id	sid	tid	token	lemma	pos
arjefm-77	1	1	american	american	PROPN
arjefm-77	1	2	research	research	PROPN
arjefm-77	1	3	journal	journal	PROPN
arjefm-77	1	4	of	of	ADP
arjefm-77	1	5	economics	economic	NOUN
arjefm-77	1	6	,	,	PUNCT
arjefm-77	1	7	finance	finance	NOUN
arjefm-77	1	8	and	and	CCONJ
arjefm-77	1	9	management	management	NOUN
arjefm-77	1	10	volume	volume	NOUN
arjefm-77	1	11	11	11	NUM
arjefm-77	1	12	issue	issue	NOUN
arjefm-77	1	13	1	1	NUM
arjefm-77	1	14	,	,	PUNCT
arjefm-77	1	15	january	january	PROPN
arjefm-77	1	16	-	-	PUNCT
arjefm-77	1	17	march	march	PROPN
arjefm-77	1	18	2023	2023	NUM
arjefm-77	1	19	issn	issn	NOUN
arjefm-77	1	20	:	:	PUNCT
arjefm-77	1	21	2836	2836	NUM
arjefm-77	1	22	-	-	SYM
arjefm-77	1	23	9416	9416	NUM
arjefm-77	1	24	impact	impact	NOUN
arjefm-77	1	25	factor	factor	NOUN
arjefm-77	1	26	:	:	PUNCT
arjefm-77	1	27	5.57	5.57	NUM
arjefm-77	1	28	journal	journal	NOUN
arjefm-77	1	29	homepage	homepage	NOUN
arjefm-77	1	30	:	:	PUNCT
arjefm-77	1	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	1	32	,	,	PUNCT
arjefm-77	1	33	email	email	NOUN
arjefm-77	1	34	:	:	PUNCT
arjefm-77	1	35	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	1	36	official	official	ADJ
arjefm-77	1	37	journal	journal	PROPN
arjefm-77	1	38	of	of	ADP
arjefm-77	1	39	america	america	PROPN
arjefm-77	1	40	serial	serial	PROPN
arjefm-77	1	41	publication	publication	NOUN
arjefm-77	1	42	american	american	PROPN
arjefm-77	1	43	research	research	PROPN
arjefm-77	1	44	journal	journal	PROPN
arjefm-77	1	45	of	of	ADP
arjefm-77	1	46	economics	economic	NOUN
arjefm-77	1	47	,	,	PUNCT
arjefm-77	1	48	finance	finance	NOUN
arjefm-77	1	49	and	and	CCONJ
arjefm-77	1	50	management	management	NOUN
arjefm-77	1	51	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	1	52	,	,	PUNCT
arjefm-77	1	53	email	email	NOUN
arjefm-77	1	54	:	:	PUNCT
arjefm-77	1	55	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	2	1	32	32	NUM
arjefm-77	3	1	|	|	ADV
arjefm-77	3	2	p	p	X
arjefm-77	3	3	a	a	DET
arjefm-77	3	4	g	g	NOUN
arjefm-77	3	5	e	e	NOUN
arjefm-77	3	6	banking	banking	NOUN
arjefm-77	3	7	regulation	regulation	NOUN
arjefm-77	3	8	and	and	CCONJ
arjefm-77	3	9	liquidity	liquidity	NOUN
arjefm-77	3	10	risk	risk	NOUN
arjefm-77	3	11	:	:	PUNCT
arjefm-77	3	12	an	an	DET
arjefm-77	3	13	analysis	analysis	NOUN
arjefm-77	3	14	of	of	ADP
arjefm-77	3	15	waemu	waemu	NOUN
arjefm-77	3	16	1dr	1dr	NOUN
arjefm-77	3	17	.	.	PUNCT
arjefm-77	4	1	seraphine	seraphine	NOUN
arjefm-77	4	2	prao	prao	NOUN
arjefm-77	4	3	and	and	CCONJ
arjefm-77	4	4	2fabrice	2fabrice	NUM
arjefm-77	4	5	anzara	anzara	NOUN
arjefm-77	4	6	,	,	PUNCT
arjefm-77	4	7	m.sc	m.sc	PROPN
arjefm-77	4	8	.	.	PUNCT
arjefm-77	5	1	1associate	1associate	NUM
arjefm-77	5	2	professor	professor	NOUN
arjefm-77	5	3	at	at	ADP
arjefm-77	5	4	alassane	alassane	PROPN
arjefm-77	5	5	ouattara	ouattara	NOUN
arjefm-77	5	6	university	university	NOUN
arjefm-77	5	7	(	(	PUNCT
arjefm-77	5	8	bouaké	bouaké	NOUN
arjefm-77	5	9	)	)	PUNCT
arjefm-77	5	10	/lampelaboratory	/lampelaboratory	NOUN
arjefm-77	5	11	of	of	ADP
arjefm-77	5	12	economic	economic	ADJ
arjefm-77	5	13	policies	policy	NOUN
arjefm-77	5	14	’	'	PUNCT
arjefm-77	5	15	analysis	analysis	NOUN
arjefm-77	5	16	and	and	CCONJ
arjefm-77	5	17	modeling	modeling	NOUN
arjefm-77	5	18	,	,	PUNCT
arjefm-77	5	19	ivory	ivory	PROPN
arjefm-77	5	20	coast	coast	PROPN
arjefm-77	5	21	.	.	PUNCT
arjefm-77	6	1	2ph.d	2ph.d	X
arjefm-77	6	2	.	.	PUNCT
arjefm-77	6	3	student	student	NOUN
arjefm-77	6	4	at	at	ADP
arjefm-77	6	5	alassane	alassane	PROPN
arjefm-77	6	6	ouattara	ouattara	NOUN
arjefm-77	6	7	university	university	NOUN
arjefm-77	6	8	(	(	PUNCT
arjefm-77	6	9	bouaké	bouaké	NOUN
arjefm-77	6	10	)	)	PUNCT
arjefm-77	6	11	/lampelaboratory	/lampelaboratory	NOUN
arjefm-77	6	12	of	of	ADP
arjefm-77	6	13	economic	economic	ADJ
arjefm-77	6	14	policies	policy	NOUN
arjefm-77	6	15	’	'	PUNCT
arjefm-77	6	16	analysis	analysis	NOUN
arjefm-77	6	17	and	and	CCONJ
arjefm-77	6	18	modeling	modeling	NOUN
arjefm-77	6	19	,	,	PUNCT
arjefm-77	6	20	ivory	ivory	PROPN
arjefm-77	6	21	coast	coast	PROPN
arjefm-77	6	22	.	.	PUNCT
arjefm-77	7	1	abstract	abstract	ADJ
arjefm-77	7	2	:	:	PUNCT
arjefm-77	7	3	the	the	DET
arjefm-77	7	4	banking	banking	NOUN
arjefm-77	7	5	sector	sector	NOUN
arjefm-77	7	6	's	's	PART
arjefm-77	7	7	role	role	NOUN
arjefm-77	7	8	in	in	ADP
arjefm-77	7	9	allocating	allocate	VERB
arjefm-77	7	10	resources	resource	NOUN
arjefm-77	7	11	to	to	ADP
arjefm-77	7	12	investment	investment	NOUN
arjefm-77	7	13	projects	project	NOUN
arjefm-77	7	14	is	be	AUX
arjefm-77	7	15	pivotal	pivotal	ADJ
arjefm-77	7	16	in	in	ADP
arjefm-77	7	17	developing	develop	VERB
arjefm-77	7	18	economies	economy	NOUN
arjefm-77	7	19	.	.	PUNCT
arjefm-77	8	1	banks	bank	NOUN
arjefm-77	8	2	transform	transform	VERB
arjefm-77	8	3	short	short	ADJ
arjefm-77	8	4	-	-	PUNCT
arjefm-77	8	5	term	term	NOUN
arjefm-77	8	6	deposits	deposit	NOUN
arjefm-77	8	7	into	into	ADP
arjefm-77	8	8	long	long	ADJ
arjefm-77	8	9	-	-	PUNCT
arjefm-77	8	10	term	term	NOUN
arjefm-77	8	11	loans	loan	NOUN
arjefm-77	8	12	,	,	PUNCT
arjefm-77	8	13	a	a	DET
arjefm-77	8	14	process	process	NOUN
arjefm-77	8	15	laden	laden	ADJ
arjefm-77	8	16	with	with	ADP
arjefm-77	8	17	responsibility	responsibility	NOUN
arjefm-77	8	18	and	and	CCONJ
arjefm-77	8	19	risk	risk	NOUN
arjefm-77	8	20	.	.	PUNCT
arjefm-77	9	1	liquidity	liquidity	NOUN
arjefm-77	9	2	risk	risk	NOUN
arjefm-77	9	3	,	,	PUNCT
arjefm-77	9	4	characterized	characterize	VERB
arjefm-77	9	5	by	by	ADP
arjefm-77	9	6	a	a	DET
arjefm-77	9	7	bank	bank	NOUN
arjefm-77	9	8	's	's	PART
arjefm-77	9	9	inability	inability	NOUN
arjefm-77	9	10	to	to	PART
arjefm-77	9	11	meet	meet	VERB
arjefm-77	9	12	short	short	ADJ
arjefm-77	9	13	-	-	PUNCT
arjefm-77	9	14	term	term	NOUN
arjefm-77	9	15	commitments	commitment	NOUN
arjefm-77	9	16	,	,	PUNCT
arjefm-77	9	17	poses	pose	VERB
arjefm-77	9	18	a	a	DET
arjefm-77	9	19	significant	significant	ADJ
arjefm-77	9	20	threat	threat	NOUN
arjefm-77	9	21	to	to	ADP
arjefm-77	9	22	its	its	PRON
arjefm-77	9	23	financial	financial	ADJ
arjefm-77	9	24	stability	stability	NOUN
arjefm-77	9	25	and	and	CCONJ
arjefm-77	9	26	reputation	reputation	NOUN
arjefm-77	9	27	.	.	PUNCT
arjefm-77	10	1	this	this	DET
arjefm-77	10	2	study	study	NOUN
arjefm-77	10	3	delves	delve	VERB
arjefm-77	10	4	into	into	ADP
arjefm-77	10	5	the	the	DET
arjefm-77	10	6	impact	impact	NOUN
arjefm-77	10	7	of	of	ADP
arjefm-77	10	8	banking	banking	NOUN
arjefm-77	10	9	regulations	regulation	NOUN
arjefm-77	10	10	on	on	ADP
arjefm-77	10	11	liquidity	liquidity	NOUN
arjefm-77	10	12	risk	risk	NOUN
arjefm-77	10	13	,	,	PUNCT
arjefm-77	10	14	a	a	DET
arjefm-77	10	15	topic	topic	NOUN
arjefm-77	10	16	of	of	ADP
arjefm-77	10	17	contentious	contentious	ADJ
arjefm-77	10	18	debate	debate	NOUN
arjefm-77	10	19	in	in	ADP
arjefm-77	10	20	the	the	DET
arjefm-77	10	21	literature	literature	NOUN
arjefm-77	10	22	.	.	PUNCT
arjefm-77	11	1	keywords	keyword	NOUN
arjefm-77	11	2	:	:	PUNCT
arjefm-77	11	3	banking	banking	NOUN
arjefm-77	11	4	sector	sector	NOUN
arjefm-77	11	5	,	,	PUNCT
arjefm-77	11	6	liquidity	liquidity	NOUN
arjefm-77	11	7	risk	risk	NOUN
arjefm-77	11	8	,	,	PUNCT
arjefm-77	11	9	banking	banking	NOUN
arjefm-77	11	10	regulation	regulation	NOUN
arjefm-77	11	11	,	,	PUNCT
arjefm-77	11	12	financial	financial	ADJ
arjefm-77	11	13	stability	stability	NOUN
arjefm-77	11	14	,	,	PUNCT
arjefm-77	11	15	investment	investment	NOUN
arjefm-77	11	16	project	project	NOUN
arjefm-77	11	17	1	1	NUM
arjefm-77	11	18	.	.	PUNCT
arjefm-77	12	1	introduction	introduction	NOUN
arjefm-77	12	2	the	the	DET
arjefm-77	12	3	banking	banking	NOUN
arjefm-77	12	4	sector	sector	NOUN
arjefm-77	12	5	plays	play	VERB
arjefm-77	12	6	an	an	DET
arjefm-77	12	7	important	important	ADJ
arjefm-77	12	8	role	role	NOUN
arjefm-77	12	9	in	in	ADP
arjefm-77	12	10	developing	develop	VERB
arjefm-77	12	11	economies	economy	NOUN
arjefm-77	12	12	.	.	PUNCT
arjefm-77	13	1	this	this	PRON
arjefm-77	13	2	is	be	AUX
arjefm-77	13	3	because	because	SCONJ
arjefm-77	13	4	the	the	DET
arjefm-77	13	5	process	process	NOUN
arjefm-77	13	6	of	of	ADP
arjefm-77	13	7	bank	bank	NOUN
arjefm-77	13	8	intermediation	intermediation	NOUN
arjefm-77	13	9	places	place	VERB
arjefm-77	13	10	a	a	DET
arjefm-77	13	11	heavy	heavy	ADJ
arjefm-77	13	12	responsibility	responsibility	NOUN
arjefm-77	13	13	on	on	ADP
arjefm-77	13	14	banks	bank	NOUN
arjefm-77	13	15	to	to	PART
arjefm-77	13	16	allocate	allocate	VERB
arjefm-77	13	17	the	the	DET
arjefm-77	13	18	resources	resource	NOUN
arjefm-77	13	19	raised	raise	VERB
arjefm-77	13	20	to	to	ADP
arjefm-77	13	21	various	various	ADJ
arjefm-77	13	22	investment	investment	NOUN
arjefm-77	13	23	projects	project	NOUN
arjefm-77	13	24	in	in	ADP
arjefm-77	13	25	the	the	DET
arjefm-77	13	26	economy	economy	NOUN
arjefm-77	13	27	.	.	PUNCT
arjefm-77	14	1	as	as	ADP
arjefm-77	14	2	part	part	NOUN
arjefm-77	14	3	of	of	ADP
arjefm-77	14	4	this	this	DET
arjefm-77	14	5	process	process	NOUN
arjefm-77	14	6	,	,	PUNCT
arjefm-77	14	7	banks	bank	NOUN
arjefm-77	14	8	typically	typically	ADV
arjefm-77	14	9	convert	convert	VERB
arjefm-77	14	10	short	short	ADJ
arjefm-77	14	11	-	-	PUNCT
arjefm-77	14	12	term	term	NOUN
arjefm-77	14	13	deposits	deposit	NOUN
arjefm-77	14	14	into	into	ADP
arjefm-77	14	15	loans	loan	NOUN
arjefm-77	14	16	with	with	ADP
arjefm-77	14	17	a	a	DET
arjefm-77	14	18	much	much	ADV
arjefm-77	14	19	longer	long	ADJ
arjefm-77	14	20	average	average	ADJ
arjefm-77	14	21	maturity	maturity	NOUN
arjefm-77	14	22	(	(	PUNCT
arjefm-77	14	23	casu	casu	PROPN
arjefm-77	14	24	et	et	PROPN
arjefm-77	14	25	al	al	PROPN
arjefm-77	14	26	,	,	PUNCT
arjefm-77	14	27	2019	2019	NUM
arjefm-77	14	28	)	)	PUNCT
arjefm-77	14	29	.	.	PUNCT
arjefm-77	15	1	this	this	DET
arjefm-77	15	2	transformation	transformation	NOUN
arjefm-77	15	3	of	of	ADP
arjefm-77	15	4	schedules	schedule	NOUN
arjefm-77	15	5	is	be	AUX
arjefm-77	15	6	not	not	PART
arjefm-77	15	7	without	without	ADP
arjefm-77	15	8	consequences	consequence	NOUN
arjefm-77	15	9	for	for	ADP
arjefm-77	15	10	the	the	DET
arjefm-77	15	11	bank	bank	NOUN
arjefm-77	15	12	,	,	PUNCT
arjefm-77	15	13	as	as	SCONJ
arjefm-77	15	14	it	it	PRON
arjefm-77	15	15	could	could	AUX
arjefm-77	15	16	eventually	eventually	ADV
arjefm-77	15	17	compromise	compromise	VERB
arjefm-77	15	18	its	its	PRON
arjefm-77	15	19	financial	financial	ADJ
arjefm-77	15	20	structure	structure	NOUN
arjefm-77	15	21	,	,	PUNCT
arjefm-77	15	22	and	and	CCONJ
arjefm-77	15	23	ultimately	ultimately	ADV
arjefm-77	15	24	expose	expose	VERB
arjefm-77	15	25	it	it	PRON
arjefm-77	15	26	to	to	ADP
arjefm-77	15	27	liquidity	liquidity	NOUN
arjefm-77	15	28	risk	risk	NOUN
arjefm-77	15	29	.	.	PUNCT
arjefm-77	16	1	according	accord	VERB
arjefm-77	16	2	to	to	ADP
arjefm-77	16	3	hakimi	hakimi	NOUN
arjefm-77	16	4	and	and	CCONJ
arjefm-77	16	5	zaghdoudi	zaghdoudi	NUM
arjefm-77	16	6	(	(	PUNCT
arjefm-77	16	7	2017	2017	NUM
arjefm-77	16	8	)	)	PUNCT
arjefm-77	16	9	,	,	PUNCT
arjefm-77	16	10	liquidity	liquidity	NOUN
arjefm-77	16	11	risk	risk	NOUN
arjefm-77	16	12	refers	refer	VERB
arjefm-77	16	13	to	to	ADP
arjefm-77	16	14	a	a	DET
arjefm-77	16	15	situation	situation	NOUN
arjefm-77	16	16	in	in	ADP
arjefm-77	16	17	which	which	PRON
arjefm-77	16	18	a	a	DET
arjefm-77	16	19	bank	bank	NOUN
arjefm-77	16	20	is	be	AUX
arjefm-77	16	21	unable	unable	ADJ
arjefm-77	16	22	to	to	PART
arjefm-77	16	23	meet	meet	VERB
arjefm-77	16	24	its	its	PRON
arjefm-77	16	25	short	short	ADJ
arjefm-77	16	26	-	-	PUNCT
arjefm-77	16	27	term	term	NOUN
arjefm-77	16	28	commitments	commitment	NOUN
arjefm-77	16	29	.	.	PUNCT
arjefm-77	17	1	it	it	PRON
arjefm-77	17	2	then	then	ADV
arjefm-77	17	3	becomes	become	VERB
arjefm-77	17	4	insolvent	insolvent	ADJ
arjefm-77	17	5	and	and	CCONJ
arjefm-77	17	6	is	be	AUX
arjefm-77	17	7	unable	unable	ADJ
arjefm-77	17	8	to	to	PART
arjefm-77	17	9	meet	meet	VERB
arjefm-77	17	10	the	the	DET
arjefm-77	17	11	withdrawal	withdrawal	NOUN
arjefm-77	17	12	demands	demand	NOUN
arjefm-77	17	13	of	of	ADP
arjefm-77	17	14	its	its	PRON
arjefm-77	17	15	customers	customer	NOUN
arjefm-77	17	16	.	.	PUNCT
arjefm-77	18	1	liquidity	liquidity	NOUN
arjefm-77	18	2	risk	risk	NOUN
arjefm-77	18	3	undermines	undermine	VERB
arjefm-77	18	4	the	the	DET
arjefm-77	18	5	confidence	confidence	NOUN
arjefm-77	18	6	of	of	ADP
arjefm-77	18	7	depositors	depositor	NOUN
arjefm-77	18	8	and	and	CCONJ
arjefm-77	18	9	affects	affect	VERB
arjefm-77	18	10	both	both	DET
arjefm-77	18	11	the	the	DET
arjefm-77	18	12	performance	performance	NOUN
arjefm-77	18	13	of	of	ADP
arjefm-77	18	14	banks	bank	NOUN
arjefm-77	18	15	and	and	CCONJ
arjefm-77	18	16	their	their	PRON
arjefm-77	18	17	reputation	reputation	NOUN
arjefm-77	18	18	.	.	PUNCT
arjefm-77	19	1	in	in	ADP
arjefm-77	19	2	light	light	NOUN
arjefm-77	19	3	of	of	ADP
arjefm-77	19	4	this	this	DET
arjefm-77	19	5	definition	definition	NOUN
arjefm-77	19	6	,	,	PUNCT
arjefm-77	19	7	the	the	DET
arjefm-77	19	8	prospect	prospect	NOUN
arjefm-77	19	9	of	of	ADP
arjefm-77	19	10	such	such	DET
arjefm-77	19	11	a	a	DET
arjefm-77	19	12	scenario	scenario	NOUN
arjefm-77	19	13	has	have	AUX
arjefm-77	19	14	given	give	VERB
arjefm-77	19	15	rise	rise	NOUN
arjefm-77	19	16	to	to	ADP
arjefm-77	19	17	much	much	ADJ
arjefm-77	19	18	discussion	discussion	NOUN
arjefm-77	19	19	about	about	ADP
arjefm-77	19	20	the	the	DET
arjefm-77	19	21	ability	ability	NOUN
arjefm-77	19	22	of	of	ADP
arjefm-77	19	23	banking	banking	NOUN
arjefm-77	19	24	regulation	regulation	NOUN
arjefm-77	19	25	to	to	PART
arjefm-77	19	26	address	address	VERB
arjefm-77	19	27	it	it	PRON
arjefm-77	19	28	.	.	PUNCT
arjefm-77	20	1	however	however	ADV
arjefm-77	20	2	,	,	PUNCT
arjefm-77	20	3	the	the	DET
arjefm-77	20	4	effects	effect	NOUN
arjefm-77	20	5	of	of	ADP
arjefm-77	20	6	regulation	regulation	NOUN
arjefm-77	20	7	on	on	ADP
arjefm-77	20	8	liquidity	liquidity	NOUN
arjefm-77	20	9	risk	risk	NOUN
arjefm-77	20	10	have	have	AUX
arjefm-77	20	11	been	be	AUX
arjefm-77	20	12	hotly	hotly	ADV
arjefm-77	20	13	debated	debate	VERB
arjefm-77	20	14	in	in	ADP
arjefm-77	20	15	the	the	DET
arjefm-77	20	16	literature	literature	NOUN
arjefm-77	20	17	.	.	PUNCT
arjefm-77	21	1	on	on	ADP
arjefm-77	21	2	the	the	DET
arjefm-77	21	3	one	one	NUM
arjefm-77	21	4	hand	hand	NOUN
arjefm-77	21	5	,	,	PUNCT
arjefm-77	21	6	some	some	DET
arjefm-77	21	7	authors	author	NOUN
arjefm-77	21	8	such	such	ADJ
arjefm-77	21	9	as	as	ADP
arjefm-77	21	10	berger	berger	PROPN
arjefm-77	21	11	and	and	CCONJ
arjefm-77	21	12	bowman	bowman	PROPN
arjefm-77	21	13	(	(	PUNCT
arjefm-77	21	14	2009	2009	NUM
arjefm-77	21	15	)	)	PUNCT
arjefm-77	21	16	argue	argue	VERB
arjefm-77	21	17	that	that	SCONJ
arjefm-77	21	18	bank	bank	NOUN
arjefm-77	21	19	regulation	regulation	NOUN
arjefm-77	21	20	has	have	VERB
arjefm-77	21	21	the	the	DET
arjefm-77	21	22	potential	potential	NOUN
arjefm-77	21	23	to	to	PART
arjefm-77	21	24	reduce	reduce	VERB
arjefm-77	21	25	liquidity	liquidity	NOUN
arjefm-77	21	26	risk	risk	NOUN
arjefm-77	21	27	.	.	PUNCT
arjefm-77	22	1	indeed	indeed	ADV
arjefm-77	22	2	,	,	PUNCT
arjefm-77	22	3	these	these	DET
arjefm-77	22	4	authors	author	NOUN
arjefm-77	22	5	argue	argue	VERB
arjefm-77	22	6	that	that	SCONJ
arjefm-77	22	7	a	a	DET
arjefm-77	22	8	highly	highly	ADV
arjefm-77	22	9	capitalized	capitalize	VERB
arjefm-77	22	10	bank	bank	NOUN
arjefm-77	22	11	can	can	AUX
arjefm-77	22	12	cope	cope	VERB
arjefm-77	22	13	with	with	ADP
arjefm-77	22	14	contingencies	contingency	NOUN
arjefm-77	22	15	resulting	result	VERB
arjefm-77	22	16	from	from	ADP
arjefm-77	22	17	a	a	DET
arjefm-77	22	18	shock	shock	NOUN
arjefm-77	22	19	,	,	PUNCT
arjefm-77	22	20	as	as	SCONJ
arjefm-77	22	21	capitalization	capitalization	NOUN
arjefm-77	22	22	acts	act	VERB
arjefm-77	22	23	as	as	ADP
arjefm-77	22	24	a	a	DET
arjefm-77	22	25	cushion	cushion	NOUN
arjefm-77	22	26	,	,	PUNCT
arjefm-77	22	27	which	which	PRON
arjefm-77	22	28	increases	increase	VERB
arjefm-77	22	29	the	the	DET
arjefm-77	22	30	absorptive	absorptive	ADJ
arjefm-77	22	31	capacity	capacity	NOUN
arjefm-77	22	32	of	of	ADP
arjefm-77	22	33	banks	bank	NOUN
arjefm-77	22	34	in	in	ADP
arjefm-77	22	35	case	case	NOUN
arjefm-77	22	36	of	of	ADP
arjefm-77	22	37	difficulties	difficulty	NOUN
arjefm-77	22	38	or	or	CCONJ
arjefm-77	22	39	large	large	ADJ
arjefm-77	22	40	losses	loss	NOUN
arjefm-77	22	41	.	.	PUNCT
arjefm-77	23	1	in	in	ADP
arjefm-77	23	2	contrast	contrast	NOUN
arjefm-77	23	3	to	to	ADP
arjefm-77	23	4	these	these	DET
arjefm-77	23	5	authors	author	NOUN
arjefm-77	23	6	,	,	PUNCT
arjefm-77	23	7	a	a	DET
arjefm-77	23	8	section	section	NOUN
arjefm-77	23	9	of	of	ADP
arjefm-77	23	10	the	the	DET
arjefm-77	23	11	literature	literature	NOUN
arjefm-77	23	12	argues	argue	VERB
arjefm-77	23	13	that	that	SCONJ
arjefm-77	23	14	bank	bank	NOUN
arjefm-77	23	15	regulation	regulation	NOUN
arjefm-77	23	16	can	can	AUX
arjefm-77	23	17	also	also	ADV
arjefm-77	23	18	increase	increase	VERB
arjefm-77	23	19	liquidity	liquidity	NOUN
arjefm-77	23	20	risk	risk	NOUN
arjefm-77	23	21	.	.	PUNCT
arjefm-77	24	1	according	accord	VERB
arjefm-77	24	2	to	to	ADP
arjefm-77	24	3	these	these	DET
arjefm-77	24	4	authors	author	NOUN
arjefm-77	24	5	,	,	PUNCT
arjefm-77	24	6	if	if	SCONJ
arjefm-77	24	7	the	the	DET
arjefm-77	24	8	bank	bank	NOUN
arjefm-77	24	9	decides	decide	VERB
arjefm-77	24	10	to	to	PART
arjefm-77	24	11	hold	hold	VERB
arjefm-77	24	12	enough	enough	ADJ
arjefm-77	24	13	liquid	liquid	ADJ
arjefm-77	24	14	assets	asset	NOUN
arjefm-77	24	15	in	in	ADP
arjefm-77	24	16	its	its	PRON
arjefm-77	24	17	portfolio	portfolio	NOUN
arjefm-77	24	18	,	,	PUNCT
arjefm-77	24	19	to	to	PART
arjefm-77	24	20	reassure	reassure	VERB
arjefm-77	24	21	its	its	PRON
arjefm-77	24	22	depositors	depositor	NOUN
arjefm-77	24	23	,	,	PUNCT
arjefm-77	24	24	while	while	SCONJ
arjefm-77	24	25	investors	investor	NOUN
arjefm-77	24	26	have	have	VERB
arjefm-77	24	27	a	a	DET
arjefm-77	24	28	preference	preference	NOUN
arjefm-77	24	29	for	for	ADP
arjefm-77	24	30	less	less	ADJ
arjefm-77	24	31	liquid	liquid	ADJ
arjefm-77	24	32	assets	asset	NOUN
arjefm-77	24	33	,	,	PUNCT
arjefm-77	24	34	this	this	PRON
arjefm-77	24	35	could	could	AUX
arjefm-77	24	36	result	result	VERB
arjefm-77	24	37	in	in	ADP
arjefm-77	24	38	a	a	DET
arjefm-77	24	39	decrease	decrease	NOUN
arjefm-77	24	40	in	in	ADP
arjefm-77	24	41	liquidity	liquidity	NOUN
arjefm-77	24	42	creation	creation	NOUN
arjefm-77	24	43	and	and	CCONJ
arjefm-77	24	44	an	an	DET
arjefm-77	24	45	increase	increase	NOUN
arjefm-77	24	46	in	in	ADP
arjefm-77	24	47	liquidity	liquidity	NOUN
arjefm-77	24	48	risk	risk	NOUN
arjefm-77	24	49	(	(	PUNCT
arjefm-77	24	50	horváth	horváth	ADV
arjefm-77	24	51	et	et	PROPN
arjefm-77	24	52	al	al	PROPN
arjefm-77	24	53	2014	2014	NUM
arjefm-77	24	54	)	)	PUNCT
arjefm-77	24	55	,	,	PUNCT
arjefm-77	24	56	known	know	VERB
arjefm-77	24	57	under	under	ADP
arjefm-77	24	58	the	the	DET
arjefm-77	24	59	banner	banner	NOUN
arjefm-77	24	60	of	of	ADP
arjefm-77	24	61	the	the	DET
arjefm-77	24	62	financial	financial	ADJ
arjefm-77	24	63	fragility	fragility	NOUN
arjefm-77	24	64	hypothesis	hypothesis	NOUN
arjefm-77	24	65	.	.	PUNCT
arjefm-77	25	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-77	25	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	26	1	american	american	PROPN
arjefm-77	26	2	research	research	PROPN
arjefm-77	26	3	journal	journal	PROPN
arjefm-77	26	4	of	of	ADP
arjefm-77	26	5	economics	economic	NOUN
arjefm-77	26	6	,	,	PUNCT
arjefm-77	26	7	finance	finance	NOUN
arjefm-77	26	8	and	and	CCONJ
arjefm-77	26	9	management	management	NOUN
arjefm-77	26	10	volume	volume	NOUN
arjefm-77	26	11	11	11	NUM
arjefm-77	26	12	issue	issue	NOUN
arjefm-77	26	13	1	1	NUM
arjefm-77	26	14	,	,	PUNCT
arjefm-77	26	15	january	january	PROPN
arjefm-77	26	16	-	-	PUNCT
arjefm-77	26	17	march	march	PROPN
arjefm-77	26	18	2023	2023	NUM
arjefm-77	26	19	issn	issn	NOUN
arjefm-77	26	20	:	:	PUNCT
arjefm-77	26	21	2836	2836	NUM
arjefm-77	26	22	-	-	SYM
arjefm-77	26	23	9416	9416	NUM
arjefm-77	26	24	impact	impact	NOUN
arjefm-77	26	25	factor	factor	NOUN
arjefm-77	26	26	:	:	PUNCT
arjefm-77	26	27	5.57	5.57	NUM
arjefm-77	26	28	journal	journal	NOUN
arjefm-77	26	29	homepage	homepage	NOUN
arjefm-77	26	30	:	:	PUNCT
arjefm-77	26	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	26	32	,	,	PUNCT
arjefm-77	26	33	email	email	NOUN
arjefm-77	26	34	:	:	PUNCT
arjefm-77	27	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	27	2	official	official	ADJ
arjefm-77	27	3	journal	journal	PROPN
arjefm-77	27	4	of	of	ADP
arjefm-77	27	5	america	america	PROPN
arjefm-77	27	6	serial	serial	PROPN
arjefm-77	27	7	publication	publication	NOUN
arjefm-77	27	8	american	american	PROPN
arjefm-77	27	9	research	research	PROPN
arjefm-77	27	10	journal	journal	PROPN
arjefm-77	27	11	of	of	ADP
arjefm-77	27	12	economics	economic	NOUN
arjefm-77	27	13	,	,	PUNCT
arjefm-77	27	14	finance	finance	NOUN
arjefm-77	27	15	and	and	CCONJ
arjefm-77	27	16	management	management	NOUN
arjefm-77	27	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	27	18	,	,	PUNCT
arjefm-77	27	19	email	email	NOUN
arjefm-77	27	20	:	:	PUNCT
arjefm-77	27	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	28	1	33	33	NUM
arjefm-77	29	1	|	|	ADV
arjefm-77	29	2	p	p	NOUN
arjefm-77	29	3	a	a	DET
arjefm-77	29	4	g	g	NOUN
arjefm-77	29	5	e	e	NOUN
arjefm-77	29	6	very	very	ADV
arjefm-77	29	7	recently	recently	ADV
arjefm-77	29	8	,	,	PUNCT
arjefm-77	29	9	the	the	DET
arjefm-77	29	10	economic	economic	ADJ
arjefm-77	29	11	literature	literature	NOUN
arjefm-77	29	12	has	have	AUX
arjefm-77	29	13	emphasized	emphasize	VERB
arjefm-77	29	14	the	the	DET
arjefm-77	29	15	role	role	NOUN
arjefm-77	29	16	that	that	PRON
arjefm-77	29	17	the	the	DET
arjefm-77	29	18	financial	financial	ADJ
arjefm-77	29	19	market	market	NOUN
arjefm-77	29	20	could	could	AUX
arjefm-77	29	21	play	play	VERB
arjefm-77	29	22	in	in	ADP
arjefm-77	29	23	this	this	DET
arjefm-77	29	24	analytical	analytical	ADJ
arjefm-77	29	25	framework	framework	NOUN
arjefm-77	29	26	.	.	PUNCT
arjefm-77	30	1	indeed	indeed	ADV
arjefm-77	30	2	,	,	PUNCT
arjefm-77	30	3	the	the	DET
arjefm-77	30	4	financial	financial	ADJ
arjefm-77	30	5	market	market	NOUN
arjefm-77	30	6	is	be	AUX
arjefm-77	30	7	an	an	DET
arjefm-77	30	8	important	important	ADJ
arjefm-77	30	9	component	component	NOUN
arjefm-77	30	10	of	of	ADP
arjefm-77	30	11	the	the	DET
arjefm-77	30	12	financial	financial	ADJ
arjefm-77	30	13	system	system	NOUN
arjefm-77	30	14	whose	whose	DET
arjefm-77	30	15	influence	influence	NOUN
arjefm-77	30	16	has	have	AUX
arjefm-77	30	17	been	be	AUX
arjefm-77	30	18	growing	grow	VERB
arjefm-77	30	19	in	in	ADP
arjefm-77	30	20	recent	recent	ADJ
arjefm-77	30	21	years	year	NOUN
arjefm-77	30	22	.	.	PUNCT
arjefm-77	31	1	the	the	DET
arjefm-77	31	2	interest	interest	NOUN
arjefm-77	31	3	of	of	ADP
arjefm-77	31	4	the	the	DET
arjefm-77	31	5	literature	literature	NOUN
arjefm-77	31	6	in	in	ADP
arjefm-77	31	7	the	the	DET
arjefm-77	31	8	financial	financial	ADJ
arjefm-77	31	9	market	market	NOUN
arjefm-77	31	10	is	be	AUX
arjefm-77	31	11	explained	explain	VERB
arjefm-77	31	12	by	by	ADP
arjefm-77	31	13	the	the	DET
arjefm-77	31	14	interactions	interaction	NOUN
arjefm-77	31	15	that	that	SCONJ
arjefm-77	31	16	it	it	PRON
arjefm-77	31	17	has	have	VERB
arjefm-77	31	18	with	with	ADP
arjefm-77	31	19	the	the	DET
arjefm-77	31	20	banking	banking	NOUN
arjefm-77	31	21	market	market	NOUN
arjefm-77	31	22	.	.	PUNCT
arjefm-77	32	1	indeed	indeed	ADV
arjefm-77	32	2	,	,	PUNCT
arjefm-77	32	3	following	follow	VERB
arjefm-77	32	4	this	this	DET
arjefm-77	32	5	literature	literature	NOUN
arjefm-77	32	6	,	,	PUNCT
arjefm-77	32	7	it	it	PRON
arjefm-77	32	8	appears	appear	VERB
arjefm-77	32	9	substantially	substantially	ADV
arjefm-77	32	10	,	,	PUNCT
arjefm-77	32	11	that	that	SCONJ
arjefm-77	32	12	the	the	DET
arjefm-77	32	13	considerable	considerable	ADJ
arjefm-77	32	14	growth	growth	NOUN
arjefm-77	32	15	of	of	ADP
arjefm-77	32	16	the	the	DET
arjefm-77	32	17	financial	financial	ADJ
arjefm-77	32	18	market	market	NOUN
arjefm-77	32	19	in	in	ADP
arjefm-77	32	20	recent	recent	ADJ
arjefm-77	32	21	years	year	NOUN
arjefm-77	32	22	,	,	PUNCT
arjefm-77	32	23	would	would	AUX
arjefm-77	32	24	be	be	AUX
arjefm-77	32	25	largely	largely	ADV
arjefm-77	32	26	related	relate	VERB
arjefm-77	32	27	to	to	ADP
arjefm-77	32	28	banking	banking	NOUN
arjefm-77	32	29	regulation	regulation	NOUN
arjefm-77	32	30	(	(	PUNCT
arjefm-77	32	31	chen	chen	PROPN
arjefm-77	32	32	et	et	PROPN
arjefm-77	32	33	al	al	PROPN
arjefm-77	32	34	,	,	PUNCT
arjefm-77	32	35	2021	2021	NUM
arjefm-77	32	36	)	)	PUNCT
arjefm-77	32	37	.	.	PUNCT
arjefm-77	33	1	in	in	ADP
arjefm-77	33	2	this	this	DET
arjefm-77	33	3	regard	regard	NOUN
arjefm-77	33	4	,	,	PUNCT
arjefm-77	33	5	levine	levine	PROPN
arjefm-77	33	6	(	(	PUNCT
arjefm-77	33	7	1991	1991	NUM
arjefm-77	33	8	)	)	PUNCT
arjefm-77	33	9	states	state	VERB
arjefm-77	33	10	that	that	SCONJ
arjefm-77	33	11	constant	constant	ADJ
arjefm-77	33	12	regulatory	regulatory	ADJ
arjefm-77	33	13	pressures	pressure	NOUN
arjefm-77	33	14	have	have	AUX
arjefm-77	33	15	caused	cause	VERB
arjefm-77	33	16	banks	bank	NOUN
arjefm-77	33	17	to	to	PART
arjefm-77	33	18	shift	shift	VERB
arjefm-77	33	19	from	from	ADP
arjefm-77	33	20	traditional	traditional	ADJ
arjefm-77	33	21	activities	activity	NOUN
arjefm-77	33	22	to	to	ADP
arjefm-77	33	23	market	market	NOUN
arjefm-77	33	24	activities	activity	NOUN
arjefm-77	33	25	.	.	PUNCT
arjefm-77	34	1	similarly	similarly	ADV
arjefm-77	34	2	,	,	PUNCT
arjefm-77	34	3	buchak	buchak	VERB
arjefm-77	34	4	et	et	PROPN
arjefm-77	34	5	al	al	PROPN
arjefm-77	34	6	,	,	PUNCT
arjefm-77	34	7	(	(	PUNCT
arjefm-77	34	8	2018	2018	NUM
arjefm-77	34	9	)	)	PUNCT
arjefm-77	34	10	argue	argue	VERB
arjefm-77	34	11	that	that	SCONJ
arjefm-77	34	12	traditional	traditional	ADJ
arjefm-77	34	13	banks	bank	NOUN
arjefm-77	34	14	have	have	AUX
arjefm-77	34	15	been	be	AUX
arjefm-77	34	16	subject	subject	ADJ
arjefm-77	34	17	to	to	ADP
arjefm-77	34	18	significant	significant	ADJ
arjefm-77	34	19	regulation	regulation	NOUN
arjefm-77	34	20	since	since	SCONJ
arjefm-77	34	21	the	the	DET
arjefm-77	34	22	last	last	ADJ
arjefm-77	34	23	financial	financial	ADJ
arjefm-77	34	24	crisis	crisis	NOUN
arjefm-77	34	25	.	.	PUNCT
arjefm-77	35	1	this	this	DET
arjefm-77	35	2	regulation	regulation	NOUN
arjefm-77	35	3	is	be	AUX
arjefm-77	35	4	causing	cause	VERB
arjefm-77	35	5	costs	cost	NOUN
arjefm-77	35	6	to	to	PART
arjefm-77	35	7	rise	rise	VERB
arjefm-77	35	8	and	and	CCONJ
arjefm-77	35	9	limiting	limit	VERB
arjefm-77	35	10	the	the	DET
arjefm-77	35	11	range	range	NOUN
arjefm-77	35	12	of	of	ADP
arjefm-77	35	13	products	product	NOUN
arjefm-77	35	14	they	they	PRON
arjefm-77	35	15	can	can	AUX
arjefm-77	35	16	offer	offer	VERB
arjefm-77	35	17	,	,	PUNCT
arjefm-77	35	18	hence	hence	ADV
arjefm-77	35	19	the	the	DET
arjefm-77	35	20	shift	shift	NOUN
arjefm-77	35	21	from	from	ADP
arjefm-77	35	22	traditional	traditional	ADJ
arjefm-77	35	23	business	business	NOUN
arjefm-77	35	24	to	to	ADP
arjefm-77	35	25	disintermediated	disintermediate	VERB
arjefm-77	35	26	finance	finance	NOUN
arjefm-77	35	27	activities	activity	NOUN
arjefm-77	35	28	.	.	PUNCT
arjefm-77	36	1	while	while	SCONJ
arjefm-77	36	2	market	market	NOUN
arjefm-77	36	3	activities	activity	NOUN
arjefm-77	36	4	are	be	AUX
arjefm-77	36	5	known	know	VERB
arjefm-77	36	6	to	to	PART
arjefm-77	36	7	contribute	contribute	VERB
arjefm-77	36	8	significantly	significantly	ADV
arjefm-77	36	9	to	to	ADP
arjefm-77	36	10	the	the	DET
arjefm-77	36	11	financing	financing	NOUN
arjefm-77	36	12	of	of	ADP
arjefm-77	36	13	the	the	DET
arjefm-77	36	14	economy	economy	NOUN
arjefm-77	36	15	,	,	PUNCT
arjefm-77	36	16	they	they	PRON
arjefm-77	36	17	can	can	AUX
arjefm-77	36	18	also	also	ADV
arjefm-77	36	19	undermine	undermine	VERB
arjefm-77	36	20	the	the	DET
arjefm-77	36	21	stability	stability	NOUN
arjefm-77	36	22	of	of	ADP
arjefm-77	36	23	the	the	DET
arjefm-77	36	24	banking	banking	NOUN
arjefm-77	36	25	system	system	NOUN
arjefm-77	36	26	.	.	PUNCT
arjefm-77	37	1	for	for	ADP
arjefm-77	37	2	example	example	NOUN
arjefm-77	37	3	,	,	PUNCT
arjefm-77	37	4	dell'ariccia	dell'ariccia	PROPN
arjefm-77	37	5	et	et	PROPN
arjefm-77	37	6	al	al	PROPN
arjefm-77	37	7	(	(	PUNCT
arjefm-77	37	8	2008	2008	NUM
arjefm-77	37	9	)	)	PUNCT
arjefm-77	37	10	find	find	VERB
arjefm-77	37	11	that	that	SCONJ
arjefm-77	37	12	securitization	securitization	NOUN
arjefm-77	37	13	increases	increase	VERB
arjefm-77	37	14	risk	risk	NOUN
arjefm-77	37	15	because	because	SCONJ
arjefm-77	37	16	it	it	PRON
arjefm-77	37	17	reduces	reduce	VERB
arjefm-77	37	18	banks	bank	NOUN
arjefm-77	37	19	'	'	PART
arjefm-77	37	20	incentive	incentive	NOUN
arjefm-77	37	21	to	to	PART
arjefm-77	37	22	monitor	monitor	VERB
arjefm-77	37	23	borrowers	borrower	NOUN
arjefm-77	37	24	.	.	PUNCT
arjefm-77	38	1	for	for	ADP
arjefm-77	38	2	uhde	uhde	PROPN
arjefm-77	38	3	et	et	PROPN
arjefm-77	38	4	al	al	PROPN
arjefm-77	38	5	(	(	PUNCT
arjefm-77	38	6	2012	2012	NUM
arjefm-77	38	7	)	)	PUNCT
arjefm-77	38	8	,	,	PUNCT
arjefm-77	38	9	securitization	securitization	NOUN
arjefm-77	38	10	and	and	CCONJ
arjefm-77	38	11	the	the	DET
arjefm-77	38	12	complexity	complexity	NOUN
arjefm-77	38	13	of	of	ADP
arjefm-77	38	14	derivatives	derivative	NOUN
arjefm-77	38	15	lead	lead	VERB
arjefm-77	38	16	to	to	ADP
arjefm-77	38	17	information	information	NOUN
arjefm-77	38	18	losses	loss	NOUN
arjefm-77	38	19	that	that	PRON
arjefm-77	38	20	can	can	AUX
arjefm-77	38	21	lead	lead	VERB
arjefm-77	38	22	to	to	ADP
arjefm-77	38	23	bad	bad	ADJ
arjefm-77	38	24	investments	investment	NOUN
arjefm-77	38	25	.	.	PUNCT
arjefm-77	39	1	furthermore	furthermore	ADV
arjefm-77	39	2	,	,	PUNCT
arjefm-77	39	3	banks	bank	NOUN
arjefm-77	39	4	may	may	AUX
arjefm-77	39	5	have	have	VERB
arjefm-77	39	6	incentives	incentive	NOUN
arjefm-77	39	7	to	to	PART
arjefm-77	39	8	speculate	speculate	VERB
arjefm-77	39	9	on	on	ADP
arjefm-77	39	10	certain	certain	ADJ
arjefm-77	39	11	financial	financial	ADJ
arjefm-77	39	12	assets	asset	NOUN
arjefm-77	39	13	to	to	PART
arjefm-77	39	14	improve	improve	VERB
arjefm-77	39	15	their	their	PRON
arjefm-77	39	16	returns	return	NOUN
arjefm-77	39	17	.	.	PUNCT
arjefm-77	40	1	in	in	ADP
arjefm-77	40	2	an	an	DET
arjefm-77	40	3	interconnected	interconnected	ADJ
arjefm-77	40	4	and	and	CCONJ
arjefm-77	40	5	interdependent	interdependent	ADJ
arjefm-77	40	6	world	world	NOUN
arjefm-77	40	7	,	,	PUNCT
arjefm-77	40	8	the	the	DET
arjefm-77	40	9	instability	instability	NOUN
arjefm-77	40	10	generated	generate	VERB
arjefm-77	40	11	by	by	ADP
arjefm-77	40	12	such	such	ADJ
arjefm-77	40	13	practices	practice	NOUN
arjefm-77	40	14	could	could	AUX
arjefm-77	40	15	lead	lead	VERB
arjefm-77	40	16	to	to	ADP
arjefm-77	40	17	a	a	DET
arjefm-77	40	18	crisis	crisis	NOUN
arjefm-77	40	19	with	with	ADP
arjefm-77	40	20	disastrous	disastrous	ADJ
arjefm-77	40	21	consequences	consequence	NOUN
arjefm-77	40	22	for	for	ADP
arjefm-77	40	23	the	the	DET
arjefm-77	40	24	banking	banking	NOUN
arjefm-77	40	25	system	system	NOUN
arjefm-77	40	26	but	but	CCONJ
arjefm-77	40	27	also	also	ADV
arjefm-77	40	28	for	for	ADP
arjefm-77	40	29	the	the	DET
arjefm-77	40	30	real	real	ADJ
arjefm-77	40	31	economy	economy	NOUN
arjefm-77	40	32	(	(	PUNCT
arjefm-77	40	33	fsb	fsb	NOUN
arjefm-77	40	34	,	,	PUNCT
arjefm-77	40	35	2015	2015	NUM
arjefm-77	40	36	)	)	PUNCT
arjefm-77	40	37	.	.	PUNCT
arjefm-77	41	1	thus	thus	ADV
arjefm-77	41	2	,	,	PUNCT
arjefm-77	41	3	in	in	ADP
arjefm-77	41	4	light	light	NOUN
arjefm-77	41	5	of	of	ADP
arjefm-77	41	6	the	the	DET
arjefm-77	41	7	above	above	NOUN
arjefm-77	41	8	,	,	PUNCT
arjefm-77	41	9	it	it	PRON
arjefm-77	41	10	would	would	AUX
arjefm-77	41	11	appear	appear	VERB
arjefm-77	41	12	that	that	SCONJ
arjefm-77	41	13	the	the	DET
arjefm-77	41	14	effect	effect	NOUN
arjefm-77	41	15	of	of	ADP
arjefm-77	41	16	banking	banking	NOUN
arjefm-77	41	17	regulation	regulation	NOUN
arjefm-77	41	18	on	on	ADP
arjefm-77	41	19	liquidity	liquidity	NOUN
arjefm-77	41	20	risk	risk	NOUN
arjefm-77	41	21	is	be	AUX
arjefm-77	41	22	weakened	weaken	VERB
arjefm-77	41	23	by	by	ADP
arjefm-77	41	24	the	the	DET
arjefm-77	41	25	risk	risk	NOUN
arjefm-77	41	26	-	-	PUNCT
arjefm-77	41	27	taking	taking	NOUN
arjefm-77	41	28	induced	induce	VERB
arjefm-77	41	29	by	by	ADP
arjefm-77	41	30	the	the	DET
arjefm-77	41	31	development	development	NOUN
arjefm-77	41	32	of	of	ADP
arjefm-77	41	33	the	the	DET
arjefm-77	41	34	financial	financial	ADJ
arjefm-77	41	35	market	market	NOUN
arjefm-77	41	36	.	.	PUNCT
arjefm-77	42	1	thus	thus	ADV
arjefm-77	42	2	,	,	PUNCT
arjefm-77	42	3	the	the	DET
arjefm-77	42	4	ambivalence	ambivalence	NOUN
arjefm-77	42	5	about	about	ADP
arjefm-77	42	6	the	the	DET
arjefm-77	42	7	role	role	NOUN
arjefm-77	42	8	of	of	ADP
arjefm-77	42	9	the	the	DET
arjefm-77	42	10	financial	financial	ADJ
arjefm-77	42	11	market	market	NOUN
arjefm-77	42	12	in	in	ADP
arjefm-77	42	13	the	the	DET
arjefm-77	42	14	relationship	relationship	NOUN
arjefm-77	42	15	between	between	ADP
arjefm-77	42	16	regulatory	regulatory	ADJ
arjefm-77	42	17	capital	capital	NOUN
arjefm-77	42	18	and	and	CCONJ
arjefm-77	42	19	liquidity	liquidity	NOUN
arjefm-77	42	20	risk	risk	NOUN
arjefm-77	42	21	is	be	AUX
arjefm-77	42	22	a	a	DET
arjefm-77	42	23	legitimate	legitimate	ADJ
arjefm-77	42	24	concern	concern	NOUN
arjefm-77	42	25	that	that	PRON
arjefm-77	42	26	deserves	deserve	VERB
arjefm-77	42	27	attention	attention	NOUN
arjefm-77	42	28	.	.	PUNCT
arjefm-77	43	1	concerning	concern	VERB
arjefm-77	43	2	waemu	waemu	PROPN
arjefm-77	43	3	countries	country	NOUN
arjefm-77	43	4	,	,	PUNCT
arjefm-77	43	5	it	it	PRON
arjefm-77	43	6	should	should	AUX
arjefm-77	43	7	be	be	AUX
arjefm-77	43	8	noted	note	VERB
arjefm-77	43	9	that	that	SCONJ
arjefm-77	43	10	the	the	DET
arjefm-77	43	11	financial	financial	ADJ
arjefm-77	43	12	crisis	crisis	NOUN
arjefm-77	43	13	that	that	PRON
arjefm-77	43	14	occurred	occur	VERB
arjefm-77	43	15	in	in	ADP
arjefm-77	43	16	the	the	DET
arjefm-77	43	17	1980s	1980	NOUN
arjefm-77	43	18	gave	give	VERB
arjefm-77	43	19	rise	rise	NOUN
arjefm-77	43	20	to	to	ADP
arjefm-77	43	21	a	a	DET
arjefm-77	43	22	vast	vast	ADJ
arjefm-77	43	23	reform	reform	NOUN
arjefm-77	43	24	program	program	NOUN
arjefm-77	43	25	.	.	PUNCT
arjefm-77	44	1	to	to	PART
arjefm-77	44	2	improve	improve	VERB
arjefm-77	44	3	the	the	DET
arjefm-77	44	4	resilience	resilience	NOUN
arjefm-77	44	5	and	and	CCONJ
arjefm-77	44	6	contribution	contribution	NOUN
arjefm-77	44	7	of	of	ADP
arjefm-77	44	8	banks	bank	NOUN
arjefm-77	44	9	to	to	ADP
arjefm-77	44	10	the	the	DET
arjefm-77	44	11	development	development	NOUN
arjefm-77	44	12	of	of	ADP
arjefm-77	44	13	the	the	DET
arjefm-77	44	14	countries	country	NOUN
arjefm-77	44	15	in	in	ADP
arjefm-77	44	16	the	the	DET
arjefm-77	44	17	zone	zone	NOUN
arjefm-77	44	18	,	,	PUNCT
arjefm-77	44	19	the	the	DET
arjefm-77	44	20	banking	banking	NOUN
arjefm-77	44	21	authorities	authority	NOUN
arjefm-77	44	22	implemented	implement	VERB
arjefm-77	44	23	the	the	DET
arjefm-77	44	24	prudential	prudential	ADJ
arjefm-77	44	25	system	system	NOUN
arjefm-77	44	26	as	as	SCONJ
arjefm-77	44	27	promoted	promote	VERB
arjefm-77	44	28	by	by	ADP
arjefm-77	44	29	the	the	DET
arjefm-77	44	30	basel	basel	PROPN
arjefm-77	44	31	committee	committee	NOUN
arjefm-77	44	32	.	.	PUNCT
arjefm-77	45	1	thus	thus	ADV
arjefm-77	45	2	,	,	PUNCT
arjefm-77	45	3	the	the	DET
arjefm-77	45	4	union	union	NOUN
arjefm-77	45	5	will	will	AUX
arjefm-77	45	6	see	see	VERB
arjefm-77	45	7	the	the	DET
arjefm-77	45	8	entry	entry	NOUN
arjefm-77	45	9	into	into	ADP
arjefm-77	45	10	force	force	NOUN
arjefm-77	45	11	of	of	ADP
arjefm-77	45	12	the	the	DET
arjefm-77	45	13	basel	basel	PROPN
arjefm-77	45	14	1	1	NUM
arjefm-77	45	15	agreements	agreement	NOUN
arjefm-77	45	16	in	in	ADP
arjefm-77	45	17	2000	2000	NUM
arjefm-77	45	18	,	,	PUNCT
arjefm-77	45	19	followed	follow	VERB
arjefm-77	45	20	by	by	ADP
arjefm-77	45	21	an	an	DET
arjefm-77	45	22	increase	increase	NOUN
arjefm-77	45	23	in	in	ADP
arjefm-77	45	24	banks	bank	NOUN
arjefm-77	45	25	'	'	PART
arjefm-77	45	26	share	share	NOUN
arjefm-77	45	27	capital	capital	NOUN
arjefm-77	45	28	as	as	ADP
arjefm-77	45	29	of	of	ADP
arjefm-77	45	30	2007	2007	NUM
arjefm-77	45	31	.	.	PUNCT
arjefm-77	46	1	initially	initially	ADV
arjefm-77	46	2	set	set	VERB
arjefm-77	46	3	at	at	ADP
arjefm-77	46	4	3	3	NUM
arjefm-77	46	5	billion	billion	NUM
arjefm-77	46	6	cfa	cfa	NOUN
arjefm-77	46	7	francs	franc	NOUN
arjefm-77	46	8	,	,	PUNCT
arjefm-77	46	9	the	the	DET
arjefm-77	46	10	capital	capital	NOUN
arjefm-77	46	11	stock	stock	NOUN
arjefm-77	46	12	will	will	AUX
arjefm-77	46	13	be	be	AUX
arjefm-77	46	14	raised	raise	VERB
arjefm-77	46	15	to	to	ADP
arjefm-77	46	16	10	10	NUM
arjefm-77	46	17	billion	billion	NUM
arjefm-77	46	18	cfa	cfa	NOUN
arjefm-77	46	19	francs	franc	NOUN
arjefm-77	46	20	,	,	PUNCT
arjefm-77	46	21	but	but	CCONJ
arjefm-77	46	22	the	the	DET
arjefm-77	46	23	entry	entry	NOUN
arjefm-77	46	24	into	into	ADP
arjefm-77	46	25	force	force	NOUN
arjefm-77	46	26	will	will	AUX
arjefm-77	46	27	be	be	AUX
arjefm-77	46	28	gradual	gradual	ADJ
arjefm-77	46	29	.	.	PUNCT
arjefm-77	47	1	more	more	ADV
arjefm-77	47	2	recently	recently	ADV
arjefm-77	47	3	,	,	PUNCT
arjefm-77	47	4	in	in	ADP
arjefm-77	47	5	2018	2018	NUM
arjefm-77	47	6	,	,	PUNCT
arjefm-77	47	7	the	the	DET
arjefm-77	47	8	union	union	NOUN
arjefm-77	47	9	also	also	ADV
arjefm-77	47	10	adopted	adopt	VERB
arjefm-77	47	11	the	the	DET
arjefm-77	47	12	basel	basel	PROPN
arjefm-77	47	13	2	2	NUM
arjefm-77	47	14	and	and	CCONJ
arjefm-77	47	15	3	3	NUM
arjefm-77	47	16	agreements	agreement	NOUN
arjefm-77	47	17	.	.	PUNCT
arjefm-77	48	1	however	however	ADV
arjefm-77	48	2	,	,	PUNCT
arjefm-77	48	3	despite	despite	SCONJ
arjefm-77	48	4	all	all	DET
arjefm-77	48	5	the	the	DET
arjefm-77	48	6	reforms	reform	NOUN
arjefm-77	48	7	undertaken	undertake	VERB
arjefm-77	48	8	,	,	PUNCT
arjefm-77	48	9	an	an	DET
arjefm-77	48	10	analysis	analysis	NOUN
arjefm-77	48	11	of	of	ADP
arjefm-77	48	12	the	the	DET
arjefm-77	48	13	facts	fact	NOUN
arjefm-77	48	14	raises	raise	VERB
arjefm-77	48	15	somme	somme	NOUN
arjefm-77	48	16	questions	question	NOUN
arjefm-77	48	17	.	.	PUNCT
arjefm-77	49	1	indeed	indeed	ADV
arjefm-77	49	2	,	,	PUNCT
arjefm-77	49	3	over	over	ADP
arjefm-77	49	4	the	the	DET
arjefm-77	49	5	period	period	NOUN
arjefm-77	49	6	1996	1996	NUM
arjefm-77	49	7	to	to	ADP
arjefm-77	49	8	2018	2018	NUM
arjefm-77	49	9	,	,	PUNCT
arjefm-77	49	10	there	there	PRON
arjefm-77	49	11	has	have	AUX
arjefm-77	49	12	been	be	AUX
arjefm-77	49	13	a	a	DET
arjefm-77	49	14	strengthening	strengthening	NOUN
arjefm-77	49	15	of	of	ADP
arjefm-77	49	16	the	the	DET
arjefm-77	49	17	regulatory	regulatory	ADJ
arjefm-77	49	18	arsenal	arsenal	NOUN
arjefm-77	49	19	.	.	PUNCT
arjefm-77	50	1	contrary	contrary	ADJ
arjefm-77	50	2	to	to	ADP
arjefm-77	50	3	the	the	DET
arjefm-77	50	4	expected	expect	VERB
arjefm-77	50	5	negative	negative	ADJ
arjefm-77	50	6	effect	effect	NOUN
arjefm-77	50	7	on	on	ADP
arjefm-77	50	8	liquidity	liquidity	NOUN
arjefm-77	50	9	risk	risk	NOUN
arjefm-77	50	10	,	,	PUNCT
arjefm-77	50	11	the	the	DET
arjefm-77	50	12	strengthening	strengthening	NOUN
arjefm-77	50	13	of	of	ADP
arjefm-77	50	14	the	the	DET
arjefm-77	50	15	regulatory	regulatory	ADJ
arjefm-77	50	16	arsenal	arsenal	NOUN
arjefm-77	50	17	has	have	AUX
arjefm-77	50	18	instead	instead	ADV
arjefm-77	50	19	been	be	AUX
arjefm-77	50	20	accompanied	accompany	VERB
arjefm-77	50	21	by	by	ADP
arjefm-77	50	22	an	an	DET
arjefm-77	50	23	increase	increase	NOUN
arjefm-77	50	24	in	in	ADP
arjefm-77	50	25	liquidity	liquidity	NOUN
arjefm-77	50	26	risk	risk	NOUN
arjefm-77	50	27	,	,	PUNCT
arjefm-77	50	28	with	with	ADP
arjefm-77	50	29	the	the	DET
arjefm-77	50	30	ratio	ratio	NOUN
arjefm-77	50	31	rising	rise	VERB
arjefm-77	50	32	from	from	ADP
arjefm-77	50	33	4.32	4.32	NUM
arjefm-77	50	34	%	%	NOUN
arjefm-77	50	35	to	to	ADP
arjefm-77	50	36	6.57	6.57	NUM
arjefm-77	50	37	%	%	NOUN
arjefm-77	50	38	(	(	PUNCT
arjefm-77	50	39	wdi	wdi	NOUN
arjefm-77	50	40	,	,	PUNCT
arjefm-77	50	41	2020	2020	NUM
arjefm-77	50	42	)	)	PUNCT
arjefm-77	50	43	.	.	PUNCT
arjefm-77	51	1	at	at	ADP
arjefm-77	51	2	the	the	DET
arjefm-77	51	3	same	same	ADJ
arjefm-77	51	4	time	time	NOUN
arjefm-77	51	5	,	,	PUNCT
arjefm-77	51	6	while	while	SCONJ
arjefm-77	51	7	the	the	DET
arjefm-77	51	8	strengthening	strengthening	NOUN
arjefm-77	51	9	of	of	ADP
arjefm-77	51	10	the	the	DET
arjefm-77	51	11	regulatory	regulatory	ADJ
arjefm-77	51	12	arsenal	arsenal	NOUN
arjefm-77	51	13	was	be	AUX
arjefm-77	51	14	followed	follow	VERB
arjefm-77	51	15	by	by	ADP
arjefm-77	51	16	the	the	DET
arjefm-77	51	17	development	development	NOUN
arjefm-77	51	18	of	of	ADP
arjefm-77	51	19	the	the	DET
arjefm-77	51	20	financial	financial	ADJ
arjefm-77	51	21	market	market	NOUN
arjefm-77	51	22	,	,	PUNCT
arjefm-77	51	23	with	with	ADP
arjefm-77	51	24	an	an	DET
arjefm-77	51	25	increase	increase	NOUN
arjefm-77	51	26	in	in	ADP
arjefm-77	51	27	market	market	NOUN
arjefm-77	51	28	capitalization	capitalization	NOUN
arjefm-77	51	29	from	from	ADP
arjefm-77	51	30	1	1	NUM
arjefm-77	51	31	%	%	NOUN
arjefm-77	51	32	to	to	PART
arjefm-77	51	33	32	32	NUM
arjefm-77	51	34	%	%	NOUN
arjefm-77	51	35	(	(	PUNCT
arjefm-77	51	36	gfdd	gfdd	NOUN
arjefm-77	51	37	,	,	PUNCT
arjefm-77	51	38	2020	2020	NUM
arjefm-77	51	39	)	)	PUNCT
arjefm-77	51	40	,	,	PUNCT
arjefm-77	51	41	this	this	DET
arjefm-77	51	42	increase	increase	NOUN
arjefm-77	51	43	in	in	ADP
arjefm-77	51	44	capitalization	capitalization	NOUN
arjefm-77	51	45	seems	seem	VERB
arjefm-77	51	46	to	to	PART
arjefm-77	51	47	have	have	AUX
arjefm-77	51	48	been	be	AUX
arjefm-77	51	49	conducive	conducive	ADJ
arjefm-77	51	50	to	to	ADP
arjefm-77	51	51	an	an	DET
arjefm-77	51	52	increase	increase	NOUN
arjefm-77	51	53	in	in	ADP
arjefm-77	51	54	liquidity	liquidity	NOUN
arjefm-77	51	55	risk	risk	NOUN
arjefm-77	51	56	,	,	PUNCT
arjefm-77	51	57	over	over	ADP
arjefm-77	51	58	the	the	DET
arjefm-77	51	59	same	same	ADJ
arjefm-77	51	60	time	time	NOUN
arjefm-77	51	61	.	.	PUNCT
arjefm-77	52	1	thus	thus	ADV
arjefm-77	52	2	,	,	PUNCT
arjefm-77	52	3	based	base	VERB
arjefm-77	52	4	on	on	ADP
arjefm-77	52	5	these	these	DET
arjefm-77	52	6	facts	fact	NOUN
arjefm-77	52	7	,	,	PUNCT
arjefm-77	52	8	it	it	PRON
arjefm-77	52	9	appears	appear	VERB
arjefm-77	52	10	that	that	SCONJ
arjefm-77	52	11	the	the	DET
arjefm-77	52	12	role	role	NOUN
arjefm-77	52	13	of	of	ADP
arjefm-77	52	14	the	the	DET
arjefm-77	52	15	financial	financial	ADJ
arjefm-77	52	16	market	market	NOUN
arjefm-77	52	17	in	in	ADP
arjefm-77	52	18	the	the	DET
arjefm-77	52	19	relationship	relationship	NOUN
arjefm-77	52	20	between	between	ADP
arjefm-77	52	21	regulatory	regulatory	ADJ
arjefm-77	52	22	capital	capital	NOUN
arjefm-77	52	23	and	and	CCONJ
arjefm-77	52	24	liquidity	liquidity	NOUN
arjefm-77	52	25	risk	risk	NOUN
arjefm-77	52	26	merits	merit	VERB
arjefm-77	52	27	reflection	reflection	NOUN
arjefm-77	52	28	.	.	PUNCT
arjefm-77	53	1	and	and	CCONJ
arjefm-77	53	2	it	it	PRON
arjefm-77	53	3	is	be	AUX
arjefm-77	53	4	here	here	ADV
arjefm-77	53	5	that	that	SCONJ
arjefm-77	53	6	we	we	PRON
arjefm-77	53	7	place	place	VERB
arjefm-77	53	8	the	the	DET
arjefm-77	53	9	problem	problem	NOUN
arjefm-77	53	10	of	of	ADP
arjefm-77	53	11	our	our	PRON
arjefm-77	53	12	study	study	NOUN
arjefm-77	53	13	.	.	PUNCT
arjefm-77	54	1	the	the	DET
arjefm-77	54	2	central	central	ADJ
arjefm-77	54	3	question	question	NOUN
arjefm-77	54	4	that	that	SCONJ
arjefm-77	54	5	we	we	PRON
arjefm-77	54	6	attempt	attempt	VERB
arjefm-77	54	7	to	to	PART
arjefm-77	54	8	answer	answer	VERB
arjefm-77	54	9	in	in	ADP
arjefm-77	54	10	this	this	DET
arjefm-77	54	11	study	study	NOUN
arjefm-77	54	12	is	be	AUX
arjefm-77	54	13	the	the	DET
arjefm-77	54	14	following	following	NOUN
arjefm-77	54	15	:	:	PUNCT
arjefm-77	54	16	to	to	ADP
