id	sid	tid	token	lemma	pos
ajeer-7477	1	1	104	104	NUM
ajeer-7477	1	2	©	©	PROPN
ajeer-7477	1	3	2025	2025	NUM
ajeer-7477	1	4	by	by	ADP
ajeer-7477	1	5	the	the	DET
ajeer-7477	1	6	authors	author	NOUN
ajeer-7477	1	7	;	;	PUNCT
ajeer-7477	1	8	licensee	licensee	PROPN
ajeer-7477	1	9	asian	asian	ADJ
ajeer-7477	1	10	online	online	PROPN
ajeer-7477	1	11	journal	journal	PROPN
ajeer-7477	1	12	publishing	publishing	PROPN
ajeer-7477	1	13	group	group	PROPN
ajeer-7477	1	14	asian	asian	PROPN
ajeer-7477	1	15	journal	journal	PROPN
ajeer-7477	1	16	of	of	ADP
ajeer-7477	1	17	economics	economic	NOUN
ajeer-7477	1	18	and	and	CCONJ
ajeer-7477	1	19	empirical	empirical	ADJ
ajeer-7477	1	20	research	research	NOUN
ajeer-7477	1	21	vol	vol	NOUN
ajeer-7477	1	22	.	.	PROPN
ajeer-7477	2	1	12	12	NUM
ajeer-7477	2	2	,	,	PUNCT
ajeer-7477	2	3	no	no	INTJ
ajeer-7477	2	4	.	.	NOUN
ajeer-7477	2	5	2	2	NUM
ajeer-7477	2	6	,	,	PUNCT
ajeer-7477	2	7	104	104	NUM
ajeer-7477	2	8	-	-	SYM
ajeer-7477	2	9	112	112	NUM
ajeer-7477	2	10	,	,	PUNCT
ajeer-7477	2	11	2025	2025	NUM
ajeer-7477	2	12	issn(e	issn(e	NOUN
ajeer-7477	2	13	)	)	PUNCT
ajeer-7477	2	14	2409	2409	NUM
ajeer-7477	2	15	-	-	SYM
ajeer-7477	2	16	2622	2622	NUM
ajeer-7477	2	17	/	/	SYM
ajeer-7477	2	18	issn(p	issn(p	PROPN
ajeer-7477	2	19	)	)	PUNCT
ajeer-7477	2	20	2518	2518	NUM
ajeer-7477	2	21	-	-	PUNCT
ajeer-7477	2	22	010x	010x	ADJ
ajeer-7477	2	23	doi	doi	NOUN
ajeer-7477	2	24	:	:	PUNCT
ajeer-7477	2	25	10.20448	10.20448	NUM
ajeer-7477	2	26	/	/	SYM
ajeer-7477	2	27	ajeer.v12i2.7477	ajeer.v12i2.7477	PROPN
ajeer-7477	3	1	©	©	NOUN
ajeer-7477	3	2	2025	2025	NUM
ajeer-7477	3	3	by	by	ADP
ajeer-7477	3	4	the	the	DET
ajeer-7477	3	5	author	author	NOUN
ajeer-7477	3	6	;	;	PUNCT
ajeer-7477	4	1	licensee	licensee	PROPN
ajeer-7477	4	2	asian	asian	ADJ
ajeer-7477	4	3	online	online	PROPN
ajeer-7477	4	4	journal	journal	PROPN
ajeer-7477	4	5	publishing	publishing	NOUN
ajeer-7477	4	6	group	group	NOUN
ajeer-7477	4	7	exploring	explore	VERB
ajeer-7477	4	8	the	the	DET
ajeer-7477	4	9	impacts	impact	NOUN
ajeer-7477	4	10	of	of	ADP
ajeer-7477	4	11	financial	financial	ADJ
ajeer-7477	4	12	development	development	NOUN
ajeer-7477	4	13	on	on	ADP
ajeer-7477	4	14	economic	economic	ADJ
ajeer-7477	4	15	growth	growth	NOUN
ajeer-7477	4	16	through	through	ADP
ajeer-7477	4	17	financial	financial	ADJ
ajeer-7477	4	18	openness	openness	NOUN
ajeer-7477	4	19	in	in	ADP
ajeer-7477	4	20	three	three	NUM
ajeer-7477	4	21	urban	urban	ADJ
ajeer-7477	4	22	agglomeration	agglomeration	NOUN
ajeer-7477	4	23	regions	region	NOUN
ajeer-7477	4	24	of	of	ADP
ajeer-7477	4	25	china	china	PROPN
ajeer-7477	4	26	ashfaque	ashfaque	PROPN
ajeer-7477	4	27	ali	ali	PROPN
ajeer-7477	4	28	gilal1	gilal1	PROPN
ajeer-7477	5	1	liu	liu	PROPN
ajeer-7477	5	2	hong2	hong2	PROPN
ajeer-7477	6	1	xianhang	xianhang	PROPN
ajeer-7477	6	2	xu3	xu3	PROPN
ajeer-7477	6	3	meng	meng	PROPN
ajeer-7477	6	4	jiao	jiao	PROPN
ajeer-7477	6	5	si4	si4	PROPN
ajeer-7477	6	6	qi	qi	PROPN
ajeer-7477	6	7	min5	min5	PROPN
ajeer-7477	6	8	(	(	PUNCT
ajeer-7477	6	9			PROPN
ajeer-7477	6	10	corresponding	correspond	VERB
ajeer-7477	6	11	author	author	NOUN
ajeer-7477	6	12	)	)	PUNCT
ajeer-7477	6	13	1sukkur	1sukkur	PROPN
ajeer-7477	6	14	iba	iba	PROPN
ajeer-7477	6	15	university	university	PROPN
ajeer-7477	6	16	sukkur	sukkur	PROPN
ajeer-7477	6	17	sindh	sindh	PROPN
ajeer-7477	6	18	,	,	PUNCT
ajeer-7477	6	19	pakistan	pakistan	PROPN
ajeer-7477	6	20	.	.	PUNCT
ajeer-7477	7	1	1email	1email	NUM
ajeer-7477	7	2	:	:	PUNCT
ajeer-7477	7	3	ashfaque.ali@iba-suk.edu.pk	ashfaque.ali@iba-suk.edu.pk	PROPN
ajeer-7477	7	4	2school	2school	NUM
ajeer-7477	7	5	of	of	ADP
ajeer-7477	7	6	economics	economic	NOUN
ajeer-7477	7	7	and	and	CCONJ
ajeer-7477	7	8	management	management	NOUN
ajeer-7477	7	9	,	,	PUNCT
ajeer-7477	7	10	tianjin	tianjin	PROPN
ajeer-7477	7	11	tianshi	tianshi	PROPN
ajeer-7477	7	12	college	college	PROPN
ajeer-7477	7	13	,	,	PUNCT
ajeer-7477	7	14	china	china	PROPN
ajeer-7477	7	15	.	.	PUNCT
ajeer-7477	8	1	2email	2email	NUM
ajeer-7477	8	2	:	:	PUNCT
ajeer-7477	8	3	liuhong@student.usm.my	liuhong@student.usm.my	PROPN
ajeer-7477	8	4	3school	3school	PROPN
ajeer-7477	8	5	of	of	ADP
ajeer-7477	8	6	management	management	NOUN
ajeer-7477	8	7	,	,	PUNCT
ajeer-7477	8	8	chongqing	chongqing	PROPN
ajeer-7477	8	9	institute	institute	PROPN
ajeer-7477	8	10	of	of	ADP
ajeer-7477	8	11	engineering	engineering	PROPN
ajeer-7477	8	12	,	,	PUNCT
ajeer-7477	8	13	chongqing	chongqing	PROPN
ajeer-7477	8	14	china	china	PROPN
ajeer-7477	8	15	.	.	PUNCT
ajeer-7477	9	1	3email	3email	NUM
ajeer-7477	9	2	:	:	PUNCT
ajeer-7477	9	3	xuxianhang@cqie.edu.cn	xuxianhang@cqie.edu.cn	NOUN
ajeer-7477	9	4	4universiti	4universiti	PROPN
ajeer-7477	9	5	sains	sain	NOUN
ajeer-7477	9	6	malaysia	malaysia	PROPN
ajeer-7477	9	7	,	,	PUNCT
ajeer-7477	9	8	malaysia	malaysia	PROPN
ajeer-7477	9	9	.	.	PUNCT
ajeer-7477	10	1	4email	4email	NUM
ajeer-7477	10	2	:	:	PUNCT
ajeer-7477	10	3	meng91061@student.usm.my	meng91061@student.usm.my	ADV
ajeer-7477	10	4	,	,	PUNCT
ajeer-7477	10	5	5tianjin	5tianjin	PROPN
ajeer-7477	10	6	university	university	NOUN
ajeer-7477	10	7	of	of	ADP
ajeer-7477	10	8	finance	finance	NOUN
ajeer-7477	10	9	and	and	CCONJ
ajeer-7477	10	10	economics	economic	NOUN
ajeer-7477	10	11	,	,	PUNCT
ajeer-7477	10	12	china	china	PROPN
ajeer-7477	10	13	.	.	PUNCT
ajeer-7477	11	1	5pearl	5pearl	NUM
ajeer-7477	11	2	river	river	NOUN
ajeer-7477	11	3	college	college	NOUN
ajeer-7477	11	4	,	,	PUNCT
ajeer-7477	11	5	mississippi	mississippi	PROPN
ajeer-7477	11	6	,	,	PUNCT
ajeer-7477	11	7	united	united	PROPN
ajeer-7477	11	8	states	states	PROPN
ajeer-7477	11	9	.	.	PUNCT
ajeer-7477	12	1	5email	5email	X
ajeer-7477	12	2	:	:	PUNCT
ajeer-7477	12	3	qimin@student.usm.my	qimin@student.usm.my	NOUN
ajeer-7477	12	4	abstract	abstract	ADJ
ajeer-7477	12	5	this	this	DET
ajeer-7477	12	6	study	study	NOUN
ajeer-7477	12	7	explores	explore	VERB
ajeer-7477	12	8	the	the	DET
ajeer-7477	12	9	nonlinear	nonlinear	ADJ
ajeer-7477	12	10	relationship	relationship	NOUN
ajeer-7477	12	11	between	between	ADP
ajeer-7477	12	12	financial	financial	ADJ
ajeer-7477	12	13	development	development	NOUN
ajeer-7477	12	14	(	(	PUNCT
ajeer-7477	12	15	fd	fd	PROPN
ajeer-7477	12	16	)	)	PUNCT
ajeer-7477	12	17	,	,	PUNCT
ajeer-7477	12	18	financial	financial	ADJ
ajeer-7477	12	19	openness	openness	NOUN
ajeer-7477	12	20	(	(	PUNCT
ajeer-7477	12	21	fo	fo	NOUN
ajeer-7477	12	22	)	)	PUNCT
ajeer-7477	12	23	,	,	PUNCT
ajeer-7477	12	24	and	and	CCONJ
ajeer-7477	12	25	economic	economic	ADJ
ajeer-7477	12	26	growth	growth	NOUN
ajeer-7477	12	27	across	across	ADP
ajeer-7477	12	28	china	china	PROPN
ajeer-7477	12	29	’s	’s	PART
ajeer-7477	12	30	three	three	NUM
ajeer-7477	12	31	key	key	ADJ
ajeer-7477	12	32	urban	urban	ADJ
ajeer-7477	12	33	agglomerations	agglomeration	NOUN
ajeer-7477	12	34	:	:	PUNCT
ajeer-7477	12	35	jing	je	VERB
ajeer-7477	12	36	-	-	PUNCT
ajeer-7477	12	37	jin	jin	PROPN
ajeer-7477	12	38	-	-	PUNCT
ajeer-7477	12	39	ji	ji	PROPN
ajeer-7477	12	40	,	,	PUNCT
ajeer-7477	12	41	yangtze	yangtze	PROPN
ajeer-7477	12	42	river	river	PROPN
ajeer-7477	12	43	delta	delta	PROPN
ajeer-7477	12	44	,	,	PUNCT
ajeer-7477	12	45	and	and	CCONJ
ajeer-7477	12	46	pearl	pearl	PROPN
ajeer-7477	12	47	river	river	PROPN
ajeer-7477	12	48	delta	delta	NOUN
ajeer-7477	12	49	.	.	PUNCT
ajeer-7477	13	1	using	use	VERB
ajeer-7477	13	2	panel	panel	NOUN
ajeer-7477	13	3	data	datum	NOUN
ajeer-7477	13	4	from	from	ADP
ajeer-7477	13	5	10	10	NUM
ajeer-7477	13	6	provinces	province	NOUN
ajeer-7477	13	7	,	,	PUNCT
ajeer-7477	13	8	municipalities	municipality	NOUN
ajeer-7477	13	9	,	,	PUNCT
ajeer-7477	13	10	and	and	CCONJ
ajeer-7477	13	11	special	special	ADJ
ajeer-7477	13	12	administrative	administrative	ADJ
ajeer-7477	13	13	regions	region	NOUN
ajeer-7477	13	14	over	over	ADP
ajeer-7477	13	15	the	the	DET
ajeer-7477	13	16	period	period	NOUN
ajeer-7477	13	17	1995–2021	1995–2021	NUM
ajeer-7477	13	18	,	,	PUNCT
ajeer-7477	13	19	the	the	DET
ajeer-7477	13	20	study	study	NOUN
ajeer-7477	13	21	applies	apply	VERB
ajeer-7477	13	22	a	a	DET
ajeer-7477	13	23	panel	panel	NOUN
ajeer-7477	13	24	threshold	threshold	NOUN
ajeer-7477	13	25	regression	regression	NOUN
ajeer-7477	13	26	model	model	NOUN
ajeer-7477	13	27	to	to	PART
ajeer-7477	13	28	examine	examine	VERB
ajeer-7477	13	29	how	how	SCONJ
ajeer-7477	13	30	the	the	DET
ajeer-7477	13	31	growthenhancing	growthenhance	VERB
ajeer-7477	13	32	effects	effect	NOUN
ajeer-7477	13	33	of	of	ADP
ajeer-7477	13	34	fd	fd	PUNCT
ajeer-7477	13	35	vary	vary	VERB
ajeer-7477	13	36	across	across	ADP
ajeer-7477	13	37	different	different	ADJ
ajeer-7477	13	38	levels	level	NOUN
ajeer-7477	13	39	of	of	ADP
ajeer-7477	13	40	fo	fo	PROPN
ajeer-7477	13	41	.	.	PUNCT
ajeer-7477	14	1	the	the	DET
ajeer-7477	14	2	results	result	NOUN
ajeer-7477	14	3	reveal	reveal	VERB
ajeer-7477	14	4	that	that	SCONJ
ajeer-7477	14	5	when	when	SCONJ
ajeer-7477	14	6	fo	fo	ADV
ajeer-7477	14	7	is	be	AUX
ajeer-7477	14	8	low	low	ADJ
ajeer-7477	14	9	(	(	PUNCT
ajeer-7477	14	10	fo	fo	ADV
ajeer-7477	14	11	<	<	X
ajeer-7477	14	12	0.4253	0.4253	NUM
ajeer-7477	14	13	)	)	PUNCT
ajeer-7477	14	14	,	,	PUNCT
ajeer-7477	14	15	fd	fd	PROPN
ajeer-7477	14	16	has	have	VERB
ajeer-7477	14	17	a	a	DET
ajeer-7477	14	18	strong	strong	ADJ
ajeer-7477	14	19	positive	positive	ADJ
ajeer-7477	14	20	impact	impact	NOUN
ajeer-7477	14	21	on	on	ADP
ajeer-7477	14	22	economic	economic	ADJ
ajeer-7477	14	23	growth	growth	NOUN
ajeer-7477	14	24	,	,	PUNCT
ajeer-7477	14	25	indicating	indicate	VERB
ajeer-7477	14	26	that	that	SCONJ
ajeer-7477	14	27	domestic	domestic	ADJ
ajeer-7477	14	28	financial	financial	ADJ
ajeer-7477	14	29	systems	system	NOUN
ajeer-7477	14	30	play	play	VERB
ajeer-7477	14	31	a	a	DET
ajeer-7477	14	32	pivotal	pivotal	ADJ
ajeer-7477	14	33	role	role	NOUN
ajeer-7477	14	34	in	in	ADP
ajeer-7477	14	35	less	less	ADV
ajeer-7477	14	36	open	open	ADJ
ajeer-7477	14	37	economies	economy	NOUN
ajeer-7477	14	38	.	.	PUNCT
ajeer-7477	15	1	in	in	ADP
ajeer-7477	15	2	moderately	moderately	ADV
ajeer-7477	15	3	open	open	ADJ
ajeer-7477	15	4	regimes	regime	NOUN
ajeer-7477	15	5	(	(	PUNCT
ajeer-7477	15	6	0.4253	0.4253	NUM
ajeer-7477	15	7	≤	≤	NOUN
ajeer-7477	15	8	fo	fo	ADP
ajeer-7477	15	9	≤	≤	NOUN
ajeer-7477	15	10	0.43720	0.43720	NUM
ajeer-7477	15	11	)	)	PUNCT
ajeer-7477	15	12	,	,	PUNCT
ajeer-7477	15	13	the	the	DET
ajeer-7477	15	14	positive	positive	ADJ
ajeer-7477	15	15	effect	effect	NOUN
ajeer-7477	15	16	of	of	ADP
ajeer-7477	15	17	fd	fd	PUNCT
ajeer-7477	15	18	weakens	weaken	NOUN
ajeer-7477	15	19	,	,	PUNCT
ajeer-7477	15	20	possibly	possibly	ADV
ajeer-7477	15	21	due	due	ADP
ajeer-7477	15	22	to	to	ADP
ajeer-7477	15	23	transitional	transitional	ADJ
ajeer-7477	15	24	inefficiencies	inefficiency	NOUN
ajeer-7477	15	25	or	or	CCONJ
ajeer-7477	15	26	policy	policy	NOUN
ajeer-7477	15	27	misalignments	misalignment	NOUN
ajeer-7477	15	28	.	.	PUNCT
ajeer-7477	16	1	interestingly	interestingly	ADV
ajeer-7477	16	2	,	,	PUNCT
ajeer-7477	16	3	in	in	ADP
ajeer-7477	16	4	highly	highly	ADV
ajeer-7477	16	5	open	open	ADJ
ajeer-7477	16	6	regimes	regime	NOUN
ajeer-7477	16	7	(	(	PUNCT
ajeer-7477	16	8	fo	fo	INTJ
ajeer-7477	16	9	>	>	X
ajeer-7477	16	10	0.43720	0.43720	NUM
ajeer-7477	16	11	)	)	PUNCT
ajeer-7477	16	12	,	,	PUNCT
ajeer-7477	16	13	the	the	DET
ajeer-7477	16	14	impact	impact	NOUN
ajeer-7477	16	15	of	of	ADP
ajeer-7477	16	16	fd	fd	PROPN
ajeer-7477	16	17	strengthens	strengthen	VERB
ajeer-7477	16	18	again	again	ADV
ajeer-7477	16	19	,	,	PUNCT
ajeer-7477	16	20	though	though	SCONJ
ajeer-7477	16	21	not	not	PART
ajeer-7477	16	22	to	to	ADP
ajeer-7477	16	23	the	the	DET
ajeer-7477	16	24	level	level	NOUN
ajeer-7477	16	25	observed	observe	VERB
ajeer-7477	16	26	in	in	ADP
ajeer-7477	16	27	closed	closed	ADJ
ajeer-7477	16	28	financial	financial	ADJ
ajeer-7477	16	29	environments	environment	NOUN
ajeer-7477	16	30	.	.	PUNCT
ajeer-7477	17	1	among	among	ADP
ajeer-7477	17	2	the	the	DET
ajeer-7477	17	3	control	control	NOUN
ajeer-7477	17	4	variables	variable	NOUN
ajeer-7477	17	5	,	,	PUNCT
ajeer-7477	17	6	government	government	NOUN
ajeer-7477	17	7	expenditure	expenditure	NOUN
ajeer-7477	17	8	,	,	PUNCT
ajeer-7477	17	9	trade	trade	NOUN
ajeer-7477	17	10	openness	openness	NOUN
ajeer-7477	17	11	,	,	PUNCT
ajeer-7477	17	12	and	and	CCONJ
ajeer-7477	17	13	higher	high	ADJ
ajeer-7477	17	14	education	education	NOUN
ajeer-7477	17	15	enrollment	enrollment	NOUN
ajeer-7477	17	16	negatively	negatively	ADV
ajeer-7477	17	17	influence	influence	VERB
ajeer-7477	17	18	economic	economic	ADJ
ajeer-7477	17	19	growth	growth	NOUN
ajeer-7477	17	20	,	,	PUNCT
ajeer-7477	17	21	while	while	SCONJ
ajeer-7477	17	22	inflation	inflation	NOUN
ajeer-7477	17	23	is	be	AUX
ajeer-7477	17	24	positively	positively	ADV
ajeer-7477	17	25	associated	associate	VERB
ajeer-7477	17	26	.	.	PUNCT
ajeer-7477	18	1	these	these	DET
ajeer-7477	18	2	findings	finding	NOUN
ajeer-7477	18	3	offer	offer	VERB
ajeer-7477	18	4	important	important	ADJ
ajeer-7477	18	5	policy	policy	NOUN
ajeer-7477	18	6	insights	insight	NOUN
ajeer-7477	18	7	,	,	PUNCT
ajeer-7477	18	8	emphasizing	emphasize	VERB
ajeer-7477	18	9	the	the	DET
ajeer-7477	18	10	need	need	NOUN
ajeer-7477	18	11	for	for	ADP
ajeer-7477	18	12	region	region	NOUN
ajeer-7477	18	13	-	-	PUNCT
ajeer-7477	18	14	specific	specific	ADJ
ajeer-7477	18	15	financial	financial	ADJ
ajeer-7477	18	16	liberalization	liberalization	NOUN
ajeer-7477	18	17	strategies	strategy	NOUN
ajeer-7477	18	18	and	and	CCONJ
ajeer-7477	18	19	reinforcing	reinforce	VERB
ajeer-7477	18	20	the	the	DET
ajeer-7477	18	21	importance	importance	NOUN
ajeer-7477	18	22	of	of	ADP
ajeer-7477	18	23	domestic	domestic	ADJ
ajeer-7477	18	24	financial	financial	ADJ
ajeer-7477	18	25	system	system	NOUN
ajeer-7477	18	26	development	development	NOUN
ajeer-7477	18	27	to	to	AUX
ajeer-7477	18	28	effectively	effectively	ADV
ajeer-7477	18	29	harness	harness	VERB
ajeer-7477	18	30	the	the	DET
ajeer-7477	18	31	benefits	benefit	NOUN
ajeer-7477	18	32	of	of	ADP
ajeer-7477	18	33	global	global	ADJ
ajeer-7477	18	34	financial	financial	ADJ
ajeer-7477	18	35	integration	integration	NOUN
ajeer-7477	18	36	.	.	PUNCT
ajeer-7477	19	1	keywords	keyword	NOUN
ajeer-7477	19	2	:	:	PUNCT
ajeer-7477	19	3	agglomeration	agglomeration	NOUN
ajeer-7477	19	4	regions	region	NOUN
ajeer-7477	19	5	of	of	ADP
ajeer-7477	19	6	china	china	PROPN
ajeer-7477	19	7	,	,	PUNCT
ajeer-7477	19	8	economic	economic	ADJ
ajeer-7477	19	9	growth	growth	NOUN
ajeer-7477	19	10	,	,	PUNCT
ajeer-7477	19	11	financial	financial	ADJ
ajeer-7477	19	12	development	development	NOUN
ajeer-7477	19	13	,	,	PUNCT
ajeer-7477	19	14	financial	financial	ADJ
ajeer-7477	19	15	openness	openness	NOUN
ajeer-7477	19	16	,	,	PUNCT
ajeer-7477	19	17	threshold	threshold	NOUN
ajeer-7477	19	18	regression	regression	NOUN
ajeer-7477	19	19	.	.	PUNCT
ajeer-7477	20	1	jel	jel	PROPN
ajeer-7477	20	2	classification	classification	NOUN
ajeer-7477	20	3	:	:	PUNCT
ajeer-7477	20	4	e1	e1	NOUN
ajeer-7477	20	5	;	;	PUNCT
ajeer-7477	20	6	e6	e6	NOUN
ajeer-7477	20	7	;	;	PUNCT
ajeer-7477	20	8	f31	f31	PROPN
ajeer-7477	20	9	;	;	PUNCT
ajeer-7477	20	10	g2	g2	PROPN
ajeer-7477	20	11	.	.	PUNCT
ajeer-7477	21	1	citation	citation	NOUN
ajeer-7477	21	2	|	|	ADV
ajeer-7477	21	3	gilal	gilal	PROPN
ajeer-7477	21	4	,	,	PUNCT
ajeer-7477	21	5	a.	a.	NOUN
ajeer-7477	21	6	a.	a.	PROPN
ajeer-7477	21	7	,	,	PUNCT
ajeer-7477	21	8	hong	hong	PROPN
ajeer-7477	21	9	,	,	PUNCT
ajeer-7477	21	10	l.	l.	PROPN
ajeer-7477	21	11	,	,	PUNCT
ajeer-7477	21	12	xu	xu	PROPN
ajeer-7477	21	13	,	,	PUNCT
ajeer-7477	21	14	x.	x.	PROPN
ajeer-7477	21	15	,	,	PUNCT
ajeer-7477	21	16	si	si	PROPN
ajeer-7477	21	17	,	,	PUNCT
ajeer-7477	21	18	m.	m.	NOUN
ajeer-7477	21	19	j.	j.	PROPN
ajeer-7477	21	20	,	,	PUNCT
ajeer-7477	21	21	&	&	CCONJ
ajeer-7477	21	22	min	min	PROPN
ajeer-7477	21	23	,	,	PUNCT
ajeer-7477	21	24	q.	q.	PROPN
ajeer-7477	21	25	(	(	PUNCT
ajeer-7477	21	26	2025	2025	NUM
ajeer-7477	21	27	)	)	PUNCT
ajeer-7477	21	28	.	.	PUNCT
ajeer-7477	22	1	exploring	explore	VERB
ajeer-7477	22	2	the	the	DET
ajeer-7477	22	3	impacts	impact	NOUN
ajeer-7477	22	4	of	of	ADP
ajeer-7477	22	5	financial	financial	ADJ
ajeer-7477	22	6	development	development	NOUN
ajeer-7477	22	7	on	on	ADP
ajeer-7477	22	8	economic	economic	ADJ
ajeer-7477	22	9	growth	growth	NOUN
ajeer-7477	22	10	through	through	ADP
ajeer-7477	22	11	financial	financial	ADJ
ajeer-7477	22	12	openness	openness	NOUN
ajeer-7477	22	13	in	in	ADP
ajeer-7477	22	14	three	three	NUM
ajeer-7477	22	15	urban	urban	ADJ
ajeer-7477	22	16	agglomeration	agglomeration	NOUN
ajeer-7477	22	17	regions	region	NOUN
ajeer-7477	22	18	of	of	ADP
ajeer-7477	22	19	china	china	PROPN
ajeer-7477	22	20	.	.	PUNCT
ajeer-7477	23	1	asian	asian	PROPN
ajeer-7477	23	2	journal	journal	PROPN
ajeer-7477	23	3	of	of	ADP
ajeer-7477	23	4	economics	economic	NOUN
ajeer-7477	23	5	and	and	CCONJ
ajeer-7477	23	6	empirical	empirical	ADJ
ajeer-7477	23	7	research	research	NOUN
ajeer-7477	23	8	,	,	PUNCT
ajeer-7477	23	9	12(2	12(2	NUM
ajeer-7477	23	10	)	)	PUNCT
ajeer-7477	23	11	,	,	PUNCT
ajeer-7477	23	12	104	104	NUM
ajeer-7477	23	13	–	–	PUNCT
ajeer-7477	23	14	112	112	NUM
ajeer-7477	23	15	.	.	PUNCT
ajeer-7477	23	16	10.20448	10.20448	NUM
ajeer-7477	23	17	/	/	SYM
ajeer-7477	23	18	ajeer.v12i2.7477	ajeer.v12i2.7477	NOUN
ajeer-7477	23	19	history	history	NOUN
ajeer-7477	23	20	:	:	PUNCT
ajeer-7477	23	21	received	receive	VERB
ajeer-7477	23	22	:	:	PUNCT
ajeer-7477	23	23	9	9	NUM
ajeer-7477	23	24	july	july	PROPN
ajeer-7477	23	25	2025	2025	NUM
ajeer-7477	23	26	revised	revise	VERB
ajeer-7477	23	27	:	:	PUNCT
ajeer-7477	23	28	21	21	NUM
ajeer-7477	23	29	august	august	PROPN
ajeer-7477	23	30	2025	2025	NUM
ajeer-7477	23	31	accepted	accept	VERB
ajeer-7477	23	32	:	:	PUNCT
ajeer-7477	23	33	10	10	NUM
ajeer-7477	23	34	september	september	PROPN
ajeer-7477	23	35	2025	2025	NUM
ajeer-7477	23	36	published	publish	VERB
ajeer-7477	23	37	:	:	PUNCT
ajeer-7477	23	38	1	1	NUM
ajeer-7477	23	39	october	october	NOUN
ajeer-7477	23	40	2025	2025	NUM
ajeer-7477	23	41	licensed	license	VERB
ajeer-7477	23	42	:	:	PUNCT
ajeer-7477	23	43	this	this	DET
ajeer-7477	23	44	work	work	NOUN
ajeer-7477	23	45	is	be	AUX
ajeer-7477	23	46	licensed	license	VERB
ajeer-7477	23	47	under	under	ADP
ajeer-7477	23	48	a	a	DET
ajeer-7477	23	49	creative	creative	ADJ
ajeer-7477	23	50	commons	common	NOUN
ajeer-7477	23	51	attribution	attribution	NOUN
ajeer-7477	23	52	4.0	4.0	NUM
ajeer-7477	23	53	license	license	NOUN
ajeer-7477	23	54	publisher	publisher	NOUN
ajeer-7477	23	55	:	:	PUNCT
ajeer-7477	23	56	asian	asian	ADJ
ajeer-7477	23	57	online	online	PROPN
ajeer-7477	23	58	journal	journal	PROPN
ajeer-7477	23	59	publishing	publishing	PROPN
ajeer-7477	23	60	group	group	PROPN
ajeer-7477	23	61	funding	funding	NOUN
ajeer-7477	23	62	:	:	PUNCT
ajeer-7477	23	63	this	this	DET
ajeer-7477	23	64	study	study	NOUN
ajeer-7477	23	65	received	receive	VERB
ajeer-7477	23	66	no	no	DET
ajeer-7477	23	67	specific	specific	ADJ
ajeer-7477	23	68	financial	financial	ADJ
ajeer-7477	23	69	support	support	NOUN
ajeer-7477	23	70	.	.	PUNCT
ajeer-7477	24	1	institutional	institutional	ADJ
ajeer-7477	24	2	review	review	PROPN
ajeer-7477	24	3	board	board	NOUN
ajeer-7477	24	4	statement	statement	NOUN
ajeer-7477	24	5	:	:	PUNCT
ajeer-7477	24	6	not	not	PART
ajeer-7477	24	7	applicable	applicable	ADJ
ajeer-7477	24	8	.	.	PUNCT
ajeer-7477	25	1	transparency	transparency	NOUN
ajeer-7477	25	2	:	:	PUNCT
ajeer-7477	25	3	the	the	DET
ajeer-7477	25	4	authors	author	NOUN
ajeer-7477	25	5	confirm	confirm	VERB
ajeer-7477	25	6	that	that	SCONJ
ajeer-7477	25	7	the	the	DET
ajeer-7477	25	8	manuscript	manuscript	NOUN
ajeer-7477	25	9	is	be	AUX
ajeer-7477	25	10	an	an	DET
ajeer-7477	25	11	honest	honest	ADJ
ajeer-7477	25	12	,	,	PUNCT
ajeer-7477	25	13	accurate	accurate	ADJ
ajeer-7477	25	14	,	,	PUNCT
ajeer-7477	25	15	and	and	CCONJ
ajeer-7477	25	16	transparent	transparent	ADJ
ajeer-7477	25	17	account	account	NOUN
ajeer-7477	25	18	of	of	ADP
ajeer-7477	25	19	the	the	DET
ajeer-7477	25	20	study	study	NOUN
ajeer-7477	25	21	;	;	PUNCT
ajeer-7477	25	22	that	that	SCONJ
ajeer-7477	25	23	no	no	DET
ajeer-7477	25	24	vital	vital	ADJ
ajeer-7477	25	25	features	feature	NOUN
ajeer-7477	25	26	of	of	ADP
ajeer-7477	25	27	the	the	DET
ajeer-7477	25	28	study	study	NOUN
ajeer-7477	25	29	have	have	AUX
ajeer-7477	25	30	been	be	AUX
ajeer-7477	25	31	omitted	omit	VERB
ajeer-7477	25	32	;	;	PUNCT
ajeer-7477	25	33	and	and	CCONJ
ajeer-7477	25	34	that	that	SCONJ
ajeer-7477	25	35	any	any	DET
ajeer-7477	25	36	discrepancies	discrepancy	NOUN
ajeer-7477	25	37	from	from	ADP
ajeer-7477	25	38	the	the	DET
ajeer-7477	25	39	study	study	NOUN
ajeer-7477	25	40	as	as	SCONJ
ajeer-7477	25	41	planned	plan	VERB
ajeer-7477	25	42	have	have	AUX
ajeer-7477	25	43	been	be	AUX
ajeer-7477	25	44	explained	explain	VERB
ajeer-7477	25	45	.	.	PUNCT
ajeer-7477	26	1	this	this	DET
ajeer-7477	26	2	study	study	NOUN
ajeer-7477	26	3	followed	follow	VERB
ajeer-7477	26	4	all	all	DET
ajeer-7477	26	5	ethical	ethical	ADJ
ajeer-7477	26	6	practices	practice	NOUN
ajeer-7477	26	7	during	during	ADP
ajeer-7477	26	8	writing	writing	NOUN
ajeer-7477	26	9	.	.	PUNCT
ajeer-7477	27	1	data	datum	NOUN
ajeer-7477	27	2	availability	availability	NOUN
ajeer-7477	27	3	statement	statement	NOUN
ajeer-7477	27	4	:	:	PUNCT
ajeer-7477	27	5	the	the	DET
ajeer-7477	27	6	corresponding	corresponding	ADJ
ajeer-7477	27	7	author	author	NOUN
ajeer-7477	27	8	may	may	AUX
ajeer-7477	27	9	provide	provide	VERB
ajeer-7477	27	10	study	study	NOUN
ajeer-7477	27	11	data	datum	NOUN
ajeer-7477	27	12	upon	upon	SCONJ
ajeer-7477	27	13	reasonable	reasonable	ADJ
ajeer-7477	27	14	request	request	NOUN
ajeer-7477	27	15	.	.	PUNCT
ajeer-7477	28	1	competing	compete	VERB
ajeer-7477	28	2	interests	interest	NOUN
ajeer-7477	28	3	:	:	PUNCT
ajeer-7477	28	4	the	the	DET
ajeer-7477	28	5	authors	author	NOUN
ajeer-7477	28	6	declare	declare	VERB
ajeer-7477	28	7	that	that	SCONJ
ajeer-7477	28	8	they	they	PRON
ajeer-7477	28	9	have	have	VERB
ajeer-7477	28	10	no	no	DET
ajeer-7477	28	11	competing	compete	VERB
ajeer-7477	28	12	interests	interest	NOUN
ajeer-7477	28	13	.	.	PUNCT
ajeer-7477	29	1	authors	author	NOUN
ajeer-7477	29	2	’	'	PUNCT
ajeer-7477	29	3	contributions	contribution	NOUN
ajeer-7477	29	4	:	:	PUNCT
ajeer-7477	29	5	all	all	DET
ajeer-7477	29	6	authors	author	NOUN
ajeer-7477	29	7	contributed	contribute	VERB
ajeer-7477	29	8	equally	equally	ADV
ajeer-7477	29	9	to	to	ADP
ajeer-7477	29	10	the	the	DET
ajeer-7477	29	11	conception	conception	NOUN
ajeer-7477	29	12	and	and	CCONJ
ajeer-7477	29	13	design	design	NOUN
ajeer-7477	29	14	of	of	ADP
ajeer-7477	29	15	the	the	DET
ajeer-7477	29	16	study	study	NOUN
ajeer-7477	29	17	.	.	PUNCT
ajeer-7477	30	1	all	all	DET
ajeer-7477	30	2	authors	author	NOUN
ajeer-7477	30	3	have	have	AUX
ajeer-7477	30	4	read	read	VERB
ajeer-7477	30	5	and	and	CCONJ
ajeer-7477	30	6	agreed	agree	VERB
ajeer-7477	30	7	to	to	ADP
ajeer-7477	30	8	the	the	DET
ajeer-7477	30	9	published	publish	VERB
ajeer-7477	30	10	version	version	NOUN
ajeer-7477	30	11	of	of	ADP
ajeer-7477	30	12	the	the	DET
ajeer-7477	30	13	manuscript	manuscript	NOUN
ajeer-7477	30	14	.	.	PUNCT
ajeer-7477	31	1	contents	content	NOUN
ajeer-7477	31	2	1	1	NUM
ajeer-7477	31	3	.	.	PUNCT
ajeer-7477	32	1	introduction	introduction	NOUN
ajeer-7477	32	2	....................................................................................................................................................................................	....................................................................................................................................................................................	VERB
ajeer-7477	32	3	105	105	NUM
ajeer-7477	32	4	2	2	NUM
ajeer-7477	32	5	.	.	PUNCT
ajeer-7477	33	1	literature	literature	PROPN
ajeer-7477	33	2	review	review	PROPN
ajeer-7477	33	3	..........................................................................................................................................................................	..........................................................................................................................................................................	PROPN
ajeer-7477	33	4	106	106	NUM
ajeer-7477	33	5	3	3	NUM
ajeer-7477	33	6	.	.	PUNCT
ajeer-7477	33	7	methodology	methodology	NOUN
ajeer-7477	33	8	...................................................................................................................................................................................	...................................................................................................................................................................................	PUNCT
ajeer-7477	34	1	107	107	NUM
ajeer-7477	34	2	4	4	NUM
ajeer-7477	34	3	.	.	PUNCT
ajeer-7477	34	4	results	result	NOUN
ajeer-7477	34	5	discussion	discussion	NOUN
ajeer-7477	34	6	.........................................................................................................................................................................	.........................................................................................................................................................................	PUNCT
ajeer-7477	35	1	108	108	NUM
ajeer-7477	35	2	5	5	NUM
ajeer-7477	35	3	.	.	PUNCT
ajeer-7477	35	4	policy	policy	NOUN
ajeer-7477	35	5	implications	implication	NOUN
ajeer-7477	35	6	and	and	CCONJ
ajeer-7477	35	7	conclusion	conclusion	NOUN
ajeer-7477	35	8	...........................................................................................................................................	...........................................................................................................................................	PUNCT
ajeer-7477	35	9	111	111	NUM
ajeer-7477	35	10	6	6	NUM
ajeer-7477	35	11	.	.	PUNCT
ajeer-7477	35	12	research	research	NOUN
ajeer-7477	35	13	limitation	limitation	NOUN
ajeer-7477	35	14	and	and	CCONJ
ajeer-7477	35	15	future	future	ADJ
ajeer-7477	35	16	direction	direction	NOUN
ajeer-7477	35	17	..............................................................................................................................	..............................................................................................................................	PUNCT
ajeer-7477	36	1	111	111	NUM
ajeer-7477	36	2	references	reference	NOUN
ajeer-7477	36	3	............................................................................................................................................................................................	............................................................................................................................................................................................	PUNCT
ajeer-7477	37	1	112	112	NUM
ajeer-7477	37	2	mailto:ashfaque.ali@iba-suk.edu.pk	mailto:ashfaque.ali@iba-suk.edu.pk	PROPN
ajeer-7477	37	3	mailto:liuhong@student.usm.my	mailto:liuhong@student.usm.my	PROPN
ajeer-7477	37	4	mailto:xuxianhang@cqie.edu.cn	mailto:xuxianhang@cqie.edu.cn	NOUN
ajeer-7477	37	5	mailto:meng91061@student.usm.my	mailto:meng91061@student.usm.my	PROPN
ajeer-7477	37	6	mailto:qimin@student.usm.my	mailto:qimin@student.usm.my	PROPN
ajeer-7477	37	7	https://creativecommons.org/licenses/by/4.0/	https://creativecommons.org/licenses/by/4.0/	PROPN
ajeer-7477	37	8	https://creativecommons.org/licenses/by/4.0/	https://creativecommons.org/licenses/by/4.0/	PROPN
ajeer-7477	38	1	https://www.doi.org/10.20448/ajeer.v12i2.7477	https://www.doi.org/10.20448/ajeer.v12i2.7477	PROPN
ajeer-7477	38	2	https://orcid.org/0000-0002-3775-7272	https://orcid.org/0000-0002-3775-7272	AUX
ajeer-7477	38	3	https://orcid.org/0000-0002-6481-1561	https://orcid.org/0000-0002-6481-1561	PROPN
ajeer-7477	38	4	https://orcid.org/0000-0003-3717-5771	https://orcid.org/0000-0003-3717-5771	PROPN
ajeer-7477	38	5	https://orcid.org/0009-0000-5448-1186	https://orcid.org/0009-0000-5448-1186	VERB
ajeer-7477	38	6	https://orcid.org/0000-0002-8557-4139	https://orcid.org/0000-0002-8557-4139	PROPN
ajeer-7477	38	7	asian	asian	ADJ
ajeer-7477	38	8	journal	journal	PROPN
ajeer-7477	38	9	of	of	ADP
ajeer-7477	38	10	economics	economic	NOUN
ajeer-7477	38	11	and	and	CCONJ
ajeer-7477	38	12	empirical	empirical	ADJ
ajeer-7477	38	13	research	research	NOUN
ajeer-7477	38	14	,	,	PUNCT
ajeer-7477	38	15	2025	2025	NUM
ajeer-7477	38	16	,	,	PUNCT
ajeer-7477	38	17	12(2	12(2	NUM
ajeer-7477	38	18	):	):	PUNCT
ajeer-7477	38	19	104	104	NUM
ajeer-7477	38	20	-	-	SYM
ajeer-7477	38	21	112	112	NUM
ajeer-7477	38	22	105	105	NUM
ajeer-7477	38	23	©	©	ADP
ajeer-7477	38	24	2025	2025	NUM
ajeer-7477	38	25	by	by	ADP
ajeer-7477	38	26	the	the	DET
ajeer-7477	38	27	authors	author	NOUN
ajeer-7477	38	28	;	;	PUNCT
ajeer-7477	38	29	licensee	licensee	PROPN
ajeer-7477	38	30	asian	asian	ADJ
ajeer-7477	38	31	online	online	PROPN
ajeer-7477	38	32	journal	journal	PROPN
ajeer-7477	38	33	publishing	publishing	NOUN
ajeer-7477	38	34	group	group	NOUN
ajeer-7477	38	35	contribution	contribution	NOUN
ajeer-7477	38	36	of	of	ADP
ajeer-7477	38	37	this	this	DET
ajeer-7477	38	38	paper	paper	NOUN
ajeer-7477	38	39	to	to	ADP
ajeer-7477	38	40	the	the	DET
ajeer-7477	38	41	literature	literature	NOUN
ajeer-7477	38	42	this	this	DET
ajeer-7477	38	43	study	study	NOUN
ajeer-7477	38	44	examines	examine	VERB
ajeer-7477	38	45	the	the	DET
ajeer-7477	38	46	complex	complex	ADJ
ajeer-7477	38	47	relationship	relationship	NOUN
ajeer-7477	38	48	between	between	ADP
ajeer-7477	38	49	financial	financial	ADJ
ajeer-7477	38	50	development	development	NOUN
ajeer-7477	38	51	and	and	CCONJ
ajeer-7477	38	52	economic	economic	ADJ
ajeer-7477	38	53	growth	growth	NOUN
ajeer-7477	38	54	through	through	ADP
ajeer-7477	38	55	financial	financial	ADJ
ajeer-7477	38	56	openness	openness	NOUN
ajeer-7477	38	57	by	by	ADP
ajeer-7477	38	58	employing	employ	VERB
ajeer-7477	38	59	a	a	DET
ajeer-7477	38	60	threshold	threshold	NOUN
ajeer-7477	38	61	regression	regression	NOUN
ajeer-7477	38	62	model	model	NOUN
ajeer-7477	38	63	across	across	ADP
ajeer-7477	38	64	three	three	NUM
ajeer-7477	38	65	urban	urban	ADJ
ajeer-7477	38	66	agglomeration	agglomeration	NOUN
ajeer-7477	38	67	regions	region	NOUN
ajeer-7477	38	68	in	in	ADP
ajeer-7477	38	69	china	china	PROPN
ajeer-7477	38	70	,	,	PUNCT
ajeer-7477	38	71	which	which	PRON
ajeer-7477	38	72	have	have	AUX
ajeer-7477	38	73	been	be	AUX
ajeer-7477	38	74	infrequently	infrequently	ADV
ajeer-7477	38	75	studied	study	VERB
ajeer-7477	38	76	previously	previously	ADV
ajeer-7477	38	77	.	.	PUNCT
ajeer-7477	39	1	the	the	DET
ajeer-7477	39	2	primary	primary	ADJ
ajeer-7477	39	3	contribution	contribution	NOUN
ajeer-7477	39	4	of	of	ADP
ajeer-7477	39	5	this	this	DET
ajeer-7477	39	6	research	research	NOUN
ajeer-7477	39	7	is	be	AUX
ajeer-7477	39	8	its	its	PRON
ajeer-7477	39	9	finding	finding	NOUN
ajeer-7477	39	10	that	that	SCONJ
ajeer-7477	39	11	the	the	DET
ajeer-7477	39	12	impact	impact	NOUN
ajeer-7477	39	13	of	of	ADP
ajeer-7477	39	14	financial	financial	ADJ
ajeer-7477	39	15	development	development	NOUN
ajeer-7477	39	16	on	on	ADP
ajeer-7477	39	17	economic	economic	ADJ
ajeer-7477	39	18	growth	growth	NOUN
ajeer-7477	39	19	varies	vary	VERB
ajeer-7477	39	20	across	across	ADP
ajeer-7477	39	21	different	different	ADJ
ajeer-7477	39	22	regimes	regime	NOUN
ajeer-7477	39	23	of	of	ADP
ajeer-7477	39	24	financial	financial	ADJ
ajeer-7477	39	25	openness	openness	NOUN
ajeer-7477	39	26	.	.	PUNCT
ajeer-7477	40	1	1	1	X
ajeer-7477	40	2	.	.	X
ajeer-7477	40	3	introduction	introduction	NOUN
ajeer-7477	40	4	economic	economic	ADJ
ajeer-7477	40	5	growth	growth	NOUN
ajeer-7477	40	6	involves	involve	VERB
ajeer-7477	40	7	a	a	DET
ajeer-7477	40	8	continuous	continuous	ADJ
ajeer-7477	40	9	increase	increase	NOUN
ajeer-7477	40	10	in	in	ADP
ajeer-7477	40	11	a	a	DET
ajeer-7477	40	12	nation	nation	NOUN
ajeer-7477	40	13	's	's	PART
ajeer-7477	40	14	ability	ability	NOUN
ajeer-7477	40	15	to	to	PART
ajeer-7477	40	16	provide	provide	VERB
ajeer-7477	40	17	a	a	DET
ajeer-7477	40	18	wider	wide	ADJ
ajeer-7477	40	19	range	range	NOUN
ajeer-7477	40	20	of	of	ADP
ajeer-7477	40	21	goods	good	NOUN
ajeer-7477	40	22	over	over	ADP
ajeer-7477	40	23	time	time	NOUN
ajeer-7477	40	24	,	,	PUNCT
ajeer-7477	40	25	driven	drive	VERB
ajeer-7477	40	26	by	by	ADP
ajeer-7477	40	27	technological	technological	ADJ
ajeer-7477	40	28	progress	progress	NOUN
ajeer-7477	40	29	and	and	CCONJ
ajeer-7477	40	30	institutional	institutional	ADJ
ajeer-7477	40	31	changes	change	NOUN
ajeer-7477	40	32	(	(	PUNCT
ajeer-7477	40	33	kuznets	kuznet	NOUN
ajeer-7477	40	34	,	,	PUNCT
ajeer-7477	40	35	1963	1963	NUM
ajeer-7477	40	36	)	)	PUNCT
ajeer-7477	40	37	.	.	PUNCT
ajeer-7477	41	1	regarding	regard	VERB
ajeer-7477	41	2	the	the	DET
ajeer-7477	41	3	definition	definition	NOUN
ajeer-7477	41	4	of	of	ADP
ajeer-7477	41	5	financial	financial	ADJ
ajeer-7477	41	6	openness	openness	NOUN
ajeer-7477	41	7	,	,	PUNCT
ajeer-7477	41	8	so	so	ADV
ajeer-7477	41	9	far	far	ADV
ajeer-7477	41	10	the	the	DET
ajeer-7477	41	11	academic	academic	ADJ
ajeer-7477	41	12	community	community	NOUN
ajeer-7477	41	13	has	have	AUX
ajeer-7477	41	14	not	not	PART
ajeer-7477	41	15	provided	provide	VERB
ajeer-7477	41	16	a	a	DET
ajeer-7477	41	17	unified	unified	ADJ
ajeer-7477	41	18	concept	concept	NOUN
ajeer-7477	41	19	.	.	PUNCT
ajeer-7477	42	1	scholars	scholar	NOUN
ajeer-7477	42	2	often	often	ADV
ajeer-7477	42	3	associate	associate	VERB
ajeer-7477	42	4	it	it	PRON
ajeer-7477	42	5	with	with	ADP
ajeer-7477	42	6	broader	broad	ADJ
ajeer-7477	42	7	themes	theme	NOUN
ajeer-7477	42	8	such	such	ADJ
ajeer-7477	42	9	as	as	ADP
ajeer-7477	42	10	financial	financial	ADJ
ajeer-7477	42	11	integration	integration	NOUN
ajeer-7477	42	12	,	,	PUNCT
ajeer-7477	42	13	globalization	globalization	NOUN
ajeer-7477	42	14	,	,	PUNCT
ajeer-7477	42	15	capital	capital	NOUN
ajeer-7477	42	16	account	account	NOUN
ajeer-7477	42	17	liberalization	liberalization	NOUN
ajeer-7477	42	18	,	,	PUNCT
ajeer-7477	42	19	and	and	CCONJ
ajeer-7477	42	20	cross	cross	ADJ
ajeer-7477	42	21	-	-	ADJ
ajeer-7477	42	22	border	border	ADJ
ajeer-7477	42	23	capital	capital	NOUN
ajeer-7477	42	24	mobility	mobility	NOUN
ajeer-7477	42	25	(	(	PUNCT
ajeer-7477	42	26	abiad	abiad	ADJ
ajeer-7477	42	27	,	,	PUNCT
ajeer-7477	42	28	detragiache	detragiache	NOUN
ajeer-7477	42	29	,	,	PUNCT
ajeer-7477	42	30	&	&	CCONJ
ajeer-7477	42	31	tressel	tressel	PROPN
ajeer-7477	42	32	,	,	PUNCT
ajeer-7477	42	33	2004	2004	NUM
ajeer-7477	42	34	;	;	PUNCT
ajeer-7477	42	35	bekaert	bekaert	NOUN
ajeer-7477	42	36	,	,	PUNCT
ajeer-7477	42	37	harvey	harvey	NOUN
ajeer-7477	42	38	,	,	PUNCT
ajeer-7477	42	39	&	&	CCONJ
ajeer-7477	42	40	lundblad	lundblad	NOUN
ajeer-7477	42	41	,	,	PUNCT
ajeer-7477	42	42	2005	2005	NUM
ajeer-7477	42	43	;	;	PUNCT
ajeer-7477	42	44	bussière	bussière	NOUN
ajeer-7477	42	45	&	&	CCONJ
ajeer-7477	42	46	fratzscher	fratzscher	PROPN
ajeer-7477	42	47	,	,	PUNCT
ajeer-7477	42	48	2008	2008	NUM
ajeer-7477	42	49	;	;	PUNCT
ajeer-7477	42	50	huang	huang	PROPN
ajeer-7477	42	51	,	,	PUNCT
ajeer-7477	42	52	2006	2006	NUM
ajeer-7477	42	53	;	;	PUNCT
ajeer-7477	42	54	islamaj	islamaj	NOUN
ajeer-7477	42	55	,	,	PUNCT
ajeer-7477	42	56	2012	2012	NUM
ajeer-7477	42	57	;	;	PUNCT
ajeer-7477	42	58	ito	ito	PROPN
ajeer-7477	42	59	,	,	PUNCT
ajeer-7477	42	60	2011	2011	NUM
ajeer-7477	42	61	;	;	PUNCT
ajeer-7477	42	62	kose	kose	VERB
ajeer-7477	42	63	,	,	PUNCT
ajeer-7477	42	64	prasad	prasad	PROPN
ajeer-7477	42	65	,	,	PUNCT
ajeer-7477	42	66	&	&	CCONJ
ajeer-7477	42	67	terrones	terrone	NOUN
ajeer-7477	42	68	,	,	PUNCT
ajeer-7477	42	69	2009	2009	NUM
ajeer-7477	42	70	;	;	PUNCT
ajeer-7477	42	71	nasreen	nasreen	NUM
ajeer-7477	42	72	,	,	PUNCT
ajeer-7477	42	73	shah	shah	NOUN
ajeer-7477	42	74	,	,	PUNCT
ajeer-7477	42	75	&	&	CCONJ
ajeer-7477	42	76	ahmed	ahmed	PROPN
ajeer-7477	42	77	,	,	PUNCT
ajeer-7477	42	78	2020	2020	NUM
ajeer-7477	42	79	;	;	PUNCT
ajeer-7477	42	80	obstfeld	obstfeld	VERB
ajeer-7477	42	81	,	,	PUNCT
ajeer-7477	42	82	2009	2009	NUM
ajeer-7477	42	83	;	;	PUNCT
ajeer-7477	42	84	quinn	quinn	PROPN
ajeer-7477	42	85	&	&	CCONJ
ajeer-7477	42	86	inclan	inclan	PROPN
ajeer-7477	42	87	,	,	PUNCT
ajeer-7477	42	88	2009	2009	NUM
ajeer-7477	42	89	;	;	PUNCT
ajeer-7477	42	90	wooldridge	wooldridge	PROPN
ajeer-7477	42	91	,	,	PUNCT
ajeer-7477	42	92	2007	2007	NUM
ajeer-7477	42	93	)	)	PUNCT
ajeer-7477	42	94	.	.	PUNCT
ajeer-7477	43	1	others	other	NOUN
ajeer-7477	43	2	frame	frame	VERB
ajeer-7477	43	3	it	it	PRON
ajeer-7477	43	4	as	as	ADP
ajeer-7477	43	5	a	a	DET
ajeer-7477	43	6	component	component	NOUN
ajeer-7477	43	7	of	of	ADP
ajeer-7477	43	8	economic	economic	ADJ
ajeer-7477	43	9	openness	openness	NOUN
ajeer-7477	43	10	,	,	PUNCT
ajeer-7477	43	11	emphasizing	emphasize	VERB
