in	in	ADP
aeasj-261	28	42	policy	policy	NOUN
aeasj-261	28	43	formulation	formulation	NOUN
aeasj-261	28	44	.	.	PUNCT
aeasj-261	29	1	some	some	PRON
aeasj-261	29	2	of	of	ADP
aeasj-261	29	3	the	the	DET
aeasj-261	29	4	developed	developed	ADJ
aeasj-261	29	5	and	and	CCONJ
aeasj-261	29	6	developing	develop	VERB
aeasj-261	29	7	countries	country	NOUN
aeasj-261	29	8	injected	inject	VERB
aeasj-261	29	9	liquidity	liquidity	NOUN
aeasj-261	29	10	in	in	ADP
aeasj-261	29	11	the	the	DET
aeasj-261	29	12	form	form	NOUN
aeasj-261	29	13	of	of	ADP
aeasj-261	29	14	preference	preference	NOUN
aeasj-261	29	15	shares	share	NOUN
aeasj-261	29	16	while	while	SCONJ
aeasj-261	29	17	others	other	NOUN
aeasj-261	29	18	injected	inject	VERB
aeasj-261	29	19	liquidity	liquidity	NOUN
aeasj-261	29	20	in	in	ADP
aeasj-261	29	21	the	the	DET
aeasj-261	29	22	form	form	NOUN
aeasj-261	29	23	of	of	ADP
aeasj-261	29	24	tier-2	tier-2	NUM
aeasj-261	29	25	capital(bank	capital(bank	VERB
aeasj-261	29	26	supplementary	supplementary	ADJ
aeasj-261	29	27	capital	capital	NOUN
aeasj-261	29	28	)	)	PUNCT
aeasj-261	29	29	.	.	PUNCT
aeasj-261	30	1	scholars	scholar	NOUN
aeasj-261	30	2	were	be	AUX
aeasj-261	30	3	of	of	ADP
aeasj-261	30	4	the	the	DET
aeasj-261	30	5	view	view	NOUN
aeasj-261	30	6	that	that	SCONJ
aeasj-261	30	7	this	this	DET
aeasj-261	30	8	decision	decision	NOUN
aeasj-261	30	9	to	to	PART
aeasj-261	30	10	move	move	VERB
aeasj-261	30	11	from	from	ADP
aeasj-261	30	12	free	free	ADJ
aeasj-261	30	13	market	market	NOUN
aeasj-261	30	14	based	base	VERB
aeasj-261	30	15	economy	economy	NOUN
aeasj-261	30	16	to	to	AUX
aeasj-261	30	17	regulated	regulated	ADJ
aeasj-261	30	18	economic	economic	ADJ
aeasj-261	30	19	regime	regime	NOUN
aeasj-261	30	20	was	be	AUX
aeasj-261	30	21	informed	inform	VERB
aeasj-261	30	22	by	by	ADP
aeasj-261	30	23	the	the	DET
aeasj-261	30	24	countries	country	NOUN
aeasj-261	30	25	’	’	PART
aeasj-261	30	26	preference	preference	NOUN
aeasj-261	30	27	for	for	ADP
aeasj-261	30	28	a	a	DET
aeasj-261	30	29	particular	particular	ADJ
aeasj-261	30	30	financial	financial	ADJ
aeasj-261	30	31	structure	structure	NOUN
aeasj-261	30	32	based	base	VERB
aeasj-261	30	33	.	.	PUNCT
aeasj-261	31	1	according	accord	VERB
aeasj-261	31	2	to	to	ADP
aeasj-261	31	3	levine	levine	PROPN
aeasj-261	31	4	and	and	CCONJ
aeasj-261	31	5	zervos	zervos	PROPN
aeasj-261	31	6	(	(	PUNCT
aeasj-261	31	7	1998	1998	NUM
aeasj-261	31	8	)	)	PUNCT
aeasj-261	31	9	,	,	PUNCT
aeasj-261	31	10	developed	develop	VERB
aeasj-261	31	11	economies	economy	NOUN
aeasj-261	31	12	show	show	VERB
aeasj-261	31	13	strong	strong	ADJ
aeasj-261	31	14	preference	preference	NOUN
aeasj-261	31	15	to	to	ADP
aeasj-261	31	16	a	a	DET
aeasj-261	31	17	particular	particular	ADJ
aeasj-261	31	18	financial	financial	ADJ
aeasj-261	31	19	structure	structure	NOUN
aeasj-261	31	20	that	that	PRON
aeasj-261	31	21	exerts	exert	VERB
aeasj-261	31	22	more	more	ADJ
aeasj-261	31	23	influence	influence	NOUN
aeasj-261	31	24	on	on	ADP
aeasj-261	31	25	economic	economic	ADJ
aeasj-261	31	26	growth	growth	NOUN
aeasj-261	31	27	.	.	PUNCT
aeasj-261	32	1	to	to	PART
aeasj-261	32	2	mitigate	mitigate	VERB
aeasj-261	32	3	the	the	DET
aeasj-261	32	4	effects	effect	NOUN
aeasj-261	32	5	of	of	ADP
aeasj-261	32	6	2007/2008	2007/2008	NUM
aeasj-261	32	7	global	global	ADJ
aeasj-261	32	8	financial	financial	ADJ
aeasj-261	32	9	crisis	crisis	NOUN
aeasj-261	32	10	,	,	PUNCT
aeasj-261	32	11	the	the	DET
aeasj-261	32	12	nigerian	nigerian	ADJ
aeasj-261	32	13	government	government	NOUN
aeasj-261	32	14	decided	decide	VERB
aeasj-261	32	15	to	to	PART
aeasj-261	32	16	bail	bail	VERB
aeasj-261	32	17	-	-	PUNCT
aeasj-261	32	18	out	out	ADP
aeasj-261	32	19	only	only	ADJ
aeasj-261	32	20	banks	bank	NOUN
aeasj-261	32	21	in	in	ADP
aeasj-261	32	22	the	the	DET
aeasj-261	32	23	form	form	NOUN
aeasj-261	32	24	of	of	ADP
aeasj-261	32	25	tier-2	tier-2	NUM
aeasj-261	32	26	capital	capital	NOUN
aeasj-261	32	27	.	.	PUNCT
aeasj-261	33	1	however	however	ADV
aeasj-261	33	2	,	,	PUNCT
aeasj-261	33	3	the	the	DET
aeasj-261	33	4	government	government	NOUN
aeasj-261	33	5	never	never	ADV
aeasj-261	33	6	considered	consider	VERB
aeasj-261	33	7	to	to	PART
aeasj-261	33	8	bail	bail	VERB
aeasj-261	33	9	-	-	PUNCT
aeasj-261	33	10	out	out	ADP
aeasj-261	33	11	the	the	DET
aeasj-261	33	12	capital	capital	NOUN
aeasj-261	33	13	market	market	NOUN
aeasj-261	33	14	,	,	PUNCT
aeasj-261	33	15	especially	especially	ADV
aeasj-261	33	16	when	when	SCONJ
aeasj-261	33	17	the	the	DET
aeasj-261	33	18	stock	stock	NOUN
aeasj-261	33	19	market	market	NOUN
aeasj-261	33	20	was	be	AUX
aeasj-261	33	21	not	not	PART
aeasj-261	33	22	spared	spare	VERB
aeasj-261	33	23	by	by	ADP
aeasj-261	33	24	the	the	DET
aeasj-261	33	25	crisis	crisis	NOUN
aeasj-261	33	26	.	.	PUNCT
aeasj-261	34	1	this	this	PRON
aeasj-261	34	2	has	have	VERB
aeasj-261	34	3	the	the	DET
aeasj-261	34	4	capacity	capacity	NOUN
aeasj-261	34	5	of	of	ADP
aeasj-261	34	6	promoting	promote	VERB
aeasj-261	34	7	the	the	DET
aeasj-261	34	8	bank	bank	NOUN
aeasj-261	34	9	-	-	PUNCT
aeasj-261	34	10	based	base	VERB
aeasj-261	34	11	financial	financial	ADJ
aeasj-261	34	12	structure	structure	NOUN
aeasj-261	34	13	over	over	ADP
aeasj-261	34	14	the	the	DET
aeasj-261	34	15	market	market	NOUN
aeasj-261	34	16	-	-	PUNCT
aeasj-261	34	17	based	base	VERB
aeasj-261	34	18	financial	financial	ADJ
aeasj-261	34	19	structure	structure	NOUN
aeasj-261	34	20	.	.	PUNCT
aeasj-261	35	1	empirically	empirically	ADV
aeasj-261	35	2	,	,	PUNCT
aeasj-261	35	3	studies	study	NOUN
aeasj-261	35	4	have	have	AUX
aeasj-261	35	5	shown	show	VERB
aeasj-261	35	6	that	that	SCONJ
aeasj-261	35	7	assessing	assess	VERB
aeasj-261	35	8	whether	whether	SCONJ
aeasj-261	35	9	the	the	DET
aeasj-261	35	10	relationship	relationship	NOUN
aeasj-261	35	11	between	between	ADP
aeasj-261	35	12	bank	bank	NOUN
aeasj-261	35	13	development	development	NOUN
aeasj-261	35	14	and	and	CCONJ
aeasj-261	35	15	growth	growth	NOUN
aeasj-261	35	16	holds	hold	VERB
aeasj-261	35	17	when	when	SCONJ
aeasj-261	35	18	controlling	control	VERB
aeasj-261	35	19	for	for	ADP
aeasj-261	35	20	stock	stock	NOUN
aeasj-261	35	21	market	market	NOUN
aeasj-261	35	22	development	development	NOUN
aeasj-261	35	23	hampers	hamper	VERB
aeasj-261	35	24	the	the	DET
aeasj-261	35	25	ability	ability	NOUN
aeasj-261	35	26	to	to	PART
aeasj-261	35	27	make	make	VERB
aeasj-261	35	28	policy	policy	NOUN
aeasj-261	35	29	decisions	decision	NOUN
aeasj-261	35	30	on	on	ADP
aeasj-261	35	31	whether	whether	SCONJ
aeasj-261	35	32	the	the	DET
aeasj-261	35	33	overall	overall	ADJ
aeasj-261	35	34	financial	financial	ADJ
aeasj-261	35	35	structure	structure	NOUN
aeasj-261	35	36	matters	matter	VERB
aeasj-261	35	37	for	for	ADP
aeasj-261	35	38	growth	growth	NOUN
aeasj-261	35	39	as	as	ADV
aeasj-261	35	40	well	well	ADV
aeasj-261	35	41	as	as	ADP
aeasj-261	35	42	identifying	identify	VERB
aeasj-261	35	43	the	the	DET
aeasj-261	35	44	separate	separate	ADJ
aeasj-261	35	45	impact	impact	NOUN
aeasj-261	35	46	of	of	ADP
aeasj-261	35	47	banks	bank	NOUN
aeasj-261	35	48	and	and	CCONJ
aeasj-261	35	49	stock	stock	NOUN
aeasj-261	35	50	markets	market	NOUN
aeasj-261	35	51	on	on	ADP
aeasj-261	35	52	economic	economic	ADJ
aeasj-261	35	53	growth	growth	NOUN
aeasj-261	35	54	(	(	PUNCT
aeasj-261	35	55	caporale	caporale	NOUN
aeasj-261	35	56	et	et	PROPN
aeasj-261	35	57	al	al	PROPN
aeasj-261	35	58	.	.	PROPN
aeasj-261	35	59	,	,	PUNCT
aeasj-261	35	60	2002	2002	NUM
aeasj-261	35	61	)	)	PUNCT
aeasj-261	35	62	.	.	PUNCT
aeasj-261	36	1	hence	hence	ADV
aeasj-261	36	2	,	,	PUNCT
aeasj-261	36	3	the	the	DET
aeasj-261	36	4	following	follow	VERB
aeasj-261	36	5	questions	question	NOUN
aeasj-261	36	6	are	be	AUX
aeasj-261	36	7	relevant	relevant	ADJ
aeasj-261	36	8	:	:	PUNCT
aeasj-261	36	9	does	do	VERB
aeasj-261	36	10	overall	overall	ADJ
aeasj-261	36	11	financial	financial	ADJ
aeasj-261	36	12	structure	structure	NOUN
aeasj-261	36	13	influence	influence	NOUN
aeasj-261	36	14	economic	economic	ADJ
aeasj-261	36	15	growth	growth	NOUN
aeasj-261	36	16	?	?	PUNCT
aeasj-261	37	1	which	which	PRON
aeasj-261	37	2	of	of	ADP
aeasj-261	37	3	these	these	DET
aeasj-261	37	4	structures	structure	NOUN
aeasj-261	37	5	exerts	exert	VERB
aeasj-261	37	6	more	more	ADJ
aeasj-261	37	7	influence	influence	NOUN
aeasj-261	37	8	on	on	ADP
aeasj-261	37	9	economic	economic	ADJ
aeasj-261	37	10	growth	growth	NOUN
aeasj-261	37	11	?	?	PUNCT
aeasj-261	38	1	this	this	PRON
aeasj-261	38	2	calls	call	VERB
aeasj-261	38	3	for	for	ADP
aeasj-261	38	4	an	an	DET
aeasj-261	38	5	empirical	empirical	ADJ
aeasj-261	38	6	investigation	investigation	NOUN
aeasj-261	38	7	.	.	PUNCT
aeasj-261	39	1	the	the	DET
aeasj-261	39	2	rest	rest	NOUN
aeasj-261	39	3	of	of	ADP
aeasj-261	39	4	the	the	DET
aeasj-261	39	5	work	work	NOUN
aeasj-261	39	6	is	be	AUX
aeasj-261	39	7	structured	structure	VERB
aeasj-261	39	8	as	as	SCONJ
aeasj-261	39	9	follows	follow	VERB
aeasj-261	39	10	;	;	PUNCT
aeasj-261	39	11	section	section	NOUN
aeasj-261	39	12	two	two	NUM
aeasj-261	39	13	provides	provide	VERB
aeasj-261	39	14	reviews	review	NOUN
aeasj-261	39	15	of	of	ADP
aeasj-261	39	16	related	related	ADJ
aeasj-261	39	17	and	and	CCONJ
aeasj-261	39	18	relevant	relevant	ADJ
aeasj-261	39	19	literature	literature	NOUN
aeasj-261	39	20	,	,	PUNCT
aeasj-261	39	21	section	section	NOUN
aeasj-261	39	22	three	three	NUM
aeasj-261	39	23	explains	explain	VERB
aeasj-261	39	24	the	the	DET
aeasj-261	39	25	method	method	NOUN
aeasj-261	39	26	of	of	ADP
aeasj-261	39	27	analysis	analysis	NOUN
aeasj-261	39	28	,	,	PUNCT
aeasj-261	39	29	section	section	NOUN
aeasj-261	39	30	four	four	NUM
aeasj-261	39	31	focuses	focus	VERB
aeasj-261	39	32	on	on	ADP
aeasj-261	39	33	the	the	DET
aeasj-261	39	34	empirical	empirical	ADJ
aeasj-261	39	35	results	result	NOUN
aeasj-261	39	36	and	and	CCONJ
aeasj-261	39	37	discussions	discussion	NOUN
aeasj-261	39	38	and	and	CCONJ
aeasj-261	39	39	,	,	PUNCT
aeasj-261	39	40	section	section	NOUN
aeasj-261	39	41	five	five	NUM
aeasj-261	39	42	presents	present	VERB
aeasj-261	39	43	the	the	DET
aeasj-261	39	44	conclusion	conclusion	NOUN
aeasj-261	39	45	and	and	CCONJ
aeasj-261	39	46	recommendations	recommendation	NOUN
aeasj-261	39	47	.	.	PUNCT
aeasj-261	40	1	2.review	2.review	NUM
aeasj-261	40	2	of	of	ADP
aeasj-261	40	3	literature	literature	PROPN
aeasj-261	40	4	theoretical	theoretical	PROPN
aeasj-261	40	5	review	review	NOUN
aeasj-261	40	6	gerschenken	gerschenken	PROPN
aeasj-261	40	7	(	(	PUNCT
aeasj-261	40	8	1962	1962	NUM
aeasj-261	40	9	)	)	PUNCT
aeasj-261	40	10	was	be	AUX
aeasj-261	40	11	the	the	DET
aeasj-261	40	12	first	first	ADJ
aeasj-261	40	13	to	to	PART
aeasj-261	40	14	classified	classified	VERB
aeasj-261	40	15	the	the	DET
aeasj-261	40	16	financial	financial	ADJ
aeasj-261	40	17	system	system	NOUN
aeasj-261	40	18	into	into	ADP
aeasj-261	40	19	two	two	NUM
aeasj-261	40	20	categories	category	NOUN
aeasj-261	40	21	;	;	PUNCT
aeasj-261	40	22	bank	bank	NOUN
aeasj-261	40	23	-	-	PUNCT
aeasj-261	40	24	based	base	VERB
aeasj-261	40	25	and	and	CCONJ
aeasj-261	40	26	marketbased	marketbase	VERB
aeasj-261	40	27	financial	financial	ADJ
aeasj-261	40	28	structure	structure	NOUN
aeasj-261	40	29	and	and	CCONJ
aeasj-261	40	30	ever	ever	ADV
aeasj-261	40	31	since	since	SCONJ
aeasj-261	40	32	this	this	PRON
aeasj-261	40	33	has	have	AUX
aeasj-261	40	34	generated	generate	VERB
aeasj-261	40	35	serious	serious	ADJ
aeasj-261	40	36	debate	debate	NOUN
aeasj-261	40	37	among	among	ADP
aeasj-261	40	38	scholars	scholar	NOUN
aeasj-261	40	39	.	.	PUNCT
aeasj-261	41	1	the	the	DET
aeasj-261	41	2	argument	argument	NOUN
aeasj-261	41	3	has	have	AUX
aeasj-261	41	4	been	be	AUX
aeasj-261	41	5	polarized	polarize	VERB
aeasj-261	41	6	along	along	ADP
aeasj-261	41	7	the	the	DET
aeasj-261	41	8	following	following	ADJ
aeasj-261	41	9	lines	line	NOUN
aeasj-261	41	10	;	;	PUNCT
aeasj-261	41	11	(	(	PUNCT
aeasj-261	41	12	1	1	X
aeasj-261	41	13	)	)	PUNCT
aeasj-261	41	14	the	the	DET
aeasj-261	41	15	standard	standard	ADJ
aeasj-261	41	16	parameters	parameter	NOUN
aeasj-261	41	17	or	or	CCONJ
aeasj-261	41	18	measurement	measurement	NOUN
aeasj-261	41	19	for	for	ADP
aeasj-261	41	20	classifying	classify	VERB
aeasj-261	41	21	a	a	DET
aeasj-261	41	22	country	country	NOUN
aeasj-261	41	23	’s	’s	PART
aeasj-261	41	24	financial	financial	ADJ
aeasj-261	41	25	system	system	NOUN
aeasj-261	41	26	either	either	CCONJ
aeasj-261	41	27	as	as	SCONJ
aeasj-261	41	28	bank	bank	NOUN
aeasj-261	41	29	-	-	PUNCT
aeasj-261	41	30	based	base	VERB
aeasj-261	41	31	or	or	CCONJ
aeasj-261	41	32	market	market	NOUN
aeasj-261	41	33	-	-	PUNCT
aeasj-261	41	34	based	base	VERB
aeasj-261	41	35	;	;	PUNCT
aeasj-261	41	36	(	(	PUNCT
aeasj-261	41	37	2	2	X
aeasj-261	41	38	)	)	PUNCT
aeasj-261	41	39	which	which	PRON
aeasj-261	41	40	of	of	ADP
aeasj-261	41	41	these	these	DET
aeasj-261	41	42	classifications	classification	NOUN
aeasj-261	41	43	exert	exert	VERB
aeasj-261	41	44	more	more	ADJ
aeasj-261	41	45	influence	influence	NOUN
aeasj-261	41	46	on	on	ADP
aeasj-261	41	47	economic	economic	ADJ
aeasj-261	41	48	growth	growth	NOUN
aeasj-261	41	49	;	;	PUNCT
aeasj-261	41	50	and	and	CCONJ
aeasj-261	41	51	(	(	PUNCT
aeasj-261	41	52	3	3	X
aeasj-261	41	53	)	)	PUNCT
aeasj-261	41	54	the	the	DET
aeasj-261	41	55	determinants	determinant	NOUN
aeasj-261	41	56	of	of	ADP
aeasj-261	41	57	a	a	DET
aeasj-261	41	58	country	country	NOUN
aeasj-261	41	59	’s	’s	PART
aeasj-261	41	60	financial	financial	ADJ
aeasj-261	41	61	structure	structure	NOUN
aeasj-261	41	62	.	.	PUNCT
aeasj-261	42	1	also	also	ADV
aeasj-261	42	2	,	,	PUNCT
aeasj-261	42	3	according	accord	VERB
aeasj-261	42	4	to	to	ADP
aeasj-261	42	5	scholars	scholar	NOUN
aeasj-261	42	6	(	(	PUNCT
aeasj-261	42	7	la	la	X
aeasj-261	42	8	porta	porta	X
aeasj-261	42	9	et	et	PROPN
aeasj-261	42	10	al	al	PROPN
aeasj-261	42	11	,	,	PUNCT
aeasj-261	42	12	1997	1997	NUM
aeasj-261	42	13	and	and	CCONJ
aeasj-261	42	14	,	,	PUNCT
aeasj-261	42	15	beck	beck	PROPN
aeasj-261	42	16	and	and	CCONJ
aeasj-261	42	17	levine	levine	PROPN
aeasj-261	42	18	,	,	PUNCT
aeasj-261	42	19	2002	2002	NUM
aeasj-261	42	20	and	and	CCONJ
aeasj-261	42	21	,	,	PUNCT
aeasj-261	42	22	arestis	arestis	NOUN
aeasj-261	42	23	and	and	CCONJ
aeasj-261	42	24	luintel	luintel	NOUN
aeasj-261	42	25	,	,	PUNCT
aeasj-261	42	26	2004	2004	NUM
aeasj-261	42	27	)	)	PUNCT
aeasj-261	42	28	,	,	PUNCT
aeasj-261	42	29	the	the	DET
aeasj-261	42	30	relationship	relationship	NOUN
aeasj-261	42	31	between	between	ADP
aeasj-261	42	32	financial	financial	ADJ
aeasj-261	42	33	structure	structure	NOUN
aeasj-261	42	34	and	and	CCONJ
aeasj-261	42	35	economic	economic	ADJ
aeasj-261	42	36	development	development	NOUN
aeasj-261	42	37	are	be	AUX
aeasj-261	42	38	discussed	discuss	VERB
aeasj-261	42	39	within	within	ADP
aeasj-261	42	40	four	four	NUM
aeasj-261	42	41	competing	compete	VERB
aeasj-261	42	42	theories	theory	NOUN
aeasj-261	42	43	of	of	ADP
aeasj-261	42	44	financial	financial	ADJ
aeasj-261	42	45	structure	structure	NOUN
aeasj-261	42	46	.	.	PUNCT
aeasj-261	43	1	these	these	DET
aeasj-261	43	2	competing	compete	VERB
aeasj-261	43	3	theories	theory	NOUN
aeasj-261	43	4	are	be	AUX
aeasj-261	43	5	the	the	DET
aeasj-261	43	6	bank	bank	NOUN
aeasj-261	43	7	-	-	PUNCT
aeasj-261	43	8	based	base	VERB
aeasj-261	43	9	view	view	NOUN
aeasj-261	43	10	,	,	PUNCT
aeasj-261	43	11	the	the	DET
aeasj-261	43	12	market	market	NOUN
aeasj-261	43	13	-	-	PUNCT
aeasj-261	43	14	based	base	VERB
aeasj-261	43	15	view	view	NOUN
aeasj-261	43	16	,	,	PUNCT
aeasj-261	43	17	the	the	DET
aeasj-261	43	18	financial	financial	ADJ
aeasj-261	43	19	services	service	NOUN
aeasj-261	43	20	view	view	VERB
aeasj-261	43	21	and	and	CCONJ
aeasj-261	43	22	the	the	DET
aeasj-261	43	23	legal	legal	ADJ
aeasj-261	43	24	based	base	VERB
aeasj-261	43	25	view	view	NOUN
aeasj-261	43	26	.	.	PUNCT
aeasj-261	44	1	these	these	DET
aeasj-261	44	2	theories	theory	NOUN
aeasj-261	44	3	are	be	AUX
aeasj-261	44	4	examined	examine	VERB
aeasj-261	44	5	in	in	ADP
aeasj-261	44	6	brief	brief	NOUN
aeasj-261	44	7	in	in	ADP
aeasj-261	44	8	what	what	PRON
aeasj-261	44	9	follows	follow	VERB
aeasj-261	44	10	.	.	PUNCT
aeasj-261	45	1	however	however	ADV
aeasj-261	45	2	,	,	PUNCT
aeasj-261	45	3	before	before	ADP
aeasj-261	45	4	looking	look	VERB
aeasj-261	45	5	at	at	ADP
aeasj-261	45	6	the	the	DET
aeasj-261	45	7	various	various	ADJ
aeasj-261	45	8	theories	theory	NOUN
aeasj-261	45	9	of	of	ADP
aeasj-261	45	10	financial	financial	ADJ
aeasj-261	45	11	structure	structure	NOUN
aeasj-261	45	12	,	,	PUNCT
aeasj-261	45	13	it	it	PRON
aeasj-261	45	14	is	be	AUX
aeasj-261	45	15	proper	proper	ADJ
aeasj-261	45	16	to	to	PART
aeasj-261	45	17	define	define	VERB
aeasj-261	45	18	financial	financial	ADJ
aeasj-261	45	19	structure	structure	NOUN
aeasj-261	45	20	.	.	PUNCT
aeasj-261	46	1	according	accord	VERB
aeasj-261	46	2	to	to	ADP
aeasj-261	46	3	stulz	stulz	ADJ
aeasj-261	46	4	(	(	PUNCT
aeasj-261	46	5	2001	2001	NUM
aeasj-261	46	6	)	)	PUNCT
aeasj-261	46	7	,	,	PUNCT
aeasj-261	46	8	financial	financial	ADJ
aeasj-261	46	9	structure	structure	NOUN
aeasj-261	46	10	entails	entail	VERB
aeasj-261	46	11	the	the	DET
aeasj-261	46	12	institutions	institution	NOUN
aeasj-261	46	13	,	,	PUNCT
aeasj-261	46	14	financial	financial	ADJ
aeasj-261	46	15	technology	technology	NOUN
aeasj-261	46	16	,	,	PUNCT
aeasj-261	46	17	and	and	CCONJ
aeasj-261	46	18	rules	rule	NOUN
aeasj-261	46	19	that	that	PRON
aeasj-261	46	20	guide	guide	VERB
aeasj-261	46	21	financial	financial	ADJ
aeasj-261	46	22	activity	activity	NOUN
aeasj-261	46	23	at	at	ADP
aeasj-261	46	24	a	a	DET
aeasj-261	46	25	point	point	NOUN
aeasj-261	46	26	in	in	ADP
aeasj-261	46	27	time	time	NOUN
aeasj-261	46	28	,	,	PUNCT
aeasj-261	46	29	and	and	CCONJ
aeasj-261	46	30	also	also	ADV
aeasj-261	46	31	merton	merton	ADJ
aeasj-261	46	32	(	(	PUNCT
aeasj-261	46	33	1995	1995	NUM
aeasj-261	46	34	)	)	PUNCT
aeasj-261	46	35	added	add	VERB
aeasj-261	46	36	that	that	SCONJ
aeasj-261	46	37	it	it	PRON
aeasj-261	46	38	provides	provide	VERB
aeasj-261	46	39	a	a	DET
aeasj-261	46	40	payment	payment	NOUN
aeasj-261	46	41	system	system	NOUN
aeasj-261	46	42	,	,	PUNCT
aeasj-261	46	43	that	that	ADV
aeasj-261	46	44	is	is	ADV
aeasj-261	46	45	,	,	PUNCT
aeasj-261	46	46	a	a	DET
aeasj-261	46	47	mechanism	mechanism	NOUN
aeasj-261	46	48	for	for	ADP
aeasj-261	46	49	pooling	pool	VERB
aeasj-261	46	50	funds	fund	NOUN
aeasj-261	46	51	,	,	PUNCT
aeasj-261	46	52	ways	way	NOUN
aeasj-261	46	53	of	of	ADP
aeasj-261	46	54	transmitting	transmit	VERB
aeasj-261	46	55	resources	resource	NOUN
aeasj-261	46	56	across	across	ADP
aeasj-261	46	57	space	space	NOUN
aeasj-261	46	58	and	and	CCONJ
aeasj-261	46	59	time	time	NOUN
aeasj-261	46	60	,	,	PUNCT
aeasj-261	46	61	ways	way	NOUN
aeasj-261	46	62	to	to	PART
aeasj-261	46	63	manage	manage	VERB
aeasj-261	46	64	uncertainty	uncertainty	NOUN
aeasj-261	46	65	and	and	CCONJ
aeasj-261	46	66	control	control	NOUN
aeasj-261	46	67	risk	risk	NOUN
aeasj-261	46	68	,	,	PUNCT
aeasj-261	46	69	price	price	NOUN
aeasj-261	46	70	information	information	NOUN
aeasj-261	46	71	to	to	PART
aeasj-261	46	72	allow	allow	VERB
aeasj-261	46	73	the	the	DET
aeasj-261	46	74	economy	economy	NOUN
aeasj-261	46	75	to	to	PART
aeasj-261	46	76	implement	implement	VERB
aeasj-261	46	77	a	a	DET
aeasj-261	46	78	decentralized	decentralize	VERB
aeasj-261	46	79	allocation	allocation	NOUN
aeasj-261	46	80	,	,	PUNCT
aeasj-261	46	81	and	and	CCONJ
aeasj-261	46	82	ways	way	NOUN
aeasj-261	46	83	to	to	PART
aeasj-261	46	84	deal	deal	VERB
aeasj-261	46	85	with	with	ADP
aeasj-261	46	86	the	the	DET
aeasj-261	46	87	asymmetric	asymmetric	ADJ
aeasj-261	46	88	information	information	NOUN
aeasj-261	46	89	problems	problem	NOUN
aeasj-261	46	90	that	that	PRON
aeasj-261	46	91	arise	arise	VERB
aeasj-261	46	92	when	when	SCONJ
aeasj-261	46	93	one	one	NUM
aeasj-261	46	94	party	party	NOUN
aeasj-261	46	95	to	to	ADP
aeasj-261	46	96	a	a	DET
aeasj-261	46	97	financial	financial	ADJ
aeasj-261	46	98	transaction	transaction	NOUN
aeasj-261	46	99	has	have	VERB
aeasj-261	46	100	information	information	NOUN
aeasj-261	46	101	that	that	SCONJ
aeasj-261	46	102	the	the	DET
aeasj-261	46	103	others	other	NOUN
aeasj-261	46	104	do	do	AUX
aeasj-261	46	105	not	not	PART
aeasj-261	46	106	have	have	VERB
aeasj-261	46	107	.	.	PUNCT
aeasj-261	47	1	the	the	DET
aeasj-261	47	2	bank	bank	NOUN
aeasj-261	47	3	-	-	PUNCT
aeasj-261	47	4	based	base	VERB
aeasj-261	47	5	theory	theory	NOUN
aeasj-261	47	6	lays	lay	VERB
aeasj-261	47	7	emphasis	emphasis	NOUN
aeasj-261	47	8	on	on	ADP
aeasj-261	47	9	the	the	DET
aeasj-261	47	10	positive	positive	ADJ
aeasj-261	47	11	role	role	NOUN
aeasj-261	47	12	of	of	ADP
aeasj-261	47	13	banks	bank	NOUN
aeasj-261	47	14	in	in	ADP
aeasj-261	47	15	development	development	NOUN
aeasj-261	47	16	and	and	CCONJ
aeasj-261	47	17	growth	growth	NOUN
aeasj-261	47	18	,	,	PUNCT
aeasj-261	47	19	and	and	CCONJ
aeasj-261	47	20	also	also	ADV
aeasj-261	47	21	,	,	PUNCT
aeasj-261	47	22	stresses	stress	VERB
aeasj-261	47	23	the	the	DET
aeasj-261	47	24	shortcomings	shortcoming	NOUN
aeasj-261	47	25	of	of	ADP
aeasj-261	47	26	market	market	NOUN
aeasj-261	47	27	-	-	PUNCT
aeasj-261	47	28	based	base	VERB
aeasj-261	47	29	financial	financial	ADJ
aeasj-261	47	30	systems	system	NOUN
aeasj-261	47	31	.	.	PUNCT
aeasj-261	48	1	it	it	PRON
aeasj-261	48	2	argues	argue	VERB
aeasj-261	48	3	that	that	SCONJ
aeasj-261	48	4	banks	bank	NOUN
aeasj-261	48	5	can	can	AUX
aeasj-261	48	6	finance	finance	VERB
aeasj-261	48	7	development	development	NOUN
aeasj-261	48	8	more	more	ADV
aeasj-261	48	9	effectively	effectively	ADV
aeasj-261	48	10	than	than	ADP
aeasj-261	48	11	markets	market	NOUN
aeasj-261	48	12	in	in	ADP
aeasj-261	48	13	developing	develop	VERB
aeasj-261	48	14	economies	economy	NOUN
aeasj-261	48	15	,	,	PUNCT
aeasj-261	48	16	and	and	CCONJ
aeasj-261	48	17	,	,	PUNCT
aeasj-261	48	18	in	in	ADP
aeasj-261	48	19	the	the	DET
aeasj-261	48	20	case	case	NOUN
aeasj-261	48	21	of	of	ADP
aeasj-261	48	22	state	state	NOUN
aeasj-261	48	23	-	-	PUNCT
aeasj-261	48	24	owned	own	VERB
aeasj-261	48	25	banks	bank	NOUN
aeasj-261	48	26	,	,	PUNCT
aeasj-261	48	27	market	market	NOUN
aeasj-261	48	28	failures	failure	NOUN
aeasj-261	48	29	can	can	AUX
aeasj-261	48	30	be	be	AUX
aeasj-261	48	31	overcome	overcome	VERB
aeasj-261	48	32	and	and	CCONJ
aeasj-261	48	33	allocation	allocation	NOUN
aeasj-261	48	34	of	of	ADP
aeasj-261	48	35	savings	saving	NOUN
aeasj-261	48	36	can	can	AUX
aeasj-261	48	37	be	be	AUX
aeasj-261	48	38	undertaken	undertake	VERB
aeasj-261	48	39	strategically	strategically	ADV
aeasj-261	48	40	(	(	PUNCT
aeasj-261	48	41	gerschenkron	gerschenkron	NOUN
aeasj-261	48	42	,	,	PUNCT
aeasj-261	48	43	1962	1962	NUM
aeasj-261	48	44	)	)	PUNCT
aeasj-261	48	45	.	.	PUNCT
aeasj-261	49	1	the	the	DET
aeasj-261	49	2	bank	bank	NOUN
aeasj-261	49	3	-	-	PUNCT
aeasj-261	49	4	based	base	VERB
aeasj-261	49	5	view	view	NOUN
aeasj-261	49	6	stresses	stress	VERB
aeasj-261	49	7	that	that	SCONJ
aeasj-261	49	8	a	a	DET
aeasj-261	49	9	well	well	ADV
aeasj-261	49	10	functioning	function	VERB
aeasj-261	49	11	market	market	NOUN
aeasj-261	49	12	-	-	PUNCT
aeasj-261	49	13	based	base	VERB
aeasj-261	49	14	systems	system	NOUN
aeasj-261	49	15	reveal	reveal	VERB
aeasj-261	49	16	information	information	NOUN
aeasj-261	49	17	publicly	publicly	ADV
aeasj-261	49	18	,	,	PUNCT
aeasj-261	49	19	thereby	thereby	ADV
aeasj-261	49	20	reducing	reduce	VERB
aeasj-261	49	21	incentives	incentive	NOUN
aeasj-261	49	22	for	for	SCONJ
aeasj-261	49	23	investors	investor	NOUN
aeasj-261	49	24	to	to	PART
aeasj-261	49	25	seek	seek	VERB
aeasj-261	49	26	and	and	CCONJ
aeasj-261	49	27	acquire	acquire	VERB
aeasj-261	49	28	information	information	NOUN
aeasj-261	49	29	about	about	ADP
aeasj-261	49	30	firms	firm	NOUN
aeasj-261	49	31	.	.	PUNCT
aeasj-261	50	1	however	however	ADV
aeasj-261	50	2	,	,	PUNCT
aeasj-261	50	3	banks	bank	NOUN
aeasj-261	50	4	can	can	AUX
aeasj-261	50	5	make	make	VERB
aeasj-261	50	6	investments	investment	NOUN
aeasj-261	50	7	without	without	ADP
aeasj-261	50	8	revealing	reveal	VERB
aeasj-261	50	9	the	the	DET
aeasj-261	50	10	decision	decision	NOUN
aeasj-261	50	11	immediately	immediately	ADV
aeasj-261	50	12	in	in	ADP
aeasj-261	50	13	public	public	ADJ
aeasj-261	50	14	markets	market	NOUN
aeasj-261	50	15	and	and	CCONJ
aeasj-261	50	16	,	,	PUNCT
aeasj-261	50	17	this	this	PRON
aeasj-261	50	18	creates	create	VERB
aeasj-261	50	19	incentives	incentive	NOUN
aeasj-261	50	20	for	for	ADP
aeasj-261	50	21	them	they	PRON
aeasj-261	50	22	to	to	ADP
aeasj-261	50	23	research	research	NOUN
aeasj-261	50	24	firms	firm	NOUN
aeasj-261	50	25	,	,	PUNCT
aeasj-261	50	26	managers	manager	NOUN
aeasj-261	50	27	,	,	PUNCT
aeasj-261	50	28	and	and	CCONJ
aeasj-261	50	29	market	market	NOUN
aeasj-261	50	30	conditions	condition	NOUN
aeasj-261	50	31	with	with	ADP
aeasj-261	50	32	positive	positive	ADJ
aeasj-261	50	33	ramifications	ramification	NOUN
aeasj-261	50	34	on	on	ADP
aeasj-261	50	35	resource	resource	NOUN
aeasj-261	50	36	allocation	allocation	NOUN
aeasj-261	50	37	and	and	CCONJ
aeasj-261	50	38	growth	growth	NOUN
aeasj-261	50	39	.	.	PUNCT
aeasj-261	51	1	this	this	DET
aeasj-261	51	2	argument	argument	NOUN
aeasj-261	51	3	is	be	AUX
aeasj-261	51	4	that	that	SCONJ
aeasj-261	51	5	if	if	SCONJ
aeasj-261	51	6	information	information	NOUN
aeasj-261	51	7	is	be	AUX
aeasj-261	51	8	going	go	VERB
aeasj-261	51	9	to	to	PART
aeasj-261	51	10	be	be	AUX
aeasj-261	51	11	revealed	reveal	VERB
aeasj-261	51	12	by	by	ADP
aeasj-261	51	13	the	the	DET
aeasj-261	51	14	market	market	NOUN
aeasj-261	51	15	,	,	PUNCT
aeasj-261	51	16	no	no	DET
aeasj-261	51	17	one	one	NOUN
aeasj-261	51	18	is	be	AUX
aeasj-261	51	19	motivated	motivate	VERB
aeasj-261	51	20	to	to	PART
aeasj-261	51	21	collect	collect	VERB
aeasj-261	51	22	it	it	PRON
aeasj-261	51	23	.	.	PUNCT
aeasj-261	52	1	this	this	PRON
aeasj-261	52	2	is	be	AUX
aeasj-261	52	3	known	know	VERB
aeasj-261	52	4	as	as	ADP
aeasj-261	52	5	free	free	ADJ
aeasj-261	52	6	-	-	PUNCT
aeasj-261	52	7	rider	rider	NOUN
aeasj-261	52	8	problem	problem	NOUN
aeasj-261	52	9	.	.	PUNCT
aeasj-261	53	1	as	as	ADP
aeasj-261	53	2	a	a	DET
aeasj-261	53	3	result	result	NOUN
aeasj-261	53	4	,	,	PUNCT
aeasj-261	53	5	competitive	competitive	ADJ
aeasj-261	53	6	market	market	NOUN
aeasj-261	53	7	system	system	NOUN
aeasj-261	53	8	may	may	AUX
aeasj-261	53	9	be	be	AUX
aeasj-261	53	10	characterized	characterize	VERB
aeasj-261	53	11	by	by	ADP
aeasj-261	53	12	under	under	NOUN
aeasj-261	53	13	-	-	PUNCT
aeasj-261	53	14	investment	investment	NOUN
aeasj-261	53	15	in	in	ADP
aeasj-261	53	16	information	information	NOUN
aeasj-261	53	17	.	.	PUNCT
aeasj-261	54	1	consequently	consequently	ADV
aeasj-261	54	2	,	,	PUNCT
aeasj-261	54	3	well	well	ADV
aeasj-261	54	4	developed	develop	VERB
aeasj-261	54	5	market	market	NOUN
aeasj-261	54	6	systems	system	NOUN
aeasj-261	54	7	have	have	VERB
aeasj-261	54	8	a	a	DET
aeasj-261	54	9	negative	negative	ADJ
aeasj-261	54	10	impact	impact	NOUN
aeasj-261	54	11	on	on	ADP
aeasj-261	54	12	the	the	DET
aeasj-261	54	13	identification	identification	NOUN
aeasj-261	54	14	of	of	ADP
aeasj-261	54	15	innovative	innovative	ADJ
aeasj-261	54	16	projects	project	NOUN
aeasj-261	54	17	,	,	PUNCT
aeasj-261	54	18	and	and	CCONJ
aeasj-261	54	19	thereby	thereby	ADV
aeasj-261	54	20	impede	impede	VERB
aeasj-261	54	21	efficient	efficient	ADJ
aeasj-261	54	22	resource	resource	NOUN
aeasj-261	54	23	allocation	allocation	NOUN
aeasj-261	54	24	(	(	PUNCT
aeasj-261	54	25	stiglitz	stiglitz	PROPN
aeasj-261	54	26	,	,	PUNCT
aeasj-261	54	27	1985	1985	NUM
aeasj-261	54	28	and	and	CCONJ
aeasj-261	54	29	,	,	PUNCT
aeasj-261	54	30	boot	boot	NOUN
aeasj-261	54	31	,	,	PUNCT
aeasj-261	54	32	greenbaum	greenbaum	PROPN
aeasj-261	54	33	,	,	PUNCT
aeasj-261	54	34	and	and	CCONJ
aeasj-261	54	35	thakor	thakor	NOUN
aeasj-261	54	36	,	,	PUNCT
aeasj-261	54	37	1993	1993	NUM
aeasj-261	54	38	)	)	PUNCT
aeasj-261	54	39	.	.	PUNCT
aeasj-261	55	1	also	also	ADV
aeasj-261	55	2	,	,	PUNCT
aeasj-261	55	3	information	information	NOUN
aeasj-261	55	4	asymmetries	asymmetry	NOUN
aeasj-261	55	5	are	be	AUX
aeasj-261	55	6	thus	thus	ADV
aeasj-261	55	7	accentuated	accentuate	VERB
aeasj-261	55	8	,	,	PUNCT
aeasj-261	55	9	more	more	ADJ
aeasj-261	55	10	copyright	copyright	NOUN
aeasj-261	55	11	©	©	PROPN
aeasj-261	55	12	cc	cc	NOUN
aeasj-261	55	13	-	-	PUNCT
aeasj-261	55	14	by	by	ADP
aeasj-261	55	15	-	-	PUNCT
aeasj-261	55	16	nc	nc	PROPN
aeasj-261	55	17	2019	2019	NUM
aeasj-261	55	18	,	,	PUNCT
aeasj-261	55	19	cribfb	cribfb	PROPN
aeasj-261	55	20	|	|	ADV
aeasj-261	55	21	afbr	afbr	PROPN
aeasj-261	55	22	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	55	23	american	american	PROPN
aeasj-261	55	24	economic	economic	PROPN
aeasj-261	55	25	&	&	CCONJ
aeasj-261	55	26	social	social	PROPN
aeasj-261	55	27	review	review	PROPN
aeasj-261	55	28	vol	vol	NOUN
aeasj-261	55	29	.	.	PROPN
aeasj-261	56	1	5	5	NUM
aeasj-261	56	2	,	,	PUNCT
aeasj-261	56	3	no	no	INTJ
aeasj-261	56	4	.	.	NOUN
aeasj-261	56	5	1	1	NUM
aeasj-261	56	6	;	;	PUNCT
aeasj-261	56	7	2019	2019	NUM
aeasj-261	56	8	35	35	NUM
aeasj-261	56	9	so	so	ADV
aeasj-261	56	10	in	in	ADP
aeasj-261	56	11	market	market	NOUN
aeasj-261	56	12	-	-	PUNCT
aeasj-261	56	13	based	base	VERB
aeasj-261	56	14	rather	rather	ADV
aeasj-261	56	15	than	than	ADP
aeasj-261	56	16	in	in	ADP
aeasj-261	56	17	bank	bank	NOUN
aeasj-261	56	18	-	-	PUNCT
aeasj-261	56	19	based	base	VERB
aeasj-261	56	20	financial	financial	ADJ
aeasj-261	56	21	systems	system	NOUN
aeasj-261	56	22	(	(	PUNCT
aeasj-261	56	23	boyd	boyd	NOUN
aeasj-261	56	24	and	and	CCONJ
aeasj-261	56	25	prescott	prescott	PROPN
aeasj-261	56	26	,	,	PUNCT
aeasj-261	56	27	1986	1986	NUM
aeasj-261	56	28	)	)	PUNCT
aeasj-261	56	29	.	.	PUNCT
aeasj-261	57	1	the	the	DET
aeasj-261	57	2	distortions	distortion	NOUN
aeasj-261	57	3	that	that	PRON
aeasj-261	57	4	emanate	emanate	VERB
aeasj-261	57	5	from	from	ADP
aeasj-261	57	6	asymmetric	asymmetric	ADJ
aeasj-261	57	7	information	information	NOUN
aeasj-261	57	8	can	can	AUX
aeasj-261	57	9	be	be	AUX
aeasj-261	57	10	eased	ease	VERB
aeasj-261	57	11	by	by	ADP
aeasj-261	57	12	banks	bank	NOUN
aeasj-261	57	13	through	through	ADP
aeasj-261	57	14	forming	form	VERB
aeasj-261	57	15	long	long	ADJ
aeasj-261	57	16	-	-	PUNCT
aeasj-261	57	17	run	run	NOUN
aeasj-261	57	18	relationships	relationship	NOUN
aeasj-261	57	19	with	with	ADP
aeasj-261	57	20	firms	firm	NOUN
aeasj-261	57	21	and	and	CCONJ
aeasj-261	57	22	,	,	PUNCT
aeasj-261	57	23	through	through	ADP
aeasj-261	57	24	monitoring	monitoring	NOUN
aeasj-261	57	25	,	,	PUNCT
aeasj-261	57	26	to	to	PART
aeasj-261	57	27	control	control	VERB
aeasj-261	57	28	moral	moral	ADJ
aeasj-261	57	29	hazard	hazard	NOUN
aeasj-261	57	30	.	.	PUNCT
aeasj-261	58	1	consequently	consequently	ADV
aeasj-261	58	2	,	,	PUNCT
aeasj-261	58	3	scholars	scholar	NOUN
aeasj-261	58	4	(	(	PUNCT
aeasj-261	58	5	stiglitz	stiglitz	PROPN
aeasj-261	58	6	,	,	PUNCT
aeasj-261	58	7	1985	1985	NUM
aeasj-261	58	8	and	and	CCONJ
aeasj-261	58	9	,	,	PUNCT
aeasj-261	58	10	bhide	bhide	NOUN
aeasj-261	58	11	,	,	PUNCT
aeasj-261	58	12	1993	1993	NUM
aeasj-261	58	13	)	)	PUNCT
aeasj-261	58	14	assert	assert	VERB
aeasj-261	58	15	that	that	SCONJ
aeasj-261	58	16	bank	bank	NOUN
aeasj-261	58	17	-	-	PUNCT
aeasj-261	58	18	based	base	VERB
aeasj-261	58	19	financial	financial	ADJ
aeasj-261	58	20	systems	system	NOUN
aeasj-261	58	21	can	can	AUX
aeasj-261	58	22	produce	produce	VERB
aeasj-261	58	23	better	well	ADJ
aeasj-261	58	24	improvement	improvement	NOUN
aeasj-261	58	25	in	in	ADP
aeasj-261	58	26	resource	resource	NOUN
aeasj-261	58	27	allocation	allocation	NOUN
aeasj-261	58	28	and	and	CCONJ
aeasj-261	58	29	corporate	corporate	ADJ
aeasj-261	58	30	governance	governance	NOUN
aeasj-261	58	31	than	than	ADP
aeasj-261	58	32	market	market	NOUN
aeasj-261	58	33	-	-	PUNCT
aeasj-261	58	34	based	base	VERB
aeasj-261	58	35	institutions	institution	NOUN
aeasj-261	58	36	on	on	ADP
aeasj-261	58	37	the	the	DET
aeasj-261	58	38	contrary	contrary	NOUN
aeasj-261	58	39	,	,	PUNCT
aeasj-261	58	40	the	the	DET
aeasj-261	58	41	market	market	NOUN
aeasj-261	58	42	-	-	PUNCT
aeasj-261	58	43	based	base	VERB
aeasj-261	58	44	theory	theory	NOUN
aeasj-261	58	45	emphasizes	emphasize	VERB
aeasj-261	58	46	the	the	DET
aeasj-261	58	47	advantages	advantage	NOUN
aeasj-261	58	48	of	of	ADP
aeasj-261	58	49	well	well	ADV
aeasj-261	58	50	-	-	PUNCT
aeasj-261	58	51	functioning	function	VERB
aeasj-261	58	52	markets	market	NOUN
aeasj-261	58	53	,	,	PUNCT
aeasj-261	58	54	and	and	CCONJ
aeasj-261	58	55	stresses	stress	VERB
aeasj-261	58	56	the	the	DET
aeasj-261	58	57	problems	problem	NOUN
aeasj-261	58	58	of	of	ADP
aeasj-261	58	59	bank	bank	NOUN
aeasj-261	58	60	-	-	PUNCT
aeasj-261	58	61	based	base	VERB
aeasj-261	58	62	financial	financial	ADJ
aeasj-261	58	63	systems	system	NOUN
aeasj-261	58	64	.	.	PUNCT
aeasj-261	59	1	the	the	DET
aeasj-261	59	2	market	market	NOUN
aeasj-261	59	3	based	base	VERB
aeasj-261	59	4	theory	theory	NOUN
aeasj-261	59	5	opines	opine	VERB
aeasj-261	59	6	that	that	SCONJ
aeasj-261	59	7	big	big	ADJ
aeasj-261	59	8	,	,	PUNCT
aeasj-261	59	9	liquid	liquid	ADJ
aeasj-261	59	10	and	and	CCONJ
aeasj-261	59	11	well	well	ADV
aeasj-261	59	12	-	-	PUNCT
aeasj-261	59	13	developed	develop	VERB
aeasj-261	59	14	markets	market	NOUN
aeasj-261	59	15	foster	foster	ADJ
aeasj-261	59	16	growth	growth	NOUN
aeasj-261	59	17	and	and	CCONJ
aeasj-261	59	18	profit	profit	NOUN
aeasj-261	59	19	incentives	incentive	NOUN
aeasj-261	59	20	,	,	PUNCT
aeasj-261	59	21	enhance	enhance	VERB
aeasj-261	59	22	corporate	corporate	ADJ
aeasj-261	59	23	governance	governance	NOUN
aeasj-261	59	24	and	and	CCONJ
aeasj-261	59	25	,	,	PUNCT
aeasj-261	59	26	facilitate	facilitate	VERB
aeasj-261	59	27	risk	risk	NOUN
aeasj-261	59	28	management	management	NOUN
aeasj-261	59	29	(	(	PUNCT
aeasj-261	59	30	levine	levine	PROPN
aeasj-261	59	31	,	,	PUNCT
aeasj-261	59	32	2002	2002	NUM
aeasj-261	59	33	,	,	PUNCT
aeasj-261	59	34	and	and	CCONJ
aeasj-261	59	35	,	,	PUNCT
aeasj-261	59	36	beck	beck	PROPN
aeasj-261	59	37	and	and	CCONJ
aeasj-261	59	38	levine	levine	PROPN
aeasj-261	59	39	,	,	PUNCT
aeasj-261	59	40	2002	2002	NUM
aeasj-261	59	41	)	)	PUNCT
aeasj-261	59	42	.	.	PUNCT
aeasj-261	60	1	the	the	DET
aeasj-261	60	2	inefficiencies	inefficiency	NOUN
aeasj-261	60	3	that	that	PRON
aeasj-261	60	4	are	be	AUX
aeasj-261	60	5	inherent	inherent	ADJ
aeasj-261	60	6	in	in	ADP
aeasj-261	60	7	bankbased	bankbase	VERB
aeasj-261	60	8	system	system	NOUN
aeasj-261	60	9	as	as	SCONJ
aeasj-261	60	10	stressed	stress	VERB
aeasj-261	60	11	by	by	ADP
aeasj-261	60	12	levine	levine	PROPN
aeasj-261	60	13	(	(	PUNCT
aeasj-261	60	14	2002	2002	NUM
aeasj-261	60	15	)	)	PUNCT
aeasj-261	60	16	can	can	AUX
aeasj-261	60	17	hinder	hinder	VERB
aeasj-261	60	18	firm	firm	ADJ
aeasj-261	60	19	innovation	innovation	NOUN
aeasj-261	60	20	.	.	PUNCT
aeasj-261	61	1	for	for	ADP
aeasj-261	61	2	instance	instance	NOUN
aeasj-261	61	3	,	,	PUNCT
aeasj-261	61	4	once	once	SCONJ
aeasj-261	61	5	banks	bank	NOUN
aeasj-261	61	6	acquire	acquire	VERB
aeasj-261	61	7	substantial	substantial	ADJ
aeasj-261	61	8	inside	inside	ADJ
aeasj-261	61	9	information	information	NOUN
aeasj-261	61	10	about	about	ADP
aeasj-261	61	11	firms	firm	NOUN
aeasj-261	61	12	in	in	ADP
aeasj-261	61	13	the	the	DET
aeasj-261	61	14	process	process	NOUN
aeasj-261	61	15	of	of	ADP
aeasj-261	61	16	financing	financing	NOUN
aeasj-261	61	17	firms	firm	NOUN
aeasj-261	61	18	,	,	PUNCT
aeasj-261	61	19	banks	bank	NOUN
aeasj-261	61	20	can	can	AUX
aeasj-261	61	21	extract	extract	VERB
aeasj-261	61	22	rents	rent	NOUN
aeasj-261	61	23	from	from	ADP
aeasj-261	61	24	firms	firm	NOUN
aeasj-261	61	25	and	and	CCONJ
aeasj-261	61	26	,	,	PUNCT
aeasj-261	61	27	firms	firm	NOUN
aeasj-261	61	28	must	must	AUX
aeasj-261	61	29	pay	pay	VERB
aeasj-261	61	30	for	for	ADP
aeasj-261	61	31	their	their	PRON
aeasj-261	61	32	greater	great	ADJ
aeasj-261	61	33	access	access	NOUN
aeasj-261	61	34	to	to	ADP
aeasj-261	61	35	capital	capital	NOUN
aeasj-261	61	36	.	.	PUNCT
aeasj-261	62	1	in	in	ADP
aeasj-261	62	2	terms	term	NOUN
aeasj-261	62	3	of	of	ADP
aeasj-261	62	4	new	new	ADJ
aeasj-261	62	5	investments	investment	NOUN
aeasj-261	62	6	or	or	CCONJ
aeasj-261	62	7	debt	debt	NOUN
aeasj-261	62	8	renegotiations	renegotiation	NOUN
aeasj-261	62	9	,	,	PUNCT
aeasj-261	62	10	powerful	powerful	ADJ
aeasj-261	62	11	banks	bank	NOUN
aeasj-261	62	12	can	can	AUX
aeasj-261	62	13	extract	extract	VERB
aeasj-261	62	14	more	more	ADJ
aeasj-261	62	15	of	of	ADP
aeasj-261	62	16	the	the	DET
aeasj-261	62	17	expected	expect	VERB
aeasj-261	62	18	future	future	ADJ
aeasj-261	62	19	profits	profit	NOUN
aeasj-261	62	20	from	from	ADP
aeasj-261	62	21	the	the	DET
aeasj-261	62	22	firm	firm	NOUN
aeasj-261	62	23	than	than	ADP
aeasj-261	62	24	in	in	ADP
aeasj-261	62	25	a	a	DET
aeasj-261	62	26	market	market	NOUN
aeasj-261	62	27	-	-	PUNCT
aeasj-261	62	28	base	base	NOUN
aeasj-261	62	29	system	system	NOUN
aeasj-261	62	30	(	(	PUNCT
aeasj-261	62	31	hellwig	hellwig	NOUN
aeasj-261	62	32	,	,	PUNCT
aeasj-261	62	33	1991	1991	NUM
aeasj-261	62	34	)	)	PUNCT
aeasj-261	62	35	.	.	PUNCT
aeasj-261	63	1	this	this	DET
aeasj-261	63	2	ability	ability	NOUN
aeasj-261	63	3	to	to	PART
aeasj-261	63	4	extract	extract	VERB
aeasj-261	63	5	part	part	NOUN
aeasj-261	63	6	of	of	ADP
aeasj-261	63	7	the	the	DET
aeasj-261	63	8	expected	expect	VERB
aeasj-261	63	9	revenue	revenue	NOUN
aeasj-261	63	10	to	to	ADP
aeasj-261	63	11	potentially	potentially	ADV
aeasj-261	63	12	profitable	profitable	ADJ
aeasj-261	63	13	investments	investment	NOUN
aeasj-261	63	14	may	may	AUX
aeasj-261	63	15	limit	limit	VERB
aeasj-261	63	16	the	the	DET
aeasj-261	63	17	firm	firm	NOUN
aeasj-261	63	18	’s	’s	PART
aeasj-261	63	19	effort	effort	NOUN
aeasj-261	63	20	to	to	PART
aeasj-261	63	21	undertake	undertake	VERB
aeasj-261	63	22	innovative	innovative	ADJ
aeasj-261	63	23	and	and	CCONJ
aeasj-261	63	24	profitable	profitable	ADJ
aeasj-261	63	25	ventures	venture	NOUN
aeasj-261	63	26	(	(	PUNCT
aeasj-261	63	27	rajan	rajan	PROPN
aeasj-261	63	28	,	,	PUNCT
aeasj-261	63	29	1992	1992	NUM
aeasj-261	63	30	)	)	PUNCT
aeasj-261	63	31	.	.	PUNCT
aeasj-261	64	1	also	also	ADV
aeasj-261	64	2	,	,	PUNCT
aeasj-261	64	3	with	with	ADP
aeasj-261	64	4	the	the	DET
aeasj-261	64	5	acquire	acquire	NOUN
aeasj-261	64	6	substantial	substantial	ADJ
aeasj-261	64	7	inside	inside	ADJ
aeasj-261	64	8	information	information	NOUN
aeasj-261	64	9	about	about	ADP
aeasj-261	64	10	firms	firm	NOUN
aeasj-261	64	11	,	,	PUNCT
aeasj-261	64	12	the	the	DET
aeasj-261	64	13	bank	bank	NOUN
aeasj-261	64	14	can	can	AUX
aeasj-261	64	15	conspire	conspire	VERB
aeasj-261	64	16	with	with	ADP
aeasj-261	64	17	firm	firm	ADJ
aeasj-261	64	18	managers	manager	NOUN
aeasj-261	64	19	against	against	ADP
aeasj-261	64	20	outsiders	outsider	NOUN
aeasj-261	64	21	,	,	PUNCT
aeasj-261	64	22	which	which	PRON
aeasj-261	64	23	in	in	ADP
aeasj-261	64	24	turn	turn	NOUN
aeasj-261	64	25	hampers	hamper	VERB
aeasj-261	64	26	competition	competition	NOUN
aeasj-261	64	27	,	,	PUNCT
aeasj-261	64	28	corporate	corporate	ADJ
aeasj-261	64	29	controls	control	NOUN
aeasj-261	64	30	,	,	PUNCT
aeasj-261	64	31	the	the	DET
aeasj-261	64	32	creation	creation	NOUN
aeasj-261	64	33	of	of	ADP
aeasj-261	64	34	new	new	ADJ
aeasj-261	64	35	firms	firm	NOUN
aeasj-261	64	36	,	,	PUNCT
aeasj-261	64	37	and	and	CCONJ
aeasj-261	64	38	long	long	ADV
aeasj-261	64	39	-	-	PUNCT
aeasj-261	64	40	run	run	VERB
aeasj-261	64	41	economic	economic	ADJ
aeasj-261	64	42	growth	growth	NOUN
aeasj-261	64	43	(	(	PUNCT
aeasj-261	64	44	hellwig	hellwig	PROPN
aeasj-261	64	45	,	,	PUNCT
aeasj-261	64	46	1998	1998	NUM
aeasj-261	64	47	)	)	PUNCT
aeasj-261	64	48	.	.	PUNCT
aeasj-261	65	1	market	market	NOUN
aeasj-261	65	2	-	-	PUNCT
aeasj-261	65	3	based	base	VERB
aeasj-261	65	4	financial	financial	ADJ
aeasj-261	65	5	systems	system	NOUN
aeasj-261	65	6	reduce	reduce	VERB
aeasj-261	65	7	the	the	DET
aeasj-261	65	8	inherent	inherent	ADJ
aeasj-261	65	9	inefficiencies	inefficiency	NOUN
aeasj-261	65	10	associated	associate	VERB
aeasj-261	65	11	with	with	ADP
aeasj-261	65	12	banks	bank	NOUN
aeasj-261	65	13	and	and	CCONJ
aeasj-261	65	14	are	be	AUX
aeasj-261	65	15	,	,	PUNCT
aeasj-261	65	16	thus	thus	ADV
aeasj-261	65	17	,	,	PUNCT
aeasj-261	65	18	better	well	ADV
aeasj-261	65	19	at	at	ADP
aeasj-261	65	20	enhancing	enhance	VERB
aeasj-261	65	21	economic	economic	ADJ
aeasj-261	65	22	development	development	NOUN
aeasj-261	65	23	and	and	CCONJ
aeasj-261	65	24	growth	growth	NOUN
aeasj-261	65	25	.	.	PUNCT
aeasj-261	66	1	in	in	ADP
aeasj-261	66	2	a	a	DET
aeasj-261	66	3	related	related	ADJ
aeasj-261	66	4	study	study	NOUN
aeasj-261	66	5	,	,	PUNCT
aeasj-261	66	6	boyd	boyd	PROPN
aeasj-261	66	7	and	and	CCONJ
aeasj-261	66	8	smith	smith	PROPN
aeasj-261	66	9	(	(	PUNCT
aeasj-261	66	10	1998	1998	NUM
aeasj-261	66	11	)	)	PUNCT
aeasj-261	66	12	demonstrated	demonstrate	VERB
aeasj-261	66	13	that	that	SCONJ
aeasj-261	66	14	financial	financial	ADJ
aeasj-261	66	15	structure	structure	NOUN
aeasj-261	66	16	changes	change	NOUN
aeasj-261	66	17	as	as	SCONJ
aeasj-261	66	18	countries	country	NOUN
aeasj-261	66	19	go	go	VERB
aeasj-261	66	20	through	through	ADP
aeasj-261	66	21	different	different	ADJ
aeasj-261	66	22	stages	stage	NOUN
aeasj-261	66	23	of	of	ADP
aeasj-261	66	24	development	development	NOUN
aeasj-261	66	25	,	,	PUNCT
aeasj-261	66	26	and	and	CCONJ
aeasj-261	66	27	the	the	DET
aeasj-261	66	28	countries	country	NOUN
aeasj-261	66	29	become	become	VERB
aeasj-261	66	30	more	more	ADJ
aeasj-261	66	31	market	market	NOUN
aeasj-261	66	32	-	-	PUNCT
aeasj-261	66	33	based	base	VERB
aeasj-261	66	34	as	as	ADP
aeasj-261	66	35	development	development	NOUN
aeasj-261	66	36	proceeds	proceed	NOUN
aeasj-261	66	37	.	.	PUNCT
aeasj-261	67	1	the	the	DET
aeasj-261	67	2	financial	financial	ADJ
aeasj-261	67	3	services	service	NOUN
aeasj-261	67	4	view	view	NOUN
aeasj-261	67	5	theory	theory	NOUN
aeasj-261	67	6	is	be	AUX
aeasj-261	67	7	consistent	consistent	ADJ
aeasj-261	67	8	with	with	ADP
aeasj-261	67	9	both	both	CCONJ
aeasj-261	67	10	the	the	DET
aeasj-261	67	11	bank	bank	NOUN
aeasj-261	67	12	-	-	PUNCT
aeasj-261	67	13	based	base	VERB
aeasj-261	67	14	and	and	CCONJ
aeasj-261	67	15	the	the	DET
aeasj-261	67	16	market	market	NOUN
aeasj-261	67	17	-	-	PUNCT
aeasj-261	67	18	based	base	VERB
aeasj-261	67	19	views	view	NOUN
aeasj-261	67	20	(	(	PUNCT
aeasj-261	67	21	merton	merton	NOUN
aeasj-261	67	22	and	and	CCONJ
aeasj-261	67	23	bodie	bodie	PROPN
aeasj-261	67	24	,	,	PUNCT
aeasj-261	67	25	1995	1995	NUM
aeasj-261	67	26	and	and	CCONJ
aeasj-261	67	27	,	,	PUNCT
aeasj-261	67	28	levine	levine	PROPN
aeasj-261	67	29	,	,	PUNCT
aeasj-261	67	30	1997	1997	NUM
aeasj-261	67	31	)	)	PUNCT
aeasj-261	67	32	.	.	PUNCT
aeasj-261	68	1	it	it	PRON
aeasj-261	68	2	embraces	embrace	VERB
aeasj-261	68	3	both	both	PRON
aeasj-261	68	4	,	,	PUNCT
aeasj-261	68	5	but	but	CCONJ
aeasj-261	68	6	downplays	downplay	VERB
aeasj-261	68	7	their	their	PRON
aeasj-261	68	8	importance	importance	NOUN
aeasj-261	68	9	in	in	ADP
aeasj-261	68	10	the	the	DET
aeasj-261	68	11	sense	sense	NOUN
aeasj-261	68	12	that	that	SCONJ
aeasj-261	68	13	the	the	DET
aeasj-261	68	14	distinction	distinction	NOUN
aeasj-261	68	15	between	between	ADP
aeasj-261	68	16	bank	bank	NOUN
aeasj-261	68	17	-	-	PUNCT
aeasj-261	68	18	based	base	VERB
aeasj-261	68	19	and	and	CCONJ
aeasj-261	68	20	market	market	NOUN
aeasj-261	68	21	-	-	PUNCT
aeasj-261	68	22	based	base	VERB
aeasj-261	68	23	financial	financial	ADJ
aeasj-261	68	24	systems	system	NOUN
aeasj-261	68	25	matters	matter	VERB
aeasj-261	68	26	less	less	ADJ
aeasj-261	68	27	than	than	SCONJ
aeasj-261	68	28	was	be	AUX
aeasj-261	68	29	previously	previously	ADV
aeasj-261	68	30	thought	think	VERB
aeasj-261	68	31	.	.	PUNCT
aeasj-261	69	1	however	however	ADV
aeasj-261	69	2	,	,	PUNCT
aeasj-261	69	3	according	accord	VERB
aeasj-261	69	4	to	to	ADP
aeasj-261	69	5	world	world	PROPN
aeasj-261	69	6	bank	bank	PROPN
aeasj-261	69	7	(	(	PUNCT
aeasj-261	69	8	2001	2001	NUM
aeasj-261	69	9	)	)	PUNCT
aeasj-261	69	10	,	,	PUNCT
aeasj-261	69	11	it	it	PRON
aeasj-261	69	12	is	be	AUX
aeasj-261	69	13	the	the	DET
aeasj-261	69	14	financial	financial	ADJ
aeasj-261	69	15	services	service	NOUN
aeasj-261	69	16	itself	itself	PRON
aeasj-261	69	17	that	that	PRON
aeasj-261	69	18	are	be	AUX
aeasj-261	69	19	by	by	ADP
aeasj-261	69	20	far	far	ADV
aeasj-261	69	21	more	more	ADV
aeasj-261	69	22	important	important	ADJ
aeasj-261	69	23	than	than	ADP
aeasj-261	69	24	the	the	DET
aeasj-261	69	25	form	form	NOUN
aeasj-261	69	26	of	of	ADP
aeasj-261	69	27	their	their	PRON
aeasj-261	69	28	delivery	delivery	NOUN
aeasj-261	69	29	.	.	PUNCT
aeasj-261	70	1	in	in	ADP
aeasj-261	70	2	financial	financial	ADJ
aeasj-261	70	3	services	service	NOUN
aeasj-261	70	4	view	view	NOUN
aeasj-261	70	5	theory	theory	NOUN
aeasj-261	70	6	,	,	PUNCT
aeasj-261	70	7	the	the	DET
aeasj-261	70	8	issue	issue	NOUN
aeasj-261	70	9	is	be	AUX
aeasj-261	70	10	not	not	PART
aeasj-261	70	11	the	the	DET
aeasj-261	70	12	source	source	NOUN
aeasj-261	70	13	of	of	ADP
aeasj-261	70	14	finance	finance	NOUN
aeasj-261	70	15	,	,	PUNCT
aeasj-261	70	16	but	but	CCONJ
aeasj-261	70	17	the	the	DET
aeasj-261	70	18	creation	creation	NOUN
aeasj-261	70	19	of	of	ADP
aeasj-261	70	20	an	an	DET
aeasj-261	70	21	environment	environment	NOUN
aeasj-261	70	22	where	where	SCONJ
aeasj-261	70	23	financial	financial	ADJ
aeasj-261	70	24	services	service	NOUN
aeasj-261	70	25	are	be	AUX
aeasj-261	70	26	soundly	soundly	ADV
aeasj-261	70	27	and	and	CCONJ
aeasj-261	70	28	efficiently	efficiently	ADV
aeasj-261	70	29	provided	provide	VERB
aeasj-261	70	30	.	.	PUNCT
aeasj-261	71	1	the	the	DET
aeasj-261	71	2	focus	focus	NOUN
aeasj-261	71	3	of	of	ADP
aeasj-261	71	4	this	this	DET
aeasj-261	71	5	view	view	NOUN
aeasj-261	71	6	is	be	AUX
aeasj-261	71	7	on	on	ADP
aeasj-261	71	8	the	the	DET
aeasj-261	71	9	creation	creation	NOUN