arjefm-77	54	17	what	what	DET
arjefm-77	54	18	extent	extent	NOUN
arjefm-77	54	19	does	do	AUX
arjefm-77	54	20	the	the	DET
arjefm-77	54	21	financial	financial	ADJ
arjefm-77	54	22	market	market	NOUN
arjefm-77	54	23	activity	activity	NOUN
arjefm-77	54	24	in	in	ADP
arjefm-77	54	25	the	the	DET
arjefm-77	54	26	relationship	relationship	NOUN
arjefm-77	54	27	between	between	ADP
arjefm-77	54	28	regulation	regulation	NOUN
arjefm-77	54	29	and	and	CCONJ
arjefm-77	54	30	bank	bank	NOUN
arjefm-77	54	31	liquidity	liquidity	NOUN
arjefm-77	54	32	risk	risk	NOUN
arjefm-77	54	33	?	?	PUNCT
arjefm-77	55	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-77	55	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	56	1	american	american	PROPN
arjefm-77	56	2	research	research	PROPN
arjefm-77	56	3	journal	journal	PROPN
arjefm-77	56	4	of	of	ADP
arjefm-77	56	5	economics	economic	NOUN
arjefm-77	56	6	,	,	PUNCT
arjefm-77	56	7	finance	finance	NOUN
arjefm-77	56	8	and	and	CCONJ
arjefm-77	56	9	management	management	NOUN
arjefm-77	56	10	volume	volume	NOUN
arjefm-77	56	11	11	11	NUM
arjefm-77	56	12	issue	issue	NOUN
arjefm-77	56	13	1	1	NUM
arjefm-77	56	14	,	,	PUNCT
arjefm-77	56	15	january	january	PROPN
arjefm-77	56	16	-	-	PUNCT
arjefm-77	56	17	march	march	PROPN
arjefm-77	56	18	2023	2023	NUM
arjefm-77	56	19	issn	issn	NOUN
arjefm-77	56	20	:	:	PUNCT
arjefm-77	56	21	2836	2836	NUM
arjefm-77	56	22	-	-	SYM
arjefm-77	56	23	9416	9416	NUM
arjefm-77	56	24	impact	impact	NOUN
arjefm-77	56	25	factor	factor	NOUN
arjefm-77	56	26	:	:	PUNCT
arjefm-77	56	27	5.57	5.57	NUM
arjefm-77	56	28	journal	journal	NOUN
arjefm-77	56	29	homepage	homepage	NOUN
arjefm-77	56	30	:	:	PUNCT
arjefm-77	56	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	56	32	,	,	PUNCT
arjefm-77	56	33	email	email	NOUN
arjefm-77	56	34	:	:	PUNCT
arjefm-77	57	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	57	2	official	official	ADJ
arjefm-77	57	3	journal	journal	PROPN
arjefm-77	57	4	of	of	ADP
arjefm-77	57	5	america	america	PROPN
arjefm-77	57	6	serial	serial	PROPN
arjefm-77	57	7	publication	publication	NOUN
arjefm-77	57	8	american	american	PROPN
arjefm-77	57	9	research	research	PROPN
arjefm-77	57	10	journal	journal	PROPN
arjefm-77	57	11	of	of	ADP
arjefm-77	57	12	economics	economic	NOUN
arjefm-77	57	13	,	,	PUNCT
arjefm-77	57	14	finance	finance	NOUN
arjefm-77	57	15	and	and	CCONJ
arjefm-77	57	16	management	management	NOUN
arjefm-77	57	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	57	18	,	,	PUNCT
arjefm-77	57	19	email	email	NOUN
arjefm-77	57	20	:	:	PUNCT
arjefm-77	57	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	58	1	34	34	NUM
arjefm-77	59	1	|	|	ADV
arjefm-77	59	2	p	p	X
arjefm-77	59	3	a	a	DET
arjefm-77	59	4	g	g	NOUN
arjefm-77	59	5	e	e	NOUN
arjefm-77	59	6	consequently	consequently	ADV
arjefm-77	59	7	,	,	PUNCT
arjefm-77	59	8	the	the	DET
arjefm-77	59	9	general	general	ADJ
arjefm-77	59	10	objective	objective	NOUN
arjefm-77	59	11	of	of	ADP
arjefm-77	59	12	the	the	DET
arjefm-77	59	13	study	study	NOUN
arjefm-77	59	14	is	be	AUX
arjefm-77	59	15	to	to	PART
arjefm-77	59	16	examine	examine	VERB
arjefm-77	59	17	the	the	DET
arjefm-77	59	18	role	role	NOUN
arjefm-77	59	19	of	of	ADP
arjefm-77	59	20	the	the	DET
arjefm-77	59	21	financial	financial	ADJ
arjefm-77	59	22	market	market	NOUN
arjefm-77	59	23	in	in	ADP
arjefm-77	59	24	the	the	DET
arjefm-77	59	25	relationship	relationship	NOUN
arjefm-77	59	26	between	between	ADP
arjefm-77	59	27	banking	banking	NOUN
arjefm-77	59	28	regulation	regulation	NOUN
arjefm-77	59	29	and	and	CCONJ
arjefm-77	59	30	liquidity	liquidity	NOUN
arjefm-77	59	31	risk	risk	NOUN
arjefm-77	59	32	in	in	ADP
arjefm-77	59	33	the	the	DET
arjefm-77	59	34	waemu	waemu	PROPN
arjefm-77	59	35	zone	zone	NOUN
arjefm-77	59	36	.	.	PUNCT
arjefm-77	60	1	specifically	specifically	ADV
arjefm-77	60	2	,	,	PUNCT
arjefm-77	60	3	it	it	PRON
arjefm-77	60	4	is	be	AUX
arjefm-77	60	5	to	to	PART
arjefm-77	60	6	examine	examine	VERB
arjefm-77	60	7	the	the	DET
arjefm-77	60	8	nature	nature	NOUN
arjefm-77	60	9	of	of	ADP
arjefm-77	60	10	the	the	DET
arjefm-77	60	11	relationship	relationship	NOUN
arjefm-77	60	12	between	between	ADP
arjefm-77	60	13	regulatory	regulatory	ADJ
arjefm-77	60	14	capital	capital	NOUN
arjefm-77	60	15	and	and	CCONJ
arjefm-77	60	16	bank	bank	NOUN
arjefm-77	60	17	liquidity	liquidity	NOUN
arjefm-77	60	18	risk	risk	NOUN
arjefm-77	60	19	and	and	CCONJ
arjefm-77	60	20	to	to	PART
arjefm-77	60	21	determine	determine	VERB
arjefm-77	60	22	the	the	DET
arjefm-77	60	23	role	role	NOUN
arjefm-77	60	24	of	of	ADP
arjefm-77	60	25	market	market	NOUN
arjefm-77	60	26	capitalization	capitalization	NOUN
arjefm-77	60	27	in	in	ADP
arjefm-77	60	28	the	the	DET
arjefm-77	60	29	relationship	relationship	NOUN
arjefm-77	60	30	between	between	ADP
arjefm-77	60	31	regulatory	regulatory	ADJ
arjefm-77	60	32	capital	capital	NOUN
arjefm-77	60	33	and	and	CCONJ
arjefm-77	60	34	bank	bank	NOUN
arjefm-77	60	35	liquidity	liquidity	NOUN
arjefm-77	60	36	risk	risk	NOUN
arjefm-77	60	37	.	.	PUNCT
arjefm-77	61	1	in	in	ADP
arjefm-77	61	2	connection	connection	NOUN
arjefm-77	61	3	with	with	ADP
arjefm-77	61	4	these	these	DET
arjefm-77	61	5	specific	specific	ADJ
arjefm-77	61	6	objectives	objective	NOUN
arjefm-77	61	7	,	,	PUNCT
arjefm-77	61	8	we	we	PRON
arjefm-77	61	9	postulate	postulate	VERB
arjefm-77	61	10	the	the	DET
arjefm-77	61	11	following	follow	VERB
arjefm-77	61	12	assumptions	assumption	NOUN
arjefm-77	61	13	.	.	PUNCT
arjefm-77	62	1	the	the	DET
arjefm-77	62	2	first	first	ADJ
arjefm-77	62	3	is	be	AUX
arjefm-77	62	4	that	that	SCONJ
arjefm-77	62	5	the	the	DET
arjefm-77	62	6	relationship	relationship	NOUN
arjefm-77	62	7	between	between	ADP
arjefm-77	62	8	regulatory	regulatory	ADJ
arjefm-77	62	9	capital	capital	NOUN
arjefm-77	62	10	and	and	CCONJ
arjefm-77	62	11	liquidity	liquidity	NOUN
arjefm-77	62	12	risk	risk	NOUN
arjefm-77	62	13	is	be	AUX
arjefm-77	62	14	non	non	ADJ
arjefm-77	62	15	-	-	ADJ
arjefm-77	62	16	linear	linear	ADJ
arjefm-77	62	17	.	.	PUNCT
arjefm-77	63	1	the	the	DET
arjefm-77	63	2	second	second	NOUN
arjefm-77	63	3	is	be	AUX
arjefm-77	63	4	that	that	PRON
arjefm-77	63	5	regulatory	regulatory	ADJ
arjefm-77	63	6	capital	capital	NOUN
arjefm-77	63	7	reduces	reduce	VERB
arjefm-77	63	8	liquidity	liquidity	NOUN
arjefm-77	63	9	risk	risk	NOUN
arjefm-77	63	10	for	for	ADP
arjefm-77	63	11	a	a	DET
arjefm-77	63	12	given	give	VERB
arjefm-77	63	13	level	level	NOUN
arjefm-77	63	14	of	of	ADP
arjefm-77	63	15	market	market	NOUN
arjefm-77	63	16	capitalization	capitalization	NOUN
arjefm-77	63	17	.	.	PUNCT
arjefm-77	64	1	pour	pour	VERB
arjefm-77	64	2	mener	mener	PROPN
arjefm-77	64	3	à	à	PROPN
arjefm-77	64	4	bien	bien	PROPN
arjefm-77	64	5	cette	cette	PROPN
arjefm-77	64	6	étude	étude	PROPN
arjefm-77	64	7	,	,	PUNCT
arjefm-77	64	8	les	les	PROPN
arjefm-77	64	9	données	données	PROPN
arjefm-77	64	10	utilisées	utilisées	PROPN
arjefm-77	64	11	dans	dans	PROPN
arjefm-77	64	12	notre	notre	PROPN
arjefm-77	64	13	cadre	cadre	PROPN
arjefm-77	64	14	empirique	empirique	PROPN
arjefm-77	64	15	ont	ont	PROPN
arjefm-77	64	16	été	été	PROPN
arjefm-77	64	17	obtenues	obtenues	PROPN
arjefm-77	64	18	de	de	X
arjefm-77	64	19	la	la	X
arjefm-77	64	20	bceao	bceao	NOUN
arjefm-77	64	21	(	(	PUNCT
arjefm-77	64	22	2020	2020	NUM
arjefm-77	64	23	)	)	PUNCT
arjefm-77	64	24	;	;	PUNCT
arjefm-77	64	25	wdi	wdi	NOUN
arjefm-77	64	26	(	(	PUNCT
arjefm-77	64	27	2020	2020	NUM
arjefm-77	64	28	)	)	PUNCT
arjefm-77	64	29	,	,	PUNCT
arjefm-77	64	30	and	and	CCONJ
arjefm-77	64	31	gfdd	gfdd	NOUN
arjefm-77	64	32	(	(	PUNCT
arjefm-77	64	33	2020	2020	NUM
arjefm-77	64	34	)	)	PUNCT
arjefm-77	64	35	et	et	PROPN
arjefm-77	64	36	couvrent	couvrent	PROPN
arjefm-77	64	37	la	la	PROPN
arjefm-77	64	38	période	période	PROPN
arjefm-77	64	39	1996	1996	NUM
arjefm-77	64	40	-	-	SYM
arjefm-77	64	41	2018	2018	NUM
arjefm-77	64	42	.	.	PUNCT
arjefm-77	65	1	au	au	PROPN
arjefm-77	65	2	plan	plan	PROPN
arjefm-77	65	3	méthodologique	méthodologique	PROPN
arjefm-77	65	4	,	,	PUNCT
arjefm-77	65	5	nous	nous	ADJ
arjefm-77	65	6	avons	avon	NOUN
arjefm-77	65	7	recouru	recouru	X
arjefm-77	65	8	à	à	X
arjefm-77	65	9	la	la	PROPN
arjefm-77	65	10	méthode	méthode	PROPN
arjefm-77	65	11	de	de	PROPN
arjefm-77	65	12	panel	panel	PROPN
arjefm-77	65	13	à	à	X
arjefm-77	65	14	transition	transition	NOUN
arjefm-77	65	15	lisse	lisse	NOUN
arjefm-77	65	16	(	(	PUNCT
arjefm-77	65	17	pstr	pstr	NOUN
arjefm-77	65	18	)	)	PUNCT
arjefm-77	65	19	développée	développée	NOUN
arjefm-77	65	20	par	par	PROPN
arjefm-77	65	21	gonzalez	gonzalez	PROPN
arjefm-77	65	22	et	et	PROPN
arjefm-77	65	23	al	al	PROPN
arjefm-77	65	24	(	(	PUNCT
arjefm-77	65	25	2005	2005	NUM
arjefm-77	65	26	)	)	PUNCT
arjefm-77	65	27	.	.	PUNCT
arjefm-77	66	1	a	a	DET
arjefm-77	66	2	l’issue	l’issue	PROPN
arjefm-77	66	3	des	de	NOUN
arjefm-77	66	4	estimations	estimation	NOUN
arjefm-77	66	5	,	,	PUNCT
arjefm-77	66	6	nos	nos	PROPN
arjefm-77	66	7	résultats	résultats	PROPN
arjefm-77	66	8	montrent	montrent	PROPN
arjefm-77	66	9	qu’il	qu’il	PROPN
arjefm-77	66	10	existe	existe	PROPN
arjefm-77	66	11	une	une	PROPN
arjefm-77	66	12	relation	relation	PROPN
arjefm-77	66	13	non	non	ADJ
arjefm-77	66	14	linéarité	linéarité	PROPN
arjefm-77	66	15	entre	entre	PROPN
arjefm-77	66	16	la	la	DET
arjefm-77	66	17	règlementation	règlementation	PROPN
arjefm-77	66	18	bancaire	bancaire	PROPN
arjefm-77	66	19	et	et	PROPN
arjefm-77	66	20	le	le	X
arjefm-77	66	21	risque	risque	PROPN
arjefm-77	66	22	de	de	X
arjefm-77	66	23	liquidité	liquidité	PROPN
arjefm-77	66	24	,	,	PUNCT
arjefm-77	66	25	en	en	ADP
arjefm-77	66	26	interaction	interaction	NOUN
arjefm-77	66	27	avec	avec	X
arjefm-77	66	28	le	le	PROPN
arjefm-77	66	29	marché	marché	PROPN
arjefm-77	66	30	financier	financier	PROPN
arjefm-77	66	31	.	.	PUNCT
arjefm-77	67	1	en	en	PROPN
arjefm-77	67	2	effet	effet	PROPN
arjefm-77	67	3	,	,	PUNCT
arjefm-77	67	4	nous	nous	ADJ
arjefm-77	67	5	montrons	montron	NOUN
arjefm-77	67	6	que	que	X
arjefm-77	67	7	l’efficacité	l’efficacité	NOUN
arjefm-77	67	8	de	de	X
arjefm-77	67	9	la	la	PRON
arjefm-77	67	10	règlementation	règlementation	PROPN
arjefm-77	67	11	bancaire	bancaire	PROPN
arjefm-77	67	12	est	est	PROPN
arjefm-77	67	13	réduite	réduite	PROPN
arjefm-77	67	14	au	au	PROPN
arjefm-77	67	15	-	-	PUNCT
arjefm-77	67	16	delà	delà	PROPN
arjefm-77	67	17	d’un	d’un	PROPN
arjefm-77	67	18	seuil	seuil	PROPN
arjefm-77	67	19	de	de	X
arjefm-77	67	20	capitalisation	capitalisation	PROPN
arjefm-77	67	21	boursière	boursière	PROPN
arjefm-77	67	22	de	de	X
arjefm-77	67	23	24,93	24,93	NUM
arjefm-77	67	24	%	%	NOUN
arjefm-77	67	25	.	.	PUNCT
arjefm-77	68	1	plus	plus	CCONJ
arjefm-77	68	2	précisément	précisément	X
arjefm-77	68	3	,	,	PUNCT
arjefm-77	68	4	la	la	DET
arjefm-77	68	5	règlementation	règlementation	PROPN
arjefm-77	68	6	bancaire	bancaire	PROPN
arjefm-77	68	7	réduit	réduit	PROPN
arjefm-77	68	8	le	le	X
arjefm-77	68	9	risque	risque	PROPN
arjefm-77	68	10	de	de	X
arjefm-77	68	11	liquidité	liquidité	X
arjefm-77	68	12	en	en	X
arjefm-77	68	13	dessous	dessous	PROPN
arjefm-77	68	14	du	du	X
arjefm-77	68	15	seuil	seuil	PROPN
arjefm-77	68	16	tandis	tandis	PROPN
arjefm-77	68	17	que	que	PROPN
arjefm-77	68	18	l’effet	l’effet	PROPN
arjefm-77	68	19	au	au	PROPN
arjefm-77	68	20	-	-	ADJ
arjefm-77	68	21	dessus	dessus	PROPN
arjefm-77	68	22	du	du	PROPN
arjefm-77	68	23	seuil	seuil	PROPN
arjefm-77	68	24	est	est	X
arjefm-77	68	25	positif	positif	PROPN
arjefm-77	68	26	mais	mais	X
arjefm-77	68	27	non	non	X
arjefm-77	68	28	significatif	significatif	PROPN
arjefm-77	68	29	.	.	PUNCT
arjefm-77	69	1	to	to	PART
arjefm-77	69	2	conduct	conduct	VERB
arjefm-77	69	3	this	this	DET
arjefm-77	69	4	study	study	NOUN
arjefm-77	69	5	,	,	PUNCT
arjefm-77	69	6	the	the	DET
arjefm-77	69	7	data	datum	NOUN
arjefm-77	69	8	used	use	VERB
arjefm-77	69	9	in	in	ADP
arjefm-77	69	10	our	our	PRON
arjefm-77	69	11	empirical	empirical	ADJ
arjefm-77	69	12	framework	framework	NOUN
arjefm-77	69	13	were	be	AUX
arjefm-77	69	14	obtained	obtain	VERB
arjefm-77	69	15	from	from	ADP
arjefm-77	69	16	bceao	bceao	NOUN
arjefm-77	69	17	(	(	PUNCT
arjefm-77	69	18	2020	2020	NUM
arjefm-77	69	19	)	)	PUNCT
arjefm-77	69	20	;	;	PUNCT
arjefm-77	69	21	wdi	wdi	NOUN
arjefm-77	69	22	(	(	PUNCT
arjefm-77	69	23	2020	2020	NUM
arjefm-77	69	24	)	)	PUNCT
arjefm-77	69	25	,	,	PUNCT
arjefm-77	69	26	gfdd	gfdd	NOUN
arjefm-77	69	27	(	(	PUNCT
arjefm-77	69	28	2020	2020	NUM
arjefm-77	69	29	)	)	PUNCT
arjefm-77	69	30	and	and	CCONJ
arjefm-77	69	31	cover	cover	VERB
arjefm-77	69	32	the	the	DET
arjefm-77	69	33	period	period	NOUN
arjefm-77	69	34	1996	1996	NUM
arjefm-77	69	35	-	-	SYM
arjefm-77	69	36	2018	2018	NUM
arjefm-77	69	37	.	.	PUNCT
arjefm-77	70	1	methodologically	methodologically	ADV
arjefm-77	70	2	,	,	PUNCT
arjefm-77	70	3	we	we	PRON
arjefm-77	70	4	used	use	VERB
arjefm-77	70	5	the	the	DET
arjefm-77	70	6	smooth	smooth	ADJ
arjefm-77	70	7	transition	transition	NOUN
arjefm-77	70	8	panel	panel	NOUN
arjefm-77	70	9	method	method	NOUN
arjefm-77	70	10	(	(	PUNCT
arjefm-77	70	11	stp	stp	PROPN
arjefm-77	70	12	)	)	PUNCT
arjefm-77	70	13	developed	develop	VERB
arjefm-77	70	14	by	by	ADP
arjefm-77	70	15	gonzalez	gonzalez	PROPN
arjefm-77	70	16	et	et	PROPN
arjefm-77	70	17	al	al	PROPN
arjefm-77	70	18	(	(	PUNCT
arjefm-77	70	19	2005	2005	NUM
arjefm-77	70	20	)	)	PUNCT
arjefm-77	70	21	.	.	PUNCT
arjefm-77	71	1	our	our	PRON
arjefm-77	71	2	results	result	NOUN
arjefm-77	71	3	show	show	VERB
arjefm-77	71	4	that	that	SCONJ
arjefm-77	71	5	there	there	PRON
arjefm-77	71	6	is	be	VERB
arjefm-77	71	7	a	a	DET
arjefm-77	71	8	non	non	ADJ
arjefm-77	71	9	-	-	ADJ
arjefm-77	71	10	linear	linear	ADJ
arjefm-77	71	11	relationship	relationship	NOUN
arjefm-77	71	12	between	between	ADP
arjefm-77	71	13	banking	banking	NOUN
arjefm-77	71	14	regulation	regulation	NOUN
arjefm-77	71	15	and	and	CCONJ
arjefm-77	71	16	liquidity	liquidity	NOUN
arjefm-77	71	17	risk	risk	NOUN
arjefm-77	71	18	,	,	PUNCT
arjefm-77	71	19	in	in	ADP
arjefm-77	71	20	interaction	interaction	NOUN
arjefm-77	71	21	with	with	ADP
arjefm-77	71	22	the	the	DET
arjefm-77	71	23	financial	financial	ADJ
arjefm-77	71	24	market	market	NOUN
arjefm-77	71	25	.	.	PUNCT
arjefm-77	72	1	indeed	indeed	ADV
arjefm-77	72	2	,	,	PUNCT
arjefm-77	72	3	we	we	PRON
arjefm-77	72	4	show	show	VERB
arjefm-77	72	5	that	that	SCONJ
arjefm-77	72	6	the	the	DET
arjefm-77	72	7	effectiveness	effectiveness	NOUN
arjefm-77	72	8	of	of	ADP
arjefm-77	72	9	bank	bank	NOUN
arjefm-77	72	10	regulation	regulation	NOUN
arjefm-77	72	11	is	be	AUX
arjefm-77	72	12	reduced	reduce	VERB
arjefm-77	72	13	above	above	ADP
arjefm-77	72	14	a	a	DET
arjefm-77	72	15	market	market	NOUN
arjefm-77	72	16	capitalization	capitalization	NOUN
arjefm-77	72	17	threshold	threshold	NOUN
arjefm-77	72	18	of	of	ADP
arjefm-77	72	19	24.93	24.93	NUM
arjefm-77	72	20	%	%	NOUN
arjefm-77	72	21	.	.	PUNCT
arjefm-77	73	1	more	more	ADV
arjefm-77	73	2	precisely	precisely	ADV
arjefm-77	73	3	,	,	PUNCT
arjefm-77	73	4	bank	bank	NOUN
arjefm-77	73	5	regulation	regulation	NOUN
arjefm-77	73	6	reduces	reduce	VERB
arjefm-77	73	7	liquidity	liquidity	NOUN
arjefm-77	73	8	risk	risk	NOUN
arjefm-77	73	9	below	below	ADP
arjefm-77	73	10	the	the	DET
arjefm-77	73	11	threshold	threshold	NOUN
arjefm-77	73	12	while	while	SCONJ
arjefm-77	73	13	the	the	DET
arjefm-77	73	14	effect	effect	NOUN
arjefm-77	73	15	above	above	ADP
arjefm-77	73	16	the	the	DET
arjefm-77	73	17	threshold	threshold	NOUN
arjefm-77	73	18	is	be	AUX
arjefm-77	73	19	positive	positive	ADJ
arjefm-77	73	20	but	but	CCONJ
arjefm-77	73	21	not	not	PART
arjefm-77	73	22	significant	significant	ADJ
arjefm-77	73	23	.	.	PUNCT
arjefm-77	74	1	our	our	PRON
arjefm-77	74	2	study	study	NOUN
arjefm-77	74	3	is	be	AUX
arjefm-77	74	4	not	not	PART
arjefm-77	74	5	lacking	lack	VERB
arjefm-77	74	6	in	in	ADP
arjefm-77	74	7	interest	interest	NOUN
arjefm-77	74	8	and	and	CCONJ
arjefm-77	74	9	stakes	stake	NOUN
arjefm-77	74	10	.	.	PUNCT
arjefm-77	75	1	indeed	indeed	ADV
arjefm-77	75	2	,	,	PUNCT
arjefm-77	75	3	while	while	SCONJ
arjefm-77	75	4	many	many	ADJ
arjefm-77	75	5	studies	study	NOUN
arjefm-77	75	6	have	have	AUX
arjefm-77	75	7	addressed	address	VERB
arjefm-77	75	8	the	the	DET
arjefm-77	75	9	troubled	troubled	ADJ
arjefm-77	75	10	role	role	NOUN
arjefm-77	75	11	that	that	PRON
arjefm-77	75	12	the	the	DET
arjefm-77	75	13	financial	financial	ADJ
arjefm-77	75	14	market	market	NOUN
arjefm-77	75	15	can	can	AUX
arjefm-77	75	16	play	play	VERB
arjefm-77	75	17	in	in	ADP
arjefm-77	75	18	preserving	preserve	VERB
arjefm-77	75	19	banking	banking	NOUN
arjefm-77	75	20	stability	stability	NOUN
arjefm-77	75	21	,	,	PUNCT
arjefm-77	75	22	to	to	ADP
arjefm-77	75	23	our	our	PRON
arjefm-77	75	24	knowledge	knowledge	NOUN
arjefm-77	75	25	,	,	PUNCT
arjefm-77	75	26	no	no	DET
arjefm-77	75	27	study	study	NOUN
arjefm-77	75	28	has	have	AUX
arjefm-77	75	29	conducted	conduct	VERB
arjefm-77	75	30	empirical	empirical	ADJ
arjefm-77	75	31	verification	verification	NOUN
arjefm-77	75	32	,	,	PUNCT
arjefm-77	75	33	in	in	ADP
arjefm-77	75	34	african	african	ADJ
arjefm-77	75	35	countries	country	NOUN
arjefm-77	75	36	.	.	PUNCT
arjefm-77	76	1	this	this	DET
arjefm-77	76	2	study	study	NOUN
arjefm-77	76	3	,	,	PUNCT
arjefm-77	76	4	therefore	therefore	ADV
arjefm-77	76	5	,	,	PUNCT
arjefm-77	76	6	aims	aim	VERB
arjefm-77	76	7	to	to	PART
arjefm-77	76	8	draw	draw	VERB
arjefm-77	76	9	the	the	DET
arjefm-77	76	10	attention	attention	NOUN
arjefm-77	76	11	of	of	ADP
arjefm-77	76	12	banking	banking	NOUN
arjefm-77	76	13	authorities	authority	NOUN
arjefm-77	76	14	to	to	ADP
arjefm-77	76	15	the	the	DET
arjefm-77	76	16	need	need	NOUN
arjefm-77	76	17	to	to	PART
arjefm-77	76	18	take	take	VERB
arjefm-77	76	19	into	into	ADP
arjefm-77	76	20	account	account	NOUN
arjefm-77	76	21	disintermediated	disintermediate	VERB
arjefm-77	76	22	finance	finance	NOUN
arjefm-77	76	23	activities	activity	NOUN
arjefm-77	76	24	in	in	ADP
arjefm-77	76	25	the	the	DET
arjefm-77	76	26	implementation	implementation	NOUN
arjefm-77	76	27	of	of	ADP
arjefm-77	76	28	regulatory	regulatory	ADJ
arjefm-77	76	29	provisions	provision	NOUN
arjefm-77	76	30	to	to	PART
arjefm-77	76	31	ensure	ensure	VERB
arjefm-77	76	32	the	the	DET
arjefm-77	76	33	sustainability	sustainability	NOUN
arjefm-77	76	34	of	of	ADP
arjefm-77	76	35	the	the	DET
arjefm-77	76	36	regional	regional	ADJ
arjefm-77	76	37	banking	banking	NOUN
arjefm-77	76	38	system	system	NOUN
arjefm-77	76	39	.	.	PUNCT
arjefm-77	77	1	in	in	ADP
arjefm-77	77	2	the	the	DET
arjefm-77	77	3	following	following	NOUN
arjefm-77	77	4	,	,	PUNCT
arjefm-77	77	5	we	we	PRON
arjefm-77	77	6	structure	structure	VERB
arjefm-77	77	7	this	this	DET
arjefm-77	77	8	paper	paper	NOUN
arjefm-77	77	9	as	as	SCONJ
arjefm-77	77	10	follows	follow	VERB
arjefm-77	77	11	.	.	PUNCT
arjefm-77	78	1	the	the	DET
arjefm-77	78	2	second	second	ADJ
arjefm-77	78	3	section	section	NOUN
arjefm-77	78	4	discusses	discuss	VERB
arjefm-77	78	5	the	the	DET
arjefm-77	78	6	literature	literature	PROPN
arjefm-77	78	7	review	review	PROPN
arjefm-77	78	8	.	.	PUNCT
arjefm-77	79	1	section	section	NOUN
arjefm-77	79	2	3	3	NUM
arjefm-77	79	3	presents	present	VERB
arjefm-77	79	4	the	the	DET
arjefm-77	79	5	methodological	methodological	ADJ
arjefm-77	79	6	framework	framework	NOUN
arjefm-77	79	7	adopted	adopt	VERB
arjefm-77	79	8	.	.	PUNCT
arjefm-77	80	1	section	section	NOUN
arjefm-77	80	2	4	4	NUM
arjefm-77	80	3	is	be	AUX
arjefm-77	80	4	devoted	devote	VERB
arjefm-77	80	5	to	to	ADP
arjefm-77	80	6	the	the	DET
arjefm-77	80	7	details	detail	NOUN
arjefm-77	80	8	of	of	ADP
arjefm-77	80	9	the	the	DET
arjefm-77	80	10	data	datum	NOUN
arjefm-77	80	11	,	,	PUNCT
arjefm-77	80	12	the	the	DET
arjefm-77	80	13	definition	definition	NOUN
arjefm-77	80	14	of	of	ADP
arjefm-77	80	15	the	the	DET
arjefm-77	80	16	variables	variable	NOUN
arjefm-77	80	17	,	,	PUNCT
arjefm-77	80	18	and	and	CCONJ
arjefm-77	80	19	the	the	DET
arjefm-77	80	20	descriptive	descriptive	ADJ
arjefm-77	80	21	statistics	statistic	NOUN
arjefm-77	80	22	.	.	PUNCT
arjefm-77	81	1	in	in	ADP
arjefm-77	81	2	section	section	NOUN
arjefm-77	81	3	5	5	NUM
arjefm-77	81	4	,	,	PUNCT
arjefm-77	81	5	we	we	PRON
arjefm-77	81	6	present	present	VERB
arjefm-77	81	7	the	the	DET
arjefm-77	81	8	main	main	ADJ
arjefm-77	81	9	results	result	NOUN
arjefm-77	81	10	of	of	ADP
arjefm-77	81	11	this	this	DET
arjefm-77	81	12	study	study	NOUN
arjefm-77	81	13	.	.	PUNCT
arjefm-77	82	1	the	the	DET
arjefm-77	82	2	conclusion	conclusion	NOUN
arjefm-77	82	3	is	be	AUX
arjefm-77	82	4	presented	present	VERB
arjefm-77	82	5	in	in	ADP
arjefm-77	82	6	section	section	NOUN
arjefm-77	82	7	6	6	NUM
arjefm-77	82	8	.	.	NOUN
arjefm-77	83	1	2	2	NUM
arjefm-77	83	2	.	.	X
arjefm-77	83	3	banking	banking	NOUN
arjefm-77	83	4	regulation	regulation	NOUN
arjefm-77	83	5	,	,	PUNCT
arjefm-77	83	6	bank	bank	NOUN
arjefm-77	83	7	liquidity	liquidity	NOUN
arjefm-77	83	8	risk	risk	NOUN
arjefm-77	83	9	,	,	PUNCT
arjefm-77	83	10	and	and	CCONJ
arjefm-77	83	11	financial	financial	ADJ
arjefm-77	83	12	markets	market	NOUN
arjefm-77	83	13	:	:	PUNCT
arjefm-77	83	14	theoretical	theoretical	ADJ
arjefm-77	83	15	and	and	CCONJ
arjefm-77	83	16	empirical	empirical	ADJ
arjefm-77	83	17	contributions	contribution	NOUN
arjefm-77	83	18	this	this	DET
arjefm-77	83	19	section	section	NOUN
arjefm-77	83	20	is	be	AUX
arjefm-77	83	21	organized	organize	VERB
arjefm-77	83	22	around	around	ADP
arjefm-77	83	23	two	two	NUM
arjefm-77	83	24	main	main	ADJ
arjefm-77	83	25	points	point	NOUN
arjefm-77	83	26	:	:	PUNCT
arjefm-77	83	27	the	the	DET
arjefm-77	83	28	theoretical	theoretical	ADJ
arjefm-77	83	29	review	review	NOUN
arjefm-77	83	30	and	and	CCONJ
arjefm-77	83	31	the	the	DET
arjefm-77	83	32	empirical	empirical	ADJ
arjefm-77	83	33	review	review	NOUN
arjefm-77	83	34	.	.	PUNCT
arjefm-77	84	1	the	the	DET
arjefm-77	84	2	theoretical	theoretical	ADJ
arjefm-77	84	3	review	review	NOUN
arjefm-77	84	4	focuses	focus	VERB
arjefm-77	84	5	on	on	ADP
arjefm-77	84	6	the	the	DET
arjefm-77	84	7	theoretical	theoretical	ADJ
arjefm-77	84	8	foundations	foundation	NOUN
arjefm-77	84	9	linking	link	VERB
arjefm-77	84	10	banking	banking	NOUN
arjefm-77	84	11	regulation	regulation	NOUN
arjefm-77	84	12	,	,	PUNCT
arjefm-77	84	13	liquidity	liquidity	NOUN
arjefm-77	84	14	risk	risk	NOUN
arjefm-77	84	15	,	,	PUNCT
arjefm-77	84	16	and	and	CCONJ
arjefm-77	84	17	the	the	DET
arjefm-77	84	18	financial	financial	ADJ
arjefm-77	84	19	market	market	NOUN
arjefm-77	84	20	,	,	PUNCT
arjefm-77	84	21	while	while	SCONJ
arjefm-77	84	22	the	the	DET
arjefm-77	84	23	empirical	empirical	ADJ
arjefm-77	84	24	review	review	NOUN
arjefm-77	84	25	provides	provide	VERB
arjefm-77	84	26	an	an	DET
arjefm-77	84	27	overview	overview	NOUN
arjefm-77	84	28	of	of	ADP
arjefm-77	84	29	the	the	DET
arjefm-77	84	30	various	various	ADJ
arjefm-77	84	31	empirical	empirical	ADJ
arjefm-77	84	32	works	work	NOUN
arjefm-77	84	33	.	.	PUNCT
arjefm-77	85	1	2.1	2.1	NUM
arjefm-77	85	2	.	.	PUNCT
arjefm-77	85	3	review	review	NOUN
arjefm-77	85	4	of	of	ADP
arjefm-77	85	5	the	the	DET
arjefm-77	85	6	theoretical	theoretical	ADJ
arjefm-77	85	7	literature	literature	NOUN
arjefm-77	85	8	the	the	DET
arjefm-77	85	9	link	link	NOUN
arjefm-77	85	10	between	between	ADP
arjefm-77	85	11	banking	banking	NOUN
arjefm-77	85	12	regulation	regulation	NOUN
arjefm-77	85	13	and	and	CCONJ
arjefm-77	85	14	liquidity	liquidity	NOUN
arjefm-77	85	15	risk	risk	NOUN
arjefm-77	85	16	is	be	AUX
arjefm-77	85	17	a	a	DET
arjefm-77	85	18	very	very	ADV
arjefm-77	85	19	controversial	controversial	ADJ
arjefm-77	85	20	topic	topic	NOUN
arjefm-77	85	21	in	in	ADP
arjefm-77	85	22	the	the	DET
arjefm-77	85	23	literature	literature	NOUN
arjefm-77	85	24	.	.	PUNCT
arjefm-77	86	1	the	the	DET
arjefm-77	86	2	various	various	ADJ
arjefm-77	86	3	contributions	contribution	NOUN
arjefm-77	86	4	from	from	ADP
arjefm-77	86	5	this	this	DET
arjefm-77	86	6	literature	literature	NOUN
arjefm-77	86	7	are	be	AUX
arjefm-77	86	8	essentially	essentially	ADV
arjefm-77	86	9	based	base	VERB
arjefm-77	86	10	on	on	ADP
arjefm-77	86	11	two	two	NUM
arjefm-77	86	12	main	main	ADJ
arjefm-77	86	13	opposing	opposing	ADJ
arjefm-77	86	14	points	point	NOUN
arjefm-77	86	15	of	of	ADP
arjefm-77	86	16	view	view	NOUN
arjefm-77	86	17	.	.	PUNCT
arjefm-77	87	1	indeed	indeed	ADV
arjefm-77	87	2	,	,	PUNCT
arjefm-77	87	3	while	while	SCONJ
arjefm-77	87	4	some	some	DET
arjefm-77	87	5	authors	author	NOUN
arjefm-77	87	6	claim	claim	VERB
arjefm-77	87	7	that	that	SCONJ
arjefm-77	87	8	bank	bank	NOUN
arjefm-77	87	9	regulation	regulation	NOUN
arjefm-77	87	10	reduces	reduce	VERB
arjefm-77	87	11	liquidity	liquidity	NOUN
arjefm-77	87	12	risk	risk	NOUN
arjefm-77	87	13	,	,	PUNCT
arjefm-77	87	14	other	other	ADJ
arjefm-77	87	15	authors	author	NOUN
arjefm-77	87	16	take	take	VERB
arjefm-77	87	17	a	a	DET
arjefm-77	87	18	contrary	contrary	ADJ
arjefm-77	87	19	view	view	NOUN
arjefm-77	87	20	.	.	PUNCT
arjefm-77	88	1	however	however	ADV
arjefm-77	88	2	,	,	PUNCT
arjefm-77	88	3	these	these	DET
arjefm-77	88	4	two	two	NUM
arjefm-77	88	5	views	view	NOUN
arjefm-77	88	6	are	be	AUX
arjefm-77	88	7	respectively	respectively	ADV
arjefm-77	88	8	summarized	summarize	VERB
arjefm-77	88	9	under	under	ADP
arjefm-77	88	10	the	the	DET
arjefm-77	88	11	risk	risk	NOUN
arjefm-77	88	12	absorption	absorption	NOUN
arjefm-77	88	13	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	88	14	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	89	1	american	american	PROPN
arjefm-77	89	2	research	research	PROPN
arjefm-77	89	3	journal	journal	PROPN
arjefm-77	89	4	of	of	ADP
arjefm-77	89	5	economics	economic	NOUN
arjefm-77	89	6	,	,	PUNCT
arjefm-77	89	7	finance	finance	NOUN
arjefm-77	89	8	and	and	CCONJ
arjefm-77	89	9	management	management	NOUN
arjefm-77	89	10	volume	volume	NOUN
arjefm-77	89	11	11	11	NUM
arjefm-77	89	12	issue	issue	NOUN
arjefm-77	89	13	1	1	NUM
arjefm-77	89	14	,	,	PUNCT
arjefm-77	89	15	january	january	PROPN
arjefm-77	89	16	-	-	PUNCT
arjefm-77	89	17	march	march	PROPN
arjefm-77	89	18	2023	2023	NUM
arjefm-77	89	19	issn	issn	NOUN
arjefm-77	89	20	:	:	PUNCT
arjefm-77	89	21	2836	2836	NUM
arjefm-77	89	22	-	-	SYM
arjefm-77	89	23	9416	9416	NUM
arjefm-77	89	24	impact	impact	NOUN
arjefm-77	89	25	factor	factor	NOUN
arjefm-77	89	26	:	:	PUNCT
arjefm-77	89	27	5.57	5.57	NUM
arjefm-77	89	28	journal	journal	NOUN
arjefm-77	89	29	homepage	homepage	NOUN
arjefm-77	89	30	:	:	PUNCT
arjefm-77	89	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	89	32	,	,	PUNCT
arjefm-77	89	33	email	email	NOUN
arjefm-77	89	34	:	:	PUNCT
arjefm-77	90	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	90	2	official	official	ADJ
arjefm-77	90	3	journal	journal	PROPN
arjefm-77	90	4	of	of	ADP
arjefm-77	90	5	america	america	PROPN
arjefm-77	90	6	serial	serial	PROPN
arjefm-77	90	7	publication	publication	NOUN
arjefm-77	90	8	american	american	PROPN
arjefm-77	90	9	research	research	PROPN
arjefm-77	90	10	journal	journal	PROPN
arjefm-77	90	11	of	of	ADP
arjefm-77	90	12	economics	economic	NOUN
arjefm-77	90	13	,	,	PUNCT
arjefm-77	90	14	finance	finance	NOUN
arjefm-77	90	15	and	and	CCONJ
arjefm-77	90	16	management	management	NOUN
arjefm-77	90	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	90	18	,	,	PUNCT
arjefm-77	90	19	email	email	NOUN
arjefm-77	90	20	:	:	PUNCT
arjefm-77	90	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	90	22	35	35	NUM
arjefm-77	91	1	|	|	ADV
arjefm-77	91	2	p	p	NOUN
arjefm-77	91	3	a	a	DET
arjefm-77	91	4	g	g	NOUN
arjefm-77	91	5	e	e	NOUN
arjefm-77	91	6	hypothesis	hypothesis	NOUN
arjefm-77	91	7	and	and	CCONJ
arjefm-77	91	8	the	the	DET
arjefm-77	91	9	financial	financial	ADJ
arjefm-77	91	10	fragility	fragility	NOUN
arjefm-77	91	11	hypothesis	hypothesis	NOUN
arjefm-77	91	12	.	.	PUNCT
arjefm-77	92	1	in	in	ADP
arjefm-77	92	2	this	this	DET
arjefm-77	92	3	section	section	NOUN
arjefm-77	92	4	,	,	PUNCT
arjefm-77	92	5	two	two	NUM
arjefm-77	92	6	main	main	ADJ
arjefm-77	92	7	points	point	NOUN
arjefm-77	92	8	will	will	AUX
arjefm-77	92	9	be	be	AUX
arjefm-77	92	10	discussed	discuss	VERB
arjefm-77	92	11	.	.	PUNCT
arjefm-77	93	1	the	the	DET
arjefm-77	93	2	first	first	ADJ
arjefm-77	93	3	point	point	NOUN
arjefm-77	93	4	relates	relate	VERB
arjefm-77	93	5	to	to	ADP
arjefm-77	93	6	the	the	DET
arjefm-77	93	7	arguments	argument	NOUN
arjefm-77	93	8	underlying	underlie	VERB
arjefm-77	93	9	each	each	PRON
arjefm-77	93	10	of	of	ADP
arjefm-77	93	11	the	the	DET
arjefm-77	93	12	postures	posture	NOUN
arjefm-77	93	13	in	in	ADP
arjefm-77	93	14	this	this	DET
arjefm-77	93	15	literature	literature	NOUN
arjefm-77	93	16	,	,	PUNCT
arjefm-77	93	17	while	while	SCONJ
arjefm-77	93	18	the	the	DET
arjefm-77	93	19	second	second	ADJ
arjefm-77	93	20	point	point	NOUN
arjefm-77	93	21	highlights	highlight	VERB
arjefm-77	93	22	the	the	DET
arjefm-77	93	23	role	role	NOUN
arjefm-77	93	24	of	of	ADP
arjefm-77	93	25	the	the	DET
arjefm-77	93	26	financial	financial	ADJ
arjefm-77	93	27	market	market	NOUN
arjefm-77	93	28	in	in	ADP
arjefm-77	93	29	these	these	DET
arjefm-77	93	30	dynamics.\	dynamics.\	NOUN
arjefm-77	93	31	concerning	concern	VERB
arjefm-77	93	32	the	the	DET
arjefm-77	93	33	link	link	NOUN
arjefm-77	93	34	between	between	ADP
arjefm-77	93	35	banking	banking	NOUN
arjefm-77	93	36	regulation	regulation	NOUN
arjefm-77	93	37	and	and	CCONJ
arjefm-77	93	38	liquidity	liquidity	NOUN
arjefm-77	93	39	risk	risk	NOUN
arjefm-77	93	40	,	,	PUNCT
arjefm-77	93	41	many	many	ADJ
arjefm-77	93	42	authors	author	NOUN
arjefm-77	93	43	postulate	postulate	VERB
arjefm-77	93	44	the	the	DET
arjefm-77	93	45	existence	existence	NOUN
arjefm-77	93	46	of	of	ADP
arjefm-77	93	47	a	a	DET
arjefm-77	93	48	negative	negative	ADJ
arjefm-77	93	49	relationship	relationship	NOUN
arjefm-77	93	50	.	.	PUNCT
arjefm-77	94	1	theoretically	theoretically	ADV
arjefm-77	94	2	,	,	PUNCT
arjefm-77	94	3	the	the	DET
arjefm-77	94	4	main	main	ADJ
arjefm-77	94	5	arguments	argument	NOUN
arjefm-77	94	6	developed	develop	VERB
arjefm-77	94	7	in	in	ADP
arjefm-77	94	8	this	this	DET
arjefm-77	94	9	approach	approach	NOUN
arjefm-77	94	10	are	be	AUX
arjefm-77	94	11	largely	largely	ADV
arjefm-77	94	12	based	base	VERB
arjefm-77	94	13	on	on	ADP
arjefm-77	94	14	the	the	DET
arjefm-77	94	15	risk	risk	NOUN
arjefm-77	94	16	absorption	absorption	NOUN
arjefm-77	94	17	hypothesis	hypothesis	NOUN
arjefm-77	94	18	(	(	PUNCT
arjefm-77	94	19	varotto	varotto	NOUN
arjefm-77	94	20	,	,	PUNCT
arjefm-77	94	21	2011	2011	NUM
arjefm-77	94	22	)	)	PUNCT
arjefm-77	94	23	.	.	PUNCT
arjefm-77	95	1	according	accord	VERB
arjefm-77	95	2	to	to	ADP
arjefm-77	95	3	this	this	DET
arjefm-77	95	4	hypothesis	hypothesis	NOUN
arjefm-77	95	5	,	,	PUNCT
arjefm-77	95	6	banks	bank	NOUN
arjefm-77	95	7	create	create	VERB
arjefm-77	95	8	bank	bank	NOUN
arjefm-77	95	9	liquidity	liquidity	NOUN
arjefm-77	95	10	by	by	ADP
arjefm-77	95	11	transforming	transform	VERB
arjefm-77	95	12	illiquid	illiquid	ADJ
arjefm-77	95	13	assets	asset	NOUN
arjefm-77	95	14	into	into	ADP
arjefm-77	95	15	liquid	liquid	ADJ
arjefm-77	95	16	assets	asset	NOUN
arjefm-77	95	17	.	.	PUNCT
arjefm-77	96	1	since	since	SCONJ
arjefm-77	96	2	this	this	DET
arjefm-77	96	3	process	process	NOUN
arjefm-77	96	4	generates	generate	VERB
arjefm-77	96	5	risk	risk	NOUN
arjefm-77	96	6	,	,	PUNCT
arjefm-77	96	7	the	the	DET
arjefm-77	96	8	bank	bank	NOUN
arjefm-77	96	9	may	may	AUX
arjefm-77	96	10	quickly	quickly	ADV
arjefm-77	96	11	find	find	VERB
arjefm-77	96	12	itself	itself	PRON
arjefm-77	96	13	unable	unable	ADJ
arjefm-77	96	14	to	to	PART
arjefm-77	96	15	meet	meet	VERB
arjefm-77	96	16	withdrawal	withdrawal	NOUN
arjefm-77	96	17	demands	demand	NOUN
arjefm-77	96	18	from	from	ADP
arjefm-77	96	19	customers	customer	NOUN
arjefm-77	96	20	.	.	PUNCT
arjefm-77	97	1	thus	thus	ADV
arjefm-77	97	2	,	,	PUNCT
arjefm-77	97	3	to	to	PART
arjefm-77	97	4	mitigate	mitigate	VERB
arjefm-77	97	5	such	such	DET
arjefm-77	97	6	a	a	DET
arjefm-77	97	7	situation	situation	NOUN
arjefm-77	97	8	and	and	CCONJ
arjefm-77	97	9	ensure	ensure	VERB
arjefm-77	97	10	the	the	DET
arjefm-77	97	11	continuity	continuity	NOUN
arjefm-77	97	12	of	of	ADP
arjefm-77	97	13	banking	banking	NOUN
arjefm-77	97	14	activity	activity	NOUN
arjefm-77	97	15	,	,	PUNCT
arjefm-77	97	16	banks	bank	NOUN
arjefm-77	97	17	are	be	AUX
arjefm-77	97	18	required	require	VERB
arjefm-77	97	19	to	to	PART
arjefm-77	97	20	hold	hold	VERB
arjefm-77	97	21	sufficient	sufficient	ADJ
arjefm-77	97	22	capital	capital	NOUN
arjefm-77	97	23	(	(	PUNCT
arjefm-77	97	24	berger	berger	PROPN
arjefm-77	97	25	and	and	CCONJ
arjefm-77	97	26	bowman	bowman	PROPN
arjefm-77	97	27	,	,	PUNCT
arjefm-77	97	28	2009	2009	NUM
arjefm-77	97	29	)	)	PUNCT
arjefm-77	97	30	.	.	PUNCT
arjefm-77	98	1	indeed	indeed	ADV
arjefm-77	98	2	,	,	PUNCT
arjefm-77	98	3	in	in	ADP
arjefm-77	98	4	an	an	DET
arjefm-77	98	5	environment	environment	NOUN
arjefm-77	98	6	marked	mark	VERB
arjefm-77	98	7	by	by	ADP
arjefm-77	98	8	the	the	DET
arjefm-77	98	9	permanent	permanent	ADJ
arjefm-77	98	10	presence	presence	NOUN
arjefm-77	98	11	of	of	ADP
arjefm-77	98	12	risks	risk	NOUN
arjefm-77	98	13	,	,	PUNCT
arjefm-77	98	14	meeting	meet	VERB
arjefm-77	98	15	capital	capital	NOUN
arjefm-77	98	16	requirements	requirement	NOUN
arjefm-77	98	17	has	have	VERB
arjefm-77	98	18	several	several	ADJ
arjefm-77	98	19	advantages	advantage	NOUN
arjefm-77	98	20	.	.	PUNCT
arjefm-77	99	1	first	first	ADV
arjefm-77	99	2	,	,	PUNCT
arjefm-77	99	3	bank	bank	NOUN
arjefm-77	99	4	capitalization	capitalization	NOUN
arjefm-77	99	5	can	can	AUX
arjefm-77	99	6	increase	increase	VERB
arjefm-77	99	7	the	the	DET
arjefm-77	99	8	ability	ability	NOUN
arjefm-77	99	9	of	of	ADP
arjefm-77	99	10	banks	bank	NOUN
arjefm-77	99	11	to	to	PART
arjefm-77	99	12	create	create	VERB
arjefm-77	99	13	liquidity	liquidity	NOUN
arjefm-77	99	14	,	,	PUNCT
arjefm-77	99	15	thereby	thereby	ADV
arjefm-77	99	16	removing	remove	VERB
arjefm-77	99	17	the	the	DET
arjefm-77	99	18	specter	specter	NOUN
arjefm-77	99	19	of	of	ADP
arjefm-77	99	20	a	a	DET
arjefm-77	99	21	crisis	crisis	NOUN
arjefm-77	99	22	associated	associate	VERB
arjefm-77	99	23	with	with	ADP
arjefm-77	99	24	low	low	ADJ
arjefm-77	99	25	liquidity	liquidity	NOUN
arjefm-77	99	26	asset	asset	NOUN
arjefm-77	99	27	holdings	holding	NOUN
arjefm-77	99	28	in	in	ADP
arjefm-77	99	29	their	their	PRON
arjefm-77	99	30	portfolios	portfolio	NOUN
arjefm-77	99	31	(	(	PUNCT
arjefm-77	99	32	bhattacharya	bhattacharya	NOUN
arjefm-77	99	33	and	and	CCONJ
arjefm-77	99	34	thakor	thakor	PROPN
arjefm-77	99	35	,	,	PUNCT
arjefm-77	99	36	1993	1993	NUM
arjefm-77	99	37	;	;	PUNCT
arjefm-77	99	38	allen	allen	PROPN
arjefm-77	99	39	and	and	CCONJ
arjefm-77	99	40	gale	gale	PROPN
arjefm-77	99	41	,	,	PUNCT
arjefm-77	99	42	2004	2004	NUM
arjefm-77	99	43	)	)	PUNCT
arjefm-77	99	44	.	.	PUNCT
arjefm-77	100	1	second	second	ADJ
arjefm-77	100	2	,	,	PUNCT
arjefm-77	100	3	by	by	ADP
arjefm-77	100	4	enabling	enable	VERB
arjefm-77	100	5	banks	bank	NOUN
arjefm-77	100	6	to	to	PART
arjefm-77	100	7	cope	cope	VERB
arjefm-77	100	8	with	with	ADP
arjefm-77	100	9	shocks	shock	NOUN
arjefm-77	100	10	or	or	CCONJ
arjefm-77	100	11	situations	situation	NOUN
arjefm-77	100	12	of	of	ADP
arjefm-77	100	13	an	an	DET
arjefm-77	100	14	unforeseen	unforeseen	ADJ
arjefm-77	100	15	nature	nature	NOUN
arjefm-77	100	16	,	,	PUNCT
arjefm-77	100	17	bank	bank	NOUN
arjefm-77	100	18	capitalization	capitalization	NOUN
arjefm-77	100	19	contributes	contribute	VERB
arjefm-77	100	20	greatly	greatly	ADV
arjefm-77	100	21	to	to	ADP
arjefm-77	100	22	the	the	DET
arjefm-77	100	23	strengthening	strengthening	NOUN
arjefm-77	100	24	of	of	ADP
arjefm-77	100	25	banking	banking	NOUN
arjefm-77	100	26	stability	stability	NOUN
arjefm-77	100	27	(	(	PUNCT
arjefm-77	100	28	repullo	repullo	PROPN
arjefm-77	100	29	,	,	PUNCT
arjefm-77	100	30	2004	2004	NUM
arjefm-77	100	31	)	)	PUNCT
arjefm-77	100	32	.	.	PUNCT
arjefm-77	101	1	thus	thus	ADV
arjefm-77	101	2	,	,	PUNCT
arjefm-77	101	3	bank	bank	NOUN
arjefm-77	101	4	capital	capital	NOUN
arjefm-77	101	5	plays	play	NOUN
arjefm-77	101	6	,	,	PUNCT
arjefm-77	101	7	in	in	ADP
arjefm-77	101	8	this	this	DET
arjefm-77	101	9	case	case	NOUN
arjefm-77	101	10	,	,	PUNCT
arjefm-77	101	11	the	the	DET
arjefm-77	101	12	role	role	NOUN
arjefm-77	101	13	of	of	ADP
arjefm-77	101	14	a	a	DET
arjefm-77	101	15	cushion	cushion	NOUN
arjefm-77	101	16	allowing	allow	VERB
arjefm-77	101	17	banks	bank	NOUN
arjefm-77	101	18	to	to	PART
arjefm-77	101	19	improve	improve	VERB
arjefm-77	101	20	their	their	PRON
arjefm-77	101	21	resilience	resilience	NOUN
arjefm-77	101	22	to	to	ADP
arjefm-77	101	23	instability	instability	NOUN
arjefm-77	101	24	.	.	PUNCT
arjefm-77	102	1	in	in	ADP
arjefm-77	102	2	contrast	contrast	NOUN
arjefm-77	102	3	to	to	ADP
arjefm-77	102	4	the	the	DET
arjefm-77	102	5	above	above	ADV
arjefm-77	102	6	-	-	PUNCT
arjefm-77	102	7	mentioned	mention	VERB
arjefm-77	102	8	work	work	NOUN
arjefm-77	102	9	,	,	PUNCT
arjefm-77	102	10	one	one	NUM
arjefm-77	102	11	strand	strand	NOUN
arjefm-77	102	12	of	of	ADP
arjefm-77	102	13	the	the	DET
arjefm-77	102	14	literature	literature	NOUN
arjefm-77	102	15	emphasizes	emphasize	VERB
arjefm-77	102	16	that	that	SCONJ
arjefm-77	102	17	bank	bank	NOUN
arjefm-77	102	18	regulation	regulation	NOUN
arjefm-77	102	19	can	can	AUX
arjefm-77	102	20	exacerbate	exacerbate	VERB
arjefm-77	102	21	liquidity	liquidity	NOUN
arjefm-77	102	22	risk	risk	NOUN
arjefm-77	102	23	.	.	PUNCT
arjefm-77	103	1	the	the	DET
arjefm-77	103	2	argument	argument	NOUN
arjefm-77	103	3	developed	develop	VERB
arjefm-77	103	4	in	in	ADP
arjefm-77	103	5	the	the	DET
arjefm-77	103	6	framework	framework	NOUN
arjefm-77	103	7	of	of	ADP
arjefm-77	103	8	this	this	DET
arjefm-77	103	9	approach	approach	NOUN
arjefm-77	103	10	is	be	AUX
arjefm-77	103	11	based	base	VERB
arjefm-77	103	12	on	on	ADP
arjefm-77	103	13	the	the	DET
arjefm-77	103	14	work	work	NOUN
arjefm-77	103	15	of	of	ADP
arjefm-77	103	16	diamond	diamond	NOUN
arjefm-77	103	17	and	and	CCONJ
arjefm-77	103	18	rajan	rajan	PROPN
arjefm-77	103	19	(	(	PUNCT
arjefm-77	103	20	2001	2001	NUM
arjefm-77	103	21	)	)	PUNCT
arjefm-77	103	22	.	.	PUNCT
arjefm-77	104	1	according	accord	VERB
arjefm-77	104	2	to	to	ADP
arjefm-77	104	3	these	these	DET
arjefm-77	104	4	authors	author	NOUN
arjefm-77	104	5	,	,	PUNCT
arjefm-77	104	6	this	this	DET
arjefm-77	104	7	positive	positive	ADJ
arjefm-77	104	8	relationship	relationship	NOUN
arjefm-77	104	9	could	could	AUX
arjefm-77	104	10	be	be	AUX
arjefm-77	104	11	explained	explain	VERB
arjefm-77	104	12	by	by	ADP
arjefm-77	104	13	the	the	DET
arjefm-77	104	14	fragility	fragility	NOUN
arjefm-77	104	15	of	of	ADP
arjefm-77	104	16	the	the	DET
arjefm-77	104	17	bank	bank	NOUN
arjefm-77	104	18	's	's	PART
arjefm-77	104	19	financial	financial	ADJ
arjefm-77	104	20	structure	structure	NOUN
arjefm-77	104	21	.	.	PUNCT
arjefm-77	105	1	thus	thus	ADV
arjefm-77	105	2	,	,	PUNCT
arjefm-77	105	3	according	accord	VERB
arjefm-77	105	4	to	to	ADP
arjefm-77	105	5	this	this	DET
arjefm-77	105	6	hypothesis	hypothesis	NOUN
arjefm-77	105	7	,	,	PUNCT
arjefm-77	105	8	banks	bank	NOUN
arjefm-77	105	9	as	as	SCONJ
arjefm-77	105	10	financial	financial	ADJ
arjefm-77	105	11	intermediaries	intermediary	NOUN
arjefm-77	105	12	allocate	allocate	VERB
arjefm-77	105	13	the	the	DET
arjefm-77	105	14	resources	resource	NOUN
arjefm-77	105	15	collected	collect	VERB
arjefm-77	105	16	to	to	ADP
arjefm-77	105	17	investments	investment	NOUN
arjefm-77	105	18	by	by	ADP
arjefm-77	105	19	granting	grant	VERB
arjefm-77	105	20	loans	loan	NOUN
arjefm-77	105	21	.	.	PUNCT
arjefm-77	106	1	following	follow	VERB
arjefm-77	106	2	the	the	DET
arjefm-77	106	3	loans	loan	NOUN
arjefm-77	106	4	,	,	PUNCT
arjefm-77	106	5	they	they	PRON
arjefm-77	106	6	are	be	AUX
arjefm-77	106	7	obliged	oblige	VERB
arjefm-77	106	8	to	to	PART
arjefm-77	106	9	monitor	monitor	VERB
arjefm-77	106	10	until	until	SCONJ
arjefm-77	106	11	the	the	DET
arjefm-77	106	12	interest	interest	NOUN
arjefm-77	106	13	is	be	AUX
arjefm-77	106	14	fully	fully	ADV
arjefm-77	106	15	repaid	repay	VERB
arjefm-77	106	16	.	.	PUNCT
arjefm-77	107	1	however	however	ADV
arjefm-77	107	2	,	,	PUNCT
arjefm-77	107	3	when	when	SCONJ
arjefm-77	107	4	banks	bank	NOUN
arjefm-77	107	5	are	be	AUX
arjefm-77	107	6	poorly	poorly	ADV
arjefm-77	107	7	capitalized	capitalize	VERB
arjefm-77	107	8	,	,	PUNCT
arjefm-77	107	9	they	they	PRON
arjefm-77	107	10	make	make	VERB
arjefm-77	107	11	more	more	ADJ
arjefm-77	107	12	effort	effort	NOUN
arjefm-77	107	13	in	in	ADP
arjefm-77	107	14	monitoring	monitor	VERB
arjefm-77	107	15	to	to	PART
arjefm-77	107	16	avoid	avoid	VERB
arjefm-77	107	17	the	the	DET
arjefm-77	107	18	risk	risk	NOUN
arjefm-77	107	19	of	of	ADP
arjefm-77	107	20	deposit	deposit	NOUN
arjefm-77	107	21	run	run	NOUN
arjefm-77	107	22	-	-	PUNCT
arjefm-77	107	23	off	off	NOUN
arjefm-77	107	24	.	.	PUNCT
arjefm-77	108	1	to	to	PART
arjefm-77	108	2	reassure	reassure	VERB
arjefm-77	108	3	their	their	PRON
arjefm-77	108	4	depositors	depositor	NOUN
arjefm-77	108	5	,	,	PUNCT
arjefm-77	108	6	banks	bank	NOUN
arjefm-77	108	7	are	be	AUX
arjefm-77	108	8	forced	force	VERB
arjefm-77	108	9	to	to	PART
arjefm-77	108	10	adopt	adopt	VERB
arjefm-77	108	11	a	a	DET
arjefm-77	108	12	fragile	fragile	ADJ
arjefm-77	108	13	financial	financial	ADJ
arjefm-77	108	14	structure	structure	NOUN
arjefm-77	108	15	,	,	PUNCT
arjefm-77	108	16	i.e.	i.e.	X
arjefm-77	108	17	,	,	PUNCT
arjefm-77	108	18	composed	compose	VERB
arjefm-77	108	19	largely	largely	ADV
arjefm-77	108	20	of	of	ADP
arjefm-77	108	21	liquid	liquid	ADJ
arjefm-77	108	22	assets	asset	NOUN
arjefm-77	108	23	(	(	PUNCT
arjefm-77	108	24	horvàth	horvàth	NOUN
arjefm-77	108	25	et	et	NOUN
arjefm-77	108	26	al	al	PROPN
arjefm-77	108	27	2014	2014	NUM
arjefm-77	108	28	)	)	PUNCT
arjefm-77	108	29	.	.	PUNCT
arjefm-77	109	1	yet	yet	ADV
arjefm-77	109	2	,	,	PUNCT
arjefm-77	109	3	under	under	ADP
arjefm-77	109	4	these	these	DET
arjefm-77	109	5	conditions	condition	NOUN
arjefm-77	109	6	,	,	PUNCT
arjefm-77	109	7	equity	equity	NOUN
arjefm-77	109	8	providers	provider	NOUN
arjefm-77	109	9	are	be	AUX
arjefm-77	109	10	less	less	ADV
arjefm-77	109	11	likely	likely	ADJ
arjefm-77	109	12	to	to	PART
arjefm-77	109	13	invest	invest	VERB
arjefm-77	109	14	their	their	PRON
arjefm-77	109	15	money	money	NOUN
arjefm-77	109	16	in	in	ADP
arjefm-77	109	17	less	less	ADJ
arjefm-77	109	18	risky	risky	ADJ
arjefm-77	109	19	assets	asset	NOUN
arjefm-77	109	20	,	,	PUNCT
arjefm-77	109	21	thus	thus	ADV
arjefm-77	109	22	reducing	reduce	VERB
arjefm-77	109	23	liquidity	liquidity	NOUN
arjefm-77	109	24	creation	creation	NOUN
arjefm-77	109	25	.	.	PUNCT
arjefm-77	110	1	similarly	similarly	ADV
arjefm-77	110	2	,	,	PUNCT
arjefm-77	110	3	gorton	gorton	PROPN
arjefm-77	110	4	and	and	CCONJ
arjefm-77	110	5	winton	winton	PROPN
arjefm-77	110	6	(	(	PUNCT
arjefm-77	110	7	2001	2001	NUM
arjefm-77	110	8	)	)	PUNCT
arjefm-77	110	9	argue	argue	VERB
arjefm-77	110	10	that	that	SCONJ
arjefm-77	110	11	bank	bank	NOUN
arjefm-77	110	12	capital	capital	NOUN
arjefm-77	110	13	increases	increase	VERB
arjefm-77	110	14	liquidity	liquidity	NOUN
arjefm-77	110	15	risk	risk	NOUN
arjefm-77	110	16	.	.	PUNCT
arjefm-77	111	1	for	for	ADP
arjefm-77	111	2	these	these	DET
arjefm-77	111	3	authors	author	NOUN
arjefm-77	111	4	,	,	PUNCT
arjefm-77	111	5	the	the	DET
arjefm-77	111	6	high	high	ADJ
arjefm-77	111	7	sensitivity	sensitivity	NOUN
arjefm-77	111	8	of	of	ADP
arjefm-77	111	9	bank	bank	NOUN
arjefm-77	111	10	capital	capital	NOUN
arjefm-77	111	11	to	to	ADP
arjefm-77	111	12	information	information	NOUN
arjefm-77	111	13	is	be	AUX
arjefm-77	111	14	a	a	DET
arjefm-77	111	15	potential	potential	ADJ
arjefm-77	111	16	risk	risk	NOUN
arjefm-77	111	17	factor	factor	NOUN
arjefm-77	111	18	for	for	ADP
arjefm-77	111	19	investors	investor	NOUN
arjefm-77	111	20	,	,	PUNCT
arjefm-77	111	21	as	as	SCONJ