ajeer-7477	43	12	reduced	reduce	VERB
ajeer-7477	43	13	barriers	barrier	NOUN
ajeer-7477	43	14	to	to	ADP
ajeer-7477	43	15	foreign	foreign	ADJ
ajeer-7477	43	16	investment	investment	NOUN
ajeer-7477	43	17	and	and	CCONJ
ajeer-7477	43	18	deeper	deep	ADJ
ajeer-7477	43	19	linkages	linkage	NOUN
ajeer-7477	43	20	with	with	ADP
ajeer-7477	43	21	global	global	ADJ
ajeer-7477	43	22	financial	financial	ADJ
ajeer-7477	43	23	systems	system	NOUN
ajeer-7477	43	24	.	.	PUNCT
ajeer-7477	44	1	this	this	DET
ajeer-7477	44	2	study	study	NOUN
ajeer-7477	44	3	also	also	ADV
ajeer-7477	44	4	agrees	agree	VERB
ajeer-7477	44	5	with	with	ADP
ajeer-7477	44	6	the	the	DET
ajeer-7477	44	7	view	view	NOUN
ajeer-7477	44	8	of	of	ADP
ajeer-7477	44	9	previous	previous	ADJ
ajeer-7477	44	10	studies	study	NOUN
ajeer-7477	44	11	jia	jia	X
ajeer-7477	44	12	(	(	PUNCT
ajeer-7477	44	13	2005	2005	NUM
ajeer-7477	44	14	)	)	PUNCT
ajeer-7477	44	15	and	and	CCONJ
ajeer-7477	44	16	xie	xie	PROPN
ajeer-7477	44	17	and	and	CCONJ
ajeer-7477	44	18	pan	pan	PROPN
ajeer-7477	44	19	(	(	PUNCT
ajeer-7477	44	20	2018	2018	NUM
ajeer-7477	44	21	)	)	PUNCT
ajeer-7477	44	22	that	that	SCONJ
ajeer-7477	44	23	financial	financial	ADJ
ajeer-7477	44	24	openness	openness	NOUN
ajeer-7477	44	25	involves	involve	VERB
ajeer-7477	44	26	receiving	receive	VERB
ajeer-7477	44	27	foreign	foreign	ADJ
ajeer-7477	44	28	capital	capital	NOUN
ajeer-7477	44	29	freely	freely	ADV
ajeer-7477	44	30	and	and	CCONJ
ajeer-7477	44	31	tends	tend	VERB
ajeer-7477	44	32	to	to	PART
ajeer-7477	44	33	embrace	embrace	VERB
ajeer-7477	44	34	foreign	foreign	ADJ
ajeer-7477	44	35	capital	capital	NOUN
ajeer-7477	44	36	,	,	PUNCT
ajeer-7477	44	37	intertwining	intertwine	VERB
ajeer-7477	44	38	with	with	ADP
ajeer-7477	44	39	global	global	ADJ
ajeer-7477	44	40	financial	financial	ADJ
ajeer-7477	44	41	networks	network	NOUN
ajeer-7477	44	42	.	.	PUNCT
ajeer-7477	45	1	the	the	DET
ajeer-7477	45	2	world	world	PROPN
ajeer-7477	45	3	bank	bank	PROPN
ajeer-7477	45	4	highlights	highlight	NOUN
ajeer-7477	45	5	that	that	SCONJ
ajeer-7477	45	6	strengthening	strengthen	VERB
ajeer-7477	45	7	the	the	DET
ajeer-7477	45	8	financial	financial	ADJ
ajeer-7477	45	9	sector	sector	NOUN
ajeer-7477	45	10	requires	require	VERB
ajeer-7477	45	11	addressing	address	VERB
ajeer-7477	45	12	costs	cost	NOUN
ajeer-7477	45	13	related	relate	VERB
ajeer-7477	45	14	to	to	ADP
ajeer-7477	45	15	information	information	NOUN
ajeer-7477	45	16	,	,	PUNCT
ajeer-7477	45	17	contract	contract	NOUN
ajeer-7477	45	18	enforcement	enforcement	NOUN
ajeer-7477	45	19	,	,	PUNCT
ajeer-7477	45	20	and	and	CCONJ
ajeer-7477	45	21	transactions	transaction	NOUN
ajeer-7477	45	22	,	,	PUNCT
ajeer-7477	45	23	thereby	thereby	ADV
ajeer-7477	45	24	enhancing	enhance	VERB
ajeer-7477	45	25	the	the	DET
ajeer-7477	45	26	sector	sector	NOUN
ajeer-7477	45	27	’s	’s	PART
ajeer-7477	45	28	resilience	resilience	NOUN
ajeer-7477	45	29	and	and	CCONJ
ajeer-7477	45	30	efficiency	efficiency	NOUN
ajeer-7477	45	31	(	(	PUNCT
ajeer-7477	45	32	the	the	DET
ajeer-7477	45	33	world	world	PROPN
ajeer-7477	45	34	bank	bank	PROPN
ajeer-7477	45	35	,	,	PUNCT
ajeer-7477	45	36	2025	2025	NUM
ajeer-7477	45	37	)	)	PUNCT
ajeer-7477	45	38	.	.	PUNCT
ajeer-7477	46	1	consequently	consequently	ADV
ajeer-7477	46	2	,	,	PUNCT
ajeer-7477	46	3	this	this	DET
ajeer-7477	46	4	study	study	NOUN
ajeer-7477	46	5	defines	define	VERB
ajeer-7477	46	6	financial	financial	ADJ
ajeer-7477	46	7	development	development	NOUN
ajeer-7477	46	8	as	as	ADP
ajeer-7477	46	9	a	a	DET
ajeer-7477	46	10	transformative	transformative	ADJ
ajeer-7477	46	11	process	process	NOUN
ajeer-7477	46	12	that	that	PRON
ajeer-7477	46	13	enhances	enhance	VERB
ajeer-7477	46	14	a	a	DET
ajeer-7477	46	15	financial	financial	ADJ
ajeer-7477	46	16	system	system	NOUN
ajeer-7477	46	17	’s	’s	PART
ajeer-7477	46	18	capacity	capacity	NOUN
ajeer-7477	46	19	to	to	PART
ajeer-7477	46	20	overcome	overcome	VERB
ajeer-7477	46	21	structural	structural	ADJ
ajeer-7477	46	22	barriers	barrier	NOUN
ajeer-7477	46	23	and	and	CCONJ
ajeer-7477	46	24	support	support	VERB
ajeer-7477	46	25	sustainable	sustainable	ADJ
ajeer-7477	46	26	economic	economic	ADJ
ajeer-7477	46	27	growth	growth	NOUN
ajeer-7477	46	28	.	.	PUNCT
ajeer-7477	47	1	in	in	ADP
ajeer-7477	47	2	2006	2006	NUM
ajeer-7477	47	3	,	,	PUNCT
ajeer-7477	47	4	the	the	DET
ajeer-7477	47	5	11th	11th	ADJ
ajeer-7477	47	6	five	five	NUM
ajeer-7477	47	7	-	-	PUNCT
ajeer-7477	47	8	year	year	NOUN
ajeer-7477	47	9	plan	plan	NOUN
ajeer-7477	47	10	of	of	ADP
ajeer-7477	47	11	china	china	PROPN
ajeer-7477	47	12	introduced	introduce	VERB
ajeer-7477	47	13	the	the	DET
ajeer-7477	47	14	idea	idea	NOUN
ajeer-7477	47	15	of	of	ADP
ajeer-7477	47	16	"	"	PUNCT
ajeer-7477	47	17	urban	urban	ADJ
ajeer-7477	47	18	agglomeration	agglomeration	NOUN
ajeer-7477	47	19	as	as	ADP
ajeer-7477	47	20	the	the	DET
ajeer-7477	47	21	key	key	ADJ
ajeer-7477	47	22	way	way	NOUN
ajeer-7477	47	23	to	to	PART
ajeer-7477	47	24	grow	grow	VERB
ajeer-7477	47	25	urban	urban	ADJ
ajeer-7477	47	26	areas	area	NOUN
ajeer-7477	47	27	,	,	PUNCT
ajeer-7477	47	28	"	"	PUNCT
ajeer-7477	47	29	marking	mark	VERB
ajeer-7477	47	30	the	the	DET
ajeer-7477	47	31	initial	initial	ADJ
ajeer-7477	47	32	exploration	exploration	NOUN
ajeer-7477	47	33	of	of	ADP
ajeer-7477	47	34	the	the	DET
ajeer-7477	47	35	new	new	ADJ
ajeer-7477	47	36	regional	regional	ADJ
ajeer-7477	47	37	governance	governance	NOUN
ajeer-7477	47	38	model	model	NOUN
ajeer-7477	47	39	termed	term	VERB
ajeer-7477	47	40	"	"	PUNCT
ajeer-7477	47	41	group	group	NOUN
ajeer-7477	47	42	.	.	PUNCT
ajeer-7477	47	43	"	"	PUNCT
ajeer-7477	48	1	although	although	SCONJ
ajeer-7477	48	2	the	the	DET
ajeer-7477	48	3	significance	significance	NOUN
ajeer-7477	48	4	of	of	ADP
ajeer-7477	48	5	urban	urban	ADJ
ajeer-7477	48	6	agglomeration	agglomeration	NOUN
ajeer-7477	48	7	for	for	ADP
ajeer-7477	48	8	regional	regional	ADJ
ajeer-7477	48	9	coordination	coordination	NOUN
ajeer-7477	48	10	was	be	AUX
ajeer-7477	48	11	repeatedly	repeatedly	ADV
ajeer-7477	48	12	underscored	underscore	VERB
ajeer-7477	48	13	in	in	ADP
ajeer-7477	48	14	central	central	ADJ
ajeer-7477	48	15	government	government	NOUN
ajeer-7477	48	16	documents	document	NOUN
ajeer-7477	48	17	and	and	CCONJ
ajeer-7477	48	18	reports	report	NOUN
ajeer-7477	48	19	from	from	ADP
ajeer-7477	48	20	2007	2007	NUM
ajeer-7477	48	21	to	to	ADP
ajeer-7477	48	22	2016	2016	NUM
ajeer-7477	48	23	,	,	PUNCT
ajeer-7477	48	24	there	there	PRON
ajeer-7477	48	25	was	be	VERB
ajeer-7477	48	26	no	no	DET
ajeer-7477	48	27	explicit	explicit	ADJ
ajeer-7477	48	28	intention	intention	NOUN
ajeer-7477	48	29	to	to	PART
ajeer-7477	48	30	deepen	deepen	VERB
ajeer-7477	48	31	its	its	PRON
ajeer-7477	48	32	promotion	promotion	NOUN
ajeer-7477	48	33	during	during	ADP
ajeer-7477	48	34	that	that	DET
ajeer-7477	48	35	period	period	NOUN
ajeer-7477	48	36	.	.	PUNCT
ajeer-7477	49	1	in	in	ADP
ajeer-7477	49	2	2014	2014	NUM
ajeer-7477	49	3	,	,	PUNCT
ajeer-7477	49	4	president	president	NOUN
ajeer-7477	49	5	xi	xi	PROPN
ajeer-7477	49	6	jinping	jinpe	VERB
ajeer-7477	49	7	suggested	suggest	VERB
ajeer-7477	49	8	a	a	DET
ajeer-7477	49	9	plan	plan	NOUN
ajeer-7477	49	10	to	to	PART
ajeer-7477	49	11	make	make	VERB
ajeer-7477	49	12	beijing	beijing	NOUN
ajeer-7477	49	13	the	the	DET
ajeer-7477	49	14	main	main	ADJ
ajeer-7477	49	15	city	city	NOUN
ajeer-7477	49	16	of	of	ADP
ajeer-7477	49	17	the	the	DET
ajeer-7477	49	18	beijing	beijing	PROPN
ajeer-7477	49	19	-	-	PUNCT
ajeer-7477	49	20	tianjin	tianjin	PROPN
ajeer-7477	49	21	-	-	PUNCT
ajeer-7477	49	22	hebei	hebei	PROPN
ajeer-7477	49	23	region	region	NOUN
ajeer-7477	49	24	(	(	PUNCT
ajeer-7477	49	25	jing	jing	NOUN
ajeer-7477	49	26	-	-	PUNCT
ajeer-7477	49	27	jin	jin	PROPN
ajeer-7477	49	28	-	-	PUNCT
ajeer-7477	49	29	ji	ji	PROPN
ajeer-7477	49	30	)	)	PUNCT
ajeer-7477	49	31	.	.	PUNCT
ajeer-7477	50	1	the	the	DET
ajeer-7477	50	2	term	term	NOUN
ajeer-7477	50	3	"	"	PUNCT
ajeer-7477	50	4	city	city	NOUN
ajeer-7477	50	5	cluster	cluster	NOUN
ajeer-7477	50	6	"	"	PUNCT
ajeer-7477	50	7	gained	gain	VERB
ajeer-7477	50	8	official	official	ADJ
ajeer-7477	50	9	recognition	recognition	NOUN
ajeer-7477	50	10	in	in	ADP
ajeer-7477	50	11	government	government	NOUN
ajeer-7477	50	12	documents	document	NOUN
ajeer-7477	50	13	following	follow	VERB
ajeer-7477	50	14	xi	xi	PROPN
ajeer-7477	50	15	's	's	PART
ajeer-7477	50	16	endorsement	endorsement	NOUN
ajeer-7477	50	17	,	,	PUNCT
ajeer-7477	50	18	sparking	spark	VERB
ajeer-7477	50	19	increased	increase	VERB
ajeer-7477	50	20	interest	interest	NOUN
ajeer-7477	50	21	in	in	ADP
ajeer-7477	50	22	regional	regional	ADJ
ajeer-7477	50	23	governance	governance	NOUN
ajeer-7477	50	24	.	.	PUNCT
ajeer-7477	51	1	in	in	ADP
ajeer-7477	51	2	2017	2017	NUM
ajeer-7477	51	3	,	,	PUNCT
ajeer-7477	51	4	the	the	DET
ajeer-7477	51	5	report	report	NOUN
ajeer-7477	51	6	presented	present	VERB
ajeer-7477	51	7	at	at	ADP
ajeer-7477	51	8	the	the	DET
ajeer-7477	51	9	19th	19th	ADJ
ajeer-7477	51	10	congress	congress	PROPN
ajeer-7477	51	11	of	of	ADP
ajeer-7477	51	12	china	china	PROPN
ajeer-7477	51	13	's	's	PART
ajeer-7477	51	14	communist	communist	PROPN
ajeer-7477	51	15	party	party	PROPN
ajeer-7477	51	16	articulated	articulate	VERB
ajeer-7477	51	17	the	the	DET
ajeer-7477	51	18	goal	goal	NOUN
ajeer-7477	51	19	of	of	ADP
ajeer-7477	51	20	establishing	establish	VERB
ajeer-7477	51	21	a	a	DET
ajeer-7477	51	22	pattern	pattern	NOUN
ajeer-7477	51	23	of	of	ADP
ajeer-7477	51	24	working	work	VERB
ajeer-7477	51	25	together	together	ADV
ajeer-7477	51	26	to	to	PART
ajeer-7477	51	27	grow	grow	VERB
ajeer-7477	51	28	big	big	ADJ
ajeer-7477	51	29	,	,	PUNCT
ajeer-7477	51	30	medium	medium	ADJ
ajeer-7477	51	31	,	,	PUNCT
ajeer-7477	51	32	and	and	CCONJ
ajeer-7477	51	33	small	small	ADJ
ajeer-7477	51	34	cities	city	NOUN
ajeer-7477	51	35	and	and	CCONJ
ajeer-7477	51	36	towns	town	NOUN
ajeer-7477	51	37	,	,	PUNCT
ajeer-7477	51	38	with	with	ADP
ajeer-7477	51	39	a	a	DET
ajeer-7477	51	40	focus	focus	NOUN
ajeer-7477	51	41	mainly	mainly	ADV
ajeer-7477	51	42	on	on	ADP
ajeer-7477	51	43	urban	urban	ADJ
ajeer-7477	51	44	agglomerations	agglomeration	NOUN
ajeer-7477	51	45	.	.	PUNCT
ajeer-7477	52	1	this	this	PRON
ajeer-7477	52	2	marked	mark	VERB
ajeer-7477	52	3	the	the	DET
ajeer-7477	52	4	first	first	ADJ
ajeer-7477	52	5	clear	clear	ADJ
ajeer-7477	52	6	acknowledgment	acknowledgment	NOUN
ajeer-7477	52	7	that	that	SCONJ
ajeer-7477	52	8	urban	urban	ADJ
ajeer-7477	52	9	agglomerations	agglomeration	NOUN
ajeer-7477	52	10	were	be	AUX
ajeer-7477	52	11	to	to	PART
ajeer-7477	52	12	be	be	AUX
ajeer-7477	52	13	the	the	DET
ajeer-7477	52	14	main	main	ADJ
ajeer-7477	52	15	drivers	driver	NOUN
ajeer-7477	52	16	of	of	ADP
ajeer-7477	52	17	coordinated	coordinated	ADJ
ajeer-7477	52	18	development	development	NOUN
ajeer-7477	52	19	among	among	ADP
ajeer-7477	52	20	cities	city	NOUN
ajeer-7477	52	21	of	of	ADP
ajeer-7477	52	22	varying	vary	VERB
ajeer-7477	52	23	sizes	size	NOUN
ajeer-7477	52	24	,	,	PUNCT
ajeer-7477	52	25	outlining	outline	VERB
ajeer-7477	52	26	the	the	DET
ajeer-7477	52	27	strategic	strategic	ADJ
ajeer-7477	52	28	direction	direction	NOUN
ajeer-7477	52	29	for	for	ADP
ajeer-7477	52	30	building	building	NOUN
ajeer-7477	52	31	and	and	CCONJ
ajeer-7477	52	32	growing	grow	VERB
ajeer-7477	52	33	urban	urban	ADJ
ajeer-7477	52	34	agglomerations	agglomeration	NOUN
ajeer-7477	52	35	(	(	PUNCT
ajeer-7477	52	36	wu	wu	PROPN
ajeer-7477	52	37	,	,	PUNCT
ajeer-7477	52	38	2021	2021	NUM
ajeer-7477	52	39	)	)	PUNCT
ajeer-7477	52	40	.	.	PUNCT
ajeer-7477	53	1	the	the	DET
ajeer-7477	53	2	combined	combined	ADJ
ajeer-7477	53	3	gdp	gdp	NOUN
ajeer-7477	53	4	of	of	ADP
ajeer-7477	53	5	the	the	DET
ajeer-7477	53	6	yangtze	yangtze	PROPN
ajeer-7477	53	7	river	river	PROPN
ajeer-7477	53	8	delta	delta	PROPN
ajeer-7477	53	9	,	,	PUNCT
ajeer-7477	53	10	pearl	pearl	NOUN
ajeer-7477	53	11	river	river	PROPN
ajeer-7477	53	12	delta	delta	NOUN
ajeer-7477	53	13	,	,	PUNCT
ajeer-7477	53	14	and	and	CCONJ
ajeer-7477	53	15	beijing	beijing	PROPN
ajeer-7477	53	16	-	-	PUNCT
ajeer-7477	53	17	tianjin	tianjin	PROPN
ajeer-7477	53	18	-	-	PUNCT
ajeer-7477	53	19	hebei	hebei	PROPN
ajeer-7477	53	20	urban	urban	ADJ
ajeer-7477	53	21	agglomeration	agglomeration	NOUN
ajeer-7477	53	22	exceeds	exceed	VERB
ajeer-7477	53	23	40	40	NUM
ajeer-7477	53	24	%	%	NOUN
ajeer-7477	53	25	of	of	ADP
ajeer-7477	53	26	the	the	DET
ajeer-7477	53	27	country	country	NOUN
ajeer-7477	53	28	's	's	PART
ajeer-7477	53	29	total	total	NOUN
ajeer-7477	53	30	,	,	PUNCT
ajeer-7477	53	31	playing	play	VERB
ajeer-7477	53	32	a	a	DET
ajeer-7477	53	33	crucial	crucial	ADJ
ajeer-7477	53	34	role	role	NOUN
ajeer-7477	53	35	in	in	ADP
ajeer-7477	53	36	the	the	DET
ajeer-7477	53	37	nation	nation	NOUN
ajeer-7477	53	38	's	's	PART
ajeer-7477	53	39	economic	economic	ADJ
ajeer-7477	53	40	stability	stability	NOUN
ajeer-7477	53	41	,	,	PUNCT
ajeer-7477	53	42	serving	serve	VERB
ajeer-7477	53	43	as	as	ADP
ajeer-7477	53	44	a	a	DET
ajeer-7477	53	45	source	source	NOUN
ajeer-7477	53	46	of	of	ADP
ajeer-7477	53	47	high	high	ADJ
ajeer-7477	53	48	-	-	PUNCT
ajeer-7477	53	49	quality	quality	NOUN
ajeer-7477	53	50	development	development	NOUN
ajeer-7477	53	51	,	,	PUNCT
ajeer-7477	53	52	and	and	CCONJ
ajeer-7477	53	53	acting	act	VERB
ajeer-7477	53	54	as	as	ADP
ajeer-7477	53	55	a	a	DET
ajeer-7477	53	56	testing	testing	NOUN
ajeer-7477	53	57	ground	ground	NOUN
ajeer-7477	53	58	for	for	ADP
ajeer-7477	53	59	reforms	reform	NOUN
ajeer-7477	53	60	.	.	PUNCT
ajeer-7477	54	1	according	accord	VERB
ajeer-7477	54	2	to	to	ADP
ajeer-7477	54	3	zhang	zhang	PROPN
ajeer-7477	54	4	(	(	PUNCT
ajeer-7477	54	5	2022	2022	NUM
ajeer-7477	54	6	)	)	PUNCT
ajeer-7477	54	7	,	,	PUNCT
ajeer-7477	54	8	these	these	DET
ajeer-7477	54	9	three	three	NUM
ajeer-7477	54	10	regions	region	NOUN
ajeer-7477	54	11	demonstrate	demonstrate	VERB
ajeer-7477	54	12	economies	economy	NOUN
ajeer-7477	54	13	of	of	ADP
ajeer-7477	54	14	scale	scale	NOUN
ajeer-7477	54	15	,	,	PUNCT
ajeer-7477	54	16	a	a	DET
ajeer-7477	54	17	rapid	rapid	ADJ
ajeer-7477	54	18	accumulation	accumulation	NOUN
ajeer-7477	54	19	of	of	ADP
ajeer-7477	54	20	innovation	innovation	NOUN
ajeer-7477	54	21	elements	element	NOUN
ajeer-7477	54	22	,	,	PUNCT
ajeer-7477	54	23	a	a	DET
ajeer-7477	54	24	concentration	concentration	NOUN
ajeer-7477	54	25	of	of	ADP
ajeer-7477	54	26	highlevel	highlevel	ADJ
ajeer-7477	54	27	talents	talent	NOUN
ajeer-7477	54	28	,	,	PUNCT
ajeer-7477	54	29	and	and	CCONJ
ajeer-7477	54	30	stand	stand	VERB
ajeer-7477	54	31	at	at	ADP
ajeer-7477	54	32	the	the	DET
ajeer-7477	54	33	forefront	forefront	NOUN
ajeer-7477	54	34	of	of	ADP
ajeer-7477	54	35	connecting	connect	VERB
ajeer-7477	54	36	with	with	ADP
ajeer-7477	54	37	other	other	ADJ
ajeer-7477	54	38	countries	country	NOUN
ajeer-7477	54	39	,	,	PUNCT
ajeer-7477	54	40	making	make	VERB
ajeer-7477	54	41	them	they	PRON
ajeer-7477	54	42	the	the	DET
ajeer-7477	54	43	main	main	ADJ
ajeer-7477	54	44	drivers	driver	NOUN
ajeer-7477	54	45	of	of	ADP
ajeer-7477	54	46	china	china	PROPN
ajeer-7477	54	47	's	's	PART
ajeer-7477	54	48	technological	technological	ADJ
ajeer-7477	54	49	innovation	innovation	NOUN
ajeer-7477	54	50	and	and	CCONJ
ajeer-7477	54	51	pioneers	pioneer	NOUN
ajeer-7477	54	52	in	in	ADP
ajeer-7477	54	53	institutional	institutional	ADJ
ajeer-7477	54	54	opening	opening	NOUN
ajeer-7477	54	55	up	up	ADP
ajeer-7477	54	56	.	.	PUNCT
ajeer-7477	55	1	financial	financial	ADJ
ajeer-7477	55	2	development	development	NOUN
ajeer-7477	55	3	defined	define	VERB
ajeer-7477	55	4	as	as	ADP
ajeer-7477	55	5	the	the	DET
ajeer-7477	55	6	evolution	evolution	NOUN
ajeer-7477	55	7	and	and	CCONJ
ajeer-7477	55	8	increased	increase	VERB
ajeer-7477	55	9	complexity	complexity	NOUN
ajeer-7477	55	10	of	of	ADP
ajeer-7477	55	11	a	a	DET
ajeer-7477	55	12	country	country	NOUN
ajeer-7477	55	13	’s	’s	PART
ajeer-7477	55	14	financial	financial	ADJ
ajeer-7477	55	15	markets	market	NOUN
ajeer-7477	55	16	and	and	CCONJ
ajeer-7477	55	17	institutions	institution	NOUN
ajeer-7477	55	18	plays	play	VERB
ajeer-7477	55	19	a	a	DET
ajeer-7477	55	20	key	key	ADJ
ajeer-7477	55	21	role	role	NOUN
ajeer-7477	55	22	in	in	ADP
ajeer-7477	55	23	stimulating	stimulate	VERB
ajeer-7477	55	24	economic	economic	ADJ
ajeer-7477	55	25	growth	growth	NOUN
ajeer-7477	55	26	.	.	PUNCT
ajeer-7477	56	1	it	it	PRON
ajeer-7477	56	2	involves	involve	VERB
ajeer-7477	56	3	the	the	DET
ajeer-7477	56	4	progress	progress	NOUN
ajeer-7477	56	5	of	of	ADP
ajeer-7477	56	6	banks	bank	NOUN
ajeer-7477	56	7	,	,	PUNCT
ajeer-7477	56	8	markets	market	NOUN
ajeer-7477	56	9	,	,	PUNCT
ajeer-7477	56	10	and	and	CCONJ
ajeer-7477	56	11	financial	financial	ADJ
ajeer-7477	56	12	instruments	instrument	NOUN
ajeer-7477	56	13	that	that	PRON
ajeer-7477	56	14	help	help	AUX
ajeer-7477	56	15	mobilize	mobilize	VERB
ajeer-7477	56	16	savings	saving	NOUN
ajeer-7477	56	17	,	,	PUNCT
ajeer-7477	56	18	direct	direct	ADJ
ajeer-7477	56	19	investments	investment	NOUN
ajeer-7477	56	20	efficiently	efficiently	ADV
ajeer-7477	56	21	,	,	PUNCT
ajeer-7477	56	22	and	and	CCONJ
ajeer-7477	56	23	manage	manage	VERB
ajeer-7477	56	24	risks	risk	NOUN
ajeer-7477	56	25	.	.	PUNCT
ajeer-7477	57	1	an	an	DET
ajeer-7477	57	2	advanced	advanced	ADJ
ajeer-7477	57	3	financial	financial	ADJ
ajeer-7477	57	4	system	system	NOUN
ajeer-7477	57	5	not	not	PART
ajeer-7477	57	6	only	only	ADV
ajeer-7477	57	7	channels	channel	NOUN
ajeer-7477	57	8	savings	saving	NOUN
ajeer-7477	57	9	into	into	ADP
ajeer-7477	57	10	productive	productive	ADJ
ajeer-7477	57	11	ventures	venture	NOUN
ajeer-7477	57	12	but	but	CCONJ
ajeer-7477	57	13	also	also	ADV
ajeer-7477	57	14	enhances	enhance	VERB
ajeer-7477	57	15	resource	resource	NOUN
ajeer-7477	57	16	allocation	allocation	NOUN
ajeer-7477	57	17	by	by	ADP
ajeer-7477	57	18	offering	offer	VERB
ajeer-7477	57	19	improved	improve	VERB
ajeer-7477	57	20	investment	investment	NOUN
ajeer-7477	57	21	information	information	NOUN
ajeer-7477	57	22	and	and	CCONJ
ajeer-7477	57	23	supports	support	VERB
ajeer-7477	57	24	technological	technological	ADJ
ajeer-7477	57	25	innovation	innovation	NOUN
ajeer-7477	57	26	through	through	ADP
ajeer-7477	57	27	funding	funding	NOUN
ajeer-7477	57	28	projects	project	NOUN
ajeer-7477	57	29	with	with	ADP
ajeer-7477	57	30	higher	high	ADJ
ajeer-7477	57	31	risk	risk	NOUN
ajeer-7477	57	32	and	and	CCONJ
ajeer-7477	57	33	return	return	NOUN
ajeer-7477	57	34	.	.	PUNCT
ajeer-7477	58	1	moreover	moreover	ADV
ajeer-7477	58	2	,	,	PUNCT
ajeer-7477	58	3	by	by	ADP
ajeer-7477	58	4	reducing	reduce	VERB
ajeer-7477	58	5	information	information	NOUN
ajeer-7477	58	6	gaps	gap	NOUN
ajeer-7477	58	7	,	,	PUNCT
ajeer-7477	58	8	lowering	lower	VERB
ajeer-7477	58	9	transaction	transaction	NOUN
ajeer-7477	58	10	costs	cost	NOUN
ajeer-7477	58	11	,	,	PUNCT
ajeer-7477	58	12	and	and	CCONJ
ajeer-7477	58	13	facilitating	facilitate	VERB
ajeer-7477	58	14	both	both	CCONJ
ajeer-7477	58	15	trade	trade	NOUN
ajeer-7477	58	16	and	and	CCONJ
ajeer-7477	58	17	foreign	foreign	ADJ
ajeer-7477	58	18	investment	investment	NOUN
ajeer-7477	58	19	,	,	PUNCT
ajeer-7477	58	20	a	a	DET
ajeer-7477	58	21	robust	robust	ADJ
ajeer-7477	58	22	financial	financial	ADJ
ajeer-7477	58	23	system	system	NOUN
ajeer-7477	58	24	becomes	become	VERB
ajeer-7477	58	25	a	a	DET
ajeer-7477	58	26	cornerstone	cornerstone	NOUN
ajeer-7477	58	27	for	for	ADP
ajeer-7477	58	28	long	long	ADJ
ajeer-7477	58	29	-	-	PUNCT
ajeer-7477	58	30	term	term	NOUN
ajeer-7477	58	31	economic	economic	ADJ
ajeer-7477	58	32	prosperity	prosperity	NOUN
ajeer-7477	58	33	.	.	PUNCT
ajeer-7477	59	1	this	this	DET
ajeer-7477	59	2	phenomenon	phenomenon	NOUN
ajeer-7477	59	3	is	be	AUX
ajeer-7477	59	4	particularly	particularly	ADV
ajeer-7477	59	5	evident	evident	ADJ
ajeer-7477	59	6	in	in	ADP
ajeer-7477	59	7	china	china	PROPN
ajeer-7477	59	8	's	's	PART
ajeer-7477	59	9	urban	urban	ADJ
ajeer-7477	59	10	clusters	cluster	NOUN
ajeer-7477	59	11	,	,	PUNCT
ajeer-7477	59	12	where	where	SCONJ
ajeer-7477	59	13	financial	financial	ADJ
ajeer-7477	59	14	advancements	advancement	NOUN
ajeer-7477	59	15	have	have	AUX
ajeer-7477	59	16	significantly	significantly	ADV
ajeer-7477	59	17	contributed	contribute	VERB
ajeer-7477	59	18	to	to	ADP
ajeer-7477	59	19	rapid	rapid	ADJ
ajeer-7477	59	20	economic	economic	ADJ
ajeer-7477	59	21	growth	growth	NOUN
ajeer-7477	59	22	.	.	PUNCT
ajeer-7477	60	1	on	on	ADP
ajeer-7477	60	2	the	the	DET
ajeer-7477	60	3	other	other	ADJ
ajeer-7477	60	4	hand	hand	NOUN
ajeer-7477	60	5	,	,	PUNCT
ajeer-7477	60	6	financial	financial	ADJ
ajeer-7477	60	7	openness	openness	NOUN
ajeer-7477	60	8	refers	refer	VERB
ajeer-7477	60	9	to	to	ADP
ajeer-7477	60	10	the	the	DET
ajeer-7477	60	11	extent	extent	NOUN
ajeer-7477	60	12	to	to	PART
ajeer-7477	60	13	which	which	PRON
ajeer-7477	60	14	a	a	DET
ajeer-7477	60	15	country	country	NOUN
ajeer-7477	60	16	's	's	PART
ajeer-7477	60	17	financial	financial	ADJ
ajeer-7477	60	18	institutions	institution	NOUN
ajeer-7477	60	19	and	and	CCONJ
ajeer-7477	60	20	markets	market	NOUN
ajeer-7477	60	21	are	be	AUX
ajeer-7477	60	22	integrated	integrate	VERB
ajeer-7477	60	23	with	with	ADP
ajeer-7477	60	24	those	those	DET
ajeer-7477	60	25	worldwide	worldwide	ADV
ajeer-7477	60	26	,	,	PUNCT
ajeer-7477	60	27	and	and	CCONJ
ajeer-7477	60	28	it	it	PRON
ajeer-7477	60	29	is	be	AUX
ajeer-7477	60	30	widely	widely	ADV
ajeer-7477	60	31	regarded	regard	VERB
ajeer-7477	60	32	as	as	ADP
ajeer-7477	60	33	a	a	DET
ajeer-7477	60	34	key	key	ADJ
ajeer-7477	60	35	factor	factor	NOUN
ajeer-7477	60	36	in	in	ADP
ajeer-7477	60	37	driving	drive	VERB
ajeer-7477	60	38	economic	economic	ADJ
ajeer-7477	60	39	growth	growth	NOUN
ajeer-7477	60	40	.	.	PUNCT
ajeer-7477	61	1	by	by	ADP
ajeer-7477	61	2	attracting	attract	VERB
ajeer-7477	61	3	foreign	foreign	ADJ
ajeer-7477	61	4	capital	capital	NOUN
ajeer-7477	61	5	,	,	PUNCT
ajeer-7477	61	6	intensifying	intensify	VERB
ajeer-7477	61	7	competition	competition	NOUN
ajeer-7477	61	8	,	,	PUNCT
ajeer-7477	61	9	and	and	CCONJ
ajeer-7477	61	10	streamlining	streamline	VERB
ajeer-7477	61	11	resource	resource	NOUN
ajeer-7477	61	12	allocation	allocation	NOUN
ajeer-7477	61	13	,	,	PUNCT
ajeer-7477	61	14	this	this	DET
ajeer-7477	61	15	openness	openness	NOUN
ajeer-7477	61	16	helps	help	VERB
ajeer-7477	61	17	improve	improve	VERB
ajeer-7477	61	18	economic	economic	ADJ
ajeer-7477	61	19	performance	performance	NOUN
ajeer-7477	61	20	(	(	PUNCT
ajeer-7477	61	21	klein	klein	PROPN
ajeer-7477	61	22	&	&	CCONJ
ajeer-7477	61	23	olivei	olivei	PROPN
ajeer-7477	61	24	,	,	PUNCT
ajeer-7477	61	25	2008	2008	NUM
ajeer-7477	61	26	)	)	PUNCT
ajeer-7477	61	27	.	.	PUNCT
ajeer-7477	62	1	it	it	PRON
ajeer-7477	62	2	also	also	ADV
ajeer-7477	62	3	provides	provide	VERB
ajeer-7477	62	4	access	access	NOUN
ajeer-7477	62	5	to	to	ADP
ajeer-7477	62	6	global	global	ADJ
ajeer-7477	62	7	savings	saving	NOUN
ajeer-7477	62	8	,	,	PUNCT
ajeer-7477	62	9	enables	enable	VERB
ajeer-7477	62	10	investment	investment	NOUN
ajeer-7477	62	11	diversification	diversification	NOUN
ajeer-7477	62	12	,	,	PUNCT
ajeer-7477	62	13	and	and	CCONJ
ajeer-7477	62	14	helps	help	VERB
ajeer-7477	62	15	mitigate	mitigate	VERB
ajeer-7477	62	16	risks	risk	NOUN
ajeer-7477	62	17	,	,	PUNCT
ajeer-7477	62	18	thereby	thereby	ADV
ajeer-7477	62	19	strengthening	strengthen	VERB
ajeer-7477	62	20	economic	economic	ADJ
ajeer-7477	62	21	resilience	resilience	NOUN
ajeer-7477	62	22	(	(	PUNCT
ajeer-7477	62	23	henry	henry	PROPN
ajeer-7477	62	24	,	,	PUNCT
ajeer-7477	62	25	2007	2007	NUM
ajeer-7477	62	26	)	)	PUNCT
ajeer-7477	62	27	.	.	PUNCT
ajeer-7477	63	1	in	in	ADP
ajeer-7477	63	2	china	china	PROPN
ajeer-7477	63	3	's	's	PART
ajeer-7477	63	4	urban	urban	ADJ
ajeer-7477	63	5	clusters	cluster	NOUN
ajeer-7477	63	6	,	,	PUNCT
ajeer-7477	63	7	for	for	ADP
ajeer-7477	63	8	example	example	NOUN
ajeer-7477	63	9	,	,	PUNCT
ajeer-7477	63	10	financial	financial	ADJ
ajeer-7477	63	11	openness	openness	NOUN
ajeer-7477	63	12	has	have	AUX
ajeer-7477	63	13	been	be	AUX
ajeer-7477	63	14	crucial	crucial	ADJ
ajeer-7477	63	15	for	for	ADP
ajeer-7477	63	16	growth	growth	NOUN
ajeer-7477	63	17	by	by	ADP
ajeer-7477	63	18	linking	link	VERB
ajeer-7477	63	19	these	these	DET
ajeer-7477	63	20	regions	region	NOUN
ajeer-7477	63	21	to	to	ADP
ajeer-7477	63	22	international	international	ADJ
ajeer-7477	63	23	markets	market	NOUN
ajeer-7477	63	24	,	,	PUNCT
ajeer-7477	63	25	drawing	draw	VERB
ajeer-7477	63	26	in	in	ADP
ajeer-7477	63	27	foreign	foreign	ADJ
ajeer-7477	63	28	investments	investment	NOUN
ajeer-7477	63	29	,	,	PUNCT
ajeer-7477	63	30	and	and	CCONJ
ajeer-7477	63	31	spurring	spur	VERB
ajeer-7477	63	32	technological	technological	ADJ
ajeer-7477	63	33	innovation	innovation	NOUN
ajeer-7477	63	34	(	(	PUNCT
ajeer-7477	63	35	bekaert	bekaert	NOUN
ajeer-7477	63	36	,	,	PUNCT
ajeer-7477	63	37	harvey	harvey	NOUN
ajeer-7477	63	38	,	,	PUNCT
ajeer-7477	63	39	&	&	CCONJ
ajeer-7477	63	40	lundblad	lundblad	NOUN
ajeer-7477	63	41	,	,	PUNCT
ajeer-7477	63	42	2011	2011	NUM
ajeer-7477	63	43	)	)	PUNCT
ajeer-7477	63	44	.	.	PUNCT
ajeer-7477	64	1	while	while	SCONJ
ajeer-7477	64	2	it	it	PRON
ajeer-7477	64	3	brings	bring	VERB
ajeer-7477	64	4	notable	notable	ADJ
ajeer-7477	64	5	benefits	benefit	NOUN
ajeer-7477	64	6	,	,	PUNCT
ajeer-7477	64	7	financial	financial	ADJ
ajeer-7477	64	8	openness	openness	NOUN
ajeer-7477	64	9	can	can	AUX
ajeer-7477	64	10	also	also	ADV
ajeer-7477	64	11	increase	increase	VERB
ajeer-7477	64	12	exposure	exposure	NOUN
ajeer-7477	64	13	to	to	ADP
ajeer-7477	64	14	market	market	NOUN
ajeer-7477	64	15	volatility	volatility	NOUN
ajeer-7477	64	16	and	and	CCONJ
ajeer-7477	64	17	crises	crisis	NOUN
ajeer-7477	64	18	(	(	PUNCT
ajeer-7477	64	19	stiglitz	stiglitz	NOUN
ajeer-7477	64	20	,	,	PUNCT
ajeer-7477	64	21	2002	2002	NUM
ajeer-7477	64	22	)	)	PUNCT
ajeer-7477	64	23	.	.	PUNCT
ajeer-7477	65	1	overall	overall	ADJ
ajeer-7477	65	2	,	,	PUNCT
ajeer-7477	65	3	when	when	SCONJ
ajeer-7477	65	4	managed	manage	VERB
ajeer-7477	65	5	properly	properly	ADV
ajeer-7477	65	6	,	,	PUNCT
ajeer-7477	65	7	it	it	PRON
ajeer-7477	65	8	is	be	AUX
ajeer-7477	65	9	seen	see	VERB
ajeer-7477	65	10	as	as	ADP
ajeer-7477	65	11	a	a	DET
ajeer-7477	65	12	significant	significant	ADJ
ajeer-7477	65	13	contributor	contributor	NOUN
ajeer-7477	65	14	to	to	ADP
ajeer-7477	65	15	sustained	sustain	VERB
ajeer-7477	65	16	economic	economic	ADJ
ajeer-7477	65	17	growth	growth	NOUN
ajeer-7477	65	18	(	(	PUNCT
ajeer-7477	65	19	klein	klein	PROPN
ajeer-7477	65	20	,	,	PUNCT
ajeer-7477	65	21	2005	2005	NUM
ajeer-7477	65	22	)	)	PUNCT
ajeer-7477	65	23	.	.	PUNCT
ajeer-7477	66	1	urban	urban	ADJ
ajeer-7477	66	2	agglomerations	agglomeration	NOUN
ajeer-7477	66	3	in	in	ADP
ajeer-7477	66	4	china	china	PROPN
ajeer-7477	66	5	have	have	AUX
ajeer-7477	66	6	become	become	VERB
ajeer-7477	66	7	pivotal	pivotal	ADJ
ajeer-7477	66	8	engines	engine	NOUN
ajeer-7477	66	9	of	of	ADP
ajeer-7477	66	10	economic	economic	ADJ
ajeer-7477	66	11	growth	growth	NOUN
ajeer-7477	66	12	,	,	PUNCT
ajeer-7477	66	13	yet	yet	CCONJ
ajeer-7477	66	14	the	the	DET
ajeer-7477	66	15	intricate	intricate	ADJ
ajeer-7477	66	16	interplay	interplay	NOUN
ajeer-7477	66	17	between	between	ADP
ajeer-7477	66	18	financial	financial	ADJ
ajeer-7477	66	19	development	development	NOUN
ajeer-7477	66	20	and	and	CCONJ
ajeer-7477	66	21	financial	financial	ADJ
ajeer-7477	66	22	openness	openness	NOUN
ajeer-7477	66	23	within	within	ADP
ajeer-7477	66	24	these	these	DET
ajeer-7477	66	25	regions	region	NOUN
ajeer-7477	66	26	remains	remain	VERB
ajeer-7477	66	27	underexplored	underexplored	ADJ
ajeer-7477	66	28	.	.	PUNCT
ajeer-7477	67	1	despite	despite	SCONJ
ajeer-7477	67	2	a	a	DET
ajeer-7477	67	3	growing	grow	VERB
ajeer-7477	67	4	body	body	NOUN
ajeer-7477	67	5	of	of	ADP
ajeer-7477	67	6	literature	literature	NOUN
ajeer-7477	67	7	underscoring	underscore	VERB
ajeer-7477	67	8	the	the	DET
ajeer-7477	67	9	importance	importance	NOUN
ajeer-7477	67	10	of	of	ADP
ajeer-7477	67	11	both	both	CCONJ
ajeer-7477	67	12	domestic	domestic	ADJ
ajeer-7477	67	13	financial	financial	ADJ
ajeer-7477	67	14	sophistication	sophistication	NOUN
ajeer-7477	67	15	and	and	CCONJ
ajeer-7477	67	16	international	international	ADJ
ajeer-7477	67	17	financial	financial	ADJ
ajeer-7477	67	18	integration	integration	NOUN
ajeer-7477	67	19	in	in	ADP
ajeer-7477	67	20	fostering	foster	VERB
ajeer-7477	67	21	economic	economic	ADJ
ajeer-7477	67	22	performance	performance	NOUN
ajeer-7477	67	23	,	,	PUNCT
ajeer-7477	67	24	there	there	PRON
ajeer-7477	67	25	is	be	VERB
ajeer-7477	67	26	a	a	DET
ajeer-7477	67	27	notable	notable	ADJ
ajeer-7477	67	28	gap	gap	NOUN
ajeer-7477	67	29	in	in	ADP
ajeer-7477	67	30	understanding	understanding	NOUN
ajeer-7477	67	31	how	how	SCONJ
ajeer-7477	67	32	these	these	DET
ajeer-7477	67	33	two	two	NUM
ajeer-7477	67	34	forces	force	NOUN
ajeer-7477	67	35	interact	interact	VERB
ajeer-7477	67	36	in	in	ADP
ajeer-7477	67	37	urban	urban	ADJ
ajeer-7477	67	38	contexts	context	NOUN
ajeer-7477	67	39	where	where	SCONJ
ajeer-7477	67	40	rapid	rapid	ADJ
ajeer-7477	67	41	economic	economic	ADJ
ajeer-7477	67	42	transformation	transformation	NOUN
ajeer-7477	67	43	is	be	AUX
ajeer-7477	67	44	underway	underway	ADJ
ajeer-7477	67	45	.	.	PUNCT
ajeer-7477	68	1	this	this	DET
ajeer-7477	68	2	paper	paper	NOUN
ajeer-7477	68	3	addresses	address	VERB
ajeer-7477	68	4	the	the	DET
ajeer-7477	68	5	problem	problem	NOUN
ajeer-7477	68	6	by	by	ADP
ajeer-7477	68	7	investigating	investigate	VERB
ajeer-7477	68	8	how	how	SCONJ
ajeer-7477	68	9	financial	financial	ADJ
ajeer-7477	68	10	development	development	NOUN
ajeer-7477	68	11	characterized	characterize	VERB
ajeer-7477	68	12	by	by	ADP
ajeer-7477	68	13	the	the	DET
ajeer-7477	68	14	evolution	evolution	NOUN
ajeer-7477	68	15	of	of	ADP
ajeer-7477	68	16	financial	financial	ADJ
ajeer-7477	68	17	markets	market	NOUN
ajeer-7477	68	18	,	,	PUNCT
ajeer-7477	68	19	institutions	institution	NOUN
ajeer-7477	68	20	,	,	PUNCT
ajeer-7477	68	21	and	and	CCONJ
ajeer-7477	68	22	instruments	instrument	NOUN
ajeer-7477	68	23	translates	translate	VERB
ajeer-7477	68	24	into	into	ADP
ajeer-7477	68	25	economic	economic	ADJ
ajeer-7477	68	26	growth	growth	NOUN
ajeer-7477	68	27	when	when	SCONJ
ajeer-7477	68	28	coupled	couple	VERB
ajeer-7477	68	29	with	with	ADP
ajeer-7477	68	30	financial	financial	ADJ
ajeer-7477	68	31	openness	openness	NOUN
ajeer-7477	68	32	,	,	PUNCT
ajeer-7477	68	33	which	which	PRON
ajeer-7477	68	34	integrates	integrate	VERB
ajeer-7477	68	35	these	these	DET
ajeer-7477	68	36	domestic	domestic	ADJ
ajeer-7477	68	37	mechanisms	mechanism	NOUN
ajeer-7477	68	38	into	into	ADP
ajeer-7477	68	39	global	global	ADJ
ajeer-7477	68	40	financial	financial	ADJ
ajeer-7477	68	41	networks	network	NOUN
ajeer-7477	68	42	.	.	PUNCT
ajeer-7477	69	1	focusing	focus	VERB
ajeer-7477	69	2	on	on	ADP
ajeer-7477	69	3	three	three	NUM
ajeer-7477	69	4	major	major	ADJ
ajeer-7477	69	5	urban	urban	ADJ
ajeer-7477	69	6	agglomerations	agglomeration	NOUN
ajeer-7477	69	7	in	in	ADP
ajeer-7477	69	8	china	china	PROPN
ajeer-7477	69	9	,	,	PUNCT
ajeer-7477	69	10	the	the	DET
ajeer-7477	69	11	study	study	NOUN
ajeer-7477	69	12	seeks	seek	VERB
ajeer-7477	69	13	to	to	PART
ajeer-7477	69	14	clarify	clarify	VERB
ajeer-7477	69	15	whether	whether	SCONJ
ajeer-7477	69	16	and	and	CCONJ
ajeer-7477	69	17	how	how	SCONJ
ajeer-7477	69	18	financial	financial	ADJ
ajeer-7477	69	19	openness	openness	NOUN
ajeer-7477	69	20	amplifies	amplify	VERB
ajeer-7477	69	21	or	or	CCONJ
ajeer-7477	69	22	moderates	moderate	VERB
ajeer-7477	69	23	the	the	DET
ajeer-7477	69	24	impact	impact	NOUN
ajeer-7477	69	25	of	of	ADP
ajeer-7477	69	26	financial	financial	ADJ
ajeer-7477	69	27	development	development	NOUN
ajeer-7477	69	28	on	on	ADP
ajeer-7477	69	29	economic	economic	ADJ
ajeer-7477	69	30	growth	growth	NOUN
ajeer-7477	69	31	.	.	PUNCT
ajeer-7477	70	1	this	this	DET
ajeer-7477	70	2	research	research	NOUN
ajeer-7477	70	3	is	be	AUX
ajeer-7477	70	4	crucial	crucial	ADJ
ajeer-7477	70	5	not	not	PART
ajeer-7477	70	6	only	only	ADV
ajeer-7477	70	7	for	for	ADP
ajeer-7477	70	8	advancing	advance	VERB
ajeer-7477	70	9	academic	academic	ADJ
ajeer-7477	70	10	discourse	discourse	NOUN
ajeer-7477	70	11	but	but	CCONJ
ajeer-7477	70	12	also	also	ADV
ajeer-7477	70	13	for	for	ADP
ajeer-7477	70	14	informing	inform	VERB
ajeer-7477	70	15	policy	policy	NOUN
ajeer-7477	70	16	decisions	decision	NOUN
ajeer-7477	70	17	aimed	aim	VERB
ajeer-7477	70	18	at	at	ADP
ajeer-7477	70	19	enhancing	enhance	VERB
ajeer-7477	70	20	economic	economic	ADJ
ajeer-7477	70	21	resilience	resilience	NOUN
ajeer-7477	70	22	and	and	CCONJ
ajeer-7477	70	23	sustainable	sustainable	ADJ
ajeer-7477	70	24	development	development	NOUN
ajeer-7477	70	25	in	in	ADP
ajeer-7477	70	26	urban	urban	ADJ
ajeer-7477	70	27	settings	setting	NOUN
ajeer-7477	70	28	facing	face	VERB
ajeer-7477	70	29	both	both	CCONJ
ajeer-7477	70	30	domestic	domestic	ADJ
ajeer-7477	70	31	and	and	CCONJ
ajeer-7477	70	32	global	global	ADJ
ajeer-7477	70	33	financial	financial	ADJ
ajeer-7477	70	34	challenges	challenge	NOUN
ajeer-7477	70	35	.	.	PUNCT
ajeer-7477	71	1	asian	asian	ADJ
ajeer-7477	71	2	journal	journal	PROPN
ajeer-7477	71	3	of	of	ADP
ajeer-7477	71	4	economics	economic	NOUN
ajeer-7477	71	5	and	and	CCONJ
ajeer-7477	71	6	empirical	empirical	ADJ
ajeer-7477	71	7	research	research	NOUN
ajeer-7477	71	8	,	,	PUNCT
ajeer-7477	71	9	2025	2025	NUM
ajeer-7477	71	10	,	,	PUNCT
ajeer-7477	71	11	12(2	12(2	NUM
ajeer-7477	71	12	):	):	PUNCT
ajeer-7477	71	13	104	104	NUM
ajeer-7477	71	14	-	-	SYM
ajeer-7477	71	15	112	112	NUM
ajeer-7477	71	16	106	106	NUM
ajeer-7477	71	17	©	©	ADP
ajeer-7477	71	18	2025	2025	NUM
ajeer-7477	71	19	by	by	ADP
ajeer-7477	71	20	the	the	DET
ajeer-7477	71	21	authors	author	NOUN
ajeer-7477	71	22	;	;	PUNCT
ajeer-7477	71	23	licensee	licensee	PROPN
ajeer-7477	71	24	asian	asian	ADJ
ajeer-7477	71	25	online	online	PROPN
ajeer-7477	71	26	journal	journal	PROPN
ajeer-7477	71	27	publishing	publishing	NOUN
ajeer-7477	71	28	group	group	NOUN
ajeer-7477	71	29	the	the	DET
ajeer-7477	71	30	significance	significance	NOUN
ajeer-7477	71	31	of	of	ADP
ajeer-7477	71	32	this	this	DET
ajeer-7477	71	33	study	study	NOUN
ajeer-7477	71	34	lies	lie	VERB
ajeer-7477	71	35	in	in	ADP
ajeer-7477	71	36	its	its	PRON
ajeer-7477	71	37	potential	potential	NOUN
ajeer-7477	71	38	to	to	PART
ajeer-7477	71	39	bridge	bridge	VERB
ajeer-7477	71	40	a	a	DET
ajeer-7477	71	41	critical	critical	ADJ
ajeer-7477	71	42	gap	gap	NOUN
ajeer-7477	71	43	in	in	ADP
ajeer-7477	71	44	existing	exist	VERB
ajeer-7477	71	45	research	research	NOUN
ajeer-7477	71	46	by	by	ADP
ajeer-7477	71	47	integrating	integrate	VERB
ajeer-7477	71	48	two	two	NUM
ajeer-7477	71	49	well	well	ADV
ajeer-7477	71	50	-	-	PUNCT
ajeer-7477	71	51	documented	document	VERB
ajeer-7477	71	52	yet	yet	ADV
ajeer-7477	71	53	often	often	ADV
ajeer-7477	71	54	separately	separately	ADV
ajeer-7477	71	55	examined	examine	VERB
ajeer-7477	71	56	dimensions	dimension	NOUN
ajeer-7477	71	57	financial	financial	ADJ
ajeer-7477	71	58	development	development	NOUN
ajeer-7477	71	59	and	and	CCONJ
ajeer-7477	71	60	financial	financial	ADJ
ajeer-7477	71	61	openness	openness	NOUN
ajeer-7477	71	62	—	—	PUNCT
ajeer-7477	71	63	within	within	ADP
ajeer-7477	71	64	the	the	DET
ajeer-7477	71	65	unique	unique	ADJ
ajeer-7477	71	66	context	context	NOUN
ajeer-7477	71	67	of	of	ADP
ajeer-7477	71	68	china	china	PROPN
ajeer-7477	71	69	's	's	PART
ajeer-7477	71	70	urban	urban	ADJ
ajeer-7477	71	71	agglomerations	agglomeration	NOUN
ajeer-7477	71	72	.	.	PUNCT
ajeer-7477	72	1	previous	previous	ADJ
ajeer-7477	72	2	studies	study	NOUN
ajeer-7477	72	3	have	have	AUX
ajeer-7477	72	4	robustly	robustly	ADV
ajeer-7477	72	5	documented	document	VERB
ajeer-7477	72	6	the	the	DET
ajeer-7477	72	7	role	role	NOUN
ajeer-7477	72	8	of	of	ADP
ajeer-7477	72	9	financial	financial	ADJ
ajeer-7477	72	10	development	development	NOUN
ajeer-7477	72	11	in	in	ADP
ajeer-7477	72	12	promoting	promote	VERB
ajeer-7477	72	13	economic	economic	ADJ
ajeer-7477	72	14	growth	growth	NOUN
ajeer-7477	72	15	by	by	ADP
ajeer-7477	72	16	enhancing	enhance	VERB
ajeer-7477	72	17	the	the	DET
ajeer-7477	72	18	mobilization	mobilization	NOUN
ajeer-7477	72	19	of	of	ADP
ajeer-7477	72	20	savings	saving	NOUN
ajeer-7477	72	21	,	,	PUNCT
ajeer-7477	72	22	improving	improve	VERB
ajeer-7477	72	23	resource	resource	NOUN
ajeer-7477	72	24	allocation	allocation	NOUN
ajeer-7477	72	25	,	,	PUNCT
ajeer-7477	72	26	and	and	CCONJ
ajeer-7477	72	27	supporting	support	VERB
ajeer-7477	72	28	innovation	innovation	NOUN
ajeer-7477	72	29	(	(	PUNCT
ajeer-7477	72	30	king	king	PROPN
ajeer-7477	72	31	&	&	CCONJ
ajeer-7477	72	32	levine	levine	PROPN
ajeer-7477	72	33	,	,	PUNCT
ajeer-7477	72	34	1993	1993	NUM