aeasj-261	71	10	of	of	ADP
aeasj-261	71	11	better	well	ADJ
aeasj-261	71	12	functioning	function	VERB
aeasj-261	71	13	banks	bank	NOUN
aeasj-261	71	14	and	and	CCONJ
aeasj-261	71	15	markets	market	NOUN
aeasj-261	71	16	rather	rather	ADV
aeasj-261	71	17	than	than	ADP
aeasj-261	71	18	on	on	ADP
aeasj-261	71	19	a	a	DET
aeasj-261	71	20	particular	particular	ADJ
aeasj-261	71	21	type	type	NOUN
aeasj-261	71	22	of	of	ADP
aeasj-261	71	23	financial	financial	ADJ
aeasj-261	71	24	structure	structure	NOUN
aeasj-261	71	25	in	in	ADP
aeasj-261	71	26	place	place	NOUN
aeasj-261	71	27	.	.	PUNCT
aeasj-261	72	1	also	also	ADV
aeasj-261	72	2	,	,	PUNCT
aeasj-261	72	3	the	the	DET
aeasj-261	72	4	financial	financial	ADJ
aeasj-261	72	5	services	service	NOUN
aeasj-261	72	6	theory	theory	NOUN
aeasj-261	72	7	suggests	suggest	VERB
aeasj-261	72	8	that	that	SCONJ
aeasj-261	72	9	neither	neither	CCONJ
aeasj-261	72	10	banks	bank	NOUN
aeasj-261	72	11	nor	nor	CCONJ
aeasj-261	72	12	markets	market	NOUN
aeasj-261	72	13	matter	matter	NOUN
aeasj-261	72	14	,	,	PUNCT
aeasj-261	72	15	rather	rather	ADV
aeasj-261	72	16	the	the	DET
aeasj-261	72	17	combination	combination	NOUN
aeasj-261	72	18	of	of	ADP
aeasj-261	72	19	both	both	PRON
aeasj-261	72	20	.	.	PUNCT
aeasj-261	73	1	thus	thus	ADV
aeasj-261	73	2	,	,	PUNCT
aeasj-261	73	3	financial	financial	ADJ
aeasj-261	73	4	services	service	NOUN
aeasj-261	73	5	view	view	NOUN
aeasj-261	73	6	focuses	focus	VERB
aeasj-261	73	7	on	on	ADP
aeasj-261	73	8	how	how	SCONJ
aeasj-261	73	9	to	to	PART
aeasj-261	73	10	create	create	VERB
aeasj-261	73	11	better	well	ADV
aeasj-261	73	12	functioning	function	VERB
aeasj-261	73	13	banks	bank	NOUN
aeasj-261	73	14	and	and	CCONJ
aeasj-261	73	15	markets	market	NOUN
aeasj-261	73	16	,	,	PUNCT
aeasj-261	73	17	and	and	CCONJ
aeasj-261	73	18	not	not	PART
aeasj-261	73	19	the	the	DET
aeasj-261	73	20	bank	bank	NOUN
aeasj-261	73	21	-	-	PUNCT
aeasj-261	73	22	based	base	VERB
aeasj-261	73	23	versus	versus	ADP
aeasj-261	73	24	market	market	NOUN
aeasj-261	73	25	-	-	PUNCT
aeasj-261	73	26	based	base	VERB
aeasj-261	73	27	debate	debate	NOUN
aeasj-261	73	28	.	.	PUNCT
aeasj-261	74	1	there	there	PRON
aeasj-261	74	2	are	be	VERB
aeasj-261	74	3	different	different	ADJ
aeasj-261	74	4	components	component	NOUN
aeasj-261	74	5	of	of	ADP
aeasj-261	74	6	the	the	DET
aeasj-261	74	7	financial	financial	ADJ
aeasj-261	74	8	system	system	NOUN
aeasj-261	74	9	;	;	PUNCT
aeasj-261	74	10	but	but	CCONJ
aeasj-261	74	11	do	do	AUX
aeasj-261	74	12	not	not	PART
aeasj-261	74	13	compete	compete	VERB
aeasj-261	74	14	each	each	DET
aeasj-261	74	15	other	other	ADJ
aeasj-261	74	16	,	,	PUNCT
aeasj-261	74	17	but	but	CCONJ
aeasj-261	74	18	ameliorate	ameliorate	VERB
aeasj-261	74	19	different	different	ADJ
aeasj-261	74	20	costs	cost	NOUN
aeasj-261	74	21	like	like	ADP
aeasj-261	74	22	transaction	transaction	NOUN
aeasj-261	74	23	and	and	CCONJ
aeasj-261	74	24	information	information	NOUN
aeasj-261	74	25	cost	cost	NOUN
aeasj-261	74	26	in	in	ADP
aeasj-261	74	27	the	the	DET
aeasj-261	74	28	system	system	NOUN
aeasj-261	74	29	(	(	PUNCT
aeasj-261	74	30	boyd	boyd	PROPN
aeasj-261	74	31	and	and	CCONJ
aeasj-261	74	32	smith	smith	PROPN
aeasj-261	74	33	,	,	PUNCT
aeasj-261	74	34	1998	1998	NUM
aeasj-261	74	35	,	,	PUNCT
aeasj-261	74	36	levine	levine	PROPN
aeasj-261	74	37	,	,	PUNCT
aeasj-261	74	38	1997	1997	NUM
aeasj-261	74	39	and	and	CCONJ
aeasj-261	74	40	,	,	PUNCT
aeasj-261	74	41	demirguc	demirguc	PROPN
aeasj-261	74	42	-	-	PUNCT
aeasj-261	74	43	kunt	kunt	PROPN
aeasj-261	74	44	and	and	CCONJ
aeasj-261	74	45	levine	levine	PROPN
aeasj-261	74	46	,	,	PUNCT
aeasj-261	74	47	2001	2001	NUM
aeasj-261	74	48	)	)	PUNCT
aeasj-261	74	49	.	.	PUNCT
aeasj-261	75	1	under	under	ADP
aeasj-261	75	2	these	these	DET
aeasj-261	75	3	circumstances	circumstance	NOUN
aeasj-261	75	4	,	,	PUNCT
aeasj-261	75	5	financial	financial	ADJ
aeasj-261	75	6	arrangements	arrangement	NOUN
aeasj-261	75	7	focuses	focus	VERB
aeasj-261	75	8	on	on	ADP
aeasj-261	75	9	ameliorating	ameliorate	VERB
aeasj-261	75	10	market	market	NOUN
aeasj-261	75	11	imperfections	imperfection	NOUN
aeasj-261	75	12	and	and	CCONJ
aeasj-261	75	13	provide	provide	VERB
aeasj-261	75	14	financial	financial	ADJ
aeasj-261	75	15	services	service	NOUN
aeasj-261	75	16	that	that	PRON
aeasj-261	75	17	are	be	AUX
aeasj-261	75	18	well	well	ADV
aeasj-261	75	19	placed	place	VERB
aeasj-261	75	20	to	to	PART
aeasj-261	75	21	facilitate	facilitate	VERB
aeasj-261	75	22	savings	saving	NOUN
aeasj-261	75	23	mobilization	mobilization	NOUN
aeasj-261	75	24	and	and	CCONJ
aeasj-261	75	25	risk	risk	NOUN
aeasj-261	75	26	management	management	NOUN
aeasj-261	75	27	,	,	PUNCT
aeasj-261	75	28	assess	assess	VERB
aeasj-261	75	29	potential	potential	ADJ
aeasj-261	75	30	investment	investment	NOUN
aeasj-261	75	31	opportunities	opportunity	NOUN
aeasj-261	75	32	,	,	PUNCT
aeasj-261	75	33	exert	exert	VERB
aeasj-261	75	34	corporate	corporate	ADJ
aeasj-261	75	35	control	control	NOUN
aeasj-261	75	36	,	,	PUNCT
aeasj-261	75	37	and	and	CCONJ
aeasj-261	75	38	enhance	enhance	VERB
aeasj-261	75	39	liquidity	liquidity	NOUN
aeasj-261	75	40	.	.	PUNCT
aeasj-261	76	1	the	the	DET
aeasj-261	76	2	legal	legal	ADJ
aeasj-261	76	3	-	-	PUNCT
aeasj-261	76	4	based	base	VERB
aeasj-261	76	5	view	view	NOUN
aeasj-261	76	6	theory	theory	NOUN
aeasj-261	76	7	is	be	AUX
aeasj-261	76	8	an	an	DET
aeasj-261	76	9	extension	extension	NOUN
aeasj-261	76	10	of	of	ADP
aeasj-261	76	11	the	the	DET
aeasj-261	76	12	financial	financial	ADJ
aeasj-261	76	13	services	service	NOUN
aeasj-261	76	14	view	view	VERB
aeasj-261	76	15	and	and	CCONJ
aeasj-261	76	16	also	also	ADV
aeasj-261	76	17	rejects	reject	VERB
aeasj-261	76	18	the	the	DET
aeasj-261	76	19	bank	bank	NOUN
aeasj-261	76	20	-	-	PUNCT
aeasj-261	76	21	based	base	VERB
aeasj-261	76	22	versus	versus	ADP
aeasj-261	76	23	market	market	NOUN
aeasj-261	76	24	-	-	PUNCT
aeasj-261	76	25	based	base	VERB
aeasj-261	76	26	debate	debate	NOUN
aeasj-261	76	27	.	.	PUNCT
aeasj-261	77	1	the	the	DET
aeasj-261	77	2	theory	theory	NOUN
aeasj-261	77	3	stresses	stress	VERB
aeasj-261	77	4	the	the	DET
aeasj-261	77	5	role	role	NOUN
aeasj-261	77	6	of	of	ADP
aeasj-261	77	7	creditor	creditor	NOUN
aeasj-261	77	8	and	and	CCONJ
aeasj-261	77	9	investor	investor	NOUN
aeasj-261	77	10	rights	right	NOUN
aeasj-261	77	11	for	for	ADP
aeasj-261	77	12	financial	financial	ADJ
aeasj-261	77	13	intermediation	intermediation	NOUN
aeasj-261	77	14	(	(	PUNCT
aeasj-261	77	15	laporta	laporta	PROPN
aeasj-261	77	16	,	,	PUNCT
aeasj-261	77	17	lopez	lopez	NOUN
aeasj-261	77	18	-	-	PUNCT
aeasj-261	77	19	de	de	NOUN
aeasj-261	77	20	-	-	NOUN
aeasj-261	77	21	silanes	silane	NOUN
aeasj-261	77	22	,	,	PUNCT
aeasj-261	77	23	shleifer	shleifer	NOUN
aeasj-261	77	24	,	,	PUNCT
aeasj-261	77	25	and	and	CCONJ
aeasj-261	77	26	vishny	vishny	PROPN
aeasj-261	77	27	,	,	PUNCT
aeasj-261	77	28	1998	1998	NUM
aeasj-261	77	29	)	)	PUNCT
aeasj-261	77	30	.	.	PUNCT
aeasj-261	78	1	it	it	PRON
aeasj-261	78	2	is	be	AUX
aeasj-261	78	3	the	the	DET
aeasj-261	78	4	legal	legal	ADJ
aeasj-261	78	5	system	system	NOUN
aeasj-261	78	6	that	that	PRON
aeasj-261	78	7	make	make	VERB
aeasj-261	78	8	and	and	CCONJ
aeasj-261	78	9	enforces	enforce	VERB
aeasj-261	78	10	these	these	DET
aeasj-261	78	11	rights	right	NOUN
aeasj-261	78	12	.	.	PUNCT
aeasj-261	79	1	from	from	ADP
aeasj-261	79	2	this	this	DET
aeasj-261	79	3	perspective	perspective	NOUN
aeasj-261	79	4	,	,	PUNCT
aeasj-261	79	5	a	a	DET
aeasj-261	79	6	well	well	ADV
aeasj-261	79	7	functioning	function	VERB
aeasj-261	79	8	legal	legal	ADJ
aeasj-261	79	9	system	system	NOUN
aeasj-261	79	10	facilitates	facilitate	VERB
aeasj-261	79	11	the	the	DET
aeasj-261	79	12	operation	operation	NOUN
aeasj-261	79	13	of	of	ADP
aeasj-261	79	14	both	both	DET
aeasj-261	79	15	markets	market	NOUN
aeasj-261	79	16	and	and	CCONJ
aeasj-261	79	17	intermediaries	intermediary	NOUN
aeasj-261	79	18	in	in	ADP
aeasj-261	79	19	providing	provide	VERB
aeasj-261	79	20	services	service	NOUN
aeasj-261	79	21	to	to	ADP
aeasj-261	79	22	the	the	DET
aeasj-261	79	23	private	private	ADJ
aeasj-261	79	24	sector	sector	NOUN
aeasj-261	79	25	.	.	PUNCT
aeasj-261	80	1	it	it	PRON
aeasj-261	80	2	is	be	AUX
aeasj-261	80	3	the	the	DET
aeasj-261	80	4	overall	overall	ADJ
aeasj-261	80	5	level	level	NOUN
aeasj-261	80	6	and	and	CCONJ
aeasj-261	80	7	quality	quality	NOUN
aeasj-261	80	8	of	of	ADP
aeasj-261	80	9	financial	financial	ADJ
aeasj-261	80	10	services	service	NOUN
aeasj-261	80	11	–	–	PUNCT
aeasj-261	80	12	as	as	SCONJ
aeasj-261	80	13	determined	determine	VERB
aeasj-261	80	14	by	by	ADP
aeasj-261	80	15	the	the	DET
aeasj-261	80	16	legal	legal	ADJ
aeasj-261	80	17	system	system	NOUN
aeasj-261	80	18	–	–	PUNCT
aeasj-261	80	19	that	that	PRON
aeasj-261	80	20	improves	improve	VERB
aeasj-261	80	21	the	the	DET
aeasj-261	80	22	efficient	efficient	ADJ
aeasj-261	80	23	allocation	allocation	NOUN
aeasj-261	80	24	of	of	ADP
aeasj-261	80	25	resources	resource	NOUN
aeasj-261	80	26	and	and	CCONJ
aeasj-261	80	27	economic	economic	ADJ
aeasj-261	80	28	growth	growth	NOUN
aeasj-261	80	29	.	.	PUNCT
aeasj-261	81	1	empirical	empirical	ADJ
aeasj-261	81	2	review	review	NOUN
aeasj-261	81	3	a	a	DET
aeasj-261	81	4	number	number	NOUN
aeasj-261	81	5	of	of	ADP
aeasj-261	81	6	empirical	empirical	ADJ
aeasj-261	81	7	studies	study	NOUN
aeasj-261	81	8	have	have	AUX
aeasj-261	81	9	been	be	AUX
aeasj-261	81	10	conducted	conduct	VERB
aeasj-261	81	11	on	on	ADP
aeasj-261	81	12	relative	relative	ADJ
aeasj-261	81	13	importance	importance	NOUN
aeasj-261	81	14	of	of	ADP
aeasj-261	81	15	bank	bank	NOUN
aeasj-261	81	16	-	-	PUNCT
aeasj-261	81	17	based	base	VERB
aeasj-261	81	18	system	system	NOUN
aeasj-261	81	19	and	and	CCONJ
aeasj-261	81	20	market	market	NOUN
aeasj-261	81	21	-	-	PUNCT
aeasj-261	81	22	based	base	VERB
aeasj-261	81	23	system	system	NOUN
aeasj-261	81	24	in	in	ADP
aeasj-261	81	25	stimulating	stimulate	VERB
aeasj-261	81	26	economic	economic	ADJ
aeasj-261	81	27	growth	growth	NOUN
aeasj-261	81	28	.	.	PUNCT
aeasj-261	82	1	these	these	DET
aeasj-261	82	2	studies	study	NOUN
aeasj-261	82	3	were	be	AUX
aeasj-261	82	4	done	do	VERB
aeasj-261	82	5	on	on	ADP
aeasj-261	82	6	country	country	NOUN
aeasj-261	82	7	-	-	PUNCT
aeasj-261	82	8	specific	specific	ADJ
aeasj-261	82	9	as	as	ADV
aeasj-261	82	10	well	well	ADV
aeasj-261	82	11	as	as	ADP
aeasj-261	82	12	cross	cross	ADJ
aeasj-261	82	13	-	-	ADJ
aeasj-261	82	14	country	country	ADJ
aeasj-261	82	15	approach	approach	NOUN
aeasj-261	82	16	.	.	PUNCT
aeasj-261	83	1	studies	study	NOUN
aeasj-261	83	2	on	on	ADP
aeasj-261	83	3	germany	germany	PROPN
aeasj-261	83	4	and	and	CCONJ
aeasj-261	83	5	japan	japan	PROPN
aeasj-261	83	6	use	use	VERB
aeasj-261	83	7	measures	measure	NOUN
aeasj-261	83	8	of	of	ADP
aeasj-261	83	9	whether	whether	SCONJ
aeasj-261	83	10	banks	bank	NOUN
aeasj-261	83	11	own	own	VERB
aeasj-261	83	12	shares	share	NOUN
aeasj-261	83	13	or	or	CCONJ
aeasj-261	83	14	whether	whether	SCONJ
aeasj-261	83	15	a	a	DET
aeasj-261	83	16	company	company	NOUN
aeasj-261	83	17	has	have	VERB
aeasj-261	83	18	a	a	DET
aeasj-261	83	19	‘	'	PUNCT
aeasj-261	83	20	main	main	ADJ
aeasj-261	83	21	bank	bank	NOUN
aeasj-261	83	22	’	'	PUNCT
aeasj-261	83	23	respectively	respectively	ADV
aeasj-261	83	24	(	(	PUNCT
aeasj-261	83	25	hoshi	hoshi	PROPN
aeasj-261	83	26	et	et	PROPN
aeasj-261	83	27	al	al	PROPN
aeasj-261	83	28	.	.	PROPN
aeasj-261	83	29	,	,	PUNCT
aeasj-261	83	30	1991	1991	NUM
aeasj-261	83	31	,	,	PUNCT
aeasj-261	83	32	mork	mork	NOUN
aeasj-261	83	33	and	and	CCONJ
aeasj-261	83	34	nakamura,1999	nakamura,1999	PROPN
aeasj-261	83	35	and	and	CCONJ
aeasj-261	83	36	,	,	PUNCT
aeasj-261	83	37	weinstein	weinstein	PROPN
aeasj-261	83	38	and	and	CCONJ
aeasj-261	83	39	yafeh	yafeh	NOUN
aeasj-261	83	40	,	,	PUNCT
aeasj-261	83	41	1998	1998	NUM
aeasj-261	83	42	)	)	PUNCT
aeasj-261	83	43	.	.	PUNCT
aeasj-261	84	1	these	these	DET
aeasj-261	84	2	studies	study	NOUN
aeasj-261	84	3	provide	provide	VERB
aeasj-261	84	4	evidence	evidence	NOUN
aeasj-261	84	5	that	that	PRON
aeasj-261	84	6	view	view	VERB
aeasj-261	84	7	germany	germany	PROPN
aeasj-261	84	8	and	and	CCONJ
aeasj-261	84	9	japan	japan	PROPN
aeasj-261	84	10	as	as	ADP
aeasj-261	84	11	bank	bank	NOUN
aeasj-261	84	12	-	-	PUNCT
aeasj-261	84	13	based	base	VERB
aeasj-261	84	14	systems	system	NOUN
aeasj-261	84	15	.	.	PUNCT
aeasj-261	85	1	this	this	PRON
aeasj-261	85	2	confirms	confirm	VERB
aeasj-261	85	3	the	the	DET
aeasj-261	85	4	distinction	distinction	NOUN
aeasj-261	85	5	between	between	ADP
aeasj-261	85	6	bank	bank	PROPN
aeasj-261	85	7	based	base	VERB
aeasj-261	85	8	and	and	CCONJ
aeasj-261	85	9	market	market	NOUN
aeasj-261	85	10	-	-	PUNCT
aeasj-261	85	11	based	base	VERB
aeasj-261	85	12	financial	financial	ADJ
aeasj-261	85	13	systems	system	NOUN
aeasj-261	85	14	.	.	PUNCT
aeasj-261	86	1	however	however	ADV
aeasj-261	86	2	,	,	PUNCT
aeasj-261	86	3	a	a	DET
aeasj-261	86	4	reassessment	reassessment	NOUN
aeasj-261	86	5	of	of	ADP
aeasj-261	86	6	the	the	DET
aeasj-261	86	7	japanese	japanese	ADJ
aeasj-261	86	8	financial	financial	ADJ
aeasj-261	86	9	system	system	NOUN
aeasj-261	86	10	benefits	benefit	NOUN
aeasj-261	86	11	in	in	ADP
aeasj-261	86	12	view	view	NOUN
aeasj-261	86	13	of	of	ADP
aeasj-261	86	14	the	the	DET
aeasj-261	86	15	economy	economy	NOUN
aeasj-261	86	16	’s	’s	PART
aeasj-261	86	17	poor	poor	ADJ
aeasj-261	86	18	performance	performance	NOUN
aeasj-261	86	19	in	in	ADP
aeasj-261	86	20	the	the	DET
aeasj-261	86	21	1990s	1990	NOUN
aeasj-261	86	22	reveals	reveal	VERB
aeasj-261	86	23	that	that	SCONJ
aeasj-261	86	24	the	the	DET
aeasj-261	86	25	bank	bank	NOUN
aeasj-261	86	26	-	-	PUNCT
aeasj-261	86	27	based	base	VERB
aeasj-261	86	28	nature	nature	NOUN
aeasj-261	86	29	of	of	ADP
aeasj-261	86	30	this	this	DET
aeasj-261	86	31	system	system	NOUN
aeasj-261	86	32	is	be	AUX
aeasj-261	86	33	not	not	PART
aeasj-261	86	34	beneficial	beneficial	ADJ
aeasj-261	86	35	.	.	PUNCT
aeasj-261	87	1	in	in	ADP
aeasj-261	87	2	response	response	NOUN
aeasj-261	87	3	,	,	PUNCT
aeasj-261	87	4	weinstein	weinstein	NOUN
aeasj-261	87	5	and	and	CCONJ
aeasj-261	87	6	yafeh	yafeh	NOUN
aeasj-261	87	7	(	(	PUNCT
aeasj-261	87	8	1998	1998	NUM
aeasj-261	87	9	)	)	PUNCT
aeasj-261	87	10	were	be	AUX
aeasj-261	87	11	of	of	ADP
aeasj-261	87	12	the	the	DET
aeasj-261	87	13	view	view	NOUN
aeasj-261	87	14	that	that	SCONJ
aeasj-261	87	15	bank	bank	NOUN
aeasj-261	87	16	dependence	dependence	NOUN
aeasj-261	87	17	can	can	AUX
aeasj-261	87	18	lead	lead	VERB
aeasj-261	87	19	to	to	ADP
aeasj-261	87	20	a	a	DET
aeasj-261	87	21	higher	high	ADJ
aeasj-261	87	22	cost	cost	NOUN
aeasj-261	87	23	of	of	ADP
aeasj-261	87	24	funds	fund	NOUN
aeasj-261	87	25	for	for	ADP
aeasj-261	87	26	firms	firm	NOUN
aeasj-261	87	27	,	,	PUNCT
aeasj-261	87	28	since	since	SCONJ
aeasj-261	87	29	banks	bank	NOUN
aeasj-261	87	30	extract	extract	VERB
aeasj-261	87	31	rent	rent	NOUN
aeasj-261	87	32	from	from	ADP
aeasj-261	87	33	their	their	PRON
aeasj-261	87	34	corporate	corporate	ADJ
aeasj-261	87	35	customers	customer	NOUN
aeasj-261	87	36	.	.	PUNCT
aeasj-261	88	1	similarly	similarly	ADV
aeasj-261	88	2	,	,	PUNCT
aeasj-261	88	3	studies	study	NOUN
aeasj-261	88	4	on	on	ADP
aeasj-261	88	5	the	the	DET
aeasj-261	88	6	us	us	PROPN
aeasj-261	88	7	and	and	CCONJ
aeasj-261	88	8	the	the	DET
aeasj-261	88	9	uk	uk	PROPN
aeasj-261	88	10	provide	provide	VERB
aeasj-261	88	11	copyright	copyright	NOUN
aeasj-261	88	12	©	©	PROPN
aeasj-261	88	13	cc	cc	NOUN
aeasj-261	88	14	-	-	PUNCT
aeasj-261	88	15	by	by	ADP
aeasj-261	88	16	-	-	PUNCT
aeasj-261	88	17	nc	nc	PROPN
aeasj-261	88	18	2019	2019	NUM
aeasj-261	88	19	,	,	PUNCT
aeasj-261	88	20	cribfb	cribfb	PROPN
aeasj-261	88	21	|	|	ADV
aeasj-261	88	22	afbr	afbr	PROPN
aeasj-261	88	23	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	88	24	american	american	PROPN
aeasj-261	88	25	economic	economic	PROPN
aeasj-261	88	26	&	&	CCONJ
aeasj-261	88	27	social	social	PROPN
aeasj-261	88	28	review	review	PROPN
aeasj-261	88	29	vol	vol	NOUN
aeasj-261	88	30	.	.	PROPN
aeasj-261	89	1	5	5	NUM
aeasj-261	89	2	,	,	PUNCT
aeasj-261	89	3	no	no	INTJ
aeasj-261	89	4	.	.	NOUN
aeasj-261	89	5	1	1	NUM
aeasj-261	89	6	;	;	PUNCT
aeasj-261	89	7	2019	2019	NUM
aeasj-261	89	8	36	36	NUM
aeasj-261	89	9	evidence	evidence	NOUN
aeasj-261	89	10	in	in	ADP
aeasj-261	89	11	favour	favour	NOUN
aeasj-261	89	12	of	of	ADP
aeasj-261	89	13	market	market	NOUN
aeasj-261	89	14	-	-	PUNCT
aeasj-261	89	15	based	base	VERB
aeasj-261	89	16	financial	financial	ADJ
aeasj-261	89	17	systems	system	NOUN
aeasj-261	89	18	(	(	PUNCT
aeasj-261	89	19	wenger	wenger	PROPN
aeasj-261	89	20	and	and	CCONJ
aeasj-261	89	21	kaserer	kaserer	PROPN
aeasj-261	89	22	,	,	PUNCT
aeasj-261	89	23	1998	1998	NUM
aeasj-261	89	24	and	and	CCONJ
aeasj-261	89	25	,	,	PUNCT
aeasj-261	89	26	levine	levine	PROPN
aeasj-261	89	27	,	,	PUNCT
aeasj-261	89	28	1997	1997	NUM
aeasj-261	89	29	)	)	PUNCT
aeasj-261	89	30	.	.	PUNCT
aeasj-261	90	1	hence	hence	ADV
aeasj-261	90	2	,	,	PUNCT
aeasj-261	90	3	the	the	DET
aeasj-261	90	4	u.s	u.s	PROPN
aeasj-261	90	5	.	.	PROPN
aeasj-261	90	6	and	and	CCONJ
aeasj-261	90	7	uk	uk	PROPN
aeasj-261	90	8	were	be	AUX
aeasj-261	90	9	view	view	NOUN
aeasj-261	90	10	as	as	ADP
aeasj-261	90	11	market	market	NOUN
aeasj-261	90	12	-	-	PUNCT
aeasj-261	90	13	based	base	VERB
aeasj-261	90	14	systems	system	NOUN
aeasj-261	90	15	.	.	PUNCT
aeasj-261	91	1	goldsmith	goldsmith	PROPN
aeasj-261	91	2	(	(	PUNCT
aeasj-261	91	3	1969	1969	NUM
aeasj-261	91	4	)	)	PUNCT
aeasj-261	91	5	,	,	PUNCT
aeasj-261	91	6	however	however	ADV
aeasj-261	91	7	,	,	PUNCT
aeasj-261	91	8	argues	argue	VERB
aeasj-261	91	9	that	that	SCONJ
aeasj-261	91	10	the	the	DET
aeasj-261	91	11	findings	finding	NOUN
aeasj-261	91	12	from	from	ADP
aeasj-261	91	13	the	the	DET
aeasj-261	91	14	comparative	comparative	ADJ
aeasj-261	91	15	analysis	analysis	NOUN
aeasj-261	91	16	of	of	ADP
aeasj-261	91	17	bank	bank	NOUN
aeasj-261	91	18	-	-	PUNCT
aeasj-261	91	19	based	base	VERB
aeasj-261	91	20	system	system	NOUN
aeasj-261	91	21	and	and	CCONJ
aeasj-261	91	22	market	market	NOUN
aeasj-261	91	23	-	-	PUNCT
aeasj-261	91	24	based	base	VERB
aeasj-261	91	25	system	system	NOUN
aeasj-261	91	26	in	in	ADP
aeasj-261	91	27	the	the	DET
aeasj-261	91	28	case	case	NOUN
aeasj-261	91	29	of	of	ADP
aeasj-261	91	30	germany	germany	PROPN
aeasj-261	91	31	and	and	CCONJ
aeasj-261	91	32	the	the	DET
aeasj-261	91	33	uk	uk	PROPN
aeasj-261	91	34	for	for	ADP
aeasj-261	91	35	the	the	DET
aeasj-261	91	36	period	period	NOUN
aeasj-261	91	37	1864	1864	NUM
aeasj-261	91	38	-	-	SYM
aeasj-261	91	39	1914	1914	NUM
aeasj-261	91	40	does	do	AUX
aeasj-261	91	41	not	not	PART
aeasj-261	91	42	contribute	contribute	VERB
aeasj-261	91	43	to	to	ADP
aeasj-261	91	44	the	the	DET
aeasj-261	91	45	debate	debate	NOUN
aeasj-261	91	46	since	since	SCONJ
aeasj-261	91	47	there	there	PRON
aeasj-261	91	48	was	be	VERB
aeasj-261	91	49	no	no	DET
aeasj-261	91	50	significant	significant	ADJ
aeasj-261	91	51	difference	difference	NOUN
aeasj-261	91	52	in	in	ADP
aeasj-261	91	53	the	the	DET
aeasj-261	91	54	rate	rate	NOUN
aeasj-261	91	55	of	of	ADP
aeasj-261	91	56	growth	growth	NOUN
aeasj-261	91	57	of	of	ADP
aeasj-261	91	58	the	the	DET
aeasj-261	91	59	two	two	NUM
aeasj-261	91	60	economies	economy	NOUN
aeasj-261	91	61	.	.	PUNCT
aeasj-261	92	1	levine	levine	PROPN
aeasj-261	92	2	(	(	PUNCT
aeasj-261	92	3	2002	2002	NUM
aeasj-261	92	4	)	)	PUNCT
aeasj-261	92	5	reaffirmed	reaffirm	VERB
aeasj-261	92	6	goldsmith	goldsmith	PROPN
aeasj-261	92	7	’s	’s	PART
aeasj-261	92	8	(	(	PUNCT
aeasj-261	92	9	1969	1969	NUM
aeasj-261	92	10	)	)	PUNCT
aeasj-261	92	11	argument	argument	NOUN
aeasj-261	92	12	by	by	ADP
aeasj-261	92	13	concluding	conclude	VERB
aeasj-261	92	14	that	that	SCONJ
aeasj-261	92	15	financial	financial	ADJ
aeasj-261	92	16	structure	structure	NOUN
aeasj-261	92	17	did	do	AUX
aeasj-261	92	18	not	not	PART
aeasj-261	92	19	matter	matter	VERB
aeasj-261	92	20	much	much	ADV
aeasj-261	92	21	since	since	SCONJ
aeasj-261	92	22	the	the	DET
aeasj-261	92	23	countries	country	NOUN
aeasj-261	92	24	have	have	VERB
aeasj-261	92	25	very	very	ADV
aeasj-261	92	26	similar	similar	ADJ
aeasj-261	92	27	growth	growth	NOUN
aeasj-261	92	28	rates	rate	NOUN
aeasj-261	92	29	.	.	PUNCT
aeasj-261	93	1	hence	hence	ADV
aeasj-261	93	2	,	,	PUNCT
aeasj-261	93	3	levine	levine	PROPN
aeasj-261	93	4	(	(	PUNCT
aeasj-261	93	5	2002	2002	NUM
aeasj-261	93	6	)	)	PUNCT
aeasj-261	93	7	examined	examine	VERB
aeasj-261	93	8	the	the	DET
aeasj-261	93	9	relative	relative	ADJ
aeasj-261	93	10	importance	importance	NOUN
aeasj-261	93	11	of	of	ADP
aeasj-261	93	12	bank	bank	NOUN
aeasj-261	93	13	-	-	PUNCT
aeasj-261	93	14	based	base	VERB
aeasj-261	93	15	system	system	NOUN
aeasj-261	93	16	and	and	CCONJ
aeasj-261	93	17	market	market	NOUN
aeasj-261	93	18	-	-	PUNCT
aeasj-261	93	19	based	base	VERB
aeasj-261	93	20	system	system	NOUN
aeasj-261	93	21	in	in	ADP
aeasj-261	93	22	stimulating	stimulate	VERB
aeasj-261	93	23	economic	economic	ADJ
aeasj-261	93	24	growth	growth	NOUN
aeasj-261	93	25	using	use	VERB
aeasj-261	93	26	a	a	DET
aeasj-261	93	27	broad	broad	ADJ
aeasj-261	93	28	crosscountry	crosscountry	NOUN
aeasj-261	93	29	approach	approach	NOUN
aeasj-261	93	30	that	that	PRON
aeasj-261	93	31	allows	allow	VERB
aeasj-261	93	32	treatment	treatment	NOUN
aeasj-261	93	33	of	of	ADP
aeasj-261	93	34	financial	financial	ADJ
aeasj-261	93	35	system	system	NOUN
aeasj-261	93	36	structure	structure	NOUN
aeasj-261	93	37	across	across	ADP
aeasj-261	93	38	many	many	ADJ
aeasj-261	93	39	countries	country	NOUN
aeasj-261	93	40	with	with	ADP
aeasj-261	93	41	different	different	ADJ
aeasj-261	93	42	growth	growth	NOUN
aeasj-261	93	43	rates	rate	NOUN
aeasj-261	93	44	.	.	PUNCT
aeasj-261	94	1	the	the	DET
aeasj-261	94	2	findings	finding	NOUN
aeasj-261	94	3	of	of	ADP
aeasj-261	94	4	this	this	DET
aeasj-261	94	5	study	study	NOUN
aeasj-261	94	6	support	support	VERB
aeasj-261	94	7	financial	financial	ADJ
aeasj-261	94	8	services	service	NOUN
aeasj-261	94	9	view	view	NOUN
aeasj-261	94	10	and	and	CCONJ
aeasj-261	94	11	the	the	DET
aeasj-261	94	12	legal	legal	ADJ
aeasj-261	94	13	-	-	PUNCT
aeasj-261	94	14	based	base	VERB
aeasj-261	94	15	view	view	NOUN
aeasj-261	94	16	as	as	ADP
aeasj-261	94	17	against	against	ADP
aeasj-261	94	18	the	the	DET
aeasj-261	94	19	bank	bank	NOUN
aeasj-261	94	20	-	-	PUNCT
aeasj-261	94	21	based	base	VERB
aeasj-261	94	22	and	and	CCONJ
aeasj-261	94	23	the	the	DET
aeasj-261	94	24	market	market	NOUN
aeasj-261	94	25	-	-	PUNCT
aeasj-261	94	26	based	base	VERB
aeasj-261	94	27	views	view	NOUN
aeasj-261	94	28	.	.	PUNCT
aeasj-261	95	1	it	it	PRON
aeasj-261	95	2	is	be	AUX
aeasj-261	95	3	the	the	DET
aeasj-261	95	4	elements	element	NOUN
aeasj-261	95	5	of	of	ADP
aeasj-261	95	6	a	a	DET
aeasj-261	95	7	country	country	NOUN
aeasj-261	95	8	’s	’s	PART
aeasj-261	95	9	legal	legal	ADJ
aeasj-261	95	10	environment	environment	NOUN
aeasj-261	95	11	and	and	CCONJ
aeasj-261	95	12	the	the	DET
aeasj-261	95	13	quality	quality	NOUN
aeasj-261	95	14	of	of	ADP
aeasj-261	95	15	its	its	PRON
aeasj-261	95	16	financial	financial	ADJ
aeasj-261	95	17	services	service	NOUN
aeasj-261	95	18	(	(	PUNCT
aeasj-261	95	19	fss	fss	PROPN
aeasj-261	95	20	)	)	PUNCT
aeasj-261	95	21	that	that	PRON
aeasj-261	95	22	are	be	AUX
aeasj-261	95	23	most	most	ADV
aeasj-261	95	24	important	important	ADJ
aeasj-261	95	25	in	in	ADP
aeasj-261	95	26	stimulating	stimulate	VERB
aeasj-261	95	27	general	general	ADJ
aeasj-261	95	28	economic	economic	ADJ
aeasj-261	95	29	growth	growth	NOUN
aeasj-261	95	30	.	.	PUNCT
aeasj-261	96	1	the	the	DET
aeasj-261	96	2	bank	bank	NOUN
aeasj-261	96	3	-	-	PUNCT
aeasj-261	96	4	based	base	VERB
aeasj-261	96	5	and	and	CCONJ
aeasj-261	96	6	the	the	DET
aeasj-261	96	7	marketbased	marketbase	VERB
aeasj-261	96	8	systems	system	NOUN
aeasj-261	96	9	are	be	AUX
aeasj-261	96	10	supportive	supportive	ADJ
aeasj-261	96	11	of	of	ADP
aeasj-261	96	12	the	the	DET
aeasj-261	96	13	financial	financial	ADJ
aeasj-261	96	14	services	service	NOUN
aeasj-261	96	15	and	and	CCONJ
aeasj-261	96	16	legal	legal	ADJ
aeasj-261	96	17	views	view	NOUN
aeasj-261	96	18	and	and	CCONJ
aeasj-261	96	19	,	,	PUNCT
aeasj-261	96	20	that	that	SCONJ
aeasj-261	96	21	a	a	DET
aeasj-261	96	22	better	well	ADV
aeasj-261	96	23	-	-	PUNCT
aeasj-261	96	24	developed	develop	VERB
aeasj-261	96	25	financial	financial	ADJ
aeasj-261	96	26	system	system	NOUN
aeasj-261	96	27	is	be	AUX
aeasj-261	96	28	what	what	PRON
aeasj-261	96	29	stimulates	stimulate	VERB
aeasj-261	96	30	economic	economic	ADJ
aeasj-261	96	31	growth	growth	NOUN
aeasj-261	96	32	.	.	PUNCT
aeasj-261	97	1	in	in	ADP
aeasj-261	97	2	contrast	contrast	NOUN
aeasj-261	97	3	,	,	PUNCT
aeasj-261	97	4	tadesse	tadesse	INTJ
aeasj-261	97	5	(	(	PUNCT
aeasj-261	97	6	2000	2000	NUM
aeasj-261	97	7	)	)	PUNCT
aeasj-261	97	8	examined	examine	VERB
aeasj-261	97	9	the	the	DET
aeasj-261	97	10	relative	relative	ADJ
aeasj-261	97	11	importance	importance	NOUN
aeasj-261	97	12	of	of	ADP
aeasj-261	97	13	bank	bank	NOUN
aeasj-261	97	14	-	-	PUNCT
aeasj-261	97	15	based	base	VERB
aeasj-261	97	16	systems	system	NOUN
aeasj-261	97	17	and	and	CCONJ
aeasj-261	97	18	market	market	NOUN
aeasj-261	97	19	-	-	PUNCT
aeasj-261	97	20	based	base	VERB
aeasj-261	97	21	systems	system	NOUN
aeasj-261	97	22	in	in	ADP
aeasj-261	97	23	stimulating	stimulate	VERB
aeasj-261	97	24	economic	economic	ADJ
aeasj-261	97	25	growth	growth	NOUN
aeasj-261	97	26	using	use	VERB
aeasj-261	97	27	a	a	DET
aeasj-261	97	28	cross	cross	ADJ
aeasj-261	97	29	-	-	ADJ
aeasj-261	97	30	country	country	ADJ
aeasj-261	97	31	regression	regression	NOUN
aeasj-261	97	32	for	for	ADP
aeasj-261	97	33	36	36	NUM
aeasj-261	97	34	countries	country	NOUN
aeasj-261	97	35	from	from	ADP
aeasj-261	97	36	1980–1995	1980–1995	NUM
aeasj-261	97	37	and	and	CCONJ
aeasj-261	97	38	found	find	VERB
aeasj-261	97	39	a	a	DET
aeasj-261	97	40	difference	difference	NOUN
aeasj-261	97	41	between	between	ADP
aeasj-261	97	42	bank	bank	NOUN
aeasj-261	97	43	-	-	PUNCT
aeasj-261	97	44	based	base	VERB
aeasj-261	97	45	and	and	CCONJ
aeasj-261	97	46	market	market	NOUN
aeasj-261	97	47	-	-	PUNCT
aeasj-261	97	48	based	base	VERB
aeasj-261	97	49	financial	financial	ADJ
aeasj-261	97	50	systems	system	NOUN
aeasj-261	97	51	.	.	PUNCT
aeasj-261	98	1	for	for	ADP
aeasj-261	98	2	underdeveloped	underdeveloped	ADJ
aeasj-261	98	3	financial	financial	ADJ
aeasj-261	98	4	sectors	sector	NOUN
aeasj-261	98	5	,	,	PUNCT
aeasj-261	98	6	bank	bank	NOUN
aeasj-261	98	7	-	-	PUNCT
aeasj-261	98	8	based	base	VERB
aeasj-261	98	9	systems	system	NOUN
aeasj-261	98	10	outperform	outperform	VERB
aeasj-261	98	11	market	market	NOUN
aeasj-261	98	12	-	-	PUNCT
aeasj-261	98	13	based	base	VERB
aeasj-261	98	14	systems	system	NOUN
aeasj-261	98	15	.	.	PUNCT
aeasj-261	99	1	demirguc	demirguc	PROPN
aeasj-261	99	2	-	-	PUNCT
aeasj-261	99	3	kunt	kunt	PROPN
aeasj-261	99	4	and	and	CCONJ
aeasj-261	99	5	levine	levine	PROPN
aeasj-261	99	6	(	(	PUNCT
aeasj-261	99	7	1996	1996	NUM
aeasj-261	99	8	)	)	PUNCT
aeasj-261	99	9	,	,	PUNCT
aeasj-261	99	10	using	use	VERB
aeasj-261	99	11	cross	cross	ADJ
aeasj-261	99	12	-	-	ADJ
aeasj-261	99	13	country	country	ADJ
aeasj-261	99	14	data	datum	NOUN
aeasj-261	99	15	from	from	ADP
aeasj-261	99	16	forty	forty	NUM
aeasj-261	99	17	-	-	PUNCT
aeasj-261	99	18	four	four	NUM
aeasj-261	99	19	industrial	industrial	ADJ
aeasj-261	99	20	and	and	CCONJ
aeasj-261	99	21	developing	develop	VERB
aeasj-261	99	22	countries	country	NOUN
aeasj-261	99	23	for	for	ADP
aeasj-261	99	24	the	the	DET
aeasj-261	99	25	period	period	NOUN
aeasj-261	99	26	1986	1986	NUM
aeasj-261	99	27	to	to	ADP
aeasj-261	99	28	1993	1993	NUM
aeasj-261	99	29	to	to	PART
aeasj-261	99	30	examined	examine	VERB
aeasj-261	99	31	the	the	DET
aeasj-261	99	32	relative	relative	ADJ
aeasj-261	99	33	importance	importance	NOUN
aeasj-261	99	34	of	of	ADP
aeasj-261	99	35	bank	bank	NOUN
aeasj-261	99	36	-	-	PUNCT
aeasj-261	99	37	based	base	VERB
aeasj-261	99	38	systems	system	NOUN
aeasj-261	99	39	and	and	CCONJ
aeasj-261	99	40	market	market	NOUN
aeasj-261	99	41	-	-	PUNCT
aeasj-261	99	42	based	base	VERB
aeasj-261	99	43	systems	system	NOUN
aeasj-261	99	44	to	to	ADP
aeasj-261	99	45	economic	economic	ADJ
aeasj-261	99	46	growth	growth	NOUN
aeasj-261	99	47	and	and	CCONJ
aeasj-261	99	48	thereafter	thereafter	ADV
aeasj-261	99	49	,	,	PUNCT
aeasj-261	99	50	concluded	conclude	VERB
aeasj-261	99	51	that	that	SCONJ
aeasj-261	99	52	countries	country	NOUN
aeasj-261	99	53	with	with	ADP
aeasj-261	99	54	well	well	ADV
aeasj-261	99	55	-	-	PUNCT
aeasj-261	99	56	developed	develop	VERB
aeasj-261	99	57	market	market	NOUN
aeasj-261	99	58	-	-	PUNCT
aeasj-261	99	59	based	base	VERB
aeasj-261	99	60	institutions	institution	NOUN
aeasj-261	99	61	also	also	ADV
aeasj-261	99	62	have	have	VERB
aeasj-261	99	63	well	well	ADV
aeasj-261	99	64	-	-	PUNCT
aeasj-261	99	65	developed	develop	VERB
aeasj-261	99	66	bank	bank	NOUN
aeasj-261	99	67	-	-	PUNCT
aeasj-261	99	68	based	base	VERB
aeasj-261	99	69	institutions	institution	NOUN
aeasj-261	99	70	;	;	PUNCT
aeasj-261	99	71	and	and	CCONJ
aeasj-261	99	72	vice	vice	ADV
aeasj-261	99	73	versa	versa	ADV
aeasj-261	99	74	,	,	PUNCT
aeasj-261	99	75	thereby	thereby	ADV
aeasj-261	99	76	supporting	support	VERB
aeasj-261	99	77	the	the	DET
aeasj-261	99	78	view	view	NOUN
aeasj-261	99	79	that	that	SCONJ
aeasj-261	99	80	the	the	DET
aeasj-261	99	81	distinction	distinction	NOUN
aeasj-261	99	82	between	between	ADP
aeasj-261	99	83	bank	bank	NOUN
aeasj-261	99	84	-	-	PUNCT
aeasj-261	99	85	based	base	VERB
aeasj-261	99	86	and	and	CCONJ
aeasj-261	99	87	market	market	NOUN
aeasj-261	99	88	-	-	PUNCT
aeasj-261	99	89	based	base	VERB
aeasj-261	99	90	financial	financial	ADJ
aeasj-261	99	91	systems	system	NOUN
aeasj-261	99	92	is	be	AUX
aeasj-261	99	93	of	of	ADP
aeasj-261	99	94	no	no	DET
aeasj-261	99	95	consequence	consequence	NOUN
aeasj-261	99	96	.	.	PUNCT
aeasj-261	100	1	contrarily	contrarily	ADV
aeasj-261	100	2	,	,	PUNCT
aeasj-261	100	3	levine	levine	PROPN
aeasj-261	100	4	and	and	CCONJ
aeasj-261	100	5	zevos	zevos	PROPN
aeasj-261	100	6	(	(	PUNCT
aeasj-261	100	7	1998	1998	NUM
aeasj-261	100	8	)	)	PUNCT
aeasj-261	100	9	,	,	PUNCT
aeasj-261	100	10	adopted	adopt	VERB
aeasj-261	100	11	a	a	DET
aeasj-261	100	12	cross	cross	ADJ
aeasj-261	100	13	-	-	ADJ
aeasj-261	100	14	country	country	ADJ
aeasj-261	100	15	regression	regression	NOUN
aeasj-261	100	16	for	for	ADP
aeasj-261	100	17	a	a	DET
aeasj-261	100	18	number	number	NOUN
aeasj-261	100	19	of	of	ADP
aeasj-261	100	20	countries	country	NOUN
aeasj-261	100	21	covering	cover	VERB
aeasj-261	100	22	the	the	DET
aeasj-261	100	23	period	period	NOUN
aeasj-261	100	24	1976	1976	NUM
aeasj-261	100	25	to	to	ADP
aeasj-261	100	26	1993	1993	NUM
aeasj-261	100	27	and	and	CCONJ
aeasj-261	100	28	concluded	conclude	VERB
aeasj-261	100	29	that	that	SCONJ
aeasj-261	100	30	higher	high	ADJ
aeasj-261	100	31	stock	stock	NOUN
aeasj-261	100	32	market	market	NOUN
aeasj-261	100	33	liquidity	liquidity	NOUN
aeasj-261	100	34	or	or	CCONJ
aeasj-261	100	35	greater	great	ADJ
aeasj-261	100	36	bank	bank	NOUN
aeasj-261	100	37	development	development	NOUN
aeasj-261	100	38	lead	lead	NOUN
aeasj-261	100	39	to	to	ADP
aeasj-261	100	40	higher	high	ADJ
aeasj-261	100	41	growth	growth	NOUN
aeasj-261	100	42	,	,	PUNCT
aeasj-261	100	43	irrespective	irrespective	ADV
aeasj-261	100	44	of	of	ADP
aeasj-261	100	45	the	the	DET
aeasj-261	100	46	development	development	NOUN
aeasj-261	100	47	of	of	ADP
aeasj-261	100	48	the	the	DET
aeasj-261	100	49	other	other	ADJ
aeasj-261	100	50	.	.	PUNCT
aeasj-261	101	1	in	in	ADP
aeasj-261	101	2	particular	particular	ADJ
aeasj-261	101	3	,	,	PUNCT
aeasj-261	101	4	market	market	NOUN
aeasj-261	101	5	-	-	PUNCT
aeasj-261	101	6	based	base	VERB
aeasj-261	101	7	systems	system	NOUN
aeasj-261	101	8	influence	influence	NOUN
aeasj-261	101	9	growth	growth	NOUN
aeasj-261	101	10	through	through	ADP
aeasj-261	101	11	the	the	DET
aeasj-261	101	12	provision	provision	NOUN
aeasj-261	101	13	of	of	ADP
aeasj-261	101	14	liquidity	liquidity	NOUN
aeasj-261	101	15	that	that	PRON
aeasj-261	101	16	enables	enable	VERB
aeasj-261	101	17	investment	investment	NOUN
aeasj-261	101	18	to	to	PART
aeasj-261	101	19	be	be	AUX
aeasj-261	101	20	less	less	ADV
aeasj-261	101	21	risky	risky	ADJ
aeasj-261	101	22	,	,	PUNCT
aeasj-261	101	23	such	such	ADJ
aeasj-261	101	24	that	that	SCONJ
aeasj-261	101	25	companies	company	NOUN
aeasj-261	101	26	have	have	VERB
aeasj-261	101	27	access	access	NOUN
aeasj-261	101	28	to	to	ADP
aeasj-261	101	29	capital	capital	NOUN
aeasj-261	101	30	through	through	ADP
aeasj-261	101	31	liquid	liquid	ADJ
aeasj-261	101	32	equity	equity	NOUN
aeasj-261	101	33	issues	issue	NOUN
aeasj-261	101	34	(	(	PUNCT
aeasj-261	101	35	harris	harris	PROPN
aeasj-261	101	36	,	,	PUNCT
aeasj-261	101	37	1997	1997	NUM
aeasj-261	101	38	)	)	PUNCT
aeasj-261	101	39	.	.	PUNCT
aeasj-261	102	1	summarily	summarily	ADV
aeasj-261	102	2	,	,	PUNCT
aeasj-261	102	3	the	the	DET
aeasj-261	102	4	world	world	PROPN
aeasj-261	102	5	bank	bank	PROPN
aeasj-261	102	6	(	(	PUNCT
aeasj-261	102	7	2001	2001	NUM
aeasj-261	102	8	)	)	PUNCT
aeasj-261	102	9	reached	reach	VERB
aeasj-261	102	10	a	a	DET
aeasj-261	102	11	conclusion	conclusion	NOUN
aeasj-261	102	12	that	that	SCONJ
aeasj-261	102	13	the	the	DET
aeasj-261	102	14	evidence	evidence	NOUN
aeasj-261	102	15	should	should	AUX
aeasj-261	102	16	be	be	AUX
aeasj-261	102	17	interpreted	interpret	VERB
aeasj-261	102	18	as	as	ADP
aeasj-261	102	19	clearly	clearly	ADV
aeasj-261	102	20	suggesting	suggest	VERB
aeasj-261	102	21	that	that	SCONJ
aeasj-261	102	22	both	both	CCONJ
aeasj-261	102	23	the	the	DET
aeasj-261	102	24	development	development	NOUN
aeasj-261	102	25	of	of	ADP
aeasj-261	102	26	bank	bank	NOUN
aeasj-261	102	27	-	-	PUNCT
aeasj-261	102	28	based	base	VERB
aeasj-261	102	29	and	and	CCONJ
aeasj-261	102	30	market	market	NOUN
aeasj-261	102	31	-	-	PUNCT
aeasj-261	102	32	based	base	VERB
aeasj-261	102	33	financial	financial	ADJ
aeasj-261	102	34	systems	system	NOUN
aeasj-261	102	35	promote	promote	VERB
aeasj-261	102	36	economic	economic	ADJ
aeasj-261	102	37	growth	growth	NOUN
aeasj-261	102	38	and	and	CCONJ
aeasj-261	102	39	,	,	PUNCT
aeasj-261	102	40	each	each	PRON
aeasj-261	102	41	can	can	AUX
aeasj-261	102	42	complement	complement	VERB
aeasj-261	102	43	the	the	DET
aeasj-261	102	44	other	other	ADJ
aeasj-261	102	45	.	.	PUNCT
aeasj-261	103	1	furthermore	furthermore	ADV
aeasj-261	103	2	,	,	PUNCT
aeasj-261	103	3	saibu	saibu	VERB
aeasj-261	103	4	,	,	PUNCT
aeasj-261	103	5	bowale	bowale	NOUN
aeasj-261	103	6	and	and	CCONJ
aeasj-261	103	7	akinlo	akinlo	NOUN
aeasj-261	103	8	(	(	PUNCT
aeasj-261	103	9	2009	2009	NUM
aeasj-261	103	10	)	)	PUNCT
aeasj-261	103	11	investigated	investigate	VERB
aeasj-261	103	12	the	the	DET
aeasj-261	103	13	relationship	relationship	NOUN
aeasj-261	103	14	between	between	ADP
aeasj-261	103	15	economic	economic	ADJ
aeasj-261	103	16	growth	growth	NOUN
aeasj-261	103	17	and	and	CCONJ
aeasj-261	103	18	financial	financial	ADJ
aeasj-261	103	19	structure	structure	NOUN
aeasj-261	103	20	,	,	PUNCT
aeasj-261	103	21	i.e.	i.e.	X
aeasj-261	103	22	,the	,the	PUNCT
aeasj-261	103	23	degree	degree	NOUN
aeasj-261	103	24	to	to	PART
aeasj-261	103	25	which	which	PRON
aeasj-261	103	26	an	an	DET
aeasj-261	103	27	emerging	emerge	VERB
aeasj-261	103	28	economy	economy	NOUN
aeasj-261	103	29	is	be	AUX
aeasj-261	103	30	market	market	NOUN
aeasj-261	103	31	based	base	VERB
aeasj-261	103	32	or	or	CCONJ
aeasj-261	103	33	bank	bank	NOUN
aeasj-261	103	34	based	base	VERB
aeasj-261	103	35	.	.	PUNCT
aeasj-261	104	1	in	in	ADP
aeasj-261	104	2	particular	particular	ADJ
aeasj-261	104	3	,	,	PUNCT
aeasj-261	104	4	this	this	DET
aeasj-261	104	5	study	study	NOUN
aeasj-261	104	6	empirically	empirically	ADV
aeasj-261	104	7	assessed	assess	VERB
aeasj-261	104	8	the	the	DET
aeasj-261	104	9	competing	compete	VERB
aeasj-261	104	10	theoretical	theoretical	ADJ
aeasj-261	104	11	views	view	NOUN
aeasj-261	104	12	of	of	ADP
aeasj-261	104	13	financial	financial	ADJ
aeasj-261	104	14	structure	structure	NOUN
aeasj-261	104	15	and	and	CCONJ
aeasj-261	104	16	economic	economic	ADJ
aeasj-261	104	17	growth	growth	NOUN
aeasj-261	104	18	dynamics	dynamic	NOUN
aeasj-261	104	19	in	in	ADP
aeasj-261	104	20	nigeria	nigeria	PROPN
aeasj-261	104	21	using	use	VERB
aeasj-261	104	22	vector	vector	NOUN
aeasj-261	104	23	error	error	NOUN
aeasj-261	104	24	correction	correction	NOUN
aeasj-261	104	25	model	model	NOUN
aeasj-261	104	26	over	over	ADP
aeasj-261	104	27	a	a	DET
aeasj-261	104	28	30	30	NUM
aeasj-261	104	29	year	year	NOUN
aeasj-261	104	30	period	period	NOUN
aeasj-261	104	31	.	.	PUNCT
aeasj-261	105	1	the	the	DET
aeasj-261	105	2	result	result	NOUN
aeasj-261	105	3	shows	show	VERB
aeasj-261	105	4	that	that	SCONJ
aeasj-261	105	5	changes	change	NOUN
aeasj-261	105	6	in	in	ADP
aeasj-261	105	7	financial	financial	ADJ
aeasj-261	105	8	structure	structure	NOUN
aeasj-261	105	9	in	in	ADP
aeasj-261	105	10	nigeria	nigeria	PROPN
aeasj-261	105	11	have	have	VERB
aeasj-261	105	12	no	no	DET
aeasj-261	105	13	significant	significant	ADJ
aeasj-261	105	14	influence	influence	NOUN
aeasj-261	105	15	on	on	ADP
aeasj-261	105	16	real	real	ADJ
aeasj-261	105	17	growth	growth	NOUN
aeasj-261	105	18	rate	rate	NOUN
aeasj-261	105	19	.	.	PUNCT
aeasj-261	106	1	the	the	DET
aeasj-261	106	2	result	result	NOUN
aeasj-261	106	3	shows	show	VERB
aeasj-261	106	4	further	far	ADV
aeasj-261	106	5	that	that	SCONJ
aeasj-261	106	6	despite	despite	SCONJ
aeasj-261	106	7	the	the	DET
aeasj-261	106	8	negative	negative	ADJ
aeasj-261	106	9	effect	effect	NOUN
aeasj-261	106	10	of	of	ADP
aeasj-261	106	11	bank	bank	NOUN
aeasj-261	106	12	-	-	PUNCT
aeasj-261	106	13	market	market	NOUN
aeasj-261	106	14	on	on	ADP
aeasj-261	106	15	economic	economic	ADJ
aeasj-261	106	16	growth	growth	NOUN
aeasj-261	106	17	,	,	PUNCT
aeasj-261	106	18	bank	bank	NOUN
aeasj-261	106	19	-	-	PUNCT
aeasj-261	106	20	market	market	NOUN
aeasj-261	106	21	has	have	VERB
aeasj-261	106	22	positive	positive	ADJ
aeasj-261	106	23	effect	effect	NOUN
aeasj-261	106	24	on	on	ADP
aeasj-261	106	25	stock	stock	NOUN
aeasj-261	106	26	market	market	NOUN
aeasj-261	106	27	development	development	NOUN
aeasj-261	106	28	hence	hence	ADV
aeasj-261	106	29	suggesting	suggest	VERB
aeasj-261	106	30	that	that	SCONJ
aeasj-261	106	31	neither	neither	CCONJ
aeasj-261	106	32	the	the	DET
aeasj-261	106	33	bank	bank	NOUN
aeasj-261	106	34	-	-	PUNCT
aeasj-261	106	35	market	market	NOUN
aeasj-261	106	36	nor	nor	CCONJ
aeasj-261	106	37	stock	stock	NOUN
aeasj-261	106	38	market	market	NOUN
aeasj-261	106	39	based	base	VERB
aeasj-261	106	40	system	system	NOUN
aeasj-261	106	41	is	be	AUX
aeasj-261	106	42	a	a	DET
aeasj-261	106	43	dominant	dominant	ADJ
aeasj-261	106	44	factor	factor	NOUN
aeasj-261	106	45	on	on	ADP
aeasj-261	106	46	economic	economic	ADJ
aeasj-261	106	47	growth	growth	NOUN
aeasj-261	106	48	in	in	ADP
aeasj-261	106	49	nigeria	nigeria	PROPN
aeasj-261	106	50	.	.	PUNCT
aeasj-261	107	1	therefore	therefore	ADV
aeasj-261	107	2	,	,	PUNCT
aeasj-261	107	3	the	the	DET
aeasj-261	107	4	controversy	controversy	NOUN
aeasj-261	107	5	between	between	ADP
aeasj-261	107	6	bank	bank	PROPN
aeasj-261	107	7	based	base	VERB
aeasj-261	107	8	and	and	CCONJ
aeasj-261	107	9	market	market	NOUN
aeasj-261	107	10	based	base	VERB
aeasj-261	107	11	is	be	AUX
aeasj-261	107	12	not	not	PART
aeasj-261	107	13	a	a	DET
aeasj-261	107	14	nigerian	nigerian	ADJ
aeasj-261	107	15	phenomenon	phenomenon	NOUN
aeasj-261	107	16	,	,	PUNCT
aeasj-261	107	17	as	as	SCONJ
aeasj-261	107	18	both	both	DET
aeasj-261	107	19	theoretical	theoretical	ADJ
aeasj-261	107	20	positions	position	NOUN
aeasj-261	107	21	are	be	AUX
aeasj-261	107	22	not	not	PART
aeasj-261	107	23	supported	support	VERB
aeasj-261	107	24	by	by	ADP
aeasj-261	107	25	evidence	evidence	NOUN
aeasj-261	107	26	.	.	PUNCT
aeasj-261	108	1	rather	rather	ADV
aeasj-261	108	2	,	,	PUNCT
aeasj-261	108	3	the	the	DET
aeasj-261	108	4	results	result	NOUN
aeasj-261	108	5	are	be	AUX
aeasj-261	108	6	more	more	ADV
aeasj-261	108	7	consistent	consistent	ADJ
aeasj-261	108	8	with	with	ADP
aeasj-261	108	9	the	the	DET
aeasj-261	108	10	financial	financial	ADJ
aeasj-261	108	11	services	service	NOUN
aeasj-261	108	12	view	view	VERB
aeasj-261	108	13	that	that	SCONJ
aeasj-261	108	14	both	both	PRON
aeasj-261	108	15	bank	bank	NOUN
aeasj-261	108	16	and	and	CCONJ
aeasj-261	108	17	stock	stock	NOUN
aeasj-261	108	18	market	market	NOUN
aeasj-261	108	19	are	be	AUX
aeasj-261	108	20	relevant	relevant	ADJ
aeasj-261	108	21	to	to	ADP
aeasj-261	108	22	the	the	DET
aeasj-261	108	23	growth	growth	NOUN
aeasj-261	108	24	of	of	ADP
aeasj-261	108	25	an	an	DET
aeasj-261	108	26	emerging	emerge	VERB
aeasj-261	108	27	economy	economy	NOUN
aeasj-261	108	28	like	like	ADP
aeasj-261	108	29	nigeria	nigeria	PROPN
aeasj-261	108	30	.	.	PUNCT
aeasj-261	109	1	similarly	similarly	ADV
aeasj-261	109	2	,	,	PUNCT
aeasj-261	109	3	ujunwa	ujunwa	PROPN
aeasj-261	109	4	,	,	PUNCT
aeasj-261	109	5	salami	salami	NOUN
aeasj-261	109	6	,	,	PUNCT
aeasj-261	109	7	nwakoby	nwakoby	NOUN
aeasj-261	109	8	and	and	CCONJ
aeasj-261	109	9	umar	umar	PROPN
aeasj-261	109	10	(	(	PUNCT
aeasj-261	109	11	2012	2012	NUM
aeasj-261	109	12	)	)	PUNCT
aeasj-261	109	13	examined	examine	VERB
aeasj-261	109	14	the	the	DET
aeasj-261	109	15	impact	impact	NOUN
aeasj-261	109	16	of	of	ADP
aeasj-261	109	17	competing	compete	VERB
aeasj-261	109	18	financial	financial	ADJ
aeasj-261	109	19	structure	structure	NOUN
aeasj-261	109	20	theories	theory	NOUN
aeasj-261	109	21	on	on	ADP
aeasj-261	109	22	economic	economic	ADJ
aeasj-261	109	23	growth	growth	NOUN
aeasj-261	109	24	in	in	ADP
aeasj-261	109	25	nigeria	nigeria	PROPN
aeasj-261	109	26	for	for	ADP
aeasj-261	109	27	the	the	DET
aeasj-261	109	28	period	period	NOUN
aeasj-261	109	29	,	,	PUNCT
aeasj-261	109	30	1992	1992	NUM
aeasj-261	109	31	-	-	SYM
aeasj-261	109	32	2008	2008	NUM
aeasj-261	109	33	using	use	VERB
aeasj-261	109	34	the	the	DET
aeasj-261	109	35	ordinary	ordinary	ADJ
aeasj-261	109	36	least	least	ADJ
aeasj-261	109	37	square	square	ADJ
aeasj-261	109	38	(	(	PUNCT
aeasj-261	109	39	ols	ol	NOUN
aeasj-261	109	40	)	)	PUNCT
aeasj-261	109	41	regression	regression	NOUN
aeasj-261	109	42	approach	approach	NOUN
aeasj-261	109	43	.	.	PUNCT
aeasj-261	110	1	the	the	DET
aeasj-261	110	2	results	result	NOUN
aeasj-261	110	3	showed	show	VERB
aeasj-261	110	4	that	that	SCONJ
aeasj-261	110	5	despite	despite	SCONJ
aeasj-261	110	6	the	the	DET
aeasj-261	110	7	non	non	ADJ
aeasj-261	110	8	-	-	ADJ
aeasj-261	110	9	significant	significant	ADJ
aeasj-261	110	10	influence	influence	NOUN
aeasj-261	110	11	of	of	ADP
aeasj-261	110	12	bank	bank	NOUN
aeasj-261	110	13	-	-	PUNCT
aeasj-261	110	14	based	base	VERB
aeasj-261	110	15	theory	theory	NOUN
aeasj-261	110	16	and	and	CCONJ
aeasj-261	110	17	legal	legal	ADJ
aeasj-261	110	18	-	-	PUNCT
aeasj-261	110	19	based	base	VERB
aeasj-261	110	20	theory	theory	NOUN
aeasj-261	110	21	,	,	PUNCT
aeasj-261	110	22	both	both	PRON
aeasj-261	110	23	have	have	VERB
aeasj-261	110	24	positive	positive	ADJ
aeasj-261	110	25	effect	effect	NOUN
aeasj-261	110	26	in	in	ADP
aeasj-261	110	27	promoting	promote	VERB
aeasj-261	110	28	economic	economic	ADJ
aeasj-261	110	29	growth	growth	NOUN
aeasj-261	110	30	while	while	SCONJ
aeasj-261	110	31	the	the	DET
aeasj-261	110	32	result	result	NOUN
aeasj-261	110	33	shows	show	VERB
aeasj-261	110	34	further	far	ADV
aeasj-261	110	35	that	that	SCONJ
aeasj-261	110	36	market	market	NOUN
aeasj-261	110	37	-	-	PUNCT
aeasj-261	110	38	based	base	VERB
aeasj-261	110	39	theory	theory	NOUN
aeasj-261	110	40	and	and	CCONJ
aeasj-261	110	41	the	the	DET
aeasj-261	110	42	financial	financial	ADJ
aeasj-261	110	43	service	service	NOUN
aeasj-261	110	44	theory	theory	NOUN
aeasj-261	110	45	were	be	AUX
aeasj-261	110	46	non	non	ADJ
aeasj-261	110	47	-	-	ADJ
aeasj-261	110	48	significant	significant	ADJ
aeasj-261	110	49	but	but	CCONJ
aeasj-261	110	50	exhibited	exhibit	VERB
aeasj-261	110	51	negative	negative	ADJ
aeasj-261	110	52	influence	influence	NOUN
aeasj-261	110	53	in	in	ADP
aeasj-261	110	54	promoting	promote	VERB
aeasj-261	110	55	economic	economic	ADJ
aeasj-261	110	56	growth	growth	NOUN
aeasj-261	110	57	.	.	PUNCT
aeasj-261	111	1	these	these	DET
aeasj-261	111	2	results	result	NOUN
aeasj-261	111	3	are	be	AUX
aeasj-261	111	4	consistent	consistent	ADJ
aeasj-261	111	5	with	with	ADP
aeasj-261	111	6	saibu	saibu	NOUN
aeasj-261	111	7	,	,	PUNCT
aeasj-261	111	8	bowale	bowale	NOUN
aeasj-261	111	9	and	and	CCONJ
aeasj-261	111	10	akinlo	akinlo	NOUN
aeasj-261	111	11	(	(	PUNCT
aeasj-261	111	12	2009	2009	NUM
aeasj-261	111	13	)	)	PUNCT
aeasj-261	111	14	findings	finding	NOUN
aeasj-261	111	15	.	.	PUNCT
aeasj-261	112	1	also	also	ADV
aeasj-261	112	2	,	,	PUNCT
aeasj-261	112	3	olofin	olofin	NOUN
aeasj-261	112	4	and	and	CCONJ
aeasj-261	112	5	afangideh	afangideh	NOUN
aeasj-261	112	6	(	(	PUNCT
aeasj-261	112	7	2009	2009	NUM
aeasj-261	112	8	)	)	PUNCT
aeasj-261	112	9	investigated	investigate	VERB
aeasj-261	112	10	the	the	DET
aeasj-261	112	11	role	role	NOUN
aeasj-261	112	12	of	of	ADP
aeasj-261	112	13	financial	financial	ADJ
aeasj-261	112	14	structure	structure	NOUN
aeasj-261	112	15	in	in	ADP
aeasj-261	112	16	economic	economic	ADJ
aeasj-261	112	17	development	development	NOUN
aeasj-261	112	18	in	in	ADP
aeasj-261	112	19	nigeria	nigeria	PROPN
aeasj-261	112	20	using	use	VERB
aeasj-261	112	21	aggregate	aggregate	ADJ
aeasj-261	112	22	annual	annual	ADJ
aeasj-261	112	23	data	datum	NOUN
aeasj-261	112	24	from	from	ADP
aeasj-261	112	25	1970	1970	NUM
aeasj-261	112	26	to	to	ADP
aeasj-261	112	27	2005	2005	NUM
aeasj-261	112	28	.	.	PUNCT
aeasj-261	113	1	it	it	PRON
aeasj-261	113	2	developed	develop	VERB
aeasj-261	113	3	a	a	DET
aeasj-261	113	4	small	small	ADJ
aeasj-261	113	5	macro	macro	ADJ
aeasj-261	113	6	econometric	econometric	ADJ