arjefm-77	111	22	it	it	PRON
arjefm-77	111	23	may	may	AUX
arjefm-77	111	24	force	force	VERB
arjefm-77	111	25	them	they	PRON
arjefm-77	111	26	to	to	PART
arjefm-77	111	27	sell	sell	VERB
arjefm-77	111	28	capital	capital	NOUN
arjefm-77	111	29	at	at	ADP
arjefm-77	111	30	a	a	DET
arjefm-77	111	31	price	price	NOUN
arjefm-77	111	32	below	below	ADP
arjefm-77	111	33	its	its	PRON
arjefm-77	111	34	value	value	NOUN
arjefm-77	111	35	,	,	PUNCT
arjefm-77	111	36	thereby	thereby	ADV
arjefm-77	111	37	exacerbating	exacerbate	VERB
arjefm-77	111	38	liquidity	liquidity	NOUN
arjefm-77	111	39	risk	risk	NOUN
arjefm-77	111	40	within	within	ADP
arjefm-77	111	41	the	the	DET
arjefm-77	111	42	bank	bank	NOUN
arjefm-77	111	43	.	.	PUNCT
arjefm-77	112	1	the	the	DET
arjefm-77	112	2	dynamics	dynamic	NOUN
arjefm-77	112	3	of	of	ADP
arjefm-77	112	4	the	the	DET
arjefm-77	112	5	relationship	relationship	NOUN
arjefm-77	112	6	between	between	ADP
arjefm-77	112	7	bank	bank	NOUN
arjefm-77	112	8	capital	capital	NOUN
arjefm-77	112	9	and	and	CCONJ
arjefm-77	112	10	liquidity	liquidity	NOUN
arjefm-77	112	11	risk	risk	NOUN
arjefm-77	112	12	can	can	AUX
arjefm-77	112	13	also	also	ADV
arjefm-77	112	14	be	be	AUX
arjefm-77	112	15	influenced	influence	VERB
arjefm-77	112	16	by	by	ADP
arjefm-77	112	17	the	the	DET
arjefm-77	112	18	financial	financial	ADJ
arjefm-77	112	19	market	market	NOUN
arjefm-77	112	20	.	.	PUNCT
arjefm-77	113	1	indeed	indeed	ADV
arjefm-77	113	2	,	,	PUNCT
arjefm-77	113	3	in	in	ADP
arjefm-77	113	4	light	light	NOUN
arjefm-77	113	5	of	of	ADP
arjefm-77	113	6	the	the	DET
arjefm-77	113	7	recent	recent	ADJ
arjefm-77	113	8	financial	financial	ADJ
arjefm-77	113	9	crisis	crisis	NOUN
arjefm-77	113	10	,	,	PUNCT
arjefm-77	113	11	it	it	PRON
arjefm-77	113	12	has	have	AUX
arjefm-77	113	13	become	become	VERB
arjefm-77	113	14	apparent	apparent	ADJ
arjefm-77	113	15	that	that	SCONJ
arjefm-77	113	16	the	the	DET
arjefm-77	113	17	numerous	numerous	ADJ
arjefm-77	113	18	regulatory	regulatory	ADJ
arjefm-77	113	19	requirements	requirement	NOUN
arjefm-77	113	20	that	that	PRON
arjefm-77	113	21	followed	follow	VERB
arjefm-77	113	22	have	have	AUX
arjefm-77	113	23	led	lead	VERB
arjefm-77	113	24	banks	bank	NOUN
arjefm-77	113	25	to	to	PART
arjefm-77	113	26	become	become	VERB
arjefm-77	113	27	increasingly	increasingly	ADV
arjefm-77	113	28	involved	involve	VERB
arjefm-77	113	29	in	in	ADP
arjefm-77	113	30	market	market	NOUN
arjefm-77	113	31	activities	activity	NOUN
arjefm-77	113	32	.	.	PUNCT
arjefm-77	114	1	yet	yet	ADV
arjefm-77	114	2	,	,	PUNCT
arjefm-77	114	3	there	there	PRON
arjefm-77	114	4	is	be	VERB
arjefm-77	114	5	formal	formal	ADJ
arjefm-77	114	6	evidence	evidence	NOUN
arjefm-77	114	7	that	that	SCONJ
arjefm-77	114	8	these	these	DET
arjefm-77	114	9	activities	activity	NOUN
arjefm-77	114	10	can	can	AUX
arjefm-77	114	11	amplify	amplify	VERB
arjefm-77	114	12	risk	risk	NOUN
arjefm-77	114	13	and	and	CCONJ
arjefm-77	114	14	reduce	reduce	VERB
arjefm-77	114	15	overall	overall	ADJ
arjefm-77	114	16	welfare	welfare	NOUN
arjefm-77	114	17	(	(	PUNCT
arjefm-77	114	18	plantin	plantin	PROPN
arjefm-77	114	19	,	,	PUNCT
arjefm-77	114	20	2015	2015	NUM
arjefm-77	114	21	;	;	PUNCT
arjefm-77	114	22	irani	irani	PROPN
arjefm-77	114	23	et	et	PROPN
arjefm-77	114	24	al	al	PROPN
arjefm-77	114	25	,	,	PUNCT
arjefm-77	114	26	2021	2021	NUM
arjefm-77	114	27	)	)	PUNCT
arjefm-77	114	28	.	.	PUNCT
arjefm-77	115	1	the	the	DET
arjefm-77	115	2	concern	concern	NOUN
arjefm-77	115	3	about	about	ADP
arjefm-77	115	4	these	these	DET
arjefm-77	115	5	activities	activity	NOUN
arjefm-77	115	6	,	,	PUNCT
arjefm-77	115	7	in	in	ADP
arjefm-77	115	8	general	general	ADJ
arjefm-77	115	9	,	,	PUNCT
arjefm-77	115	10	is	be	AUX
arjefm-77	115	11	about	about	ADP
arjefm-77	115	12	the	the	DET
arjefm-77	115	13	instruments	instrument	NOUN
arjefm-77	115	14	used	use	VERB
arjefm-77	115	15	,	,	PUNCT
arjefm-77	115	16	and	and	CCONJ
arjefm-77	115	17	in	in	ADP
arjefm-77	115	18	particular	particular	ADJ
arjefm-77	115	19	securitization	securitization	NOUN
arjefm-77	115	20	and	and	CCONJ
arjefm-77	115	21	derivatives	derivative	NOUN
arjefm-77	115	22	.	.	PUNCT
arjefm-77	116	1	in	in	ADP
arjefm-77	116	2	this	this	DET
arjefm-77	116	3	respect	respect	NOUN
arjefm-77	116	4	,	,	PUNCT
arjefm-77	116	5	dell'ariccia	dell'ariccia	PROPN
arjefm-77	116	6	et	et	NOUN
arjefm-77	116	7	al	al	PROPN
arjefm-77	116	8	(	(	PUNCT
arjefm-77	116	9	2008	2008	NUM
arjefm-77	116	10	)	)	PUNCT
arjefm-77	116	11	indicate	indicate	VERB
arjefm-77	116	12	that	that	SCONJ
arjefm-77	116	13	derivatives	derivative	NOUN
arjefm-77	116	14	promote	promote	VERB
arjefm-77	116	15	risk	risk	NOUN
arjefm-77	116	16	.	.	PUNCT
arjefm-77	117	1	according	accord	VERB
arjefm-77	117	2	to	to	ADP
arjefm-77	117	3	them	they	PRON
arjefm-77	117	4	,	,	PUNCT
arjefm-77	117	5	since	since	SCONJ
arjefm-77	117	6	derivatives	derivative	NOUN
arjefm-77	117	7	allow	allow	VERB
arjefm-77	117	8	banks	bank	NOUN
arjefm-77	117	9	to	to	PART
arjefm-77	117	10	transfer	transfer	VERB
arjefm-77	117	11	their	their	PRON
arjefm-77	117	12	risk	risk	NOUN
arjefm-77	117	13	exposure	exposure	NOUN
arjefm-77	117	14	to	to	ADP
arjefm-77	117	15	third	third	ADJ
arjefm-77	117	16	parties	party	NOUN
arjefm-77	117	17	,	,	PUNCT
arjefm-77	117	18	they	they	PRON
arjefm-77	117	19	no	no	ADV
arjefm-77	117	20	longer	long	ADV
arjefm-77	117	21	have	have	VERB
arjefm-77	117	22	the	the	DET
arjefm-77	117	23	incentive	incentive	NOUN
arjefm-77	117	24	to	to	PART
arjefm-77	117	25	screen	screen	VERB
arjefm-77	117	26	and	and	CCONJ
arjefm-77	117	27	monitor	monitor	VERB
arjefm-77	117	28	borrowers	borrower	NOUN
arjefm-77	117	29	.	.	PUNCT
arjefm-77	118	1	moreover	moreover	ADV
arjefm-77	118	2	,	,	PUNCT
arjefm-77	118	3	the	the	DET
arjefm-77	118	4	resulting	result	VERB
arjefm-77	118	5	loss	loss	NOUN
arjefm-77	118	6	of	of	ADP
arjefm-77	118	7	information	information	NOUN
arjefm-77	118	8	could	could	AUX
arjefm-77	118	9	severely	severely	ADV
arjefm-77	118	10	aggravate	aggravate	VERB
arjefm-77	118	11	the	the	DET
arjefm-77	118	12	problems	problem	NOUN
arjefm-77	118	13	of	of	ADP
arjefm-77	118	14	information	information	NOUN
arjefm-77	118	15	asymmetry	asymmetry	NOUN
arjefm-77	118	16	while	while	SCONJ
arjefm-77	118	17	reducing	reduce	VERB
arjefm-77	118	18	market	market	NOUN
arjefm-77	118	19	efficiency	efficiency	NOUN
arjefm-77	118	20	(	(	PUNCT
arjefm-77	118	21	uhde	uhde	PROPN
arjefm-77	118	22	et	et	PROPN
arjefm-77	118	23	al	al	PROPN
arjefm-77	118	24	,	,	PUNCT
arjefm-77	118	25	2012	2012	NUM
arjefm-77	118	26	)	)	PUNCT
arjefm-77	118	27	.	.	PUNCT
arjefm-77	119	1	kirilenko	kirilenko	PROPN
arjefm-77	119	2	and	and	CCONJ
arjefm-77	119	3	lo	lo	PROPN
arjefm-77	119	4	(	(	PUNCT
arjefm-77	119	5	2013	2013	NUM
arjefm-77	119	6	)	)	PUNCT
arjefm-77	119	7	,	,	PUNCT
arjefm-77	119	8	they	they	PRON
arjefm-77	119	9	believe	believe	VERB
arjefm-77	119	10	that	that	SCONJ
arjefm-77	119	11	high	high	ADJ
arjefm-77	119	12	-	-	PUNCT
arjefm-77	119	13	frequency	frequency	NOUN
arjefm-77	119	14	trading	trading	NOUN
arjefm-77	119	15	feeds	feed	VERB
arjefm-77	119	16	speculation	speculation	NOUN
arjefm-77	119	17	on	on	ADP
arjefm-77	119	18	certain	certain	ADJ
arjefm-77	119	19	assets	asset	NOUN
arjefm-77	119	20	with	with	ADP
arjefm-77	119	21	the	the	DET
arjefm-77	119	22	consequence	consequence	NOUN
arjefm-77	119	23	of	of	ADP
arjefm-77	119	24	increasing	increase	VERB
arjefm-77	119	25	volatility	volatility	NOUN
arjefm-77	119	26	.	.	PUNCT
arjefm-77	120	1	in	in	ADP
arjefm-77	120	2	addition	addition	NOUN
arjefm-77	120	3	to	to	ADP
arjefm-77	120	4	volatility	volatility	NOUN
arjefm-77	120	5	,	,	PUNCT
arjefm-77	120	6	gemayed	gemaye	VERB
arjefm-77	120	7	and	and	CCONJ
arjefm-77	120	8	preda	preda	PROPN
arjefm-77	120	9	(	(	PUNCT
arjefm-77	120	10	2018	2018	NUM
arjefm-77	120	11	)	)	PUNCT
arjefm-77	120	12	argue	argue	VERB
arjefm-77	120	13	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-77	120	14	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	121	1	american	american	PROPN
arjefm-77	121	2	research	research	PROPN
arjefm-77	121	3	journal	journal	PROPN
arjefm-77	121	4	of	of	ADP
arjefm-77	121	5	economics	economic	NOUN
arjefm-77	121	6	,	,	PUNCT
arjefm-77	121	7	finance	finance	NOUN
arjefm-77	121	8	and	and	CCONJ
arjefm-77	121	9	management	management	NOUN
arjefm-77	121	10	volume	volume	NOUN
arjefm-77	121	11	11	11	NUM
arjefm-77	121	12	issue	issue	NOUN
arjefm-77	121	13	1	1	NUM
arjefm-77	121	14	,	,	PUNCT
arjefm-77	121	15	january	january	PROPN
arjefm-77	121	16	-	-	PUNCT
arjefm-77	121	17	march	march	PROPN
arjefm-77	121	18	2023	2023	NUM
arjefm-77	121	19	issn	issn	NOUN
arjefm-77	121	20	:	:	PUNCT
arjefm-77	121	21	2836	2836	NUM
arjefm-77	121	22	-	-	SYM
arjefm-77	121	23	9416	9416	NUM
arjefm-77	121	24	impact	impact	NOUN
arjefm-77	121	25	factor	factor	NOUN
arjefm-77	121	26	:	:	PUNCT
arjefm-77	121	27	5.57	5.57	NUM
arjefm-77	121	28	journal	journal	NOUN
arjefm-77	121	29	homepage	homepage	NOUN
arjefm-77	121	30	:	:	PUNCT
arjefm-77	121	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	121	32	,	,	PUNCT
arjefm-77	121	33	email	email	NOUN
arjefm-77	121	34	:	:	PUNCT
arjefm-77	122	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	122	2	official	official	ADJ
arjefm-77	122	3	journal	journal	PROPN
arjefm-77	122	4	of	of	ADP
arjefm-77	122	5	america	america	PROPN
arjefm-77	122	6	serial	serial	PROPN
arjefm-77	122	7	publication	publication	NOUN
arjefm-77	122	8	american	american	PROPN
arjefm-77	122	9	research	research	PROPN
arjefm-77	122	10	journal	journal	PROPN
arjefm-77	122	11	of	of	ADP
arjefm-77	122	12	economics	economic	NOUN
arjefm-77	122	13	,	,	PUNCT
arjefm-77	122	14	finance	finance	NOUN
arjefm-77	122	15	and	and	CCONJ
arjefm-77	122	16	management	management	NOUN
arjefm-77	122	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	122	18	,	,	PUNCT
arjefm-77	122	19	email	email	NOUN
arjefm-77	122	20	:	:	PUNCT
arjefm-77	122	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	123	1	36	36	NUM
arjefm-77	124	1	|	|	ADV
arjefm-77	124	2	p	p	X
arjefm-77	124	3	a	a	DET
arjefm-77	124	4	g	g	NOUN
arjefm-77	124	5	e	e	NOUN
arjefm-77	124	6	that	that	PRON
arjefm-77	124	7	it	it	PRON
arjefm-77	124	8	can	can	AUX
arjefm-77	124	9	also	also	ADV
arjefm-77	124	10	promote	promote	VERB
arjefm-77	124	11	procyclicality	procyclicality	NOUN
arjefm-77	124	12	and	and	CCONJ
arjefm-77	124	13	be	be	AUX
arjefm-77	124	14	the	the	DET
arjefm-77	124	15	cause	cause	NOUN
arjefm-77	124	16	of	of	ADP
arjefm-77	124	17	a	a	DET
arjefm-77	124	18	financial	financial	ADJ
arjefm-77	124	19	crisis	crisis	NOUN
arjefm-77	124	20	.	.	PUNCT
arjefm-77	125	1	moreover	moreover	ADV
arjefm-77	125	2	,	,	PUNCT
arjefm-77	125	3	in	in	ADP
arjefm-77	125	4	the	the	DET
arjefm-77	125	5	face	face	NOUN
arjefm-77	125	6	of	of	ADP
arjefm-77	125	7	stressful	stressful	ADJ
arjefm-77	125	8	episodes	episode	NOUN
arjefm-77	125	9	,	,	PUNCT
arjefm-77	125	10	the	the	DET
arjefm-77	125	11	observed	observe	VERB
arjefm-77	125	12	mimicry	mimicry	ADJ
arjefm-77	125	13	effects	effect	NOUN
arjefm-77	125	14	can	can	AUX
arjefm-77	125	15	promote	promote	VERB
arjefm-77	125	16	contagion	contagion	NOUN
arjefm-77	125	17	and	and	CCONJ
arjefm-77	125	18	create	create	VERB
arjefm-77	125	19	a	a	DET
arjefm-77	125	20	crisis	crisis	NOUN
arjefm-77	125	21	of	of	ADP
arjefm-77	125	22	systemic	systemic	ADJ
arjefm-77	125	23	nature	nature	NOUN
arjefm-77	125	24	.	.	PUNCT
arjefm-77	126	1	in	in	ADP
arjefm-77	126	2	this	this	DET
arjefm-77	126	3	context	context	NOUN
arjefm-77	126	4	,	,	PUNCT
arjefm-77	126	5	marketrelated	marketrelate	VERB
arjefm-77	126	6	activities	activity	NOUN
arjefm-77	126	7	could	could	AUX
arjefm-77	126	8	potentially	potentially	ADV
arjefm-77	126	9	weaken	weaken	VERB
arjefm-77	126	10	the	the	DET
arjefm-77	126	11	banking	banking	NOUN
arjefm-77	126	12	system	system	NOUN
arjefm-77	126	13	by	by	ADP
arjefm-77	126	14	attenuating	attenuate	VERB
arjefm-77	126	15	the	the	DET
arjefm-77	126	16	capacity	capacity	NOUN
arjefm-77	126	17	of	of	ADP
arjefm-77	126	18	banking	banking	NOUN
arjefm-77	126	19	regulation	regulation	NOUN
arjefm-77	126	20	to	to	PART
arjefm-77	126	21	deal	deal	VERB
arjefm-77	126	22	with	with	ADP
arjefm-77	126	23	risks	risk	NOUN
arjefm-77	126	24	.	.	PUNCT
arjefm-77	127	1	2.2	2.2	NUM
arjefm-77	127	2	.	.	PUNCT
arjefm-77	127	3	review	review	NOUN
arjefm-77	127	4	of	of	ADP
arjefm-77	127	5	the	the	DET
arjefm-77	127	6	empirical	empirical	ADJ
arjefm-77	127	7	literature	literature	NOUN
arjefm-77	127	8	in	in	ADP
arjefm-77	127	9	their	their	PRON
arjefm-77	127	10	seminal	seminal	ADJ
arjefm-77	127	11	contribution	contribution	NOUN
arjefm-77	127	12	,	,	PUNCT
arjefm-77	127	13	berger	berger	PROPN
arjefm-77	127	14	and	and	CCONJ
arjefm-77	127	15	bowman	bowman	PROPN
arjefm-77	127	16	(	(	PUNCT
arjefm-77	127	17	2009	2009	NUM
arjefm-77	127	18	)	)	PUNCT
arjefm-77	127	19	analyze	analyze	VERB
arjefm-77	127	20	the	the	DET
arjefm-77	127	21	effects	effect	NOUN
arjefm-77	127	22	of	of	ADP
arjefm-77	127	23	bank	bank	NOUN
arjefm-77	127	24	regulation	regulation	NOUN
arjefm-77	127	25	on	on	ADP
arjefm-77	127	26	liquidity	liquidity	NOUN
arjefm-77	127	27	creation	creation	NOUN
arjefm-77	127	28	.	.	PUNCT
arjefm-77	128	1	they	they	PRON
arjefm-77	128	2	use	use	VERB
arjefm-77	128	3	a	a	DET
arjefm-77	128	4	sample	sample	NOUN
arjefm-77	128	5	of	of	ADP
arjefm-77	128	6	u.s	u.s	PROPN
arjefm-77	128	7	.	.	PROPN
arjefm-77	128	8	commercial	commercial	ADJ
arjefm-77	128	9	banks	bank	NOUN
arjefm-77	128	10	over	over	ADP
arjefm-77	128	11	the	the	DET
arjefm-77	128	12	period	period	NOUN
arjefm-77	128	13	1993	1993	NUM
arjefm-77	128	14	to	to	ADP
arjefm-77	128	15	2003	2003	NUM
arjefm-77	128	16	.	.	PUNCT
arjefm-77	129	1	the	the	DET
arjefm-77	129	2	results	result	NOUN
arjefm-77	129	3	of	of	ADP
arjefm-77	129	4	this	this	DET
arjefm-77	129	5	study	study	NOUN
arjefm-77	129	6	reveal	reveal	VERB
arjefm-77	129	7	that	that	SCONJ
arjefm-77	129	8	regulatory	regulatory	ADJ
arjefm-77	129	9	capital	capital	NOUN
arjefm-77	129	10	reduces	reduce	VERB
arjefm-77	129	11	liquidity	liquidity	NOUN
arjefm-77	129	12	risk	risk	NOUN
arjefm-77	129	13	at	at	ADP
arjefm-77	129	14	large	large	ADJ
arjefm-77	129	15	banks	bank	NOUN
arjefm-77	129	16	while	while	SCONJ
arjefm-77	129	17	it	it	PRON
arjefm-77	129	18	tends	tend	VERB
arjefm-77	129	19	to	to	PART
arjefm-77	129	20	exacerbate	exacerbate	VERB
arjefm-77	129	21	it	it	PRON
arjefm-77	129	22	at	at	ADP
arjefm-77	129	23	small	small	ADJ
arjefm-77	129	24	banks	bank	NOUN
arjefm-77	129	25	.	.	PUNCT
arjefm-77	130	1	at	at	ADP
arjefm-77	130	2	the	the	DET
arjefm-77	130	3	level	level	NOUN
arjefm-77	130	4	of	of	ADP
arjefm-77	130	5	medium	medium	ADJ
arjefm-77	130	6	-	-	PUNCT
arjefm-77	130	7	sized	sized	ADJ
arjefm-77	130	8	banks	bank	NOUN
arjefm-77	130	9	,	,	PUNCT
arjefm-77	130	10	however	however	ADV
arjefm-77	130	11	,	,	PUNCT
arjefm-77	130	12	this	this	DET
arjefm-77	130	13	relationship	relationship	NOUN
arjefm-77	130	14	is	be	AUX
arjefm-77	130	15	not	not	PART
arjefm-77	130	16	significant	significant	ADJ
arjefm-77	130	17	,	,	PUNCT
arjefm-77	130	18	indicating	indicate	VERB
arjefm-77	130	19	a	a	DET
arjefm-77	130	20	suppression	suppression	NOUN
arjefm-77	130	21	of	of	ADP
arjefm-77	130	22	both	both	DET
arjefm-77	130	23	effects	effect	NOUN
arjefm-77	130	24	for	for	ADP
arjefm-77	130	25	banks	bank	NOUN
arjefm-77	130	26	belonging	belong	VERB
arjefm-77	130	27	to	to	ADP
arjefm-77	130	28	this	this	DET
arjefm-77	130	29	class	class	NOUN
arjefm-77	130	30	.	.	PUNCT
arjefm-77	131	1	fungáčová	fungáčová	PROPN
arjefm-77	131	2	et	et	PROPN
arjefm-77	131	3	al	al	PROPN
arjefm-77	131	4	(	(	PUNCT
arjefm-77	131	5	2010	2010	NUM
arjefm-77	131	6	)	)	PUNCT
arjefm-77	131	7	focus	focus	NOUN
arjefm-77	131	8	on	on	ADP
arjefm-77	131	9	the	the	DET
arjefm-77	131	10	case	case	NOUN
arjefm-77	131	11	of	of	ADP
arjefm-77	131	12	russia	russia	PROPN
arjefm-77	131	13	,	,	PUNCT
arjefm-77	131	14	following	follow	VERB
arjefm-77	131	15	the	the	DET
arjefm-77	131	16	adoption	adoption	NOUN
arjefm-77	131	17	of	of	ADP
arjefm-77	131	18	the	the	DET
arjefm-77	131	19	deposit	deposit	NOUN
arjefm-77	131	20	insurance	insurance	NOUN
arjefm-77	131	21	system	system	NOUN
arjefm-77	131	22	.	.	PUNCT
arjefm-77	132	1	applying	apply	VERB
arjefm-77	132	2	an	an	DET
arjefm-77	132	3	experimental	experimental	ADJ
arjefm-77	132	4	method	method	NOUN
arjefm-77	132	5	,	,	PUNCT
arjefm-77	132	6	to	to	ADP
arjefm-77	132	7	bank	bank	NOUN
arjefm-77	132	8	data	datum	NOUN
arjefm-77	132	9	,	,	PUNCT
arjefm-77	132	10	between	between	ADP
arjefm-77	132	11	1999	1999	NUM
arjefm-77	132	12	and	and	CCONJ
arjefm-77	132	13	2007	2007	NUM
arjefm-77	132	14	,	,	PUNCT
arjefm-77	132	15	they	they	PRON
arjefm-77	132	16	find	find	VERB
arjefm-77	132	17	that	that	SCONJ
arjefm-77	132	18	bank	bank	NOUN
arjefm-77	132	19	regulation	regulation	NOUN
arjefm-77	132	20	increases	increase	VERB
arjefm-77	132	21	liquidity	liquidity	NOUN
arjefm-77	132	22	risk	risk	NOUN
arjefm-77	132	23	before	before	ADP
arjefm-77	132	24	and	and	CCONJ
arjefm-77	132	25	after	after	ADP
arjefm-77	132	26	the	the	DET
arjefm-77	132	27	adoption	adoption	NOUN
arjefm-77	132	28	of	of	ADP
arjefm-77	132	29	the	the	DET
arjefm-77	132	30	deposit	deposit	NOUN
arjefm-77	132	31	insurance	insurance	NOUN
arjefm-77	132	32	system	system	NOUN
arjefm-77	132	33	.	.	PUNCT
arjefm-77	133	1	moreover	moreover	ADV
arjefm-77	133	2	,	,	PUNCT
arjefm-77	133	3	they	they	PRON
arjefm-77	133	4	find	find	VERB
arjefm-77	133	5	that	that	SCONJ
arjefm-77	133	6	this	this	DET
arjefm-77	133	7	relationship	relationship	NOUN
arjefm-77	133	8	varies	vary	VERB
arjefm-77	133	9	with	with	ADP
arjefm-77	133	10	size	size	NOUN
arjefm-77	133	11	and	and	CCONJ
arjefm-77	133	12	ownership	ownership	NOUN
arjefm-77	133	13	structure	structure	NOUN
arjefm-77	133	14	.	.	PUNCT
arjefm-77	134	1	indeed	indeed	ADV
arjefm-77	134	2	,	,	PUNCT
arjefm-77	134	3	the	the	DET
arjefm-77	134	4	increase	increase	NOUN
arjefm-77	134	5	in	in	ADP
arjefm-77	134	6	liquidity	liquidity	NOUN
arjefm-77	134	7	risk	risk	NOUN
arjefm-77	134	8	is	be	AUX
arjefm-77	134	9	significant	significant	ADJ
arjefm-77	134	10	for	for	ADP
arjefm-77	134	11	small	small	ADJ
arjefm-77	134	12	banks	bank	NOUN
arjefm-77	134	13	,	,	PUNCT
arjefm-77	134	14	medium	medium	ADJ
arjefm-77	134	15	-	-	PUNCT
arjefm-77	134	16	sized	sized	ADJ
arjefm-77	134	17	banks	bank	NOUN
arjefm-77	134	18	,	,	PUNCT
arjefm-77	134	19	and	and	CCONJ
arjefm-77	134	20	domestic	domestic	ADJ
arjefm-77	134	21	private	private	ADJ
arjefm-77	134	22	banks	bank	NOUN
arjefm-77	134	23	,	,	PUNCT
arjefm-77	134	24	while	while	SCONJ
arjefm-77	134	25	it	it	PRON
arjefm-77	134	26	is	be	AUX
arjefm-77	134	27	not	not	PART
arjefm-77	134	28	significant	significant	ADJ
arjefm-77	134	29	for	for	ADP
arjefm-77	134	30	large	large	ADJ
arjefm-77	134	31	banks	bank	NOUN
arjefm-77	134	32	,	,	PUNCT
arjefm-77	134	33	foreign	foreign	ADJ
arjefm-77	134	34	banks	bank	NOUN
arjefm-77	134	35	,	,	PUNCT
arjefm-77	134	36	and	and	CCONJ
arjefm-77	134	37	state	state	NOUN
arjefm-77	134	38	-	-	PUNCT
arjefm-77	134	39	owned	own	VERB
arjefm-77	134	40	banks	bank	NOUN
arjefm-77	134	41	.	.	PUNCT
arjefm-77	135	1	berger	berger	PROPN
arjefm-77	135	2	et	et	PROPN
arjefm-77	135	3	al	al	PROPN
arjefm-77	135	4	(	(	PUNCT
arjefm-77	135	5	2014	2014	NUM
arjefm-77	135	6	)	)	PUNCT
arjefm-77	135	7	study	study	VERB
arjefm-77	135	8	how	how	SCONJ
arjefm-77	135	9	regulatory	regulatory	ADJ
arjefm-77	135	10	interventions	intervention	NOUN
arjefm-77	135	11	and	and	CCONJ
arjefm-77	135	12	capital	capital	NOUN
arjefm-77	135	13	injections	injection	NOUN
arjefm-77	135	14	jointly	jointly	ADV
arjefm-77	135	15	influence	influence	VERB
arjefm-77	135	16	risktaking	risktaking	ADJ
arjefm-77	135	17	and	and	CCONJ
arjefm-77	135	18	liquidity	liquidity	NOUN
arjefm-77	135	19	creation	creation	NOUN
arjefm-77	135	20	in	in	ADP
arjefm-77	135	21	germany	germany	PROPN
arjefm-77	135	22	.	.	PUNCT
arjefm-77	136	1	using	use	VERB
arjefm-77	136	2	the	the	DET
arjefm-77	136	3	instrumental	instrumental	ADJ
arjefm-77	136	4	variables	variable	NOUN
arjefm-77	136	5	method	method	NOUN
arjefm-77	136	6	,	,	PUNCT
arjefm-77	136	7	they	they	PRON
arjefm-77	136	8	find	find	VERB
arjefm-77	136	9	that	that	SCONJ
arjefm-77	136	10	regulatory	regulatory	ADJ
arjefm-77	136	11	interventions	intervention	NOUN
arjefm-77	136	12	increase	increase	VERB
arjefm-77	136	13	liquidity	liquidity	NOUN
arjefm-77	136	14	risk	risk	NOUN
arjefm-77	136	15	while	while	SCONJ
arjefm-77	136	16	capital	capital	NOUN
arjefm-77	136	17	support	support	NOUN
arjefm-77	136	18	appears	appear	VERB
arjefm-77	136	19	to	to	PART
arjefm-77	136	20	be	be	AUX
arjefm-77	136	21	insignificant	insignificant	ADJ
arjefm-77	136	22	.	.	PUNCT
arjefm-77	137	1	for	for	ADP
arjefm-77	137	2	the	the	DET
arjefm-77	137	3	czech	czech	PROPN
arjefm-77	137	4	republic	republic	NOUN
arjefm-77	137	5	,	,	PUNCT
arjefm-77	137	6	horvàth	horvàth	VERB
arjefm-77	137	7	et	et	PROPN
arjefm-77	137	8	al	al	PROPN
arjefm-77	137	9	(	(	PUNCT
arjefm-77	137	10	2014	2014	NUM
arjefm-77	137	11	)	)	PUNCT
arjefm-77	137	12	examined	examine	VERB
arjefm-77	137	13	the	the	DET
arjefm-77	137	14	relationship	relationship	NOUN
arjefm-77	137	15	between	between	ADP
arjefm-77	137	16	bank	bank	NOUN
arjefm-77	137	17	capital	capital	NOUN
arjefm-77	137	18	and	and	CCONJ
arjefm-77	137	19	liquidity	liquidity	NOUN
arjefm-77	137	20	creation	creation	NOUN
arjefm-77	137	21	.	.	PUNCT
arjefm-77	138	1	this	this	DET
arjefm-77	138	2	study	study	NOUN
arjefm-77	138	3	differs	differ	VERB
arjefm-77	138	4	from	from	ADP
arjefm-77	138	5	the	the	DET
arjefm-77	138	6	previous	previous	ADJ
arjefm-77	138	7	ones	one	NOUN
arjefm-77	138	8	by	by	ADP
arjefm-77	138	9	taking	take	VERB
arjefm-77	138	10	into	into	ADP
arjefm-77	138	11	account	account	NOUN
arjefm-77	138	12	a	a	DET
arjefm-77	138	13	possible	possible	ADJ
arjefm-77	138	14	causality	causality	NOUN
arjefm-77	138	15	between	between	ADP
arjefm-77	138	16	these	these	DET
arjefm-77	138	17	two	two	NUM
arjefm-77	138	18	variables	variable	NOUN
arjefm-77	138	19	.	.	PUNCT
arjefm-77	139	1	the	the	DET
arjefm-77	139	2	use	use	NOUN
arjefm-77	139	3	of	of	ADP
arjefm-77	139	4	the	the	DET
arjefm-77	139	5	granger	granger	PROPN
arjefm-77	139	6	causality	causality	PROPN
arjefm-77	139	7	test	test	NOUN
arjefm-77	139	8	allows	allow	VERB
arjefm-77	139	9	us	we	PRON
arjefm-77	139	10	to	to	PART
arjefm-77	139	11	find	find	VERB
arjefm-77	139	12	the	the	DET
arjefm-77	139	13	existence	existence	NOUN
arjefm-77	139	14	of	of	ADP
arjefm-77	139	15	a	a	DET
arjefm-77	139	16	negative	negative	ADJ
arjefm-77	139	17	bidirectional	bidirectional	ADJ
arjefm-77	139	18	causal	causal	NOUN
arjefm-77	139	19	relationship	relationship	NOUN
arjefm-77	139	20	between	between	ADP
arjefm-77	139	21	bank	bank	NOUN
arjefm-77	139	22	capital	capital	NOUN
arjefm-77	139	23	and	and	CCONJ
arjefm-77	139	24	liquidity	liquidity	NOUN
arjefm-77	139	25	creation	creation	NOUN
arjefm-77	139	26	.	.	PUNCT
arjefm-77	140	1	these	these	DET
arjefm-77	140	2	results	result	NOUN
arjefm-77	140	3	show	show	VERB
arjefm-77	140	4	that	that	SCONJ
arjefm-77	140	5	capital	capital	NOUN
arjefm-77	140	6	requirements	requirement	NOUN
arjefm-77	140	7	reduce	reduce	VERB
arjefm-77	140	8	liquidity	liquidity	NOUN
arjefm-77	140	9	creation	creation	NOUN
arjefm-77	140	10	(	(	PUNCT
arjefm-77	140	11	increase	increase	VERB
arjefm-77	140	12	liquidity	liquidity	NOUN
arjefm-77	140	13	risk	risk	NOUN
arjefm-77	140	14	)	)	PUNCT
arjefm-77	140	15	.	.	PUNCT
arjefm-77	141	1	on	on	ADP
arjefm-77	141	2	the	the	DET
arjefm-77	141	3	other	other	ADJ
arjefm-77	141	4	hand	hand	NOUN
arjefm-77	141	5	,	,	PUNCT
arjefm-77	141	6	bank	bank	NOUN
arjefm-77	141	7	liquidity	liquidity	NOUN
arjefm-77	141	8	creation	creation	NOUN
arjefm-77	141	9	can	can	AUX
arjefm-77	141	10	also	also	ADV
arjefm-77	141	11	reduce	reduce	VERB
arjefm-77	141	12	bank	bank	NOUN
arjefm-77	141	13	capital	capital	NOUN
arjefm-77	141	14	and	and	CCONJ
arjefm-77	141	15	expose	expose	VERB
arjefm-77	141	16	the	the	DET
arjefm-77	141	17	bank	bank	NOUN
arjefm-77	141	18	to	to	ADP
arjefm-77	141	19	insolvency	insolvency	NOUN
arjefm-77	141	20	risk	risk	NOUN
arjefm-77	141	21	.	.	PUNCT
arjefm-77	142	1	with	with	ADP
arjefm-77	142	2	a	a	DET
arjefm-77	142	3	simultaneous	simultaneous	ADJ
arjefm-77	142	4	equation	equation	NOUN
arjefm-77	142	5	model	model	NOUN
arjefm-77	142	6	,	,	PUNCT
arjefm-77	142	7	distinguin	distinguin	PROPN
arjefm-77	142	8	et	et	PROPN
arjefm-77	142	9	al	al	PROPN
arjefm-77	142	10	(	(	PUNCT
arjefm-77	142	11	2013	2013	NUM
arjefm-77	142	12	)	)	PUNCT
arjefm-77	142	13	indicate	indicate	VERB
arjefm-77	142	14	in	in	ADP
arjefm-77	142	15	the	the	DET
arjefm-77	142	16	european	european	ADJ
arjefm-77	142	17	case	case	NOUN
arjefm-77	142	18	that	that	SCONJ
arjefm-77	142	19	banks	bank	NOUN
arjefm-77	142	20	reduce	reduce	VERB
arjefm-77	142	21	their	their	PRON
arjefm-77	142	22	regulatory	regulatory	ADJ
arjefm-77	142	23	capital	capital	NOUN
arjefm-77	142	24	when	when	SCONJ
arjefm-77	142	25	they	they	PRON
arjefm-77	142	26	create	create	VERB
arjefm-77	142	27	a	a	DET
arjefm-77	142	28	lot	lot	NOUN
arjefm-77	142	29	of	of	ADP
arjefm-77	142	30	liquidity	liquidity	NOUN
arjefm-77	142	31	.	.	PUNCT
arjefm-77	143	1	on	on	ADP
arjefm-77	143	2	the	the	DET
arjefm-77	143	3	asia	asia	PROPN
arjefm-77	143	4	-	-	PUNCT
arjefm-77	143	5	pacific	pacific	PROPN
arjefm-77	143	6	side	side	NOUN
arjefm-77	143	7	,	,	PUNCT
arjefm-77	143	8	fu	fu	NOUN
arjefm-77	143	9	et	et	NOUN
arjefm-77	143	10	al.(2016	al.(2016	PROPN
arjefm-77	143	11	)	)	PUNCT
arjefm-77	143	12	examines	examine	VERB
arjefm-77	143	13	a	a	DET
arjefm-77	143	14	set	set	NOUN
arjefm-77	143	15	of	of	ADP
arjefm-77	143	16	commercial	commercial	ADJ
arjefm-77	143	17	banks	bank	NOUN
arjefm-77	143	18	from	from	ADP
arjefm-77	143	19	14	14	NUM
arjefm-77	143	20	countries	country	NOUN
arjefm-77	143	21	.	.	PUNCT
arjefm-77	144	1	they	they	PRON
arjefm-77	144	2	observe	observe	VERB
arjefm-77	144	3	that	that	SCONJ
arjefm-77	144	4	bank	bank	NOUN
arjefm-77	144	5	capital	capital	NOUN
arjefm-77	144	6	improves	improve	VERB
arjefm-77	144	7	the	the	DET
arjefm-77	144	8	liquidity	liquidity	NOUN
arjefm-77	144	9	of	of	ADP
arjefm-77	144	10	large	large	ADJ
arjefm-77	144	11	banks	bank	NOUN
arjefm-77	144	12	as	as	ADV
arjefm-77	144	13	well	well	ADV
arjefm-77	144	14	as	as	ADP
arjefm-77	144	15	banks	bank	NOUN
arjefm-77	144	16	located	locate	VERB
arjefm-77	144	17	in	in	ADP
arjefm-77	144	18	developing	develop	VERB
arjefm-77	144	19	countries	country	NOUN
arjefm-77	144	20	in	in	ADP
arjefm-77	144	21	asia	asia	PROPN
arjefm-77	144	22	.	.	PUNCT
arjefm-77	145	1	furthermore	furthermore	ADV
arjefm-77	145	2	,	,	PUNCT
arjefm-77	145	3	the	the	DET
arjefm-77	145	4	causality	causality	NOUN
arjefm-77	145	5	study	study	NOUN
arjefm-77	145	6	finds	find	VERB
arjefm-77	145	7	that	that	SCONJ
arjefm-77	145	8	the	the	DET
arjefm-77	145	9	trade	trade	NOUN
arjefm-77	145	10	-	-	PUNCT
arjefm-77	145	11	off	off	NOUN
arjefm-77	145	12	between	between	ADP
arjefm-77	145	13	the	the	DET
arjefm-77	145	14	financial	financial	ADJ
arjefm-77	145	15	stability	stability	NOUN
arjefm-77	145	16	benefits	benefit	NOUN
arjefm-77	145	17	of	of	ADP
arjefm-77	145	18	higher	high	ADJ
arjefm-77	145	19	capital	capital	NOUN
arjefm-77	145	20	requirements	requirement	NOUN
arjefm-77	145	21	and	and	CCONJ
arjefm-77	145	22	those	those	PRON
arjefm-77	145	23	of	of	ADP
arjefm-77	145	24	greater	great	ADJ
arjefm-77	145	25	liquidity	liquidity	NOUN
arjefm-77	145	26	creation	creation	NOUN
arjefm-77	145	27	applies	apply	VERB
arjefm-77	145	28	to	to	ADP
arjefm-77	145	29	all	all	DET
arjefm-77	145	30	banks	bank	NOUN
arjefm-77	145	31	in	in	ADP
arjefm-77	145	32	the	the	DET
arjefm-77	145	33	sample	sample	NOUN
arjefm-77	145	34	,	,	PUNCT
arjefm-77	145	35	regardless	regardless	ADV
arjefm-77	145	36	of	of	ADP
arjefm-77	145	37	their	their	PRON
arjefm-77	145	38	size	size	NOUN
arjefm-77	145	39	and	and	CCONJ
arjefm-77	145	40	economic	economic	ADJ
arjefm-77	145	41	region	region	NOUN
arjefm-77	145	42	.	.	PUNCT
arjefm-77	146	1	examining	examine	VERB
arjefm-77	146	2	35	35	NUM
arjefm-77	146	3	asian	asian	ADJ
arjefm-77	146	4	countries	country	NOUN
arjefm-77	146	5	,	,	PUNCT
arjefm-77	146	6	hsieh	hsieh	PROPN
arjefm-77	146	7	et	et	PROPN
arjefm-77	146	8	al	al	PROPN
arjefm-77	146	9	(	(	PUNCT
arjefm-77	146	10	2022	2022	NUM
arjefm-77	146	11	)	)	PUNCT
arjefm-77	146	12	show	show	VERB
arjefm-77	146	13	that	that	SCONJ
arjefm-77	146	14	bank	bank	NOUN
arjefm-77	146	15	capital	capital	NOUN
arjefm-77	146	16	increases	increase	VERB
arjefm-77	146	17	liquidity	liquidity	NOUN
arjefm-77	146	18	but	but	CCONJ
arjefm-77	146	19	does	do	AUX
arjefm-77	146	20	not	not	PART
arjefm-77	146	21	lead	lead	VERB
arjefm-77	146	22	to	to	ADP
arjefm-77	146	23	increased	increase	VERB
arjefm-77	146	24	bank	bank	NOUN
arjefm-77	146	25	lending	lending	NOUN
arjefm-77	146	26	.	.	PUNCT
arjefm-77	147	1	thus	thus	ADV
arjefm-77	147	2	,	,	PUNCT
arjefm-77	147	3	the	the	PRON
arjefm-77	147	4	higher	high	ADJ
arjefm-77	147	5	the	the	DET
arjefm-77	147	6	political	political	ADJ
arjefm-77	147	7	risk	risk	NOUN
arjefm-77	147	8	,	,	PUNCT
arjefm-77	147	9	the	the	PRON
arjefm-77	147	10	lower	low	ADJ
arjefm-77	147	11	the	the	DET
arjefm-77	147	12	liquidity	liquidity	NOUN
arjefm-77	147	13	,	,	PUNCT
arjefm-77	147	14	given	give	VERB
arjefm-77	147	15	the	the	DET
arjefm-77	147	16	uncertainty	uncertainty	NOUN
arjefm-77	147	17	it	it	PRON
arjefm-77	147	18	generates	generate	VERB
arjefm-77	147	19	.	.	PUNCT
arjefm-77	148	1	however	however	ADV
arjefm-77	148	2	,	,	PUNCT
arjefm-77	148	3	it	it	PRON
arjefm-77	148	4	appears	appear	VERB
arjefm-77	148	5	that	that	SCONJ
arjefm-77	148	6	only	only	ADV
arjefm-77	148	7	well	well	ADV
arjefm-77	148	8	-	-	PUNCT
arjefm-77	148	9	capitalized	capitalize	VERB
arjefm-77	148	10	banks	bank	NOUN
arjefm-77	148	11	can	can	AUX
arjefm-77	148	12	increase	increase	VERB
arjefm-77	148	13	their	their	PRON
arjefm-77	148	14	liquidity	liquidity	NOUN
arjefm-77	148	15	in	in	ADP
arjefm-77	148	16	such	such	DET
arjefm-77	148	17	an	an	DET
arjefm-77	148	18	environment	environment	NOUN
arjefm-77	148	19	.	.	PUNCT
arjefm-77	149	1	over	over	ADP
arjefm-77	149	2	the	the	DET
arjefm-77	149	3	period	period	NOUN
arjefm-77	149	4	2003	2003	NUM
arjefm-77	149	5	to	to	ADP
arjefm-77	149	6	2014	2014	NUM
arjefm-77	149	7	,	,	PUNCT
arjefm-77	149	8	umar	umar	PROPN
arjefm-77	149	9	et	et	PROPN
arjefm-77	149	10	al	al	PROPN
arjefm-77	149	11	(	(	PUNCT
arjefm-77	149	12	2018	2018	NUM
arjefm-77	149	13	)	)	PUNCT
arjefm-77	149	14	show	show	VERB
arjefm-77	149	15	that	that	SCONJ
arjefm-77	149	16	the	the	DET
arjefm-77	149	17	increase	increase	NOUN
arjefm-77	149	18	in	in	ADP
arjefm-77	149	19	bank	bank	NOUN
arjefm-77	149	20	capital	capital	NOUN
arjefm-77	149	21	increases	increase	VERB
arjefm-77	149	22	liquidity	liquidity	NOUN
arjefm-77	149	23	risk	risk	NOUN
arjefm-77	149	24	in	in	ADP
arjefm-77	149	25	the	the	DET
arjefm-77	149	26	brics	bric	NOUN
arjefm-77	149	27	,	,	PUNCT
arjefm-77	149	28	thus	thus	ADV
arjefm-77	149	29	confirming	confirm	VERB
arjefm-77	149	30	the	the	DET
arjefm-77	149	31	financial	financial	ADJ
arjefm-77	149	32	fragility	fragility	NOUN
arjefm-77	149	33	hypothesis	hypothesis	NOUN
arjefm-77	149	34	.	.	PUNCT
arjefm-77	150	1	for	for	ADP
arjefm-77	150	2	their	their	PRON
arjefm-77	150	3	part	part	NOUN
arjefm-77	150	4	,	,	PUNCT
arjefm-77	150	5	the	the	DET
arjefm-77	150	6	work	work	NOUN
arjefm-77	150	7	of	of	ADP
arjefm-77	150	8	lei	lei	PROPN
arjefm-77	150	9	and	and	CCONJ
arjefm-77	150	10	song	song	NOUN
arjefm-77	150	11	(	(	PUNCT
arjefm-77	150	12	2013	2013	NUM
arjefm-77	150	13	)	)	PUNCT
arjefm-77	150	14	focuses	focus	VERB
arjefm-77	150	15	on	on	ADP
arjefm-77	150	16	a	a	DET
arjefm-77	150	17	panel	panel	NOUN
arjefm-77	150	18	of	of	ADP
arjefm-77	150	19	chinese	chinese	ADJ
arjefm-77	150	20	banks	bank	NOUN
arjefm-77	150	21	.	.	PUNCT
arjefm-77	151	1	the	the	DET
arjefm-77	151	2	study	study	NOUN
arjefm-77	151	3	concludes	conclude	VERB
arjefm-77	151	4	that	that	SCONJ
arjefm-77	151	5	bank	bank	NOUN
arjefm-77	151	6	capital	capital	NOUN
arjefm-77	151	7	increases	increase	VERB
arjefm-77	151	8	liquidity	liquidity	NOUN
arjefm-77	151	9	risk	risk	NOUN
arjefm-77	151	10	.	.	PUNCT
arjefm-77	152	1	in	in	ADP
arjefm-77	152	2	contrast	contrast	NOUN
arjefm-77	152	3	,	,	PUNCT
arjefm-77	152	4	this	this	DET
arjefm-77	152	5	relationship	relationship	NOUN
arjefm-77	152	6	seems	seem	VERB
arjefm-77	152	7	weaker	weak	ADJ
arjefm-77	152	8	for	for	ADP
arjefm-77	152	9	foreign	foreign	ADJ
arjefm-77	152	10	banks	bank	NOUN
arjefm-77	152	11	.	.	PUNCT
arjefm-77	153	1	building	build	VERB
arjefm-77	153	2	on	on	ADP
arjefm-77	153	3	this	this	DET
arjefm-77	153	4	work	work	NOUN
arjefm-77	153	5	,	,	PUNCT
arjefm-77	153	6	chen	chen	PROPN
arjefm-77	153	7	et	et	PROPN
arjefm-77	153	8	al	al	PROPN
arjefm-77	153	9	(	(	PUNCT
arjefm-77	153	10	2021	2021	NUM
arjefm-77	153	11	)	)	PUNCT
arjefm-77	153	12	consider	consider	VERB
arjefm-77	153	13	the	the	DET
arjefm-77	153	14	role	role	NOUN
arjefm-77	153	15	of	of	ADP
arjefm-77	153	16	shadow	shadow	NOUN
arjefm-77	153	17	banking	banking	NOUN
arjefm-77	153	18	activities	activity	NOUN
arjefm-77	153	19	in	in	ADP
arjefm-77	153	20	the	the	DET
arjefm-77	153	21	relationship	relationship	NOUN
arjefm-77	153	22	between	between	ADP
arjefm-77	153	23	bank	bank	NOUN
arjefm-77	153	24	capital	capital	NOUN
arjefm-77	153	25	and	and	CCONJ
arjefm-77	153	26	liquidity	liquidity	NOUN
arjefm-77	153	27	creation	creation	NOUN
arjefm-77	153	28	.	.	PUNCT
arjefm-77	154	1	first	first	ADV
arjefm-77	154	2	,	,	PUNCT
arjefm-77	154	3	they	they	PRON
arjefm-77	154	4	note	note	VERB
arjefm-77	154	5	that	that	SCONJ
arjefm-77	154	6	banks	bank	NOUN
arjefm-77	154	7	with	with	ADP
arjefm-77	154	8	less	less	ADJ
arjefm-77	154	9	capital	capital	NOUN
arjefm-77	154	10	create	create	VERB
arjefm-77	154	11	a	a	DET
arjefm-77	154	12	lot	lot	NOUN
arjefm-77	154	13	of	of	ADP
arjefm-77	154	14	liquidity	liquidity	NOUN
arjefm-77	154	15	,	,	PUNCT
arjefm-77	154	16	which	which	PRON
arjefm-77	154	17	confirms	confirm	VERB
arjefm-77	154	18	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	154	19	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	154	20	american	american	PROPN
arjefm-77	154	21	research	research	PROPN
arjefm-77	154	22	journal	journal	PROPN
arjefm-77	154	23	of	of	ADP
arjefm-77	154	24	economics	economic	NOUN
arjefm-77	154	25	,	,	PUNCT
arjefm-77	154	26	finance	finance	NOUN
arjefm-77	154	27	and	and	CCONJ
arjefm-77	154	28	management	management	NOUN
arjefm-77	154	29	volume	volume	NOUN
arjefm-77	154	30	11	11	NUM
arjefm-77	154	31	issue	issue	NOUN
arjefm-77	154	32	1	1	NUM
arjefm-77	154	33	,	,	PUNCT
arjefm-77	154	34	january	january	PROPN
arjefm-77	154	35	-	-	PUNCT
arjefm-77	154	36	march	march	PROPN
arjefm-77	154	37	2023	2023	NUM
arjefm-77	154	38	issn	issn	NOUN
arjefm-77	154	39	:	:	PUNCT
arjefm-77	154	40	2836	2836	NUM
arjefm-77	154	41	-	-	SYM
arjefm-77	154	42	9416	9416	NUM
arjefm-77	154	43	impact	impact	NOUN
arjefm-77	154	44	factor	factor	NOUN
arjefm-77	154	45	:	:	PUNCT
arjefm-77	154	46	5.57	5.57	NUM
arjefm-77	154	47	journal	journal	NOUN
arjefm-77	154	48	homepage	homepage	NOUN
arjefm-77	154	49	:	:	PUNCT
arjefm-77	154	50	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	154	51	,	,	PUNCT
arjefm-77	154	52	email	email	NOUN
arjefm-77	154	53	:	:	PUNCT
arjefm-77	154	54	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	154	55	official	official	ADJ
arjefm-77	154	56	journal	journal	PROPN
arjefm-77	154	57	of	of	ADP
arjefm-77	154	58	america	america	PROPN
arjefm-77	154	59	serial	serial	PROPN
arjefm-77	154	60	publication	publication	NOUN
arjefm-77	154	61	american	american	PROPN
arjefm-77	154	62	research	research	PROPN
arjefm-77	154	63	journal	journal	PROPN
arjefm-77	154	64	of	of	ADP
arjefm-77	154	65	economics	economic	NOUN
arjefm-77	154	66	,	,	PUNCT
arjefm-77	154	67	finance	finance	NOUN
arjefm-77	154	68	and	and	CCONJ
arjefm-77	154	69	management	management	NOUN
arjefm-77	154	70	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	154	71	,	,	PUNCT
arjefm-77	154	72	email	email	NOUN
arjefm-77	154	73	:	:	PUNCT
arjefm-77	155	1	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	155	2	37	37	NUM
arjefm-77	156	1	|	|	ADV
arjefm-77	156	2	p	p	NOUN
arjefm-77	156	3	a	a	DET
arjefm-77	156	4	g	g	NOUN
arjefm-77	156	5	e	e	NOUN
arjefm-77	156	6	the	the	DET
arjefm-77	156	7	risk	risk	NOUN
arjefm-77	156	8	-	-	PUNCT
arjefm-77	156	9	taking	take	VERB
arjefm-77	156	10	hypothesis	hypothesis	NOUN
arjefm-77	156	11	.	.	PUNCT
arjefm-77	157	1	in	in	ADP
arjefm-77	157	2	contrast	contrast	NOUN
arjefm-77	157	3	,	,	PUNCT
arjefm-77	157	4	regulatory	regulatory	ADJ
arjefm-77	157	5	capital	capital	NOUN
arjefm-77	157	6	improves	improve	VERB
arjefm-77	157	7	bank	bank	NOUN
arjefm-77	157	8	liquidity	liquidity	NOUN
arjefm-77	157	9	when	when	SCONJ
arjefm-77	157	10	shadow	shadow	NOUN
arjefm-77	157	11	banking	banking	NOUN
arjefm-77	157	12	is	be	AUX
arjefm-77	157	13	taken	take	VERB
arjefm-77	157	14	into	into	ADP
arjefm-77	157	15	account	account	NOUN
arjefm-77	157	16	.	.	PUNCT
arjefm-77	158	1	some	some	DET
arjefm-77	158	2	authors	author	NOUN
arjefm-77	158	3	have	have	AUX
arjefm-77	158	4	focused	focus	VERB
arjefm-77	158	5	on	on	ADP
arjefm-77	158	6	how	how	SCONJ
arjefm-77	158	7	prudential	prudential	ADJ
arjefm-77	158	8	regulation	regulation	NOUN
arjefm-77	158	9	interacts	interact	VERB
arjefm-77	158	10	with	with	ADP
arjefm-77	158	11	the	the	DET
arjefm-77	158	12	securitization	securitization	NOUN
arjefm-77	158	13	process	process	NOUN
arjefm-77	158	14	.	.	PUNCT
arjefm-77	159	1	in	in	ADP
arjefm-77	159	2	this	this	DET
arjefm-77	159	3	vein	vein	NOUN
arjefm-77	159	4	,	,	PUNCT
arjefm-77	159	5	keys	key	VERB
arjefm-77	159	6	et	et	PROPN
arjefm-77	159	7	al	al	PROPN
arjefm-77	159	8	(	(	PUNCT
arjefm-77	159	9	2009	2009	NUM
arjefm-77	159	10	)	)	PUNCT
arjefm-77	159	11	examined	examine	VERB
arjefm-77	159	12	the	the	DET
arjefm-77	159	13	effect	effect	NOUN
arjefm-77	159	14	of	of	ADP
arjefm-77	159	15	different	different	ADJ
arjefm-77	159	16	regulations	regulation	NOUN
arjefm-77	159	17	on	on	ADP
arjefm-77	159	18	the	the	DET
arjefm-77	159	19	moral	moral	ADJ
arjefm-77	159	20	hazard	hazard	NOUN
arjefm-77	159	21	problem	problem	NOUN
arjefm-77	159	22	associated	associate	VERB
arjefm-77	159	23	with	with	ADP
arjefm-77	159	24	securitization	securitization	NOUN
arjefm-77	159	25	.	.	PUNCT
arjefm-77	160	1	the	the	DET
arjefm-77	160	2	results	result	NOUN
arjefm-77	160	3	reveal	reveal	VERB
arjefm-77	160	4	that	that	SCONJ
arjefm-77	160	5	loan	loan	NOUN
arjefm-77	160	6	quality	quality	NOUN
arjefm-77	160	7	is	be	AUX
arjefm-77	160	8	inversely	inversely	ADV
arjefm-77	160	9	related	relate	VERB
arjefm-77	160	10	to	to	ADP
arjefm-77	160	11	the	the	DET
arjefm-77	160	12	amount	amount	NOUN
arjefm-77	160	13	of	of	ADP
arjefm-77	160	14	regulation	regulation	NOUN
arjefm-77	160	15	.	.	PUNCT
arjefm-77	161	1	thus	thus	ADV
arjefm-77	161	2	,	,	PUNCT
arjefm-77	161	3	the	the	DET
arjefm-77	161	4	more	more	ADV
arjefm-77	161	5	regulated	regulated	ADJ
arjefm-77	161	6	the	the	DET
arjefm-77	161	7	lenders	lender	NOUN
arjefm-77	161	8	behind	behind	ADP
arjefm-77	161	9	the	the	DET
arjefm-77	161	10	securitization	securitization	NOUN
arjefm-77	161	11	,	,	PUNCT
arjefm-77	161	12	the	the	PRON
arjefm-77	161	13	worse	bad	ADJ
arjefm-77	161	14	the	the	DET
arjefm-77	161	15	loan	loan	NOUN
arjefm-77	161	16	quality	quality	NOUN
arjefm-77	161	17	.	.	PUNCT
arjefm-77	162	1	fève	fève	PROPN
arjefm-77	162	2	et	et	PROPN
arjefm-77	162	3	al	al	PROPN
arjefm-77	162	4	.	.	PROPN
arjefm-77	163	1	(	(	PUNCT
arjefm-77	163	2	2019	2019	NUM
arjefm-77	163	3	)	)	PUNCT
arjefm-77	163	4	implement	implement	VERB
arjefm-77	163	5	a	a	DET
arjefm-77	163	6	smallscale	smallscale	ADJ
arjefm-77	163	7	dsge	dsge	NOUN
arjefm-77	163	8	model	model	NOUN
arjefm-77	163	9	for	for	ADP
arjefm-77	163	10	the	the	DET
arjefm-77	163	11	us	us	PROPN
arjefm-77	163	12	economy	economy	NOUN
arjefm-77	163	13	in	in	ADP
arjefm-77	163	14	which	which	PRON
arjefm-77	163	15	traditional	traditional	ADJ
arjefm-77	163	16	banks	bank	NOUN
arjefm-77	163	17	interact	interact	VERB
arjefm-77	163	18	with	with	ADP
arjefm-77	163	19	shadow	shadow	NOUN
arjefm-77	163	20	banking	banking	NOUN
arjefm-77	163	21	.	.	PUNCT
arjefm-77	164	1	they	they	PRON
arjefm-77	164	2	find	find	VERB
arjefm-77	164	3	that	that	SCONJ
arjefm-77	164	4	shadow	shadow	NOUN
arjefm-77	164	5	banking	banking	NOUN
arjefm-77	164	6	activities	activity	NOUN
arjefm-77	164	7	amplify	amplify	VERB
arjefm-77	164	8	the	the	DET
arjefm-77	164	9	transmission	transmission	NOUN
arjefm-77	164	10	of	of	ADP
arjefm-77	164	11	shocks	shock	NOUN
arjefm-77	164	12	and	and	CCONJ
arjefm-77	164	13	mostly	mostly	ADV
arjefm-77	164	14	help	help	VERB
arjefm-77	164	15	banks	bank	NOUN
arjefm-77	164	16	escape	escape	VERB
arjefm-77	164	17	regulatory	regulatory	ADJ
arjefm-77	164	18	constraints	constraint	NOUN
arjefm-77	164	19	.	.	PUNCT
arjefm-77	165	1	furthermore	furthermore	ADV
arjefm-77	165	2	,	,	PUNCT
arjefm-77	165	3	they	they	PRON
arjefm-77	165	4	observe	observe	VERB
arjefm-77	165	5	that	that	SCONJ
arjefm-77	165	6	the	the	DET
arjefm-77	165	7	rush	rush	NOUN
arjefm-77	165	8	of	of	ADP
arjefm-77	165	9	banks	bank	NOUN
arjefm-77	165	10	into	into	ADP
arjefm-77	165	11	shadow	shadow	NOUN
arjefm-77	165	12	banking	banking	NOUN
arjefm-77	165	13	activities	activity	NOUN
arjefm-77	165	14	reduces	reduce	VERB
arjefm-77	165	15	the	the	DET
arjefm-77	165	16	ability	ability	NOUN
arjefm-77	165	17	of	of	ADP
arjefm-77	165	18	macroprudential	macroprudential	ADJ
arjefm-77	165	19	policies	policy	NOUN
arjefm-77	165	20	targeting	target	VERB
arjefm-77	165	21	traditional	traditional	ADJ
arjefm-77	165	22	credit	credit	NOUN
arjefm-77	165	23	to	to	PART
arjefm-77	165	24	reduce	reduce	VERB
arjefm-77	165	25	economic	economic	ADJ
arjefm-77	165	26	volatility	volatility	NOUN
arjefm-77	165	27	.	.	PUNCT
arjefm-77	166	1	using	use	VERB
arjefm-77	166	2	syndicated	syndicate	VERB
arjefm-77	166	3	credit	credit	NOUN
arjefm-77	166	4	data	datum	NOUN
arjefm-77	166	5	,	,	PUNCT
arjefm-77	166	6	irani	irani	PROPN
arjefm-77	166	7	et	et	PROPN
arjefm-77	166	8	al	al	PROPN
arjefm-77	166	9	.	.	PROPN
arjefm-77	167	1	(	(	PUNCT
arjefm-77	167	2	2021	2021	NUM
arjefm-77	167	3	)	)	PUNCT
arjefm-77	167	4	find	find	VERB
arjefm-77	167	5	that	that	SCONJ
arjefm-77	167	6	capital	capital	NOUN
arjefm-77	167	7	requirements	requirement	NOUN
arjefm-77	167	8	in	in	ADP
arjefm-77	167	9	the	the	DET
arjefm-77	167	10	banking	banking	NOUN
arjefm-77	167	11	sector	sector	NOUN
arjefm-77	167	12	have	have	AUX
arjefm-77	167	13	favored	favor	VERB
arjefm-77	167	14	the	the	DET
arjefm-77	167	15	emergence	emergence	NOUN
arjefm-77	167	16	of	of	ADP
arjefm-77	167	17	shadow	shadow	NOUN
arjefm-77	167	18	banking	banking	NOUN
arjefm-77	167	19	.	.	PUNCT
arjefm-77	168	1	in	in	ADP
arjefm-77	168	2	particular	particular	ADJ
arjefm-77	168	3	,	,	PUNCT
arjefm-77	168	4	they	they	PRON
arjefm-77	168	5	note	note	VERB
arjefm-77	168	6	that	that	SCONJ
arjefm-77	168	7	weakly	weakly	ADJ
arjefm-77	168	8	capitalized	capitalize	VERB
arjefm-77	168	9	banks	bank	NOUN
arjefm-77	168	10	are	be	AUX
arjefm-77	168	11	reducing	reduce	VERB
arjefm-77	168	12	their	their	PRON
arjefm-77	168	13	exposure	exposure	NOUN
arjefm-77	168	14	through	through	ADP
arjefm-77	168	15	asset	asset	NOUN
arjefm-77	168	16	sales	sale	NOUN
arjefm-77	168	17	while	while	SCONJ
arjefm-77	168	18	shadow	shadow	NOUN
arjefm-77	168	19	banking	banking	NOUN
arjefm-77	168	20	is	be	AUX
arjefm-77	168	21	taking	take	VERB
arjefm-77	168	22	over	over	ADP
arjefm-77	168	23	the	the	DET
arjefm-77	168	24	credit	credit	NOUN
arjefm-77	168	25	market	market	NOUN
arjefm-77	168	26	.	.	PUNCT
arjefm-77	169	1	according	accord	VERB
arjefm-77	169	2	to	to	ADP
arjefm-77	169	3	the	the	DET