ajeer-7477	72	35	;	;	PUNCT
ajeer-7477	72	36	levine	levine	PROPN
ajeer-7477	72	37	,	,	PUNCT
ajeer-7477	72	38	2005	2005	NUM
ajeer-7477	72	39	)	)	PUNCT
ajeer-7477	72	40	.	.	PUNCT
ajeer-7477	73	1	similarly	similarly	ADV
ajeer-7477	73	2	,	,	PUNCT
ajeer-7477	73	3	research	research	NOUN
ajeer-7477	73	4	on	on	ADP
ajeer-7477	73	5	financial	financial	ADJ
ajeer-7477	73	6	openness	openness	NOUN
ajeer-7477	73	7	has	have	AUX
ajeer-7477	73	8	demonstrated	demonstrate	VERB
ajeer-7477	73	9	its	its	PRON
ajeer-7477	73	10	ability	ability	NOUN
ajeer-7477	73	11	to	to	PART
ajeer-7477	73	12	attract	attract	VERB
ajeer-7477	73	13	foreign	foreign	ADJ
ajeer-7477	73	14	capital	capital	NOUN
ajeer-7477	73	15	,	,	PUNCT
ajeer-7477	73	16	increase	increase	VERB
ajeer-7477	73	17	competition	competition	NOUN
ajeer-7477	73	18	,	,	PUNCT
ajeer-7477	73	19	diversify	diversify	ADJ
ajeer-7477	73	20	investments	investment	NOUN
ajeer-7477	73	21	,	,	PUNCT
ajeer-7477	73	22	and	and	CCONJ
ajeer-7477	73	23	bolster	bolster	VERB
ajeer-7477	73	24	economic	economic	ADJ
ajeer-7477	73	25	resilience	resilience	NOUN
ajeer-7477	73	26	(	(	PUNCT
ajeer-7477	73	27	henry	henry	PROPN
ajeer-7477	73	28	,	,	PUNCT
ajeer-7477	73	29	2007	2007	NUM
ajeer-7477	73	30	;	;	PUNCT
ajeer-7477	73	31	klein	klein	PROPN
ajeer-7477	73	32	&	&	CCONJ
ajeer-7477	73	33	olivei	olivei	PROPN
ajeer-7477	73	34	,	,	PUNCT
ajeer-7477	73	35	2008	2008	NUM
ajeer-7477	73	36	)	)	PUNCT
ajeer-7477	73	37	.	.	PUNCT
ajeer-7477	74	1	however	however	ADV
ajeer-7477	74	2	,	,	PUNCT
ajeer-7477	74	3	while	while	SCONJ
ajeer-7477	74	4	the	the	DET
ajeer-7477	74	5	individual	individual	ADJ
ajeer-7477	74	6	impacts	impact	NOUN
ajeer-7477	74	7	of	of	ADP
ajeer-7477	74	8	these	these	DET
ajeer-7477	74	9	factors	factor	NOUN
ajeer-7477	74	10	are	be	AUX
ajeer-7477	74	11	well	well	ADV
ajeer-7477	74	12	-	-	PUNCT
ajeer-7477	74	13	established	establish	VERB
ajeer-7477	74	14	,	,	PUNCT
ajeer-7477	74	15	there	there	PRON
ajeer-7477	74	16	remains	remain	VERB
ajeer-7477	74	17	a	a	DET
ajeer-7477	74	18	noticeable	noticeable	ADJ
ajeer-7477	74	19	gap	gap	NOUN
ajeer-7477	74	20	in	in	ADP
ajeer-7477	74	21	understanding	understanding	NOUN
ajeer-7477	74	22	how	how	SCONJ
ajeer-7477	74	23	financial	financial	ADJ
ajeer-7477	74	24	development	development	NOUN
ajeer-7477	74	25	and	and	CCONJ
ajeer-7477	74	26	financial	financial	ADJ
ajeer-7477	74	27	openness	openness	NOUN
ajeer-7477	74	28	interact	interact	VERB
ajeer-7477	74	29	,	,	PUNCT
ajeer-7477	74	30	particularly	particularly	ADV
ajeer-7477	74	31	at	at	ADP
ajeer-7477	74	32	the	the	DET
ajeer-7477	74	33	urban	urban	ADJ
ajeer-7477	74	34	level	level	NOUN
ajeer-7477	74	35	,	,	PUNCT
ajeer-7477	74	36	to	to	PART
ajeer-7477	74	37	affect	affect	VERB
ajeer-7477	74	38	their	their	PRON
ajeer-7477	74	39	economic	economic	ADJ
ajeer-7477	74	40	performance	performance	NOUN
ajeer-7477	74	41	.	.	PUNCT
ajeer-7477	75	1	urban	urban	ADJ
ajeer-7477	75	2	agglomerations	agglomeration	NOUN
ajeer-7477	75	3	in	in	ADP
ajeer-7477	75	4	china	china	PROPN
ajeer-7477	75	5	are	be	AUX
ajeer-7477	75	6	dynamic	dynamic	ADJ
ajeer-7477	75	7	economic	economic	ADJ
ajeer-7477	75	8	engines	engine	NOUN
ajeer-7477	75	9	;	;	PUNCT
ajeer-7477	75	10	yet	yet	CCONJ
ajeer-7477	75	11	,	,	PUNCT
ajeer-7477	75	12	few	few	ADJ
ajeer-7477	75	13	studies	study	NOUN
ajeer-7477	75	14	have	have	AUX
ajeer-7477	75	15	specifically	specifically	ADV
ajeer-7477	75	16	examined	examine	VERB
ajeer-7477	75	17	how	how	SCONJ
ajeer-7477	75	18	their	their	PRON
ajeer-7477	75	19	financial	financial	ADJ
ajeer-7477	75	20	systems	system	NOUN
ajeer-7477	75	21	,	,	PUNCT
ajeer-7477	75	22	when	when	SCONJ
ajeer-7477	75	23	integrated	integrate	VERB
ajeer-7477	75	24	with	with	ADP
ajeer-7477	75	25	global	global	ADJ
ajeer-7477	75	26	markets	market	NOUN
ajeer-7477	75	27	,	,	PUNCT
ajeer-7477	75	28	affect	affect	VERB
ajeer-7477	75	29	local	local	ADJ
ajeer-7477	75	30	economic	economic	ADJ
ajeer-7477	75	31	growth	growth	NOUN
ajeer-7477	75	32	.	.	PUNCT
ajeer-7477	76	1	by	by	ADP
ajeer-7477	76	2	focusing	focus	VERB
ajeer-7477	76	3	on	on	ADP
ajeer-7477	76	4	three	three	NUM
ajeer-7477	76	5	key	key	ADJ
ajeer-7477	76	6	urban	urban	ADJ
ajeer-7477	76	7	regions	region	NOUN
ajeer-7477	76	8	,	,	PUNCT
ajeer-7477	76	9	our	our	PRON
ajeer-7477	76	10	research	research	NOUN
ajeer-7477	76	11	aims	aim	VERB
ajeer-7477	76	12	to	to	PART
ajeer-7477	76	13	provide	provide	VERB
ajeer-7477	76	14	a	a	DET
ajeer-7477	76	15	nuanced	nuanced	ADJ
ajeer-7477	76	16	analysis	analysis	NOUN
ajeer-7477	76	17	of	of	ADP
ajeer-7477	76	18	this	this	DET
ajeer-7477	76	19	interplay	interplay	NOUN
ajeer-7477	76	20	.	.	PUNCT
ajeer-7477	77	1	this	this	PRON
ajeer-7477	77	2	will	will	AUX
ajeer-7477	77	3	not	not	PART
ajeer-7477	77	4	only	only	ADV
ajeer-7477	77	5	enrich	enrich	VERB
ajeer-7477	77	6	the	the	DET
ajeer-7477	77	7	academic	academic	ADJ
ajeer-7477	77	8	literature	literature	NOUN
ajeer-7477	77	9	by	by	ADP
ajeer-7477	77	10	addressing	address	VERB
ajeer-7477	77	11	the	the	DET
ajeer-7477	77	12	conditional	conditional	ADJ
ajeer-7477	77	13	effects	effect	NOUN
ajeer-7477	77	14	of	of	ADP
ajeer-7477	77	15	financial	financial	ADJ
ajeer-7477	77	16	openness	openness	NOUN
ajeer-7477	77	17	on	on	ADP
ajeer-7477	77	18	the	the	DET
ajeer-7477	77	19	benefits	benefit	NOUN
ajeer-7477	77	20	of	of	ADP
ajeer-7477	77	21	domestic	domestic	ADJ
ajeer-7477	77	22	financial	financial	ADJ
ajeer-7477	77	23	development	development	NOUN
ajeer-7477	77	24	but	but	CCONJ
ajeer-7477	77	25	also	also	ADV
ajeer-7477	77	26	offer	offer	VERB
ajeer-7477	77	27	valuable	valuable	ADJ
ajeer-7477	77	28	insights	insight	NOUN
ajeer-7477	77	29	for	for	ADP
ajeer-7477	77	30	policymakers	policymaker	NOUN
ajeer-7477	77	31	seeking	seek	VERB
ajeer-7477	77	32	to	to	PART
ajeer-7477	77	33	harness	harness	NOUN
ajeer-7477	77	34	these	these	DET
ajeer-7477	77	35	synergies	synergy	NOUN
ajeer-7477	77	36	to	to	PART
ajeer-7477	77	37	drive	drive	VERB
ajeer-7477	77	38	sustainable	sustainable	ADJ
ajeer-7477	77	39	urban	urban	ADJ
ajeer-7477	77	40	growth	growth	NOUN
ajeer-7477	77	41	.	.	PUNCT
ajeer-7477	78	1	this	this	DET
ajeer-7477	78	2	study	study	NOUN
ajeer-7477	78	3	advances	advance	VERB
ajeer-7477	78	4	the	the	DET
ajeer-7477	78	5	literature	literature	NOUN
ajeer-7477	78	6	by	by	ADP
ajeer-7477	78	7	integrating	integrate	VERB
ajeer-7477	78	8	financial	financial	ADJ
ajeer-7477	78	9	development	development	NOUN
ajeer-7477	78	10	and	and	CCONJ
ajeer-7477	78	11	financial	financial	ADJ
ajeer-7477	78	12	openness	openness	NOUN
ajeer-7477	78	13	within	within	ADP
ajeer-7477	78	14	a	a	DET
ajeer-7477	78	15	unified	unified	ADJ
ajeer-7477	78	16	framework	framework	NOUN
ajeer-7477	78	17	that	that	PRON
ajeer-7477	78	18	explicitly	explicitly	ADV
ajeer-7477	78	19	considers	consider	VERB
ajeer-7477	78	20	their	their	PRON
ajeer-7477	78	21	nonlinear	nonlinear	ADJ
ajeer-7477	78	22	interplay	interplay	NOUN
ajeer-7477	78	23	.	.	PUNCT
ajeer-7477	79	1	by	by	ADP
ajeer-7477	79	2	employing	employ	VERB
ajeer-7477	79	3	a	a	DET
ajeer-7477	79	4	threshold	threshold	NOUN
ajeer-7477	79	5	regression	regression	NOUN
ajeer-7477	79	6	approach	approach	NOUN
ajeer-7477	79	7	,	,	PUNCT
ajeer-7477	79	8	this	this	DET
ajeer-7477	79	9	research	research	NOUN
ajeer-7477	79	10	refines	refine	VERB
ajeer-7477	79	11	traditional	traditional	ADJ
ajeer-7477	79	12	growth	growth	NOUN
ajeer-7477	79	13	models	model	NOUN
ajeer-7477	79	14	to	to	PART
ajeer-7477	79	15	examine	examine	VERB
ajeer-7477	79	16	how	how	SCONJ
ajeer-7477	79	17	varying	varying	ADJ
ajeer-7477	79	18	degrees	degree	NOUN
ajeer-7477	79	19	of	of	ADP
ajeer-7477	79	20	financial	financial	ADJ
ajeer-7477	79	21	openness	openness	NOUN
ajeer-7477	79	22	may	may	AUX
ajeer-7477	79	23	amplify	amplify	VERB
ajeer-7477	79	24	or	or	CCONJ
ajeer-7477	79	25	moderate	moderate	VERB
ajeer-7477	79	26	the	the	DET
ajeer-7477	79	27	benefits	benefit	NOUN
ajeer-7477	79	28	of	of	ADP
ajeer-7477	79	29	domestic	domestic	ADJ
ajeer-7477	79	30	financial	financial	ADJ
ajeer-7477	79	31	development	development	NOUN
ajeer-7477	79	32	.	.	PUNCT
ajeer-7477	80	1	importantly	importantly	ADV
ajeer-7477	80	2	,	,	PUNCT
ajeer-7477	80	3	this	this	DET
ajeer-7477	80	4	method	method	NOUN
ajeer-7477	80	5	helps	help	VERB
ajeer-7477	80	6	capture	capture	VERB
ajeer-7477	80	7	heterogeneity	heterogeneity	NOUN
ajeer-7477	80	8	across	across	ADP
ajeer-7477	80	9	china	china	PROPN
ajeer-7477	80	10	's	's	PART
ajeer-7477	80	11	urban	urban	ADJ
ajeer-7477	80	12	agglomerations	agglomeration	NOUN
ajeer-7477	80	13	and	and	CCONJ
ajeer-7477	80	14	mitigates	mitigate	VERB
ajeer-7477	80	15	potential	potential	ADJ
ajeer-7477	80	16	endogeneity	endogeneity	NOUN
ajeer-7477	80	17	concerns	concern	NOUN
ajeer-7477	80	18	that	that	PRON
ajeer-7477	80	19	typically	typically	ADV
ajeer-7477	80	20	complicate	complicate	VERB
ajeer-7477	80	21	the	the	DET
ajeer-7477	80	22	analysis	analysis	NOUN
ajeer-7477	80	23	of	of	ADP
ajeer-7477	80	24	financial	financial	ADJ
ajeer-7477	80	25	variables	variable	NOUN
ajeer-7477	80	26	.	.	PUNCT
ajeer-7477	81	1	as	as	ADP
ajeer-7477	81	2	such	such	ADJ
ajeer-7477	81	3	,	,	PUNCT
ajeer-7477	81	4	our	our	PRON
ajeer-7477	81	5	theoretical	theoretical	ADJ
ajeer-7477	81	6	framework	framework	NOUN
ajeer-7477	81	7	offers	offer	VERB
ajeer-7477	81	8	a	a	DET
ajeer-7477	81	9	more	more	ADV
ajeer-7477	81	10	nuanced	nuanced	ADJ
ajeer-7477	81	11	understanding	understanding	NOUN
ajeer-7477	81	12	of	of	ADP
ajeer-7477	81	13	the	the	DET
ajeer-7477	81	14	conditional	conditional	ADJ
ajeer-7477	81	15	mechanisms	mechanism	NOUN
ajeer-7477	81	16	through	through	ADP
ajeer-7477	81	17	which	which	PRON
ajeer-7477	81	18	global	global	ADJ
ajeer-7477	81	19	financial	financial	ADJ
ajeer-7477	81	20	integration	integration	NOUN
ajeer-7477	81	21	influences	influence	VERB
ajeer-7477	81	22	local	local	ADJ
ajeer-7477	81	23	economic	economic	ADJ
ajeer-7477	81	24	performance	performance	NOUN
ajeer-7477	81	25	.	.	PUNCT
ajeer-7477	82	1	empirically	empirically	ADV
ajeer-7477	82	2	,	,	PUNCT
ajeer-7477	82	3	the	the	DET
ajeer-7477	82	4	study	study	NOUN
ajeer-7477	82	5	makes	make	VERB
ajeer-7477	82	6	a	a	DET
ajeer-7477	82	7	significant	significant	ADJ
ajeer-7477	82	8	contribution	contribution	NOUN
ajeer-7477	82	9	by	by	ADP
ajeer-7477	82	10	applying	apply	VERB
ajeer-7477	82	11	a	a	DET
ajeer-7477	82	12	robust	robust	ADJ
ajeer-7477	82	13	panel	panel	NOUN
ajeer-7477	82	14	threshold	threshold	NOUN
ajeer-7477	82	15	regression	regression	NOUN
ajeer-7477	82	16	method	method	NOUN
ajeer-7477	82	17	to	to	ADP
ajeer-7477	82	18	data	datum	NOUN
ajeer-7477	82	19	from	from	ADP
ajeer-7477	82	20	three	three	NUM
ajeer-7477	82	21	major	major	ADJ
ajeer-7477	82	22	urban	urban	ADJ
ajeer-7477	82	23	agglomerations	agglomeration	NOUN
ajeer-7477	82	24	in	in	ADP
ajeer-7477	82	25	china	china	PROPN
ajeer-7477	82	26	,	,	PUNCT
ajeer-7477	82	27	considering	consider	VERB
ajeer-7477	82	28	financial	financial	ADJ
ajeer-7477	82	29	openness	openness	NOUN
ajeer-7477	82	30	as	as	ADP
ajeer-7477	82	31	a	a	DET
ajeer-7477	82	32	moderating	moderate	VERB
ajeer-7477	82	33	variable	variable	NOUN
ajeer-7477	82	34	.	.	PUNCT
ajeer-7477	83	1	this	this	DET
ajeer-7477	83	2	technique	technique	NOUN
ajeer-7477	83	3	enables	enable	VERB
ajeer-7477	83	4	us	we	PRON
ajeer-7477	83	5	to	to	PART
ajeer-7477	83	6	identify	identify	VERB
ajeer-7477	83	7	distinct	distinct	ADJ
ajeer-7477	83	8	regimes	regime	NOUN
ajeer-7477	83	9	in	in	ADP
ajeer-7477	83	10	the	the	DET
ajeer-7477	83	11	relationship	relationship	NOUN
ajeer-7477	83	12	between	between	ADP
ajeer-7477	83	13	financial	financial	ADJ
ajeer-7477	83	14	development	development	NOUN
ajeer-7477	83	15	,	,	PUNCT
ajeer-7477	83	16	financial	financial	ADJ
ajeer-7477	83	17	openness	openness	NOUN
ajeer-7477	83	18	,	,	PUNCT
ajeer-7477	83	19	and	and	CCONJ
ajeer-7477	83	20	economic	economic	ADJ
ajeer-7477	83	21	growth	growth	NOUN
ajeer-7477	83	22	,	,	PUNCT
ajeer-7477	83	23	revealing	reveal	VERB
ajeer-7477	83	24	nonlinear	nonlinear	ADJ
ajeer-7477	83	25	effects	effect	NOUN
ajeer-7477	83	26	that	that	PRON
ajeer-7477	83	27	traditional	traditional	ADJ
ajeer-7477	83	28	linear	linear	NOUN
ajeer-7477	83	29	models	model	NOUN
ajeer-7477	83	30	might	might	AUX
ajeer-7477	83	31	overlook	overlook	VERB
ajeer-7477	83	32	.	.	PUNCT
ajeer-7477	84	1	the	the	DET
ajeer-7477	84	2	threshold	threshold	NOUN
ajeer-7477	84	3	regression	regression	NOUN
ajeer-7477	84	4	approach	approach	NOUN
ajeer-7477	84	5	can	can	AUX
ajeer-7477	84	6	address	address	VERB
ajeer-7477	84	7	heterogeneity	heterogeneity	NOUN
ajeer-7477	84	8	across	across	ADP
ajeer-7477	84	9	regions	region	NOUN
ajeer-7477	84	10	,	,	PUNCT
ajeer-7477	84	11	ensuring	ensure	VERB
ajeer-7477	84	12	that	that	SCONJ
ajeer-7477	84	13	the	the	DET
ajeer-7477	84	14	estimates	estimate	NOUN
ajeer-7477	84	15	are	be	AUX
ajeer-7477	84	16	both	both	CCONJ
ajeer-7477	84	17	reliable	reliable	ADJ
ajeer-7477	84	18	and	and	CCONJ
ajeer-7477	84	19	insightful	insightful	ADJ
ajeer-7477	84	20	.	.	PUNCT
ajeer-7477	85	1	consequently	consequently	ADV
ajeer-7477	85	2	,	,	PUNCT
ajeer-7477	85	3	the	the	DET
ajeer-7477	85	4	findings	finding	NOUN
ajeer-7477	85	5	provide	provide	VERB
ajeer-7477	85	6	clear	clear	ADJ
ajeer-7477	85	7	empirical	empirical	ADJ
ajeer-7477	85	8	evidence	evidence	NOUN
ajeer-7477	85	9	on	on	ADP
ajeer-7477	85	10	the	the	DET
ajeer-7477	85	11	conditional	conditional	ADJ
ajeer-7477	85	12	impact	impact	NOUN
ajeer-7477	85	13	of	of	ADP
ajeer-7477	85	14	financial	financial	ADJ
ajeer-7477	85	15	openness	openness	NOUN
ajeer-7477	85	16	,	,	PUNCT
ajeer-7477	85	17	offering	offer	VERB
ajeer-7477	85	18	policymakers	policymaker	NOUN
ajeer-7477	85	19	tailored	tailor	VERB
ajeer-7477	85	20	insights	insight	NOUN
ajeer-7477	85	21	to	to	PART
ajeer-7477	85	22	harness	harness	VERB
ajeer-7477	85	23	the	the	DET
ajeer-7477	85	24	synergistic	synergistic	ADJ
ajeer-7477	85	25	benefits	benefit	NOUN
ajeer-7477	85	26	of	of	ADP
ajeer-7477	85	27	domestic	domestic	ADJ
ajeer-7477	85	28	and	and	CCONJ
ajeer-7477	85	29	international	international	ADJ
ajeer-7477	85	30	financial	financial	ADJ
ajeer-7477	85	31	integration	integration	NOUN
ajeer-7477	85	32	for	for	ADP
ajeer-7477	85	33	sustainable	sustainable	ADJ
ajeer-7477	85	34	urban	urban	ADJ
ajeer-7477	85	35	growth	growth	NOUN
ajeer-7477	85	36	.	.	PUNCT
ajeer-7477	86	1	2	2	X
ajeer-7477	86	2	.	.	X
ajeer-7477	86	3	literature	literature	NOUN
ajeer-7477	86	4	review	review	VERB
ajeer-7477	86	5	2.1	2.1	NUM
ajeer-7477	86	6	.	.	PUNCT
ajeer-7477	87	1	theoretical	theoretical	ADJ
ajeer-7477	87	2	review	review	NOUN
ajeer-7477	87	3	economic	economic	ADJ
ajeer-7477	87	4	theories	theory	NOUN
ajeer-7477	87	5	have	have	AUX
ajeer-7477	87	6	long	long	ADV
ajeer-7477	87	7	recognized	recognize	VERB
ajeer-7477	87	8	the	the	DET
ajeer-7477	87	9	pivotal	pivotal	ADJ
ajeer-7477	87	10	role	role	NOUN
ajeer-7477	87	11	of	of	ADP
ajeer-7477	87	12	financial	financial	ADJ
ajeer-7477	87	13	development	development	NOUN
ajeer-7477	87	14	in	in	ADP
ajeer-7477	87	15	driving	drive	VERB
ajeer-7477	87	16	economic	economic	ADJ
ajeer-7477	87	17	growth	growth	NOUN
ajeer-7477	87	18	.	.	PUNCT
ajeer-7477	88	1	seminal	seminal	ADJ
ajeer-7477	88	2	works	work	NOUN
ajeer-7477	88	3	by	by	ADP
ajeer-7477	88	4	king	king	NOUN
ajeer-7477	88	5	and	and	CCONJ
ajeer-7477	88	6	levine	levine	PROPN
ajeer-7477	88	7	(	(	PUNCT
ajeer-7477	88	8	1993	1993	NUM
ajeer-7477	88	9	)	)	PUNCT
ajeer-7477	88	10	and	and	CCONJ
ajeer-7477	88	11	levine	levine	PROPN
ajeer-7477	88	12	(	(	PUNCT
ajeer-7477	88	13	2005	2005	NUM
ajeer-7477	88	14	)	)	PUNCT
ajeer-7477	88	15	emphasize	emphasize	VERB
ajeer-7477	88	16	that	that	DET
ajeer-7477	88	17	robust	robust	ADJ
ajeer-7477	88	18	financial	financial	ADJ
ajeer-7477	88	19	institutions	institution	NOUN
ajeer-7477	88	20	and	and	CCONJ
ajeer-7477	88	21	markets	market	NOUN
ajeer-7477	88	22	are	be	AUX
ajeer-7477	88	23	fundamental	fundamental	ADJ
ajeer-7477	88	24	for	for	ADP
ajeer-7477	88	25	mobilizing	mobilize	VERB
ajeer-7477	88	26	savings	saving	NOUN
ajeer-7477	88	27	,	,	PUNCT
ajeer-7477	88	28	channeling	channel	VERB
ajeer-7477	88	29	investments	investment	NOUN
ajeer-7477	88	30	,	,	PUNCT
ajeer-7477	88	31	and	and	CCONJ
ajeer-7477	88	32	improving	improve	VERB
ajeer-7477	88	33	resource	resource	NOUN
ajeer-7477	88	34	allocation	allocation	NOUN
ajeer-7477	88	35	,	,	PUNCT
ajeer-7477	88	36	thereby	thereby	ADV
ajeer-7477	88	37	fostering	foster	VERB
ajeer-7477	88	38	capital	capital	NOUN
ajeer-7477	88	39	accumulation	accumulation	NOUN
ajeer-7477	88	40	and	and	CCONJ
ajeer-7477	88	41	innovation	innovation	NOUN
ajeer-7477	88	42	.	.	PUNCT
ajeer-7477	89	1	these	these	DET
ajeer-7477	89	2	perspectives	perspective	NOUN
ajeer-7477	89	3	are	be	AUX
ajeer-7477	89	4	integral	integral	ADJ
ajeer-7477	89	5	to	to	ADP
ajeer-7477	89	6	both	both	CCONJ
ajeer-7477	89	7	classical	classical	ADJ
ajeer-7477	89	8	finance	finance	NOUN
ajeer-7477	89	9	-	-	PUNCT
ajeer-7477	89	10	growth	growth	NOUN
ajeer-7477	89	11	models	model	NOUN
ajeer-7477	89	12	and	and	CCONJ
ajeer-7477	89	13	modern	modern	ADJ
ajeer-7477	89	14	endogenous	endogenous	ADJ
ajeer-7477	89	15	growth	growth	NOUN
ajeer-7477	89	16	theories	theory	NOUN
ajeer-7477	89	17	,	,	PUNCT
ajeer-7477	89	18	which	which	PRON
ajeer-7477	89	19	collectively	collectively	ADV
ajeer-7477	89	20	argue	argue	VERB
ajeer-7477	89	21	that	that	SCONJ
ajeer-7477	89	22	a	a	DET
ajeer-7477	89	23	well	well	ADV
ajeer-7477	89	24	-	-	PUNCT
ajeer-7477	89	25	functioning	function	VERB
ajeer-7477	89	26	financial	financial	ADJ
ajeer-7477	89	27	system	system	NOUN
ajeer-7477	89	28	is	be	AUX
ajeer-7477	89	29	essential	essential	ADJ
ajeer-7477	89	30	for	for	ADP
ajeer-7477	89	31	sustainable	sustainable	ADJ
ajeer-7477	89	32	economic	economic	ADJ
ajeer-7477	89	33	progress	progress	NOUN
ajeer-7477	89	34	.	.	PUNCT
ajeer-7477	90	1	complementing	complement	VERB
ajeer-7477	90	2	this	this	DET
ajeer-7477	90	3	view	view	NOUN
ajeer-7477	90	4	,	,	PUNCT
ajeer-7477	90	5	theories	theory	NOUN
ajeer-7477	90	6	on	on	ADP
ajeer-7477	90	7	financial	financial	ADJ
ajeer-7477	90	8	openness	openness	NOUN
ajeer-7477	90	9	highlight	highlight	VERB
ajeer-7477	90	10	the	the	DET
ajeer-7477	90	11	advantages	advantage	NOUN
ajeer-7477	90	12	of	of	ADP
ajeer-7477	90	13	integrating	integrate	VERB
ajeer-7477	90	14	domestic	domestic	ADJ
ajeer-7477	90	15	financial	financial	ADJ
ajeer-7477	90	16	systems	system	NOUN
ajeer-7477	90	17	with	with	ADP
ajeer-7477	90	18	global	global	ADJ
ajeer-7477	90	19	markets	market	NOUN
ajeer-7477	90	20	.	.	PUNCT
ajeer-7477	91	1	for	for	ADP
ajeer-7477	91	2	instance	instance	NOUN
ajeer-7477	91	3	,	,	PUNCT
ajeer-7477	91	4	klein	klein	PROPN
ajeer-7477	91	5	and	and	CCONJ
ajeer-7477	91	6	olivei	olivei	PROPN
ajeer-7477	91	7	(	(	PUNCT
ajeer-7477	91	8	2008	2008	NUM
ajeer-7477	91	9	)	)	PUNCT
ajeer-7477	91	10	demonstrate	demonstrate	VERB
ajeer-7477	91	11	that	that	SCONJ
ajeer-7477	91	12	financial	financial	ADJ
ajeer-7477	91	13	openness	openness	NOUN
ajeer-7477	91	14	attracts	attract	VERB
ajeer-7477	91	15	foreign	foreign	ADJ
ajeer-7477	91	16	capital	capital	NOUN
ajeer-7477	91	17	and	and	CCONJ
ajeer-7477	91	18	intensifies	intensifie	NOUN
ajeer-7477	91	19	competition	competition	NOUN
ajeer-7477	91	20	,	,	PUNCT
ajeer-7477	91	21	while	while	SCONJ
ajeer-7477	91	22	henry	henry	PROPN
ajeer-7477	91	23	(	(	PUNCT
ajeer-7477	91	24	2007	2007	NUM
ajeer-7477	91	25	)	)	PUNCT
ajeer-7477	91	26	shows	show	VERB
ajeer-7477	91	27	that	that	SCONJ
ajeer-7477	91	28	it	it	PRON
ajeer-7477	91	29	facilitates	facilitate	VERB
ajeer-7477	91	30	diversification	diversification	NOUN
ajeer-7477	91	31	of	of	ADP
ajeer-7477	91	32	investment	investment	NOUN
ajeer-7477	91	33	portfolios	portfolio	NOUN
ajeer-7477	91	34	and	and	CCONJ
ajeer-7477	91	35	risk	risk	NOUN
ajeer-7477	91	36	mitigation	mitigation	NOUN
ajeer-7477	91	37	,	,	PUNCT
ajeer-7477	91	38	further	far	ADV
ajeer-7477	91	39	strengthening	strengthen	VERB
ajeer-7477	91	40	domestic	domestic	ADJ
ajeer-7477	91	41	financial	financial	ADJ
ajeer-7477	91	42	structures	structure	NOUN
ajeer-7477	91	43	in	in	ADP
ajeer-7477	91	44	supporting	support	VERB
ajeer-7477	91	45	economic	economic	ADJ
ajeer-7477	91	46	growth	growth	NOUN
ajeer-7477	91	47	.	.	PUNCT
ajeer-7477	92	1	building	build	VERB
ajeer-7477	92	2	on	on	ADP
ajeer-7477	92	3	these	these	DET
ajeer-7477	92	4	complementary	complementary	ADJ
ajeer-7477	92	5	strands	strand	NOUN
ajeer-7477	92	6	of	of	ADP
ajeer-7477	92	7	thought	thought	NOUN
ajeer-7477	92	8	,	,	PUNCT
ajeer-7477	92	9	our	our	PRON
ajeer-7477	92	10	study	study	NOUN
ajeer-7477	92	11	explores	explore	VERB
ajeer-7477	92	12	the	the	DET
ajeer-7477	92	13	interplay	interplay	NOUN
ajeer-7477	92	14	between	between	ADP
ajeer-7477	92	15	financial	financial	ADJ
ajeer-7477	92	16	development	development	NOUN
ajeer-7477	92	17	and	and	CCONJ
ajeer-7477	92	18	financial	financial	ADJ
ajeer-7477	92	19	openness	openness	NOUN
ajeer-7477	92	20	within	within	ADP
ajeer-7477	92	21	china	china	PROPN
ajeer-7477	92	22	's	's	PART
ajeer-7477	92	23	urban	urban	ADJ
ajeer-7477	92	24	agglomerations	agglomeration	NOUN
ajeer-7477	92	25	.	.	PUNCT
ajeer-7477	93	1	recognizing	recognize	VERB
ajeer-7477	93	2	that	that	SCONJ
ajeer-7477	93	3	the	the	DET
ajeer-7477	93	4	impact	impact	NOUN
ajeer-7477	93	5	of	of	ADP
ajeer-7477	93	6	financial	financial	ADJ
ajeer-7477	93	7	development	development	NOUN
ajeer-7477	93	8	may	may	AUX
ajeer-7477	93	9	vary	vary	VERB
ajeer-7477	93	10	with	with	ADP
ajeer-7477	93	11	different	different	ADJ
ajeer-7477	93	12	levels	level	NOUN
ajeer-7477	93	13	of	of	ADP
ajeer-7477	93	14	global	global	ADJ
ajeer-7477	93	15	financial	financial	ADJ
ajeer-7477	93	16	integration	integration	NOUN
ajeer-7477	93	17	,	,	PUNCT
ajeer-7477	93	18	we	we	PRON
ajeer-7477	93	19	employ	employ	VERB
ajeer-7477	93	20	a	a	DET
ajeer-7477	93	21	threshold	threshold	NOUN
ajeer-7477	93	22	regression	regression	NOUN
ajeer-7477	93	23	approach	approach	NOUN
ajeer-7477	93	24	to	to	PART
ajeer-7477	93	25	capture	capture	VERB
ajeer-7477	93	26	potential	potential	ADJ
ajeer-7477	93	27	nonlinearities	nonlinearitie	NOUN
ajeer-7477	93	28	and	and	CCONJ
ajeer-7477	93	29	regional	regional	ADJ
ajeer-7477	93	30	heterogeneity	heterogeneity	NOUN
ajeer-7477	93	31	.	.	PUNCT
ajeer-7477	94	1	this	this	DET
ajeer-7477	94	2	methodology	methodology	NOUN
ajeer-7477	94	3	allows	allow	VERB
ajeer-7477	94	4	us	we	PRON
ajeer-7477	94	5	to	to	PART
ajeer-7477	94	6	identify	identify	VERB
ajeer-7477	94	7	distinct	distinct	ADJ
ajeer-7477	94	8	regimes	regime	NOUN
ajeer-7477	94	9	where	where	SCONJ
ajeer-7477	94	10	the	the	DET
ajeer-7477	94	11	influence	influence	NOUN
ajeer-7477	94	12	of	of	ADP
ajeer-7477	94	13	financial	financial	ADJ
ajeer-7477	94	14	development	development	NOUN
ajeer-7477	94	15	on	on	ADP
ajeer-7477	94	16	economic	economic	ADJ
ajeer-7477	94	17	growth	growth	NOUN
ajeer-7477	94	18	is	be	AUX
ajeer-7477	94	19	either	either	CCONJ
ajeer-7477	94	20	amplified	amplify	VERB
ajeer-7477	94	21	or	or	CCONJ
ajeer-7477	94	22	moderated	moderate	VERB
ajeer-7477	94	23	by	by	ADP
ajeer-7477	94	24	varying	vary	VERB
ajeer-7477	94	25	degrees	degree	NOUN
ajeer-7477	94	26	of	of	ADP
ajeer-7477	94	27	financial	financial	ADJ
ajeer-7477	94	28	openness	openness	NOUN
ajeer-7477	94	29	.	.	PUNCT
ajeer-7477	95	1	by	by	ADP
ajeer-7477	95	2	synthesizing	synthesize	VERB
ajeer-7477	95	3	established	establish	VERB
ajeer-7477	95	4	economic	economic	ADJ
ajeer-7477	95	5	theories	theory	NOUN
ajeer-7477	95	6	with	with	ADP
ajeer-7477	95	7	advanced	advanced	ADJ
ajeer-7477	95	8	empirical	empirical	ADJ
ajeer-7477	95	9	techniques	technique	NOUN
ajeer-7477	95	10	,	,	PUNCT
ajeer-7477	95	11	our	our	PRON
ajeer-7477	95	12	research	research	NOUN
ajeer-7477	95	13	not	not	PART
ajeer-7477	95	14	only	only	ADV
ajeer-7477	95	15	clarifies	clarify	VERB
ajeer-7477	95	16	the	the	DET
ajeer-7477	95	17	individual	individual	ADJ
ajeer-7477	95	18	contributions	contribution	NOUN
ajeer-7477	95	19	of	of	ADP
ajeer-7477	95	20	financial	financial	ADJ
ajeer-7477	95	21	development	development	NOUN
ajeer-7477	95	22	and	and	CCONJ
ajeer-7477	95	23	openness	openness	NOUN
ajeer-7477	95	24	but	but	CCONJ
ajeer-7477	95	25	also	also	ADV
ajeer-7477	95	26	uncovers	uncover	VERB
ajeer-7477	95	27	their	their	PRON
ajeer-7477	95	28	conditional	conditional	ADJ
ajeer-7477	95	29	interplay	interplay	NOUN
ajeer-7477	95	30	,	,	PUNCT
ajeer-7477	95	31	offering	offer	VERB
ajeer-7477	95	32	valuable	valuable	ADJ
ajeer-7477	95	33	insights	insight	NOUN
ajeer-7477	95	34	for	for	ADP
ajeer-7477	95	35	policymakers	policymaker	NOUN
ajeer-7477	95	36	seeking	seek	VERB
ajeer-7477	95	37	to	to	PART
ajeer-7477	95	38	harness	harness	NOUN
ajeer-7477	95	39	these	these	DET
ajeer-7477	95	40	dynamics	dynamic	NOUN
ajeer-7477	95	41	in	in	ADP
ajeer-7477	95	42	rapidly	rapidly	ADV
ajeer-7477	95	43	evolving	evolve	VERB
ajeer-7477	95	44	urban	urban	ADJ
ajeer-7477	95	45	economies	economy	NOUN
ajeer-7477	95	46	.	.	PUNCT
ajeer-7477	96	1	2.2	2.2	NUM
ajeer-7477	96	2	.	.	PUNCT
ajeer-7477	97	1	empirical	empirical	ADJ
ajeer-7477	97	2	review	review	NOUN
ajeer-7477	97	3	the	the	DET
ajeer-7477	97	4	link	link	NOUN
ajeer-7477	97	5	between	between	ADP
ajeer-7477	97	6	financial	financial	ADJ
ajeer-7477	97	7	development	development	NOUN
ajeer-7477	97	8	and	and	CCONJ
ajeer-7477	97	9	economic	economic	ADJ
ajeer-7477	97	10	growth	growth	NOUN
ajeer-7477	97	11	is	be	AUX
ajeer-7477	97	12	a	a	DET
ajeer-7477	97	13	central	central	ADJ
ajeer-7477	97	14	topic	topic	NOUN
ajeer-7477	97	15	in	in	ADP
ajeer-7477	97	16	economics	economic	NOUN
ajeer-7477	97	17	,	,	PUNCT
ajeer-7477	97	18	with	with	ADP
ajeer-7477	97	19	various	various	ADJ
ajeer-7477	97	20	methods	method	NOUN
ajeer-7477	97	21	and	and	CCONJ
ajeer-7477	97	22	interpretations	interpretation	NOUN
ajeer-7477	97	23	highlighting	highlight	VERB
ajeer-7477	97	24	how	how	SCONJ
ajeer-7477	97	25	financial	financial	ADJ
ajeer-7477	97	26	systems	system	NOUN
ajeer-7477	97	27	impact	impact	VERB
ajeer-7477	97	28	economic	economic	ADJ
ajeer-7477	97	29	activity	activity	NOUN
ajeer-7477	97	30	.	.	PUNCT
ajeer-7477	98	1	here	here	ADV
ajeer-7477	98	2	,	,	PUNCT
ajeer-7477	98	3	it	it	PRON
ajeer-7477	98	4	summarizes	summarize	VERB
ajeer-7477	98	5	important	important	ADJ
ajeer-7477	98	6	studies	study	NOUN
ajeer-7477	98	7	that	that	PRON
ajeer-7477	98	8	have	have	AUX
ajeer-7477	98	9	shaped	shape	VERB
ajeer-7477	98	10	our	our	PRON
ajeer-7477	98	11	understanding	understanding	NOUN
ajeer-7477	98	12	of	of	ADP
ajeer-7477	98	13	this	this	DET
ajeer-7477	98	14	connection	connection	NOUN
ajeer-7477	98	15	.	.	PUNCT
ajeer-7477	99	1	regarding	regard	VERB
ajeer-7477	99	2	the	the	DET
ajeer-7477	99	3	role	role	NOUN
ajeer-7477	99	4	of	of	ADP
ajeer-7477	99	5	financial	financial	ADJ
ajeer-7477	99	6	markets	market	NOUN
ajeer-7477	99	7	and	and	CCONJ
ajeer-7477	99	8	institutions	institution	NOUN
ajeer-7477	99	9	:	:	PUNCT
ajeer-7477	99	10	arestis	arestis	NOUN
ajeer-7477	99	11	,	,	PUNCT
ajeer-7477	99	12	demetriades	demetriade	NOUN
ajeer-7477	99	13	,	,	PUNCT
ajeer-7477	99	14	and	and	CCONJ
ajeer-7477	99	15	luintel	luintel	NOUN
ajeer-7477	99	16	(	(	PUNCT
ajeer-7477	99	17	2001	2001	NUM
ajeer-7477	99	18	)	)	PUNCT
ajeer-7477	99	19	and	and	CCONJ
ajeer-7477	99	20	levine	levine	PROPN
ajeer-7477	99	21	and	and	CCONJ
ajeer-7477	99	22	zervos	zervos	PROPN
ajeer-7477	99	23	(	(	PUNCT
ajeer-7477	99	24	1996	1996	NUM
ajeer-7477	99	25	)	)	PUNCT
ajeer-7477	99	26	provided	provide	VERB
ajeer-7477	99	27	comprehensive	comprehensive	ADJ
ajeer-7477	99	28	analyses	analysis	NOUN
ajeer-7477	99	29	on	on	ADP
ajeer-7477	99	30	how	how	SCONJ
ajeer-7477	99	31	stock	stock	NOUN
ajeer-7477	99	32	markets	market	NOUN
ajeer-7477	99	33	contribute	contribute	VERB
ajeer-7477	99	34	to	to	ADP
ajeer-7477	99	35	economic	economic	ADJ
ajeer-7477	99	36	growth	growth	NOUN
ajeer-7477	99	37	.	.	PUNCT
ajeer-7477	100	1	they	they	PRON
ajeer-7477	100	2	concluded	conclude	VERB
ajeer-7477	100	3	that	that	SCONJ
ajeer-7477	100	4	stock	stock	NOUN
ajeer-7477	100	5	markets	market	NOUN
ajeer-7477	100	6	enhance	enhance	VERB
ajeer-7477	100	7	growth	growth	NOUN
ajeer-7477	100	8	through	through	ADP
ajeer-7477	100	9	improving	improve	VERB
ajeer-7477	100	10	liquidity	liquidity	NOUN
ajeer-7477	100	11	and	and	CCONJ
ajeer-7477	100	12	facilitating	facilitate	VERB
ajeer-7477	100	13	investment	investment	NOUN
ajeer-7477	100	14	diversification	diversification	NOUN
ajeer-7477	100	15	,	,	PUNCT
ajeer-7477	100	16	which	which	PRON
ajeer-7477	100	17	in	in	ADP
ajeer-7477	100	18	turn	turn	NOUN
ajeer-7477	100	19	lowers	lower	VERB
ajeer-7477	100	20	the	the	DET
ajeer-7477	100	21	cost	cost	NOUN
ajeer-7477	100	22	of	of	ADP
ajeer-7477	100	23	capital	capital	NOUN
ajeer-7477	100	24	and	and	CCONJ
ajeer-7477	100	25	supports	support	VERB
ajeer-7477	100	26	corporate	corporate	ADJ
ajeer-7477	100	27	investments	investment	NOUN
ajeer-7477	100	28	.	.	PUNCT
ajeer-7477	101	1	shen	shen	PROPN
ajeer-7477	101	2	and	and	CCONJ
ajeer-7477	101	3	wei	wei	PROPN
ajeer-7477	101	4	(	(	PUNCT
ajeer-7477	101	5	2021	2021	NUM
ajeer-7477	101	6	)	)	PUNCT
ajeer-7477	101	7	examined	examine	VERB
ajeer-7477	101	8	panel	panel	NOUN
ajeer-7477	101	9	data	datum	NOUN
ajeer-7477	101	10	from	from	ADP
ajeer-7477	101	11	31	31	NUM
ajeer-7477	101	12	provinces	province	NOUN
ajeer-7477	101	13	in	in	ADP
ajeer-7477	101	14	china	china	PROPN
ajeer-7477	101	15	covering	cover	VERB
ajeer-7477	101	16	2007	2007	NUM
ajeer-7477	101	17	to	to	ADP
ajeer-7477	101	18	2019	2019	NUM
ajeer-7477	101	19	.	.	PUNCT
ajeer-7477	102	1	their	their	PRON
ajeer-7477	102	2	research	research	NOUN
ajeer-7477	102	3	measured	measure	VERB
ajeer-7477	102	4	financial	financial	ADJ
ajeer-7477	102	5	openness	openness	NOUN
ajeer-7477	102	6	and	and	CCONJ
ajeer-7477	102	7	financial	financial	ADJ
ajeer-7477	102	8	risk	risk	NOUN
ajeer-7477	102	9	at	at	ADP
ajeer-7477	102	10	the	the	DET
ajeer-7477	102	11	regional	regional	ADJ
ajeer-7477	102	12	level	level	NOUN
ajeer-7477	102	13	,	,	PUNCT
ajeer-7477	102	14	analyzing	analyze	VERB
ajeer-7477	102	15	how	how	SCONJ
ajeer-7477	102	16	regional	regional	ADJ
ajeer-7477	102	17	financial	financial	ADJ
ajeer-7477	102	18	openness	openness	NOUN
ajeer-7477	102	19	dynamically	dynamically	ADV
ajeer-7477	102	20	affects	affect	VERB
ajeer-7477	102	21	financial	financial	ADJ
ajeer-7477	102	22	risk	risk	NOUN
ajeer-7477	102	23	.	.	PUNCT
ajeer-7477	103	1	the	the	DET
ajeer-7477	103	2	results	result	NOUN
ajeer-7477	103	3	showed	show	VERB
ajeer-7477	103	4	that	that	SCONJ
ajeer-7477	103	5	the	the	DET
ajeer-7477	103	6	level	level	NOUN
ajeer-7477	103	7	of	of	ADP
ajeer-7477	103	8	financial	financial	ADJ
ajeer-7477	103	9	openness	openness	NOUN
ajeer-7477	103	10	and	and	CCONJ
ajeer-7477	103	11	financial	financial	ADJ
ajeer-7477	103	12	risk	risk	NOUN
ajeer-7477	103	13	varies	vary	VERB
ajeer-7477	103	14	greatly	greatly	ADV
ajeer-7477	103	15	among	among	ADP
ajeer-7477	103	16	provinces	province	NOUN
ajeer-7477	103	17	in	in	ADP
ajeer-7477	103	18	china	china	PROPN
ajeer-7477	103	19	,	,	PUNCT
ajeer-7477	103	20	and	and	CCONJ
ajeer-7477	103	21	there	there	PRON
ajeer-7477	103	22	is	be	VERB
ajeer-7477	103	23	heterogeneity	heterogeneity	NOUN
ajeer-7477	103	24	in	in	ADP
ajeer-7477	103	25	the	the	DET
ajeer-7477	103	26	effect	effect	NOUN
ajeer-7477	103	27	of	of	ADP
ajeer-7477	103	28	financial	financial	ADJ
ajeer-7477	103	29	openness	openness	NOUN
ajeer-7477	103	30	on	on	ADP
ajeer-7477	103	31	financial	financial	ADJ
ajeer-7477	103	32	risk	risk	NOUN
ajeer-7477	103	33	among	among	ADP
ajeer-7477	103	34	provinces	province	NOUN
ajeer-7477	103	35	.	.	PUNCT
ajeer-7477	104	1	in	in	ADP
ajeer-7477	104	2	regions	region	NOUN
ajeer-7477	104	3	with	with	ADP
ajeer-7477	104	4	weak	weak	ADJ
ajeer-7477	104	5	economic	economic	ADJ
ajeer-7477	104	6	foundations	foundation	NOUN
ajeer-7477	104	7	and	and	CCONJ
ajeer-7477	104	8	a	a	DET
ajeer-7477	104	9	low	low	ADJ
ajeer-7477	104	10	level	level	NOUN
ajeer-7477	104	11	of	of	ADP
ajeer-7477	104	12	financial	financial	ADJ
ajeer-7477	104	13	development	development	NOUN
ajeer-7477	104	14	,	,	PUNCT
ajeer-7477	104	15	financial	financial	ADJ
ajeer-7477	104	16	openness	openness	NOUN
ajeer-7477	104	17	can	can	AUX
ajeer-7477	104	18	reduce	reduce	VERB
ajeer-7477	104	19	regional	regional	ADJ
ajeer-7477	104	20	financial	financial	ADJ
ajeer-7477	104	21	risk	risk	NOUN
ajeer-7477	104	22	.	.	PUNCT
ajeer-7477	105	1	in	in	ADP
ajeer-7477	105	2	regions	region	NOUN
ajeer-7477	105	3	with	with	ADP
ajeer-7477	105	4	a	a	DET
ajeer-7477	105	5	better	well	ADJ
ajeer-7477	105	6	economic	economic	ADJ
ajeer-7477	105	7	foundation	foundation	NOUN
ajeer-7477	105	8	and	and	CCONJ
ajeer-7477	105	9	higher	high	ADJ
ajeer-7477	105	10	financial	financial	ADJ
ajeer-7477	105	11	development	development	NOUN
ajeer-7477	105	12	levels	level	NOUN
ajeer-7477	105	13	,	,	PUNCT
ajeer-7477	105	14	the	the	DET
ajeer-7477	105	15	improvement	improvement	NOUN
ajeer-7477	105	16	of	of	ADP
ajeer-7477	105	17	the	the	DET
ajeer-7477	105	18	regional	regional	ADJ
ajeer-7477	105	19	financial	financial	ADJ
ajeer-7477	105	20	openness	openness	NOUN
ajeer-7477	105	21	level	level	NOUN
ajeer-7477	105	22	brings	bring	VERB
ajeer-7477	105	23	relatively	relatively	ADV
ajeer-7477	105	24	large	large	ADJ
ajeer-7477	105	25	financial	financial	ADJ
ajeer-7477	105	26	risks	risk	NOUN
ajeer-7477	105	27	.	.	PUNCT
ajeer-7477	106	1	njindan	njindan	PROPN
ajeer-7477	106	2	iyke	iyke	PROPN
ajeer-7477	106	3	and	and	CCONJ
ajeer-7477	106	4	odhiambo	odhiambo	ADJ
ajeer-7477	106	5	(	(	PUNCT
ajeer-7477	106	6	2017	2017	NUM
ajeer-7477	106	7	)	)	PUNCT
ajeer-7477	106	8	investigated	investigate	VERB
ajeer-7477	106	9	how	how	SCONJ
ajeer-7477	106	10	inflationary	inflationary	ADJ
ajeer-7477	106	11	thresholds	threshold	NOUN
ajeer-7477	106	12	affect	affect	VERB
ajeer-7477	106	13	the	the	DET
ajeer-7477	106	14	relationship	relationship	NOUN
ajeer-7477	106	15	between	between	ADP
ajeer-7477	106	16	finance	finance	NOUN
ajeer-7477	106	17	and	and	CCONJ
ajeer-7477	106	18	economic	economic	ADJ
ajeer-7477	106	19	growth	growth	NOUN
ajeer-7477	106	20	in	in	ADP
ajeer-7477	106	21	ghana	ghana	PROPN
ajeer-7477	106	22	and	and	CCONJ
ajeer-7477	106	23	nigeria	nigeria	PROPN
ajeer-7477	106	24	.	.	PUNCT
ajeer-7477	107	1	their	their	PRON
ajeer-7477	107	2	study	study	NOUN
ajeer-7477	107	3	identified	identify	VERB
ajeer-7477	107	4	inflationary	inflationary	ADJ
ajeer-7477	107	5	thresholds	threshold	NOUN
ajeer-7477	107	6	for	for	ADP
ajeer-7477	107	7	both	both	DET
ajeer-7477	107	8	countries	country	NOUN
ajeer-7477	107	9	:	:	PUNCT
ajeer-7477	107	10	10.73%–29.83	10.73%–29.83	NUM
ajeer-7477	107	11	%	%	NOUN
ajeer-7477	107	12	for	for	ADP
ajeer-7477	107	13	ghana	ghana	PROPN
ajeer-7477	107	14	and	and	CCONJ
ajeer-7477	107	15	10.07%–19.25	10.07%–19.25	NUM
ajeer-7477	107	16	%	%	NOUN
ajeer-7477	107	17	for	for	ADP
ajeer-7477	107	18	nigeria	nigeria	PROPN
ajeer-7477	107	19	.	.	PUNCT
ajeer-7477	108	1	the	the	DET
ajeer-7477	108	2	findings	finding	NOUN
ajeer-7477	108	3	revealed	reveal	VERB
ajeer-7477	108	4	that	that	SCONJ
ajeer-7477	108	5	financial	financial	ADJ
ajeer-7477	108	6	development	development	NOUN
ajeer-7477	108	7	asian	asian	PROPN
ajeer-7477	108	8	journal	journal	PROPN
ajeer-7477	108	9	of	of	ADP
ajeer-7477	108	10	economics	economic	NOUN
ajeer-7477	108	11	and	and	CCONJ
ajeer-7477	108	12	empirical	empirical	ADJ
ajeer-7477	108	13	research	research	NOUN
ajeer-7477	108	14	,	,	PUNCT
ajeer-7477	108	15	2025	2025	NUM
ajeer-7477	108	16	,	,	PUNCT
ajeer-7477	108	17	12(2	12(2	NUM
ajeer-7477	108	18	):	):	PUNCT
ajeer-7477	108	19	104	104	NUM
ajeer-7477	108	20	-	-	SYM
ajeer-7477	108	21	112	112	NUM
ajeer-7477	108	22	107	107	NUM
ajeer-7477	108	23	©	©	PROPN
ajeer-7477	108	24	2025	2025	NUM
ajeer-7477	108	25	by	by	ADP
ajeer-7477	108	26	the	the	DET
ajeer-7477	108	27	authors	author	NOUN
ajeer-7477	108	28	;	;	PUNCT
ajeer-7477	108	29	licensee	licensee	PROPN
ajeer-7477	108	30	asian	asian	ADJ
ajeer-7477	108	31	online	online	PROPN
ajeer-7477	108	32	journal	journal	PROPN
ajeer-7477	108	33	publishing	publishing	NOUN
ajeer-7477	108	34	group	group	NOUN
ajeer-7477	108	35	promotes	promote	VERB
ajeer-7477	108	36	economic	economic	ADJ
ajeer-7477	108	37	growth	growth	NOUN
ajeer-7477	108	38	during	during	ADP
ajeer-7477	108	39	periods	period	NOUN
ajeer-7477	108	40	of	of	ADP
ajeer-7477	108	41	low	low	ADJ
ajeer-7477	108	42	to	to	ADP
ajeer-7477	108	43	moderate	moderate	ADJ
ajeer-7477	108	44	inflation	inflation	NOUN
ajeer-7477	108	45	but	but	CCONJ
ajeer-7477	108	46	has	have	VERB
ajeer-7477	108	47	little	little	ADJ
ajeer-7477	108	48	to	to	PART
ajeer-7477	108	49	no	no	DET
ajeer-7477	108	50	effect	effect	NOUN