aeasj-261	113	7	model	model	NOUN
aeasj-261	113	8	to	to	PART
aeasj-261	113	9	capture	capture	VERB
aeasj-261	113	10	the	the	DET
aeasj-261	113	11	interrelationships	interrelationship	NOUN
aeasj-261	113	12	among	among	ADP
aeasj-261	113	13	aggregate	aggregate	ADJ
aeasj-261	113	14	bank	bank	NOUN
aeasj-261	113	15	credit	credit	NOUN
aeasj-261	113	16	activities	activity	NOUN
aeasj-261	113	17	,	,	PUNCT
aeasj-261	113	18	investment	investment	NOUN
aeasj-261	113	19	behaviour	behaviour	NOUN
aeasj-261	113	20	and	and	CCONJ
aeasj-261	113	21	economic	economic	ADJ
aeasj-261	113	22	growth	growth	NOUN
aeasj-261	113	23	given	give	VERB
aeasj-261	113	24	the	the	DET
aeasj-261	113	25	financial	financial	ADJ
aeasj-261	113	26	structure	structure	NOUN
aeasj-261	113	27	of	of	ADP
aeasj-261	113	28	the	the	DET
aeasj-261	113	29	economy	economy	NOUN
aeasj-261	113	30	.	.	PUNCT
aeasj-261	114	1	three	three	NUM
aeasj-261	114	2	stage	stage	NOUN
aeasj-261	114	3	least	least	ADJ
aeasj-261	114	4	square	square	ADJ
aeasj-261	114	5	estimation	estimation	NOUN
aeasj-261	114	6	technique	technique	NOUN
aeasj-261	114	7	was	be	AUX
aeasj-261	114	8	adopted	adopt	VERB
aeasj-261	114	9	.	.	PUNCT
aeasj-261	115	1	the	the	DET
aeasj-261	115	2	result	result	NOUN
aeasj-261	115	3	shows	show	VERB
aeasj-261	115	4	that	that	SCONJ
aeasj-261	115	5	financial	financial	ADJ
aeasj-261	115	6	structure	structure	NOUN
aeasj-261	115	7	has	have	VERB
aeasj-261	115	8	no	no	DET
aeasj-261	115	9	direct	direct	ADJ
aeasj-261	115	10	effect	effect	NOUN
aeasj-261	115	11	on	on	ADP
aeasj-261	115	12	output	output	NOUN
aeasj-261	115	13	growth	growth	NOUN
aeasj-261	115	14	but	but	CCONJ
aeasj-261	115	15	through	through	ADP
aeasj-261	115	16	bank	bank	NOUN
aeasj-261	115	17	credit	credit	NOUN
aeasj-261	115	18	and	and	CCONJ
aeasj-261	115	19	investment	investment	NOUN
aeasj-261	115	20	activities	activity	NOUN
aeasj-261	115	21	.	.	PUNCT
aeasj-261	116	1	the	the	DET
aeasj-261	116	2	finding	finding	NOUN
aeasj-261	116	3	from	from	ADP
aeasj-261	116	4	the	the	DET
aeasj-261	116	5	simulation	simulation	NOUN
aeasj-261	116	6	results	result	NOUN
aeasj-261	116	7	equally	equally	ADV
aeasj-261	116	8	confirmed	confirm	VERB
aeasj-261	116	9	that	that	SCONJ
aeasj-261	116	10	what	what	PRON
aeasj-261	116	11	matters	matter	VERB
aeasj-261	116	12	is	be	AUX
aeasj-261	116	13	overall	overall	ADJ
aeasj-261	116	14	financial	financial	ADJ
aeasj-261	116	15	development	development	NOUN
aeasj-261	116	16	and	and	CCONJ
aeasj-261	116	17	not	not	PART
aeasj-261	116	18	bank	bank	NOUN
aeasj-261	116	19	-	-	PUNCT
aeasj-261	116	20	based	base	VERB
aeasj-261	116	21	versus	versus	ADP
aeasj-261	116	22	market	market	NOUN
aeasj-261	116	23	-	-	PUNCT
aeasj-261	116	24	based	base	VERB
aeasj-261	116	25	debate	debate	NOUN
aeasj-261	116	26	.	.	PUNCT
aeasj-261	117	1	this	this	PRON
aeasj-261	117	2	supports	support	VERB
aeasj-261	117	3	financial	financial	ADJ
aeasj-261	117	4	services	service	NOUN
aeasj-261	117	5	theory	theory	NOUN
aeasj-261	117	6	.	.	PUNCT
aeasj-261	118	1	the	the	DET
aeasj-261	118	2	simulation	simulation	NOUN
aeasj-261	118	3	result	result	NOUN
aeasj-261	118	4	also	also	ADV
aeasj-261	118	5	confirmed	confirm	VERB
aeasj-261	118	6	that	that	SCONJ
aeasj-261	118	7	both	both	DET
aeasj-261	118	8	capital	capital	NOUN
aeasj-261	118	9	market	market	NOUN
aeasj-261	118	10	-	-	PUNCT
aeasj-261	118	11	based	base	VERB
aeasj-261	118	12	and	and	CCONJ
aeasj-261	118	13	bankbased	bankbase	VERB
aeasj-261	118	14	financial	financial	ADJ
aeasj-261	118	15	development	development	NOUN
aeasj-261	118	16	have	have	VERB
aeasj-261	118	17	similar	similar	ADJ
aeasj-261	118	18	impact	impact	NOUN
aeasj-261	118	19	on	on	ADP
aeasj-261	118	20	the	the	DET
aeasj-261	118	21	real	real	ADJ
aeasj-261	118	22	sector	sector	NOUN
aeasj-261	118	23	of	of	ADP
aeasj-261	118	24	the	the	DET
aeasj-261	118	25	economy	economy	NOUN
aeasj-261	118	26	,	,	PUNCT
aeasj-261	118	27	thereby	thereby	ADV
aeasj-261	118	28	relegating	relegate	VERB
aeasj-261	118	29	the	the	DET
aeasj-261	118	30	capital	capital	NOUN
aeasj-261	118	31	copyright	copyright	NOUN
aeasj-261	118	32	©	©	PROPN
aeasj-261	118	33	cc	cc	PROPN
aeasj-261	118	34	-	-	PUNCT
aeasj-261	118	35	by	by	ADP
aeasj-261	118	36	-	-	PUNCT
aeasj-261	118	37	nc	nc	PROPN
aeasj-261	118	38	2019	2019	NUM
aeasj-261	118	39	,	,	PUNCT
aeasj-261	118	40	cribfb	cribfb	PROPN
aeasj-261	118	41	|	|	ADV
aeasj-261	118	42	afbr	afbr	PROPN
aeasj-261	118	43	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	118	44	american	american	PROPN
aeasj-261	118	45	economic	economic	PROPN
aeasj-261	118	46	&	&	CCONJ
aeasj-261	118	47	social	social	PROPN
aeasj-261	118	48	review	review	PROPN
aeasj-261	118	49	vol	vol	NOUN
aeasj-261	118	50	.	.	PROPN
aeasj-261	119	1	5	5	NUM
aeasj-261	119	2	,	,	PUNCT
aeasj-261	119	3	no	no	INTJ
aeasj-261	119	4	.	.	NOUN
aeasj-261	119	5	1	1	NUM
aeasj-261	119	6	;	;	PUNCT
aeasj-261	120	1	2019	2019	NUM
aeasj-261	120	2	37	37	NUM
aeasj-261	120	3	market	market	NOUN
aeasj-261	120	4	-	-	PUNCT
aeasj-261	120	5	based	base	VERB
aeasj-261	120	6	versus	versus	ADP
aeasj-261	120	7	bank	bank	NOUN
aeasj-261	120	8	-	-	PUNCT
aeasj-261	120	9	based	base	VERB
aeasj-261	120	10	debate	debate	NOUN
aeasj-261	120	11	to	to	ADP
aeasj-261	120	12	the	the	DET
aeasj-261	120	13	background	background	NOUN
aeasj-261	120	14	,	,	PUNCT
aeasj-261	120	15	and	and	CCONJ
aeasj-261	120	16	favour	favour	VERB
aeasj-261	120	17	the	the	DET
aeasj-261	120	18	combination	combination	NOUN
aeasj-261	120	19	of	of	ADP
aeasj-261	120	20	the	the	DET
aeasj-261	120	21	both	both	NOUN
aeasj-261	120	22	.	.	PUNCT
aeasj-261	121	1	luintel	luintel	PROPN
aeasj-261	121	2	,	,	PUNCT
aeasj-261	121	3	khan	khan	PROPN
aeasj-261	121	4	,	,	PUNCT
aeasj-261	121	5	arestis	arestis	NOUN
aeasj-261	121	6	and	and	CCONJ
aeasj-261	121	7	theodoridis	theodoridis	PROPN
aeasj-261	121	8	(	(	PUNCT
aeasj-261	121	9	2008	2008	NUM
aeasj-261	121	10	)	)	PUNCT
aeasj-261	121	11	examined	examine	VERB
aeasj-261	121	12	the	the	DET
aeasj-261	121	13	relationship	relationship	NOUN
aeasj-261	121	14	between	between	ADP
aeasj-261	121	15	financial	financial	ADJ
aeasj-261	121	16	structure	structure	NOUN
aeasj-261	121	17	and	and	CCONJ
aeasj-261	121	18	economic	economic	ADJ
aeasj-261	121	19	growth	growth	NOUN
aeasj-261	121	20	using	use	VERB
aeasj-261	121	21	a	a	DET
aeasj-261	121	22	sample	sample	NOUN
aeasj-261	121	23	of	of	ADP
aeasj-261	121	24	fourteen	fourteen	NUM
aeasj-261	121	25	countries	country	NOUN
aeasj-261	121	26	for	for	ADP
aeasj-261	121	27	the	the	DET
aeasj-261	121	28	period	period	NOUN
aeasj-261	121	29	1976	1976	NUM
aeasj-261	121	30	to	to	ADP
aeasj-261	121	31	2005	2005	NUM
aeasj-261	121	32	.	.	PUNCT
aeasj-261	122	1	fully	fully	ADV
aeasj-261	122	2	modified	modify	VERB
aeasj-261	122	3	ols	ol	NOUN
aeasj-261	122	4	(	(	PUNCT
aeasj-261	122	5	fmols	fmol	NOUN
aeasj-261	122	6	)	)	PUNCT
aeasj-261	122	7	of	of	ADP
aeasj-261	122	8	phillips	phillip	NOUN
aeasj-261	122	9	and	and	CCONJ
aeasj-261	122	10	hansen	hansen	PROPN
aeasj-261	122	11	(	(	PUNCT
aeasj-261	122	12	1990	1990	NUM
aeasj-261	122	13	)	)	PUNCT
aeasj-261	122	14	was	be	AUX
aeasj-261	122	15	employed	employ	VERB
aeasj-261	122	16	and	and	CCONJ
aeasj-261	122	17	,	,	PUNCT
aeasj-261	122	18	thorough	thorough	ADJ
aeasj-261	122	19	scrutiny	scrutiny	NOUN
aeasj-261	122	20	of	of	ADP
aeasj-261	122	21	the	the	DET
aeasj-261	122	22	study	study	NOUN
aeasj-261	122	23	results	result	NOUN
aeasj-261	122	24	was	be	AUX
aeasj-261	122	25	done	do	VERB
aeasj-261	122	26	through	through	ADP
aeasj-261	122	27	bootstrap	bootstrap	NOUN
aeasj-261	122	28	exercises	exercise	NOUN
aeasj-261	122	29	.	.	PUNCT
aeasj-261	123	1	several	several	ADJ
aeasj-261	123	2	hypotheses	hypothesis	NOUN
aeasj-261	123	3	about	about	ADP
aeasj-261	123	4	the	the	DET
aeasj-261	123	5	prospective	prospective	ADJ
aeasj-261	123	6	role	role	NOUN
aeasj-261	123	7	of	of	ADP
aeasj-261	123	8	financial	financial	ADJ
aeasj-261	123	9	structure	structure	NOUN
aeasj-261	123	10	and	and	CCONJ
aeasj-261	123	11	financial	financial	ADJ
aeasj-261	123	12	development	development	NOUN
aeasj-261	123	13	on	on	ADP
aeasj-261	123	14	economic	economic	ADJ
aeasj-261	123	15	growth	growth	NOUN
aeasj-261	123	16	were	be	AUX
aeasj-261	123	17	tested	test	VERB
aeasj-261	123	18	.	.	PUNCT
aeasj-261	124	1	these	these	DET
aeasj-261	124	2	exercises	exercise	NOUN
aeasj-261	124	3	were	be	AUX
aeasj-261	124	4	done	do	VERB
aeasj-261	124	5	due	due	ADP
aeasj-261	124	6	to	to	ADP
aeasj-261	124	7	the	the	DET
aeasj-261	124	8	fact	fact	NOUN
aeasj-261	124	9	that	that	SCONJ
aeasj-261	124	10	much	much	ADJ
aeasj-261	124	11	of	of	ADP
aeasj-261	124	12	the	the	DET
aeasj-261	124	13	recent	recent	ADJ
aeasj-261	124	14	empirical	empirical	ADJ
aeasj-261	124	15	work	work	NOUN
aeasj-261	124	16	that	that	PRON
aeasj-261	124	17	analyzed	analyze	VERB
aeasj-261	124	18	multi	multi	ADJ
aeasj-261	124	19	-	-	ADJ
aeasj-261	124	20	country	country	NOUN
aeasj-261	124	21	dataset	dataset	NOUN
aeasj-261	124	22	at	at	ADP
aeasj-261	124	23	firm-	firm-	NOUN
aeasj-261	124	24	,	,	PUNCT
aeasj-261	124	25	industryand	industryand	NOUN
aeasj-261	124	26	aggregate	aggregate	ADJ
aeasj-261	124	27	-	-	PUNCT
aeasj-261	124	28	levels	level	NOUN
aeasj-261	124	29	utilizing	utilize	VERB
aeasj-261	124	30	the	the	DET
aeasj-261	124	31	panel	panel	NOUN
aeasj-261	124	32	and/or	and/or	CCONJ
aeasj-261	124	33	pure	pure	ADJ
aeasj-261	124	34	cross	cross	NOUN
aeasj-261	124	35	-	-	ADJ
aeasj-261	124	36	section	section	ADJ
aeasj-261	124	37	frameworks	framework	NOUN
aeasj-261	124	38	concluded	conclude	VERB
aeasj-261	124	39	that	that	SCONJ
aeasj-261	124	40	financial	financial	ADJ
aeasj-261	124	41	structure	structure	NOUN
aeasj-261	124	42	is	be	AUX
aeasj-261	124	43	irrelevant	irrelevant	ADJ
aeasj-261	124	44	.	.	PUNCT
aeasj-261	125	1	hence	hence	ADV
aeasj-261	125	2	,	,	PUNCT
aeasj-261	125	3	luintel	luintel	PROPN
aeasj-261	125	4	,	,	PUNCT
aeasj-261	125	5	khan	khan	PROPN
aeasj-261	125	6	,	,	PUNCT
aeasj-261	125	7	arestis	arestis	NOUN
aeasj-261	125	8	and	and	CCONJ
aeasj-261	125	9	theodoridis	theodoridis	PROPN
aeasj-261	125	10	(	(	PUNCT
aeasj-261	125	11	2008	2008	NUM
aeasj-261	125	12	)	)	PUNCT
aeasj-261	125	13	were	be	AUX
aeasj-261	125	14	among	among	ADP
aeasj-261	125	15	scholars	scholar	NOUN
aeasj-261	125	16	that	that	PRON
aeasj-261	125	17	have	have	AUX
aeasj-261	125	18	raised	raise	VERB
aeasj-261	125	19	doubts	doubt	NOUN
aeasj-261	125	20	about	about	ADP
aeasj-261	125	21	the	the	DET
aeasj-261	125	22	irrelevant	irrelevant	ADJ
aeasj-261	125	23	of	of	ADP
aeasj-261	125	24	financial	financial	ADJ
aeasj-261	125	25	structure	structure	NOUN
aeasj-261	125	26	in	in	ADP
aeasj-261	125	27	explaining	explain	VERB
aeasj-261	125	28	growth	growth	NOUN
aeasj-261	125	29	in	in	ADP
aeasj-261	125	30	multi	multi	ADJ
aeasj-261	125	31	-	-	ADJ
aeasj-261	125	32	country	country	ADJ
aeasj-261	125	33	studies	study	NOUN
aeasj-261	125	34	.	.	PUNCT
aeasj-261	126	1	in	in	ADP
aeasj-261	126	2	addressing	address	VERB
aeasj-261	126	3	this	this	DET
aeasj-261	126	4	concern	concern	NOUN
aeasj-261	126	5	the	the	DET
aeasj-261	126	6	study	study	NOUN
aeasj-261	126	7	analyzed	analyze	VERB
aeasj-261	126	8	14	14	NUM
aeasj-261	126	9	low	low	ADJ
aeasj-261	126	10	-	-	PUNCT
aeasj-261	126	11	and	and	CCONJ
aeasj-261	126	12	-	-	PUNCT
aeasj-261	126	13	middle	middle	ADJ
aeasj-261	126	14	income	income	NOUN
aeasj-261	126	15	countries	country	NOUN
aeasj-261	126	16	using	use	VERB
aeasj-261	126	17	both	both	DET
aeasj-261	126	18	time	time	NOUN
aeasj-261	126	19	series	series	NOUN
aeasj-261	126	20	and	and	CCONJ
aeasj-261	126	21	dynamic	dynamic	ADJ
aeasj-261	126	22	heterogeneous	heterogeneous	ADJ
aeasj-261	126	23	.	.	PUNCT
aeasj-261	127	1	evidence	evidence	NOUN
aeasj-261	127	2	from	from	ADP
aeasj-261	127	3	the	the	DET
aeasj-261	127	4	study	study	NOUN
aeasj-261	127	5	shows	show	VERB
aeasj-261	127	6	that	that	SCONJ
aeasj-261	127	7	cross	cross	ADJ
aeasj-261	127	8	-	-	ADJ
aeasj-261	127	9	country	country	ADJ
aeasj-261	127	10	heterogeneity	heterogeneity	NOUN
aeasj-261	127	11	can	can	AUX
aeasj-261	127	12	not	not	PART
aeasj-261	127	13	be	be	AUX
aeasj-261	127	14	addressed	address	VERB
aeasj-261	127	15	and	and	CCONJ
aeasj-261	127	16	this	this	DET
aeasj-261	127	17	mark	mark	NOUN
aeasj-261	127	18	important	important	ADJ
aeasj-261	127	19	cross	cross	ADJ
aeasj-261	127	20	-	-	ADJ
aeasj-261	127	21	country	country	ADJ
aeasj-261	127	22	differences	difference	NOUN
aeasj-261	127	23	in	in	ADP
aeasj-261	127	24	the	the	DET
aeasj-261	127	25	relationship	relationship	NOUN
aeasj-261	127	26	under	under	ADP
aeasj-261	127	27	investigations	investigation	NOUN
aeasj-261	127	28	.	.	PUNCT
aeasj-261	128	1	this	this	PRON
aeasj-261	128	2	shows	show	VERB
aeasj-261	128	3	that	that	SCONJ
aeasj-261	128	4	data	datum	NOUN
aeasj-261	128	5	from	from	ADP
aeasj-261	128	6	the	the	DET
aeasj-261	128	7	sampled	sample	VERB
aeasj-261	128	8	countries	country	NOUN
aeasj-261	128	9	can	can	AUX
aeasj-261	128	10	not	not	PART
aeasj-261	128	11	be	be	AUX
aeasj-261	128	12	pooled	pool	VERB
aeasj-261	128	13	.	.	PUNCT
aeasj-261	129	1	this	this	PRON
aeasj-261	129	2	also	also	ADV
aeasj-261	129	3	underpins	underpin	VERB
aeasj-261	129	4	our	our	PRON
aeasj-261	129	5	focus	focus	NOUN
aeasj-261	129	6	on	on	ADP
aeasj-261	129	7	a	a	DET
aeasj-261	129	8	time	time	NOUN
aeasj-261	129	9	series	series	NOUN
aeasj-261	129	10	analysis	analysis	NOUN
aeasj-261	129	11	.	.	PUNCT
aeasj-261	130	1	the	the	DET
aeasj-261	130	2	study	study	NOUN
aeasj-261	130	3	also	also	ADV
aeasj-261	130	4	revealed	reveal	VERB
aeasj-261	130	5	that	that	SCONJ
aeasj-261	130	6	panel	panel	NOUN
aeasj-261	130	7	and	and	CCONJ
aeasj-261	130	8	the	the	DET
aeasj-261	130	9	country	country	NOUN
aeasj-261	130	10	-	-	PUNCT
aeasj-261	130	11	specific	specific	ADJ
aeasj-261	130	12	parameters	parameter	NOUN
aeasj-261	130	13	(	(	PUNCT
aeasj-261	130	14	estimates	estimate	NOUN
aeasj-261	130	15	)	)	PUNCT
aeasj-261	130	16	do	do	AUX
aeasj-261	130	17	not	not	PART
aeasj-261	130	18	correspond	correspond	VERB
aeasj-261	130	19	hence	hence	ADV
aeasj-261	130	20	limiting	limit	VERB
aeasj-261	130	21	the	the	DET
aeasj-261	130	22	economic	economic	ADJ
aeasj-261	130	23	value	value	NOUN
aeasj-261	130	24	of	of	ADP
aeasj-261	130	25	panel	panel	NOUN
aeasj-261	130	26	estimates	estimate	NOUN
aeasj-261	130	27	.	.	PUNCT
aeasj-261	131	1	furthermore	furthermore	ADV
aeasj-261	131	2	,	,	PUNCT
aeasj-261	131	3	the	the	DET
aeasj-261	131	4	study	study	NOUN
aeasj-261	131	5	revealed	reveal	VERB
aeasj-261	131	6	that	that	SCONJ
aeasj-261	131	7	various	various	ADJ
aeasj-261	131	8	countries	country	NOUN
aeasj-261	131	9	in	in	ADP
aeasj-261	131	10	the	the	DET
aeasj-261	131	11	panel	panel	NOUN
aeasj-261	131	12	study	study	NOUN
aeasj-261	131	13	are	be	AUX
aeasj-261	131	14	on	on	ADP
aeasj-261	131	15	the	the	DET
aeasj-261	131	16	balanced	balanced	ADJ
aeasj-261	131	17	growth	growth	NOUN
aeasj-261	131	18	path	path	NOUN
aeasj-261	131	19	raising	raise	VERB
aeasj-261	131	20	concern	concern	NOUN
aeasj-261	131	21	on	on	ADP
aeasj-261	131	22	pooled	pool	VERB
aeasj-261	131	23	regressions	regression	NOUN
aeasj-261	131	24	.	.	PUNCT
aeasj-261	132	1	overall	overall	ADV
aeasj-261	132	2	,	,	PUNCT
aeasj-261	132	3	the	the	DET
aeasj-261	132	4	study	study	NOUN
aeasj-261	132	5	reveals	reveal	VERB
aeasj-261	132	6	that	that	SCONJ
aeasj-261	132	7	the	the	DET
aeasj-261	132	8	irrelevance	irrelevance	NOUN
aeasj-261	132	9	of	of	ADP
aeasj-261	132	10	financial	financial	ADJ
aeasj-261	132	11	structure	structure	NOUN
aeasj-261	132	12	in	in	ADP
aeasj-261	132	13	panel	panel	NOUN
aeasj-261	132	14	or	or	CCONJ
aeasj-261	132	15	cross	cross	NOUN
aeasj-261	132	16	section	section	NOUN
aeasj-261	132	17	studies	study	NOUN
aeasj-261	132	18	may	may	AUX
aeasj-261	132	19	be	be	AUX
aeasj-261	132	20	because	because	SCONJ
aeasj-261	132	21	they	they	PRON
aeasj-261	132	22	do	do	AUX
aeasj-261	132	23	not	not	PART
aeasj-261	132	24	sufficiently	sufficiently	ADV
aeasj-261	132	25	account	account	VERB
aeasj-261	132	26	for	for	ADP
aeasj-261	132	27	the	the	DET
aeasj-261	132	28	cross	cross	NOUN
aeasj-261	132	29	country	country	NOUN
aeasj-261	132	30	heterogeneity	heterogeneity	NOUN
aeasj-261	132	31	.	.	PUNCT
aeasj-261	133	1	nevertheless	nevertheless	ADV
aeasj-261	133	2	,	,	PUNCT
aeasj-261	133	3	the	the	DET
aeasj-261	133	4	study	study	NOUN
aeasj-261	133	5	shows	show	VERB
aeasj-261	133	6	that	that	SCONJ
aeasj-261	133	7	output	output	NOUN
aeasj-261	133	8	level	level	NOUN
aeasj-261	133	9	,	,	PUNCT
aeasj-261	133	10	capital	capital	NOUN
aeasj-261	133	11	stock	stock	NOUN
aeasj-261	133	12	,	,	PUNCT
aeasj-261	133	13	financial	financial	ADJ
aeasj-261	133	14	structure	structure	NOUN
aeasj-261	133	15	and	and	CCONJ
aeasj-261	133	16	financial	financial	ADJ
aeasj-261	133	17	development	development	NOUN
aeasj-261	133	18	variables	variable	NOUN
aeasj-261	133	19	are	be	AUX
aeasj-261	133	20	co	co	ADJ
aeasj-261	133	21	-	-	VERB
aeasj-261	133	22	integrated	integrated	ADJ
aeasj-261	133	23	.	.	PUNCT
aeasj-261	134	1	also	also	ADV
aeasj-261	134	2	,	,	PUNCT
aeasj-261	134	3	the	the	DET
aeasj-261	134	4	study	study	NOUN
aeasj-261	134	5	reveals	reveal	VERB
aeasj-261	134	6	that	that	SCONJ
aeasj-261	134	7	,	,	PUNCT
aeasj-261	134	8	financial	financial	ADJ
aeasj-261	134	9	structure	structure	NOUN
aeasj-261	134	10	and	and	CCONJ
aeasj-261	134	11	financial	financial	ADJ
aeasj-261	134	12	development	development	NOUN
aeasj-261	134	13	significantly	significantly	ADV
aeasj-261	134	14	explain	explain	VERB
aeasj-261	134	15	economic	economic	ADJ
aeasj-261	134	16	growth	growth	NOUN
aeasj-261	134	17	for	for	ADP
aeasj-261	134	18	the	the	DET
aeasj-261	134	19	majority	majority	NOUN
aeasj-261	134	20	of	of	ADP
aeasj-261	134	21	the	the	DET
aeasj-261	134	22	sampled	sample	VERB
aeasj-261	134	23	countries	country	NOUN
aeasj-261	134	24	,	,	PUNCT
aeasj-261	134	25	this	this	PRON
aeasj-261	134	26	holds	hold	VERB
aeasj-261	134	27	under	under	ADP
aeasj-261	134	28	time	time	NOUN
aeasj-261	134	29	series	series	NOUN
aeasj-261	134	30	and	and	CCONJ
aeasj-261	134	31	panel	panel	NOUN
aeasj-261	134	32	estimates	estimate	NOUN
aeasj-261	134	33	.	.	PUNCT
aeasj-261	135	1	the	the	DET
aeasj-261	135	2	literature	literature	NOUN
aeasj-261	135	3	reviewed	review	VERB
aeasj-261	135	4	suggests	suggest	VERB
aeasj-261	135	5	that	that	SCONJ
aeasj-261	135	6	the	the	DET
aeasj-261	135	7	issue	issue	NOUN
aeasj-261	135	8	between	between	ADP
aeasj-261	135	9	financial	financial	ADJ
aeasj-261	135	10	structure	structure	NOUN
aeasj-261	135	11	and	and	CCONJ
aeasj-261	135	12	its	its	PRON
aeasj-261	135	13	impact	impact	NOUN
aeasj-261	135	14	on	on	ADP
aeasj-261	135	15	economic	economic	ADJ
aeasj-261	135	16	growth	growth	NOUN
aeasj-261	135	17	is	be	AUX
aeasj-261	135	18	yet	yet	ADV
aeasj-261	135	19	to	to	PART
aeasj-261	135	20	be	be	AUX
aeasj-261	135	21	resolved	resolve	VERB
aeasj-261	135	22	.	.	PUNCT
aeasj-261	136	1	specifically	specifically	ADV
aeasj-261	136	2	,	,	PUNCT
aeasj-261	136	3	the	the	DET
aeasj-261	136	4	argument	argument	NOUN
aeasj-261	136	5	on	on	ADP
aeasj-261	136	6	the	the	DET
aeasj-261	136	7	relative	relative	ADJ
aeasj-261	136	8	importance	importance	NOUN
aeasj-261	136	9	of	of	ADP
aeasj-261	136	10	bank	bank	NOUN
aeasj-261	136	11	based	base	VERB
aeasj-261	136	12	and	and	CCONJ
aeasj-261	136	13	market	market	NOUN
aeasj-261	136	14	based	base	VERB
aeasj-261	136	15	to	to	ADP
aeasj-261	136	16	economic	economic	ADJ
aeasj-261	136	17	growth	growth	NOUN
aeasj-261	136	18	is	be	AUX
aeasj-261	136	19	still	still	ADV
aeasj-261	136	20	on	on	ADV
aeasj-261	136	21	.	.	PUNCT
aeasj-261	137	1	cross	cross	ADJ
aeasj-261	137	2	-	-	NOUN
aeasj-261	137	3	country	country	NOUN
aeasj-261	137	4	and	and	CCONJ
aeasj-261	137	5	country	country	NOUN
aeasj-261	137	6	-	-	PUNCT
aeasj-261	137	7	specific	specific	ADJ
aeasj-261	137	8	studies	study	NOUN
aeasj-261	137	9	financial	financial	ADJ
aeasj-261	137	10	structure	structure	NOUN
aeasj-261	137	11	and	and	CCONJ
aeasj-261	137	12	its	its	PRON
aeasj-261	137	13	impact	impact	NOUN
aeasj-261	137	14	on	on	ADP
aeasj-261	137	15	economic	economic	ADJ
aeasj-261	137	16	growth	growth	NOUN
aeasj-261	137	17	have	have	AUX
aeasj-261	137	18	been	be	AUX
aeasj-261	137	19	carried	carry	VERB
aeasj-261	137	20	out	out	ADP
aeasj-261	137	21	but	but	CCONJ
aeasj-261	137	22	the	the	DET
aeasj-261	137	23	controversy	controversy	NOUN
aeasj-261	137	24	still	still	ADV
aeasj-261	137	25	persists	persist	VERB
aeasj-261	137	26	.	.	PUNCT
aeasj-261	138	1	however	however	ADV
aeasj-261	138	2	,	,	PUNCT
aeasj-261	138	3	evidence	evidence	NOUN
aeasj-261	138	4	on	on	ADP
aeasj-261	138	5	nigerian	nigerian	ADJ
aeasj-261	138	6	economy	economy	NOUN
aeasj-261	138	7	is	be	AUX
aeasj-261	138	8	still	still	ADV
aeasj-261	138	9	scanty	scanty	ADJ
aeasj-261	138	10	except	except	SCONJ
aeasj-261	138	11	on	on	ADP
aeasj-261	138	12	cross	cross	ADJ
aeasj-261	138	13	-	-	ADJ
aeasj-261	138	14	sectional	sectional	ADJ
aeasj-261	138	15	basics	basic	NOUN
aeasj-261	138	16	where	where	SCONJ
aeasj-261	138	17	nigerian	nigerian	ADJ
aeasj-261	138	18	data	datum	NOUN
aeasj-261	138	19	are	be	AUX
aeasj-261	138	20	lumped	lump	VERB
aeasj-261	138	21	up	up	ADP
aeasj-261	138	22	with	with	ADP
aeasj-261	138	23	other	other	ADJ
aeasj-261	138	24	countries	country	NOUN
aeasj-261	138	25	.	.	PUNCT
aeasj-261	139	1	therefore	therefore	ADV
aeasj-261	139	2	,	,	PUNCT
aeasj-261	139	3	it	it	PRON
aeasj-261	139	4	is	be	AUX
aeasj-261	139	5	imperative	imperative	ADJ
aeasj-261	139	6	to	to	PART
aeasj-261	139	7	examine	examine	VERB
aeasj-261	139	8	whether	whether	SCONJ
aeasj-261	139	9	changes	change	NOUN
aeasj-261	139	10	in	in	ADP
aeasj-261	139	11	financial	financial	ADJ
aeasj-261	139	12	structure	structure	NOUN
aeasj-261	139	13	or	or	CCONJ
aeasj-261	139	14	the	the	DET
aeasj-261	139	15	overall	overall	ADJ
aeasj-261	139	16	financial	financial	ADJ
aeasj-261	139	17	systems	system	NOUN
aeasj-261	139	18	impact	impact	NOUN
aeasj-261	139	19	on	on	ADP
aeasj-261	139	20	a	a	DET
aeasj-261	139	21	typical	typical	ADJ
aeasj-261	139	22	developing	develop	VERB
aeasj-261	139	23	economy	economy	NOUN
aeasj-261	139	24	like	like	ADP
aeasj-261	139	25	nigeria	nigeria	PROPN
aeasj-261	139	26	,	,	PUNCT
aeasj-261	139	27	whose	whose	DET
aeasj-261	139	28	overall	overall	ADJ
aeasj-261	139	29	financial	financial	ADJ
aeasj-261	139	30	sector	sector	NOUN
aeasj-261	139	31	is	be	AUX
aeasj-261	139	32	expanding	expand	VERB
aeasj-261	139	33	both	both	PRON
aeasj-261	139	34	in	in	ADP
aeasj-261	139	35	size	size	NOUN
aeasj-261	139	36	and	and	CCONJ
aeasj-261	139	37	complexities	complexity	NOUN
aeasj-261	139	38	.	.	PUNCT
aeasj-261	140	1	this	this	DET
aeasj-261	140	2	study	study	NOUN
aeasj-261	140	3	intends	intend	VERB
aeasj-261	140	4	to	to	PART
aeasj-261	140	5	contribute	contribute	VERB
aeasj-261	140	6	to	to	ADP
aeasj-261	140	7	the	the	DET
aeasj-261	140	8	existing	exist	VERB
aeasj-261	140	9	literature	literature	NOUN
aeasj-261	140	10	.	.	PUNCT
aeasj-261	141	1	this	this	PRON
aeasj-261	141	2	is	be	AUX
aeasj-261	141	3	done	do	VERB
aeasj-261	141	4	by	by	ADP
aeasj-261	141	5	utilizing	utilize	VERB
aeasj-261	141	6	annual	annual	ADJ
aeasj-261	141	7	time	time	NOUN
aeasj-261	141	8	series	series	PROPN
aeasj-261	141	9	data	datum	NOUN
aeasj-261	141	10	from	from	ADP
aeasj-261	141	11	1981	1981	NUM
aeasj-261	141	12	-	-	SYM
aeasj-261	141	13	2017	2017	NUM
aeasj-261	141	14	to	to	PART
aeasj-261	141	15	develop	develop	VERB
aeasj-261	141	16	a	a	DET
aeasj-261	141	17	model	model	NOUN
aeasj-261	141	18	that	that	PRON
aeasj-261	141	19	captures	capture	VERB
aeasj-261	141	20	the	the	DET
aeasj-261	141	21	relationships	relationship	NOUN
aeasj-261	141	22	between	between	ADP
aeasj-261	141	23	financial	financial	ADJ
aeasj-261	141	24	structure	structure	NOUN
aeasj-261	141	25	variables	variable	NOUN
aeasj-261	141	26	and	and	CCONJ
aeasj-261	141	27	economic	economic	ADJ
aeasj-261	141	28	growth	growth	NOUN
aeasj-261	141	29	.	.	PUNCT
aeasj-261	142	1	3	3	X
aeasj-261	142	2	.	.	X
aeasj-261	142	3	methodology	methodology	NOUN
aeasj-261	142	4	3.1	3.1	NUM
aeasj-261	142	5	data	datum	NOUN
aeasj-261	142	6	and	and	CCONJ
aeasj-261	142	7	sources	source	NOUN
aeasj-261	142	8	the	the	DET
aeasj-261	142	9	annual	annual	ADJ
aeasj-261	142	10	data	datum	NOUN
aeasj-261	142	11	for	for	ADP
aeasj-261	142	12	this	this	DET
aeasj-261	142	13	study	study	NOUN
aeasj-261	142	14	were	be	AUX
aeasj-261	142	15	basically	basically	ADV
aeasj-261	142	16	from	from	ADP
aeasj-261	142	17	secondary	secondary	ADJ
aeasj-261	142	18	sources	source	NOUN
aeasj-261	142	19	.	.	PUNCT
aeasj-261	143	1	specifically	specifically	ADV
aeasj-261	143	2	,	,	PUNCT
aeasj-261	143	3	the	the	DET
aeasj-261	143	4	data	datum	NOUN
aeasj-261	143	5	were	be	AUX
aeasj-261	143	6	from	from	ADP
aeasj-261	143	7	central	central	ADJ
aeasj-261	143	8	bank	bank	PROPN
aeasj-261	143	9	of	of	ADP
aeasj-261	143	10	nigeria	nigeria	PROPN
aeasj-261	143	11	(	(	PUNCT
aeasj-261	143	12	cbn	cbn	PROPN
aeasj-261	143	13	)	)	PUNCT
aeasj-261	143	14	statistical	statistical	ADJ
aeasj-261	143	15	bulletin	bulletin	NOUN
aeasj-261	143	16	,	,	PUNCT
aeasj-261	143	17	various	various	ADJ
aeasj-261	143	18	issues	issue	NOUN
aeasj-261	143	19	,	,	PUNCT
aeasj-261	143	20	securities	security	NOUN
aeasj-261	143	21	and	and	CCONJ
aeasj-261	143	22	exchange	exchange	PROPN
aeasj-261	143	23	commission	commission	PROPN
aeasj-261	143	24	,	,	PUNCT
aeasj-261	143	25	nigeria	nigeria	PROPN
aeasj-261	143	26	(	(	PUNCT
aeasj-261	143	27	2017	2017	NUM
aeasj-261	143	28	)	)	PUNCT
aeasj-261	143	29	and	and	CCONJ
aeasj-261	143	30	world	world	NOUN
aeasj-261	143	31	development	development	NOUN
aeasj-261	143	32	indicators	indicator	NOUN
aeasj-261	143	33	(	(	PUNCT
aeasj-261	143	34	wdi	wdi	PROPN
aeasj-261	143	35	)	)	PUNCT
aeasj-261	143	36	.	.	PUNCT
aeasj-261	144	1	the	the	DET
aeasj-261	144	2	annual	annual	ADJ
aeasj-261	144	3	data	data	NOUN
aeasj-261	144	4	covers	cover	VERB
aeasj-261	144	5	the	the	DET
aeasj-261	144	6	sample	sample	NOUN
aeasj-261	144	7	period	period	NOUN
aeasj-261	144	8	,	,	PUNCT
aeasj-261	144	9	1981	1981	NUM
aeasj-261	144	10	-	-	SYM
aeasj-261	144	11	2017	2017	NUM
aeasj-261	144	12	.	.	PUNCT
aeasj-261	145	1	the	the	DET
aeasj-261	145	2	choice	choice	NOUN
aeasj-261	145	3	of	of	ADP
aeasj-261	145	4	the	the	DET
aeasj-261	145	5	period	period	NOUN
aeasj-261	145	6	and	and	CCONJ
aeasj-261	145	7	frequency	frequency	NOUN
aeasj-261	145	8	of	of	ADP
aeasj-261	145	9	data	datum	NOUN
aeasj-261	145	10	was	be	AUX
aeasj-261	145	11	because	because	SCONJ
aeasj-261	145	12	of	of	ADP
aeasj-261	145	13	availability	availability	NOUN
aeasj-261	145	14	of	of	ADP
aeasj-261	145	15	data	datum	NOUN
aeasj-261	145	16	.	.	PUNCT
aeasj-261	146	1	the	the	DET
aeasj-261	146	2	variables	variable	NOUN
aeasj-261	146	3	used	use	VERB
aeasj-261	146	4	in	in	ADP
aeasj-261	146	5	the	the	DET
aeasj-261	146	6	model	model	NOUN
aeasj-261	146	7	specification	specification	NOUN
aeasj-261	146	8	are	be	AUX
aeasj-261	146	9	real	real	ADJ
aeasj-261	146	10	gross	gross	ADJ
aeasj-261	146	11	domestic	domestic	ADJ
aeasj-261	146	12	product	product	NOUN
aeasj-261	146	13	growth	growth	NOUN
aeasj-261	146	14	which	which	PRON
aeasj-261	146	15	is	be	AUX
aeasj-261	146	16	used	use	VERB
aeasj-261	146	17	to	to	PART
aeasj-261	146	18	measure	measure	VERB
aeasj-261	146	19	economic	economic	ADJ
aeasj-261	146	20	growth	growth	NOUN
aeasj-261	146	21	as	as	ADP
aeasj-261	146	22	the	the	DET
aeasj-261	146	23	dependent	dependent	ADJ
aeasj-261	146	24	variable	variable	NOUN
aeasj-261	146	25	while	while	SCONJ
aeasj-261	146	26	labour	labour	PROPN
aeasj-261	146	27	employed	employ	VERB
aeasj-261	146	28	,	,	PUNCT
aeasj-261	146	29	represented	represent	VERB
aeasj-261	146	30	by	by	ADP
aeasj-261	146	31	percent	percent	NOUN
aeasj-261	146	32	growth	growth	NOUN
aeasj-261	146	33	in	in	ADP
aeasj-261	146	34	labour	labour	ADJ
aeasj-261	146	35	force	force	NOUN
aeasj-261	146	36	participation	participation	NOUN
aeasj-261	146	37	,	,	PUNCT
aeasj-261	146	38	kp	kp	PROPN
aeasj-261	146	39	is	be	AUX
aeasj-261	146	40	the	the	DET
aeasj-261	146	41	physical	physical	ADJ
aeasj-261	146	42	capital	capital	NOUN
aeasj-261	146	43	or	or	CCONJ
aeasj-261	146	44	investment	investment	NOUN
aeasj-261	146	45	,	,	PUNCT
aeasj-261	146	46	captured	capture	VERB
aeasj-261	146	47	by	by	ADP
aeasj-261	146	48	log	log	NOUN
aeasj-261	146	49	gross	gross	ADJ
aeasj-261	146	50	fixed	fix	VERB
aeasj-261	146	51	capital	capital	NOUN
aeasj-261	146	52	formation	formation	NOUN
aeasj-261	146	53	as	as	ADP
aeasj-261	146	54	percent	percent	NOUN
aeasj-261	146	55	of	of	ADP
aeasj-261	146	56	gdp	gdp	NOUN
aeasj-261	146	57	,	,	PUNCT
aeasj-261	146	58	financial	financial	ADJ
aeasj-261	146	59	structure	structure	NOUN
aeasj-261	146	60	,	,	PUNCT
aeasj-261	146	61	represented	represent	VERB
aeasj-261	146	62	by	by	ADP
aeasj-261	146	63	the	the	DET
aeasj-261	146	64	stock	stock	NOUN
aeasj-261	146	65	market	market	NOUN
aeasj-261	146	66	capitalization	capitalization	NOUN
aeasj-261	146	67	ratio	ratio	NOUN
aeasj-261	146	68	over	over	ADP
aeasj-261	146	69	credit	credit	NOUN
aeasj-261	146	70	to	to	ADP
aeasj-261	146	71	private	private	ADJ
aeasj-261	146	72	sector	sector	NOUN
aeasj-261	146	73	ratio	ratio	NOUN
aeasj-261	146	74	,	,	PUNCT
aeasj-261	146	75	degree	degree	NOUN
aeasj-261	146	76	of	of	ADP
aeasj-261	146	77	openness	openness	NOUN
aeasj-261	146	78	,	,	PUNCT
aeasj-261	146	79	government	government	NOUN
aeasj-261	146	80	expenditure	expenditure	NOUN
aeasj-261	146	81	/	/	SYM
aeasj-261	146	82	gdp	gdp	NOUN
aeasj-261	146	83	and	and	CCONJ
aeasj-261	146	84	inflation	inflation	NOUN
aeasj-261	146	85	served	serve	VERB
aeasj-261	146	86	as	as	ADP
aeasj-261	146	87	the	the	DET
aeasj-261	146	88	explanatory	explanatory	ADJ
aeasj-261	146	89	variables	variable	NOUN
aeasj-261	146	90	.	.	PUNCT
aeasj-261	147	1	3.2	3.2	NUM
aeasj-261	147	2	model	model	NOUN
aeasj-261	147	3	specification	specification	NOUN
aeasj-261	147	4	3.2.1	3.2.1	NUM
aeasj-261	147	5	analytical	analytical	ADJ
aeasj-261	147	6	framework	framework	NOUN
aeasj-261	147	7	the	the	DET
aeasj-261	147	8	analytical	analytical	ADJ
aeasj-261	147	9	framework	framework	NOUN
aeasj-261	147	10	of	of	ADP
aeasj-261	147	11	this	this	DET
aeasj-261	147	12	study	study	NOUN
aeasj-261	147	13	is	be	AUX
aeasj-261	147	14	based	base	VERB
aeasj-261	147	15	on	on	ADP
aeasj-261	147	16	the	the	DET
aeasj-261	147	17	neoclassical	neoclassical	ADJ
aeasj-261	147	18	model	model	NOUN
aeasj-261	147	19	of	of	ADP
aeasj-261	147	20	economic	economic	ADJ
aeasj-261	147	21	growth	growth	NOUN
aeasj-261	147	22	which	which	PRON
aeasj-261	147	23	stresses	stress	VERB
aeasj-261	147	24	capital	capital	NOUN
aeasj-261	147	25	and	and	CCONJ
aeasj-261	147	26	labour	labour	NOUN
aeasj-261	147	27	as	as	ADP
aeasj-261	147	28	the	the	DET
aeasj-261	147	29	main	main	ADJ
aeasj-261	147	30	determinants	determinant	NOUN
aeasj-261	147	31	of	of	ADP
aeasj-261	147	32	output	output	NOUN
aeasj-261	147	33	(	(	PUNCT
aeasj-261	147	34	economic	economic	ADJ
aeasj-261	147	35	growth	growth	NOUN
aeasj-261	147	36	)	)	PUNCT
aeasj-261	147	37	.	.	PUNCT
aeasj-261	148	1	technological	technological	ADJ
aeasj-261	148	2	progress	progress	NOUN
aeasj-261	148	3	is	be	AUX
aeasj-261	148	4	generally	generally	ADV
aeasj-261	148	5	acclaimed	acclaim	VERB
aeasj-261	148	6	as	as	ADP
aeasj-261	148	7	an	an	DET
aeasj-261	148	8	additional	additional	ADJ
aeasj-261	148	9	determinant	determinant	NOUN
aeasj-261	148	10	of	of	ADP
aeasj-261	148	11	output	output	NOUN
aeasj-261	148	12	and	and	CCONJ
aeasj-261	148	13	it	it	PRON
aeasj-261	148	14	comes	come	VERB
aeasj-261	148	15	into	into	ADP
aeasj-261	148	16	the	the	DET
aeasj-261	148	17	model	model	NOUN
aeasj-261	148	18	as	as	ADP
aeasj-261	148	19	a	a	DET
aeasj-261	148	20	time	time	NOUN
aeasj-261	148	21	related	relate	VERB
aeasj-261	148	22	trend	trend	NOUN
aeasj-261	148	23	(	(	PUNCT
aeasj-261	148	24	t	t	NOUN
aeasj-261	148	25	)	)	PUNCT
aeasj-261	148	26	.	.	PUNCT
aeasj-261	149	1	according	accord	VERB
aeasj-261	149	2	to	to	ADP
aeasj-261	149	3	the	the	DET
aeasj-261	149	4	neoclassical	neoclassical	ADJ
aeasj-261	149	5	model	model	NOUN
aeasj-261	149	6	,	,	PUNCT
aeasj-261	149	7	the	the	DET
aeasj-261	149	8	relationship	relationship	NOUN
aeasj-261	149	9	between	between	ADP
aeasj-261	149	10	economic	economic	ADJ
aeasj-261	149	11	growth	growth	NOUN
aeasj-261	149	12	and	and	CCONJ
aeasj-261	149	13	these	these	DET
aeasj-261	149	14	variables	variable	NOUN
aeasj-261	149	15	is	be	AUX
aeasj-261	149	16	expressed	express	VERB
aeasj-261	149	17	in	in	ADP
aeasj-261	149	18	the	the	DET
aeasj-261	149	19	form	form	NOUN
aeasj-261	149	20	of	of	ADP
aeasj-261	149	21	a	a	DET
aeasj-261	149	22	production	production	NOUN
aeasj-261	149	23	function	function	NOUN
aeasj-261	149	24	.	.	PUNCT
aeasj-261	150	1	therefore	therefore	ADV
aeasj-261	150	2	,	,	PUNCT
aeasj-261	150	3	the	the	DET
aeasj-261	150	4	conventional	conventional	ADJ
aeasj-261	150	5	form	form	NOUN
aeasj-261	150	6	of	of	ADP
aeasj-261	150	7	cobb	cobb	PROPN
aeasj-261	150	8	douglas	douglas	PROPN
aeasj-261	150	9	production	production	PROPN
aeasj-261	150	10	function	function	NOUN
aeasj-261	150	11	as	as	ADP
aeasj-261	150	12	in	in	ADP
aeasj-261	150	13	saibu	saibu	PROPN
aeasj-261	150	14	et	et	PROPN
aeasj-261	150	15	al	al	PROPN
aeasj-261	150	16	,	,	PUNCT
aeasj-261	150	17	(	(	PUNCT
aeasj-261	150	18	2009	2009	NUM
aeasj-261	150	19	)	)	PUNCT
aeasj-261	150	20	is	be	AUX
aeasj-261	150	21	adopted	adopt	VERB
aeasj-261	150	22	as	as	ADP
aeasj-261	150	23	basis	basis	NOUN
aeasj-261	150	24	.	.	PUNCT
aeasj-261	151	1	thus	thus	ADV
aeasj-261	151	2	:	:	PUNCT
aeasj-261	151	3	y	y	PROPN
aeasj-261	151	4	=	=	PUNCT
aeasj-261	151	5	alα	alα	INTJ
aeasj-261	151	6	kβ	kβ	X
aeasj-261	151	7	(	(	PUNCT
aeasj-261	151	8	1	1	NUM
aeasj-261	151	9	)	)	PUNCT
aeasj-261	151	10	where	where	SCONJ
aeasj-261	151	11	α	α	X
aeasj-261	151	12	,	,	PUNCT
aeasj-261	151	13	β>0	β>0	ADJ
aeasj-261	151	14	copyright	copyright	NOUN
aeasj-261	151	15	©	©	PROPN
aeasj-261	151	16	cc	cc	PROPN
aeasj-261	151	17	-	-	PUNCT
aeasj-261	151	18	by	by	ADP
aeasj-261	151	19	-	-	PUNCT
aeasj-261	151	20	nc	nc	PROPN
aeasj-261	151	21	2019	2019	NUM
aeasj-261	151	22	,	,	PUNCT
aeasj-261	151	23	cribfb	cribfb	PROPN
aeasj-261	151	24	|	|	ADV
aeasj-261	151	25	afbr	afbr	PROPN
aeasj-261	151	26	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	151	27	american	american	PROPN
aeasj-261	151	28	economic	economic	PROPN
aeasj-261	151	29	&	&	CCONJ
aeasj-261	151	30	social	social	PROPN
aeasj-261	151	31	review	review	PROPN
aeasj-261	151	32	vol	vol	NOUN
aeasj-261	151	33	.	.	PROPN
aeasj-261	152	1	5	5	NUM
aeasj-261	152	2	,	,	PUNCT
aeasj-261	152	3	no	no	INTJ
aeasj-261	152	4	.	.	NOUN
aeasj-261	152	5	1	1	NUM
aeasj-261	152	6	;	;	PUNCT
aeasj-261	152	7	2019	2019	NUM
aeasj-261	152	8	38	38	NUM
aeasj-261	152	9	where	where	SCONJ
aeasj-261	152	10	y	y	PROPN
aeasj-261	152	11	represents	represent	VERB
aeasj-261	152	12	output	output	NOUN
aeasj-261	152	13	produced	produce	VERB
aeasj-261	152	14	,	,	PUNCT
aeasj-261	152	15	l	l	NOUN
aeasj-261	152	16	is	be	AUX
aeasj-261	152	17	the	the	DET
aeasj-261	152	18	utilized	utilize	VERB
aeasj-261	152	19	labour	labour	NOUN
aeasj-261	152	20	,	,	PUNCT
aeasj-261	152	21	k	k	PROPN
aeasj-261	152	22	is	be	AUX
aeasj-261	152	23	the	the	DET
aeasj-261	152	24	utilized	utilize	VERB
aeasj-261	152	25	capital	capital	NOUN
aeasj-261	152	26	and	and	CCONJ
aeasj-261	152	27	α	α	NOUN
aeasj-261	152	28	,	,	PUNCT
aeasj-261	152	29	β	β	X
aeasj-261	152	30	and	and	CCONJ
aeasj-261	152	31	are	be	AUX
aeasj-261	152	32	the	the	DET
aeasj-261	152	33	parameters	parameter	NOUN
aeasj-261	152	34	representing	represent	VERB
aeasj-261	152	35	the	the	DET
aeasj-261	152	36	output	output	NOUN
aeasj-261	152	37	elasticity	elasticity	NOUN
aeasj-261	152	38	of	of	ADP
aeasj-261	152	39	each	each	DET
aeasj-261	152	40	input	input	NOUN
aeasj-261	152	41	(	(	PUNCT
aeasj-261	152	42	labour	labour	NOUN
aeasj-261	152	43	and	and	CCONJ
aeasj-261	152	44	capital	capital	NOUN
aeasj-261	152	45	)	)	PUNCT
aeasj-261	152	46	.	.	PUNCT
aeasj-261	153	1	theoretically	theoretically	ADV
aeasj-261	153	2	,	,	PUNCT
aeasj-261	153	3	it	it	PRON
aeasj-261	153	4	is	be	AUX
aeasj-261	153	5	argued	argue	VERB
aeasj-261	153	6	that	that	SCONJ
aeasj-261	153	7	the	the	DET
aeasj-261	153	8	labour	labour	NOUN
aeasj-261	153	9	and	and	CCONJ
aeasj-261	153	10	capital	capital	NOUN
aeasj-261	153	11	are	be	AUX
aeasj-261	153	12	embodiment	embodiment	ADJ
aeasj-261	153	13	of	of	ADP
aeasj-261	153	14	several	several	ADJ
aeasj-261	153	15	other	other	ADJ
aeasj-261	153	16	inputs	input	NOUN
aeasj-261	153	17	that	that	PRON
aeasj-261	153	18	are	be	AUX
aeasj-261	153	19	also	also	ADV
aeasj-261	153	20	directly	directly	ADV
aeasj-261	153	21	influencing	influence	VERB
aeasj-261	153	22	output	output	NOUN
aeasj-261	153	23	growth	growth	NOUN
aeasj-261	153	24	even	even	ADV
aeasj-261	153	25	when	when	SCONJ
aeasj-261	153	26	the	the	DET
aeasj-261	153	27	traditional	traditional	ADJ
aeasj-261	153	28	inputs	input	NOUN
aeasj-261	153	29	are	be	AUX
aeasj-261	153	30	unchanged	unchanged	ADJ
aeasj-261	153	31	;	;	PUNCT
aeasj-261	153	32	hence	hence	ADV
aeasj-261	153	33	there	there	PRON
aeasj-261	153	34	is	be	VERB
aeasj-261	153	35	need	need	NOUN
aeasj-261	153	36	for	for	ADP
aeasj-261	153	37	simple	simple	ADJ
aeasj-261	153	38	modification	modification	NOUN
aeasj-261	153	39	of	of	ADP
aeasj-261	153	40	eqn	eqn	PROPN
aeasj-261	153	41	1	1	NUM
aeasj-261	153	42	.	.	PUNCT
aeasj-261	154	1	thus	thus	ADV
aeasj-261	154	2	,	,	PUNCT
aeasj-261	154	3	one	one	NUM
aeasj-261	154	4	of	of	ADP
aeasj-261	154	5	such	such	ADJ
aeasj-261	154	6	possible	possible	ADJ
aeasj-261	154	7	inputs	input	NOUN
aeasj-261	154	8	is	be	AUX
aeasj-261	154	9	the	the	DET
aeasj-261	154	10	financial	financial	ADJ
aeasj-261	154	11	resources	resource	NOUN
aeasj-261	154	12	committed	commit	VERB
aeasj-261	154	13	into	into	ADP
aeasj-261	154	14	production	production	NOUN
aeasj-261	154	15	process	process	NOUN
aeasj-261	154	16	.	.	PUNCT
aeasj-261	155	1	in	in	ADP
aeasj-261	155	2	line	line	NOUN
aeasj-261	155	3	with	with	ADP
aeasj-261	155	4	this	this	DET
aeasj-261	155	5	argument	argument	NOUN
aeasj-261	155	6	,	,	PUNCT
aeasj-261	155	7	capital	capital	NOUN
aeasj-261	155	8	can	can	AUX
aeasj-261	155	9	be	be	AUX
aeasj-261	155	10	decomposed	decompose	VERB
aeasj-261	155	11	into	into	ADP
aeasj-261	155	12	fixed	fix	VERB
aeasj-261	155	13	physical	physical	ADJ
aeasj-261	155	14	(	(	PUNCT
aeasj-261	155	15	kp	kp	PROPN
aeasj-261	155	16	)	)	PUNCT
aeasj-261	155	17	and	and	CCONJ
aeasj-261	155	18	,	,	PUNCT
aeasj-261	155	19	financial	financial	ADJ
aeasj-261	155	20	(	(	PUNCT
aeasj-261	155	21	kf	kf	NOUN
aeasj-261	155	22	)	)	PUNCT
aeasj-261	155	23	resources	resource	NOUN
aeasj-261	155	24	which	which	PRON
aeasj-261	155	25	are	be	AUX
aeasj-261	155	26	generated	generate	VERB
aeasj-261	155	27	from	from	ADP
aeasj-261	155	28	the	the	DET
aeasj-261	155	29	financial	financial	ADJ
aeasj-261	155	30	sector	sector	NOUN
aeasj-261	155	31	(	(	PUNCT
aeasj-261	155	32	saibu	saibu	VERB
aeasj-261	155	33	et	et	PROPN
aeasj-261	155	34	al	al	PROPN
aeasj-261	155	35	,	,	PUNCT
aeasj-261	155	36	2009	2009	NUM
aeasj-261	155	37	)	)	PUNCT
aeasj-261	155	38	.	.	PUNCT
aeasj-261	156	1	thus	thus	ADV
aeasj-261	156	2	:	:	PUNCT
aeasj-261	156	3	y	y	PROPN
aeasj-261	156	4	=	=	PUNCT
aeasj-261	156	5	alα	alα	PROPN
aeasj-261	156	6	kp	kp	PROPN
aeasj-261	156	7	θ	θ	PROPN
aeasj-261	156	8	kf	kf	PROPN
aeasj-261	156	9	φ	φ	PROPN
aeasj-261	156	10	(	(	PUNCT
aeasj-261	156	11	2	2	NUM
aeasj-261	156	12	)	)	PUNCT
aeasj-261	156	13	where	where	SCONJ
aeasj-261	156	14	α	α	X
aeasj-261	156	15	,	,	PUNCT
aeasj-261	156	16	(	(	PUNCT
aeasj-261	156	17	β=	β=	NOUN
aeasj-261	156	18	θ+φ	θ+φ	NUM
aeasj-261	156	19	)	)	PUNCT
aeasj-261	156	20	≥	≥	NOUN
aeasj-261	156	21	0	0	NUM
aeasj-261	156	22	kf	kf	NOUN
aeasj-261	156	23	is	be	AUX
aeasj-261	156	24	the	the	DET
aeasj-261	156	25	level	level	NOUN
aeasj-261	156	26	of	of	ADP
aeasj-261	156	27	financial	financial	ADJ
aeasj-261	156	28	capital	capital	NOUN
aeasj-261	156	29	utilized	utilize	VERB
aeasj-261	156	30	in	in	ADP
aeasj-261	156	31	the	the	DET
aeasj-261	156	32	production	production	NOUN
aeasj-261	156	33	process	process	NOUN
aeasj-261	156	34	,	,	PUNCT
aeasj-261	156	35	and	and	CCONJ
aeasj-261	156	36	it	it	PRON
aeasj-261	156	37	is	be	AUX
aeasj-261	156	38	an	an	DET
aeasj-261	156	39	increasing	increase	VERB
aeasj-261	156	40	function	function	NOUN
aeasj-261	156	41	designed	design	VERB
aeasj-261	156	42	to	to	PART
aeasj-261	156	43	capture	capture	VERB
aeasj-261	156	44	the	the	DET
aeasj-261	156	45	channel	channel	NOUN
aeasj-261	156	46	through	through	ADP
aeasj-261	156	47	which	which	PRON
aeasj-261	156	48	financial	financial	ADJ
aeasj-261	156	49	factors	factor	NOUN
aeasj-261	156	50	raise	raise	VERB
aeasj-261	156	51	the	the	DET
aeasj-261	156	52	rate	rate	NOUN
aeasj-261	156	53	of	of	ADP
aeasj-261	156	54	return	return	NOUN
aeasj-261	156	55	on	on	ADP
aeasj-261	156	56	investment	investment	NOUN
aeasj-261	156	57	and	and	CCONJ
aeasj-261	156	58	subsequently	subsequently	ADV
aeasj-261	156	59	output	output	VERB
aeasj-261	156	60	.	.	PUNCT
aeasj-261	157	1	the	the	DET
aeasj-261	157	2	model	model	NOUN
aeasj-261	157	3	in	in	ADP
aeasj-261	157	4	equation	equation	NOUN
aeasj-261	157	5	(	(	PUNCT
aeasj-261	157	6	2	2	X
aeasj-261	157	7	)	)	PUNCT
aeasj-261	157	8	is	be	AUX
aeasj-261	157	9	transformed	transform	VERB
aeasj-261	157	10	into	into	ADP
aeasj-261	157	11	partial	partial	ADJ
aeasj-261	157	12	log	log	NOUN
aeasj-261	157	13	linear	linear	NOUN
aeasj-261	157	14	form	form	NOUN
aeasj-261	157	15	:	:	PUNCT
aeasj-261	157	16	iny	iny	ADJ
aeasj-261	157	17	=	=	SYM
aeasj-261	157	18	ina	ina	PROPN
aeasj-261	157	19	+	+	CCONJ
aeasj-261	157	20	αl+	αl+	ADJ
aeasj-261	157	21	θinkp	θinkp	NOUN
aeasj-261	157	22	+	+	CCONJ
aeasj-261	157	23	φkf	φkf	PROPN
aeasj-261	158	1	+	+	ADJ
aeasj-261	158	2	ut	ut	PROPN
aeasj-261	158	3	(	(	PUNCT
aeasj-261	158	4	3	3	NUM
aeasj-261	158	5	)	)	PUNCT
aeasj-261	158	6	where	where	SCONJ
aeasj-261	158	7	u	u	PRON
aeasj-261	158	8	represents	represent	VERB
aeasj-261	158	9	other	other	ADJ
aeasj-261	158	10	variables	variable	NOUN
aeasj-261	158	11	that	that	PRON
aeasj-261	158	12	might	might	AUX
aeasj-261	158	13	also	also	ADV
aeasj-261	158	14	be	be	AUX
aeasj-261	158	15	impacting	impact	VERB
aeasj-261	158	16	on	on	ADP
aeasj-261	158	17	the	the	DET
aeasj-261	158	18	growth	growth	NOUN
aeasj-261	158	19	of	of	ADP
aeasj-261	158	20	output	output	NOUN
aeasj-261	158	21	.	.	PUNCT
aeasj-261	159	1	apart	apart	ADV
aeasj-261	159	2	from	from	ADP
aeasj-261	159	3	the	the	DET
aeasj-261	159	4	labour	labour	NOUN
aeasj-261	159	5	,	,	PUNCT
aeasj-261	159	6	investment	investment	NOUN
aeasj-261	159	7	and	and	CCONJ
aeasj-261	159	8	financial	financial	ADJ
aeasj-261	159	9	factors	factor	NOUN
aeasj-261	159	10	,	,	PUNCT
aeasj-261	159	11	evidences	evidence	NOUN
aeasj-261	159	12	from	from	ADP
aeasj-261	159	13	previous	previous	ADJ
aeasj-261	159	14	studies	study	NOUN
aeasj-261	159	15	revealed	reveal	VERB
aeasj-261	159	16	that	that	SCONJ
aeasj-261	159	17	many	many	ADJ
aeasj-261	159	18	other	other	ADJ
aeasj-261	159	19	factors	factor	NOUN
aeasj-261	159	20	influence	influence	VERB
aeasj-261	159	21	economic	economic	ADJ
aeasj-261	159	22	growth	growth	NOUN
aeasj-261	159	23	.	.	PUNCT
aeasj-261	160	1	saibu	saibu	VERB
aeasj-261	160	2	et	et	PROPN
aeasj-261	160	3	al	al	PROPN
aeasj-261	160	4	,	,	PUNCT
aeasj-261	160	5	(	(	PUNCT
aeasj-261	160	6	2009	2009	NUM
aeasj-261	160	7	)	)	PUNCT
aeasj-261	160	8	indentified	indentifie	VERB
aeasj-261	160	9	public	public	ADJ
aeasj-261	160	10	investment	investment	NOUN
aeasj-261	160	11	,	,	PUNCT
aeasj-261	160	12	degree	degree	NOUN
aeasj-261	160	13	of	of	ADP
aeasj-261	160	14	openness	openness	NOUN
aeasj-261	160	15	and	and	CCONJ
aeasj-261	160	16	inflation	inflation	NOUN
aeasj-261	160	17	as	as	ADP
aeasj-261	160	18	other	other	ADJ
aeasj-261	160	19	factors	factor	NOUN
aeasj-261	160	20	influencing	influence	VERB
aeasj-261	160	21	growth	growth	NOUN
aeasj-261	160	22	.	.	PUNCT
aeasj-261	161	1	the	the	DET
aeasj-261	161	2	model	model	NOUN
aeasj-261	161	3	of	of	ADP
aeasj-261	161	4	the	the	DET
aeasj-261	161	5	study	study	NOUN
aeasj-261	161	6	differs	differ	VERB
aeasj-261	161	7	from	from	ADP
aeasj-261	161	8	saibu	saibu	PROPN
aeasj-261	161	9	et	et	PROPN
aeasj-261	161	10	al	al	PROPN
aeasj-261	161	11	,	,	PUNCT
aeasj-261	161	12	(	(	PUNCT
aeasj-261	161	13	2009	2009	NUM
aeasj-261	161	14	)	)	PUNCT
aeasj-261	161	15	with	with	ADP
aeasj-261	161	16	little	little	ADJ
aeasj-261	161	17	modification	modification	NOUN
aeasj-261	161	18	in	in	ADP
aeasj-261	161	19	area	area	NOUN
aeasj-261	161	20	of	of	ADP
aeasj-261	161	21	the	the	DET
aeasj-261	161	22	determinant	determinant	ADJ
aeasj-261	161	23	variables	variable	NOUN
aeasj-261	161	24	.	.	PUNCT
aeasj-261	162	1	this	this	DET
aeasj-261	162	2	study	study	NOUN
aeasj-261	162	3	incorporated	incorporate	VERB
aeasj-261	162	4	into	into	ADP
aeasj-261	162	5	the	the	DET
aeasj-261	162	6	model	model	NOUN
aeasj-261	162	7	total	total	ADJ
aeasj-261	162	8	government	government	NOUN
aeasj-261	162	9	expenditure	expenditure	NOUN
aeasj-261	162	10	and	and	CCONJ
aeasj-261	162	11	gross	gross	ADJ
aeasj-261	162	12	fixed	fix	VERB
aeasj-261	162	13	capital	capital	NOUN
aeasj-261	162	14	formation	formation	NOUN
aeasj-261	162	15	as	as	ADP
aeasj-261	162	16	against	against	ADP
aeasj-261	162	17	public	public	ADJ
aeasj-261	162	18	investment	investment	NOUN
aeasj-261	162	19	on	on	ADP
aeasj-261	162	20	infrastructure	infrastructure	NOUN
aeasj-261	162	21	and	and	CCONJ
aeasj-261	162	22	gross	gross	ADJ
aeasj-261	162	23	private	private	ADJ
aeasj-261	162	24	investment	investment	NOUN
aeasj-261	162	25	in	in	ADP
aeasj-261	162	26	saibu	saibu	PROPN
aeasj-261	162	27	et	et	PROPN
aeasj-261	162	28	al	al	PROPN
aeasj-261	162	29	,	,	PUNCT
aeasj-261	162	30	(	(	PUNCT