arjefm-77	169	4	authors	author	NOUN
arjefm-77	169	5	,	,	PUNCT
arjefm-77	169	6	this	this	DET
arjefm-77	169	7	situation	situation	NOUN
arjefm-77	169	8	led	lead	VERB
arjefm-77	169	9	to	to	ADP
arjefm-77	169	10	a	a	DET
arjefm-77	169	11	relative	relative	ADJ
arjefm-77	169	12	decline	decline	NOUN
arjefm-77	169	13	in	in	ADP
arjefm-77	169	14	credit	credit	NOUN
arjefm-77	169	15	and	and	CCONJ
arjefm-77	169	16	the	the	DET
arjefm-77	169	17	volatility	volatility	NOUN
arjefm-77	169	18	that	that	PRON
arjefm-77	169	19	occurred	occur	VERB
arjefm-77	169	20	during	during	ADP
arjefm-77	169	21	the	the	DET
arjefm-77	169	22	2008	2008	NUM
arjefm-77	169	23	financial	financial	ADJ
arjefm-77	169	24	crisis	crisis	NOUN
arjefm-77	169	25	.	.	PUNCT
arjefm-77	170	1	also	also	ADV
arjefm-77	170	2	in	in	ADP
arjefm-77	170	3	south	south	PROPN
arjefm-77	170	4	korea	korea	PROPN
arjefm-77	170	5	,	,	PUNCT
arjefm-77	170	6	lee	lee	PROPN
arjefm-77	170	7	et	et	PROPN
arjefm-77	170	8	al	al	PROPN
arjefm-77	170	9	(	(	PUNCT
arjefm-77	170	10	2022	2022	NUM
arjefm-77	170	11	)	)	PUNCT
arjefm-77	170	12	find	find	VERB
arjefm-77	170	13	that	that	SCONJ
arjefm-77	170	14	regulatory	regulatory	ADJ
arjefm-77	170	15	capital	capital	NOUN
arjefm-77	170	16	requirements	requirement	NOUN
arjefm-77	170	17	led	lead	VERB
arjefm-77	170	18	to	to	ADP
arjefm-77	170	19	a	a	DET
arjefm-77	170	20	decline	decline	NOUN
arjefm-77	170	21	in	in	ADP
arjefm-77	170	22	credit	credit	NOUN
arjefm-77	170	23	among	among	ADP
arjefm-77	170	24	regulated	regulated	ADJ
arjefm-77	170	25	banks	bank	NOUN
arjefm-77	170	26	and	and	CCONJ
arjefm-77	170	27	an	an	DET
arjefm-77	170	28	increase	increase	NOUN
arjefm-77	170	29	of	of	ADP
arjefm-77	170	30	about	about	ADV
arjefm-77	170	31	three	three	NUM
arjefm-77	170	32	quarters	quarter	NOUN
arjefm-77	170	33	in	in	ADP
arjefm-77	170	34	lending	lending	NOUN
arjefm-77	170	35	by	by	ADP
arjefm-77	170	36	shadow	shadow	NOUN
arjefm-77	170	37	banking	banking	NOUN
arjefm-77	170	38	lenders	lender	NOUN
arjefm-77	170	39	.	.	PUNCT
arjefm-77	171	1	finally	finally	ADV
arjefm-77	171	2	,	,	PUNCT
arjefm-77	171	3	harutyunyan	harutyunyan	PROPN
arjefm-77	171	4	et	et	PROPN
arjefm-77	171	5	al	al	PROPN
arjefm-77	171	6	(	(	PUNCT
arjefm-77	171	7	2015	2015	NUM
arjefm-77	171	8	)	)	PUNCT
arjefm-77	171	9	find	find	VERB
arjefm-77	171	10	that	that	SCONJ
arjefm-77	171	11	shadow	shadow	NOUN
arjefm-77	171	12	banking	banking	NOUN
arjefm-77	171	13	increases	increase	VERB
arjefm-77	171	14	procyclicality	procyclicality	NOUN
arjefm-77	171	15	and	and	CCONJ
arjefm-77	171	16	volatility	volatility	NOUN
arjefm-77	171	17	more	more	ADJ
arjefm-77	171	18	than	than	ADP
arjefm-77	171	19	traditional	traditional	ADJ
arjefm-77	171	20	bank	bank	NOUN
arjefm-77	171	21	activities	activity	NOUN
arjefm-77	171	22	.	.	PUNCT
arjefm-77	172	1	the	the	DET
arjefm-77	172	2	study	study	NOUN
arjefm-77	172	3	of	of	ADP
arjefm-77	172	4	26	26	NUM
arjefm-77	172	5	jurisdictions	jurisdiction	NOUN
arjefm-77	172	6	thus	thus	ADV
arjefm-77	172	7	confirms	confirm	VERB
arjefm-77	172	8	the	the	DET
arjefm-77	172	9	perverse	perverse	ADJ
arjefm-77	172	10	effects	effect	NOUN
arjefm-77	172	11	of	of	ADP
arjefm-77	172	12	disintermediated	disintermediate	VERB
arjefm-77	172	13	finance	finance	NOUN
arjefm-77	172	14	activities	activity	NOUN
arjefm-77	172	15	on	on	ADP
arjefm-77	172	16	the	the	DET
arjefm-77	172	17	stability	stability	NOUN
arjefm-77	172	18	of	of	ADP
arjefm-77	172	19	the	the	DET
arjefm-77	172	20	banking	banking	NOUN
arjefm-77	172	21	system	system	NOUN
arjefm-77	172	22	.	.	PUNCT
arjefm-77	173	1	3	3	X
arjefm-77	173	2	.	.	X
arjefm-77	173	3	the	the	DET
arjefm-77	173	4	methodological	methodological	ADJ
arjefm-77	173	5	framework	framework	NOUN
arjefm-77	173	6	of	of	ADP
arjefm-77	173	7	the	the	DET
arjefm-77	173	8	study	study	NOUN
arjefm-77	173	9	this	this	DET
arjefm-77	173	10	section	section	NOUN
arjefm-77	173	11	includes	include	VERB
arjefm-77	173	12	two	two	NUM
arjefm-77	173	13	points	point	NOUN
arjefm-77	173	14	,	,	PUNCT
arjefm-77	173	15	through	through	ADP
arjefm-77	173	16	which	which	PRON
arjefm-77	173	17	,	,	PUNCT
arjefm-77	173	18	respectively	respectively	ADV
arjefm-77	173	19	,	,	PUNCT
arjefm-77	173	20	the	the	DET
arjefm-77	173	21	specification	specification	NOUN
arjefm-77	173	22	of	of	ADP
arjefm-77	173	23	the	the	DET
arjefm-77	173	24	pstr	pstr	NOUN
arjefm-77	173	25	model	model	NOUN
arjefm-77	173	26	and	and	CCONJ
arjefm-77	173	27	the	the	DET
arjefm-77	173	28	estimation	estimation	NOUN
arjefm-77	173	29	procedure	procedure	NOUN
arjefm-77	173	30	will	will	AUX
arjefm-77	173	31	be	be	AUX
arjefm-77	173	32	presented	present	VERB
arjefm-77	173	33	.	.	PUNCT
arjefm-77	174	1	3.1	3.1	NUM
arjefm-77	174	2	.	.	PUNCT
arjefm-77	174	3	specification	specification	PROPN
arjefm-77	174	4	du	du	PROPN
arjefm-77	174	5	modèle	modèle	PROPN
arjefm-77	174	6	the	the	DET
arjefm-77	174	7	choice	choice	NOUN
arjefm-77	174	8	of	of	ADP
arjefm-77	174	9	the	the	DET
arjefm-77	174	10	estimation	estimation	NOUN
arjefm-77	174	11	method	method	NOUN
arjefm-77	174	12	is	be	AUX
arjefm-77	174	13	an	an	DET
arjefm-77	174	14	important	important	ADJ
arjefm-77	174	15	factor	factor	NOUN
arjefm-77	174	16	that	that	PRON
arjefm-77	174	17	must	must	AUX
arjefm-77	174	18	take	take	VERB
arjefm-77	174	19	into	into	ADP
arjefm-77	174	20	account	account	NOUN
arjefm-77	174	21	the	the	DET
arjefm-77	174	22	nature	nature	NOUN
arjefm-77	174	23	of	of	ADP
arjefm-77	174	24	the	the	DET
arjefm-77	174	25	data	datum	NOUN
arjefm-77	174	26	as	as	ADV
arjefm-77	174	27	well	well	ADV
arjefm-77	174	28	as	as	ADP
arjefm-77	174	29	the	the	DET
arjefm-77	174	30	objectives	objective	NOUN
arjefm-77	174	31	to	to	PART
arjefm-77	174	32	be	be	AUX
arjefm-77	174	33	achieved	achieve	VERB
arjefm-77	174	34	.	.	PUNCT
arjefm-77	175	1	in	in	ADP
arjefm-77	175	2	this	this	DET
arjefm-77	175	3	study	study	NOUN
arjefm-77	175	4	,	,	PUNCT
arjefm-77	175	5	since	since	SCONJ
arjefm-77	175	6	we	we	PRON
arjefm-77	175	7	are	be	AUX
arjefm-77	175	8	interested	interested	ADJ
arjefm-77	175	9	like	like	ADP
arjefm-77	175	10	the	the	DET
arjefm-77	175	11	relationship	relationship	NOUN
arjefm-77	175	12	(	(	PUNCT
arjefm-77	175	13	linear	linear	PROPN
arjefm-77	175	14	vs.	vs.	X
arjefm-77	175	15	nonlinear	nonlinear	NOUN
arjefm-77	175	16	)	)	PUNCT
arjefm-77	175	17	between	between	ADP
arjefm-77	175	18	regulatory	regulatory	ADJ
arjefm-77	175	19	capital	capital	NOUN
arjefm-77	175	20	and	and	CCONJ
arjefm-77	175	21	liquidity	liquidity	NOUN
arjefm-77	175	22	risk	risk	NOUN
arjefm-77	175	23	,	,	PUNCT
arjefm-77	175	24	we	we	PRON
arjefm-77	175	25	opt	opt	VERB
arjefm-77	175	26	for	for	ADP
arjefm-77	175	27	the	the	DET
arjefm-77	175	28	smooth	smooth	ADJ
arjefm-77	175	29	transition	transition	NOUN
arjefm-77	175	30	panel	panel	NOUN
arjefm-77	175	31	method	method	NOUN
arjefm-77	175	32	(	(	PUNCT
arjefm-77	175	33	pstr	pstr	NOUN
arjefm-77	175	34	)	)	PUNCT
arjefm-77	175	35	developed	develop	VERB
arjefm-77	175	36	by	by	ADP
arjefm-77	175	37	gonzalez	gonzalez	PROPN
arjefm-77	175	38	et	et	PROPN
arjefm-77	175	39	al	al	PROPN
arjefm-77	175	40	.	.	PUNCT
arjefm-77	176	1	the	the	DET
arjefm-77	176	2	pstr	pstr	NOUN
arjefm-77	176	3	model	model	NOUN
arjefm-77	176	4	is	be	AUX
arjefm-77	176	5	a	a	DET
arjefm-77	176	6	fixed	fixed	ADJ
arjefm-77	176	7	effect	effect	NOUN
arjefm-77	176	8	model	model	NOUN
arjefm-77	176	9	with	with	ADP
arjefm-77	176	10	an	an	DET
arjefm-77	176	11	exogenous	exogenous	ADJ
arjefm-77	176	12	regressor	regressor	NOUN
arjefm-77	176	13	.	.	PUNCT
arjefm-77	177	1	moreover	moreover	ADV
arjefm-77	177	2	,	,	PUNCT
arjefm-77	177	3	it	it	PRON
arjefm-77	177	4	is	be	AUX
arjefm-77	177	5	a	a	DET
arjefm-77	177	6	non	non	ADJ
arjefm-77	177	7	-	-	ADJ
arjefm-77	177	8	linear	linear	ADJ
arjefm-77	177	9	homogeneous	homogeneous	ADJ
arjefm-77	177	10	panel	panel	NOUN
arjefm-77	177	11	model	model	NOUN
arjefm-77	177	12	whose	whose	DET
arjefm-77	177	13	theoretical	theoretical	ADJ
arjefm-77	177	14	specification	specification	NOUN
arjefm-77	177	15	is	be	AUX
arjefm-77	177	16	as	as	SCONJ
arjefm-77	177	17	follows	follow	VERB
arjefm-77	177	18	:	:	PUNCT
arjefm-77	177	19	y	y	NOUN
arjefm-77	177	20	it	it	PRON
arjefm-77	177	21	i	i	PRON
arjefm-77	177	22	0	0	X
arjefm-77	177	23	'	'	PUNCT
arjefm-77	177	24	xit	xit	PROPN
arjefm-77	177	25	1	1	PROPN
arjefm-77	177	26	'	'	PART
arjefm-77	177	27	xit	xit	PROPN
arjefm-77	177	28	g	g	PROPN
arjefm-77	177	29	(	(	PUNCT
arjefm-77	177	30	q	q	PROPN
arjefm-77	177	31	it	it	PRON
arjefm-77	177	32	,	,	PUNCT
arjefm-77	177	33	,	,	PUNCT
arjefm-77	177	34	c	c	X
arjefm-77	177	35	)	)	PUNCT
arjefm-77	177	36	it	it	PRON
arjefm-77	177	37	(	(	PUNCT
arjefm-77	177	38	1	1	X
arjefm-77	177	39	)	)	PUNCT
arjefm-77	177	40	in	in	ADP
arjefm-77	177	41	this	this	DET
arjefm-77	177	42	equation	equation	NOUN
arjefm-77	177	43	,	,	PUNCT
arjefm-77	177	44	i	i	PRON
arjefm-77	177	45	=	=	NOUN
arjefm-77	177	46	1	1	NUM
arjefm-77	177	47	,	,	PUNCT
arjefm-77	177	48	…	…	PUNCT
arjefm-77	177	49	,	,	PUNCT
arjefm-77	177	50	n	n	CCONJ
arjefm-77	177	51	;	;	PUNCT
arjefm-77	177	52	and	and	CCONJ
arjefm-77	177	53	t	t	X
arjefm-77	177	54	=	=	SYM
arjefm-77	177	55	1	1	NUM
arjefm-77	177	56	,	,	PUNCT
arjefm-77	177	57	…	…	PUNCT
arjefm-77	177	58	…	…	PUNCT
arjefm-77	177	59	,	,	PUNCT
arjefm-77	177	60	t	t	NOUN
arjefm-77	177	61	with	with	ADP
arjefm-77	177	62	n	n	PROPN
arjefm-77	177	63	and	and	CCONJ
arjefm-77	177	64	t	t	PROPN
arjefm-77	177	65	representing	represent	VERB
arjefm-77	177	66	the	the	DET
arjefm-77	177	67	individual	individual	ADJ
arjefm-77	177	68	and	and	CCONJ
arjefm-77	177	69	time	time	NOUN
arjefm-77	177	70	dimensions	dimension	NOUN
arjefm-77	177	71	,	,	PUNCT
arjefm-77	177	72	respectively	respectively	ADV
arjefm-77	177	73	.	.	PUNCT
arjefm-77	178	1	is	be	AUX
arjefm-77	178	2	the	the	DET
arjefm-77	178	3	dependent	dependent	ADJ
arjefm-77	178	4	variable	variable	NOUN
arjefm-77	178	5	,	,	PUNCT
arjefm-77	178	6	is	be	AUX
arjefm-77	178	7	the	the	DET
arjefm-77	178	8	individual	individual	ADJ
arjefm-77	178	9	vector	vector	NOUN
arjefm-77	178	10	of	of	ADP
arjefm-77	178	11	fixed	fix	VERB
arjefm-77	178	12	effects	effect	NOUN
arjefm-77	178	13	,	,	PUNCT
arjefm-77	178	14	and	and	CCONJ
arjefm-77	178	15	et	et	NOUN
arjefm-77	178	16	is	be	AUX
arjefm-77	178	17	the	the	DET
arjefm-77	178	18	transition	transition	NOUN
arjefm-77	178	19	function	function	NOUN
arjefm-77	178	20	that	that	PRON
arjefm-77	178	21	depends	depend	VERB
arjefm-77	178	22	on	on	ADP
arjefm-77	178	23	the	the	DET
arjefm-77	178	24	transition	transition	NOUN
arjefm-77	178	25	variable	variable	NOUN
arjefm-77	178	26	,	,	PUNCT
arjefm-77	178	27	the	the	DET
arjefm-77	178	28	threshold	threshold	NOUN
arjefm-77	178	29	parameter	parameter	NOUN
arjefm-77	178	30	c	c	PROPN
arjefm-77	178	31	as	as	ADV
arjefm-77	178	32	well	well	ADV
arjefm-77	178	33	as	as	ADP
arjefm-77	178	34	the	the	DET
arjefm-77	178	35	smoothing	smoothing	NOUN
arjefm-77	178	36	parameter	parameter	NOUN
arjefm-77	178	37	.	.	PUNCT
arjefm-77	179	1	is	be	AUX
arjefm-77	179	2	the	the	DET
arjefm-77	179	3	vector	vector	NOUN
arjefm-77	179	4	kk	kk	PROPN
arjefm-77	179	5	of	of	ADP
arjefm-77	179	6	explanatory	explanatory	ADJ
arjefm-77	179	7	variables	variable	NOUN
arjefm-77	179	8	and	and	CCONJ
arjefm-77	179	9	is	be	AUX
arjefm-77	179	10	the	the	DET
arjefm-77	179	11	error	error	NOUN
arjefm-77	179	12	term	term	NOUN
arjefm-77	179	13	.	.	PUNCT
arjefm-77	180	1	and	and	CCONJ
arjefm-77	180	2	denote	denote	VERB
arjefm-77	180	3	the	the	DET
arjefm-77	180	4	vector	vector	NOUN
arjefm-77	180	5	of	of	ADP
arjefm-77	180	6	linear	linear	PROPN
arjefm-77	180	7	and	and	CCONJ
arjefm-77	180	8	nonlinear	nonlinear	ADJ
arjefm-77	180	9	model	model	NOUN
arjefm-77	180	10	parameters	parameter	NOUN
arjefm-77	180	11	.	.	PUNCT
arjefm-77	181	1	the	the	DET
arjefm-77	181	2	transition	transition	NOUN
arjefm-77	181	3	function	function	NOUN
arjefm-77	181	4	allows	allow	VERB
arjefm-77	181	5	the	the	DET
arjefm-77	181	6	system	system	NOUN
arjefm-77	181	7	to	to	PART
arjefm-77	181	8	gradually	gradually	ADV
arjefm-77	181	9	transition	transition	VERB
arjefm-77	181	10	from	from	ADP
arjefm-77	181	11	one	one	NUM
arjefm-77	181	12	regime	regime	NOUN
arjefm-77	181	13	to	to	ADP
arjefm-77	181	14	the	the	DET
arjefm-77	181	15	other	other	ADJ
arjefm-77	181	16	.	.	PUNCT
arjefm-77	182	1	to	to	PART
arjefm-77	182	2	better	well	ADV
arjefm-77	182	3	define	define	VERB
arjefm-77	182	4	this	this	DET
arjefm-77	182	5	transition	transition	NOUN
arjefm-77	182	6	function	function	NOUN
arjefm-77	182	7	gonzalez	gonzalez	PROPN
arjefm-77	182	8	et	et	PROPN
arjefm-77	182	9	al	al	PROPN
arjefm-77	182	10	(	(	PUNCT
arjefm-77	182	11	2005	2005	NUM
arjefm-77	182	12	)	)	PUNCT
arjefm-77	182	13	;	;	PUNCT
arjefm-77	182	14	granger	granger	PROPN
arjefm-77	182	15	and	and	CCONJ
arjefm-77	182	16	teräsvirta	teräsvirta	PROPN
arjefm-77	182	17	(	(	PUNCT
arjefm-77	182	18	1993	1993	NUM
arjefm-77	182	19	)	)	PUNCT
arjefm-77	182	20	;	;	PUNCT
arjefm-77	182	21	teräsvirta	teräsvirta	NOUN
arjefm-77	182	22	(	(	PUNCT
arjefm-77	182	23	1994	1994	NUM
arjefm-77	182	24	)	)	PUNCT
arjefm-77	182	25	;	;	PUNCT
arjefm-77	182	26	jansen	jansen	PROPN
arjefm-77	182	27	and	and	CCONJ
arjefm-77	182	28	teräsvirta	teräsvirta	PROPN
arjefm-77	182	29	(	(	PUNCT
arjefm-77	182	30	1996	1996	NUM
arjefm-77	182	31	)	)	PUNCT
arjefm-77	182	32	propose	propose	VERB
arjefm-77	182	33	an	an	DET
arjefm-77	182	34	m	m	NOUN
arjefm-77	182	35	-	-	PUNCT
arjefm-77	182	36	order	order	NOUN
arjefm-77	182	37	logistic	logistic	ADJ
arjefm-77	182	38	function	function	NOUN
arjefm-77	182	39	as	as	SCONJ
arjefm-77	182	40	follows	follow	VERB
arjefm-77	182	41	:	:	PUNCT
arjefm-77	182	42	1	1	NUM
arjefm-77	182	43	mailto:contact@americaserial.com	mailto:contact@americaserial.com	NOUN
arjefm-77	182	44	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	182	45	american	american	PROPN
arjefm-77	182	46	research	research	PROPN
arjefm-77	182	47	journal	journal	PROPN
arjefm-77	182	48	of	of	ADP
arjefm-77	182	49	economics	economic	NOUN
arjefm-77	182	50	,	,	PUNCT
arjefm-77	182	51	finance	finance	NOUN
arjefm-77	182	52	and	and	CCONJ
arjefm-77	182	53	management	management	NOUN
arjefm-77	182	54	volume	volume	NOUN
arjefm-77	182	55	11	11	NUM
arjefm-77	182	56	issue	issue	NOUN
arjefm-77	182	57	1	1	NUM
arjefm-77	182	58	,	,	PUNCT
arjefm-77	182	59	january	january	PROPN
arjefm-77	182	60	-	-	PUNCT
arjefm-77	182	61	march	march	PROPN
arjefm-77	182	62	2023	2023	NUM
arjefm-77	182	63	issn	issn	NOUN
arjefm-77	182	64	:	:	PUNCT
arjefm-77	182	65	2836	2836	NUM
arjefm-77	182	66	-	-	SYM
arjefm-77	182	67	9416	9416	NUM
arjefm-77	182	68	impact	impact	NOUN
arjefm-77	182	69	factor	factor	NOUN
arjefm-77	182	70	:	:	PUNCT
arjefm-77	182	71	5.57	5.57	NUM
arjefm-77	182	72	journal	journal	NOUN
arjefm-77	182	73	homepage	homepage	NOUN
arjefm-77	182	74	:	:	PUNCT
arjefm-77	182	75	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	182	76	,	,	PUNCT
arjefm-77	182	77	email	email	NOUN
arjefm-77	182	78	:	:	PUNCT
arjefm-77	182	79	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	182	80	official	official	ADJ
arjefm-77	182	81	journal	journal	PROPN
arjefm-77	182	82	of	of	ADP
arjefm-77	182	83	america	america	PROPN
arjefm-77	182	84	serial	serial	PROPN
arjefm-77	182	85	publication	publication	NOUN
arjefm-77	182	86	american	american	PROPN
arjefm-77	182	87	research	research	PROPN
arjefm-77	182	88	journal	journal	PROPN
arjefm-77	182	89	of	of	ADP
arjefm-77	182	90	economics	economic	NOUN
arjefm-77	182	91	,	,	PUNCT
arjefm-77	182	92	finance	finance	NOUN
arjefm-77	182	93	and	and	CCONJ
arjefm-77	182	94	management	management	NOUN
arjefm-77	182	95	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	182	96	,	,	PUNCT
arjefm-77	182	97	email	email	NOUN
arjefm-77	182	98	:	:	PUNCT
arjefm-77	183	1	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	183	2	38	38	NUM
arjefm-77	184	1	|	|	ADV
arjefm-77	184	2	p	p	NOUN
arjefm-77	184	3	a	a	DET
arjefm-77	184	4	g	g	NOUN
arjefm-77	184	5	e	e	NOUN
arjefm-77	184	6	m	m	NOUN
arjefm-77	184	7	g	g	NOUN
arjefm-77	184	8	(	(	PUNCT
arjefm-77	184	9	q	q	PROPN
arjefm-77	184	10	it	it	PRON
arjefm-77	184	11	,	,	PUNCT
arjefm-77	184	12	,	,	PUNCT
arjefm-77	184	13	c	c	NOUN
arjefm-77	184	14	)	)	PUNCT
arjefm-77	184	15	1	1	NUM
arjefm-77	184	16	exp	exp	NOUN
arjefm-77	184	17	(	(	PUNCT
arjefm-77	184	18	(	(	PUNCT
arjefm-77	184	19	q	q	SYM
arjefm-77	184	20	it	it	PRON
arjefm-77	184	21	c	c	PROPN
arjefm-77	184	22	j	j	NOUN
arjefm-77	184	23	)	)	PUNCT
arjefm-77	184	24	(	(	PUNCT
arjefm-77	184	25	2	2	X
arjefm-77	184	26	)	)	PUNCT
arjefm-77	184	27	j	j	NOUN
arjefm-77	184	28	1	1	NUM
arjefm-77	184	29	where	where	SCONJ
arjefm-77	184	30	;	;	PUNCT
arjefm-77	184	31	and	and	CCONJ
arjefm-77	184	32	is	be	AUX
arjefm-77	184	33	the	the	DET
arjefm-77	184	34	vector	vector	NOUN
arjefm-77	184	35	of	of	ADP
arjefm-77	184	36	the	the	DET
arjefm-77	184	37	parameter	parameter	NOUN
arjefm-77	184	38	in	in	ADP
arjefm-77	184	39	level	level	NOUN
arjefm-77	184	40	.	.	PUNCT
arjefm-77	185	1	γ	γ	NOUN
arjefm-77	185	2	represents	represent	VERB
arjefm-77	185	3	the	the	DET
arjefm-77	185	4	assumed	assumed	ADJ
arjefm-77	185	5	positive	positive	ADJ
arjefm-77	185	6	smoothing	smoothing	NOUN
arjefm-77	185	7	parameter	parameter	NOUN
arjefm-77	185	8	.	.	PUNCT
arjefm-77	186	1	ibarra	ibarra	PROPN
arjefm-77	186	2	and	and	CCONJ
arjefm-77	186	3	trupkin	trupkin	NOUN
arjefm-77	186	4	(	(	PUNCT
arjefm-77	186	5	2011	2011	NUM
arjefm-77	186	6	)	)	PUNCT
arjefm-77	186	7	state	state	NOUN
arjefm-77	186	8	that	that	SCONJ
arjefm-77	186	9	if	if	SCONJ
arjefm-77	186	10	γ	γ	NOUN
arjefm-77	186	11	is	be	AUX
arjefm-77	186	12	large	large	ADJ
arjefm-77	186	13	,	,	PUNCT
arjefm-77	186	14	then	then	ADV
arjefm-77	186	15	the	the	DET
arjefm-77	186	16	pstr	pstr	NOUN
arjefm-77	186	17	model	model	NOUN
arjefm-77	186	18	can	can	AUX
arjefm-77	186	19	be	be	AUX
arjefm-77	186	20	considered	consider	VERB
arjefm-77	186	21	a	a	DET
arjefm-77	186	22	2	2	NUM
arjefm-77	186	23	-	-	PUNCT
arjefm-77	186	24	regime	regime	NOUN
arjefm-77	186	25	model	model	NOUN
arjefm-77	186	26	.	.	PUNCT
arjefm-77	187	1	under	under	ADP
arjefm-77	187	2	these	these	DET
arjefm-77	187	3	conditions	condition	NOUN
arjefm-77	187	4	the	the	DET
arjefm-77	187	5	transition	transition	NOUN
arjefm-77	187	6	function	function	NOUN
arjefm-77	187	7	can	can	AUX
arjefm-77	187	8	be	be	AUX
arjefm-77	187	9	written	write	VERB
arjefm-77	187	10	as	as	SCONJ
arjefm-77	187	11	follows	follow	VERB
arjefm-77	187	12	:	:	PUNCT
arjefm-77	187	13	m	m	VERB
arjefm-77	187	14	y	y	VERB
arjefm-77	187	15	it	it	PRON
arjefm-77	187	16	i	i	PRON
arjefm-77	187	17	0	0	NUM
arjefm-77	187	18	'	'	PUNCT
arjefm-77	187	19	x	x	NOUN
arjefm-77	188	1	it	it	PRON
arjefm-77	188	2	j	j	NOUN
arjefm-77	188	3	'	'	PUNCT
arjefm-77	188	4	xit	xit	PROPN
arjefm-77	188	5	g	g	PROPN
arjefm-77	188	6	(	(	PUNCT
arjefm-77	188	7	q	q	PROPN
arjefm-77	188	8	itj	itj	PROPN
arjefm-77	188	9	,	,	PUNCT
arjefm-77	188	10	,	,	PUNCT
arjefm-77	188	11	c	c	PROPN
arjefm-77	188	12	j	j	PROPN
arjefm-77	188	13	)	)	PUNCT
arjefm-77	188	14	it	it	PRON
arjefm-77	188	15	(	(	PUNCT
arjefm-77	188	16	3	3	X
arjefm-77	188	17	)	)	PUNCT
arjefm-77	188	18	j	j	NOUN
arjefm-77	188	19	3.2	3.2	NUM
arjefm-77	188	20	.	.	PUNCT
arjefm-77	188	21	estimation	estimation	NOUN
arjefm-77	188	22	procedure	procedure	NOUN
arjefm-77	188	23	linearity	linearity	NOUN
arjefm-77	188	24	test	test	NOUN
arjefm-77	188	25	since	since	SCONJ
arjefm-77	188	26	the	the	DET
arjefm-77	188	27	study	study	NOUN
arjefm-77	188	28	seeks	seek	VERB
arjefm-77	188	29	to	to	PART
arjefm-77	188	30	establish	establish	VERB
arjefm-77	188	31	a	a	DET
arjefm-77	188	32	non	non	ADJ
arjefm-77	188	33	-	-	ADJ
arjefm-77	188	34	linear	linear	ADJ
arjefm-77	188	35	relationship	relationship	NOUN
arjefm-77	188	36	between	between	ADP
arjefm-77	188	37	bank	bank	NOUN
arjefm-77	188	38	capital	capital	NOUN
arjefm-77	188	39	and	and	CCONJ
arjefm-77	188	40	liquidity	liquidity	NOUN
arjefm-77	188	41	risk	risk	NOUN
arjefm-77	189	1	,	,	PUNCT
arjefm-77	189	2	we	we	PRON
arjefm-77	189	3	must	must	AUX
arjefm-77	189	4	first	first	ADV
arjefm-77	189	5	perform	perform	VERB
arjefm-77	189	6	the	the	DET
arjefm-77	189	7	linearity	linearity	NOUN
arjefm-77	189	8	test	test	NOUN
arjefm-77	189	9	.	.	PUNCT
arjefm-77	190	1	this	this	DET
arjefm-77	190	2	test	test	NOUN
arjefm-77	190	3	consists	consist	VERB
arjefm-77	190	4	in	in	ADP
arjefm-77	190	5	checking	check	VERB
arjefm-77	190	6	whether	whether	SCONJ
arjefm-77	190	7	the	the	DET
arjefm-77	190	8	link	link	NOUN
arjefm-77	190	9	between	between	ADP
arjefm-77	190	10	bank	bank	NOUN
arjefm-77	190	11	capital	capital	NOUN
arjefm-77	190	12	and	and	CCONJ
arjefm-77	190	13	liquidity	liquidity	NOUN
arjefm-77	190	14	risk	risk	NOUN
arjefm-77	190	15	can	can	AUX
arjefm-77	190	16	be	be	AUX
arjefm-77	190	17	estimated	estimate	VERB
arjefm-77	190	18	by	by	ADP
arjefm-77	190	19	a	a	DET
arjefm-77	190	20	standard	standard	ADJ
arjefm-77	190	21	panel	panel	NOUN
arjefm-77	190	22	model	model	NOUN
arjefm-77	190	23	(	(	PUNCT
arjefm-77	190	24	linear	linear	PROPN
arjefm-77	190	25	panel	panel	NOUN
arjefm-77	190	26	model	model	NOUN
arjefm-77	190	27	)	)	PUNCT
arjefm-77	190	28	or	or	CCONJ
arjefm-77	190	29	by	by	ADP
arjefm-77	190	30	a	a	DET
arjefm-77	190	31	pstr	pstr	NOUN
arjefm-77	190	32	model	model	NOUN
arjefm-77	190	33	.	.	PUNCT
arjefm-77	191	1	the	the	DET
arjefm-77	191	2	null	null	ADJ
arjefm-77	191	3	hypothesis	hypothesis	NOUN
arjefm-77	191	4	of	of	ADP
arjefm-77	191	5	the	the	DET
arjefm-77	191	6	test	test	NOUN
arjefm-77	191	7	is	be	AUX
arjefm-77	191	8	versus	versus	ADP
arjefm-77	191	9	the	the	DET
arjefm-77	191	10	alternative	alternative	ADJ
arjefm-77	191	11	hypothesis	hypothesis	NOUN
arjefm-77	191	12	.	.	PUNCT
arjefm-77	192	1	however	however	ADV
arjefm-77	192	2	,	,	PUNCT
arjefm-77	192	3	due	due	ADP
arjefm-77	192	4	to	to	ADP
arjefm-77	192	5	the	the	DET
arjefm-77	192	6	presence	presence	NOUN
arjefm-77	192	7	of	of	ADP
arjefm-77	192	8	unidentified	unidentified	ADJ
arjefm-77	192	9	nuisance	nuisance	ADJ
arjefm-77	192	10	parameters	parameter	NOUN
arjefm-77	192	11	in	in	ADP
arjefm-77	192	12	the	the	DET
arjefm-77	192	13	pstr	pstr	NOUN
arjefm-77	192	14	model	model	NOUN
arjefm-77	192	15	,	,	PUNCT
arjefm-77	192	16	under	under	ADP
arjefm-77	192	17	the	the	DET
arjefm-77	192	18	null	null	ADJ
arjefm-77	192	19	hypothesis	hypothesis	NOUN
arjefm-77	192	20	,	,	PUNCT
arjefm-77	192	21	the	the	DET
arjefm-77	192	22	associated	associated	ADJ
arjefm-77	192	23	test	test	NOUN
arjefm-77	192	24	is	be	AUX
arjefm-77	192	25	nonstandard	nonstandard	ADJ
arjefm-77	192	26	(	(	PUNCT
arjefm-77	192	27	gonzalez	gonzalez	PROPN
arjefm-77	192	28	et	et	PROPN
arjefm-77	192	29	al	al	PROPN
arjefm-77	192	30	,	,	PUNCT
arjefm-77	192	31	2005	2005	NUM
arjefm-77	192	32	)	)	PUNCT
arjefm-77	192	33	.	.	PUNCT
arjefm-77	193	1	to	to	PART
arjefm-77	193	2	circumvent	circumvent	VERB
arjefm-77	193	3	this	this	DET
arjefm-77	193	4	identification	identification	NOUN
arjefm-77	193	5	problem	problem	NOUN
arjefm-77	193	6	,	,	PUNCT
arjefm-77	193	7	the	the	DET
arjefm-77	193	8	transition	transition	NOUN
arjefm-77	193	9	function	function	NOUN
arjefm-77	193	10	is	be	AUX
arjefm-77	193	11	replaced	replace	VERB
arjefm-77	193	12	by	by	ADP
arjefm-77	193	13	the	the	DET
arjefm-77	193	14	firstorder	firstorder	NOUN
arjefm-77	193	15	taylor	taylor	PROPN
arjefm-77	193	16	expansion	expansion	NOUN
arjefm-77	193	17	around	around	ADP
arjefm-77	193	18	thus	thus	ADV
arjefm-77	193	19	,	,	PUNCT
arjefm-77	193	20	the	the	DET
arjefm-77	193	21	new	new	ADJ
arjefm-77	193	22	transition	transition	NOUN
arjefm-77	193	23	function	function	NOUN
arjefm-77	193	24	can	can	AUX
arjefm-77	193	25	be	be	AUX
arjefm-77	193	26	written	write	VERB
arjefm-77	193	27	as	as	SCONJ
arjefm-77	193	28	follows	follow	VERB
arjefm-77	193	29	:	:	PUNCT
arjefm-77	194	1	y	y	NOUN
arjefm-77	194	2	it	it	PRON
arjefm-77	194	3	i	i	PRON
arjefm-77	194	4	0	0	PUNCT
arjefm-77	194	5	'	'	VERB
arjefm-77	194	6	*	*	PUNCT
arjefm-77	195	1	x	x	SYM
arjefm-77	195	2	it	it	PRON
arjefm-77	195	3	1	1	NUM
arjefm-77	195	4	'	'	NOUN
arjefm-77	195	5	*	*	NOUN
arjefm-77	196	1	x	x	X
arjefm-77	196	2	it	it	PRON
arjefm-77	196	3	q	q	X
arjefm-77	196	4	it	it	PRON
arjefm-77	196	5	........	........	PUNCT
arjefm-77	197	1	m	m	VERB
arjefm-77	197	2	'	'	NUM
arjefm-77	197	3	*	*	PUNCT
arjefm-77	198	1	x	x	X
arjefm-77	198	2	it	it	PRON
arjefm-77	198	3	q	q	X
arjefm-77	198	4	itm	itm	NOUN
arjefm-77	199	1	it	it	PRON
arjefm-77	199	2	*	*	PUNCT
arjefm-77	199	3	(	(	PUNCT
arjefm-77	199	4	4	4	NUM
arjefm-77	199	5	)	)	PUNCT
arjefm-77	199	6	where	where	SCONJ
arjefm-77	199	7	the	the	DET
arjefm-77	199	8	parameter	parameter	NOUN
arjefm-77	199	9	vectors	vector	NOUN
arjefm-77	199	10	are	be	AUX
arjefm-77	199	11	multiples	multiple	NOUN
arjefm-77	199	12	of	of	ADP
arjefm-77	199	13	and	and	CCONJ
arjefm-77	199	14	where	where	SCONJ
arjefm-77	199	15	is	be	AUX
arjefm-77	199	16	the	the	DET
arjefm-77	199	17	residual	residual	ADJ
arjefm-77	199	18	of	of	ADP
arjefm-77	199	19	the	the	DET
arjefm-77	199	20	taylor	taylor	PROPN
arjefm-77	199	21	expansion	expansion	NOUN
arjefm-77	199	22	.	.	PUNCT
arjefm-77	200	1	the	the	DET
arjefm-77	200	2	null	null	ADJ
arjefm-77	200	3	hypothesis	hypothesis	NOUN
arjefm-77	200	4	can	can	AUX
arjefm-77	200	5	be	be	AUX
arjefm-77	200	6	tested	test	VERB
arjefm-77	200	7	using	use	VERB
arjefm-77	200	8	fischer	fischer	PROPN
arjefm-77	200	9	's	's	PART
arjefm-77	200	10	lm	lm	PROPN
arjefm-77	200	11	test	test	NOUN
arjefm-77	200	12	,	,	PUNCT
arjefm-77	200	13	wald	wald	PROPN
arjefm-77	200	14	's	's	PART
arjefm-77	200	15	test	test	NOUN
arjefm-77	200	16	as	as	ADV
arjefm-77	200	17	well	well	ADV
arjefm-77	200	18	as	as	ADP
arjefm-77	200	19	the	the	DET
arjefm-77	200	20	lr	lr	PROPN
arjefm-77	200	21	test	test	NOUN
arjefm-77	200	22	likelihood	likelihood	PROPN
arjefm-77	200	23	ratio	ratio	NOUN
arjefm-77	200	24	test	test	NOUN
arjefm-77	200	25	.	.	PUNCT
arjefm-77	201	1	the	the	DET
arjefm-77	201	2	statistics	statistic	NOUN
arjefm-77	201	3	associated	associate	VERB
arjefm-77	201	4	with	with	ADP
arjefm-77	201	5	these	these	DET
arjefm-77	201	6	three	three	NUM
arjefm-77	201	7	tests	test	NOUN
arjefm-77	201	8	are	be	AUX
arjefm-77	201	9	as	as	SCONJ
arjefm-77	201	10	follows	follow	VERB
arjefm-77	201	11	:	:	PUNCT
arjefm-77	201	12	lm	lm	PROPN
arjefm-77	201	13	fischer	fischer	PROPN
arjefm-77	201	14	test	test	NOUN
arjefm-77	201	15	:	:	PUNCT
arjefm-77	202	1	lm	lm	INTJ
arjefm-77	202	2	f	f	X
arjefm-77	202	3	(	(	PUNCT
arjefm-77	202	4	ssr0	ssr0	PROPN
arjefm-77	202	5	ssr1	ssr1	PROPN
arjefm-77	202	6	)	)	PUNCT
arjefm-77	202	7	/	/	SYM
arjefm-77	202	8	k	k	PROPN
arjefm-77	202	9	/	/	SYM
arjefm-77	202	10	ssr0	ssr0	PROPN
arjefm-77	202	11	/	/	PUNCT
arjefm-77	202	12	(	(	PUNCT
arjefm-77	202	13	nt	not	PART
arjefm-77	202	14	n	n	ADV
arjefm-77	202	15	k	k	NOUN
arjefm-77	202	16	)	)	PUNCT
arjefm-77	202	17	(	(	PUNCT
arjefm-77	202	18	5	5	X
arjefm-77	202	19	)	)	PUNCT
arjefm-77	202	20	lm	lm	NOUN
arjefm-77	202	21	wald	wald	PROPN
arjefm-77	202	22	test	test	NOUN
arjefm-77	202	23	:	:	PUNCT
arjefm-77	202	24	lmw	lmw	ADJ
arjefm-77	202	25	nt	not	PART
arjefm-77	202	26	(	(	PUNCT
arjefm-77	202	27	ssr0	ssr0	PROPN
arjefm-77	202	28	ssr1	ssr1	PROPN
arjefm-77	202	29	)	)	PUNCT
arjefm-77	202	30	/	/	SYM
arjefm-77	202	31	ssr0	ssr0	NOUN
arjefm-77	202	32	(	(	PUNCT
arjefm-77	202	33	6	6	NUM
arjefm-77	202	34	)	)	PUNCT
arjefm-77	202	35	lr	lr	NOUN
arjefm-77	202	36	test	test	NOUN
arjefm-77	202	37	:	:	PUNCT
arjefm-77	202	38	lr	lr	PROPN
arjefm-77	202	39	2	2	NUM
arjefm-77	202	40	log(ssr1	log(ssr1	PROPN
arjefm-77	202	41	)	)	PUNCT
arjefm-77	202	42	log(ssr0	log(ssr0	PROPN
arjefm-77	202	43	)	)	PUNCT
arjefm-77	202	44	(	(	PUNCT
arjefm-77	202	45	7	7	X
arjefm-77	202	46	)	)	PUNCT
arjefm-77	202	47	where	where	SCONJ
arjefm-77	202	48	is	be	AUX
arjefm-77	202	49	the	the	DET
arjefm-77	202	50	sum	sum	NOUN
arjefm-77	202	51	of	of	ADP
arjefm-77	202	52	the	the	DET
arjefm-77	202	53	squares	square	NOUN
arjefm-77	202	54	of	of	ADP
arjefm-77	202	55	the	the	DET
arjefm-77	202	56	panel	panel	NOUN
arjefm-77	202	57	residuals	residual	VERB
arjefm-77	202	58	under	under	ADP
arjefm-77	202	59	(	(	PUNCT
arjefm-77	202	60	linear	linear	ADJ
arjefm-77	202	61	panel	panel	NOUN
arjefm-77	202	62	model	model	NOUN
arjefm-77	202	63	with	with	ADP
arjefm-77	202	64	individual	individual	ADJ
arjefm-77	202	65	effects	effect	NOUN
arjefm-77	202	66	)	)	PUNCT
arjefm-77	202	67	and	and	CCONJ
arjefm-77	202	68	the	the	DET
arjefm-77	202	69	sum	sum	NOUN
arjefm-77	202	70	of	of	ADP
arjefm-77	202	71	the	the	DET
arjefm-77	202	72	squares	square	NOUN
arjefm-77	202	73	of	of	ADP
arjefm-77	202	74	the	the	DET
arjefm-77	202	75	panel	panel	NOUN
arjefm-77	202	76	residuals	residual	VERB
arjefm-77	202	77	under	under	ADP
arjefm-77	202	78	h1	h1	NOUN
arjefm-77	202	79	(	(	PUNCT
arjefm-77	202	80	pstr	pstr	NOUN
arjefm-77	202	81	model	model	NOUN
arjefm-77	202	82	with	with	ADP
arjefm-77	202	83	two	two	NUM
arjefm-77	202	84	regimes	regime	NOUN
arjefm-77	202	85	)	)	PUNCT
arjefm-77	202	86	.	.	PUNCT
arjefm-77	203	1	note	note	VERB
arjefm-77	203	2	also	also	ADV
arjefm-77	203	3	that	that	SCONJ
arjefm-77	203	4	the	the	DET
arjefm-77	203	5	fischer	fischer	PROPN
arjefm-77	203	6	lmf	lmf	PROPN
arjefm-77	203	7	statistic	statistic	PROPN
arjefm-77	203	8	follows	follow	VERB
arjefm-77	203	9	a	a	DET
arjefm-77	203	10	fischer	fischer	NOUN
arjefm-77	203	11	distribution	distribution	NOUN
arjefm-77	203	12	with	with	ADP
arjefm-77	203	13	k	k	PROPN
arjefm-77	203	14	and	and	CCONJ
arjefm-77	203	15	nt	not	PART
arjefm-77	203	16	-	-	PUNCT
arjefm-77	203	17	n	n	CCONJ
arjefm-77	203	18	-	-	PUNCT
arjefm-77	203	19	k	k	NOUN
arjefm-77	203	20	degrees	degree	NOUN
arjefm-77	203	21	of	of	ADP
arjefm-77	203	22	freedom	freedom	NOUN
arjefm-77	203	23	,	,	PUNCT
arjefm-77	203	24	where	where	SCONJ
arjefm-77	203	25	k	k	NOUN
arjefm-77	203	26	,	,	PUNCT
arjefm-77	203	27	n	n	CCONJ
arjefm-77	203	28	,	,	PUNCT
arjefm-77	203	29	and	and	CCONJ
arjefm-77	203	30	t	t	PROPN
arjefm-77	203	31	represent	represent	VERB
arjefm-77	203	32	the	the	DET
arjefm-77	203	33	number	number	NOUN
arjefm-77	203	34	of	of	ADP
arjefm-77	203	35	explanatory	explanatory	ADJ
arjefm-77	203	36	variables	variable	NOUN
arjefm-77	203	37	,	,	PUNCT
arjefm-77	203	38	number	number	NOUN
arjefm-77	203	39	of	of	ADP
arjefm-77	203	40	countries	country	NOUN
arjefm-77	203	41	,	,	PUNCT
arjefm-77	203	42	and	and	CCONJ
arjefm-77	203	43	number	number	NOUN
arjefm-77	203	44	of	of	ADP
arjefm-77	203	45	years	year	NOUN
arjefm-77	203	46	,	,	PUNCT
arjefm-77	203	47	respectively	respectively	ADV
arjefm-77	203	48	.	.	PUNCT
arjefm-77	204	1	the	the	DET
arjefm-77	204	2	wald	wald	PROPN
arjefm-77	204	3	statistic	statistic	NOUN
arjefm-77	204	4	and	and	CCONJ
arjefm-77	204	5	the	the	DET
arjefm-77	204	6	lr	lr	PROPN
arjefm-77	204	7	test	test	NOUN
arjefm-77	204	8	follow	follow	VERB
arjefm-77	204	9	a	a	DET
arjefm-77	204	10	chi2	chi2	NOUN
arjefm-77	204	11	distribution	distribution	NOUN
arjefm-77	204	12	with	with	ADP
arjefm-77	204	13	k	k	PROPN
arjefm-77	204	14	degrees	degree	NOUN
arjefm-77	204	15	of	of	ADP
arjefm-77	204	16	freedom	freedom	NOUN
arjefm-77	204	17	.	.	PUNCT
arjefm-77	205	1	if	if	SCONJ
arjefm-77	205	2	at	at	ADP
arjefm-77	205	3	the	the	DET
arjefm-77	205	4	end	end	NOUN
arjefm-77	205	5	of	of	ADP
arjefm-77	205	6	the	the	DET
arjefm-77	205	7	test	test	NOUN
arjefm-77	205	8	,	,	PUNCT
arjefm-77	205	9	the	the	DET
arjefm-77	205	10	null	null	ADJ
arjefm-77	205	11	hypothesis	hypothesis	NOUN
arjefm-77	205	12	is	be	AUX
arjefm-77	205	13	rejected	reject	VERB
arjefm-77	205	14	,	,	PUNCT
arjefm-77	205	15	this	this	PRON
arjefm-77	205	16	would	would	AUX
arjefm-77	205	17	imply	imply	VERB
arjefm-77	205	18	that	that	SCONJ
arjefm-77	205	19	the	the	DET
arjefm-77	205	20	model	model	NOUN
arjefm-77	205	21	can	can	AUX
arjefm-77	205	22	be	be	AUX
arjefm-77	205	23	estimated	estimate	VERB
arjefm-77	205	24	using	use	VERB
arjefm-77	205	25	the	the	DET
arjefm-77	205	26	pstr	pstr	NOUN
arjefm-77	205	27	.	.	PUNCT
arjefm-77	206	1	in	in	ADP
arjefm-77	206	2	this	this	DET
arjefm-77	206	3	case	case	NOUN
arjefm-77	206	4	,	,	PUNCT
arjefm-77	206	5	the	the	DET
arjefm-77	206	6	next	next	ADJ
arjefm-77	206	7	step	step	NOUN
arjefm-77	206	8	would	would	AUX
arjefm-77	206	9	be	be	AUX
arjefm-77	206	10	to	to	PART
arjefm-77	206	11	determine	determine	VERB
arjefm-77	206	12	the	the	DET
arjefm-77	206	13	number	number	NOUN
arjefm-77	206	14	of	of	ADP
arjefm-77	206	15	regimes	regime	NOUN
arjefm-77	206	16	in	in	ADP
arjefm-77	206	17	the	the	DET
arjefm-77	206	18	model	model	NOUN
arjefm-77	206	19	.	.	PUNCT
arjefm-77	207	1	test	test	NOUN
arjefm-77	207	2	of	of	ADP
arjefm-77	207	3	the	the	DET
arjefm-77	207	4	number	number	NOUN
arjefm-77	207	5	of	of	ADP
arjefm-77	207	6	regimes	regime	NOUN
arjefm-77	207	7	the	the	DET
arjefm-77	207	8	second	second	ADJ
arjefm-77	207	9	step	step	NOUN
arjefm-77	207	10	of	of	ADP
arjefm-77	207	11	the	the	DET
arjefm-77	207	12	procedure	procedure	NOUN
arjefm-77	207	13	aims	aim	VERB
arjefm-77	207	14	at	at	ADP
arjefm-77	207	15	testing	test	VERB
arjefm-77	207	16	the	the	DET
arjefm-77	207	17	number	number	NOUN
arjefm-77	207	18	of	of	ADP
arjefm-77	207	19	regimes	regime	NOUN
arjefm-77	207	20	of	of	ADP
arjefm-77	207	21	the	the	DET
arjefm-77	207	22	pstr	pstr	NOUN
arjefm-77	207	23	model	model	NOUN
arjefm-77	207	24	.	.	PUNCT
arjefm-77	208	1	in	in	ADP
arjefm-77	208	2	practical	practical	ADJ
arjefm-77	208	3	terms	term	NOUN
arjefm-77	208	4	,	,	PUNCT
arjefm-77	208	5	this	this	DET
arjefm-77	208	6	test	test	NOUN
arjefm-77	208	7	consists	consist	VERB
arjefm-77	208	8	in	in	ADP
arjefm-77	208	9	identifying	identify	VERB
arjefm-77	208	10	whether	whether	SCONJ
arjefm-77	208	11	the	the	DET
arjefm-77	208	12	pstr	pstr	NOUN
arjefm-77	208	13	model	model	NOUN
arjefm-77	208	14	with	with	ADP
arjefm-77	208	15	two	two	NUM
arjefm-77	208	16	regimes	regime	NOUN
arjefm-77	208	17	is	be	AUX
arjefm-77	208	18	appropriate	appropriate	ADJ
arjefm-77	208	19	to	to	PART
arjefm-77	208	20	capture	capture	VERB
arjefm-77	208	21	the	the	DET
arjefm-77	208	22	nonlinearity	nonlinearity	NOUN
arjefm-77	208	23	between	between	ADP
arjefm-77	208	24	bank	bank	NOUN
arjefm-77	208	25	capital	capital	NOUN
arjefm-77	208	26	,	,	PUNCT
arjefm-77	208	27	and	and	CCONJ
arjefm-77	208	28	liquidity	liquidity	NOUN
arjefm-77	208	29	risk	risk	NOUN
arjefm-77	208	30	.	.	PUNCT
arjefm-77	209	1	the	the	DET
arjefm-77	209	2	null	null	ADJ
arjefm-77	209	3	hypothesis	hypothesis	NOUN
arjefm-77	209	4	of	of	ADP
arjefm-77	209	5	the	the	DET
arjefm-77	209	6	pstr	pstr	NOUN
arjefm-77	209	7	model	model	NOUN
arjefm-77	209	8	with	with	ADP
arjefm-77	209	9	two	two	NUM
arjefm-77	209	10	regimes	regime	NOUN
arjefm-77	209	11	is	be	AUX
arjefm-77	209	12	tested	test	VERB
arjefm-77	209	13	against	against	ADP
arjefm-77	209	14	the	the	DET
arjefm-77	209	15	alternative	alternative	ADJ
arjefm-77	209	16	hypothesis	hypothesis	NOUN
arjefm-77	209	17	of	of	ADP
arjefm-77	209	18	the	the	DET
arjefm-77	209	19	pstr	pstr	NOUN
arjefm-77	209	20	model	model	NOUN
arjefm-77	209	21	with	with	ADP
arjefm-77	209	22	at	at	ADV
arjefm-77	209	23	least	least	ADJ
arjefm-77	209	24	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-77	209	25	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	209	26	american	american	PROPN
arjefm-77	209	27	research	research	PROPN
arjefm-77	209	28	journal	journal	PROPN
arjefm-77	209	29	of	of	ADP
arjefm-77	209	30	economics	economic	NOUN
arjefm-77	209	31	,	,	PUNCT
arjefm-77	209	32	finance	finance	NOUN
arjefm-77	209	33	and	and	CCONJ
arjefm-77	209	34	management	management	NOUN
arjefm-77	209	35	volume	volume	NOUN
arjefm-77	209	36	11	11	NUM
arjefm-77	209	37	issue	issue	NOUN
arjefm-77	209	38	1	1	NUM
arjefm-77	209	39	,	,	PUNCT
arjefm-77	209	40	january	january	PROPN
arjefm-77	209	41	-	-	PUNCT
arjefm-77	209	42	march	march	PROPN
arjefm-77	209	43	2023	2023	NUM
arjefm-77	209	44	issn	issn	NOUN
arjefm-77	209	45	:	:	PUNCT
arjefm-77	209	46	2836	2836	NUM
arjefm-77	209	47	-	-	SYM
arjefm-77	209	48	9416	9416	NUM
arjefm-77	209	49	impact	impact	NOUN
arjefm-77	209	50	factor	factor	NOUN
arjefm-77	209	51	:	:	PUNCT
arjefm-77	209	52	5.57	5.57	NUM
arjefm-77	209	53	journal	journal	NOUN
arjefm-77	209	54	homepage	homepage	NOUN
arjefm-77	209	55	:	:	PUNCT
arjefm-77	209	56	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	209	57	,	,	PUNCT
arjefm-77	209	58	email	email	NOUN
arjefm-77	209	59	:	:	PUNCT
arjefm-77	209	60	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	209	61	official	official	ADJ
arjefm-77	209	62	journal	journal	PROPN
arjefm-77	209	63	of	of	ADP
arjefm-77	209	64	america	america	PROPN
arjefm-77	209	65	serial	serial	PROPN
arjefm-77	209	66	publication	publication	NOUN
arjefm-77	209	67	american	american	PROPN
arjefm-77	209	68	research	research	PROPN
arjefm-77	209	69	journal	journal	PROPN
arjefm-77	209	70	of	of	ADP
arjefm-77	209	71	economics	economic	NOUN
arjefm-77	209	72	,	,	PUNCT
arjefm-77	209	73	finance	finance	NOUN
arjefm-77	209	74	and	and	CCONJ
arjefm-77	209	75	management	management	NOUN
arjefm-77	209	76	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	209	77	,	,	PUNCT
arjefm-77	209	78	email	email	NOUN
arjefm-77	209	79	:	:	PUNCT
arjefm-77	209	80	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	210	1	39	39	NUM
arjefm-77	211	1	|	|	ADV
arjefm-77	211	2	p	p	X
arjefm-77	211	3	a	a	DET
arjefm-77	211	4	g	g	NOUN
arjefm-77	211	5	e	e	NOUN
arjefm-77	211	6	three	three	NUM
arjefm-77	211	7	regimes	regime	NOUN
arjefm-77	211	8	.	.	PUNCT
arjefm-77	212	1	the	the	DET
arjefm-77	212	2	test	test	NOUN
arjefm-77	212	3	decisions	decision	NOUN
arjefm-77	212	4	are	be	AUX
arjefm-77	212	5	also	also	ADV
arjefm-77	212	6	based	base	VERB
arjefm-77	212	7	on	on	ADP
arjefm-77	212	8	wald	wald	PROPN
arjefm-77	212	9	,	,	PUNCT
arjefm-77	212	10	fischer	fischer	PROPN
arjefm-77	212	11	and	and	CCONJ
arjefm-77	212	12	lr	lr	PROPN
arjefm-77	212	13	test	test	NOUN
arjefm-77	212	14	statistics	statistic	NOUN
arjefm-77	212	15	.	.	PUNCT
arjefm-77	213	1	if	if	SCONJ
arjefm-77	213	2	the	the	DET
arjefm-77	213	3	null	null	ADJ
arjefm-77	213	4	hypothesis	hypothesis	NOUN
arjefm-77	213	5	is	be	AUX
arjefm-77	213	6	accepted	accept	VERB
arjefm-77	213	7	at	at	ADP
arjefm-77	213	8	the	the	DET
arjefm-77	213	9	end	end	NOUN
arjefm-77	213	10	of	of	ADP
arjefm-77	213	11	the	the	DET
arjefm-77	213	12	test	test	NOUN
arjefm-77	213	13	then	then	ADV
arjefm-77	213	14	the	the	DET
arjefm-77	213	15	pstr	pstr	NOUN
arjefm-77	213	16	model	model	NOUN
arjefm-77	213	17	with	with	ADP
arjefm-77	213	18	two	two	NUM
arjefm-77	213	19	regimes	regime	NOUN
arjefm-77	213	20	will	will	AUX
arjefm-77	213	21	be	be	AUX
arjefm-77	213	22	estimated	estimate	VERB
arjefm-77	213	23	.	.	PUNCT
arjefm-77	214	1	otherwise	otherwise	ADV
arjefm-77	214	2	,	,	PUNCT
arjefm-77	214	3	the	the	DET
arjefm-77	214	4	pstr	pstr	NOUN
arjefm-77	214	5	model	model	NOUN
arjefm-77	214	6	with	with	ADP
arjefm-77	214	7	three	three	NUM
arjefm-77	214	8	regimes	regime	NOUN
arjefm-77	214	9	will	will	AUX
arjefm-77	214	10	be	be	AUX
arjefm-77	214	11	estimated	estimate	VERB
arjefm-77	214	12	.	.	PUNCT
arjefm-77	215	1	after	after	ADP
arjefm-77	215	2	selecting	select	VERB
arjefm-77	215	3	the	the	DET
arjefm-77	215	4	number	number	NOUN
arjefm-77	215	5	of	of	ADP
arjefm-77	215	6	regimes	regime	NOUN
arjefm-77	215	7	,	,	PUNCT
arjefm-77	215	8	the	the	DET
arjefm-77	215	9	last	last	ADJ
arjefm-77	215	10	step	step	NOUN
arjefm-77	215	11	is	be	AUX
arjefm-77	215	12	to	to	PART
arjefm-77	215	13	estimate	estimate	VERB
arjefm-77	215	14	the	the	DET
arjefm-77	215	15	model	model	NOUN
arjefm-77	215	16	with	with	ADP
arjefm-77	215	17	the	the	DET
arjefm-77	215	18	nonlinear	nonlinear	ADJ
arjefm-77	215	19	least	least	ADJ
arjefm-77	215	20	squares	square	NOUN
arjefm-77	215	21	method	method	NOUN
arjefm-77	215	22	.	.	PUNCT
arjefm-77	216	1	4	4	X
arjefm-77	216	2	.	.	NOUN
arjefm-77	216	3	specification	specification	NOUN
arjefm-77	216	4	of	of	ADP
arjefm-77	216	5	the	the	DET
arjefm-77	216	6	study	study	NOUN
arjefm-77	216	7	model	model	NOUN
arjefm-77	216	8	the	the	DET
arjefm-77	216	9	purpose	purpose	NOUN
arjefm-77	216	10	of	of	ADP
arjefm-77	216	11	this	this	DET
arjefm-77	216	12	section	section	NOUN
arjefm-77	216	13	is	be	AUX
arjefm-77	216	14	to	to	PART
arjefm-77	216	15	define	define	VERB
arjefm-77	216	16	the	the	DET
arjefm-77	216	17	specification	specification	NOUN
arjefm-77	216	18	of	of	ADP
arjefm-77	216	19	the	the	DET
arjefm-77	216	20	model	model	NOUN
arjefm-77	216	21	used	use	VERB
arjefm-77	216	22	and	and	CCONJ
arjefm-77	216	23	the	the	DET
arjefm-77	216	24	source	source	NOUN
arjefm-77	216	25	of	of	ADP
arjefm-77	216	26	the	the	DET
arjefm-77	216	27	data	datum	NOUN
arjefm-77	216	28	.	.	PUNCT
arjefm-77	217	1	4.1	4.1	NUM
arjefm-77	217	2	.	.	PUNCT
arjefm-77	217	3	model	model	NOUN
arjefm-77	217	4	specification	specification	NOUN
arjefm-77	217	5	and	and	CCONJ
arjefm-77	217	6	variable	variable	ADJ
arjefm-77	217	7	description	description	NOUN
arjefm-77	217	8	as	as	SCONJ
arjefm-77	217	9	mentioned	mention	VERB
arjefm-77	217	10	above	above	ADV
arjefm-77	217	11	,	,	PUNCT
arjefm-77	217	12	we	we	PRON
arjefm-77	217	13	use	use	VERB
arjefm-77	217	14	the	the	DET
arjefm-77	217	15	smooth	smooth	ADJ
arjefm-77	217	16	transition	transition	NOUN
arjefm-77	217	17	panel	panel	NOUN
arjefm-77	217	18	method	method	NOUN
arjefm-77	217	19	(	(	PUNCT
arjefm-77	217	20	stp	stp	PROPN
arjefm-77	217	21	)	)	PUNCT
arjefm-77	217	22	to	to	PART
arjefm-77	217	23	examine	examine	VERB
arjefm-77	217	24	the	the	DET
arjefm-77	217	25	relationship	relationship	NOUN
arjefm-77	217	26	between	between	ADP
arjefm-77	217	27	bank	bank	NOUN
arjefm-77	217	28	capital	capital	NOUN
arjefm-77	217	29	and	and	CCONJ
arjefm-77	217	30	liquidity	liquidity	NOUN
arjefm-77	217	31	risk	risk	NOUN
arjefm-77	217	32	.	.	PUNCT
arjefm-77	218	1	to	to	PART
arjefm-77	218	2	do	do	VERB
arjefm-77	218	3	so	so	ADV
arjefm-77	218	4	,	,	PUNCT
arjefm-77	218	5	we	we	PRON
arjefm-77	218	6	adopt	adopt	VERB
arjefm-77	218	7	the	the	DET
arjefm-77	218	8	following	follow	VERB
arjefm-77	218	9	specification	specification	NOUN
arjefm-77	218	10	:	:	PUNCT
arjefm-77	218	11	rliq	rliq	NOUN
arjefm-77	218	12	it	it	PRON
arjefm-77	219	1	i	i	PRON
arjefm-77	219	2	1car	1car	VERB
arjefm-77	219	3	it	it	PRON
arjefm-77	219	4	2	2	NUM
arjefm-77	219	5	capit	capit	NOUN
arjefm-77	219	6	3cred	3cred	NUM
arjefm-77	219	7	it	it	PRON
arjefm-77	219	8	4	4	NUM
arjefm-77	219	9	cr	cr	SYM
arjefm-77	219	10	3	3	NUM
arjefm-77	219	11	it	it	PRON
arjefm-77	219	12	5tcpib	5tcpib	NUM
arjefm-77	219	13	it	it	PRON
arjefm-77	219	14	6	6	NUM
arjefm-77	219	15	infit	infit	NOUN
arjefm-77	219	16	(	(	PUNCT
arjefm-77	219	17	1	1	NUM
arjefm-77	219	18	'	'	PART
arjefm-77	219	19	car	car	NOUN
arjefm-77	219	20	it	it	PRON
arjefm-77	219	21	(	(	PUNCT
arjefm-77	219	22	8)	8)	NUM
arjefm-77	219	23	'	'	PUNCT
arjefm-77	219	24	'	'	PUNCT
arjefm-77	219	25	'	'	PUNCT
arjefm-77	219	26	'	'	PUNCT
arjefm-77	219	27	'	'	NUM
arjefm-77	219	28	2	2	NUM
arjefm-77	219	29	capit	capit	NOUN
arjefm-77	219	30	3	3	NUM
arjefm-77	219	31	cred	cre	VERB
arjefm-77	219	32	it	it	PRON
arjefm-77	219	33	4	4	NUM
arjefm-77	219	34	cr	cr	SYM
arjefm-77	219	35	3	3	NUM
arjefm-77	219	36	it	it	PRON
arjefm-77	219	37	5tcpib	5tcpib	NUM
arjefm-77	219	38	it	it	PRON
arjefm-77	219	39	6	6	NUM
arjefm-77	219	40	infit	infit	NOUN
arjefm-77	219	41	)	)	PUNCT
arjefm-77	220	1	*	*	PUNCT
arjefm-77	220	2	g	g	PROPN
arjefm-77	220	3	(	(	PUNCT
arjefm-77	220	4	capit	capit	PROPN
arjefm-77	220	5	,	,	PUNCT
arjefm-77	220	6	,	,	PUNCT
arjefm-77	220	7	c	c	NOUN
arjefm-77	220	8	)	)	PUNCT
arjefm-77	220	9	it	it	PRON
arjefm-77	220	10	in	in	ADP
arjefm-77	220	11	equation	equation	NOUN
arjefm-77	220	12	8	8	NUM
arjefm-77	220	13	,	,	PUNCT
arjefm-77	220	14	the	the	DET
arjefm-77	220	15	endogenous	endogenous	ADJ
arjefm-77	220	16	variable	variable	NOUN
arjefm-77	220	17	is	be	AUX
arjefm-77	220	18	liquidity	liquidity	NOUN