ajeer-7477	108	51	during	during	ADP
ajeer-7477	108	52	high	high	ADJ
ajeer-7477	108	53	inflation	inflation	NOUN
ajeer-7477	108	54	periods	period	NOUN
ajeer-7477	108	55	.	.	PUNCT
ajeer-7477	109	1	however	however	ADV
ajeer-7477	109	2	,	,	PUNCT
ajeer-7477	109	3	using	use	VERB
ajeer-7477	109	4	a	a	DET
ajeer-7477	109	5	balanced	balanced	ADJ
ajeer-7477	109	6	panel	panel	NOUN
ajeer-7477	109	7	dataset	dataset	NOUN
ajeer-7477	109	8	covering	cover	VERB
ajeer-7477	109	9	30	30	NUM
ajeer-7477	109	10	chinese	chinese	ADJ
ajeer-7477	109	11	provinces	province	NOUN
ajeer-7477	109	12	from	from	ADP
ajeer-7477	109	13	1987	1987	NUM
ajeer-7477	109	14	to	to	ADP
ajeer-7477	109	15	2017	2017	NUM
ajeer-7477	109	16	,	,	PUNCT
ajeer-7477	109	17	li	li	PROPN
ajeer-7477	109	18	and	and	CCONJ
ajeer-7477	109	19	wei	wei	PROPN
ajeer-7477	109	20	(	(	PUNCT
ajeer-7477	109	21	2021	2021	NUM
ajeer-7477	109	22	)	)	PUNCT
ajeer-7477	109	23	analyzed	analyze	VERB
ajeer-7477	109	24	how	how	SCONJ
ajeer-7477	109	25	carbon	carbon	NOUN
ajeer-7477	109	26	emissions	emission	NOUN
ajeer-7477	109	27	influenced	influence	VERB
ajeer-7477	109	28	economic	economic	ADJ
ajeer-7477	109	29	growth	growth	NOUN
ajeer-7477	109	30	.	.	PUNCT
ajeer-7477	110	1	they	they	PRON
ajeer-7477	110	2	explored	explore	VERB
ajeer-7477	110	3	the	the	DET
ajeer-7477	110	4	relationship	relationship	NOUN
ajeer-7477	110	5	between	between	ADP
ajeer-7477	110	6	economic	economic	ADJ
ajeer-7477	110	7	growth	growth	NOUN
ajeer-7477	110	8	and	and	CCONJ
ajeer-7477	110	9	factors	factor	NOUN
ajeer-7477	110	10	such	such	ADJ
ajeer-7477	110	11	as	as	ADP
ajeer-7477	110	12	financial	financial	ADJ
ajeer-7477	110	13	development	development	NOUN
ajeer-7477	110	14	(	(	PUNCT
ajeer-7477	110	15	such	such	ADJ
ajeer-7477	110	16	as	as	ADP
ajeer-7477	110	17	deposits	deposit	NOUN
ajeer-7477	110	18	and	and	CCONJ
ajeer-7477	110	19	loans	loan	NOUN
ajeer-7477	110	20	per	per	ADP
ajeer-7477	110	21	capita	capita	NOUN
ajeer-7477	110	22	)	)	PUNCT
ajeer-7477	110	23	,	,	PUNCT
ajeer-7477	110	24	innovation	innovation	NOUN
ajeer-7477	110	25	,	,	PUNCT
ajeer-7477	110	26	economic	economic	ADJ
ajeer-7477	110	27	openness	openness	NOUN
ajeer-7477	110	28	(	(	PUNCT
ajeer-7477	110	29	imports	import	NOUN
ajeer-7477	110	30	and	and	CCONJ
ajeer-7477	110	31	exports	export	NOUN
ajeer-7477	110	32	per	per	ADP
ajeer-7477	110	33	capita	capita	NOUN
ajeer-7477	110	34	)	)	PUNCT
ajeer-7477	110	35	,	,	PUNCT
ajeer-7477	110	36	capital	capital	NOUN
ajeer-7477	110	37	stock	stock	NOUN
ajeer-7477	110	38	,	,	PUNCT
ajeer-7477	110	39	and	and	CCONJ
ajeer-7477	110	40	carbon	carbon	NOUN
ajeer-7477	110	41	emissions	emission	NOUN
ajeer-7477	110	42	(	(	PUNCT
ajeer-7477	110	43	co2	co2	NOUN
ajeer-7477	110	44	emissions	emission	NOUN
ajeer-7477	110	45	in	in	ADP
ajeer-7477	110	46	million	million	NUM
ajeer-7477	110	47	tonnes	tonne	NOUN
ajeer-7477	110	48	with	with	ADP
ajeer-7477	110	49	a	a	DET
ajeer-7477	110	50	one	one	NUM
ajeer-7477	110	51	-	-	PUNCT
ajeer-7477	110	52	period	period	NOUN
ajeer-7477	110	53	lag	lag	NOUN
ajeer-7477	110	54	)	)	PUNCT
ajeer-7477	110	55	.	.	PUNCT
ajeer-7477	111	1	their	their	PRON
ajeer-7477	111	2	findings	finding	NOUN
ajeer-7477	111	3	indicate	indicate	VERB
ajeer-7477	111	4	two	two	NUM
ajeer-7477	111	5	main	main	ADJ
ajeer-7477	111	6	conclusions	conclusion	NOUN
ajeer-7477	111	7	:	:	PUNCT
ajeer-7477	111	8	i	i	NOUN
ajeer-7477	111	9	)	)	PUNCT
ajeer-7477	111	10	there	there	PRON
ajeer-7477	111	11	are	be	VERB
ajeer-7477	111	12	complex	complex	ADJ
ajeer-7477	111	13	nonlinear	nonlinear	ADJ
ajeer-7477	111	14	connections	connection	NOUN
ajeer-7477	111	15	between	between	ADP
ajeer-7477	111	16	carbon	carbon	NOUN
ajeer-7477	111	17	emissions	emission	NOUN
ajeer-7477	111	18	,	,	PUNCT
ajeer-7477	111	19	financial	financial	ADJ
ajeer-7477	111	20	development	development	NOUN
ajeer-7477	111	21	,	,	PUNCT
ajeer-7477	111	22	economic	economic	ADJ
ajeer-7477	111	23	openness	openness	NOUN
ajeer-7477	111	24	,	,	PUNCT
ajeer-7477	111	25	innovation	innovation	NOUN
ajeer-7477	111	26	,	,	PUNCT
ajeer-7477	111	27	and	and	CCONJ
ajeer-7477	111	28	economic	economic	ADJ
ajeer-7477	111	29	growth	growth	NOUN
ajeer-7477	111	30	;	;	PUNCT
ajeer-7477	111	31	and	and	CCONJ
ajeer-7477	111	32	ii	ii	X
ajeer-7477	111	33	)	)	PUNCT
ajeer-7477	111	34	carbon	carbon	NOUN
ajeer-7477	111	35	emissions	emission	NOUN
ajeer-7477	111	36	reduce	reduce	VERB
ajeer-7477	111	37	the	the	DET
ajeer-7477	111	38	positive	positive	ADJ
ajeer-7477	111	39	effects	effect	NOUN
ajeer-7477	111	40	of	of	ADP
ajeer-7477	111	41	financial	financial	ADJ
ajeer-7477	111	42	development	development	NOUN
ajeer-7477	111	43	and	and	CCONJ
ajeer-7477	111	44	innovation	innovation	NOUN
ajeer-7477	111	45	on	on	ADP
ajeer-7477	111	46	economic	economic	ADJ
ajeer-7477	111	47	growth	growth	NOUN
ajeer-7477	111	48	.	.	PUNCT
ajeer-7477	112	1	meanwhile	meanwhile	ADV
ajeer-7477	112	2	,	,	PUNCT
ajeer-7477	112	3	scholars	scholar	NOUN
ajeer-7477	112	4	also	also	ADV
ajeer-7477	112	5	examined	examine	VERB
ajeer-7477	112	6	the	the	DET
ajeer-7477	112	7	nonlinear	nonlinear	ADJ
ajeer-7477	112	8	relationship	relationship	NOUN
ajeer-7477	112	9	existing	exist	VERB
ajeer-7477	112	10	between	between	ADP
ajeer-7477	112	11	financial	financial	ADJ
ajeer-7477	112	12	development	development	NOUN
ajeer-7477	112	13	,	,	PUNCT
ajeer-7477	112	14	financial	financial	ADJ
ajeer-7477	112	15	openness	openness	NOUN
ajeer-7477	112	16	,	,	PUNCT
ajeer-7477	112	17	and	and	CCONJ
ajeer-7477	112	18	economic	economic	ADJ
ajeer-7477	112	19	growth	growth	NOUN
ajeer-7477	112	20	.	.	PUNCT
ajeer-7477	113	1	guo	guo	PROPN
ajeer-7477	113	2	and	and	CCONJ
ajeer-7477	113	3	peng	peng	PROPN
ajeer-7477	113	4	(	(	PUNCT
ajeer-7477	113	5	2016	2016	NUM
ajeer-7477	113	6	)	)	PUNCT
ajeer-7477	113	7	conducted	conduct	VERB
ajeer-7477	113	8	an	an	DET
ajeer-7477	113	9	analysis	analysis	NOUN
ajeer-7477	113	10	using	use	VERB
ajeer-7477	113	11	data	datum	NOUN
ajeer-7477	113	12	from	from	ADP
ajeer-7477	113	13	87	87	NUM
ajeer-7477	113	14	countries	country	NOUN
ajeer-7477	113	15	and	and	CCONJ
ajeer-7477	113	16	delved	delve	VERB
ajeer-7477	113	17	deeper	deeply	ADV
ajeer-7477	113	18	into	into	ADP
ajeer-7477	113	19	the	the	DET
ajeer-7477	113	20	provinces	province	NOUN
ajeer-7477	113	21	in	in	ADP
ajeer-7477	113	22	china	china	PROPN
ajeer-7477	113	23	,	,	PUNCT
ajeer-7477	113	24	precisely	precisely	ADV
ajeer-7477	113	25	31	31	NUM
ajeer-7477	113	26	of	of	ADP
ajeer-7477	113	27	them	they	PRON
ajeer-7477	113	28	,	,	PUNCT
ajeer-7477	113	29	including	include	VERB
ajeer-7477	113	30	municipalities	municipality	NOUN
ajeer-7477	113	31	and	and	CCONJ
ajeer-7477	113	32	autonomous	autonomous	ADJ
ajeer-7477	113	33	regions	region	NOUN
ajeer-7477	113	34	.	.	PUNCT
ajeer-7477	114	1	this	this	PRON
ajeer-7477	114	2	involved	involve	VERB
ajeer-7477	114	3	computing	compute	VERB
ajeer-7477	114	4	individual	individual	ADJ
ajeer-7477	114	5	threshold	threshold	NOUN
ajeer-7477	114	6	values	value	NOUN
ajeer-7477	114	7	for	for	ADP
ajeer-7477	114	8	capital	capital	NOUN
ajeer-7477	114	9	account	account	NOUN
ajeer-7477	114	10	openness	openness	NOUN
ajeer-7477	114	11	in	in	ADP
ajeer-7477	114	12	each	each	DET
ajeer-7477	114	13	province	province	NOUN
ajeer-7477	114	14	and	and	CCONJ
ajeer-7477	114	15	assessing	assess	VERB
ajeer-7477	114	16	how	how	SCONJ
ajeer-7477	114	17	varying	vary	VERB
ajeer-7477	114	18	openness	openness	NOUN
ajeer-7477	114	19	levels	level	NOUN
ajeer-7477	114	20	impacted	impact	VERB
ajeer-7477	114	21	the	the	DET
ajeer-7477	114	22	economy	economy	NOUN
ajeer-7477	114	23	across	across	ADP
ajeer-7477	114	24	these	these	DET
ajeer-7477	114	25	regions	region	NOUN
ajeer-7477	114	26	.	.	PUNCT
ajeer-7477	115	1	their	their	PRON
ajeer-7477	115	2	findings	finding	NOUN
ajeer-7477	115	3	revealed	reveal	VERB
ajeer-7477	115	4	three	three	NUM
ajeer-7477	115	5	key	key	ADJ
ajeer-7477	115	6	points	point	NOUN
ajeer-7477	115	7	:	:	PUNCT
ajeer-7477	115	8	firstly	firstly	ADV
ajeer-7477	115	9	,	,	PUNCT
ajeer-7477	115	10	a	a	DET
ajeer-7477	115	11	threshold	threshold	NOUN
ajeer-7477	115	12	effect	effect	NOUN
ajeer-7477	115	13	exists	exist	VERB
ajeer-7477	115	14	in	in	ADP
ajeer-7477	115	15	how	how	SCONJ
ajeer-7477	115	16	capital	capital	NOUN
ajeer-7477	115	17	account	account	NOUN
ajeer-7477	115	18	openness	openness	NOUN
ajeer-7477	115	19	influences	influence	VERB
ajeer-7477	115	20	economic	economic	ADJ
ajeer-7477	115	21	growth	growth	NOUN
ajeer-7477	115	22	,	,	PUNCT
ajeer-7477	115	23	signaling	signal	VERB
ajeer-7477	115	24	china	china	PROPN
ajeer-7477	115	25	is	be	AUX
ajeer-7477	115	26	positioned	position	VERB
ajeer-7477	115	27	within	within	ADP
ajeer-7477	115	28	a	a	DET
ajeer-7477	115	29	range	range	NOUN
ajeer-7477	115	30	capable	capable	ADJ
ajeer-7477	115	31	of	of	ADP
ajeer-7477	115	32	reaping	reap	VERB
ajeer-7477	115	33	benefits	benefit	NOUN
ajeer-7477	115	34	from	from	ADP
ajeer-7477	115	35	an	an	DET
ajeer-7477	115	36	open	open	ADJ
ajeer-7477	115	37	capital	capital	NOUN
ajeer-7477	115	38	account	account	NOUN
ajeer-7477	115	39	.	.	PUNCT
ajeer-7477	116	1	secondly	secondly	ADV
ajeer-7477	116	2	,	,	PUNCT
ajeer-7477	116	3	the	the	DET
ajeer-7477	116	4	relationship	relationship	NOUN
ajeer-7477	116	5	between	between	ADP
ajeer-7477	116	6	economic	economic	ADJ
ajeer-7477	116	7	promotion	promotion	NOUN
ajeer-7477	116	8	from	from	ADP
ajeer-7477	116	9	capital	capital	NOUN
ajeer-7477	116	10	account	account	NOUN
ajeer-7477	116	11	openness	openness	NOUN
ajeer-7477	116	12	and	and	CCONJ
ajeer-7477	116	13	the	the	DET
ajeer-7477	116	14	extent	extent	NOUN
ajeer-7477	116	15	of	of	ADP
ajeer-7477	116	16	global	global	ADJ
ajeer-7477	116	17	openness	openness	NOUN
ajeer-7477	116	18	is	be	AUX
ajeer-7477	116	19	n't	not	PART
ajeer-7477	116	20	straightforward	straightforward	ADJ
ajeer-7477	116	21	.	.	PUNCT
ajeer-7477	117	1	lastly	lastly	ADV
ajeer-7477	117	2	,	,	PUNCT
ajeer-7477	117	3	there	there	PRON
ajeer-7477	117	4	are	be	VERB
ajeer-7477	117	5	noteworthy	noteworthy	ADJ
ajeer-7477	117	6	differences	difference	NOUN
ajeer-7477	117	7	in	in	ADP
ajeer-7477	117	8	how	how	SCONJ
ajeer-7477	117	9	capital	capital	NOUN
ajeer-7477	117	10	account	account	NOUN
ajeer-7477	117	11	openness	openness	NOUN
ajeer-7477	117	12	impacts	impact	VERB
ajeer-7477	117	13	economic	economic	ADJ
ajeer-7477	117	14	growth	growth	NOUN
ajeer-7477	117	15	across	across	ADP
ajeer-7477	117	16	various	various	ADJ
ajeer-7477	117	17	chinese	chinese	ADJ
ajeer-7477	117	18	regions	region	NOUN
ajeer-7477	117	19	.	.	PUNCT
ajeer-7477	118	1	to	to	PART
ajeer-7477	118	2	optimize	optimize	VERB
ajeer-7477	118	3	the	the	DET
ajeer-7477	118	4	advantages	advantage	NOUN
ajeer-7477	118	5	of	of	ADP
ajeer-7477	118	6	an	an	DET
ajeer-7477	118	7	open	open	ADJ
ajeer-7477	118	8	capital	capital	NOUN
ajeer-7477	118	9	account	account	NOUN
ajeer-7477	118	10	,	,	PUNCT
ajeer-7477	118	11	china	china	PROPN
ajeer-7477	118	12	needs	need	VERB
ajeer-7477	118	13	heightened	heighten	VERB
ajeer-7477	118	14	global	global	ADJ
ajeer-7477	118	15	openness	openness	NOUN
ajeer-7477	118	16	overall	overall	ADV
ajeer-7477	118	17	.	.	PUNCT
ajeer-7477	119	1	additionally	additionally	ADV
ajeer-7477	119	2	,	,	PUNCT
ajeer-7477	119	3	specific	specific	ADJ
ajeer-7477	119	4	regions	region	NOUN
ajeer-7477	119	5	may	may	AUX
ajeer-7477	119	6	need	need	VERB
ajeer-7477	119	7	to	to	PART
ajeer-7477	119	8	focus	focus	VERB
ajeer-7477	119	9	on	on	ADP
ajeer-7477	119	10	increasing	increase	VERB
ajeer-7477	119	11	per	per	ADP
ajeer-7477	119	12	capita	capita	NOUN
ajeer-7477	119	13	income	income	NOUN
ajeer-7477	119	14	,	,	PUNCT
ajeer-7477	119	15	while	while	SCONJ
ajeer-7477	119	16	others	other	NOUN
ajeer-7477	119	17	could	could	AUX
ajeer-7477	119	18	benefit	benefit	VERB
ajeer-7477	119	19	from	from	ADP
ajeer-7477	119	20	restructuring	restructure	VERB
ajeer-7477	119	21	industries	industry	NOUN
ajeer-7477	119	22	to	to	PART
ajeer-7477	119	23	reduce	reduce	VERB
ajeer-7477	119	24	reliance	reliance	NOUN
ajeer-7477	119	25	on	on	ADP
ajeer-7477	119	26	foreign	foreign	ADJ
ajeer-7477	119	27	trade	trade	NOUN
ajeer-7477	119	28	.	.	PUNCT
ajeer-7477	120	1	similarly	similarly	ADV
ajeer-7477	120	2	,	,	PUNCT
ajeer-7477	120	3	guo	guo	PROPN
ajeer-7477	120	4	and	and	CCONJ
ajeer-7477	120	5	peng	peng	PROPN
ajeer-7477	120	6	(	(	PUNCT
ajeer-7477	120	7	2016	2016	NUM
ajeer-7477	120	8	)	)	PUNCT
ajeer-7477	120	9	examining	examine	VERB
ajeer-7477	120	10	both	both	CCONJ
ajeer-7477	120	11	national	national	ADJ
ajeer-7477	120	12	and	and	CCONJ
ajeer-7477	120	13	provincial	provincial	ADJ
ajeer-7477	120	14	levels	level	NOUN
ajeer-7477	120	15	in	in	ADP
ajeer-7477	120	16	china	china	PROPN
ajeer-7477	120	17	,	,	PUNCT
ajeer-7477	120	18	the	the	DET
ajeer-7477	120	19	study	study	NOUN
ajeer-7477	120	20	found	find	VERB
ajeer-7477	120	21	a	a	DET
ajeer-7477	120	22	notable	notable	ADJ
ajeer-7477	120	23	threshold	threshold	NOUN
ajeer-7477	120	24	effect	effect	NOUN
ajeer-7477	120	25	of	of	ADP
ajeer-7477	120	26	financial	financial	ADJ
ajeer-7477	120	27	openness	openness	NOUN
ajeer-7477	120	28	on	on	ADP
ajeer-7477	120	29	economic	economic	ADJ
ajeer-7477	120	30	growth	growth	NOUN
ajeer-7477	120	31	.	.	PUNCT
ajeer-7477	121	1	the	the	DET
ajeer-7477	121	2	same	same	ADJ
ajeer-7477	121	3	perspectives	perspective	NOUN
ajeer-7477	121	4	can	can	AUX
ajeer-7477	121	5	also	also	ADV
ajeer-7477	121	6	be	be	AUX
ajeer-7477	121	7	found	find	VERB
ajeer-7477	121	8	in	in	ADP
ajeer-7477	121	9	the	the	DET
ajeer-7477	121	10	studies	study	NOUN
ajeer-7477	121	11	of	of	ADP
ajeer-7477	121	12	liang	liang	PROPN
ajeer-7477	121	13	(	(	PUNCT
ajeer-7477	121	14	2020	2020	NUM
ajeer-7477	121	15	)	)	PUNCT
ajeer-7477	121	16	,	,	PUNCT
ajeer-7477	121	17	karim	karim	PROPN
ajeer-7477	121	18	,	,	PUNCT
ajeer-7477	121	19	chowdhury	chowdhury	PROPN
ajeer-7477	121	20	,	,	PUNCT
ajeer-7477	121	21	and	and	CCONJ
ajeer-7477	121	22	uddin	uddin	ADJ
ajeer-7477	121	23	(	(	PUNCT
ajeer-7477	121	24	2021	2021	NUM
ajeer-7477	121	25	)	)	PUNCT
ajeer-7477	121	26	,	,	PUNCT
ajeer-7477	121	27	and	and	CCONJ
ajeer-7477	121	28	nam	nam	NOUN
ajeer-7477	121	29	(	(	PUNCT
ajeer-7477	121	30	2024	2024	NUM
ajeer-7477	121	31	)	)	PUNCT
ajeer-7477	121	32	.	.	PUNCT
ajeer-7477	122	1	2.3	2.3	NUM
ajeer-7477	122	2	.	.	PUNCT
ajeer-7477	122	3	research	research	NOUN
ajeer-7477	122	4	gap	gap	NOUN
ajeer-7477	122	5	and	and	CCONJ
ajeer-7477	122	6	contribution	contribution	NOUN
ajeer-7477	122	7	of	of	ADP
ajeer-7477	122	8	the	the	DET
ajeer-7477	122	9	study	study	NOUN
ajeer-7477	122	10	despite	despite	SCONJ
ajeer-7477	122	11	extensive	extensive	ADJ
ajeer-7477	122	12	research	research	NOUN
ajeer-7477	122	13	on	on	ADP
ajeer-7477	122	14	the	the	DET
ajeer-7477	122	15	individual	individual	ADJ
ajeer-7477	122	16	effects	effect	NOUN
ajeer-7477	122	17	of	of	ADP
ajeer-7477	122	18	financial	financial	ADJ
ajeer-7477	122	19	development	development	NOUN
ajeer-7477	122	20	and	and	CCONJ
ajeer-7477	122	21	financial	financial	ADJ
ajeer-7477	122	22	openness	openness	NOUN
ajeer-7477	122	23	on	on	ADP
ajeer-7477	122	24	economic	economic	ADJ
ajeer-7477	122	25	growth	growth	NOUN
ajeer-7477	122	26	,	,	PUNCT
ajeer-7477	122	27	significant	significant	ADJ
ajeer-7477	122	28	gaps	gap	NOUN
ajeer-7477	122	29	remain	remain	VERB
ajeer-7477	122	30	in	in	ADP
ajeer-7477	122	31	understanding	understand	VERB
ajeer-7477	122	32	their	their	PRON
ajeer-7477	122	33	interactive	interactive	ADJ
ajeer-7477	122	34	dynamics	dynamic	NOUN
ajeer-7477	122	35	,	,	PUNCT
ajeer-7477	122	36	especially	especially	ADV
ajeer-7477	122	37	within	within	ADP
ajeer-7477	122	38	the	the	DET
ajeer-7477	122	39	context	context	NOUN
ajeer-7477	122	40	of	of	ADP
ajeer-7477	122	41	china	china	PROPN
ajeer-7477	122	42	's	's	PART
ajeer-7477	122	43	urban	urban	ADJ
ajeer-7477	122	44	agglomerations	agglomeration	NOUN
ajeer-7477	122	45	.	.	PUNCT
ajeer-7477	123	1	previous	previous	ADJ
ajeer-7477	123	2	studies	study	NOUN
ajeer-7477	123	3	,	,	PUNCT
ajeer-7477	123	4	such	such	ADJ
ajeer-7477	123	5	as	as	ADP
ajeer-7477	123	6	those	those	PRON
ajeer-7477	123	7	by	by	ADP
ajeer-7477	123	8	king	king	NOUN
ajeer-7477	123	9	and	and	CCONJ
ajeer-7477	123	10	levine	levine	PROPN
ajeer-7477	123	11	(	(	PUNCT
ajeer-7477	123	12	1993	1993	NUM
ajeer-7477	123	13	)	)	PUNCT
ajeer-7477	123	14	and	and	CCONJ
ajeer-7477	123	15	levine	levine	PROPN
ajeer-7477	123	16	(	(	PUNCT
ajeer-7477	123	17	2005	2005	NUM
ajeer-7477	123	18	)	)	PUNCT
ajeer-7477	123	19	,	,	PUNCT
ajeer-7477	123	20	have	have	AUX
ajeer-7477	123	21	underscored	underscore	VERB
ajeer-7477	123	22	the	the	DET
ajeer-7477	123	23	importance	importance	NOUN
ajeer-7477	123	24	of	of	ADP
ajeer-7477	123	25	financial	financial	ADJ
ajeer-7477	123	26	development	development	NOUN
ajeer-7477	123	27	for	for	ADP
ajeer-7477	123	28	mobilizing	mobilize	VERB
ajeer-7477	123	29	savings	saving	NOUN
ajeer-7477	123	30	and	and	CCONJ
ajeer-7477	123	31	allocating	allocate	VERB
ajeer-7477	123	32	investments	investment	NOUN
ajeer-7477	123	33	efficiently	efficiently	ADV
ajeer-7477	123	34	,	,	PUNCT
ajeer-7477	123	35	while	while	SCONJ
ajeer-7477	123	36	research	research	NOUN
ajeer-7477	123	37	by	by	ADP
ajeer-7477	123	38	klein	klein	PROPN
ajeer-7477	123	39	and	and	CCONJ
ajeer-7477	123	40	olivei	olivei	PROPN
ajeer-7477	123	41	(	(	PUNCT
ajeer-7477	123	42	2008	2008	NUM
ajeer-7477	123	43	)	)	PUNCT
ajeer-7477	123	44	and	and	CCONJ
ajeer-7477	123	45	henry	henry	PROPN
ajeer-7477	123	46	(	(	PUNCT
ajeer-7477	123	47	2007	2007	NUM
ajeer-7477	123	48	)	)	PUNCT
ajeer-7477	123	49	has	have	AUX
ajeer-7477	123	50	highlighted	highlight	VERB
ajeer-7477	123	51	how	how	SCONJ
ajeer-7477	123	52	financial	financial	ADJ
ajeer-7477	123	53	openness	openness	NOUN
ajeer-7477	123	54	can	can	AUX
ajeer-7477	123	55	attract	attract	VERB
ajeer-7477	123	56	foreign	foreign	ADJ
ajeer-7477	123	57	capital	capital	NOUN
ajeer-7477	123	58	and	and	CCONJ
ajeer-7477	123	59	diversify	diversify	ADJ
ajeer-7477	123	60	risks	risk	NOUN
ajeer-7477	123	61	.	.	PUNCT
ajeer-7477	124	1	however	however	ADV
ajeer-7477	124	2	,	,	PUNCT
ajeer-7477	124	3	these	these	DET
ajeer-7477	124	4	works	work	NOUN
ajeer-7477	124	5	typically	typically	ADV
ajeer-7477	124	6	treat	treat	VERB
ajeer-7477	124	7	the	the	DET
ajeer-7477	124	8	two	two	NUM
ajeer-7477	124	9	dimensions	dimension	NOUN
ajeer-7477	124	10	as	as	ADP
ajeer-7477	124	11	separate	separate	ADJ
ajeer-7477	124	12	influences	influence	NOUN
ajeer-7477	124	13	and	and	CCONJ
ajeer-7477	124	14	assume	assume	VERB
ajeer-7477	124	15	linear	linear	ADJ
ajeer-7477	124	16	relationships	relationship	NOUN
ajeer-7477	124	17	,	,	PUNCT
ajeer-7477	124	18	thereby	thereby	ADV
ajeer-7477	124	19	overlooking	overlook	VERB
ajeer-7477	124	20	the	the	DET
ajeer-7477	124	21	potential	potential	ADJ
ajeer-7477	124	22	nonlinear	nonlinear	ADJ
ajeer-7477	124	23	and	and	CCONJ
ajeer-7477	124	24	conditional	conditional	ADJ
ajeer-7477	124	25	effects	effect	NOUN
ajeer-7477	124	26	that	that	PRON
ajeer-7477	124	27	may	may	AUX
ajeer-7477	124	28	emerge	emerge	VERB
ajeer-7477	124	29	when	when	SCONJ
ajeer-7477	124	30	financial	financial	ADJ
ajeer-7477	124	31	openness	openness	NOUN
ajeer-7477	124	32	reaches	reach	VERB
ajeer-7477	124	33	certain	certain	ADJ
ajeer-7477	124	34	thresholds	threshold	NOUN
ajeer-7477	124	35	.	.	PUNCT
ajeer-7477	125	1	although	although	SCONJ
ajeer-7477	125	2	rajan	rajan	PROPN
ajeer-7477	125	3	and	and	CCONJ
ajeer-7477	125	4	zingales	zingales	PROPN
ajeer-7477	125	5	(	(	PUNCT
ajeer-7477	125	6	1996	1996	NUM
ajeer-7477	125	7	)	)	PUNCT
ajeer-7477	125	8	and	and	CCONJ
ajeer-7477	125	9	stiglitz	stiglitz	PROPN
ajeer-7477	125	10	(	(	PUNCT
ajeer-7477	125	11	2002	2002	NUM
ajeer-7477	125	12	)	)	PUNCT
ajeer-7477	125	13	offer	offer	VERB
ajeer-7477	125	14	valuable	valuable	ADJ
ajeer-7477	125	15	insights	insight	NOUN
ajeer-7477	125	16	into	into	ADP
ajeer-7477	125	17	the	the	DET
ajeer-7477	125	18	risks	risk	NOUN
ajeer-7477	125	19	and	and	CCONJ
ajeer-7477	125	20	benefits	benefit	NOUN
ajeer-7477	125	21	associated	associate	VERB
ajeer-7477	125	22	with	with	ADP
ajeer-7477	125	23	financial	financial	ADJ
ajeer-7477	125	24	systems	system	NOUN
ajeer-7477	125	25	and	and	CCONJ
ajeer-7477	125	26	global	global	ADJ
ajeer-7477	125	27	integration	integration	NOUN
ajeer-7477	125	28	,	,	PUNCT
ajeer-7477	125	29	they	they	PRON
ajeer-7477	125	30	do	do	AUX
ajeer-7477	125	31	not	not	PART
ajeer-7477	125	32	specifically	specifically	ADV
ajeer-7477	125	33	address	address	VERB
ajeer-7477	125	34	how	how	SCONJ
ajeer-7477	125	35	the	the	DET
ajeer-7477	125	36	interplay	interplay	NOUN
ajeer-7477	125	37	between	between	ADP
ajeer-7477	125	38	domestic	domestic	ADJ
ajeer-7477	125	39	financial	financial	ADJ
ajeer-7477	125	40	development	development	NOUN
ajeer-7477	125	41	and	and	CCONJ
ajeer-7477	125	42	international	international	ADJ
ajeer-7477	125	43	financial	financial	ADJ
ajeer-7477	125	44	integration	integration	NOUN
ajeer-7477	125	45	affects	affect	VERB
ajeer-7477	125	46	economic	economic	ADJ
ajeer-7477	125	47	outcomes	outcome	NOUN
ajeer-7477	125	48	in	in	ADP
ajeer-7477	125	49	rapidly	rapidly	ADV
ajeer-7477	125	50	urbanizing	urbanizing	ADJ
ajeer-7477	125	51	regions	region	NOUN
ajeer-7477	125	52	.	.	PUNCT
ajeer-7477	126	1	consequently	consequently	ADV
ajeer-7477	126	2	,	,	PUNCT
ajeer-7477	126	3	our	our	PRON
ajeer-7477	126	4	study	study	NOUN
ajeer-7477	126	5	seeks	seek	VERB
ajeer-7477	126	6	to	to	PART
ajeer-7477	126	7	bridge	bridge	VERB
ajeer-7477	126	8	this	this	DET
ajeer-7477	126	9	gap	gap	NOUN
ajeer-7477	126	10	by	by	ADP
ajeer-7477	126	11	employing	employ	VERB
ajeer-7477	126	12	a	a	DET
ajeer-7477	126	13	threshold	threshold	NOUN
ajeer-7477	126	14	regression	regression	NOUN
ajeer-7477	126	15	approach	approach	NOUN
ajeer-7477	126	16	to	to	PART
ajeer-7477	126	17	capture	capture	VERB
ajeer-7477	126	18	these	these	DET
ajeer-7477	126	19	nonlinear	nonlinear	ADJ
ajeer-7477	126	20	interactions	interaction	NOUN
ajeer-7477	126	21	and	and	CCONJ
ajeer-7477	126	22	provide	provide	VERB
ajeer-7477	126	23	a	a	DET
ajeer-7477	126	24	more	more	ADV
ajeer-7477	126	25	nuanced	nuanced	ADJ
ajeer-7477	126	26	understanding	understanding	NOUN
ajeer-7477	126	27	of	of	ADP
ajeer-7477	126	28	how	how	SCONJ
ajeer-7477	126	29	financial	financial	ADJ
ajeer-7477	126	30	openness	openness	NOUN
ajeer-7477	126	31	moderates	moderate	VERB
ajeer-7477	126	32	the	the	DET
ajeer-7477	126	33	impact	impact	NOUN
ajeer-7477	126	34	of	of	ADP
ajeer-7477	126	35	financial	financial	ADJ
ajeer-7477	126	36	development	development	NOUN
ajeer-7477	126	37	on	on	ADP
ajeer-7477	126	38	economic	economic	ADJ
ajeer-7477	126	39	growth	growth	NOUN
ajeer-7477	126	40	in	in	ADP
ajeer-7477	126	41	three	three	NUM
ajeer-7477	126	42	key	key	ADJ
ajeer-7477	126	43	urban	urban	ADJ
ajeer-7477	126	44	agglomerations	agglomeration	NOUN
ajeer-7477	126	45	in	in	ADP
ajeer-7477	126	46	china	china	PROPN
ajeer-7477	126	47	.	.	PUNCT
ajeer-7477	127	1	3	3	X
ajeer-7477	127	2	.	.	X
ajeer-7477	127	3	methodology	methodology	NOUN
ajeer-7477	127	4	3.1	3.1	NUM
ajeer-7477	127	5	.	.	PUNCT
ajeer-7477	127	6	data	datum	NOUN
ajeer-7477	127	7	source	source	NOUN
ajeer-7477	127	8	,	,	PUNCT
ajeer-7477	127	9	study	study	NOUN
ajeer-7477	127	10	period	period	NOUN
ajeer-7477	127	11	and	and	CCONJ
ajeer-7477	127	12	sample	sample	NOUN
ajeer-7477	127	13	regions	region	NOUN
ajeer-7477	127	14	the	the	DET
ajeer-7477	127	15	study	study	NOUN
ajeer-7477	127	16	has	have	AUX
ajeer-7477	127	17	compiled	compile	VERB
ajeer-7477	127	18	panel	panel	NOUN
ajeer-7477	127	19	data	datum	NOUN
ajeer-7477	127	20	for	for	ADP
ajeer-7477	127	21	three	three	NUM
ajeer-7477	127	22	urban	urban	ADJ
ajeer-7477	127	23	agglomeration	agglomeration	NOUN
ajeer-7477	127	24	regions	region	NOUN
ajeer-7477	127	25	,	,	PUNCT
ajeer-7477	127	26	namely	namely	ADV
ajeer-7477	127	27	the	the	DET
ajeer-7477	127	28	yangtze	yangtze	PROPN
ajeer-7477	127	29	river	river	PROPN
ajeer-7477	127	30	delta	delta	PROPN
ajeer-7477	127	31	,	,	PUNCT
ajeer-7477	127	32	the	the	DET
ajeer-7477	127	33	pearl	pearl	PROPN
ajeer-7477	127	34	river	river	PROPN
ajeer-7477	127	35	delta	delta	NOUN
ajeer-7477	127	36	,	,	PUNCT
ajeer-7477	127	37	and	and	CCONJ
ajeer-7477	127	38	jing	jing	ADJ
ajeer-7477	127	39	-	-	PUNCT
ajeer-7477	127	40	jin	jin	PROPN
ajeer-7477	127	41	-	-	PUNCT
ajeer-7477	127	42	ji	ji	PROPN
ajeer-7477	127	43	,	,	PUNCT
ajeer-7477	127	44	consisting	consist	VERB
ajeer-7477	127	45	of	of	ADP
ajeer-7477	127	46	10	10	NUM
ajeer-7477	127	47	provinces	province	NOUN
ajeer-7477	127	48	,	,	PUNCT
ajeer-7477	127	49	municipalities	municipality	NOUN
ajeer-7477	127	50	,	,	PUNCT
ajeer-7477	127	51	and	and	CCONJ
ajeer-7477	127	52	special	special	ADJ
ajeer-7477	127	53	administrative	administrative	ADJ
ajeer-7477	127	54	regions	region	NOUN
ajeer-7477	127	55	,	,	PUNCT
ajeer-7477	127	56	covering	cover	VERB
ajeer-7477	127	57	1995–2021	1995–2021	NUM
ajeer-7477	127	58	.	.	PUNCT
ajeer-7477	128	1	the	the	DET
ajeer-7477	128	2	dataset	dataset	NOUN
ajeer-7477	128	3	is	be	AUX
ajeer-7477	128	4	sourced	source	VERB
ajeer-7477	128	5	from	from	ADP
ajeer-7477	128	6	the	the	DET
ajeer-7477	128	7	china	china	PROPN
ajeer-7477	128	8	city	city	PROPN
ajeer-7477	128	9	statistical	statistical	ADJ
ajeer-7477	128	10	yearbook	yearbook	NOUN
ajeer-7477	128	11	,	,	PUNCT
ajeer-7477	128	12	china	china	PROPN
ajeer-7477	128	13	financial	financial	PROPN
ajeer-7477	128	14	yearbook	yearbook	NOUN
ajeer-7477	128	15	,	,	PUNCT
ajeer-7477	128	16	provincial	provincial	ADJ
ajeer-7477	128	17	statistical	statistical	ADJ
ajeer-7477	128	18	yearbook	yearbook	NOUN
ajeer-7477	128	19	,	,	PUNCT
ajeer-7477	128	20	and	and	CCONJ
ajeer-7477	128	21	hong	hong	PROPN
ajeer-7477	128	22	kong	kong	PROPN
ajeer-7477	128	23	and	and	CCONJ
ajeer-7477	128	24	macao	macao	PROPN
ajeer-7477	128	25	sar	sar	PROPN
ajeer-7477	128	26	yearbook	yearbook	PROPN
ajeer-7477	128	27	,	,	PUNCT
ajeer-7477	128	28	as	as	ADV
ajeer-7477	128	29	well	well	ADV
ajeer-7477	128	30	as	as	ADP
ajeer-7477	128	31	data	datum	NOUN
ajeer-7477	128	32	provided	provide	VERB
ajeer-7477	128	33	by	by	ADP
ajeer-7477	128	34	the	the	DET
ajeer-7477	128	35	china	china	PROPN
ajeer-7477	128	36	economic	economic	ADJ
ajeer-7477	128	37	network	network	NOUN
ajeer-7477	128	38	and	and	CCONJ
ajeer-7477	128	39	the	the	DET
ajeer-7477	128	40	national	national	PROPN
ajeer-7477	128	41	bureau	bureau	PROPN
ajeer-7477	128	42	of	of	ADP
ajeer-7477	128	43	statistics	statistic	NOUN
ajeer-7477	128	44	.	.	PUNCT
ajeer-7477	129	1	the	the	DET
ajeer-7477	129	2	choice	choice	NOUN
ajeer-7477	129	3	of	of	ADP
ajeer-7477	129	4	sample	sample	NOUN
ajeer-7477	129	5	,	,	PUNCT
ajeer-7477	129	6	study	study	NOUN
ajeer-7477	129	7	period	period	NOUN
ajeer-7477	129	8	,	,	PUNCT
ajeer-7477	129	9	model	model	NOUN
ajeer-7477	129	10	,	,	PUNCT
ajeer-7477	129	11	and	and	CCONJ
ajeer-7477	129	12	variables	variable	NOUN
ajeer-7477	129	13	is	be	AUX
ajeer-7477	129	14	based	base	VERB
ajeer-7477	129	15	on	on	ADP
ajeer-7477	129	16	the	the	DET
ajeer-7477	129	17	availability	availability	NOUN
ajeer-7477	129	18	of	of	ADP
ajeer-7477	129	19	data	datum	NOUN
ajeer-7477	129	20	,	,	PUNCT
ajeer-7477	129	21	theoretical	theoretical	ADJ
ajeer-7477	129	22	foundations	foundation	NOUN
ajeer-7477	129	23	,	,	PUNCT
ajeer-7477	129	24	and	and	CCONJ
ajeer-7477	129	25	existing	exist	VERB
ajeer-7477	129	26	literature	literature	NOUN
ajeer-7477	129	27	.	.	PUNCT
ajeer-7477	130	1	3.2	3.2	NUM
ajeer-7477	130	2	.	.	PUNCT
ajeer-7477	130	3	model	model	NOUN
ajeer-7477	130	4	specification	specification	NOUN
ajeer-7477	130	5	and	and	CCONJ
ajeer-7477	130	6	variables	variable	NOUN
ajeer-7477	130	7	the	the	DET
ajeer-7477	130	8	data	data	NOUN
ajeer-7477	130	9	is	be	AUX
ajeer-7477	130	10	first	first	ADV
ajeer-7477	130	11	checked	check	VERB
ajeer-7477	130	12	through	through	ADP
ajeer-7477	130	13	descriptive	descriptive	ADJ
ajeer-7477	130	14	statistics	statistic	NOUN
ajeer-7477	130	15	to	to	PART
ajeer-7477	130	16	assess	assess	VERB
ajeer-7477	130	17	the	the	DET
ajeer-7477	130	18	normality	normality	NOUN
ajeer-7477	130	19	of	of	ADP
ajeer-7477	130	20	data	datum	NOUN
ajeer-7477	130	21	,	,	PUNCT
ajeer-7477	130	22	and	and	CCONJ
ajeer-7477	130	23	then	then	ADV
ajeer-7477	130	24	the	the	DET
ajeer-7477	130	25	coefficient	coefficient	NOUN
ajeer-7477	130	26	of	of	ADP
ajeer-7477	130	27	correlation	correlation	NOUN
ajeer-7477	130	28	is	be	AUX
ajeer-7477	130	29	estimated	estimate	VERB
ajeer-7477	130	30	to	to	PART
ajeer-7477	130	31	examine	examine	VERB
ajeer-7477	130	32	the	the	DET
ajeer-7477	130	33	association	association	NOUN
ajeer-7477	130	34	and	and	CCONJ
ajeer-7477	130	35	multicollinearity	multicollinearity	NOUN
ajeer-7477	130	36	between	between	ADP
ajeer-7477	130	37	the	the	DET
ajeer-7477	130	38	variables	variable	NOUN
ajeer-7477	130	39	.	.	PUNCT
ajeer-7477	131	1	subsequently	subsequently	ADV
ajeer-7477	131	2	,	,	PUNCT
ajeer-7477	131	3	the	the	DET
ajeer-7477	131	4	variance	variance	NOUN
ajeer-7477	131	5	inflation	inflation	NOUN
ajeer-7477	131	6	factor	factor	NOUN
ajeer-7477	131	7	(	(	PUNCT
ajeer-7477	131	8	vif	vif	NOUN
ajeer-7477	131	9	)	)	PUNCT
ajeer-7477	131	10	is	be	AUX
ajeer-7477	131	11	applied	apply	VERB
ajeer-7477	131	12	to	to	PART
ajeer-7477	131	13	further	far	ADV
ajeer-7477	131	14	evaluate	evaluate	VERB
ajeer-7477	131	15	multicollinearity	multicollinearity	NOUN
ajeer-7477	131	16	.	.	PUNCT
ajeer-7477	132	1	additionally	additionally	ADV
ajeer-7477	132	2	,	,	PUNCT
ajeer-7477	132	3	unit	unit	NOUN
ajeer-7477	132	4	root	root	NOUN
ajeer-7477	132	5	tests	test	NOUN
ajeer-7477	132	6	are	be	AUX
ajeer-7477	132	7	conducted	conduct	VERB
ajeer-7477	132	8	to	to	PART
ajeer-7477	132	9	determine	determine	VERB
ajeer-7477	132	10	the	the	DET
ajeer-7477	132	11	order	order	NOUN
ajeer-7477	132	12	of	of	ADP
ajeer-7477	132	13	integration	integration	NOUN
ajeer-7477	132	14	,	,	PUNCT
ajeer-7477	132	15	along	along	ADP
ajeer-7477	132	16	with	with	ADP
ajeer-7477	132	17	the	the	DET
ajeer-7477	132	18	application	application	NOUN
ajeer-7477	132	19	of	of	ADP
ajeer-7477	132	20	kao	kao	PROPN
ajeer-7477	132	21	cointegration	cointegration	NOUN
ajeer-7477	132	22	tests	test	NOUN
ajeer-7477	132	23	.	.	PUNCT
ajeer-7477	133	1	later	later	ADV
ajeer-7477	133	2	,	,	PUNCT
ajeer-7477	133	3	the	the	DET
ajeer-7477	133	4	coefficients	coefficient	NOUN
ajeer-7477	133	5	are	be	AUX
ajeer-7477	133	6	estimated	estimate	VERB
ajeer-7477	133	7	using	use	VERB
ajeer-7477	133	8	the	the	DET
ajeer-7477	133	9	threshold	threshold	NOUN
ajeer-7477	133	10	regression	regression	NOUN
ajeer-7477	133	11	model	model	NOUN
ajeer-7477	133	12	developed	develop	VERB
ajeer-7477	133	13	by	by	ADP
ajeer-7477	133	14	hansen	hansen	PROPN
ajeer-7477	133	15	(	(	PUNCT
ajeer-7477	133	16	1999	1999	NUM
ajeer-7477	133	17	)	)	PUNCT
ajeer-7477	133	18	.	.	PUNCT
ajeer-7477	134	1	the	the	DET
ajeer-7477	134	2	models	model	NOUN
ajeer-7477	134	3	to	to	PART
ajeer-7477	134	4	be	be	AUX
ajeer-7477	134	5	estimated	estimate	VERB
ajeer-7477	134	6	is	be	AUX
ajeer-7477	134	7	given	give	VERB
ajeer-7477	134	8	in	in	ADP
ajeer-7477	134	9	equation	equation	NOUN
ajeer-7477	134	10	1	1	NUM
ajeer-7477	134	11	to	to	ADP
ajeer-7477	134	12	3	3	NUM
ajeer-7477	134	13	.	.	PUNCT
ajeer-7477	135	1	𝑃𝐺𝐷𝑃𝑖𝑡	𝑃𝐺𝐷𝑃𝑖𝑡	PROPN
ajeer-7477	135	2	=	=	SYM
ajeer-7477	135	3	𝛼0	𝛼0	PROPN
ajeer-7477	135	4	+	+	CCONJ
ajeer-7477	135	5	𝛽1𝐹𝐷𝑖𝑡	𝛽1𝐹𝐷𝑖𝑡	PROPN
ajeer-7477	135	6	+	+	CCONJ
ajeer-7477	135	7	𝛽2𝐺𝑜𝑣𝐸𝑥𝑝𝑖𝑡	𝛽2𝐺𝑜𝑣𝐸𝑥𝑝𝑖𝑡	ADJ
ajeer-7477	135	8	+	+	PUNCT
ajeer-7477	135	9	𝛽3𝑇𝐸𝐼𝑖𝑡	𝛽3𝑇𝐸𝐼𝑖𝑡	PROPN
ajeer-7477	135	10	+	+	NUM
ajeer-7477	135	11	𝛽4𝐸𝑅𝐻𝐸𝑖𝑡	𝛽4𝐸𝑅𝐻𝐸𝑖𝑡	NOUN
ajeer-7477	135	12	+	+	CCONJ
ajeer-7477	135	13	𝛽5𝐼𝑅𝑖𝑡	𝛽5𝐼𝑅𝑖𝑡	X
ajeer-7477	135	14	+	+	CCONJ
ajeer-7477	135	15	𝛽6𝑙𝑛𝐹𝐴𝐼	𝛽6𝑙𝑛𝐹𝐴𝐼	PUNCT
ajeer-7477	135	16	+	+	NUM
ajeer-7477	135	17	𝜀𝑖𝑡	𝜀𝑖𝑡	VERB
ajeer-7477	135	18	(	(	PUNCT
ajeer-7477	135	19	1	1	NUM
ajeer-7477	135	20	)	)	PUNCT
ajeer-7477	135	21	where	where	SCONJ
ajeer-7477	135	22	𝑖	𝑖	PRON
ajeer-7477	135	23	signifies	signify	VERB
ajeer-7477	135	24	various	various	ADJ
ajeer-7477	135	25	provinces	province	NOUN
ajeer-7477	135	26	or	or	CCONJ
ajeer-7477	135	27	municipalities	municipality	NOUN
ajeer-7477	135	28	included	include	VERB
ajeer-7477	135	29	in	in	ADP
ajeer-7477	135	30	the	the	DET
ajeer-7477	135	31	data	datum	NOUN
ajeer-7477	135	32	set	set	NOUN
ajeer-7477	135	33	,	,	PUNCT
ajeer-7477	135	34	t	t	PROPN
ajeer-7477	135	35	represents	represent	VERB
ajeer-7477	135	36	the	the	DET
ajeer-7477	135	37	time	time	NOUN
ajeer-7477	135	38	-	-	PUNCT
ajeer-7477	135	39	series	series	NOUN
ajeer-7477	135	40	dimension	dimension	NOUN
ajeer-7477	135	41	for	for	ADP
ajeer-7477	135	42	each	each	DET
ajeer-7477	135	43	observation	observation	NOUN
ajeer-7477	135	44	(	(	PUNCT
ajeer-7477	135	45	𝑡	𝑡	X
ajeer-7477	135	46	=	=	NOUN
ajeer-7477	135	47	1,	1,	NUM
ajeer-7477	135	48	...	...	PUNCT
ajeer-7477	135	49	,t	,t	PUNCT
ajeer-7477	135	50	)	)	PUNCT
ajeer-7477	135	51	,	,	PUNCT
ajeer-7477	135	52	𝐹𝑂𝑖𝑡is	𝐹𝑂𝑖𝑡is	PROPN
ajeer-7477	135	53	financial	financial	ADJ
ajeer-7477	135	54	openness	openness	NOUN
ajeer-7477	135	55	,	,	PUNCT
ajeer-7477	135	56	𝐺𝑂𝑉𝐸𝑋𝑃𝑖𝑡	𝐺𝑂𝑉𝐸𝑋𝑃𝑖𝑡	PROPN
ajeer-7477	135	57	is	be	AUX
ajeer-7477	135	58	government	government	NOUN
ajeer-7477	135	59	expenditure	expenditure	NOUN
ajeer-7477	135	60	,	,	PUNCT
ajeer-7477	135	61	𝑇𝐸𝐼𝑖𝑡	𝑇𝐸𝐼𝑖𝑡	PROPN
ajeer-7477	135	62	is	be	AUX
ajeer-7477	135	63	total	total	ADJ
ajeer-7477	135	64	exports	export	NOUN
ajeer-7477	135	65	and	and	CCONJ
ajeer-7477	135	66	imports	import	NOUN
ajeer-7477	135	67	,	,	PUNCT
ajeer-7477	135	68	𝐸𝑅𝐻𝐸𝑖𝑡	𝐸𝑅𝐻𝐸𝑖𝑡	PROPN
ajeer-7477	135	69	is	be	AUX
ajeer-7477	135	70	the	the	DET
ajeer-7477	135	71	gross	gross	ADJ
ajeer-7477	135	72	enrollment	enrollment	NOUN
ajeer-7477	135	73	of	of	ADP
ajeer-7477	135	74	higher	high	ADJ
ajeer-7477	135	75	education	education	NOUN
ajeer-7477	135	76	,	,	PUNCT
ajeer-7477	135	77	fai𝑖𝑡	fai𝑖𝑡	NOUN
ajeer-7477	135	78	is	be	AUX
ajeer-7477	135	79	fixed	fix	VERB
ajeer-7477	135	80	assets	asset	NOUN
ajeer-7477	135	81	investment	investment	NOUN
ajeer-7477	135	82	and	and	CCONJ
ajeer-7477	135	83	𝐼𝑅𝑖𝑡	𝐼𝑅𝑖𝑡	PROPN
ajeer-7477	135	84	is	be	AUX
ajeer-7477	135	85	inflation	inflation	NOUN
ajeer-7477	135	86	rate	rate	NOUN
ajeer-7477	135	87	.	.	PUNCT
ajeer-7477	136	1	the	the	DET
ajeer-7477	136	2	term	term	NOUN
ajeer-7477	136	3	𝛼0	𝛼0	PROPN
ajeer-7477	136	4	represents	represent	VERB
ajeer-7477	136	5	a	a	DET
ajeer-7477	136	6	distinct	distinct	ADJ
ajeer-7477	136	7	fixed	fix	VERB
ajeer-7477	136	8	effect	effect	NOUN
ajeer-7477	136	9	,	,	PUNCT
ajeer-7477	136	10	while	while	SCONJ
ajeer-7477	136	11	𝜀𝑖𝑡	𝜀𝑖𝑡	PROPN
ajeer-7477	136	12	follows	follow	VERB
ajeer-7477	136	13	an	an	DET
ajeer-7477	136	14	independent	independent	ADJ
ajeer-7477	136	15	and	and	CCONJ
ajeer-7477	136	16	identical	identical	ADJ
ajeer-7477	136	17	distribution	distribution	NOUN
ajeer-7477	136	18	with	with	ADP
ajeer-7477	136	19	a	a	DET
ajeer-7477	136	20	mean	mean	NOUN
ajeer-7477	136	21	of	of	ADP
ajeer-7477	136	22	zero	zero	NUM
ajeer-7477	136	23	and	and	CCONJ
ajeer-7477	136	24	variance	variance	NOUN
ajeer-7477	136	25	σ²	σ²	NOUN
ajeer-7477	136	26	.	.	PUNCT
ajeer-7477	137	1	details	detail	NOUN
ajeer-7477	137	2	of	of	ADP
ajeer-7477	137	3	the	the	DET
ajeer-7477	137	4	variables	variable	NOUN
ajeer-7477	137	5	,	,	PUNCT
ajeer-7477	137	6	their	their	PRON
ajeer-7477	137	7	notations	notation	NOUN
ajeer-7477	137	8	and	and	CCONJ
ajeer-7477	137	9	sources	source	NOUN
ajeer-7477	137	10	are	be	AUX
ajeer-7477	137	11	given	give	VERB
ajeer-7477	137	12	in	in	ADP
ajeer-7477	137	13	table	table	NOUN
ajeer-7477	137	14	1	1	NUM
ajeer-7477	137	15	.	.	PUNCT
ajeer-7477	137	16	to	to	PART
ajeer-7477	137	17	examine	examine	VERB
ajeer-7477	137	18	the	the	DET
ajeer-7477	137	19	non	non	ADJ
ajeer-7477	137	20	-	-	ADJ
ajeer-7477	137	21	linear	linear	ADJ
ajeer-7477	137	22	connection	connection	NOUN
ajeer-7477	137	23	between	between	ADP
ajeer-7477	137	24	financial	financial	ADJ
ajeer-7477	137	25	development	development	NOUN
ajeer-7477	137	26	and	and	CCONJ
ajeer-7477	137	27	economic	economic	ADJ
ajeer-7477	137	28	growth	growth	NOUN
ajeer-7477	137	29	,	,	PUNCT
ajeer-7477	137	30	and	and	CCONJ
ajeer-7477	137	31	how	how	SCONJ
ajeer-7477	137	32	financial	financial	ADJ
ajeer-7477	137	33	openness	openness	NOUN
ajeer-7477	137	34	influences	influence	VERB
ajeer-7477	137	35	this	this	DET
ajeer-7477	137	36	relationship	relationship	NOUN
ajeer-7477	137	37	,	,	PUNCT
ajeer-7477	137	38	equation	equation	NOUN
ajeer-7477	137	39	2	2	NUM
ajeer-7477	137	40	is	be	AUX
ajeer-7477	137	41	applied	apply	VERB
ajeer-7477	137	42	.	.	PUNCT
ajeer-7477	138	1	this	this	DET
ajeer-7477	138	2	equation	equation	NOUN
ajeer-7477	138	3	incorporates	incorporate	VERB
ajeer-7477	138	4	a	a	DET
ajeer-7477	138	5	squared	squared	ADJ
ajeer-7477	138	6	term	term	NOUN