aeasj-261	162	31	2009	2009	NUM
aeasj-261	162	32	)	)	PUNCT
aeasj-261	162	33	.	.	PUNCT
aeasj-261	163	1	in	in	ADP
aeasj-261	163	2	line	line	NOUN
aeasj-261	163	3	with	with	ADP
aeasj-261	163	4	the	the	DET
aeasj-261	163	5	objectives	objective	NOUN
aeasj-261	163	6	of	of	ADP
aeasj-261	163	7	the	the	DET
aeasj-261	163	8	study	study	NOUN
aeasj-261	163	9	which	which	PRON
aeasj-261	163	10	is	be	AUX
aeasj-261	163	11	investigating	investigate	VERB
aeasj-261	163	12	the	the	DET
aeasj-261	163	13	competing	compete	VERB
aeasj-261	163	14	views	view	NOUN
aeasj-261	163	15	on	on	ADP
aeasj-261	163	16	the	the	DET
aeasj-261	163	17	role	role	NOUN
aeasj-261	163	18	of	of	ADP
aeasj-261	163	19	the	the	DET
aeasj-261	163	20	financial	financial	ADJ
aeasj-261	163	21	structures	structure	NOUN
aeasj-261	163	22	(	(	PUNCT
aeasj-261	163	23	bank	bank	NOUN
aeasj-261	163	24	-	-	PUNCT
aeasj-261	163	25	based	base	VERB
aeasj-261	163	26	view	view	NOUN
aeasj-261	163	27	,	,	PUNCT
aeasj-261	163	28	market	market	NOUN
aeasj-261	163	29	-	-	PUNCT
aeasj-261	163	30	based	base	VERB
aeasj-261	163	31	view	view	NOUN
aeasj-261	163	32	,	,	PUNCT
aeasj-261	163	33	financial	financial	ADJ
aeasj-261	163	34	service	service	NOUN
aeasj-261	163	35	view	view	NOUN
aeasj-261	163	36	and	and	CCONJ
aeasj-261	163	37	the	the	DET
aeasj-261	163	38	legal	legal	ADJ
aeasj-261	163	39	system	system	NOUN
aeasj-261	163	40	service	service	NOUN
aeasj-261	163	41	view	view	NOUN
aeasj-261	163	42	)	)	PUNCT
aeasj-261	163	43	in	in	ADP
aeasj-261	163	44	promoting	promote	VERB
aeasj-261	163	45	economic	economic	ADJ
aeasj-261	163	46	growth	growth	NOUN
aeasj-261	163	47	in	in	ADP
aeasj-261	163	48	nigeria	nigeria	PROPN
aeasj-261	163	49	,	,	PUNCT
aeasj-261	163	50	equation	equation	NOUN
aeasj-261	163	51	(	(	PUNCT
aeasj-261	163	52	3	3	X
aeasj-261	163	53	)	)	PUNCT
aeasj-261	163	54	is	be	AUX
aeasj-261	163	55	modified	modify	VERB
aeasj-261	163	56	.	.	PUNCT
aeasj-261	164	1	therefore	therefore	ADV
aeasj-261	164	2	the	the	DET
aeasj-261	164	3	estimated	estimate	VERB
aeasj-261	164	4	equation	equation	NOUN
aeasj-261	164	5	is	be	AUX
aeasj-261	164	6	of	of	ADP
aeasj-261	164	7	the	the	DET
aeasj-261	164	8	form	form	NOUN
aeasj-261	164	9	:	:	PUNCT
aeasj-261	164	10	inrgdpi	inrgdpi	PROPN
aeasj-261	164	11	=	=	PROPN
aeasj-261	164	12	b0	b0	PROPN
aeasj-261	164	13	+	+	CCONJ
aeasj-261	164	14	b1glf	b1glf	PUNCT
aeasj-261	164	15	+	+	CCONJ
aeasj-261	164	16	b2inkp	b2inkp	NOUN
aeasj-261	164	17	+	+	CCONJ
aeasj-261	164	18	b3kf	b3kf	PUNCT
aeasj-261	164	19	+	+	SYM
aeasj-261	164	20	b4c	b4c	NOUN
aeasj-261	164	21	+	+	CCONJ
aeasj-261	164	22	ut	ut	PROPN
aeasj-261	164	23	(	(	PUNCT
aeasj-261	164	24	4	4	NUM
aeasj-261	164	25	)	)	PUNCT
aeasj-261	164	26	where	where	SCONJ
aeasj-261	164	27	rgdpi	rgdpi	NOUN
aeasj-261	164	28	is	be	AUX
aeasj-261	164	29	the	the	DET
aeasj-261	164	30	real	real	ADJ
aeasj-261	164	31	gross	gross	ADJ
aeasj-261	164	32	domestic	domestic	ADJ
aeasj-261	164	33	product	product	NOUN
aeasj-261	164	34	,	,	PUNCT
aeasj-261	164	35	glf	glf	PROPN
aeasj-261	164	36	is	be	AUX
aeasj-261	164	37	the	the	DET
aeasj-261	164	38	labour	labour	NOUN
aeasj-261	164	39	employed	employ	VERB
aeasj-261	164	40	,	,	PUNCT
aeasj-261	164	41	represented	represent	VERB
aeasj-261	164	42	by	by	ADP
aeasj-261	164	43	percent	percent	NOUN
aeasj-261	164	44	growth	growth	NOUN
aeasj-261	164	45	in	in	ADP
aeasj-261	164	46	labour	labour	PROPN
aeasj-261	164	47	force	force	NOUN
aeasj-261	164	48	participation(glp	participation(glp	PROPN
aeasj-261	164	49	)	)	PUNCT
aeasj-261	164	50	,	,	PUNCT
aeasj-261	164	51	kp	kp	PROPN
aeasj-261	164	52	is	be	AUX
aeasj-261	164	53	the	the	DET
aeasj-261	164	54	physical	physical	ADJ
aeasj-261	164	55	capital	capital	NOUN
aeasj-261	164	56	(	(	PUNCT
aeasj-261	164	57	captured	capture	VERB
aeasj-261	164	58	by	by	ADP
aeasj-261	164	59	log	log	NOUN
aeasj-261	164	60	gross	gross	ADJ
aeasj-261	164	61	fixed	fix	VERB
aeasj-261	164	62	capital	capital	NOUN
aeasj-261	164	63	formation	formation	NOUN
aeasj-261	164	64	as	as	ADP
aeasj-261	164	65	percent	percent	NOUN
aeasj-261	164	66	of	of	ADP
aeasj-261	164	67	gdp(di	gdp(di	NOUN
aeasj-261	164	68	)	)	PUNCT
aeasj-261	164	69	)	)	PUNCT
aeasj-261	164	70	,	,	PUNCT
aeasj-261	164	71	kf	kf	PROPN
aeasj-261	164	72	captures	capture	VERB
aeasj-261	164	73	respective	respective	ADJ
aeasj-261	164	74	financial	financial	ADJ
aeasj-261	164	75	structures	structure	NOUN
aeasj-261	164	76	or	or	CCONJ
aeasj-261	164	77	financial	financial	ADJ
aeasj-261	164	78	development	development	NOUN
aeasj-261	164	79	variables	variable	NOUN
aeasj-261	164	80	(	(	PUNCT
aeasj-261	164	81	bank	bank	NOUN
aeasj-261	164	82	sector	sector	NOUN
aeasj-261	164	83	credit	credit	NOUN
aeasj-261	164	84	to	to	ADP
aeasj-261	164	85	private	private	ADJ
aeasj-261	164	86	sector	sector	NOUN
aeasj-261	164	87	as	as	ADP
aeasj-261	164	88	a	a	DET
aeasj-261	164	89	percentage	percentage	NOUN
aeasj-261	164	90	of	of	ADP
aeasj-261	164	91	gdp(bcp_r	gdp(bcp_r	NOUN
aeasj-261	164	92	)	)	PUNCT
aeasj-261	164	93	and	and	CCONJ
aeasj-261	164	94	stock	stock	NOUN
aeasj-261	164	95	market	market	NOUN
aeasj-261	164	96	capitalization	capitalization	NOUN
aeasj-261	164	97	as	as	ADP
aeasj-261	164	98	a	a	DET
aeasj-261	164	99	percentage	percentage	NOUN
aeasj-261	164	100	of	of	ADP
aeasj-261	164	101	gdp(smc_r	gdp(smc_r	NOUN
aeasj-261	164	102	)	)	PUNCT
aeasj-261	164	103	)	)	PUNCT
aeasj-261	165	1	and	and	CCONJ
aeasj-261	165	2	,	,	PUNCT
aeasj-261	165	3	c	c	PROPN
aeasj-261	165	4	captures	capture	VERB
aeasj-261	165	5	the	the	DET
aeasj-261	165	6	control	control	NOUN
aeasj-261	165	7	variables	variable	NOUN
aeasj-261	165	8	(	(	PUNCT
aeasj-261	165	9	degree	degree	NOUN
aeasj-261	165	10	of	of	ADP
aeasj-261	165	11	openness(openn	openness(openn	PROPN
aeasj-261	165	12	)	)	PUNCT
aeasj-261	165	13	,	,	PUNCT
aeasj-261	165	14	log	log	VERB
aeasj-261	165	15	government	government	NOUN
aeasj-261	165	16	expenditure	expenditure	NOUN
aeasj-261	165	17	/	/	SYM
aeasj-261	165	18	gdp(tgex_r	gdp(tgex_r	NOUN
aeasj-261	165	19	)	)	PUNCT
aeasj-261	165	20	and	and	CCONJ
aeasj-261	165	21	inflation(inf	inflation(inf	NOUN
aeasj-261	165	22	)	)	PUNCT
aeasj-261	165	23	)	)	PUNCT
aeasj-261	165	24	.	.	PUNCT
aeasj-261	166	1	the	the	DET
aeasj-261	166	2	degree	degree	NOUN
aeasj-261	166	3	of	of	ADP
aeasj-261	166	4	openness	openness	NOUN
aeasj-261	166	5	is	be	AUX
aeasj-261	166	6	measured	measure	VERB
aeasj-261	166	7	as	as	ADP
aeasj-261	166	8	the	the	DET
aeasj-261	166	9	ratio	ratio	NOUN
aeasj-261	166	10	of	of	ADP
aeasj-261	166	11	total	total	ADJ
aeasj-261	166	12	trade	trade	NOUN
aeasj-261	166	13	to	to	ADP
aeasj-261	166	14	gdp	gdp	NOUN
aeasj-261	166	15	(	(	PUNCT
aeasj-261	166	16	foreign	foreign	ADJ
aeasj-261	166	17	trade	trade	NOUN
aeasj-261	166	18	/	/	SYM
aeasj-261	166	19	gdp	gdp	NOUN
aeasj-261	166	20	)	)	PUNCT
aeasj-261	166	21	and	and	CCONJ
aeasj-261	166	22	is	be	AUX
aeasj-261	166	23	used	use	VERB
aeasj-261	166	24	as	as	ADP
aeasj-261	166	25	the	the	DET
aeasj-261	166	26	openness	openness	NOUN
aeasj-261	166	27	of	of	ADP
aeasj-261	166	28	the	the	DET
aeasj-261	166	29	economy	economy	NOUN
aeasj-261	166	30	,	,	PUNCT
aeasj-261	166	31	government	government	NOUN
aeasj-261	166	32	expenditure	expenditure	NOUN
aeasj-261	166	33	/	/	SYM
aeasj-261	166	34	gdp	gdp	NOUN
aeasj-261	166	35	is	be	AUX
aeasj-261	166	36	government	government	NOUN
aeasj-261	166	37	expenditure	expenditure	NOUN
aeasj-261	166	38	as	as	ADP
aeasj-261	166	39	a	a	DET
aeasj-261	166	40	ratio	ratio	NOUN
aeasj-261	166	41	of	of	ADP
aeasj-261	166	42	gdp	gdp	NOUN
aeasj-261	166	43	and	and	CCONJ
aeasj-261	166	44	inflation	inflation	NOUN
aeasj-261	166	45	is	be	AUX
aeasj-261	166	46	the	the	DET
aeasj-261	166	47	log	log	NOUN
aeasj-261	166	48	difference	difference	NOUN
aeasj-261	166	49	of	of	ADP
aeasj-261	166	50	composite	composite	ADJ
aeasj-261	166	51	consumer	consumer	NOUN
aeasj-261	166	52	price	price	NOUN
aeasj-261	166	53	indices	index	NOUN
aeasj-261	166	54	.	.	PUNCT
aeasj-261	167	1	also	also	ADV
aeasj-261	167	2	,	,	PUNCT
aeasj-261	167	3	to	to	PART
aeasj-261	167	4	investigate	investigate	VERB
aeasj-261	167	5	the	the	DET
aeasj-261	167	6	overall	overall	ADJ
aeasj-261	167	7	role	role	NOUN
aeasj-261	167	8	of	of	ADP
aeasj-261	167	9	financial	financial	ADJ
aeasj-261	167	10	structure	structure	NOUN
aeasj-261	167	11	(	(	PUNCT
aeasj-261	167	12	combination	combination	NOUN
aeasj-261	167	13	of	of	ADP
aeasj-261	167	14	the	the	DET
aeasj-261	167	15	competing	compete	VERB
aeasj-261	167	16	views	view	NOUN
aeasj-261	167	17	)	)	PUNCT
aeasj-261	167	18	in	in	ADP
aeasj-261	167	19	promoting	promote	VERB
aeasj-261	167	20	economic	economic	ADJ
aeasj-261	167	21	growth	growth	NOUN
aeasj-261	167	22	in	in	ADP
aeasj-261	167	23	nigeria	nigeria	PROPN
aeasj-261	167	24	hence	hence	ADV
aeasj-261	167	25	,	,	PUNCT
aeasj-261	167	26	the	the	DET
aeasj-261	167	27	estimated	estimate	VERB
aeasj-261	167	28	equation	equation	NOUN
aeasj-261	167	29	is	be	AUX
aeasj-261	167	30	of	of	ADP
aeasj-261	167	31	the	the	DET
aeasj-261	167	32	form	form	NOUN
aeasj-261	167	33	:	:	PUNCT
aeasj-261	167	34	inrgdpi	inrgdpi	PROPN
aeasj-261	167	35	=	=	SYM
aeasj-261	167	36	b0	b0	NOUN
aeasj-261	167	37	+	+	CCONJ
aeasj-261	167	38	b1inglf	b1inglf	PROPN
aeasj-261	167	39	+	+	CCONJ
aeasj-261	167	40	b2indi	b2indi	NOUN
aeasj-261	167	41	+	+	X
aeasj-261	167	42	b3fs_r	b3fs_r	NOUN
aeasj-261	167	43	+	+	CCONJ
aeasj-261	167	44	b4inc	b4inc	PROPN
aeasj-261	168	1	+	+	CCONJ
aeasj-261	168	2	ut	ut	PROPN
aeasj-261	168	3	(	(	PUNCT
aeasj-261	168	4	5	5	NUM
aeasj-261	168	5	)	)	PUNCT
aeasj-261	168	6	the	the	DET
aeasj-261	168	7	variables	variable	NOUN
aeasj-261	168	8	definitions	definition	NOUN
aeasj-261	168	9	remain	remain	VERB
aeasj-261	168	10	the	the	DET
aeasj-261	168	11	same	same	ADJ
aeasj-261	168	12	with	with	ADP
aeasj-261	168	13	eqn	eqn	PROPN
aeasj-261	168	14	4	4	NUM
aeasj-261	168	15	except	except	SCONJ
aeasj-261	168	16	di	di	NOUN
aeasj-261	168	17	and	and	CCONJ
aeasj-261	168	18	fs_r	fs_r	PROPN
aeasj-261	168	19	.	.	PUNCT
aeasj-261	169	1	di	di	PROPN
aeasj-261	169	2	is	be	AUX
aeasj-261	169	3	the	the	DET
aeasj-261	169	4	log	log	NOUN
aeasj-261	169	5	gross	gross	ADJ
aeasj-261	169	6	fixed	fix	VERB
aeasj-261	169	7	capital	capital	NOUN
aeasj-261	169	8	formation	formation	NOUN
aeasj-261	169	9	as	as	ADP
aeasj-261	169	10	percent	percent	NOUN
aeasj-261	169	11	of	of	ADP
aeasj-261	169	12	gdp	gdp	NOUN
aeasj-261	169	13	which	which	PRON
aeasj-261	169	14	captures	capture	VERB
aeasj-261	169	15	investment	investment	NOUN
aeasj-261	169	16	.	.	PUNCT
aeasj-261	170	1	fs_r	fs_r	PROPN
aeasj-261	170	2	captures	capture	VERB
aeasj-261	170	3	the	the	DET
aeasj-261	170	4	overall	overall	ADJ
aeasj-261	170	5	financial	financial	ADJ
aeasj-261	170	6	structure	structure	NOUN
aeasj-261	170	7	.	.	PUNCT
aeasj-261	171	1	fs_r	fs_r	PROPN
aeasj-261	171	2	is	be	AUX
aeasj-261	171	3	defined	define	VERB
aeasj-261	171	4	as	as	ADP
aeasj-261	171	5	the	the	DET
aeasj-261	171	6	stock	stock	NOUN
aeasj-261	171	7	market	market	NOUN
aeasj-261	171	8	capitalization	capitalization	NOUN
aeasj-261	171	9	ratio	ratio	NOUN
aeasj-261	171	10	over	over	ADP
aeasj-261	171	11	credit	credit	NOUN
aeasj-261	171	12	to	to	ADP
aeasj-261	171	13	private	private	ADJ
aeasj-261	171	14	sector	sector	NOUN
aeasj-261	171	15	ratio	ratio	NOUN
aeasj-261	171	16	.	.	PUNCT
aeasj-261	172	1	that	that	PRON
aeasj-261	172	2	is	be	AUX
aeasj-261	172	3	,	,	PUNCT
aeasj-261	172	4	fs_r	fs_r	PROPN
aeasj-261	172	5	a	a	DET
aeasj-261	172	6	conglomerate	conglomerate	NOUN
aeasj-261	172	7	index	index	NOUN
aeasj-261	172	8	of	of	ADP
aeasj-261	172	9	stock	stock	NOUN
aeasj-261	172	10	market	market	NOUN
aeasj-261	172	11	activity	activity	NOUN
aeasj-261	172	12	and	and	CCONJ
aeasj-261	172	13	bank	bank	NOUN
aeasj-261	172	14	activity	activity	NOUN
aeasj-261	172	15	.	.	PUNCT
aeasj-261	173	1	a	a	DET
aeasj-261	173	2	significant	significant	ADJ
aeasj-261	173	3	fs_r	fs_r	PROPN
aeasj-261	173	4	implies	imply	VERB
aeasj-261	173	5	that	that	SCONJ
aeasj-261	173	6	financial	financial	ADJ
aeasj-261	173	7	structure	structure	NOUN
aeasj-261	173	8	matters	matter	VERB
aeasj-261	173	9	in	in	ADP
aeasj-261	173	10	determining	determine	VERB
aeasj-261	173	11	economic	economic	ADJ
aeasj-261	173	12	growth	growth	NOUN
aeasj-261	173	13	while	while	SCONJ
aeasj-261	173	14	an	an	DET
aeasj-261	173	15	insignificant	insignificant	NOUN
aeasj-261	173	16	of	of	ADP
aeasj-261	173	17	fs_r	fs_r	PROPN
aeasj-261	173	18	implies	imply	VERB
aeasj-261	173	19	that	that	SCONJ
aeasj-261	173	20	financial	financial	ADJ
aeasj-261	173	21	structure	structure	NOUN
aeasj-261	173	22	is	be	AUX
aeasj-261	173	23	inconsequential	inconsequential	ADJ
aeasj-261	173	24	in	in	ADP
aeasj-261	173	25	determining	determine	VERB
aeasj-261	173	26	growth	growth	NOUN
aeasj-261	173	27	.	.	PUNCT
aeasj-261	174	1	3.2.2	3.2.2	NUM
aeasj-261	174	2	method	method	NOUN
aeasj-261	174	3	of	of	ADP
aeasj-261	174	4	data	datum	NOUN
aeasj-261	174	5	analysis	analysis	NOUN
aeasj-261	174	6	as	as	SCONJ
aeasj-261	174	7	this	this	DET
aeasj-261	174	8	study	study	NOUN
aeasj-261	174	9	is	be	AUX
aeasj-261	174	10	based	base	VERB
aeasj-261	174	11	on	on	ADP
aeasj-261	174	12	time	time	NOUN
aeasj-261	174	13	series	series	PROPN
aeasj-261	174	14	data	datum	NOUN
aeasj-261	174	15	so	so	SCONJ
aeasj-261	174	16	the	the	DET
aeasj-261	174	17	first	first	ADJ
aeasj-261	174	18	step	step	NOUN
aeasj-261	174	19	is	be	AUX
aeasj-261	174	20	to	to	PART
aeasj-261	174	21	check	check	VERB
aeasj-261	174	22	whether	whether	SCONJ
aeasj-261	174	23	the	the	DET
aeasj-261	174	24	series	serie	NOUN
aeasj-261	174	25	are	be	AUX
aeasj-261	174	26	stationary	stationary	ADJ
aeasj-261	174	27	or	or	CCONJ
aeasj-261	174	28	not	not	PART
aeasj-261	174	29	.	.	PUNCT
aeasj-261	175	1	augmented	augment	VERB
aeasj-261	175	2	dickey	dickey	NOUN
aeasj-261	175	3	-	-	PUNCT
aeasj-261	175	4	fuller	full	ADJ
aeasj-261	175	5	(	(	PUNCT
aeasj-261	175	6	1979)(adf	1979)(adf	NUM
aeasj-261	175	7	)	)	PUNCT
aeasj-261	175	8	and	and	CCONJ
aeasj-261	175	9	phillips	phillip	NOUN
aeasj-261	175	10	-	-	PUNCT
aeasj-261	175	11	peron	peron	PROPN
aeasj-261	175	12	(	(	PUNCT
aeasj-261	175	13	1988)(pp	1988)(pp	NUM
aeasj-261	175	14	)	)	PUNCT
aeasj-261	175	15	tests	test	NOUN
aeasj-261	175	16	are	be	AUX
aeasj-261	175	17	used	use	VERB
aeasj-261	175	18	for	for	ADP
aeasj-261	175	19	testing	testing	NOUN
aeasj-261	175	20	stationarity	stationarity	NOUN
aeasj-261	175	21	.	.	PUNCT
aeasj-261	176	1	if	if	SCONJ
aeasj-261	176	2	the	the	DET
aeasj-261	176	3	copyright	copyright	NOUN
aeasj-261	176	4	©	©	PROPN
aeasj-261	176	5	cc	cc	PROPN
aeasj-261	176	6	-	-	PUNCT
aeasj-261	176	7	by	by	ADP
aeasj-261	176	8	-	-	PUNCT
aeasj-261	176	9	nc	nc	PROPN
aeasj-261	176	10	2019	2019	NUM
aeasj-261	176	11	,	,	PUNCT
aeasj-261	176	12	cribfb	cribfb	PROPN
aeasj-261	176	13	|	|	ADV
aeasj-261	176	14	afbr	afbr	PROPN
aeasj-261	176	15	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	176	16	american	american	PROPN
aeasj-261	176	17	economic	economic	PROPN
aeasj-261	176	18	&	&	CCONJ
aeasj-261	176	19	social	social	PROPN
aeasj-261	176	20	review	review	PROPN
aeasj-261	176	21	vol	vol	NOUN
aeasj-261	176	22	.	.	PROPN
aeasj-261	177	1	5	5	NUM
aeasj-261	177	2	,	,	PUNCT
aeasj-261	177	3	no	no	INTJ
aeasj-261	177	4	.	.	NOUN
aeasj-261	177	5	1	1	NUM
aeasj-261	177	6	;	;	PUNCT
aeasj-261	178	1	2019	2019	NUM
aeasj-261	178	2	39	39	NUM
aeasj-261	178	3	adf	adf	NOUN
aeasj-261	178	4	and	and	CCONJ
aeasj-261	178	5	phillips	phillip	NOUN
aeasj-261	178	6	–	–	PUNCT
aeasj-261	178	7	peron	peron	ADJ
aeasj-261	178	8	statistics	statistic	NOUN
aeasj-261	178	9	confirm	confirm	VERB
aeasj-261	178	10	that	that	SCONJ
aeasj-261	178	11	,	,	PUNCT
aeasj-261	178	12	there	there	PRON
aeasj-261	178	13	exist	exist	VERB
aeasj-261	178	14	or	or	CCONJ
aeasj-261	178	15	no	no	DET
aeasj-261	178	16	unit	unit	NOUN
aeasj-261	178	17	roots	root	NOUN
aeasj-261	178	18	in	in	ADP
aeasj-261	178	19	the	the	DET
aeasj-261	178	20	series	series	NOUN
aeasj-261	178	21	,	,	PUNCT
aeasj-261	178	22	next	next	ADV
aeasj-261	178	23	is	be	AUX
aeasj-261	178	24	to	to	PART
aeasj-261	178	25	verify	verify	VERB
aeasj-261	178	26	whether	whether	SCONJ
aeasj-261	178	27	long	long	ADJ
aeasj-261	178	28	run	run	NOUN
aeasj-261	178	29	relationship	relationship	NOUN
aeasj-261	178	30	exists	exist	VERB
aeasj-261	178	31	between	between	ADP
aeasj-261	178	32	financial	financial	ADJ
aeasj-261	178	33	structure	structure	NOUN
aeasj-261	178	34	and	and	CCONJ
aeasj-261	178	35	economic	economic	ADJ
aeasj-261	178	36	growth	growth	NOUN
aeasj-261	178	37	.	.	PUNCT
aeasj-261	179	1	in	in	ADP
aeasj-261	179	2	doing	do	VERB
aeasj-261	179	3	this	this	PRON
aeasj-261	179	4	,	,	PUNCT
aeasj-261	179	5	it	it	PRON
aeasj-261	179	6	is	be	AUX
aeasj-261	179	7	the	the	DET
aeasj-261	179	8	features	feature	NOUN
aeasj-261	179	9	of	of	ADP
aeasj-261	179	10	the	the	DET
aeasj-261	179	11	series	series	NOUN
aeasj-261	179	12	that	that	PRON
aeasj-261	179	13	determine	determine	VERB
aeasj-261	179	14	the	the	DET
aeasj-261	179	15	cointegration	cointegration	NOUN
aeasj-261	179	16	test	test	NOUN
aeasj-261	179	17	technique	technique	NOUN
aeasj-261	179	18	to	to	PART
aeasj-261	179	19	be	be	AUX
aeasj-261	179	20	adopted	adopt	VERB
aeasj-261	179	21	.	.	PUNCT
aeasj-261	180	1	if	if	SCONJ
aeasj-261	180	2	all	all	DET
aeasj-261	180	3	the	the	DET
aeasj-261	180	4	variables	variable	NOUN
aeasj-261	180	5	are	be	AUX
aeasj-261	180	6	stationary	stationary	ADJ
aeasj-261	180	7	at	at	ADP
aeasj-261	180	8	level	level	NOUN
aeasj-261	180	9	,	,	PUNCT
aeasj-261	180	10	the	the	DET
aeasj-261	180	11	simple	simple	ADJ
aeasj-261	180	12	regression	regression	NOUN
aeasj-261	180	13	technique	technique	NOUN
aeasj-261	180	14	is	be	AUX
aeasj-261	180	15	adopted	adopt	VERB
aeasj-261	180	16	,	,	PUNCT
aeasj-261	180	17	hence	hence	ADV
aeasj-261	180	18	no	no	DET
aeasj-261	180	19	need	need	NOUN
aeasj-261	180	20	to	to	PART
aeasj-261	180	21	test	test	VERB
aeasj-261	180	22	for	for	ADP
aeasj-261	180	23	long	long	ADJ
aeasj-261	180	24	relation	relation	NOUN
aeasj-261	180	25	of	of	ADP
aeasj-261	180	26	the	the	DET
aeasj-261	180	27	series	series	NOUN
aeasj-261	180	28	or	or	CCONJ
aeasj-261	180	29	if	if	SCONJ
aeasj-261	180	30	the	the	DET
aeasj-261	180	31	stationarity	stationarity	NOUN
aeasj-261	180	32	of	of	ADP
aeasj-261	180	33	variables	variable	NOUN
aeasj-261	180	34	are	be	AUX
aeasj-261	180	35	mixed	mixed	ADJ
aeasj-261	180	36	,	,	PUNCT
aeasj-261	180	37	i(0	i(0	PROPN
aeasj-261	180	38	)	)	PUNCT
aeasj-261	180	39	,	,	PUNCT
aeasj-261	180	40	i(1	i(1	PROPN
aeasj-261	180	41	)	)	PUNCT
aeasj-261	180	42	,	,	PUNCT
aeasj-261	180	43	the	the	DET
aeasj-261	180	44	autoregressive	autoregressive	ADJ
aeasj-261	180	45	distributed	distribute	VERB
aeasj-261	180	46	lag	lag	NOUN
aeasj-261	180	47	bound	bind	VERB
aeasj-261	180	48	technique	technique	NOUN
aeasj-261	180	49	is	be	AUX
aeasj-261	180	50	employed	employ	VERB
aeasj-261	180	51	or	or	CCONJ
aeasj-261	180	52	if	if	SCONJ
aeasj-261	180	53	all	all	DET
aeasj-261	180	54	the	the	DET
aeasj-261	180	55	series	series	NOUN
aeasj-261	180	56	are	be	AUX
aeasj-261	180	57	integrated	integrate	VERB
aeasj-261	180	58	at	at	ADP
aeasj-261	180	59	i(1	i(1	PROPN
aeasj-261	180	60	)	)	PUNCT
aeasj-261	180	61	then	then	ADV
aeasj-261	180	62	johansen	johansen	PROPN
aeasj-261	180	63	and	and	CCONJ
aeasj-261	180	64	juselius	juselius	ADJ
aeasj-261	180	65	co	co	NOUN
aeasj-261	180	66	-	-	NOUN
aeasj-261	180	67	integration	integration	NOUN
aeasj-261	180	68	technique	technique	NOUN
aeasj-261	180	69	(	(	PUNCT
aeasj-261	180	70	1991	1991	NUM
aeasj-261	180	71	)	)	PUNCT
aeasj-261	180	72	is	be	AUX
aeasj-261	180	73	adopted	adopt	VERB
aeasj-261	180	74	.	.	PUNCT
aeasj-261	181	1	also	also	ADV
aeasj-261	181	2	,	,	PUNCT
aeasj-261	181	3	the	the	DET
aeasj-261	181	4	number	number	NOUN
aeasj-261	181	5	of	of	ADP
aeasj-261	181	6	the	the	DET
aeasj-261	181	7	cointegrating	cointegrate	VERB
aeasj-261	181	8	equations	equation	NOUN
aeasj-261	181	9	determines	determine	VERB
aeasj-261	181	10	the	the	DET
aeasj-261	181	11	model	model	NOUN
aeasj-261	181	12	to	to	PART
aeasj-261	181	13	adopt	adopt	VERB
aeasj-261	181	14	.	.	PUNCT
aeasj-261	182	1	if	if	SCONJ
aeasj-261	182	2	the	the	DET
aeasj-261	182	3	number	number	NOUN
aeasj-261	182	4	of	of	ADP
aeasj-261	182	5	cointegrating	cointegrate	VERB
aeasj-261	182	6	equation	equation	NOUN
aeasj-261	182	7	is	be	AUX
aeasj-261	182	8	one	one	NUM
aeasj-261	182	9	,	,	PUNCT
aeasj-261	182	10	the	the	DET
aeasj-261	182	11	error	error	NOUN
aeasj-261	182	12	correction	correction	NOUN
aeasj-261	182	13	model	model	NOUN
aeasj-261	182	14	(	(	PUNCT
aeasj-261	182	15	ecm	ecm	PROPN
aeasj-261	182	16	)	)	PUNCT
aeasj-261	182	17	is	be	AUX
aeasj-261	182	18	employed	employ	VERB
aeasj-261	182	19	or	or	CCONJ
aeasj-261	182	20	if	if	SCONJ
aeasj-261	182	21	the	the	DET
aeasj-261	182	22	number	number	NOUN
aeasj-261	182	23	of	of	ADP
aeasj-261	182	24	cointegrating	cointegrate	VERB
aeasj-261	182	25	equation	equation	NOUN
aeasj-261	182	26	is	be	AUX
aeasj-261	182	27	more	more	ADJ
aeasj-261	182	28	than	than	ADP
aeasj-261	182	29	one	one	NUM
aeasj-261	182	30	,	,	PUNCT
aeasj-261	182	31	vector	vector	NOUN
aeasj-261	182	32	error	error	NOUN
aeasj-261	182	33	correction	correction	NOUN
aeasj-261	182	34	model	model	NOUN
aeasj-261	182	35	(	(	PUNCT
aeasj-261	182	36	vecm	vecm	NOUN
aeasj-261	182	37	)	)	PUNCT
aeasj-261	182	38	is	be	AUX
aeasj-261	182	39	employed	employ	VERB
aeasj-261	182	40	or	or	CCONJ
aeasj-261	182	41	if	if	SCONJ
aeasj-261	182	42	there	there	PRON
aeasj-261	182	43	is	be	VERB
aeasj-261	182	44	no	no	DET
aeasj-261	182	45	cointegrating	cointegrate	VERB
aeasj-261	182	46	equation	equation	NOUN
aeasj-261	182	47	,	,	PUNCT
aeasj-261	182	48	the	the	DET
aeasj-261	182	49	unrestricted	unrestricted	ADJ
aeasj-261	182	50	vector	vector	NOUN
aeasj-261	182	51	autoregressive	autoregressive	ADJ
aeasj-261	182	52	model	model	NOUN
aeasj-261	182	53	(	(	PUNCT
aeasj-261	182	54	var	var	NOUN
aeasj-261	182	55	)	)	PUNCT
aeasj-261	182	56	is	be	AUX
aeasj-261	182	57	adopted	adopt	VERB
aeasj-261	182	58	.	.	PUNCT
aeasj-261	183	1	however	however	ADV
aeasj-261	183	2	,	,	PUNCT
aeasj-261	183	3	given	give	VERB
aeasj-261	183	4	the	the	DET
aeasj-261	183	5	feature	feature	NOUN
aeasj-261	183	6	of	of	ADP
aeasj-261	183	7	the	the	DET
aeasj-261	183	8	stationarity	stationarity	NOUN
aeasj-261	183	9	of	of	ADP
aeasj-261	183	10	the	the	DET
aeasj-261	183	11	series	series	NOUN
aeasj-261	183	12	and	and	CCONJ
aeasj-261	183	13	the	the	DET
aeasj-261	183	14	order	order	NOUN
aeasj-261	183	15	of	of	ADP
aeasj-261	183	16	the	the	DET
aeasj-261	183	17	var	var	NOUN
aeasj-261	183	18	using	use	VERB
aeasj-261	183	19	akaike	akaike	ADJ
aeasj-261	183	20	’s	’s	PART
aeasj-261	183	21	information	information	NOUN
aeasj-261	183	22	criterion	criterion	NOUN
aeasj-261	183	23	,	,	PUNCT
aeasj-261	183	24	johansen	johansen	PROPN
aeasj-261	183	25	and	and	CCONJ
aeasj-261	183	26	juselius	juselius	ADJ
aeasj-261	183	27	co	co	NOUN
aeasj-261	183	28	-	-	NOUN
aeasj-261	183	29	integration	integration	NOUN
aeasj-261	183	30	technique	technique	NOUN
aeasj-261	183	31	(	(	PUNCT
aeasj-261	183	32	1991	1991	NUM
aeasj-261	183	33	)	)	PUNCT
aeasj-261	183	34	is	be	AUX
aeasj-261	183	35	adopted	adopt	VERB
aeasj-261	183	36	to	to	PART
aeasj-261	183	37	identify	identify	VERB
aeasj-261	183	38	the	the	DET
aeasj-261	183	39	long	long	ADV
aeasj-261	183	40	-	-	PUNCT
aeasj-261	183	41	run	run	VERB
aeasj-261	183	42	equilibrium	equilibrium	NOUN
aeasj-261	183	43	relationship	relationship	NOUN
aeasj-261	183	44	,	,	PUNCT
aeasj-261	183	45	if	if	SCONJ
aeasj-261	183	46	it	it	PRON
aeasj-261	183	47	exists	exist	VERB
aeasj-261	183	48	.	.	PUNCT
aeasj-261	184	1	the	the	DET
aeasj-261	184	2	presence	presence	NOUN
aeasj-261	184	3	of	of	ADP
aeasj-261	184	4	such	such	ADJ
aeasj-261	184	5	relationship	relationship	NOUN
aeasj-261	184	6	rules	rule	VERB
aeasj-261	184	7	out	out	ADP
aeasj-261	184	8	spurious	spurious	ADJ
aeasj-261	184	9	relationship	relationship	NOUN
aeasj-261	184	10	among	among	ADP
aeasj-261	184	11	the	the	DET
aeasj-261	184	12	underlying	underlie	VERB
aeasj-261	184	13	variables	variable	NOUN
aeasj-261	184	14	.	.	PUNCT
aeasj-261	185	1	having	having	AUX
aeasj-261	185	2	established	establish	VERB
aeasj-261	185	3	more	more	ADJ
aeasj-261	185	4	one	one	NUM
aeasj-261	185	5	cointegrating	cointegrate	VERB
aeasj-261	185	6	vector	vector	NOUN
aeasj-261	185	7	,	,	PUNCT
aeasj-261	185	8	the	the	DET
aeasj-261	185	9	vector	vector	NOUN
aeasj-261	185	10	error	error	NOUN
aeasj-261	185	11	correction	correction	NOUN
aeasj-261	185	12	model	model	NOUN
aeasj-261	185	13	(	(	PUNCT
aeasj-261	185	14	vecm	vecm	NOUN
aeasj-261	185	15	)	)	PUNCT
aeasj-261	185	16	model	model	NOUN
aeasj-261	185	17	is	be	AUX
aeasj-261	185	18	applied	apply	VERB
aeasj-261	185	19	to	to	PART
aeasj-261	185	20	check	check	VERB
aeasj-261	185	21	what	what	PRON
aeasj-261	185	22	happens	happen	VERB
aeasj-261	185	23	within	within	ADP
aeasj-261	185	24	the	the	DET
aeasj-261	185	25	short	short	ADJ
aeasj-261	185	26	run	run	NOUN
aeasj-261	185	27	and	and	CCONJ
aeasj-261	185	28	long	long	ADJ
aeasj-261	185	29	run	run	NOUN
aeasj-261	185	30	.	.	PUNCT
aeasj-261	186	1	also	also	ADV
aeasj-261	186	2	,	,	PUNCT
aeasj-261	186	3	to	to	PART
aeasj-261	186	4	establish	establish	VERB
aeasj-261	186	5	if	if	SCONJ
aeasj-261	186	6	there	there	PRON
aeasj-261	186	7	is	be	VERB
aeasj-261	186	8	causality	causality	NOUN
aeasj-261	186	9	between	between	ADP
aeasj-261	186	10	the	the	DET
aeasj-261	186	11	different	different	ADJ
aeasj-261	186	12	types	type	NOUN
aeasj-261	186	13	of	of	ADP
aeasj-261	186	14	financial	financial	ADJ
aeasj-261	186	15	structure	structure	NOUN
aeasj-261	186	16	(	(	PUNCT
aeasj-261	186	17	or	or	CCONJ
aeasj-261	186	18	overall	overall	ADJ
aeasj-261	186	19	structure	structure	NOUN
aeasj-261	186	20	)	)	PUNCT
aeasj-261	186	21	and	and	CCONJ
aeasj-261	186	22	economic	economic	ADJ
aeasj-261	186	23	growth	growth	NOUN
aeasj-261	186	24	,	,	PUNCT
aeasj-261	186	25	the	the	DET
aeasj-261	186	26	vector	vector	NOUN
aeasj-261	186	27	error	error	NOUN
aeasj-261	186	28	correction	correction	NOUN
aeasj-261	186	29	(	(	PUNCT
aeasj-261	186	30	vec	vec	PROPN
aeasj-261	186	31	)	)	PUNCT
aeasj-261	186	32	granger	granger	PROPN
aeasj-261	186	33	causality	causality	PROPN
aeasj-261	186	34	test	test	NOUN
aeasj-261	186	35	is	be	AUX
aeasj-261	186	36	used	use	VERB
aeasj-261	186	37	.	.	PUNCT
aeasj-261	187	1	the	the	DET
aeasj-261	187	2	vector	vector	NOUN
aeasj-261	187	3	error	error	NOUN
aeasj-261	187	4	correction	correction	NOUN
aeasj-261	187	5	(	(	PUNCT
aeasj-261	187	6	vecm	vecm	NOUN
aeasj-261	187	7	)	)	PUNCT
aeasj-261	187	8	model	model	NOUN
aeasj-261	187	9	is	be	AUX
aeasj-261	187	10	expressed	express	VERB
aeasj-261	187	11	as	as	SCONJ
aeasj-261	187	12	follows	follow	VERB
aeasj-261	187	13	:	:	PUNCT
aeasj-261	187	14	∆yt	∆yt	NOUN
aeasj-261	187	15	=	=	SYM
aeasj-261	187	16	μ	μ	PROPN
aeasj-261	187	17	+	+	PROPN
aeasj-261	187	18	γ1∆yt-1+⋯+	γ1∆yt-1+⋯+	PROPN
aeasj-261	187	19	γp-1∆yp-1	γp-1∆yp-1	PROPN
aeasj-261	187	20	+	+	CCONJ
aeasj-261	187	21	αecmt-1	αecmt-1	VERB
aeasj-261	187	22	+	+	NUM
aeasj-261	187	23	ϵt	ϵt	X
aeasj-261	187	24	(	(	PUNCT
aeasj-261	187	25	6	6	NUM
aeasj-261	187	26	)	)	PUNCT
aeasj-261	187	27	where	where	SCONJ
aeasj-261	187	28	∆	∆	PROPN
aeasj-261	187	29	is	be	AUX
aeasj-261	187	30	a	a	DET
aeasj-261	187	31	difference	difference	NOUN
aeasj-261	187	32	operator	operator	NOUN
aeasj-261	187	33	and	and	CCONJ
aeasj-261	187	34	y	y	PROPN
aeasj-261	187	35	is	be	AUX
aeasj-261	187	36	a	a	DET
aeasj-261	187	37	vector	vector	NOUN
aeasj-261	187	38	of	of	ADP
aeasj-261	187	39	i(1	i(1	PROPN
aeasj-261	187	40	)	)	PUNCT
aeasj-261	187	41	variables	variable	NOUN
aeasj-261	187	42	that	that	PRON
aeasj-261	187	43	are	be	AUX
aeasj-261	187	44	involved	involve	VERB
aeasj-261	187	45	in	in	ADP
aeasj-261	187	46	this	this	DET
aeasj-261	187	47	study	study	NOUN
aeasj-261	187	48	,	,	PUNCT
aeasj-261	187	49	ϵt	ϵt	ADV
aeasj-261	187	50	is	be	AUX
aeasj-261	187	51	a	a	DET
aeasj-261	187	52	vector	vector	NOUN
aeasj-261	187	53	of	of	ADP
aeasj-261	187	54	white	white	ADJ
aeasj-261	187	55	noise	noise	NOUN
aeasj-261	187	56	errors	error	NOUN
aeasj-261	187	57	,	,	PUNCT
aeasj-261	187	58	ecm	ecm	PROPN
aeasj-261	187	59	is	be	AUX
aeasj-261	187	60	the	the	DET
aeasj-261	187	61	residuals	residual	NOUN
aeasj-261	187	62	of	of	ADP
aeasj-261	187	63	the	the	DET
aeasj-261	187	64	long	long	ADV
aeasj-261	187	65	-	-	PUNCT
aeasj-261	187	66	run	run	NOUN
aeasj-261	187	67	model	model	NOUN
aeasj-261	187	68	lagged	lag	VERB
aeasj-261	187	69	one	one	NUM
aeasj-261	187	70	period	period	NOUN
aeasj-261	187	71	,	,	PUNCT
aeasj-261	187	72	and	and	CCONJ
aeasj-261	187	73	α	α	PRON
aeasj-261	187	74	is	be	AUX
aeasj-261	187	75	a	a	DET
aeasj-261	187	76	vector	vector	NOUN
aeasj-261	187	77	of	of	ADP
aeasj-261	187	78	adjustment	adjustment	NOUN
aeasj-261	187	79	coefficients	coefficient	NOUN
aeasj-261	187	80	.	.	PUNCT
aeasj-261	188	1	these	these	DET
aeasj-261	188	2	latter	latter	ADJ
aeasj-261	188	3	indicate	indicate	VERB
aeasj-261	188	4	the	the	DET
aeasj-261	188	5	adjustment	adjustment	NOUN
aeasj-261	188	6	to	to	ADP
aeasj-261	188	7	long	long	ADV
aeasj-261	188	8	-	-	PUNCT
aeasj-261	188	9	run	run	VERB
aeasj-261	188	10	equilibrium	equilibrium	NOUN
aeasj-261	188	11	.	.	PUNCT
aeasj-261	189	1	they	they	PRON
aeasj-261	189	2	should	should	AUX
aeasj-261	189	3	be	be	AUX
aeasj-261	189	4	statistically	statistically	ADV
aeasj-261	189	5	significant	significant	ADJ
aeasj-261	189	6	and	and	CCONJ
aeasj-261	189	7	have	have	VERB
aeasj-261	189	8	a	a	DET
aeasj-261	189	9	negative	negative	ADJ
aeasj-261	189	10	sign	sign	NOUN
aeasj-261	189	11	.	.	PUNCT
aeasj-261	190	1	the	the	DET
aeasj-261	190	2	granger	granger	PROPN
aeasj-261	190	3	causality	causality	NOUN
aeasj-261	190	4	among	among	ADP
aeasj-261	190	5	these	these	DET
aeasj-261	190	6	variables	variable	NOUN
aeasj-261	190	7	is	be	AUX
aeasj-261	190	8	tested	test	VERB
aeasj-261	190	9	through	through	ADP
aeasj-261	190	10	the	the	DET
aeasj-261	190	11	vector	vector	NOUN
aeasj-261	190	12	error	error	NOUN
aeasj-261	190	13	correction	correction	NOUN
aeasj-261	190	14	model	model	NOUN
aeasj-261	190	15	.	.	PUNCT
aeasj-261	191	1	4	4	X
aeasj-261	191	2	.	.	NOUN
aeasj-261	191	3	results	result	NOUN
aeasj-261	191	4	and	and	CCONJ
aeasj-261	191	5	discussions	discussion	NOUN
aeasj-261	191	6	4.1test	4.1test	NUM
aeasj-261	191	7	results	result	VERB
aeasj-261	191	8	4.1.1unit	4.1.1unit	ADJ
aeasj-261	191	9	roots	root	NOUN
aeasj-261	191	10	test	test	VERB
aeasj-261	191	11	the	the	DET
aeasj-261	191	12	time	time	NOUN
aeasj-261	191	13	series	series	NOUN
aeasj-261	191	14	properties	property	NOUN
aeasj-261	191	15	of	of	ADP
aeasj-261	191	16	the	the	DET
aeasj-261	191	17	data	datum	NOUN
aeasj-261	191	18	were	be	AUX
aeasj-261	191	19	evaluated	evaluate	VERB
aeasj-261	191	20	by	by	ADP
aeasj-261	191	21	using	use	VERB
aeasj-261	191	22	augmented	augment	VERB
aeasj-261	191	23	dickey	dickey	PROPN
aeasj-261	191	24	fuller	full	ADJ
aeasj-261	191	25	(	(	PUNCT
aeasj-261	191	26	adf	adf	NOUN
aeasj-261	191	27	)	)	PUNCT
aeasj-261	191	28	and	and	CCONJ
aeasj-261	191	29	phillips	phillips	PROPN
aeasj-261	191	30	-	-	PUNCT
aeasj-261	191	31	perron	perron	PROPN
aeasj-261	191	32	(	(	PUNCT
aeasj-261	191	33	pp	pp	ADJ
aeasj-261	191	34	)	)	PUNCT
aeasj-261	191	35	procedures	procedure	NOUN
aeasj-261	191	36	for	for	ADP
aeasj-261	191	37	the	the	DET
aeasj-261	191	38	presence	presence	NOUN
aeasj-261	191	39	of	of	ADP
aeasj-261	191	40	unit	unit	NOUN
aeasj-261	191	41	roots	root	NOUN
aeasj-261	191	42	.	.	PUNCT
aeasj-261	192	1	the	the	DET
aeasj-261	192	2	unit	unit	NOUN
aeasj-261	192	3	roots	root	NOUN
aeasj-261	192	4	test	test	NOUN
aeasj-261	192	5	results	result	NOUN
aeasj-261	192	6	reported	report	VERB
aeasj-261	192	7	in	in	ADP
aeasj-261	192	8	table	table	NOUN
aeasj-261	192	9	1	1	NUM
aeasj-261	192	10	show	show	VERB
aeasj-261	192	11	that	that	SCONJ
aeasj-261	192	12	the	the	DET
aeasj-261	192	13	variables	variable	NOUN
aeasj-261	192	14	are	be	AUX
aeasj-261	192	15	non	non	ADJ
aeasj-261	192	16	-	-	ADJ
aeasj-261	192	17	stationary	stationary	ADJ
aeasj-261	192	18	at	at	ADP
aeasj-261	192	19	level	level	NOUN
aeasj-261	192	20	but	but	CCONJ
aeasj-261	192	21	unequivocally	unequivocally	ADV
aeasj-261	192	22	stationary	stationary	ADJ
aeasj-261	192	23	at	at	ADP
aeasj-261	192	24	first	first	ADJ
aeasj-261	192	25	difference	difference	NOUN
aeasj-261	192	26	,	,	PUNCT
aeasj-261	192	27	implying	imply	VERB
aeasj-261	192	28	that	that	SCONJ
aeasj-261	192	29	they	they	PRON
aeasj-261	192	30	are	be	AUX
aeasj-261	192	31	i(1	i(1	NOUN
aeasj-261	192	32	)	)	PUNCT
aeasj-261	192	33	properties	property	NOUN
aeasj-261	192	34	.	.	PUNCT
aeasj-261	193	1	this	this	PRON
aeasj-261	193	2	is	be	AUX
aeasj-261	193	3	deduced	deduce	VERB
aeasj-261	193	4	from	from	ADP
aeasj-261	193	5	the	the	DET
aeasj-261	193	6	fact	fact	NOUN
aeasj-261	193	7	that	that	SCONJ
aeasj-261	193	8	the	the	DET
aeasj-261	193	9	absolute	absolute	ADJ
aeasj-261	193	10	values	value	NOUN
aeasj-261	193	11	of	of	ADP
aeasj-261	193	12	the	the	DET
aeasj-261	193	13	adf	adf	PROPN
aeasj-261	193	14	/	/	SYM
aeasj-261	193	15	pp	pp	PROPN
aeasj-261	193	16	test	test	NOUN
aeasj-261	193	17	statistics	statistic	NOUN
aeasj-261	193	18	of	of	ADP
aeasj-261	193	19	the	the	DET
aeasj-261	193	20	variables	variable	NOUN
aeasj-261	193	21	at	at	ADP
aeasj-261	193	22	levels	level	NOUN
aeasj-261	193	23	are	be	AUX
aeasj-261	193	24	less	less	ADJ
aeasj-261	193	25	than	than	ADP
aeasj-261	193	26	the	the	DET
aeasj-261	193	27	absolute	absolute	ADJ
aeasj-261	193	28	value	value	NOUN
aeasj-261	193	29	of	of	ADP
aeasj-261	193	30	the	the	DET
aeasj-261	193	31	critical	critical	ADJ
aeasj-261	193	32	values	value	NOUN
aeasj-261	193	33	of	of	ADP
aeasj-261	193	34	the	the	DET
aeasj-261	193	35	adf	adf	NOUN
aeasj-261	193	36	/	/	SYM
aeasj-261	193	37	pp	pp	ADV
aeasj-261	193	38	at	at	ADP
aeasj-261	193	39	1	1	NUM
aeasj-261	193	40	or	or	CCONJ
aeasj-261	193	41	5	5	NUM
aeasj-261	193	42	percent	percent	NOUN
aeasj-261	193	43	significance	significance	NOUN
aeasj-261	193	44	level	level	NOUN
aeasj-261	193	45	.	.	PUNCT
aeasj-261	194	1	however	however	ADV
aeasj-261	194	2	,	,	PUNCT
aeasj-261	194	3	the	the	DET
aeasj-261	194	4	reverse	reverse	NOUN
aeasj-261	194	5	is	be	AUX
aeasj-261	194	6	the	the	DET
aeasj-261	194	7	case	case	NOUN
aeasj-261	194	8	for	for	ADP
aeasj-261	194	9	the	the	DET
aeasj-261	194	10	first	first	ADJ
aeasj-261	194	11	differences	difference	NOUN
aeasj-261	194	12	of	of	ADP
aeasj-261	194	13	the	the	DET
aeasj-261	194	14	variables	variable	NOUN
aeasj-261	194	15	.	.	PUNCT
aeasj-261	195	1	table	table	NOUN
aeasj-261	195	2	1	1	NUM
aeasj-261	195	3	:	:	PUNCT
aeasj-261	195	4	adf	adf	NOUN
aeasj-261	195	5	/	/	SYM
aeasj-261	195	6	pp	pp	PROPN
aeasj-261	195	7	statistics	statistic	NOUN
aeasj-261	195	8	for	for	ADP
aeasj-261	195	9	testing	test	VERB
aeasj-261	195	10	unit	unit	NOUN
aeasj-261	195	11	roots	root	NOUN
aeasj-261	195	12	in	in	ADP
aeasj-261	195	13	the	the	DET
aeasj-261	195	14	variables	variables	PROPN
aeasj-261	195	15	variable	variable	ADJ
aeasj-261	195	16	series	series	PROPN
aeasj-261	195	17	adf	adf	PROPN
aeasj-261	195	18	-	-	PUNCT
aeasj-261	195	19	test	test	NOUN
aeasj-261	195	20	pp	pp	NOUN
aeasj-261	195	21	-	-	PUNCT
aeasj-261	195	22	test	test	NOUN
aeasj-261	195	23	at	at	ADP
aeasj-261	195	24	level	level	NOUN
aeasj-261	195	25	1st	1st	PROPN
aeasj-261	195	26	diff	diff	NOUN
aeasj-261	195	27	at	at	ADP
aeasj-261	195	28	level	level	NOUN
aeasj-261	195	29	1st	1st	NOUN
aeasj-261	195	30	diff	diff	PROPN
aeasj-261	195	31	economic	economic	ADJ
aeasj-261	195	32	growth	growth	NOUN
aeasj-261	195	33	rgdp	rgdp	NOUN
aeasj-261	195	34	0.0321	0.0321	NUM
aeasj-261	195	35	-3.3397	-3.3397	NOUN
aeasj-261	195	36	*	*	X
aeasj-261	195	37	0.8578	0.8578	NUM
aeasj-261	195	38	-3.1798	-3.1798	X
aeasj-261	195	39	*	*	PUNCT
aeasj-261	195	40	labour	labour	PROPN
aeasj-261	195	41	glf	glf	PROPN
aeasj-261	195	42	-1.8314	-1.8314	PROPN
aeasj-261	195	43	-9.4417	-9.4417	PROPN
aeasj-261	195	44	*	*	PUNCT
aeasj-261	196	1	-3.0905	-3.0905	ADJ
aeasj-261	196	2	-9.4417	-9.4417	X
aeasj-261	196	3	*	*	PUNCT
aeasj-261	196	4	investment	investment	PROPN
aeasj-261	196	5	di	di	PROPN
aeasj-261	196	6	-2.8903	-2.8903	NOUN
aeasj-261	197	1	-5.5399	-5.5399	PROPN
aeasj-261	197	2	*	*	PUNCT
aeasj-261	198	1	-2.9000	-2.9000	X
aeasj-261	198	2	-5.1218	-5.1218	NOUN
aeasj-261	198	3	*	*	PUNCT
aeasj-261	198	4	bank	bank	NOUN
aeasj-261	198	5	credit	credit	NOUN
aeasj-261	198	6	to	to	ADP
aeasj-261	198	7	private	private	ADJ
aeasj-261	198	8	sector	sector	NOUN
aeasj-261	198	9	ratio	ratio	NOUN
aeasj-261	198	10	bcp_r	bcp_r	PROPN
aeasj-261	198	11	-0.8169	-0.8169	PROPN
aeasj-261	198	12	-6.3365	-6.3365	PROPN
aeasj-261	198	13	*	*	PROPN
aeasj-261	198	14	-0.8169	-0.8169	PROPN
aeasj-261	198	15	-6.3370	-6.3370	PROPN
aeasj-261	198	16	*	*	PUNCT
aeasj-261	198	17	stock	stock	NOUN
aeasj-261	198	18	market	market	NOUN
aeasj-261	198	19	cap	cap	NOUN
aeasj-261	198	20	ratio	ratio	NOUN
aeasj-261	198	21	smc_r	smc_r	PROPN
aeasj-261	198	22	-1.7674	-1.7674	PROPN
aeasj-261	198	23	-5.8978	-5.8978	PUNCT
aeasj-261	198	24	*	*	PUNCT
aeasj-261	198	25	-1.5751	-1.5751	PROPN
aeasj-261	198	26	-9.5326	-9.5326	NOUN
aeasj-261	198	27	*	*	PUNCT
aeasj-261	198	28	inflation	inflation	NOUN
aeasj-261	198	29	rate	rate	PROPN
aeasj-261	198	30	inf	inf	PROPN
aeasj-261	198	31	-2.8593	-2.8593	PROPN
aeasj-261	198	32	-6.1392	-6.1392	PROPN
aeasj-261	198	33	*	*	PUNCT
aeasj-261	198	34	-2.7318	-2.7318	PROPN
aeasj-261	198	35	-9.3995	-9.3995	PROPN
aeasj-261	198	36	*	*	PUNCT
aeasj-261	199	1	total	total	ADJ
aeasj-261	199	2	government	government	NOUN
aeasj-261	199	3	expenditure	expenditure	NOUN
aeasj-261	199	4	tgex_r	tgex_r	NOUN
aeasj-261	199	5	-2.4359	-2.4359	VERB
aeasj-261	200	1	-8.5933	-8.5933	PROPN
aeasj-261	200	2	*	*	PUNCT
aeasj-261	200	3	-2.2520	-2.2520	NOUN
aeasj-261	200	4	-8.5247	-8.5247	PROPN
aeasj-261	200	5	*	*	PUNCT
aeasj-261	200	6	degree	degree	NOUN
aeasj-261	200	7	of	of	ADP
aeasj-261	200	8	openness	openness	NOUN
aeasj-261	200	9	openn	openn	PROPN
aeasj-261	200	10	-1.7873	-1.7873	PROPN
aeasj-261	200	11	-7.4157	-7.4157	PROPN
aeasj-261	200	12	*	*	PUNCT
aeasj-261	200	13	-1.6699	-1.6699	ADJ
aeasj-261	200	14	-7.5446	-7.5446	PROPN
aeasj-261	200	15	*	*	PUNCT
aeasj-261	200	16	financial	financial	ADJ
aeasj-261	200	17	structures	structure	NOUN
aeasj-261	200	18	fs_r	fs_r	NUM
aeasj-261	200	19	-2.6408	-2.6408	NOUN
aeasj-261	200	20	-5.8248	-5.8248	PROPN
aeasj-261	200	21	*	*	PUNCT
aeasj-261	200	22	-2.6408	-2.6408	PROPN
aeasj-261	201	1	-7.1130	-7.1130	ADJ
aeasj-261	201	2	*	*	PUNCT
aeasj-261	201	3	critical	critical	ADJ
aeasj-261	201	4	values	value	NOUN
aeasj-261	201	5	1	1	NUM
aeasj-261	201	6	%	%	NOUN
aeasj-261	201	7	-3.6268	-3.6268	NOUN
aeasj-261	201	8	-3.6329	-3.6329	PROPN
aeasj-261	201	9	-3.6268	-3.6268	NOUN
aeasj-261	201	10	-3.6329	-3.6329	VERB
aeasj-261	202	1	5	5	NUM
aeasj-261	202	2	%	%	NOUN
aeasj-261	202	3	-2.9458	-2.9458	ADJ
aeasj-261	202	4	-2.9484	-2.9484	NOUN
aeasj-261	202	5	-2.9458	-2.9458	PROPN
aeasj-261	202	6	-2.9484	-2.9484	NOUN
aeasj-261	202	7	source	source	NOUN
aeasj-261	202	8	:	:	PUNCT
aeasj-261	202	9	calculations	calculation	NOUN
aeasj-261	202	10	by	by	ADP
aeasj-261	202	11	authors	author	NOUN
aeasj-261	202	12	using	use	VERB
aeasj-261	202	13	eviews	eviews	PROPN
aeasj-261	202	14	9	9	NUM
aeasj-261	202	15	.	.	PUNCT
aeasj-261	203	1	*	*	PUNCT
aeasj-261	203	2	significant	significant	ADJ
aeasj-261	203	3	at	at	ADP
aeasj-261	203	4	1	1	NUM
aeasj-261	203	5	%	%	NOUN
aeasj-261	203	6	and	and	CCONJ
aeasj-261	203	7	5	5	NUM
aeasj-261	203	8	%	%	NOUN
aeasj-261	203	9	level	level	NOUN
aeasj-261	203	10	copyright	copyright	NOUN
aeasj-261	203	11	©	©	PROPN
aeasj-261	203	12	cc	cc	NOUN
aeasj-261	203	13	-	-	PUNCT
aeasj-261	203	14	by	by	ADP
aeasj-261	203	15	-	-	PUNCT
aeasj-261	203	16	nc	nc	PROPN
aeasj-261	203	17	2019	2019	NUM
aeasj-261	203	18	,	,	PUNCT
aeasj-261	203	19	cribfb	cribfb	PROPN
aeasj-261	203	20	|	|	ADV
aeasj-261	203	21	afbr	afbr	PROPN
aeasj-261	203	22	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	203	23	american	american	PROPN
aeasj-261	203	24	economic	economic	PROPN
aeasj-261	203	25	&	&	CCONJ
aeasj-261	203	26	social	social	PROPN
aeasj-261	203	27	review	review	PROPN
aeasj-261	203	28	vol	vol	NOUN
aeasj-261	203	29	.	.	PROPN
aeasj-261	204	1	5	5	NUM
aeasj-261	204	2	,	,	PUNCT
aeasj-261	204	3	no	no	INTJ
aeasj-261	204	4	.	.	NOUN
aeasj-261	204	5	1	1	NUM
aeasj-261	204	6	;	;	PUNCT
aeasj-261	204	7	2019	2019	NUM
aeasj-261	204	8	40	40	NUM
aeasj-261	204	9	4.1.2	4.1.2	NUM
aeasj-261	204	10	cointegration	cointegration	NOUN
aeasj-261	204	11	test	test	NOUN
aeasj-261	204	12	since	since	SCONJ
aeasj-261	204	13	all	all	DET
aeasj-261	204	14	the	the	DET
aeasj-261	204	15	variables	variable	NOUN
aeasj-261	204	16	are	be	AUX
aeasj-261	204	17	integrated	integrate	VERB
aeasj-261	204	18	of	of	ADP
aeasj-261	204	19	order	order	NOUN
aeasj-261	204	20	one	one	NUM
aeasj-261	204	21	,	,	PUNCT
aeasj-261	204	22	next	next	ADV
aeasj-261	204	23	is	be	AUX
aeasj-261	204	24	to	to	PART
aeasj-261	204	25	examine	examine	VERB
aeasj-261	204	26	the	the	DET
aeasj-261	204	27	long	long	ADJ
aeasj-261	204	28	run	run	NOUN
aeasj-261	204	29	relationship	relationship	NOUN
aeasj-261	204	30	of	of	ADP
aeasj-261	204	31	the	the	DET
aeasj-261	204	32	variables	variable	NOUN
aeasj-261	204	33	by	by	ADP
aeasj-261	204	34	using	use	VERB
aeasj-261	204	35	johansen	johansen	PROPN
aeasj-261	204	36	and	and	CCONJ
aeasj-261	204	37	juselius	juselius	ADJ
aeasj-261	204	38	co	co	NOUN
aeasj-261	204	39	-	-	NOUN
aeasj-261	204	40	integration	integration	NOUN
aeasj-261	204	41	procedure	procedure	NOUN
aeasj-261	204	42	.	.	PUNCT
aeasj-261	205	1	this	this	DET
aeasj-261	205	2	test	test	NOUN
aeasj-261	205	3	is	be	AUX
aeasj-261	205	4	carried	carry	VERB
aeasj-261	205	5	out	out	ADP
aeasj-261	205	6	by	by	ADP
aeasj-261	205	7	defining	define	VERB
aeasj-261	205	8	the	the	DET
aeasj-261	205	9	vector	vector	NOUN
aeasj-261	205	10	zt	zt	PROPN
aeasj-261	205	11	=	=	PROPN
aeasj-261	206	1	[	[	X
aeasj-261	206	2	x1	x1	PROPN
aeasj-261	206	3	t	t	PROPN
aeasj-261	206	4	,	,	PUNCT
aeasj-261	206	5	x2	x2	PROPN
aeasj-261	206	6	t	t	PROPN
aeasj-261	206	7	]	]	PUNCT
aeasj-261	206	8	as	as	ADP
aeasj-261	206	9	the	the	DET
aeasj-261	206	10	set	set	NOUN
aeasj-261	206	11	of	of	ADP
aeasj-261	206	12	all	all	DET
aeasj-261	206	13	variables	variable	NOUN
aeasj-261	206	14	in	in	ADP
aeasj-261	206	15	equation	equation	NOUN
aeasj-261	206	16	(	(	PUNCT
aeasj-261	206	17	4	4	X
aeasj-261	206	18	)	)	PUNCT
aeasj-261	206	19	wherein	wherein	SCONJ
aeasj-261	206	20	all	all	DET
aeasj-261	206	21	variables	variable	NOUN
aeasj-261	206	22	could	could	AUX
aeasj-261	206	23	potentially	potentially	ADV
aeasj-261	206	24	be	be	AUX
aeasj-261	206	25	endogenous	endogenous	ADJ
aeasj-261	206	26	.	.	PUNCT
aeasj-261	207	1	table	table	NOUN
aeasj-261	207	2	2	2	NUM
aeasj-261	207	3	:	:	PUNCT
aeasj-261	207	4	johansen	johansen	PROPN
aeasj-261	207	5	and	and	CCONJ
aeasj-261	207	6	juselius	juselius	ADJ
aeasj-261	207	7	co	co	NOUN
aeasj-261	207	8	-	-	NOUN
aeasj-261	207	9	integration	integration	NOUN
aeasj-261	207	10	tests	test	NOUN
aeasj-261	207	11	eigenvalue	eigenvalue	VERB
aeasj-261	207	12	trace	trace	NOUN
aeasj-261	207	13	statistic	statistic	ADJ
aeasj-261	207	14	critical	critical	ADJ
aeasj-261	207	15	value	value	NOUN
aeasj-261	207	16	(	(	PUNCT
aeasj-261	207	17	5	5	NUM
aeasj-261	207	18	%	%	NOUN
aeasj-261	207	19	)	)	PUNCT
aeasj-261	208	1	no	no	INTJ
aeasj-261	208	2	.	.	PUNCT
aeasj-261	209	1	of	of	ADP
aeasj-261	209	2	ce	ce	PROPN
aeasj-261	209	3	model	model	PROPN
aeasj-261	209	4	1	1	NUM
aeasj-261	209	5	:	:	PUNCT
aeasj-261	209	6	lrgdp	lrgdp	PROPN
aeasj-261	209	7	glf	glf	PROPN
aeasj-261	209	8	ldi	ldi	PROPN
aeasj-261	209	9	bcp_r	bcp_r	PROPN
aeasj-261	209	10	smc_r	smc_r	PROPN
aeasj-261	209	11	ltgex_r	ltgex_r	PROPN
aeasj-261	209	12	openn	openn	PROPN
aeasj-261	209	13	inf	inf	PROPN
aeasj-261	209	14	0.860335	0.860335	NUM
aeasj-261	210	1	235.9368	235.9368	NUM
aeasj-261	210	2	159.5297	159.5297	NUM
aeasj-261	210	3	none	none	NOUN
aeasj-261	210	4	*	*	PUNCT
aeasj-261	210	5	0.783126	0.783126	NUM
aeasj-261	210	6	167.0389	167.0389	NUM
aeasj-261	210	7	125.6154	125.6154	NUM
aeasj-261	210	8	at	at	ADP
aeasj-261	210	9	most	most	ADJ
aeasj-261	210	10	1	1	NUM
aeasj-261	210	11	*	*	PUNCT
aeasj-261	210	12	0.660958	0.660958	NUM
aeasj-261	210	13	113.5436	113.5436	NUM
aeasj-261	210	14	95.75366	95.75366	NUM
aeasj-261	210	15	at	at	ADP
aeasj-261	210	16	most	most	ADJ
aeasj-261	210	17	2	2	NUM
aeasj-261	210	18	*	*	SYM
aeasj-261	210	19	0.543581	0.543581	NUM
aeasj-261	210	20	75.68660	75.68660	NUM
aeasj-261	210	21	69.81889	69.81889	NUM
aeasj-261	210	22	at	at	ADP
aeasj-261	210	23	most	most	ADJ
aeasj-261	210	24	3	3	NUM
aeasj-261	210	25	*	*	SYM
aeasj-261	210	26	0.511029	0.511029	NUM
aeasj-261	210	27	48.23455	48.23455	NUM
aeasj-261	210	28	47.85613	47.85613	NUM
aeasj-261	210	29	at	at	ADP
aeasj-261	210	30	most	most	ADV
aeasj-261	210	31	4	4	NUM
aeasj-261	210	32	*	*	NOUN
aeasj-261	210	33	0.378007	0.378007	NUM
aeasj-261	210	34	23.19372	23.19372	NUM
aeasj-261	210	35	29.79707	29.79707	NUM
aeasj-261	210	36	at	at	ADP
aeasj-261	210	37	most	most	ADJ
aeasj-261	210	38	5	5	NUM
aeasj-261	210	39	0.144209	0.144209	NUM
aeasj-261	210	40	6.574798	6.574798	NUM
aeasj-261	210	41	15.49471	15.49471	NUM
aeasj-261	210	42	at	at	ADP
aeasj-261	210	43	most	most	ADJ
aeasj-261	210	44	6	6	NUM
aeasj-261	210	45	0.031612	0.031612	NUM
aeasj-261	210	46	1.124278	1.124278	NUM
aeasj-261	210	47	3.841466	3.841466	NUM
aeasj-261	210	48	at	at	ADP
aeasj-261	210	49	most	most	ADJ
aeasj-261	210	50	7	7	NUM
aeasj-261	210	51	*	*	PUNCT
aeasj-261	210	52	(	(	PUNCT
aeasj-261	210	53	*	*	PUNCT
aeasj-261	210	54	*	*	NOUN
aeasj-261	210	55	)	)	PUNCT
aeasj-261	210	56	denotes	denote	NOUN
aeasj-261	210	57	rejection	rejection	NOUN
aeasj-261	210	58	of	of	ADP
aeasj-261	210	59	the	the	DET