arjefm-77	220	19	risk	risk	NOUN
arjefm-77	220	20	.	.	PUNCT
arjefm-77	221	1	liquidity	liquidity	NOUN
arjefm-77	221	2	risk	risk	NOUN
arjefm-77	221	3	typically	typically	ADV
arjefm-77	221	4	arises	arise	VERB
arjefm-77	221	5	when	when	SCONJ
arjefm-77	221	6	the	the	DET
arjefm-77	221	7	bank	bank	NOUN
arjefm-77	221	8	is	be	AUX
arjefm-77	221	9	unable	unable	ADJ
arjefm-77	221	10	to	to	PART
arjefm-77	221	11	meet	meet	VERB
arjefm-77	221	12	its	its	PRON
arjefm-77	221	13	short	short	ADJ
arjefm-77	221	14	-	-	PUNCT
arjefm-77	221	15	term	term	NOUN
arjefm-77	221	16	liabilities	liability	NOUN
arjefm-77	221	17	.	.	PUNCT
arjefm-77	222	1	this	this	PRON
arjefm-77	222	2	leads	lead	VERB
arjefm-77	222	3	to	to	ADP
arjefm-77	222	4	considerable	considerable	ADJ
arjefm-77	222	5	losses	loss	NOUN
arjefm-77	222	6	that	that	PRON
arjefm-77	222	7	can	can	AUX
arjefm-77	222	8	negatively	negatively	ADV
arjefm-77	222	9	affect	affect	VERB
arjefm-77	222	10	the	the	DET
arjefm-77	222	11	bank	bank	NOUN
arjefm-77	222	12	's	's	PART
arjefm-77	222	13	performance	performance	NOUN
arjefm-77	222	14	and	and	CCONJ
arjefm-77	222	15	above	above	ADP
arjefm-77	222	16	all	all	PRON
arjefm-77	222	17	,	,	PUNCT
arjefm-77	222	18	impact	impact	VERB
arjefm-77	222	19	the	the	DET
arjefm-77	222	20	real	real	ADJ
arjefm-77	222	21	economy	economy	NOUN
arjefm-77	222	22	severely	severely	ADV
arjefm-77	222	23	(	(	PUNCT
arjefm-77	222	24	hakimi	hakimi	NOUN
arjefm-77	222	25	and	and	CCONJ
arjefm-77	222	26	zaghdoudi	zaghdoudi	NUM
arjefm-77	222	27	,	,	PUNCT
arjefm-77	222	28	2017	2017	NUM
arjefm-77	222	29	)	)	PUNCT
arjefm-77	222	30	.	.	PUNCT
arjefm-77	223	1	in	in	ADP
arjefm-77	223	2	the	the	DET
arjefm-77	223	3	literature	literature	NOUN
arjefm-77	223	4	,	,	PUNCT
arjefm-77	223	5	the	the	DET
arjefm-77	223	6	liquidity	liquidity	NOUN
arjefm-77	223	7	ratio	ratio	NOUN
arjefm-77	223	8	is	be	AUX
arjefm-77	223	9	measured	measure	VERB
arjefm-77	223	10	as	as	ADP
arjefm-77	223	11	the	the	DET
arjefm-77	223	12	share	share	NOUN
arjefm-77	223	13	of	of	ADP
arjefm-77	223	14	liquid	liquid	ADJ
arjefm-77	223	15	assets	asset	NOUN
arjefm-77	223	16	held	hold	VERB
arjefm-77	223	17	by	by	ADP
arjefm-77	223	18	the	the	DET
arjefm-77	223	19	bank	bank	NOUN
arjefm-77	223	20	to	to	ADP
arjefm-77	223	21	total	total	ADJ
arjefm-77	223	22	assets	asset	NOUN
arjefm-77	223	23	.	.	PUNCT
arjefm-77	224	1	thus	thus	ADV
arjefm-77	224	2	,	,	PUNCT
arjefm-77	224	3	an	an	DET
arjefm-77	224	4	increase	increase	NOUN
arjefm-77	224	5	in	in	ADP
arjefm-77	224	6	liquid	liquid	ADJ
arjefm-77	224	7	assets	asset	NOUN
arjefm-77	224	8	leads	lead	VERB
arjefm-77	224	9	to	to	ADP
arjefm-77	224	10	a	a	DET
arjefm-77	224	11	decrease	decrease	NOUN
arjefm-77	224	12	in	in	ADP
arjefm-77	224	13	liquidity	liquidity	NOUN
arjefm-77	224	14	risk	risk	NOUN
arjefm-77	224	15	while	while	SCONJ
arjefm-77	224	16	a	a	DET
arjefm-77	224	17	decrease	decrease	NOUN
arjefm-77	224	18	in	in	ADP
arjefm-77	224	19	liquid	liquid	ADJ
arjefm-77	224	20	assets	asset	NOUN
arjefm-77	224	21	reflects	reflect	VERB
arjefm-77	224	22	an	an	DET
arjefm-77	224	23	increase	increase	NOUN
arjefm-77	224	24	in	in	ADP
arjefm-77	224	25	liquidity	liquidity	NOUN
arjefm-77	224	26	risk	risk	NOUN
arjefm-77	224	27	.	.	PUNCT
arjefm-77	225	1	since	since	SCONJ
arjefm-77	225	2	the	the	DET
arjefm-77	225	3	liquidity	liquidity	NOUN
arjefm-77	225	4	ratio	ratio	NOUN
arjefm-77	225	5	and	and	CCONJ
arjefm-77	225	6	liquidity	liquidity	NOUN
arjefm-77	225	7	risk	risk	NOUN
arjefm-77	225	8	move	move	NOUN
arjefm-77	225	9	in	in	ADP
arjefm-77	225	10	opposite	opposite	ADJ
arjefm-77	225	11	directions	direction	NOUN
arjefm-77	225	12	,	,	PUNCT
arjefm-77	225	13	we	we	PRON
arjefm-77	225	14	decide	decide	VERB
arjefm-77	225	15	to	to	PART
arjefm-77	225	16	capture	capture	VERB
arjefm-77	225	17	liquidity	liquidity	NOUN
arjefm-77	225	18	risk	risk	NOUN
arjefm-77	225	19	by	by	ADP
arjefm-77	225	20	the	the	DET
arjefm-77	225	21	inverse	inverse	NOUN
arjefm-77	225	22	of	of	ADP
arjefm-77	225	23	the	the	DET
arjefm-77	225	24	liquidity	liquidity	NOUN
arjefm-77	225	25	ratio	ratio	NOUN
arjefm-77	225	26	,	,	PUNCT
arjefm-77	225	27	which	which	PRON
arjefm-77	225	28	we	we	PRON
arjefm-77	225	29	multiply	multiply	VERB
arjefm-77	225	30	by	by	ADP
arjefm-77	225	31	100	100	NUM
arjefm-77	225	32	to	to	PART
arjefm-77	225	33	facilitate	facilitate	VERB
arjefm-77	225	34	our	our	PRON
arjefm-77	225	35	interpretations	interpretation	NOUN
arjefm-77	225	36	.	.	PUNCT
arjefm-77	226	1	bank	bank	NOUN
arjefm-77	226	2	capitalization	capitalization	NOUN
arjefm-77	226	3	(	(	PUNCT
arjefm-77	226	4	car	car	NOUN
arjefm-77	226	5	)	)	PUNCT
arjefm-77	226	6	is	be	AUX
arjefm-77	226	7	the	the	DET
arjefm-77	226	8	variable	variable	NOUN
arjefm-77	226	9	of	of	ADP
arjefm-77	226	10	interest	interest	NOUN
arjefm-77	226	11	in	in	ADP
arjefm-77	226	12	this	this	DET
arjefm-77	226	13	study	study	NOUN
arjefm-77	226	14	.	.	PUNCT
arjefm-77	227	1	it	it	PRON
arjefm-77	227	2	is	be	AUX
arjefm-77	227	3	calculated	calculate	VERB
arjefm-77	227	4	as	as	ADP
arjefm-77	227	5	the	the	DET
arjefm-77	227	6	ratio	ratio	NOUN
arjefm-77	227	7	of	of	ADP
arjefm-77	227	8	bank	bank	NOUN
arjefm-77	227	9	capital	capital	NOUN
arjefm-77	227	10	to	to	ADP
arjefm-77	227	11	total	total	ADJ
arjefm-77	227	12	assets	asset	NOUN
arjefm-77	227	13	.	.	PUNCT
arjefm-77	228	1	according	accord	VERB
arjefm-77	228	2	to	to	ADP
arjefm-77	228	3	the	the	DET
arjefm-77	228	4	bale	bale	NOUN
arjefm-77	228	5	agreements	agreement	NOUN
arjefm-77	228	6	,	,	PUNCT
arjefm-77	228	7	a	a	DET
arjefm-77	228	8	ratio	ratio	NOUN
arjefm-77	228	9	higher	high	ADJ
arjefm-77	228	10	than	than	SCONJ
arjefm-77	228	11	8	8	NUM
arjefm-77	228	12	%	%	NOUN
arjefm-77	228	13	indicates	indicate	VERB
arjefm-77	228	14	that	that	SCONJ
arjefm-77	228	15	the	the	DET
arjefm-77	228	16	bank	bank	NOUN
arjefm-77	228	17	is	be	AUX
arjefm-77	228	18	sufficiently	sufficiently	ADV
arjefm-77	228	19	capitalized	capitalize	VERB
arjefm-77	228	20	,	,	PUNCT
arjefm-77	228	21	while	while	SCONJ
arjefm-77	228	22	a	a	DET
arjefm-77	228	23	ratio	ratio	NOUN
arjefm-77	228	24	lower	low	ADJ
arjefm-77	228	25	than	than	ADP
arjefm-77	228	26	this	this	DET
arjefm-77	228	27	threshold	threshold	NOUN
arjefm-77	228	28	suggests	suggest	VERB
arjefm-77	228	29	that	that	SCONJ
arjefm-77	228	30	the	the	DET
arjefm-77	228	31	bank	bank	NOUN
arjefm-77	228	32	is	be	AUX
arjefm-77	228	33	not	not	PART
arjefm-77	228	34	solvent	solvent	ADJ
arjefm-77	228	35	.	.	PUNCT
arjefm-77	229	1	looking	look	VERB
arjefm-77	229	2	at	at	ADP
arjefm-77	229	3	the	the	DET
arjefm-77	229	4	literature	literature	NOUN
arjefm-77	229	5	,	,	PUNCT
arjefm-77	229	6	studies	study	NOUN
arjefm-77	229	7	on	on	ADP
arjefm-77	229	8	the	the	DET
arjefm-77	229	9	link	link	NOUN
arjefm-77	229	10	between	between	ADP
arjefm-77	229	11	regulatory	regulatory	ADJ
arjefm-77	229	12	capital	capital	NOUN
arjefm-77	229	13	and	and	CCONJ
arjefm-77	229	14	liquidity	liquidity	NOUN
arjefm-77	229	15	risk	risk	NOUN
arjefm-77	229	16	lead	lead	NOUN
arjefm-77	229	17	to	to	ADP
arjefm-77	229	18	contradictory	contradictory	ADJ
arjefm-77	229	19	results	result	NOUN
arjefm-77	229	20	.	.	PUNCT
arjefm-77	230	1	some	some	PRON
arjefm-77	230	2	argue	argue	VERB
arjefm-77	230	3	for	for	ADP
arjefm-77	230	4	a	a	DET
arjefm-77	230	5	decrease	decrease	NOUN
arjefm-77	230	6	in	in	ADP
arjefm-77	230	7	liquidity	liquidity	NOUN
arjefm-77	230	8	risk	risk	NOUN
arjefm-77	230	9	while	while	SCONJ
arjefm-77	230	10	others	other	NOUN
arjefm-77	230	11	postulate	postulate	VERB
arjefm-77	230	12	the	the	DET
arjefm-77	230	13	opposite	opposite	ADJ
arjefm-77	230	14	effect	effect	NOUN
arjefm-77	230	15	(	(	PUNCT
arjefm-77	230	16	berger	berger	PROPN
arjefm-77	230	17	and	and	CCONJ
arjefm-77	230	18	bowman	bowman	PROPN
arjefm-77	230	19	,	,	PUNCT
arjefm-77	230	20	2009	2009	NUM
arjefm-77	230	21	;	;	PUNCT
arjefm-77	230	22	berger	berger	PROPN
arjefm-77	230	23	et	et	PROPN
arjefm-77	230	24	al	al	PROPN
arjefm-77	230	25	,	,	PUNCT
arjefm-77	230	26	2014	2014	NUM
arjefm-77	230	27	;	;	PUNCT
arjefm-77	230	28	fu	fu	PROPN
arjefm-77	230	29	et	et	PROPN
arjefm-77	230	30	al	al	PROPN
arjefm-77	230	31	,	,	PUNCT
arjefm-77	230	32	2016	2016	NUM
arjefm-77	230	33	)	)	PUNCT
arjefm-77	230	34	.	.	PUNCT
arjefm-77	231	1	the	the	DET
arjefm-77	231	2	expected	expect	VERB
arjefm-77	231	3	effect	effect	NOUN
arjefm-77	231	4	can	can	AUX
arjefm-77	231	5	therefore	therefore	ADV
arjefm-77	231	6	be	be	AUX
arjefm-77	231	7	positive	positive	ADJ
arjefm-77	231	8	or	or	CCONJ
arjefm-77	231	9	negative	negative	ADJ
arjefm-77	231	10	.	.	PUNCT
arjefm-77	232	1	the	the	DET
arjefm-77	232	2	second	second	ADJ
arjefm-77	232	3	variable	variable	NOUN
arjefm-77	232	4	of	of	ADP
arjefm-77	232	5	interest	interest	NOUN
arjefm-77	232	6	in	in	ADP
arjefm-77	232	7	the	the	DET
arjefm-77	232	8	study	study	NOUN
arjefm-77	232	9	is	be	AUX
arjefm-77	232	10	the	the	DET
arjefm-77	232	11	financial	financial	ADJ
arjefm-77	232	12	market	market	NOUN
arjefm-77	232	13	.	.	PUNCT
arjefm-77	233	1	it	it	PRON
arjefm-77	233	2	can	can	AUX
arjefm-77	233	3	be	be	AUX
arjefm-77	233	4	captured	capture	VERB
arjefm-77	233	5	using	use	VERB
arjefm-77	233	6	different	different	ADJ
arjefm-77	233	7	proxies	proxy	NOUN
arjefm-77	233	8	such	such	ADJ
arjefm-77	233	9	as	as	ADP
arjefm-77	233	10	market	market	NOUN
arjefm-77	233	11	capitalization	capitalization	NOUN
arjefm-77	233	12	,	,	PUNCT
arjefm-77	233	13	turnover	turnover	NOUN
arjefm-77	233	14	,	,	PUNCT
arjefm-77	233	15	and	and	CCONJ
arjefm-77	233	16	the	the	DET
arjefm-77	233	17	number	number	NOUN
arjefm-77	233	18	of	of	ADP
arjefm-77	233	19	shares	share	NOUN
arjefm-77	233	20	traded	trade	VERB
arjefm-77	233	21	(	(	PUNCT
arjefm-77	233	22	jun	jun	PROPN
arjefm-77	233	23	et	et	PROPN
arjefm-77	233	24	al	al	PROPN
arjefm-77	233	25	,	,	PUNCT
arjefm-77	233	26	2003	2003	NUM
arjefm-77	233	27	)	)	PUNCT
arjefm-77	233	28	.	.	PUNCT
arjefm-77	234	1	however	however	ADV
arjefm-77	234	2	,	,	PUNCT
arjefm-77	234	3	since	since	SCONJ
arjefm-77	234	4	the	the	DET
arjefm-77	234	5	most	most	ADV
arjefm-77	234	6	widely	widely	ADV
arjefm-77	234	7	used	use	VERB
arjefm-77	234	8	measure	measure	NOUN
arjefm-77	234	9	in	in	ADP
arjefm-77	234	10	the	the	DET
arjefm-77	234	11	literature	literature	NOUN
arjefm-77	234	12	is	be	AUX
arjefm-77	234	13	bank	bank	NOUN
arjefm-77	234	14	capitalization	capitalization	NOUN
arjefm-77	234	15	,	,	PUNCT
arjefm-77	234	16	it	it	PRON
arjefm-77	234	17	will	will	AUX
arjefm-77	234	18	be	be	AUX
arjefm-77	234	19	used	use	VERB
arjefm-77	234	20	in	in	ADP
arjefm-77	234	21	this	this	DET
arjefm-77	234	22	study	study	NOUN
arjefm-77	234	23	as	as	ADP
arjefm-77	234	24	a	a	DET
arjefm-77	234	25	proxy	proxy	NOUN
arjefm-77	234	26	for	for	ADP
arjefm-77	234	27	capturing	capture	VERB
arjefm-77	234	28	capital	capital	NOUN
arjefm-77	234	29	market	market	NOUN
arjefm-77	234	30	growth	growth	NOUN
arjefm-77	234	31	(	(	PUNCT
arjefm-77	234	32	cap	cap	NOUN
arjefm-77	234	33	)	)	PUNCT
arjefm-77	234	34	.	.	PUNCT
arjefm-77	235	1	similarly	similarly	ADV
arjefm-77	235	2	,	,	PUNCT
arjefm-77	235	3	regarding	regard	VERB
arjefm-77	235	4	the	the	DET
arjefm-77	235	5	objectives	objective	NOUN
arjefm-77	235	6	initially	initially	ADV
arjefm-77	235	7	set	set	VERB
arjefm-77	235	8	,	,	PUNCT
arjefm-77	235	9	market	market	NOUN
arjefm-77	235	10	capitalization	capitalization	NOUN
arjefm-77	235	11	will	will	AUX
arjefm-77	235	12	be	be	AUX
arjefm-77	235	13	used	use	VERB
arjefm-77	235	14	as	as	ADP
arjefm-77	235	15	a	a	DET
arjefm-77	235	16	transition	transition	NOUN
arjefm-77	235	17	variable	variable	NOUN
arjefm-77	235	18	to	to	PART
arjefm-77	235	19	test	test	VERB
arjefm-77	235	20	the	the	DET
arjefm-77	235	21	non	non	NOUN
arjefm-77	235	22	-	-	NOUN
arjefm-77	235	23	linearity	linearity	NOUN
arjefm-77	235	24	of	of	ADP
arjefm-77	235	25	the	the	DET
arjefm-77	235	26	relationship	relationship	NOUN
arjefm-77	235	27	between	between	ADP
arjefm-77	235	28	regulatory	regulatory	ADJ
arjefm-77	235	29	capital	capital	NOUN
arjefm-77	235	30	and	and	CCONJ
arjefm-77	235	31	liquidity	liquidity	NOUN
arjefm-77	235	32	risk	risk	NOUN
arjefm-77	235	33	.	.	PUNCT
arjefm-77	236	1	the	the	DET
arjefm-77	236	2	first	first	ADJ
arjefm-77	236	3	control	control	NOUN
arjefm-77	236	4	variable	variable	NOUN
arjefm-77	236	5	is	be	AUX
arjefm-77	236	6	the	the	DET
arjefm-77	236	7	credit	credit	NOUN
arjefm-77	236	8	ratio	ratio	NOUN
arjefm-77	236	9	(	(	PUNCT
arjefm-77	236	10	cred	cred	ADJ
arjefm-77	236	11	)	)	PUNCT
arjefm-77	236	12	.	.	PUNCT
arjefm-77	237	1	the	the	DET
arjefm-77	237	2	credit	credit	NOUN
arjefm-77	237	3	ratio	ratio	NOUN
arjefm-77	237	4	represents	represent	VERB
arjefm-77	237	5	the	the	DET
arjefm-77	237	6	share	share	NOUN
arjefm-77	237	7	of	of	ADP
arjefm-77	237	8	credit	credit	NOUN
arjefm-77	237	9	granted	grant	VERB
arjefm-77	237	10	by	by	ADP
arjefm-77	237	11	banks	bank	NOUN
arjefm-77	237	12	to	to	ADP
arjefm-77	237	13	the	the	DET
arjefm-77	237	14	private	private	ADJ
arjefm-77	237	15	sector	sector	NOUN
arjefm-77	237	16	as	as	ADP
arjefm-77	237	17	a	a	DET
arjefm-77	237	18	percentage	percentage	NOUN
arjefm-77	237	19	of	of	ADP
arjefm-77	237	20	gdp	gdp	NOUN
arjefm-77	237	21	.	.	PUNCT
arjefm-77	238	1	the	the	DET
arjefm-77	238	2	choice	choice	NOUN
arjefm-77	238	3	of	of	ADP
arjefm-77	238	4	this	this	DET
arjefm-77	238	5	variable	variable	NOUN
arjefm-77	238	6	in	in	ADP
arjefm-77	238	7	the	the	DET
arjefm-77	238	8	model	model	NOUN
arjefm-77	238	9	is	be	AUX
arjefm-77	238	10	motivated	motivate	VERB
arjefm-77	238	11	by	by	ADP
arjefm-77	238	12	the	the	DET
arjefm-77	238	13	fact	fact	NOUN
arjefm-77	238	14	that	that	SCONJ
arjefm-77	238	15	the	the	DET
arjefm-77	238	16	main	main	ADJ
arjefm-77	238	17	activity	activity	NOUN
arjefm-77	238	18	of	of	ADP
arjefm-77	238	19	banks	bank	NOUN
arjefm-77	238	20	in	in	ADP
arjefm-77	238	21	the	the	DET
arjefm-77	238	22	zone	zone	NOUN
arjefm-77	238	23	is	be	AUX
arjefm-77	238	24	granting	grant	VERB
arjefm-77	238	25	credit	credit	NOUN
arjefm-77	238	26	.	.	PUNCT
arjefm-77	239	1	moreover	moreover	ADV
arjefm-77	239	2	,	,	PUNCT
arjefm-77	239	3	credit	credit	NOUN
arjefm-77	239	4	is	be	AUX
arjefm-77	239	5	the	the	DET
arjefm-77	239	6	primary	primary	ADJ
arjefm-77	239	7	cause	cause	NOUN
arjefm-77	239	8	of	of	ADP
arjefm-77	239	9	risk	risk	NOUN
arjefm-77	239	10	in	in	ADP
arjefm-77	239	11	the	the	DET
arjefm-77	239	12	banking	banking	NOUN
arjefm-77	239	13	industry	industry	NOUN
arjefm-77	239	14	(	(	PUNCT
arjefm-77	239	15	pantalone	pantalone	NOUN
arjefm-77	239	16	and	and	CCONJ
arjefm-77	239	17	platt	platt	NOUN
arjefm-77	239	18	1987	1987	NUM
arjefm-77	239	19	)	)	PUNCT
arjefm-77	239	20	.	.	PUNCT
arjefm-77	240	1	thus	thus	ADV
arjefm-77	240	2	,	,	PUNCT
arjefm-77	240	3	a	a	DET
arjefm-77	240	4	bank	bank	NOUN
arjefm-77	240	5	that	that	PRON
arjefm-77	240	6	extends	extend	VERB
arjefm-77	240	7	a	a	DET
arjefm-77	240	8	lot	lot	NOUN
arjefm-77	240	9	of	of	ADP
arjefm-77	240	10	credit	credit	NOUN
arjefm-77	240	11	may	may	AUX
arjefm-77	240	12	lack	lack	VERB
arjefm-77	240	13	the	the	DET
arjefm-77	240	14	cash	cash	NOUN
arjefm-77	240	15	resources	resource	NOUN
arjefm-77	240	16	to	to	PART
arjefm-77	240	17	meet	meet	VERB
arjefm-77	240	18	the	the	DET
arjefm-77	240	19	withdrawal	withdrawal	NOUN
arjefm-77	240	20	demands	demand	NOUN
arjefm-77	240	21	of	of	ADP
arjefm-77	240	22	its	its	PRON
arjefm-77	240	23	customers	customer	NOUN
arjefm-77	240	24	.	.	PUNCT
arjefm-77	241	1	banking	banking	NOUN
arjefm-77	241	2	concentration	concentration	NOUN
arjefm-77	241	3	(	(	PUNCT
arjefm-77	241	4	cr3	cr3	NOUN
arjefm-77	241	5	)	)	PUNCT
arjefm-77	241	6	measures	measure	VERB
arjefm-77	241	7	the	the	DET
arjefm-77	241	8	market	market	NOUN
arjefm-77	241	9	share	share	NOUN
arjefm-77	241	10	of	of	ADP
arjefm-77	241	11	the	the	DET
arjefm-77	241	12	3	3	NUM
arjefm-77	241	13	largest	large	ADJ
arjefm-77	241	14	banks	bank	NOUN
arjefm-77	241	15	in	in	ADP
arjefm-77	241	16	the	the	DET
arjefm-77	241	17	country	country	NOUN
arjefm-77	241	18	.	.	PUNCT
arjefm-77	242	1	the	the	PRON
arjefm-77	242	2	higher	high	ADJ
arjefm-77	242	3	the	the	DET
arjefm-77	242	4	market	market	NOUN
arjefm-77	242	5	share	share	NOUN
arjefm-77	242	6	,	,	PUNCT
arjefm-77	242	7	the	the	PRON
arjefm-77	242	8	more	more	ADV
arjefm-77	242	9	concentrated	concentrate	VERB
arjefm-77	242	10	the	the	DET
arjefm-77	242	11	banking	banking	NOUN
arjefm-77	242	12	sector	sector	NOUN
arjefm-77	242	13	is	be	AUX
arjefm-77	242	14	,	,	PUNCT
arjefm-77	242	15	while	while	SCONJ
arjefm-77	242	16	the	the	PRON
arjefm-77	242	17	lower	low	ADJ
arjefm-77	242	18	the	the	DET
arjefm-77	242	19	market	market	NOUN
arjefm-77	242	20	share	share	NOUN
arjefm-77	242	21	,	,	PUNCT
arjefm-77	242	22	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	242	23	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	243	1	american	american	PROPN
arjefm-77	243	2	research	research	PROPN
arjefm-77	243	3	journal	journal	PROPN
arjefm-77	243	4	of	of	ADP
arjefm-77	243	5	economics	economic	NOUN
arjefm-77	243	6	,	,	PUNCT
arjefm-77	243	7	finance	finance	NOUN
arjefm-77	243	8	and	and	CCONJ
arjefm-77	243	9	management	management	NOUN
arjefm-77	243	10	volume	volume	NOUN
arjefm-77	243	11	11	11	NUM
arjefm-77	243	12	issue	issue	NOUN
arjefm-77	243	13	1	1	NUM
arjefm-77	243	14	,	,	PUNCT
arjefm-77	243	15	january	january	PROPN
arjefm-77	243	16	-	-	PUNCT
arjefm-77	243	17	march	march	PROPN
arjefm-77	243	18	2023	2023	NUM
arjefm-77	243	19	issn	issn	NOUN
arjefm-77	243	20	:	:	PUNCT
arjefm-77	243	21	2836	2836	NUM
arjefm-77	243	22	-	-	SYM
arjefm-77	243	23	9416	9416	NUM
arjefm-77	243	24	impact	impact	NOUN
arjefm-77	243	25	factor	factor	NOUN
arjefm-77	243	26	:	:	PUNCT
arjefm-77	243	27	5.57	5.57	NUM
arjefm-77	243	28	journal	journal	NOUN
arjefm-77	243	29	homepage	homepage	NOUN
arjefm-77	243	30	:	:	PUNCT
arjefm-77	243	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	243	32	,	,	PUNCT
arjefm-77	243	33	email	email	NOUN
arjefm-77	243	34	:	:	PUNCT
arjefm-77	244	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	244	2	official	official	ADJ
arjefm-77	244	3	journal	journal	PROPN
arjefm-77	244	4	of	of	ADP
arjefm-77	244	5	america	america	PROPN
arjefm-77	244	6	serial	serial	PROPN
arjefm-77	244	7	publication	publication	NOUN
arjefm-77	244	8	american	american	PROPN
arjefm-77	244	9	research	research	PROPN
arjefm-77	244	10	journal	journal	PROPN
arjefm-77	244	11	of	of	ADP
arjefm-77	244	12	economics	economic	NOUN
arjefm-77	244	13	,	,	PUNCT
arjefm-77	244	14	finance	finance	NOUN
arjefm-77	244	15	and	and	CCONJ
arjefm-77	244	16	management	management	NOUN
arjefm-77	244	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	244	18	,	,	PUNCT
arjefm-77	244	19	email	email	NOUN
arjefm-77	244	20	:	:	PUNCT
arjefm-77	244	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	245	1	40	40	NUM
arjefm-77	246	1	|	|	ADV
arjefm-77	246	2	p	p	X
arjefm-77	246	3	a	a	DET
arjefm-77	246	4	g	g	NOUN
arjefm-77	246	5	e	e	NOUN
arjefm-77	246	6	the	the	DET
arjefm-77	246	7	more	more	ADV
arjefm-77	246	8	competitive	competitive	ADJ
arjefm-77	246	9	the	the	DET
arjefm-77	246	10	banking	banking	NOUN
arjefm-77	246	11	sector	sector	NOUN
arjefm-77	246	12	becomes	become	VERB
arjefm-77	246	13	.	.	PUNCT
arjefm-77	247	1	the	the	DET
arjefm-77	247	2	literature	literature	NOUN
arjefm-77	247	3	is	be	AUX
arjefm-77	247	4	divided	divide	VERB
arjefm-77	247	5	on	on	ADP
arjefm-77	247	6	the	the	DET
arjefm-77	247	7	effect	effect	NOUN
arjefm-77	247	8	of	of	ADP
arjefm-77	247	9	concentration	concentration	NOUN
arjefm-77	247	10	on	on	ADP
arjefm-77	247	11	liquidity	liquidity	NOUN
arjefm-77	247	12	risk	risk	NOUN
arjefm-77	247	13	.	.	PUNCT
arjefm-77	248	1	some	some	DET
arjefm-77	248	2	authors	author	NOUN
arjefm-77	248	3	argue	argue	VERB
arjefm-77	248	4	that	that	SCONJ
arjefm-77	248	5	since	since	SCONJ
arjefm-77	248	6	concentration	concentration	NOUN
arjefm-77	248	7	gives	give	VERB
arjefm-77	248	8	banks	bank	NOUN
arjefm-77	248	9	market	market	NOUN
arjefm-77	248	10	power	power	NOUN
arjefm-77	248	11	,	,	PUNCT
arjefm-77	248	12	they	they	PRON
arjefm-77	248	13	can	can	AUX
arjefm-77	248	14	use	use	VERB
arjefm-77	248	15	it	it	PRON
arjefm-77	248	16	to	to	PART
arjefm-77	248	17	establish	establish	VERB
arjefm-77	248	18	and	and	CCONJ
arjefm-77	248	19	develop	develop	VERB
arjefm-77	248	20	long	long	ADJ
arjefm-77	248	21	-	-	PUNCT
arjefm-77	248	22	term	term	NOUN
arjefm-77	248	23	relationships	relationship	NOUN
arjefm-77	248	24	with	with	ADP
arjefm-77	248	25	their	their	PRON
arjefm-77	248	26	customers	customer	NOUN
arjefm-77	248	27	.	.	PUNCT
arjefm-77	249	1	on	on	ADP
arjefm-77	249	2	this	this	DET
arjefm-77	249	3	basis	basis	NOUN
arjefm-77	249	4	,	,	PUNCT
arjefm-77	249	5	banks	bank	NOUN
arjefm-77	249	6	would	would	AUX
arjefm-77	249	7	be	be	AUX
arjefm-77	249	8	less	less	ADV
arjefm-77	249	9	exposed	expose	VERB
arjefm-77	249	10	to	to	ADP
arjefm-77	249	11	risk	risk	NOUN
arjefm-77	249	12	given	give	VERB
arjefm-77	249	13	the	the	DET
arjefm-77	249	14	privileged	privileged	ADJ
arjefm-77	249	15	relationship	relationship	NOUN
arjefm-77	249	16	they	they	PRON
arjefm-77	249	17	have	have	VERB
arjefm-77	249	18	with	with	ADP
arjefm-77	249	19	their	their	PRON
arjefm-77	249	20	customers	customer	NOUN
arjefm-77	249	21	(	(	PUNCT
arjefm-77	249	22	petersen	petersen	PROPN
arjefm-77	249	23	and	and	CCONJ
arjefm-77	249	24	rajan	rajan	PROPN
arjefm-77	249	25	,	,	PUNCT
arjefm-77	249	26	1995	1995	NUM
arjefm-77	249	27	)	)	PUNCT
arjefm-77	249	28	.	.	PUNCT
arjefm-77	250	1	on	on	ADP
arjefm-77	250	2	the	the	DET
arjefm-77	250	3	other	other	ADJ
arjefm-77	250	4	hand	hand	NOUN
arjefm-77	250	5	,	,	PUNCT
arjefm-77	250	6	when	when	SCONJ
arjefm-77	250	7	the	the	DET
arjefm-77	250	8	banking	banking	NOUN
arjefm-77	250	9	market	market	NOUN
arjefm-77	250	10	becomes	become	VERB
arjefm-77	250	11	competitive	competitive	ADJ
arjefm-77	250	12	,	,	PUNCT
arjefm-77	250	13	it	it	PRON
arjefm-77	250	14	erodes	erode	VERB
arjefm-77	250	15	the	the	DET
arjefm-77	250	16	value	value	NOUN
arjefm-77	250	17	of	of	ADP
arjefm-77	250	18	the	the	DET
arjefm-77	250	19	banks	bank	NOUN
arjefm-77	250	20	'	'	PART
arjefm-77	250	21	franchise	franchise	NOUN
arjefm-77	250	22	(	(	PUNCT
arjefm-77	250	23	rents	rents	PROPN
arjefm-77	250	24	)	)	PUNCT
arjefm-77	250	25	,	,	PUNCT
arjefm-77	250	26	pushing	push	VERB
arjefm-77	250	27	them	they	PRON
arjefm-77	250	28	to	to	PART
arjefm-77	250	29	take	take	VERB
arjefm-77	250	30	more	more	ADJ
arjefm-77	250	31	risk	risk	NOUN
arjefm-77	250	32	to	to	PART
arjefm-77	250	33	compensate	compensate	VERB
arjefm-77	250	34	for	for	ADP
arjefm-77	250	35	the	the	DET
arjefm-77	250	36	decline	decline	NOUN
arjefm-77	250	37	in	in	ADP
arjefm-77	250	38	revenues	revenue	NOUN
arjefm-77	250	39	(	(	PUNCT
arjefm-77	250	40	brei	brei	ADV
arjefm-77	250	41	et	et	NOUN
arjefm-77	250	42	al	al	PROPN
arjefm-77	250	43	2020	2020	NUM
arjefm-77	250	44	)	)	PUNCT
arjefm-77	250	45	.	.	PUNCT
arjefm-77	251	1	based	base	VERB
arjefm-77	251	2	on	on	ADP
arjefm-77	251	3	this	this	DET
arjefm-77	251	4	work	work	NOUN
arjefm-77	251	5	,	,	PUNCT
arjefm-77	251	6	the	the	DET
arjefm-77	251	7	expected	expect	VERB
arjefm-77	251	8	effect	effect	NOUN
arjefm-77	251	9	can	can	AUX
arjefm-77	251	10	be	be	AUX
arjefm-77	251	11	both	both	ADV
arjefm-77	251	12	positive	positive	ADJ
arjefm-77	251	13	and	and	CCONJ
arjefm-77	251	14	negative	negative	ADJ
arjefm-77	251	15	.	.	PUNCT
arjefm-77	252	1	to	to	PART
arjefm-77	252	2	capture	capture	VERB
arjefm-77	252	3	the	the	DET
arjefm-77	252	4	effect	effect	NOUN
arjefm-77	252	5	of	of	ADP
arjefm-77	252	6	macroeconomic	macroeconomic	ADJ
arjefm-77	252	7	conditions	condition	NOUN
arjefm-77	252	8	on	on	ADP
arjefm-77	252	9	bank	bank	NOUN
arjefm-77	252	10	liquidity	liquidity	NOUN
arjefm-77	252	11	management	management	NOUN
arjefm-77	252	12	,	,	PUNCT
arjefm-77	252	13	we	we	PRON
arjefm-77	252	14	add	add	VERB
arjefm-77	252	15	the	the	DET
arjefm-77	252	16	gdp	gdp	NOUN
arjefm-77	252	17	growth	growth	NOUN
arjefm-77	252	18	rate	rate	NOUN
arjefm-77	252	19	(	(	PUNCT
arjefm-77	252	20	tcpib	tcpib	ADJ
arjefm-77	252	21	)	)	PUNCT
arjefm-77	252	22	and	and	CCONJ
arjefm-77	252	23	inflation	inflation	NOUN
arjefm-77	252	24	(	(	PUNCT
arjefm-77	252	25	inf	inf	NOUN
arjefm-77	252	26	)	)	PUNCT
arjefm-77	252	27	to	to	ADP
arjefm-77	252	28	the	the	DET
arjefm-77	252	29	model	model	NOUN
arjefm-77	252	30	.	.	PUNCT
arjefm-77	253	1	in	in	ADP
arjefm-77	253	2	general	general	ADJ
arjefm-77	253	3	,	,	PUNCT
arjefm-77	253	4	expansionary	expansionary	ADJ
arjefm-77	253	5	periods	period	NOUN
arjefm-77	253	6	are	be	AUX
arjefm-77	253	7	conducive	conducive	ADJ
arjefm-77	253	8	to	to	ADP
arjefm-77	253	9	the	the	DET
arjefm-77	253	10	development	development	NOUN
arjefm-77	253	11	of	of	ADP
arjefm-77	253	12	banking	banking	NOUN
arjefm-77	253	13	activities	activity	NOUN
arjefm-77	253	14	,	,	PUNCT
arjefm-77	253	15	because	because	SCONJ
arjefm-77	253	16	banks	bank	NOUN
arjefm-77	253	17	experience	experience	VERB
arjefm-77	253	18	fewer	few	ADJ
arjefm-77	253	19	defaults	default	NOUN
arjefm-77	253	20	from	from	ADP
arjefm-77	253	21	their	their	PRON
arjefm-77	253	22	counterparties	counterpartie	NOUN
arjefm-77	253	23	.	.	PUNCT
arjefm-77	254	1	in	in	ADP
arjefm-77	254	2	contrast	contrast	NOUN
arjefm-77	254	3	,	,	PUNCT
arjefm-77	254	4	during	during	ADP
arjefm-77	254	5	a	a	DET
arjefm-77	254	6	recession	recession	NOUN
arjefm-77	254	7	,	,	PUNCT
arjefm-77	254	8	the	the	DET
arjefm-77	254	9	general	general	ADJ
arjefm-77	254	10	price	price	NOUN
arjefm-77	254	11	level	level	NOUN
arjefm-77	254	12	rises	rise	VERB
arjefm-77	254	13	and	and	CCONJ
arjefm-77	254	14	affects	affect	VERB
arjefm-77	254	15	the	the	DET
arjefm-77	254	16	ability	ability	NOUN
arjefm-77	254	17	of	of	ADP
arjefm-77	254	18	agents	agent	NOUN
arjefm-77	254	19	to	to	PART
arjefm-77	254	20	repay	repay	VERB
arjefm-77	254	21	their	their	PRON
arjefm-77	254	22	loans	loan	NOUN
arjefm-77	254	23	(	(	PUNCT
arjefm-77	254	24	kanga	kanga	PROPN
arjefm-77	254	25	et	et	PROPN
arjefm-77	254	26	al	al	PROPN
arjefm-77	254	27	,	,	PUNCT
arjefm-77	254	28	2021	2021	NUM
arjefm-77	254	29	)	)	PUNCT
arjefm-77	254	30	.	.	PUNCT
arjefm-77	255	1	consequently	consequently	ADV
arjefm-77	255	2	,	,	PUNCT
arjefm-77	255	3	the	the	DET
arjefm-77	255	4	expected	expect	VERB
arjefm-77	255	5	effects	effect	NOUN
arjefm-77	255	6	of	of	ADP
arjefm-77	255	7	gdp	gdp	NOUN
arjefm-77	255	8	growth	growth	NOUN
arjefm-77	255	9	and	and	CCONJ
arjefm-77	255	10	inflation	inflation	NOUN
arjefm-77	255	11	are	be	AUX
arjefm-77	255	12	positive	positive	ADJ
arjefm-77	255	13	and	and	CCONJ
arjefm-77	255	14	negative	negative	ADJ
arjefm-77	255	15	,	,	PUNCT
arjefm-77	255	16	respectively	respectively	ADV
arjefm-77	255	17	.	.	PUNCT
arjefm-77	256	1	4.2	4.2	NUM
arjefm-77	256	2	.	.	PUNCT
arjefm-77	257	1	data	datum	NOUN
arjefm-77	257	2	sources	source	NOUN
arjefm-77	257	3	for	for	ADP
arjefm-77	257	4	this	this	DET
arjefm-77	257	5	study	study	NOUN
arjefm-77	257	6	,	,	PUNCT
arjefm-77	257	7	the	the	DET
arjefm-77	257	8	data	datum	NOUN
arjefm-77	257	9	used	use	VERB
arjefm-77	257	10	covers	cover	VERB
arjefm-77	257	11	7	7	NUM
arjefm-77	257	12	countries	country	NOUN
arjefm-77	257	13	,	,	PUNCT
arjefm-77	257	14	all	all	DET
arjefm-77	257	15	members	member	NOUN
arjefm-77	257	16	of	of	ADP
arjefm-77	257	17	the	the	DET
arjefm-77	257	18	waemu	waemu	NOUN
arjefm-77	257	19	,	,	PUNCT
arjefm-77	257	20	except	except	SCONJ
arjefm-77	257	21	guinea	guinea	NOUN
arjefm-77	257	22	-	-	PUNCT
arjefm-77	257	23	bissau	bissau	NOUN
arjefm-77	257	24	,	,	PUNCT
arjefm-77	257	25	due	due	ADP
arjefm-77	257	26	to	to	ADP
arjefm-77	257	27	a	a	DET
arjefm-77	257	28	lack	lack	NOUN
arjefm-77	257	29	of	of	ADP
arjefm-77	257	30	sufficient	sufficient	ADJ
arjefm-77	257	31	data	datum	NOUN
arjefm-77	257	32	for	for	ADP
arjefm-77	257	33	the	the	DET
arjefm-77	257	34	study	study	NOUN
arjefm-77	257	35	period	period	NOUN
arjefm-77	257	36	,	,	PUNCT
arjefm-77	257	37	which	which	PRON
arjefm-77	257	38	runs	run	VERB
arjefm-77	257	39	from	from	ADP
arjefm-77	257	40	1996	1996	NUM
arjefm-77	257	41	to	to	ADP
arjefm-77	257	42	2018	2018	NUM
arjefm-77	257	43	.	.	PUNCT
arjefm-77	258	1	the	the	DET
arjefm-77	258	2	data	data	NOUN
arjefm-77	258	3	comes	come	VERB
arjefm-77	258	4	from	from	ADP
arjefm-77	258	5	multiple	multiple	ADJ
arjefm-77	258	6	sources	source	NOUN
arjefm-77	258	7	,	,	PUNCT
arjefm-77	258	8	including	include	VERB
arjefm-77	258	9	the	the	DET
arjefm-77	258	10	world	world	PROPN
arjefm-77	258	11	bank	bank	PROPN
arjefm-77	258	12	(	(	PUNCT
arjefm-77	258	13	wdi	wdi	PROPN
arjefm-77	258	14	,	,	PUNCT
arjefm-77	258	15	2020	2020	NUM
arjefm-77	258	16	)	)	PUNCT
arjefm-77	258	17	;	;	PUNCT
arjefm-77	258	18	global	global	ADJ
arjefm-77	258	19	financial	financial	PROPN
arjefm-77	258	20	development	development	PROPN
arjefm-77	258	21	data	datum	NOUN
arjefm-77	258	22	(	(	PUNCT
arjefm-77	258	23	gfdd	gfdd	NOUN
arjefm-77	258	24	,	,	PUNCT
arjefm-77	258	25	2020	2020	NUM
arjefm-77	258	26	)	)	PUNCT
arjefm-77	258	27	;	;	PUNCT
arjefm-77	258	28	and	and	CCONJ
arjefm-77	258	29	the	the	DET
arjefm-77	258	30	central	central	ADJ
arjefm-77	258	31	bank	bank	NOUN
arjefm-77	258	32	of	of	ADP
arjefm-77	258	33	west	west	ADJ
arjefm-77	258	34	african	african	ADJ
arjefm-77	258	35	states	state	NOUN
arjefm-77	258	36	(	(	PUNCT
arjefm-77	258	37	bceao	bceao	NOUN
arjefm-77	258	38	,	,	PUNCT
arjefm-77	258	39	2020	2020	NUM
arjefm-77	258	40	)	)	PUNCT
arjefm-77	258	41	.	.	PUNCT
arjefm-77	259	1	5	5	X
arjefm-77	259	2	.	.	NOUN
arjefm-77	259	3	results	result	NOUN
arjefm-77	259	4	and	and	CCONJ
arjefm-77	259	5	discussions	discussion	NOUN
arjefm-77	259	6	of	of	ADP
arjefm-77	259	7	the	the	DET
arjefm-77	259	8	study	study	NOUN
arjefm-77	259	9	this	this	DET
arjefm-77	259	10	section	section	NOUN
arjefm-77	259	11	is	be	AUX
arjefm-77	259	12	structured	structure	VERB
arjefm-77	259	13	around	around	ADP
arjefm-77	259	14	two	two	NUM
arjefm-77	259	15	main	main	ADJ
arjefm-77	259	16	points	point	NOUN
arjefm-77	259	17	.	.	PUNCT
arjefm-77	260	1	the	the	DET
arjefm-77	260	2	first	first	ADJ
arjefm-77	260	3	point	point	NOUN
arjefm-77	260	4	is	be	AUX
arjefm-77	260	5	related	relate	VERB
arjefm-77	260	6	to	to	ADP
arjefm-77	260	7	the	the	DET
arjefm-77	260	8	analysis	analysis	NOUN
arjefm-77	260	9	of	of	ADP
arjefm-77	260	10	the	the	DET
arjefm-77	260	11	data	datum	NOUN
arjefm-77	260	12	,	,	PUNCT
arjefm-77	260	13	and	and	CCONJ
arjefm-77	260	14	the	the	DET
arjefm-77	260	15	preliminary	preliminary	ADJ
arjefm-77	260	16	tests	test	NOUN
arjefm-77	260	17	.	.	PUNCT
arjefm-77	261	1	the	the	DET
arjefm-77	261	2	second	second	ADJ
arjefm-77	261	3	point	point	NOUN
arjefm-77	261	4	is	be	AUX
arjefm-77	261	5	dedicated	dedicate	VERB
arjefm-77	261	6	to	to	ADP
arjefm-77	261	7	the	the	DET
arjefm-77	261	8	analysis	analysis	NOUN
arjefm-77	261	9	of	of	ADP
arjefm-77	261	10	the	the	DET
arjefm-77	261	11	results	result	NOUN
arjefm-77	261	12	obtained	obtain	VERB
arjefm-77	261	13	from	from	ADP
arjefm-77	261	14	the	the	DET
arjefm-77	261	15	pstr	pstr	NOUN
arjefm-77	261	16	model	model	NOUN
arjefm-77	261	17	5.1	5.1	NUM
arjefm-77	261	18	.	.	PUNCT
arjefm-77	262	1	data	datum	NOUN
arjefm-77	262	2	analysis	analysis	NOUN
arjefm-77	262	3	and	and	CCONJ
arjefm-77	262	4	preliminary	preliminary	ADJ
arjefm-77	262	5	tests	test	NOUN
arjefm-77	262	6	in	in	ADP
arjefm-77	262	7	this	this	DET
arjefm-77	262	8	section	section	NOUN
arjefm-77	262	9	,	,	PUNCT
arjefm-77	262	10	we	we	PRON
arjefm-77	262	11	proceed	proceed	VERB
arjefm-77	262	12	to	to	ADP
arjefm-77	262	13	the	the	DET
arjefm-77	262	14	analysis	analysis	NOUN
arjefm-77	262	15	of	of	ADP
arjefm-77	262	16	the	the	DET
arjefm-77	262	17	data	datum	NOUN
arjefm-77	262	18	as	as	ADV
arjefm-77	262	19	well	well	ADV
arjefm-77	262	20	as	as	ADP
arjefm-77	262	21	the	the	DET
arjefm-77	262	22	various	various	ADJ
arjefm-77	262	23	preliminary	preliminary	ADJ
arjefm-77	262	24	tests	test	NOUN
arjefm-77	262	25	.	.	PUNCT
arjefm-77	263	1	these	these	PRON
arjefm-77	263	2	include	include	VERB
arjefm-77	263	3	descriptive	descriptive	ADJ
arjefm-77	263	4	statistics	statistic	NOUN
arjefm-77	263	5	,	,	PUNCT
arjefm-77	263	6	the	the	DET
arjefm-77	263	7	correlation	correlation	NOUN
arjefm-77	263	8	matrix	matrix	NOUN
arjefm-77	263	9	,	,	PUNCT
arjefm-77	263	10	the	the	DET
arjefm-77	263	11	linearity	linearity	NOUN
arjefm-77	263	12	test	test	NOUN
arjefm-77	263	13	,	,	PUNCT
arjefm-77	263	14	and	and	CCONJ
arjefm-77	263	15	the	the	DET
arjefm-77	263	16	determination	determination	NOUN
arjefm-77	263	17	of	of	ADP
arjefm-77	263	18	the	the	DET
arjefm-77	263	19	regime	regime	NOUN
arjefm-77	263	20	number	number	NOUN
arjefm-77	263	21	.	.	PUNCT
arjefm-77	264	1	the	the	DET
arjefm-77	264	2	results	result	NOUN
arjefm-77	264	3	of	of	ADP
arjefm-77	264	4	the	the	DET
arjefm-77	264	5	descriptive	descriptive	ADJ
arjefm-77	264	6	statistics	statistic	NOUN
arjefm-77	264	7	are	be	AUX
arjefm-77	264	8	shown	show	VERB
arjefm-77	264	9	in	in	ADP
arjefm-77	264	10	table	table	NOUN
arjefm-77	264	11	1	1	NUM
arjefm-77	264	12	below	below	ADV
arjefm-77	264	13	:	:	PUNCT
arjefm-77	264	14	table	table	NOUN
arjefm-77	264	15	1	1	NUM
arjefm-77	264	16	:	:	PUNCT
arjefm-77	264	17	descriptive	descriptive	ADJ
arjefm-77	264	18	statistics	statistic	NOUN
arjefm-77	264	19	of	of	ADP
arjefm-77	264	20	variables	variable	NOUN
arjefm-77	264	21	variables	variable	VERB
arjefm-77	264	22	observations	observation	NOUN
arjefm-77	264	23	mean	mean	VERB
arjefm-77	264	24	standard	standard	ADJ
arjefm-77	264	25	deviation	deviation	NOUN
arjefm-77	264	26	minimum	minimum	ADJ
arjefm-77	264	27	maximum	maximum	ADJ
arjefm-77	264	28	rliq	rliq	NOUN
arjefm-77	264	29	161	161	NUM
arjefm-77	264	30	4.387	4.387	NUM
arjefm-77	264	31	1.550	1.550	NUM
arjefm-77	264	32	1.422	1.422	NUM
arjefm-77	264	33	9.186	9.186	NUM
arjefm-77	264	34	car	car	NOUN
arjefm-77	264	35	161	161	NUM
arjefm-77	264	36	9.562	9.562	NUM
arjefm-77	264	37	2.141	2.141	NUM
arjefm-77	264	38	5.637	5.637	NUM
arjefm-77	264	39	17.351	17.351	NUM
arjefm-77	264	40	cap	cap	NOUN
arjefm-77	264	41	161	161	NUM
arjefm-77	264	42	21.171	21.171	NUM
arjefm-77	264	43	11.218	11.218	NUM
arjefm-77	264	44	0.511	0.511	NUM
arjefm-77	264	45	37.826	37.826	NUM
arjefm-77	264	46	cred	cre	VERB
arjefm-77	264	47	161	161	NUM
arjefm-77	264	48	15.588	15.588	NUM
arjefm-77	264	49	7.118	7.118	NUM
arjefm-77	264	50	2.659	2.659	NUM
arjefm-77	264	51	40.055	40.055	NUM
arjefm-77	264	52	cr3	cr3	NOUN
arjefm-77	264	53	161	161	NUM
arjefm-77	264	54	74.785	74.785	NUM
arjefm-77	264	55	16.140	16.140	NUM
arjefm-77	264	56	39.655	39.655	NUM
arjefm-77	264	57	100	100	NUM
arjefm-77	264	58	tcpib	tcpib	ADJ
arjefm-77	264	59	161	161	NUM
arjefm-77	264	60	4.562	4.562	NUM
arjefm-77	264	61	3.108	3.108	NUM
arjefm-77	264	62	-4.666	-4.666	NUM
arjefm-77	264	63	15.376	15.376	NUM
arjefm-77	264	64	inf	inf	NOUN
arjefm-77	264	65	161	161	NUM
arjefm-77	264	66	2.241	2.241	NUM
arjefm-77	264	67	2.557	2.557	NUM
arjefm-77	264	68	-3.099	-3.099	PUNCT
arjefm-77	264	69	11.305	11.305	NUM
arjefm-77	264	70	source	source	NOUN
arjefm-77	264	71	:	:	PUNCT
arjefm-77	264	72	authors	author	NOUN
arjefm-77	264	73	based	base	VERB
arjefm-77	264	74	on	on	ADP
arjefm-77	264	75	wdi	wdi	PROPN
arjefm-77	264	76	(	(	PUNCT
arjefm-77	264	77	2020	2020	NUM
arjefm-77	264	78	)	)	PUNCT
arjefm-77	264	79	,	,	PUNCT
arjefm-77	264	80	gfdd	gfdd	NOUN
arjefm-77	264	81	(	(	PUNCT
arjefm-77	264	82	2020	2020	NUM
arjefm-77	264	83	)	)	PUNCT
arjefm-77	264	84	,	,	PUNCT
arjefm-77	264	85	bceao	bceao	NOUN
arjefm-77	264	86	(	(	PUNCT
arjefm-77	264	87	2020	2020	NUM
arjefm-77	264	88	)	)	PUNCT
arjefm-77	264	89	the	the	DET
arjefm-77	264	90	analysis	analysis	NOUN
arjefm-77	264	91	in	in	ADP
arjefm-77	264	92	table	table	NOUN
arjefm-77	264	93	1	1	NUM
arjefm-77	264	94	shows	show	VERB
arjefm-77	264	95	that	that	SCONJ
arjefm-77	264	96	the	the	DET
arjefm-77	264	97	average	average	ADJ
arjefm-77	264	98	liquidity	liquidity	NOUN
arjefm-77	264	99	risk	risk	NOUN
arjefm-77	264	100	in	in	ADP
arjefm-77	264	101	the	the	DET
arjefm-77	264	102	union	union	NOUN
arjefm-77	264	103	is	be	AUX
arjefm-77	264	104	4.387	4.387	NUM
arjefm-77	264	105	%	%	NOUN
arjefm-77	264	106	.	.	PUNCT
arjefm-77	265	1	over	over	ADP
arjefm-77	265	2	the	the	DET
arjefm-77	265	3	study	study	NOUN
arjefm-77	265	4	period	period	NOUN
arjefm-77	265	5	,	,	PUNCT
arjefm-77	265	6	it	it	PRON
arjefm-77	265	7	varies	vary	VERB
arjefm-77	265	8	between	between	ADP
arjefm-77	265	9	1.422	1.422	NUM
arjefm-77	265	10	%	%	NOUN
arjefm-77	265	11	and	and	CCONJ
arjefm-77	265	12	9.186	9.186	NUM
arjefm-77	265	13	%	%	NOUN
arjefm-77	265	14	.	.	PUNCT
arjefm-77	266	1	the	the	DET
arjefm-77	266	2	low	low	ADJ
arjefm-77	266	3	standard	standard	ADJ
arjefm-77	266	4	deviation	deviation	NOUN
arjefm-77	266	5	of	of	ADP
arjefm-77	266	6	1.550	1.550	NUM
arjefm-77	266	7	indicates	indicate	VERB
arjefm-77	266	8	that	that	SCONJ
arjefm-77	266	9	banks	bank	NOUN
arjefm-77	266	10	have	have	VERB
arjefm-77	266	11	almost	almost	ADV
arjefm-77	266	12	the	the	DET
arjefm-77	266	13	same	same	ADJ
arjefm-77	266	14	risk	risk	NOUN
arjefm-77	266	15	-	-	PUNCT
arjefm-77	266	16	taking	take	VERB
arjefm-77	266	17	behavior	behavior	NOUN
arjefm-77	266	18	regardless	regardless	ADV
arjefm-77	266	19	of	of	ADP
arjefm-77	266	20	the	the	DET
arjefm-77	266	21	country	country	NOUN
arjefm-77	266	22	.	.	PUNCT
arjefm-77	267	1	bank	bank	NOUN
arjefm-77	267	2	capital	capital	NOUN
arjefm-77	267	3	averages	average	VERB
arjefm-77	267	4	9.562	9.562	NUM
arjefm-77	267	5	%	%	NOUN
arjefm-77	267	6	,	,	PUNCT
arjefm-77	267	7	which	which	PRON
arjefm-77	267	8	suggests	suggest	VERB
arjefm-77	267	9	a	a	DET
arjefm-77	267	10	good	good	ADJ
arjefm-77	267	11	level	level	NOUN
arjefm-77	267	12	of	of	ADP
arjefm-77	267	13	capitalization	capitalization	NOUN
arjefm-77	267	14	in	in	ADP
arjefm-77	267	15	line	line	NOUN
arjefm-77	267	16	with	with	ADP
arjefm-77	267	17	the	the	DET
arjefm-77	267	18	bale	bale	NOUN
arjefm-77	267	19	agreements	agreement	NOUN
arjefm-77	267	20	.	.	PUNCT
arjefm-77	268	1	market	market	NOUN
arjefm-77	268	2	capitalization	capitalization	NOUN
arjefm-77	268	3	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	268	4	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	269	1	american	american	PROPN
arjefm-77	269	2	research	research	PROPN
arjefm-77	269	3	journal	journal	PROPN
arjefm-77	269	4	of	of	ADP
arjefm-77	269	5	economics	economic	NOUN
arjefm-77	269	6	,	,	PUNCT
arjefm-77	269	7	finance	finance	NOUN
arjefm-77	269	8	and	and	CCONJ
arjefm-77	269	9	management	management	NOUN
arjefm-77	269	10	volume	volume	NOUN
arjefm-77	269	11	11	11	NUM
arjefm-77	269	12	issue	issue	NOUN
arjefm-77	269	13	1	1	NUM
arjefm-77	269	14	,	,	PUNCT
arjefm-77	269	15	january	january	PROPN
arjefm-77	269	16	-	-	PUNCT
arjefm-77	269	17	march	march	PROPN
arjefm-77	269	18	2023	2023	NUM
arjefm-77	269	19	issn	issn	NOUN
arjefm-77	269	20	:	:	PUNCT
arjefm-77	269	21	2836	2836	NUM
arjefm-77	269	22	-	-	SYM
arjefm-77	269	23	9416	9416	NUM
arjefm-77	269	24	impact	impact	NOUN
arjefm-77	269	25	factor	factor	NOUN
arjefm-77	269	26	:	:	PUNCT
arjefm-77	269	27	5.57	5.57	NUM
arjefm-77	269	28	journal	journal	NOUN
arjefm-77	269	29	homepage	homepage	NOUN
arjefm-77	269	30	:	:	PUNCT
arjefm-77	269	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	269	32	,	,	PUNCT
arjefm-77	269	33	email	email	NOUN
arjefm-77	269	34	:	:	PUNCT
arjefm-77	270	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	270	2	official	official	ADJ
arjefm-77	270	3	journal	journal	PROPN
arjefm-77	270	4	of	of	ADP
arjefm-77	270	5	america	america	PROPN
arjefm-77	270	6	serial	serial	PROPN
arjefm-77	270	7	publication	publication	NOUN
arjefm-77	270	8	american	american	PROPN
arjefm-77	270	9	research	research	PROPN
arjefm-77	270	10	journal	journal	PROPN
arjefm-77	270	11	of	of	ADP
arjefm-77	270	12	economics	economic	NOUN
arjefm-77	270	13	,	,	PUNCT
arjefm-77	270	14	finance	finance	NOUN
arjefm-77	270	15	and	and	CCONJ
arjefm-77	270	16	management	management	NOUN
arjefm-77	270	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	270	18	,	,	PUNCT
arjefm-77	270	19	email	email	NOUN
arjefm-77	270	20	:	:	PUNCT
arjefm-77	270	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	271	1	41	41	NUM
arjefm-77	272	1	|	|	ADV
arjefm-77	272	2	p	p	ADP
arjefm-77	272	3	a	a	DET
arjefm-77	272	4	g	g	NOUN
arjefm-77	272	5	e	e	NOUN
arjefm-77	272	6	represents	represent	VERB
arjefm-77	272	7	on	on	ADP
arjefm-77	272	8	average	average	ADJ
arjefm-77	272	9	21.17	21.17	NUM
arjefm-77	272	10	%	%	NOUN
arjefm-77	272	11	of	of	ADP
arjefm-77	272	12	gdp	gdp	NOUN
arjefm-77	272	13	with	with	ADP
arjefm-77	272	14	a	a	DET
arjefm-77	272	15	dispersion	dispersion	NOUN
arjefm-77	272	16	of	of	ADP
arjefm-77	272	17	about	about	ADP
arjefm-77	272	18	11.21	11.21	NUM
arjefm-77	272	19	.	.	PUNCT
arjefm-77	273	1	the	the	DET
arjefm-77	273	2	credit	credit	NOUN
arjefm-77	273	3	granted	grant	VERB
arjefm-77	273	4	by	by	ADP
arjefm-77	273	5	banks	bank	NOUN
arjefm-77	273	6	,	,	PUNCT
arjefm-77	273	7	is	be	AUX
arjefm-77	273	8	,	,	PUNCT
arjefm-77	273	9	on	on	ADP
arjefm-77	273	10	average	average	ADJ
arjefm-77	273	11	15.58	15.58	NUM
arjefm-77	273	12	%	%	NOUN
arjefm-77	273	13	between	between	ADP
arjefm-77	273	14	1996	1996	NUM
arjefm-77	273	15	and	and	CCONJ
arjefm-77	273	16	2018	2018	NUM
arjefm-77	273	17	.	.	PUNCT
arjefm-77	274	1	its	its	PRON
arjefm-77	274	2	minimum	minimum	ADJ
arjefm-77	274	3	and	and	CCONJ
arjefm-77	274	4	maximum	maximum	ADJ
arjefm-77	274	5	values	value	NOUN
arjefm-77	274	6	are	be	AUX
arjefm-77	274	7	2.65	2.65	NUM
arjefm-77	274	8	%	%	NOUN
arjefm-77	274	9	and	and	CCONJ
arjefm-77	274	10	40.05	40.05	NUM
arjefm-77	274	11	%	%	NOUN
arjefm-77	274	12	respectively	respectively	ADV
arjefm-77	274	13	.	.	PUNCT
arjefm-77	275	1	in	in	ADP
arjefm-77	275	2	the	the	DET
arjefm-77	275	3	subregion	subregion	NOUN
arjefm-77	275	4	,	,	PUNCT
arjefm-77	275	5	the	the	DET
arjefm-77	275	6	three	three	NUM
arjefm-77	275	7	major	major	ADJ
arjefm-77	275	8	banks	bank	NOUN
arjefm-77	275	9	hold	hold	VERB
arjefm-77	275	10	an	an	DET
arjefm-77	275	11	average	average	NOUN
arjefm-77	275	12	of	of	ADP
arjefm-77	275	13	74.78	74.78	NUM
arjefm-77	275	14	%	%	NOUN
arjefm-77	275	15	of	of	ADP
arjefm-77	275	16	banking	banking	NOUN
arjefm-77	275	17	assets	asset	NOUN
arjefm-77	275	18	,	,	PUNCT
arjefm-77	275	19	indicating	indicate	VERB
arjefm-77	275	20	that	that	SCONJ
arjefm-77	275	21	the	the	DET
arjefm-77	275	22	banking	banking	NOUN
arjefm-77	275	23	sector	sector	NOUN
arjefm-77	275	24	is	be	AUX
arjefm-77	275	25	highly	highly	ADV
arjefm-77	275	26	concentrated	concentrated	ADJ
arjefm-77	275	27	in	in	ADP
arjefm-77	275	28	the	the	DET
arjefm-77	275	29	union	union	NOUN
arjefm-77	275	30	.	.	PUNCT
arjefm-77	276	1	over	over	ADP
arjefm-77	276	2	the	the	DET
arjefm-77	276	3	study	study	NOUN
arjefm-77	276	4	period	period	NOUN
arjefm-77	276	5	,	,	PUNCT
arjefm-77	276	6	the	the	DET
arjefm-77	276	7	countries	country	NOUN
arjefm-77	276	8	benefited	benefit	VERB
arjefm-77	276	9	from	from	ADP
arjefm-77	276	10	a	a	DET
arjefm-77	276	11	rather	rather	ADV
arjefm-77	276	12	favorable	favorable	ADJ
arjefm-77	276	13	macroeconomic	macroeconomic	ADJ
arjefm-77	276	14	context	context	NOUN
arjefm-77	276	15	,	,	PUNCT
arjefm-77	276	16	as	as	SCONJ
arjefm-77	276	17	the	the	DET
arjefm-77	276	18	average	average	ADJ
arjefm-77	276	19	growth	growth	NOUN
arjefm-77	276	20	rate	rate	NOUN
arjefm-77	276	21	of	of	ADP
arjefm-77	276	22	the	the	DET
arjefm-77	276	23	gross	gross	ADJ
arjefm-77	276	24	domestic	domestic	ADJ
arjefm-77	276	25	product	product	NOUN
arjefm-77	276	26	stood	stand	VERB
arjefm-77	276	27	at	at	ADP
arjefm-77	276	28	4.56	4.56	NUM
arjefm-77	276	29	%	%	NOUN
arjefm-77	276	30	.	.	PUNCT
arjefm-77	277	1	inflation	inflation	NOUN
arjefm-77	277	2	averaged	average	VERB
arjefm-77	277	3	2.24	2.24	NUM
arjefm-77	277	4	.	.	PUNCT
arjefm-77	278	1	the	the	DET
arjefm-77	278	2	low	low	ADJ
arjefm-77	278	3	dispersion	dispersion	NOUN