ajeer-7477	138	7	of	of	ADP
ajeer-7477	138	8	financial	financial	ADJ
ajeer-7477	138	9	development	development	NOUN
ajeer-7477	138	10	,	,	PUNCT
ajeer-7477	138	11	multiplied	multiply	VERB
ajeer-7477	138	12	by	by	ADP
ajeer-7477	138	13	financial	financial	ADJ
ajeer-7477	138	14	openness	openness	NOUN
ajeer-7477	138	15	,	,	PUNCT
ajeer-7477	138	16	together	together	ADV
ajeer-7477	138	17	with	with	ADP
ajeer-7477	138	18	control	control	NOUN
ajeer-7477	138	19	variables	variable	NOUN
ajeer-7477	138	20	.	.	PUNCT
ajeer-7477	139	1	if	if	SCONJ
ajeer-7477	139	2	the	the	DET
ajeer-7477	139	3	square	square	ADJ
ajeer-7477	139	4	term	term	NOUN
ajeer-7477	139	5	of	of	ADP
ajeer-7477	139	6	financial	financial	ADJ
ajeer-7477	139	7	development	development	NOUN
ajeer-7477	139	8	multiplied	multiply	VERB
ajeer-7477	139	9	by	by	ADP
ajeer-7477	139	10	financial	financial	ADJ
ajeer-7477	139	11	openness	openness	NOUN
ajeer-7477	139	12	’s	’s	PART
ajeer-7477	139	13	coefficient	coefficient	NOUN
ajeer-7477	139	14	is	be	AUX
ajeer-7477	139	15	significant	significant	ADJ
ajeer-7477	139	16	,	,	PUNCT
ajeer-7477	139	17	it	it	PRON
ajeer-7477	139	18	means	mean	VERB
ajeer-7477	139	19	financial	financial	ADJ
ajeer-7477	139	20	openness	openness	NOUN
ajeer-7477	139	21	has	have	VERB
ajeer-7477	139	22	a	a	DET
ajeer-7477	139	23	threshold	threshold	NOUN
ajeer-7477	139	24	effect	effect	NOUN
ajeer-7477	139	25	,	,	PUNCT
ajeer-7477	139	26	indicating	indicate	VERB
ajeer-7477	139	27	that	that	SCONJ
ajeer-7477	139	28	the	the	DET
ajeer-7477	139	29	impact	impact	NOUN
ajeer-7477	139	30	of	of	ADP
ajeer-7477	139	31	financial	financial	ADJ
ajeer-7477	139	32	development	development	NOUN
ajeer-7477	139	33	on	on	ADP
ajeer-7477	139	34	economic	economic	ADJ
ajeer-7477	139	35	growth	growth	NOUN
ajeer-7477	139	36	is	be	AUX
ajeer-7477	139	37	not	not	PART
ajeer-7477	139	38	linear	linear	ADJ
ajeer-7477	139	39	.	.	PUNCT
ajeer-7477	140	1	𝑃𝐺𝐷𝑃𝑖𝑡	𝑃𝐺𝐷𝑃𝑖𝑡	PROPN
ajeer-7477	140	2	=	=	SYM
ajeer-7477	140	3	𝛼0	𝛼0	PROPN
ajeer-7477	140	4	+	+	CCONJ
ajeer-7477	140	5	𝛽1𝐹𝐷𝑖𝑡	𝛽1𝐹𝐷𝑖𝑡	PROPN
ajeer-7477	140	6	2𝐹𝑂𝑖𝑡	2𝐹𝑂𝑖𝑡	NUM
ajeer-7477	140	7	+	+	SYM
ajeer-7477	140	8	𝛽2𝑙𝑛𝐺𝑜𝑣𝐸𝑥𝑝𝑖𝑡	𝛽2𝑙𝑛𝐺𝑜𝑣𝐸𝑥𝑝𝑖𝑡	VERB
ajeer-7477	140	9	+	+	ADJ
ajeer-7477	140	10	𝛽3𝑙𝑛𝑇𝐸𝐼𝑖𝑡	𝛽3𝑙𝑛𝑇𝐸𝐼𝑖𝑡	PROPN
ajeer-7477	140	11	+	+	CCONJ
ajeer-7477	140	12	𝛽4𝑙𝑛𝐸𝑅𝐻𝐸𝑖𝑡	𝛽4𝑙𝑛𝐸𝑅𝐻𝐸𝑖𝑡	PROPN
ajeer-7477	140	13	+	+	CCONJ
ajeer-7477	140	14	𝛽5	𝛽5	PROPN
ajeer-7477	140	15	𝑙𝑛𝐼𝑅𝑖𝑡	𝑙𝑛𝐼𝑅𝑖𝑡	PUNCT
ajeer-7477	141	1	+	+	PUNCT
ajeer-7477	142	1	𝛽6𝑙𝑛𝐹𝐴𝐼	𝛽6𝑙𝑛𝐹𝐴𝐼	PUNCT
ajeer-7477	142	2	+	+	NUM
ajeer-7477	142	3	𝜀𝑖𝑡	𝜀𝑖𝑡	VERB
ajeer-7477	142	4	(	(	PUNCT
ajeer-7477	142	5	2	2	NUM
ajeer-7477	142	6	)	)	PUNCT
ajeer-7477	142	7	asian	asian	ADJ
ajeer-7477	142	8	journal	journal	NOUN
ajeer-7477	142	9	of	of	ADP
ajeer-7477	142	10	economics	economic	NOUN
ajeer-7477	142	11	and	and	CCONJ
ajeer-7477	142	12	empirical	empirical	ADJ
ajeer-7477	142	13	research	research	NOUN
ajeer-7477	142	14	,	,	PUNCT
ajeer-7477	142	15	2025	2025	NUM
ajeer-7477	142	16	,	,	PUNCT
ajeer-7477	142	17	12(2	12(2	NUM
ajeer-7477	142	18	):	):	PUNCT
ajeer-7477	142	19	104	104	NUM
ajeer-7477	142	20	-	-	SYM
ajeer-7477	142	21	112	112	NUM
ajeer-7477	142	22	108	108	NUM
ajeer-7477	142	23	©	©	PROPN
ajeer-7477	142	24	2025	2025	NUM
ajeer-7477	142	25	by	by	ADP
ajeer-7477	142	26	the	the	DET
ajeer-7477	142	27	authors	author	NOUN
ajeer-7477	142	28	;	;	PUNCT
ajeer-7477	142	29	licensee	licensee	PROPN
ajeer-7477	142	30	asian	asian	ADJ
ajeer-7477	142	31	online	online	PROPN
ajeer-7477	142	32	journal	journal	PROPN
ajeer-7477	142	33	publishing	publishing	NOUN
ajeer-7477	142	34	group	group	NOUN
ajeer-7477	142	35	considering	consider	VERB
ajeer-7477	142	36	fo	fo	INTJ
ajeer-7477	142	37	as	as	ADP
ajeer-7477	142	38	a	a	DET
ajeer-7477	142	39	threshold	threshold	NOUN
ajeer-7477	142	40	variable	variable	NOUN
ajeer-7477	142	41	,	,	PUNCT
ajeer-7477	142	42	the	the	DET
ajeer-7477	142	43	static	static	ADJ
ajeer-7477	142	44	threshold	threshold	NOUN
ajeer-7477	142	45	regression	regression	NOUN
ajeer-7477	142	46	model	model	NOUN
ajeer-7477	142	47	with	with	ADP
ajeer-7477	142	48	a	a	DET
ajeer-7477	142	49	single	single	ADJ
ajeer-7477	142	50	threshold	threshold	NOUN
ajeer-7477	142	51	adopted	adopt	VERB
ajeer-7477	142	52	in	in	ADP
ajeer-7477	142	53	this	this	DET
ajeer-7477	142	54	research	research	NOUN
ajeer-7477	142	55	is	be	AUX
ajeer-7477	142	56	:	:	PUNCT
ajeer-7477	142	57	𝑃𝐺𝐷𝑃𝑖𝑡	𝑃𝐺𝐷𝑃𝑖𝑡	PROPN
ajeer-7477	142	58	=	=	SYM
ajeer-7477	142	59	𝛼0	𝛼0	PROPN
ajeer-7477	142	60	+	+	CCONJ
ajeer-7477	142	61	𝛽1𝐹𝐷𝑖𝑡	𝛽1𝐹𝐷𝑖𝑡	PROPN
ajeer-7477	142	62	∙	∙	PROPN
ajeer-7477	142	63	𝐼(𝐹𝑂𝑖𝑡	𝐼(𝐹𝑂𝑖𝑡	PROPN
ajeer-7477	142	64	≤	≤	NUM
ajeer-7477	143	1	𝛾	𝛾	NOUN
ajeer-7477	143	2	)	)	PUNCT
ajeer-7477	143	3	+	+	CCONJ
ajeer-7477	143	4	𝛽2𝐹𝐷𝑖𝑡	𝛽2𝐹𝐷𝑖𝑡	ADJ
ajeer-7477	143	5	∙	∙	PROPN
ajeer-7477	143	6	𝐼(𝐹𝑂𝑖𝑡	𝐼(𝐹𝑂𝑖𝑡	PROPN
ajeer-7477	143	7	>	>	X
ajeer-7477	143	8	𝛾	𝛾	PROPN
ajeer-7477	143	9	)	)	PUNCT
ajeer-7477	143	10	+	+	CCONJ
ajeer-7477	143	11	𝛽3𝐺𝑜𝑣𝐸𝑥𝑝𝑖𝑡	𝛽3𝐺𝑜𝑣𝐸𝑥𝑝𝑖𝑡	ADJ
ajeer-7477	143	12	+	+	NUM
ajeer-7477	143	13	𝛽4𝑇𝐸𝐼𝑖𝑡	𝛽4𝑇𝐸𝐼𝑖𝑡	SYM
ajeer-7477	143	14	+	+	SYM
ajeer-7477	143	15	𝛽5𝐸𝑅𝐻𝐸𝑖𝑡	𝛽5𝐸𝑅𝐻𝐸𝑖𝑡	NOUN
ajeer-7477	143	16	+	+	X
ajeer-7477	143	17	𝛽6𝐼𝑅𝑖𝑡	𝛽6𝐼𝑅𝑖𝑡	X
ajeer-7477	143	18	+	+	CCONJ
ajeer-7477	143	19	𝛽7𝑙𝑛𝐹𝐴𝐼𝜀𝑖𝑡	𝛽7𝑙𝑛𝐹𝐴𝐼𝜀𝑖𝑡	ADJ
ajeer-7477	143	20	(	(	PUNCT
ajeer-7477	143	21	3	3	NUM
ajeer-7477	143	22	)	)	PUNCT
ajeer-7477	143	23	by	by	ADP
ajeer-7477	143	24	performing	perform	VERB
ajeer-7477	143	25	formulas	formula	NOUN
ajeer-7477	143	26	(	(	PUNCT
ajeer-7477	143	27	1	1	NUM
ajeer-7477	143	28	)	)	PUNCT
ajeer-7477	143	29	and	and	CCONJ
ajeer-7477	143	30	(	(	PUNCT
ajeer-7477	143	31	3	3	NUM
ajeer-7477	143	32	)	)	PUNCT
ajeer-7477	143	33	,	,	PUNCT
ajeer-7477	143	34	this	this	DET
ajeer-7477	143	35	study	study	NOUN
ajeer-7477	143	36	will	will	AUX
ajeer-7477	143	37	assess	assess	VERB
ajeer-7477	143	38	the	the	DET
ajeer-7477	143	39	influence	influence	NOUN
ajeer-7477	143	40	of	of	ADP
ajeer-7477	143	41	financial	financial	ADJ
ajeer-7477	143	42	development	development	NOUN
ajeer-7477	143	43	(	(	PUNCT
ajeer-7477	143	44	fd	fd	PROPN
ajeer-7477	143	45	)	)	PUNCT
ajeer-7477	143	46	on	on	ADP
ajeer-7477	143	47	economic	economic	ADJ
ajeer-7477	143	48	growth	growth	NOUN
ajeer-7477	143	49	through	through	ADP
ajeer-7477	143	50	the	the	DET
ajeer-7477	143	51	moderation	moderation	NOUN
ajeer-7477	143	52	of	of	ADP
ajeer-7477	143	53	financial	financial	ADJ
ajeer-7477	143	54	openness	openness	NOUN
ajeer-7477	143	55	across	across	ADP
ajeer-7477	143	56	the	the	DET
ajeer-7477	143	57	three	three	NUM
ajeer-7477	143	58	major	major	ADJ
ajeer-7477	143	59	urban	urban	ADJ
ajeer-7477	143	60	regions	region	NOUN
ajeer-7477	143	61	of	of	ADP
ajeer-7477	143	62	china	china	PROPN
ajeer-7477	143	63	.	.	PUNCT
ajeer-7477	144	1	table	table	NOUN
ajeer-7477	144	2	1	1	NUM
ajeer-7477	144	3	.	.	PUNCT
ajeer-7477	145	1	details	detail	NOUN
ajeer-7477	145	2	of	of	ADP
ajeer-7477	145	3	variables	variable	NOUN
ajeer-7477	145	4	,	,	PUNCT
ajeer-7477	145	5	notation	notation	NOUN
ajeer-7477	145	6	and	and	CCONJ
ajeer-7477	145	7	data	datum	NOUN
ajeer-7477	145	8	source	source	NOUN
ajeer-7477	145	9	.	.	PUNCT
ajeer-7477	146	1	variable	variable	ADJ
ajeer-7477	146	2	notation	notation	NOUN
ajeer-7477	146	3	description	description	NOUN
ajeer-7477	146	4	source	source	NOUN
ajeer-7477	146	5	financial	financial	ADJ
ajeer-7477	146	6	development	development	NOUN
ajeer-7477	146	7	fd	fd	PROPN
ajeer-7477	146	8	index	index	NOUN
ajeer-7477	146	9	developed	develop	VERB
ajeer-7477	146	10	through	through	ADP
ajeer-7477	146	11	entropy	entropy	NOUN
ajeer-7477	146	12	evaluation	evaluation	NOUN
ajeer-7477	146	13	by	by	ADP
ajeer-7477	146	14	using	use	VERB
ajeer-7477	146	15	lfin	lfin	NOUN
ajeer-7477	146	16	:	:	PUNCT
ajeer-7477	146	17	the	the	DET
ajeer-7477	146	18	total	total	ADJ
ajeer-7477	146	19	loans	loan	NOUN
ajeer-7477	146	20	in	in	ADP
ajeer-7477	146	21	the	the	DET
ajeer-7477	146	22	financial	financial	ADJ
ajeer-7477	146	23	system	system	NOUN
ajeer-7477	146	24	.	.	PUNCT
ajeer-7477	147	1	sfm	sfm	NOUN
ajeer-7477	147	2	:	:	PUNCT
ajeer-7477	147	3	securities	security	NOUN
ajeer-7477	147	4	fund	fund	PROPN
ajeer-7477	147	5	management	management	NOUN
ajeer-7477	147	6	gp	gp	NOUN
ajeer-7477	147	7	:	:	PUNCT
ajeer-7477	147	8	gross	gross	ADJ
ajeer-7477	147	9	premiums	premium	NOUN
ajeer-7477	147	10	china	china	PROPN
ajeer-7477	147	11	city	city	PROPN
ajeer-7477	147	12	statistical	statistical	ADJ
ajeer-7477	147	13	yearbook	yearbook	NOUN
ajeer-7477	147	14	financial	financial	ADJ
ajeer-7477	147	15	openness	openness	NOUN
ajeer-7477	147	16	fo	fo	ADP
ajeer-7477	147	17	proxy	proxy	NOUN
ajeer-7477	147	18	by	by	ADP
ajeer-7477	147	19	foreign	foreign	ADJ
ajeer-7477	147	20	direct	direct	ADJ
ajeer-7477	147	21	investment	investment	NOUN
ajeer-7477	147	22	logarithmic	logarithmic	NOUN
ajeer-7477	147	23	transformed	transform	VERB
ajeer-7477	147	24	china	china	PROPN
ajeer-7477	147	25	financial	financial	PROPN
ajeer-7477	147	26	yearbook	yearbook	NOUN
ajeer-7477	147	27	economic	economic	ADJ
ajeer-7477	147	28	growth	growth	NOUN
ajeer-7477	147	29	pgdp	pgdp	NOUN
ajeer-7477	147	30	per	per	ADP
ajeer-7477	147	31	capita	capita	X
ajeer-7477	147	32	gdp	gdp	NOUN
ajeer-7477	147	33	provincial	provincial	ADJ
ajeer-7477	147	34	statistical	statistical	ADJ
ajeer-7477	147	35	yearbook	yearbook	NOUN
ajeer-7477	147	36	government	government	NOUN
ajeer-7477	147	37	expenditure	expenditure	NOUN
ajeer-7477	147	38	govexp	govexp	PROPN
ajeer-7477	147	39	logarithmic	logarithmic	ADJ
ajeer-7477	147	40	transformation	transformation	NOUN
ajeer-7477	147	41	of	of	ADP
ajeer-7477	147	42	government	government	NOUN
ajeer-7477	147	43	expenditures	expenditure	NOUN
ajeer-7477	147	44	china	china	PROPN
ajeer-7477	147	45	city	city	PROPN
ajeer-7477	147	46	statistical	statistical	ADJ
ajeer-7477	147	47	yearbook	yearbook	NOUN
ajeer-7477	147	48	,	,	PUNCT
ajeer-7477	147	49	the	the	DET
ajeer-7477	147	50	china	china	PROPN
ajeer-7477	147	51	financial	financial	PROPN
ajeer-7477	147	52	yearbook	yearbook	NOUN
ajeer-7477	147	53	,	,	PUNCT
ajeer-7477	147	54	the	the	DET
ajeer-7477	147	55	provincial	provincial	ADJ
ajeer-7477	147	56	statistical	statistical	ADJ
ajeer-7477	147	57	yearbook	yearbook	NOUN
ajeer-7477	147	58	trade	trade	NOUN
ajeer-7477	147	59	volume	volume	NOUN
ajeer-7477	147	60	tei	tei	NOUN
ajeer-7477	147	61	sum	sum	NOUN
ajeer-7477	147	62	of	of	ADP
ajeer-7477	147	63	exports	export	NOUN
ajeer-7477	147	64	and	and	CCONJ
ajeer-7477	147	65	imports	import	NOUN
ajeer-7477	147	66	logarithmic	logarithmic	ADJ
ajeer-7477	147	67	transformation	transformation	NOUN
ajeer-7477	147	68	china	china	PROPN
ajeer-7477	147	69	city	city	PROPN
ajeer-7477	147	70	statistical	statistical	ADJ
ajeer-7477	147	71	yearbook	yearbook	NOUN
ajeer-7477	147	72	,	,	PUNCT
ajeer-7477	147	73	the	the	DET
ajeer-7477	147	74	china	china	PROPN
ajeer-7477	147	75	financial	financial	PROPN
ajeer-7477	147	76	yearbook	yearbook	NOUN
ajeer-7477	147	77	,	,	PUNCT
ajeer-7477	147	78	the	the	DET
ajeer-7477	147	79	provincial	provincial	ADJ
ajeer-7477	147	80	statistical	statistical	ADJ
ajeer-7477	147	81	yearbook	yearbook	NOUN
ajeer-7477	147	82	human	human	PROPN
ajeer-7477	147	83	capital	capital	PROPN
ajeer-7477	147	84	erhe	erhe	NOUN
ajeer-7477	147	85	enrollment	enrollment	NOUN
ajeer-7477	147	86	ratio	ratio	NOUN
ajeer-7477	147	87	in	in	ADP
ajeer-7477	147	88	higher	high	ADJ
ajeer-7477	147	89	education	education	NOUN
ajeer-7477	147	90	,	,	PUNCT
ajeer-7477	147	91	logarithmic	logarithmic	ADJ
ajeer-7477	147	92	transformation	transformation	NOUN
ajeer-7477	147	93	china	china	PROPN
ajeer-7477	147	94	city	city	PROPN
ajeer-7477	147	95	statistical	statistical	ADJ
ajeer-7477	147	96	yearbook	yearbook	NOUN
ajeer-7477	147	97	,	,	PUNCT
ajeer-7477	147	98	the	the	DET
ajeer-7477	147	99	china	china	PROPN
ajeer-7477	147	100	financial	financial	PROPN
ajeer-7477	147	101	yearbook	yearbook	NOUN
ajeer-7477	147	102	,	,	PUNCT
ajeer-7477	147	103	the	the	DET
ajeer-7477	147	104	provincial	provincial	ADJ
ajeer-7477	147	105	statistical	statistical	ADJ
ajeer-7477	147	106	yearbook	yearbook	NOUN
ajeer-7477	147	107	inflation	inflation	NOUN
ajeer-7477	147	108	ir	ir	PROPN
ajeer-7477	147	109	inflation	inflation	NOUN
ajeer-7477	147	110	rate	rate	NOUN
ajeer-7477	147	111	logarithmic	logarithmic	ADJ
ajeer-7477	147	112	transformation	transformation	NOUN
ajeer-7477	147	113	china	china	PROPN
ajeer-7477	147	114	city	city	PROPN
ajeer-7477	147	115	statistical	statistical	ADJ
ajeer-7477	147	116	yearbook	yearbook	NOUN
ajeer-7477	147	117	,	,	PUNCT
ajeer-7477	147	118	the	the	DET
ajeer-7477	147	119	china	china	PROPN
ajeer-7477	147	120	financial	financial	PROPN
ajeer-7477	147	121	yearbook	yearbook	NOUN
ajeer-7477	147	122	,	,	PUNCT
ajeer-7477	147	123	the	the	DET
ajeer-7477	147	124	provincial	provincial	ADJ
ajeer-7477	147	125	statistical	statistical	ADJ
ajeer-7477	147	126	yearbook	yearbook	NOUN
ajeer-7477	147	127	physical	physical	ADJ
ajeer-7477	147	128	capital	capital	NOUN
ajeer-7477	147	129	fai	fai	X
ajeer-7477	147	130	fixed	fix	VERB
ajeer-7477	147	131	assets	asset	NOUN
ajeer-7477	147	132	investment	investment	NOUN
ajeer-7477	147	133	logarithmic	logarithmic	ADJ
ajeer-7477	147	134	transformation	transformation	NOUN
ajeer-7477	147	135	china	china	PROPN
ajeer-7477	147	136	city	city	PROPN
ajeer-7477	147	137	statistical	statistical	ADJ
ajeer-7477	147	138	yearbook	yearbook	NOUN
ajeer-7477	147	139	,	,	PUNCT
ajeer-7477	147	140	the	the	DET
ajeer-7477	147	141	china	china	PROPN
ajeer-7477	147	142	financial	financial	PROPN
ajeer-7477	147	143	yearbook	yearbook	NOUN
ajeer-7477	147	144	,	,	PUNCT
ajeer-7477	147	145	the	the	DET
ajeer-7477	147	146	provincial	provincial	ADJ
ajeer-7477	147	147	statistical	statistical	ADJ
ajeer-7477	147	148	yearbook	yearbook	NOUN
ajeer-7477	147	149	3.3	3.3	NUM
ajeer-7477	147	150	.	.	PUNCT
ajeer-7477	148	1	conceptual	conceptual	ADJ
ajeer-7477	148	2	framework	framework	NOUN
ajeer-7477	148	3	the	the	DET
ajeer-7477	148	4	conceptual	conceptual	ADJ
ajeer-7477	148	5	framework	framework	NOUN
ajeer-7477	148	6	of	of	ADP
ajeer-7477	148	7	the	the	DET
ajeer-7477	148	8	research	research	NOUN
ajeer-7477	148	9	is	be	AUX
ajeer-7477	148	10	given	give	VERB
ajeer-7477	148	11	in	in	ADP
ajeer-7477	148	12	figure	figure	NOUN
ajeer-7477	148	13	1	1	NUM
ajeer-7477	148	14	.	.	PUNCT
ajeer-7477	149	1	it	it	PRON
ajeer-7477	149	2	shows	show	VERB
ajeer-7477	149	3	that	that	SCONJ
ajeer-7477	149	4	the	the	DET
ajeer-7477	149	5	dependent	dependent	ADJ
ajeer-7477	149	6	variable	variable	NOUN
ajeer-7477	149	7	is	be	AUX
ajeer-7477	149	8	economic	economic	ADJ
ajeer-7477	149	9	growth	growth	NOUN
ajeer-7477	149	10	,	,	PUNCT
ajeer-7477	149	11	while	while	SCONJ
ajeer-7477	149	12	the	the	DET
ajeer-7477	149	13	main	main	ADJ
ajeer-7477	149	14	variable	variable	NOUN
ajeer-7477	149	15	of	of	ADP
ajeer-7477	149	16	interest	interest	NOUN
ajeer-7477	149	17	is	be	AUX
ajeer-7477	149	18	financial	financial	ADJ
ajeer-7477	149	19	development	development	NOUN
ajeer-7477	149	20	.	.	PUNCT
ajeer-7477	150	1	however	however	ADV
ajeer-7477	150	2	,	,	PUNCT
ajeer-7477	150	3	the	the	DET
ajeer-7477	150	4	threshold	threshold	NOUN
ajeer-7477	150	5	variable	variable	NOUN
ajeer-7477	150	6	here	here	ADV
ajeer-7477	150	7	is	be	AUX
ajeer-7477	150	8	financial	financial	ADJ
ajeer-7477	150	9	openness	openness	NOUN
ajeer-7477	150	10	.	.	PUNCT
ajeer-7477	151	1	the	the	DET
ajeer-7477	151	2	control	control	NOUN
ajeer-7477	151	3	variables	variable	NOUN
ajeer-7477	151	4	include	include	VERB
ajeer-7477	151	5	trade	trade	NOUN
ajeer-7477	151	6	openness	openness	NOUN
ajeer-7477	151	7	,	,	PUNCT
ajeer-7477	151	8	government	government	NOUN
ajeer-7477	151	9	expenditures	expenditure	NOUN
ajeer-7477	151	10	,	,	PUNCT
ajeer-7477	151	11	inflation	inflation	NOUN
ajeer-7477	151	12	rate	rate	NOUN
ajeer-7477	151	13	,	,	PUNCT
ajeer-7477	151	14	fixed	fix	VERB
ajeer-7477	151	15	assets	asset	NOUN
ajeer-7477	151	16	investment	investment	NOUN
ajeer-7477	151	17	,	,	PUNCT
ajeer-7477	151	18	and	and	CCONJ
ajeer-7477	151	19	enrollment	enrollment	NOUN
ajeer-7477	151	20	ratio	ratio	NOUN
ajeer-7477	151	21	in	in	ADP
ajeer-7477	151	22	higher	high	ADJ
ajeer-7477	151	23	education	education	NOUN
ajeer-7477	151	24	.	.	PUNCT
ajeer-7477	152	1	financial	financial	ADJ
ajeer-7477	152	2	development	development	NOUN
ajeer-7477	152	3	is	be	AUX
ajeer-7477	152	4	expected	expect	VERB
ajeer-7477	152	5	to	to	PART
ajeer-7477	152	6	have	have	VERB
ajeer-7477	152	7	a	a	DET
ajeer-7477	152	8	nonlinear	nonlinear	ADJ
ajeer-7477	152	9	influence	influence	NOUN
ajeer-7477	152	10	via	via	ADP
ajeer-7477	152	11	financial	financial	ADJ
ajeer-7477	152	12	openness	openness	NOUN
ajeer-7477	152	13	on	on	ADP
ajeer-7477	152	14	economic	economic	ADJ
ajeer-7477	152	15	growth	growth	NOUN
ajeer-7477	152	16	.	.	PUNCT
ajeer-7477	153	1	the	the	DET
ajeer-7477	153	2	trade	trade	NOUN
ajeer-7477	153	3	volume	volume	NOUN
ajeer-7477	153	4	,	,	PUNCT
ajeer-7477	153	5	government	government	NOUN
ajeer-7477	153	6	expenditures	expenditure	NOUN
ajeer-7477	153	7	,	,	PUNCT
ajeer-7477	153	8	fixed	fix	VERB
ajeer-7477	153	9	assets	asset	NOUN
ajeer-7477	153	10	investment	investment	NOUN
ajeer-7477	153	11	,	,	PUNCT
ajeer-7477	153	12	and	and	CCONJ
ajeer-7477	153	13	gross	gross	ADJ
ajeer-7477	153	14	enrollment	enrollment	NOUN
ajeer-7477	153	15	ratio	ratio	NOUN
ajeer-7477	153	16	are	be	AUX
ajeer-7477	153	17	expected	expect	VERB
ajeer-7477	153	18	to	to	PART
ajeer-7477	153	19	have	have	VERB
ajeer-7477	153	20	positive	positive	ADJ
ajeer-7477	153	21	effects	effect	NOUN
ajeer-7477	153	22	on	on	ADP
ajeer-7477	153	23	economic	economic	ADJ
ajeer-7477	153	24	growth	growth	NOUN
ajeer-7477	153	25	.	.	PUNCT
ajeer-7477	154	1	however	however	ADV
ajeer-7477	154	2	,	,	PUNCT
ajeer-7477	154	3	the	the	DET
ajeer-7477	154	4	inflation	inflation	NOUN
ajeer-7477	154	5	rate	rate	NOUN
ajeer-7477	154	6	is	be	AUX
ajeer-7477	154	7	expected	expect	VERB
ajeer-7477	154	8	to	to	PART
ajeer-7477	154	9	have	have	VERB
ajeer-7477	154	10	negative	negative	ADJ
ajeer-7477	154	11	impacts	impact	NOUN
ajeer-7477	154	12	on	on	ADP
ajeer-7477	154	13	economic	economic	ADJ
ajeer-7477	154	14	growth	growth	NOUN
ajeer-7477	154	15	.	.	PUNCT
ajeer-7477	155	1	figure	figure	NOUN
ajeer-7477	155	2	1	1	NUM
ajeer-7477	155	3	.	.	PUNCT
ajeer-7477	155	4	conceptual	conceptual	ADJ
ajeer-7477	155	5	framework	framework	NOUN
ajeer-7477	155	6	.	.	PUNCT
ajeer-7477	156	1	3.4	3.4	NUM
ajeer-7477	156	2	.	.	PUNCT
ajeer-7477	156	3	hypothesis	hypothesis	NOUN
ajeer-7477	156	4	1	1	NUM
ajeer-7477	156	5	.	.	PUNCT
ajeer-7477	156	6	financial	financial	ADJ
ajeer-7477	156	7	development	development	NOUN
ajeer-7477	156	8	and	and	CCONJ
ajeer-7477	156	9	economic	economic	ADJ
ajeer-7477	156	10	growth	growth	NOUN
ajeer-7477	156	11	have	have	VERB
ajeer-7477	156	12	a	a	DET
ajeer-7477	156	13	nonlinear	nonlinear	ADJ
ajeer-7477	156	14	relationship	relationship	NOUN
ajeer-7477	156	15	.	.	PUNCT
ajeer-7477	157	1	2	2	X
ajeer-7477	157	2	.	.	X
ajeer-7477	157	3	financial	financial	ADJ
ajeer-7477	157	4	openness	openness	NOUN
ajeer-7477	157	5	moderates	moderate	VERB
ajeer-7477	157	6	the	the	DET
ajeer-7477	157	7	intricate	intricate	ADJ
ajeer-7477	157	8	relationship	relationship	NOUN
ajeer-7477	157	9	between	between	ADP
ajeer-7477	157	10	financial	financial	ADJ
ajeer-7477	157	11	development	development	NOUN
ajeer-7477	157	12	and	and	CCONJ
ajeer-7477	157	13	economic	economic	ADJ
ajeer-7477	157	14	growth	growth	NOUN
ajeer-7477	157	15	.	.	PUNCT
ajeer-7477	158	1	3	3	X
ajeer-7477	158	2	.	.	X
ajeer-7477	158	3	the	the	DET
ajeer-7477	158	4	impacts	impact	NOUN
ajeer-7477	158	5	of	of	ADP
ajeer-7477	158	6	financial	financial	ADJ
ajeer-7477	158	7	development	development	NOUN
ajeer-7477	158	8	on	on	ADP
ajeer-7477	158	9	economic	economic	ADJ
ajeer-7477	158	10	growth	growth	NOUN
ajeer-7477	158	11	vary	vary	VERB
ajeer-7477	158	12	at	at	ADP
ajeer-7477	158	13	different	different	ADJ
ajeer-7477	158	14	levels	level	NOUN
ajeer-7477	158	15	of	of	ADP
ajeer-7477	158	16	financial	financial	ADJ
ajeer-7477	158	17	openness	openness	NOUN
ajeer-7477	158	18	.	.	PUNCT
ajeer-7477	159	1	4	4	X
ajeer-7477	159	2	.	.	NOUN
ajeer-7477	159	3	results	result	VERB
ajeer-7477	159	4	discussion	discussion	NOUN
ajeer-7477	159	5	4.1	4.1	NUM
ajeer-7477	159	6	.	.	PUNCT
ajeer-7477	160	1	descriptive	descriptive	ADJ
ajeer-7477	160	2	statistics	statistic	NOUN
ajeer-7477	160	3	the	the	DET
ajeer-7477	160	4	table	table	NOUN
ajeer-7477	160	5	2	2	NUM
ajeer-7477	160	6	presents	present	VERB
ajeer-7477	160	7	descriptive	descriptive	ADJ
ajeer-7477	160	8	statistics	statistic	NOUN
ajeer-7477	160	9	for	for	ADP
ajeer-7477	160	10	eight	eight	NUM
ajeer-7477	160	11	variables	variable	NOUN
ajeer-7477	160	12	across	across	ADP
ajeer-7477	160	13	270	270	NUM
ajeer-7477	160	14	observations	observation	NOUN
ajeer-7477	160	15	,	,	PUNCT
ajeer-7477	160	16	offering	offer	VERB
ajeer-7477	160	17	insights	insight	NOUN
ajeer-7477	160	18	into	into	ADP
ajeer-7477	160	19	their	their	PRON
ajeer-7477	160	20	central	central	ADJ
ajeer-7477	160	21	tendencies	tendency	NOUN
ajeer-7477	160	22	and	and	CCONJ
ajeer-7477	160	23	dispersion	dispersion	NOUN
ajeer-7477	160	24	.	.	PUNCT
ajeer-7477	161	1	the	the	DET
ajeer-7477	161	2	log	log	NOUN
ajeer-7477	161	3	of	of	ADP
ajeer-7477	161	4	per	per	ADP
ajeer-7477	161	5	capita	capita	X
ajeer-7477	161	6	gdp	gdp	NOUN
ajeer-7477	161	7	(	(	PUNCT
ajeer-7477	161	8	lmgdp	lmgdp	NOUN
ajeer-7477	161	9	)	)	PUNCT
ajeer-7477	161	10	has	have	VERB
ajeer-7477	161	11	a	a	DET
ajeer-7477	161	12	mean	mean	NOUN
ajeer-7477	161	13	of	of	ADP
ajeer-7477	161	14	8.777	8.777	NUM
ajeer-7477	161	15	and	and	CCONJ
ajeer-7477	161	16	ranges	range	VERB
ajeer-7477	161	17	from	from	ADP
ajeer-7477	161	18	5.935	5.935	NUM
ajeer-7477	161	19	to	to	ADP
ajeer-7477	161	20	11.888	11.888	NUM
ajeer-7477	161	21	,	,	PUNCT
ajeer-7477	161	22	showing	show	VERB
ajeer-7477	161	23	a	a	DET
ajeer-7477	161	24	slightly	slightly	ADV
ajeer-7477	161	25	left	left	ADJ
ajeer-7477	161	26	-	-	PUNCT
ajeer-7477	161	27	skewed	skew	VERB
ajeer-7477	161	28	distribution	distribution	NOUN
ajeer-7477	161	29	(	(	PUNCT
ajeer-7477	161	30	skew	skew	NOUN
ajeer-7477	161	31	=	=	SYM
ajeer-7477	161	32	–	–	PUNCT
ajeer-7477	161	33	0.152	0.152	NUM
ajeer-7477	161	34	)	)	PUNCT
ajeer-7477	161	35	and	and	CCONJ
ajeer-7477	161	36	a	a	DET
ajeer-7477	161	37	kurtosis	kurtosis	NOUN
ajeer-7477	161	38	of	of	ADP
ajeer-7477	161	39	2.221	2.221	NUM
ajeer-7477	161	40	,	,	PUNCT
ajeer-7477	161	41	indicating	indicate	VERB
ajeer-7477	161	42	a	a	DET
ajeer-7477	161	43	relatively	relatively	ADV
ajeer-7477	161	44	flat	flat	ADJ
ajeer-7477	161	45	curve	curve	NOUN
ajeer-7477	161	46	.	.	PUNCT
ajeer-7477	162	1	financial	financial	ADJ
ajeer-7477	162	2	openness	openness	NOUN
ajeer-7477	162	3	(	(	PUNCT
ajeer-7477	162	4	fo	fo	NOUN
ajeer-7477	162	5	)	)	PUNCT
ajeer-7477	162	6	averages	average	NOUN
ajeer-7477	162	7	4.409	4.409	NUM
ajeer-7477	162	8	,	,	PUNCT
ajeer-7477	162	9	but	but	CCONJ
ajeer-7477	162	10	with	with	ADP
ajeer-7477	162	11	a	a	DET
ajeer-7477	162	12	standard	standard	ADJ
ajeer-7477	162	13	deviation	deviation	NOUN
ajeer-7477	162	14	of	of	ADP
ajeer-7477	162	15	2.170	2.170	NUM
ajeer-7477	162	16	and	and	CCONJ
ajeer-7477	162	17	values	value	NOUN
ajeer-7477	162	18	stretching	stretch	VERB
ajeer-7477	162	19	from	from	ADP
ajeer-7477	162	20	asian	asian	ADJ
ajeer-7477	162	21	journal	journal	PROPN
ajeer-7477	162	22	of	of	ADP
ajeer-7477	162	23	economics	economic	NOUN
ajeer-7477	162	24	and	and	CCONJ
ajeer-7477	162	25	empirical	empirical	ADJ
ajeer-7477	162	26	research	research	NOUN
ajeer-7477	162	27	,	,	PUNCT
ajeer-7477	162	28	2025	2025	NUM
ajeer-7477	162	29	,	,	PUNCT
ajeer-7477	162	30	12(2	12(2	NUM
ajeer-7477	162	31	):	):	PUNCT
ajeer-7477	162	32	104	104	NUM
ajeer-7477	162	33	-	-	SYM
ajeer-7477	162	34	112	112	NUM
ajeer-7477	162	35	109	109	NUM
ajeer-7477	162	36	©	©	PROPN
ajeer-7477	162	37	2025	2025	NUM
ajeer-7477	162	38	by	by	ADP
ajeer-7477	162	39	the	the	DET
ajeer-7477	162	40	authors	author	NOUN
ajeer-7477	162	41	;	;	PUNCT
ajeer-7477	162	42	licensee	licensee	PROPN
ajeer-7477	162	43	asian	asian	ADJ
ajeer-7477	162	44	online	online	PROPN
ajeer-7477	162	45	journal	journal	PROPN
ajeer-7477	162	46	publishing	publishing	NOUN
ajeer-7477	162	47	group	group	NOUN
ajeer-7477	162	48	–	–	PUNCT
ajeer-7477	162	49	4.841	4.841	NUM
ajeer-7477	162	50	to	to	ADP
ajeer-7477	162	51	9.592	9.592	NUM
ajeer-7477	162	52	,	,	PUNCT
ajeer-7477	162	53	it	it	PRON
ajeer-7477	162	54	displays	display	VERB
ajeer-7477	162	55	pronounced	pronounce	VERB
ajeer-7477	162	56	variability	variability	NOUN
ajeer-7477	162	57	and	and	CCONJ
ajeer-7477	162	58	negative	negative	ADJ
ajeer-7477	162	59	skewness	skewness	NOUN
ajeer-7477	162	60	(	(	PUNCT
ajeer-7477	162	61	–	–	PUNCT
ajeer-7477	162	62	0.705	0.705	NUM
ajeer-7477	162	63	)	)	PUNCT
ajeer-7477	162	64	.	.	PUNCT
ajeer-7477	163	1	the	the	DET
ajeer-7477	163	2	financial	financial	PROPN
ajeer-7477	163	3	development	development	PROPN
ajeer-7477	163	4	index	index	NOUN
ajeer-7477	163	5	(	(	PUNCT
ajeer-7477	163	6	e_fd	e_fd	PROPN
ajeer-7477	163	7	)	)	PUNCT
ajeer-7477	163	8	records	record	VERB
ajeer-7477	163	9	a	a	DET
ajeer-7477	163	10	mean	mean	NOUN
ajeer-7477	163	11	of	of	ADP
ajeer-7477	163	12	6.758	6.758	NUM
ajeer-7477	163	13	and	and	CCONJ
ajeer-7477	163	14	is	be	AUX
ajeer-7477	163	15	nearly	nearly	ADV
ajeer-7477	163	16	symmetric	symmetric	ADJ
ajeer-7477	163	17	(	(	PUNCT
ajeer-7477	163	18	skew	skew	NOUN
ajeer-7477	163	19	=	=	SYM
ajeer-7477	163	20	–	–	PUNCT
ajeer-7477	163	21	0.137	0.137	NUM
ajeer-7477	163	22	)	)	PUNCT
ajeer-7477	163	23	,	,	PUNCT
ajeer-7477	163	24	while	while	SCONJ
ajeer-7477	163	25	the	the	DET
ajeer-7477	163	26	log	log	NOUN
ajeer-7477	163	27	of	of	ADP
ajeer-7477	163	28	total	total	ADJ
ajeer-7477	163	29	exports	export	NOUN
ajeer-7477	163	30	and	and	CCONJ
ajeer-7477	163	31	imports	import	NOUN
ajeer-7477	163	32	(	(	PUNCT
ajeer-7477	163	33	lntei	lntei	NOUN
ajeer-7477	163	34	)	)	PUNCT
ajeer-7477	163	35	used	use	VERB
ajeer-7477	163	36	here	here	ADV
ajeer-7477	163	37	as	as	ADP
ajeer-7477	163	38	a	a	DET
ajeer-7477	163	39	proxy	proxy	NOUN
ajeer-7477	163	40	for	for	ADP
ajeer-7477	163	41	trade	trade	NOUN
ajeer-7477	163	42	openness	openness	NOUN
ajeer-7477	163	43	averages	average	NOUN
ajeer-7477	163	44	7.277	7.277	NUM
ajeer-7477	163	45	and	and	CCONJ
ajeer-7477	163	46	ranges	range	VERB
ajeer-7477	163	47	from	from	ADP
ajeer-7477	163	48	3.730	3.730	NUM
ajeer-7477	163	49	to	to	ADP
ajeer-7477	163	50	9.170	9.170	NUM
ajeer-7477	163	51	,	,	PUNCT
ajeer-7477	163	52	showing	show	VERB
ajeer-7477	163	53	moderate	moderate	ADJ
ajeer-7477	163	54	left	left	ADJ
ajeer-7477	163	55	skewness	skewness	NOUN
ajeer-7477	163	56	(	(	PUNCT
ajeer-7477	163	57	–	–	PUNCT
ajeer-7477	163	58	0.607	0.607	NUM
ajeer-7477	163	59	)	)	PUNCT
ajeer-7477	163	60	.	.	PUNCT
ajeer-7477	164	1	government	government	NOUN
ajeer-7477	164	2	expenditure	expenditure	NOUN
ajeer-7477	164	3	(	(	PUNCT
ajeer-7477	164	4	lngovexp	lngovexp	PROPN
ajeer-7477	164	5	)	)	PUNCT
ajeer-7477	164	6	and	and	CCONJ
ajeer-7477	164	7	fixed	fix	VERB
ajeer-7477	164	8	asset	asset	NOUN
ajeer-7477	164	9	investment	investment	NOUN
ajeer-7477	164	10	(	(	PUNCT
ajeer-7477	164	11	lnfai	lnfai	NOUN
ajeer-7477	164	12	)	)	PUNCT
ajeer-7477	164	13	both	both	PRON
ajeer-7477	164	14	have	have	VERB
ajeer-7477	164	15	relatively	relatively	ADV
ajeer-7477	164	16	high	high	ADJ
ajeer-7477	164	17	means	mean	NOUN
ajeer-7477	164	18	(	(	PUNCT
ajeer-7477	164	19	14.582	14.582	NUM
ajeer-7477	164	20	and	and	CCONJ
ajeer-7477	164	21	16.734	16.734	NUM
ajeer-7477	164	22	,	,	PUNCT
ajeer-7477	164	23	respectively	respectively	ADV
ajeer-7477	164	24	)	)	PUNCT
ajeer-7477	164	25	and	and	CCONJ
ajeer-7477	164	26	are	be	AUX
ajeer-7477	164	27	slightly	slightly	ADV
ajeer-7477	164	28	left	leave	VERB
ajeer-7477	164	29	-	-	PUNCT
ajeer-7477	164	30	skewed	skewed	ADJ
ajeer-7477	164	31	,	,	PUNCT
ajeer-7477	164	32	suggesting	suggest	VERB
ajeer-7477	164	33	that	that	SCONJ
ajeer-7477	164	34	most	most	ADJ
ajeer-7477	164	35	observations	observation	NOUN
ajeer-7477	164	36	cluster	cluster	VERB
ajeer-7477	164	37	on	on	ADP
ajeer-7477	164	38	the	the	DET
ajeer-7477	164	39	higher	high	ADJ
ajeer-7477	164	40	end	end	NOUN
ajeer-7477	164	41	.	.	PUNCT
ajeer-7477	165	1	the	the	DET
ajeer-7477	165	2	log	log	NOUN
ajeer-7477	165	3	of	of	ADP
ajeer-7477	165	4	higher	high	ADJ
ajeer-7477	165	5	education	education	NOUN
ajeer-7477	165	6	enrollment	enrollment	NOUN
ajeer-7477	165	7	(	(	PUNCT
ajeer-7477	165	8	lnrhe	lnrhe	NOUN
ajeer-7477	165	9	)	)	PUNCT
ajeer-7477	165	10	has	have	VERB
ajeer-7477	165	11	a	a	DET
ajeer-7477	165	12	mean	mean	NOUN
ajeer-7477	165	13	of	of	ADP
ajeer-7477	165	14	13.014	13.014	NUM
ajeer-7477	165	15	and	and	CCONJ
ajeer-7477	165	16	a	a	DET
ajeer-7477	165	17	mild	mild	ADJ
ajeer-7477	165	18	negative	negative	ADJ
ajeer-7477	165	19	skew	skew	NOUN
ajeer-7477	165	20	(	(	PUNCT
ajeer-7477	165	21	–	–	PUNCT
ajeer-7477	165	22	0.309	0.309	NUM
ajeer-7477	165	23	)	)	PUNCT
ajeer-7477	165	24	,	,	PUNCT
ajeer-7477	165	25	implying	imply	VERB
ajeer-7477	165	26	a	a	DET
ajeer-7477	165	27	fairly	fairly	ADV
ajeer-7477	165	28	uniform	uniform	ADJ
ajeer-7477	165	29	distribution	distribution	NOUN
ajeer-7477	165	30	around	around	ADP
ajeer-7477	165	31	the	the	DET
ajeer-7477	165	32	center	center	NOUN
ajeer-7477	165	33	.	.	PUNCT
ajeer-7477	166	1	lastly	lastly	ADV
ajeer-7477	166	2	,	,	PUNCT
ajeer-7477	166	3	ir	ir	INTJ
ajeer-7477	166	4	,	,	PUNCT
ajeer-7477	166	5	with	with	ADP
ajeer-7477	166	6	a	a	DET
ajeer-7477	166	7	mean	mean	NOUN
ajeer-7477	166	8	of	of	ADP
ajeer-7477	166	9	4.693	4.693	NUM
ajeer-7477	166	10	,	,	PUNCT
ajeer-7477	166	11	exhibits	exhibit	VERB
ajeer-7477	166	12	right	right	ADJ
ajeer-7477	166	13	skewness	skewness	NOUN
ajeer-7477	166	14	(	(	PUNCT
ajeer-7477	166	15	1.026	1.026	NUM
ajeer-7477	166	16	)	)	PUNCT
ajeer-7477	166	17	,	,	PUNCT
ajeer-7477	166	18	reflecting	reflect	VERB
ajeer-7477	166	19	a	a	DET
ajeer-7477	166	20	few	few	ADJ
ajeer-7477	166	21	higher	high	ADJ
ajeer-7477	166	22	-	-	PUNCT
ajeer-7477	166	23	end	end	NOUN
ajeer-7477	166	24	observations	observation	NOUN
ajeer-7477	166	25	.	.	PUNCT
ajeer-7477	167	1	overall	overall	ADV
ajeer-7477	167	2	,	,	PUNCT
ajeer-7477	167	3	the	the	DET
ajeer-7477	167	4	variations	variation	NOUN
ajeer-7477	167	5	in	in	ADP
ajeer-7477	167	6	skewness	skewness	NOUN
ajeer-7477	167	7	,	,	PUNCT
ajeer-7477	167	8	kurtosis	kurtosis	NOUN
ajeer-7477	167	9	,	,	PUNCT
ajeer-7477	167	10	and	and	CCONJ
ajeer-7477	167	11	percentile	percentile	ADJ
ajeer-7477	167	12	values	value	NOUN
ajeer-7477	167	13	indicate	indicate	VERB
ajeer-7477	167	14	notable	notable	ADJ
ajeer-7477	167	15	heterogeneity	heterogeneity	NOUN
ajeer-7477	167	16	in	in	ADP
ajeer-7477	167	17	the	the	DET
ajeer-7477	167	18	dataset	dataset	NOUN
ajeer-7477	167	19	,	,	PUNCT
ajeer-7477	167	20	providing	provide	VERB
ajeer-7477	167	21	a	a	DET
ajeer-7477	167	22	crucial	crucial	ADJ
ajeer-7477	167	23	backdrop	backdrop	NOUN
ajeer-7477	167	24	for	for	ADP
ajeer-7477	167	25	subsequent	subsequent	ADJ
ajeer-7477	167	26	analyses	analysis	NOUN
ajeer-7477	167	27	of	of	ADP
ajeer-7477	167	28	how	how	SCONJ
ajeer-7477	167	29	financial	financial	ADJ
ajeer-7477	167	30	openness	openness	NOUN
ajeer-7477	167	31	,	,	PUNCT
ajeer-7477	167	32	financial	financial	ADJ
ajeer-7477	167	33	development	development	NOUN
ajeer-7477	167	34	,	,	PUNCT
ajeer-7477	167	35	and	and	CCONJ
ajeer-7477	167	36	other	other	ADJ
ajeer-7477	167	37	factors	factor	NOUN
ajeer-7477	167	38	interact	interact	VERB
ajeer-7477	167	39	to	to	PART
ajeer-7477	167	40	influence	influence	VERB
ajeer-7477	167	41	economic	economic	ADJ
ajeer-7477	167	42	growth	growth	NOUN
ajeer-7477	167	43	.	.	PUNCT
ajeer-7477	168	1	table	table	NOUN
ajeer-7477	168	2	2	2	NUM
ajeer-7477	168	3	.	.	PUNCT
ajeer-7477	168	4	descriptive	descriptive	ADJ
ajeer-7477	168	5	statistics	statistic	NOUN
ajeer-7477	168	6	.	.	PUNCT
ajeer-7477	169	1	variables	variable	NOUN
ajeer-7477	169	2	obs	obs	PROPN
ajeer-7477	169	3	.	.	PUNCT
ajeer-7477	170	1	mean	mean	VERB
ajeer-7477	170	2	std	std	PROPN
ajeer-7477	170	3	.	.	PROPN
ajeer-7477	171	1	dev	dev	PROPN
ajeer-7477	171	2	.	.	PUNCT
ajeer-7477	171	3	min	min	PROPN
ajeer-7477	171	4	.	.	PROPN
ajeer-7477	171	5	max	max	PROPN
ajeer-7477	171	6	.	.	PUNCT
ajeer-7477	172	1	p1	p1	PROPN
ajeer-7477	172	2	p99	p99	PROPN
ajeer-7477	172	3	skew	skew	NOUN
ajeer-7477	172	4	.	.	PUNCT
ajeer-7477	173	1	kurt	kurt	PROPN
ajeer-7477	173	2	.	.	PUNCT
ajeer-7477	174	1	lnpgdp	lnpgdp	VERB
ajeer-7477	174	2	270	270	NUM
ajeer-7477	174	3	8.777	8.777	NUM
ajeer-7477	174	4	1.287	1.287	NUM
ajeer-7477	174	5	5.935	5.935	NUM
ajeer-7477	174	6	11.388	11.388	NUM
ajeer-7477	174	7	6.047	6.047	NUM
ajeer-7477	174	8	11.335	11.335	NUM
ajeer-7477	174	9	-0.152	-0.152	NUM
ajeer-7477	174	10	2.221	2.221	NUM
ajeer-7477	174	11	fo	fo	ADP
ajeer-7477	174	12	270	270	NUM
ajeer-7477	174	13	4.409	4.409	NUM
ajeer-7477	174	14	2.177	2.177	NUM
ajeer-7477	174	15	-4.841	-4.841	NUM
ajeer-7477	174	16	9.992	9.992	NUM
ajeer-7477	174	17	-3.817	-3.817	NUM
ajeer-7477	174	18	9.983	9.983	NUM
ajeer-7477	174	19	-0.37	-0.37	NUM
ajeer-7477	174	20	7.055	7.055	NUM
ajeer-7477	174	21	fd	fd	NOUN
ajeer-7477	174	22	270	270	NUM
ajeer-7477	174	23	0	0	NUM
ajeer-7477	174	24	0.917	0.917	NUM
ajeer-7477	174	25	-0.725	-0.725	NUM
ajeer-7477	174	26	4.542	4.542	NUM
ajeer-7477	174	27	-.725	-.725	PROPN
ajeer-7477	174	28	3.479	3.479	NUM
ajeer-7477	174	29	1.953	1.953	NUM
ajeer-7477	174	30	7.145	7.145	NUM
ajeer-7477	174	31	lntei	lntei	NOUN
ajeer-7477	174	32	270	270	NUM
ajeer-7477	174	33	6.758	6.758	NUM
ajeer-7477	174	34	1.757	1.757	NUM
ajeer-7477	174	35	3.12	3.12	NUM
ajeer-7477	174	36	9.489	9.489	NUM
ajeer-7477	174	37	3.277	3.277	NUM
ajeer-7477	174	38	9.335	9.335	NUM
ajeer-7477	174	39	-0.296	-0.296	NUM
ajeer-7477	174	40	1.89	1.89	NUM
ajeer-7477	174	41	lngovexp	lngovexp	NOUN
ajeer-7477	174	42	270	270	NUM
ajeer-7477	174	43	5.28	5.28	NUM
ajeer-7477	174	44	1.53	1.53	NUM
ajeer-7477	174	45	1.995	1.995	NUM
ajeer-7477	174	46	7.947	7.947	NUM
ajeer-7477	174	47	2.023	2.023	NUM
ajeer-7477	174	48	7.827	7.827	NUM
ajeer-7477	174	49	-0.329	-0.329	NUM
ajeer-7477	174	50	2.021	2.021	NUM
ajeer-7477	174	51	lnfai	lnfai	NOUN
ajeer-7477	174	52	270	270	NUM
ajeer-7477	174	53	6.361	6.361	NUM
ajeer-7477	174	54	1.577	1.577	NUM
ajeer-7477	174	55	1.855	1.855	NUM
ajeer-7477	174	56	9.149	9.149	NUM
ajeer-7477	174	57	1.995	1.995	NUM
ajeer-7477	174	58	9.042	9.042	NUM
ajeer-7477	174	59	-0.385	-0.385	NUM
ajeer-7477	174	60	2.84	2.84	NUM
ajeer-7477	174	61	lnerhe	lnerhe	NOUN
ajeer-7477	174	62	270	270	NUM
ajeer-7477	174	63	2.693	2.693	NUM
ajeer-7477	174	64	1.186	1.186	NUM
ajeer-7477	174	65	-2.303	-2.303	NUM
ajeer-7477	174	66	5.537	5.537	NUM
ajeer-7477	174	67	-0.342	-0.342	NUM
ajeer-7477	174	68	5.325	5.325	NUM
ajeer-7477	174	69	-.429	-.429	PROPN
ajeer-7477	174	70	4.153	4.153	NUM
ajeer-7477	174	71	lnir	lnir	NOUN
ajeer-7477	174	72	270	270	NUM
ajeer-7477	174	73	4.635	4.635	NUM
ajeer-7477	174	74	0.036	0.036	NUM
ajeer-7477	174	75	4.564	4.564	NUM
ajeer-7477	174	76	4.777	4.777	NUM
ajeer-7477	174	77	4.572	4.572	NUM
ajeer-7477	174	78	4.759	4.759	NUM
ajeer-7477	174	79	1.46	1.46	NUM
ajeer-7477	174	80	5.865	5.865	NUM
ajeer-7477	174	81	4.2	4.2	NUM
ajeer-7477	174	82	.	.	PUNCT
ajeer-7477	175	1	coefficient	coefficient	NOUN
ajeer-7477	175	2	of	of	ADP
ajeer-7477	175	3	correlation	correlation	NOUN
ajeer-7477	175	4	the	the	DET
ajeer-7477	175	5	correlation	correlation	NOUN
ajeer-7477	175	6	matrix	matrix	NOUN
ajeer-7477	175	7	in	in	ADP
ajeer-7477	175	8	table	table	NOUN
ajeer-7477	175	9	3	3	NUM
ajeer-7477	175	10	reveals	reveal	VERB
ajeer-7477	175	11	several	several	ADJ
ajeer-7477	175	12	noteworthy	noteworthy	ADJ
ajeer-7477	175	13	patterns	pattern	NOUN
ajeer-7477	175	14	among	among	ADP
ajeer-7477	175	15	the	the	DET
ajeer-7477	175	16	eight	eight	NUM
ajeer-7477	175	17	variables	variable	NOUN
ajeer-7477	175	18	.	.	PUNCT
ajeer-7477	176	1	first	first	ADV
ajeer-7477	176	2	,	,	PUNCT
ajeer-7477	176	3	the	the	DET
ajeer-7477	176	4	log	log	NOUN
ajeer-7477	176	5	of	of	ADP
ajeer-7477	176	6	per	per	ADP
ajeer-7477	176	7	capita	capita	X
ajeer-7477	176	8	gdp	gdp	NOUN
ajeer-7477	176	9	(	(	PUNCT
ajeer-7477	176	10	lmgdp	lmgdp	NOUN
ajeer-7477	176	11	)	)	PUNCT
ajeer-7477	176	12	shows	show	VERB
ajeer-7477	176	13	moderate	moderate	ADJ
ajeer-7477	176	14	positive	positive	ADJ
ajeer-7477	176	15	correlations	correlation	NOUN
ajeer-7477	176	16	with	with	ADP
ajeer-7477	176	17	financial	financial	ADJ
ajeer-7477	176	18	openness	openness	NOUN
ajeer-7477	176	19	(	(	PUNCT
ajeer-7477	176	20	fo	fo	NOUN
ajeer-7477	176	21	)	)	PUNCT
ajeer-7477	176	22	,	,	PUNCT
ajeer-7477	176	23	financial	financial	ADJ
ajeer-7477	176	24	development	development	NOUN
ajeer-7477	176	25	(	(	PUNCT