aeasj-261	210	60	hypothesis	hypothesis	NOUN
aeasj-261	210	61	at	at	ADP
aeasj-261	210	62	5%(1	5%(1	PROPN
aeasj-261	210	63	%	%	NOUN
aeasj-261	210	64	)	)	PUNCT
aeasj-261	210	65	significance	significance	NOUN
aeasj-261	210	66	level	level	NOUN
aeasj-261	210	67	.	.	PUNCT
aeasj-261	211	1	trace	trace	NOUN
aeasj-261	211	2	test	test	NOUN
aeasj-261	211	3	indicates	indicate	VERB
aeasj-261	211	4	5	5	NUM
aeasj-261	211	5	cointegrating	cointegrate	VERB
aeasj-261	211	6	eqn(s	eqn(s	PROPN
aeasj-261	211	7	)	)	PUNCT
aeasj-261	211	8	at	at	ADP
aeasj-261	211	9	the	the	DET
aeasj-261	211	10	0.05	0.05	NUM
aeasj-261	211	11	level	level	NOUN
aeasj-261	211	12	source	source	NOUN
aeasj-261	211	13	:	:	PUNCT
aeasj-261	211	14	calculations	calculation	NOUN
aeasj-261	211	15	by	by	ADP
aeasj-261	211	16	authors	author	NOUN
aeasj-261	211	17	using	use	VERB
aeasj-261	211	18	eviews	eviews	PROPN
aeasj-261	211	19	9	9	NUM
aeasj-261	211	20	.	.	PUNCT
aeasj-261	211	21	table	table	NOUN
aeasj-261	211	22	3	3	NUM
aeasj-261	211	23	:	:	PUNCT
aeasj-261	211	24	johansen	johansen	PROPN
aeasj-261	211	25	and	and	CCONJ
aeasj-261	211	26	juselius	juselius	ADJ
aeasj-261	211	27	co	co	NOUN
aeasj-261	211	28	-	-	NOUN
aeasj-261	211	29	integration	integration	NOUN
aeasj-261	211	30	tests	test	NOUN
aeasj-261	211	31	eigenvalue	eigenvalue	VERB
aeasj-261	211	32	trace	trace	NOUN
aeasj-261	211	33	statistic	statistic	ADJ
aeasj-261	211	34	critical	critical	ADJ
aeasj-261	211	35	value	value	NOUN
aeasj-261	211	36	(	(	PUNCT
aeasj-261	211	37	5	5	NUM
aeasj-261	211	38	%	%	NOUN
aeasj-261	211	39	)	)	PUNCT
aeasj-261	212	1	no	no	INTJ
aeasj-261	212	2	.	.	PUNCT
aeasj-261	213	1	of	of	ADP
aeasj-261	213	2	ce	ce	PROPN
aeasj-261	213	3	model	model	PROPN
aeasj-261	213	4	2	2	NUM
aeasj-261	213	5	:	:	PUNCT
aeasj-261	213	6	lrgdp	lrgdp	PROPN
aeasj-261	213	7	glf	glf	PROPN
aeasj-261	213	8	ldi	ldi	PROPN
aeasj-261	213	9	fs_r	fs_r	PROPN
aeasj-261	213	10	ltgex_r	ltgex_r	X
aeasj-261	213	11	openn	openn	PROPN
aeasj-261	213	12	inf	inf	PROPN
aeasj-261	213	13	0.749327	0.749327	NUM
aeasj-261	213	14	146.2738	146.2738	NUM
aeasj-261	213	15	125.6154	125.6154	NUM
aeasj-261	213	16	none	none	NOUN
aeasj-261	213	17	*	*	ADP
aeasj-261	213	18	0.556757	0.556757	NUM
aeasj-261	213	19	97.84755	97.84755	NUM
aeasj-261	213	20	95.75366	95.75366	NUM
aeasj-261	214	1	at	at	ADP
aeasj-261	214	2	most	most	ADJ
aeasj-261	214	3	1	1	NUM
aeasj-261	214	4	*	*	SYM
aeasj-261	214	5	0.516777	0.516777	NUM
aeasj-261	214	6	69.37022	69.37022	NUM
aeasj-261	214	7	69.81889	69.81889	NUM
aeasj-261	214	8	at	at	ADP
aeasj-261	214	9	most	most	ADJ
aeasj-261	214	10	2	2	NUM
aeasj-261	214	11	0.476369	0.476369	NUM
aeasj-261	214	12	43.91552	43.91552	NUM
aeasj-261	214	13	47.85613	47.85613	NUM
aeasj-261	214	14	at	at	ADP
aeasj-261	214	15	most	most	ADJ
aeasj-261	214	16	3	3	NUM
aeasj-261	214	17	0.361429	0.361429	NUM
aeasj-261	214	18	21.27165	21.27165	NUM
aeasj-261	214	19	29.79707	29.79707	NUM
aeasj-261	215	1	at	at	ADP
aeasj-261	215	2	most	most	ADJ
aeasj-261	215	3	4	4	NUM
aeasj-261	215	4	0.119897	0.119897	NUM
aeasj-261	215	5	5.573383	5.573383	NUM
aeasj-261	215	6	15.49471	15.49471	NUM
aeasj-261	215	7	at	at	ADP
aeasj-261	215	8	most	most	ADJ
aeasj-261	215	9	5	5	NUM
aeasj-261	215	10	0.031031	0.031031	NUM
aeasj-261	215	11	1.103296	1.103296	NUM
aeasj-261	215	12	3.841466	3.841466	NUM
aeasj-261	215	13	at	at	ADP
aeasj-261	215	14	most	most	ADV
aeasj-261	215	15	6	6	NUM
aeasj-261	215	16	*	*	PUNCT
aeasj-261	215	17	(	(	PUNCT
aeasj-261	215	18	*	*	PUNCT
aeasj-261	215	19	*	*	NOUN
aeasj-261	215	20	)	)	PUNCT
aeasj-261	215	21	denotes	denote	NOUN
aeasj-261	215	22	rejection	rejection	NOUN
aeasj-261	215	23	of	of	ADP
aeasj-261	215	24	the	the	DET
aeasj-261	215	25	hypothesis	hypothesis	NOUN
aeasj-261	215	26	at	at	ADP
aeasj-261	215	27	5%(1	5%(1	PROPN
aeasj-261	215	28	%	%	NOUN
aeasj-261	215	29	)	)	PUNCT
aeasj-261	215	30	significance	significance	NOUN
aeasj-261	215	31	level	level	NOUN
aeasj-261	215	32	.	.	PUNCT
aeasj-261	216	1	trace	trace	NOUN
aeasj-261	216	2	test	test	NOUN
aeasj-261	216	3	indicates	indicate	VERB
aeasj-261	216	4	2	2	NUM
aeasj-261	216	5	cointegrating	cointegrate	VERB
aeasj-261	216	6	eqn(s	eqn(s	PROPN
aeasj-261	216	7	)	)	PUNCT
aeasj-261	216	8	at	at	ADP
aeasj-261	216	9	the	the	DET
aeasj-261	216	10	0.05	0.05	NUM
aeasj-261	216	11	level	level	NOUN
aeasj-261	216	12	source	source	NOUN
aeasj-261	216	13	:	:	PUNCT
aeasj-261	216	14	calculations	calculation	NOUN
aeasj-261	216	15	by	by	ADP
aeasj-261	216	16	authors	author	NOUN
aeasj-261	216	17	using	use	VERB
aeasj-261	216	18	eviews	eviews	PROPN
aeasj-261	216	19	9	9	NUM
aeasj-261	216	20	.	.	PUNCT
aeasj-261	216	21	tables	table	NOUN
aeasj-261	216	22	2	2	NUM
aeasj-261	216	23	and	and	CCONJ
aeasj-261	216	24	3	3	NUM
aeasj-261	216	25	reveal	reveal	VERB
aeasj-261	216	26	that	that	SCONJ
aeasj-261	216	27	there	there	PRON
aeasj-261	216	28	exists	exist	VERB
aeasj-261	216	29	co	co	NOUN
aeasj-261	216	30	-	-	NOUN
aeasj-261	216	31	integration	integration	NOUN
aeasj-261	216	32	among	among	ADP
aeasj-261	216	33	the	the	DET
aeasj-261	216	34	variables	variable	NOUN
aeasj-261	216	35	.	.	PUNCT
aeasj-261	217	1	that	that	PRON
aeasj-261	217	2	is	be	AUX
aeasj-261	217	3	,	,	PUNCT
aeasj-261	217	4	there	there	PRON
aeasj-261	217	5	exist	exist	VERB
aeasj-261	217	6	a	a	DET
aeasj-261	217	7	long	long	ADJ
aeasj-261	217	8	run	run	NOUN
aeasj-261	217	9	relationship	relationship	NOUN
aeasj-261	217	10	among	among	ADP
aeasj-261	217	11	the	the	DET
aeasj-261	217	12	variables	variable	NOUN
aeasj-261	217	13	in	in	ADP
aeasj-261	217	14	tables	table	NOUN
aeasj-261	217	15	2	2	NUM
aeasj-261	217	16	and	and	CCONJ
aeasj-261	217	17	3	3	NUM
aeasj-261	217	18	.	.	PUNCT
aeasj-261	218	1	given	give	VERB
aeasj-261	218	2	the	the	DET
aeasj-261	218	3	existence	existence	NOUN
aeasj-261	218	4	of	of	ADP
aeasj-261	218	5	more	more	ADJ
aeasj-261	218	6	than	than	ADP
aeasj-261	218	7	one	one	NUM
aeasj-261	218	8	cointegrating	cointegrate	VERB
aeasj-261	218	9	vectors	vector	NOUN
aeasj-261	218	10	in	in	ADP
aeasj-261	218	11	both	both	DET
aeasj-261	218	12	models	model	NOUN
aeasj-261	218	13	,	,	PUNCT
aeasj-261	218	14	it	it	PRON
aeasj-261	218	15	is	be	AUX
aeasj-261	218	16	pertinent	pertinent	ADJ
aeasj-261	218	17	to	to	PART
aeasj-261	218	18	adopts	adopt	VERB
aeasj-261	218	19	vector	vector	NOUN
aeasj-261	218	20	error	error	NOUN
aeasj-261	218	21	correction	correction	NOUN
aeasj-261	218	22	model	model	NOUN
aeasj-261	218	23	(	(	PUNCT
aeasj-261	218	24	vecm	vecm	NOUN
aeasj-261	218	25	)	)	PUNCT
aeasj-261	218	26	for	for	ADP
aeasj-261	218	27	the	the	DET
aeasj-261	218	28	analysis	analysis	NOUN
aeasj-261	218	29	of	of	ADP
aeasj-261	218	30	the	the	DET
aeasj-261	218	31	relationship	relationship	NOUN
aeasj-261	218	32	between	between	ADP
aeasj-261	218	33	financial	financial	ADJ
aeasj-261	218	34	structure	structure	NOUN
aeasj-261	218	35	and	and	CCONJ
aeasj-261	218	36	economic	economic	ADJ
aeasj-261	218	37	growth	growth	NOUN
aeasj-261	218	38	.	.	PUNCT
aeasj-261	219	1	4.2.the	4.2.the	DET
aeasj-261	219	2	pairwise	pairwise	NOUN
aeasj-261	219	3	correlation	correlation	NOUN
aeasj-261	219	4	result	result	NOUN
aeasj-261	219	5	as	as	SCONJ
aeasj-261	219	6	lead	lead	VERB
aeasj-261	219	7	up	up	ADP
aeasj-261	219	8	to	to	ADP
aeasj-261	219	9	the	the	DET
aeasj-261	219	10	multivariate	multivariate	NOUN
aeasj-261	219	11	analysis	analysis	NOUN
aeasj-261	219	12	of	of	ADP
aeasj-261	219	13	the	the	DET
aeasj-261	219	14	model	model	NOUN
aeasj-261	219	15	,	,	PUNCT
aeasj-261	219	16	the	the	DET
aeasj-261	219	17	correlation	correlation	NOUN
aeasj-261	219	18	among	among	ADP
aeasj-261	219	19	the	the	DET
aeasj-261	219	20	underlying	underlie	VERB
aeasj-261	219	21	variables	variable	NOUN
aeasj-261	219	22	is	be	AUX
aeasj-261	219	23	examined	examine	VERB
aeasj-261	219	24	.	.	PUNCT
aeasj-261	220	1	table	table	NOUN
aeasj-261	220	2	4	4	NUM
aeasj-261	220	3	shows	show	VERB
aeasj-261	220	4	that	that	SCONJ
aeasj-261	220	5	economic	economic	ADJ
aeasj-261	220	6	growth	growth	NOUN
aeasj-261	220	7	is	be	AUX
aeasj-261	220	8	only	only	ADV
aeasj-261	220	9	positively	positively	ADV
aeasj-261	220	10	correlated	correlate	VERB
aeasj-261	220	11	with	with	ADP
aeasj-261	220	12	fs_r	fs_r	PROPN
aeasj-261	220	13	,	,	PUNCT
aeasj-261	220	14	bcp_r	bcp_r	PROPN
aeasj-261	220	15	and	and	CCONJ
aeasj-261	220	16	smc_r	smc_r	PROPN
aeasj-261	220	17	measures	measure	NOUN
aeasj-261	220	18	.	.	PUNCT
aeasj-261	221	1	this	this	PRON
aeasj-261	221	2	is	be	AUX
aeasj-261	221	3	in	in	ADP
aeasj-261	221	4	line	line	NOUN
aeasj-261	221	5	with	with	ADP
aeasj-261	221	6	the	the	DET
aeasj-261	221	7	theoretical	theoretical	ADJ
aeasj-261	221	8	underpinnings	underpinning	NOUN
aeasj-261	221	9	which	which	PRON
aeasj-261	221	10	suggest	suggest	VERB
aeasj-261	221	11	that	that	SCONJ
aeasj-261	221	12	finance	finance	NOUN
aeasj-261	221	13	promotes	promote	VERB
aeasj-261	221	14	economic	economic	ADJ
aeasj-261	221	15	growth	growth	NOUN
aeasj-261	221	16	.	.	PUNCT
aeasj-261	222	1	fs_r	fs_r	PROPN
aeasj-261	222	2	,	,	PUNCT
aeasj-261	222	3	bcp_r	bcp_r	PROPN
aeasj-261	222	4	and	and	CCONJ
aeasj-261	222	5	smc_r	smc_r	PROPN
aeasj-261	222	6	have	have	VERB
aeasj-261	222	7	correlation	correlation	NOUN
aeasj-261	222	8	coefficient	coefficient	NOUN
aeasj-261	222	9	of	of	ADP
aeasj-261	222	10	46	46	NUM
aeasj-261	222	11	%	%	NOUN
aeasj-261	222	12	,	,	PUNCT
aeasj-261	222	13	87	87	NUM
aeasj-261	222	14	%	%	NOUN
aeasj-261	222	15	and	and	CCONJ
aeasj-261	222	16	83	83	NUM
aeasj-261	222	17	%	%	NOUN
aeasj-261	222	18	respectively	respectively	ADV
aeasj-261	222	19	with	with	ADP
aeasj-261	222	20	economic	economic	ADJ
aeasj-261	222	21	growth	growth	NOUN
aeasj-261	222	22	.	.	PUNCT
aeasj-261	223	1	table	table	NOUN
aeasj-261	223	2	4	4	NUM
aeasj-261	223	3	:	:	PUNCT
aeasj-261	224	1	correlation	correlation	NOUN
aeasj-261	224	2	coefficients	coefficient	NOUN
aeasj-261	224	3	lrgdp	lrgdp	PROPN
aeasj-261	224	4	glf	glf	PROPN
aeasj-261	225	1	ldi	ldi	PROPN
aeasj-261	225	2	fs_r	fs_r	PROPN
aeasj-261	225	3	bcp_r	bcp_r	PROPN
aeasj-261	225	4	smc_r	smc_r	PROPN
aeasj-261	225	5	ltgex_r	ltgex_r	PROPN
aeasj-261	225	6	openn	openn	PROPN
aeasj-261	225	7	inf	inf	PROPN
aeasj-261	225	8	lrgdp	lrgdp	PROPN
aeasj-261	225	9	0.260	0.260	NUM
aeasj-261	225	10	-0.103	-0.103	NUM
aeasj-261	225	11	0.459	0.459	NUM
aeasj-261	225	12	0.874	0.874	NUM
aeasj-261	225	13	0.832	0.832	NUM
aeasj-261	225	14	-0.440	-0.440	NUM
aeasj-261	225	15	-0.379	-0.379	NOUN
aeasj-261	225	16	-0.337	-0.337	PUNCT
aeasj-261	225	17	glf	glf	PROPN
aeasj-261	225	18	0.260	0.260	NUM
aeasj-261	225	19	0.613	0.613	NUM
aeasj-261	225	20	-0.076	-0.076	NUM
aeasj-261	225	21	0.429	0.429	NUM
aeasj-261	225	22	0.241	0.241	NUM
aeasj-261	225	23	-0.559	-0.559	X
aeasj-261	225	24	-0.673	-0.673	PROPN
aeasj-261	225	25	-0.208	-0.208	X
aeasj-261	225	26	ldi	ldi	PROPN
aeasj-261	225	27	-0.103	-0.103	NUM
aeasj-261	225	28	0.613	0.613	NUM
aeasj-261	225	29	-0.400	-0.400	NOUN
aeasj-261	225	30	0.195	0.195	NUM
aeasj-261	225	31	-0.119	-0.119	X
aeasj-261	225	32	-0.377	-0.377	PUNCT
aeasj-261	225	33	-0.633	-0.633	PUNCT
aeasj-261	225	34	-0.074	-0.074	PUNCT
aeasj-261	225	35	fs_r	fs_r	NUM
aeasj-261	225	36	0.459	0.459	NUM
aeasj-261	225	37	-0.076	-0.076	NUM
aeasj-261	225	38	-0.400	-0.400	NUM
aeasj-261	225	39	0.117	0.117	NUM
aeasj-261	225	40	0.787	0.787	NUM
aeasj-261	225	41	-0.188	-0.188	NOUN
aeasj-261	225	42	0.244	0.244	NUM
aeasj-261	225	43	-0.270	-0.270	NUM
aeasj-261	225	44	bcp_r	bcp_r	VERB
aeasj-261	225	45	0.874	0.874	NUM
aeasj-261	225	46	0.429	0.429	NUM
aeasj-261	225	47	0.195	0.195	NUM
aeasj-261	225	48	0.117	0.117	NUM
aeasj-261	225	49	0.682	0.682	NUM
aeasj-261	225	50	-0.495	-0.495	NUM
aeasj-261	225	51	-0.683	-0.683	PUNCT
aeasj-261	225	52	-0.281	-0.281	X
aeasj-261	225	53	smc_r	smc_r	NOUN
aeasj-261	225	54	0.832	0.832	NUM
aeasj-261	225	55	0.241	0.241	NUM
aeasj-261	225	56	-0.119	-0.119	X
aeasj-261	225	57	0.787	0.787	NUM
aeasj-261	225	58	0.682	0.682	NUM
aeasj-261	225	59	-0.435	-0.435	PUNCT
aeasj-261	225	60	-0.292	-0.292	NUM
aeasj-261	225	61	-0.370	-0.370	X
aeasj-261	225	62	ltgex_r	ltgex_r	X
aeasj-261	225	63	-0.440	-0.440	PROPN
aeasj-261	226	1	-0.559	-0.559	X
aeasj-261	227	1	-0.377	-0.377	PUNCT
aeasj-261	227	2	-0.188	-0.188	X
aeasj-261	227	3	-0.495	-0.495	NUM
aeasj-261	227	4	-0.435	-0.435	PUNCT
aeasj-261	227	5	0.579	0.579	NUM
aeasj-261	227	6	0.235	0.235	NUM
aeasj-261	227	7	openess	openess	ADJ
aeasj-261	227	8	-0.379	-0.379	NOUN
aeasj-261	227	9	-0.673	-0.673	PROPN
aeasj-261	227	10	-0.633	-0.633	NUM
aeasj-261	227	11	0.244	0.244	NUM
aeasj-261	227	12	-0.683	-0.683	PUNCT
aeasj-261	227	13	-0.292	-0.292	NUM
aeasj-261	227	14	0.579	0.579	NUM
aeasj-261	227	15	0.273	0.273	NUM
aeasj-261	227	16	inf	inf	PROPN
aeasj-261	227	17	-0.337	-0.337	NOUN
aeasj-261	227	18	-0.208	-0.208	PROPN
aeasj-261	227	19	-0.074	-0.074	X
aeasj-261	227	20	-0.270	-0.270	NUM
aeasj-261	227	21	-0.281	-0.281	X
aeasj-261	227	22	-0.370	-0.370	NUM
aeasj-261	227	23	0.235	0.235	NUM
aeasj-261	227	24	0.273	0.273	NUM
aeasj-261	227	25	source	source	NOUN
aeasj-261	227	26	:	:	PUNCT
aeasj-261	227	27	calculations	calculation	NOUN
aeasj-261	227	28	by	by	ADP
aeasj-261	227	29	authors	author	NOUN
aeasj-261	227	30	using	use	VERB
aeasj-261	227	31	eviews	eviews	PROPN
aeasj-261	227	32	9	9	NUM
aeasj-261	227	33	.	.	PUNCT
aeasj-261	228	1	copyright	copyright	NOUN
aeasj-261	228	2	©	©	PROPN
aeasj-261	228	3	cc	cc	PROPN
aeasj-261	228	4	-	-	PUNCT
aeasj-261	228	5	by	by	ADP
aeasj-261	228	6	-	-	PUNCT
aeasj-261	228	7	nc	nc	PROPN
aeasj-261	228	8	2019	2019	NUM
aeasj-261	228	9	,	,	PUNCT
aeasj-261	228	10	cribfb	cribfb	PROPN
aeasj-261	228	11	|	|	ADV
aeasj-261	228	12	afbr	afbr	PROPN
aeasj-261	228	13	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	228	14	american	american	PROPN
aeasj-261	228	15	economic	economic	PROPN
aeasj-261	228	16	&	&	CCONJ
aeasj-261	228	17	social	social	PROPN
aeasj-261	228	18	review	review	PROPN
aeasj-261	228	19	vol	vol	NOUN
aeasj-261	228	20	.	.	PROPN
aeasj-261	229	1	5	5	NUM
aeasj-261	229	2	,	,	PUNCT
aeasj-261	229	3	no	no	INTJ
aeasj-261	229	4	.	.	NOUN
aeasj-261	229	5	1	1	NUM
aeasj-261	229	6	;	;	PUNCT
aeasj-261	229	7	2019	2019	NUM
aeasj-261	229	8	41	41	NUM
aeasj-261	229	9	4.3vector	4.3vector	NOUN
aeasj-261	229	10	error	error	NOUN
aeasj-261	229	11	correction	correction	NOUN
aeasj-261	229	12	model	model	NOUN
aeasj-261	229	13	(	(	PUNCT
aeasj-261	229	14	vecm	vecm	NOUN
aeasj-261	229	15	)	)	PUNCT
aeasj-261	229	16	to	to	PART
aeasj-261	229	17	analysis	analysis	VERB
aeasj-261	229	18	the	the	DET
aeasj-261	229	19	long	long	ADJ
aeasj-261	229	20	and	and	CCONJ
aeasj-261	229	21	short	short	ADJ
aeasj-261	229	22	run	run	NOUN
aeasj-261	229	23	relationship	relationship	NOUN
aeasj-261	229	24	between	between	ADP
aeasj-261	229	25	the	the	DET
aeasj-261	229	26	variables	variable	NOUN
aeasj-261	229	27	in	in	ADP
aeasj-261	229	28	the	the	DET
aeasj-261	229	29	models	model	NOUN
aeasj-261	229	30	and	and	CCONJ
aeasj-261	229	31	economic	economic	ADJ
aeasj-261	229	32	growth	growth	NOUN
aeasj-261	229	33	,	,	PUNCT
aeasj-261	229	34	the	the	DET
aeasj-261	229	35	study	study	NOUN
aeasj-261	229	36	employed	employ	VERB
aeasj-261	229	37	vecm	vecm	NOUN
aeasj-261	229	38	.	.	PUNCT
aeasj-261	230	1	the	the	DET
aeasj-261	230	2	vecm	vecm	NOUN
aeasj-261	230	3	results	result	NOUN
aeasj-261	230	4	are	be	AUX
aeasj-261	230	5	as	as	SCONJ
aeasj-261	230	6	follows	follow	VERB
aeasj-261	230	7	:	:	PUNCT
aeasj-261	230	8	4.3.1	4.3.1	NUM
aeasj-261	230	9	economic	economic	ADJ
aeasj-261	230	10	growth	growth	NOUN
aeasj-261	230	11	effects	effect	NOUN
aeasj-261	230	12	of	of	ADP
aeasj-261	230	13	financial	financial	ADJ
aeasj-261	230	14	development	development	NOUN
aeasj-261	230	15	this	this	DET
aeasj-261	230	16	sub	sub	NOUN
aeasj-261	230	17	-	-	NOUN
aeasj-261	230	18	section	section	NOUN
aeasj-261	230	19	investigates	investigate	VERB
aeasj-261	230	20	the	the	DET
aeasj-261	230	21	relative	relative	ADJ
aeasj-261	230	22	contribution	contribution	NOUN
aeasj-261	230	23	of	of	ADP
aeasj-261	230	24	both	both	DET
aeasj-261	230	25	bank	bank	NOUN
aeasj-261	230	26	and	and	CCONJ
aeasj-261	230	27	stock	stock	NOUN
aeasj-261	230	28	market	market	NOUN
aeasj-261	230	29	system	system	NOUN
aeasj-261	230	30	with	with	ADP
aeasj-261	230	31	control	control	NOUN
aeasj-261	230	32	variables	variable	NOUN
aeasj-261	230	33	in	in	ADP
aeasj-261	230	34	explaining	explain	VERB
aeasj-261	230	35	growth	growth	NOUN
aeasj-261	230	36	.	.	PUNCT
aeasj-261	231	1	table	table	NOUN
aeasj-261	231	2	5	5	NUM
aeasj-261	231	3	shows	show	VERB
aeasj-261	231	4	the	the	DET
aeasj-261	231	5	result	result	NOUN
aeasj-261	231	6	.	.	PUNCT
aeasj-261	232	1	table	table	NOUN
aeasj-261	232	2	5	5	NUM
aeasj-261	232	3	:	:	PUNCT
aeasj-261	232	4	long	long	ADJ
aeasj-261	232	5	run	run	NOUN
aeasj-261	232	6	model	model	NOUN
aeasj-261	232	7	of	of	ADP
aeasj-261	232	8	economic	economic	ADJ
aeasj-261	232	9	growth	growth	NOUN
aeasj-261	232	10	determinants	determinant	VERB
aeasj-261	232	11	variable	variable	ADJ
aeasj-261	232	12	coefficient	coefficient	NOUN
aeasj-261	232	13	standard	standard	ADJ
aeasj-261	232	14	error	error	NOUN
aeasj-261	232	15	t	t	PROPN
aeasj-261	232	16	-	-	PUNCT
aeasj-261	232	17	statistics	statistic	NOUN
aeasj-261	232	18	c	c	PROPN
aeasj-261	232	19	-15.38154	-15.38154	PUNCT
aeasj-261	232	20	glf	glf	PROPN
aeasj-261	233	1	0.022182	0.022182	NUM
aeasj-261	233	2	0.39784	0.39784	NUM
aeasj-261	233	3	0.05576	0.05576	NUM
aeasj-261	233	4	ldi	ldi	PROPN
aeasj-261	233	5	1.855416	1.855416	NUM
aeasj-261	233	6	0.15656	0.15656	NUM
aeasj-261	233	7	11.8515	11.8515	NUM
aeasj-261	233	8	*	*	NOUN
aeasj-261	233	9	bcp_r	bcp_r	PROPN
aeasj-261	233	10	-0.217988	-0.217988	NOUN
aeasj-261	233	11	0.01066	0.01066	NUM
aeasj-261	233	12	-20.4443	-20.4443	NOUN
aeasj-261	233	13	*	*	NOUN
aeasj-261	233	14	smc_r	smc_r	NOUN
aeasj-261	233	15	10.91057	10.91057	NUM
aeasj-261	233	16	0.90122	0.90122	NUM
aeasj-261	233	17	12.1065	12.1065	NUM
aeasj-261	233	18	*	*	PUNCT
aeasj-261	233	19	ltgex_r	ltgex_r	NOUN
aeasj-261	233	20	0.816945	0.816945	NUM
aeasj-261	233	21	0.11539	0.11539	NUM
aeasj-261	233	22	7.08004	7.08004	NUM
aeasj-261	233	23	*	*	NOUN
aeasj-261	233	24	openness	openness	NOUN
aeasj-261	233	25	0.745104	0.745104	NUM
aeasj-261	233	26	0.33840	0.33840	NUM
aeasj-261	233	27	2.20186	2.20186	NUM
aeasj-261	233	28	*	*	PUNCT
aeasj-261	233	29	*	*	NOUN
aeasj-261	233	30	note	note	NOUN
aeasj-261	233	31	.	.	PUNCT
aeasj-261	234	1	*	*	PUNCT
aeasj-261	234	2	(	(	PUNCT
aeasj-261	234	3	*	*	PUNCT
aeasj-261	234	4	*	*	PUNCT
aeasj-261	234	5	)	)	PUNCT
aeasj-261	234	6	indicate	indicate	VERB
aeasj-261	234	7	significance	significance	NOUN
aeasj-261	234	8	at	at	ADP
aeasj-261	234	9	1	1	NUM
aeasj-261	234	10	%	%	NOUN
aeasj-261	234	11	(	(	PUNCT
aeasj-261	234	12	5	5	NUM
aeasj-261	234	13	%	%	NOUN
aeasj-261	234	14	)	)	PUNCT
aeasj-261	234	15	source	source	NOUN
aeasj-261	234	16	:	:	PUNCT
aeasj-261	234	17	calculations	calculation	NOUN
aeasj-261	234	18	by	by	ADP
aeasj-261	234	19	authors	author	NOUN
aeasj-261	234	20	using	use	VERB
aeasj-261	234	21	eviews	eviews	PROPN
aeasj-261	234	22	9	9	NUM
aeasj-261	234	23	.	.	PUNCT
aeasj-261	235	1	the	the	DET
aeasj-261	235	2	essence	essence	NOUN
aeasj-261	235	3	of	of	ADP
aeasj-261	235	4	this	this	DET
aeasj-261	235	5	sub	sub	NOUN
aeasj-261	235	6	-	-	NOUN
aeasj-261	235	7	section	section	NOUN
aeasj-261	235	8	is	be	AUX
aeasj-261	235	9	to	to	PART
aeasj-261	235	10	examine	examine	VERB
aeasj-261	235	11	the	the	DET
aeasj-261	235	12	significance	significance	NOUN
aeasj-261	235	13	of	of	ADP
aeasj-261	235	14	bank	bank	NOUN
aeasj-261	235	15	and	and	CCONJ
aeasj-261	235	16	stock	stock	NOUN
aeasj-261	235	17	market	market	NOUN
aeasj-261	235	18	activity	activity	NOUN
aeasj-261	235	19	on	on	ADP
aeasj-261	235	20	economic	economic	ADJ
aeasj-261	235	21	growth	growth	NOUN
aeasj-261	235	22	and	and	CCONJ
aeasj-261	235	23	,	,	PUNCT
aeasj-261	235	24	whether	whether	SCONJ
aeasj-261	235	25	both	both	PRON
aeasj-261	235	26	are	be	AUX
aeasj-261	235	27	substitute	substitute	ADJ
aeasj-261	235	28	or	or	CCONJ
aeasj-261	235	29	complement	complement	VERB
aeasj-261	235	30	in	in	ADP
aeasj-261	235	31	the	the	DET
aeasj-261	235	32	long	long	ADJ
aeasj-261	235	33	run	run	NOUN
aeasj-261	235	34	.	.	PUNCT
aeasj-261	236	1	table	table	NOUN
aeasj-261	236	2	4	4	NUM
aeasj-261	236	3	shows	show	VERB
aeasj-261	236	4	that	that	SCONJ
aeasj-261	236	5	bank	bank	NOUN
aeasj-261	236	6	activity	activity	NOUN
aeasj-261	236	7	has	have	VERB
aeasj-261	236	8	a	a	DET
aeasj-261	236	9	negative	negative	ADJ
aeasj-261	236	10	effect	effect	NOUN
aeasj-261	236	11	on	on	ADP
aeasj-261	236	12	economic	economic	ADJ
aeasj-261	236	13	growth	growth	NOUN
aeasj-261	236	14	while	while	SCONJ
aeasj-261	236	15	the	the	DET
aeasj-261	236	16	stock	stock	NOUN
aeasj-261	236	17	market	market	NOUN
aeasj-261	236	18	activity	activity	NOUN
aeasj-261	236	19	has	have	VERB
aeasj-261	236	20	a	a	DET
aeasj-261	236	21	positive	positive	ADJ
aeasj-261	236	22	effect	effect	NOUN
aeasj-261	236	23	on	on	ADP
aeasj-261	236	24	economic	economic	ADJ
aeasj-261	236	25	growth	growth	NOUN
aeasj-261	236	26	.	.	PUNCT
aeasj-261	237	1	the	the	DET
aeasj-261	237	2	implications	implication	NOUN
aeasj-261	237	3	of	of	ADP
aeasj-261	237	4	the	the	DET
aeasj-261	237	5	signs	sign	NOUN
aeasj-261	237	6	of	of	ADP
aeasj-261	237	7	the	the	DET
aeasj-261	237	8	financial	financial	ADJ
aeasj-261	237	9	development	development	NOUN
aeasj-261	237	10	variables	variable	NOUN
aeasj-261	237	11	are	be	AUX
aeasj-261	237	12	x	x	NOUN
aeasj-261	237	13	-	-	VERB
aeasj-261	237	14	rayed	rayed	ADJ
aeasj-261	237	15	below	below	ADV
aeasj-261	237	16	.	.	PUNCT
aeasj-261	238	1	from	from	ADP
aeasj-261	238	2	table	table	NOUN
aeasj-261	238	3	5	5	NUM
aeasj-261	238	4	,	,	PUNCT
aeasj-261	238	5	the	the	DET
aeasj-261	238	6	bank	bank	NOUN
aeasj-261	238	7	activity	activity	NOUN
aeasj-261	238	8	has	have	VERB
aeasj-261	238	9	a	a	DET
aeasj-261	238	10	negative	negative	ADJ
aeasj-261	238	11	effect	effect	NOUN
aeasj-261	238	12	on	on	ADP
aeasj-261	238	13	economic	economic	ADJ
aeasj-261	238	14	growth	growth	NOUN
aeasj-261	238	15	in	in	ADP
aeasj-261	238	16	the	the	DET
aeasj-261	238	17	long	long	ADJ
aeasj-261	238	18	run	run	NOUN
aeasj-261	238	19	.	.	PUNCT
aeasj-261	239	1	this	this	DET
aeasj-261	239	2	result	result	NOUN
aeasj-261	239	3	is	be	AUX
aeasj-261	239	4	inconsistent	inconsistent	ADJ
aeasj-261	239	5	with	with	ADP
aeasj-261	239	6	the	the	DET
aeasj-261	239	7	bank	bank	NOUN
aeasj-261	239	8	-	-	PUNCT
aeasj-261	239	9	based	base	VERB
aeasj-261	239	10	financial	financial	ADJ
aeasj-261	239	11	structure	structure	NOUN
aeasj-261	239	12	theory	theory	NOUN
aeasj-261	239	13	which	which	PRON
aeasj-261	239	14	posits	posit	VERB
aeasj-261	239	15	that	that	SCONJ
aeasj-261	239	16	the	the	DET
aeasj-261	239	17	unique	unique	ADJ
aeasj-261	239	18	role	role	NOUN
aeasj-261	239	19	of	of	ADP
aeasj-261	239	20	banks	bank	NOUN
aeasj-261	239	21	in	in	ADP
aeasj-261	239	22	identifying	identify	VERB
aeasj-261	239	23	good	good	ADJ
aeasj-261	239	24	projects	project	NOUN
aeasj-261	239	25	,	,	PUNCT
aeasj-261	239	26	mobilizing	mobilize	VERB
aeasj-261	239	27	resources	resource	NOUN
aeasj-261	239	28	,	,	PUNCT
aeasj-261	239	29	monitoring	monitor	VERB
aeasj-261	239	30	managers	manager	NOUN
aeasj-261	239	31	and	and	CCONJ
aeasj-261	239	32	managing	manage	VERB
aeasj-261	239	33	risks	risk	NOUN
aeasj-261	239	34	promotes	promote	VERB
aeasj-261	239	35	economic	economic	ADJ
aeasj-261	239	36	growth	growth	NOUN
aeasj-261	239	37	.	.	PUNCT
aeasj-261	240	1	the	the	DET
aeasj-261	240	2	result	result	NOUN
aeasj-261	240	3	is	be	AUX
aeasj-261	240	4	consistent	consistent	ADJ
aeasj-261	240	5	with	with	ADP
aeasj-261	240	6	ayadi	ayadi	NOUN
aeasj-261	240	7	et	et	PROPN
aeasj-261	240	8	al	al	PROPN
aeasj-261	240	9	.	.	PROPN
aeasj-261	241	1	(	(	PUNCT
aeasj-261	241	2	2013	2013	NUM
aeasj-261	241	3	)	)	PUNCT
aeasj-261	241	4	who	who	PRON
aeasj-261	241	5	also	also	ADV
aeasj-261	241	6	found	find	VERB
aeasj-261	241	7	a	a	DET
aeasj-261	241	8	negative	negative	ADJ
aeasj-261	241	9	relationship	relationship	NOUN
aeasj-261	241	10	between	between	ADP
aeasj-261	241	11	bank	bank	NOUN
aeasj-261	241	12	sector	sector	NOUN
aeasj-261	241	13	and	and	CCONJ
aeasj-261	241	14	growth	growth	NOUN
aeasj-261	241	15	and	and	CCONJ
aeasj-261	241	16	,	,	PUNCT
aeasj-261	241	17	attributed	attribute	VERB
aeasj-261	241	18	it	it	PRON
aeasj-261	241	19	to	to	ADP
aeasj-261	241	20	deficiencies	deficiency	NOUN
aeasj-261	241	21	in	in	ADP
aeasj-261	241	22	credit	credit	NOUN
aeasj-261	241	23	allocation	allocation	NOUN
aeasj-261	241	24	in	in	ADP
aeasj-261	241	25	the	the	DET
aeasj-261	241	26	economy	economy	NOUN
aeasj-261	241	27	.	.	PUNCT
aeasj-261	242	1	the	the	DET
aeasj-261	242	2	negative	negative	ADJ
aeasj-261	242	3	relationship	relationship	NOUN
aeasj-261	242	4	does	do	AUX
aeasj-261	242	5	not	not	PART
aeasj-261	242	6	mean	mean	VERB
aeasj-261	242	7	that	that	SCONJ
aeasj-261	242	8	the	the	DET
aeasj-261	242	9	banking	banking	NOUN
aeasj-261	242	10	sector	sector	NOUN
aeasj-261	242	11	is	be	AUX
aeasj-261	242	12	underdeveloped	underdeveloped	ADJ
aeasj-261	242	13	rather	rather	ADV
aeasj-261	242	14	it	it	PRON
aeasj-261	242	15	could	could	AUX
aeasj-261	242	16	be	be	AUX
aeasj-261	242	17	explained	explain	VERB
aeasj-261	242	18	by	by	ADP
aeasj-261	242	19	credit	credit	NOUN
aeasj-261	242	20	allocation	allocation	NOUN
aeasj-261	242	21	problem	problem	NOUN
aeasj-261	242	22	in	in	ADP
aeasj-261	242	23	nigeria	nigeria	PROPN
aeasj-261	242	24	.	.	PUNCT
aeasj-261	243	1	most	most	ADJ
aeasj-261	243	2	borrowings	borrowing	NOUN
aeasj-261	243	3	in	in	ADP
aeasj-261	243	4	nigeria	nigeria	PROPN
aeasj-261	243	5	are	be	AUX
aeasj-261	243	6	not	not	PART
aeasj-261	243	7	channelled	channel	VERB
aeasj-261	243	8	to	to	ADP
aeasj-261	243	9	productive	productive	ADJ
aeasj-261	243	10	ventures	venture	NOUN
aeasj-261	243	11	but	but	CCONJ
aeasj-261	243	12	rather	rather	ADV
aeasj-261	243	13	for	for	ADP
aeasj-261	243	14	consumption	consumption	NOUN
aeasj-261	243	15	spending	spending	NOUN
aeasj-261	243	16	which	which	PRON
aeasj-261	243	17	does	do	AUX
aeasj-261	243	18	not	not	PART
aeasj-261	243	19	promote	promote	VERB
aeasj-261	243	20	economic	economic	ADJ
aeasj-261	243	21	growth	growth	NOUN
aeasj-261	243	22	in	in	ADP
aeasj-261	243	23	the	the	DET
aeasj-261	243	24	long	long	ADJ
aeasj-261	243	25	run	run	NOUN
aeasj-261	243	26	.	.	PUNCT
aeasj-261	244	1	also	also	ADV
aeasj-261	244	2	,	,	PUNCT
aeasj-261	244	3	most	most	ADJ
aeasj-261	244	4	banks	bank	NOUN
aeasj-261	244	5	are	be	AUX
aeasj-261	244	6	engaging	engage	VERB
aeasj-261	244	7	less	less	ADV
aeasj-261	244	8	in	in	ADP
aeasj-261	244	9	financial	financial	ADJ
aeasj-261	244	10	intermediation	intermediation	NOUN
aeasj-261	244	11	activities	activity	NOUN
aeasj-261	244	12	.	.	PUNCT
aeasj-261	245	1	for	for	ADP
aeasj-261	245	2	instances	instance	NOUN
aeasj-261	245	3	,	,	PUNCT
aeasj-261	245	4	some	some	PRON
aeasj-261	245	5	have	have	AUX
aeasj-261	245	6	become	become	VERB
aeasj-261	245	7	selling	sell	VERB
aeasj-261	245	8	agencies	agency	NOUN
aeasj-261	245	9	,	,	PUNCT
aeasj-261	245	10	revenue	revenue	NOUN
aeasj-261	245	11	collectors	collector	NOUN
aeasj-261	245	12	and	and	CCONJ
aeasj-261	245	13	they	they	PRON
aeasj-261	245	14	are	be	AUX
aeasj-261	245	15	now	now	ADV
aeasj-261	245	16	facilitators	facilitator	NOUN
aeasj-261	245	17	of	of	ADP
aeasj-261	245	18	black	black	ADJ
aeasj-261	245	19	market	market	NOUN
aeasj-261	245	20	forex	forex	ADJ
aeasj-261	245	21	dealing	dealing	NOUN
aeasj-261	245	22	.	.	PUNCT
aeasj-261	246	1	hence	hence	ADV
aeasj-261	246	2	,	,	PUNCT
aeasj-261	246	3	bank	bank	NOUN
aeasj-261	246	4	engages	engage	VERB
aeasj-261	246	5	more	more	ADV
aeasj-261	246	6	in	in	ADP
aeasj-261	246	7	non	non	ADJ
aeasj-261	246	8	-	-	ADJ
aeasj-261	246	9	financial	financial	ADJ
aeasj-261	246	10	intermediation	intermediation	NOUN
aeasj-261	246	11	and	and	CCONJ
aeasj-261	246	12	unproductive	unproductive	ADJ
aeasj-261	246	13	activities	activity	NOUN
aeasj-261	246	14	than	than	ADP
aeasj-261	246	15	their	their	PRON
aeasj-261	246	16	traditional	traditional	ADJ
aeasj-261	246	17	banking	banking	NOUN
aeasj-261	246	18	function	function	NOUN
aeasj-261	246	19	of	of	ADP
aeasj-261	246	20	intermediating	intermediate	VERB
aeasj-261	246	21	fund	fund	NOUN
aeasj-261	246	22	from	from	ADP
aeasj-261	246	23	the	the	DET
aeasj-261	246	24	surplus	surplus	ADJ
aeasj-261	246	25	sector	sector	NOUN
aeasj-261	246	26	to	to	ADP
aeasj-261	246	27	deficit	deficit	NOUN
aeasj-261	246	28	sector	sector	NOUN
aeasj-261	246	29	.	.	PUNCT
aeasj-261	247	1	therefore	therefore	ADV
aeasj-261	247	2	,	,	PUNCT
aeasj-261	247	3	the	the	DET
aeasj-261	247	4	bank	bank	NOUN
aeasj-261	247	5	activities	activity	NOUN
aeasj-261	247	6	in	in	ADP
aeasj-261	247	7	relation	relation	NOUN
aeasj-261	247	8	to	to	ADP
aeasj-261	247	9	economic	economic	ADJ
aeasj-261	247	10	performance	performance	NOUN
aeasj-261	247	11	have	have	VERB
aeasj-261	247	12	negative	negative	ADJ
aeasj-261	247	13	effect	effect	NOUN
aeasj-261	247	14	.	.	PUNCT
aeasj-261	248	1	table	table	NOUN
aeasj-261	248	2	5	5	NUM
aeasj-261	248	3	reveals	reveal	VERB
aeasj-261	248	4	that	that	SCONJ
aeasj-261	248	5	the	the	DET
aeasj-261	248	6	stock	stock	NOUN
aeasj-261	248	7	market	market	NOUN
aeasj-261	248	8	activity	activity	NOUN
aeasj-261	248	9	has	have	VERB
aeasj-261	248	10	a	a	DET
aeasj-261	248	11	positive	positive	ADJ
aeasj-261	248	12	effect	effect	NOUN
aeasj-261	248	13	on	on	ADP
aeasj-261	248	14	economic	economic	ADJ
aeasj-261	248	15	growth	growth	NOUN
aeasj-261	248	16	in	in	ADP
aeasj-261	248	17	the	the	DET
aeasj-261	248	18	long	long	ADJ
aeasj-261	248	19	run	run	NOUN
aeasj-261	248	20	.	.	PUNCT
aeasj-261	249	1	this	this	PRON
aeasj-261	249	2	is	be	AUX
aeasj-261	249	3	consistent	consistent	ADJ
aeasj-261	249	4	with	with	ADP
aeasj-261	249	5	market	market	NOUN
aeasj-261	249	6	based	base	VERB
aeasj-261	249	7	theory	theory	NOUN
aeasj-261	249	8	which	which	PRON
aeasj-261	249	9	opines	opine	VERB
aeasj-261	249	10	that	that	SCONJ
aeasj-261	249	11	big	big	ADJ
aeasj-261	249	12	,	,	PUNCT
aeasj-261	249	13	liquid	liquid	ADJ
aeasj-261	249	14	and	and	CCONJ
aeasj-261	249	15	well	well	ADV
aeasj-261	249	16	-	-	PUNCT
aeasj-261	249	17	developed	develop	VERB
aeasj-261	249	18	markets	market	NOUN
aeasj-261	249	19	foster	foster	ADJ
aeasj-261	249	20	growth	growth	NOUN
aeasj-261	249	21	and	and	CCONJ
aeasj-261	249	22	profit	profit	NOUN
aeasj-261	249	23	incentives	incentive	NOUN
aeasj-261	249	24	;	;	PUNCT
aeasj-261	249	25	enhance	enhance	VERB
aeasj-261	249	26	corporate	corporate	ADJ
aeasj-261	249	27	governance	governance	NOUN
aeasj-261	249	28	and	and	CCONJ
aeasj-261	249	29	,	,	PUNCT
aeasj-261	249	30	facilitate	facilitate	VERB
aeasj-261	249	31	risk	risk	NOUN
aeasj-261	249	32	management	management	NOUN
aeasj-261	249	33	(	(	PUNCT
aeasj-261	249	34	levine	levine	PROPN
aeasj-261	249	35	,	,	PUNCT
aeasj-261	249	36	2002	2002	NUM
aeasj-261	249	37	,	,	PUNCT
aeasj-261	249	38	and	and	CCONJ
aeasj-261	249	39	,	,	PUNCT
aeasj-261	249	40	beck	beck	PROPN
aeasj-261	249	41	and	and	CCONJ
aeasj-261	249	42	levine	levine	PROPN
aeasj-261	249	43	,	,	PUNCT
aeasj-261	249	44	2002	2002	NUM
aeasj-261	249	45	)	)	PUNCT
aeasj-261	249	46	.	.	PUNCT
aeasj-261	250	1	the	the	DET
aeasj-261	250	2	inefficiencies	inefficiency	NOUN
aeasj-261	250	3	that	that	PRON
aeasj-261	250	4	are	be	AUX
aeasj-261	250	5	inherent	inherent	ADJ
aeasj-261	250	6	in	in	ADP
aeasj-261	250	7	bankbased	bankbase	VERB
aeasj-261	250	8	system	system	NOUN
aeasj-261	250	9	as	as	SCONJ
aeasj-261	250	10	stressed	stress	VERB
aeasj-261	250	11	by	by	ADP
aeasj-261	250	12	(	(	PUNCT
aeasj-261	250	13	levine	levine	PROPN
aeasj-261	250	14	,	,	PUNCT
aeasj-261	250	15	2002	2002	NUM
aeasj-261	250	16	)	)	PUNCT
aeasj-261	250	17	are	be	AUX
aeasj-261	250	18	being	be	AUX
aeasj-261	250	19	reduced	reduce	VERB
aeasj-261	250	20	by	by	ADP
aeasj-261	250	21	market	market	NOUN
aeasj-261	250	22	-	-	PUNCT
aeasj-261	250	23	based	base	VERB
aeasj-261	250	24	financial	financial	ADJ
aeasj-261	250	25	systems	system	NOUN
aeasj-261	250	26	.	.	PUNCT
aeasj-261	251	1	it	it	PRON
aeasj-261	251	2	is	be	AUX
aeasj-261	251	3	argued	argue	VERB
aeasj-261	251	4	that	that	SCONJ
aeasj-261	251	5	there	there	PRON
aeasj-261	251	6	is	be	VERB
aeasj-261	251	7	an	an	DET
aeasj-261	251	8	inverse	inverse	NOUN
aeasj-261	251	9	relationship	relationship	NOUN
aeasj-261	251	10	between	between	ADP
aeasj-261	251	11	stock	stock	NOUN
aeasj-261	251	12	(	(	PUNCT
aeasj-261	251	13	bond	bond	NOUN
aeasj-261	251	14	)	)	PUNCT
aeasj-261	251	15	price	price	NOUN
aeasj-261	251	16	and	and	CCONJ
aeasj-261	251	17	the	the	DET
aeasj-261	251	18	interest	interest	NOUN
aeasj-261	251	19	rate	rate	NOUN
aeasj-261	251	20	.	.	PUNCT
aeasj-261	252	1	if	if	SCONJ
aeasj-261	252	2	the	the	DET
aeasj-261	252	3	bank	bank	NOUN
aeasj-261	252	4	interest	interest	NOUN
aeasj-261	252	5	rate	rate	NOUN
aeasj-261	252	6	is	be	AUX
aeasj-261	252	7	high	high	ADJ
aeasj-261	252	8	,	,	PUNCT
aeasj-261	252	9	then	then	ADV
aeasj-261	252	10	investor	investor	NOUN
aeasj-261	252	11	who	who	PRON
aeasj-261	252	12	requires	require	VERB
aeasj-261	252	13	funds	fund	NOUN
aeasj-261	252	14	will	will	AUX
aeasj-261	252	15	prefer	prefer	VERB
aeasj-261	252	16	going	go	VERB
aeasj-261	252	17	to	to	ADP
aeasj-261	252	18	the	the	DET
aeasj-261	252	19	stock	stock	NOUN
aeasj-261	252	20	market	market	NOUN
aeasj-261	252	21	to	to	PART
aeasj-261	252	22	raise	raise	VERB
aeasj-261	252	23	fund	fund	NOUN
aeasj-261	252	24	since	since	SCONJ
aeasj-261	252	25	the	the	DET
aeasj-261	252	26	cost	cost	NOUN
aeasj-261	252	27	of	of	ADP
aeasj-261	252	28	raising	raise	VERB
aeasj-261	252	29	fund	fund	NOUN
aeasj-261	252	30	in	in	ADP
aeasj-261	252	31	the	the	DET
aeasj-261	252	32	bank	bank	NOUN
aeasj-261	252	33	is	be	AUX
aeasj-261	252	34	very	very	ADV
aeasj-261	252	35	high	high	ADJ
aeasj-261	252	36	.	.	PUNCT
aeasj-261	253	1	hence	hence	ADV
aeasj-261	253	2	,	,	PUNCT
aeasj-261	253	3	a	a	DET
aeasj-261	253	4	market	market	NOUN
aeasj-261	253	5	-	-	PUNCT
aeasj-261	253	6	based	base	VERB
aeasj-261	253	7	financial	financial	ADJ
aeasj-261	253	8	system	system	NOUN
aeasj-261	253	9	is	be	AUX
aeasj-261	253	10	better	well	ADJ
aeasj-261	253	11	at	at	ADP
aeasj-261	253	12	enhancing	enhance	VERB
aeasj-261	253	13	economic	economic	ADJ
aeasj-261	253	14	growth	growth	NOUN
aeasj-261	253	15	.	.	PUNCT
aeasj-261	254	1	on	on	ADP
aeasj-261	254	2	whether	whether	SCONJ
aeasj-261	254	3	both	both	PRON
aeasj-261	254	4	are	be	AUX
aeasj-261	254	5	substitute	substitute	ADJ
aeasj-261	254	6	or	or	CCONJ
aeasj-261	254	7	complement	complement	NOUN
aeasj-261	254	8	,	,	PUNCT
aeasj-261	254	9	the	the	DET
aeasj-261	254	10	result	result	NOUN
aeasj-261	254	11	from	from	ADP
aeasj-261	254	12	table	table	NOUN
aeasj-261	254	13	5	5	NUM
aeasj-261	254	14	reveals	reveal	VERB
aeasj-261	254	15	that	that	SCONJ
aeasj-261	254	16	the	the	DET
aeasj-261	254	17	signs	sign	NOUN
aeasj-261	254	18	on	on	ADP
aeasj-261	254	19	both	both	CCONJ
aeasj-261	254	20	the	the	DET
aeasj-261	254	21	bank	bank	NOUN
aeasj-261	254	22	and	and	CCONJ
aeasj-261	254	23	stock	stock	NOUN
aeasj-261	254	24	market	market	NOUN
aeasj-261	254	25	variables	variable	NOUN
aeasj-261	254	26	are	be	AUX
aeasj-261	254	27	different	different	ADJ
aeasj-261	254	28	;	;	PUNCT
aeasj-261	254	29	the	the	DET
aeasj-261	254	30	bank	bank	NOUN
aeasj-261	254	31	activity	activity	NOUN
aeasj-261	254	32	sign	sign	NOUN
aeasj-261	254	33	is	be	AUX
aeasj-261	254	34	negative	negative	ADJ
aeasj-261	254	35	while	while	SCONJ
aeasj-261	254	36	stock	stock	NOUN
aeasj-261	254	37	market	market	NOUN
aeasj-261	254	38	sign	sign	NOUN
aeasj-261	254	39	is	be	AUX
aeasj-261	254	40	positive	positive	ADJ
aeasj-261	254	41	which	which	PRON
aeasj-261	254	42	implies	imply	VERB
aeasj-261	254	43	that	that	SCONJ
aeasj-261	254	44	both	both	PRON
aeasj-261	254	45	are	be	AUX
aeasj-261	254	46	substitute	substitute	ADJ
aeasj-261	254	47	.	.	PUNCT
aeasj-261	255	1	hence	hence	ADV
aeasj-261	255	2	,	,	PUNCT
aeasj-261	255	3	this	this	PRON
aeasj-261	255	4	supports	support	VERB
aeasj-261	255	5	the	the	DET
aeasj-261	255	6	hypothesis	hypothesis	NOUN
aeasj-261	255	7	that	that	PRON
aeasj-261	255	8	bank	bank	NOUN
aeasj-261	255	9	and	and	CCONJ
aeasj-261	255	10	stock	stock	NOUN
aeasj-261	255	11	market	market	NOUN
aeasj-261	255	12	are	be	AUX
aeasj-261	255	13	substitute	substitute	ADJ
aeasj-261	255	14	.	.	PUNCT
aeasj-261	256	1	this	this	DET
aeasj-261	256	2	result	result	NOUN
aeasj-261	256	3	collaborates	collaborate	VERB
aeasj-261	256	4	with	with	ADP
aeasj-261	256	5	saibu	saibu	PROPN
aeasj-261	256	6	et	et	PROPN
aeasj-261	256	7	al	al	PROPN
aeasj-261	256	8	,	,	PUNCT
aeasj-261	256	9	(	(	PUNCT
aeasj-261	256	10	2009	2009	NUM
aeasj-261	256	11	)	)	PUNCT
aeasj-261	256	12	and	and	CCONJ
aeasj-261	256	13	,	,	PUNCT
aeasj-261	256	14	inconsistent	inconsistent	ADJ
aeasj-261	256	15	with	with	ADP
aeasj-261	256	16	the	the	DET
aeasj-261	256	17	world	world	PROPN
aeasj-261	256	18	bank	bank	PROPN
aeasj-261	256	19	(	(	PUNCT
aeasj-261	256	20	2001	2001	NUM
aeasj-261	256	21	)	)	PUNCT
aeasj-261	256	22	.	.	PUNCT
aeasj-261	257	1	the	the	DET
aeasj-261	257	2	reasons	reason	NOUN
aeasj-261	257	3	for	for	ADP
aeasj-261	257	4	this	this	DET
aeasj-261	257	5	result	result	NOUN
aeasj-261	257	6	could	could	AUX
aeasj-261	257	7	be	be	AUX
aeasj-261	257	8	based	base	VERB
aeasj-261	257	9	on	on	ADP
aeasj-261	257	10	theoretical	theoretical	ADJ
aeasj-261	257	11	argument	argument	NOUN
aeasj-261	257	12	and	and	CCONJ
aeasj-261	257	13	problems	problem	NOUN
aeasj-261	257	14	in	in	ADP
aeasj-261	257	15	credit	credit	NOUN
aeasj-261	257	16	allocation	allocation	NOUN
aeasj-261	257	17	.	.	PUNCT
aeasj-261	258	1	however	however	ADV
aeasj-261	258	2	,	,	PUNCT
aeasj-261	258	3	it	it	PRON
aeasj-261	258	4	is	be	AUX
aeasj-261	258	5	proper	proper	ADJ
aeasj-261	258	6	to	to	PART
aeasj-261	258	7	focus	focus	VERB
aeasj-261	258	8	on	on	ADP
aeasj-261	258	9	the	the	DET
aeasj-261	258	10	significance	significance	NOUN
aeasj-261	258	11	or	or	CCONJ
aeasj-261	258	12	otherwise	otherwise	ADV
aeasj-261	258	13	of	of	ADP
aeasj-261	258	14	the	the	DET
aeasj-261	258	15	coefficients	coefficient	NOUN
aeasj-261	258	16	of	of	ADP
aeasj-261	258	17	financial	financial	ADJ
aeasj-261	258	18	development	development	NOUN
aeasj-261	258	19	variables	variable	NOUN
aeasj-261	258	20	,	,	PUNCT
aeasj-261	258	21	rather	rather	ADV
aeasj-261	258	22	than	than	ADP
aeasj-261	258	23	their	their	PRON
aeasj-261	258	24	signs	sign	NOUN
aeasj-261	258	25	(	(	PUNCT
aeasj-261	258	26	arestis	arestis	PROPN
aeasj-261	258	27	et	et	PROPN
aeasj-261	258	28	al	al	PROPN
aeasj-261	258	29	,	,	PUNCT
aeasj-261	258	30	2004	2004	NUM
aeasj-261	258	31	and	and	CCONJ
aeasj-261	258	32	,	,	PUNCT
aeasj-261	258	33	olofin	olofin	NOUN
aeasj-261	258	34	and	and	CCONJ
aeasj-261	258	35	afangideh	afangideh	NOUN
aeasj-261	258	36	,	,	PUNCT
aeasj-261	258	37	2009	2009	NUM
aeasj-261	258	38	)	)	PUNCT
aeasj-261	258	39	.	.	PUNCT
aeasj-261	259	1	given	give	VERB
aeasj-261	259	2	the	the	DET
aeasj-261	259	3	bank	bank	NOUN
aeasj-261	259	4	and	and	CCONJ
aeasj-261	259	5	market	market	NOUN
aeasj-261	259	6	system	system	NOUN
aeasj-261	259	7	variables	variable	VERB
aeasj-261	259	8	,	,	PUNCT
aeasj-261	259	9	it	it	PRON
aeasj-261	259	10	shows	show	VERB
aeasj-261	259	11	that	that	SCONJ
aeasj-261	259	12	the	the	DET
aeasj-261	259	13	both	both	PRON
aeasj-261	259	14	are	be	AUX
aeasj-261	259	15	significantly	significantly	ADV
aeasj-261	259	16	influencing	influence	VERB
aeasj-261	259	17	economic	economic	ADJ
aeasj-261	259	18	growth	growth	NOUN
aeasj-261	259	19	in	in	ADP
aeasj-261	259	20	nigeria	nigeria	PROPN
aeasj-261	259	21	.	.	PUNCT
aeasj-261	260	1	the	the	DET
aeasj-261	260	2	significant	significant	ADJ
aeasj-261	260	3	of	of	ADP
aeasj-261	260	4	the	the	DET
aeasj-261	260	5	coefficients	coefficient	NOUN
aeasj-261	260	6	of	of	ADP
aeasj-261	260	7	both	both	DET
aeasj-261	260	8	bank	bank	NOUN
aeasj-261	260	9	and	and	CCONJ
aeasj-261	260	10	stock	stock	NOUN
aeasj-261	260	11	market	market	NOUN
aeasj-261	260	12	imply	imply	VERB
aeasj-261	260	13	that	that	SCONJ
aeasj-261	260	14	both	both	DET
aeasj-261	260	15	systems	system	NOUN
aeasj-261	260	16	matter	matter	VERB
aeasj-261	260	17	while	while	SCONJ
aeasj-261	260	18	the	the	DET
aeasj-261	260	19	reverse	reverse	NOUN
aeasj-261	260	20	is	be	AUX
aeasj-261	260	21	the	the	DET
aeasj-261	260	22	case	case	NOUN
aeasj-261	260	23	.	.	PUNCT
aeasj-261	261	1	however	however	ADV
aeasj-261	261	2	,	,	PUNCT
aeasj-261	261	3	to	to	PART
aeasj-261	261	4	confirm	confirm	VERB
aeasj-261	261	5	whether	whether	SCONJ
aeasj-261	261	6	both	both	CCONJ
aeasj-261	261	7	bank	bank	NOUN
aeasj-261	261	8	and	and	CCONJ
aeasj-261	261	9	stock	stock	NOUN
aeasj-261	261	10	market	market	NOUN
aeasj-261	261	11	system	system	NOUN
aeasj-261	261	12	matter	matter	NOUN
aeasj-261	261	13	or	or	CCONJ
aeasj-261	261	14	not	not	PART
aeasj-261	261	15	in	in	ADP
aeasj-261	261	16	explaining	explain	VERB
aeasj-261	261	17	economic	economic	ADJ
aeasj-261	261	18	growth	growth	NOUN
aeasj-261	261	19	in	in	ADP
aeasj-261	261	20	nigeria	nigeria	PROPN
aeasj-261	261	21	,	,	PUNCT
aeasj-261	261	22	the	the	DET
aeasj-261	261	23	relationship	relationship	NOUN
aeasj-261	261	24	between	between	ADP
aeasj-261	261	25	financial	financial	ADJ
aeasj-261	261	26	structure	structure	NOUN
aeasj-261	261	27	(	(	PUNCT
aeasj-261	261	28	overall	overall	ADJ
aeasj-261	261	29	financial	financial	ADJ
aeasj-261	261	30	system	system	NOUN
aeasj-261	261	31	which	which	PRON
aeasj-261	261	32	combined	combine	VERB
aeasj-261	261	33	both	both	DET
aeasj-261	261	34	systems	system	NOUN
aeasj-261	261	35	)	)	PUNCT
aeasj-261	261	36	and	and	CCONJ
aeasj-261	261	37	economic	economic	ADJ
aeasj-261	261	38	growth	growth	NOUN
aeasj-261	261	39	was	be	AUX
aeasj-261	261	40	examined	examine	VERB
aeasj-261	261	41	(	(	PUNCT
aeasj-261	261	42	see	see	VERB
aeasj-261	261	43	section	section	NOUN
aeasj-261	261	44	4.5	4.5	NUM
aeasj-261	261	45	)	)	PUNCT
aeasj-261	261	46	.	.	PUNCT
aeasj-261	262	1	copyright	copyright	NOUN
aeasj-261	262	2	©	©	PROPN
aeasj-261	262	3	cc	cc	PROPN
aeasj-261	262	4	-	-	PUNCT
aeasj-261	262	5	by	by	ADP
aeasj-261	262	6	-	-	PUNCT
aeasj-261	262	7	nc	nc	PROPN
aeasj-261	262	8	2019	2019	NUM
aeasj-261	262	9	,	,	PUNCT
aeasj-261	262	10	cribfb	cribfb	PROPN
aeasj-261	262	11	|	|	ADV
aeasj-261	262	12	afbr	afbr	PROPN
aeasj-261	262	13	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	262	14	american	american	PROPN
aeasj-261	262	15	economic	economic	PROPN
aeasj-261	262	16	&	&	CCONJ
aeasj-261	262	17	social	social	PROPN
aeasj-261	262	18	review	review	PROPN
aeasj-261	262	19	vol	vol	NOUN
aeasj-261	262	20	.	.	PROPN
aeasj-261	263	1	5	5	NUM
aeasj-261	263	2	,	,	PUNCT
aeasj-261	263	3	no	no	INTJ
aeasj-261	263	4	.	.	NOUN
aeasj-261	263	5	1	1	NUM
aeasj-261	263	6	;	;	PUNCT
aeasj-261	263	7	2019	2019	NUM
aeasj-261	263	8	42	42	NUM
aeasj-261	263	9	table	table	NOUN
aeasj-261	263	10	6	6	NUM
aeasj-261	263	11	:	:	PUNCT
aeasj-261	263	12	multivariate	multivariate	NOUN
aeasj-261	263	13	vecm	vecm	NOUN
aeasj-261	263	14	causality	causality	NOUN
aeasj-261	263	15	test	test	NOUN
aeasj-261	263	16	(	(	PUNCT
aeasj-261	263	17	short	short	ADJ
aeasj-261	263	18	term	term	NOUN
aeasj-261	263	19	)	)	PUNCT
aeasj-261	264	1	dependent	dependent	ADJ
aeasj-261	264	2	variable	variable	ADJ
aeasj-261	264	3	independent	independent	ADJ
aeasj-261	264	4	variable	variable	ADJ
aeasj-261	264	5	ect(-1	ect(-1	PROPN
aeasj-261	264	6	)	)	PUNCT
aeasj-261	264	7	d(lrgdp	d(lrgdp	PROPN
aeasj-261	264	8	)	)	PUNCT
aeasj-261	264	9	d(bcp_r	d(bcp_r	NOUN
aeasj-261	264	10	)	)	PUNCT
aeasj-261	264	11	d(smc_r	d(smc_r	PROPN
aeasj-261	264	12	)	)	PUNCT
aeasj-261	264	13	d(lrgdp	d(lrgdp	PROPN
aeasj-261	264	14	)	)	PUNCT
aeasj-261	264	15	0.3306	0.3306	NUM
aeasj-261	264	16	0.2095	0.2095	NUM
aeasj-261	264	17	-0.042689	-0.042689	NOUN
aeasj-261	264	18	*	*	PUNCT
aeasj-261	264	19	*	*	PUNCT
aeasj-261	264	20	*	*	PUNCT
aeasj-261	264	21	d(bcp_r	d(bcp_r	PROPN
aeasj-261	264	22	)	)	PUNCT
aeasj-261	264	23	0.0205	0.0205	NUM
aeasj-261	264	24	*	*	PUNCT
aeasj-261	264	25	*	*	PUNCT
aeasj-261	265	1	0.0008	0.0008	NUM
aeasj-261	265	2	*	*	NUM
aeasj-261	265	3	4.142087	4.142087	NUM
aeasj-261	265	4	*	*	PUNCT
aeasj-261	265	5	d(smc_r	d(smc_r	PROPN
aeasj-261	265	6	)	)	PUNCT
aeasj-261	265	7	0.8917	0.8917	NUM
aeasj-261	265	8	0.2370	0.2370	NUM
aeasj-261	265	9	0.031604	0.031604	NUM
aeasj-261	265	10	*	*	PUNCT
aeasj-261	265	11	significant	significant	ADJ
aeasj-261	265	12	at	at	ADP
aeasj-261	265	13	1	1	NUM
aeasj-261	265	14	%	%	NOUN
aeasj-261	265	15	,	,	PUNCT
aeasj-261	265	16	*	*	PUNCT
aeasj-261	265	17	*	*	PUNCT
aeasj-261	265	18	significant	significant	ADJ
aeasj-261	265	19	at	at	ADP
aeasj-261	265	20	5	5	NUM
aeasj-261	265	21	%	%	NOUN
aeasj-261	265	22	and	and	CCONJ
aeasj-261	265	23	*	*	NOUN
aeasj-261	265	24	*	*	PUNCT
aeasj-261	265	25	*	*	VERB
aeasj-261	265	26	significant	significant	ADJ
aeasj-261	265	27	at	at	ADP
aeasj-261	265	28	5	5	NUM
aeasj-261	265	29	%	%	NOUN
aeasj-261	265	30	source	source	NOUN
aeasj-261	265	31	:	:	PUNCT
aeasj-261	265	32	calculations	calculation	NOUN
aeasj-261	265	33	by	by	ADP
aeasj-261	265	34	authors	author	NOUN
aeasj-261	265	35	using	use	VERB
aeasj-261	265	36	eviews	eviews	PROPN
aeasj-261	265	37	9	9	NUM
aeasj-261	265	38	.	.	PUNCT
aeasj-261	266	1	after	after	ADP
aeasj-261	266	2	exploring	explore	VERB
aeasj-261	266	3	the	the	DET
aeasj-261	266	4	long	long	ADJ
aeasj-261	266	5	run	run	NOUN
aeasj-261	266	6	association	association	NOUN
aeasj-261	266	7	between	between	ADP
aeasj-261	266	8	economic	economic	ADJ
aeasj-261	266	9	growth	growth	NOUN
aeasj-261	266	10	and	and	CCONJ
aeasj-261	266	11	measures	measure	NOUN
aeasj-261	266	12	of	of	ADP
aeasj-261	266	13	financial	financial	ADJ
aeasj-261	266	14	development	development	NOUN
aeasj-261	266	15	,	,	PUNCT
aeasj-261	266	16	we	we	PRON
aeasj-261	266	17	now	now	ADV