arjefm-77	278	4	of	of	ADP
arjefm-77	278	5	2.55	2.55	NUM
arjefm-77	278	6	shows	show	VERB
arjefm-77	278	7	that	that	SCONJ
arjefm-77	278	8	,	,	PUNCT
arjefm-77	278	9	overall	overall	ADV
arjefm-77	278	10	,	,	PUNCT
arjefm-77	278	11	the	the	DET
arjefm-77	278	12	general	general	ADJ
arjefm-77	278	13	price	price	NOUN
arjefm-77	278	14	level	level	NOUN
arjefm-77	278	15	in	in	ADP
arjefm-77	278	16	the	the	DET
arjefm-77	278	17	union	union	NOUN
arjefm-77	278	18	has	have	AUX
arjefm-77	278	19	varied	vary	VERB
arjefm-77	278	20	very	very	ADV
arjefm-77	278	21	little	little	ADJ
arjefm-77	278	22	.	.	PUNCT
arjefm-77	279	1	following	follow	VERB
arjefm-77	279	2	the	the	DET
arjefm-77	279	3	descriptive	descriptive	ADJ
arjefm-77	279	4	statistics	statistic	NOUN
arjefm-77	279	5	,	,	PUNCT
arjefm-77	279	6	we	we	PRON
arjefm-77	279	7	perform	perform	VERB
arjefm-77	279	8	the	the	DET
arjefm-77	279	9	correlation	correlation	NOUN
arjefm-77	279	10	matrix	matrix	NOUN
arjefm-77	279	11	analysis	analysis	NOUN
arjefm-77	279	12	of	of	ADP
arjefm-77	279	13	the	the	DET
arjefm-77	279	14	variables	variable	NOUN
arjefm-77	279	15	to	to	PART
arjefm-77	279	16	guard	guard	VERB
arjefm-77	279	17	against	against	ADP
arjefm-77	279	18	the	the	DET
arjefm-77	279	19	risk	risk	NOUN
arjefm-77	279	20	of	of	ADP
arjefm-77	279	21	multicollinearity	multicollinearity	NOUN
arjefm-77	279	22	.	.	PUNCT
arjefm-77	280	1	the	the	DET
arjefm-77	280	2	results	result	NOUN
arjefm-77	280	3	of	of	ADP
arjefm-77	280	4	the	the	DET
arjefm-77	280	5	matrix	matrix	NOUN
arjefm-77	280	6	are	be	AUX
arjefm-77	280	7	reported	report	VERB
arjefm-77	280	8	in	in	ADP
arjefm-77	280	9	table	table	NOUN
arjefm-77	280	10	2	2	NUM
arjefm-77	280	11	below	below	ADV
arjefm-77	280	12	.	.	PUNCT
arjefm-77	281	1	table	table	NOUN
arjefm-77	281	2	2	2	NUM
arjefm-77	281	3	:	:	PUNCT
arjefm-77	281	4	correlation	correlation	NOUN
arjefm-77	281	5	matrix	matrix	NOUN
arjefm-77	282	1	[	[	X
arjefm-77	282	2	1	1	X
arjefm-77	282	3	]	]	X
arjefm-77	282	4	[	[	X
arjefm-77	282	5	2	2	X
arjefm-77	282	6	]	]	X
arjefm-77	282	7	[	[	X
arjefm-77	282	8	3	3	X
arjefm-77	282	9	]	]	X
arjefm-77	282	10	[	[	X
arjefm-77	282	11	4	4	X
arjefm-77	282	12	]	]	X
arjefm-77	282	13	[	[	X
arjefm-77	282	14	5	5	NUM
arjefm-77	282	15	]	]	X
arjefm-77	282	16	[	[	X
arjefm-77	282	17	6	6	NUM
arjefm-77	282	18	]	]	X
arjefm-77	282	19	[	[	X
arjefm-77	282	20	7	7	X
arjefm-77	282	21	]	]	X
arjefm-77	282	22	[	[	X
arjefm-77	282	23	1	1	NUM
arjefm-77	282	24	]	]	PUNCT
arjefm-77	282	25	rliq	rliq	NOUN
arjefm-77	282	26	1	1	NUM
arjefm-77	283	1	[	[	X
arjefm-77	283	2	2	2	NUM
arjefm-77	283	3	]	]	PUNCT
arjefm-77	283	4	car	car	NOUN
arjefm-77	283	5	-0.410	-0.410	NOUN
arjefm-77	283	6	*	*	NOUN
arjefm-77	283	7	1	1	NUM
arjefm-77	283	8	[	[	X
arjefm-77	283	9	3	3	NUM
arjefm-77	283	10	]	]	PUNCT
arjefm-77	283	11	cap	cap	NOUN
arjefm-77	283	12	0.419	0.419	NUM
arjefm-77	283	13	*	*	PUNCT
arjefm-77	283	14	-0.158	-0.158	PUNCT
arjefm-77	284	1	*	*	SYM
arjefm-77	284	2	1	1	NUM
arjefm-77	284	3	[	[	X
arjefm-77	284	4	4	4	X
arjefm-77	284	5	]	]	PUNCT
arjefm-77	284	6	cred	cre	VERB
arjefm-77	284	7	0.576	0.576	NUM
arjefm-77	284	8	*	*	PUNCT
arjefm-77	285	1	-0.420	-0.420	PUNCT
arjefm-77	285	2	*	*	PUNCT
arjefm-77	285	3	0.587	0.587	NUM
arjefm-77	285	4	*	*	SYM
arjefm-77	285	5	1	1	NUM
arjefm-77	285	6	[	[	X
arjefm-77	285	7	5	5	NUM
arjefm-77	285	8	]	]	PUNCT
arjefm-77	285	9	cr3	cr3	NOUN
arjefm-77	285	10	-0.395	-0.395	PROPN
arjefm-77	285	11	*	*	NOUN
arjefm-77	285	12	0.171	0.171	NUM
arjefm-77	285	13	*	*	PUNCT
arjefm-77	286	1	-0.311	-0.311	NOUN
arjefm-77	286	2	*	*	NOUN
arjefm-77	286	3	0.262	0.262	NUM
arjefm-77	286	4	*	*	SYM
arjefm-77	286	5	1	1	NUM
arjefm-77	286	6	[	[	X
arjefm-77	286	7	6	6	NUM
arjefm-77	286	8	]	]	PUNCT
arjefm-77	286	9	tcpib	tcpib	ADJ
arjefm-77	286	10	0.241	0.241	NUM
arjefm-77	286	11	*	*	PUNCT
arjefm-77	286	12	-0.183	-0.183	PROPN
arjefm-77	286	13	*	*	NOUN
arjefm-77	286	14	0.135	0.135	NUM
arjefm-77	286	15	0.103	0.103	NUM
arjefm-77	286	16	-0.109	-0.109	NUM
arjefm-77	286	17	1	1	NUM
arjefm-77	287	1	[	[	X
arjefm-77	287	2	7	7	NUM
arjefm-77	287	3	]	]	X
arjefm-77	287	4	inf	inf	NOUN
arjefm-77	287	5	-0.191	-0.191	NOUN
arjefm-77	287	6	*	*	PROPN
arjefm-77	287	7	0.095	0.095	NUM
arjefm-77	287	8	-0.156	-0.156	PROPN
arjefm-77	287	9	*	*	PUNCT
arjefm-77	287	10	-0.199	-0.199	NOUN
arjefm-77	287	11	0.190	0.190	NUM
arjefm-77	287	12	*	*	SYM
arjefm-77	287	13	0.069	0.069	NUM
arjefm-77	287	14	1	1	NUM
arjefm-77	287	15	source	source	NOUN
arjefm-77	287	16	:	:	PUNCT
arjefm-77	287	17	authors	author	NOUN
arjefm-77	287	18	based	base	VERB
arjefm-77	287	19	on	on	ADP
arjefm-77	287	20	wdi	wdi	PROPN
arjefm-77	287	21	(	(	PUNCT
arjefm-77	287	22	2020	2020	NUM
arjefm-77	287	23	)	)	PUNCT
arjefm-77	287	24	,	,	PUNCT
arjefm-77	287	25	gfdd	gfdd	NOUN
arjefm-77	287	26	(	(	PUNCT
arjefm-77	287	27	2020	2020	NUM
arjefm-77	287	28	)	)	PUNCT
arjefm-77	287	29	,	,	PUNCT
arjefm-77	287	30	bceao	bceao	NOUN
arjefm-77	287	31	(	(	PUNCT
arjefm-77	287	32	2020	2020	NUM
arjefm-77	287	33	)	)	PUNCT
arjefm-77	287	34	note	note	NOUN
arjefm-77	287	35	:	:	PUNCT
arjefm-77	287	36	*	*	PUNCT
arjefm-77	287	37	represents	represent	VERB
arjefm-77	287	38	significance	significance	NOUN
arjefm-77	287	39	at	at	ADP
arjefm-77	287	40	the	the	DET
arjefm-77	287	41	5	5	NUM
arjefm-77	287	42	%	%	NOUN
arjefm-77	287	43	level	level	NOUN
arjefm-77	287	44	from	from	ADP
arjefm-77	287	45	the	the	DET
arjefm-77	287	46	results	result	NOUN
arjefm-77	287	47	provided	provide	VERB
arjefm-77	287	48	in	in	ADP
arjefm-77	287	49	table	table	NOUN
arjefm-77	287	50	2	2	NUM
arjefm-77	287	51	,	,	PUNCT
arjefm-77	287	52	we	we	PRON
arjefm-77	287	53	see	see	VERB
arjefm-77	287	54	that	that	SCONJ
arjefm-77	287	55	all	all	DET
arjefm-77	287	56	the	the	DET
arjefm-77	287	57	correlation	correlation	NOUN
arjefm-77	287	58	coefficients	coefficient	NOUN
arjefm-77	287	59	are	be	AUX
arjefm-77	287	60	on	on	ADP
arjefm-77	287	61	the	the	DET
arjefm-77	287	62	whole	whole	ADJ
arjefm-77	287	63	lower	low	ADJ
arjefm-77	287	64	than	than	ADP
arjefm-77	287	65	0.8	0.8	NUM
arjefm-77	287	66	.	.	PUNCT
arjefm-77	288	1	thus	thus	ADV
arjefm-77	288	2	,	,	PUNCT
arjefm-77	288	3	there	there	PRON
arjefm-77	288	4	is	be	VERB
arjefm-77	288	5	no	no	DET
arjefm-77	288	6	problem	problem	NOUN
arjefm-77	288	7	of	of	ADP
arjefm-77	288	8	multicollinearity	multicollinearity	NOUN
arjefm-77	288	9	between	between	ADP
arjefm-77	288	10	our	our	PRON
arjefm-77	288	11	variables	variable	NOUN
arjefm-77	288	12	.	.	PUNCT
arjefm-77	289	1	bank	bank	NOUN
arjefm-77	289	2	capital	capital	NOUN
arjefm-77	289	3	is	be	AUX
arjefm-77	289	4	negatively	negatively	ADV
arjefm-77	289	5	correlated	correlate	VERB
arjefm-77	289	6	with	with	ADP
arjefm-77	289	7	liquidity	liquidity	NOUN
arjefm-77	289	8	risk	risk	NOUN
arjefm-77	289	9	with	with	ADP
arjefm-77	289	10	a	a	DET
arjefm-77	289	11	coefficient	coefficient	NOUN
arjefm-77	289	12	of	of	ADP
arjefm-77	289	13	0.410	0.410	NUM
arjefm-77	289	14	.	.	PUNCT
arjefm-77	290	1	on	on	ADP
arjefm-77	290	2	the	the	DET
arjefm-77	290	3	other	other	ADJ
arjefm-77	290	4	hand	hand	NOUN
arjefm-77	290	5	,	,	PUNCT
arjefm-77	290	6	we	we	PRON
arjefm-77	290	7	observe	observe	VERB
arjefm-77	290	8	a	a	DET
arjefm-77	290	9	moderate	moderate	ADJ
arjefm-77	290	10	correlation	correlation	NOUN
arjefm-77	290	11	between	between	ADP
arjefm-77	290	12	market	market	NOUN
arjefm-77	290	13	capitalization	capitalization	NOUN
arjefm-77	290	14	and	and	CCONJ
arjefm-77	290	15	liquidity	liquidity	NOUN
arjefm-77	290	16	risk	risk	NOUN
arjefm-77	290	17	on	on	ADP
arjefm-77	290	18	the	the	DET
arjefm-77	290	19	one	one	NUM
arjefm-77	290	20	hand	hand	NOUN
arjefm-77	290	21	,	,	PUNCT
arjefm-77	290	22	and	and	CCONJ
arjefm-77	290	23	between	between	ADP
arjefm-77	290	24	credit	credit	NOUN
arjefm-77	290	25	and	and	CCONJ
arjefm-77	290	26	liquidity	liquidity	NOUN
arjefm-77	290	27	risk	risk	NOUN
arjefm-77	290	28	on	on	ADP
arjefm-77	290	29	the	the	DET
arjefm-77	290	30	other	other	ADJ
arjefm-77	290	31	.	.	PUNCT
arjefm-77	291	1	their	their	PRON
arjefm-77	291	2	respective	respective	ADJ
arjefm-77	291	3	coefficients	coefficient	NOUN
arjefm-77	291	4	are	be	AUX
arjefm-77	291	5	0.419	0.419	NUM
arjefm-77	291	6	and	and	CCONJ
arjefm-77	291	7	0.576	0.576	NUM
arjefm-77	291	8	.	.	PUNCT
arjefm-77	292	1	as	as	ADP
arjefm-77	292	2	for	for	ADP
arjefm-77	292	3	the	the	DET
arjefm-77	292	4	growth	growth	NOUN
arjefm-77	292	5	rate	rate	NOUN
arjefm-77	292	6	,	,	PUNCT
arjefm-77	292	7	it	it	PRON
arjefm-77	292	8	is	be	AUX
arjefm-77	292	9	weakly	weakly	ADV
arjefm-77	292	10	related	related	ADJ
arjefm-77	292	11	to	to	ADP
arjefm-77	292	12	liquidity	liquidity	NOUN
arjefm-77	292	13	risk	risk	NOUN
arjefm-77	292	14	.	.	PUNCT
arjefm-77	293	1	the	the	DET
arjefm-77	293	2	associated	associated	ADJ
arjefm-77	293	3	correlation	correlation	NOUN
arjefm-77	293	4	coefficient	coefficient	NOUN
arjefm-77	293	5	is	be	AUX
arjefm-77	293	6	0.241	0.241	NUM
arjefm-77	293	7	.	.	PUNCT
arjefm-77	294	1	the	the	DET
arjefm-77	294	2	same	same	ADJ
arjefm-77	294	3	is	be	AUX
arjefm-77	294	4	true	true	ADJ
arjefm-77	294	5	for	for	ADP
arjefm-77	294	6	inflation	inflation	NOUN
arjefm-77	294	7	,	,	PUNCT
arjefm-77	294	8	which	which	PRON
arjefm-77	294	9	has	have	VERB
arjefm-77	294	10	a	a	DET
arjefm-77	294	11	correlation	correlation	NOUN
arjefm-77	294	12	coefficient	coefficient	NOUN
arjefm-77	294	13	of	of	ADP
arjefm-77	294	14	0.191	0.191	NUM
arjefm-77	294	15	.	.	PUNCT
arjefm-77	295	1	after	after	ADP
arjefm-77	295	2	the	the	DET
arjefm-77	295	3	analysis	analysis	NOUN
arjefm-77	295	4	of	of	ADP
arjefm-77	295	5	the	the	DET
arjefm-77	295	6	data	datum	NOUN
arjefm-77	295	7	,	,	PUNCT
arjefm-77	295	8	we	we	PRON
arjefm-77	295	9	can	can	AUX
arjefm-77	295	10	now	now	ADV
arjefm-77	295	11	turn	turn	VERB
arjefm-77	295	12	to	to	ADP
arjefm-77	295	13	the	the	DET
arjefm-77	295	14	second	second	ADJ
arjefm-77	295	15	point	point	NOUN
arjefm-77	295	16	concerning	concern	VERB
arjefm-77	295	17	the	the	DET
arjefm-77	295	18	results	result	NOUN
arjefm-77	295	19	of	of	ADP
arjefm-77	295	20	the	the	DET
arjefm-77	295	21	preliminary	preliminary	ADJ
arjefm-77	295	22	tests	test	NOUN
arjefm-77	295	23	.	.	PUNCT
arjefm-77	296	1	these	these	PRON
arjefm-77	296	2	are	be	AUX
arjefm-77	296	3	mainly	mainly	ADV
arjefm-77	296	4	the	the	DET
arjefm-77	296	5	linearity	linearity	NOUN
arjefm-77	296	6	test	test	NOUN
arjefm-77	296	7	and	and	CCONJ
arjefm-77	296	8	the	the	DET
arjefm-77	296	9	regime	regime	NOUN
arjefm-77	296	10	number	number	NOUN
arjefm-77	296	11	test	test	NOUN
arjefm-77	296	12	.	.	PUNCT
arjefm-77	297	1	the	the	DET
arjefm-77	297	2	linearity	linearity	NOUN
arjefm-77	297	3	test	test	NOUN
arjefm-77	297	4	consists	consist	VERB
arjefm-77	297	5	of	of	ADP
arjefm-77	297	6	testing	test	VERB
arjefm-77	297	7	whether	whether	SCONJ
arjefm-77	297	8	the	the	DET
arjefm-77	297	9	relationship	relationship	NOUN
arjefm-77	297	10	between	between	ADP
arjefm-77	297	11	bank	bank	NOUN
arjefm-77	297	12	capital	capital	NOUN
arjefm-77	297	13	and	and	CCONJ
arjefm-77	297	14	liquidity	liquidity	NOUN
arjefm-77	297	15	risk	risk	NOUN
arjefm-77	297	16	can	can	AUX
arjefm-77	297	17	be	be	AUX
arjefm-77	297	18	captured	capture	VERB
arjefm-77	297	19	by	by	ADP
arjefm-77	297	20	a	a	DET
arjefm-77	297	21	linear	linear	ADJ
arjefm-77	297	22	panel	panel	NOUN
arjefm-77	297	23	model	model	NOUN
arjefm-77	297	24	or	or	CCONJ
arjefm-77	297	25	by	by	ADP
arjefm-77	297	26	a	a	DET
arjefm-77	297	27	non	non	ADJ
arjefm-77	297	28	-	-	ADJ
arjefm-77	297	29	linear	linear	ADJ
arjefm-77	297	30	panel	panel	NOUN
arjefm-77	297	31	model	model	NOUN
arjefm-77	297	32	.	.	PUNCT
arjefm-77	298	1	the	the	DET
arjefm-77	298	2	results	result	NOUN
arjefm-77	298	3	of	of	ADP
arjefm-77	298	4	the	the	DET
arjefm-77	298	5	linearity	linearity	NOUN
arjefm-77	298	6	test	test	NOUN
arjefm-77	298	7	are	be	AUX
arjefm-77	298	8	summarized	summarize	VERB
arjefm-77	298	9	in	in	ADP
arjefm-77	298	10	the	the	DET
arjefm-77	298	11	following	follow	VERB
arjefm-77	298	12	table	table	NOUN
arjefm-77	298	13	:	:	PUNCT
arjefm-77	298	14	table	table	NOUN
arjefm-77	298	15	3	3	NUM
arjefm-77	298	16	:	:	PUNCT
arjefm-77	298	17	linearity	linearity	NOUN
arjefm-77	298	18	test	test	NOUN
arjefm-77	298	19	test	test	NOUN
arjefm-77	298	20	statistics	statistic	NOUN
arjefm-77	298	21	p	p	NOUN
arjefm-77	298	22	-	-	PUNCT
arjefm-77	298	23	value	value	NOUN
arjefm-77	298	24	wald	wald	X
arjefm-77	298	25	(	(	PUNCT
arjefm-77	298	26	lmw	lmw	ADJ
arjefm-77	298	27	)	)	PUNCT
arjefm-77	298	28	test	test	NOUN
arjefm-77	298	29	10.777	10.777	NUM
arjefm-77	298	30	0.096	0.096	NUM
arjefm-77	298	31	fischer	fischer	NOUN
arjefm-77	298	32	(	(	PUNCT
arjefm-77	298	33	lmf	lmf	PROPN
arjefm-77	298	34	)	)	PUNCT
arjefm-77	298	35	test	test	NOUN
arjefm-77	298	36	1.770	1.770	NUM
arjefm-77	298	37	0.109	0.109	NUM
arjefm-77	298	38	lrt	lrt	PROPN
arjefm-77	298	39	test	test	NOUN
arjefm-77	298	40	11.155	11.155	NUM
arjefm-77	298	41	0.084	0.084	NUM
arjefm-77	298	42	source	source	NOUN
arjefm-77	298	43	:	:	PUNCT
arjefm-77	298	44	authors	author	NOUN
arjefm-77	298	45	based	base	VERB
arjefm-77	298	46	on	on	ADP
arjefm-77	298	47	wdi	wdi	PROPN
arjefm-77	298	48	(	(	PUNCT
arjefm-77	298	49	2020	2020	NUM
arjefm-77	298	50	)	)	PUNCT
arjefm-77	298	51	,	,	PUNCT
arjefm-77	298	52	gfdd	gfdd	NOUN
arjefm-77	298	53	(	(	PUNCT
arjefm-77	298	54	2020	2020	NUM
arjefm-77	298	55	)	)	PUNCT
arjefm-77	298	56	,	,	PUNCT
arjefm-77	298	57	bceao	bceao	NOUN
arjefm-77	298	58	(	(	PUNCT
arjefm-77	298	59	2020	2020	NUM
arjefm-77	298	60	)	)	PUNCT
arjefm-77	298	61	the	the	DET
arjefm-77	298	62	null	null	ADJ
arjefm-77	298	63	hypothesis	hypothesis	NOUN
arjefm-77	298	64	that	that	PRON
arjefm-77	298	65	the	the	DET
arjefm-77	298	66	linear	linear	PROPN
arjefm-77	298	67	panel	panel	NOUN
arjefm-77	298	68	model	model	NOUN
arjefm-77	298	69	is	be	AUX
arjefm-77	298	70	appropriate	appropriate	ADJ
arjefm-77	298	71	for	for	ADP
arjefm-77	298	72	analyzing	analyze	VERB
arjefm-77	298	73	the	the	DET
arjefm-77	298	74	relationship	relationship	NOUN
arjefm-77	298	75	between	between	ADP
arjefm-77	298	76	bank	bank	NOUN
arjefm-77	298	77	capital	capital	NOUN
arjefm-77	298	78	and	and	CCONJ
arjefm-77	298	79	liquidity	liquidity	NOUN
arjefm-77	298	80	risk	risk	NOUN
arjefm-77	298	81	is	be	AUX
arjefm-77	298	82	rejected	reject	VERB
arjefm-77	298	83	at	at	ADP
arjefm-77	298	84	the	the	DET
arjefm-77	298	85	10	10	NUM
arjefm-77	298	86	%	%	NOUN
arjefm-77	298	87	threshold	threshold	NOUN
arjefm-77	298	88	by	by	ADP
arjefm-77	298	89	two	two	NUM
arjefm-77	298	90	out	out	ADP
arjefm-77	298	91	of	of	ADP
arjefm-77	298	92	three	three	NUM
arjefm-77	298	93	tests	test	NOUN
arjefm-77	298	94	.	.	PUNCT
arjefm-77	299	1	it	it	PRON
arjefm-77	299	2	follows	follow	VERB
arjefm-77	299	3	that	that	SCONJ
arjefm-77	299	4	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	299	5	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	299	6	american	american	PROPN
arjefm-77	299	7	research	research	PROPN
arjefm-77	299	8	journal	journal	PROPN
arjefm-77	299	9	of	of	ADP
arjefm-77	299	10	economics	economic	NOUN
arjefm-77	299	11	,	,	PUNCT
arjefm-77	299	12	finance	finance	NOUN
arjefm-77	299	13	and	and	CCONJ
arjefm-77	299	14	management	management	NOUN
arjefm-77	299	15	volume	volume	NOUN
arjefm-77	299	16	11	11	NUM
arjefm-77	299	17	issue	issue	NOUN
arjefm-77	299	18	1	1	NUM
arjefm-77	299	19	,	,	PUNCT
arjefm-77	299	20	january	january	PROPN
arjefm-77	299	21	-	-	PUNCT
arjefm-77	299	22	march	march	PROPN
arjefm-77	299	23	2023	2023	NUM
arjefm-77	299	24	issn	issn	NOUN
arjefm-77	299	25	:	:	PUNCT
arjefm-77	299	26	2836	2836	NUM
arjefm-77	299	27	-	-	SYM
arjefm-77	299	28	9416	9416	NUM
arjefm-77	299	29	impact	impact	NOUN
arjefm-77	299	30	factor	factor	NOUN
arjefm-77	299	31	:	:	PUNCT
arjefm-77	299	32	5.57	5.57	NUM
arjefm-77	299	33	journal	journal	NOUN
arjefm-77	299	34	homepage	homepage	NOUN
arjefm-77	299	35	:	:	PUNCT
arjefm-77	299	36	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	299	37	,	,	PUNCT
arjefm-77	299	38	email	email	NOUN
arjefm-77	299	39	:	:	PUNCT
arjefm-77	299	40	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	299	41	official	official	ADJ
arjefm-77	299	42	journal	journal	PROPN
arjefm-77	299	43	of	of	ADP
arjefm-77	299	44	america	america	PROPN
arjefm-77	299	45	serial	serial	PROPN
arjefm-77	299	46	publication	publication	NOUN
arjefm-77	299	47	american	american	PROPN
arjefm-77	299	48	research	research	PROPN
arjefm-77	299	49	journal	journal	PROPN
arjefm-77	299	50	of	of	ADP
arjefm-77	299	51	economics	economic	NOUN
arjefm-77	299	52	,	,	PUNCT
arjefm-77	299	53	finance	finance	NOUN
arjefm-77	299	54	and	and	CCONJ
arjefm-77	299	55	management	management	NOUN
arjefm-77	299	56	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	299	57	,	,	PUNCT
arjefm-77	299	58	email	email	NOUN
arjefm-77	299	59	:	:	PUNCT
arjefm-77	299	60	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	300	1	42	42	NUM
arjefm-77	301	1	|	|	ADV
arjefm-77	301	2	p	p	X
arjefm-77	301	3	a	a	DET
arjefm-77	301	4	g	g	NOUN
arjefm-77	301	5	e	e	NOUN
arjefm-77	301	6	the	the	DET
arjefm-77	301	7	financial	financial	ADJ
arjefm-77	301	8	market	market	NOUN
arjefm-77	301	9	has	have	VERB
arjefm-77	301	10	a	a	DET
arjefm-77	301	11	non	non	ADJ
arjefm-77	301	12	-	-	ADJ
arjefm-77	301	13	linear	linear	ADJ
arjefm-77	301	14	effect	effect	NOUN
arjefm-77	301	15	on	on	ADP
arjefm-77	301	16	the	the	DET
arjefm-77	301	17	relationship	relationship	NOUN
arjefm-77	301	18	between	between	ADP
arjefm-77	301	19	bank	bank	NOUN
arjefm-77	301	20	capital	capital	NOUN
arjefm-77	301	21	and	and	CCONJ
arjefm-77	301	22	liquidity	liquidity	NOUN
arjefm-77	301	23	risk	risk	NOUN
arjefm-77	301	24	and	and	CCONJ
arjefm-77	301	25	that	that	SCONJ
arjefm-77	301	26	this	this	DET
arjefm-77	301	27	non	non	ADJ
arjefm-77	301	28	-	-	ADJ
arjefm-77	301	29	linear	linear	ADJ
arjefm-77	301	30	effect	effect	NOUN
arjefm-77	301	31	can	can	AUX
arjefm-77	301	32	be	be	AUX
arjefm-77	301	33	captured	capture	VERB
arjefm-77	301	34	by	by	ADP
arjefm-77	301	35	a	a	DET
arjefm-77	301	36	pstr	pstr	NOUN
arjefm-77	301	37	model	model	NOUN
arjefm-77	301	38	with	with	ADP
arjefm-77	301	39	at	at	ADV
arjefm-77	301	40	least	least	ADV
arjefm-77	301	41	two	two	NUM
arjefm-77	301	42	regimes	regime	NOUN
arjefm-77	301	43	.	.	PUNCT
arjefm-77	302	1	the	the	DET
arjefm-77	302	2	second	second	ADJ
arjefm-77	302	3	test	test	NOUN
arjefm-77	302	4	is	be	AUX
arjefm-77	302	5	related	relate	VERB
arjefm-77	302	6	to	to	ADP
arjefm-77	302	7	the	the	DET
arjefm-77	302	8	determination	determination	NOUN
arjefm-77	302	9	of	of	ADP
arjefm-77	302	10	the	the	DET
arjefm-77	302	11	number	number	NOUN
arjefm-77	302	12	of	of	ADP
arjefm-77	302	13	regimes	regime	NOUN
arjefm-77	302	14	of	of	ADP
arjefm-77	302	15	the	the	DET
arjefm-77	302	16	pstr	pstr	NOUN
arjefm-77	302	17	model	model	NOUN
arjefm-77	302	18	.	.	PUNCT
arjefm-77	303	1	this	this	DET
arjefm-77	303	2	test	test	NOUN
arjefm-77	303	3	consists	consist	VERB
arjefm-77	303	4	of	of	ADP
arjefm-77	303	5	testing	test	VERB
arjefm-77	303	6	whether	whether	SCONJ
arjefm-77	303	7	the	the	DET
arjefm-77	303	8	relationship	relationship	NOUN
arjefm-77	303	9	between	between	ADP
arjefm-77	303	10	bank	bank	NOUN
arjefm-77	303	11	capital	capital	NOUN
arjefm-77	303	12	and	and	CCONJ
arjefm-77	303	13	liquidity	liquidity	NOUN
arjefm-77	303	14	risk	risk	NOUN
arjefm-77	303	15	can	can	AUX
arjefm-77	303	16	be	be	AUX
arjefm-77	303	17	estimated	estimate	VERB
arjefm-77	303	18	by	by	ADP
arjefm-77	303	19	a	a	DET
arjefm-77	303	20	pstr	pstr	NOUN
arjefm-77	303	21	model	model	NOUN
arjefm-77	303	22	with	with	ADP
arjefm-77	303	23	two	two	NUM
arjefm-77	303	24	regimes	regime	NOUN
arjefm-77	303	25	(	(	PUNCT
arjefm-77	303	26	one	one	NUM
arjefm-77	303	27	threshold	threshold	NOUN
arjefm-77	303	28	)	)	PUNCT
arjefm-77	303	29	,	,	PUNCT
arjefm-77	303	30	or	or	CCONJ
arjefm-77	303	31	a	a	DET
arjefm-77	303	32	pstr	pstr	NOUN
arjefm-77	303	33	model	model	NOUN
arjefm-77	303	34	with	with	ADP
arjefm-77	303	35	at	at	ADV
arjefm-77	303	36	least	least	ADV
arjefm-77	303	37	three	three	NUM
arjefm-77	303	38	regimes	regime	NOUN
arjefm-77	303	39	(	(	PUNCT
arjefm-77	303	40	two	two	NUM
arjefm-77	303	41	thresholds	threshold	NOUN
arjefm-77	303	42	)	)	PUNCT
arjefm-77	303	43	.	.	PUNCT
arjefm-77	304	1	the	the	DET
arjefm-77	304	2	results	result	NOUN
arjefm-77	304	3	of	of	ADP
arjefm-77	304	4	the	the	DET
arjefm-77	304	5	test	test	NOUN
arjefm-77	304	6	are	be	AUX
arjefm-77	304	7	presented	present	VERB
arjefm-77	304	8	in	in	ADP
arjefm-77	304	9	the	the	DET
arjefm-77	304	10	following	follow	VERB
arjefm-77	304	11	table	table	NOUN
arjefm-77	304	12	:	:	PUNCT
arjefm-77	304	13	table	table	NOUN
arjefm-77	304	14	4	4	NUM
arjefm-77	304	15	:	:	PUNCT
arjefm-77	304	16	number	number	NOUN
arjefm-77	304	17	of	of	ADP
arjefm-77	304	18	regimes	regime	NOUN
arjefm-77	304	19	test	test	NOUN
arjefm-77	304	20	test	test	NOUN
arjefm-77	304	21	statistics	statistic	NOUN
arjefm-77	304	22	p	p	NOUN
arjefm-77	304	23	-	-	PUNCT
arjefm-77	304	24	value	value	NOUN
arjefm-77	304	25	wald	wald	NOUN
arjefm-77	304	26	test	test	NOUN
arjefm-77	304	27	3.230	3.230	NUM
arjefm-77	304	28	0.780	0.780	NUM
arjefm-77	304	29	fischer	fischer	PROPN
arjefm-77	304	30	test	test	NOUN
arjefm-77	304	31	0.464	0.464	NUM
arjefm-77	304	32	0.834	0.834	NUM
arjefm-77	304	33	lrt	lrt	PROPN
arjefm-77	304	34	test	test	NOUN
arjefm-77	304	35	3.263	3.263	NUM
arjefm-77	304	36	0.775	0.775	NUM
arjefm-77	304	37	source	source	NOUN
arjefm-77	304	38	:	:	PUNCT
arjefm-77	304	39	authors	author	NOUN
arjefm-77	304	40	based	base	VERB
arjefm-77	304	41	on	on	ADP
arjefm-77	304	42	wdi	wdi	PROPN
arjefm-77	304	43	(	(	PUNCT
arjefm-77	304	44	2020	2020	NUM
arjefm-77	304	45	)	)	PUNCT
arjefm-77	304	46	,	,	PUNCT
arjefm-77	304	47	gfdd	gfdd	NOUN
arjefm-77	304	48	(	(	PUNCT
arjefm-77	304	49	2020	2020	NUM
arjefm-77	304	50	)	)	PUNCT
arjefm-77	304	51	,	,	PUNCT
arjefm-77	304	52	bceao	bceao	NOUN
arjefm-77	304	53	(	(	PUNCT
arjefm-77	304	54	2020	2020	NUM
arjefm-77	304	55	)	)	PUNCT
arjefm-77	304	56	through	through	ADP
arjefm-77	304	57	table	table	NOUN
arjefm-77	304	58	4	4	NUM
arjefm-77	304	59	,	,	PUNCT
arjefm-77	304	60	we	we	PRON
arjefm-77	304	61	see	see	VERB
arjefm-77	304	62	that	that	SCONJ
arjefm-77	304	63	all	all	DET
arjefm-77	304	64	our	our	PRON
arjefm-77	304	65	probabilities	probability	NOUN
arjefm-77	304	66	are	be	AUX
arjefm-77	304	67	not	not	PART
arjefm-77	304	68	significant	significant	ADJ
arjefm-77	304	69	.	.	PUNCT
arjefm-77	305	1	therefore	therefore	ADV
arjefm-77	305	2	,	,	PUNCT
arjefm-77	305	3	the	the	DET
arjefm-77	305	4	null	null	ADJ
arjefm-77	305	5	hypothesis	hypothesis	NOUN
arjefm-77	305	6	can	can	AUX
arjefm-77	305	7	not	not	PART
arjefm-77	305	8	be	be	AUX
arjefm-77	305	9	rejected	reject	VERB
arjefm-77	305	10	.	.	PUNCT
arjefm-77	306	1	in	in	ADP
arjefm-77	306	2	other	other	ADJ
arjefm-77	306	3	words	word	NOUN
arjefm-77	306	4	,	,	PUNCT
arjefm-77	306	5	the	the	DET
arjefm-77	306	6	pstr	pstr	NOUN
arjefm-77	306	7	model	model	NOUN
arjefm-77	306	8	with	with	ADP
arjefm-77	306	9	two	two	NUM
arjefm-77	306	10	regimes	regime	NOUN
arjefm-77	306	11	,	,	PUNCT
arjefm-77	306	12	i.e.	i.e.	X
arjefm-77	306	13	,	,	PUNCT
arjefm-77	306	14	with	with	ADP
arjefm-77	306	15	a	a	DET
arjefm-77	306	16	threshold	threshold	NOUN
arjefm-77	306	17	is	be	AUX
arjefm-77	306	18	adequate	adequate	ADJ
arjefm-77	306	19	to	to	PART
arjefm-77	306	20	analyze	analyze	VERB
arjefm-77	306	21	the	the	DET
arjefm-77	306	22	non	non	ADJ
arjefm-77	306	23	-	-	ADJ
arjefm-77	306	24	linear	linear	ADJ
arjefm-77	306	25	relationship	relationship	NOUN
arjefm-77	306	26	between	between	ADP
arjefm-77	306	27	bank	bank	NOUN
arjefm-77	306	28	capital	capital	NOUN
arjefm-77	306	29	and	and	CCONJ
arjefm-77	306	30	liquidity	liquidity	NOUN
arjefm-77	306	31	risk	risk	NOUN
arjefm-77	306	32	.	.	PUNCT
arjefm-77	307	1	following	follow	VERB
arjefm-77	307	2	the	the	DET
arjefm-77	307	3	analysis	analysis	NOUN
arjefm-77	307	4	of	of	ADP
arjefm-77	307	5	the	the	DET
arjefm-77	307	6	various	various	ADJ
arjefm-77	307	7	preliminary	preliminary	ADJ
arjefm-77	307	8	tests	test	NOUN
arjefm-77	307	9	,	,	PUNCT
arjefm-77	307	10	we	we	PRON
arjefm-77	307	11	can	can	AUX
arjefm-77	307	12	now	now	ADV
arjefm-77	307	13	proceed	proceed	VERB
arjefm-77	307	14	to	to	ADP
arjefm-77	307	15	the	the	DET
arjefm-77	307	16	interpretation	interpretation	NOUN
arjefm-77	307	17	of	of	ADP
arjefm-77	307	18	the	the	DET
arjefm-77	307	19	results	result	NOUN
arjefm-77	307	20	of	of	ADP
arjefm-77	307	21	the	the	DET
arjefm-77	307	22	pstr	pstr	NOUN
arjefm-77	307	23	model	model	NOUN
arjefm-77	307	24	.	.	PUNCT
arjefm-77	308	1	5.2	5.2	NUM
arjefm-77	308	2	.	.	PUNCT
arjefm-77	308	3	result	result	NOUN
arjefm-77	308	4	of	of	ADP
arjefm-77	308	5	the	the	DET
arjefm-77	308	6	pstr	pstr	NOUN
arjefm-77	308	7	model	model	NOUN
arjefm-77	308	8	for	for	ADP
arjefm-77	308	9	the	the	DET
arjefm-77	308	10	analysis	analysis	NOUN
arjefm-77	308	11	of	of	ADP
arjefm-77	308	12	the	the	DET
arjefm-77	308	13	non	non	NOUN
arjefm-77	308	14	-	-	NOUN
arjefm-77	308	15	linearity	linearity	NOUN
arjefm-77	308	16	between	between	ADP
arjefm-77	308	17	bank	bank	NOUN
arjefm-77	308	18	capital	capital	NOUN
arjefm-77	308	19	and	and	CCONJ
arjefm-77	308	20	liquidity	liquidity	NOUN
arjefm-77	308	21	risk	risk	NOUN
arjefm-77	308	22	,	,	PUNCT
arjefm-77	308	23	the	the	DET
arjefm-77	308	24	various	various	ADJ
arjefm-77	308	25	tests	test	NOUN
arjefm-77	308	26	carried	carry	VERB
arjefm-77	308	27	out	out	ADP
arjefm-77	308	28	led	lead	VERB
arjefm-77	308	29	us	we	PRON
arjefm-77	308	30	to	to	PART
arjefm-77	308	31	estimate	estimate	VERB
arjefm-77	308	32	a	a	DET
arjefm-77	308	33	pstr	pstr	NOUN
arjefm-77	308	34	model	model	NOUN
arjefm-77	308	35	.	.	PUNCT
arjefm-77	309	1	the	the	DET
arjefm-77	309	2	purpose	purpose	NOUN
arjefm-77	309	3	of	of	ADP
arjefm-77	309	4	this	this	DET
arjefm-77	309	5	section	section	NOUN
arjefm-77	309	6	is	be	AUX
arjefm-77	309	7	to	to	PART
arjefm-77	309	8	comment	comment	VERB
arjefm-77	309	9	on	on	ADP
arjefm-77	309	10	the	the	DET
arjefm-77	309	11	results	result	NOUN
arjefm-77	309	12	and	and	CCONJ
arjefm-77	309	13	to	to	PART
arjefm-77	309	14	draw	draw	VERB
arjefm-77	309	15	the	the	DET
arjefm-77	309	16	main	main	ADJ
arjefm-77	309	17	lessons	lesson	NOUN
arjefm-77	309	18	from	from	ADP
arjefm-77	309	19	them	they	PRON
arjefm-77	309	20	.	.	PUNCT
arjefm-77	310	1	the	the	DET
arjefm-77	310	2	results	result	NOUN
arjefm-77	310	3	of	of	ADP
arjefm-77	310	4	the	the	DET
arjefm-77	310	5	estimation	estimation	NOUN
arjefm-77	310	6	are	be	AUX
arjefm-77	310	7	listed	list	VERB
arjefm-77	310	8	in	in	ADP
arjefm-77	310	9	table	table	NOUN
arjefm-77	310	10	5	5	NUM
arjefm-77	310	11	above	above	ADV
arjefm-77	310	12	:	:	PUNCT
arjefm-77	310	13	table	table	NOUN
arjefm-77	310	14	5	5	NUM
arjefm-77	310	15	:	:	PUNCT
arjefm-77	310	16	result	result	NOUN
arjefm-77	310	17	of	of	ADP
arjefm-77	310	18	the	the	DET
arjefm-77	310	19	pstr	pstr	NOUN
arjefm-77	310	20	model	model	PROPN
arjefm-77	310	21	estimation	estimation	NOUN
arjefm-77	310	22	variables	variable	NOUN
arjefm-77	310	23	explained	explain	VERB
arjefm-77	310	24	variable	variable	NOUN
arjefm-77	310	25	:	:	PUNCT
arjefm-77	310	26	rliq	rliq	NOUN
arjefm-77	310	27	regime	regime	NOUN
arjefm-77	310	28	1	1	NUM
arjefm-77	310	29	:	:	PUNCT
arjefm-77	310	30	cap	cap	VERB
arjefm-77	310	31	≤	≤	NUM
arjefm-77	310	32	24.93	24.93	NUM
arjefm-77	310	33	%	%	NOUN
arjefm-77	310	34	regime	regime	NOUN
arjefm-77	310	35	2	2	NUM
arjefm-77	310	36	:	:	PUNCT
arjefm-77	310	37	cap	cap	VERB
arjefm-77	310	38	>	>	X
arjefm-77	310	39	24.93	24.93	NUM
arjefm-77	310	40	%	%	NOUN
arjefm-77	310	41	car	car	NOUN
arjefm-77	310	42	-0.155	-0.155	NOUN
arjefm-77	310	43	*	*	NOUN
arjefm-77	310	44	*	*	PUNCT
arjefm-77	310	45	(	(	PUNCT
arjefm-77	310	46	-2.444	-2.444	NOUN
arjefm-77	310	47	)	)	PUNCT
arjefm-77	310	48	0.016	0.016	NUM
arjefm-77	310	49	(	(	PUNCT
arjefm-77	310	50	0.256	0.256	NUM
arjefm-77	310	51	)	)	PUNCT
arjefm-77	310	52	cap	cap	NOUN
arjefm-77	310	53	-0.023	-0.023	NUM
arjefm-77	310	54	(	(	PUNCT
arjefm-77	310	55	-1.052	-1.052	PROPN
arjefm-77	310	56	)	)	PUNCT
arjefm-77	311	1	0.065	0.065	NUM
arjefm-77	311	2	*	*	PUNCT
arjefm-77	311	3	*	*	PUNCT
arjefm-77	311	4	*	*	PUNCT
arjefm-77	311	5	(	(	PUNCT
arjefm-77	311	6	2.610	2.610	NUM
arjefm-77	311	7	)	)	PUNCT
arjefm-77	311	8	cred	cre	VERB
arjefm-77	311	9	0.243	0.243	NUM
arjefm-77	311	10	*	*	PUNCT
arjefm-77	311	11	*	*	PUNCT
arjefm-77	311	12	*	*	PUNCT
arjefm-77	311	13	(	(	PUNCT
arjefm-77	311	14	6.917	6.917	NUM
arjefm-77	311	15	)	)	PUNCT
arjefm-77	311	16	-0.039	-0.039	NOUN
arjefm-77	311	17	(	(	PUNCT
arjefm-77	311	18	-1.293	-1.293	X
arjefm-77	311	19	)	)	PUNCT
arjefm-77	311	20	cr3	cr3	NOUN
arjefm-77	312	1	0.019	0.019	NUM
arjefm-77	312	2	*	*	PUNCT
arjefm-77	312	3	*	*	PUNCT
arjefm-77	312	4	*	*	PUNCT
arjefm-77	312	5	(	(	PUNCT
arjefm-77	312	6	2.519	2.519	NUM
arjefm-77	312	7	)	)	PUNCT
arjefm-77	312	8	-0.023	-0.023	PUNCT
arjefm-77	313	1	*	*	PUNCT
arjefm-77	313	2	*	*	PUNCT
arjefm-77	313	3	*	*	PUNCT
arjefm-77	313	4	(	(	PUNCT
arjefm-77	313	5	-2.711	-2.711	NOUN
arjefm-77	313	6	)	)	PUNCT
arjefm-77	313	7	tcpib	tcpib	ADJ
arjefm-77	313	8	0.029	0.029	NUM
arjefm-77	313	9	(	(	PUNCT
arjefm-77	313	10	1.241	1.241	NUM
arjefm-77	313	11	)	)	PUNCT
arjefm-77	313	12	-0.004	-0.004	PUNCT
arjefm-77	313	13	(	(	PUNCT
arjefm-77	313	14	-0.103	-0.103	NOUN
arjefm-77	313	15	)	)	PUNCT
arjefm-77	313	16	inf	inf	NOUN
arjefm-77	313	17	0.008	0.008	NUM
arjefm-77	313	18	(	(	PUNCT
arjefm-77	313	19	0.663	0.663	NUM
arjefm-77	313	20	)	)	PUNCT
arjefm-77	313	21	0.005	0.005	NUM
arjefm-77	313	22	(	(	PUNCT
arjefm-77	313	23	0.334	0.334	NUM
arjefm-77	313	24	)	)	PUNCT
arjefm-77	313	25	source	source	NOUN
arjefm-77	313	26	:	:	PUNCT
arjefm-77	313	27	authors	author	NOUN
arjefm-77	313	28	based	base	VERB
arjefm-77	313	29	on	on	ADP
arjefm-77	313	30	wdi	wdi	PROPN
arjefm-77	313	31	(	(	PUNCT
arjefm-77	313	32	2020	2020	NUM
arjefm-77	313	33	)	)	PUNCT
arjefm-77	313	34	,	,	PUNCT
arjefm-77	313	35	gfdd	gfdd	NOUN
arjefm-77	313	36	(	(	PUNCT
arjefm-77	313	37	2020	2020	NUM
arjefm-77	313	38	)	)	PUNCT
arjefm-77	313	39	,	,	PUNCT
arjefm-77	313	40	bceao	bceao	NOUN
arjefm-77	313	41	(	(	PUNCT
arjefm-77	313	42	2020	2020	NUM
arjefm-77	313	43	)	)	PUNCT
arjefm-77	313	44	note	note	NOUN
arjefm-77	313	45	:	:	PUNCT
arjefm-77	314	1	*	*	PUNCT
arjefm-77	314	2	*	*	PUNCT
arjefm-77	314	3	significant	significant	ADJ
arjefm-77	314	4	at	at	ADP
arjefm-77	314	5	5	5	NUM
arjefm-77	314	6	%	%	NOUN
arjefm-77	314	7	level	level	NOUN
arjefm-77	314	8	,	,	PUNCT
arjefm-77	314	9	*	*	PUNCT
arjefm-77	314	10	*	*	PUNCT
arjefm-77	314	11	*	*	PUNCT
arjefm-77	314	12	significant	significant	ADJ
arjefm-77	314	13	at	at	ADP
arjefm-77	314	14	1	1	NUM
arjefm-77	314	15	%	%	NOUN
arjefm-77	314	16	level	level	NOUN
arjefm-77	314	17	the	the	DET
arjefm-77	314	18	analysis	analysis	NOUN
arjefm-77	314	19	of	of	ADP
arjefm-77	314	20	table	table	NOUN
arjefm-77	314	21	5	5	NUM
arjefm-77	314	22	allows	allow	VERB
arjefm-77	314	23	us	we	PRON
arjefm-77	314	24	to	to	PART
arjefm-77	314	25	appreciate	appreciate	VERB
arjefm-77	314	26	the	the	DET
arjefm-77	314	27	effect	effect	NOUN
arjefm-77	314	28	of	of	ADP
arjefm-77	314	29	the	the	DET
arjefm-77	314	30	different	different	ADJ
arjefm-77	314	31	variables	variable	NOUN
arjefm-77	314	32	on	on	ADP
arjefm-77	314	33	liquidity	liquidity	NOUN
arjefm-77	314	34	risk	risk	NOUN
arjefm-77	314	35	.	.	PUNCT
arjefm-77	315	1	indeed	indeed	ADV
arjefm-77	315	2	,	,	PUNCT
arjefm-77	315	3	bank	bank	NOUN
arjefm-77	315	4	capital	capital	NOUN
arjefm-77	315	5	negatively	negatively	ADV
arjefm-77	315	6	influences	influence	VERB
arjefm-77	315	7	liquidity	liquidity	NOUN
arjefm-77	315	8	risk	risk	NOUN
arjefm-77	315	9	for	for	ADP
arjefm-77	315	10	a	a	DET
arjefm-77	315	11	level	level	NOUN
arjefm-77	315	12	of	of	ADP
arjefm-77	315	13	market	market	NOUN
arjefm-77	315	14	capitalization	capitalization	NOUN
arjefm-77	315	15	below	below	ADP
arjefm-77	315	16	the	the	DET
arjefm-77	315	17	threshold	threshold	NOUN
arjefm-77	315	18	of	of	ADP
arjefm-77	315	19	24.93	24.93	NUM
arjefm-77	315	20	%	%	NOUN
arjefm-77	315	21	.	.	PUNCT
arjefm-77	316	1	on	on	ADP
arjefm-77	316	2	the	the	DET
arjefm-77	316	3	other	other	ADJ
arjefm-77	316	4	hand	hand	NOUN
arjefm-77	316	5	,	,	PUNCT
arjefm-77	316	6	above	above	ADP
arjefm-77	316	7	the	the	DET
arjefm-77	316	8	threshold	threshold	NOUN
arjefm-77	316	9	,	,	PUNCT
arjefm-77	316	10	its	its	PRON
arjefm-77	316	11	influence	influence	NOUN
arjefm-77	316	12	becomes	become	VERB
arjefm-77	316	13	positive	positive	ADJ
arjefm-77	316	14	but	but	CCONJ
arjefm-77	316	15	not	not	PART
arjefm-77	316	16	significant	significant	ADJ
arjefm-77	316	17	.	.	PUNCT
arjefm-77	317	1	similarly	similarly	ADV
arjefm-77	317	2	,	,	PUNCT
arjefm-77	317	3	market	market	NOUN
arjefm-77	317	4	capitalization	capitalization	NOUN
arjefm-77	317	5	negatively	negatively	ADV
arjefm-77	317	6	influences	influence	VERB
arjefm-77	317	7	the	the	DET
arjefm-77	317	8	liquidity	liquidity	NOUN
arjefm-77	317	9	risk	risk	NOUN
arjefm-77	317	10	below	below	ADP
arjefm-77	317	11	the	the	DET
arjefm-77	317	12	threshold	threshold	NOUN
arjefm-77	317	13	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	317	14	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	317	15	american	american	PROPN
arjefm-77	317	16	research	research	PROPN
arjefm-77	317	17	journal	journal	PROPN
arjefm-77	317	18	of	of	ADP
arjefm-77	317	19	economics	economic	NOUN
arjefm-77	317	20	,	,	PUNCT
arjefm-77	317	21	finance	finance	NOUN
arjefm-77	317	22	and	and	CCONJ
arjefm-77	317	23	management	management	NOUN
arjefm-77	317	24	volume	volume	NOUN
arjefm-77	317	25	11	11	NUM
arjefm-77	317	26	issue	issue	NOUN
arjefm-77	317	27	1	1	NUM
arjefm-77	317	28	,	,	PUNCT
arjefm-77	317	29	january	january	PROPN
arjefm-77	317	30	-	-	PUNCT
arjefm-77	317	31	march	march	PROPN
arjefm-77	317	32	2023	2023	NUM
arjefm-77	317	33	issn	issn	NOUN
arjefm-77	317	34	:	:	PUNCT
arjefm-77	317	35	2836	2836	NUM
arjefm-77	317	36	-	-	SYM
arjefm-77	317	37	9416	9416	NUM
arjefm-77	317	38	impact	impact	NOUN
arjefm-77	317	39	factor	factor	NOUN
arjefm-77	317	40	:	:	PUNCT
arjefm-77	317	41	5.57	5.57	NUM
arjefm-77	317	42	journal	journal	NOUN
arjefm-77	317	43	homepage	homepage	NOUN
arjefm-77	317	44	:	:	PUNCT
arjefm-77	317	45	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	317	46	,	,	PUNCT
arjefm-77	317	47	email	email	NOUN
arjefm-77	317	48	:	:	PUNCT
arjefm-77	317	49	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	317	50	official	official	ADJ
arjefm-77	317	51	journal	journal	PROPN
arjefm-77	317	52	of	of	ADP
arjefm-77	317	53	america	america	PROPN
arjefm-77	317	54	serial	serial	PROPN
arjefm-77	317	55	publication	publication	NOUN
arjefm-77	317	56	american	american	PROPN
arjefm-77	317	57	research	research	PROPN
arjefm-77	317	58	journal	journal	PROPN
arjefm-77	317	59	of	of	ADP
arjefm-77	317	60	economics	economic	NOUN
arjefm-77	317	61	,	,	PUNCT
arjefm-77	317	62	finance	finance	NOUN
arjefm-77	317	63	and	and	CCONJ
arjefm-77	317	64	management	management	NOUN
arjefm-77	317	65	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	317	66	,	,	PUNCT
arjefm-77	317	67	email	email	NOUN
arjefm-77	317	68	:	:	PUNCT
arjefm-77	317	69	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	318	1	43	43	NUM
arjefm-77	319	1	|	|	ADV
arjefm-77	319	2	p	p	X
arjefm-77	319	3	a	a	DET
arjefm-77	319	4	g	g	NOUN
arjefm-77	319	5	e	e	NOUN
arjefm-77	319	6	without	without	ADP
arjefm-77	319	7	this	this	DET
arjefm-77	319	8	influence	influence	NOUN
arjefm-77	319	9	is	be	AUX
arjefm-77	319	10	significant	significant	ADJ
arjefm-77	319	11	.	.	PUNCT
arjefm-77	320	1	however	however	ADV
arjefm-77	320	2	,	,	PUNCT
arjefm-77	320	3	above	above	ADP
arjefm-77	320	4	the	the	DET
arjefm-77	320	5	threshold	threshold	NOUN
arjefm-77	320	6	,	,	PUNCT
arjefm-77	320	7	the	the	DET
arjefm-77	320	8	influence	influence	NOUN
arjefm-77	320	9	becomes	become	VERB
arjefm-77	320	10	significant	significant	ADJ
arjefm-77	320	11	and	and	CCONJ
arjefm-77	320	12	positive	positive	ADJ
arjefm-77	320	13	.	.	PUNCT
arjefm-77	321	1	as	as	ADP
arjefm-77	321	2	for	for	ADP
arjefm-77	321	3	bank	bank	NOUN
arjefm-77	321	4	credit	credit	NOUN
arjefm-77	321	5	,	,	PUNCT
arjefm-77	321	6	its	its	PRON
arjefm-77	321	7	influence	influence	NOUN
arjefm-77	321	8	remains	remain	VERB
arjefm-77	321	9	significant	significant	ADJ
arjefm-77	321	10	and	and	CCONJ
arjefm-77	321	11	positive	positive	ADJ
arjefm-77	321	12	only	only	ADV
arjefm-77	321	13	in	in	ADP
arjefm-77	321	14	the	the	DET
arjefm-77	321	15	first	first	ADJ
arjefm-77	321	16	regime	regime	NOUN
arjefm-77	321	17	.	.	PUNCT
arjefm-77	322	1	bank	bank	NOUN
arjefm-77	322	2	concentration	concentration	NOUN
arjefm-77	322	3	has	have	VERB
arjefm-77	322	4	a	a	DET
arjefm-77	322	5	positive	positive	ADJ
arjefm-77	322	6	influence	influence	NOUN
arjefm-77	322	7	in	in	ADP
arjefm-77	322	8	the	the	DET
arjefm-77	322	9	first	first	ADJ
arjefm-77	322	10	regime	regime	NOUN
arjefm-77	322	11	and	and	CCONJ
arjefm-77	322	12	a	a	DET
arjefm-77	322	13	negative	negative	ADJ
arjefm-77	322	14	influence	influence	NOUN
arjefm-77	322	15	in	in	ADP
arjefm-77	322	16	the	the	DET
arjefm-77	322	17	second	second	ADJ
arjefm-77	322	18	regime	regime	NOUN
arjefm-77	322	19	.	.	PUNCT
arjefm-77	323	1	the	the	DET
arjefm-77	323	2	growth	growth	NOUN
arjefm-77	323	3	rate	rate	NOUN
arjefm-77	323	4	and	and	CCONJ
arjefm-77	323	5	inflation	inflation	NOUN
arjefm-77	323	6	remain	remain	VERB
arjefm-77	323	7	insignificant	insignificant	ADJ
arjefm-77	323	8	,	,	PUNCT
arjefm-77	323	9	regardless	regardless	ADV
arjefm-77	323	10	of	of	ADP
arjefm-77	323	11	the	the	DET
arjefm-77	323	12	regime	regime	NOUN
arjefm-77	323	13	considered	consider	VERB
arjefm-77	323	14	.	.	PUNCT
arjefm-77	324	1	the	the	DET
arjefm-77	324	2	negative	negative	ADJ
arjefm-77	324	3	influence	influence	NOUN
arjefm-77	324	4	of	of	ADP
arjefm-77	324	5	bank	bank	NOUN
arjefm-77	324	6	capital	capital	NOUN
arjefm-77	324	7	on	on	ADP
arjefm-77	324	8	liquidity	liquidity	NOUN
arjefm-77	324	9	risk	risk	NOUN
arjefm-77	324	10	reflects	reflect	VERB
arjefm-77	324	11	the	the	DET
arjefm-77	324	12	fact	fact	NOUN
arjefm-77	324	13	that	that	SCONJ
arjefm-77	324	14	bank	bank	NOUN
arjefm-77	324	15	capital	capital	NOUN
arjefm-77	324	16	reduces	reduce	VERB
arjefm-77	324	17	liquidity	liquidity	NOUN
arjefm-77	324	18	risk	risk	NOUN
arjefm-77	324	19	for	for	ADP
arjefm-77	324	20	a	a	DET
arjefm-77	324	21	market	market	NOUN
arjefm-77	324	22	capitalization	capitalization	NOUN
arjefm-77	324	23	level	level	NOUN
arjefm-77	324	24	below	below	ADP
arjefm-77	324	25	24.93	24.93	NUM
arjefm-77	324	26	%	%	NOUN
arjefm-77	324	27	.	.	PUNCT
arjefm-77	325	1	indeed	indeed	ADV
arjefm-77	325	2	,	,	PUNCT
arjefm-77	325	3	this	this	DET
arjefm-77	325	4	result	result	NOUN
arjefm-77	325	5	suggests	suggest	VERB
arjefm-77	325	6	that	that	SCONJ
arjefm-77	325	7	the	the	DET
arjefm-77	325	8	effect	effect	NOUN
arjefm-77	325	9	of	of	ADP
arjefm-77	325	10	bank	bank	NOUN
arjefm-77	325	11	capital	capital	NOUN
arjefm-77	325	12	on	on	ADP
arjefm-77	325	13	liquidity	liquidity	NOUN
arjefm-77	325	14	risk	risk	NOUN
arjefm-77	325	15	is	be	AUX
arjefm-77	325	16	dependent	dependent	ADJ
arjefm-77	325	17	on	on	ADP
arjefm-77	325	18	the	the	DET
arjefm-77	325	19	evolution	evolution	NOUN
arjefm-77	325	20	of	of	ADP
arjefm-77	325	21	the	the	DET
arjefm-77	325	22	financial	financial	ADJ
arjefm-77	325	23	market	market	NOUN
arjefm-77	325	24	.	.	PUNCT
arjefm-77	326	1	to	to	ADP
arjefm-77	326	2	this	this	DET
arjefm-77	326	3	effect	effect	NOUN
arjefm-77	326	4	,	,	PUNCT
arjefm-77	326	5	for	for	ADP
arjefm-77	326	6	a	a	DET
arjefm-77	326	7	low	low	ADJ
arjefm-77	326	8	level	level	NOUN
arjefm-77	326	9	of	of	ADP
arjefm-77	326	10	financial	financial	ADJ
arjefm-77	326	11	market	market	NOUN
arjefm-77	326	12	development	development	NOUN
arjefm-77	326	13	(	(	PUNCT
arjefm-77	326	14	cap	cap	VERB
arjefm-77	326	15	≤	≤	NOUN
arjefm-77	326	16	24.93	24.93	NUM
arjefm-77	326	17	%	%	NOUN
arjefm-77	326	18	)	)	PUNCT
arjefm-77	326	19	,	,	PUNCT
arjefm-77	326	20	bank	bank	NOUN
arjefm-77	326	21	capital	capital	NOUN
arjefm-77	326	22	reduces	reduce	VERB
arjefm-77	326	23	liquidity	liquidity	NOUN
arjefm-77	326	24	risk	risk	NOUN
arjefm-77	326	25	.	.	PUNCT
arjefm-77	327	1	however	however	ADV
arjefm-77	327	2	,	,	PUNCT
arjefm-77	327	3	when	when	SCONJ
arjefm-77	327	4	the	the	DET
arjefm-77	327	5	financial	financial	ADJ
arjefm-77	327	6	market	market	NOUN
arjefm-77	327	7	develops	develop	VERB
arjefm-77	327	8	(	(	PUNCT
arjefm-77	327	9	cap	cap	NOUN
arjefm-77	327	10	>	>	X
arjefm-77	327	11	24.93	24.93	NUM
arjefm-77	327	12	%	%	NOUN
arjefm-77	327	13	)	)	PUNCT
arjefm-77	327	14	,	,	PUNCT
arjefm-77	327	15	it	it	PRON
arjefm-77	327	16	weakens	weaken	VERB
arjefm-77	327	17	the	the	DET
arjefm-77	327	18	effectiveness	effectiveness	NOUN
arjefm-77	327	19	of	of	ADP
arjefm-77	327	20	bank	bank	NOUN
arjefm-77	327	21	capital	capital	NOUN
arjefm-77	327	22	and	and	CCONJ
arjefm-77	327	23	leads	lead	VERB
arjefm-77	327	24	to	to	ADP
arjefm-77	327	25	an	an	DET
arjefm-77	327	26	increase	increase	NOUN
arjefm-77	327	27	in	in	ADP
arjefm-77	327	28	liquidity	liquidity	NOUN
arjefm-77	327	29	risk	risk	NOUN
arjefm-77	327	30	.	.	PUNCT
arjefm-77	328	1	indeed	indeed	ADV
arjefm-77	328	2	,	,	PUNCT
arjefm-77	328	3	this	this	DET
arjefm-77	328	4	result	result	NOUN
arjefm-77	328	5	could	could	AUX
arjefm-77	328	6	be	be	AUX
arjefm-77	328	7	explained	explain	VERB
arjefm-77	328	8	by	by	ADP
arjefm-77	328	9	the	the	DET
arjefm-77	328	10	fact	fact	NOUN
arjefm-77	328	11	that	that	SCONJ
arjefm-77	328	12	in	in	ADP
arjefm-77	328	13	the	the	DET
arjefm-77	328	14	absence	absence	NOUN
arjefm-77	328	15	of	of	ADP
arjefm-77	328	16	a	a	DET
arjefm-77	328	17	developed	develop	VERB
arjefm-77	328	18	financial	financial	ADJ
arjefm-77	328	19	market	market	NOUN
arjefm-77	328	20	,	,	PUNCT
arjefm-77	328	21	the	the	DET
arjefm-77	328	22	banks	bank	NOUN
arjefm-77	328	23	that	that	PRON
arjefm-77	328	24	provide	provide	VERB
arjefm-77	328	25	the	the	DET
arjefm-77	328	26	bulk	bulk	NOUN
arjefm-77	328	27	of	of	ADP
arjefm-77	328	28	banking	banking	NOUN
arjefm-77	328	29	intermediation	intermediation	NOUN
arjefm-77	328	30	are	be	AUX
arjefm-77	328	31	subject	subject	ADJ
arjefm-77	328	32	to	to	ADP
arjefm-77	328	33	increased	increase	VERB
arjefm-77	328	34	supervision	supervision	NOUN
arjefm-77	328	35	.	.	PUNCT
arjefm-77	329	1	thus	thus	ADV
arjefm-77	329	2	,	,	PUNCT
arjefm-77	329	3	the	the	DET
arjefm-77	329	4	pressure	pressure	NOUN
arjefm-77	329	5	of	of	ADP
arjefm-77	329	6	the	the	DET
arjefm-77	329	7	regulator	regulator	NOUN
arjefm-77	329	8	to	to	PART
arjefm-77	329	9	respect	respect	VERB
arjefm-77	329	10	capital	capital	NOUN
arjefm-77	329	11	requirements	requirement	NOUN
arjefm-77	329	12	encourages	encourage	VERB
arjefm-77	329	13	banks	bank	NOUN
arjefm-77	329	14	to	to	PART
arjefm-77	329	15	be	be	AUX
arjefm-77	329	16	cautious	cautious	ADJ
arjefm-77	329	17	and	and	CCONJ
arjefm-77	329	18	leads	lead	VERB
arjefm-77	329	19	to	to	ADP
arjefm-77	329	20	a	a	DET
arjefm-77	329	21	decrease	decrease	NOUN
arjefm-77	329	22	in	in	ADP
arjefm-77	329	23	liquidity	liquidity	NOUN
arjefm-77	329	24	risk	risk	NOUN
arjefm-77	329	25	.	.	PUNCT
arjefm-77	330	1	on	on	ADP
arjefm-77	330	2	the	the	DET
arjefm-77	330	3	other	other	ADJ
arjefm-77	330	4	hand	hand	NOUN
arjefm-77	330	5	,	,	PUNCT
arjefm-77	330	6	when	when	SCONJ
arjefm-77	330	7	the	the	DET
arjefm-77	330	8	financial	financial	ADJ
arjefm-77	330	9	market	market	NOUN
arjefm-77	330	10	develops	develop	VERB
arjefm-77	330	11	,	,	PUNCT
arjefm-77	330	12	it	it	PRON
arjefm-77	330	13	offers	offer	VERB
arjefm-77	330	14	banks	bank	NOUN
arjefm-77	330	15	new	new	ADJ
arjefm-77	330	16	investment	investment	NOUN
arjefm-77	330	17	and	and	CCONJ
arjefm-77	330	18	placement	placement	NOUN
arjefm-77	330	19	possibilities	possibility	NOUN