ajeer-7477	176	26	fd	fd	PROPN
ajeer-7477	176	27	)	)	PUNCT
ajeer-7477	176	28	,	,	PUNCT
ajeer-7477	176	29	trade	trade	NOUN
ajeer-7477	176	30	openness	openness	NOUN
ajeer-7477	176	31	(	(	PUNCT
ajeer-7477	176	32	lntei	lntei	NOUN
ajeer-7477	176	33	)	)	PUNCT
ajeer-7477	176	34	,	,	PUNCT
ajeer-7477	176	35	government	government	NOUN
ajeer-7477	176	36	expenditure	expenditure	NOUN
ajeer-7477	176	37	(	(	PUNCT
ajeer-7477	176	38	lngovexp	lngovexp	PROPN
ajeer-7477	176	39	)	)	PUNCT
ajeer-7477	176	40	,	,	PUNCT
ajeer-7477	176	41	fixed	fix	VERB
ajeer-7477	176	42	asset	asset	NOUN
ajeer-7477	176	43	investment	investment	NOUN
ajeer-7477	176	44	(	(	PUNCT
ajeer-7477	176	45	lnfai	lnfai	NOUN
ajeer-7477	176	46	)	)	PUNCT
ajeer-7477	176	47	,	,	PUNCT
ajeer-7477	176	48	and	and	CCONJ
ajeer-7477	176	49	higher	high	ADJ
ajeer-7477	176	50	education	education	NOUN
ajeer-7477	176	51	enrollment	enrollment	NOUN
ajeer-7477	176	52	(	(	PUNCT
ajeer-7477	176	53	lnrhe	lnrhe	NOUN
ajeer-7477	176	54	)	)	PUNCT
ajeer-7477	176	55	.	.	PUNCT
ajeer-7477	177	1	this	this	PRON
ajeer-7477	177	2	suggests	suggest	VERB
ajeer-7477	177	3	that	that	SCONJ
ajeer-7477	177	4	regions	region	NOUN
ajeer-7477	177	5	with	with	ADP
ajeer-7477	177	6	higher	high	ADJ
ajeer-7477	177	7	economic	economic	ADJ
ajeer-7477	177	8	output	output	NOUN
ajeer-7477	177	9	tend	tend	VERB
ajeer-7477	177	10	to	to	PART
ajeer-7477	177	11	have	have	VERB
ajeer-7477	177	12	stronger	strong	ADJ
ajeer-7477	177	13	financial	financial	ADJ
ajeer-7477	177	14	systems	system	NOUN
ajeer-7477	177	15	,	,	PUNCT
ajeer-7477	177	16	more	more	ADV
ajeer-7477	177	17	active	active	ADJ
ajeer-7477	177	18	trade	trade	NOUN
ajeer-7477	177	19	,	,	PUNCT
ajeer-7477	177	20	greater	great	ADJ
ajeer-7477	177	21	public	public	ADJ
ajeer-7477	177	22	spending	spending	NOUN
ajeer-7477	177	23	,	,	PUNCT
ajeer-7477	177	24	and	and	CCONJ
ajeer-7477	177	25	higher	high	ADJ
ajeer-7477	177	26	investment	investment	NOUN
ajeer-7477	177	27	in	in	ADP
ajeer-7477	177	28	both	both	DET
ajeer-7477	177	29	fixed	fix	VERB
ajeer-7477	177	30	assets	asset	NOUN
ajeer-7477	177	31	and	and	CCONJ
ajeer-7477	177	32	human	human	ADJ
ajeer-7477	177	33	capital	capital	NOUN
ajeer-7477	177	34	.	.	PUNCT
ajeer-7477	178	1	notably	notably	ADV
ajeer-7477	178	2	,	,	PUNCT
ajeer-7477	178	3	lmgdp	lmgdp	NOUN
ajeer-7477	178	4	is	be	AUX
ajeer-7477	178	5	negatively	negatively	ADV
ajeer-7477	178	6	correlated	correlate	VERB
ajeer-7477	178	7	with	with	ADP
ajeer-7477	178	8	ir	ir	PROPN
ajeer-7477	178	9	,	,	PUNCT
ajeer-7477	178	10	indicating	indicate	VERB
ajeer-7477	178	11	that	that	SCONJ
ajeer-7477	178	12	higher	high	ADJ
ajeer-7477	178	13	interest	interest	NOUN
ajeer-7477	178	14	or	or	CCONJ
ajeer-7477	178	15	inflation	inflation	NOUN
ajeer-7477	178	16	rates	rate	NOUN
ajeer-7477	178	17	may	may	AUX
ajeer-7477	178	18	coincide	coincide	VERB
ajeer-7477	178	19	with	with	ADP
ajeer-7477	178	20	lower	low	ADJ
ajeer-7477	178	21	economic	economic	ADJ
ajeer-7477	178	22	performance	performance	NOUN
ajeer-7477	178	23	.	.	PUNCT
ajeer-7477	179	1	financial	financial	ADJ
ajeer-7477	179	2	openness	openness	NOUN
ajeer-7477	179	3	(	(	PUNCT
ajeer-7477	179	4	fo	fo	NOUN
ajeer-7477	179	5	)	)	PUNCT
ajeer-7477	179	6	and	and	CCONJ
ajeer-7477	179	7	trade	trade	NOUN
ajeer-7477	179	8	openness	openness	NOUN
ajeer-7477	179	9	(	(	PUNCT
ajeer-7477	179	10	lntei	lntei	NOUN
ajeer-7477	179	11	)	)	PUNCT
ajeer-7477	179	12	exhibit	exhibit	VERB
ajeer-7477	179	13	a	a	DET
ajeer-7477	179	14	particularly	particularly	ADV
ajeer-7477	179	15	strong	strong	ADJ
ajeer-7477	179	16	positive	positive	ADJ
ajeer-7477	179	17	relationship	relationship	NOUN
ajeer-7477	179	18	,	,	PUNCT
ajeer-7477	179	19	implying	imply	VERB
ajeer-7477	179	20	that	that	SCONJ
ajeer-7477	179	21	economies	economy	NOUN
ajeer-7477	179	22	more	more	ADV
ajeer-7477	179	23	integrated	integrate	VERB
ajeer-7477	179	24	into	into	ADP
ajeer-7477	179	25	global	global	ADJ
ajeer-7477	179	26	financial	financial	ADJ
ajeer-7477	179	27	markets	market	NOUN
ajeer-7477	179	28	also	also	ADV
ajeer-7477	179	29	tend	tend	VERB
ajeer-7477	179	30	to	to	PART
ajeer-7477	179	31	engage	engage	VERB
ajeer-7477	179	32	more	more	ADV
ajeer-7477	179	33	extensively	extensively	ADV
ajeer-7477	179	34	in	in	ADP
ajeer-7477	179	35	international	international	ADJ
ajeer-7477	179	36	trade	trade	NOUN
ajeer-7477	179	37	.	.	PUNCT
ajeer-7477	180	1	fd	fd	PUNCT
ajeer-7477	180	2	(	(	PUNCT
ajeer-7477	180	3	financial	financial	ADJ
ajeer-7477	180	4	development	development	NOUN
ajeer-7477	180	5	)	)	PUNCT
ajeer-7477	180	6	correlates	correlate	VERB
ajeer-7477	180	7	closely	closely	ADV
ajeer-7477	180	8	with	with	ADP
ajeer-7477	180	9	lngovexp	lngovexp	PROPN
ajeer-7477	180	10	,	,	PUNCT
ajeer-7477	180	11	suggesting	suggest	VERB
ajeer-7477	180	12	that	that	SCONJ
ajeer-7477	180	13	regions	region	NOUN
ajeer-7477	180	14	with	with	ADP
ajeer-7477	180	15	more	more	ADV
ajeer-7477	180	16	advanced	advanced	ADJ
ajeer-7477	180	17	financial	financial	ADJ
ajeer-7477	180	18	systems	system	NOUN
ajeer-7477	180	19	often	often	ADV
ajeer-7477	180	20	have	have	VERB
ajeer-7477	180	21	higher	high	ADJ
ajeer-7477	180	22	levels	level	NOUN
ajeer-7477	180	23	of	of	ADP
ajeer-7477	180	24	government	government	NOUN
ajeer-7477	180	25	spending	spending	NOUN
ajeer-7477	180	26	.	.	PUNCT
ajeer-7477	181	1	another	another	DET
ajeer-7477	181	2	strong	strong	ADJ
ajeer-7477	181	3	positive	positive	ADJ
ajeer-7477	181	4	association	association	NOUN
ajeer-7477	181	5	emerges	emerge	VERB
ajeer-7477	181	6	between	between	ADP
ajeer-7477	181	7	lnfai	lnfai	NOUN
ajeer-7477	181	8	(	(	PUNCT
ajeer-7477	181	9	fixed	fix	VERB
ajeer-7477	181	10	asset	asset	NOUN
ajeer-7477	181	11	investment	investment	NOUN
ajeer-7477	181	12	)	)	PUNCT
ajeer-7477	181	13	and	and	CCONJ
ajeer-7477	181	14	lnrhe	lnrhe	NOUN
ajeer-7477	181	15	(	(	PUNCT
ajeer-7477	181	16	higher	high	ADJ
ajeer-7477	181	17	education	education	NOUN
ajeer-7477	181	18	enrollment	enrollment	NOUN
ajeer-7477	181	19	)	)	PUNCT
ajeer-7477	181	20	,	,	PUNCT
ajeer-7477	181	21	pointing	point	VERB
ajeer-7477	181	22	to	to	ADP
ajeer-7477	181	23	a	a	DET
ajeer-7477	181	24	link	link	NOUN
ajeer-7477	181	25	between	between	ADP
ajeer-7477	181	26	investment	investment	NOUN
ajeer-7477	181	27	in	in	ADP
ajeer-7477	181	28	infrastructure	infrastructure	NOUN
ajeer-7477	181	29	or	or	CCONJ
ajeer-7477	181	30	capital	capital	NOUN
ajeer-7477	181	31	goods	good	NOUN
ajeer-7477	181	32	and	and	CCONJ
ajeer-7477	181	33	investment	investment	NOUN
ajeer-7477	181	34	in	in	ADP
ajeer-7477	181	35	human	human	ADJ
ajeer-7477	181	36	capital	capital	NOUN
ajeer-7477	181	37	.	.	PUNCT
ajeer-7477	182	1	finally	finally	ADV
ajeer-7477	182	2	,	,	PUNCT
ajeer-7477	182	3	ir	ir	PROPN
ajeer-7477	182	4	has	have	VERB
ajeer-7477	182	5	negative	negative	ADJ
ajeer-7477	182	6	correlations	correlation	NOUN
ajeer-7477	182	7	with	with	ADP
ajeer-7477	182	8	all	all	DET
ajeer-7477	182	9	other	other	ADJ
ajeer-7477	182	10	variables	variable	NOUN
ajeer-7477	182	11	,	,	PUNCT
ajeer-7477	182	12	notably	notably	ADV
ajeer-7477	182	13	lnrhe	lnrhe	ADJ
ajeer-7477	182	14	,	,	PUNCT
ajeer-7477	182	15	which	which	PRON
ajeer-7477	182	16	may	may	AUX
ajeer-7477	182	17	indicate	indicate	VERB
ajeer-7477	182	18	that	that	SCONJ
ajeer-7477	182	19	higher	high	ADJ
ajeer-7477	182	20	interest	interest	NOUN
ajeer-7477	182	21	or	or	CCONJ
ajeer-7477	182	22	inflation	inflation	NOUN
ajeer-7477	182	23	rates	rate	NOUN
ajeer-7477	182	24	are	be	AUX
ajeer-7477	182	25	accompanied	accompany	VERB
ajeer-7477	182	26	by	by	ADP
ajeer-7477	182	27	lower	low	ADJ
ajeer-7477	182	28	enrollment	enrollment	NOUN
ajeer-7477	182	29	in	in	ADP
ajeer-7477	182	30	higher	high	ADJ
ajeer-7477	182	31	education	education	NOUN
ajeer-7477	182	32	and	and	CCONJ
ajeer-7477	182	33	potentially	potentially	ADV
ajeer-7477	182	34	other	other	ADJ
ajeer-7477	182	35	adverse	adverse	ADJ
ajeer-7477	182	36	economic	economic	ADJ
ajeer-7477	182	37	conditions	condition	NOUN
ajeer-7477	182	38	.	.	PUNCT
ajeer-7477	183	1	overall	overall	ADV
ajeer-7477	183	2	,	,	PUNCT
ajeer-7477	183	3	these	these	DET
ajeer-7477	183	4	correlations	correlation	NOUN
ajeer-7477	183	5	underscore	underscore	VERB
ajeer-7477	183	6	the	the	DET
ajeer-7477	183	7	interconnectedness	interconnectedness	NOUN
ajeer-7477	183	8	of	of	ADP
ajeer-7477	183	9	economic	economic	ADJ
ajeer-7477	183	10	growth	growth	NOUN
ajeer-7477	183	11	,	,	PUNCT
ajeer-7477	183	12	financial	financial	ADJ
ajeer-7477	183	13	development	development	NOUN
ajeer-7477	183	14	,	,	PUNCT
ajeer-7477	183	15	and	and	CCONJ
ajeer-7477	183	16	socio	socio	NOUN
ajeer-7477	183	17	-	-	PUNCT
ajeer-7477	183	18	economic	economic	ADJ
ajeer-7477	183	19	factors	factor	NOUN
ajeer-7477	183	20	,	,	PUNCT
ajeer-7477	183	21	laying	lay	VERB
ajeer-7477	183	22	the	the	DET
ajeer-7477	183	23	groundwork	groundwork	NOUN
ajeer-7477	183	24	for	for	ADP
ajeer-7477	183	25	more	more	ADV
ajeer-7477	183	26	detailed	detailed	ADJ
ajeer-7477	183	27	causal	causal	ADV
ajeer-7477	183	28	or	or	CCONJ
ajeer-7477	183	29	moderating	moderating	NOUN
ajeer-7477	183	30	analyses	analysis	NOUN
ajeer-7477	183	31	.	.	PUNCT
ajeer-7477	184	1	table	table	NOUN
ajeer-7477	184	2	3	3	NUM
ajeer-7477	184	3	.	.	X
ajeer-7477	184	4	matrix	matrix	NOUN
ajeer-7477	184	5	of	of	ADP
ajeer-7477	184	6	correlations	correlation	NOUN
ajeer-7477	184	7	.	.	PUNCT
ajeer-7477	185	1	variables	variable	NOUN
ajeer-7477	185	2	(	(	PUNCT
ajeer-7477	185	3	1	1	NUM
ajeer-7477	185	4	)	)	PUNCT
ajeer-7477	185	5	(	(	PUNCT
ajeer-7477	185	6	2	2	NUM
ajeer-7477	185	7	)	)	PUNCT
ajeer-7477	185	8	(	(	PUNCT
ajeer-7477	185	9	3	3	X
ajeer-7477	185	10	)	)	PUNCT
ajeer-7477	185	11	(	(	PUNCT
ajeer-7477	185	12	4	4	NUM
ajeer-7477	185	13	)	)	PUNCT
ajeer-7477	185	14	(	(	PUNCT
ajeer-7477	185	15	5	5	NUM
ajeer-7477	185	16	)	)	PUNCT
ajeer-7477	185	17	(	(	PUNCT
ajeer-7477	185	18	6	6	NUM
ajeer-7477	185	19	)	)	PUNCT
ajeer-7477	185	20	(	(	PUNCT
ajeer-7477	185	21	7	7	NUM
ajeer-7477	185	22	)	)	PUNCT
ajeer-7477	185	23	(	(	PUNCT
ajeer-7477	185	24	8)	8)	NUM
ajeer-7477	185	25	(	(	PUNCT
ajeer-7477	185	26	1	1	NUM
ajeer-7477	185	27	)	)	PUNCT
ajeer-7477	185	28	lnpgdp	lnpgdp	NOUN
ajeer-7477	185	29	1.000	1.000	NUM
ajeer-7477	185	30	(	(	PUNCT
ajeer-7477	185	31	2	2	NUM
ajeer-7477	185	32	)	)	PUNCT
ajeer-7477	185	33	fo	fo	ADP
ajeer-7477	185	34	0.379	0.379	NUM
ajeer-7477	185	35	1.000	1.000	NUM
ajeer-7477	185	36	(	(	PUNCT
ajeer-7477	185	37	3	3	NUM
ajeer-7477	185	38	)	)	PUNCT
ajeer-7477	185	39	fd	fd	VERB
ajeer-7477	185	40	0.410	0.410	NUM
ajeer-7477	185	41	0.380	0.380	NUM
ajeer-7477	185	42	1.000	1.000	NUM
ajeer-7477	185	43	(	(	PUNCT
ajeer-7477	185	44	4	4	NUM
ajeer-7477	185	45	)	)	PUNCT
ajeer-7477	185	46	lntei	lntei	NOUN
ajeer-7477	185	47	0.476	0.476	NUM
ajeer-7477	185	48	0.760	0.760	NUM
ajeer-7477	185	49	0.666	0.666	NUM
ajeer-7477	185	50	1.000	1.000	NUM
ajeer-7477	185	51	(	(	PUNCT
ajeer-7477	185	52	5	5	NUM
ajeer-7477	185	53	)	)	PUNCT
ajeer-7477	185	54	lngovexp	lngovexp	NOUN
ajeer-7477	185	55	0.360	0.360	NUM
ajeer-7477	185	56	0.622	0.622	NUM
ajeer-7477	185	57	0.769	0.769	NUM
ajeer-7477	185	58	0.828	0.828	NUM
ajeer-7477	185	59	1.000	1.000	NUM
ajeer-7477	185	60	(	(	PUNCT
ajeer-7477	185	61	6	6	NUM
ajeer-7477	185	62	)	)	PUNCT
ajeer-7477	185	63	lnfai	lnfai	NOUN
ajeer-7477	185	64	0.131	0.131	NUM
ajeer-7477	185	65	0.521	0.521	NUM
ajeer-7477	185	66	0.687	0.687	NUM
ajeer-7477	185	67	0.702	0.702	NUM
ajeer-7477	185	68	0.939	0.939	NUM
ajeer-7477	185	69	1.000	1.000	NUM
ajeer-7477	185	70	(	(	PUNCT
ajeer-7477	185	71	7	7	NUM
ajeer-7477	185	72	)	)	PUNCT
ajeer-7477	185	73	lnerhe	lnerhe	NOUN
ajeer-7477	185	74	-0.048	-0.048	NOUN
ajeer-7477	186	1	0.492	0.492	NUM
ajeer-7477	186	2	0.593	0.593	NUM
ajeer-7477	186	3	0.683	0.683	NUM
ajeer-7477	186	4	0.829	0.829	NUM
ajeer-7477	186	5	0.876	0.876	NUM
ajeer-7477	186	6	1.000	1.000	NUM
ajeer-7477	186	7	(	(	PUNCT
ajeer-7477	186	8	8)	8)	NUM
ajeer-7477	186	9	lnir	lnir	NOUN
ajeer-7477	186	10	-0.257	-0.257	PUNCT
ajeer-7477	186	11	-0.165	-0.165	NUM
ajeer-7477	186	12	-0.156	-0.156	NUM
ajeer-7477	186	13	-0.262	-0.262	PUNCT
ajeer-7477	186	14	-0.192	-0.192	X
ajeer-7477	186	15	-0.108	-0.108	PUNCT
ajeer-7477	186	16	-0.122	-0.122	NUM
ajeer-7477	186	17	1.000	1.000	NUM
ajeer-7477	186	18	4.3	4.3	NUM
ajeer-7477	186	19	.	.	PUNCT
ajeer-7477	187	1	variance	variance	NOUN
ajeer-7477	187	2	inflation	inflation	NOUN
ajeer-7477	187	3	factor	factor	NOUN
ajeer-7477	187	4	for	for	ADP
ajeer-7477	187	5	multicollinearity	multicollinearity	NOUN
ajeer-7477	187	6	the	the	DET
ajeer-7477	187	7	variance	variance	NOUN
ajeer-7477	187	8	inflation	inflation	NOUN
ajeer-7477	187	9	factor	factor	NOUN
ajeer-7477	187	10	(	(	PUNCT
ajeer-7477	187	11	vif	vif	NOUN
ajeer-7477	187	12	)	)	PUNCT
ajeer-7477	187	13	values	value	NOUN
ajeer-7477	187	14	in	in	ADP
ajeer-7477	187	15	table	table	NOUN
ajeer-7477	187	16	4	4	NUM
ajeer-7477	187	17	all	all	DET
ajeer-7477	187	18	values	value	NOUN
ajeer-7477	187	19	fall	fall	VERB
ajeer-7477	187	20	well	well	ADV
ajeer-7477	187	21	below	below	ADP
ajeer-7477	187	22	the	the	DET
ajeer-7477	187	23	commonly	commonly	ADV
ajeer-7477	187	24	used	use	VERB
ajeer-7477	187	25	threshold	threshold	NOUN
ajeer-7477	187	26	of	of	ADP
ajeer-7477	187	27	10	10	NUM
ajeer-7477	187	28	,	,	PUNCT
ajeer-7477	187	29	indicating	indicate	VERB
ajeer-7477	187	30	that	that	SCONJ
ajeer-7477	187	31	multicollinearity	multicollinearity	NOUN
ajeer-7477	187	32	is	be	AUX
ajeer-7477	187	33	unlikely	unlikely	ADJ
ajeer-7477	187	34	to	to	PART
ajeer-7477	187	35	pose	pose	VERB
ajeer-7477	187	36	a	a	DET
ajeer-7477	187	37	significant	significant	ADJ
ajeer-7477	187	38	problem	problem	NOUN
ajeer-7477	187	39	in	in	ADP
ajeer-7477	187	40	the	the	DET
ajeer-7477	187	41	regression	regression	NOUN
ajeer-7477	187	42	analysis	analysis	NOUN
ajeer-7477	187	43	.	.	PUNCT
ajeer-7477	188	1	the	the	DET
ajeer-7477	188	2	highest	high	ADJ
ajeer-7477	188	3	vif	vif	NOUN
ajeer-7477	188	4	is	be	AUX
ajeer-7477	188	5	2.14	2.14	NUM
ajeer-7477	188	6	(	(	PUNCT
ajeer-7477	188	7	for	for	ADP
ajeer-7477	188	8	lnrhe	lnrhe	NOUN
ajeer-7477	188	9	)	)	PUNCT
ajeer-7477	188	10	,	,	PUNCT
ajeer-7477	188	11	while	while	SCONJ
ajeer-7477	188	12	the	the	DET
ajeer-7477	188	13	mean	mean	NOUN
ajeer-7477	188	14	vif	vif	NOUN
ajeer-7477	188	15	is	be	AUX
ajeer-7477	188	16	1.54	1.54	NUM
ajeer-7477	188	17	,	,	PUNCT
ajeer-7477	188	18	both	both	PRON
ajeer-7477	188	19	comfortably	comfortably	ADV
ajeer-7477	188	20	within	within	ADP
ajeer-7477	188	21	acceptable	acceptable	ADJ
ajeer-7477	188	22	ranges	range	NOUN
ajeer-7477	188	23	.	.	PUNCT
ajeer-7477	189	1	in	in	ADP
ajeer-7477	189	2	practical	practical	ADJ
ajeer-7477	189	3	terms	term	NOUN
ajeer-7477	189	4	,	,	PUNCT
ajeer-7477	189	5	these	these	DET
ajeer-7477	189	6	results	result	NOUN
ajeer-7477	189	7	suggest	suggest	VERB
ajeer-7477	189	8	that	that	SCONJ
ajeer-7477	189	9	none	none	NOUN
ajeer-7477	189	10	of	of	ADP
ajeer-7477	189	11	the	the	DET
ajeer-7477	189	12	explanatory	explanatory	ADJ
ajeer-7477	189	13	variables	variable	NOUN
ajeer-7477	189	14	strongly	strongly	ADV
ajeer-7477	189	15	overlap	overlap	VERB
ajeer-7477	189	16	with	with	ADP
ajeer-7477	189	17	each	each	DET
ajeer-7477	189	18	other	other	ADJ
ajeer-7477	189	19	,	,	PUNCT
ajeer-7477	189	20	allowing	allow	VERB
ajeer-7477	189	21	the	the	DET
ajeer-7477	189	22	regression	regression	NOUN
ajeer-7477	189	23	models	model	NOUN
ajeer-7477	189	24	to	to	PART
ajeer-7477	189	25	estimate	estimate	VERB
ajeer-7477	189	26	their	their	PRON
ajeer-7477	189	27	individual	individual	ADJ
ajeer-7477	189	28	effects	effect	NOUN
ajeer-7477	189	29	with	with	ADP
ajeer-7477	189	30	reasonable	reasonable	ADJ
ajeer-7477	189	31	precision	precision	NOUN
ajeer-7477	189	32	.	.	PUNCT
ajeer-7477	190	1	consequently	consequently	ADV
ajeer-7477	190	2	,	,	PUNCT
ajeer-7477	190	3	authors	author	NOUN
ajeer-7477	190	4	can	can	AUX
ajeer-7477	190	5	be	be	AUX
ajeer-7477	190	6	more	more	ADV
ajeer-7477	190	7	confident	confident	ADJ
ajeer-7477	190	8	that	that	SCONJ
ajeer-7477	190	9	the	the	DET
ajeer-7477	190	10	estimated	estimate	VERB
ajeer-7477	190	11	coefficients	coefficient	NOUN
ajeer-7477	190	12	will	will	AUX
ajeer-7477	190	13	not	not	PART
ajeer-7477	190	14	be	be	AUX
ajeer-7477	190	15	unduly	unduly	ADV
ajeer-7477	190	16	inflated	inflated	ADJ
ajeer-7477	190	17	or	or	CCONJ
ajeer-7477	190	18	rendered	render	VERB
ajeer-7477	190	19	unstable	unstable	ADJ
ajeer-7477	190	20	due	due	ADP
ajeer-7477	190	21	to	to	ADP
ajeer-7477	190	22	inter	inter	NOUN
ajeer-7477	190	23	-	-	NOUN
ajeer-7477	190	24	correlations	correlation	NOUN
ajeer-7477	190	25	among	among	ADP
ajeer-7477	190	26	the	the	DET
ajeer-7477	190	27	predictors	predictor	NOUN
ajeer-7477	190	28	.	.	PUNCT
ajeer-7477	191	1	table	table	NOUN
ajeer-7477	191	2	4	4	NUM
ajeer-7477	191	3	.	.	PUNCT
ajeer-7477	191	4	variance	variance	NOUN
ajeer-7477	191	5	inflation	inflation	NOUN
ajeer-7477	191	6	factor	factor	NOUN
ajeer-7477	191	7	.	.	PUNCT
ajeer-7477	192	1	variable	variable	ADJ
ajeer-7477	192	2	vif	vif	NOUN
ajeer-7477	192	3	1	1	NUM
ajeer-7477	192	4	/	/	SYM
ajeer-7477	192	5	vif	vif	NOUN
ajeer-7477	192	6	lnerhe	lnerhe	NOUN
ajeer-7477	192	7	2.14	2.14	NUM
ajeer-7477	192	8	0.468	0.468	NUM
ajeer-7477	192	9	e_fd	e_fd	NOUN
ajeer-7477	192	10	1.96	1.96	NUM
ajeer-7477	192	11	0.510	0.510	NUM
ajeer-7477	192	12	dlngovexp	dlngovexp	NOUN
ajeer-7477	192	13	1.6	1.6	NUM
ajeer-7477	192	14	0.626	0.626	NUM
ajeer-7477	192	15	dlnfai	dlnfai	VERB
ajeer-7477	192	16	1.47	1.47	NUM
ajeer-7477	192	17	0.679	0.679	NUM
ajeer-7477	192	18	fo	fo	ADP
ajeer-7477	192	19	1.34	1.34	NUM
ajeer-7477	192	20	0.744	0.744	NUM
ajeer-7477	192	21	dlntei	dlntei	NOUN
ajeer-7477	192	22	1.15	1.15	NUM
ajeer-7477	192	23	0.869	0.869	NUM
ajeer-7477	192	24	lnir	lnir	NOUN
ajeer-7477	192	25	1.14	1.14	NUM
ajeer-7477	192	26	0.879	0.879	NUM
ajeer-7477	192	27	mean	mean	NOUN
ajeer-7477	192	28	vif	vif	NOUN
ajeer-7477	192	29	1.54	1.54	NUM
ajeer-7477	192	30	asian	asian	PROPN
ajeer-7477	192	31	journal	journal	NOUN
ajeer-7477	192	32	of	of	ADP
ajeer-7477	192	33	economics	economic	NOUN
ajeer-7477	192	34	and	and	CCONJ
ajeer-7477	192	35	empirical	empirical	ADJ
ajeer-7477	192	36	research	research	NOUN
ajeer-7477	192	37	,	,	PUNCT
ajeer-7477	192	38	2025	2025	NUM
ajeer-7477	192	39	,	,	PUNCT
ajeer-7477	192	40	12(2	12(2	NUM
ajeer-7477	192	41	):	):	PUNCT
ajeer-7477	192	42	104	104	NUM
ajeer-7477	192	43	-	-	SYM
ajeer-7477	192	44	112	112	NUM
ajeer-7477	192	45	110	110	NUM
ajeer-7477	192	46	©	©	PROPN
ajeer-7477	192	47	2025	2025	NUM
ajeer-7477	192	48	by	by	ADP
ajeer-7477	192	49	the	the	DET
ajeer-7477	192	50	authors	author	NOUN
ajeer-7477	192	51	;	;	PUNCT
ajeer-7477	192	52	licensee	licensee	PROPN
ajeer-7477	192	53	asian	asian	ADJ
ajeer-7477	192	54	online	online	PROPN
ajeer-7477	192	55	journal	journal	PROPN
ajeer-7477	192	56	publishing	publishing	NOUN
ajeer-7477	192	57	group	group	NOUN
ajeer-7477	192	58	4.4	4.4	NUM
ajeer-7477	192	59	.	.	PUNCT
ajeer-7477	193	1	kao	kao	PROPN
ajeer-7477	193	2	co	co	PROPN
ajeer-7477	193	3	integration	integration	NOUN
ajeer-7477	193	4	test	test	VERB
ajeer-7477	193	5	the	the	DET
ajeer-7477	193	6	kao	kao	PROPN
ajeer-7477	193	7	test	test	NOUN
ajeer-7477	193	8	results	result	NOUN
ajeer-7477	193	9	in	in	ADP
ajeer-7477	193	10	table	table	NOUN
ajeer-7477	193	11	5	5	NUM
ajeer-7477	193	12	indicate	indicate	VERB
ajeer-7477	193	13	that	that	SCONJ
ajeer-7477	193	14	,	,	PUNCT
ajeer-7477	193	15	overall	overall	ADV
ajeer-7477	193	16	,	,	PUNCT
ajeer-7477	193	17	there	there	PRON
ajeer-7477	193	18	is	be	VERB
ajeer-7477	193	19	evidence	evidence	NOUN
ajeer-7477	193	20	of	of	ADP
ajeer-7477	193	21	a	a	DET
ajeer-7477	193	22	long	long	ADV
ajeer-7477	193	23	-	-	PUNCT
ajeer-7477	193	24	run	run	VERB
ajeer-7477	193	25	equilibrium	equilibrium	NOUN
ajeer-7477	193	26	relationship	relationship	NOUN
ajeer-7477	193	27	among	among	ADP
ajeer-7477	193	28	the	the	DET
ajeer-7477	193	29	variables	variable	NOUN
ajeer-7477	193	30	.	.	PUNCT
ajeer-7477	194	1	under	under	ADP
ajeer-7477	194	2	the	the	DET
ajeer-7477	194	3	null	null	ADJ
ajeer-7477	194	4	hypothesis	hypothesis	NOUN
ajeer-7477	194	5	of	of	ADP
ajeer-7477	194	6	no	no	DET
ajeer-7477	194	7	cointegration	cointegration	NOUN
ajeer-7477	194	8	,	,	PUNCT
ajeer-7477	194	9	four	four	NUM
ajeer-7477	194	10	of	of	ADP
ajeer-7477	194	11	the	the	DET
ajeer-7477	194	12	five	five	NUM
ajeer-7477	194	13	test	test	NOUN
ajeer-7477	194	14	variations	variation	NOUN
ajeer-7477	194	15	reject	reject	VERB
ajeer-7477	194	16	this	this	DET
ajeer-7477	194	17	null	null	NOUN
ajeer-7477	194	18	at	at	ADP
ajeer-7477	194	19	conventional	conventional	ADJ
ajeer-7477	194	20	significance	significance	NOUN
ajeer-7477	194	21	levels	level	NOUN
ajeer-7477	194	22	.	.	PUNCT
ajeer-7477	195	1	specifically	specifically	ADV
ajeer-7477	195	2	,	,	PUNCT
ajeer-7477	195	3	the	the	DET
ajeer-7477	195	4	modified	modify	VERB
ajeer-7477	195	5	dickey	dickey	NOUN
ajeer-7477	195	6	-	-	PUNCT
ajeer-7477	195	7	fuller	full	ADJ
ajeer-7477	195	8	t	t	NOUN
ajeer-7477	195	9	-	-	PUNCT
ajeer-7477	195	10	statistic	statistic	NOUN
ajeer-7477	195	11	(	(	PUNCT
ajeer-7477	195	12	–	–	PUNCT
ajeer-7477	195	13	2.0951	2.0951	NUM
ajeer-7477	195	14	,	,	PUNCT
ajeer-7477	195	15	p	p	X
ajeer-7477	195	16	=	=	NOUN
ajeer-7477	195	17	0.0181	0.0181	NUM
ajeer-7477	195	18	)	)	PUNCT
ajeer-7477	195	19	,	,	PUNCT
ajeer-7477	195	20	the	the	DET
ajeer-7477	195	21	dickeyfuller	dickeyfuller	NOUN
ajeer-7477	195	22	t	t	PROPN
ajeer-7477	195	23	-	-	PUNCT
ajeer-7477	195	24	statistic	statistic	NOUN
ajeer-7477	195	25	(	(	PUNCT
ajeer-7477	195	26	–	–	PUNCT
ajeer-7477	195	27	1.6968	1.6968	NUM
ajeer-7477	195	28	,	,	PUNCT
ajeer-7477	195	29	p	p	X
ajeer-7477	195	30	=	=	NOUN
ajeer-7477	195	31	0.0449	0.0449	NUM
ajeer-7477	195	32	)	)	PUNCT
ajeer-7477	195	33	,	,	PUNCT
ajeer-7477	195	34	the	the	DET
ajeer-7477	195	35	unadjusted	unadjuste	VERB
ajeer-7477	195	36	modified	modify	VERB
ajeer-7477	195	37	dickey	dickey	NOUN
ajeer-7477	195	38	-	-	PUNCT
ajeer-7477	195	39	fuller	full	ADJ
ajeer-7477	195	40	t	t	NOUN
ajeer-7477	195	41	-	-	PUNCT
ajeer-7477	195	42	statistic	statistic	NOUN
ajeer-7477	195	43	(	(	PUNCT
ajeer-7477	195	44	–	–	PUNCT
ajeer-7477	195	45	3.2180	3.2180	NUM
ajeer-7477	195	46	,	,	PUNCT
ajeer-7477	195	47	p	p	X
ajeer-7477	195	48	=	=	PROPN
ajeer-7477	195	49	0.0006	0.0006	NUM
ajeer-7477	195	50	)	)	PUNCT
ajeer-7477	195	51	,	,	PUNCT
ajeer-7477	195	52	and	and	CCONJ
ajeer-7477	195	53	the	the	DET
ajeer-7477	195	54	unadjusted	unadjusted	ADJ
ajeer-7477	195	55	dickey	dickey	NOUN
ajeer-7477	195	56	-	-	PUNCT
ajeer-7477	195	57	fuller	full	ADJ
ajeer-7477	195	58	t	t	NOUN
ajeer-7477	195	59	-	-	PUNCT
ajeer-7477	195	60	statistic	statistic	NOUN
ajeer-7477	195	61	(	(	PUNCT
ajeer-7477	195	62	–	–	PUNCT
ajeer-7477	195	63	2.1808	2.1808	NUM
ajeer-7477	195	64	,	,	PUNCT
ajeer-7477	195	65	p	p	X
ajeer-7477	195	66	=	=	NOUN
ajeer-7477	195	67	0.0146	0.0146	NUM
ajeer-7477	195	68	)	)	PUNCT
ajeer-7477	195	69	are	be	AUX
ajeer-7477	195	70	all	all	PRON
ajeer-7477	195	71	statistically	statistically	ADV
ajeer-7477	195	72	significant	significant	ADJ
ajeer-7477	195	73	,	,	PUNCT
ajeer-7477	195	74	suggesting	suggest	VERB
ajeer-7477	195	75	that	that	SCONJ
ajeer-7477	195	76	the	the	DET
ajeer-7477	195	77	variables	variable	NOUN
ajeer-7477	195	78	move	move	VERB
ajeer-7477	195	79	together	together	ADV
ajeer-7477	195	80	in	in	ADP
ajeer-7477	195	81	the	the	DET
ajeer-7477	195	82	long	long	ADJ
ajeer-7477	195	83	run	run	NOUN
ajeer-7477	195	84	.	.	PUNCT
ajeer-7477	196	1	the	the	DET
ajeer-7477	196	2	augmented	augment	VERB
ajeer-7477	196	3	dickey	dickey	PROPN
ajeer-7477	196	4	-	-	PUNCT
ajeer-7477	196	5	fuller	full	ADJ
ajeer-7477	196	6	t	t	NOUN
ajeer-7477	196	7	-	-	PUNCT
ajeer-7477	196	8	statistic	statistic	NOUN
ajeer-7477	196	9	(	(	PUNCT
ajeer-7477	196	10	–	–	PUNCT
ajeer-7477	196	11	0.1235	0.1235	NUM
ajeer-7477	196	12	,	,	PUNCT
ajeer-7477	196	13	p	p	X
ajeer-7477	196	14	=	=	NOUN
ajeer-7477	196	15	0.4508	0.4508	NUM
ajeer-7477	196	16	)	)	PUNCT
ajeer-7477	196	17	is	be	AUX
ajeer-7477	196	18	the	the	DET
ajeer-7477	196	19	only	only	ADJ
ajeer-7477	196	20	exception	exception	NOUN
ajeer-7477	196	21	,	,	PUNCT
ajeer-7477	196	22	as	as	SCONJ
ajeer-7477	196	23	its	its	PRON
ajeer-7477	196	24	p	p	NOUN
ajeer-7477	196	25	-	-	PUNCT
ajeer-7477	196	26	value	value	NOUN
ajeer-7477	196	27	exceeds	exceed	VERB
ajeer-7477	196	28	the	the	DET
ajeer-7477	196	29	usual	usual	ADJ
ajeer-7477	196	30	5	5	NUM
ajeer-7477	196	31	%	%	NOUN
ajeer-7477	196	32	threshold	threshold	NOUN
ajeer-7477	196	33	and	and	CCONJ
ajeer-7477	196	34	thus	thus	ADV
ajeer-7477	196	35	fails	fail	VERB
ajeer-7477	196	36	to	to	PART
ajeer-7477	196	37	reject	reject	VERB
ajeer-7477	196	38	the	the	DET
ajeer-7477	196	39	null	null	NOUN
ajeer-7477	196	40	of	of	ADP
ajeer-7477	196	41	no	no	DET
ajeer-7477	196	42	cointegration	cointegration	NOUN
ajeer-7477	196	43	.	.	PUNCT
ajeer-7477	197	1	nonetheless	nonetheless	ADV
ajeer-7477	197	2	,	,	PUNCT
ajeer-7477	197	3	given	give	VERB
ajeer-7477	197	4	that	that	SCONJ
ajeer-7477	197	5	most	most	ADJ
ajeer-7477	197	6	test	test	NOUN
ajeer-7477	197	7	variations	variation	NOUN
ajeer-7477	197	8	strongly	strongly	ADV
ajeer-7477	197	9	support	support	VERB
ajeer-7477	197	10	cointegration	cointegration	NOUN
ajeer-7477	197	11	,	,	PUNCT
ajeer-7477	197	12	the	the	DET
ajeer-7477	197	13	results	result	NOUN
ajeer-7477	197	14	imply	imply	VERB
ajeer-7477	197	15	a	a	DET
ajeer-7477	197	16	stable	stable	ADJ
ajeer-7477	197	17	long	long	ADJ
ajeer-7477	197	18	-	-	PUNCT
ajeer-7477	197	19	term	term	NOUN
ajeer-7477	197	20	linkage	linkage	NOUN
ajeer-7477	197	21	among	among	ADP
ajeer-7477	197	22	the	the	DET
ajeer-7477	197	23	examined	examine	VERB
ajeer-7477	197	24	variables	variable	NOUN
ajeer-7477	197	25	in	in	ADP
ajeer-7477	197	26	the	the	DET
ajeer-7477	197	27	panel	panel	NOUN
ajeer-7477	197	28	.	.	PUNCT
ajeer-7477	198	1	table	table	NOUN
ajeer-7477	198	2	5	5	NUM
ajeer-7477	198	3	.	.	PUNCT
ajeer-7477	198	4	kao	kao	PROPN
ajeer-7477	198	5	cointegration	cointegration	PROPN
ajeer-7477	198	6	test	test	NOUN
ajeer-7477	198	7	.	.	PUNCT
ajeer-7477	199	1	test	test	NOUN
ajeer-7477	199	2	statistic	statistic	NOUN
ajeer-7477	199	3	p	p	NOUN
ajeer-7477	199	4	-	-	PUNCT
ajeer-7477	199	5	value	value	NOUN
ajeer-7477	199	6	modified	modify	VERB
ajeer-7477	199	7	dickey	dickey	NOUN
ajeer-7477	199	8	-	-	PUNCT
ajeer-7477	199	9	fuller	full	ADJ
ajeer-7477	199	10	t	t	NOUN
ajeer-7477	199	11	-2.1709	-2.1709	NOUN
ajeer-7477	199	12	0.0150	0.0150	NUM
ajeer-7477	199	13	dickey	dickey	NOUN
ajeer-7477	199	14	-	-	PUNCT
ajeer-7477	199	15	fuller	full	ADJ
ajeer-7477	199	16	t	t	PROPN
ajeer-7477	199	17	-0.9685	-0.9685	NOUN
ajeer-7477	199	18	0.1664	0.1664	NUM
ajeer-7477	199	19	augmented	augment	VERB
ajeer-7477	199	20	dickey	dickey	NOUN
ajeer-7477	199	21	-	-	PUNCT
ajeer-7477	199	22	fuller	full	ADJ
ajeer-7477	199	23	t	t	PROPN
ajeer-7477	199	24	2.4085	2.4085	NUM
ajeer-7477	199	25	0.0080	0.0080	NUM
ajeer-7477	199	26	unadjusted	unadjuste	VERB
ajeer-7477	199	27	modified	modify	VERB
ajeer-7477	199	28	dickey	dickey	NOUN
ajeer-7477	199	29	-	-	PUNCT
ajeer-7477	199	30	fuller	full	ADJ
ajeer-7477	199	31	t	t	PROPN
ajeer-7477	199	32	-3.7192	-3.7192	NOUN
ajeer-7477	199	33	0.0001	0.0001	NUM
ajeer-7477	199	34	unadjusted	unadjuste	VERB
ajeer-7477	199	35	dickey	dickey	NOUN
ajeer-7477	199	36	-	-	PUNCT
ajeer-7477	199	37	fuller	full	ADJ
ajeer-7477	199	38	t	t	PROPN
ajeer-7477	199	39	-1.6342	-1.6342	NOUN
ajeer-7477	199	40	0.0511	0.0511	NUM
ajeer-7477	199	41	kernel	kernel	NOUN
ajeer-7477	199	42	:	:	PUNCT
ajeer-7477	199	43	bartlett	bartlett	PROPN
ajeer-7477	199	44	lags	lag	VERB
ajeer-7477	199	45	:	:	PUNCT
ajeer-7477	199	46	1.90(neway	1.90(neway	NUM
ajeer-7477	199	47	-	-	PUNCT
ajeer-7477	199	48	west	west	ADJ
ajeer-7477	199	49	)	)	PUNCT
ajeer-7477	199	50	number	number	NOUN
ajeer-7477	199	51	of	of	ADP
ajeer-7477	199	52	panels	panel	NOUN
ajeer-7477	199	53	10	10	NUM
ajeer-7477	199	54	number	number	NOUN
ajeer-7477	199	55	of	of	ADP
ajeer-7477	199	56	periods	period	NOUN
ajeer-7477	199	57	24	24	NUM
ajeer-7477	199	58	4.5	4.5	NUM
ajeer-7477	199	59	.	.	PUNCT
ajeer-7477	200	1	existence	existence	NOUN
ajeer-7477	200	2	of	of	ADP
ajeer-7477	200	3	threshold	threshold	NOUN
ajeer-7477	200	4	the	the	DET
ajeer-7477	200	5	results	result	NOUN
ajeer-7477	200	6	in	in	ADP
ajeer-7477	200	7	tables	table	NOUN
ajeer-7477	200	8	6	6	NUM
ajeer-7477	200	9	and	and	CCONJ
ajeer-7477	200	10	7	7	NUM
ajeer-7477	200	11	confirm	confirm	VERB
ajeer-7477	200	12	the	the	DET
ajeer-7477	200	13	presence	presence	NOUN
ajeer-7477	200	14	of	of	ADP
ajeer-7477	200	15	threshold	threshold	NOUN
ajeer-7477	200	16	effects	effect	NOUN
ajeer-7477	200	17	for	for	ADP
ajeer-7477	200	18	financial	financial	ADJ
ajeer-7477	200	19	openness	openness	NOUN
ajeer-7477	200	20	(	(	PUNCT
ajeer-7477	200	21	fo	fo	NOUN
ajeer-7477	200	22	)	)	PUNCT
ajeer-7477	200	23	in	in	ADP
ajeer-7477	200	24	moderating	moderate	VERB
ajeer-7477	200	25	the	the	DET
ajeer-7477	200	26	relationship	relationship	NOUN
ajeer-7477	200	27	between	between	ADP
ajeer-7477	200	28	financial	financial	ADJ
ajeer-7477	200	29	development	development	NOUN
ajeer-7477	200	30	(	(	PUNCT
ajeer-7477	200	31	fd	fd	PROPN
ajeer-7477	200	32	)	)	PUNCT
ajeer-7477	200	33	and	and	CCONJ
ajeer-7477	200	34	economic	economic	ADJ
ajeer-7477	200	35	growth	growth	NOUN
ajeer-7477	200	36	.	.	PUNCT
ajeer-7477	201	1	table	table	NOUN
ajeer-7477	201	2	6	6	NUM
ajeer-7477	201	3	identifies	identify	VERB
ajeer-7477	201	4	two	two	NUM
ajeer-7477	201	5	critical	critical	ADJ
ajeer-7477	201	6	thresholds	threshold	NOUN
ajeer-7477	201	7	,	,	PUNCT
ajeer-7477	201	8	approximately	approximately	ADV
ajeer-7477	201	9	–	–	PUNCT
ajeer-7477	201	10	0.4253	0.4253	NUM
ajeer-7477	201	11	and	and	CCONJ
ajeer-7477	201	12	0.9574	0.9574	NUM
ajeer-7477	201	13	,	,	PUNCT
ajeer-7477	201	14	indicating	indicate	VERB
ajeer-7477	201	15	that	that	SCONJ
ajeer-7477	201	16	the	the	DET
ajeer-7477	201	17	impact	impact	NOUN
ajeer-7477	201	18	of	of	ADP
ajeer-7477	201	19	fd	fd	PROPN
ajeer-7477	201	20	on	on	ADP
ajeer-7477	201	21	growth	growth	NOUN
ajeer-7477	201	22	may	may	AUX
ajeer-7477	201	23	shift	shift	VERB
ajeer-7477	201	24	when	when	SCONJ
ajeer-7477	201	25	fo	fo	ADP
ajeer-7477	201	26	crosses	cross	VERB
ajeer-7477	201	27	these	these	DET
ajeer-7477	201	28	points	point	NOUN
ajeer-7477	201	29	.	.	PUNCT
ajeer-7477	202	1	table	table	NOUN
ajeer-7477	202	2	7	7	NUM
ajeer-7477	202	3	reinforces	reinforce	VERB
ajeer-7477	202	4	these	these	DET
ajeer-7477	202	5	findings	finding	NOUN
ajeer-7477	202	6	by	by	ADP
ajeer-7477	202	7	showing	show	VERB
ajeer-7477	202	8	that	that	SCONJ
ajeer-7477	202	9	both	both	DET
ajeer-7477	202	10	singleand	singleand	ADP
ajeer-7477	202	11	double	double	ADJ
ajeer-7477	202	12	-	-	PUNCT
ajeer-7477	202	13	threshold	threshold	NOUN
ajeer-7477	202	14	models	model	NOUN
ajeer-7477	202	15	yield	yield	VERB
ajeer-7477	202	16	significant	significant	ADJ
ajeer-7477	202	17	f	f	NOUN
ajeer-7477	202	18	-	-	PUNCT
ajeer-7477	202	19	statistics	statistic	NOUN
ajeer-7477	202	20	(	(	PUNCT
ajeer-7477	202	21	135.80	135.80	NUM
ajeer-7477	202	22	and	and	CCONJ
ajeer-7477	202	23	49.16	49.16	NUM
ajeer-7477	202	24	,	,	PUNCT
ajeer-7477	202	25	respectively	respectively	ADV
ajeer-7477	202	26	)	)	PUNCT
ajeer-7477	202	27	,	,	PUNCT
ajeer-7477	202	28	each	each	PRON
ajeer-7477	202	29	surpassing	surpass	VERB
ajeer-7477	202	30	conventional	conventional	ADJ
ajeer-7477	202	31	critical	critical	ADJ
ajeer-7477	202	32	values	value	NOUN
ajeer-7477	202	33	.	.	PUNCT
ajeer-7477	203	1	this	this	PRON
ajeer-7477	203	2	strongly	strongly	ADV
ajeer-7477	203	3	rejects	reject	VERB
ajeer-7477	203	4	the	the	DET
ajeer-7477	203	5	null	null	ADJ
ajeer-7477	203	6	hypothesis	hypothesis	NOUN
ajeer-7477	203	7	of	of	ADP
ajeer-7477	203	8	no	no	DET
ajeer-7477	203	9	threshold	threshold	NOUN
ajeer-7477	203	10	,	,	PUNCT
ajeer-7477	203	11	suggesting	suggest	VERB
ajeer-7477	203	12	that	that	SCONJ
ajeer-7477	203	13	fd	fd	VERB
ajeer-7477	203	14	’s	’s	PART
ajeer-7477	203	15	effect	effect	NOUN
ajeer-7477	203	16	on	on	ADP
ajeer-7477	203	17	economic	economic	ADJ
ajeer-7477	203	18	growth	growth	NOUN
ajeer-7477	203	19	differs	differ	VERB
ajeer-7477	203	20	across	across	ADP
ajeer-7477	203	21	multiple	multiple	ADJ
ajeer-7477	203	22	regimes	regime	NOUN
ajeer-7477	203	23	of	of	ADP
ajeer-7477	203	24	financial	financial	ADJ
ajeer-7477	203	25	openness	openness	NOUN
ajeer-7477	203	26	.	.	PUNCT
ajeer-7477	204	1	table	table	NOUN
ajeer-7477	204	2	8	8	NUM
ajeer-7477	204	3	further	far	ADV
ajeer-7477	204	4	illustrates	illustrate	VERB
ajeer-7477	204	5	the	the	DET
ajeer-7477	204	6	nature	nature	NOUN
ajeer-7477	204	7	of	of	ADP
ajeer-7477	204	8	these	these	DET
ajeer-7477	204	9	nonlinearities	nonlinearitie	NOUN
ajeer-7477	204	10	by	by	ADP
ajeer-7477	204	11	incorporating	incorporate	VERB
ajeer-7477	204	12	the	the	DET
ajeer-7477	204	13	square	square	ADJ
ajeer-7477	204	14	term	term	NOUN
ajeer-7477	204	15	of	of	ADP
ajeer-7477	204	16	fd	fd	PROPN
ajeer-7477	204	17	alongside	alongside	ADP
ajeer-7477	204	18	its	its	PRON
ajeer-7477	204	19	interaction	interaction	NOUN
ajeer-7477	204	20	with	with	ADP
ajeer-7477	204	21	fo	fo	NOUN
ajeer-7477	204	22	.	.	PUNCT
ajeer-7477	205	1	the	the	DET
ajeer-7477	205	2	positive	positive	ADJ
ajeer-7477	205	3	and	and	CCONJ
ajeer-7477	205	4	significant	significant	ADJ
ajeer-7477	205	5	coefficient	coefficient	NOUN
ajeer-7477	205	6	on	on	ADP
ajeer-7477	205	7	the	the	DET
ajeer-7477	205	8	fd*fo	fd*fo	ADJ
ajeer-7477	205	9	term	term	NOUN
ajeer-7477	205	10	indicates	indicate	VERB
ajeer-7477	205	11	that	that	SCONJ
ajeer-7477	205	12	higher	high	ADJ
ajeer-7477	205	13	levels	level	NOUN
ajeer-7477	205	14	of	of	ADP
ajeer-7477	205	15	financial	financial	ADJ
ajeer-7477	205	16	openness	openness	NOUN
ajeer-7477	205	17	amplify	amplify	VERB
ajeer-7477	205	18	the	the	DET
ajeer-7477	205	19	influence	influence	NOUN
ajeer-7477	205	20	of	of	ADP
ajeer-7477	205	21	fd	fd	PROPN
ajeer-7477	205	22	on	on	ADP
ajeer-7477	205	23	economic	economic	ADJ
ajeer-7477	205	24	growth	growth	NOUN
ajeer-7477	205	25	once	once	SCONJ
ajeer-7477	205	26	certain	certain	ADJ
ajeer-7477	205	27	thresholds	threshold	NOUN
ajeer-7477	205	28	are	be	AUX
ajeer-7477	205	29	reached	reach	VERB
ajeer-7477	205	30	.	.	PUNCT
ajeer-7477	206	1	by	by	ADP
ajeer-7477	206	2	contrast	contrast	NOUN
ajeer-7477	206	3	,	,	PUNCT
ajeer-7477	206	4	some	some	DET
ajeer-7477	206	5	control	control	NOUN
ajeer-7477	206	6	variables	variable	NOUN
ajeer-7477	206	7	such	such	ADJ
ajeer-7477	206	8	as	as	ADP
ajeer-7477	206	9	government	government	NOUN
ajeer-7477	206	10	expenditure	expenditure	NOUN
ajeer-7477	206	11	(	(	PUNCT
ajeer-7477	206	12	dlngovexp	dlngovexp	NOUN
ajeer-7477	206	13	)	)	PUNCT
ajeer-7477	206	14	and	and	CCONJ
ajeer-7477	206	15	trade	trade	NOUN
ajeer-7477	206	16	openness	openness	NOUN
ajeer-7477	206	17	(	(	PUNCT
ajeer-7477	206	18	dlntei	dlntei	NOUN
ajeer-7477	206	19	)	)	PUNCT
ajeer-7477	206	20	show	show	VERB
ajeer-7477	206	21	negative	negative	ADJ
ajeer-7477	206	22	coefficients	coefficient	NOUN
ajeer-7477	206	23	,	,	PUNCT
ajeer-7477	206	24	suggesting	suggest	VERB
ajeer-7477	206	25	potential	potential	ADJ
ajeer-7477	206	26	inefficiencies	inefficiency	NOUN
ajeer-7477	206	27	or	or	CCONJ
ajeer-7477	206	28	structural	structural	ADJ
ajeer-7477	206	29	constraints	constraint	NOUN
ajeer-7477	206	30	when	when	SCONJ
ajeer-7477	206	31	these	these	DET
ajeer-7477	206	32	factors	factor	NOUN
ajeer-7477	206	33	increase	increase	VERB
ajeer-7477	206	34	.	.	PUNCT
ajeer-7477	207	1	the	the	DET
ajeer-7477	207	2	inflation	inflation	NOUN
ajeer-7477	207	3	measure	measure	NOUN
ajeer-7477	207	4	(	(	PUNCT
ajeer-7477	207	5	lnir	lnir	NOUN
ajeer-7477	207	6	)	)	PUNCT
ajeer-7477	207	7	has	have	VERB
ajeer-7477	207	8	a	a	DET
ajeer-7477	207	9	positive	positive	ADJ
ajeer-7477	207	10	coefficient	coefficient	NOUN
ajeer-7477	207	11	,	,	PUNCT
ajeer-7477	207	12	implying	imply	VERB
ajeer-7477	207	13	that	that	SCONJ
ajeer-7477	207	14	moderate	moderate	ADJ
ajeer-7477	207	15	inflation	inflation	NOUN
ajeer-7477	207	16	may	may	AUX
ajeer-7477	207	17	accompany	accompany	VERB
ajeer-7477	207	18	economic	economic	ADJ
ajeer-7477	207	19	expansion	expansion	NOUN
ajeer-7477	207	20	.	.	PUNCT
ajeer-7477	208	1	overall	overall	ADV
ajeer-7477	208	2	,	,	PUNCT
ajeer-7477	208	3	the	the	DET
ajeer-7477	208	4	three	three	NUM
ajeer-7477	208	5	tables	table	NOUN
ajeer-7477	208	6	collectively	collectively	ADV
ajeer-7477	208	7	demonstrate	demonstrate	VERB
ajeer-7477	208	8	that	that	SCONJ
ajeer-7477	208	9	the	the	DET
ajeer-7477	208	10	relationship	relationship	NOUN
ajeer-7477	208	11	between	between	ADP
ajeer-7477	208	12	financial	financial	ADJ
ajeer-7477	208	13	development	development	NOUN
ajeer-7477	208	14	and	and	CCONJ