aeasj-261	266	18	proceed	proceed	VERB
aeasj-261	266	19	to	to	PART
aeasj-261	266	20	multivariate	multivariate	VERB
aeasj-261	266	21	granger	granger	PROPN
aeasj-261	266	22	causality	causality	PROPN
aeasj-261	266	23	test	test	NOUN
aeasj-261	266	24	based	base	VERB
aeasj-261	266	25	on	on	ADP
aeasj-261	266	26	vecm	vecm	NOUN
aeasj-261	266	27	.	.	PUNCT
aeasj-261	267	1	at	at	ADP
aeasj-261	267	2	this	this	DET
aeasj-261	267	3	juncture	juncture	NOUN
aeasj-261	267	4	,	,	PUNCT
aeasj-261	267	5	it	it	PRON
aeasj-261	267	6	is	be	AUX
aeasj-261	267	7	important	important	ADJ
aeasj-261	267	8	to	to	PART
aeasj-261	267	9	note	note	VERB
aeasj-261	267	10	that	that	SCONJ
aeasj-261	267	11	the	the	DET
aeasj-261	267	12	documented	document	VERB
aeasj-261	267	13	cointegration	cointegration	NOUN
aeasj-261	267	14	among	among	ADP
aeasj-261	267	15	the	the	DET
aeasj-261	267	16	variables	variable	NOUN
aeasj-261	267	17	suggests	suggest	VERB
aeasj-261	267	18	only	only	ADV
aeasj-261	267	19	their	their	PRON
aeasj-261	267	20	long	long	ADJ
aeasj-261	267	21	run	run	NOUN
aeasj-261	267	22	association	association	NOUN
aeasj-261	267	23	and	and	CCONJ
aeasj-261	267	24	,	,	PUNCT
aeasj-261	267	25	while	while	SCONJ
aeasj-261	267	26	it	it	PRON
aeasj-261	267	27	implies	imply	VERB
aeasj-261	267	28	causality	causality	NOUN
aeasj-261	267	29	but	but	CCONJ
aeasj-261	267	30	does	do	AUX
aeasj-261	267	31	not	not	PART
aeasj-261	267	32	reveal	reveal	VERB
aeasj-261	267	33	the	the	DET
aeasj-261	267	34	directions	direction	NOUN
aeasj-261	267	35	of	of	ADP
aeasj-261	267	36	causation	causation	NOUN
aeasj-261	267	37	among	among	ADP
aeasj-261	267	38	them	they	PRON
aeasj-261	267	39	.	.	PUNCT
aeasj-261	268	1	table	table	NOUN
aeasj-261	268	2	6	6	NUM
aeasj-261	268	3	reports	report	VERB
aeasj-261	268	4	the	the	DET
aeasj-261	268	5	multivariate	multivariate	NOUN
aeasj-261	268	6	causalities	causality	NOUN
aeasj-261	268	7	among	among	ADP
aeasj-261	268	8	the	the	DET
aeasj-261	268	9	economic	economic	ADJ
aeasj-261	268	10	growth	growth	NOUN
aeasj-261	268	11	and	and	CCONJ
aeasj-261	268	12	financial	financial	ADJ
aeasj-261	268	13	variables	variable	NOUN
aeasj-261	268	14	.	.	PUNCT
aeasj-261	269	1	it	it	PRON
aeasj-261	269	2	examines	examine	VERB
aeasj-261	269	3	the	the	DET
aeasj-261	269	4	short	short	ADJ
aeasj-261	269	5	run	run	NOUN
aeasj-261	269	6	line	line	NOUN
aeasj-261	269	7	of	of	ADP
aeasj-261	269	8	causation	causation	NOUN
aeasj-261	269	9	between	between	ADP
aeasj-261	269	10	economic	economic	ADJ
aeasj-261	269	11	growth	growth	NOUN
aeasj-261	269	12	and	and	CCONJ
aeasj-261	269	13	financial	financial	ADJ
aeasj-261	269	14	structure	structure	NOUN
aeasj-261	269	15	and	and	CCONJ
aeasj-261	269	16	,	,	PUNCT
aeasj-261	269	17	other	other	ADJ
aeasj-261	269	18	variables	variable	NOUN
aeasj-261	269	19	.	.	PUNCT
aeasj-261	270	1	also	also	ADV
aeasj-261	270	2	,	,	PUNCT
aeasj-261	270	3	multivariate	multivariate	NOUN
aeasj-261	270	4	vecm	vecm	NOUN
aeasj-261	270	5	causality	causality	NOUN
aeasj-261	270	6	helps	help	VERB
aeasj-261	270	7	to	to	PART
aeasj-261	270	8	determine	determine	VERB
aeasj-261	270	9	how	how	SCONJ
aeasj-261	270	10	the	the	DET
aeasj-261	270	11	underlying	underlying	ADJ
aeasj-261	270	12	variables	variable	NOUN
aeasj-261	270	13	enter	enter	VERB
aeasj-261	270	14	the	the	DET
aeasj-261	270	15	model	model	NOUN
aeasj-261	270	16	.	.	PUNCT
aeasj-261	271	1	relatively	relatively	ADV
aeasj-261	271	2	,	,	PUNCT
aeasj-261	271	3	the	the	DET
aeasj-261	271	4	multivariate	multivariate	NOUN
aeasj-261	271	5	vecm	vecm	VERB
aeasj-261	271	6	causality	causality	NOUN
aeasj-261	271	7	is	be	AUX
aeasj-261	271	8	preferred	prefer	VERB
aeasj-261	271	9	to	to	AUX
aeasj-261	271	10	vecm	vecm	NOUN
aeasj-261	271	11	system	system	NOUN
aeasj-261	271	12	equation	equation	NOUN
aeasj-261	271	13	in	in	ADP
aeasj-261	271	14	differences	difference	NOUN
aeasj-261	271	15	since	since	SCONJ
aeasj-261	271	16	the	the	DET
aeasj-261	271	17	interpretation	interpretation	NOUN
aeasj-261	271	18	of	of	ADP
aeasj-261	271	19	vecm	vecm	NOUN
aeasj-261	271	20	system	system	NOUN
aeasj-261	271	21	equation	equation	NOUN
aeasj-261	271	22	is	be	AUX
aeasj-261	271	23	difficult	difficult	ADJ
aeasj-261	271	24	.	.	PUNCT
aeasj-261	272	1	table	table	NOUN
aeasj-261	272	2	6	6	NUM
aeasj-261	272	3	shows	show	VERB
aeasj-261	272	4	that	that	SCONJ
aeasj-261	272	5	there	there	PRON
aeasj-261	272	6	is	be	VERB
aeasj-261	272	7	no	no	DET
aeasj-261	272	8	any	any	DET
aeasj-261	272	9	causation	causation	NOUN
aeasj-261	272	10	in	in	ADP
aeasj-261	272	11	short	short	ADJ
aeasj-261	272	12	term	term	NOUN
aeasj-261	272	13	running	run	VERB
aeasj-261	272	14	from	from	ADP
aeasj-261	272	15	financial	financial	ADJ
aeasj-261	272	16	development	development	NOUN
aeasj-261	272	17	variables	variable	NOUN
aeasj-261	272	18	(	(	PUNCT
aeasj-261	272	19	bpc_r	bpc_r	NOUN
aeasj-261	272	20	and	and	CCONJ
aeasj-261	272	21	smc_r	smc_r	PROPN
aeasj-261	272	22	)	)	PUNCT
aeasj-261	272	23	to	to	ADP
aeasj-261	272	24	economic	economic	ADJ
aeasj-261	272	25	growth	growth	NOUN
aeasj-261	272	26	(	(	PUNCT
aeasj-261	272	27	lrgdp	lrgdp	NOUN
aeasj-261	272	28	)	)	PUNCT
aeasj-261	272	29	in	in	ADP
aeasj-261	272	30	the	the	DET
aeasj-261	272	31	nigeria	nigeria	PROPN
aeasj-261	272	32	economy	economy	NOUN
aeasj-261	272	33	while	while	SCONJ
aeasj-261	272	34	there	there	PRON
aeasj-261	272	35	is	be	VERB
aeasj-261	272	36	long	long	ADJ
aeasj-261	272	37	run	run	NOUN
aeasj-261	272	38	causality	causality	NOUN
aeasj-261	272	39	between	between	ADP
aeasj-261	272	40	financial	financial	ADJ
aeasj-261	272	41	development	development	NOUN
aeasj-261	272	42	variables	variable	NOUN
aeasj-261	272	43	and	and	CCONJ
aeasj-261	272	44	economic	economic	ADJ
aeasj-261	272	45	growth	growth	NOUN
aeasj-261	272	46	.	.	PUNCT
aeasj-261	273	1	also	also	ADV
aeasj-261	273	2	,	,	PUNCT
aeasj-261	273	3	the	the	DET
aeasj-261	273	4	result	result	NOUN
aeasj-261	273	5	reveals	reveal	VERB
aeasj-261	273	6	that	that	SCONJ
aeasj-261	273	7	there	there	PRON
aeasj-261	273	8	is	be	VERB
aeasj-261	273	9	a	a	DET
aeasj-261	273	10	short	short	ADJ
aeasj-261	273	11	-	-	PUNCT
aeasj-261	273	12	run	run	NOUN
aeasj-261	273	13	interaction	interaction	NOUN
aeasj-261	273	14	between	between	ADP
aeasj-261	273	15	lrgdp	lrgdp	NOUN
aeasj-261	273	16	and	and	CCONJ
aeasj-261	273	17	bpc_r	bpc_r	NOUN
aeasj-261	273	18	,	,	PUNCT
aeasj-261	273	19	which	which	PRON
aeasj-261	273	20	runs	run	VERB
aeasj-261	273	21	from	from	ADP
aeasj-261	273	22	economic	economic	ADJ
aeasj-261	273	23	growth	growth	NOUN
aeasj-261	273	24	(	(	PUNCT
aeasj-261	273	25	lrgdp	lrgdp	NOUN
aeasj-261	273	26	)	)	PUNCT
aeasj-261	273	27	to	to	ADP
aeasj-261	273	28	financial	financial	ADJ
aeasj-261	273	29	development	development	NOUN
aeasj-261	273	30	(	(	PUNCT
aeasj-261	273	31	bpc_r	bpc_r	NOUN
aeasj-261	273	32	)	)	PUNCT
aeasj-261	273	33	.	.	PUNCT
aeasj-261	274	1	this	this	DET
aeasj-261	274	2	finding	finding	NOUN
aeasj-261	274	3	supports	support	VERB
aeasj-261	274	4	the	the	DET
aeasj-261	274	5	view	view	NOUN
aeasj-261	274	6	,	,	PUNCT
aeasj-261	274	7	the	the	DET
aeasj-261	274	8	growth	growth	NOUN
aeasj-261	274	9	-	-	PUNCT
aeasj-261	274	10	led	lead	VERB
aeasj-261	274	11	finance	finance	NOUN
aeasj-261	274	12	hypothesis	hypothesis	NOUN
aeasj-261	274	13	.	.	PUNCT
aeasj-261	275	1	based	base	VERB
aeasj-261	275	2	on	on	ADP
aeasj-261	275	3	this	this	DET
aeasj-261	275	4	view	view	NOUN
aeasj-261	275	5	,	,	PUNCT
aeasj-261	275	6	the	the	DET
aeasj-261	275	7	financial	financial	ADJ
aeasj-261	275	8	development	development	NOUN
aeasj-261	275	9	in	in	ADP
aeasj-261	275	10	nigeria	nigeria	PROPN
aeasj-261	275	11	follows	follow	VERB
aeasj-261	275	12	economic	economic	ADJ
aeasj-261	275	13	growth	growth	NOUN
aeasj-261	275	14	.	.	PUNCT
aeasj-261	276	1	the	the	DET
aeasj-261	276	2	adjustment	adjustment	NOUN
aeasj-261	276	3	coefficients	coefficient	NOUN
aeasj-261	276	4	(	(	PUNCT
aeasj-261	276	5	ect(-1	ect(-1	NOUN
aeasj-261	276	6	)	)	PUNCT
aeasj-261	276	7	)	)	PUNCT
aeasj-261	276	8	in	in	ADP
aeasj-261	276	9	table	table	NOUN
aeasj-261	276	10	6	6	NUM
aeasj-261	276	11	show	show	VERB
aeasj-261	276	12	the	the	DET
aeasj-261	276	13	speed	speed	NOUN
aeasj-261	276	14	of	of	ADP
aeasj-261	276	15	adjustment	adjustment	NOUN
aeasj-261	276	16	towards	towards	ADP
aeasj-261	276	17	equilibrium	equilibrium	NOUN
aeasj-261	276	18	path	path	NOUN
aeasj-261	276	19	.	.	PUNCT
aeasj-261	277	1	as	as	SCONJ
aeasj-261	277	2	shown	show	VERB
aeasj-261	277	3	in	in	ADP
aeasj-261	277	4	the	the	DET
aeasj-261	277	5	table	table	NOUN
aeasj-261	277	6	,	,	PUNCT
aeasj-261	277	7	the	the	DET
aeasj-261	277	8	coefficient	coefficient	NOUN
aeasj-261	277	9	of	of	ADP
aeasj-261	277	10	adjustment	adjustment	NOUN
aeasj-261	277	11	in	in	ADP
aeasj-261	277	12	lrgdp	lrgdp	NOUN
aeasj-261	277	13	equation	equation	NOUN
aeasj-261	277	14	is	be	AUX
aeasj-261	277	15	rightly	rightly	ADV
aeasj-261	277	16	signed	sign	VERB
aeasj-261	277	17	and	and	CCONJ
aeasj-261	277	18	statistically	statistically	ADV
aeasj-261	277	19	significant	significant	ADJ
aeasj-261	277	20	at	at	ADP
aeasj-261	277	21	10	10	NUM
aeasj-261	277	22	percent	percent	NOUN
aeasj-261	277	23	significance	significance	NOUN
aeasj-261	277	24	level	level	NOUN
aeasj-261	277	25	.	.	PUNCT
aeasj-261	278	1	this	this	PRON
aeasj-261	278	2	shows	show	VERB
aeasj-261	278	3	that	that	SCONJ
aeasj-261	278	4	the	the	DET
aeasj-261	278	5	underlying	underlying	ADJ
aeasj-261	278	6	variables	variable	NOUN
aeasj-261	278	7	are	be	AUX
aeasj-261	278	8	cointegrated	cointegrate	VERB
aeasj-261	278	9	and	and	CCONJ
aeasj-261	278	10	a	a	DET
aeasj-261	278	11	long	long	ADJ
aeasj-261	278	12	run	run	NOUN
aeasj-261	278	13	equilibrium	equilibrium	NOUN
aeasj-261	278	14	relationship	relationship	NOUN
aeasj-261	278	15	exists	exist	VERB
aeasj-261	278	16	between	between	ADP
aeasj-261	278	17	the	the	DET
aeasj-261	278	18	variables	variable	NOUN
aeasj-261	278	19	.	.	PUNCT
aeasj-261	279	1	the	the	DET
aeasj-261	279	2	result	result	NOUN
aeasj-261	279	3	also	also	ADV
aeasj-261	279	4	reveals	reveal	VERB
aeasj-261	279	5	that	that	SCONJ
aeasj-261	279	6	the	the	DET
aeasj-261	279	7	lrgdp	lrgdp	NOUN
aeasj-261	279	8	adjust	adjust	VERB
aeasj-261	279	9	by	by	ADP
aeasj-261	279	10	4	4	NUM
aeasj-261	279	11	percent	percent	NOUN
aeasj-261	279	12	every	every	DET
aeasj-261	279	13	year	year	NOUN
aeasj-261	279	14	whenever	whenever	SCONJ
aeasj-261	279	15	the	the	DET
aeasj-261	279	16	variables	variable	NOUN
aeasj-261	279	17	drift	drift	VERB
aeasj-261	279	18	away	away	ADV
aeasj-261	279	19	from	from	ADP
aeasj-261	279	20	the	the	DET
aeasj-261	279	21	long	long	ADJ
aeasj-261	279	22	run	run	NOUN
aeasj-261	279	23	equilibrium	equilibrium	NOUN
aeasj-261	279	24	,	,	PUNCT
aeasj-261	279	25	which	which	PRON
aeasj-261	279	26	is	be	AUX
aeasj-261	279	27	quite	quite	ADV
aeasj-261	279	28	slow	slow	ADJ
aeasj-261	279	29	.	.	PUNCT
aeasj-261	280	1	on	on	ADP
aeasj-261	280	2	the	the	DET
aeasj-261	280	3	other	other	ADJ
aeasj-261	280	4	hand	hand	NOUN
aeasj-261	280	5	,	,	PUNCT
aeasj-261	280	6	the	the	DET
aeasj-261	280	7	coefficients	coefficient	NOUN
aeasj-261	280	8	adjustment	adjustment	NOUN
aeasj-261	280	9	in	in	ADP
aeasj-261	280	10	equation	equation	NOUN
aeasj-261	280	11	bpc_r	bpc_r	NOUN
aeasj-261	280	12	is	be	AUX
aeasj-261	280	13	wrongly	wrongly	ADV
aeasj-261	280	14	signed	sign	VERB
aeasj-261	280	15	and	and	CCONJ
aeasj-261	280	16	significant	significant	ADJ
aeasj-261	280	17	while	while	SCONJ
aeasj-261	280	18	that	that	PRON
aeasj-261	280	19	of	of	ADP
aeasj-261	280	20	smc_r	smc_r	NOUN
aeasj-261	280	21	is	be	AUX
aeasj-261	280	22	wrongly	wrongly	ADV
aeasj-261	280	23	signed	sign	VERB
aeasj-261	280	24	and	and	CCONJ
aeasj-261	280	25	not	not	PART
aeasj-261	280	26	significant	significant	ADJ
aeasj-261	280	27	.	.	PUNCT
aeasj-261	281	1	4.4	4.4	NUM
aeasj-261	281	2	model	model	NOUN
aeasj-261	281	3	appraisal	appraisal	NOUN
aeasj-261	281	4	model	model	NOUN
aeasj-261	281	5	appraisal	appraisal	NOUN
aeasj-261	281	6	is	be	AUX
aeasj-261	281	7	aimed	aim	VERB
aeasj-261	281	8	at	at	ADP
aeasj-261	281	9	validating	validate	VERB
aeasj-261	281	10	the	the	DET
aeasj-261	281	11	parameter	parameter	NOUN
aeasj-261	281	12	outcomes	outcome	NOUN
aeasj-261	281	13	achieved	achieve	VERB
aeasj-261	281	14	by	by	ADP
aeasj-261	281	15	the	the	DET
aeasj-261	281	16	estimated	estimate	VERB
aeasj-261	281	17	model	model	NOUN
aeasj-261	281	18	.	.	PUNCT
aeasj-261	282	1	the	the	DET
aeasj-261	282	2	appraisal	appraisal	NOUN
aeasj-261	282	3	is	be	AUX
aeasj-261	282	4	important	important	ADJ
aeasj-261	282	5	because	because	SCONJ
aeasj-261	282	6	if	if	SCONJ
aeasj-261	282	7	the	the	DET
aeasj-261	282	8	residuals	residual	NOUN
aeasj-261	282	9	from	from	ADP
aeasj-261	282	10	the	the	DET
aeasj-261	282	11	estimated	estimate	VERB
aeasj-261	282	12	model	model	NOUN
aeasj-261	282	13	are	be	AUX
aeasj-261	282	14	problematic	problematic	ADJ
aeasj-261	282	15	,	,	PUNCT
aeasj-261	282	16	it	it	PRON
aeasj-261	282	17	then	then	ADV
aeasj-261	282	18	means	mean	VERB
aeasj-261	282	19	that	that	SCONJ
aeasj-261	282	20	the	the	DET
aeasj-261	282	21	model	model	NOUN
aeasj-261	282	22	is	be	AUX
aeasj-261	282	23	not	not	PART
aeasj-261	282	24	efficient	efficient	ADJ
aeasj-261	282	25	and	and	CCONJ
aeasj-261	282	26	the	the	DET
aeasj-261	282	27	parameter	parameter	NOUN
aeasj-261	282	28	estimates	estimate	NOUN
aeasj-261	282	29	may	may	AUX
aeasj-261	282	30	be	be	AUX
aeasj-261	282	31	biased	bias	VERB
aeasj-261	282	32	.	.	PUNCT
aeasj-261	283	1	some	some	PRON
aeasj-261	283	2	of	of	ADP
aeasj-261	283	3	the	the	DET
aeasj-261	283	4	tests	test	NOUN
aeasj-261	283	5	carried	carry	VERB
aeasj-261	283	6	out	out	ADP
aeasj-261	283	7	on	on	ADP
aeasj-261	283	8	the	the	DET
aeasj-261	283	9	model	model	NOUN
aeasj-261	283	10	are	be	AUX
aeasj-261	283	11	;	;	PUNCT
aeasj-261	283	12	ar	ar	NOUN
aeasj-261	283	13	roots	root	NOUN
aeasj-261	283	14	,	,	PUNCT
aeasj-261	283	15	serial	serial	ADJ
aeasj-261	283	16	correlation	correlation	NOUN
aeasj-261	283	17	,	,	PUNCT
aeasj-261	283	18	normality	normality	NOUN
aeasj-261	283	19	and	and	CCONJ
aeasj-261	283	20	hetroscedasticity	hetroscedasticity	NOUN
aeasj-261	283	21	.	.	PUNCT
aeasj-261	284	1	the	the	DET
aeasj-261	284	2	results	result	NOUN
aeasj-261	284	3	are	be	AUX
aeasj-261	284	4	presented	present	VERB
aeasj-261	284	5	below	below	ADV
aeasj-261	284	6	.	.	PUNCT
aeasj-261	285	1	ar	ar	NOUN
aeasj-261	285	2	roots	root	NOUN
aeasj-261	285	3	test	test	NOUN
aeasj-261	285	4	-1.5	-1.5	PUNCT
aeasj-261	285	5	-1.0	-1.0	PROPN
aeasj-261	285	6	-0.5	-0.5	PROPN
aeasj-261	285	7	0.0	0.0	NUM
aeasj-261	285	8	0.5	0.5	NUM
aeasj-261	285	9	1.0	1.0	NUM
aeasj-261	285	10	1.5	1.5	NUM
aeasj-261	285	11	-1.5	-1.5	SYM
aeasj-261	285	12	-1.0	-1.0	PROPN
aeasj-261	285	13	-0.5	-0.5	PROPN
aeasj-261	285	14	0.0	0.0	NUM
aeasj-261	285	15	0.5	0.5	NUM
aeasj-261	285	16	1.0	1.0	NUM
aeasj-261	285	17	1.5	1.5	NUM
aeasj-261	285	18	inverse	inverse	NOUN
aeasj-261	285	19	roots	root	NOUN
aeasj-261	285	20	of	of	ADP
aeasj-261	285	21	ar	ar	NOUN
aeasj-261	285	22	characteristic	characteristic	ADJ
aeasj-261	285	23	polynomial	polynomial	ADJ
aeasj-261	285	24	figure	figure	NOUN
aeasj-261	285	25	1	1	NUM
aeasj-261	285	26	:	:	PUNCT
aeasj-261	285	27	ar	ar	NOUN
aeasj-261	285	28	roots	root	NOUN
aeasj-261	285	29	graph	graph	NOUN
aeasj-261	285	30	source	source	NOUN
aeasj-261	285	31	:	:	PUNCT
aeasj-261	285	32	calculations	calculation	NOUN
aeasj-261	285	33	by	by	ADP
aeasj-261	285	34	authors	author	NOUN
aeasj-261	285	35	using	use	VERB
aeasj-261	285	36	eviews	eviews	PROPN
aeasj-261	285	37	9	9	NUM
aeasj-261	285	38	.	.	PUNCT
aeasj-261	286	1	copyright	copyright	NOUN
aeasj-261	286	2	©	©	PROPN
aeasj-261	286	3	cc	cc	PROPN
aeasj-261	286	4	-	-	PUNCT
aeasj-261	286	5	by	by	ADP
aeasj-261	286	6	-	-	PUNCT
aeasj-261	286	7	nc	nc	PROPN
aeasj-261	286	8	2019	2019	NUM
aeasj-261	286	9	,	,	PUNCT
aeasj-261	286	10	cribfb	cribfb	PROPN
aeasj-261	286	11	|	|	ADV
aeasj-261	286	12	afbr	afbr	PROPN
aeasj-261	286	13	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	286	14	american	american	PROPN
aeasj-261	286	15	economic	economic	PROPN
aeasj-261	286	16	&	&	CCONJ
aeasj-261	286	17	social	social	PROPN
aeasj-261	286	18	review	review	PROPN
aeasj-261	286	19	vol	vol	NOUN
aeasj-261	286	20	.	.	PROPN
aeasj-261	287	1	5	5	NUM
aeasj-261	287	2	,	,	PUNCT
aeasj-261	287	3	no	no	INTJ
aeasj-261	287	4	.	.	NOUN
aeasj-261	287	5	1	1	NUM
aeasj-261	287	6	;	;	PUNCT
aeasj-261	287	7	2019	2019	NUM
aeasj-261	287	8	43	43	NUM
aeasj-261	287	9	the	the	DET
aeasj-261	287	10	ar	ar	PROPN
aeasj-261	287	11	roots	root	NOUN
aeasj-261	287	12	test	test	NOUN
aeasj-261	287	13	result	result	NOUN
aeasj-261	287	14	in	in	ADP
aeasj-261	287	15	figure	figure	NOUN
aeasj-261	287	16	1	1	NUM
aeasj-261	287	17	indicates	indicate	VERB
aeasj-261	287	18	that	that	SCONJ
aeasj-261	287	19	the	the	DET
aeasj-261	287	20	estimated	estimate	VERB
aeasj-261	287	21	model	model	NOUN
aeasj-261	287	22	is	be	AUX
aeasj-261	287	23	stationary	stationary	ADJ
aeasj-261	287	24	since	since	SCONJ
aeasj-261	287	25	there	there	PRON
aeasj-261	287	26	are	be	VERB
aeasj-261	287	27	no	no	DET
aeasj-261	287	28	roots	root	NOUN
aeasj-261	287	29	lying	lie	VERB
aeasj-261	287	30	outside	outside	ADP
aeasj-261	287	31	the	the	DET
aeasj-261	287	32	unit	unit	NOUN
aeasj-261	287	33	cycle	cycle	NOUN
aeasj-261	287	34	,	,	PUNCT
aeasj-261	287	35	meaning	mean	VERB
aeasj-261	287	36	that	that	SCONJ
aeasj-261	287	37	the	the	DET
aeasj-261	287	38	model	model	NOUN
aeasj-261	287	39	is	be	AUX
aeasj-261	287	40	stable	stable	ADJ
aeasj-261	287	41	.	.	PUNCT
aeasj-261	288	1	table	table	NOUN
aeasj-261	288	2	7	7	NUM
aeasj-261	288	3	:	:	PUNCT
aeasj-261	288	4	vec	vec	PROPN
aeasj-261	288	5	residual	residual	ADJ
aeasj-261	288	6	serial	serial	ADJ
aeasj-261	288	7	correlation	correlation	NOUN
aeasj-261	288	8	lm	lm	NOUN
aeasj-261	288	9	tests	test	NOUN
aeasj-261	288	10	lags	lag	VERB
aeasj-261	288	11	lm	lm	ADJ
aeasj-261	288	12	-	-	PUNCT
aeasj-261	288	13	stat	stat	NOUN
aeasj-261	288	14	prob	prob	NOUN
aeasj-261	288	15	1	1	NUM
aeasj-261	288	16	36.77971	36.77971	NUM
aeasj-261	288	17	0.9008	0.9008	NUM
aeasj-261	288	18	2	2	NUM
aeasj-261	288	19	47.05216	47.05216	NUM
aeasj-261	288	20	0.5524	0.5524	NUM
aeasj-261	289	1	*	*	PUNCT
aeasj-261	289	2	probs	prob	NOUN
aeasj-261	289	3	from	from	ADP
aeasj-261	289	4	chi	chi	NOUN
aeasj-261	289	5	-	-	PUNCT
aeasj-261	289	6	square	square	NOUN
aeasj-261	289	7	with	with	ADP
aeasj-261	289	8	49	49	NUM
aeasj-261	289	9	df	df	NOUN
aeasj-261	289	10	.	.	PUNCT
aeasj-261	290	1	*	*	PUNCT
aeasj-261	290	2	*	*	PUNCT
aeasj-261	290	3	null	null	ADJ
aeasj-261	290	4	hypothesis	hypothesis	NOUN
aeasj-261	290	5	:	:	PUNCT
aeasj-261	290	6	no	no	DET
aeasj-261	290	7	serial	serial	ADJ
aeasj-261	290	8	correlation	correlation	NOUN
aeasj-261	290	9	at	at	ADP
aeasj-261	290	10	lag	lag	NOUN
aeasj-261	290	11	order	order	NOUN
aeasj-261	290	12	h	h	NOUN
aeasj-261	290	13	source	source	NOUN
aeasj-261	290	14	:	:	PUNCT
aeasj-261	290	15	calculations	calculation	NOUN
aeasj-261	290	16	by	by	ADP
aeasj-261	290	17	authors	author	NOUN
aeasj-261	290	18	using	use	VERB
aeasj-261	290	19	eviews	eviews	PROPN
aeasj-261	290	20	9	9	NUM
aeasj-261	290	21	.	.	PUNCT
aeasj-261	291	1	the	the	DET
aeasj-261	291	2	serial	serial	ADJ
aeasj-261	291	3	correlation	correlation	NOUN
aeasj-261	291	4	lm	lm	INTJ
aeasj-261	291	5	test	test	NOUN
aeasj-261	291	6	result	result	NOUN
aeasj-261	291	7	of	of	ADP
aeasj-261	291	8	zero	zero	NUM
aeasj-261	291	9	probability	probability	NOUN
aeasj-261	291	10	value	value	NOUN
aeasj-261	291	11	indicates	indicate	VERB
aeasj-261	291	12	the	the	DET
aeasj-261	291	13	presence	presence	NOUN
aeasj-261	291	14	of	of	ADP
aeasj-261	291	15	serial	serial	ADJ
aeasj-261	291	16	correlation	correlation	NOUN
aeasj-261	291	17	while	while	SCONJ
aeasj-261	291	18	high	high	ADJ
aeasj-261	291	19	probability	probability	NOUN
aeasj-261	291	20	of	of	ADP
aeasj-261	291	21	the	the	DET
aeasj-261	291	22	lm	lm	PROPN
aeasj-261	291	23	statistic	statistic	NOUN
aeasj-261	291	24	indicates	indicate	VERB
aeasj-261	291	25	no	no	DET
aeasj-261	291	26	serial	serial	ADJ
aeasj-261	291	27	correlation	correlation	NOUN
aeasj-261	291	28	.	.	PUNCT
aeasj-261	292	1	in	in	ADP
aeasj-261	292	2	table	table	NOUN
aeasj-261	292	3	7	7	NUM
aeasj-261	292	4	the	the	DET
aeasj-261	292	5	probability	probability	NOUN
aeasj-261	292	6	of	of	ADP
aeasj-261	292	7	0.5524	0.5524	NUM
aeasj-261	292	8	at	at	ADP
aeasj-261	292	9	lag	lag	NOUN
aeasj-261	292	10	2	2	NUM
aeasj-261	292	11	is	be	AUX
aeasj-261	292	12	high	high	ADJ
aeasj-261	292	13	;	;	PUNCT
aeasj-261	292	14	therefore	therefore	ADV
aeasj-261	292	15	,	,	PUNCT
aeasj-261	292	16	the	the	DET
aeasj-261	292	17	null	null	ADJ
aeasj-261	292	18	hypothesis	hypothesis	NOUN
aeasj-261	292	19	is	be	AUX
aeasj-261	292	20	rejected	reject	VERB
aeasj-261	292	21	and	and	CCONJ
aeasj-261	292	22	concludes	conclude	VERB
aeasj-261	292	23	that	that	SCONJ
aeasj-261	292	24	there	there	PRON
aeasj-261	292	25	is	be	VERB
aeasj-261	292	26	no	no	DET
aeasj-261	292	27	serial	serial	ADJ
aeasj-261	292	28	correlation	correlation	NOUN
aeasj-261	292	29	among	among	ADP
aeasj-261	292	30	the	the	DET
aeasj-261	292	31	underlying	underlie	VERB
aeasj-261	292	32	variables	variable	NOUN
aeasj-261	292	33	.	.	PUNCT
aeasj-261	293	1	table	table	NOUN
aeasj-261	293	2	8	8	NUM
aeasj-261	293	3	:	:	PUNCT
aeasj-261	293	4	residual	residual	ADJ
aeasj-261	293	5	normality	normality	NOUN
aeasj-261	293	6	test	test	NOUN
aeasj-261	293	7	chi	chi	NOUN
aeasj-261	293	8	-	-	PUNCT
aeasj-261	293	9	sq	sq	ADJ
aeasj-261	293	10	p	p	NOUN
aeasj-261	293	11	value	value	NOUN
aeasj-261	293	12	skewness	skewness	NOUN
aeasj-261	293	13	0.365750	0.365750	NUM
aeasj-261	293	14	0.5453	0.5453	NUM
aeasj-261	293	15	kurtosis	kurtosis	VERB
aeasj-261	293	16	0.031476	0.031476	NUM
aeasj-261	293	17	0.8592	0.8592	NUM
aeasj-261	293	18	jarque	jarque	NOUN
aeasj-261	293	19	-	-	PUNCT
aeasj-261	293	20	bera	bera	NOUN
aeasj-261	293	21	0.397226	0.397226	NUM
aeasj-261	293	22	0.8199	0.8199	NUM
aeasj-261	293	23	*	*	PUNCT
aeasj-261	293	24	null	null	ADJ
aeasj-261	293	25	hypothesis	hypothesis	NOUN
aeasj-261	293	26	:	:	PUNCT
aeasj-261	293	27	residuals	residual	NOUN
aeasj-261	293	28	are	be	AUX
aeasj-261	293	29	multivariate	multivariate	ADJ
aeasj-261	293	30	normal	normal	ADJ
aeasj-261	293	31	source	source	NOUN
aeasj-261	293	32	:	:	PUNCT
aeasj-261	293	33	calculations	calculation	NOUN
aeasj-261	293	34	by	by	ADP
aeasj-261	293	35	authors	author	NOUN
aeasj-261	293	36	using	use	VERB
aeasj-261	293	37	eviews	eviews	PROPN
aeasj-261	293	38	9	9	NUM
aeasj-261	293	39	.	.	PUNCT
aeasj-261	293	40	table	table	NOUN
aeasj-261	293	41	8	8	NUM
aeasj-261	293	42	reveals	reveal	VERB
aeasj-261	293	43	a	a	DET
aeasj-261	293	44	clear	clear	ADJ
aeasj-261	293	45	indication	indication	NOUN
aeasj-261	293	46	of	of	ADP
aeasj-261	293	47	normal	normal	ADJ
aeasj-261	293	48	distribution	distribution	NOUN
aeasj-261	293	49	.	.	PUNCT
aeasj-261	294	1	this	this	PRON
aeasj-261	294	2	is	be	AUX
aeasj-261	294	3	because	because	SCONJ
aeasj-261	294	4	all	all	DET
aeasj-261	294	5	the	the	DET
aeasj-261	294	6	probabilities	probability	NOUN
aeasj-261	294	7	are	be	AUX
aeasj-261	294	8	above	above	ADP
aeasj-261	294	9	5	5	NUM
aeasj-261	294	10	%	%	NOUN
aeasj-261	294	11	and	and	CCONJ
aeasj-261	294	12	10	10	NUM
aeasj-261	294	13	%	%	NOUN
aeasj-261	294	14	,	,	PUNCT
aeasj-261	294	15	hence	hence	ADV
aeasj-261	294	16	the	the	DET
aeasj-261	294	17	null	null	ADJ
aeasj-261	294	18	hypothesis	hypothesis	NOUN
aeasj-261	294	19	of	of	ADP
aeasj-261	294	20	normality	normality	NOUN
aeasj-261	294	21	is	be	AUX
aeasj-261	294	22	rejected	reject	VERB
aeasj-261	294	23	.	.	PUNCT
aeasj-261	295	1	table	table	NOUN
aeasj-261	295	2	9	9	NUM
aeasj-261	295	3	:	:	PUNCT
aeasj-261	295	4	hetroscedasticity	hetroscedasticity	NOUN
aeasj-261	295	5	test	test	NOUN
aeasj-261	295	6	(	(	PUNCT
aeasj-261	295	7	white	white	ADJ
aeasj-261	295	8	test	test	NOUN
aeasj-261	295	9	with	with	ADP
aeasj-261	295	10	no	no	DET
aeasj-261	295	11	cross	cross	NOUN
aeasj-261	295	12	terms	term	NOUN
aeasj-261	295	13	)	)	PUNCT
aeasj-261	295	14	joint	joint	ADJ
aeasj-261	295	15	test	test	NOUN
aeasj-261	295	16	:	:	PUNCT
aeasj-261	295	17	chi	chi	ADJ
aeasj-261	295	18	-	-	PUNCT
aeasj-261	295	19	sq	sq	ADJ
aeasj-261	295	20	df	df	PROPN
aeasj-261	295	21	prob	prob	PROPN
aeasj-261	295	22	.	.	PUNCT
aeasj-261	296	1	866.9252	866.9252	NUM
aeasj-261	296	2	840	840	NUM
aeasj-261	296	3	0.2526	0.2526	NUM
aeasj-261	296	4	*	*	PUNCT
aeasj-261	296	5	the	the	DET
aeasj-261	296	6	null	null	ADJ
aeasj-261	296	7	hypothesis	hypothesis	NOUN
aeasj-261	296	8	:	:	PUNCT
aeasj-261	296	9	there	there	PRON
aeasj-261	296	10	is	be	VERB
aeasj-261	296	11	no	no	DET
aeasj-261	296	12	heteroskedesticity	heteroskedesticity	NOUN
aeasj-261	296	13	source	source	NOUN
aeasj-261	296	14	:	:	PUNCT
aeasj-261	296	15	calculations	calculation	NOUN
aeasj-261	296	16	by	by	ADP
aeasj-261	296	17	authors	author	NOUN
aeasj-261	296	18	using	use	VERB
aeasj-261	296	19	eviews	eviews	PROPN
aeasj-261	296	20	9	9	NUM
aeasj-261	296	21	.	.	PUNCT
aeasj-261	296	22	table	table	NOUN
aeasj-261	296	23	9	9	NUM
aeasj-261	296	24	shows	show	VERB
aeasj-261	296	25	that	that	SCONJ
aeasj-261	296	26	the	the	DET
aeasj-261	296	27	null	null	ADJ
aeasj-261	296	28	hypothesis	hypothesis	NOUN
aeasj-261	296	29	can	can	AUX
aeasj-261	296	30	not	not	PART
aeasj-261	296	31	be	be	AUX
aeasj-261	296	32	rejected	reject	VERB
aeasj-261	296	33	since	since	SCONJ
aeasj-261	296	34	the	the	DET
aeasj-261	296	35	probability	probability	NOUN
aeasj-261	296	36	(	(	PUNCT
aeasj-261	296	37	0.2526	0.2526	NUM
aeasj-261	296	38	)	)	PUNCT
aeasj-261	296	39	is	be	AUX
aeasj-261	296	40	greater	great	ADJ
aeasj-261	296	41	than	than	ADP
aeasj-261	296	42	5	5	NUM
aeasj-261	296	43	%	%	NOUN
aeasj-261	296	44	and	and	CCONJ
aeasj-261	296	45	10	10	NUM
aeasj-261	296	46	%	%	NOUN
aeasj-261	296	47	.	.	PUNCT
aeasj-261	297	1	this	this	PRON
aeasj-261	297	2	,	,	PUNCT
aeasj-261	297	3	therefore	therefore	ADV
aeasj-261	297	4	,	,	PUNCT
aeasj-261	297	5	means	mean	VERB
aeasj-261	297	6	that	that	SCONJ
aeasj-261	297	7	there	there	PRON
aeasj-261	297	8	is	be	VERB
aeasj-261	297	9	no	no	DET
aeasj-261	297	10	model	model	NOUN
aeasj-261	297	11	misspecifications	misspecification	NOUN
aeasj-261	297	12	and	and	CCONJ
aeasj-261	297	13	hence	hence	ADV
aeasj-261	297	14	can	can	AUX
aeasj-261	297	15	be	be	AUX
aeasj-261	297	16	relied	rely	VERB
aeasj-261	297	17	on	on	ADP
aeasj-261	297	18	.	.	PUNCT
aeasj-261	298	1	4.5	4.5	NUM
aeasj-261	298	2	economic	economic	ADJ
aeasj-261	298	3	growth	growth	NOUN
aeasj-261	298	4	effects	effect	NOUN
aeasj-261	298	5	of	of	ADP
aeasj-261	298	6	financial	financial	ADJ
aeasj-261	298	7	structure	structure	NOUN
aeasj-261	298	8	this	this	PRON
aeasj-261	298	9	sub	sub	ADJ
aeasj-261	298	10	-	-	NOUN
aeasj-261	298	11	section	section	NOUN
aeasj-261	298	12	examines	examine	VERB
aeasj-261	298	13	the	the	DET
aeasj-261	298	14	effect	effect	NOUN
aeasj-261	298	15	of	of	ADP
aeasj-261	298	16	financial	financial	ADJ
aeasj-261	298	17	structure	structure	NOUN
aeasj-261	298	18	(	(	PUNCT
aeasj-261	298	19	the	the	DET
aeasj-261	298	20	overall	overall	ADJ
aeasj-261	298	21	financial	financial	ADJ
aeasj-261	298	22	system	system	NOUN
aeasj-261	298	23	)	)	PUNCT
aeasj-261	298	24	on	on	ADP
aeasj-261	298	25	growth	growth	NOUN
aeasj-261	298	26	.	.	PUNCT
aeasj-261	299	1	table	table	NOUN
aeasj-261	299	2	10	10	NUM
aeasj-261	299	3	shows	show	VERB
aeasj-261	299	4	the	the	DET
aeasj-261	299	5	result	result	NOUN
aeasj-261	299	6	.	.	PUNCT
aeasj-261	300	1	table	table	NOUN
aeasj-261	300	2	10	10	NUM
aeasj-261	300	3	:	:	PUNCT
aeasj-261	300	4	long	long	ADJ
aeasj-261	300	5	run	run	NOUN
aeasj-261	300	6	model	model	NOUN
aeasj-261	300	7	effect	effect	NOUN
aeasj-261	300	8	of	of	ADP
aeasj-261	300	9	financial	financial	ADJ
aeasj-261	300	10	structure	structure	NOUN
aeasj-261	300	11	on	on	ADP
aeasj-261	300	12	economic	economic	ADJ
aeasj-261	300	13	growth	growth	NOUN
aeasj-261	300	14	variable	variable	ADJ
aeasj-261	300	15	coefficient	coefficient	NOUN
aeasj-261	300	16	standard	standard	ADJ
aeasj-261	300	17	error	error	NOUN
aeasj-261	300	18	t	t	PROPN
aeasj-261	300	19	-	-	PUNCT
aeasj-261	300	20	statistics	statistic	NOUN
aeasj-261	301	1	c	c	NOUN
aeasj-261	301	2	-2.162760	-2.162760	NOUN
aeasj-261	301	3	glf	glf	PROPN
aeasj-261	301	4	-15.28466	-15.28466	NUM
aeasj-261	301	5	4.31484	4.31484	NUM
aeasj-261	301	6	-3.54235	-3.54235	NOUN
aeasj-261	301	7	*	*	NOUN
aeasj-261	301	8	*	*	PUNCT
aeasj-261	301	9	ldi	ldi	PROPN
aeasj-261	301	10	10.65363	10.65363	NUM
aeasj-261	301	11	1.28779	1.28779	NUM
aeasj-261	301	12	8.27280	8.27280	NUM
aeasj-261	301	13	*	*	PUNCT
aeasj-261	301	14	fs_r	fs_r	PROPN
aeasj-261	301	15	222.2282	222.2282	NUM
aeasj-261	301	16	57.9683	57.9683	NUM
aeasj-261	301	17	3.83362	3.83362	NUM
aeasj-261	301	18	*	*	PUNCT
aeasj-261	301	19	*	*	NOUN
aeasj-261	301	20	ltgex_r	ltgex_r	NOUN
aeasj-261	301	21	0.122002	0.122002	NUM
aeasj-261	302	1	1.41658	1.41658	NUM
aeasj-261	302	2	0.08612	0.08612	NUM
aeasj-261	302	3	openn	openn	NOUN
aeasj-261	302	4	10.81927	10.81927	NUM
aeasj-261	302	5	2.88405	2.88405	NUM
aeasj-261	302	6	3.75142	3.75142	NUM
aeasj-261	302	7	*	*	PUNCT
aeasj-261	302	8	*	*	PROPN
aeasj-261	302	9	inf	inf	ADJ
aeasj-261	302	10	-0.036314	-0.036314	NOUN
aeasj-261	302	11	0.01505	0.01505	NUM
aeasj-261	302	12	-2.41233	-2.41233	NOUN
aeasj-261	302	13	*	*	PUNCT
aeasj-261	302	14	*	*	NOUN
aeasj-261	302	15	note	note	NOUN
aeasj-261	302	16	.	.	PUNCT
aeasj-261	303	1	*	*	PUNCT
aeasj-261	303	2	(	(	PUNCT
aeasj-261	303	3	*	*	PUNCT
aeasj-261	303	4	*	*	PUNCT
aeasj-261	303	5	)	)	PUNCT
aeasj-261	303	6	indicate	indicate	VERB
aeasj-261	303	7	significance	significance	NOUN
aeasj-261	303	8	at	at	ADP
aeasj-261	303	9	1	1	NUM
aeasj-261	303	10	%	%	NOUN
aeasj-261	303	11	(	(	PUNCT
aeasj-261	303	12	5	5	NUM
aeasj-261	303	13	%	%	NOUN
aeasj-261	303	14	)	)	PUNCT
aeasj-261	303	15	source	source	NOUN
aeasj-261	303	16	:	:	PUNCT
aeasj-261	303	17	calculations	calculation	NOUN
aeasj-261	303	18	by	by	ADP
aeasj-261	303	19	authors	author	NOUN
aeasj-261	303	20	using	use	VERB
aeasj-261	303	21	eviews	eviews	PROPN
aeasj-261	303	22	9	9	NUM
aeasj-261	303	23	.	.	PUNCT
aeasj-261	304	1	copyright	copyright	NOUN
aeasj-261	304	2	©	©	PROPN
aeasj-261	304	3	cc	cc	PROPN
aeasj-261	304	4	-	-	PUNCT
aeasj-261	304	5	by	by	ADP
aeasj-261	304	6	-	-	PUNCT
aeasj-261	304	7	nc	nc	PROPN
aeasj-261	304	8	2019	2019	NUM
aeasj-261	304	9	,	,	PUNCT
aeasj-261	304	10	cribfb	cribfb	PROPN
aeasj-261	304	11	|	|	ADV
aeasj-261	304	12	afbr	afbr	PROPN
aeasj-261	304	13	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	304	14	american	american	PROPN
aeasj-261	304	15	economic	economic	PROPN
aeasj-261	304	16	&	&	CCONJ
aeasj-261	304	17	social	social	PROPN
aeasj-261	304	18	review	review	PROPN
aeasj-261	304	19	vol	vol	NOUN
aeasj-261	304	20	.	.	PROPN
aeasj-261	305	1	5	5	NUM
aeasj-261	305	2	,	,	PUNCT
aeasj-261	305	3	no	no	INTJ
aeasj-261	305	4	.	.	NOUN
aeasj-261	305	5	1	1	NUM
aeasj-261	305	6	;	;	PUNCT
aeasj-261	306	1	2019	2019	NUM
aeasj-261	306	2	44	44	NUM
aeasj-261	306	3	from	from	ADP
aeasj-261	306	4	table	table	NOUN
aeasj-261	306	5	10	10	NUM
aeasj-261	306	6	,	,	PUNCT
aeasj-261	306	7	financial	financial	ADJ
aeasj-261	306	8	structure	structure	NOUN
aeasj-261	306	9	(	(	PUNCT
aeasj-261	306	10	fs_r	fs_r	NOUN
aeasj-261	306	11	)	)	PUNCT
aeasj-261	306	12	is	be	AUX
aeasj-261	306	13	positively	positively	ADV
aeasj-261	306	14	and	and	CCONJ
aeasj-261	306	15	significantly	significantly	ADV
aeasj-261	306	16	related	relate	VERB
aeasj-261	306	17	to	to	ADP
aeasj-261	306	18	economic	economic	ADJ
aeasj-261	306	19	growth	growth	NOUN
aeasj-261	306	20	in	in	ADP
aeasj-261	306	21	nigeria	nigeria	PROPN
aeasj-261	306	22	in	in	ADP
aeasj-261	306	23	the	the	DET
aeasj-261	306	24	long	long	ADJ
aeasj-261	306	25	run	run	NOUN
aeasj-261	306	26	.	.	PUNCT
aeasj-261	307	1	theoretically	theoretically	ADV
aeasj-261	307	2	,	,	PUNCT
aeasj-261	307	3	the	the	DET
aeasj-261	307	4	result	result	NOUN
aeasj-261	307	5	is	be	AUX
aeasj-261	307	6	consistent	consistent	ADJ
aeasj-261	307	7	with	with	ADP
aeasj-261	307	8	the	the	DET
aeasj-261	307	9	market	market	NOUN
aeasj-261	307	10	-	-	PUNCT
aeasj-261	307	11	based	base	VERB
aeasj-261	307	12	view	view	NOUN
aeasj-261	307	13	.	.	PUNCT
aeasj-261	308	1	higher	high	ADJ
aeasj-261	308	2	coefficient	coefficient	NOUN
aeasj-261	308	3	(	(	PUNCT
aeasj-261	308	4	222.2	222.2	NUM
aeasj-261	308	5	)	)	PUNCT
aeasj-261	308	6	of	of	ADP
aeasj-261	308	7	fs_r	fs_r	PROPN
aeasj-261	308	8	means	mean	VERB
aeasj-261	308	9	a	a	DET
aeasj-261	308	10	system	system	NOUN
aeasj-261	308	11	that	that	PRON
aeasj-261	308	12	is	be	AUX
aeasj-261	308	13	capital	capital	NOUN
aeasj-261	308	14	market	market	NOUN
aeasj-261	308	15	-	-	PUNCT
aeasj-261	308	16	based	base	VERB
aeasj-261	308	17	dominant	dominant	NOUN
aeasj-261	308	18	while	while	SCONJ
aeasj-261	308	19	a	a	DET
aeasj-261	308	20	lower	low	ADJ
aeasj-261	308	21	fs_r	fs_r	PROPN
aeasj-261	308	22	coefficient	coefficient	NOUN
aeasj-261	308	23	means	mean	VERB
aeasj-261	308	24	more	more	ADJ
aeasj-261	308	25	of	of	ADP
aeasj-261	308	26	a	a	DET
aeasj-261	308	27	bank	bank	NOUN
aeasj-261	308	28	-	-	PUNCT
aeasj-261	308	29	based	base	VERB
aeasj-261	308	30	system	system	NOUN
aeasj-261	308	31	(	(	PUNCT
aeasj-261	308	32	olofin	olofin	NOUN
aeasj-261	308	33	and	and	CCONJ
aeasj-261	308	34	afangideh	afangideh	NOUN
aeasj-261	308	35	,	,	PUNCT
aeasj-261	308	36	2009	2009	NUM
aeasj-261	308	37	)	)	PUNCT
aeasj-261	308	38	.	.	PUNCT
aeasj-261	309	1	the	the	DET
aeasj-261	309	2	stock	stock	NOUN
aeasj-261	309	3	market	market	NOUN
aeasj-261	309	4	based	base	VERB
aeasj-261	309	5	view	view	NOUN
aeasj-261	309	6	posits	posit	VERB
aeasj-261	309	7	a	a	DET
aeasj-261	309	8	significant	significant	ADJ
aeasj-261	309	9	positive	positive	ADJ
aeasj-261	309	10	relationship	relationship	NOUN
aeasj-261	309	11	between	between	ADP
aeasj-261	309	12	financial	financial	ADJ
aeasj-261	309	13	structure	structure	NOUN
aeasj-261	309	14	(	(	PUNCT
aeasj-261	309	15	fs_r	fs_r	NOUN
aeasj-261	309	16	)	)	PUNCT
aeasj-261	309	17	and	and	CCONJ
aeasj-261	309	18	economic	economic	ADJ
aeasj-261	309	19	growth	growth	NOUN
aeasj-261	309	20	while	while	SCONJ
aeasj-261	309	21	the	the	DET
aeasj-261	309	22	bank	bank	NOUN
aeasj-261	309	23	-	-	PUNCT
aeasj-261	309	24	based	base	VERB
aeasj-261	309	25	view	view	NOUN
aeasj-261	309	26	predicts	predict	VERB
aeasj-261	309	27	a	a	DET
aeasj-261	309	28	negative	negative	ADJ
aeasj-261	309	29	significance	significance	NOUN
aeasj-261	309	30	relationship	relationship	NOUN
aeasj-261	309	31	between	between	ADP
aeasj-261	309	32	financial	financial	ADJ
aeasj-261	309	33	structure	structure	NOUN
aeasj-261	309	34	(	(	PUNCT
aeasj-261	309	35	fs_r	fs_r	NOUN
aeasj-261	309	36	)	)	PUNCT
aeasj-261	309	37	and	and	CCONJ
aeasj-261	309	38	economic	economic	ADJ
aeasj-261	309	39	growth	growth	NOUN
aeasj-261	309	40	.	.	PUNCT
aeasj-261	310	1	it	it	PRON
aeasj-261	310	2	is	be	AUX
aeasj-261	310	3	important	important	ADJ
aeasj-261	310	4	to	to	PART
aeasj-261	310	5	note	note	VERB
aeasj-261	310	6	that	that	SCONJ
aeasj-261	310	7	stock	stock	NOUN
aeasj-261	310	8	market	market	NOUN
aeasj-261	310	9	liquidity	liquidity	NOUN
aeasj-261	310	10	,	,	PUNCT
aeasj-261	310	11	as	as	SCONJ
aeasj-261	310	12	measured	measure	VERB
aeasj-261	310	13	by	by	ADP
aeasj-261	310	14	the	the	DET
aeasj-261	310	15	market	market	NOUN
aeasj-261	310	16	capitalization	capitalization	NOUN
aeasj-261	310	17	and	and	CCONJ
aeasj-261	310	18	banking	banking	NOUN
aeasj-261	310	19	sector	sector	NOUN
aeasj-261	310	20	activity	activity	NOUN
aeasj-261	310	21	,	,	PUNCT
aeasj-261	310	22	as	as	SCONJ
aeasj-261	310	23	measured	measure	VERB
aeasj-261	310	24	by	by	ADP
aeasj-261	310	25	bank	bank	NOUN
aeasj-261	310	26	credit	credit	NOUN
aeasj-261	310	27	to	to	ADP
aeasj-261	310	28	private	private	ADJ
aeasj-261	310	29	sector	sector	NOUN
aeasj-261	310	30	are	be	AUX
aeasj-261	310	31	more	more	ADV
aeasj-261	310	32	robust	robust	ADJ
aeasj-261	310	33	in	in	ADP
aeasj-261	310	34	predicting	predict	VERB
aeasj-261	310	35	economic	economic	ADJ
aeasj-261	310	36	growth	growth	NOUN
aeasj-261	310	37	.	.	PUNCT
aeasj-261	311	1	this	this	PRON
aeasj-261	311	2	is	be	AUX
aeasj-261	311	3	inconsistent	inconsistent	ADJ
aeasj-261	311	4	with	with	ADP
aeasj-261	311	5	the	the	DET
aeasj-261	311	6	levine	levine	PROPN
aeasj-261	311	7	and	and	CCONJ
aeasj-261	311	8	zervos	zervos	PROPN
aeasj-261	311	9	(	(	PUNCT
aeasj-261	311	10	1998	1998	NUM
aeasj-261	311	11	)	)	PUNCT
aeasj-261	311	12	and	and	CCONJ
aeasj-261	311	13	saibu	saibu	VERB
aeasj-261	311	14	et	et	PROPN
aeasj-261	311	15	al	al	PROPN
aeasj-261	311	16	,	,	PUNCT
aeasj-261	311	17	(	(	PUNCT
aeasj-261	311	18	2009	2009	NUM
aeasj-261	311	19	)	)	PUNCT
aeasj-261	311	20	results	result	VERB
aeasj-261	311	21	that	that	SCONJ
aeasj-261	311	22	market	market	NOUN
aeasj-261	311	23	capitalization	capitalization	NOUN
aeasj-261	311	24	is	be	AUX
aeasj-261	311	25	not	not	PART
aeasj-261	311	26	a	a	DET
aeasj-261	311	27	robust	robust	ADJ
aeasj-261	311	28	predictor	predictor	NOUN
aeasj-261	311	29	of	of	ADP
aeasj-261	311	30	economic	economic	ADJ
aeasj-261	311	31	growth	growth	NOUN
aeasj-261	311	32	.	.	PUNCT
aeasj-261	312	1	consequently	consequently	ADV
aeasj-261	312	2	,	,	PUNCT
aeasj-261	312	3	the	the	DET
aeasj-261	312	4	debate	debate	NOUN
aeasj-261	312	5	between	between	ADP
aeasj-261	312	6	bank	bank	NOUN
aeasj-261	312	7	based	base	VERB
aeasj-261	312	8	and	and	CCONJ
aeasj-261	312	9	market	market	NOUN
aeasj-261	312	10	based	base	VERB
aeasj-261	312	11	is	be	AUX
aeasj-261	312	12	not	not	PART
aeasj-261	312	13	a	a	DET
aeasj-261	312	14	nigerian	nigerian	ADJ
aeasj-261	312	15	phenomenon	phenomenon	NOUN
aeasj-261	312	16	.	.	PUNCT
aeasj-261	313	1	however	however	ADV
aeasj-261	313	2	,	,	PUNCT
aeasj-261	313	3	for	for	ADP
aeasj-261	313	4	the	the	DET
aeasj-261	313	5	purposes	purpose	NOUN
aeasj-261	313	6	of	of	ADP
aeasj-261	313	7	this	this	DET
aeasj-261	313	8	study	study	NOUN
aeasj-261	313	9	,	,	PUNCT
aeasj-261	313	10	it	it	PRON
aeasj-261	313	11	is	be	AUX
aeasj-261	313	12	important	important	ADJ
aeasj-261	313	13	to	to	PART
aeasj-261	313	14	focus	focus	VERB
aeasj-261	313	15	on	on	ADP
aeasj-261	313	16	the	the	DET
aeasj-261	313	17	significance	significance	NOUN
aeasj-261	313	18	or	or	CCONJ
aeasj-261	313	19	otherwise	otherwise	ADV
aeasj-261	313	20	of	of	ADP
aeasj-261	313	21	the	the	DET
aeasj-261	313	22	coefficient	coefficient	NOUN
aeasj-261	313	23	of	of	ADP
aeasj-261	313	24	fs_r	fs_r	PROPN
aeasj-261	313	25	,	,	PUNCT
aeasj-261	313	26	rather	rather	ADV
aeasj-261	313	27	than	than	ADP
aeasj-261	313	28	its	its	PRON
aeasj-261	313	29	sign	sign	NOUN
aeasj-261	313	30	(	(	PUNCT
aeasj-261	313	31	arestis	arestis	PROPN
aeasj-261	313	32	et	et	PROPN
aeasj-261	313	33	al	al	PROPN
aeasj-261	313	34	,	,	PUNCT
aeasj-261	313	35	2004	2004	NUM
aeasj-261	313	36	and	and	CCONJ
aeasj-261	313	37	olofin	olofin	NOUN
aeasj-261	313	38	and	and	CCONJ
aeasj-261	313	39	afangideh	afangideh	NOUN
aeasj-261	313	40	,	,	PUNCT
aeasj-261	313	41	2009	2009	NUM
aeasj-261	313	42	)	)	PUNCT
aeasj-261	313	43	.	.	PUNCT
aeasj-261	314	1	a	a	DET
aeasj-261	314	2	significant	significant	ADJ
aeasj-261	314	3	coefficient	coefficient	NOUN
aeasj-261	314	4	of	of	ADP
aeasj-261	314	5	fs_r	fs_r	PROPN
aeasj-261	314	6	implies	imply	VERB
aeasj-261	314	7	that	that	SCONJ
aeasj-261	314	8	financial	financial	ADJ
aeasj-261	314	9	structure	structure	NOUN
aeasj-261	314	10	matters	matter	NOUN
aeasj-261	314	11	while	while	SCONJ
aeasj-261	314	12	the	the	DET
aeasj-261	314	13	reverse	reverse	NOUN
aeasj-261	314	14	is	be	AUX
aeasj-261	314	15	the	the	DET
aeasj-261	314	16	case	case	NOUN
aeasj-261	314	17	.	.	PUNCT
aeasj-261	315	1	the	the	DET
aeasj-261	315	2	result	result	NOUN
aeasj-261	315	3	posits	posit	NOUN
aeasj-261	315	4	that	that	SCONJ
aeasj-261	315	5	the	the	DET
aeasj-261	315	6	overall	overall	ADJ
aeasj-261	315	7	financial	financial	ADJ
aeasj-261	315	8	structure	structure	NOUN
aeasj-261	315	9	(	(	PUNCT
aeasj-261	315	10	fs_r	fs_r	NOUN
aeasj-261	315	11	)	)	PUNCT
aeasj-261	315	12	is	be	AUX
aeasj-261	315	13	the	the	DET
aeasj-261	315	14	most	most	ADV
aeasj-261	315	15	useful	useful	ADJ
aeasj-261	315	16	way	way	NOUN
aeasj-261	315	17	to	to	PART
aeasj-261	315	18	distinguish	distinguish	VERB
aeasj-261	315	19	financial	financial	ADJ
aeasj-261	315	20	systems	system	NOUN
aeasj-261	315	21	(	(	PUNCT
aeasj-261	315	22	levine	levine	PROPN
aeasj-261	315	23	,	,	PUNCT
aeasj-261	315	24	2002	2002	NUM
aeasj-261	315	25	)	)	PUNCT
aeasj-261	315	26	since	since	SCONJ
aeasj-261	315	27	both	both	PRON
aeasj-261	315	28	bank	bank	NOUN
aeasj-261	315	29	and	and	CCONJ
aeasj-261	315	30	stock	stock	NOUN
aeasj-261	315	31	market	market	NOUN
aeasj-261	315	32	system	system	NOUN
aeasj-261	315	33	matter	matter	NOUN
aeasj-261	315	34	in	in	ADP
aeasj-261	315	35	explaining	explain	VERB
aeasj-261	315	36	economic	economic	ADJ
aeasj-261	315	37	growth	growth	NOUN
aeasj-261	315	38	as	as	ADP
aeasj-261	315	39	against	against	ADP
aeasj-261	315	40	bank	bank	NOUN
aeasj-261	315	41	-	-	PUNCT
aeasj-261	315	42	based	base	VERB
aeasj-261	315	43	versus	versus	ADP
aeasj-261	315	44	market	market	NOUN
aeasj-261	315	45	-	-	PUNCT
aeasj-261	315	46	based	base	VERB
aeasj-261	315	47	debate	debate	NOUN
aeasj-261	315	48	.	.	PUNCT
aeasj-261	316	1	this	this	PRON
aeasj-261	316	2	is	be	AUX
aeasj-261	316	3	consistent	consistent	ADJ
aeasj-261	316	4	with	with	ADP
aeasj-261	316	5	financial	financial	ADJ
aeasj-261	316	6	services	service	NOUN
aeasj-261	316	7	theory	theory	NOUN
aeasj-261	316	8	as	as	ADV
aeasj-261	316	9	well	well	ADV
aeasj-261	316	10	as	as	ADP
aeasj-261	316	11	olofin	olofin	NOUN
aeasj-261	316	12	and	and	CCONJ
aeasj-261	316	13	afangideh	afangideh	NOUN
aeasj-261	316	14	(	(	PUNCT
aeasj-261	316	15	2009	2009	NUM
aeasj-261	316	16	)	)	PUNCT
aeasj-261	316	17	but	but	CCONJ
aeasj-261	316	18	inconsistent	inconsistent	ADJ
aeasj-261	316	19	with	with	ADP
aeasj-261	316	20	saibu	saibu	PROPN
aeasj-261	316	21	et	et	PROPN
aeasj-261	316	22	al	al	PROPN
aeasj-261	316	23	,	,	PUNCT
aeasj-261	316	24	(	(	PUNCT
aeasj-261	316	25	2009	2009	NUM
aeasj-261	316	26	)	)	PUNCT
aeasj-261	316	27	.	.	PUNCT
aeasj-261	317	1	table	table	NOUN
aeasj-261	317	2	11	11	NUM
aeasj-261	317	3	:	:	PUNCT
aeasj-261	317	4	multivariate	multivariate	NOUN
aeasj-261	317	5	vecm	vecm	NOUN
aeasj-261	317	6	causality	causality	NOUN
aeasj-261	317	7	test	test	NOUN
aeasj-261	317	8	(	(	PUNCT
aeasj-261	317	9	short	short	ADJ
aeasj-261	317	10	term	term	NOUN
aeasj-261	317	11	)	)	PUNCT
aeasj-261	317	12	dependent	dependent	ADJ
aeasj-261	317	13	variable	variable	ADJ
aeasj-261	317	14	independent	independent	ADJ
aeasj-261	317	15	variable	variable	ADJ
aeasj-261	317	16	ect(-1	ect(-1	PROPN
aeasj-261	317	17	)	)	PUNCT
aeasj-261	317	18	d(lrgd	d(lrgd	NOUN
aeasj-261	317	19	p	p	X
aeasj-261	317	20	)	)	PUNCT
aeasj-261	317	21	d(glf	d(glf	ADJ
aeasj-261	317	22	)	)	PUNCT
aeasj-261	317	23	d(ldi	d(ldi	NOUN
aeasj-261	317	24	)	)	PUNCT
aeasj-261	317	25	d(fs_r	d(fs_r	PROPN
aeasj-261	317	26	)	)	PUNCT
aeasj-261	318	1	d(ltgex	d(ltgex	PROPN
aeasj-261	318	2	_	_	PUNCT
aeasj-261	318	3	r	r	NOUN
aeasj-261	318	4	)	)	PUNCT
aeasj-261	318	5	d(openn	d(openn	NOUN
aeasj-261	318	6	)	)	PUNCT
aeasj-261	318	7	d(inf	d(inf	NOUN
aeasj-261	318	8	)	)	PUNCT
aeasj-261	318	9	d(lrgdp	d(lrgdp	NOUN
aeasj-261	318	10	)	)	PUNCT
aeasj-261	319	1	0.36350	0.36350	NUM
aeasj-261	319	2	4	4	NUM
aeasj-261	319	3	0.4650	0.4650	NUM
aeasj-261	319	4	08	08	NUM
aeasj-261	319	5	1.2251	1.2251	NUM
aeasj-261	319	6	23	23	NUM
aeasj-261	320	1	0.054826	0.054826	NUM
aeasj-261	320	2	0.042555	0.042555	NUM
aeasj-261	320	3	1.48960	1.48960	NUM
aeasj-261	320	4	4	4	NUM
aeasj-261	320	5	0.007709	0.007709	NUM
aeasj-261	320	6	*	*	PUNCT
aeasj-261	320	7	*	*	PUNCT
aeasj-261	320	8	d(glf	d(glf	ADJ
aeasj-261	320	9	)	)	PUNCT
aeasj-261	320	10	1.31572	1.31572	NUM
aeasj-261	320	11	6	6	NUM
aeasj-261	320	12	0.1078	0.1078	NUM
aeasj-261	320	13	69	69	NUM
aeasj-261	320	14	0.63850	0.63850	NUM
aeasj-261	320	15	2	2	NUM
aeasj-261	320	16	0.001995	0.001995	NUM
aeasj-261	320	17	0.028172	0.028172	NUM
aeasj-261	320	18	0.070575	0.070575	NUM
aeasj-261	320	19	0.003715	0.003715	NUM
aeasj-261	320	20	d(ldi	d(ldi	NOUN
aeasj-261	320	21	)	)	PUNCT
aeasj-261	320	22	3.20862	3.20862	NUM
aeasj-261	320	23	4	4	NUM
aeasj-261	320	24	*	*	PUNCT
aeasj-261	320	25	*	*	PUNCT
aeasj-261	320	26	0.4935	0.4935	NUM
aeasj-261	320	27	29	29	NUM
aeasj-261	320	28	2.09791	2.09791	NUM
aeasj-261	320	29	6	6	NUM
aeasj-261	320	30	0.048394	0.048394	NUM
aeasj-261	320	31	1.121156	1.121156	NUM
aeasj-261	320	32	0.71310	0.71310	NUM
aeasj-261	320	33	6	6	NUM
aeasj-261	320	34	0.033223	0.033223	NUM
aeasj-261	320	35	*	*	PUNCT
aeasj-261	320	36	*	*	PUNCT
aeasj-261	320	37	*	*	PUNCT
aeasj-261	320	38	d(fs_r	d(fs_r	NUM
aeasj-261	320	39	)	)	PUNCT
aeasj-261	320	40	2.42873	2.42873	NUM
aeasj-261	320	41	8	8	NUM
aeasj-261	320	42	0.6860	0.6860	NUM
aeasj-261	320	43	79	79	NUM
aeasj-261	320	44	2.52315	2.52315	NUM
aeasj-261	320	45	4	4	NUM
aeasj-261	320	46	3.421969	3.421969	NUM
aeasj-261	320	47	*	*	PUNCT
aeasj-261	320	48	*	*	PUNCT
aeasj-261	320	49	1.738158	1.738158	NUM
aeasj-261	320	50	1.07702	1.07702	NUM
aeasj-261	320	51	4	4	NUM
aeasj-261	320	52	0.001157	0.001157	NUM
aeasj-261	320	53	*	*	PUNCT
aeasj-261	320	54	*	*	PUNCT
aeasj-261	321	1	d(ltgex	d(ltgex	NOUN
aeasj-261	321	2	_	_	PUNCT
aeasj-261	321	3	r	r	X
aeasj-261	321	4	)	)	PUNCT
aeasj-261	321	5	0.12928	0.12928	NUM
aeasj-261	321	6	6	6	NUM
aeasj-261	321	7	0.2004	0.2004	NUM
aeasj-261	321	8	66	66	NUM
aeasj-261	321	9	0.3417	0.3417	NUM
aeasj-261	321	10	08	08	NUM
aeasj-261	321	11	0.03394	0.03394	NUM
aeasj-261	321	12	8	8	NUM
aeasj-261	321	13	0.033132	0.033132	NUM
aeasj-261	321	14	0.00229	0.00229	NUM
aeasj-261	321	15	4	4	NUM
aeasj-261	321	16	-0.008095	-0.008095	NOUN
aeasj-261	321	17	d(openn	d(openn	NOUN
aeasj-261	321	18	)	)	PUNCT
aeasj-261	321	19	3.18415	3.18415	NUM