arjefm-77	330	20	,	,	PUNCT
arjefm-77	330	21	outside	outside	ADP
arjefm-77	330	22	the	the	DET
arjefm-77	330	23	regulatory	regulatory	ADJ
arjefm-77	330	24	provisions	provision	NOUN
arjefm-77	330	25	.	.	PUNCT
arjefm-77	331	1	however	however	ADV
arjefm-77	331	2	,	,	PUNCT
arjefm-77	331	3	in	in	ADP
arjefm-77	331	4	the	the	DET
arjefm-77	331	5	absence	absence	NOUN
arjefm-77	331	6	of	of	ADP
arjefm-77	331	7	control	control	NOUN
arjefm-77	331	8	and	and	CCONJ
arjefm-77	331	9	supervision	supervision	NOUN
arjefm-77	331	10	,	,	PUNCT
arjefm-77	331	11	a	a	DET
arjefm-77	331	12	moral	moral	ADJ
arjefm-77	331	13	hazard	hazard	NOUN
arjefm-77	331	14	problem	problem	NOUN
arjefm-77	331	15	arises	arise	VERB
arjefm-77	331	16	,	,	PUNCT
arjefm-77	331	17	which	which	PRON
arjefm-77	331	18	favors	favor	VERB
arjefm-77	331	19	risk	risk	NOUN
arjefm-77	331	20	-	-	PUNCT
arjefm-77	331	21	taking	taking	NOUN
arjefm-77	331	22	,	,	PUNCT
arjefm-77	331	23	hence	hence	ADV
arjefm-77	331	24	the	the	DET
arjefm-77	331	25	increase	increase	NOUN
arjefm-77	331	26	in	in	ADP
arjefm-77	331	27	liquidity	liquidity	NOUN
arjefm-77	331	28	risk	risk	NOUN
arjefm-77	331	29	in	in	ADP
arjefm-77	331	30	the	the	DET
arjefm-77	331	31	second	second	ADJ
arjefm-77	331	32	regime	regime	NOUN
arjefm-77	331	33	although	although	SCONJ
arjefm-77	331	34	not	not	PART
arjefm-77	331	35	significant	significant	ADJ
arjefm-77	331	36	.	.	PUNCT
arjefm-77	332	1	this	this	DET
arjefm-77	332	2	result	result	NOUN
arjefm-77	332	3	is	be	AUX
arjefm-77	332	4	consistent	consistent	ADJ
arjefm-77	332	5	with	with	ADP
arjefm-77	332	6	that	that	PRON
arjefm-77	332	7	obtained	obtain	VERB
arjefm-77	332	8	by	by	ADP
arjefm-77	332	9	fève	fève	PROPN
arjefm-77	332	10	et	et	PROPN
arjefm-77	332	11	al	al	PROPN
arjefm-77	332	12	(	(	PUNCT
arjefm-77	332	13	2019	2019	NUM
arjefm-77	332	14	)	)	PUNCT
arjefm-77	332	15	whose	whose	DET
arjefm-77	332	16	study	study	NOUN
arjefm-77	332	17	focused	focus	VERB
arjefm-77	332	18	on	on	ADP
arjefm-77	332	19	the	the	DET
arjefm-77	332	20	us	us	PROPN
arjefm-77	332	21	economy	economy	NOUN
arjefm-77	332	22	.	.	PUNCT
arjefm-77	333	1	indeed	indeed	ADV
arjefm-77	333	2	,	,	PUNCT
arjefm-77	333	3	they	they	PRON
arjefm-77	333	4	showed	show	VERB
arjefm-77	333	5	in	in	ADP
arjefm-77	333	6	their	their	PRON
arjefm-77	333	7	work	work	NOUN
arjefm-77	333	8	that	that	PRON
arjefm-77	333	9	shadow	shadow	NOUN
arjefm-77	333	10	banking	banking	NOUN
arjefm-77	333	11	activities	activity	NOUN
arjefm-77	333	12	amplified	amplify	VERB
arjefm-77	333	13	the	the	DET
arjefm-77	333	14	transmission	transmission	NOUN
arjefm-77	333	15	of	of	ADP
arjefm-77	333	16	shocks	shock	NOUN
arjefm-77	333	17	,	,	PUNCT
arjefm-77	333	18	and	and	CCONJ
arjefm-77	333	19	more	more	ADV
arjefm-77	333	20	importantly	importantly	ADV
arjefm-77	333	21	,	,	PUNCT
arjefm-77	333	22	reduced	reduce	VERB
arjefm-77	333	23	the	the	DET
arjefm-77	333	24	effectiveness	effectiveness	NOUN
arjefm-77	333	25	of	of	ADP
arjefm-77	333	26	macroprudential	macroprudential	ADJ
arjefm-77	333	27	policies	policy	NOUN
arjefm-77	333	28	.	.	PUNCT
arjefm-77	334	1	however	however	ADV
arjefm-77	334	2	,	,	PUNCT
arjefm-77	334	3	in	in	ADP
arjefm-77	334	4	the	the	DET
arjefm-77	334	5	case	case	NOUN
arjefm-77	334	6	of	of	ADP
arjefm-77	334	7	china	china	PROPN
arjefm-77	334	8	,	,	PUNCT
arjefm-77	334	9	chen	chen	PROPN
arjefm-77	334	10	et	et	PROPN
arjefm-77	334	11	al	al	PROPN
arjefm-77	334	12	(	(	PUNCT
arjefm-77	334	13	2021	2021	NUM
arjefm-77	334	14	)	)	PUNCT
arjefm-77	334	15	reach	reach	VERB
arjefm-77	334	16	contradictory	contradictory	ADJ
arjefm-77	334	17	results	result	NOUN
arjefm-77	334	18	.	.	PUNCT
arjefm-77	335	1	analyzing	analyze	VERB
arjefm-77	335	2	the	the	DET
arjefm-77	335	3	role	role	NOUN
arjefm-77	335	4	of	of	ADP
arjefm-77	335	5	shadow	shadow	NOUN
arjefm-77	335	6	banking	banking	NOUN
arjefm-77	335	7	in	in	ADP
arjefm-77	335	8	the	the	DET
arjefm-77	335	9	relationship	relationship	NOUN
arjefm-77	335	10	between	between	ADP
arjefm-77	335	11	bank	bank	NOUN
arjefm-77	335	12	capital	capital	NOUN
arjefm-77	335	13	and	and	CCONJ
arjefm-77	335	14	liquidity	liquidity	NOUN
arjefm-77	335	15	risk	risk	NOUN
arjefm-77	335	16	,	,	PUNCT
arjefm-77	335	17	they	they	PRON
arjefm-77	335	18	observe	observe	VERB
arjefm-77	335	19	that	that	SCONJ
arjefm-77	335	20	,	,	PUNCT
arjefm-77	335	21	on	on	ADP
arjefm-77	335	22	the	the	DET
arjefm-77	335	23	one	one	NUM
arjefm-77	335	24	hand	hand	NOUN
arjefm-77	335	25	,	,	PUNCT
arjefm-77	335	26	in	in	ADP
arjefm-77	335	27	the	the	DET
arjefm-77	335	28	absence	absence	NOUN
arjefm-77	335	29	of	of	ADP
arjefm-77	335	30	shadow	shadow	NOUN
arjefm-77	335	31	banking	banking	NOUN
arjefm-77	335	32	activities	activity	NOUN
arjefm-77	335	33	,	,	PUNCT
arjefm-77	335	34	banks	bank	NOUN
arjefm-77	335	35	with	with	ADP
arjefm-77	335	36	low	low	ADJ
arjefm-77	335	37	capital	capital	NOUN
arjefm-77	335	38	ratios	ratio	NOUN
arjefm-77	335	39	were	be	AUX
arjefm-77	335	40	more	more	ADV
arjefm-77	335	41	involved	involved	ADJ
arjefm-77	335	42	in	in	ADP
arjefm-77	335	43	liquidity	liquidity	NOUN
arjefm-77	335	44	creation	creation	NOUN
arjefm-77	335	45	.	.	PUNCT
arjefm-77	336	1	on	on	ADP
arjefm-77	336	2	the	the	DET
arjefm-77	336	3	other	other	ADJ
arjefm-77	336	4	hand	hand	NOUN
arjefm-77	336	5	,	,	PUNCT
arjefm-77	336	6	when	when	SCONJ
arjefm-77	336	7	shadow	shadow	NOUN
arjefm-77	336	8	banking	banking	NOUN
arjefm-77	336	9	activities	activity	NOUN
arjefm-77	336	10	are	be	AUX
arjefm-77	336	11	taken	take	VERB
arjefm-77	336	12	into	into	ADP
arjefm-77	336	13	account	account	NOUN
arjefm-77	336	14	,	,	PUNCT
arjefm-77	336	15	they	they	PRON
arjefm-77	336	16	find	find	VERB
arjefm-77	336	17	that	that	SCONJ
arjefm-77	336	18	banks	bank	NOUN
arjefm-77	336	19	with	with	ADP
arjefm-77	336	20	sufficient	sufficient	ADJ
arjefm-77	336	21	equity	equity	NOUN
arjefm-77	336	22	created	create	VERB
arjefm-77	336	23	much	much	ADV
arjefm-77	336	24	more	more	ADJ
arjefm-77	336	25	liquidity	liquidity	NOUN
arjefm-77	336	26	.	.	PUNCT
arjefm-77	337	1	similarly	similarly	ADV
arjefm-77	337	2	,	,	PUNCT
arjefm-77	337	3	when	when	SCONJ
arjefm-77	337	4	we	we	PRON
arjefm-77	337	5	consider	consider	VERB
arjefm-77	337	6	the	the	DET
arjefm-77	337	7	direct	direct	ADJ
arjefm-77	337	8	effect	effect	NOUN
arjefm-77	337	9	of	of	ADP
arjefm-77	337	10	market	market	NOUN
arjefm-77	337	11	capitalization	capitalization	NOUN
arjefm-77	337	12	,	,	PUNCT
arjefm-77	337	13	we	we	PRON
arjefm-77	337	14	find	find	VERB
arjefm-77	337	15	that	that	SCONJ
arjefm-77	337	16	it	it	PRON
arjefm-77	337	17	reduces	reduce	VERB
arjefm-77	337	18	liquidity	liquidity	NOUN
arjefm-77	337	19	risk	risk	NOUN
arjefm-77	337	20	in	in	ADP
arjefm-77	337	21	the	the	DET
arjefm-77	337	22	first	first	ADJ
arjefm-77	337	23	regime	regime	NOUN
arjefm-77	337	24	,	,	PUNCT
arjefm-77	337	25	while	while	SCONJ
arjefm-77	337	26	it	it	PRON
arjefm-77	337	27	increases	increase	VERB
arjefm-77	337	28	liquidity	liquidity	NOUN
arjefm-77	337	29	risk	risk	NOUN
arjefm-77	337	30	in	in	ADP
arjefm-77	337	31	the	the	DET
arjefm-77	337	32	second	second	ADJ
arjefm-77	337	33	regime	regime	NOUN
arjefm-77	337	34	.	.	PUNCT
arjefm-77	338	1	the	the	DET
arjefm-77	338	2	positive	positive	ADJ
arjefm-77	338	3	effect	effect	NOUN
arjefm-77	338	4	of	of	ADP
arjefm-77	338	5	market	market	NOUN
arjefm-77	338	6	capitalization	capitalization	NOUN
arjefm-77	338	7	above	above	ADP
arjefm-77	338	8	the	the	DET
arjefm-77	338	9	threshold	threshold	NOUN
arjefm-77	338	10	confirms	confirm	VERB
arjefm-77	338	11	the	the	DET
arjefm-77	338	12	hypothesis	hypothesis	NOUN
arjefm-77	338	13	that	that	PRON
arjefm-77	338	14	capital	capital	NOUN
arjefm-77	338	15	market	market	NOUN
arjefm-77	338	16	development	development	NOUN
arjefm-77	338	17	increases	increase	VERB
arjefm-77	338	18	exposure	exposure	NOUN
arjefm-77	338	19	to	to	ADP
arjefm-77	338	20	liquidity	liquidity	NOUN
arjefm-77	338	21	risk	risk	NOUN
arjefm-77	338	22	.	.	PUNCT
arjefm-77	339	1	this	this	DET
arjefm-77	339	2	result	result	NOUN
arjefm-77	339	3	is	be	AUX
arjefm-77	339	4	in	in	ADP
arjefm-77	339	5	line	line	NOUN
arjefm-77	339	6	with	with	ADP
arjefm-77	339	7	the	the	DET
arjefm-77	339	8	work	work	NOUN
arjefm-77	339	9	of	of	ADP
arjefm-77	339	10	dell'ariccia	dell'ariccia	PROPN
arjefm-77	339	11	et	et	PROPN
arjefm-77	339	12	al	al	PROPN
arjefm-77	339	13	(	(	PUNCT
arjefm-77	339	14	2008	2008	NUM
arjefm-77	339	15	)	)	PUNCT
arjefm-77	339	16	and	and	CCONJ
arjefm-77	339	17	gonzález	gonzález	PROPN
arjefm-77	339	18	et	et	PROPN
arjefm-77	339	19	al	al	PROPN
arjefm-77	339	20	(	(	PUNCT
arjefm-77	339	21	2016	2016	NUM
arjefm-77	339	22	)	)	PUNCT
arjefm-77	339	23	.	.	PUNCT
arjefm-77	340	1	these	these	DET
arjefm-77	340	2	authors	author	NOUN
arjefm-77	340	3	respectively	respectively	ADV
arjefm-77	340	4	showed	show	VERB
arjefm-77	340	5	that	that	SCONJ
arjefm-77	340	6	market	market	NOUN
arjefm-77	340	7	activities	activity	NOUN
arjefm-77	340	8	in	in	ADP
arjefm-77	340	9	particularty	particularty	NOUN
arjefm-77	340	10	securitization	securitization	NOUN
arjefm-77	340	11	and	and	CCONJ
arjefm-77	340	12	derivatives	derivative	NOUN
arjefm-77	340	13	increase	increase	VERB
arjefm-77	340	14	risk	risk	NOUN
arjefm-77	340	15	and	and	CCONJ
arjefm-77	340	16	in	in	ADP
arjefm-77	340	17	turn	turn	NOUN
arjefm-77	340	18	financial	financial	ADJ
arjefm-77	340	19	instability	instability	NOUN
arjefm-77	340	20	.	.	PUNCT
arjefm-77	341	1	for	for	ADP
arjefm-77	341	2	the	the	DET
arjefm-77	341	3	control	control	NOUN
arjefm-77	341	4	variables	variable	NOUN
arjefm-77	341	5	,	,	PUNCT
arjefm-77	341	6	bank	bank	NOUN
arjefm-77	341	7	lending	lending	NOUN
arjefm-77	341	8	increases	increase	VERB
arjefm-77	341	9	liquidity	liquidity	NOUN
arjefm-77	341	10	risk	risk	NOUN
arjefm-77	341	11	only	only	ADV
arjefm-77	341	12	in	in	ADP
arjefm-77	341	13	the	the	DET
arjefm-77	341	14	first	first	ADJ
arjefm-77	341	15	regime	regime	NOUN
arjefm-77	341	16	.	.	PUNCT
arjefm-77	342	1	this	this	DET
arjefm-77	342	2	effect	effect	NOUN
arjefm-77	342	3	is	be	AUX
arjefm-77	342	4	because	because	SCONJ
arjefm-77	342	5	credit	credit	NOUN
arjefm-77	342	6	granting	granting	NOUN
arjefm-77	342	7	is	be	AUX
arjefm-77	342	8	the	the	DET
arjefm-77	342	9	main	main	ADJ
arjefm-77	342	10	activity	activity	NOUN
arjefm-77	342	11	of	of	ADP
arjefm-77	342	12	banks	bank	NOUN
arjefm-77	342	13	.	.	PUNCT
arjefm-77	343	1	as	as	ADP
arjefm-77	343	2	such	such	ADJ
arjefm-77	343	3	,	,	PUNCT
arjefm-77	343	4	it	it	PRON
arjefm-77	343	5	represents	represent	VERB
arjefm-77	343	6	the	the	DET
arjefm-77	343	7	primary	primary	ADJ
arjefm-77	343	8	risk	risk	NOUN
arjefm-77	343	9	factor	factor	NOUN
arjefm-77	343	10	for	for	ADP
arjefm-77	343	11	banks	bank	NOUN
arjefm-77	343	12	.	.	PUNCT
arjefm-77	344	1	indeed	indeed	ADV
arjefm-77	344	2	,	,	PUNCT
arjefm-77	344	3	given	give	VERB
arjefm-77	344	4	that	that	SCONJ
arjefm-77	344	5	the	the	DET
arjefm-77	344	6	resources	resource	NOUN
arjefm-77	344	7	used	use	VERB
arjefm-77	344	8	to	to	PART
arjefm-77	344	9	finance	finance	VERB
arjefm-77	344	10	come	come	VERB
arjefm-77	344	11	,	,	PUNCT
arjefm-77	344	12	to	to	ADP
arjefm-77	344	13	a	a	DET
arjefm-77	344	14	large	large	ADJ
arjefm-77	344	15	extent	extent	NOUN
arjefm-77	344	16	,	,	PUNCT
arjefm-77	344	17	from	from	ADP
arjefm-77	344	18	depositors	depositor	NOUN
arjefm-77	344	19	,	,	PUNCT
arjefm-77	344	20	rapid	rapid	ADJ
arjefm-77	344	21	credit	credit	NOUN
arjefm-77	344	22	growth	growth	NOUN
arjefm-77	344	23	can	can	AUX
arjefm-77	344	24	unbalance	unbalance	VERB
arjefm-77	344	25	the	the	DET
arjefm-77	344	26	structure	structure	NOUN
arjefm-77	344	27	of	of	ADP
arjefm-77	344	28	the	the	DET
arjefm-77	344	29	balance	balance	NOUN
arjefm-77	344	30	sheet	sheet	NOUN
arjefm-77	344	31	and	and	CCONJ
arjefm-77	344	32	weaken	weaken	VERB
arjefm-77	344	33	the	the	DET
arjefm-77	344	34	banks	bank	NOUN
arjefm-77	344	35	.	.	PUNCT
arjefm-77	345	1	eichengreen	eichengreen	NOUN
arjefm-77	345	2	and	and	CCONJ
arjefm-77	345	3	arteta	arteta	PROPN
arjefm-77	345	4	(	(	PUNCT
arjefm-77	345	5	2002	2002	NUM
arjefm-77	345	6	)	)	PUNCT
arjefm-77	345	7	have	have	AUX
arjefm-77	345	8	shown	show	VERB
arjefm-77	345	9	in	in	ADP
arjefm-77	345	10	this	this	DET
arjefm-77	345	11	context	context	NOUN
arjefm-77	345	12	that	that	SCONJ
arjefm-77	345	13	rapid	rapid	ADJ
arjefm-77	345	14	growth	growth	NOUN
arjefm-77	345	15	in	in	ADP
arjefm-77	345	16	bank	bank	NOUN
arjefm-77	345	17	credit	credit	NOUN
arjefm-77	345	18	can	can	AUX
arjefm-77	345	19	increase	increase	VERB
arjefm-77	345	20	the	the	DET
arjefm-77	345	21	probability	probability	NOUN
arjefm-77	345	22	of	of	ADP
arjefm-77	345	23	a	a	DET
arjefm-77	345	24	crisis	crisis	NOUN
arjefm-77	345	25	.	.	PUNCT
arjefm-77	346	1	finally	finally	ADV
arjefm-77	346	2	,	,	PUNCT
arjefm-77	346	3	bank	bank	NOUN
arjefm-77	346	4	concentration	concentration	NOUN
arjefm-77	346	5	increases	increase	VERB
arjefm-77	346	6	liquidity	liquidity	NOUN
arjefm-77	346	7	risk	risk	NOUN
arjefm-77	346	8	in	in	ADP
arjefm-77	346	9	the	the	DET
arjefm-77	346	10	first	first	ADJ
arjefm-77	346	11	regime	regime	NOUN
arjefm-77	346	12	and	and	CCONJ
arjefm-77	346	13	decreases	decrease	VERB
arjefm-77	346	14	it	it	PRON
arjefm-77	346	15	in	in	ADP
arjefm-77	346	16	the	the	DET
arjefm-77	346	17	second	second	ADJ
arjefm-77	346	18	regime	regime	NOUN
arjefm-77	346	19	.	.	PUNCT
arjefm-77	347	1	indeed	indeed	ADV
arjefm-77	347	2	,	,	PUNCT
arjefm-77	347	3	bank	bank	NOUN
arjefm-77	347	4	concentration	concentration	NOUN
arjefm-77	347	5	gives	give	VERB
arjefm-77	347	6	banks	bank	NOUN
arjefm-77	347	7	market	market	NOUN
arjefm-77	347	8	power	power	NOUN
arjefm-77	347	9	.	.	PUNCT
arjefm-77	348	1	with	with	ADP
arjefm-77	348	2	market	market	NOUN
arjefm-77	348	3	power	power	NOUN
arjefm-77	348	4	,	,	PUNCT
arjefm-77	348	5	banks	bank	NOUN
arjefm-77	348	6	can	can	AUX
arjefm-77	348	7	charge	charge	VERB
arjefm-77	348	8	sufficiently	sufficiently	ADV
arjefm-77	348	9	for	for	ADP
arjefm-77	348	10	loans	loan	NOUN
arjefm-77	348	11	and	and	CCONJ
arjefm-77	348	12	pay	pay	VERB
arjefm-77	348	13	low	low	ADJ
arjefm-77	348	14	interest	interest	NOUN
arjefm-77	348	15	on	on	ADP
arjefm-77	348	16	deposits	deposit	NOUN
arjefm-77	348	17	to	to	PART
arjefm-77	348	18	build	build	VERB
arjefm-77	348	19	up	up	ADP
arjefm-77	348	20	large	large	ADJ
arjefm-77	348	21	margins	margin	NOUN
arjefm-77	348	22	(	(	PUNCT
arjefm-77	348	23	brei	brei	ADV
arjefm-77	348	24	et	et	PROPN
arjefm-77	348	25	al	al	PROPN
arjefm-77	348	26	,	,	PUNCT
arjefm-77	348	27	2020	2020	NUM
arjefm-77	348	28	)	)	PUNCT
arjefm-77	348	29	.	.	PUNCT
arjefm-77	349	1	however	however	ADV
arjefm-77	349	2	,	,	PUNCT
arjefm-77	349	3	the	the	DET
arjefm-77	349	4	low	low	ADJ
arjefm-77	349	5	remuneration	remuneration	NOUN
arjefm-77	349	6	of	of	ADP
arjefm-77	349	7	deposits	deposit	NOUN
arjefm-77	349	8	may	may	AUX
arjefm-77	349	9	discourage	discourage	VERB
arjefm-77	349	10	deposits	deposit	NOUN
arjefm-77	349	11	and	and	CCONJ
arjefm-77	349	12	encourage	encourage	VERB
arjefm-77	349	13	depositors	depositor	NOUN
arjefm-77	349	14	to	to	PART
arjefm-77	349	15	seek	seek	VERB
arjefm-77	349	16	better	well	ADJ
arjefm-77	349	17	investment	investment	NOUN
arjefm-77	349	18	alternatives	alternative	NOUN
arjefm-77	349	19	.	.	PUNCT
arjefm-77	350	1	under	under	ADP
arjefm-77	350	2	such	such	DET
arjefm-77	350	3	a	a	DET
arjefm-77	350	4	perspective	perspective	NOUN
arjefm-77	350	5	,	,	PUNCT
arjefm-77	350	6	banks	bank	NOUN
arjefm-77	350	7	would	would	AUX
arjefm-77	350	8	not	not	PART
arjefm-77	350	9	have	have	VERB
arjefm-77	350	10	enough	enough	ADJ
arjefm-77	350	11	liquid	liquid	ADJ
arjefm-77	350	12	assets	asset	NOUN
arjefm-77	350	13	to	to	ADP
arjefm-77	350	14	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	350	15	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	350	16	american	american	PROPN
arjefm-77	350	17	research	research	PROPN
arjefm-77	350	18	journal	journal	PROPN
arjefm-77	350	19	of	of	ADP
arjefm-77	350	20	economics	economic	NOUN
arjefm-77	350	21	,	,	PUNCT
arjefm-77	350	22	finance	finance	NOUN
arjefm-77	350	23	and	and	CCONJ
arjefm-77	350	24	management	management	NOUN
arjefm-77	350	25	volume	volume	NOUN
arjefm-77	350	26	11	11	NUM
arjefm-77	350	27	issue	issue	NOUN
arjefm-77	350	28	1	1	NUM
arjefm-77	350	29	,	,	PUNCT
arjefm-77	350	30	january	january	PROPN
arjefm-77	350	31	-	-	PUNCT
arjefm-77	350	32	march	march	PROPN
arjefm-77	350	33	2023	2023	NUM
arjefm-77	350	34	issn	issn	NOUN
arjefm-77	350	35	:	:	PUNCT
arjefm-77	350	36	2836	2836	NUM
arjefm-77	350	37	-	-	SYM
arjefm-77	350	38	9416	9416	NUM
arjefm-77	350	39	impact	impact	NOUN
arjefm-77	350	40	factor	factor	NOUN
arjefm-77	350	41	:	:	PUNCT
arjefm-77	350	42	5.57	5.57	NUM
arjefm-77	350	43	journal	journal	NOUN
arjefm-77	350	44	homepage	homepage	NOUN
arjefm-77	350	45	:	:	PUNCT
arjefm-77	350	46	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	350	47	,	,	PUNCT
arjefm-77	350	48	email	email	NOUN
arjefm-77	350	49	:	:	PUNCT
arjefm-77	350	50	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	350	51	official	official	ADJ
arjefm-77	350	52	journal	journal	PROPN
arjefm-77	350	53	of	of	ADP
arjefm-77	350	54	america	america	PROPN
arjefm-77	350	55	serial	serial	PROPN
arjefm-77	350	56	publication	publication	NOUN
arjefm-77	350	57	american	american	PROPN
arjefm-77	350	58	research	research	PROPN
arjefm-77	350	59	journal	journal	PROPN
arjefm-77	350	60	of	of	ADP
arjefm-77	350	61	economics	economic	NOUN
arjefm-77	350	62	,	,	PUNCT
arjefm-77	350	63	finance	finance	NOUN
arjefm-77	350	64	and	and	CCONJ
arjefm-77	350	65	management	management	NOUN
arjefm-77	350	66	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	350	67	,	,	PUNCT
arjefm-77	350	68	email	email	NOUN
arjefm-77	350	69	:	:	PUNCT
arjefm-77	350	70	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	351	1	44	44	NUM
arjefm-77	352	1	|	|	ADV
arjefm-77	352	2	p	p	NOUN
arjefm-77	352	3	a	a	DET
arjefm-77	352	4	g	g	NOUN
arjefm-77	352	5	e	e	NOUN
arjefm-77	352	6	meet	meet	VERB
arjefm-77	352	7	immediate	immediate	ADJ
arjefm-77	352	8	needs	need	NOUN
arjefm-77	352	9	,	,	PUNCT
arjefm-77	352	10	which	which	PRON
arjefm-77	352	11	will	will	AUX
arjefm-77	352	12	result	result	VERB
arjefm-77	352	13	in	in	ADP
arjefm-77	352	14	increased	increase	VERB
arjefm-77	352	15	liquidity	liquidity	NOUN
arjefm-77	352	16	risk	risk	NOUN
arjefm-77	352	17	.	.	PUNCT
arjefm-77	353	1	in	in	ADP
arjefm-77	353	2	contrast	contrast	NOUN
arjefm-77	353	3	,	,	PUNCT
arjefm-77	353	4	in	in	ADP
arjefm-77	353	5	the	the	DET
arjefm-77	353	6	second	second	ADJ
arjefm-77	353	7	regime	regime	NOUN
arjefm-77	353	8	,	,	PUNCT
arjefm-77	353	9	the	the	DET
arjefm-77	353	10	decrease	decrease	NOUN
arjefm-77	353	11	in	in	ADP
arjefm-77	353	12	liquidity	liquidity	NOUN
arjefm-77	353	13	risk	risk	NOUN
arjefm-77	353	14	could	could	AUX
arjefm-77	353	15	result	result	VERB
arjefm-77	353	16	from	from	ADP
arjefm-77	353	17	gains	gain	NOUN
arjefm-77	353	18	in	in	ADP
arjefm-77	353	19	market	market	NOUN
arjefm-77	353	20	power	power	NOUN
arjefm-77	353	21	.	.	PUNCT
arjefm-77	354	1	indeed	indeed	ADV
arjefm-77	354	2	,	,	PUNCT
arjefm-77	354	3	market	market	NOUN
arjefm-77	354	4	power	power	NOUN
arjefm-77	354	5	can	can	AUX
arjefm-77	354	6	reduce	reduce	VERB
arjefm-77	354	7	liquidity	liquidity	NOUN
arjefm-77	354	8	risk	risk	NOUN
arjefm-77	354	9	if	if	SCONJ
arjefm-77	354	10	it	it	PRON
arjefm-77	354	11	promotes	promote	VERB
arjefm-77	354	12	the	the	DET
arjefm-77	354	13	diversification	diversification	NOUN
arjefm-77	354	14	of	of	ADP
arjefm-77	354	15	services	service	NOUN
arjefm-77	354	16	.	.	PUNCT
arjefm-77	355	1	the	the	DET
arjefm-77	355	2	major	major	ADJ
arjefm-77	355	3	advantage	advantage	NOUN
arjefm-77	355	4	of	of	ADP
arjefm-77	355	5	diversification	diversification	NOUN
arjefm-77	355	6	is	be	AUX
arjefm-77	355	7	that	that	SCONJ
arjefm-77	355	8	it	it	PRON
arjefm-77	355	9	generates	generate	VERB
arjefm-77	355	10	new	new	ADJ
arjefm-77	355	11	sources	source	NOUN
arjefm-77	355	12	of	of	ADP
arjefm-77	355	13	revenue	revenue	NOUN
arjefm-77	355	14	that	that	PRON
arjefm-77	355	15	contribute	contribute	VERB
arjefm-77	355	16	to	to	ADP
arjefm-77	355	17	the	the	DET
arjefm-77	355	18	stability	stability	NOUN
arjefm-77	355	19	of	of	ADP
arjefm-77	355	20	banks	bank	NOUN
arjefm-77	355	21	.	.	PUNCT
arjefm-77	356	1	in	in	ADP
arjefm-77	356	2	addition	addition	NOUN
arjefm-77	356	3	,	,	PUNCT
arjefm-77	356	4	risk	risk	NOUN
arjefm-77	356	5	reduction	reduction	NOUN
arjefm-77	356	6	can	can	AUX
arjefm-77	356	7	result	result	VERB
arjefm-77	356	8	from	from	ADP
arjefm-77	356	9	the	the	DET
arjefm-77	356	10	development	development	NOUN
arjefm-77	356	11	of	of	ADP
arjefm-77	356	12	a	a	DET
arjefm-77	356	13	long	long	ADJ
arjefm-77	356	14	-	-	PUNCT
arjefm-77	356	15	term	term	NOUN
arjefm-77	356	16	relationship	relationship	NOUN
arjefm-77	356	17	with	with	ADP
arjefm-77	356	18	customers	customer	NOUN
arjefm-77	356	19	to	to	PART
arjefm-77	356	20	protect	protect	VERB
arjefm-77	356	21	against	against	ADP
arjefm-77	356	22	potential	potential	ADJ
arjefm-77	356	23	risks	risk	NOUN
arjefm-77	356	24	(	(	PUNCT
arjefm-77	356	25	petersen	petersen	PROPN
arjefm-77	356	26	and	and	CCONJ
arjefm-77	356	27	rajan	rajan	PROPN
arjefm-77	356	28	,	,	PUNCT
arjefm-77	356	29	1995	1995	NUM
arjefm-77	356	30	)	)	PUNCT
arjefm-77	356	31	.	.	PUNCT
arjefm-77	357	1	6	6	X
arjefm-77	357	2	.	.	X
arjefm-77	357	3	conclusion	conclusion	VERB
arjefm-77	357	4	the	the	DET
arjefm-77	357	5	objective	objective	NOUN
arjefm-77	357	6	of	of	ADP
arjefm-77	357	7	this	this	DET
arjefm-77	357	8	study	study	NOUN
arjefm-77	357	9	was	be	AUX
arjefm-77	357	10	to	to	PART
arjefm-77	357	11	analyze	analyze	VERB
arjefm-77	357	12	the	the	DET
arjefm-77	357	13	role	role	NOUN
arjefm-77	357	14	of	of	ADP
arjefm-77	357	15	the	the	DET
arjefm-77	357	16	financial	financial	ADJ
arjefm-77	357	17	market	market	NOUN
arjefm-77	357	18	in	in	ADP
arjefm-77	357	19	the	the	DET
arjefm-77	357	20	relationship	relationship	NOUN
arjefm-77	357	21	between	between	ADP
arjefm-77	357	22	bank	bank	NOUN
arjefm-77	357	23	capital	capital	NOUN
arjefm-77	357	24	and	and	CCONJ
arjefm-77	357	25	liquidity	liquidity	NOUN
arjefm-77	357	26	risk	risk	NOUN
arjefm-77	357	27	in	in	ADP
arjefm-77	357	28	the	the	DET
arjefm-77	357	29	waemu	waemu	PROPN
arjefm-77	357	30	zone	zone	NOUN
arjefm-77	357	31	.	.	PUNCT
arjefm-77	358	1	to	to	PART
arjefm-77	358	2	do	do	VERB
arjefm-77	358	3	so	so	ADV
arjefm-77	358	4	,	,	PUNCT
arjefm-77	358	5	we	we	PRON
arjefm-77	358	6	used	use	VERB
arjefm-77	358	7	a	a	DET
arjefm-77	358	8	panel	panel	NOUN
arjefm-77	358	9	of	of	ADP
arjefm-77	358	10	7	7	NUM
arjefm-77	358	11	countries	country	NOUN
arjefm-77	358	12	,	,	PUNCT
arjefm-77	358	13	all	all	DET
arjefm-77	358	14	members	member	NOUN
arjefm-77	358	15	of	of	ADP
arjefm-77	358	16	the	the	DET
arjefm-77	358	17	region	region	NOUN
arjefm-77	358	18	,	,	PUNCT
arjefm-77	358	19	over	over	ADP
arjefm-77	358	20	the	the	DET
arjefm-77	358	21	period	period	NOUN
arjefm-77	358	22	1996	1996	NUM
arjefm-77	358	23	to	to	ADP
arjefm-77	358	24	2018	2018	NUM
arjefm-77	358	25	.	.	PUNCT
arjefm-77	359	1	guinea	guinea	NOUN
arjefm-77	359	2	-	-	PUNCT
arjefm-77	359	3	bissau	bissau	PROPN
arjefm-77	359	4	was	be	AUX
arjefm-77	359	5	excluded	exclude	VERB
arjefm-77	359	6	due	due	ADP
arjefm-77	359	7	to	to	ADP
arjefm-77	359	8	the	the	DET
arjefm-77	359	9	lack	lack	NOUN
arjefm-77	359	10	of	of	ADP
arjefm-77	359	11	sufficient	sufficient	ADJ
arjefm-77	359	12	data	datum	NOUN
arjefm-77	359	13	over	over	ADP
arjefm-77	359	14	the	the	DET
arjefm-77	359	15	period	period	NOUN
arjefm-77	359	16	indicated	indicate	VERB
arjefm-77	359	17	above	above	ADV
arjefm-77	359	18	.	.	PUNCT
arjefm-77	360	1	methodologically	methodologically	ADV
arjefm-77	360	2	,	,	PUNCT
arjefm-77	360	3	the	the	DET
arjefm-77	360	4	estimation	estimation	NOUN
arjefm-77	360	5	strategy	strategy	NOUN
arjefm-77	360	6	consisted	consist	VERB
arjefm-77	360	7	in	in	ADP
arjefm-77	360	8	applying	apply	VERB
arjefm-77	360	9	the	the	DET
arjefm-77	360	10	smooth	smooth	ADJ
arjefm-77	360	11	transition	transition	NOUN
arjefm-77	360	12	panel	panel	NOUN
arjefm-77	360	13	method	method	NOUN
arjefm-77	360	14	(	(	PUNCT
arjefm-77	360	15	pstr	pstr	NOUN
arjefm-77	360	16	)	)	PUNCT
arjefm-77	360	17	developed	develop	VERB
arjefm-77	360	18	by	by	ADP
arjefm-77	360	19	gonzalez	gonzalez	PROPN
arjefm-77	360	20	et	et	PROPN
arjefm-77	360	21	al	al	PROPN
arjefm-77	360	22	(	(	PUNCT
arjefm-77	360	23	2005	2005	NUM
arjefm-77	360	24	)	)	PUNCT
arjefm-77	360	25	.	.	PUNCT
arjefm-77	361	1	we	we	PRON
arjefm-77	361	2	show	show	VERB
arjefm-77	361	3	that	that	SCONJ
arjefm-77	361	4	there	there	PRON
arjefm-77	361	5	is	be	VERB
arjefm-77	361	6	a	a	DET
arjefm-77	361	7	non	non	ADJ
arjefm-77	361	8	-	-	NOUN
arjefm-77	361	9	linearity	linearity	NOUN
arjefm-77	361	10	between	between	ADP
arjefm-77	361	11	bank	bank	NOUN
arjefm-77	361	12	regulation	regulation	NOUN
arjefm-77	361	13	and	and	CCONJ
arjefm-77	361	14	liquidity	liquidity	NOUN
arjefm-77	361	15	risk	risk	NOUN
arjefm-77	361	16	about	about	ADP
arjefm-77	361	17	the	the	DET
arjefm-77	361	18	financial	financial	ADJ
arjefm-77	361	19	market	market	NOUN
arjefm-77	361	20	characterized	characterize	VERB
arjefm-77	361	21	by	by	ADP
arjefm-77	361	22	a	a	DET
arjefm-77	361	23	smooth	smooth	ADJ
arjefm-77	361	24	transition	transition	NOUN
arjefm-77	361	25	between	between	ADP
arjefm-77	361	26	the	the	DET
arjefm-77	361	27	two	two	NUM
arjefm-77	361	28	regimes	regime	NOUN
arjefm-77	361	29	.	.	PUNCT
arjefm-77	362	1	indeed	indeed	ADV
arjefm-77	362	2	,	,	PUNCT
arjefm-77	362	3	bank	bank	NOUN
arjefm-77	362	4	capital	capital	NOUN
arjefm-77	362	5	negatively	negatively	ADV
arjefm-77	362	6	influences	influence	VERB
arjefm-77	362	7	liquidity	liquidity	NOUN
arjefm-77	362	8	risk	risk	NOUN
arjefm-77	362	9	for	for	ADP
arjefm-77	362	10	a	a	DET
arjefm-77	362	11	level	level	NOUN
arjefm-77	362	12	of	of	ADP
arjefm-77	362	13	market	market	NOUN
arjefm-77	362	14	capitalization	capitalization	NOUN
arjefm-77	362	15	below	below	ADP
arjefm-77	362	16	the	the	DET
arjefm-77	362	17	24.93	24.93	NUM
arjefm-77	362	18	%	%	NOUN
arjefm-77	362	19	threshold	threshold	NOUN
arjefm-77	362	20	.	.	PUNCT
arjefm-77	363	1	on	on	ADP
arjefm-77	363	2	the	the	DET
arjefm-77	363	3	other	other	ADJ
arjefm-77	363	4	hand	hand	NOUN
arjefm-77	363	5	,	,	PUNCT
arjefm-77	363	6	above	above	ADP
arjefm-77	363	7	this	this	DET
arjefm-77	363	8	threshold	threshold	NOUN
arjefm-77	363	9	,	,	PUNCT
arjefm-77	363	10	market	market	NOUN
arjefm-77	363	11	capitalization	capitalization	NOUN
arjefm-77	363	12	weakens	weaken	VERB
arjefm-77	363	13	the	the	DET
arjefm-77	363	14	effectiveness	effectiveness	NOUN
arjefm-77	363	15	of	of	ADP
arjefm-77	363	16	bank	bank	NOUN
arjefm-77	363	17	capital	capital	NOUN
arjefm-77	363	18	and	and	CCONJ
arjefm-77	363	19	leads	lead	VERB
arjefm-77	363	20	to	to	ADP
arjefm-77	363	21	risk	risk	NOUN
arjefm-77	363	22	-	-	PUNCT
arjefm-77	363	23	taking	taking	NOUN
arjefm-77	363	24	,	,	PUNCT
arjefm-77	363	25	although	although	SCONJ
arjefm-77	363	26	not	not	PART
arjefm-77	363	27	significantly	significantly	ADV
arjefm-77	363	28	.	.	PUNCT
arjefm-77	364	1	in	in	ADP
arjefm-77	364	2	light	light	NOUN
arjefm-77	364	3	of	of	ADP
arjefm-77	364	4	these	these	DET
arjefm-77	364	5	results	result	NOUN
arjefm-77	364	6	,	,	PUNCT
arjefm-77	364	7	it	it	PRON
arjefm-77	364	8	is	be	AUX
arjefm-77	364	9	clear	clear	ADJ
arjefm-77	364	10	that	that	SCONJ
arjefm-77	364	11	the	the	DET
arjefm-77	364	12	development	development	NOUN
arjefm-77	364	13	of	of	ADP
arjefm-77	364	14	regulatory	regulatory	ADJ
arjefm-77	364	15	and	and	CCONJ
arjefm-77	364	16	prudential	prudential	ADJ
arjefm-77	364	17	provisions	provision	NOUN
arjefm-77	364	18	can	can	AUX
arjefm-77	364	19	not	not	PART
arjefm-77	364	20	be	be	AUX
arjefm-77	364	21	done	do	VERB
arjefm-77	364	22	without	without	ADP
arjefm-77	364	23	taking	take	VERB
arjefm-77	364	24	into	into	ADP
arjefm-77	364	25	account	account	NOUN
arjefm-77	364	26	these	these	DET
arjefm-77	364	27	possible	possible	ADJ
arjefm-77	364	28	effects	effect	NOUN
arjefm-77	364	29	on	on	ADP
arjefm-77	364	30	the	the	DET
arjefm-77	364	31	financial	financial	ADJ
arjefm-77	364	32	market	market	NOUN
arjefm-77	364	33	at	at	ADP
arjefm-77	364	34	the	the	DET
arjefm-77	364	35	risk	risk	NOUN
arjefm-77	364	36	of	of	ADP
arjefm-77	364	37	accentuating	accentuate	VERB
arjefm-77	364	38	the	the	DET
arjefm-77	364	39	fragility	fragility	NOUN
arjefm-77	364	40	of	of	ADP
arjefm-77	364	41	the	the	DET
arjefm-77	364	42	entire	entire	ADJ
arjefm-77	364	43	financial	financial	ADJ
arjefm-77	364	44	system	system	NOUN
arjefm-77	364	45	.	.	PUNCT
arjefm-77	365	1	thus	thus	ADV
arjefm-77	365	2	,	,	PUNCT
arjefm-77	365	3	frank	frank	ADJ
arjefm-77	365	4	cooperation	cooperation	NOUN
arjefm-77	365	5	between	between	ADP
arjefm-77	365	6	the	the	DET
arjefm-77	365	7	banking	banking	NOUN
arjefm-77	365	8	and	and	CCONJ
arjefm-77	365	9	financial	financial	ADJ
arjefm-77	365	10	market	market	NOUN
arjefm-77	365	11	regulators	regulator	NOUN
arjefm-77	365	12	could	could	AUX
arjefm-77	365	13	mitigate	mitigate	VERB
arjefm-77	365	14	moral	moral	ADJ
arjefm-77	365	15	hazard	hazard	NOUN
arjefm-77	365	16	problems	problem	NOUN
arjefm-77	365	17	and	and	CCONJ
arjefm-77	365	18	strengthen	strengthen	VERB
arjefm-77	365	19	the	the	DET
arjefm-77	365	20	stability	stability	NOUN
arjefm-77	365	21	of	of	ADP
arjefm-77	365	22	the	the	DET
arjefm-77	365	23	banking	banking	NOUN
arjefm-77	365	24	system	system	NOUN
arjefm-77	365	25	.	.	PUNCT
arjefm-77	366	1	references	reference	NOUN
arjefm-77	366	2	allen	allen	PROPN
arjefm-77	366	3	,	,	PUNCT
arjefm-77	366	4	f.	f.	PROPN
arjefm-77	366	5	,	,	PUNCT
arjefm-77	366	6	&	&	CCONJ
arjefm-77	366	7	gale	gale	PROPN
arjefm-77	366	8	,	,	PUNCT
arjefm-77	366	9	d.	d.	PROPN
arjefm-77	366	10	(	(	PUNCT
arjefm-77	366	11	2004	2004	NUM
arjefm-77	366	12	)	)	PUNCT
arjefm-77	366	13	.	.	PUNCT
arjefm-77	367	1	financial	financial	ADJ
arjefm-77	367	2	intermediaries	intermediary	NOUN
arjefm-77	367	3	and	and	CCONJ
arjefm-77	367	4	markets	market	NOUN
arjefm-77	367	5	.	.	PUNCT
arjefm-77	368	1	econometrica	econometrica	PROPN
arjefm-77	368	2	,	,	PUNCT
arjefm-77	368	3	72(4	72(4	NUM
arjefm-77	368	4	)	)	PUNCT
arjefm-77	368	5	,	,	PUNCT
arjefm-77	368	6	1023	1023	NUM
arjefm-77	368	7	-	-	SYM
arjefm-77	368	8	1061	1061	NUM
arjefm-77	368	9	.	.	PUNCT
arjefm-77	369	1	bceao	bceao	PROPN
arjefm-77	369	2	(	(	PUNCT
arjefm-77	369	3	2020	2020	NUM
arjefm-77	369	4	)	)	PUNCT
arjefm-77	369	5	.	.	PUNCT
arjefm-77	370	1	bceao	bceao	PROPN
arjefm-77	370	2	(	(	PUNCT
arjefm-77	370	3	2020	2020	NUM
arjefm-77	370	4	)	)	PUNCT
arjefm-77	370	5	.	.	PUNCT
arjefm-77	371	1	data	datum	NOUN
arjefm-77	371	2	from	from	ADP
arjefm-77	371	3	the	the	DET
arjefm-77	371	4	website	website	NOUN
arjefm-77	371	5	of	of	ADP
arjefm-77	371	6	the	the	DET
arjefm-77	371	7	central	central	ADJ
arjefm-77	371	8	bank	bank	PROPN
arjefm-77	371	9	of	of	ADP
arjefm-77	371	10	west	west	ADJ
arjefm-77	371	11	african	african	ADJ
arjefm-77	371	12	states	state	NOUN
arjefm-77	371	13	.	.	PUNCT
arjefm-77	372	1	berger	berger	PROPN
arjefm-77	372	2	,	,	PUNCT
arjefm-77	372	3	a.	a.	PROPN
arjefm-77	372	4	n.	n.	PROPN
arjefm-77	372	5	,	,	PUNCT
arjefm-77	372	6	&	&	CCONJ
arjefm-77	372	7	bouwman	bouwman	PROPN
arjefm-77	372	8	,	,	PUNCT
arjefm-77	372	9	c.	c.	PROPN
arjefm-77	372	10	h.	h.	PROPN
arjefm-77	372	11	(	(	PUNCT
arjefm-77	372	12	2009	2009	NUM
arjefm-77	372	13	)	)	PUNCT
arjefm-77	372	14	.	.	PUNCT
arjefm-77	373	1	bank	bank	NOUN
arjefm-77	373	2	liquidity	liquidity	NOUN
arjefm-77	373	3	creation	creation	NOUN
arjefm-77	373	4	.	.	PUNCT
arjefm-77	374	1	the	the	DET
arjefm-77	374	2	review	review	NOUN
arjefm-77	374	3	of	of	ADP
arjefm-77	374	4	financial	financial	ADJ
arjefm-77	374	5	studies	study	NOUN
arjefm-77	374	6	,	,	PUNCT
arjefm-77	374	7	22(9	22(9	NUM
arjefm-77	374	8	)	)	PUNCT
arjefm-77	374	9	,	,	PUNCT
arjefm-77	374	10	3779	3779	NUM
arjefm-77	374	11	-	-	SYM
arjefm-77	374	12	3837	3837	NUM
arjefm-77	374	13	.	.	PUNCT
arjefm-77	375	1	berger	berger	PROPN
arjefm-77	375	2	,	,	PUNCT
arjefm-77	375	3	a.	a.	PROPN
arjefm-77	375	4	n.	n.	PROPN
arjefm-77	375	5	,	,	PUNCT
arjefm-77	375	6	bouwman	bouwman	NOUN
arjefm-77	375	7	,	,	PUNCT
arjefm-77	375	8	c.	c.	PROPN
arjefm-77	375	9	h.	h.	PROPN
arjefm-77	375	10	,	,	PUNCT
arjefm-77	375	11	kick	kick	VERB
arjefm-77	375	12	,	,	PUNCT
arjefm-77	375	13	t.	t.	PROPN
arjefm-77	375	14	,	,	PUNCT
arjefm-77	375	15	&	&	CCONJ
arjefm-77	375	16	schaeck	schaeck	PROPN
arjefm-77	375	17	,	,	PUNCT
arjefm-77	375	18	k.	k.	PROPN
arjefm-77	375	19	(	(	PUNCT
arjefm-77	375	20	2014	2014	NUM
arjefm-77	375	21	)	)	PUNCT
arjefm-77	375	22	.	.	PUNCT
arjefm-77	376	1	bank	bank	NOUN
arjefm-77	376	2	liquidity	liquidity	NOUN
arjefm-77	376	3	creation	creation	NOUN
arjefm-77	376	4	following	follow	VERB
arjefm-77	376	5	regulatory	regulatory	ADJ
arjefm-77	376	6	interventions	intervention	NOUN
arjefm-77	376	7	and	and	CCONJ
arjefm-77	376	8	capital	capital	NOUN
arjefm-77	376	9	support	support	NOUN
arjefm-77	376	10	.	.	PUNCT
arjefm-77	377	1	journal	journal	NOUN
arjefm-77	377	2	of	of	ADP
arjefm-77	377	3	financial	financial	ADJ
arjefm-77	377	4	intermediation	intermediation	NOUN
arjefm-77	377	5	,	,	PUNCT
arjefm-77	377	6	26	26	NUM
arjefm-77	377	7	,	,	PUNCT
arjefm-77	377	8	115	115	NUM
arjefm-77	377	9	-	-	SYM
arjefm-77	377	10	141	141	NUM
arjefm-77	377	11	.	.	PUNCT
arjefm-77	378	1	bhattacharya	bhattacharya	PROPN
arjefm-77	378	2	,	,	PUNCT
arjefm-77	378	3	s.	s.	PROPN
arjefm-77	378	4	,	,	PUNCT
arjefm-77	378	5	&	&	CCONJ
arjefm-77	378	6	thakor	thakor	PROPN
arjefm-77	378	7	,	,	PUNCT
arjefm-77	378	8	a.	a.	PROPN
arjefm-77	378	9	v.	v.	PROPN
arjefm-77	378	10	(	(	PUNCT
arjefm-77	378	11	1993	1993	NUM
arjefm-77	378	12	)	)	PUNCT
arjefm-77	378	13	.	.	PUNCT
arjefm-77	379	1	contemporary	contemporary	ADJ
arjefm-77	379	2	banking	banking	NOUN
arjefm-77	379	3	theory	theory	NOUN
arjefm-77	379	4	.	.	PUNCT
arjefm-77	380	1	journal	journal	PROPN
arjefm-77	380	2	of	of	ADP
arjefm-77	380	3	financial	financial	ADJ
arjefm-77	380	4	intermediation	intermediation	NOUN
arjefm-77	380	5	,	,	PUNCT
arjefm-77	380	6	3(1	3(1	NUM
arjefm-77	380	7	)	)	PUNCT
arjefm-77	380	8	,	,	PUNCT
arjefm-77	380	9	250	250	NUM
arjefm-77	380	10	.	.	PUNCT
arjefm-77	381	1	brei	brei	ADJ
arjefm-77	381	2	,	,	PUNCT
arjefm-77	381	3	m.	m.	NOUN
arjefm-77	381	4	,	,	PUNCT
arjefm-77	381	5	jacolin	jacolin	PROPN
arjefm-77	381	6	,	,	PUNCT
arjefm-77	381	7	l.	l.	PROPN
arjefm-77	381	8	,	,	PUNCT
arjefm-77	381	9	&	&	CCONJ
arjefm-77	381	10	noah	noah	PROPN
arjefm-77	381	11	,	,	PUNCT
arjefm-77	381	12	a.	a.	PROPN
arjefm-77	381	13	(	(	PUNCT
arjefm-77	381	14	2020	2020	NUM
arjefm-77	381	15	)	)	PUNCT
arjefm-77	381	16	.	.	PUNCT
arjefm-77	382	1	credit	credit	NOUN
arjefm-77	382	2	risk	risk	NOUN
arjefm-77	382	3	and	and	CCONJ
arjefm-77	382	4	bank	bank	NOUN
arjefm-77	382	5	competition	competition	NOUN
arjefm-77	382	6	in	in	ADP
arjefm-77	382	7	sub	sub	ADJ
arjefm-77	382	8	-	-	ADJ
arjefm-77	382	9	saharan	saharan	ADJ
arjefm-77	382	10	africa	africa	PROPN
arjefm-77	382	11	.	.	PUNCT
arjefm-77	383	1	emerging	emerge	VERB
arjefm-77	383	2	markets	market	NOUN
arjefm-77	383	3	review	review	NOUN
arjefm-77	383	4	,	,	PUNCT
arjefm-77	383	5	44	44	NUM
arjefm-77	383	6	,	,	PUNCT
arjefm-77	383	7	100716	100716	NUM
arjefm-77	383	8	.	.	PUNCT
arjefm-77	384	1	buchak	buchak	PROPN
arjefm-77	384	2	,	,	PUNCT
arjefm-77	384	3	g.	g.	PROPN
arjefm-77	384	4	,	,	PUNCT
arjefm-77	384	5	matvos	matvos	PROPN
arjefm-77	384	6	,	,	PUNCT
arjefm-77	384	7	g.	g.	NOUN
arjefm-77	384	8	,	,	PUNCT
arjefm-77	384	9	piskorski	piskorski	NOUN
arjefm-77	384	10	,	,	PUNCT
arjefm-77	384	11	t.	t.	PROPN
arjefm-77	384	12	,	,	PUNCT
arjefm-77	384	13	&	&	CCONJ
arjefm-77	384	14	seru	seru	PROPN
arjefm-77	384	15	,	,	PUNCT
arjefm-77	384	16	a.	a.	PROPN
arjefm-77	384	17	(	(	PUNCT
arjefm-77	384	18	2018	2018	NUM
arjefm-77	384	19	)	)	PUNCT
arjefm-77	384	20	.	.	PUNCT
arjefm-77	385	1	fintech	fintech	NOUN
arjefm-77	385	2	,	,	PUNCT
arjefm-77	385	3	regulatory	regulatory	ADJ
arjefm-77	385	4	arbitrage	arbitrage	NOUN
arjefm-77	385	5	,	,	PUNCT
arjefm-77	385	6	and	and	CCONJ
arjefm-77	385	7	the	the	DET
arjefm-77	385	8	rise	rise	NOUN
arjefm-77	385	9	of	of	ADP
arjefm-77	385	10	shadow	shadow	NOUN
arjefm-77	385	11	banks	bank	NOUN
arjefm-77	385	12	.	.	PUNCT
arjefm-77	386	1	journal	journal	PROPN
arjefm-77	386	2	of	of	ADP
arjefm-77	386	3	financial	financial	ADJ
arjefm-77	386	4	economics	economic	NOUN
arjefm-77	386	5	,	,	PUNCT
arjefm-77	386	6	130(3	130(3	NUM
arjefm-77	386	7	)	)	PUNCT
arjefm-77	386	8	,	,	PUNCT
arjefm-77	386	9	453	453	NUM
arjefm-77	386	10	-	-	SYM
arjefm-77	386	11	483	483	NUM
arjefm-77	386	12	.	.	PUNCT
arjefm-77	387	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-77	387	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	388	1	american	american	PROPN
arjefm-77	388	2	research	research	PROPN
arjefm-77	388	3	journal	journal	PROPN
arjefm-77	388	4	of	of	ADP
arjefm-77	388	5	economics	economic	NOUN
arjefm-77	388	6	,	,	PUNCT
arjefm-77	388	7	finance	finance	NOUN
arjefm-77	388	8	and	and	CCONJ
arjefm-77	388	9	management	management	NOUN
arjefm-77	388	10	volume	volume	NOUN
arjefm-77	388	11	11	11	NUM
arjefm-77	388	12	issue	issue	NOUN
arjefm-77	388	13	1	1	NUM
arjefm-77	388	14	,	,	PUNCT
arjefm-77	388	15	january	january	PROPN
arjefm-77	388	16	-	-	PUNCT
arjefm-77	388	17	march	march	PROPN
arjefm-77	388	18	2023	2023	NUM
arjefm-77	388	19	issn	issn	NOUN
arjefm-77	388	20	:	:	PUNCT
arjefm-77	388	21	2836	2836	NUM
arjefm-77	388	22	-	-	SYM
arjefm-77	388	23	9416	9416	NUM
arjefm-77	388	24	impact	impact	NOUN
arjefm-77	388	25	factor	factor	NOUN
arjefm-77	388	26	:	:	PUNCT
arjefm-77	388	27	5.57	5.57	NUM
arjefm-77	388	28	journal	journal	NOUN
arjefm-77	388	29	homepage	homepage	NOUN
arjefm-77	388	30	:	:	PUNCT
arjefm-77	388	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	388	32	,	,	PUNCT
arjefm-77	388	33	email	email	NOUN
arjefm-77	388	34	:	:	PUNCT
arjefm-77	389	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	389	2	official	official	ADJ
arjefm-77	389	3	journal	journal	PROPN
arjefm-77	389	4	of	of	ADP
arjefm-77	389	5	america	america	PROPN
arjefm-77	389	6	serial	serial	PROPN
arjefm-77	389	7	publication	publication	NOUN
arjefm-77	389	8	american	american	PROPN
arjefm-77	389	9	research	research	PROPN
arjefm-77	389	10	journal	journal	PROPN
arjefm-77	389	11	of	of	ADP
arjefm-77	389	12	economics	economic	NOUN
arjefm-77	389	13	,	,	PUNCT
arjefm-77	389	14	finance	finance	NOUN
arjefm-77	389	15	and	and	CCONJ
arjefm-77	389	16	management	management	NOUN
arjefm-77	389	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	389	18	,	,	PUNCT
arjefm-77	389	19	email	email	NOUN
arjefm-77	389	20	:	:	PUNCT
arjefm-77	389	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	390	1	45	45	NUM
arjefm-77	391	1	|	|	ADV
arjefm-77	391	2	p	p	ADP
arjefm-77	391	3	a	a	DET
arjefm-77	391	4	g	g	PROPN
arjefm-77	391	5	e	e	PROPN
arjefm-77	391	6	casu	casu	PROPN
arjefm-77	391	7	,	,	PUNCT
arjefm-77	391	8	b.	b.	PROPN
arjefm-77	391	9	,	,	PUNCT
arjefm-77	391	10	di	di	NOUN
arjefm-77	391	11	pietro	pietro	PROPN
arjefm-77	391	12	,	,	PUNCT
arjefm-77	391	13	f.	f.	PROPN
arjefm-77	391	14	,	,	PUNCT
arjefm-77	391	15	&	&	CCONJ
arjefm-77	391	16	trujillo	trujillo	PROPN
arjefm-77	391	17	-	-	PUNCT
arjefm-77	391	18	ponce	ponce	NOUN
arjefm-77	391	19	,	,	PUNCT
arjefm-77	391	20	a.	a.	NOUN
arjefm-77	391	21	(	(	PUNCT
arjefm-77	391	22	2019	2019	NUM
arjefm-77	391	23	)	)	PUNCT
arjefm-77	391	24	.	.	PUNCT
arjefm-77	392	1	liquidity	liquidity	NOUN
arjefm-77	392	2	creation	creation	NOUN
arjefm-77	392	3	and	and	CCONJ
arjefm-77	392	4	bank	bank	NOUN
arjefm-77	392	5	capital	capital	NOUN
arjefm-77	392	6	.	.	PUNCT
arjefm-77	393	1	journal	journal	PROPN
arjefm-77	393	2	of	of	ADP
arjefm-77	393	3	financial	financial	ADJ
arjefm-77	393	4	services	service	NOUN
arjefm-77	393	5	research	research	NOUN
arjefm-77	393	6	,	,	PUNCT
arjefm-77	393	7	56(3	56(3	NOUN
arjefm-77	393	8	)	)	PUNCT
arjefm-77	393	9	,	,	PUNCT
arjefm-77	393	10	307	307	NUM
arjefm-77	393	11	-	-	SYM
arjefm-77	393	12	340	340	NUM
arjefm-77	393	13	.	.	PUNCT
arjefm-77	394	1	chen	chen	PROPN
arjefm-77	394	2	,	,	PUNCT
arjefm-77	394	3	t.	t.	PROPN
arjefm-77	394	4	h.	h.	PROPN
arjefm-77	394	5	,	,	PUNCT
arjefm-77	394	6	shen	shen	PROPN
arjefm-77	394	7	,	,	PUNCT
arjefm-77	394	8	c.	c.	PROPN
arjefm-77	394	9	h.	h.	PROPN
arjefm-77	394	10	,	,	PUNCT
arjefm-77	394	11	wu	wu	PROPN
arjefm-77	394	12	,	,	PUNCT
arjefm-77	394	13	m.	m.	PROPN
arjefm-77	394	14	w.	w.	PROPN
arjefm-77	394	15	,	,	PUNCT
arjefm-77	394	16	&	&	CCONJ
arjefm-77	394	17	huang	huang	PROPN
arjefm-77	394	18	,	,	PUNCT
arjefm-77	394	19	k.	k.	PROPN
arjefm-77	394	20	j.	j.	PROPN
arjefm-77	394	21	(	(	PUNCT
arjefm-77	394	22	2021	2021	NUM
arjefm-77	394	23	)	)	PUNCT
arjefm-77	394	24	.	.	PUNCT
arjefm-77	395	1	effect	effect	NOUN
arjefm-77	395	2	of	of	ADP
arjefm-77	395	3	shadow	shadow	NOUN
arjefm-77	395	4	banking	banking	NOUN
arjefm-77	395	5	on	on	ADP
arjefm-77	395	6	the	the	DET
arjefm-77	395	7	relation	relation	NOUN
arjefm-77	395	8	between	between	ADP
arjefm-77	395	9	capital	capital	NOUN
arjefm-77	395	10	and	and	CCONJ
arjefm-77	395	11	liquidity	liquidity	NOUN
arjefm-77	395	12	creation	creation	NOUN
arjefm-77	395	13	.	.	PUNCT
arjefm-77	396	1	international	international	ADJ
arjefm-77	396	2	review	review	NOUN
arjefm-77	396	3	of	of	ADP
arjefm-77	396	4	economics	economics	PROPN
arjefm-77	396	5	&	&	CCONJ
arjefm-77	396	6	finance	finance	PROPN
arjefm-77	396	7	,	,	PUNCT
arjefm-77	396	8	76	76	NUM
arjefm-77	396	9	,	,	PUNCT
arjefm-77	396	10	166184	166184	NUM
arjefm-77	396	11	.	.	PUNCT
arjefm-77	397	1	dell'ariccia	dell'ariccia	PROPN
arjefm-77	397	2	,	,	PUNCT
arjefm-77	397	3	g.	g.	PROPN
arjefm-77	397	4	,	,	PUNCT
arjefm-77	397	5	igan	igan	PROPN
arjefm-77	397	6	,	,	PUNCT
arjefm-77	397	7	d.	d.	PROPN
arjefm-77	397	8	,	,	PUNCT
arjefm-77	397	9	&	&	CCONJ
arjefm-77	397	10	laeven	laeven	ADJ
arjefm-77	397	11	,	,	PUNCT
arjefm-77	397	12	l.	l.	PROPN
arjefm-77	397	13	(	(	PUNCT
arjefm-77	397	14	2008	2008	NUM
arjefm-77	397	15	)	)	PUNCT
arjefm-77	397	16	.	.	PUNCT
arjefm-77	398	1	credit	credit	NOUN
arjefm-77	398	2	booms	boom	NOUN
arjefm-77	398	3	and	and	CCONJ
arjefm-77	398	4	lending	lending	NOUN
arjefm-77	398	5	standards	standard	NOUN
arjefm-77	398	6	:	:	PUNCT
arjefm-77	398	7	evidence	evidence	NOUN
arjefm-77	398	8	from	from	ADP
arjefm-77	398	9	the	the	DET
arjefm-77	398	10	subprime	subprime	ADJ
arjefm-77	398	11	mortgage	mortgage	NOUN
arjefm-77	398	12	market	market	NOUN
arjefm-77	398	13	.	.	PUNCT
arjefm-77	399	1	available	available	ADJ
arjefm-77	399	2	at	at	ADP
arjefm-77	399	3	ssrn	ssrn	PROPN
arjefm-77	399	4	1141005	1141005	NUM
arjefm-77	399	5	.	.	PUNCT
arjefm-77	400	1	diamond	diamond	PROPN
arjefm-77	400	2	,	,	PUNCT
arjefm-77	400	3	d.	d.	PROPN
arjefm-77	400	4	w.	w.	PROPN
arjefm-77	400	5	,	,	PUNCT
arjefm-77	400	6	&	&	CCONJ
arjefm-77	400	7	rajan	rajan	PROPN
arjefm-77	400	8	,	,	PUNCT
arjefm-77	400	9	r.	r.	PROPN
arjefm-77	400	10	g.	g.	PROPN
arjefm-77	400	11	(	(	PUNCT
arjefm-77	400	12	2001	2001	NUM
arjefm-77	400	13	)	)	PUNCT
arjefm-77	400	14	.	.	PUNCT
arjefm-77	401	1	liquidity	liquidity	NOUN
arjefm-77	401	2	risk	risk	NOUN
arjefm-77	401	3	,	,	PUNCT
arjefm-77	401	4	liquidity	liquidity	NOUN
arjefm-77	401	5	creation	creation	NOUN
arjefm-77	401	6	,	,	PUNCT
arjefm-77	401	7	and	and	CCONJ
arjefm-77	401	8	financial	financial	ADJ
arjefm-77	401	9	fragility	fragility	NOUN
arjefm-77	401	10	:	:	PUNCT
arjefm-77	401	11	a	a	DET
arjefm-77	401	12	theory	theory	NOUN
arjefm-77	401	13	of	of	ADP
arjefm-77	401	14	banking	banking	NOUN
arjefm-77	401	15	.	.	PUNCT
arjefm-77	402	1	journal	journal	PROPN
arjefm-77	402	2	of	of	ADP
arjefm-77	402	3	political	political	ADJ
arjefm-77	402	4	economy	economy	NOUN
arjefm-77	402	5	,	,	PUNCT
arjefm-77	402	6	109(2	109(2	NUM
arjefm-77	402	7	)	)	PUNCT