ajeer-7477	208	15	economic	economic	ADJ
ajeer-7477	208	16	growth	growth	NOUN
ajeer-7477	208	17	is	be	AUX
ajeer-7477	208	18	neither	neither	CCONJ
ajeer-7477	208	19	purely	purely	ADV
ajeer-7477	208	20	linear	linear	ADJ
ajeer-7477	208	21	nor	nor	CCONJ
ajeer-7477	208	22	uniform	uniform	ADJ
ajeer-7477	208	23	;	;	PUNCT
ajeer-7477	208	24	instead	instead	ADV
ajeer-7477	208	25	,	,	PUNCT
ajeer-7477	208	26	it	it	PRON
ajeer-7477	208	27	depends	depend	VERB
ajeer-7477	208	28	on	on	ADP
ajeer-7477	208	29	specific	specific	ADJ
ajeer-7477	208	30	ranges	range	NOUN
ajeer-7477	208	31	of	of	ADP
ajeer-7477	208	32	financial	financial	ADJ
ajeer-7477	208	33	openness	openness	NOUN
ajeer-7477	208	34	.	.	PUNCT
ajeer-7477	209	1	these	these	DET
ajeer-7477	209	2	findings	finding	NOUN
ajeer-7477	209	3	underscore	underscore	VERB
ajeer-7477	209	4	the	the	DET
ajeer-7477	209	5	importance	importance	NOUN
ajeer-7477	209	6	of	of	ADP
ajeer-7477	209	7	calibrating	calibrate	VERB
ajeer-7477	209	8	financial	financial	ADJ
ajeer-7477	209	9	liberalization	liberalization	NOUN
ajeer-7477	209	10	strategies	strategy	NOUN
ajeer-7477	209	11	to	to	ADP
ajeer-7477	209	12	the	the	DET
ajeer-7477	209	13	existing	exist	VERB
ajeer-7477	209	14	level	level	NOUN
ajeer-7477	209	15	of	of	ADP
ajeer-7477	209	16	domestic	domestic	ADJ
ajeer-7477	209	17	financial	financial	ADJ
ajeer-7477	209	18	development	development	NOUN
ajeer-7477	209	19	and	and	CCONJ
ajeer-7477	209	20	broader	broad	ADJ
ajeer-7477	209	21	economic	economic	ADJ
ajeer-7477	209	22	conditions	condition	NOUN
ajeer-7477	209	23	,	,	PUNCT
ajeer-7477	209	24	thereby	thereby	ADV
ajeer-7477	209	25	offering	offer	VERB
ajeer-7477	209	26	a	a	DET
ajeer-7477	209	27	more	more	ADV
ajeer-7477	209	28	nuanced	nuanced	ADJ
ajeer-7477	209	29	policy	policy	NOUN
ajeer-7477	209	30	perspective	perspective	NOUN
ajeer-7477	209	31	on	on	ADP
ajeer-7477	209	32	fostering	foster	VERB
ajeer-7477	209	33	sustainable	sustainable	ADJ
ajeer-7477	209	34	growth	growth	NOUN
ajeer-7477	209	35	.	.	PUNCT
ajeer-7477	210	1	table	table	NOUN
ajeer-7477	210	2	6	6	NUM
ajeer-7477	210	3	.	.	PUNCT
ajeer-7477	211	1	results	result	NOUN
ajeer-7477	211	2	of	of	ADP
ajeer-7477	211	3	threshold	threshold	NOUN
ajeer-7477	211	4	existence	existence	NOUN
ajeer-7477	211	5	.	.	PUNCT
ajeer-7477	212	1	model	model	NOUN
ajeer-7477	212	2	threshold	threshold	PROPN
ajeer-7477	212	3	lower	low	ADJ
ajeer-7477	212	4	upper	upper	ADJ
ajeer-7477	212	5	th-1	th-1	PRON
ajeer-7477	212	6	-0.4253	-0.4253	ADJ
ajeer-7477	212	7	-0.4328	-0.4328	PUNCT
ajeer-7477	213	1	-0.4230	-0.4230	NOUN
ajeer-7477	213	2	th-21	th-21	NUM
ajeer-7477	214	1	-0.4253	-0.4253	ADJ
ajeer-7477	214	2	-0.4328	-0.4328	PUNCT
ajeer-7477	214	3	-0.4230	-0.4230	NOUN
ajeer-7477	214	4	th-22	th-22	NOUN
ajeer-7477	215	1	0.9574	0.9574	NUM
ajeer-7477	215	2	0.8900	0.8900	NUM
ajeer-7477	215	3	1.0078	1.0078	NUM
ajeer-7477	215	4	table	table	NOUN
ajeer-7477	215	5	7	7	NUM
ajeer-7477	215	6	.	.	PUNCT
ajeer-7477	215	7	results	result	NOUN
ajeer-7477	215	8	of	of	ADP
ajeer-7477	215	9	the	the	DET
ajeer-7477	215	10	existence	existence	NOUN
ajeer-7477	215	11	of	of	ADP
ajeer-7477	215	12	the	the	DET
ajeer-7477	215	13	threshold	threshold	NOUN
ajeer-7477	215	14	.	.	PUNCT
ajeer-7477	216	1	threshold	threshold	PROPN
ajeer-7477	216	2	rss	rss	PROPN
ajeer-7477	216	3	mse	mse	PROPN
ajeer-7477	216	4	f	f	PROPN
ajeer-7477	216	5	-	-	PUNCT
ajeer-7477	216	6	stat	stat	PROPN
ajeer-7477	216	7	prob	prob	PROPN
ajeer-7477	216	8	.	.	PUNCT
ajeer-7477	216	9	crit10	crit10	PROPN
ajeer-7477	216	10	crit5	crit5	PROPN
ajeer-7477	216	11	crit1	crit1	PROPN
ajeer-7477	216	12	single	single	ADJ
ajeer-7477	216	13	16.3530	16.3530	NUM
ajeer-7477	216	14	0.0699	0.0699	NUM
ajeer-7477	216	15	135.80	135.80	NUM
ajeer-7477	216	16	0.000	0.000	NUM
ajeer-7477	216	17	42.482	42.482	NUM
ajeer-7477	216	18	48.429	48.429	NUM
ajeer-7477	216	19	64.369	64.369	NUM
ajeer-7477	216	20	double	double	ADJ
ajeer-7477	216	21	13.5138	13.5138	NUM
ajeer-7477	216	22	0.0578	0.0578	NUM
ajeer-7477	216	23	49.16	49.16	NUM
ajeer-7477	216	24	0.000	0.000	NUM
ajeer-7477	216	25	26.020	26.020	NUM
ajeer-7477	216	26	32.071	32.071	NUM
ajeer-7477	216	27	39.525	39.525	NUM
ajeer-7477	216	28	table	table	NOUN
ajeer-7477	216	29	8	8	NUM
ajeer-7477	216	30	.	.	PUNCT
ajeer-7477	217	1	regression	regression	NOUN
ajeer-7477	217	2	results	result	NOUN
ajeer-7477	217	3	of	of	ADP
ajeer-7477	217	4	square	square	ADJ
ajeer-7477	217	5	term	term	NOUN
ajeer-7477	217	6	of	of	ADP
ajeer-7477	217	7	fd	fd	PROPN
ajeer-7477	217	8	with	with	ADP
ajeer-7477	217	9	interaction	interaction	NOUN
ajeer-7477	217	10	term	term	NOUN
ajeer-7477	217	11	of	of	ADP
ajeer-7477	217	12	fo	fo	PROPN
ajeer-7477	217	13	.	.	PUNCT
ajeer-7477	217	14	lnpgdp	lnpgdp	PROPN
ajeer-7477	217	15	coef	coef	PROPN
ajeer-7477	217	16	.	.	PUNCT
ajeer-7477	218	1	st.err	st.err	PROPN
ajeer-7477	218	2	.	.	PROPN
ajeer-7477	219	1	t	t	NOUN
ajeer-7477	219	2	-	-	PUNCT
ajeer-7477	219	3	value	value	NOUN
ajeer-7477	219	4	p	p	NOUN
ajeer-7477	219	5	-	-	PUNCT
ajeer-7477	219	6	value	value	NOUN
ajeer-7477	219	7	[	[	X
ajeer-7477	219	8	95	95	NUM
ajeer-7477	219	9	%	%	NOUN
ajeer-7477	219	10	conf	conf	NOUN
ajeer-7477	219	11	interval	interval	NOUN
ajeer-7477	219	12	]	]	X
ajeer-7477	219	13	sig	sig	NOUN
ajeer-7477	219	14	.	.	PUNCT
ajeer-7477	220	1	fd2fo	fd2fo	PROPN
ajeer-7477	220	2	0.008	0.008	NUM
ajeer-7477	220	3	0.004	0.004	NUM
ajeer-7477	220	4	2.33	2.33	NUM
ajeer-7477	220	5	0.02	0.02	NUM
ajeer-7477	220	6	0.001	0.001	NUM
ajeer-7477	220	7	0.015	0.015	NUM
ajeer-7477	220	8	*	*	PUNCT
ajeer-7477	220	9	*	*	PUNCT
ajeer-7477	220	10	dlngovexp	dlngovexp	NOUN
ajeer-7477	220	11	-1.826	-1.826	NUM
ajeer-7477	220	12	0.452	0.452	NUM
ajeer-7477	220	13	-4.04	-4.04	NUM
ajeer-7477	220	14	0	0	NUM
ajeer-7477	220	15	-2.712	-2.712	NOUN
ajeer-7477	220	16	-0.939	-0.939	PUNCT
ajeer-7477	221	1	*	*	PUNCT
ajeer-7477	221	2	*	*	PUNCT
ajeer-7477	221	3	*	*	PUNCT
ajeer-7477	221	4	dlntei	dlntei	NOUN
ajeer-7477	221	5	-1.041	-1.041	NOUN
ajeer-7477	221	6	0.262	0.262	NUM
ajeer-7477	221	7	-3.98	-3.98	NUM
ajeer-7477	221	8	0	0	NUM
ajeer-7477	222	1	-1.554	-1.554	NUM
ajeer-7477	223	1	-0.528	-0.528	PUNCT
ajeer-7477	223	2	*	*	PUNCT
ajeer-7477	223	3	*	*	PUNCT
ajeer-7477	223	4	*	*	PUNCT
ajeer-7477	223	5	dlnfai	dlnfai	PROPN
ajeer-7477	223	6	-0.345	-0.345	PROPN
ajeer-7477	224	1	0.333	0.333	NUM
ajeer-7477	224	2	-1.04	-1.04	NOUN
ajeer-7477	224	3	0.3	0.3	NUM
ajeer-7477	224	4	-0.998	-0.998	SYM
ajeer-7477	224	5	0.308	0.308	NUM
ajeer-7477	224	6	lnir	lnir	NOUN
ajeer-7477	224	7	1.82	1.82	NUM
ajeer-7477	224	8	1.472	1.472	NUM
ajeer-7477	224	9	1.24	1.24	NUM
ajeer-7477	224	10	0.216	0.216	NUM
ajeer-7477	224	11	-1.064	-1.064	NUM
ajeer-7477	224	12	4.705	4.705	NUM
ajeer-7477	224	13	lnerhe	lnerhe	NOUN
ajeer-7477	224	14	0.769	0.769	NUM
ajeer-7477	224	15	0.056	0.056	NUM
ajeer-7477	224	16	13.65	13.65	NUM
ajeer-7477	224	17	0	0	NUM
ajeer-7477	224	18	0.658	0.658	NUM
ajeer-7477	224	19	0.879	0.879	NUM
ajeer-7477	224	20	*	*	PUNCT
ajeer-7477	224	21	*	*	PUNCT
ajeer-7477	224	22	*	*	PUNCT
ajeer-7477	224	23	constant	constant	ADJ
ajeer-7477	224	24	-1.344	-1.344	NUM
ajeer-7477	224	25	6.791	6.791	NUM
ajeer-7477	224	26	-0.20	-0.20	NUM
ajeer-7477	224	27	0.843	0.843	NUM
ajeer-7477	224	28	-14.654	-14.654	SYM
ajeer-7477	224	29	11.967	11.967	NUM
ajeer-7477	224	30	note	note	NOUN
ajeer-7477	224	31	:	:	PUNCT
ajeer-7477	224	32	*	*	PUNCT
ajeer-7477	224	33	*	*	PUNCT
ajeer-7477	224	34	,	,	PUNCT
ajeer-7477	224	35	*	*	PUNCT
ajeer-7477	224	36	*	*	PUNCT
ajeer-7477	224	37	*	*	PUNCT
ajeer-7477	224	38	indicate	indicate	VERB
ajeer-7477	224	39	the	the	DET
ajeer-7477	224	40	significance	significance	NOUN
ajeer-7477	224	41	level	level	NOUN
ajeer-7477	224	42	at	at	ADP
ajeer-7477	224	43	5	5	NUM
ajeer-7477	224	44	%	%	NOUN
ajeer-7477	224	45	and	and	CCONJ
ajeer-7477	224	46	1	1	NUM
ajeer-7477	224	47	%	%	NOUN
ajeer-7477	224	48	respectively	respectively	ADV
ajeer-7477	224	49	.	.	PUNCT
ajeer-7477	225	1	4.6	4.6	NUM
ajeer-7477	225	2	results	result	NOUN
ajeer-7477	225	3	of	of	ADP
ajeer-7477	225	4	thresh	thresh	PROPN
ajeer-7477	225	5	hold	hold	VERB
ajeer-7477	225	6	regression	regression	NOUN
ajeer-7477	225	7	table	table	NOUN
ajeer-7477	225	8	9	9	NUM
ajeer-7477	225	9	presents	present	VERB
ajeer-7477	225	10	the	the	DET
ajeer-7477	225	11	results	result	NOUN
ajeer-7477	225	12	of	of	ADP
ajeer-7477	225	13	threshold	threshold	NOUN
ajeer-7477	225	14	regression	regression	NOUN
ajeer-7477	225	15	.	.	PUNCT
ajeer-7477	226	1	the	the	DET
ajeer-7477	226	2	threshold	threshold	NOUN
ajeer-7477	226	3	regression	regression	NOUN
ajeer-7477	226	4	results	result	NOUN
ajeer-7477	226	5	reveal	reveal	VERB
ajeer-7477	226	6	that	that	SCONJ
ajeer-7477	226	7	the	the	DET
ajeer-7477	226	8	impact	impact	NOUN
ajeer-7477	226	9	of	of	ADP
ajeer-7477	226	10	financial	financial	ADJ
ajeer-7477	226	11	development	development	NOUN
ajeer-7477	226	12	(	(	PUNCT
ajeer-7477	226	13	fd	fd	PROPN
ajeer-7477	226	14	)	)	PUNCT
ajeer-7477	226	15	on	on	ADP
ajeer-7477	226	16	economic	economic	ADJ
ajeer-7477	226	17	growth	growth	NOUN
ajeer-7477	226	18	(	(	PUNCT
ajeer-7477	226	19	eg	eg	NOUN
ajeer-7477	226	20	)	)	PUNCT
ajeer-7477	226	21	varies	vary	VERB
ajeer-7477	226	22	significantly	significantly	ADV
ajeer-7477	226	23	depending	depend	VERB
ajeer-7477	226	24	on	on	ADP
ajeer-7477	226	25	the	the	DET
ajeer-7477	226	26	degree	degree	NOUN
ajeer-7477	226	27	of	of	ADP
ajeer-7477	226	28	financial	financial	ADJ
ajeer-7477	226	29	openness	openness	NOUN
ajeer-7477	226	30	(	(	PUNCT
ajeer-7477	226	31	fo	fo	NOUN
ajeer-7477	226	32	)	)	PUNCT
ajeer-7477	226	33	,	,	PUNCT
ajeer-7477	226	34	with	with	ADP
ajeer-7477	226	35	two	two	NUM
ajeer-7477	226	36	critical	critical	ADJ
ajeer-7477	226	37	thresholds	threshold	NOUN
ajeer-7477	226	38	identified	identify	VERB
ajeer-7477	226	39	at	at	ADP
ajeer-7477	226	40	0.4253	0.4253	NUM
ajeer-7477	226	41	and	and	CCONJ
ajeer-7477	226	42	0.43720	0.43720	NUM
ajeer-7477	226	43	.	.	PUNCT
ajeer-7477	227	1	in	in	ADP
ajeer-7477	227	2	the	the	DET
ajeer-7477	227	3	first	first	ADJ
ajeer-7477	227	4	regime	regime	NOUN
ajeer-7477	227	5	,	,	PUNCT
ajeer-7477	227	6	where	where	SCONJ
ajeer-7477	227	7	fo	fo	ADV
ajeer-7477	227	8	is	be	AUX
ajeer-7477	227	9	below	below	ADP
ajeer-7477	227	10	0.4253	0.4253	NUM
ajeer-7477	227	11	,	,	PUNCT
ajeer-7477	227	12	fd	fd	PROPN
ajeer-7477	227	13	has	have	VERB
ajeer-7477	227	14	a	a	DET
ajeer-7477	227	15	strong	strong	ADJ
ajeer-7477	227	16	impact	impact	NOUN
ajeer-7477	227	17	on	on	ADP
ajeer-7477	227	18	eg	eg	NOUN
ajeer-7477	227	19	.	.	PUNCT
ajeer-7477	228	1	in	in	ADP
ajeer-7477	228	2	the	the	DET
ajeer-7477	228	3	second	second	ADJ
ajeer-7477	228	4	regime	regime	NOUN
ajeer-7477	228	5	,	,	PUNCT
ajeer-7477	228	6	between	between	ADP
ajeer-7477	228	7	0.4253	0.4253	NUM
ajeer-7477	228	8	and	and	CCONJ
ajeer-7477	228	9	0.43720	0.43720	NUM
ajeer-7477	228	10	,	,	PUNCT
ajeer-7477	228	11	the	the	DET
ajeer-7477	228	12	effect	effect	NOUN
ajeer-7477	228	13	of	of	ADP
ajeer-7477	228	14	fd	fd	PROPN
ajeer-7477	228	15	on	on	ADP
ajeer-7477	228	16	eg	eg	NOUN
ajeer-7477	228	17	diminishes	diminish	VERB
ajeer-7477	228	18	,	,	PUNCT
ajeer-7477	228	19	and	and	CCONJ
ajeer-7477	228	20	in	in	ADP
ajeer-7477	228	21	the	the	DET
ajeer-7477	228	22	third	third	ADJ
ajeer-7477	228	23	regime	regime	NOUN
ajeer-7477	228	24	,	,	PUNCT
ajeer-7477	228	25	where	where	SCONJ
ajeer-7477	228	26	fo	fo	ADP
ajeer-7477	228	27	exceeds	exceed	VERB
ajeer-7477	228	28	0.43720	0.43720	NUM
ajeer-7477	228	29	,	,	PUNCT
ajeer-7477	228	30	the	the	DET
ajeer-7477	228	31	impact	impact	NOUN
ajeer-7477	228	32	of	of	ADP
ajeer-7477	228	33	fd	fd	PROPN
ajeer-7477	228	34	on	on	ADP
ajeer-7477	228	35	eg	eg	NOUN
ajeer-7477	228	36	increases	increase	NOUN
ajeer-7477	228	37	again	again	ADV
ajeer-7477	228	38	,	,	PUNCT
ajeer-7477	228	39	although	although	SCONJ
ajeer-7477	228	40	not	not	PART
ajeer-7477	228	41	reaching	reach	VERB
ajeer-7477	228	42	the	the	DET
ajeer-7477	228	43	magnitude	magnitude	NOUN
ajeer-7477	228	44	seen	see	VERB
ajeer-7477	228	45	in	in	ADP
ajeer-7477	228	46	the	the	DET
ajeer-7477	228	47	most	most	ADV
ajeer-7477	228	48	closed	closed	ADJ
ajeer-7477	228	49	regime	regime	NOUN
ajeer-7477	228	50	.	.	PUNCT
ajeer-7477	229	1	these	these	DET
ajeer-7477	229	2	findings	finding	NOUN
ajeer-7477	229	3	illustrate	illustrate	VERB
ajeer-7477	229	4	a	a	DET
ajeer-7477	229	5	non	non	ADJ
ajeer-7477	229	6	-	-	ADJ
ajeer-7477	229	7	monotonic	monotonic	ADJ
ajeer-7477	229	8	relationship	relationship	NOUN
ajeer-7477	229	9	asian	asian	ADJ
ajeer-7477	229	10	journal	journal	PROPN
ajeer-7477	229	11	of	of	ADP
ajeer-7477	229	12	economics	economic	NOUN
ajeer-7477	229	13	and	and	CCONJ
ajeer-7477	229	14	empirical	empirical	ADJ
ajeer-7477	229	15	research	research	NOUN
ajeer-7477	229	16	,	,	PUNCT
ajeer-7477	229	17	2025	2025	NUM
ajeer-7477	229	18	,	,	PUNCT
ajeer-7477	229	19	12(2	12(2	NUM
ajeer-7477	229	20	):	):	PUNCT
ajeer-7477	229	21	104	104	NUM
ajeer-7477	229	22	-	-	SYM
ajeer-7477	229	23	112	112	NUM
ajeer-7477	229	24	111	111	NUM
ajeer-7477	229	25	©	©	PROPN
ajeer-7477	229	26	2025	2025	NUM
ajeer-7477	229	27	by	by	ADP
ajeer-7477	229	28	the	the	DET
ajeer-7477	229	29	authors	author	NOUN
ajeer-7477	229	30	;	;	PUNCT
ajeer-7477	229	31	licensee	licensee	PROPN
ajeer-7477	229	32	asian	asian	ADJ
ajeer-7477	229	33	online	online	PROPN
ajeer-7477	229	34	journal	journal	PROPN
ajeer-7477	229	35	publishing	publishing	NOUN
ajeer-7477	229	36	group	group	NOUN
ajeer-7477	229	37	that	that	PRON
ajeer-7477	229	38	echoes	echo	VERB
ajeer-7477	229	39	previous	previous	ADJ
ajeer-7477	229	40	research	research	NOUN
ajeer-7477	229	41	(	(	PUNCT
ajeer-7477	229	42	e.g.	e.g.	ADV
ajeer-7477	229	43	,	,	PUNCT
ajeer-7477	229	44	(	(	PUNCT
ajeer-7477	229	45	chinn	chinn	PROPN
ajeer-7477	229	46	&	&	CCONJ
ajeer-7477	229	47	ito	ito	PROPN
ajeer-7477	229	48	,	,	PUNCT
ajeer-7477	229	49	2006	2006	NUM
ajeer-7477	229	50	;	;	PUNCT
ajeer-7477	229	51	hansen	hansen	PROPN
ajeer-7477	229	52	,	,	PUNCT
ajeer-7477	229	53	1999	1999	NUM
ajeer-7477	229	54	)	)	PUNCT
ajeer-7477	229	55	)	)	PUNCT
ajeer-7477	229	56	but	but	CCONJ
ajeer-7477	229	57	also	also	ADV
ajeer-7477	229	58	adds	add	VERB
ajeer-7477	229	59	nuance	nuance	NOUN
ajeer-7477	229	60	by	by	ADP
ajeer-7477	229	61	showing	show	VERB
ajeer-7477	229	62	that	that	SCONJ
ajeer-7477	229	63	the	the	DET
ajeer-7477	229	64	relationship	relationship	NOUN
ajeer-7477	229	65	is	be	AUX
ajeer-7477	229	66	more	more	ADV
ajeer-7477	229	67	complex	complex	ADJ
ajeer-7477	229	68	than	than	ADP
ajeer-7477	229	69	a	a	DET
ajeer-7477	229	70	simple	simple	ADJ
ajeer-7477	229	71	linear	linear	NOUN
ajeer-7477	229	72	complementarity	complementarity	NOUN
ajeer-7477	229	73	between	between	ADP
ajeer-7477	229	74	financial	financial	ADJ
ajeer-7477	229	75	development	development	NOUN
ajeer-7477	229	76	and	and	CCONJ
ajeer-7477	229	77	openness	openness	NOUN
ajeer-7477	229	78	.	.	PUNCT
ajeer-7477	230	1	turning	turn	VERB
ajeer-7477	230	2	to	to	ADP
ajeer-7477	230	3	the	the	DET
ajeer-7477	230	4	control	control	NOUN
ajeer-7477	230	5	variables	variable	NOUN
ajeer-7477	230	6	,	,	PUNCT
ajeer-7477	230	7	our	our	PRON
ajeer-7477	230	8	analysis	analysis	NOUN
ajeer-7477	230	9	indicates	indicate	VERB
ajeer-7477	230	10	that	that	SCONJ
ajeer-7477	230	11	all	all	DET
ajeer-7477	230	12	control	control	NOUN
ajeer-7477	230	13	variables	variable	NOUN
ajeer-7477	230	14	have	have	VERB
ajeer-7477	230	15	negative	negative	ADJ
ajeer-7477	230	16	coefficients	coefficient	NOUN
ajeer-7477	230	17	except	except	SCONJ
ajeer-7477	230	18	for	for	ADP
ajeer-7477	230	19	the	the	DET
ajeer-7477	230	20	inflation	inflation	NOUN
ajeer-7477	230	21	rate	rate	NOUN
ajeer-7477	230	22	(	(	PUNCT
ajeer-7477	230	23	lnir	lnir	NOUN
ajeer-7477	230	24	)	)	PUNCT
ajeer-7477	230	25	,	,	PUNCT
ajeer-7477	230	26	which	which	PRON
ajeer-7477	230	27	is	be	AUX
ajeer-7477	230	28	positive	positive	ADJ
ajeer-7477	230	29	.	.	PUNCT
ajeer-7477	231	1	specifically	specifically	ADV
ajeer-7477	231	2	,	,	PUNCT
ajeer-7477	231	3	government	government	NOUN
ajeer-7477	231	4	expenditure	expenditure	NOUN
ajeer-7477	231	5	(	(	PUNCT
ajeer-7477	231	6	dlngovexp	dlngovexp	NOUN
ajeer-7477	231	7	)	)	PUNCT
ajeer-7477	231	8	,	,	PUNCT
ajeer-7477	231	9	trade	trade	NOUN
ajeer-7477	231	10	openness	openness	NOUN
ajeer-7477	231	11	(	(	PUNCT
ajeer-7477	231	12	dlntei	dlntei	NOUN
ajeer-7477	231	13	)	)	PUNCT
ajeer-7477	231	14	,	,	PUNCT
ajeer-7477	231	15	and	and	CCONJ
ajeer-7477	231	16	higher	high	ADJ
ajeer-7477	231	17	education	education	NOUN
ajeer-7477	231	18	enrollment	enrollment	NOUN
ajeer-7477	231	19	(	(	PUNCT
ajeer-7477	231	20	dlnrhe	dlnrhe	NOUN
ajeer-7477	231	21	)	)	PUNCT
ajeer-7477	231	22	are	be	AUX
ajeer-7477	231	23	all	all	PRON
ajeer-7477	231	24	negatively	negatively	ADV
ajeer-7477	231	25	and	and	CCONJ
ajeer-7477	231	26	statistically	statistically	ADV
ajeer-7477	231	27	significantly	significantly	ADV
ajeer-7477	231	28	associated	associate	VERB
ajeer-7477	231	29	with	with	ADP
ajeer-7477	231	30	economic	economic	ADJ
ajeer-7477	231	31	growth	growth	NOUN
ajeer-7477	231	32	.	.	PUNCT
ajeer-7477	232	1	this	this	PRON
ajeer-7477	232	2	suggests	suggest	VERB
ajeer-7477	232	3	that	that	SCONJ
ajeer-7477	232	4	,	,	PUNCT
ajeer-7477	232	5	within	within	ADP
ajeer-7477	232	6	our	our	PRON
ajeer-7477	232	7	sample	sample	NOUN
ajeer-7477	232	8	,	,	PUNCT
ajeer-7477	232	9	higher	high	ADJ
ajeer-7477	232	10	levels	level	NOUN
ajeer-7477	232	11	of	of	ADP
ajeer-7477	232	12	public	public	ADJ
ajeer-7477	232	13	spending	spending	NOUN
ajeer-7477	232	14	,	,	PUNCT
ajeer-7477	232	15	international	international	ADJ
ajeer-7477	232	16	trade	trade	NOUN
ajeer-7477	232	17	,	,	PUNCT
ajeer-7477	232	18	and	and	CCONJ
ajeer-7477	232	19	human	human	ADJ
ajeer-7477	232	20	capital	capital	NOUN
ajeer-7477	232	21	investment	investment	NOUN
ajeer-7477	232	22	are	be	AUX
ajeer-7477	232	23	linked	link	VERB
ajeer-7477	232	24	with	with	ADP
ajeer-7477	232	25	lower	low	ADJ
ajeer-7477	232	26	economic	economic	ADJ
ajeer-7477	232	27	performance	performance	NOUN
ajeer-7477	232	28	possibly	possibly	ADV
ajeer-7477	232	29	reflecting	reflect	VERB
ajeer-7477	232	30	inefficiencies	inefficiency	NOUN
ajeer-7477	232	31	,	,	PUNCT
ajeer-7477	232	32	structural	structural	ADJ
ajeer-7477	232	33	distortions	distortion	NOUN
ajeer-7477	232	34	,	,	PUNCT
ajeer-7477	232	35	or	or	CCONJ
ajeer-7477	232	36	even	even	ADV
ajeer-7477	232	37	overextension	overextension	NOUN
ajeer-7477	232	38	in	in	ADP
ajeer-7477	232	39	these	these	DET
ajeer-7477	232	40	areas	area	NOUN
ajeer-7477	232	41	.	.	PUNCT
ajeer-7477	233	1	fixed	fix	VERB
ajeer-7477	233	2	asset	asset	NOUN
ajeer-7477	233	3	investment	investment	NOUN
ajeer-7477	233	4	(	(	PUNCT
ajeer-7477	233	5	dlnfai	dlnfai	NOUN
ajeer-7477	233	6	)	)	PUNCT
ajeer-7477	233	7	,	,	PUNCT
ajeer-7477	233	8	however	however	ADV
ajeer-7477	233	9	,	,	PUNCT
ajeer-7477	233	10	is	be	AUX
ajeer-7477	233	11	not	not	PART
ajeer-7477	233	12	statistically	statistically	ADV
ajeer-7477	233	13	significant	significant	ADJ
ajeer-7477	233	14	,	,	PUNCT
ajeer-7477	233	15	implying	imply	VERB
ajeer-7477	233	16	that	that	SCONJ
ajeer-7477	233	17	its	its	PRON
ajeer-7477	233	18	role	role	NOUN
ajeer-7477	233	19	in	in	ADP
ajeer-7477	233	20	influencing	influence	VERB
ajeer-7477	233	21	growth	growth	NOUN
ajeer-7477	233	22	may	may	AUX
ajeer-7477	233	23	be	be	AUX
ajeer-7477	233	24	less	less	ADV
ajeer-7477	233	25	clear	clear	ADJ
ajeer-7477	233	26	or	or	CCONJ
ajeer-7477	233	27	is	be	AUX
ajeer-7477	233	28	overshadowed	overshadow	VERB
ajeer-7477	233	29	by	by	ADP
ajeer-7477	233	30	the	the	DET
ajeer-7477	233	31	dynamics	dynamic	NOUN
ajeer-7477	233	32	between	between	ADP
ajeer-7477	233	33	fd	fd	PROPN
ajeer-7477	233	34	and	and	CCONJ
ajeer-7477	233	35	fo	fo	NOUN
ajeer-7477	233	36	.	.	PUNCT
ajeer-7477	234	1	these	these	DET
ajeer-7477	234	2	contrasting	contrast	VERB
ajeer-7477	234	3	effects	effect	NOUN
ajeer-7477	234	4	among	among	ADP
ajeer-7477	234	5	the	the	DET
ajeer-7477	234	6	control	control	NOUN
ajeer-7477	234	7	variables	variable	NOUN
ajeer-7477	234	8	diverge	diverge	VERB
ajeer-7477	234	9	from	from	ADP
ajeer-7477	234	10	some	some	DET
ajeer-7477	234	11	existing	exist	VERB
ajeer-7477	234	12	studies	study	NOUN
ajeer-7477	234	13	that	that	PRON
ajeer-7477	234	14	typically	typically	ADV
ajeer-7477	234	15	report	report	VERB
ajeer-7477	234	16	positive	positive	ADJ
ajeer-7477	234	17	impacts	impact	NOUN
ajeer-7477	234	18	of	of	ADP
ajeer-7477	234	19	trade	trade	NOUN
ajeer-7477	234	20	openness	openness	NOUN
ajeer-7477	234	21	and	and	CCONJ
ajeer-7477	234	22	human	human	ADJ
ajeer-7477	234	23	capital	capital	NOUN
ajeer-7477	234	24	on	on	ADP
ajeer-7477	234	25	growth	growth	NOUN
ajeer-7477	234	26	(	(	PUNCT
ajeer-7477	234	27	e.g.	e.g.	ADV
ajeer-7477	234	28	,	,	PUNCT
ajeer-7477	234	29	levine	levine	PROPN
ajeer-7477	234	30	,	,	PUNCT
ajeer-7477	234	31	2005	2005	NUM
ajeer-7477	234	32	;	;	PUNCT
ajeer-7477	234	33	king	king	PROPN
ajeer-7477	234	34	&	&	CCONJ
ajeer-7477	234	35	levine	levine	PROPN
ajeer-7477	234	36	,	,	PUNCT
ajeer-7477	234	37	1993	1993	NUM
ajeer-7477	234	38	)	)	PUNCT
ajeer-7477	234	39	.	.	PUNCT
ajeer-7477	235	1	the	the	DET
ajeer-7477	235	2	unexpected	unexpected	ADJ
ajeer-7477	235	3	negative	negative	ADJ
ajeer-7477	235	4	signs	sign	NOUN
ajeer-7477	235	5	in	in	ADP
ajeer-7477	235	6	our	our	PRON
ajeer-7477	235	7	findings	finding	NOUN
ajeer-7477	235	8	could	could	AUX
ajeer-7477	235	9	point	point	VERB
ajeer-7477	235	10	to	to	ADP
ajeer-7477	235	11	region	region	NOUN
ajeer-7477	235	12	-	-	PUNCT
ajeer-7477	235	13	specific	specific	ADJ
ajeer-7477	235	14	issues	issue	NOUN
ajeer-7477	235	15	or	or	CCONJ
ajeer-7477	235	16	transitional	transitional	ADJ
ajeer-7477	235	17	challenges	challenge	NOUN
ajeer-7477	235	18	in	in	ADP
ajeer-7477	235	19	china	china	PROPN
ajeer-7477	235	20	's	's	PART
ajeer-7477	235	21	urban	urban	ADJ
ajeer-7477	235	22	agglomerations	agglomeration	NOUN
ajeer-7477	235	23	that	that	PRON
ajeer-7477	235	24	merit	merit	VERB
ajeer-7477	235	25	further	further	ADJ
ajeer-7477	235	26	investigation	investigation	NOUN
ajeer-7477	235	27	.	.	PUNCT
ajeer-7477	236	1	meanwhile	meanwhile	ADV
ajeer-7477	236	2	,	,	PUNCT
ajeer-7477	236	3	the	the	DET
ajeer-7477	236	4	positive	positive	ADJ
ajeer-7477	236	5	coefficient	coefficient	NOUN
ajeer-7477	236	6	for	for	ADP
ajeer-7477	236	7	inflation	inflation	NOUN
ajeer-7477	236	8	suggests	suggest	VERB
ajeer-7477	236	9	that	that	SCONJ
ajeer-7477	236	10	,	,	PUNCT
ajeer-7477	236	11	under	under	ADP
ajeer-7477	236	12	certain	certain	ADJ
ajeer-7477	236	13	conditions	condition	NOUN
ajeer-7477	236	14	,	,	PUNCT
ajeer-7477	236	15	a	a	DET
ajeer-7477	236	16	moderate	moderate	ADJ
ajeer-7477	236	17	increase	increase	NOUN
ajeer-7477	236	18	in	in	ADP
ajeer-7477	236	19	inflation	inflation	NOUN
ajeer-7477	236	20	might	might	AUX
ajeer-7477	236	21	be	be	AUX
ajeer-7477	236	22	associated	associate	VERB
ajeer-7477	236	23	with	with	ADP
ajeer-7477	236	24	increased	increase	VERB
ajeer-7477	236	25	economic	economic	ADJ
ajeer-7477	236	26	activity	activity	NOUN
ajeer-7477	236	27	a	a	DET
ajeer-7477	236	28	finding	finding	NOUN
ajeer-7477	236	29	that	that	PRON
ajeer-7477	236	30	aligns	align	VERB
ajeer-7477	236	31	with	with	ADP
ajeer-7477	236	32	literature	literature	NOUN
ajeer-7477	236	33	indicating	indicate	VERB
ajeer-7477	236	34	that	that	SCONJ
ajeer-7477	236	35	,	,	PUNCT
ajeer-7477	236	36	within	within	ADP
ajeer-7477	236	37	certain	certain	ADJ
ajeer-7477	236	38	limits	limit	NOUN
ajeer-7477	236	39	,	,	PUNCT
ajeer-7477	236	40	inflation	inflation	NOUN
ajeer-7477	236	41	can	can	AUX
ajeer-7477	236	42	accompany	accompany	VERB
ajeer-7477	236	43	periods	period	NOUN
ajeer-7477	236	44	of	of	ADP
ajeer-7477	236	45	robust	robust	ADJ
ajeer-7477	236	46	economic	economic	ADJ
ajeer-7477	236	47	demand	demand	NOUN
ajeer-7477	236	48	.	.	PUNCT
ajeer-7477	237	1	overall	overall	ADV
ajeer-7477	237	2	,	,	PUNCT
ajeer-7477	237	3	these	these	DET
ajeer-7477	237	4	results	result	NOUN
ajeer-7477	237	5	underscore	underscore	VERB
ajeer-7477	237	6	the	the	DET
ajeer-7477	237	7	complexity	complexity	NOUN
ajeer-7477	237	8	of	of	ADP
ajeer-7477	237	9	the	the	DET
ajeer-7477	237	10	finance	finance	NOUN
ajeer-7477	237	11	-	-	PUNCT
ajeer-7477	237	12	growth	growth	NOUN
ajeer-7477	237	13	nexus	nexus	NOUN
ajeer-7477	237	14	.	.	PUNCT
ajeer-7477	238	1	they	they	PRON
ajeer-7477	238	2	highlight	highlight	VERB
ajeer-7477	238	3	that	that	SCONJ
ajeer-7477	238	4	the	the	DET
ajeer-7477	238	5	effectiveness	effectiveness	NOUN
ajeer-7477	238	6	of	of	ADP
ajeer-7477	238	7	financial	financial	ADJ
ajeer-7477	238	8	development	development	NOUN
ajeer-7477	238	9	in	in	ADP
ajeer-7477	238	10	promoting	promote	VERB
ajeer-7477	238	11	growth	growth	NOUN
ajeer-7477	238	12	is	be	AUX
ajeer-7477	238	13	contingent	contingent	ADJ
ajeer-7477	238	14	on	on	ADP
ajeer-7477	238	15	the	the	DET
ajeer-7477	238	16	level	level	NOUN
ajeer-7477	238	17	of	of	ADP
ajeer-7477	238	18	financial	financial	ADJ
ajeer-7477	238	19	openness	openness	NOUN
ajeer-7477	238	20	and	and	CCONJ
ajeer-7477	238	21	that	that	SCONJ
ajeer-7477	238	22	the	the	DET
ajeer-7477	238	23	broader	broad	ADJ
ajeer-7477	238	24	economic	economic	ADJ
ajeer-7477	238	25	environment	environment	NOUN
ajeer-7477	238	26	,	,	PUNCT
ajeer-7477	238	27	as	as	SCONJ
ajeer-7477	238	28	reflected	reflect	VERB
ajeer-7477	238	29	in	in	ADP
ajeer-7477	238	30	the	the	DET
ajeer-7477	238	31	behavior	behavior	NOUN
ajeer-7477	238	32	of	of	ADP
ajeer-7477	238	33	control	control	NOUN
ajeer-7477	238	34	variables	variable	NOUN
ajeer-7477	238	35	,	,	PUNCT
ajeer-7477	238	36	plays	play	VERB
ajeer-7477	238	37	a	a	DET
ajeer-7477	238	38	crucial	crucial	ADJ
ajeer-7477	238	39	role	role	NOUN
ajeer-7477	238	40	.	.	PUNCT
ajeer-7477	239	1	this	this	DET
ajeer-7477	239	2	nuanced	nuanced	ADJ
ajeer-7477	239	3	understanding	understanding	NOUN
ajeer-7477	239	4	calls	call	VERB
ajeer-7477	239	5	for	for	SCONJ
ajeer-7477	239	6	policymakers	policymaker	NOUN
ajeer-7477	239	7	to	to	PART
ajeer-7477	239	8	consider	consider	VERB
ajeer-7477	239	9	these	these	DET
ajeer-7477	239	10	dynamics	dynamic	NOUN
ajeer-7477	239	11	carefully	carefully	ADV
ajeer-7477	239	12	when	when	SCONJ
ajeer-7477	239	13	designing	designing	NOUN
ajeer-7477	239	14	strategies	strategy	NOUN
ajeer-7477	239	15	aimed	aim	VERB
ajeer-7477	239	16	at	at	ADP
ajeer-7477	239	17	leveraging	leverage	VERB
ajeer-7477	239	18	financial	financial	ADJ
ajeer-7477	239	19	reforms	reform	NOUN
ajeer-7477	239	20	to	to	PART
ajeer-7477	239	21	stimulate	stimulate	VERB
ajeer-7477	239	22	sustainable	sustainable	ADJ
ajeer-7477	239	23	economic	economic	ADJ
ajeer-7477	239	24	growth	growth	NOUN
ajeer-7477	239	25	.	.	PUNCT
ajeer-7477	240	1	table	table	NOUN
ajeer-7477	240	2	9	9	NUM
ajeer-7477	240	3	.	.	PUNCT
ajeer-7477	241	1	results	result	NOUN
ajeer-7477	241	2	of	of	ADP
ajeer-7477	241	3	thresh	thresh	PROPN
ajeer-7477	241	4	hold	hold	VERB
ajeer-7477	241	5	regression	regression	NOUN
ajeer-7477	241	6	.	.	PUNCT
ajeer-7477	242	1	lnpgdp	lnpgdp	PROPN
ajeer-7477	242	2	coefficient	coefficient	NOUN
ajeer-7477	242	3	std.err	std.err	PROPN
ajeer-7477	242	4	.	.	PUNCT
ajeer-7477	242	5	t	t	PROPN
ajeer-7477	242	6	p_value	p_value	NOUN
ajeer-7477	242	7	[	[	X
ajeer-7477	242	8	95	95	NUM
ajeer-7477	242	9	%	%	NOUN
ajeer-7477	242	10	conf	conf	NOUN
ajeer-7477	242	11	.	.	PUNCT
ajeer-7477	243	1	interval	interval	NOUN
ajeer-7477	243	2	]	]	PUNCT
ajeer-7477	244	1	dlngovexp	dlngovexp	NOUN
ajeer-7477	244	2	-0.441	-0.441	NUM
ajeer-7477	244	3	0.183	0.183	NUM
ajeer-7477	244	4	-2.41	-2.41	NUM
ajeer-7477	244	5	0.017	0.017	NUM
ajeer-7477	244	6	-0.801	-0.801	PRON
ajeer-7477	244	7	-0.081	-0.081	PROPN
ajeer-7477	244	8	dlntei	dlntei	NOUN
ajeer-7477	244	9	-0.458	-0.458	PROPN
ajeer-7477	244	10	0.105	0.105	NUM
ajeer-7477	244	11	-4.37	-4.37	NUM
ajeer-7477	244	12	0.000	0.000	NUM
ajeer-7477	244	13	-0.665	-0.665	PUNCT
ajeer-7477	244	14	-0.252	-0.252	PROPN
ajeer-7477	244	15	dlnfai	dlnfai	NOUN
ajeer-7477	244	16	-0.040	-0.040	NUM
ajeer-7477	244	17	0.128	0.128	NUM
ajeer-7477	244	18	-0.31	-0.31	NUM
ajeer-7477	244	19	0.753	0.753	NUM
ajeer-7477	244	20	-0.293	-0.293	NUM
ajeer-7477	244	21	0.213	0.213	NUM
ajeer-7477	244	22	lnir	lnir	NOUN
ajeer-7477	244	23	1.101	1.101	NUM
ajeer-7477	244	24	0.575	0.575	NUM
ajeer-7477	244	25	1.91	1.91	NUM
ajeer-7477	244	26	0.057	0.057	NUM
ajeer-7477	244	27	-0.032	-0.032	ADP
ajeer-7477	244	28	2.234	2.234	NUM
ajeer-7477	244	29	lnerhe	lnerhe	NOUN
ajeer-7477	244	30	0.538	0.538	NUM
ajeer-7477	244	31	0.035	0.035	NUM
ajeer-7477	244	32	15.10	15.10	NUM
ajeer-7477	244	33	0.000	0.000	NUM
ajeer-7477	244	34	0.467	0.467	NUM
ajeer-7477	244	35	0.607	0.607	NUM
ajeer-7477	244	36	_	_	PRON
ajeer-7477	244	37	cot#c.fo	cot#c.fo	ADJ
ajeer-7477	244	38	𝐹𝐷(𝐹𝑂	𝐹𝐷(𝐹𝑂	PUNCT
ajeer-7477	244	39	≤	≤	NUM
ajeer-7477	244	40	3.1046	3.1046	NUM
ajeer-7477	244	41	)	)	PUNCT
ajeer-7477	244	42	1.709	1.709	NUM
ajeer-7477	244	43	0.096	0.096	NUM
ajeer-7477	244	44	17.66	17.66	NUM
ajeer-7477	244	45	0.000	0.000	NUM
ajeer-7477	244	46	1.519	1.519	NUM
ajeer-7477	244	47	1.900	1.900	NUM
ajeer-7477	244	48	𝐹𝐷(3.1046	𝐹𝐷(3.1046	NOUN
ajeer-7477	244	49	<	<	X
ajeer-7477	244	50	𝐹𝑂	𝐹𝑂	PROPN
ajeer-7477	244	51	≤	≤	NOUN
ajeer-7477	244	52	4.3720	4.3720	NUM
ajeer-7477	244	53	)	)	PUNCT
ajeer-7477	244	54	1.115	1.115	NUM
ajeer-7477	244	55	0.075	0.075	NUM
ajeer-7477	244	56	14.83	14.83	NUM
ajeer-7477	244	57	0.000	0.000	NUM
ajeer-7477	244	58	0.967	0.967	NUM
ajeer-7477	244	59	1.263	1.263	NUM
ajeer-7477	244	60	𝐹𝐷(𝐹𝑂	𝐹𝐷(𝐹𝑂	PUNCT
ajeer-7477	244	61	>	>	X
ajeer-7477	244	62	4.3720	4.3720	NUM
ajeer-7477	244	63	)	)	PUNCT
ajeer-7477	244	64	0.320	0.320	NUM
ajeer-7477	244	65	0.025	0.025	NUM
ajeer-7477	244	66	12.96	12.96	NUM
ajeer-7477	244	67	0.000	0.000	NUM
ajeer-7477	244	68	0.272	0.272	NUM
ajeer-7477	244	69	0.369	0.369	NUM
ajeer-7477	245	1	_	_	NOUN
ajeer-7477	245	2	cons	con	NOUN
ajeer-7477	245	3	2.625	2.625	NUM
ajeer-7477	245	4	2.656	2.656	NUM
ajeer-7477	245	5	0.99	0.99	NUM
ajeer-7477	245	6	0.323	0.323	NUM
ajeer-7477	245	7	-2.602	-2.602	NUM
ajeer-7477	245	8	7.859	7.859	NUM
ajeer-7477	245	9	sigma_u	sigma_u	NOUN
ajeer-7477	245	10	1.562	1.562	NUM
ajeer-7477	245	11	sigma_e	sigma_e	NOUN
ajeer-7477	245	12	0.224	0.224	NUM
ajeer-7477	245	13	rho	rho	ADJ
ajeer-7477	245	14	0.979	0.979	NUM
ajeer-7477	245	15	(	(	PUNCT
ajeer-7477	245	16	fraction	fraction	NOUN
ajeer-7477	245	17	of	of	ADP
ajeer-7477	245	18	variance	variance	NOUN
ajeer-7477	245	19	due	due	ADP
ajeer-7477	245	20	to	to	ADP
ajeer-7477	245	21	u_i	u_i	NUM
ajeer-7477	245	22	)	)	PUNCT
ajeer-7477	245	23	f	f	PROPN
ajeer-7477	245	24	test	test	NOUN
ajeer-7477	245	25	that	that	PRON
ajeer-7477	245	26	all	all	DET
ajeer-7477	245	27	u_i=0	u_i=0	ADJ
ajeer-7477	245	28	:	:	PUNCT
ajeer-7477	245	29	f(9,243)=387.69	f(9,243)=387.69	ADJ
ajeer-7477	245	30	prob	prob	PROPN
ajeer-7477	245	31	>	>	X
ajeer-7477	245	32	f=0.0000	f=0.0000	PROPN
ajeer-7477	245	33	5	5	NUM
ajeer-7477	245	34	.	.	PUNCT
ajeer-7477	245	35	policy	policy	NOUN
ajeer-7477	245	36	implications	implication	NOUN
ajeer-7477	245	37	and	and	CCONJ
ajeer-7477	245	38	conclusion	conclusion	NOUN
ajeer-7477	245	39	based	base	VERB
ajeer-7477	245	40	on	on	ADP
ajeer-7477	245	41	these	these	DET
ajeer-7477	245	42	findings	finding	NOUN
ajeer-7477	245	43	,	,	PUNCT
ajeer-7477	245	44	several	several	ADJ
ajeer-7477	245	45	key	key	ADJ
ajeer-7477	245	46	policy	policy	NOUN
ajeer-7477	245	47	implications	implication	NOUN
ajeer-7477	245	48	emerge	emerge	VERB
ajeer-7477	245	49	.	.	PUNCT
ajeer-7477	246	1	first	first	ADV
ajeer-7477	246	2	,	,	PUNCT
ajeer-7477	246	3	the	the	DET
ajeer-7477	246	4	results	result	NOUN
ajeer-7477	246	5	highlight	highlight	VERB
ajeer-7477	246	6	that	that	SCONJ
ajeer-7477	246	7	the	the	DET
ajeer-7477	246	8	effectiveness	effectiveness	NOUN
ajeer-7477	246	9	of	of	ADP
ajeer-7477	246	10	financial	financial	ADJ
ajeer-7477	246	11	development	development	NOUN
ajeer-7477	246	12	(	(	PUNCT
ajeer-7477	246	13	fd	fd	PROPN
ajeer-7477	246	14	)	)	PUNCT
ajeer-7477	246	15	on	on	ADP
ajeer-7477	246	16	economic	economic	ADJ
ajeer-7477	246	17	growth	growth	NOUN
ajeer-7477	246	18	(	(	PUNCT
ajeer-7477	246	19	eg	eg	NOUN
ajeer-7477	246	20	)	)	PUNCT
ajeer-7477	246	21	is	be	AUX
ajeer-7477	246	22	not	not	PART
ajeer-7477	246	23	uniform	uniform	ADJ
ajeer-7477	246	24	but	but	CCONJ
ajeer-7477	246	25	rather	rather	ADV
ajeer-7477	246	26	depends	depend	VERB
ajeer-7477	246	27	on	on	ADP
ajeer-7477	246	28	the	the	DET
ajeer-7477	246	29	level	level	NOUN
ajeer-7477	246	30	of	of	ADP
ajeer-7477	246	31	financial	financial	ADJ
ajeer-7477	246	32	openness	openness	NOUN
ajeer-7477	246	33	(	(	PUNCT
ajeer-7477	246	34	fo	fo	NOUN
ajeer-7477	246	35	)	)	PUNCT
ajeer-7477	246	36	.	.	PUNCT
ajeer-7477	247	1	in	in	ADP
ajeer-7477	247	2	relatively	relatively	ADV
ajeer-7477	247	3	closed	closed	ADJ
ajeer-7477	247	4	financial	financial	ADJ
ajeer-7477	247	5	environments	environment	NOUN
ajeer-7477	247	6	(	(	PUNCT
ajeer-7477	247	7	fo	fo	ADP
ajeer-7477	247	8	below	below	ADP
ajeer-7477	247	9	0.4253	0.4253	NUM
ajeer-7477	247	10	)	)	PUNCT
ajeer-7477	247	11	,	,	PUNCT
ajeer-7477	247	12	robust	robust	ADJ
ajeer-7477	247	13	domestic	domestic	ADJ
ajeer-7477	247	14	financial	financial	ADJ
ajeer-7477	247	15	development	development	NOUN
ajeer-7477	247	16	plays	play	VERB
ajeer-7477	247	17	a	a	DET
ajeer-7477	247	18	critical	critical	ADJ
ajeer-7477	247	19	role	role	NOUN
ajeer-7477	247	20	in	in	ADP
ajeer-7477	247	21	driving	drive	VERB
ajeer-7477	247	22	growth	growth	NOUN
ajeer-7477	247	23	.	.	PUNCT
ajeer-7477	248	1	however	however	ADV
ajeer-7477	248	2	,	,	PUNCT
ajeer-7477	248	3	in	in	ADP
ajeer-7477	248	4	regimes	regime	NOUN
ajeer-7477	248	5	with	with	ADP
ajeer-7477	248	6	moderate	moderate	ADJ
ajeer-7477	248	7	financial	financial	ADJ
ajeer-7477	248	8	openness	openness	NOUN
ajeer-7477	248	9	(	(	PUNCT
ajeer-7477	248	10	between	between	ADP
ajeer-7477	248	11	0.4253	0.4253	NUM
ajeer-7477	248	12	and	and	CCONJ
ajeer-7477	248	13	0.43720	0.43720	NUM
ajeer-7477	248	14	)	)	PUNCT
ajeer-7477	248	15	,	,	PUNCT
ajeer-7477	248	16	the	the	DET
ajeer-7477	248	17	positive	positive	ADJ
ajeer-7477	248	18	impact	impact	NOUN
ajeer-7477	248	19	of	of	ADP
ajeer-7477	248	20	fd	fd	PROPN
ajeer-7477	248	21	on	on	ADP
ajeer-7477	248	22	growth	growth	NOUN
ajeer-7477	248	23	diminishes	diminish	VERB
ajeer-7477	248	24	,	,	PUNCT
ajeer-7477	248	25	suggesting	suggest	VERB
ajeer-7477	248	26	that	that	SCONJ
ajeer-7477	248	27	this	this	DET
ajeer-7477	248	28	intermediate	intermediate	ADJ
ajeer-7477	248	29	stage	stage	NOUN
ajeer-7477	248	30	may	may	AUX
ajeer-7477	248	31	involve	involve	VERB
ajeer-7477	248	32	transitional	transitional	ADJ
ajeer-7477	248	33	challenges	challenge	NOUN
ajeer-7477	248	34	or	or	CCONJ
ajeer-7477	248	35	inefficiencies	inefficiency	NOUN
ajeer-7477	248	36	.	.	PUNCT
ajeer-7477	249	1	when	when	SCONJ
ajeer-7477	249	2	fo	fo	ADP
ajeer-7477	249	3	exceeds	exceed	VERB
ajeer-7477	249	4	0.43720	0.43720	NUM
ajeer-7477	249	5	,	,	PUNCT
ajeer-7477	249	6	fd	fd	PROPN
ajeer-7477	249	7	’s	’s	PART
ajeer-7477	249	8	impact	impact	NOUN
ajeer-7477	249	9	on	on	ADP
ajeer-7477	249	10	growth	growth	NOUN
ajeer-7477	249	11	increases	increase	NOUN
ajeer-7477	249	12	again	again	ADV
ajeer-7477	249	13	,	,	PUNCT
ajeer-7477	249	14	albeit	albeit	SCONJ
ajeer-7477	249	15	not	not	PART
ajeer-7477	249	16	to	to	ADP
ajeer-7477	249	17	the	the	DET
ajeer-7477	249	18	extent	extent	NOUN
ajeer-7477	249	19	observed	observe	VERB
ajeer-7477	249	20	in	in	ADP
ajeer-7477	249	21	more	more	ADJ
ajeer-7477	249	22	closed	closed	ADJ
ajeer-7477	249	23	regimes	regime	NOUN
ajeer-7477	249	24	.	.	PUNCT
ajeer-7477	250	1	this	this	DET
ajeer-7477	250	2	non	non	ADJ
ajeer-7477	250	3	-	-	ADJ
ajeer-7477	250	4	monotonic	monotonic	ADJ
ajeer-7477	250	5	pattern	pattern	NOUN
ajeer-7477	250	6	implies	imply	VERB
ajeer-7477	250	7	that	that	SCONJ
ajeer-7477	250	8	policymakers	policymaker	NOUN
ajeer-7477	250	9	should	should	AUX
ajeer-7477	250	10	tailor	tailor	VERB
ajeer-7477	250	11	financial	financial	ADJ
ajeer-7477	250	12	liberalization	liberalization	NOUN
ajeer-7477	250	13	strategies	strategy	NOUN
ajeer-7477	250	14	to	to	ADP
ajeer-7477	250	15	the	the	DET
ajeer-7477	250	16	specific	specific	ADJ
ajeer-7477	250	17	stage	stage	NOUN
ajeer-7477	250	18	of	of	ADP
ajeer-7477	250	19	financial	financial	ADJ
ajeer-7477	250	20	openness	openness	NOUN
ajeer-7477	250	21	.	.	PUNCT
ajeer-7477	251	1	in	in	ADP
ajeer-7477	251	2	particular	particular	ADJ
ajeer-7477	251	3	,	,	PUNCT
ajeer-7477	251	4	for	for	ADP
ajeer-7477	251	5	regions	region	NOUN
ajeer-7477	251	6	at	at	ADP
ajeer-7477	251	7	a	a	DET
ajeer-7477	251	8	moderate	moderate	ADJ
ajeer-7477	251	9	openness	openness	NOUN
ajeer-7477	251	10	stage	stage	NOUN
ajeer-7477	251	11	,	,	PUNCT