aeasj-261	321	20	2	2	NUM
aeasj-261	321	21	*	*	SYM
aeasj-261	321	22	*	*	PUNCT
aeasj-261	322	1	2.5516	2.5516	NUM
aeasj-261	322	2	27	27	NUM
aeasj-261	322	3	0.8235	0.8235	NUM
aeasj-261	322	4	14	14	NUM
aeasj-261	322	5	0.3269	0.3269	NUM
aeasj-261	322	6	07	07	NUM
aeasj-261	322	7	4.764959	4.764959	NUM
aeasj-261	322	8	*	*	PUNCT
aeasj-261	322	9	*	*	PUNCT
aeasj-261	322	10	2.74369	2.74369	NUM
aeasj-261	322	11	5	5	NUM
aeasj-261	322	12	*	*	NOUN
aeasj-261	322	13	*	*	NOUN
aeasj-261	322	14	0.030222	0.030222	NUM
aeasj-261	322	15	*	*	PUNCT
aeasj-261	322	16	*	*	PUNCT
aeasj-261	322	17	d(inf	d(inf	ADJ
aeasj-261	322	18	)	)	PUNCT
aeasj-261	322	19	0.11706	0.11706	NUM
aeasj-261	322	20	2	2	NUM
aeasj-261	322	21	0.4068	0.4068	NUM
aeasj-261	322	22	42	42	NUM
aeasj-261	322	23	0.44641	0.44641	NUM
aeasj-261	322	24	2	2	NUM
aeasj-261	322	25	0.6803	0.6803	NUM
aeasj-261	322	26	21	21	NUM
aeasj-261	322	27	0.702241	0.702241	NUM
aeasj-261	322	28	0.233062	0.233062	NUM
aeasj-261	322	29	2.156642	2.156642	NUM
aeasj-261	322	30	*	*	PUNCT
aeasj-261	322	31	significant	significant	ADJ
aeasj-261	322	32	at	at	ADP
aeasj-261	322	33	1	1	NUM
aeasj-261	322	34	%	%	NOUN
aeasj-261	322	35	,	,	PUNCT
aeasj-261	322	36	*	*	PUNCT
aeasj-261	322	37	*	*	PUNCT
aeasj-261	322	38	significant	significant	ADJ
aeasj-261	322	39	at	at	ADP
aeasj-261	322	40	5	5	NUM
aeasj-261	322	41	%	%	NOUN
aeasj-261	322	42	and	and	CCONJ
aeasj-261	322	43	*	*	NOUN
aeasj-261	322	44	*	*	PUNCT
aeasj-261	322	45	*	*	VERB
aeasj-261	322	46	significant	significant	ADJ
aeasj-261	322	47	at	at	ADP
aeasj-261	322	48	5	5	NUM
aeasj-261	322	49	%	%	NOUN
aeasj-261	322	50	source	source	NOUN
aeasj-261	322	51	:	:	PUNCT
aeasj-261	322	52	calculations	calculation	NOUN
aeasj-261	322	53	by	by	ADP
aeasj-261	322	54	authors	author	NOUN
aeasj-261	322	55	using	use	VERB
aeasj-261	322	56	eviews	eviews	PROPN
aeasj-261	322	57	9	9	NUM
aeasj-261	322	58	.	.	PUNCT
aeasj-261	323	1	as	as	SCONJ
aeasj-261	323	2	shown	show	VERB
aeasj-261	323	3	in	in	ADP
aeasj-261	323	4	table	table	NOUN
aeasj-261	323	5	11	11	NUM
aeasj-261	323	6	,	,	PUNCT
aeasj-261	323	7	the	the	DET
aeasj-261	323	8	coefficient	coefficient	NOUN
aeasj-261	323	9	on	on	ADP
aeasj-261	323	10	fs_r	fs_r	PROPN
aeasj-261	323	11	was	be	AUX
aeasj-261	323	12	not	not	PART
aeasj-261	323	13	significant	significant	ADJ
aeasj-261	323	14	on	on	ADP
aeasj-261	323	15	economic	economic	ADJ
aeasj-261	323	16	growth	growth	NOUN
aeasj-261	323	17	model	model	NOUN
aeasj-261	323	18	in	in	ADP
aeasj-261	323	19	the	the	DET
aeasj-261	323	20	short	short	ADJ
aeasj-261	323	21	run	run	NOUN
aeasj-261	323	22	in	in	ADP
aeasj-261	323	23	nigeria	nigeria	PROPN
aeasj-261	323	24	.	.	PUNCT
aeasj-261	324	1	this	this	PRON
aeasj-261	324	2	reveals	reveal	VERB
aeasj-261	324	3	that	that	SCONJ
aeasj-261	324	4	the	the	DET
aeasj-261	324	5	financial	financial	ADJ
aeasj-261	324	6	structure	structure	NOUN
aeasj-261	324	7	is	be	AUX
aeasj-261	324	8	not	not	PART
aeasj-261	324	9	important	important	ADJ
aeasj-261	324	10	in	in	ADP
aeasj-261	324	11	the	the	DET
aeasj-261	324	12	short	short	ADJ
aeasj-261	324	13	run	run	NOUN
aeasj-261	324	14	.	.	PUNCT
aeasj-261	325	1	the	the	DET
aeasj-261	325	2	results	result	NOUN
aeasj-261	325	3	of	of	ADP
aeasj-261	325	4	table	table	NOUN
aeasj-261	325	5	9	9	NUM
aeasj-261	325	6	and	and	CCONJ
aeasj-261	325	7	the	the	DET
aeasj-261	325	8	short	short	ADJ
aeasj-261	325	9	run	run	NOUN
aeasj-261	325	10	are	be	AUX
aeasj-261	325	11	different	different	ADJ
aeasj-261	325	12	.	.	PUNCT
aeasj-261	326	1	the	the	DET
aeasj-261	326	2	short	short	ADJ
aeasj-261	326	3	run	run	NOUN
aeasj-261	326	4	result	result	NOUN
aeasj-261	326	5	shows	show	VERB
aeasj-261	326	6	that	that	SCONJ
aeasj-261	326	7	the	the	DET
aeasj-261	326	8	insignificant	insignificant	NOUN
aeasj-261	326	9	of	of	ADP
aeasj-261	326	10	fs_r	fs_r	PROPN
aeasj-261	326	11	is	be	AUX
aeasj-261	326	12	inconsistent	inconsistent	ADJ
aeasj-261	326	13	with	with	ADP
aeasj-261	326	14	that	that	PRON
aeasj-261	326	15	of	of	ADP
aeasj-261	326	16	the	the	DET
aeasj-261	326	17	long	long	ADJ
aeasj-261	326	18	run	run	NOUN
aeasj-261	326	19	.	.	PUNCT
aeasj-261	327	1	this	this	PRON
aeasj-261	327	2	could	could	AUX
aeasj-261	327	3	be	be	AUX
aeasj-261	327	4	attributed	attribute	VERB
aeasj-261	327	5	to	to	ADP
aeasj-261	327	6	gestation	gestation	NOUN
aeasj-261	327	7	gap	gap	NOUN
aeasj-261	327	8	between	between	ADP
aeasj-261	327	9	finance	finance	NOUN
aeasj-261	327	10	mobilization	mobilization	NOUN
aeasj-261	327	11	,	,	PUNCT
aeasj-261	327	12	project	project	NOUN
aeasj-261	327	13	implementation	implementation	NOUN
aeasj-261	327	14	and	and	CCONJ
aeasj-261	327	15	the	the	DET
aeasj-261	327	16	impact	impact	NOUN
aeasj-261	327	17	of	of	ADP
aeasj-261	327	18	the	the	DET
aeasj-261	327	19	project	project	NOUN
aeasj-261	327	20	.	.	PUNCT
aeasj-261	328	1	results	result	NOUN
aeasj-261	328	2	of	of	ADP
aeasj-261	328	3	the	the	DET
aeasj-261	328	4	error	error	NOUN
aeasj-261	328	5	correction	correction	NOUN
aeasj-261	328	6	representation	representation	NOUN
aeasj-261	328	7	(	(	PUNCT
aeasj-261	328	8	ect(-1	ect(-1	PROPN
aeasj-261	328	9	)	)	PUNCT
aeasj-261	328	10	)	)	PUNCT
aeasj-261	328	11	,	,	PUNCT
aeasj-261	328	12	articulate	articulate	VERB
aeasj-261	328	13	the	the	DET
aeasj-261	328	14	dynamic	dynamic	ADJ
aeasj-261	328	15	behaviour	behaviour	NOUN
aeasj-261	328	16	of	of	ADP
aeasj-261	328	17	the	the	DET
aeasj-261	328	18	vecm	vecm	NOUN
aeasj-261	328	19	model	model	NOUN
aeasj-261	328	20	,	,	PUNCT
aeasj-261	328	21	where	where	SCONJ
aeasj-261	328	22	the	the	DET
aeasj-261	328	23	coefficient	coefficient	NOUN
aeasj-261	328	24	of	of	ADP
aeasj-261	328	25	the	the	DET
aeasj-261	328	26	error	error	NOUN
aeasj-261	328	27	correction	correction	NOUN
aeasj-261	328	28	term	term	NOUN
aeasj-261	328	29	in	in	ADP
aeasj-261	328	30	growth	growth	NOUN
aeasj-261	328	31	model	model	NOUN
aeasj-261	328	32	is	be	AUX
aeasj-261	328	33	negative	negative	ADJ
aeasj-261	328	34	and	and	CCONJ
aeasj-261	328	35	highly	highly	ADV
aeasj-261	328	36	significant	significant	ADJ
aeasj-261	328	37	at	at	ADP
aeasj-261	328	38	5	5	NUM
aeasj-261	328	39	%	%	NOUN
aeasj-261	328	40	which	which	PRON
aeasj-261	328	41	confirms	confirm	VERB
aeasj-261	328	42	the	the	DET
aeasj-261	328	43	existence	existence	NOUN
aeasj-261	328	44	of	of	ADP
aeasj-261	328	45	the	the	DET
aeasj-261	328	46	long	long	ADV
aeasj-261	328	47	-	-	PUNCT
aeasj-261	328	48	run	run	NOUN
aeasj-261	328	49	relationship	relationship	NOUN
aeasj-261	328	50	between	between	ADP
aeasj-261	328	51	the	the	DET
aeasj-261	328	52	underlying	underlying	ADJ
aeasj-261	328	53	variables	variable	NOUN
aeasj-261	328	54	and	and	CCONJ
aeasj-261	328	55	represent	represent	VERB
aeasj-261	328	56	the	the	DET
aeasj-261	328	57	speed	speed	NOUN
aeasj-261	328	58	of	of	ADP
aeasj-261	328	59	adjustment	adjustment	NOUN
aeasj-261	328	60	with	with	ADP
aeasj-261	328	61	which	which	PRON
aeasj-261	328	62	the	the	DET
aeasj-261	328	63	model	model	NOUN
aeasj-261	328	64	attains	attain	VERB
aeasj-261	328	65	the	the	DET
aeasj-261	328	66	long	long	ADV
aeasj-261	328	67	-	-	PUNCT
aeasj-261	328	68	run	run	VERB
aeasj-261	328	69	steady	steady	ADJ
aeasj-261	328	70	state	state	NOUN
aeasj-261	328	71	equilibrium	equilibrium	NOUN
aeasj-261	328	72	following	follow	VERB
aeasj-261	328	73	an	an	DET
aeasj-261	328	74	exogenous	exogenous	ADJ
aeasj-261	328	75	shock	shock	NOUN
aeasj-261	328	76	in	in	ADP
aeasj-261	328	77	the	the	DET
aeasj-261	328	78	short	short	ADJ
aeasj-261	328	79	-	-	PUNCT
aeasj-261	328	80	run	run	NOUN
aeasj-261	328	81	.	.	PUNCT
aeasj-261	329	1	in	in	ADP
aeasj-261	329	2	the	the	DET
aeasj-261	329	3	growth	growth	NOUN
aeasj-261	329	4	model	model	NOUN
aeasj-261	329	5	the	the	DET
aeasj-261	329	6	ect(-1	ect(-1	NOUN
aeasj-261	329	7	)	)	PUNCT
aeasj-261	329	8	coefficient	coefficient	NOUN
aeasj-261	329	9	is	be	AUX
aeasj-261	329	10	about	about	ADV
aeasj-261	329	11	0.008	0.008	NUM
aeasj-261	329	12	percent	percent	NOUN
aeasj-261	329	13	which	which	PRON
aeasj-261	329	14	is	be	AUX
aeasj-261	329	15	quite	quite	ADV
aeasj-261	329	16	slow	slow	ADJ
aeasj-261	329	17	.	.	PUNCT
aeasj-261	330	1	this	this	PRON
aeasj-261	330	2	means	mean	VERB
aeasj-261	330	3	that	that	SCONJ
aeasj-261	330	4	the	the	DET
aeasj-261	330	5	deviation	deviation	NOUN
aeasj-261	330	6	from	from	ADP
aeasj-261	330	7	long	long	ADV
aeasj-261	330	8	-	-	PUNCT
aeasj-261	330	9	run	run	VERB
aeasj-261	330	10	equilibrium	equilibrium	NOUN
aeasj-261	330	11	will	will	AUX
aeasj-261	330	12	be	be	AUX
aeasj-261	330	13	corrected	correct	VERB
aeasj-261	330	14	by	by	ADP
aeasj-261	330	15	a	a	DET
aeasj-261	330	16	speed	speed	NOUN
aeasj-261	330	17	between	between	ADP
aeasj-261	330	18	0.008	0.008	NUM
aeasj-261	330	19	percent	percent	NOUN
aeasj-261	330	20	every	every	DET
aeasj-261	330	21	year	year	NOUN
aeasj-261	330	22	.	.	PUNCT
aeasj-261	331	1	next	next	ADJ
aeasj-261	331	2	is	be	AUX
aeasj-261	331	3	model	model	NOUN
aeasj-261	331	4	appraisal	appraisal	NOUN
aeasj-261	331	5	which	which	PRON
aeasj-261	331	6	aimed	aim	VERB
aeasj-261	331	7	at	at	ADP
aeasj-261	331	8	validating	validate	VERB
aeasj-261	331	9	the	the	DET
aeasj-261	331	10	parameter	parameter	NOUN
aeasj-261	331	11	outcomes	outcome	NOUN
aeasj-261	331	12	of	of	ADP
aeasj-261	331	13	the	the	DET
aeasj-261	331	14	estimated	estimate	VERB
aeasj-261	331	15	model	model	NOUN
aeasj-261	331	16	.	.	PUNCT
aeasj-261	332	1	copyright	copyright	NOUN
aeasj-261	332	2	©	©	PROPN
aeasj-261	332	3	cc	cc	PROPN
aeasj-261	332	4	-	-	PUNCT
aeasj-261	332	5	by	by	ADP
aeasj-261	332	6	-	-	PUNCT
aeasj-261	332	7	nc	nc	PROPN
aeasj-261	332	8	2019	2019	NUM
aeasj-261	332	9	,	,	PUNCT
aeasj-261	332	10	cribfb	cribfb	PROPN
aeasj-261	332	11	|	|	ADV
aeasj-261	332	12	afbr	afbr	PROPN
aeasj-261	332	13	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	332	14	american	american	PROPN
aeasj-261	332	15	economic	economic	PROPN
aeasj-261	332	16	&	&	CCONJ
aeasj-261	332	17	social	social	PROPN
aeasj-261	332	18	review	review	PROPN
aeasj-261	332	19	vol	vol	NOUN
aeasj-261	332	20	.	.	PROPN
aeasj-261	333	1	5	5	NUM
aeasj-261	333	2	,	,	PUNCT
aeasj-261	333	3	no	no	INTJ
aeasj-261	333	4	.	.	NOUN
aeasj-261	333	5	1	1	NUM
aeasj-261	333	6	;	;	PUNCT
aeasj-261	333	7	2019	2019	NUM
aeasj-261	333	8	45	45	NUM
aeasj-261	333	9	4.5.1	4.5.1	NUM
aeasj-261	333	10	model	model	NOUN
aeasj-261	333	11	appraisal	appraisal	NOUN
aeasj-261	333	12	the	the	DET
aeasj-261	333	13	ar	ar	NOUN
aeasj-261	333	14	roots	root	NOUN
aeasj-261	333	15	test	test	NOUN
aeasj-261	333	16	result	result	NOUN
aeasj-261	333	17	in	in	ADP
aeasj-261	333	18	the	the	DET
aeasj-261	333	19	appendices	appendix	NOUN
aeasj-261	333	20	indicates	indicate	VERB
aeasj-261	333	21	that	that	SCONJ
aeasj-261	333	22	the	the	DET
aeasj-261	333	23	estimated	estimate	VERB
aeasj-261	333	24	model	model	NOUN
aeasj-261	333	25	is	be	AUX
aeasj-261	333	26	stationary	stationary	ADJ
aeasj-261	333	27	since	since	SCONJ
aeasj-261	333	28	there	there	PRON
aeasj-261	333	29	are	be	VERB
aeasj-261	333	30	no	no	DET
aeasj-261	333	31	roots	root	NOUN
aeasj-261	333	32	lying	lie	VERB
aeasj-261	333	33	outside	outside	ADP
aeasj-261	333	34	the	the	DET
aeasj-261	333	35	unit	unit	NOUN
aeasj-261	333	36	cycle	cycle	NOUN
aeasj-261	333	37	,	,	PUNCT
aeasj-261	333	38	meaning	mean	VERB
aeasj-261	333	39	that	that	SCONJ
aeasj-261	333	40	the	the	DET
aeasj-261	333	41	model	model	NOUN
aeasj-261	333	42	is	be	AUX
aeasj-261	333	43	stable	stable	ADJ
aeasj-261	333	44	.	.	PUNCT
aeasj-261	334	1	the	the	DET
aeasj-261	334	2	serial	serial	ADJ
aeasj-261	334	3	correlation	correlation	NOUN
aeasj-261	334	4	lm	lm	NOUN
aeasj-261	334	5	test	test	NOUN
aeasj-261	334	6	result	result	NOUN
aeasj-261	334	7	shows	show	VERB
aeasj-261	334	8	a	a	DET
aeasj-261	334	9	probability	probability	NOUN
aeasj-261	334	10	of	of	ADP
aeasj-261	334	11	0.9113	0.9113	NUM
aeasj-261	334	12	at	at	ADP
aeasj-261	334	13	lag	lag	NOUN
aeasj-261	334	14	1	1	NUM
aeasj-261	334	15	which	which	PRON
aeasj-261	334	16	is	be	AUX
aeasj-261	334	17	high	high	ADJ
aeasj-261	334	18	;	;	PUNCT
aeasj-261	334	19	therefore	therefore	ADV
aeasj-261	334	20	,	,	PUNCT
aeasj-261	334	21	the	the	DET
aeasj-261	334	22	null	null	ADJ
aeasj-261	334	23	hypothesis	hypothesis	NOUN
aeasj-261	334	24	is	be	AUX
aeasj-261	334	25	rejected	reject	VERB
aeasj-261	334	26	and	and	CCONJ
aeasj-261	334	27	the	the	DET
aeasj-261	334	28	study	study	NOUN
aeasj-261	334	29	concludes	conclude	VERB
aeasj-261	334	30	that	that	SCONJ
aeasj-261	334	31	there	there	PRON
aeasj-261	334	32	is	be	VERB
aeasj-261	334	33	no	no	DET
aeasj-261	334	34	serial	serial	ADJ
aeasj-261	334	35	correlation	correlation	NOUN
aeasj-261	334	36	among	among	ADP
aeasj-261	334	37	the	the	DET
aeasj-261	334	38	underlying	underlie	VERB
aeasj-261	334	39	variables	variable	NOUN
aeasj-261	334	40	.	.	PUNCT
aeasj-261	335	1	also	also	ADV
aeasj-261	335	2	,	,	PUNCT
aeasj-261	335	3	the	the	DET
aeasj-261	335	4	normality	normality	NOUN
aeasj-261	335	5	test	test	NOUN
aeasj-261	335	6	result	result	NOUN
aeasj-261	335	7	shows	show	VERB
aeasj-261	335	8	an	an	DET
aeasj-261	335	9	indication	indication	NOUN
aeasj-261	335	10	of	of	ADP
aeasj-261	335	11	normal	normal	ADJ
aeasj-261	335	12	distribution	distribution	NOUN
aeasj-261	335	13	.	.	PUNCT
aeasj-261	336	1	this	this	PRON
aeasj-261	336	2	is	be	AUX
aeasj-261	336	3	because	because	SCONJ
aeasj-261	336	4	all	all	DET
aeasj-261	336	5	the	the	DET
aeasj-261	336	6	probabilities	probability	NOUN
aeasj-261	336	7	of	of	ADP
aeasj-261	336	8	skewness	skewness	NOUN
aeasj-261	336	9	,	,	PUNCT
aeasj-261	336	10	kurtosis	kurtosis	NOUN
aeasj-261	336	11	and	and	CCONJ
aeasj-261	336	12	jarque	jarque	NOUN
aeasj-261	336	13	-	-	PUNCT
aeasj-261	336	14	bera	bera	NOUN
aeasj-261	336	15	at	at	ADP
aeasj-261	336	16	lag	lag	NOUN
aeasj-261	336	17	1	1	NUM
aeasj-261	336	18	are	be	AUX
aeasj-261	336	19	above	above	ADP
aeasj-261	336	20	5	5	NUM
aeasj-261	336	21	%	%	NOUN
aeasj-261	336	22	and	and	CCONJ
aeasj-261	336	23	10	10	NUM
aeasj-261	336	24	%	%	NOUN
aeasj-261	336	25	,	,	PUNCT
aeasj-261	336	26	hence	hence	ADV
aeasj-261	336	27	the	the	DET
aeasj-261	336	28	null	null	ADJ
aeasj-261	336	29	hypothesis	hypothesis	NOUN
aeasj-261	336	30	of	of	ADP
aeasj-261	336	31	normality	normality	NOUN
aeasj-261	336	32	is	be	AUX
aeasj-261	336	33	rejected	reject	VERB
aeasj-261	336	34	.	.	PUNCT
aeasj-261	337	1	furthermore	furthermore	ADV
aeasj-261	337	2	,	,	PUNCT
aeasj-261	337	3	the	the	DET
aeasj-261	337	4	hetroscedasticity	hetroscedasticity	NOUN
aeasj-261	337	5	test	test	NOUN
aeasj-261	337	6	reveals	reveal	VERB
aeasj-261	337	7	that	that	SCONJ
aeasj-261	337	8	the	the	DET
aeasj-261	337	9	null	null	ADJ
aeasj-261	337	10	hypothesis	hypothesis	NOUN
aeasj-261	337	11	can	can	AUX
aeasj-261	337	12	not	not	PART
aeasj-261	337	13	be	be	AUX
aeasj-261	337	14	rejected	reject	VERB
aeasj-261	337	15	since	since	SCONJ
aeasj-261	337	16	the	the	DET
aeasj-261	337	17	probability	probability	NOUN
aeasj-261	337	18	(	(	PUNCT
aeasj-261	337	19	0.3685	0.3685	NUM
aeasj-261	337	20	)	)	PUNCT
aeasj-261	337	21	is	be	AUX
aeasj-261	337	22	greater	great	ADJ
aeasj-261	337	23	than	than	ADP
aeasj-261	337	24	5	5	NUM
aeasj-261	337	25	%	%	NOUN
aeasj-261	337	26	and	and	CCONJ
aeasj-261	337	27	10	10	NUM
aeasj-261	337	28	%	%	NOUN
aeasj-261	337	29	.	.	PUNCT
aeasj-261	338	1	this	this	PRON
aeasj-261	338	2	,	,	PUNCT
aeasj-261	338	3	therefore	therefore	ADV
aeasj-261	338	4	,	,	PUNCT
aeasj-261	338	5	means	mean	VERB
aeasj-261	338	6	that	that	SCONJ
aeasj-261	338	7	there	there	PRON
aeasj-261	338	8	is	be	VERB
aeasj-261	338	9	no	no	DET
aeasj-261	338	10	model	model	NOUN
aeasj-261	338	11	misspecifications	misspecification	NOUN
aeasj-261	338	12	problem	problem	NOUN
aeasj-261	338	13	.	.	PUNCT
aeasj-261	339	1	5	5	X
aeasj-261	339	2	.	.	X
aeasj-261	339	3	conclusion	conclusion	NOUN
aeasj-261	339	4	and	and	CCONJ
aeasj-261	339	5	policy	policy	NOUN
aeasj-261	339	6	recommendations	recommendation	NOUN
aeasj-261	339	7	this	this	DET
aeasj-261	339	8	study	study	NOUN
aeasj-261	339	9	examined	examine	VERB
aeasj-261	339	10	the	the	DET
aeasj-261	339	11	relationship	relationship	NOUN
aeasj-261	339	12	between	between	ADP
aeasj-261	339	13	financial	financial	ADJ
aeasj-261	339	14	structure	structure	NOUN
aeasj-261	339	15	and	and	CCONJ
aeasj-261	339	16	economic	economic	ADJ
aeasj-261	339	17	growth	growth	NOUN
aeasj-261	339	18	in	in	ADP
aeasj-261	339	19	nigeria	nigeria	PROPN
aeasj-261	339	20	.	.	PUNCT
aeasj-261	340	1	as	as	SCONJ
aeasj-261	340	2	lead	lead	VERB
aeasj-261	340	3	up	up	ADP
aeasj-261	340	4	to	to	ADP
aeasj-261	340	5	financial	financial	ADJ
aeasj-261	340	6	structure	structure	NOUN
aeasj-261	340	7	and	and	CCONJ
aeasj-261	340	8	economic	economic	ADJ
aeasj-261	340	9	growth	growth	NOUN
aeasj-261	340	10	relationship	relationship	NOUN
aeasj-261	340	11	analysis	analysis	NOUN
aeasj-261	340	12	,	,	PUNCT
aeasj-261	340	13	the	the	DET
aeasj-261	340	14	competing	compete	VERB
aeasj-261	340	15	theoretical	theoretical	ADJ
aeasj-261	340	16	views	view	NOUN
aeasj-261	340	17	of	of	ADP
aeasj-261	340	18	bank	bank	NOUN
aeasj-261	340	19	and	and	CCONJ
aeasj-261	340	20	market	market	NOUN
aeasj-261	340	21	based	base	VERB
aeasj-261	340	22	financial	financial	ADJ
aeasj-261	340	23	system	system	NOUN
aeasj-261	340	24	,	,	PUNCT
aeasj-261	340	25	and	and	CCONJ
aeasj-261	340	26	economic	economic	ADJ
aeasj-261	340	27	growth	growth	NOUN
aeasj-261	340	28	is	be	AUX
aeasj-261	340	29	explored	explore	VERB
aeasj-261	340	30	.	.	PUNCT
aeasj-261	341	1	the	the	DET
aeasj-261	341	2	results	result	NOUN
aeasj-261	341	3	of	of	ADP
aeasj-261	341	4	the	the	DET
aeasj-261	341	5	study	study	NOUN
aeasj-261	341	6	show	show	VERB
aeasj-261	341	7	that	that	SCONJ
aeasj-261	341	8	stock	stock	NOUN
aeasj-261	341	9	market	market	NOUN
aeasj-261	341	10	-	-	PUNCT
aeasj-261	341	11	based	base	VERB
aeasj-261	341	12	has	have	VERB
aeasj-261	341	13	a	a	DET
aeasj-261	341	14	positive	positive	ADJ
aeasj-261	341	15	significant	significant	ADJ
aeasj-261	341	16	effect	effect	NOUN
aeasj-261	341	17	on	on	ADP
aeasj-261	341	18	growth	growth	NOUN
aeasj-261	341	19	while	while	SCONJ
aeasj-261	341	20	bank	bank	NOUN
aeasj-261	341	21	-	-	PUNCT
aeasj-261	341	22	based	base	VERB
aeasj-261	341	23	has	have	VERB
aeasj-261	341	24	a	a	DET
aeasj-261	341	25	negative	negative	ADJ
aeasj-261	341	26	significant	significant	ADJ
aeasj-261	341	27	effect	effect	NOUN
aeasj-261	341	28	on	on	ADP
aeasj-261	341	29	growth	growth	NOUN
aeasj-261	341	30	.	.	PUNCT
aeasj-261	342	1	this	this	PRON
aeasj-261	342	2	implies	imply	VERB
aeasj-261	342	3	that	that	SCONJ
aeasj-261	342	4	both	both	PRON
aeasj-261	342	5	bank	bank	NOUN
aeasj-261	342	6	-	-	PUNCT
aeasj-261	342	7	based	base	VERB
aeasj-261	342	8	and	and	CCONJ
aeasj-261	342	9	market	market	NOUN
aeasj-261	342	10	-	-	PUNCT
aeasj-261	342	11	based	base	VERB
aeasj-261	342	12	are	be	AUX
aeasj-261	342	13	substitute	substitute	ADJ
aeasj-261	342	14	,	,	PUNCT
aeasj-261	342	15	therefore	therefore	ADV
aeasj-261	342	16	,	,	PUNCT
aeasj-261	342	17	market	market	NOUN
aeasj-261	342	18	-	-	PUNCT
aeasj-261	342	19	based	base	VERB
aeasj-261	342	20	financial	financial	ADJ
aeasj-261	342	21	system	system	NOUN
aeasj-261	342	22	is	be	AUX
aeasj-261	342	23	better	well	ADJ
aeasj-261	342	24	at	at	ADP
aeasj-261	342	25	enhancing	enhance	VERB
aeasj-261	342	26	economic	economic	ADJ
aeasj-261	342	27	growth	growth	NOUN
aeasj-261	342	28	.	.	PUNCT
aeasj-261	343	1	however	however	ADV
aeasj-261	343	2	,	,	PUNCT
aeasj-261	343	3	the	the	DET
aeasj-261	343	4	study	study	NOUN
aeasj-261	343	5	focuses	focus	VERB
aeasj-261	343	6	on	on	ADP
aeasj-261	343	7	the	the	DET
aeasj-261	343	8	significance	significance	NOUN
aeasj-261	343	9	of	of	ADP
aeasj-261	343	10	coefficients	coefficient	NOUN
aeasj-261	343	11	of	of	ADP
aeasj-261	343	12	financial	financial	ADJ
aeasj-261	343	13	development	development	NOUN
aeasj-261	343	14	variables	variable	NOUN
aeasj-261	343	15	(	(	PUNCT
aeasj-261	343	16	bank	bank	NOUN
aeasj-261	343	17	-	-	PUNCT
aeasj-261	343	18	based	base	VERB
aeasj-261	343	19	and	and	CCONJ
aeasj-261	343	20	market	market	NOUN
aeasj-261	343	21	-	-	PUNCT
aeasj-261	343	22	based	base	VERB
aeasj-261	343	23	)	)	PUNCT
aeasj-261	343	24	,	,	PUNCT
aeasj-261	343	25	rather	rather	ADV
aeasj-261	343	26	than	than	ADP
aeasj-261	343	27	their	their	PRON
aeasj-261	343	28	signs	sign	NOUN
aeasj-261	343	29	.	.	PUNCT
aeasj-261	344	1	given	give	VERB
aeasj-261	344	2	the	the	DET
aeasj-261	344	3	bank	bank	NOUN
aeasj-261	344	4	and	and	CCONJ
aeasj-261	344	5	market	market	NOUN
aeasj-261	344	6	system	system	NOUN
aeasj-261	344	7	variables	variable	VERB
aeasj-261	344	8	,	,	PUNCT
aeasj-261	344	9	it	it	PRON
aeasj-261	344	10	shows	show	VERB
aeasj-261	344	11	that	that	SCONJ
aeasj-261	344	12	the	the	DET
aeasj-261	344	13	both	both	PRON
aeasj-261	344	14	are	be	AUX
aeasj-261	344	15	significantly	significantly	ADV
aeasj-261	344	16	influencing	influence	VERB
aeasj-261	344	17	economic	economic	ADJ
aeasj-261	344	18	growth	growth	NOUN
aeasj-261	344	19	in	in	ADP
aeasj-261	344	20	nigeria	nigeria	PROPN
aeasj-261	344	21	.	.	PUNCT
aeasj-261	345	1	the	the	DET
aeasj-261	345	2	significant	significant	ADJ
aeasj-261	345	3	of	of	ADP
aeasj-261	345	4	the	the	DET
aeasj-261	345	5	coefficients	coefficient	NOUN
aeasj-261	345	6	of	of	ADP
aeasj-261	345	7	both	both	DET
aeasj-261	345	8	bank	bank	NOUN
aeasj-261	345	9	and	and	CCONJ
aeasj-261	345	10	stock	stock	NOUN
aeasj-261	345	11	market	market	NOUN
aeasj-261	345	12	variables	variable	NOUN
aeasj-261	345	13	imply	imply	VERB
aeasj-261	345	14	that	that	SCONJ
aeasj-261	345	15	both	both	DET
aeasj-261	345	16	systems	system	NOUN
aeasj-261	345	17	matter	matter	VERB
aeasj-261	345	18	in	in	ADP
aeasj-261	345	19	explaining	explain	VERB
aeasj-261	345	20	economic	economic	ADJ
aeasj-261	345	21	growth	growth	NOUN
aeasj-261	345	22	in	in	ADP
aeasj-261	345	23	nigeria	nigeria	PROPN
aeasj-261	345	24	,	,	PUNCT
aeasj-261	345	25	thereby	thereby	ADV
aeasj-261	345	26	favouring	favour	VERB
aeasj-261	345	27	their	their	PRON
aeasj-261	345	28	combination	combination	NOUN
aeasj-261	345	29	.	.	PUNCT
aeasj-261	346	1	the	the	DET
aeasj-261	346	2	result	result	NOUN
aeasj-261	346	3	of	of	ADP
aeasj-261	346	4	the	the	DET
aeasj-261	346	5	study	study	NOUN
aeasj-261	346	6	also	also	ADV
aeasj-261	346	7	reveals	reveal	VERB
aeasj-261	346	8	that	that	SCONJ
aeasj-261	346	9	financial	financial	ADJ
aeasj-261	346	10	structure	structure	NOUN
aeasj-261	346	11	which	which	PRON
aeasj-261	346	12	captures	capture	VERB
aeasj-261	346	13	the	the	DET
aeasj-261	346	14	combination	combination	NOUN
aeasj-261	346	15	of	of	ADP
aeasj-261	346	16	stock	stock	NOUN
aeasj-261	346	17	market	market	NOUN
aeasj-261	346	18	-	-	PUNCT
aeasj-261	346	19	based	base	VERB
aeasj-261	346	20	and	and	CCONJ
aeasj-261	346	21	bank	bank	NOUN
aeasj-261	346	22	-	-	PUNCT
aeasj-261	346	23	based	base	VERB
aeasj-261	346	24	financial	financial	ADJ
aeasj-261	346	25	development	development	NOUN
aeasj-261	346	26	has	have	VERB
aeasj-261	346	27	a	a	DET
aeasj-261	346	28	positive	positive	ADJ
aeasj-261	346	29	significant	significant	ADJ
aeasj-261	346	30	effect	effect	NOUN
aeasj-261	346	31	on	on	ADP
aeasj-261	346	32	growth	growth	NOUN
aeasj-261	346	33	.	.	PUNCT
aeasj-261	347	1	the	the	DET
aeasj-261	347	2	coefficient	coefficient	NOUN
aeasj-261	347	3	of	of	ADP
aeasj-261	347	4	financial	financial	ADJ
aeasj-261	347	5	structure	structure	NOUN
aeasj-261	347	6	has	have	VERB
aeasj-261	347	7	a	a	DET
aeasj-261	347	8	positive	positive	ADJ
aeasj-261	347	9	sign	sign	NOUN
aeasj-261	347	10	,	,	PUNCT
aeasj-261	347	11	significant	significant	ADJ
aeasj-261	347	12	and	and	CCONJ
aeasj-261	347	13	very	very	ADV
aeasj-261	347	14	high	high	ADJ
aeasj-261	347	15	.	.	PUNCT
aeasj-261	348	1	this	this	PRON
aeasj-261	348	2	is	be	AUX
aeasj-261	348	3	consistent	consistent	ADJ
aeasj-261	348	4	with	with	ADP
aeasj-261	348	5	the	the	DET
aeasj-261	348	6	stock	stock	NOUN
aeasj-261	348	7	market	market	NOUN
aeasj-261	348	8	view	view	NOUN
aeasj-261	348	9	.	.	PUNCT
aeasj-261	349	1	higher	high	ADJ
aeasj-261	349	2	coefficient	coefficient	NOUN
aeasj-261	349	3	of	of	ADP
aeasj-261	349	4	financial	financial	ADJ
aeasj-261	349	5	structure	structure	NOUN
aeasj-261	349	6	means	mean	VERB
aeasj-261	349	7	a	a	DET
aeasj-261	349	8	system	system	NOUN
aeasj-261	349	9	that	that	PRON
aeasj-261	349	10	is	be	AUX
aeasj-261	349	11	capital	capital	NOUN
aeasj-261	349	12	market	market	NOUN
aeasj-261	349	13	-	-	PUNCT
aeasj-261	349	14	based	base	VERB
aeasj-261	349	15	dominant	dominant	NOUN
aeasj-261	349	16	while	while	SCONJ
aeasj-261	349	17	a	a	DET
aeasj-261	349	18	lower	low	ADJ
aeasj-261	349	19	financial	financial	ADJ
aeasj-261	349	20	structure	structure	NOUN
aeasj-261	349	21	coefficient	coefficient	NOUN
aeasj-261	349	22	means	mean	VERB
aeasj-261	349	23	more	more	ADJ
aeasj-261	349	24	of	of	ADP
aeasj-261	349	25	a	a	DET
aeasj-261	349	26	bank	bank	NOUN
aeasj-261	349	27	-	-	PUNCT
aeasj-261	349	28	based	base	VERB
aeasj-261	349	29	system	system	NOUN
aeasj-261	349	30	.	.	PUNCT
aeasj-261	350	1	the	the	DET
aeasj-261	350	2	stock	stock	NOUN
aeasj-261	350	3	market	market	NOUN
aeasj-261	350	4	based	base	VERB
aeasj-261	350	5	view	view	NOUN
aeasj-261	350	6	posits	posit	VERB
aeasj-261	350	7	a	a	DET
aeasj-261	350	8	significant	significant	ADJ
aeasj-261	350	9	positive	positive	ADJ
aeasj-261	350	10	relationship	relationship	NOUN
aeasj-261	350	11	between	between	ADP
aeasj-261	350	12	financial	financial	ADJ
aeasj-261	350	13	structure	structure	NOUN
aeasj-261	350	14	and	and	CCONJ
aeasj-261	350	15	economic	economic	ADJ
aeasj-261	350	16	growth	growth	NOUN
aeasj-261	350	17	while	while	SCONJ
aeasj-261	350	18	the	the	DET
aeasj-261	350	19	bankbased	bankbase	VERB
aeasj-261	350	20	view	view	NOUN
aeasj-261	350	21	predicts	predict	VERB
aeasj-261	350	22	a	a	DET
aeasj-261	350	23	negative	negative	ADJ
aeasj-261	350	24	significance	significance	NOUN
aeasj-261	350	25	relationship	relationship	NOUN
aeasj-261	350	26	between	between	ADP
aeasj-261	350	27	financial	financial	ADJ
aeasj-261	350	28	structure	structure	NOUN
aeasj-261	350	29	and	and	CCONJ
aeasj-261	350	30	economic	economic	ADJ
aeasj-261	350	31	growth	growth	NOUN
aeasj-261	350	32	.	.	PUNCT
aeasj-261	351	1	however	however	ADV
aeasj-261	351	2	,	,	PUNCT
aeasj-261	351	3	for	for	SCONJ
aeasj-261	351	4	the	the	DET
aeasj-261	351	5	purposes	purpose	NOUN
aeasj-261	351	6	of	of	ADP
aeasj-261	351	7	this	this	DET
aeasj-261	351	8	study	study	NOUN
aeasj-261	351	9	not	not	PART
aeasj-261	351	10	to	to	PART
aeasj-261	351	11	be	be	AUX
aeasj-261	351	12	defeated	defeat	VERB
aeasj-261	351	13	,	,	PUNCT
aeasj-261	351	14	the	the	DET
aeasj-261	351	15	study	study	NOUN
aeasj-261	351	16	focuses	focus	VERB
aeasj-261	351	17	on	on	ADP
aeasj-261	351	18	the	the	DET
aeasj-261	351	19	significance	significance	NOUN
aeasj-261	351	20	or	or	CCONJ
aeasj-261	351	21	otherwise	otherwise	ADV
aeasj-261	351	22	of	of	ADP
aeasj-261	351	23	the	the	DET
aeasj-261	351	24	coefficient	coefficient	NOUN
aeasj-261	351	25	of	of	ADP
aeasj-261	351	26	financial	financial	ADJ
aeasj-261	351	27	structure	structure	NOUN
aeasj-261	351	28	,	,	PUNCT
aeasj-261	351	29	rather	rather	ADV
aeasj-261	351	30	than	than	ADP
aeasj-261	351	31	its	its	PRON
aeasj-261	351	32	sign	sign	NOUN
aeasj-261	351	33	and	and	CCONJ
aeasj-261	351	34	magnitude	magnitude	NOUN
aeasj-261	351	35	.	.	PUNCT
aeasj-261	352	1	a	a	DET
aeasj-261	352	2	significant	significant	ADJ
aeasj-261	352	3	coefficient	coefficient	NOUN
aeasj-261	352	4	of	of	ADP
aeasj-261	352	5	financial	financial	ADJ
aeasj-261	352	6	structure	structure	NOUN
aeasj-261	352	7	implies	imply	VERB
aeasj-261	352	8	that	that	SCONJ
aeasj-261	352	9	financial	financial	ADJ
aeasj-261	352	10	structure	structure	NOUN
aeasj-261	352	11	matters	matter	VERB
aeasj-261	352	12	in	in	ADP
aeasj-261	352	13	explaining	explain	VERB
aeasj-261	352	14	growth	growth	NOUN
aeasj-261	352	15	.	.	PUNCT
aeasj-261	353	1	therefore	therefore	ADV
aeasj-261	353	2	,	,	PUNCT
aeasj-261	353	3	the	the	DET
aeasj-261	353	4	study	study	NOUN
aeasj-261	353	5	posits	posit	VERB
aeasj-261	353	6	that	that	SCONJ
aeasj-261	353	7	the	the	DET
aeasj-261	353	8	overall	overall	ADJ
aeasj-261	353	9	financial	financial	ADJ
aeasj-261	353	10	structure	structure	NOUN
aeasj-261	353	11	is	be	AUX
aeasj-261	353	12	the	the	DET
aeasj-261	353	13	most	most	ADV
aeasj-261	353	14	useful	useful	ADJ
aeasj-261	353	15	way	way	NOUN
aeasj-261	353	16	to	to	PART
aeasj-261	353	17	assess	assess	VERB
aeasj-261	353	18	the	the	DET
aeasj-261	353	19	financial	financial	ADJ
aeasj-261	353	20	systems	system	NOUN
aeasj-261	353	21	since	since	SCONJ
aeasj-261	353	22	both	both	CCONJ
aeasj-261	353	23	bank	bank	NOUN
aeasj-261	353	24	and	and	CCONJ
aeasj-261	353	25	stock	stock	NOUN
aeasj-261	353	26	market	market	NOUN
aeasj-261	353	27	system	system	NOUN
aeasj-261	353	28	matter	matter	NOUN
aeasj-261	353	29	in	in	ADP
aeasj-261	353	30	explaining	explain	VERB
aeasj-261	353	31	economic	economic	ADJ
aeasj-261	353	32	growth	growth	NOUN
aeasj-261	353	33	as	as	ADP
aeasj-261	353	34	against	against	ADP
aeasj-261	353	35	bank	bank	NOUN
aeasj-261	353	36	-	-	PUNCT
aeasj-261	353	37	based	base	VERB
aeasj-261	353	38	versus	versus	ADP
aeasj-261	353	39	market	market	NOUN
aeasj-261	353	40	-	-	PUNCT
aeasj-261	353	41	based	base	VERB
aeasj-261	353	42	debate	debate	NOUN
aeasj-261	353	43	.	.	PUNCT
aeasj-261	354	1	the	the	DET
aeasj-261	354	2	result	result	NOUN
aeasj-261	354	3	is	be	AUX
aeasj-261	354	4	consistent	consistent	ADJ
aeasj-261	354	5	with	with	ADP
aeasj-261	354	6	the	the	DET
aeasj-261	354	7	financial	financial	ADJ
aeasj-261	354	8	services	service	NOUN
aeasj-261	354	9	view	view	VERB
aeasj-261	354	10	that	that	SCONJ
aeasj-261	354	11	both	both	PRON
aeasj-261	354	12	bank	bank	NOUN
aeasj-261	354	13	and	and	CCONJ
aeasj-261	354	14	stock	stock	NOUN
aeasj-261	354	15	market	market	NOUN
aeasj-261	354	16	are	be	AUX
aeasj-261	354	17	relevant	relevant	ADJ
aeasj-261	354	18	to	to	ADP
aeasj-261	354	19	the	the	DET
aeasj-261	354	20	economic	economic	ADJ
aeasj-261	354	21	growth	growth	NOUN
aeasj-261	354	22	in	in	ADP
aeasj-261	354	23	nigeria	nigeria	PROPN
aeasj-261	354	24	.	.	PUNCT
aeasj-261	355	1	based	base	VERB
aeasj-261	355	2	on	on	ADP
aeasj-261	355	3	the	the	DET
aeasj-261	355	4	empirical	empirical	ADJ
aeasj-261	355	5	evidence	evidence	NOUN
aeasj-261	355	6	,	,	PUNCT
aeasj-261	355	7	the	the	DET
aeasj-261	355	8	study	study	NOUN
aeasj-261	355	9	therefore	therefore	ADV
aeasj-261	355	10	recommends	recommend	VERB
aeasj-261	355	11	that	that	SCONJ
aeasj-261	355	12	there	there	PRON
aeasj-261	355	13	should	should	AUX
aeasj-261	355	14	be	be	AUX
aeasj-261	355	15	continuous	continuous	ADJ
aeasj-261	355	16	holistic	holistic	ADJ
aeasj-261	355	17	reforms	reform	NOUN
aeasj-261	355	18	of	of	ADP
aeasj-261	355	19	both	both	DET
aeasj-261	355	20	banking	banking	NOUN
aeasj-261	355	21	and	and	CCONJ
aeasj-261	355	22	stock	stock	NOUN
aeasj-261	355	23	market	market	NOUN
aeasj-261	355	24	simultaneously	simultaneously	ADV
aeasj-261	355	25	,	,	PUNCT
aeasj-261	355	26	as	as	SCONJ
aeasj-261	355	27	the	the	DET
aeasj-261	355	28	development	development	NOUN
aeasj-261	355	29	in	in	ADP
aeasj-261	355	30	one	one	NUM
aeasj-261	355	31	sector	sector	NOUN
aeasj-261	355	32	has	have	VERB
aeasj-261	355	33	a	a	DET
aeasj-261	355	34	neglect	neglect	ADJ
aeasj-261	355	35	effect	effect	NOUN
aeasj-261	355	36	on	on	ADP
aeasj-261	355	37	the	the	DET
aeasj-261	355	38	other	other	ADJ
aeasj-261	355	39	.	.	PUNCT
aeasj-261	356	1	none	none	NOUN
aeasj-261	356	2	of	of	ADP
aeasj-261	356	3	the	the	DET
aeasj-261	356	4	sectors	sector	NOUN
aeasj-261	356	5	should	should	AUX
aeasj-261	356	6	be	be	AUX
aeasj-261	356	7	excluded	exclude	VERB
aeasj-261	356	8	for	for	ADP
aeasj-261	356	9	reforms	reform	NOUN
aeasj-261	356	10	aimed	aim	VERB
aeasj-261	356	11	at	at	ADP
aeasj-261	356	12	overall	overall	ADJ
aeasj-261	356	13	development	development	NOUN
aeasj-261	356	14	of	of	ADP
aeasj-261	356	15	the	the	DET
aeasj-261	356	16	financial	financial	ADJ
aeasj-261	356	17	system	system	NOUN
aeasj-261	356	18	and	and	CCONJ
aeasj-261	356	19	the	the	DET
aeasj-261	356	20	economy	economy	NOUN
aeasj-261	356	21	as	as	ADP
aeasj-261	356	22	a	a	DET
aeasj-261	356	23	whole	whole	NOUN
aeasj-261	356	24	.	.	PUNCT
aeasj-261	357	1	references	reference	NOUN
aeasj-261	357	2	allen	allen	PROPN
aeasj-261	357	3	,	,	PUNCT
aeasj-261	357	4	f.	f.	PROPN
aeasj-261	357	5	and	and	CCONJ
aeasj-261	357	6	gale	gale	PROPN
aeasj-261	357	7	,	,	PUNCT
aeasj-261	357	8	d.	d.	PROPN
aeasj-261	357	9	(	(	PUNCT
aeasj-261	357	10	1999	1999	NUM
aeasj-261	357	11	)	)	PUNCT
aeasj-261	357	12	.	.	PUNCT
aeasj-261	358	1	comparing	compare	VERB
aeasj-261	358	2	financial	financial	ADJ
aeasj-261	358	3	systems	system	NOUN
aeasj-261	358	4	.	.	PUNCT
aeasj-261	359	1	cambridge	cambridge	PROPN
aeasj-261	359	2	,	,	PUNCT
aeasj-261	359	3	mass	mass	PROPN
aeasj-261	359	4	.	.	PUNCT
aeasj-261	359	5	:	:	PUNCT
aeasj-261	360	1	mit	mit	VERB
aeasj-261	360	2	press	press	NOUN
aeasj-261	360	3	.	.	PUNCT
aeasj-261	361	1	arestis	arestis	PROPN
aeasj-261	361	2	,	,	PUNCT
aeasj-261	361	3	p.	p.	NOUN
aeasj-261	361	4	,	,	PUNCT
aeasj-261	361	5	demetriades	demetriade	VERB
aeasj-261	361	6	,	,	PUNCT
aeasj-261	361	7	p.	p.	NOUN
aeasj-261	361	8	and	and	CCONJ
aeasj-261	361	9	luintel	luintel	PROPN
aeasj-261	361	10	,	,	PUNCT
aeasj-261	361	11	k.	k.	PROPN
aeasj-261	362	1	(	(	PUNCT
aeasj-261	362	2	2001	2001	NUM
aeasj-261	362	3	)	)	PUNCT
aeasj-261	362	4	.	.	PUNCT
aeasj-261	363	1	financial	financial	ADJ
aeasj-261	363	2	development	development	NOUN
aeasj-261	363	3	and	and	CCONJ
aeasj-261	363	4	economic	economic	ADJ
aeasj-261	363	5	growth	growth	NOUN
aeasj-261	363	6	:	:	PUNCT
aeasj-261	363	7	the	the	DET
aeasj-261	363	8	role	role	NOUN
aeasj-261	363	9	of	of	ADP
aeasj-261	363	10	stock	stock	NOUN
aeasj-261	363	11	markets	market	NOUN
aeasj-261	363	12	.	.	PUNCT
aeasj-261	364	1	journal	journal	NOUN
aeasj-261	364	2	of	of	ADP
aeasj-261	364	3	money	money	NOUN
aeasj-261	364	4	,	,	PUNCT
aeasj-261	364	5	credit	credit	NOUN
aeasj-261	364	6	,	,	PUNCT
aeasj-261	364	7	and	and	CCONJ
aeasj-261	364	8	banking	banking	NOUN
aeasj-261	364	9	,	,	PUNCT
aeasj-261	364	10	33(1):16	33(1):16	NUM
aeasj-261	364	11	-	-	SYM
aeasj-261	364	12	41	41	NUM
aeasj-261	364	13	.	.	PUNCT
aeasj-261	365	1	arestis	arestis	PROPN
aeasj-261	365	2	,	,	PUNCT
aeasj-261	365	3	p.	p.	NOUN
aeasj-261	365	4	,	,	PUNCT
aeasj-261	365	5	luintel	luintel	PROPN
aeasj-261	365	6	,	,	PUNCT
aeasj-261	365	7	a.	a.	PROPN
aeasj-261	365	8	d.	d.	PROPN
aeasj-261	365	9	and	and	CCONJ
aeasj-261	365	10	luintel	luintel	PROPN
aeasj-261	365	11	,	,	PUNCT
aeasj-261	365	12	k.b	k.b	PROPN
aeasj-261	365	13	.	.	PUNCT
aeasj-261	365	14	(	(	PUNCT
aeasj-261	365	15	2004	2004	NUM
aeasj-261	365	16	)	)	PUNCT
aeasj-261	365	17	.	.	PUNCT
aeasj-261	366	1	does	do	VERB
aeasj-261	366	2	financial	financial	ADJ
aeasj-261	366	3	structure	structure	NOUN
aeasj-261	366	4	matter?the	matter?the	PRON
aeasj-261	366	5	levy	levy	NOUN
aeasj-261	366	6	economics	economics	PROPN
aeasj-261	366	7	institute	institute	PROPN
aeasj-261	366	8	of	of	ADP
aeasj-261	366	9	bard	bard	PROPN
aeasj-261	366	10	college	college	PROPN
aeasj-261	366	11	,	,	PUNCT
aeasj-261	366	12	annandale	annandale	PROPN
aeasj-261	366	13	-	-	PUNCT
aeasj-261	366	14	on	on	ADP
aeasj-261	366	15	-	-	PUNCT
aeasj-261	366	16	hudson	hudson	NOUN
aeasj-261	366	17	,	,	PUNCT
aeasj-261	366	18	ny	ny	PROPN
aeasj-261	366	19	.	.	PROPN
aeasj-261	366	20	ayadi	ayadi	PROPN
aeasj-261	366	21	,	,	PUNCT
aeasj-261	366	22	r.	r.	PROPN
aeasj-261	366	23	,	,	PUNCT
aeasj-261	366	24	arbak	arbak	NOUN
aeasj-261	366	25	,	,	PUNCT
aeasj-261	366	26	e.	e.	PROPN
aeasj-261	366	27	,	,	PUNCT
aeasj-261	366	28	ben	ben	PROPN
aeasj-261	366	29	-	-	PROPN
aeasj-261	366	30	naceur	naceur	PROPN
aeasj-261	366	31	,	,	PUNCT
aeasj-261	366	32	s.	s.	PROPN
aeasj-261	366	33	and	and	CCONJ
aeasj-261	366	34	de	de	PROPN
aeasj-261	366	35	-	-	NOUN
aeasj-261	366	36	groen	groen	NOUN
aeasj-261	366	37	,	,	PUNCT
aeasj-261	366	38	w.	w.	PROPN
aeasj-261	366	39	p.	p.	PROPN
aeasj-261	366	40	(	(	PUNCT
aeasj-261	366	41	2013	2013	NUM
aeasj-261	366	42	)	)	PUNCT
aeasj-261	366	43	.	.	PUNCT
aeasj-261	367	1	financial	financial	ADJ
aeasj-261	367	2	development	development	PROPN
aeasj-261	367	3	,	,	PUNCT
aeasj-261	367	4	bank	bank	NOUN
aeasj-261	367	5	efficiency	efficiency	NOUN
aeasj-261	367	6	and	and	CCONJ
aeasj-261	367	7	economic	economic	ADJ
aeasj-261	367	8	growth	growth	NOUN
aeasj-261	367	9	across	across	ADP
aeasj-261	367	10	the	the	DET
aeasj-261	367	11	mediterranean	mediterranean	PROPN
aeasj-261	367	12	.	.	PUNCT
aeasj-261	368	1	medpro	medpro	ADJ
aeasj-261	368	2	technical	technical	ADJ
aeasj-261	368	3	report	report	NOUN
aeasj-261	368	4	no	no	INTJ
aeasj-261	368	5	.	.	NOUN
aeasj-261	368	6	30	30	NUM
aeasj-261	368	7	.	.	X
aeasj-261	368	8	beck	beck	PROPN
aeasj-261	368	9	,	,	PUNCT
aeasj-261	368	10	t.	t.	PROPN
aeasj-261	368	11	and	and	CCONJ
aeasj-261	368	12	levine	levine	PROPN
aeasj-261	368	13	,	,	PUNCT
aeasj-261	368	14	r.	r.	PROPN
aeasj-261	368	15	(	(	PUNCT
aeasj-261	368	16	2002).stock	2002).stock	NUM
aeasj-261	368	17	markets	market	NOUN
aeasj-261	368	18	,	,	PUNCT
aeasj-261	368	19	banks	bank	NOUN
aeasj-261	368	20	and	and	CCONJ
aeasj-261	368	21	growth	growth	NOUN
aeasj-261	368	22	:	:	PUNCT
aeasj-261	368	23	panel	panel	NOUN
aeasj-261	368	24	evidence.nber	evidence.nber	CCONJ
aeasj-261	368	25	working	work	VERB
aeasj-261	368	26	paper	paper	NOUN
aeasj-261	368	27	series	series	NOUN
aeasj-261	368	28	no	no	PROPN
aeasj-261	368	29	.	.	PROPN
aeasj-261	368	30	9082	9082	NUM
aeasj-261	368	31	.	.	PUNCT
aeasj-261	369	1	cambridge	cambridge	PROPN
aeasj-261	369	2	,	,	PUNCT
aeasj-261	369	3	mass	mass	PROPN
aeasj-261	369	4	.	.	PUNCT
aeasj-261	369	5	:	:	PUNCT
aeasj-261	370	1	national	national	PROPN
aeasj-261	370	2	bureau	bureau	PROPN
aeasj-261	370	3	of	of	ADP
aeasj-261	370	4	economicresearch	economicresearch	PROPN
aeasj-261	370	5	.	.	PUNCT
aeasj-261	371	1	bhide	bhide	PROPN
aeasj-261	371	2	,	,	PUNCT
aeasj-261	371	3	a.	a.	NOUN
aeasj-261	371	4	(	(	PUNCT
aeasj-261	371	5	1993	1993	NUM
aeasj-261	371	6	)	)	PUNCT
aeasj-261	371	7	.	.	PUNCT
aeasj-261	372	1	the	the	DET
aeasj-261	372	2	hidden	hide	VERB
aeasj-261	372	3	costs	cost	NOUN
aeasj-261	372	4	of	of	ADP
aeasj-261	372	5	stock	stock	NOUN
aeasj-261	372	6	market	market	NOUN
aeasj-261	372	7	liquidity	liquidity	NOUN
aeasj-261	372	8	.	.	PUNCT
aeasj-261	373	1	journal	journal	NOUN
aeasj-261	373	2	of	of	ADP
aeasj-261	373	3	financialeconomics	financialeconomic	NOUN
aeasj-261	373	4	,	,	PUNCT
aeasj-261	373	5	34(1	34(1	NUM
aeasj-261	373	6	):	):	PUNCT
aeasj-261	373	7	1	1	NUM
aeasj-261	373	8	-	-	SYM
aeasj-261	373	9	51	51	NUM
aeasj-261	373	10	.	.	PUNCT
aeasj-261	374	1	boot	boot	NOUN
aeasj-261	374	2	,	,	PUNCT
aeasj-261	374	3	a.w.a	a.w.a	PROPN
aeasj-261	374	4	.	.	PROPN
aeasj-261	374	5	,	,	PUNCT
aeasj-261	374	6	greenbaum	greenbaum	PROPN
aeasj-261	374	7	,	,	PUNCT
aeasj-261	374	8	s.y	s.y	PROPN
aeasj-261	374	9	.	.	PROPN
aeasj-261	374	10	and	and	CCONJ
aeasj-261	374	11	thakor	thakor	PROPN
aeasj-261	374	12	,	,	PUNCT
aeasj-261	374	13	a.v	a.v	PROPN
aeasj-261	374	14	.	.	PROPN
aeasj-261	374	15	(	(	PUNCT
aeasj-261	374	16	1993	1993	NUM
aeasj-261	374	17	)	)	PUNCT
aeasj-261	374	18	reputation	reputation	NOUN
aeasj-261	374	19	and	and	CCONJ
aeasj-261	374	20	discretion	discretion	NOUN
aeasj-261	374	21	in	in	ADP
aeasj-261	374	22	financial	financial	ADJ
aeasj-261	374	23	contracting	contracting	NOUN
aeasj-261	374	24	,	,	PUNCT
aeasj-261	374	25	american	american	PROPN
aeasj-261	374	26	economic	economic	PROPN
aeasj-261	374	27	review	review	PROPN
aeasj-261	374	28	,	,	PUNCT
aeasj-261	374	29	vol	vol	NOUN
aeasj-261	374	30	.	.	PROPN
aeasj-261	374	31	83	83	NUM
aeasj-261	374	32	,	,	PUNCT
aeasj-261	374	33	pp.1165–1183	pp.1165–1183	PROPN
aeasj-261	374	34	.	.	PUNCT
aeasj-261	374	35	boyd	boyd	PROPN
aeasj-261	374	36	,	,	PUNCT
aeasj-261	374	37	j.	j.	PROPN
aeasj-261	374	38	h.	h.	PROPN
aeasj-261	374	39	and	and	CCONJ
aeasj-261	374	40	prescott	prescott	PROPN
aeasj-261	374	41	,	,	PUNCT
aeasj-261	374	42	e.	e.	PROPN
aeasj-261	374	43	c.	c.	PROPN
aeasj-261	374	44	(	(	PUNCT
aeasj-261	374	45	1986	1986	NUM
aeasj-261	374	46	)	)	PUNCT
aeasj-261	374	47	.	.	PUNCT
aeasj-261	375	1	financial	financial	ADJ
aeasj-261	375	2	intermediary	intermediary	NOUN
aeasj-261	375	3	-	-	PUNCT
aeasj-261	375	4	coalitions	coalition	NOUN
aeasj-261	375	5	.	.	PUNCT
aeasj-261	376	1	journal	journal	PROPN
aeasj-261	376	2	ofeconomic	ofeconomic	ADJ
aeasj-261	376	3	theory	theory	NOUN
aeasj-261	376	4	,	,	PUNCT
aeasj-261	376	5	38(2	38(2	NUM
aeasj-261	376	6	):	):	PUNCT
aeasj-261	376	7	211232	211232	NUM
aeasj-261	376	8	.	.	PUNCT
aeasj-261	377	1	boyd	boyd	PROPN
aeasj-261	377	2	,	,	PUNCT
aeasj-261	377	3	j.	j.	PROPN
aeasj-261	377	4	h.	h.	PROPN
aeasj-261	377	5	and	and	CCONJ
aeasj-261	377	6	smith	smith	PROPN
aeasj-261	377	7	,	,	PUNCT
aeasj-261	377	8	b.	b.	PROPN
aeasj-261	377	9	d.	d.	PROPN
aeasj-261	377	10	(	(	PUNCT
aeasj-261	377	11	1998	1998	NUM
aeasj-261	377	12	)	)	PUNCT
aeasj-261	377	13	.	.	PUNCT
aeasj-261	378	1	the	the	DET
aeasj-261	378	2	evolution	evolution	NOUN
aeasj-261	378	3	of	of	ADP
aeasj-261	378	4	debt	debt	NOUN
aeasj-261	378	5	and	and	CCONJ
aeasj-261	378	6	equity	equity	NOUN
aeasj-261	378	7	markets	market	NOUN
aeasj-261	378	8	in	in	ADP
aeasj-261	378	9	economic	economic	ADJ
aeasj-261	378	10	development	development	NOUN
aeasj-261	378	11	.	.	PUNCT
aeasj-261	379	1	economic	economic	ADJ
aeasj-261	379	2	theory	theory	NOUN
aeasj-261	379	3	,	,	PUNCT
aeasj-261	379	4	12	12	NUM
aeasj-261	379	5	:	:	PUNCT
aeasj-261	379	6	519	519	NUM
aeasj-261	379	7	-	-	SYM
aeasj-261	379	8	560	560	NUM
aeasj-261	379	9	.	.	PUNCT
aeasj-261	379	10	caporale	caporale	NOUN
aeasj-261	379	11	,	,	PUNCT
aeasj-261	379	12	g.c	g.c	PROPN
aeasj-261	379	13	.	.	PROPN
aeasj-261	379	14	,	,	PUNCT
aeasj-261	379	15	howell	howell	PROPN
aeasj-261	379	16	,	,	PUNCT
aeasj-261	379	17	g.a	g.a	PROPN
aeasj-261	379	18	.	.	PROPN
aeasj-261	379	19	and	and	CCONJ
aeasj-261	379	20	soliman	soliman	PROPN
aeasj-261	379	21	,	,	PUNCT
aeasj-261	379	22	a.m.	a.m.	PROPN
aeasj-261	379	23	(	(	PUNCT
aeasj-261	379	24	2002	2002	NUM
aeasj-261	379	25	)	)	PUNCT
aeasj-261	379	26	.	.	PUNCT
aeasj-261	380	1	stock	stock	NOUN
aeasj-261	380	2	market	market	NOUN
aeasj-261	380	3	development	development	NOUN
aeasj-261	380	4	and	and	CCONJ
aeasj-261	380	5	economic	economic	ADJ
aeasj-261	380	6	growth	growth	NOUN
aeasj-261	380	7	:	:	PUNCT
aeasj-261	380	8	the	the	DET
aeasj-261	380	9	causal	causal	ADJ
aeasj-261	380	10	linkage	linkage	NOUN
aeasj-261	380	11	:	:	PUNCT
aeasj-261	380	12	discussion	discussion	NOUN
aeasj-261	380	13	paper	paper	NOUN
aeasj-261	380	14	,	,	PUNCT
aeasj-261	380	15	centre	centre	NOUN
aeasj-261	380	16	of	of	ADP
aeasj-261	380	17	monetary	monetary	ADJ
aeasj-261	380	18	and	and	CCONJ
aeasj-261	380	19	financial	financial	ADJ
aeasj-261	380	20	economics	economic	NOUN
aeasj-261	380	21	,	,	PUNCT
aeasj-261	380	22	south	south	PROPN
aeasj-261	380	23	bank	bank	PROPN
aeasj-261	380	24	university	university	PROPN
aeasj-261	380	25	london	london	PROPN
aeasj-261	380	26	.	.	PUNCT
aeasj-261	381	1	copyright	copyright	NOUN
aeasj-261	381	2	©	©	PROPN
aeasj-261	381	3	cc	cc	PROPN
aeasj-261	381	4	-	-	PUNCT
aeasj-261	381	5	by	by	ADP
aeasj-261	381	6	-	-	PUNCT
aeasj-261	381	7	nc	nc	PROPN
aeasj-261	381	8	2019	2019	NUM
aeasj-261	381	9	,	,	PUNCT
aeasj-261	381	10	cribfb	cribfb	PROPN
aeasj-261	381	11	|	|	ADV
aeasj-261	381	12	afbr	afbr	PROPN
aeasj-261	381	13	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	381	14	american	american	PROPN
aeasj-261	381	15	economic	economic	PROPN
aeasj-261	381	16	&	&	CCONJ
aeasj-261	381	17	social	social	PROPN
aeasj-261	381	18	review	review	PROPN
aeasj-261	381	19	vol	vol	NOUN
aeasj-261	381	20	.	.	PROPN
aeasj-261	382	1	5	5	NUM
aeasj-261	382	2	,	,	PUNCT
aeasj-261	382	3	no	no	INTJ
aeasj-261	382	4	.	.	NOUN
aeasj-261	382	5	1	1	NUM
aeasj-261	382	6	;	;	PUNCT
aeasj-261	382	7	2019	2019	NUM
aeasj-261	382	8	46	46	NUM
aeasj-261	382	9	cental	cental	PROPN
aeasj-261	382	10	bank	bank	PROPN
aeasj-261	382	11	of	of	ADP
aeasj-261	382	12	nigeria	nigeria	PROPN
aeasj-261	382	13	statistical	statistical	ADJ
aeasj-261	382	14	bulletin	bulletin	NOUN
aeasj-261	382	15	,	,	PUNCT
aeasj-261	382	16	various	various	ADJ
aeasj-261	382	17	issues	issue	NOUN
aeasj-261	382	18	.	.	PUNCT
aeasj-261	383	1	demirguc	demirguc	PROPN
aeasj-261	383	2	-	-	PUNCT
aeasj-261	383	3	kunt	kunt	PROPN
aeasj-261	383	4	,	,	PUNCT
aeasj-261	383	5	a.	a.	NOUN
aeasj-261	383	6	and	and	CCONJ
aeasj-261	383	7	levine	levine	PROPN
aeasj-261	383	8	,	,	PUNCT
aeasj-261	383	9	r.	r.	PROPN
aeasj-261	383	10	(	(	PUNCT
aeasj-261	383	11	1996	1996	NUM
aeasj-261	383	12	)	)	PUNCT
aeasj-261	383	13	.	.	PUNCT
aeasj-261	384	1	stock	stock	NOUN
aeasj-261	384	2	markets	market	NOUN
aeasj-261	384	3	,	,	PUNCT
aeasj-261	384	4	corporate	corporate	ADJ
aeasj-261	384	5	finance	finance	NOUN
aeasj-261	384	6	and	and	CCONJ
aeasj-261	384	7	economic	economic	ADJ
aeasj-261	384	8	growth	growth	NOUN
aeasj-261	384	9	:	:	PUNCT
aeasj-261	384	10	an	an	DET
aeasj-261	384	11	overview	overview	NOUN
aeasj-261	384	12	,	,	PUNCT
aeasj-261	384	13	world	world	PROPN
aeasj-261	384	14	bank	bank	PROPN
aeasj-261	384	15	economic	economic	PROPN
aeasj-261	384	16	review	review	PROPN
aeasj-261	384	17	,	,	PUNCT
aeasj-261	384	18	vol	vol	NOUN
aeasj-261	384	19	.	.	PROPN
aeasj-261	385	1	10	10	NUM
aeasj-261	385	2	,	,	PUNCT
aeasj-261	385	3	no	no	INTJ
aeasj-261	385	4	.	.	NOUN
aeasj-261	385	5	2	2	NUM
aeasj-261	385	6	,	,	PUNCT
aeasj-261	385	7	pp.223–239	pp.223–239	PROPN
aeasj-261	385	8	.	.	PROPN
aeasj-261	385	9	demirguc	demirguc	PROPN
aeasj-261	385	10	-	-	PUNCT
aeasj-261	385	11	kunt	kunt	PROPN
aeasj-261	385	12	,	,	PUNCT
aeasj-261	385	13	a.	a.	NOUN
aeasj-261	385	14	and	and	CCONJ
aeasj-261	385	15	levine	levine	PROPN
aeasj-261	385	16	,	,	PUNCT
aeasj-261	385	17	r.	r.	PROPN