arjefm-77	402	8	,	,	PUNCT
arjefm-77	402	9	287	287	NUM
arjefm-77	402	10	-	-	SYM
arjefm-77	402	11	327	327	NUM
arjefm-77	402	12	.	.	PUNCT
arjefm-77	403	1	distinguin	distinguin	PROPN
arjefm-77	403	2	,	,	PUNCT
arjefm-77	403	3	i.	i.	PROPN
arjefm-77	403	4	,	,	PUNCT
arjefm-77	403	5	roulet	roulet	PROPN
arjefm-77	403	6	,	,	PUNCT
arjefm-77	403	7	c.	c.	PROPN
arjefm-77	403	8	,	,	PUNCT
arjefm-77	403	9	&	&	CCONJ
arjefm-77	403	10	tarazi	tarazi	NOUN
arjefm-77	403	11	,	,	PUNCT
arjefm-77	403	12	a.	a.	NOUN
arjefm-77	403	13	(	(	PUNCT
arjefm-77	403	14	2013	2013	NUM
arjefm-77	403	15	)	)	PUNCT
arjefm-77	403	16	.	.	PUNCT
arjefm-77	404	1	capital	capital	PROPN
arjefm-77	404	2	réglementaire	réglementaire	PROPN
arjefm-77	404	3	et	et	PROPN
arjefm-77	404	4	liquidité	liquidité	VERB
arjefm-77	404	5	des	des	PROPN
arjefm-77	404	6	banques	banques	PROPN
arjefm-77	404	7	:	:	PUNCT
arjefm-77	404	8	preuves	preuves	PROPN
arjefm-77	404	9	des	des	PROPN
arjefm-77	404	10	banques	banques	PROPN
arjefm-77	404	11	américaines	américaines	PROPN
arjefm-77	404	12	et	et	PROPN
arjefm-77	404	13	européennes	européennes	PROPN
arjefm-77	404	14	cotées	cotées	PROPN
arjefm-77	404	15	en	en	ADP
arjefm-77	404	16	bourse	bourse	NOUN
arjefm-77	404	17	.	.	PUNCT
arjefm-77	405	1	journal	journal	NOUN
arjefm-77	405	2	of	of	ADP
arjefm-77	405	3	banking	banking	NOUN
arjefm-77	405	4	&	&	CCONJ
arjefm-77	405	5	finance	finance	PROPN
arjefm-77	405	6	,	,	PUNCT
arjefm-77	405	7	37	37	NUM
arjefm-77	405	8	(	(	PUNCT
arjefm-77	405	9	9	9	NUM
arjefm-77	405	10	)	)	PUNCT
arjefm-77	405	11	,	,	PUNCT
arjefm-77	405	12	3295	3295	NUM
arjefm-77	405	13	-	-	SYM
arjefm-77	405	14	3317	3317	NUM
arjefm-77	405	15	.	.	PUNCT
arjefm-77	406	1	eichengreen	eichengreen	PROPN
arjefm-77	406	2	,	,	PUNCT
arjefm-77	406	3	b.	b.	PROPN
arjefm-77	406	4	,	,	PUNCT
arjefm-77	406	5	&	&	CCONJ
arjefm-77	406	6	arteta	arteta	PROPN
arjefm-77	406	7	,	,	PUNCT
arjefm-77	406	8	c.	c.	PROPN
arjefm-77	406	9	(	(	PUNCT
arjefm-77	406	10	2002	2002	NUM
arjefm-77	406	11	)	)	PUNCT
arjefm-77	406	12	.	.	PUNCT
arjefm-77	407	1	banking	banking	NOUN
arjefm-77	407	2	crises	crisis	NOUN
arjefm-77	407	3	in	in	ADP
arjefm-77	407	4	emerging	emerge	VERB
arjefm-77	407	5	markets	market	NOUN
arjefm-77	407	6	:	:	PUNCT
arjefm-77	407	7	presumptions	presumption	NOUN
arjefm-77	407	8	and	and	CCONJ
arjefm-77	407	9	evidence	evidence	NOUN
arjefm-77	407	10	,	,	PUNCT
arjefm-77	407	11	in	in	ADP
arjefm-77	407	12	m.bleijer	m.bleijer	NOUN
arjefm-77	407	13	and	and	CCONJ
arjefm-77	407	14	m.	m.	NOUN
arjefm-77	407	15	skreb	skreb	PROPN
arjefm-77	407	16	(	(	PUNCT
arjefm-77	407	17	eds	ed	NOUN
arjefm-77	407	18	)	)	PUNCT
arjefm-77	407	19	financial	financial	ADJ
arjefm-77	407	20	policies	policy	NOUN
arjefm-77	407	21	in	in	ADP
arjefm-77	407	22	emerging	emerge	VERB
arjefm-77	407	23	markets	market	NOUN
arjefm-77	407	24	,	,	PUNCT
arjefm-77	407	25	cambridge	cambridge	PROPN
arjefm-77	407	26	,	,	PUNCT
arjefm-77	407	27	ma	ma	PROPN
arjefm-77	407	28	:	:	PUNCT
arjefm-77	407	29	mit	mit	PROPN
arjefm-77	407	30	press	press	NOUN
arjefm-77	407	31	.	.	PUNCT
arjefm-77	408	1	fève	fève	PROPN
arjefm-77	408	2	,	,	PUNCT
arjefm-77	408	3	p.	p.	NOUN
arjefm-77	408	4	,	,	PUNCT
arjefm-77	408	5	moura	moura	PROPN
arjefm-77	408	6	,	,	PUNCT
arjefm-77	408	7	a.	a.	NOUN
arjefm-77	408	8	,	,	PUNCT
arjefm-77	408	9	&	&	CCONJ
arjefm-77	408	10	pierrard	pierrard	ADV
arjefm-77	408	11	,	,	PUNCT
arjefm-77	408	12	o.	o.	PROPN
arjefm-77	408	13	(	(	PUNCT
arjefm-77	408	14	2019	2019	NUM
arjefm-77	408	15	)	)	PUNCT
arjefm-77	408	16	.	.	PUNCT
arjefm-77	409	1	shadow	shadow	PROPN
arjefm-77	409	2	banking	banking	NOUN
arjefm-77	409	3	and	and	CCONJ
arjefm-77	409	4	financial	financial	ADJ
arjefm-77	409	5	regulation	regulation	NOUN
arjefm-77	409	6	:	:	PUNCT
arjefm-77	409	7	a	a	DET
arjefm-77	409	8	small	small	ADJ
arjefm-77	409	9	-	-	PUNCT
arjefm-77	409	10	scale	scale	NOUN
arjefm-77	409	11	dsge	dsge	NOUN
arjefm-77	409	12	perspective	perspective	NOUN
arjefm-77	409	13	.	.	PUNCT
arjefm-77	410	1	journal	journal	NOUN
arjefm-77	410	2	of	of	ADP
arjefm-77	410	3	economic	economic	ADJ
arjefm-77	410	4	dynamics	dynamic	NOUN
arjefm-77	410	5	and	and	CCONJ
arjefm-77	410	6	control	control	NOUN
arjefm-77	410	7	,	,	PUNCT
arjefm-77	410	8	101	101	NUM
arjefm-77	410	9	(	(	PUNCT
arjefm-77	410	10	c	c	NOUN
arjefm-77	410	11	)	)	PUNCT
arjefm-77	410	12	,	,	PUNCT
arjefm-77	410	13	130	130	NUM
arjefm-77	410	14	-	-	SYM
arjefm-77	410	15	144	144	NUM
arjefm-77	410	16	.	.	PUNCT
arjefm-77	411	1	fsb	fsb	NOUN
arjefm-77	411	2	(	(	PUNCT
arjefm-77	411	3	2015	2015	NUM
arjefm-77	411	4	)	)	PUNCT
arjefm-77	411	5	.	.	PUNCT
arjefm-77	412	1	global	global	ADJ
arjefm-77	412	2	shadow	shadow	PROPN
arjefm-77	412	3	banking	banking	NOUN
arjefm-77	412	4	monitoring	monitoring	NOUN
arjefm-77	412	5	report	report	NOUN
arjefm-77	412	6	fu	fu	PROPN
arjefm-77	412	7	,	,	PUNCT
arjefm-77	412	8	x.	x.	PROPN
arjefm-77	412	9	,	,	PUNCT
arjefm-77	412	10	lin	lin	PROPN
arjefm-77	412	11	,	,	PUNCT
arjefm-77	412	12	y.	y.	PROPN
arjefm-77	412	13	,	,	PUNCT
arjefm-77	412	14	&	&	CCONJ
arjefm-77	412	15	molyneux	molyneux	PROPN
arjefm-77	412	16	,	,	PUNCT
arjefm-77	412	17	p.	p.	NOUN
arjefm-77	412	18	(	(	PUNCT
arjefm-77	412	19	2016	2016	NUM
arjefm-77	412	20	)	)	PUNCT
arjefm-77	412	21	.	.	PUNCT
arjefm-77	413	1	bank	bank	NOUN
arjefm-77	413	2	capital	capital	NOUN
arjefm-77	413	3	and	and	CCONJ
arjefm-77	413	4	liquidity	liquidity	NOUN
arjefm-77	413	5	creation	creation	NOUN
arjefm-77	413	6	in	in	ADP
arjefm-77	413	7	asia	asia	PROPN
arjefm-77	413	8	pacific	pacific	PROPN
arjefm-77	413	9	.	.	PUNCT
arjefm-77	414	1	economic	economic	ADJ
arjefm-77	414	2	inquiry	inquiry	NOUN
arjefm-77	414	3	,	,	PUNCT
arjefm-77	414	4	54(2	54(2	NUM
arjefm-77	414	5	)	)	PUNCT
arjefm-77	414	6	,	,	PUNCT
arjefm-77	414	7	966	966	NUM
arjefm-77	414	8	-	-	SYM
arjefm-77	414	9	993	993	NUM
arjefm-77	414	10	.	.	PUNCT
arjefm-77	415	1	fungáčová	fungáčová	PROPN
arjefm-77	415	2	,	,	PUNCT
arjefm-77	415	3	z.	z.	PROPN
arjefm-77	415	4	,	,	PUNCT
arjefm-77	415	5	weill	weill	PROPN
arjefm-77	415	6	,	,	PUNCT
arjefm-77	415	7	l.	l.	PROPN
arjefm-77	415	8	,	,	PUNCT
arjefm-77	415	9	&	&	CCONJ
arjefm-77	415	10	zhou	zhou	PROPN
arjefm-77	415	11	,	,	PUNCT
arjefm-77	415	12	m.	m.	NOUN
arjefm-77	415	13	(	(	PUNCT
arjefm-77	415	14	2010	2010	NUM
arjefm-77	415	15	)	)	PUNCT
arjefm-77	415	16	.	.	PUNCT
arjefm-77	416	1	bank	bank	NOUN
arjefm-77	416	2	capital	capital	NOUN
arjefm-77	416	3	,	,	PUNCT
arjefm-77	416	4	liquidity	liquidity	NOUN
arjefm-77	416	5	creation	creation	NOUN
arjefm-77	416	6	and	and	CCONJ
arjefm-77	416	7	deposit	deposit	NOUN
arjefm-77	416	8	insurance	insurance	NOUN
arjefm-77	416	9	.	.	PUNCT
arjefm-77	417	1	journal	journal	NOUN
arjefm-77	417	2	of	of	ADP
arjefm-77	417	3	financial	financial	ADJ
arjefm-77	417	4	services	service	NOUN
arjefm-77	417	5	research	research	NOUN
arjefm-77	417	6	,	,	PUNCT
arjefm-77	417	7	51(1	51(1	NUM
arjefm-77	417	8	)	)	PUNCT
arjefm-77	417	9	,	,	PUNCT
arjefm-77	417	10	97	97	NUM
arjefm-77	417	11	-	-	SYM
arjefm-77	417	12	123	123	NUM
arjefm-77	417	13	.	.	PUNCT
arjefm-77	418	1	gemayel	gemayel	PROPN
arjefm-77	418	2	,	,	PUNCT
arjefm-77	418	3	r.	r.	PROPN
arjefm-77	418	4	,	,	PUNCT
arjefm-77	418	5	&	&	CCONJ
arjefm-77	418	6	preda	preda	PROPN
arjefm-77	418	7	,	,	PUNCT
arjefm-77	418	8	a.	a.	NOUN
arjefm-77	418	9	(	(	PUNCT
arjefm-77	418	10	2018	2018	NUM
arjefm-77	418	11	)	)	PUNCT
arjefm-77	418	12	.	.	PUNCT
arjefm-77	419	1	does	do	AUX
arjefm-77	419	2	a	a	DET
arjefm-77	419	3	scopic	scopic	ADJ
arjefm-77	419	4	regime	regime	NOUN
arjefm-77	419	5	produce	produce	VERB
arjefm-77	419	6	conformism	conformism	NOUN
arjefm-77	419	7	?	?	PUNCT
arjefm-77	420	1	herding	herd	VERB
arjefm-77	420	2	behavior	behavior	NOUN
arjefm-77	420	3	among	among	ADP
arjefm-77	420	4	trade	trade	NOUN
arjefm-77	420	5	leaders	leader	NOUN
arjefm-77	420	6	on	on	ADP
arjefm-77	420	7	social	social	ADJ
arjefm-77	420	8	trading	trading	NOUN
arjefm-77	420	9	platforms	platform	NOUN
arjefm-77	420	10	.	.	PUNCT
arjefm-77	421	1	the	the	DET
arjefm-77	421	2	european	european	PROPN
arjefm-77	421	3	journal	journal	PROPN
arjefm-77	421	4	of	of	ADP
arjefm-77	421	5	finance	finance	NOUN
arjefm-77	421	6	,	,	PUNCT
arjefm-77	421	7	24(14	24(14	NOUN
arjefm-77	421	8	)	)	PUNCT
arjefm-77	421	9	,	,	PUNCT
arjefm-77	421	10	1144	1144	NUM
arjefm-77	421	11	-	-	SYM
arjefm-77	421	12	1175	1175	NUM
arjefm-77	421	13	.	.	PUNCT
arjefm-77	422	1	gfdd	gfdd	NOUN
arjefm-77	422	2	(	(	PUNCT
arjefm-77	422	3	2020	2020	NUM
arjefm-77	422	4	)	)	PUNCT
arjefm-77	422	5	.	.	PUNCT
arjefm-77	423	1	global	global	ADJ
arjefm-77	423	2	financial	financial	PROPN
arjefm-77	423	3	development	development	PROPN
arjefm-77	423	4	data	data	PROPN
arjefm-77	423	5	gonzalez	gonzalez	PROPN
arjefm-77	423	6	,	,	PUNCT
arjefm-77	423	7	a.	a.	PROPN
arjefm-77	423	8	,	,	PUNCT
arjefm-77	423	9	teräsvirta	teräsvirta	PROPN
arjefm-77	423	10	,	,	PUNCT
arjefm-77	423	11	t.	t.	PROPN
arjefm-77	423	12	,	,	PUNCT
arjefm-77	423	13	&	&	CCONJ
arjefm-77	423	14	van	van	PROPN
arjefm-77	423	15	dijk	dijk	PROPN
arjefm-77	423	16	,	,	PUNCT
arjefm-77	423	17	d.	d.	PROPN
arjefm-77	423	18	(	(	PUNCT
arjefm-77	423	19	2005	2005	NUM
arjefm-77	423	20	)	)	PUNCT
arjefm-77	423	21	.	.	PUNCT
arjefm-77	424	1	panel	panel	NOUN
arjefm-77	424	2	smooth	smooth	ADJ
arjefm-77	424	3	transition	transition	NOUN
arjefm-77	424	4	regression	regression	NOUN
arjefm-77	424	5	models	model	NOUN
arjefm-77	424	6	.	.	PUNCT
arjefm-77	424	7	”	"	PUNCT
arjefm-77	425	1	sse	sse	PROPN
arjefm-77	425	2	/	/	SYM
arjefm-77	425	3	efi	efi	PROPN
arjefm-77	425	4	working	working	PROPN
arjefm-77	425	5	paper	paper	NOUN
arjefm-77	425	6	series	series	NOUN
arjefm-77	425	7	in	in	ADP
arjefm-77	425	8	economics	economic	NOUN
arjefm-77	425	9	and	and	CCONJ
arjefm-77	425	10	finance	finance	NOUN
arjefm-77	425	11	604	604	NUM
arjefm-77	425	12	gonzález	gonzález	PROPN
arjefm-77	425	13	,	,	PUNCT
arjefm-77	425	14	l.	l.	PROPN
arjefm-77	425	15	o.	o.	PROPN
arjefm-77	425	16	,	,	PUNCT
arjefm-77	425	17	gil	gil	PROPN
arjefm-77	425	18	,	,	PUNCT
arjefm-77	425	19	l.	l.	PROPN
arjefm-77	425	20	i.	i.	PROPN
arjefm-77	425	21	r.	r.	PROPN
arjefm-77	425	22	,	,	PUNCT
arjefm-77	425	23	cunill	cunill	NOUN
arjefm-77	425	24	,	,	PUNCT
arjefm-77	425	25	o.	o.	PROPN
arjefm-77	425	26	m.	m.	NOUN
arjefm-77	425	27	,	,	PUNCT
arjefm-77	425	28	&	&	CCONJ
arjefm-77	425	29	lindahl	lindahl	PROPN
arjefm-77	425	30	,	,	PUNCT
arjefm-77	425	31	j.	j.	PROPN
arjefm-77	425	32	m.	m.	PROPN
arjefm-77	425	33	m.	m.	PROPN
arjefm-77	425	34	(	(	PUNCT
arjefm-77	425	35	2016	2016	NUM
arjefm-77	425	36	)	)	PUNCT
arjefm-77	425	37	.	.	PUNCT
arjefm-77	426	1	the	the	DET
arjefm-77	426	2	effect	effect	NOUN
arjefm-77	426	3	of	of	ADP
arjefm-77	426	4	financial	financial	ADJ
arjefm-77	426	5	innovation	innovation	NOUN
arjefm-77	426	6	on	on	ADP
arjefm-77	426	7	european	european	ADJ
arjefm-77	426	8	banks	bank	NOUN
arjefm-77	426	9	'	'	PART
arjefm-77	426	10	risk	risk	NOUN
arjefm-77	426	11	.	.	PUNCT
arjefm-77	427	1	journal	journal	NOUN
arjefm-77	427	2	of	of	ADP
arjefm-77	427	3	business	business	NOUN
arjefm-77	427	4	research	research	NOUN
arjefm-77	427	5	,	,	PUNCT
arjefm-77	427	6	69(11	69(11	NOUN
arjefm-77	427	7	)	)	PUNCT
arjefm-77	427	8	,	,	PUNCT
arjefm-77	427	9	4781	4781	NUM
arjefm-77	427	10	-	-	SYM
arjefm-77	427	11	4786	4786	NUM
arjefm-77	427	12	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	427	13	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	428	1	american	american	PROPN
arjefm-77	428	2	research	research	PROPN
arjefm-77	428	3	journal	journal	PROPN
arjefm-77	428	4	of	of	ADP
arjefm-77	428	5	economics	economic	NOUN
arjefm-77	428	6	,	,	PUNCT
arjefm-77	428	7	finance	finance	NOUN
arjefm-77	428	8	and	and	CCONJ
arjefm-77	428	9	management	management	NOUN
arjefm-77	428	10	volume	volume	NOUN
arjefm-77	428	11	11	11	NUM
arjefm-77	428	12	issue	issue	NOUN
arjefm-77	428	13	1	1	NUM
arjefm-77	428	14	,	,	PUNCT
arjefm-77	428	15	january	january	PROPN
arjefm-77	428	16	-	-	PUNCT
arjefm-77	428	17	march	march	PROPN
arjefm-77	428	18	2023	2023	NUM
arjefm-77	428	19	issn	issn	NOUN
arjefm-77	428	20	:	:	PUNCT
arjefm-77	428	21	2836	2836	NUM
arjefm-77	428	22	-	-	SYM
arjefm-77	428	23	9416	9416	NUM
arjefm-77	428	24	impact	impact	NOUN
arjefm-77	428	25	factor	factor	NOUN
arjefm-77	428	26	:	:	PUNCT
arjefm-77	428	27	5.57	5.57	NUM
arjefm-77	428	28	journal	journal	NOUN
arjefm-77	428	29	homepage	homepage	NOUN
arjefm-77	428	30	:	:	PUNCT
arjefm-77	428	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	428	32	,	,	PUNCT
arjefm-77	428	33	email	email	NOUN
arjefm-77	428	34	:	:	PUNCT
arjefm-77	429	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-77	429	2	official	official	ADJ
arjefm-77	429	3	journal	journal	PROPN
arjefm-77	429	4	of	of	ADP
arjefm-77	429	5	america	america	PROPN
arjefm-77	429	6	serial	serial	PROPN
arjefm-77	429	7	publication	publication	NOUN
arjefm-77	429	8	american	american	PROPN
arjefm-77	429	9	research	research	PROPN
arjefm-77	429	10	journal	journal	PROPN
arjefm-77	429	11	of	of	ADP
arjefm-77	429	12	economics	economic	NOUN
arjefm-77	429	13	,	,	PUNCT
arjefm-77	429	14	finance	finance	NOUN
arjefm-77	429	15	and	and	CCONJ
arjefm-77	429	16	management	management	NOUN
arjefm-77	429	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	429	18	,	,	PUNCT
arjefm-77	429	19	email	email	NOUN
arjefm-77	429	20	:	:	PUNCT
arjefm-77	429	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	430	1	46	46	NUM
arjefm-77	431	1	|	|	ADV
arjefm-77	431	2	p	p	X
arjefm-77	431	3	a	a	DET
arjefm-77	431	4	g	g	PROPN
arjefm-77	431	5	e	e	PROPN
arjefm-77	431	6	gorton	gorton	PROPN
arjefm-77	431	7	,	,	PUNCT
arjefm-77	431	8	g.	g.	PROPN
arjefm-77	431	9	,	,	PUNCT
arjefm-77	431	10	&	&	CCONJ
arjefm-77	431	11	winton	winton	PROPN
arjefm-77	431	12	,	,	PUNCT
arjefm-77	431	13	a.	a.	NOUN
arjefm-77	431	14	(	(	PUNCT
arjefm-77	431	15	2017	2017	NUM
arjefm-77	431	16	)	)	PUNCT
arjefm-77	431	17	.	.	PUNCT
arjefm-77	432	1	liquidity	liquidity	NOUN
arjefm-77	432	2	provision	provision	NOUN
arjefm-77	432	3	,	,	PUNCT
arjefm-77	432	4	bank	bank	NOUN
arjefm-77	432	5	capital	capital	NOUN
arjefm-77	432	6	,	,	PUNCT
arjefm-77	432	7	and	and	CCONJ
arjefm-77	432	8	the	the	DET
arjefm-77	432	9	macroeconomy	macroeconomy	NOUN
arjefm-77	432	10	.	.	PUNCT
arjefm-77	433	1	journal	journal	PROPN
arjefm-77	433	2	of	of	ADP
arjefm-77	433	3	money	money	NOUN
arjefm-77	433	4	,	,	PUNCT
arjefm-77	433	5	credit	credit	NOUN
arjefm-77	433	6	and	and	CCONJ
arjefm-77	433	7	banking	banking	NOUN
arjefm-77	433	8	,	,	PUNCT
arjefm-77	433	9	49(1	49(1	NOUN
arjefm-77	433	10	)	)	PUNCT
arjefm-77	433	11	,	,	PUNCT
arjefm-77	433	12	5	5	NUM
arjefm-77	433	13	-	-	SYM
arjefm-77	433	14	37	37	NUM
arjefm-77	433	15	.	.	PUNCT
arjefm-77	434	1	granger	granger	PROPN
arjefm-77	434	2	,	,	PUNCT
arjefm-77	434	3	c.	c.	PROPN
arjefm-77	434	4	,	,	PUNCT
arjefm-77	434	5	&	&	CCONJ
arjefm-77	434	6	teräsvirta	teräsvirta	PROPN
arjefm-77	434	7	,	,	PUNCT
arjefm-77	434	8	t.	t.	PROPN
arjefm-77	434	9	(	(	PUNCT
arjefm-77	434	10	1993	1993	NUM
arjefm-77	434	11	)	)	PUNCT
arjefm-77	434	12	.	.	PUNCT
arjefm-77	435	1	modelling	model	VERB
arjefm-77	435	2	non	non	ADJ
arjefm-77	435	3	linear	linear	PROPN
arjefm-77	435	4	economic	economic	ADJ
arjefm-77	435	5	relationship	relationship	NOUN
arjefm-77	435	6	.	.	PUNCT
arjefm-77	436	1	oxford	oxford	PROPN
arjefm-77	436	2	university	university	PROPN
arjefm-77	436	3	press	press	NOUN
arjefm-77	436	4	.	.	PUNCT
arjefm-77	437	1	hakimi	hakimi	PROPN
arjefm-77	437	2	,	,	PUNCT
arjefm-77	437	3	a.	a.	NOUN
arjefm-77	437	4	,	,	PUNCT
arjefm-77	437	5	&	&	CCONJ
arjefm-77	437	6	zaghdoudi	zaghdoudi	PROPN
arjefm-77	437	7	,	,	PUNCT
arjefm-77	437	8	k.	k.	PROPN
arjefm-77	437	9	(	(	PUNCT
arjefm-77	437	10	2017	2017	NUM
arjefm-77	437	11	)	)	PUNCT
arjefm-77	437	12	.	.	PUNCT
arjefm-77	438	1	liquidity	liquidity	NOUN
arjefm-77	438	2	risk	risk	NOUN
arjefm-77	438	3	and	and	CCONJ
arjefm-77	438	4	bank	bank	NOUN
arjefm-77	438	5	performance	performance	NOUN
arjefm-77	438	6	:	:	PUNCT
arjefm-77	438	7	an	an	DET
arjefm-77	438	8	empirical	empirical	ADJ
arjefm-77	438	9	test	test	NOUN
arjefm-77	438	10	for	for	ADP
arjefm-77	438	11	tunisian	tunisian	ADJ
arjefm-77	438	12	banks	bank	NOUN
arjefm-77	438	13	.	.	PUNCT
arjefm-77	439	1	business	business	NOUN
arjefm-77	439	2	and	and	CCONJ
arjefm-77	439	3	economic	economic	ADJ
arjefm-77	439	4	research	research	NOUN
arjefm-77	439	5	,	,	PUNCT
arjefm-77	439	6	7(1	7(1	NUM
arjefm-77	439	7	)	)	PUNCT
arjefm-77	439	8	,	,	PUNCT
arjefm-77	439	9	46	46	NUM
arjefm-77	439	10	-	-	SYM
arjefm-77	439	11	57	57	NUM
arjefm-77	439	12	.	.	PUNCT
arjefm-77	440	1	hansen	hansen	PROPN
arjefm-77	440	2	,	,	PUNCT
arjefm-77	440	3	b.	b.	PROPN
arjefm-77	440	4	e.	e.	PROPN
arjefm-77	440	5	(	(	PUNCT
arjefm-77	440	6	1999	1999	NUM
arjefm-77	440	7	)	)	PUNCT
arjefm-77	440	8	.	.	PUNCT
arjefm-77	441	1	threshold	threshold	NOUN
arjefm-77	441	2	effects	effect	NOUN
arjefm-77	441	3	in	in	ADP
arjefm-77	441	4	non	non	ADJ
arjefm-77	441	5	-	-	ADJ
arjefm-77	441	6	dynamic	dynamic	ADJ
arjefm-77	441	7	panels	panel	NOUN
arjefm-77	441	8	:	:	PUNCT
arjefm-77	441	9	estimation	estimation	NOUN
arjefm-77	441	10	,	,	PUNCT
arjefm-77	441	11	testing	testing	NOUN
arjefm-77	441	12	,	,	PUNCT
arjefm-77	441	13	and	and	CCONJ
arjefm-77	441	14	inference	inference	NOUN
arjefm-77	441	15	.	.	PUNCT
arjefm-77	442	1	journal	journal	PROPN
arjefm-77	442	2	of	of	ADP
arjefm-77	442	3	econometrics	econometric	NOUN
arjefm-77	442	4	,	,	PUNCT
arjefm-77	442	5	93(2	93(2	NOUN
arjefm-77	442	6	)	)	PUNCT
arjefm-77	442	7	,	,	PUNCT
arjefm-77	442	8	345	345	NUM
arjefm-77	442	9	-	-	SYM
arjefm-77	442	10	368	368	NUM
arjefm-77	442	11	.	.	PUNCT
arjefm-77	443	1	harutyunyan	harutyunyan	PROPN
arjefm-77	443	2	,	,	PUNCT
arjefm-77	443	3	a.	a.	PROPN
arjefm-77	443	4	,	,	PUNCT
arjefm-77	443	5	massara	massara	PROPN
arjefm-77	443	6	,	,	PUNCT
arjefm-77	443	7	m.	m.	NOUN
arjefm-77	443	8	a.	a.	PROPN
arjefm-77	443	9	,	,	PUNCT
arjefm-77	443	10	ugazio	ugazio	PROPN
arjefm-77	443	11	,	,	PUNCT
arjefm-77	443	12	g.	g.	PROPN
arjefm-77	443	13	,	,	PUNCT
arjefm-77	443	14	amidzic	amidzic	PROPN
arjefm-77	443	15	,	,	PUNCT
arjefm-77	443	16	g.	g.	PROPN
arjefm-77	443	17	,	,	PUNCT
arjefm-77	443	18	&	&	CCONJ
arjefm-77	443	19	walton	walton	PROPN
arjefm-77	443	20	,	,	PUNCT
arjefm-77	443	21	r.	r.	PROPN
arjefm-77	443	22	(	(	PUNCT
arjefm-77	443	23	2015	2015	NUM
arjefm-77	443	24	)	)	PUNCT
arjefm-77	443	25	.	.	PUNCT
arjefm-77	444	1	shedding	shed	VERB
arjefm-77	444	2	light	light	NOUN
arjefm-77	444	3	on	on	ADP
arjefm-77	444	4	shadow	shadow	NOUN
arjefm-77	444	5	banking	banking	NOUN
arjefm-77	444	6	.	.	PUNCT
arjefm-77	445	1	international	international	ADJ
arjefm-77	445	2	monetary	monetary	ADJ
arjefm-77	445	3	fund	fund	PROPN
arjefm-77	445	4	.	.	PUNCT
arjefm-77	446	1	horváth	horváth	PROPN
arjefm-77	446	2	,	,	PUNCT
arjefm-77	446	3	r.	r.	PROPN
arjefm-77	446	4	,	,	PUNCT
arjefm-77	446	5	seidler	seidler	NOUN
arjefm-77	446	6	,	,	PUNCT
arjefm-77	446	7	j.	j.	PROPN
arjefm-77	446	8	,	,	PUNCT
arjefm-77	446	9	&	&	CCONJ
arjefm-77	446	10	weill	weill	PROPN
arjefm-77	446	11	,	,	PUNCT
arjefm-77	446	12	l.	l.	PROPN
arjefm-77	446	13	(	(	PUNCT
arjefm-77	446	14	2014	2014	NUM
arjefm-77	446	15	)	)	PUNCT
arjefm-77	446	16	.	.	PUNCT
arjefm-77	447	1	bank	bank	NOUN
arjefm-77	447	2	capital	capital	NOUN
arjefm-77	447	3	and	and	CCONJ
arjefm-77	447	4	liquidity	liquidity	NOUN
arjefm-77	447	5	creation	creation	NOUN
arjefm-77	447	6	:	:	PUNCT
arjefm-77	447	7	granger	granger	NOUN
arjefm-77	447	8	-	-	PUNCT
arjefm-77	447	9	causality	causality	NOUN
arjefm-77	447	10	evidence	evidence	NOUN
arjefm-77	447	11	.	.	PUNCT
arjefm-77	448	1	journal	journal	NOUN
arjefm-77	448	2	of	of	ADP
arjefm-77	448	3	financial	financial	ADJ
arjefm-77	448	4	services	service	NOUN
arjefm-77	448	5	research	research	NOUN
arjefm-77	448	6	,	,	PUNCT
arjefm-77	448	7	45(3	45(3	NUM
arjefm-77	448	8	)	)	PUNCT
arjefm-77	448	9	,	,	PUNCT
arjefm-77	448	10	341	341	NUM
arjefm-77	448	11	-	-	SYM
arjefm-77	448	12	361	361	NUM
arjefm-77	448	13	.	.	PUNCT
arjefm-77	449	1	hsieh	hsieh	PROPN
arjefm-77	449	2	,	,	PUNCT
arjefm-77	449	3	m.	m.	PROPN
arjefm-77	449	4	f.	f.	PROPN
arjefm-77	449	5	,	,	PUNCT
arjefm-77	449	6	lee	lee	PROPN
arjefm-77	449	7	,	,	PUNCT
arjefm-77	449	8	c.	c.	PROPN
arjefm-77	449	9	c.	c.	PROPN
arjefm-77	449	10	,	,	PUNCT
arjefm-77	449	11	&	&	CCONJ
arjefm-77	449	12	lin	lin	PROPN
arjefm-77	449	13	,	,	PUNCT
arjefm-77	449	14	y.	y.	PROPN
arjefm-77	449	15	c.	c.	PROPN
arjefm-77	449	16	(	(	PUNCT
arjefm-77	449	17	2022	2022	NUM
arjefm-77	449	18	)	)	PUNCT
arjefm-77	449	19	.	.	PUNCT
arjefm-77	450	1	new	new	ADJ
arjefm-77	450	2	evidence	evidence	NOUN
arjefm-77	450	3	on	on	ADP
arjefm-77	450	4	liquidity	liquidity	NOUN
arjefm-77	450	5	creation	creation	NOUN
arjefm-77	450	6	and	and	CCONJ
arjefm-77	450	7	bank	bank	NOUN
arjefm-77	450	8	capital	capital	NOUN
arjefm-77	450	9	:	:	PUNCT
arjefm-77	450	10	the	the	DET
arjefm-77	450	11	roles	role	NOUN
arjefm-77	450	12	of	of	ADP
arjefm-77	450	13	liquidity	liquidity	NOUN
arjefm-77	450	14	and	and	CCONJ
arjefm-77	450	15	political	political	ADJ
arjefm-77	450	16	risk	risk	NOUN
arjefm-77	450	17	.	.	PUNCT
arjefm-77	451	1	economic	economic	ADJ
arjefm-77	451	2	analysis	analysis	NOUN
arjefm-77	451	3	and	and	CCONJ
arjefm-77	451	4	policy	policy	NOUN
arjefm-77	451	5	,	,	PUNCT
arjefm-77	451	6	73	73	NUM
arjefm-77	451	7	,	,	PUNCT
arjefm-77	451	8	778	778	NUM
arjefm-77	451	9	-	-	SYM
arjefm-77	451	10	794	794	NUM
arjefm-77	451	11	.	.	PUNCT
arjefm-77	452	1	ibarra	ibarra	PROPN
arjefm-77	452	2	,	,	PUNCT
arjefm-77	452	3	r.	r.	PROPN
arjefm-77	452	4	,	,	PUNCT
arjefm-77	452	5	&	&	CCONJ
arjefm-77	452	6	trupkin	trupkin	PROPN
arjefm-77	452	7	,	,	PUNCT
arjefm-77	452	8	d.	d.	PROPN
arjefm-77	452	9	(	(	PUNCT
arjefm-77	452	10	2011	2011	NUM
arjefm-77	452	11	)	)	PUNCT
arjefm-77	452	12	.	.	PUNCT
arjefm-77	453	1	the	the	DET
arjefm-77	453	2	relationship	relationship	NOUN
arjefm-77	453	3	between	between	ADP
arjefm-77	453	4	inflation	inflation	NOUN
arjefm-77	453	5	and	and	CCONJ
arjefm-77	453	6	growth	growth	NOUN
arjefm-77	453	7	:	:	PUNCT
arjefm-77	453	8	a	a	DET
arjefm-77	453	9	panel	panel	NOUN
arjefm-77	453	10	smooth	smooth	ADJ
arjefm-77	453	11	transition	transition	NOUN
arjefm-77	453	12	regression	regression	NOUN
arjefm-77	453	13	approach	approach	NOUN
arjefm-77	453	14	.	.	PUNCT
arjefm-77	454	1	research	research	NOUN
arjefm-77	454	2	network	network	NOUN
arjefm-77	454	3	and	and	CCONJ
arjefm-77	454	4	research	research	NOUN
arjefm-77	454	5	centers	center	NOUN
arjefm-77	454	6	program	program	NOUN
arjefm-77	454	7	of	of	ADP
arjefm-77	454	8	banco	banco	PROPN
arjefm-77	454	9	central	central	PROPN
arjefm-77	454	10	(	(	PUNCT
arjefm-77	454	11	working	working	NOUN
arjefm-77	454	12	paper	paper	NOUN
arjefm-77	454	13	)	)	PUNCT
arjefm-77	454	14	.	.	PUNCT
arjefm-77	455	1	irani	irani	PROPN
arjefm-77	455	2	,	,	PUNCT
arjefm-77	455	3	r.	r.	PROPN
arjefm-77	455	4	m.	m.	PROPN
arjefm-77	455	5	,	,	PUNCT
arjefm-77	455	6	iyer	iyer	PROPN
arjefm-77	455	7	,	,	PUNCT
arjefm-77	455	8	r.	r.	PROPN
arjefm-77	455	9	,	,	PUNCT
arjefm-77	455	10	meisenzahl	meisenzahl	PROPN
arjefm-77	455	11	,	,	PUNCT
arjefm-77	455	12	r.	r.	PROPN
arjefm-77	455	13	r.	r.	PROPN
arjefm-77	455	14	,	,	PUNCT
arjefm-77	455	15	&	&	CCONJ
arjefm-77	455	16	peydro	peydro	PROPN
arjefm-77	455	17	,	,	PUNCT
arjefm-77	455	18	j.	j.	PROPN
arjefm-77	455	19	l.	l.	PROPN
arjefm-77	455	20	(	(	PUNCT
arjefm-77	455	21	2021	2021	NUM
arjefm-77	455	22	)	)	PUNCT
arjefm-77	455	23	.	.	PUNCT
arjefm-77	456	1	the	the	DET
arjefm-77	456	2	rise	rise	NOUN
arjefm-77	456	3	of	of	ADP
arjefm-77	456	4	shadow	shadow	NOUN
arjefm-77	456	5	banking	banking	NOUN
arjefm-77	456	6	:	:	PUNCT
arjefm-77	456	7	evidence	evidence	NOUN
arjefm-77	456	8	from	from	ADP
arjefm-77	456	9	capital	capital	NOUN
arjefm-77	456	10	regulation	regulation	NOUN
arjefm-77	456	11	.	.	PUNCT
arjefm-77	457	1	the	the	DET
arjefm-77	457	2	review	review	NOUN
arjefm-77	457	3	of	of	ADP
arjefm-77	457	4	financial	financial	ADJ
arjefm-77	457	5	studies	study	NOUN
arjefm-77	457	6	,	,	PUNCT
arjefm-77	457	7	34(5	34(5	PROPN
arjefm-77	457	8	)	)	PUNCT
arjefm-77	457	9	,	,	PUNCT
arjefm-77	457	10	2181	2181	NUM
arjefm-77	457	11	-	-	SYM
arjefm-77	457	12	2235	2235	NUM
arjefm-77	457	13	.	.	PUNCT
arjefm-77	458	1	jansen	jansen	PROPN
arjefm-77	458	2	,	,	PUNCT
arjefm-77	458	3	e.	e.	PROPN
arjefm-77	458	4	,	,	PUNCT
arjefm-77	458	5	&	&	CCONJ
arjefm-77	458	6	teräsvirta	teräsvirta	PROPN
arjefm-77	458	7	,	,	PUNCT
arjefm-77	458	8	t.	t.	PROPN
arjefm-77	458	9	(	(	PUNCT
arjefm-77	458	10	1996	1996	NUM
arjefm-77	458	11	)	)	PUNCT
arjefm-77	458	12	.	.	PUNCT
arjefm-77	459	1	testing	testing	NOUN
arjefm-77	459	2	parameter	parameter	PROPN
arjefm-77	459	3	constancy	constancy	NOUN
arjefm-77	459	4	and	and	CCONJ
arjefm-77	459	5	super	super	ADJ
arjefm-77	459	6	exogeneity	exogeneity	NOUN
arjefm-77	459	7	in	in	ADP
arjefm-77	459	8	econometric	econometric	ADJ
arjefm-77	459	9	equations	equation	NOUN
arjefm-77	459	10	.	.	PUNCT
arjefm-77	460	1	oxford	oxford	ADJ
arjefm-77	460	2	bulletin	bulletin	NOUN
arjefm-77	460	3	of	of	ADP
arjefm-77	460	4	economics	economic	NOUN
arjefm-77	460	5	and	and	CCONJ
arjefm-77	460	6	statistics	statistic	NOUN
arjefm-77	460	7	,	,	PUNCT
arjefm-77	460	8	58	58	NUM
arjefm-77	460	9	,	,	PUNCT
arjefm-77	460	10	735	735	NUM
arjefm-77	460	11	-	-	SYM
arjefm-77	460	12	763	763	NUM
arjefm-77	460	13	.	.	PUNCT
arjefm-77	461	1	jun	jun	PROPN
arjefm-77	461	2	,	,	PUNCT
arjefm-77	461	3	s.	s.	PROPN
arjefm-77	461	4	g.	g.	PROPN
arjefm-77	461	5	,	,	PUNCT
arjefm-77	461	6	marathe	marathe	PROPN
arjefm-77	461	7	,	,	PUNCT
arjefm-77	461	8	a.	a.	NOUN
arjefm-77	461	9	,	,	PUNCT
arjefm-77	461	10	&	&	CCONJ
arjefm-77	461	11	shawky	shawky	PROPN
arjefm-77	461	12	,	,	PUNCT
arjefm-77	461	13	h.	h.	PROPN
arjefm-77	461	14	a.	a.	PROPN
arjefm-77	461	15	(	(	PUNCT
arjefm-77	461	16	2003	2003	NUM
arjefm-77	461	17	)	)	PUNCT
arjefm-77	461	18	.	.	PUNCT
arjefm-77	462	1	liquidity	liquidity	NOUN
arjefm-77	462	2	and	and	CCONJ
arjefm-77	462	3	stock	stock	NOUN
arjefm-77	462	4	returns	return	NOUN
arjefm-77	462	5	in	in	ADP
arjefm-77	462	6	emerging	emerge	VERB
arjefm-77	462	7	equity	equity	NOUN
arjefm-77	462	8	markets	market	NOUN
arjefm-77	462	9	.	.	PUNCT
arjefm-77	463	1	emerging	emerge	VERB
arjefm-77	463	2	markets	market	NOUN
arjefm-77	463	3	review	review	VERB
arjefm-77	463	4	,	,	PUNCT
arjefm-77	463	5	4(1	4(1	NOUN
arjefm-77	463	6	)	)	PUNCT
arjefm-77	463	7	,	,	PUNCT
arjefm-77	463	8	1	1	NUM
arjefm-77	463	9	-	-	SYM
arjefm-77	463	10	24	24	NUM
arjefm-77	463	11	.	.	PUNCT
arjefm-77	464	1	kanga	kanga	PROPN
arjefm-77	464	2	,	,	PUNCT
arjefm-77	464	3	d.	d.	PROPN
arjefm-77	464	4	,	,	PUNCT
arjefm-77	464	5	murinde	murinde	NOUN
arjefm-77	464	6	,	,	PUNCT
arjefm-77	464	7	v.	v.	PROPN
arjefm-77	464	8	,	,	PUNCT
arjefm-77	464	9	&	&	CCONJ
arjefm-77	464	10	soumaré	soumaré	PROPN
arjefm-77	464	11	,	,	PUNCT
arjefm-77	464	12	i.	i.	PROPN
arjefm-77	464	13	(	(	PUNCT
arjefm-77	464	14	2021	2021	NUM
arjefm-77	464	15	)	)	PUNCT
arjefm-77	464	16	.	.	PUNCT
arjefm-77	465	1	how	how	SCONJ
arjefm-77	465	2	has	have	AUX
arjefm-77	465	3	the	the	DET
arjefm-77	465	4	rise	rise	NOUN
arjefm-77	465	5	of	of	ADP
arjefm-77	465	6	pan	pan	ADJ
arjefm-77	465	7	-	-	ADJ
arjefm-77	465	8	african	african	ADJ
arjefm-77	465	9	banks	bank	NOUN
arjefm-77	465	10	impacted	impact	VERB
arjefm-77	465	11	bank	bank	NOUN
arjefm-77	465	12	stability	stability	NOUN
arjefm-77	465	13	in	in	ADP
arjefm-77	465	14	waemu	waemu	PROPN
arjefm-77	465	15	?	?	PUNCT
arjefm-77	466	1	journal	journal	NOUN
arjefm-77	466	2	of	of	ADP
arjefm-77	466	3	international	international	ADJ
arjefm-77	466	4	financial	financial	ADJ
arjefm-77	466	5	markets	market	NOUN
arjefm-77	466	6	,	,	PUNCT
arjefm-77	466	7	institutions	institution	NOUN
arjefm-77	466	8	and	and	CCONJ
arjefm-77	466	9	money	money	NOUN
arjefm-77	466	10	,	,	PUNCT
arjefm-77	466	11	73	73	NUM
arjefm-77	466	12	,	,	PUNCT
arjefm-77	466	13	101364	101364	NUM
arjefm-77	466	14	.	.	PUNCT
arjefm-77	467	1	keys	key	NOUN
arjefm-77	467	2	,	,	PUNCT
arjefm-77	467	3	b.	b.	PROPN
arjefm-77	467	4	j.	j.	PROPN
arjefm-77	467	5	,	,	PUNCT
arjefm-77	467	6	mukherjee	mukherjee	PROPN
arjefm-77	467	7	,	,	PUNCT
arjefm-77	467	8	t.	t.	PROPN
arjefm-77	467	9	,	,	PUNCT
arjefm-77	467	10	seru	seru	PROPN
arjefm-77	467	11	,	,	PUNCT
arjefm-77	467	12	a.	a.	PROPN
arjefm-77	467	13	,	,	PUNCT
arjefm-77	467	14	&	&	CCONJ
arjefm-77	467	15	vig	vig	PROPN
arjefm-77	467	16	,	,	PUNCT
arjefm-77	467	17	v.	v.	PROPN
arjefm-77	467	18	(	(	PUNCT
arjefm-77	467	19	2009	2009	NUM
arjefm-77	467	20	)	)	PUNCT
arjefm-77	467	21	.	.	PUNCT
arjefm-77	468	1	financial	financial	ADJ
arjefm-77	468	2	regulation	regulation	NOUN
arjefm-77	468	3	and	and	CCONJ
arjefm-77	468	4	securitization	securitization	NOUN
arjefm-77	468	5	:	:	PUNCT
arjefm-77	468	6	evidence	evidence	NOUN
arjefm-77	468	7	from	from	ADP
arjefm-77	468	8	subprime	subprime	ADJ
arjefm-77	468	9	loans	loan	NOUN
arjefm-77	468	10	.	.	PUNCT
arjefm-77	469	1	journal	journal	NOUN
arjefm-77	469	2	of	of	ADP
arjefm-77	469	3	monetary	monetary	ADJ
arjefm-77	469	4	economics	economic	NOUN
arjefm-77	469	5	,	,	PUNCT
arjefm-77	469	6	56(5	56(5	NOUN
arjefm-77	469	7	)	)	PUNCT
arjefm-77	469	8	,	,	PUNCT
arjefm-77	469	9	700	700	NUM
arjefm-77	469	10	-	-	SYM
arjefm-77	469	11	720	720	NUM
arjefm-77	469	12	.	.	PUNCT
arjefm-77	470	1	kirilenko	kirilenko	PROPN
arjefm-77	470	2	,	,	PUNCT
arjefm-77	470	3	a.	a.	NOUN
arjefm-77	470	4	a.	a.	PROPN
arjefm-77	470	5	,	,	PUNCT
arjefm-77	470	6	&	&	CCONJ
arjefm-77	470	7	lo	lo	PROPN
arjefm-77	470	8	,	,	PUNCT
arjefm-77	470	9	a.	a.	PROPN
arjefm-77	470	10	w.	w.	PROPN
arjefm-77	470	11	(	(	PUNCT
arjefm-77	470	12	2013	2013	NUM
arjefm-77	470	13	)	)	PUNCT
arjefm-77	470	14	.	.	PUNCT
arjefm-77	471	1	moore	moore	PROPN
arjefm-77	471	2	's	's	PART
arjefm-77	471	3	law	law	PROPN
arjefm-77	471	4	versus	versus	ADP
arjefm-77	471	5	murphy	murphy	PROPN
arjefm-77	471	6	's	's	PART
arjefm-77	471	7	law	law	NOUN
arjefm-77	471	8	:	:	PUNCT
arjefm-77	471	9	algorithmic	algorithmic	ADJ
arjefm-77	471	10	trading	trading	NOUN
arjefm-77	471	11	and	and	CCONJ
arjefm-77	471	12	its	its	PRON
arjefm-77	471	13	discontents	discontent	NOUN
arjefm-77	471	14	.	.	PUNCT
arjefm-77	472	1	journal	journal	NOUN
arjefm-77	472	2	of	of	ADP
arjefm-77	472	3	economic	economic	ADJ
arjefm-77	472	4	perspectives	perspective	NOUN
arjefm-77	472	5	,	,	PUNCT
arjefm-77	472	6	27(2	27(2	NUM
arjefm-77	472	7	)	)	PUNCT
arjefm-77	472	8	,	,	PUNCT
arjefm-77	472	9	51	51	NUM
arjefm-77	472	10	-	-	SYM
arjefm-77	472	11	72	72	NUM
arjefm-77	472	12	.	.	PUNCT
arjefm-77	473	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-77	473	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	474	1	american	american	PROPN
arjefm-77	474	2	research	research	PROPN
arjefm-77	474	3	journal	journal	PROPN
arjefm-77	474	4	of	of	ADP
arjefm-77	474	5	economics	economic	NOUN
arjefm-77	474	6	,	,	PUNCT
arjefm-77	474	7	finance	finance	NOUN
arjefm-77	474	8	and	and	CCONJ
arjefm-77	474	9	management	management	NOUN
arjefm-77	474	10	volume	volume	NOUN
arjefm-77	474	11	11	11	NUM
arjefm-77	474	12	issue	issue	NOUN
arjefm-77	474	13	1	1	NUM
arjefm-77	474	14	,	,	PUNCT
arjefm-77	474	15	january	january	PROPN
arjefm-77	474	16	-	-	PUNCT
arjefm-77	474	17	march	march	PROPN
arjefm-77	474	18	2023	2023	NUM
arjefm-77	474	19	issn	issn	NOUN
arjefm-77	474	20	:	:	PUNCT
arjefm-77	474	21	2836	2836	NUM
arjefm-77	474	22	-	-	SYM
arjefm-77	474	23	9416	9416	NUM
arjefm-77	474	24	impact	impact	NOUN
arjefm-77	474	25	factor	factor	NOUN
arjefm-77	474	26	:	:	PUNCT
arjefm-77	474	27	5.57	5.57	NUM
arjefm-77	474	28	journal	journal	NOUN
arjefm-77	474	29	homepage	homepage	NOUN
arjefm-77	474	30	:	:	PUNCT
arjefm-77	474	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	474	32	,	,	PUNCT
arjefm-77	474	33	email	email	NOUN
arjefm-77	474	34	:	:	PUNCT
arjefm-77	475	1	contact@americaserial.com	contact@americaserial.com	PROPN
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arjefm-77	475	3	journal	journal	PROPN
arjefm-77	475	4	of	of	ADP
arjefm-77	475	5	america	america	PROPN
arjefm-77	475	6	serial	serial	PROPN
arjefm-77	475	7	publication	publication	NOUN
arjefm-77	475	8	american	american	PROPN
arjefm-77	475	9	research	research	PROPN
arjefm-77	475	10	journal	journal	PROPN
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arjefm-77	475	12	economics	economic	NOUN
arjefm-77	475	13	,	,	PUNCT
arjefm-77	475	14	finance	finance	NOUN
arjefm-77	475	15	and	and	CCONJ
arjefm-77	475	16	management	management	NOUN
arjefm-77	475	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-77	475	18	,	,	PUNCT
arjefm-77	475	19	email	email	NOUN
arjefm-77	475	20	:	:	PUNCT
arjefm-77	475	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-77	476	1	47	47	NUM
arjefm-77	477	1	|	|	ADV
arjefm-77	477	2	p	p	X
arjefm-77	477	3	a	a	DET
arjefm-77	477	4	g	g	PROPN
arjefm-77	477	5	e	e	PROPN
arjefm-77	477	6	lee	lee	PROPN
arjefm-77	477	7	,	,	PUNCT
arjefm-77	477	8	h.	h.	PROPN
arjefm-77	477	9	,	,	PUNCT
arjefm-77	477	10	lee	lee	PROPN
arjefm-77	477	11	,	,	PUNCT
arjefm-77	477	12	s.	s.	PROPN
arjefm-77	477	13	,	,	PUNCT
arjefm-77	477	14	&	&	CCONJ
arjefm-77	477	15	paluszynski	paluszynski	PROPN
arjefm-77	477	16	,	,	PUNCT
arjefm-77	477	17	r.	r.	PROPN
arjefm-77	477	18	(	(	PUNCT
arjefm-77	477	19	2022	2022	NUM
arjefm-77	477	20	)	)	PUNCT
arjefm-77	477	21	.	.	PUNCT
arjefm-77	478	1	capital	capital	NOUN
arjefm-77	478	2	regulation	regulation	PROPN
arjefm-77	478	3	and	and	CCONJ
arjefm-77	478	4	shadow	shadow	NOUN
arjefm-77	478	5	finance	finance	NOUN
arjefm-77	478	6	:	:	PUNCT
arjefm-77	478	7	a	a	DET
arjefm-77	478	8	quantitative	quantitative	ADJ
arjefm-77	478	9	analysis	analysis	NOUN
arjefm-77	478	10	.	.	PUNCT
arjefm-77	479	1	https://uh.edu/~rpaluszy/banking.pdf	https://uh.edu/~rpaluszy/banking.pdf	PROPN
arjefm-77	479	2	lei	lei	PROPN
arjefm-77	479	3	,	,	PUNCT
arjefm-77	479	4	a.	a.	PROPN
arjefm-77	479	5	c.	c.	PROPN
arjefm-77	479	6	,	,	PUNCT
arjefm-77	479	7	&	&	CCONJ
arjefm-77	479	8	song	song	PROPN
arjefm-77	479	9	,	,	PUNCT
arjefm-77	479	10	z.	z.	PROPN
arjefm-77	479	11	(	(	PUNCT
arjefm-77	479	12	2013	2013	NUM
arjefm-77	479	13	)	)	PUNCT
arjefm-77	479	14	.	.	PUNCT
arjefm-77	480	1	liquidity	liquidity	NOUN
arjefm-77	480	2	creation	creation	NOUN
arjefm-77	480	3	and	and	CCONJ
arjefm-77	480	4	bank	bank	NOUN
arjefm-77	480	5	capital	capital	NOUN
arjefm-77	480	6	structure	structure	NOUN
arjefm-77	480	7	in	in	ADP
arjefm-77	480	8	china	china	PROPN
arjefm-77	480	9	.	.	PUNCT
arjefm-77	481	1	global	global	ADJ
arjefm-77	481	2	finance	finance	PROPN
arjefm-77	481	3	journal	journal	PROPN
arjefm-77	481	4	,	,	PUNCT
arjefm-77	481	5	24(3	24(3	NUM
arjefm-77	481	6	)	)	PUNCT
arjefm-77	481	7	,	,	PUNCT
arjefm-77	481	8	188	188	NUM
arjefm-77	481	9	-	-	SYM
arjefm-77	481	10	202	202	NUM
arjefm-77	481	11	.	.	PUNCT
arjefm-77	481	12	levine	levine	PROPN
arjefm-77	481	13	,	,	PUNCT
arjefm-77	481	14	r.	r.	PROPN
arjefm-77	481	15	(	(	PUNCT
arjefm-77	481	16	1991	1991	NUM
arjefm-77	481	17	)	)	PUNCT
arjefm-77	481	18	.	.	PUNCT
arjefm-77	482	1	stock	stock	NOUN
arjefm-77	482	2	markets	market	NOUN
arjefm-77	482	3	,	,	PUNCT
arjefm-77	482	4	growth	growth	NOUN
arjefm-77	482	5	,	,	PUNCT
arjefm-77	482	6	and	and	CCONJ
arjefm-77	482	7	tax	tax	NOUN
arjefm-77	482	8	policy	policy	NOUN
arjefm-77	482	9	.	.	PUNCT
arjefm-77	483	1	the	the	DET
arjefm-77	483	2	journal	journal	PROPN
arjefm-77	483	3	of	of	ADP
arjefm-77	483	4	finance	finance	NOUN
arjefm-77	483	5	,	,	PUNCT
arjefm-77	483	6	46(4	46(4	NOUN
arjefm-77	483	7	)	)	PUNCT
arjefm-77	483	8	,	,	PUNCT
arjefm-77	483	9	14451465	14451465	NUM
arjefm-77	483	10	.	.	PUNCT
arjefm-77	484	1	pantalone	pantalone	NOUN
arjefm-77	484	2	,	,	PUNCT
arjefm-77	484	3	c.	c.	PROPN
arjefm-77	484	4	c.	c.	PROPN
arjefm-77	484	5	,	,	PUNCT
arjefm-77	484	6	&	&	CCONJ
arjefm-77	484	7	platt	platt	PROPN
arjefm-77	484	8	,	,	PUNCT
arjefm-77	484	9	m.	m.	PROPN
arjefm-77	484	10	b.	b.	PROPN
arjefm-77	484	11	(	(	PUNCT
arjefm-77	484	12	1987	1987	NUM
arjefm-77	484	13	)	)	PUNCT
arjefm-77	484	14	.	.	PUNCT
arjefm-77	485	1	predicting	predict	VERB
arjefm-77	485	2	commercial	commercial	ADJ
arjefm-77	485	3	bank	bank	NOUN
arjefm-77	485	4	failure	failure	NOUN
arjefm-77	485	5	since	since	SCONJ
arjefm-77	485	6	deregulation	deregulation	NOUN
arjefm-77	485	7	.	.	PUNCT
arjefm-77	486	1	new	new	PROPN
arjefm-77	486	2	england	england	PROPN
arjefm-77	486	3	economic	economic	PROPN
arjefm-77	486	4	review	review	PROPN
arjefm-77	486	5	,	,	PUNCT
arjefm-77	486	6	issue	issue	NOUN
arjefm-77	486	7	jul	jul	PROPN
arjefm-77	486	8	,	,	PUNCT
arjefm-77	486	9	37	37	NUM
arjefm-77	486	10	-	-	SYM
arjefm-77	486	11	47	47	NUM
arjefm-77	486	12	.	.	PUNCT
arjefm-77	487	1	petersen	petersen	PROPN
arjefm-77	487	2	,	,	PUNCT
arjefm-77	487	3	m.	m.	NOUN
arjefm-77	487	4	a.	a.	PROPN
arjefm-77	487	5	,	,	PUNCT
arjefm-77	487	6	&	&	CCONJ
arjefm-77	487	7	rajan	rajan	PROPN
arjefm-77	487	8	,	,	PUNCT
arjefm-77	487	9	r.	r.	PROPN
arjefm-77	487	10	g.	g.	PROPN
arjefm-77	487	11	(	(	PUNCT
arjefm-77	487	12	1995	1995	NUM
arjefm-77	487	13	)	)	PUNCT
arjefm-77	487	14	.	.	PUNCT
arjefm-77	488	1	the	the	DET
arjefm-77	488	2	effect	effect	NOUN
arjefm-77	488	3	of	of	ADP
arjefm-77	488	4	credit	credit	NOUN
arjefm-77	488	5	market	market	NOUN
arjefm-77	488	6	competition	competition	NOUN
arjefm-77	488	7	on	on	ADP
arjefm-77	488	8	lending	lending	NOUN
arjefm-77	488	9	relationships	relationship	NOUN
arjefm-77	488	10	.	.	PUNCT
arjefm-77	489	1	the	the	DET
arjefm-77	489	2	quarterly	quarterly	ADJ
arjefm-77	489	3	journal	journal	NOUN
arjefm-77	489	4	of	of	ADP
arjefm-77	489	5	economics	economic	NOUN
arjefm-77	489	6	,	,	PUNCT
arjefm-77	489	7	110(2	110(2	NUM
arjefm-77	489	8	)	)	PUNCT
arjefm-77	489	9	,	,	PUNCT
arjefm-77	489	10	407	407	NUM
arjefm-77	489	11	-	-	SYM
arjefm-77	489	12	443	443	NUM
arjefm-77	489	13	.	.	PUNCT
arjefm-77	489	14	plantin	plantin	PROPN
arjefm-77	489	15	,	,	PUNCT
arjefm-77	489	16	g.	g.	PROPN
arjefm-77	489	17	(	(	PUNCT
arjefm-77	489	18	2015	2015	NUM
arjefm-77	489	19	)	)	PUNCT
arjefm-77	489	20	.	.	PUNCT
arjefm-77	490	1	shadow	shadow	PROPN
arjefm-77	490	2	banking	banking	PROPN
arjefm-77	490	3	and	and	CCONJ
arjefm-77	490	4	bank	bank	NOUN
arjefm-77	490	5	capital	capital	NOUN
arjefm-77	490	6	regulation	regulation	NOUN
arjefm-77	490	7	.	.	PUNCT
arjefm-77	491	1	the	the	DET
arjefm-77	491	2	review	review	NOUN
arjefm-77	491	3	of	of	ADP
arjefm-77	491	4	financial	financial	ADJ
arjefm-77	491	5	studies	study	NOUN
arjefm-77	491	6	,	,	PUNCT
arjefm-77	491	7	28(1	28(1	NOUN
arjefm-77	491	8	)	)	PUNCT
arjefm-77	491	9	,	,	PUNCT
arjefm-77	491	10	146	146	NUM
arjefm-77	491	11	-	-	SYM
arjefm-77	491	12	175	175	NUM
arjefm-77	491	13	.	.	PUNCT
arjefm-77	492	1	repullo	repullo	PROPN
arjefm-77	492	2	,	,	PUNCT
arjefm-77	492	3	r.	r.	PROPN
arjefm-77	492	4	(	(	PUNCT
arjefm-77	492	5	2004	2004	NUM
arjefm-77	492	6	)	)	PUNCT
arjefm-77	492	7	.	.	PUNCT
arjefm-77	493	1	capital	capital	NOUN
arjefm-77	493	2	requirements	requirement	NOUN
arjefm-77	493	3	,	,	PUNCT
arjefm-77	493	4	market	market	NOUN
arjefm-77	493	5	power	power	NOUN
arjefm-77	493	6	and	and	CCONJ
arjefm-77	493	7	risk	risk	NOUN
arjefm-77	493	8	-	-	PUNCT
arjefm-77	493	9	taking	taking	NOUN
arjefm-77	493	10	in	in	ADP
arjefm-77	493	11	banking	banking	NOUN
arjefm-77	493	12	.	.	PUNCT
arjefm-77	494	1	journal	journal	PROPN
arjefm-77	494	2	of	of	ADP
arjefm-77	494	3	financial	financial	ADJ
arjefm-77	494	4	intermediation	intermediation	NOUN
arjefm-77	494	5	13	13	NUM
arjefm-77	494	6	(	(	PUNCT
arjefm-77	494	7	2	2	NUM
arjefm-77	494	8	)	)	PUNCT
arjefm-77	494	9	,	,	PUNCT
arjefm-77	494	10	156–182	156–182	NUM
arjefm-77	494	11	.	.	PUNCT
arjefm-77	495	1	teräsvirta	teräsvirta	PROPN
arjefm-77	495	2	,	,	PUNCT
arjefm-77	495	3	t.	t.	PROPN
arjefm-77	495	4	(	(	PUNCT
arjefm-77	495	5	1994	1994	NUM
arjefm-77	495	6	)	)	PUNCT
arjefm-77	495	7	.	.	PUNCT
arjefm-77	496	1	specification	specification	NOUN
arjefm-77	496	2	estimation	estimation	NOUN
arjefm-77	496	3	and	and	CCONJ
arjefm-77	496	4	evaluation	evaluation	NOUN
arjefm-77	496	5	of	of	ADP
arjefm-77	496	6	smooth	smooth	ADJ
arjefm-77	496	7	transition	transition	NOUN
arjefm-77	496	8	autoregressive	autoregressive	ADJ
arjefm-77	496	9	models	model	NOUN
arjefm-77	496	10	.	.	PUNCT
arjefm-77	497	1	journal	journal	NOUN
arjefm-77	497	2	of	of	ADP
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arjefm-77	497	6	,	,	PUNCT
arjefm-77	497	7	89(425	89(425	NOUN
arjefm-77	497	8	)	)	PUNCT
arjefm-77	497	9	,	,	PUNCT
arjefm-77	497	10	208	208	NUM
arjefm-77	497	11	-	-	SYM
arjefm-77	497	12	218	218	NUM
arjefm-77	497	13	.	.	PUNCT
arjefm-77	498	1	uhde	uhde	PROPN
arjefm-77	498	2	,	,	PUNCT
arjefm-77	498	3	a.	a.	PROPN
arjefm-77	498	4	,	,	PUNCT
arjefm-77	498	5	farruggio	farruggio	PROPN
arjefm-77	498	6	,	,	PUNCT
arjefm-77	498	7	c.	c.	PROPN
arjefm-77	498	8	,	,	PUNCT
arjefm-77	498	9	&	&	CCONJ
arjefm-77	498	10	michalak	michalak	NOUN
arjefm-77	498	11	,	,	PUNCT
arjefm-77	498	12	t.	t.	PROPN
arjefm-77	498	13	c.	c.	PROPN
arjefm-77	498	14	(	(	PUNCT
arjefm-77	498	15	2012	2012	NUM
arjefm-77	498	16	)	)	PUNCT
arjefm-77	498	17	.	.	PUNCT
arjefm-77	499	1	wealth	wealth	NOUN
arjefm-77	499	2	effects	effect	NOUN
arjefm-77	499	3	of	of	ADP
arjefm-77	499	4	credit	credit	NOUN
arjefm-77	499	5	risk	risk	NOUN
arjefm-77	499	6	securitization	securitization	NOUN
arjefm-77	499	7	in	in	ADP
arjefm-77	499	8	european	european	ADJ
arjefm-77	499	9	banking	banking	NOUN
arjefm-77	499	10	.	.	PUNCT
arjefm-77	500	1	journal	journal	PROPN
arjefm-77	500	2	of	of	ADP
arjefm-77	500	3	business	business	NOUN
arjefm-77	500	4	finance	finance	PROPN
arjefm-77	500	5	&	&	CCONJ
arjefm-77	500	6	accounting	accounting	PROPN
arjefm-77	500	7	,	,	PUNCT
arjefm-77	500	8	39(1	39(1	NOUN
arjefm-77	500	9	2	2	NUM
arjefm-77	500	10	)	)	PUNCT
arjefm-77	500	11	,	,	PUNCT
arjefm-77	500	12	193	193	NUM
arjefm-77	500	13	-	-	SYM
arjefm-77	500	14	228	228	NUM
arjefm-77	500	15	.	.	PUNCT
arjefm-77	501	1	umar	umar	PROPN
arjefm-77	501	2	,	,	PUNCT
arjefm-77	501	3	m.	m.	NOUN
arjefm-77	501	4	,	,	PUNCT
arjefm-77	501	5	sun	sun	NOUN
arjefm-77	501	6	,	,	PUNCT
arjefm-77	501	7	g.	g.	PROPN
arjefm-77	501	8	,	,	PUNCT
arjefm-77	501	9	&	&	CCONJ
arjefm-77	501	10	shahzad	shahzad	PROPN
arjefm-77	501	11	,	,	PUNCT
arjefm-77	501	12	k.	k.	PROPN
arjefm-77	501	13	(	(	PUNCT
arjefm-77	501	14	2018	2018	NUM
arjefm-77	501	15	)	)	PUNCT
arjefm-77	501	16	.	.	PUNCT
arjefm-77	502	1	bank	bank	NOUN
arjefm-77	502	2	regulatory	regulatory	ADJ
arjefm-77	502	3	capital	capital	NOUN
arjefm-77	502	4	and	and	CCONJ
arjefm-77	502	5	liquidity	liquidity	NOUN
arjefm-77	502	6	creation	creation	NOUN
arjefm-77	502	7	:	:	PUNCT
arjefm-77	502	8	evidence	evidence	NOUN
arjefm-77	502	9	from	from	ADP
arjefm-77	502	10	brics	bric	NOUN
arjefm-77	502	11	countries	country	NOUN
arjefm-77	502	12	.	.	PUNCT
arjefm-77	503	1	international	international	ADJ
arjefm-77	503	2	journal	journal	NOUN
arjefm-77	503	3	of	of	ADP
arjefm-77	503	4	emerging	emerge	VERB
arjefm-77	503	5	markets	market	NOUN
arjefm-77	503	6	,	,	PUNCT
arjefm-77	503	7	24(4	24(4	NOUN
arjefm-77	503	8	)	)	PUNCT
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arjefm-77	504	7	.	.	PUNCT
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arjefm-77	505	9	and	and	CCONJ
arjefm-77	505	10	bank	bank	NOUN
arjefm-77	505	11	capital	capital	NOUN
arjefm-77	505	12	.	.	PUNCT
arjefm-77	506	1	international	international	ADJ
arjefm-77	506	2	journal	journal	PROPN
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arjefm-77	506	6	,	,	PUNCT
arjefm-77	506	7	7(2),1	7(2),1	PROPN
arjefm-77	506	8	-	-	SYM
arjefm-77	506	9	27	27	NUM
arjefm-77	506	10	.	.	PUNCT
arjefm-77	507	1	wdi	wdi	PROPN
arjefm-77	507	2	(	(	PUNCT
arjefm-77	507	3	2020	2020	NUM
arjefm-77	507	4	)	)	PUNCT
arjefm-77	507	5	.	.	PUNCT
arjefm-77	508	1	world	world	PROPN
arjefm-77	508	2	development	development	PROPN
arjefm-77	508	3	indicator	indicator	PROPN
arjefm-77	508	4	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-77	508	5	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X