aeasj-261	385	18	(	(	PUNCT
aeasj-261	385	19	2001	2001	NUM
aeasj-261	385	20	)	)	PUNCT
aeasj-261	385	21	.	.	PUNCT
aeasj-261	386	1	financial	financial	ADJ
aeasj-261	386	2	structures	structure	NOUN
aeasj-261	386	3	and	and	CCONJ
aeasj-261	386	4	economic	economic	ADJ
aeasj-261	386	5	growth	growth	NOUN
aeasj-261	386	6	:	:	PUNCT
aeasj-261	386	7	a	a	DET
aeasj-261	386	8	cross	cross	ADJ
aeasj-261	386	9	-	-	ADJ
aeasj-261	386	10	country	country	ADJ
aeasj-261	386	11	comparison	comparison	NOUN
aeasj-261	386	12	of	of	ADP
aeasj-261	386	13	banks	bank	NOUN
aeasj-261	386	14	,	,	PUNCT
aeasj-261	386	15	markets	market	NOUN
aeasj-261	386	16	and	and	CCONJ
aeasj-261	386	17	development	development	NOUN
aeasj-261	386	18	,	,	PUNCT
aeasj-261	386	19	cambridge	cambridge	PROPN
aeasj-261	386	20	,	,	PUNCT
aeasj-261	386	21	mass.:mit	mass.:mit	PROPN
aeasj-261	386	22	press	press	NOUN
aeasj-261	386	23	.	.	PUNCT
aeasj-261	387	1	dickey	dickey	PROPN
aeasj-261	387	2	,	,	PUNCT
aeasj-261	387	3	d.	d.	PROPN
aeasj-261	387	4	a.	a.	NOUN
aeasj-261	387	5	and	and	CCONJ
aeasj-261	387	6	fuller	full	ADJ
aeasj-261	387	7	,	,	PUNCT
aeasj-261	387	8	w.	w.	PROPN
aeasj-261	387	9	a	a	PRON
aeasj-261	387	10	(	(	PUNCT
aeasj-261	387	11	1979	1979	NUM
aeasj-261	387	12	)	)	PUNCT
aeasj-261	387	13	.	.	PUNCT
aeasj-261	388	1	distributions	distribution	NOUN
aeasj-261	388	2	of	of	ADP
aeasj-261	388	3	the	the	DET
aeasj-261	388	4	estimators	estimator	NOUN
aeasj-261	388	5	for	for	ADP
aeasj-261	388	6	autoregressive	autoregressive	ADJ
aeasj-261	388	7	time	time	NOUN
aeasj-261	388	8	series	series	NOUN
aeasj-261	388	9	with	with	ADP
aeasj-261	388	10	a	a	DET
aeasj-261	388	11	unit	unit	NOUN
aeasj-261	388	12	root	root	NOUN
aeasj-261	388	13	.	.	PUNCT
aeasj-261	389	1	journal	journal	PROPN
aeasj-261	389	2	of	of	ADP
aeasj-261	389	3	american	american	PROPN
aeasj-261	389	4	statistical	statistical	ADJ
aeasj-261	389	5	association	association	NOUN
aeasj-261	389	6	,	,	PUNCT
aeasj-261	389	7	74	74	NUM
aeasj-261	389	8	,	,	PUNCT
aeasj-261	389	9	427–431	427–431	NUM
aeasj-261	389	10	.	.	PUNCT
aeasj-261	390	1	gerschenkron	gerschenkron	NOUN
aeasj-261	390	2	,	,	PUNCT
aeasj-261	390	3	a.	a.	NOUN
aeasj-261	390	4	(	(	PUNCT
aeasj-261	390	5	1962	1962	NUM
aeasj-261	390	6	)	)	PUNCT
aeasj-261	390	7	.	.	PUNCT
aeasj-261	391	1	economic	economic	ADJ
aeasj-261	391	2	backwardness	backwardness	NOUN
aeasj-261	391	3	in	in	ADP
aeasj-261	391	4	historical	historical	ADJ
aeasj-261	391	5	perspective	perspective	NOUN
aeasj-261	391	6	,	,	PUNCT
aeasj-261	391	7	a	a	DET
aeasj-261	391	8	book	book	NOUN
aeasj-261	391	9	of	of	ADP
aeasj-261	391	10	essays	essay	NOUN
aeasj-261	391	11	.	.	PUNCT
aeasj-261	392	1	cambridge	cambridge	PROPN
aeasj-261	392	2	,	,	PUNCT
aeasj-261	392	3	mass	mass	PROPN
aeasj-261	392	4	:	:	PUNCT
aeasj-261	392	5	harvard	harvard	PROPN
aeasj-261	392	6	university	university	PROPN
aeasj-261	392	7	press	press	PROPN
aeasj-261	392	8	,	,	PUNCT
aeasj-261	392	9	cambridge	cambridge	PROPN
aeasj-261	392	10	,	,	PUNCT
aeasj-261	392	11	ma	ma	PROPN
aeasj-261	392	12	.	.	PROPN
aeasj-261	392	13	goldsmith	goldsmith	PROPN
aeasj-261	392	14	,	,	PUNCT
aeasj-261	392	15	r.	r.	PROPN
aeasj-261	392	16	(	(	PUNCT
aeasj-261	392	17	1969	1969	NUM
aeasj-261	392	18	)	)	PUNCT
aeasj-261	392	19	.	.	PUNCT
aeasj-261	393	1	financial	financial	ADJ
aeasj-261	393	2	structure	structure	NOUN
aeasj-261	393	3	and	and	CCONJ
aeasj-261	393	4	development	development	NOUN
aeasj-261	393	5	,	,	PUNCT
aeasj-261	393	6	new	new	ADJ
aeasj-261	393	7	haven	haven	NOUN
aeasj-261	393	8	,	,	PUNCT
aeasj-261	393	9	yale	yale	PROPN
aeasj-261	393	10	university	university	PROPN
aeasj-261	393	11	press	press	NOUN
aeasj-261	393	12	,	,	PUNCT
aeasj-261	393	13	cy	cy	PROPN
aeasj-261	393	14	.	.	PROPN
aeasj-261	393	15	harris	harris	PROPN
aeasj-261	393	16	,	,	PUNCT
aeasj-261	393	17	r.	r.	PROPN
aeasj-261	393	18	d.	d.	PROPN
aeasj-261	393	19	f.	f.	PROPN
aeasj-261	393	20	(	(	PUNCT
aeasj-261	393	21	1997	1997	NUM
aeasj-261	393	22	)	)	PUNCT
aeasj-261	393	23	.	.	PUNCT
aeasj-261	394	1	stock	stock	NOUN
aeasj-261	394	2	markets	market	NOUN
aeasj-261	394	3	and	and	CCONJ
aeasj-261	394	4	development	development	NOUN
aeasj-261	394	5	:	:	PUNCT
aeasj-261	394	6	a	a	DET
aeasj-261	394	7	reassessment	reassessment	NOUN
aeasj-261	394	8	.	.	PUNCT
aeasj-261	395	1	european	european	ADJ
aeasj-261	395	2	economic	economic	PROPN
aeasj-261	395	3	review	review	PROPN
aeasj-261	395	4	,	,	PUNCT
aeasj-261	395	5	41	41	NUM
aeasj-261	395	6	:	:	SYM
aeasj-261	395	7	139146	139146	NUM
aeasj-261	395	8	.	.	PUNCT
aeasj-261	396	1	hellwig	hellwig	PROPN
aeasj-261	396	2	,	,	PUNCT
aeasj-261	396	3	m.	m.	NOUN
aeasj-261	396	4	(	(	PUNCT
aeasj-261	396	5	1991	1991	NUM
aeasj-261	396	6	)	)	PUNCT
aeasj-261	396	7	.	.	PUNCT
aeasj-261	397	1	banking	banking	NOUN
aeasj-261	397	2	,	,	PUNCT
aeasj-261	397	3	financial	financial	ADJ
aeasj-261	397	4	intermediation	intermediation	NOUN
aeasj-261	397	5	and	and	CCONJ
aeasj-261	397	6	corporate	corporate	ADJ
aeasj-261	397	7	finance	finance	NOUN
aeasj-261	397	8	.	.	PUNCT
aeasj-261	398	1	european	european	ADJ
aeasj-261	398	2	financial	financial	ADJ
aeasj-261	398	3	integration	integration	NOUN
aeasj-261	398	4	,	,	PUNCT
aeasj-261	398	5	35	35	NUM
aeasj-261	398	6	,	,	PUNCT
aeasj-261	398	7	63	63	NUM
aeasj-261	398	8	hellwig	hellwig	NOUN
aeasj-261	398	9	,	,	PUNCT
aeasj-261	398	10	m.	m.	NOUN
aeasj-261	398	11	(	(	PUNCT
aeasj-261	398	12	1998	1998	NUM
aeasj-261	398	13	)	)	PUNCT
aeasj-261	398	14	.	.	PUNCT
aeasj-261	399	1	on	on	ADP
aeasj-261	399	2	the	the	DET
aeasj-261	399	3	economics	economic	NOUN
aeasj-261	399	4	and	and	CCONJ
aeasj-261	399	5	politics	politic	NOUN
aeasj-261	399	6	of	of	ADP
aeasj-261	399	7	corporate	corporate	ADJ
aeasj-261	399	8	finance	finance	NOUN
aeasj-261	399	9	and	and	CCONJ
aeasj-261	399	10	corporate	corporate	ADJ
aeasj-261	399	11	control	control	NOUN
aeasj-261	399	12	,	,	PUNCT
aeasj-261	399	13	sonderforschungsbereich	sonderforschungsbereich	PRON
aeasj-261	399	14	504	504	NUM
aeasj-261	399	15	publications	publication	NOUN
aeasj-261	399	16	,	,	PUNCT
aeasj-261	399	17	university	university	NOUN
aeasj-261	399	18	of	of	ADP
aeasj-261	399	19	mannheim	mannheim	PROPN
aeasj-261	399	20	.	.	PUNCT
aeasj-261	400	1	hoshi	hoshi	PROPN
aeasj-261	400	2	,	,	PUNCT
aeasj-261	400	3	t.	t.	PROPN
aeasj-261	400	4	,	,	PUNCT
aeasj-261	400	5	kashyap	kashyap	PROPN
aeasj-261	400	6	,	,	PUNCT
aeasj-261	400	7	a.and	a.and	CCONJ
aeasj-261	400	8	scharfstein	scharfstein	PROPN
aeasj-261	400	9	,	,	PUNCT
aeasj-261	400	10	d.	d.	PROPN
aeasj-261	400	11	(	(	PUNCT
aeasj-261	400	12	1991	1991	NUM
aeasj-261	400	13	)	)	PUNCT
aeasj-261	400	14	.	.	PUNCT
aeasj-261	401	1	corporate	corporate	ADJ
aeasj-261	401	2	structure	structure	NOUN
aeasj-261	401	3	,	,	PUNCT
aeasj-261	401	4	liquidity	liquidity	NOUN
aeasj-261	401	5	and	and	CCONJ
aeasj-261	401	6	investment	investment	NOUN
aeasj-261	401	7	:	:	PUNCT
aeasj-261	401	8	evidence	evidence	NOUN
aeasj-261	401	9	from	from	ADP
aeasj-261	401	10	japanese	japanese	ADJ
aeasj-261	401	11	industrial	industrial	ADJ
aeasj-261	401	12	groups	group	NOUN
aeasj-261	401	13	.	.	PUNCT
aeasj-261	402	1	quarterly	quarterly	ADJ
aeasj-261	402	2	journal	journal	NOUN
aeasj-261	402	3	of	of	ADP
aeasj-261	402	4	business	business	NOUN
aeasj-261	402	5	and	and	CCONJ
aeasj-261	402	6	economics	economic	NOUN
aeasj-261	402	7	,	,	PUNCT
aeasj-261	402	8	106	106	NUM
aeasj-261	402	9	:	:	PUNCT
aeasj-261	402	10	678	678	NUM
aeasj-261	402	11	-	-	SYM
aeasj-261	402	12	709	709	NUM
aeasj-261	402	13	.	.	PUNCT
aeasj-261	403	1	johansen	johansen	PROPN
aeasj-261	403	2	,	,	PUNCT
aeasj-261	403	3	s.	s.	PROPN
aeasj-261	403	4	and	and	CCONJ
aeasj-261	403	5	juselius	juselius	PROPN
aeasj-261	403	6	,	,	PUNCT
aeasj-261	403	7	k.(1991	k.(1991	PROPN
aeasj-261	403	8	)	)	PUNCT
aeasj-261	403	9	.	.	PUNCT
aeasj-261	404	1	testing	test	VERB
aeasj-261	404	2	structural	structural	ADJ
aeasj-261	404	3	hypothesis	hypothesis	NOUN
aeasj-261	404	4	in	in	ADP
aeasj-261	404	5	a	a	DET
aeasj-261	404	6	multivariate	multivariate	NOUN
aeasj-261	404	7	cointegration	cointegration	NOUN
aeasj-261	404	8	analysis	analysis	NOUN
aeasj-261	404	9	.	.	PUNCT
aeasj-261	405	1	journal	journal	PROPN
aeasj-261	405	2	of	of	ADP
aeasj-261	405	3	econometrics	econometric	NOUN
aeasj-261	405	4	,	,	PUNCT
aeasj-261	405	5	vol	vol	NOUN
aeasj-261	405	6	.	.	PROPN
aeasj-261	406	1	53	53	NUM
aeasj-261	406	2	,	,	PUNCT
aeasj-261	406	3	p.21	p.21	PROPN
aeasj-261	406	4	la	la	PROPN
aeasj-261	406	5	porta	porta	PROPN
aeasj-261	406	6	,	,	PUNCT
aeasj-261	406	7	r	r	NOUN
aeasj-261	406	8	,	,	PUNCT
aeasj-261	406	9	lopez	lopez	NOUN
aeasj-261	406	10	-	-	PUNCT
aeasj-261	406	11	de	de	NOUN
aeasj-261	406	12	-	-	NOUN
aeasj-261	406	13	silanes	silanes	PROPN
aeasj-261	406	14	,	,	PUNCT
aeasj-261	406	15	f.	f.	PROPN
aeasj-261	406	16	,	,	PUNCT
aeasj-261	406	17	shleifer	shleifer	VERB
aeasj-261	406	18	,	,	PUNCT
aeasj-261	406	19	a.	a.	NOUN
aeasj-261	406	20	and	and	CCONJ
aeasj-261	406	21	vishny	vishny	PROPN
aeasj-261	406	22	,	,	PUNCT
aeasj-261	406	23	r.w	r.w	PROPN
aeasj-261	406	24	.	.	PROPN
aeasj-261	406	25	(	(	PUNCT
aeasj-261	406	26	1997	1997	NUM
aeasj-261	406	27	)	)	PUNCT
aeasj-261	406	28	.	.	PUNCT
aeasj-261	407	1	legal	legal	ADJ
aeasj-261	407	2	determinants	determinant	NOUN
aeasj-261	407	3	of	of	ADP
aeasj-261	407	4	external	external	ADJ
aeasj-261	407	5	finance	finance	NOUN
aeasj-261	407	6	.	.	PUNCT
aeasj-261	408	1	journal	journal	PROPN
aeasj-261	408	2	of	of	ADP
aeasj-261	408	3	finance	finance	NOUN
aeasj-261	408	4	,	,	PUNCT
aeasj-261	408	5	52	52	NUM
aeasj-261	408	6	:	:	SYM
aeasj-261	408	7	1131	1131	NUM
aeasj-261	408	8	-	-	SYM
aeasj-261	408	9	1150	1150	NUM
aeasj-261	408	10	.	.	PUNCT
aeasj-261	409	1	la	la	PROPN
aeasj-261	409	2	porta	porta	PROPN
aeasj-261	409	3	,	,	PUNCT
aeasj-261	409	4	r.	r.	PROPN
aeasj-261	409	5	,	,	PUNCT
aeasj-261	409	6	lopez	lopez	NOUN
aeasj-261	409	7	-	-	PUNCT
aeasj-261	409	8	de	de	NOUN
aeasj-261	409	9	-	-	NOUN
aeasj-261	409	10	silanes	silanes	PROPN
aeasj-261	409	11	,	,	PUNCT
aeasj-261	409	12	f.	f.	PROPN
aeasj-261	409	13	,	,	PUNCT
aeasj-261	409	14	shleifer	shleifer	VERB
aeasj-261	409	15	,	,	PUNCT
aeasj-261	409	16	a.	a.	NOUN
aeasj-261	409	17	and	and	CCONJ
aeasj-261	409	18	vishny	vishny	PROPN
aeasj-261	409	19	,	,	PUNCT
aeasj-261	409	20	r.	r.	PROPN
aeasj-261	409	21	w.	w.	PROPN
aeasj-261	409	22	(	(	PUNCT
aeasj-261	409	23	1998	1998	NUM
aeasj-261	409	24	)	)	PUNCT
aeasj-261	409	25	.	.	PUNCT
aeasj-261	410	1	law	law	NOUN
aeasj-261	410	2	and	and	CCONJ
aeasj-261	410	3	finance	finance	NOUN
aeasj-261	410	4	.	.	PUNCT
aeasj-261	411	1	journal	journal	NOUN
aeasj-261	411	2	of	of	ADP
aeasj-261	411	3	political	political	ADJ
aeasj-261	411	4	economy	economy	NOUN
aeasj-261	411	5	,	,	PUNCT
aeasj-261	411	6	106(6	106(6	NUM
aeasj-261	411	7	):	):	PUNCT
aeasj-261	411	8	1113	1113	NUM
aeasj-261	411	9	-	-	SYM
aeasj-261	411	10	1155	1155	NUM
aeasj-261	411	11	levine	levine	PROPN
aeasj-261	411	12	,	,	PUNCT
aeasj-261	411	13	r.	r.	PROPN
aeasj-261	411	14	(	(	PUNCT
aeasj-261	411	15	1997	1997	NUM
aeasj-261	411	16	)	)	PUNCT
aeasj-261	411	17	.	.	PUNCT
aeasj-261	412	1	financial	financial	ADJ
aeasj-261	412	2	development	development	NOUN
aeasj-261	412	3	and	and	CCONJ
aeasj-261	412	4	economic	economic	ADJ
aeasj-261	412	5	growth	growth	NOUN
aeasj-261	412	6	:	:	PUNCT
aeasj-261	412	7	views	view	NOUN
aeasj-261	412	8	and	and	CCONJ
aeasj-261	412	9	agenda	agenda	NOUN
aeasj-261	412	10	.	.	PUNCT
aeasj-261	413	1	journal	journal	PROPN
aeasj-261	413	2	of	of	ADP
aeasj-261	413	3	economic	economic	ADJ
aeasj-261	413	4	literature	literature	NOUN
aeasj-261	413	5	,	,	PUNCT
aeasj-261	413	6	vol	vol	NOUN
aeasj-261	413	7	.	.	PROPN
aeasj-261	413	8	35	35	NUM
aeasj-261	413	9	,	,	PUNCT
aeasj-261	413	10	no	no	INTJ
aeasj-261	413	11	.	.	NOUN
aeasj-261	413	12	2	2	NUM
aeasj-261	413	13	,	,	PUNCT
aeasj-261	413	14	pp.688–726	pp.688–726	PROPN
aeasj-261	413	15	.	.	PROPN
aeasj-261	413	16	levine	levine	PROPN
aeasj-261	413	17	,	,	PUNCT
aeasj-261	413	18	r.	r.	PROPN
aeasj-261	413	19	(	(	PUNCT
aeasj-261	413	20	2001	2001	NUM
aeasj-261	413	21	)	)	PUNCT
aeasj-261	413	22	.	.	PUNCT
aeasj-261	414	1	international	international	ADJ
aeasj-261	414	2	financial	financial	ADJ
aeasj-261	414	3	liberalization	liberalization	NOUN
aeasj-261	414	4	and	and	CCONJ
aeasj-261	414	5	economic	economic	ADJ
aeasj-261	414	6	growth	growth	NOUN
aeasj-261	414	7	.	.	PUNCT
aeasj-261	415	1	review	review	NOUN
aeasj-261	415	2	of	of	ADP
aeasj-261	415	3	international	international	ADJ
aeasj-261	415	4	economics	economic	NOUN
aeasj-261	415	5	,	,	PUNCT
aeasj-261	415	6	9	9	NUM
aeasj-261	415	7	,	,	PUNCT
aeasj-261	415	8	688	688	NUM
aeasj-261	415	9	-	-	SYM
aeasj-261	415	10	702	702	NUM
aeasj-261	415	11	levine	levine	NOUN
aeasj-261	415	12	,	,	PUNCT
aeasj-261	415	13	r.	r.	PROPN
aeasj-261	415	14	(	(	PUNCT
aeasj-261	415	15	2002	2002	NUM
aeasj-261	415	16	)	)	PUNCT
aeasj-261	415	17	bank	bank	NOUN
aeasj-261	415	18	based	base	VERB
aeasj-261	415	19	or	or	CCONJ
aeasj-261	415	20	market	market	NOUN
aeasj-261	415	21	based	base	VERB
aeasj-261	415	22	financial	financial	ADJ
aeasj-261	415	23	system	system	NOUN
aeasj-261	415	24	which	which	PRON
aeasj-261	415	25	is	be	AUX
aeasj-261	415	26	better	well	ADJ
aeasj-261	415	27	?	?	PUNCT
aeasj-261	415	28	,	,	PUNCT
aeasj-261	415	29	working	work	VERB
aeasj-261	415	30	paper	paper	NOUN
aeasj-261	415	31	carlson	carlson	PROPN
aeasj-261	415	32	school	school	PROPN
aeasj-261	415	33	university	university	PROPN
aeasj-261	415	34	of	of	ADP
aeasj-261	415	35	minnesota	minnesota	PROPN
aeasj-261	415	36	.	.	PUNCT
aeasj-261	416	1	levine	levine	PROPN
aeasj-261	416	2	,	,	PUNCT
aeasj-261	416	3	r.	r.	PROPN
aeasj-261	416	4	(	(	PUNCT
aeasj-261	416	5	2003	2003	NUM
aeasj-261	416	6	)	)	PUNCT
aeasj-261	416	7	.	.	PUNCT
aeasj-261	417	1	more	more	ADJ
aeasj-261	417	2	on	on	ADP
aeasj-261	417	3	finance	finance	NOUN
aeasj-261	417	4	and	and	CCONJ
aeasj-261	417	5	growth	growth	NOUN
aeasj-261	417	6	:	:	PUNCT
aeasj-261	417	7	more	more	ADJ
aeasj-261	417	8	finance	finance	NOUN
aeasj-261	417	9	more	more	ADJ
aeasj-261	417	10	growth	growth	NOUN
aeasj-261	417	11	?	?	PUNCT
aeasj-261	418	1	federal	federal	PROPN
aeasj-261	418	2	reserve	reserve	PROPN
aeasj-261	418	3	bank	bank	PROPN
aeasj-261	418	4	of	of	ADP
aeasj-261	418	5	st	st	PROPN
aeasj-261	418	6	.	.	PROPN
aeasj-261	418	7	louis	louis	PROPN
aeasj-261	418	8	review	review	PROPN
aeasj-261	418	9	,	,	PUNCT
aeasj-261	418	10	85	85	NUM
aeasj-261	418	11	(	(	PUNCT
aeasj-261	418	12	4	4	NUM
aeasj-261	418	13	):	):	PUNCT
aeasj-261	418	14	31	31	NUM
aeasj-261	418	15	-	-	SYM
aeasj-261	418	16	46	46	NUM
aeasj-261	418	17	.	.	PUNCT
aeasj-261	419	1	levine	levine	PROPN
aeasj-261	419	2	,	,	PUNCT
aeasj-261	419	3	r.	r.	PROPN
aeasj-261	419	4	and	and	CCONJ
aeasj-261	419	5	zervos	zervos	PROPN
aeasj-261	419	6	,	,	PUNCT
aeasj-261	419	7	s.	s.	PROPN
aeasj-261	419	8	(	(	PUNCT
aeasj-261	419	9	1998	1998	NUM
aeasj-261	419	10	)	)	PUNCT
aeasj-261	419	11	.	.	PUNCT
aeasj-261	420	1	stock	stock	NOUN
aeasj-261	420	2	markets	market	NOUN
aeasj-261	420	3	,	,	PUNCT
aeasj-261	420	4	banks	bank	NOUN
aeasj-261	420	5	and	and	CCONJ
aeasj-261	420	6	economic	economic	ADJ
aeasj-261	420	7	growth	growth	NOUN
aeasj-261	420	8	.	.	PUNCT
aeasj-261	421	1	american	american	PROPN
aeasj-261	421	2	economic	economic	PROPN
aeasj-261	421	3	review	review	PROPN
aeasj-261	421	4	,	,	PUNCT
aeasj-261	421	5	88	88	NUM
aeasj-261	421	6	(	(	PUNCT
aeasj-261	421	7	3	3	NUM
aeasj-261	421	8	):	):	PUNCT
aeasj-261	421	9	537	537	NUM
aeasj-261	421	10	-	-	SYM
aeasj-261	421	11	558	558	NUM
aeasj-261	421	12	.	.	PUNCT
aeasj-261	422	1	luintel	luintel	NOUN
aeasj-261	422	2	,	,	PUNCT
aeasj-261	422	3	k.	k.	PROPN
aeasj-261	422	4	b.	b.	PROPN
aeasj-261	422	5	and	and	CCONJ
aeasj-261	422	6	khan	khan	PROPN
aeasj-261	422	7	,	,	PUNCT
aeasj-261	422	8	m.	m.	NOUN
aeasj-261	422	9	(	(	PUNCT
aeasj-261	422	10	2002	2002	NUM
aeasj-261	422	11	)	)	PUNCT
aeasj-261	422	12	.	.	PUNCT
aeasj-261	422	13	are	be	AUX
aeasj-261	422	14	international	international	ADJ
aeasj-261	422	15	r&d	r&d	NOUN
aeasj-261	422	16	spillovers	spillover	NOUN
aeasj-261	422	17	costly	costly	ADJ
aeasj-261	422	18	for	for	ADP
aeasj-261	422	19	the	the	DET
aeasj-261	422	20	u.s	u.s	PROPN
aeasj-261	422	21	.	.	PROPN
aeasj-261	422	22	?	?	PUNCT
aeasj-261	423	1	discussion	discussion	NOUN
aeasj-261	423	2	paper	paper	NOUN
aeasj-261	423	3	,	,	PUNCT
aeasj-261	423	4	department	department	NOUN
aeasj-261	423	5	of	of	ADP
aeasj-261	423	6	economics	economic	NOUN
aeasj-261	423	7	and	and	CCONJ
aeasj-261	423	8	finance	finance	NOUN
aeasj-261	423	9	:	:	PUNCT
aeasj-261	423	10	brunel	brunel	PROPN
aeasj-261	423	11	university	university	PROPN
aeasj-261	423	12	.	.	PUNCT
aeasj-261	424	1	luintel	luintel	PROPN
aeasj-261	424	2	,	,	PUNCT
aeasj-261	424	3	k.	k.	PROPN
aeasj-261	424	4	b.	b.	PROPN
aeasj-261	424	5	,	,	PUNCT
aeasj-261	424	6	khan	khan	PROPN
aeasj-261	424	7	,	,	PUNCT
aeasj-261	424	8	m.	m.	NOUN
aeasj-261	424	9	,	,	PUNCT
aeasj-261	424	10	arestis	arestis	PROPN
aeasj-261	424	11	,	,	PUNCT
aeasj-261	424	12	p.	p.	NOUN
aeasj-261	424	13	and	and	CCONJ
aeasj-261	424	14	theodoridis	theodoridis	PROPN
aeasj-261	424	15	,	,	PUNCT
aeasj-261	424	16	k.(2008	k.(2008	PROPN
aeasj-261	424	17	)	)	PUNCT
aeasj-261	424	18	.	.	PUNCT
aeasj-261	425	1	financial	financial	ADJ
aeasj-261	425	2	structure	structure	NOUN
aeasj-261	425	3	and	and	CCONJ
aeasj-261	425	4	economic	economic	ADJ
aeasj-261	425	5	growth	growth	NOUN
aeasj-261	425	6	.	.	PUNCT
aeasj-261	426	1	cardiff	cardiff	ADJ
aeasj-261	426	2	economics	economic	NOUN
aeasj-261	426	3	working	work	VERB
aeasj-261	426	4	papers/	papers/	NUM
aeasj-261	426	5	cardiff	cardiff	NOUN
aeasj-261	426	6	business	business	NOUN
aeasj-261	426	7	school	school	NOUN
aeasj-261	426	8	working	working	PROPN
aeasj-261	426	9	paper	paper	NOUN
aeasj-261	426	10	series	series	NOUN
aeasj-261	426	11	,	,	PUNCT
aeasj-261	426	12	e2008/3	e2008/3	NOUN
aeasj-261	426	13	.	.	PUNCT
aeasj-261	427	1	merton	merton	PROPN
aeasj-261	427	2	,	,	PUNCT
aeasj-261	427	3	r.	r.	PROPN
aeasj-261	427	4	c.	c.	PROPN
aeasj-261	427	5	(	(	PUNCT
aeasj-261	427	6	1995	1995	NUM
aeasj-261	427	7	)	)	PUNCT
aeasj-261	427	8	.	.	PUNCT
aeasj-261	428	1	a	a	DET
aeasj-261	428	2	functional	functional	ADJ
aeasj-261	428	3	perspective	perspective	NOUN
aeasj-261	428	4	of	of	ADP
aeasj-261	428	5	financial	financial	ADJ
aeasj-261	428	6	intermediation	intermediation	NOUN
aeasj-261	428	7	.	.	PUNCT
aeasj-261	429	1	financial	financial	ADJ
aeasj-261	429	2	management	management	NOUN
aeasj-261	429	3	,	,	PUNCT
aeasj-261	429	4	24	24	NUM
aeasj-261	429	5	:	:	SYM
aeasj-261	429	6	23	23	NUM
aeasj-261	429	7	-	-	SYM
aeasj-261	429	8	41	41	NUM
aeasj-261	429	9	.	.	PUNCT
aeasj-261	430	1	merton	merton	PROPN
aeasj-261	430	2	,	,	PUNCT
aeasj-261	430	3	r.	r.	PROPN
aeasj-261	430	4	c.	c.	PROPN
aeasj-261	430	5	and	and	CCONJ
aeasj-261	430	6	bodi	bodi	PROPN
aeasj-261	430	7	,	,	PUNCT
aeasj-261	430	8	z.	z.	PROPN
aeasj-261	430	9	(	(	PUNCT
aeasj-261	430	10	1995	1995	NUM
aeasj-261	430	11	)	)	PUNCT
aeasj-261	430	12	.	.	PUNCT
aeasj-261	431	1	a	a	DET
aeasj-261	431	2	conceptual	conceptual	ADJ
aeasj-261	431	3	framework	framework	NOUN
aeasj-261	431	4	for	for	ADP
aeasj-261	431	5	analysing	analyse	VERB
aeasj-261	431	6	the	the	DET
aeasj-261	431	7	financial	financial	ADJ
aeasj-261	431	8	environment	environment	NOUN
aeasj-261	431	9	.	.	PUNCT
aeasj-261	432	1	in	in	ADP
aeasj-261	432	2	d.b	d.b	PROPN
aeasj-261	432	3	.	.	PROPN
aeasj-261	432	4	crane	crane	NOUN
aeasj-261	432	5	et	et	PROPN
aeasj-261	432	6	al	al	PROPN
aeasj-261	432	7	(	(	PUNCT
aeasj-261	432	8	eds	eds	PROPN
aeasj-261	432	9	.	.	PUNCT
aeasj-261	432	10	)	)	PUNCT
aeasj-261	432	11	,	,	PUNCT
aeasj-261	432	12	the	the	DET
aeasj-261	432	13	global	global	ADJ
aeasj-261	432	14	financial	financial	ADJ
aeasj-261	432	15	system	system	NOUN
aeasj-261	432	16	:	:	PUNCT
aeasj-261	432	17	a	a	DET
aeasj-261	432	18	functional	functional	ADJ
aeasj-261	432	19	perspective	perspective	NOUN
aeasj-261	432	20	.	.	PUNCT
aeasj-261	433	1	boston	boston	PROPN
aeasj-261	433	2	,	,	PUNCT
aeasj-261	433	3	mass	mass	PROPN
aeasj-261	433	4	.	.	PUNCT
aeasj-261	433	5	:	:	PUNCT
aeasj-261	434	1	harvard	harvard	PROPN
aeasj-261	434	2	business	business	PROPN
aeasj-261	434	3	school	school	PROPN
aeasj-261	434	4	.	.	PUNCT
aeasj-261	435	1	mork	mork	PROPN
aeasj-261	435	2	,	,	PUNCT
aeasj-261	435	3	r.	r.	PROPN
aeasj-261	435	4	and	and	CCONJ
aeasj-261	435	5	nakkamura	nakkamura	NOUN
aeasj-261	435	6	,	,	PUNCT
aeasj-261	435	7	m.	m.	NOUN
aeasj-261	435	8	(	(	PUNCT
aeasj-261	435	9	1999	1999	NUM
aeasj-261	435	10	)	)	PUNCT
aeasj-261	435	11	.	.	PUNCT
aeasj-261	436	1	banks	bank	NOUN
aeasj-261	436	2	and	and	CCONJ
aeasj-261	436	3	corporate	corporate	ADJ
aeasj-261	436	4	control	control	NOUN
aeasj-261	436	5	in	in	ADP
aeasj-261	436	6	japan	japan	PROPN
aeasj-261	436	7	.	.	PUNCT
aeasj-261	437	1	journal	journal	PROPN
aeasj-261	437	2	of	of	ADP
aeasj-261	437	3	finance	finance	NOUN
aeasj-261	437	4	,	,	PUNCT
aeasj-261	437	5	54	54	NUM
aeasj-261	437	6	:	:	PUNCT
aeasj-261	437	7	319	319	NUM
aeasj-261	437	8	-	-	SYM
aeasj-261	437	9	340	340	NUM
aeasj-261	437	10	.	.	PUNCT
aeasj-261	438	1	olofin	olofin	NOUN
aeasj-261	438	2	,	,	PUNCT
aeasj-261	438	3	s.o	s.o	NOUN
aeasj-261	438	4	and	and	CCONJ
aeasj-261	438	5	afangideh	afangideh	NOUN
aeasj-261	438	6	,	,	PUNCT
aeasj-261	438	7	u.j	u.j	PROPN
aeasj-261	438	8	.	.	PROPN
aeasj-261	438	9	(	(	PUNCT
aeasj-261	438	10	2009	2009	NUM
aeasj-261	438	11	)	)	PUNCT
aeasj-261	438	12	.	.	PUNCT
aeasj-261	439	1	financial	financial	ADJ
aeasj-261	439	2	structure	structure	NOUN
aeasj-261	439	3	and	and	CCONJ
aeasj-261	439	4	economic	economic	ADJ
aeasj-261	439	5	growth	growth	NOUN
aeasj-261	439	6	in	in	ADP
aeasj-261	439	7	nigeria	nigeria	PROPN
aeasj-261	439	8	:	:	PUNCT
aeasj-261	439	9	a	a	DET
aeasj-261	439	10	macroeconometric	macroeconometric	ADJ
aeasj-261	439	11	approach‖	approach‖	PROPN
aeasj-261	439	12	,	,	PUNCT
aeasj-261	439	13	centre	centre	NOUN
aeasj-261	439	14	for	for	ADP
aeasj-261	439	15	econometric	econometric	ADJ
aeasj-261	439	16	and	and	CCONJ
aeasj-261	439	17	allied	allied	ADJ
aeasj-261	439	18	research(cear	research(cear	PROPN
aeasj-261	439	19	)	)	PUNCT
aeasj-261	439	20	phillips	phillip	NOUN
aeasj-261	439	21	,	,	PUNCT
aeasj-261	439	22	p.	p.	NOUN
aeasj-261	439	23	,	,	PUNCT
aeasj-261	439	24	&	&	CCONJ
aeasj-261	439	25	p.	p.	PROPN
aeasj-261	439	26	perron	perron	PROPN
aeasj-261	439	27	,	,	PUNCT
aeasj-261	439	28	p.	p.	NOUN
aeasj-261	439	29	(	(	PUNCT
aeasj-261	439	30	1988	1988	NUM
aeasj-261	439	31	)	)	PUNCT
aeasj-261	439	32	.	.	PUNCT
aeasj-261	440	1	testing	test	VERB
aeasj-261	440	2	for	for	ADP
aeasj-261	440	3	a	a	DET
aeasj-261	440	4	unit	unit	NOUN
aeasj-261	440	5	root	root	NOUN
aeasj-261	440	6	in	in	ADP
aeasj-261	440	7	time	time	NOUN
aeasj-261	440	8	series	series	PROPN
aeasj-261	440	9	regression	regression	PROPN
aeasj-261	440	10	.	.	PUNCT
aeasj-261	441	1	biometrica	biometrica	PROPN
aeasj-261	441	2	,	,	PUNCT
aeasj-261	441	3	75	75	NUM
aeasj-261	441	4	,	,	PUNCT
aeasj-261	441	5	333–346	333–346	NUM
aeasj-261	441	6	.	.	PUNCT
aeasj-261	442	1	rajan	rajan	PROPN
aeasj-261	442	2	,	,	PUNCT
aeasj-261	442	3	r.	r.	PROPN
aeasj-261	442	4	(	(	PUNCT
aeasj-261	442	5	1992	1992	NUM
aeasj-261	442	6	)	)	PUNCT
aeasj-261	442	7	.	.	PUNCT
aeasj-261	443	1	insiders	insider	NOUN
aeasj-261	443	2	and	and	CCONJ
aeasj-261	443	3	outsiders	outsider	NOUN
aeasj-261	443	4	:	:	PUNCT
aeasj-261	443	5	the	the	DET
aeasj-261	443	6	choice	choice	NOUN
aeasj-261	443	7	between	between	ADP
aeasj-261	443	8	informed	informed	ADJ
aeasj-261	443	9	and	and	CCONJ
aeasj-261	443	10	armies	army	NOUN
aeasj-261	443	11	length	length	VERB
aeasj-261	443	12	debt	debt	NOUN
aeasj-261	443	13	.	.	PUNCT
aeasj-261	444	1	journal	journal	PROPN
aeasj-261	444	2	of	of	ADP
aeasj-261	444	3	finance	finance	NOUN
aeasj-261	444	4	,	,	PUNCT
aeasj-261	444	5	vol	vol	NOUN
aeasj-261	444	6	.	.	PROPN
aeasj-261	445	1	47	47	NUM
aeasj-261	445	2	,	,	PUNCT
aeasj-261	445	3	no	no	INTJ
aeasj-261	446	1	.	.	NOUN
aeasj-261	446	2	4	4	NUM
aeasj-261	446	3	,	,	PUNCT
aeasj-261	446	4	pp.1367–1400	pp.1367–1400	PROPN
aeasj-261	446	5	.	.	PUNCT
aeasj-261	446	6	saibu	saibu	PROPN
aeasj-261	446	7	,	,	PUNCT
aeasj-261	446	8	o	o	PROPN
aeasj-261	446	9	m	m	NOUN
aeasj-261	446	10	,	,	PUNCT
aeasj-261	446	11	bowale	bowale	NOUN
aeasj-261	446	12	,	,	PUNCT
aeasj-261	446	13	k.	k.	PROPN
aeasj-261	447	1	i	i	PRON
aeasj-261	447	2	e.	e.	PROPN
aeasj-261	447	3	and	and	CCONJ
aeasj-261	447	4	akinlo	akinlo	PROPN
aeasj-261	447	5	,	,	PUNCT
aeasj-261	447	6	a.	a.	PROPN
aeasj-261	447	7	e.	e.	PROPN
aeasj-261	447	8	(	(	PUNCT
aeasj-261	447	9	2009).financial	2009).financial	ADJ
aeasj-261	447	10	structure	structure	NOUN
aeasj-261	447	11	and	and	CCONJ
aeasj-261	447	12	economic	economic	ADJ
aeasj-261	447	13	growth	growth	NOUN
aeasj-261	447	14	:	:	PUNCT
aeasj-261	447	15	empirical	empirical	ADJ
aeasj-261	447	16	evidence	evidence	NOUN
aeasj-261	447	17	from	from	ADP
aeasj-261	447	18	nigeria	nigeria	PROPN
aeasj-261	447	19	.	.	PUNCT
aeasj-261	448	1	international	international	ADJ
aeasj-261	448	2	journal	journal	PROPN
aeasj-261	448	3	of	of	ADP
aeasj-261	448	4	business	business	NOUN
aeasj-261	448	5	and	and	CCONJ
aeasj-261	448	6	emerging	emerge	VERB
aeasj-261	448	7	markets	market	NOUN
aeasj-261	448	8	,	,	PUNCT
aeasj-261	448	9	vol	vol	NOUN
aeasj-261	448	10	.	.	PUNCT
aeasj-261	448	11	·	·	PUNCT
aeasj-261	449	1	january	january	NOUN
aeasj-261	449	2	,	,	PUNCT
aeasj-261	449	3	inderscience	inderscience	PROPN
aeasj-261	449	4	enterprises	enterprises	PROPN
aeasj-261	449	5	ltd	ltd	PROPN
aeasj-261	449	6	.	.	PROPN
aeasj-261	449	7	security	security	NOUN
aeasj-261	449	8	and	and	CCONJ
aeasj-261	449	9	exchange	exchange	PROPN
aeasj-261	449	10	commission	commission	NOUN
aeasj-261	449	11	statistical	statistical	ADJ
aeasj-261	449	12	bulletin	bulletin	NOUN
aeasj-261	449	13	(	(	PUNCT
aeasj-261	449	14	2017	2017	NUM
aeasj-261	449	15	)	)	PUNCT
aeasj-261	449	16	,	,	PUNCT
aeasj-261	449	17	vol	vol	NOUN
aeasj-261	449	18	.	.	PROPN
aeasj-261	449	19	1.2	1.2	NUM
aeasj-261	449	20	,	,	PUNCT
aeasj-261	449	21	june	june	PROPN
aeasj-261	449	22	.	.	PUNCT
aeasj-261	449	23	stiglitz	stiglitz	PROPN
aeasj-261	449	24	,	,	PUNCT
aeasj-261	449	25	j.	j.	PROPN
aeasj-261	449	26	e.	e.	PROPN
aeasj-261	449	27	(	(	PUNCT
aeasj-261	449	28	1985	1985	NUM
aeasj-261	449	29	)	)	PUNCT
aeasj-261	449	30	.	.	PUNCT
aeasj-261	450	1	credit	credit	NOUN
aeasj-261	450	2	markets	market	NOUN
aeasj-261	450	3	and	and	CCONJ
aeasj-261	450	4	the	the	DET
aeasj-261	450	5	control	control	NOUN
aeasj-261	450	6	of	of	ADP
aeasj-261	450	7	capital	capital	NOUN
aeasj-261	450	8	.	.	PUNCT
aeasj-261	451	1	journal	journal	PROPN
aeasj-261	451	2	of	of	ADP
aeasj-261	451	3	money	money	NOUN
aeasj-261	451	4	,	,	PUNCT
aeasj-261	451	5	credit	credit	NOUN
aeasj-261	451	6	and	and	CCONJ
aeasj-261	451	7	banking	banking	NOUN
aeasj-261	451	8	,	,	PUNCT
aeasj-261	451	9	17	17	NUM
aeasj-261	451	10	(	(	PUNCT
aeasj-261	451	11	1	1	NUM
aeasj-261	451	12	):	):	PUNCT
aeasj-261	451	13	133152	133152	NUM
aeasj-261	451	14	.	.	PUNCT
aeasj-261	452	1	copyright	copyright	NOUN
aeasj-261	452	2	©	©	PROPN
aeasj-261	452	3	cc	cc	PROPN
aeasj-261	452	4	-	-	PUNCT
aeasj-261	452	5	by	by	ADP
aeasj-261	452	6	-	-	PUNCT
aeasj-261	452	7	nc	nc	PROPN
aeasj-261	452	8	2019	2019	NUM
aeasj-261	452	9	,	,	PUNCT
aeasj-261	452	10	cribfb	cribfb	PROPN
aeasj-261	452	11	|	|	ADV
aeasj-261	452	12	afbr	afbr	PROPN
aeasj-261	452	13	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	452	14	american	american	PROPN
aeasj-261	452	15	economic	economic	PROPN
aeasj-261	452	16	&	&	CCONJ
aeasj-261	452	17	social	social	PROPN
aeasj-261	452	18	review	review	PROPN
aeasj-261	452	19	vol	vol	NOUN
aeasj-261	452	20	.	.	PROPN
aeasj-261	453	1	5	5	NUM
aeasj-261	453	2	,	,	PUNCT
aeasj-261	453	3	no	no	INTJ
aeasj-261	453	4	.	.	NOUN
aeasj-261	453	5	1	1	NUM
aeasj-261	453	6	;	;	PUNCT
aeasj-261	453	7	2019	2019	NUM
aeasj-261	453	8	47	47	NUM
aeasj-261	453	9	stulz	stulz	ADJ
aeasj-261	453	10	,	,	PUNCT
aeasj-261	453	11	r.	r.	PROPN
aeasj-261	453	12	m.	m.	PROPN
aeasj-261	453	13	(	(	PUNCT
aeasj-261	453	14	2000	2000	NUM
aeasj-261	453	15	)	)	PUNCT
aeasj-261	453	16	.	.	PUNCT
aeasj-261	454	1	financial	financial	ADJ
aeasj-261	454	2	structure	structure	NOUN
aeasj-261	454	3	,	,	PUNCT
aeasj-261	454	4	corporate	corporate	ADJ
aeasj-261	454	5	finance	finance	NOUN
aeasj-261	454	6	and	and	CCONJ
aeasj-261	454	7	economic	economic	ADJ
aeasj-261	454	8	growth.international	growth.international	PROPN
aeasj-261	454	9	review	review	NOUN
aeasj-261	454	10	of	of	ADP
aeasj-261	454	11	finance	finance	NOUN
aeasj-261	454	12	,	,	PUNCT
aeasj-261	454	13	1	1	NUM
aeasj-261	454	14	,	,	PUNCT
aeasj-261	454	15	11	11	NUM
aeasj-261	454	16	-	-	SYM
aeasj-261	454	17	38	38	NUM
aeasj-261	454	18	.	.	PUNCT
aeasj-261	455	1	stulz	stulz	ADJ
aeasj-261	455	2	,	,	PUNCT
aeasj-261	455	3	r.	r.	PROPN
aeasj-261	455	4	m.	m.	PROPN
aeasj-261	455	5	(	(	PUNCT
aeasj-261	455	6	2001	2001	NUM
aeasj-261	455	7	)	)	PUNCT
aeasj-261	455	8	.	.	PUNCT
aeasj-261	456	1	does	do	VERB
aeasj-261	456	2	financial	financial	ADJ
aeasj-261	456	3	structure	structure	NOUN
aeasj-261	456	4	matter	matter	NOUN
aeasj-261	456	5	for	for	ADP
aeasj-261	456	6	economic	economic	ADJ
aeasj-261	456	7	growth	growth	NOUN
aeasj-261	456	8	?	?	PUNCT
aeasj-261	457	1	a	a	DET
aeasj-261	457	2	corporate	corporate	ADJ
aeasj-261	457	3	finance	finance	NOUN
aeasj-261	457	4	perspective	perspective	NOUN
aeasj-261	457	5	.	.	PUNCT
aeasj-261	458	1	in	in	ADP
aeasj-261	458	2	financial	financial	ADJ
aeasj-261	458	3	structure	structure	NOUN
aeasj-261	458	4	and	and	CCONJ
aeasj-261	458	5	economic	economic	ADJ
aeasj-261	458	6	growth	growth	NOUN
aeasj-261	458	7	:	:	PUNCT
aeasj-261	458	8	a	a	DET
aeasj-261	458	9	cross	cross	ADJ
aeasj-261	458	10	-	-	ADJ
aeasj-261	458	11	country	country	ADJ
aeasj-261	458	12	comparison	comparison	NOUN
aeasj-261	458	13	of	of	ADP
aeasj-261	458	14	banks	bank	NOUN
aeasj-261	458	15	,	,	PUNCT
aeasj-261	458	16	markets	market	NOUN
aeasj-261	458	17	,	,	PUNCT
aeasj-261	458	18	and	and	CCONJ
aeasj-261	458	19	development	development	NOUN
aeasj-261	458	20	,	,	PUNCT
aeasj-261	458	21	eds	eds	PROPN
aeasj-261	458	22	.	.	PUNCT
aeasj-261	459	1	a	a	DET
aeasj-261	459	2	demirguc	demirguc	PROPN
aeasj-261	459	3	-	-	PUNCT
aeasj-261	459	4	kunt	kunt	PROPN
aeasj-261	459	5	,	,	PUNCT
aeasj-261	459	6	r	r	PROPN
aeasj-261	459	7	levine	levine	PROPN
aeasj-261	459	8	.	.	PUNCT
aeasj-261	460	1	cambridge	cambridge	PROPN
aeasj-261	460	2	,	,	PUNCT
aeasj-261	460	3	ma	ma	PROPN
aeasj-261	460	4	:	:	PUNCT
aeasj-261	460	5	mit	mit	PROPN
aeasj-261	460	6	press	press	NOUN
aeasj-261	460	7	.	.	PUNCT
aeasj-261	461	1	tadesse	tadesse	PROPN
aeasj-261	461	2	,	,	PUNCT
aeasj-261	461	3	s.	s.	PROPN
aeasj-261	461	4	(	(	PUNCT
aeasj-261	461	5	2000	2000	NUM
aeasj-261	461	6	)	)	PUNCT
aeasj-261	461	7	.	.	PUNCT
aeasj-261	462	1	financial	financial	ADJ
aeasj-261	462	2	architecture	architecture	NOUN
aeasj-261	462	3	and	and	CCONJ
aeasj-261	462	4	economic	economic	ADJ
aeasj-261	462	5	performance	performance	NOUN
aeasj-261	462	6	:	:	PUNCT
aeasj-261	462	7	international	international	ADJ
aeasj-261	462	8	evidence	evidence	NOUN
aeasj-261	462	9	,	,	PUNCT
aeasj-261	462	10	working	working	NOUN
aeasj-261	462	11	paper	paper	NOUN
aeasj-261	462	12	,	,	PUNCT
aeasj-261	462	13	university	university	PROPN
aeasj-261	462	14	of	of	ADP
aeasj-261	462	15	south	south	PROPN
aeasj-261	462	16	carolina	carolina	PROPN
aeasj-261	462	17	.	.	PUNCT
aeasj-261	463	1	ujunwa	ujunwa	PROPN
aeasj-261	463	2	,	,	PUNCT
aeasj-261	463	3	a.	a.	NOUN
aeasj-261	463	4	,	,	PUNCT
aeasj-261	463	5	salami	salami	NOUN
aeasj-261	463	6	,	,	PUNCT
aeasj-261	463	7	o.p	o.p	PROPN
aeasj-261	463	8	.	.	PROPN
aeasj-261	463	9	,	,	PUNCT
aeasj-261	463	10	nwakoby	nwakoby	PROPN
aeasj-261	463	11	,	,	PUNCT
aeasj-261	463	12	i.	i.	PROPN
aeasj-261	463	13	and	and	CCONJ
aeasj-261	463	14	umar	umar	PROPN
aeasj-261	463	15	,	,	PUNCT
aeasj-261	463	16	a.	a.	PROPN
aeasj-261	463	17	h.	h.	PROPN
aeasj-261	463	18	(	(	PUNCT
aeasj-261	463	19	2012	2012	NUM
aeasj-261	463	20	)	)	PUNCT
aeasj-261	463	21	.	.	PUNCT
aeasj-261	464	1	financial	financial	ADJ
aeasj-261	464	2	structure	structure	NOUN
aeasj-261	464	3	and	and	CCONJ
aeasj-261	464	4	economic	economic	ADJ
aeasj-261	464	5	growth	growth	NOUN
aeasj-261	464	6	in	in	ADP
aeasj-261	464	7	nigeria	nigeria	PROPN
aeasj-261	464	8	:	:	PUNCT
aeasj-261	464	9	theory	theory	NOUN
aeasj-261	464	10	and	and	CCONJ
aeasj-261	464	11	evidence	evidence	NOUN
aeasj-261	464	12	.	.	PUNCT
aeasj-261	465	1	international	international	ADJ
aeasj-261	465	2	journal	journal	PROPN
aeasj-261	465	3	of	of	ADP
aeasj-261	465	4	economics	economic	NOUN
aeasj-261	465	5	and	and	CCONJ
aeasj-261	465	6	finance	finance	NOUN
aeasj-261	465	7	,	,	PUNCT
aeasj-261	465	8	vol	vol	NOUN
aeasj-261	465	9	.	.	PROPN
aeasj-261	465	10	4	4	NUM
aeasj-261	465	11	,	,	PUNCT
aeasj-261	465	12	no	no	INTJ
aeasj-261	465	13	.	.	NOUN
aeasj-261	465	14	4	4	NUM
aeasj-261	465	15	;	;	PUNCT
aeasj-261	465	16	april	april	PROPN
aeasj-261	465	17	.	.	PUNCT
aeasj-261	466	1	published	publish	VERB
aeasj-261	466	2	by	by	ADP
aeasj-261	466	3	canadian	canadian	ADJ
aeasj-261	466	4	center	center	NOUN
aeasj-261	466	5	of	of	ADP
aeasj-261	466	6	science	science	NOUN
aeasj-261	466	7	and	and	CCONJ
aeasj-261	466	8	education	education	NOUN
aeasj-261	466	9	weinstein	weinstein	PROPN
aeasj-261	466	10	,	,	PUNCT
aeasj-261	466	11	d.	d.	PROPN
aeasj-261	466	12	e.	e.	PROPN
aeasj-261	466	13	and	and	CCONJ
aeasj-261	466	14	yafeh	yafeh	PROPN
aeasj-261	466	15	,	,	PUNCT
aeasj-261	466	16	y.	y.	PROPN
aeasj-261	466	17	(	(	PUNCT
aeasj-261	466	18	1998	1998	NUM
aeasj-261	466	19	)	)	PUNCT
aeasj-261	466	20	.	.	PUNCT
aeasj-261	467	1	on	on	ADP
aeasj-261	467	2	the	the	DET
aeasj-261	467	3	costs	cost	NOUN
aeasj-261	467	4	of	of	ADP
aeasj-261	467	5	a	a	DET
aeasj-261	467	6	bank	bank	NOUN
aeasj-261	467	7	-	-	PUNCT
aeasj-261	467	8	centered	center	VERB
aeasj-261	467	9	financial	financial	ADJ
aeasj-261	467	10	system	system	NOUN
aeasj-261	467	11	:	:	PUNCT
aeasj-261	467	12	evidence	evidence	NOUN
aeasj-261	467	13	from	from	ADP
aeasj-261	467	14	the	the	DET
aeasj-261	467	15	changing	change	VERB
aeasj-261	467	16	bank	bank	NOUN
aeasj-261	467	17	relations	relation	NOUN
aeasj-261	467	18	in	in	ADP
aeasj-261	467	19	japan	japan	PROPN
aeasj-261	467	20	.	.	PUNCT
aeasj-261	468	1	journal	journal	PROPN
aeasj-261	468	2	of	of	ADP
aeasj-261	468	3	finance,53	finance,53	NOUN
aeasj-261	468	4	:	:	PUNCT
aeasj-261	468	5	635	635	NUM
aeasj-261	468	6	-	-	SYM
aeasj-261	468	7	672	672	NUM
aeasj-261	468	8	.	.	PUNCT
aeasj-261	469	1	wenger	wenger	PROPN
aeasj-261	469	2	,	,	PUNCT
aeasj-261	469	3	e.	e.	PROPN
aeasj-261	469	4	and	and	CCONJ
aeasj-261	469	5	kaserer	kaserer	PROPN
aeasj-261	469	6	,	,	PUNCT
aeasj-261	469	7	c.	c.	PROPN
aeasj-261	469	8	(	(	PUNCT
aeasj-261	469	9	1998	1998	NUM
aeasj-261	469	10	)	)	PUNCT
aeasj-261	469	11	.	.	PUNCT
aeasj-261	470	1	the	the	DET
aeasj-261	470	2	german	german	ADJ
aeasj-261	470	3	system	system	NOUN
aeasj-261	470	4	of	of	ADP
aeasj-261	470	5	corporate	corporate	ADJ
aeasj-261	470	6	governance	governance	NOUN
aeasj-261	470	7	:	:	PUNCT
aeasj-261	470	8	a	a	DET
aeasj-261	470	9	model	model	NOUN
aeasj-261	470	10	which	which	PRON
aeasj-261	470	11	should	should	AUX
aeasj-261	470	12	not	not	PART
aeasj-261	470	13	be	be	AUX
aeasj-261	470	14	imitated	imitate	VERB
aeasj-261	470	15	.	.	PUNCT
aeasj-261	470	16	”	"	PUNCT
aeasj-261	470	17	in	in	ADP
aeasj-261	470	18	s.w	s.w	PROPN
aeasj-261	470	19	.	.	PROPN
aeasj-261	470	20	black	black	ADJ
aeasj-261	470	21	and	and	CCONJ
aeasj-261	470	22	m.	m.	NOUN
aeasj-261	470	23	moersch	moersch	PROPN
aeasj-261	470	24	(	(	PUNCT
aeasj-261	470	25	eds	ed	NOUN
aeasj-261	470	26	.	.	PUNCT
aeasj-261	470	27	)	)	PUNCT
aeasj-261	470	28	,	,	PUNCT
aeasj-261	470	29	competition	competition	NOUN
aeasj-261	470	30	and	and	CCONJ
aeasj-261	470	31	convergence	convergence	NOUN
aeasj-261	470	32	in	in	ADP
aeasj-261	470	33	financial	financial	ADJ
aeasj-261	470	34	markets	market	NOUN
aeasj-261	470	35	:	:	PUNCT
aeasj-261	470	36	the	the	DET
aeasj-261	470	37	german	german	ADJ
aeasj-261	470	38	and	and	CCONJ
aeasj-261	470	39	anglo	anglo	ADJ
aeasj-261	470	40	-	-	PUNCT
aeasj-261	470	41	american	american	ADJ
aeasj-261	470	42	models	model	NOUN
aeasj-261	470	43	.	.	PUNCT
aeasj-261	471	1	new	new	PROPN
aeasj-261	471	2	york	york	PROPN
aeasj-261	471	3	:	:	PUNCT
aeasj-261	471	4	north	north	PROPN
aeasj-261	471	5	holland	holland	PROPN
aeasj-261	471	6	.	.	PUNCT
aeasj-261	472	1	world	world	PROPN
aeasj-261	472	2	bank	bank	PROPN
aeasj-261	472	3	(	(	PUNCT
aeasj-261	472	4	2001	2001	NUM
aeasj-261	472	5	)	)	PUNCT
aeasj-261	472	6	.	.	PUNCT
aeasj-261	473	1	finance	finance	NOUN
aeasj-261	473	2	for	for	ADP
aeasj-261	473	3	growth	growth	NOUN
aeasj-261	473	4	:	:	PUNCT
aeasj-261	473	5	policy	policy	NOUN
aeasj-261	473	6	choices	choice	NOUN
aeasj-261	473	7	in	in	ADP
aeasj-261	473	8	a	a	DET
aeasj-261	473	9	volatile	volatile	ADJ
aeasj-261	473	10	world	world	NOUN
aeasj-261	473	11	.	.	PUNCT
aeasj-261	474	1	a	a	DET
aeasj-261	474	2	world	world	NOUN
aeasj-261	474	3	bank	bank	NOUN
aeasj-261	474	4	policy	policy	NOUN
aeasj-261	474	5	research	research	NOUN
aeasj-261	474	6	report	report	NOUN
aeasj-261	474	7	.	.	PUNCT
aeasj-261	475	1	washington	washington	PROPN
aeasj-261	475	2	d.c	d.c	PROPN
aeasj-261	475	3	.	.	PUNCT
aeasj-261	475	4	:	:	PUNCT
aeasj-261	476	1	world	world	PROPN
aeasj-261	476	2	bank	bank	PROPN
aeasj-261	476	3	.	.	PUNCT
aeasj-261	477	1	world	world	NOUN
aeasj-261	477	2	development	development	NOUN
aeasj-261	477	3	indicators	indicator	NOUN
aeasj-261	477	4	(	(	PUNCT
aeasj-261	477	5	wdi	wdi	PROPN
aeasj-261	477	6	)	)	PUNCT
aeasj-261	477	7	.	.	PUNCT
aeasj-261	478	1	appendices	appendix	NOUN
aeasj-261	478	2	-1.5	-1.5	PUNCT
aeasj-261	478	3	-1.0	-1.0	PROPN
aeasj-261	478	4	-0.5	-0.5	PROPN
aeasj-261	478	5	0.0	0.0	NUM
aeasj-261	478	6	0.5	0.5	NUM
aeasj-261	478	7	1.0	1.0	NUM
aeasj-261	478	8	1.5	1.5	NUM
aeasj-261	478	9	-1.5	-1.5	SYM
aeasj-261	478	10	-1.0	-1.0	PROPN
aeasj-261	478	11	-0.5	-0.5	PROPN
aeasj-261	478	12	0.0	0.0	NUM
aeasj-261	478	13	0.5	0.5	NUM
aeasj-261	478	14	1.0	1.0	NUM
aeasj-261	478	15	1.5	1.5	NUM
aeasj-261	478	16	inverse	inverse	NOUN
aeasj-261	478	17	roots	root	NOUN
aeasj-261	478	18	of	of	ADP
aeasj-261	478	19	ar	ar	PROPN
aeasj-261	478	20	characteristic	characteristic	ADJ
aeasj-261	478	21	polynomial	polynomial	PROPN
aeasj-261	478	22	ar	ar	NOUN
aeasj-261	478	23	roots	root	NOUN
aeasj-261	478	24	graph	graph	NOUN
aeasj-261	478	25	of	of	ADP
aeasj-261	478	26	financial	financial	ADJ
aeasj-261	478	27	structure	structure	NOUN
aeasj-261	478	28	and	and	CCONJ
aeasj-261	478	29	growth	growth	NOUN
aeasj-261	478	30	source	source	NOUN
aeasj-261	478	31	:	:	PUNCT
aeasj-261	478	32	calculations	calculation	NOUN
aeasj-261	478	33	by	by	ADP
aeasj-261	478	34	authors	author	NOUN
aeasj-261	478	35	using	use	VERB
aeasj-261	478	36	eviews	eviews	PROPN
aeasj-261	478	37	9	9	NUM
aeasj-261	478	38	.	.	PUNCT
aeasj-261	479	1	vec	vec	PROPN
aeasj-261	479	2	residual	residual	ADJ
aeasj-261	479	3	serial	serial	ADJ
aeasj-261	479	4	correlation	correlation	NOUN
aeasj-261	479	5	lm	lm	NOUN
aeasj-261	479	6	tests	test	NOUN
aeasj-261	479	7	of	of	ADP
aeasj-261	479	8	fs_r	fs_r	NUM
aeasj-261	479	9	and	and	CCONJ
aeasj-261	479	10	growth	growth	NOUN
aeasj-261	479	11	lags	lag	VERB
aeasj-261	479	12	lm	lm	ADJ
aeasj-261	479	13	-	-	PUNCT
aeasj-261	479	14	stat	stat	NOUN
aeasj-261	479	15	prob	prob	NOUN
aeasj-261	479	16	1	1	NUM
aeasj-261	479	17	36.26966	36.26966	NUM
aeasj-261	479	18	0.9113	0.9113	NUM
aeasj-261	479	19	2	2	NUM
aeasj-261	479	20	51.68200	51.68200	NUM
aeasj-261	479	21	0.3695	0.3695	NUM
aeasj-261	479	22	*	*	PUNCT
aeasj-261	479	23	probs	prob	NOUN
aeasj-261	479	24	from	from	ADP
aeasj-261	479	25	chi	chi	NOUN
aeasj-261	479	26	-	-	PUNCT
aeasj-261	479	27	square	square	NOUN
aeasj-261	479	28	with	with	ADP
aeasj-261	479	29	49	49	NUM
aeasj-261	479	30	df	df	NOUN
aeasj-261	479	31	.	.	PUNCT
aeasj-261	480	1	*	*	PUNCT
aeasj-261	480	2	*	*	PUNCT
aeasj-261	480	3	null	null	ADJ
aeasj-261	480	4	hypothesis	hypothesis	NOUN
aeasj-261	480	5	:	:	PUNCT
aeasj-261	480	6	no	no	DET
aeasj-261	480	7	serial	serial	ADJ
aeasj-261	480	8	correlation	correlation	NOUN
aeasj-261	480	9	at	at	ADP
aeasj-261	480	10	lag	lag	NOUN
aeasj-261	480	11	order	order	NOUN
aeasj-261	480	12	h	h	NOUN
aeasj-261	480	13	source	source	NOUN
aeasj-261	480	14	:	:	PUNCT
aeasj-261	480	15	calculations	calculation	NOUN
aeasj-261	480	16	by	by	ADP
aeasj-261	480	17	authors	author	NOUN
aeasj-261	480	18	using	use	VERB
aeasj-261	480	19	eviews	eviews	PROPN
aeasj-261	480	20	9	9	NUM
aeasj-261	480	21	.	.	PUNCT
aeasj-261	480	22	residual	residual	ADJ
aeasj-261	480	23	normality	normality	NOUN
aeasj-261	480	24	test	test	NOUN
aeasj-261	480	25	of	of	ADP
aeasj-261	480	26	fs_r	fs_r	NUM
aeasj-261	480	27	and	and	CCONJ
aeasj-261	480	28	growth	growth	NOUN
aeasj-261	480	29	chi	chi	ADJ
aeasj-261	480	30	-	-	PUNCT
aeasj-261	480	31	sq	sq	ADJ
aeasj-261	480	32	p	p	NOUN
aeasj-261	480	33	value	value	NOUN
aeasj-261	480	34	copyright	copyright	NOUN
aeasj-261	480	35	©	©	PROPN
aeasj-261	480	36	cc	cc	PROPN
aeasj-261	480	37	-	-	PUNCT
aeasj-261	480	38	by	by	ADP
aeasj-261	480	39	-	-	PUNCT
aeasj-261	480	40	nc	nc	PROPN
aeasj-261	480	41	2019	2019	NUM
aeasj-261	480	42	,	,	PUNCT
aeasj-261	480	43	cribfb	cribfb	PROPN
aeasj-261	480	44	|	|	ADV
aeasj-261	481	1	afbr	afbr	PROPN
aeasj-261	481	2	www.cribfb.com/journal/index.php/aesr	www.cribfb.com/journal/index.php/aesr	VERB
aeasj-261	481	3	american	american	PROPN
aeasj-261	481	4	economic	economic	PROPN
aeasj-261	481	5	&	&	CCONJ
aeasj-261	481	6	social	social	PROPN
aeasj-261	481	7	review	review	PROPN
aeasj-261	481	8	vol	vol	NOUN
aeasj-261	481	9	.	.	PROPN
aeasj-261	482	1	5	5	NUM
aeasj-261	482	2	,	,	PUNCT
aeasj-261	482	3	no	no	INTJ
aeasj-261	482	4	.	.	NOUN
aeasj-261	482	5	1	1	NUM
aeasj-261	482	6	;	;	PUNCT
aeasj-261	482	7	2019	2019	NUM
aeasj-261	482	8	48	48	NUM
aeasj-261	482	9	skewness	skewness	NOUN
aeasj-261	482	10	0.059595	0.059595	NUM
aeasj-261	482	11	0.8071	0.8071	NUM
aeasj-261	482	12	kurtosis	kurtosis	VERB
aeasj-261	482	13	0.338092	0.338092	NUM
aeasj-261	482	14	0.5609	0.5609	NUM
aeasj-261	482	15	jarque	jarque	NOUN
aeasj-261	482	16	-	-	PUNCT
aeasj-261	482	17	bera	bera	NOUN
aeasj-261	482	18	0.397687	0.397687	NUM
aeasj-261	482	19	0.8197	0.8197	NUM
aeasj-261	482	20	*	*	PUNCT
aeasj-261	482	21	null	null	ADJ
aeasj-261	482	22	hypothesis	hypothesis	NOUN
aeasj-261	482	23	:	:	PUNCT
aeasj-261	482	24	residuals	residual	NOUN
aeasj-261	482	25	are	be	AUX
aeasj-261	482	26	multivariate	multivariate	ADJ
aeasj-261	482	27	normal	normal	ADJ
aeasj-261	482	28	source	source	NOUN
aeasj-261	482	29	:	:	PUNCT
aeasj-261	482	30	calculations	calculation	NOUN
aeasj-261	482	31	by	by	ADP
aeasj-261	482	32	authors	author	NOUN
aeasj-261	482	33	using	use	VERB
aeasj-261	482	34	eviews	eviews	PROPN
aeasj-261	482	35	9	9	NUM
aeasj-261	482	36	.	.	PUNCT
aeasj-261	482	37	hetroscedasticity	hetroscedasticity	NOUN
aeasj-261	482	38	test	test	NOUN
aeasj-261	482	39	(	(	PUNCT
aeasj-261	482	40	white	white	ADJ
aeasj-261	482	41	test	test	NOUN
aeasj-261	482	42	with	with	ADP
aeasj-261	482	43	no	no	DET
aeasj-261	482	44	cross	cross	NOUN
aeasj-261	482	45	terms	term	NOUN
aeasj-261	482	46	)	)	PUNCT
aeasj-261	482	47	of	of	ADP
aeasj-261	482	48	fs_r	fs_r	NUM
aeasj-261	482	49	and	and	CCONJ
aeasj-261	482	50	growth	growth	NOUN
aeasj-261	482	51	joint	joint	ADJ
aeasj-261	482	52	test	test	NOUN
aeasj-261	482	53	:	:	PUNCT
aeasj-261	482	54	chi	chi	ADJ
aeasj-261	482	55	-	-	PUNCT
aeasj-261	482	56	sq	sq	ADJ
aeasj-261	482	57	df	df	PROPN
aeasj-261	482	58	prob	prob	NOUN
aeasj-261	482	59	.	.	PUNCT
aeasj-261	483	1	457.4501	457.4501	NUM
aeasj-261	483	2	448	448	NUM
aeasj-261	483	3	0.3685	0.3685	NUM
aeasj-261	483	4	*	*	PUNCT
aeasj-261	483	5	the	the	DET
aeasj-261	483	6	null	null	ADJ
aeasj-261	483	7	hypothesis	hypothesis	NOUN
aeasj-261	483	8	:	:	PUNCT
aeasj-261	483	9	there	there	PRON
aeasj-261	483	10	is	be	VERB
aeasj-261	483	11	no	no	DET
aeasj-261	483	12	heteroskedesticity	heteroskedesticity	NOUN
aeasj-261	483	13	source	source	NOUN
aeasj-261	483	14	:	:	PUNCT
aeasj-261	483	15	calculations	calculation	NOUN
aeasj-261	483	16	by	by	ADP
aeasj-261	483	17	authors	author	NOUN
aeasj-261	483	18	using	use	VERB
aeasj-261	483	19	eviews	eviews	PROPN
aeasj-261	483	20	9	9	NUM
aeasj-261	483	21	.	.	PUNCT
aeasj-261	484	1	copyrights	copyright	NOUN
aeasj-261	484	2	copyright	copyright	NOUN
aeasj-261	484	3	for	for	ADP
aeasj-261	484	4	this	this	DET
aeasj-261	484	5	article	article	NOUN
aeasj-261	484	6	is	be	AUX
aeasj-261	484	7	retained	retain	VERB
aeasj-261	484	8	by	by	ADP
aeasj-261	484	9	the	the	DET
aeasj-261	484	10	author(s	author(s	PROPN
aeasj-261	484	11	)	)	PUNCT
aeasj-261	484	12	,	,	PUNCT
aeasj-261	484	13	with	with	ADP
aeasj-261	484	14	first	first	ADJ
aeasj-261	484	15	publication	publication	NOUN
aeasj-261	484	16	rights	right	NOUN
aeasj-261	484	17	granted	grant	VERB
aeasj-261	484	18	to	to	ADP
aeasj-261	484	19	the	the	DET
aeasj-261	484	20	journal	journal	NOUN
aeasj-261	484	21	.	.	PUNCT
aeasj-261	485	1	this	this	PRON
aeasj-261	485	2	is	be	AUX
aeasj-261	485	3	an	an	DET
aeasj-261	485	4	open	open	ADJ
aeasj-261	485	5	-	-	PUNCT
aeasj-261	485	6	access	access	NOUN
aeasj-261	485	7	article	article	NOUN
aeasj-261	485	8	distributed	distribute	VERB
aeasj-261	485	9	under	under	ADP
aeasj-261	485	10	the	the	DET
aeasj-261	485	11	terms	term	NOUN
aeasj-261	485	12	and	and	CCONJ
aeasj-261	485	13	conditions	condition	NOUN
aeasj-261	485	14	of	of	ADP
aeasj-261	485	15	the	the	DET
aeasj-261	485	16	creative	creative	ADJ
aeasj-261	485	17	commons	common	NOUN
aeasj-261	485	18	attribution	attribution	NOUN
aeasj-261	485	19	license	license	NOUN
aeasj-261	485	20	(	(	PUNCT
aeasj-261	485	21	http://creativecommons.org/licenses/by/4.0/	http://creativecommons.org/licenses/by/4.0/	PROPN
aeasj-261	485	22	)	)	PUNCT
aeasj-261	485	23	.	.	PUNCT