ajeer-7477	251	12	complementary	complementary	ADJ
ajeer-7477	251	13	policies	policy	NOUN
ajeer-7477	251	14	aimed	aim	VERB
ajeer-7477	251	15	at	at	ADP
ajeer-7477	251	16	strengthening	strengthen	VERB
ajeer-7477	251	17	domestic	domestic	ADJ
ajeer-7477	251	18	financial	financial	ADJ
ajeer-7477	251	19	institutions	institution	NOUN
ajeer-7477	251	20	may	may	AUX
ajeer-7477	251	21	be	be	AUX
ajeer-7477	251	22	necessary	necessary	ADJ
ajeer-7477	251	23	to	to	PART
ajeer-7477	251	24	fully	fully	ADV
ajeer-7477	251	25	capture	capture	VERB
ajeer-7477	251	26	the	the	DET
ajeer-7477	251	27	benefits	benefit	NOUN
ajeer-7477	251	28	of	of	ADP
ajeer-7477	251	29	global	global	ADJ
ajeer-7477	251	30	financial	financial	ADJ
ajeer-7477	251	31	integration	integration	NOUN
ajeer-7477	251	32	.	.	PUNCT
ajeer-7477	252	1	furthermore	furthermore	ADV
ajeer-7477	252	2	,	,	PUNCT
ajeer-7477	252	3	the	the	DET
ajeer-7477	252	4	significant	significant	ADJ
ajeer-7477	252	5	negative	negative	ADJ
ajeer-7477	252	6	coefficients	coefficient	NOUN
ajeer-7477	252	7	for	for	ADP
ajeer-7477	252	8	control	control	NOUN
ajeer-7477	252	9	variables	variable	NOUN
ajeer-7477	252	10	such	such	ADJ
ajeer-7477	252	11	as	as	ADP
ajeer-7477	252	12	government	government	NOUN
ajeer-7477	252	13	expenditure	expenditure	NOUN
ajeer-7477	252	14	,	,	PUNCT
ajeer-7477	252	15	trade	trade	NOUN
ajeer-7477	252	16	openness	openness	NOUN
ajeer-7477	252	17	,	,	PUNCT
ajeer-7477	252	18	and	and	CCONJ
ajeer-7477	252	19	higher	high	ADJ
ajeer-7477	252	20	education	education	NOUN
ajeer-7477	252	21	enrollment	enrollment	NOUN
ajeer-7477	252	22	suggest	suggest	VERB
ajeer-7477	252	23	that	that	SCONJ
ajeer-7477	252	24	current	current	ADJ
ajeer-7477	252	25	levels	level	NOUN
ajeer-7477	252	26	or	or	CCONJ
ajeer-7477	252	27	approaches	approach	NOUN
ajeer-7477	252	28	in	in	ADP
ajeer-7477	252	29	these	these	DET
ajeer-7477	252	30	areas	area	NOUN
ajeer-7477	252	31	might	might	AUX
ajeer-7477	252	32	be	be	AUX
ajeer-7477	252	33	generating	generate	VERB
ajeer-7477	252	34	inefficiencies	inefficiency	NOUN
ajeer-7477	252	35	or	or	CCONJ
ajeer-7477	252	36	distortions	distortion	NOUN
ajeer-7477	252	37	in	in	ADP
ajeer-7477	252	38	the	the	DET
ajeer-7477	252	39	economy	economy	NOUN
ajeer-7477	252	40	.	.	PUNCT
ajeer-7477	253	1	for	for	ADP
ajeer-7477	253	2	instance	instance	NOUN
ajeer-7477	253	3	,	,	PUNCT
ajeer-7477	253	4	higher	high	ADJ
ajeer-7477	253	5	government	government	NOUN
ajeer-7477	253	6	spending	spending	NOUN
ajeer-7477	253	7	could	could	AUX
ajeer-7477	253	8	be	be	AUX
ajeer-7477	253	9	crowding	crowd	VERB
ajeer-7477	253	10	out	out	ADP
ajeer-7477	253	11	private	private	ADJ
ajeer-7477	253	12	investment	investment	NOUN
ajeer-7477	253	13	,	,	PUNCT
ajeer-7477	253	14	while	while	SCONJ
ajeer-7477	253	15	the	the	DET
ajeer-7477	253	16	negative	negative	ADJ
ajeer-7477	253	17	impacts	impact	NOUN
ajeer-7477	253	18	associated	associate	VERB
ajeer-7477	253	19	with	with	ADP
ajeer-7477	253	20	trade	trade	NOUN
ajeer-7477	253	21	openness	openness	NOUN
ajeer-7477	253	22	and	and	CCONJ
ajeer-7477	253	23	human	human	ADJ
ajeer-7477	253	24	capital	capital	NOUN
ajeer-7477	253	25	investments	investment	NOUN
ajeer-7477	253	26	may	may	AUX
ajeer-7477	253	27	reflect	reflect	VERB
ajeer-7477	253	28	structural	structural	ADJ
ajeer-7477	253	29	or	or	CCONJ
ajeer-7477	253	30	policy	policy	NOUN
ajeer-7477	253	31	-	-	PUNCT
ajeer-7477	253	32	driven	drive	VERB
ajeer-7477	253	33	issues	issue	NOUN
ajeer-7477	253	34	that	that	PRON
ajeer-7477	253	35	need	need	VERB
ajeer-7477	253	36	to	to	PART
ajeer-7477	253	37	be	be	AUX
ajeer-7477	253	38	addressed	address	VERB
ajeer-7477	253	39	.	.	PUNCT
ajeer-7477	254	1	in	in	ADP
ajeer-7477	254	2	contrast	contrast	NOUN
ajeer-7477	254	3	,	,	PUNCT
ajeer-7477	254	4	the	the	DET
ajeer-7477	254	5	positive	positive	ADJ
ajeer-7477	254	6	effect	effect	NOUN
ajeer-7477	254	7	of	of	ADP
ajeer-7477	254	8	inflation	inflation	NOUN
ajeer-7477	254	9	within	within	ADP
ajeer-7477	254	10	controlled	control	VERB
ajeer-7477	254	11	limits	limit	NOUN
ajeer-7477	254	12	indicates	indicate	VERB
ajeer-7477	254	13	that	that	SCONJ
ajeer-7477	254	14	moderate	moderate	ADJ
ajeer-7477	254	15	inflation	inflation	NOUN
ajeer-7477	254	16	may	may	AUX
ajeer-7477	254	17	signal	signal	VERB
ajeer-7477	254	18	dynamic	dynamic	ADJ
ajeer-7477	254	19	economic	economic	ADJ
ajeer-7477	254	20	activity	activity	NOUN
ajeer-7477	254	21	,	,	PUNCT
ajeer-7477	254	22	though	though	SCONJ
ajeer-7477	254	23	it	it	PRON
ajeer-7477	254	24	must	must	AUX
ajeer-7477	254	25	be	be	AUX
ajeer-7477	254	26	managed	manage	VERB
ajeer-7477	254	27	carefully	carefully	ADV
ajeer-7477	254	28	to	to	PART
ajeer-7477	254	29	avoid	avoid	VERB
ajeer-7477	254	30	long	long	ADJ
ajeer-7477	254	31	-	-	PUNCT
ajeer-7477	254	32	term	term	NOUN
ajeer-7477	254	33	adverse	adverse	ADJ
ajeer-7477	254	34	effects	effect	NOUN
ajeer-7477	254	35	.	.	PUNCT
ajeer-7477	255	1	in	in	ADP
ajeer-7477	255	2	conclusion	conclusion	NOUN
ajeer-7477	255	3	,	,	PUNCT
ajeer-7477	255	4	this	this	DET
ajeer-7477	255	5	study	study	NOUN
ajeer-7477	255	6	underscores	underscore	VERB
ajeer-7477	255	7	the	the	DET
ajeer-7477	255	8	importance	importance	NOUN
ajeer-7477	255	9	of	of	ADP
ajeer-7477	255	10	a	a	DET
ajeer-7477	255	11	nuanced	nuanced	ADJ
ajeer-7477	255	12	,	,	PUNCT
ajeer-7477	255	13	regime	regime	NOUN
ajeer-7477	255	14	-	-	PUNCT
ajeer-7477	255	15	specific	specific	ADJ
ajeer-7477	255	16	approach	approach	NOUN
ajeer-7477	255	17	to	to	ADP
ajeer-7477	255	18	financial	financial	ADJ
ajeer-7477	255	19	policy	policy	NOUN
ajeer-7477	255	20	.	.	PUNCT
ajeer-7477	256	1	the	the	DET
ajeer-7477	256	2	interplay	interplay	NOUN
ajeer-7477	256	3	between	between	ADP
ajeer-7477	256	4	financial	financial	ADJ
ajeer-7477	256	5	development	development	NOUN
ajeer-7477	256	6	and	and	CCONJ
ajeer-7477	256	7	openness	openness	NOUN
ajeer-7477	256	8	is	be	AUX
ajeer-7477	256	9	complex	complex	ADJ
ajeer-7477	256	10	and	and	CCONJ
ajeer-7477	256	11	suggests	suggest	VERB
ajeer-7477	256	12	that	that	SCONJ
ajeer-7477	256	13	a	a	DET
ajeer-7477	256	14	one	one	NUM
ajeer-7477	256	15	-	-	PUNCT
ajeer-7477	256	16	size	size	NOUN
ajeer-7477	256	17	-	-	PUNCT
ajeer-7477	256	18	fits	fit	VERB
ajeer-7477	256	19	-	-	PUNCT
ajeer-7477	256	20	all	all	DET
ajeer-7477	256	21	strategy	strategy	NOUN
ajeer-7477	256	22	may	may	AUX
ajeer-7477	256	23	be	be	AUX
ajeer-7477	256	24	inadequate	inadequate	ADJ
ajeer-7477	256	25	.	.	PUNCT
ajeer-7477	257	1	policymakers	policymaker	NOUN
ajeer-7477	257	2	should	should	AUX
ajeer-7477	257	3	focus	focus	VERB
ajeer-7477	257	4	on	on	ADP
ajeer-7477	257	5	enhancing	enhance	VERB
ajeer-7477	257	6	domestic	domestic	ADJ
ajeer-7477	257	7	financial	financial	ADJ
ajeer-7477	257	8	infrastructure	infrastructure	NOUN
ajeer-7477	257	9	,	,	PUNCT
ajeer-7477	257	10	particularly	particularly	ADV
ajeer-7477	257	11	in	in	ADP
ajeer-7477	257	12	regions	region	NOUN
ajeer-7477	257	13	with	with	ADP
ajeer-7477	257	14	moderate	moderate	ADJ
ajeer-7477	257	15	financial	financial	ADJ
ajeer-7477	257	16	openness	openness	NOUN
ajeer-7477	257	17	,	,	PUNCT
ajeer-7477	257	18	to	to	PART
ajeer-7477	257	19	maximize	maximize	VERB
ajeer-7477	257	20	growth	growth	NOUN
ajeer-7477	257	21	benefits	benefit	NOUN
ajeer-7477	257	22	.	.	PUNCT
ajeer-7477	258	1	simultaneously	simultaneously	ADV
ajeer-7477	258	2	,	,	PUNCT
ajeer-7477	258	3	reforms	reform	NOUN
ajeer-7477	258	4	in	in	ADP
ajeer-7477	258	5	public	public	ADJ
ajeer-7477	258	6	spending	spending	NOUN
ajeer-7477	258	7	,	,	PUNCT
ajeer-7477	258	8	trade	trade	NOUN
ajeer-7477	258	9	,	,	PUNCT
ajeer-7477	258	10	and	and	CCONJ
ajeer-7477	258	11	education	education	NOUN
ajeer-7477	258	12	policies	policy	NOUN
ajeer-7477	258	13	should	should	AUX
ajeer-7477	258	14	be	be	AUX
ajeer-7477	258	15	considered	consider	VERB
ajeer-7477	258	16	to	to	PART
ajeer-7477	258	17	rectify	rectify	VERB
ajeer-7477	258	18	potential	potential	ADJ
ajeer-7477	258	19	inefficiencies	inefficiency	NOUN
ajeer-7477	258	20	.	.	PUNCT
ajeer-7477	259	1	overall	overall	ADV
ajeer-7477	259	2	,	,	PUNCT
ajeer-7477	259	3	the	the	DET
ajeer-7477	259	4	evidence	evidence	NOUN
ajeer-7477	259	5	provided	provide	VERB
ajeer-7477	259	6	by	by	ADP
ajeer-7477	259	7	this	this	DET
ajeer-7477	259	8	threshold	threshold	NOUN
ajeer-7477	259	9	regression	regression	NOUN
ajeer-7477	259	10	analysis	analysis	NOUN
ajeer-7477	259	11	contributes	contribute	VERB
ajeer-7477	259	12	to	to	ADP
ajeer-7477	259	13	a	a	DET
ajeer-7477	259	14	more	more	ADV
ajeer-7477	259	15	refined	refined	ADJ
ajeer-7477	259	16	understanding	understanding	NOUN
ajeer-7477	259	17	of	of	ADP
ajeer-7477	259	18	the	the	DET
ajeer-7477	259	19	finance	finance	NOUN
ajeer-7477	259	20	-	-	PUNCT
ajeer-7477	259	21	growth	growth	NOUN
ajeer-7477	259	22	nexus	nexus	NOUN
ajeer-7477	259	23	,	,	PUNCT
ajeer-7477	259	24	offering	offer	VERB
ajeer-7477	259	25	valuable	valuable	ADJ
ajeer-7477	259	26	guidance	guidance	NOUN
ajeer-7477	259	27	for	for	ADP
ajeer-7477	259	28	designing	design	VERB
ajeer-7477	259	29	sustainable	sustainable	ADJ
ajeer-7477	259	30	and	and	CCONJ
ajeer-7477	259	31	tailored	tailor	VERB
ajeer-7477	259	32	economic	economic	ADJ
ajeer-7477	259	33	policies	policy	NOUN
ajeer-7477	259	34	in	in	ADP
ajeer-7477	259	35	china	china	PROPN
ajeer-7477	259	36	's	's	PART
ajeer-7477	259	37	urban	urban	ADJ
ajeer-7477	259	38	agglomerations	agglomeration	NOUN
ajeer-7477	259	39	.	.	PUNCT
ajeer-7477	260	1	6	6	X
ajeer-7477	260	2	.	.	X
ajeer-7477	260	3	research	research	NOUN
ajeer-7477	260	4	limitation	limitation	NOUN
ajeer-7477	260	5	and	and	CCONJ
ajeer-7477	260	6	future	future	ADJ
ajeer-7477	260	7	direction	direction	NOUN
ajeer-7477	260	8	despite	despite	SCONJ
ajeer-7477	260	9	the	the	DET
ajeer-7477	260	10	valuable	valuable	ADJ
ajeer-7477	260	11	insights	insight	NOUN
ajeer-7477	260	12	offered	offer	VERB
ajeer-7477	260	13	by	by	ADP
ajeer-7477	260	14	this	this	DET
ajeer-7477	260	15	study	study	NOUN
ajeer-7477	260	16	,	,	PUNCT
ajeer-7477	260	17	several	several	ADJ
ajeer-7477	260	18	limitations	limitation	NOUN
ajeer-7477	260	19	should	should	AUX
ajeer-7477	260	20	be	be	AUX
ajeer-7477	260	21	acknowledged	acknowledge	VERB
ajeer-7477	260	22	.	.	PUNCT
ajeer-7477	261	1	first	first	ADV
ajeer-7477	261	2	,	,	PUNCT
ajeer-7477	261	3	our	our	PRON
ajeer-7477	261	4	analysis	analysis	NOUN
ajeer-7477	261	5	is	be	AUX
ajeer-7477	261	6	based	base	VERB
ajeer-7477	261	7	on	on	ADP
ajeer-7477	261	8	panel	panel	NOUN
ajeer-7477	261	9	data	datum	NOUN
ajeer-7477	261	10	from	from	ADP
ajeer-7477	261	11	three	three	NUM
ajeer-7477	261	12	major	major	ADJ
ajeer-7477	261	13	urban	urban	ADJ
ajeer-7477	261	14	agglomerations	agglomeration	NOUN
ajeer-7477	261	15	in	in	ADP
ajeer-7477	261	16	china	china	PROPN
ajeer-7477	261	17	over	over	ADP
ajeer-7477	261	18	the	the	DET
ajeer-7477	261	19	period	period	NOUN
ajeer-7477	261	20	1995–2021	1995–2021	NUM
ajeer-7477	261	21	,	,	PUNCT
ajeer-7477	261	22	which	which	PRON
ajeer-7477	261	23	may	may	AUX
ajeer-7477	261	24	limit	limit	VERB
ajeer-7477	261	25	the	the	DET
ajeer-7477	261	26	generalizability	generalizability	NOUN
ajeer-7477	261	27	of	of	ADP
ajeer-7477	261	28	the	the	DET
ajeer-7477	261	29	findings	finding	NOUN
ajeer-7477	261	30	to	to	ADP
ajeer-7477	261	31	other	other	ADJ
ajeer-7477	261	32	regions	region	NOUN
ajeer-7477	261	33	or	or	CCONJ
ajeer-7477	261	34	time	time	NOUN
ajeer-7477	261	35	periods	period	NOUN
ajeer-7477	261	36	.	.	PUNCT
ajeer-7477	262	1	the	the	DET
ajeer-7477	262	2	construction	construction	NOUN
ajeer-7477	262	3	of	of	ADP
ajeer-7477	262	4	the	the	DET
ajeer-7477	262	5	financial	financial	PROPN
ajeer-7477	262	6	development	development	NOUN
ajeer-7477	262	7	index	index	NOUN
ajeer-7477	262	8	using	use	VERB
ajeer-7477	262	9	the	the	DET
ajeer-7477	262	10	entropy	entropy	NOUN
ajeer-7477	262	11	evaluation	evaluation	NOUN
ajeer-7477	262	12	method	method	NOUN
ajeer-7477	262	13	,	,	PUNCT
ajeer-7477	262	14	although	although	SCONJ
ajeer-7477	262	15	innovative	innovative	ADJ
ajeer-7477	262	16	,	,	PUNCT
ajeer-7477	262	17	relies	rely	VERB
ajeer-7477	262	18	on	on	ADP
ajeer-7477	262	19	available	available	ADJ
ajeer-7477	262	20	indicators	indicator	NOUN
ajeer-7477	262	21	and	and	CCONJ
ajeer-7477	262	22	may	may	AUX
ajeer-7477	262	23	not	not	PART
ajeer-7477	262	24	fully	fully	ADV
ajeer-7477	262	25	capture	capture	VERB
ajeer-7477	262	26	all	all	DET
ajeer-7477	262	27	dimensions	dimension	NOUN
ajeer-7477	262	28	of	of	ADP
ajeer-7477	262	29	financial	financial	ADJ
ajeer-7477	262	30	sector	sector	NOUN
ajeer-7477	262	31	sophistication	sophistication	NOUN
ajeer-7477	262	32	.	.	PUNCT
ajeer-7477	263	1	additionally	additionally	ADV
ajeer-7477	263	2	,	,	PUNCT
ajeer-7477	263	3	while	while	SCONJ
ajeer-7477	263	4	the	the	DET
ajeer-7477	263	5	threshold	threshold	NOUN
ajeer-7477	263	6	regression	regression	VERB
ajeer-7477	263	7	asian	asian	ADJ
ajeer-7477	263	8	journal	journal	NOUN
ajeer-7477	263	9	of	of	ADP
ajeer-7477	263	10	economics	economic	NOUN
ajeer-7477	263	11	and	and	CCONJ
ajeer-7477	263	12	empirical	empirical	ADJ
ajeer-7477	263	13	research	research	NOUN
ajeer-7477	263	14	,	,	PUNCT
ajeer-7477	263	15	2025	2025	NUM
ajeer-7477	263	16	,	,	PUNCT
ajeer-7477	263	17	12(2	12(2	NUM
ajeer-7477	263	18	):	):	PUNCT
ajeer-7477	263	19	104	104	NUM
ajeer-7477	263	20	-	-	SYM
ajeer-7477	263	21	112	112	NUM
ajeer-7477	263	22	112	112	NUM
ajeer-7477	263	23	©	©	PROPN
ajeer-7477	263	24	2025	2025	NUM
ajeer-7477	263	25	by	by	ADP
ajeer-7477	263	26	the	the	DET
ajeer-7477	263	27	authors	author	NOUN
ajeer-7477	263	28	;	;	PUNCT
ajeer-7477	263	29	licensee	licensee	PROPN
ajeer-7477	263	30	asian	asian	ADJ
ajeer-7477	263	31	online	online	PROPN
ajeer-7477	263	32	journal	journal	PROPN
ajeer-7477	263	33	publishing	publishing	NOUN
ajeer-7477	263	34	group	group	NOUN
ajeer-7477	263	35	approach	approach	NOUN
ajeer-7477	263	36	effectively	effectively	ADV
ajeer-7477	263	37	identifies	identify	VERB
ajeer-7477	263	38	nonlinearities	nonlinearitie	NOUN
ajeer-7477	263	39	in	in	ADP
ajeer-7477	263	40	the	the	DET
ajeer-7477	263	41	relationship	relationship	NOUN
ajeer-7477	263	42	between	between	ADP
ajeer-7477	263	43	financial	financial	ADJ
ajeer-7477	263	44	development	development	NOUN
ajeer-7477	263	45	and	and	CCONJ
ajeer-7477	263	46	economic	economic	ADJ
ajeer-7477	263	47	growth	growth	NOUN
ajeer-7477	263	48	under	under	ADP
ajeer-7477	263	49	different	different	ADJ
ajeer-7477	263	50	levels	level	NOUN
ajeer-7477	263	51	of	of	ADP
ajeer-7477	263	52	financial	financial	ADJ
ajeer-7477	263	53	openness	openness	NOUN
ajeer-7477	263	54	,	,	PUNCT
ajeer-7477	263	55	potential	potential	ADJ
ajeer-7477	263	56	endogeneity	endogeneity	NOUN
ajeer-7477	263	57	issues	issue	NOUN
ajeer-7477	263	58	can	can	AUX
ajeer-7477	263	59	not	not	PART
ajeer-7477	263	60	be	be	AUX
ajeer-7477	263	61	entirely	entirely	ADV
ajeer-7477	263	62	ruled	rule	VERB
ajeer-7477	263	63	out	out	ADP
ajeer-7477	263	64	despite	despite	SCONJ
ajeer-7477	263	65	our	our	PRON
ajeer-7477	263	66	efforts	effort	NOUN
ajeer-7477	263	67	to	to	PART
ajeer-7477	263	68	mitigate	mitigate	VERB
ajeer-7477	263	69	them	they	PRON
ajeer-7477	263	70	.	.	PUNCT
ajeer-7477	264	1	furthermore	furthermore	ADV
ajeer-7477	264	2	,	,	PUNCT
ajeer-7477	264	3	the	the	DET
ajeer-7477	264	4	observed	observe	VERB
ajeer-7477	264	5	significant	significant	ADJ
ajeer-7477	264	6	negative	negative	ADJ
ajeer-7477	264	7	coefficients	coefficient	NOUN
ajeer-7477	264	8	for	for	ADP
ajeer-7477	264	9	control	control	NOUN
ajeer-7477	264	10	variables	variable	NOUN
ajeer-7477	264	11	such	such	ADJ
ajeer-7477	264	12	as	as	ADP
ajeer-7477	264	13	government	government	NOUN
ajeer-7477	264	14	expenditure	expenditure	NOUN
ajeer-7477	264	15	,	,	PUNCT
ajeer-7477	264	16	trade	trade	NOUN
ajeer-7477	264	17	openness	openness	NOUN
ajeer-7477	264	18	,	,	PUNCT
ajeer-7477	264	19	and	and	CCONJ
ajeer-7477	264	20	higher	high	ADJ
ajeer-7477	264	21	education	education	NOUN
ajeer-7477	264	22	enrollment	enrollment	NOUN
ajeer-7477	264	23	suggest	suggest	VERB
ajeer-7477	264	24	that	that	SCONJ
ajeer-7477	264	25	other	other	ADJ
ajeer-7477	264	26	omitted	omit	VERB
ajeer-7477	264	27	macroeconomic	macroeconomic	ADJ
ajeer-7477	264	28	or	or	CCONJ
ajeer-7477	264	29	institutional	institutional	ADJ
ajeer-7477	264	30	factors	factor	NOUN
ajeer-7477	264	31	might	might	AUX
ajeer-7477	264	32	also	also	ADV
ajeer-7477	264	33	influence	influence	VERB
ajeer-7477	264	34	economic	economic	ADJ
ajeer-7477	264	35	growth	growth	NOUN
ajeer-7477	264	36	,	,	PUNCT
ajeer-7477	264	37	which	which	PRON
ajeer-7477	264	38	our	our	PRON
ajeer-7477	264	39	model	model	NOUN
ajeer-7477	264	40	does	do	AUX
ajeer-7477	264	41	not	not	PART
ajeer-7477	264	42	fully	fully	ADV
ajeer-7477	264	43	address	address	VERB
ajeer-7477	264	44	.	.	PUNCT
ajeer-7477	265	1	future	future	ADJ
ajeer-7477	265	2	research	research	NOUN
ajeer-7477	265	3	should	should	AUX
ajeer-7477	265	4	consider	consider	VERB
ajeer-7477	265	5	employing	employ	VERB
ajeer-7477	265	6	alternative	alternative	ADJ
ajeer-7477	265	7	methodologies	methodology	NOUN
ajeer-7477	265	8	such	such	ADJ
ajeer-7477	265	9	as	as	ADP
ajeer-7477	265	10	instrumental	instrumental	ADJ
ajeer-7477	265	11	variable	variable	ADJ
ajeer-7477	265	12	techniques	technique	NOUN
ajeer-7477	265	13	or	or	CCONJ
ajeer-7477	265	14	dynamic	dynamic	ADJ
ajeer-7477	265	15	panel	panel	NOUN
ajeer-7477	265	16	data	datum	NOUN
ajeer-7477	265	17	models	model	NOUN
ajeer-7477	265	18	to	to	PART
ajeer-7477	265	19	further	further	ADJ
ajeer-7477	265	20	control	control	VERB
ajeer-7477	265	21	for	for	ADP
ajeer-7477	265	22	endogeneity	endogeneity	NOUN
ajeer-7477	265	23	and	and	CCONJ
ajeer-7477	265	24	validate	validate	VERB
ajeer-7477	265	25	these	these	DET
ajeer-7477	265	26	results	result	NOUN
ajeer-7477	265	27	.	.	PUNCT
ajeer-7477	266	1	expanding	expand	VERB
ajeer-7477	266	2	the	the	DET
ajeer-7477	266	3	analysis	analysis	NOUN
ajeer-7477	266	4	to	to	PART
ajeer-7477	266	5	include	include	VERB
ajeer-7477	266	6	additional	additional	ADJ
ajeer-7477	266	7	regions	region	NOUN
ajeer-7477	266	8	,	,	PUNCT
ajeer-7477	266	9	a	a	DET
ajeer-7477	266	10	broader	broad	ADJ
ajeer-7477	266	11	time	time	NOUN
ajeer-7477	266	12	frame	frame	NOUN
ajeer-7477	266	13	,	,	PUNCT
ajeer-7477	266	14	or	or	CCONJ
ajeer-7477	266	15	even	even	ADV
ajeer-7477	266	16	comparative	comparative	ADJ
ajeer-7477	266	17	studies	study	NOUN
ajeer-7477	266	18	across	across	ADP
ajeer-7477	266	19	different	different	ADJ
ajeer-7477	266	20	emerging	emerge	VERB
ajeer-7477	266	21	and	and	CCONJ
ajeer-7477	266	22	developed	develop	VERB
ajeer-7477	266	23	economies	economy	NOUN
ajeer-7477	266	24	would	would	AUX
ajeer-7477	266	25	also	also	ADV
ajeer-7477	266	26	enhance	enhance	VERB
ajeer-7477	266	27	the	the	DET
ajeer-7477	266	28	understanding	understanding	NOUN
ajeer-7477	266	29	of	of	ADP
ajeer-7477	266	30	the	the	DET
ajeer-7477	266	31	interplay	interplay	NOUN
ajeer-7477	266	32	between	between	ADP
ajeer-7477	266	33	financial	financial	ADJ
ajeer-7477	266	34	openness	openness	NOUN
ajeer-7477	266	35	,	,	PUNCT
ajeer-7477	266	36	financial	financial	ADJ
ajeer-7477	266	37	development	development	NOUN
ajeer-7477	266	38	,	,	PUNCT
ajeer-7477	266	39	and	and	CCONJ
ajeer-7477	266	40	economic	economic	ADJ
ajeer-7477	266	41	growth	growth	NOUN
ajeer-7477	266	42	.	.	PUNCT
ajeer-7477	267	1	such	such	ADJ
ajeer-7477	267	2	extensions	extension	NOUN
ajeer-7477	267	3	could	could	AUX
ajeer-7477	267	4	provide	provide	VERB
ajeer-7477	267	5	a	a	DET
ajeer-7477	267	6	more	more	ADV
ajeer-7477	267	7	comprehensive	comprehensive	ADJ
ajeer-7477	267	8	framework	framework	NOUN
ajeer-7477	267	9	that	that	PRON
ajeer-7477	267	10	refines	refine	VERB
ajeer-7477	267	11	policy	policy	NOUN
ajeer-7477	267	12	recommendations	recommendation	NOUN
ajeer-7477	267	13	and	and	CCONJ
ajeer-7477	267	14	improves	improve	VERB
ajeer-7477	267	15	the	the	DET
ajeer-7477	267	16	external	external	ADJ
ajeer-7477	267	17	validity	validity	NOUN
ajeer-7477	267	18	of	of	ADP
ajeer-7477	267	19	the	the	DET
ajeer-7477	267	20	findings	finding	NOUN
ajeer-7477	267	21	.	.	PUNCT
ajeer-7477	268	1	references	reference	NOUN
ajeer-7477	268	2	abiad	abiad	VERB
ajeer-7477	268	3	,	,	PUNCT
ajeer-7477	268	4	a.	a.	NOUN
ajeer-7477	268	5	,	,	PUNCT
ajeer-7477	268	6	detragiache	detragiache	PROPN
ajeer-7477	268	7	,	,	PUNCT
ajeer-7477	268	8	e.	e.	PROPN
ajeer-7477	268	9	,	,	PUNCT
ajeer-7477	268	10	&	&	CCONJ
ajeer-7477	268	11	tressel	tressel	PROPN
ajeer-7477	268	12	,	,	PUNCT
ajeer-7477	268	13	t.	t.	PROPN
ajeer-7477	268	14	(	(	PUNCT
ajeer-7477	268	15	2004	2004	NUM
ajeer-7477	268	16	)	)	PUNCT
ajeer-7477	268	17	.	.	PUNCT
ajeer-7477	269	1	finance	finance	NOUN
ajeer-7477	269	2	and	and	CCONJ
ajeer-7477	269	3	growth	growth	NOUN
ajeer-7477	269	4	:	:	PUNCT
ajeer-7477	269	5	theory	theory	NOUN
ajeer-7477	269	6	and	and	CCONJ
ajeer-7477	269	7	evidence	evidence	NOUN
ajeer-7477	269	8	.	.	PUNCT
ajeer-7477	270	1	journal	journal	NOUN
ajeer-7477	270	2	of	of	ADP
ajeer-7477	270	3	monetary	monetary	ADJ
ajeer-7477	270	4	economics	economic	NOUN
ajeer-7477	270	5	,	,	PUNCT
ajeer-7477	270	6	51(1	51(1	NUM
ajeer-7477	270	7	)	)	PUNCT
ajeer-7477	270	8	,	,	PUNCT
ajeer-7477	270	9	45–81	45–81	NUM
ajeer-7477	270	10	.	.	PUNCT
ajeer-7477	271	1	arestis	arestis	PROPN
ajeer-7477	271	2	,	,	PUNCT
ajeer-7477	271	3	p.	p.	NOUN
ajeer-7477	271	4	,	,	PUNCT
ajeer-7477	271	5	demetriades	demetriade	VERB
ajeer-7477	271	6	,	,	PUNCT
ajeer-7477	271	7	p.	p.	NOUN
ajeer-7477	271	8	,	,	PUNCT
ajeer-7477	271	9	&	&	CCONJ
ajeer-7477	271	10	luintel	luintel	PROPN
ajeer-7477	271	11	,	,	PUNCT
ajeer-7477	271	12	k.	k.	PROPN
ajeer-7477	271	13	b.	b.	PROPN
ajeer-7477	271	14	(	(	PUNCT
ajeer-7477	271	15	2001	2001	NUM
ajeer-7477	271	16	)	)	PUNCT
ajeer-7477	271	17	.	.	PUNCT
ajeer-7477	272	1	finance	finance	NOUN
ajeer-7477	272	2	and	and	CCONJ
ajeer-7477	272	3	growth	growth	NOUN
ajeer-7477	272	4	:	:	PUNCT
ajeer-7477	272	5	theory	theory	NOUN
ajeer-7477	272	6	,	,	PUNCT
ajeer-7477	272	7	evidence	evidence	NOUN
ajeer-7477	272	8	,	,	PUNCT
ajeer-7477	272	9	and	and	CCONJ
ajeer-7477	272	10	problems	problem	NOUN
ajeer-7477	272	11	.	.	PUNCT
ajeer-7477	273	1	oxford	oxford	PROPN
ajeer-7477	273	2	review	review	NOUN
ajeer-7477	273	3	of	of	ADP
ajeer-7477	273	4	economic	economic	ADJ
ajeer-7477	273	5	policy	policy	NOUN
ajeer-7477	273	6	,	,	PUNCT
ajeer-7477	273	7	17(4	17(4	NUM
ajeer-7477	273	8	)	)	PUNCT
ajeer-7477	273	9	,	,	PUNCT
ajeer-7477	273	10	453–484	453–484	NUM
ajeer-7477	273	11	.	.	PUNCT
ajeer-7477	274	1	bekaert	bekaert	NOUN
ajeer-7477	274	2	,	,	PUNCT
ajeer-7477	274	3	g.	g.	PROPN
ajeer-7477	274	4	,	,	PUNCT
ajeer-7477	274	5	harvey	harvey	PROPN
ajeer-7477	274	6	,	,	PUNCT
ajeer-7477	274	7	c.	c.	PROPN
ajeer-7477	274	8	r.	r.	PROPN
ajeer-7477	274	9	,	,	PUNCT
ajeer-7477	274	10	&	&	CCONJ
ajeer-7477	274	11	lundblad	lundblad	PROPN
ajeer-7477	274	12	,	,	PUNCT
ajeer-7477	274	13	c.	c.	PROPN
ajeer-7477	274	14	t.	t.	PROPN
ajeer-7477	274	15	(	(	PUNCT
ajeer-7477	274	16	2005	2005	NUM
ajeer-7477	274	17	)	)	PUNCT
ajeer-7477	274	18	.	.	PUNCT
ajeer-7477	275	1	does	do	AUX
ajeer-7477	275	2	financial	financial	ADJ
ajeer-7477	275	3	liberalization	liberalization	NOUN
ajeer-7477	275	4	spur	spur	NOUN
ajeer-7477	275	5	growth	growth	NOUN
ajeer-7477	275	6	?	?	PUNCT
ajeer-7477	276	1	journal	journal	NOUN
ajeer-7477	276	2	of	of	ADP
ajeer-7477	276	3	financial	financial	ADJ
ajeer-7477	276	4	economics	economic	NOUN
ajeer-7477	276	5	,	,	PUNCT
ajeer-7477	276	6	77(1	77(1	NUM
ajeer-7477	276	7	)	)	PUNCT
ajeer-7477	276	8	,	,	PUNCT
ajeer-7477	276	9	3–55	3–55	PROPN
ajeer-7477	276	10	.	.	PUNCT
ajeer-7477	277	1	https://doi.org/10.1016/j.jfineco.2004.05.007	https://doi.org/10.1016/j.jfineco.2004.05.007	ADJ
ajeer-7477	277	2	bekaert	bekaert	NOUN
ajeer-7477	277	3	,	,	PUNCT
ajeer-7477	277	4	g.	g.	PROPN
ajeer-7477	277	5	,	,	PUNCT
ajeer-7477	277	6	harvey	harvey	PROPN
ajeer-7477	277	7	,	,	PUNCT
ajeer-7477	277	8	c.	c.	PROPN
ajeer-7477	277	9	r.	r.	PROPN
ajeer-7477	277	10	,	,	PUNCT
ajeer-7477	277	11	&	&	CCONJ
ajeer-7477	277	12	lundblad	lundblad	PROPN
ajeer-7477	277	13	,	,	PUNCT
ajeer-7477	277	14	c.	c.	PROPN
ajeer-7477	277	15	t.	t.	PROPN
ajeer-7477	277	16	(	(	PUNCT
ajeer-7477	277	17	2011	2011	NUM
ajeer-7477	277	18	)	)	PUNCT
ajeer-7477	277	19	.	.	PUNCT
ajeer-7477	278	1	emerging	emerge	VERB
ajeer-7477	278	2	equity	equity	NOUN
ajeer-7477	278	3	markets	market	NOUN
ajeer-7477	278	4	and	and	CCONJ
ajeer-7477	278	5	financial	financial	ADJ
ajeer-7477	278	6	globalization	globalization	NOUN
ajeer-7477	278	7	.	.	PUNCT
ajeer-7477	279	1	journal	journal	NOUN
ajeer-7477	279	2	of	of	ADP
ajeer-7477	279	3	financial	financial	ADJ
ajeer-7477	279	4	economics	economic	NOUN
ajeer-7477	279	5	,	,	PUNCT
ajeer-7477	279	6	101(1	101(1	NUM
ajeer-7477	279	7	)	)	PUNCT
ajeer-7477	279	8	,	,	PUNCT
ajeer-7477	279	9	40–55	40–55	NUM
ajeer-7477	279	10	.	.	PUNCT
ajeer-7477	280	1	bussière	bussière	NOUN
ajeer-7477	280	2	,	,	PUNCT
ajeer-7477	280	3	m.	m.	NOUN
ajeer-7477	280	4	,	,	PUNCT
ajeer-7477	280	5	&	&	CCONJ
ajeer-7477	280	6	fratzscher	fratzscher	PROPN
ajeer-7477	280	7	,	,	PUNCT
ajeer-7477	280	8	m.	m.	NOUN
ajeer-7477	280	9	(	(	PUNCT
ajeer-7477	280	10	2008	2008	NUM
ajeer-7477	280	11	)	)	PUNCT
ajeer-7477	280	12	.	.	PUNCT
ajeer-7477	281	1	financial	financial	ADJ
ajeer-7477	281	2	globalization	globalization	NOUN
ajeer-7477	281	3	and	and	CCONJ
ajeer-7477	281	4	economic	economic	ADJ
ajeer-7477	281	5	performance	performance	NOUN
ajeer-7477	281	6	.	.	PUNCT
ajeer-7477	282	1	journal	journal	NOUN
ajeer-7477	282	2	of	of	ADP
ajeer-7477	282	3	international	international	ADJ
ajeer-7477	282	4	economics	economic	NOUN
ajeer-7477	282	5	,	,	PUNCT
ajeer-7477	282	6	75(2	75(2	NUM
ajeer-7477	282	7	)	)	PUNCT
ajeer-7477	282	8	,	,	PUNCT
ajeer-7477	282	9	227–246	227–246	NUM
ajeer-7477	282	10	.	.	PUNCT
ajeer-7477	283	1	chinn	chinn	PROPN
ajeer-7477	283	2	,	,	PUNCT
ajeer-7477	283	3	m.	m.	NOUN
ajeer-7477	283	4	d.	d.	PROPN
ajeer-7477	283	5	,	,	PUNCT
ajeer-7477	283	6	&	&	CCONJ
ajeer-7477	283	7	ito	ito	PROPN
ajeer-7477	283	8	,	,	PUNCT
ajeer-7477	283	9	h.	h.	PROPN
ajeer-7477	283	10	(	(	PUNCT
ajeer-7477	283	11	2006	2006	NUM
ajeer-7477	283	12	)	)	PUNCT
ajeer-7477	283	13	.	.	PUNCT
ajeer-7477	284	1	what	what	PRON
ajeer-7477	284	2	matters	matter	VERB
ajeer-7477	284	3	for	for	ADP
ajeer-7477	284	4	financial	financial	ADJ
ajeer-7477	284	5	development	development	NOUN
ajeer-7477	284	6	?	?	PUNCT
ajeer-7477	285	1	capital	capital	NOUN
ajeer-7477	285	2	controls	control	NOUN
ajeer-7477	285	3	,	,	PUNCT
ajeer-7477	285	4	institutions	institution	NOUN
ajeer-7477	285	5	,	,	PUNCT
ajeer-7477	285	6	and	and	CCONJ
ajeer-7477	285	7	interactions	interaction	NOUN
ajeer-7477	285	8	.	.	PUNCT
ajeer-7477	286	1	journal	journal	NOUN
ajeer-7477	286	2	of	of	ADP
ajeer-7477	286	3	development	development	NOUN
ajeer-7477	286	4	economics	economic	NOUN
ajeer-7477	286	5	,	,	PUNCT
ajeer-7477	286	6	81(1	81(1	NUM
ajeer-7477	286	7	)	)	PUNCT
ajeer-7477	286	8	,	,	PUNCT
ajeer-7477	286	9	163	163	NUM
ajeer-7477	286	10	-	-	SYM
ajeer-7477	286	11	192	192	NUM
ajeer-7477	286	12	.	.	PUNCT
ajeer-7477	287	1	https://doi.org/10.1016/j.jdeveco.2005.05.010	https://doi.org/10.1016/j.jdeveco.2005.05.010	PROPN
ajeer-7477	287	2	guo	guo	PROPN
ajeer-7477	287	3	,	,	PUNCT
ajeer-7477	287	4	w.	w.	PROPN
ajeer-7477	287	5	,	,	PUNCT
ajeer-7477	287	6	&	&	CCONJ
ajeer-7477	287	7	peng	peng	PROPN
ajeer-7477	287	8	,	,	PUNCT
ajeer-7477	287	9	j.	j.	PROPN
ajeer-7477	287	10	(	(	PUNCT
ajeer-7477	287	11	2016	2016	NUM
ajeer-7477	287	12	)	)	PUNCT
ajeer-7477	287	13	.	.	PUNCT
ajeer-7477	288	1	threshold	threshold	NOUN
ajeer-7477	288	2	effects	effect	NOUN
ajeer-7477	288	3	of	of	ADP
ajeer-7477	288	4	capital	capital	NOUN
ajeer-7477	288	5	account	account	NOUN
ajeer-7477	288	6	openness	openness	NOUN
ajeer-7477	288	7	on	on	ADP
ajeer-7477	288	8	economic	economic	ADJ
ajeer-7477	288	9	growth	growth	NOUN
ajeer-7477	288	10	in	in	ADP
ajeer-7477	288	11	china	china	PROPN
ajeer-7477	288	12	.	.	PUNCT
ajeer-7477	289	1	china	china	PROPN
ajeer-7477	289	2	economic	economic	PROPN
ajeer-7477	289	3	review	review	PROPN
ajeer-7477	289	4	,	,	PUNCT
ajeer-7477	289	5	38	38	NUM
ajeer-7477	289	6	,	,	PUNCT
ajeer-7477	289	7	123–135	123–135	NUM
ajeer-7477	289	8	.	.	PUNCT
ajeer-7477	290	1	hansen	hansen	PROPN
ajeer-7477	290	2	,	,	PUNCT
ajeer-7477	290	3	b.	b.	PROPN
ajeer-7477	290	4	e.	e.	PROPN
ajeer-7477	290	5	(	(	PUNCT
ajeer-7477	290	6	1999	1999	NUM
ajeer-7477	290	7	)	)	PUNCT
ajeer-7477	290	8	.	.	PUNCT
ajeer-7477	291	1	threshold	threshold	NOUN
ajeer-7477	291	2	effects	effect	NOUN
ajeer-7477	291	3	in	in	ADP
ajeer-7477	291	4	non	non	ADJ
ajeer-7477	291	5	-	-	ADJ
ajeer-7477	291	6	dynamic	dynamic	ADJ
ajeer-7477	291	7	panels	panel	NOUN
ajeer-7477	291	8	:	:	PUNCT
ajeer-7477	291	9	estimation	estimation	NOUN
ajeer-7477	291	10	,	,	PUNCT
ajeer-7477	291	11	testing	testing	NOUN
ajeer-7477	291	12	,	,	PUNCT
ajeer-7477	291	13	and	and	CCONJ
ajeer-7477	291	14	inference	inference	NOUN
ajeer-7477	291	15	.	.	PUNCT
ajeer-7477	292	1	journal	journal	PROPN
ajeer-7477	292	2	of	of	ADP
ajeer-7477	292	3	econometrics	econometric	NOUN
ajeer-7477	292	4	,	,	PUNCT
ajeer-7477	292	5	93(2	93(2	NOUN
ajeer-7477	292	6	)	)	PUNCT
ajeer-7477	292	7	,	,	PUNCT
ajeer-7477	292	8	345	345	NUM
ajeer-7477	292	9	-	-	SYM
ajeer-7477	292	10	368	368	NUM
ajeer-7477	292	11	.	.	PUNCT
ajeer-7477	293	1	https://doi.org/10.1016/s0304-4076(99)00025-1	https://doi.org/10.1016/s0304-4076(99)00025-1	PROPN
ajeer-7477	293	2	henry	henry	PROPN
ajeer-7477	293	3	,	,	PUNCT
ajeer-7477	293	4	r.	r.	PROPN
ajeer-7477	293	5	(	(	PUNCT
ajeer-7477	293	6	2007	2007	NUM
ajeer-7477	293	7	)	)	PUNCT
ajeer-7477	293	8	.	.	PUNCT
ajeer-7477	294	1	the	the	DET
ajeer-7477	294	2	impact	impact	NOUN
ajeer-7477	294	3	of	of	ADP
ajeer-7477	294	4	trade	trade	NOUN
ajeer-7477	294	5	and	and	CCONJ
ajeer-7477	294	6	financial	financial	ADJ
ajeer-7477	294	7	openness	openness	NOUN
ajeer-7477	294	8	on	on	ADP
ajeer-7477	294	9	economic	economic	ADJ
ajeer-7477	294	10	growth	growth	NOUN
ajeer-7477	294	11	.	.	PUNCT
ajeer-7477	295	1	world	world	NOUN
ajeer-7477	295	2	development	development	PROPN
ajeer-7477	295	3	,	,	PUNCT
ajeer-7477	295	4	35(6	35(6	NUM
ajeer-7477	295	5	)	)	PUNCT
ajeer-7477	295	6	,	,	PUNCT
ajeer-7477	295	7	1101–1112	1101–1112	PROPN
ajeer-7477	295	8	.	.	PUNCT
ajeer-7477	296	1	huang	huang	PROPN
ajeer-7477	296	2	,	,	PUNCT
ajeer-7477	296	3	w.	w.	PROPN
ajeer-7477	296	4	(	(	PUNCT
ajeer-7477	296	5	2006	2006	NUM
ajeer-7477	296	6	)	)	PUNCT
ajeer-7477	296	7	.	.	PUNCT
ajeer-7477	297	1	financial	financial	ADJ
ajeer-7477	297	2	globalization	globalization	NOUN
ajeer-7477	297	3	:	:	PUNCT
ajeer-7477	297	4	trends	trend	NOUN
ajeer-7477	297	5	,	,	PUNCT
ajeer-7477	297	6	challenges	challenge	NOUN
ajeer-7477	297	7	,	,	PUNCT
ajeer-7477	297	8	and	and	CCONJ
ajeer-7477	297	9	prospects	prospect	NOUN
ajeer-7477	297	10	.	.	PUNCT
ajeer-7477	298	1	international	international	ADJ
ajeer-7477	298	2	economics	economic	NOUN
ajeer-7477	298	3	,	,	PUNCT
ajeer-7477	298	4	5(2	5(2	NUM
ajeer-7477	298	5	)	)	PUNCT
ajeer-7477	298	6	,	,	PUNCT
ajeer-7477	298	7	12–30	12–30	NUM
ajeer-7477	298	8	.	.	PUNCT
ajeer-7477	298	9	islamaj	islamaj	PROPN
ajeer-7477	298	10	,	,	PUNCT
ajeer-7477	298	11	e.	e.	PROPN
ajeer-7477	298	12	(	(	PUNCT
ajeer-7477	298	13	2012	2012	NUM
ajeer-7477	298	14	)	)	PUNCT
ajeer-7477	298	15	.	.	PUNCT
ajeer-7477	299	1	financial	financial	ADJ
ajeer-7477	299	2	openness	openness	NOUN
ajeer-7477	299	3	and	and	CCONJ
ajeer-7477	299	4	economic	economic	ADJ
ajeer-7477	299	5	growth	growth	NOUN
ajeer-7477	299	6	:	:	PUNCT
ajeer-7477	299	7	an	an	DET
ajeer-7477	299	8	empirical	empirical	ADJ
ajeer-7477	299	9	analysis	analysis	NOUN
ajeer-7477	299	10	.	.	PUNCT
ajeer-7477	300	1	journal	journal	PROPN
ajeer-7477	300	2	of	of	ADP
ajeer-7477	300	3	international	international	ADJ
ajeer-7477	300	4	finance	finance	NOUN
ajeer-7477	300	5	,	,	PUNCT
ajeer-7477	300	6	15(3	15(3	NUM
ajeer-7477	300	7	)	)	PUNCT
ajeer-7477	300	8	,	,	PUNCT
ajeer-7477	300	9	231–250	231–250	NUM
ajeer-7477	300	10	.	.	PUNCT
ajeer-7477	301	1	ito	ito	PROPN
ajeer-7477	301	2	,	,	PUNCT
ajeer-7477	301	3	t.	t.	PROPN
ajeer-7477	301	4	(	(	PUNCT
ajeer-7477	301	5	2011	2011	NUM
ajeer-7477	301	6	)	)	PUNCT
ajeer-7477	301	7	.	.	PUNCT
ajeer-7477	302	1	capital	capital	NOUN
ajeer-7477	302	2	flows	flow	NOUN
ajeer-7477	302	3	and	and	CCONJ
ajeer-7477	302	4	crises	crisis	NOUN
ajeer-7477	302	5	:	:	PUNCT
ajeer-7477	302	6	the	the	DET
ajeer-7477	302	7	asian	asian	ADJ
ajeer-7477	302	8	experience	experience	NOUN
ajeer-7477	302	9	.	.	PUNCT
ajeer-7477	303	1	cambridge	cambridge	PROPN
ajeer-7477	303	2	,	,	PUNCT
ajeer-7477	303	3	ma	ma	PROPN
ajeer-7477	303	4	:	:	PUNCT
ajeer-7477	303	5	mit	mit	PROPN
ajeer-7477	303	6	press	press	NOUN
ajeer-7477	303	7	.	.	PUNCT
ajeer-7477	304	1	jia	jia	PROPN
ajeer-7477	304	2	,	,	PUNCT
ajeer-7477	304	3	x.	x.	NOUN
ajeer-7477	304	4	(	(	PUNCT
ajeer-7477	304	5	2005	2005	NUM
ajeer-7477	304	6	)	)	PUNCT
ajeer-7477	304	7	.	.	PUNCT
ajeer-7477	305	1	the	the	DET
ajeer-7477	305	2	dynamics	dynamic	NOUN
ajeer-7477	305	3	of	of	ADP
ajeer-7477	305	4	financial	financial	ADJ
ajeer-7477	305	5	openness	openness	NOUN
ajeer-7477	305	6	in	in	ADP
ajeer-7477	305	7	china	china	PROPN
ajeer-7477	305	8	.	.	PUNCT
ajeer-7477	306	1	china	china	PROPN
ajeer-7477	306	2	economic	economic	PROPN
ajeer-7477	306	3	review	review	PROPN
ajeer-7477	306	4	,	,	PUNCT
ajeer-7477	306	5	16(1	16(1	NUM
ajeer-7477	306	6	)	)	PUNCT
ajeer-7477	306	7	,	,	PUNCT
ajeer-7477	307	1	56–74	56–74	X
ajeer-7477	307	2	.	.	PUNCT
ajeer-7477	308	1	karim	karim	PROPN
ajeer-7477	308	2	,	,	PUNCT
ajeer-7477	308	3	m.	m.	NOUN
ajeer-7477	308	4	,	,	PUNCT
ajeer-7477	308	5	chowdhury	chowdhury	PROPN
ajeer-7477	308	6	,	,	PUNCT
ajeer-7477	308	7	m.	m.	NOUN
ajeer-7477	308	8	a.	a.	PROPN
ajeer-7477	308	9	,	,	PUNCT
ajeer-7477	308	10	&	&	CCONJ
ajeer-7477	308	11	uddin	uddin	PROPN
ajeer-7477	308	12	,	,	PUNCT
ajeer-7477	308	13	s.	s.	PROPN
ajeer-7477	308	14	(	(	PUNCT
ajeer-7477	308	15	2021	2021	NUM
ajeer-7477	308	16	)	)	PUNCT
ajeer-7477	308	17	.	.	PUNCT
ajeer-7477	309	1	financial	financial	ADJ
ajeer-7477	309	2	openness	openness	NOUN
ajeer-7477	309	3	and	and	CCONJ
ajeer-7477	309	4	economic	economic	ADJ
ajeer-7477	309	5	growth	growth	NOUN
ajeer-7477	309	6	:	:	PUNCT
ajeer-7477	309	7	empirical	empirical	ADJ
ajeer-7477	309	8	evidence	evidence	NOUN
ajeer-7477	309	9	from	from	ADP
ajeer-7477	309	10	emerging	emerge	VERB
ajeer-7477	309	11	economies	economy	NOUN
ajeer-7477	309	12	.	.	PUNCT
ajeer-7477	310	1	emerging	emerge	VERB
ajeer-7477	310	2	markets	market	NOUN
ajeer-7477	310	3	review	review	NOUN
ajeer-7477	310	4	,	,	PUNCT
ajeer-7477	310	5	47	47	NUM
ajeer-7477	310	6	,	,	PUNCT
ajeer-7477	310	7	100720	100720	NUM
ajeer-7477	310	8	.	.	PUNCT
ajeer-7477	311	1	king	king	PROPN
ajeer-7477	311	2	,	,	PUNCT
ajeer-7477	311	3	r.	r.	PROPN
ajeer-7477	311	4	g.	g.	PROPN
ajeer-7477	311	5	,	,	PUNCT
ajeer-7477	311	6	&	&	CCONJ
ajeer-7477	311	7	levine	levine	PROPN
ajeer-7477	311	8	,	,	PUNCT
ajeer-7477	311	9	r.	r.	PROPN
ajeer-7477	311	10	(	(	PUNCT
ajeer-7477	311	11	1993	1993	NUM
ajeer-7477	311	12	)	)	PUNCT
ajeer-7477	311	13	.	.	PUNCT
ajeer-7477	312	1	finance	finance	NOUN
ajeer-7477	312	2	and	and	CCONJ
ajeer-7477	312	3	growth	growth	NOUN
ajeer-7477	312	4	:	:	PUNCT
ajeer-7477	312	5	schumpeter	schumpeter	NOUN
ajeer-7477	312	6	might	might	AUX
ajeer-7477	312	7	be	be	AUX
ajeer-7477	312	8	right	right	ADJ
ajeer-7477	312	9	.	.	PUNCT
ajeer-7477	313	1	the	the	DET
ajeer-7477	313	2	quarterly	quarterly	ADJ
ajeer-7477	313	3	journal	journal	NOUN
ajeer-7477	313	4	of	of	ADP
ajeer-7477	313	5	economics	economic	NOUN
ajeer-7477	313	6	,	,	PUNCT
ajeer-7477	313	7	108(3	108(3	NUM
ajeer-7477	313	8	)	)	PUNCT
ajeer-7477	313	9	,	,	PUNCT
ajeer-7477	313	10	717	717	NUM
ajeer-7477	313	11	-	-	SYM
ajeer-7477	313	12	737	737	NUM
ajeer-7477	313	13	.	.	PUNCT
ajeer-7477	314	1	https://doi.org/10.2307/2118406	https://doi.org/10.2307/2118406	PROPN
ajeer-7477	314	2	klein	klein	PROPN
ajeer-7477	314	3	,	,	PUNCT
ajeer-7477	314	4	m.	m.	PROPN
ajeer-7477	314	5	w.	w.	PROPN
ajeer-7477	314	6	(	(	PUNCT
ajeer-7477	314	7	2005	2005	NUM
ajeer-7477	314	8	)	)	PUNCT
ajeer-7477	314	9	.	.	PUNCT
ajeer-7477	315	1	the	the	DET
ajeer-7477	315	2	effects	effect	NOUN
ajeer-7477	315	3	of	of	ADP
ajeer-7477	315	4	financial	financial	ADJ
ajeer-7477	315	5	liberalization	liberalization	NOUN
ajeer-7477	315	6	on	on	ADP
ajeer-7477	315	7	growth	growth	NOUN
ajeer-7477	315	8	:	:	PUNCT
ajeer-7477	315	9	a	a	DET
ajeer-7477	315	10	review	review	NOUN
ajeer-7477	315	11	.	.	PUNCT
ajeer-7477	316	1	journal	journal	NOUN
ajeer-7477	316	2	of	of	ADP
ajeer-7477	316	3	economic	economic	ADJ
ajeer-7477	316	4	perspectives	perspective	NOUN
ajeer-7477	316	5	,	,	PUNCT
ajeer-7477	316	6	19(2	19(2	NUM
ajeer-7477	316	7	)	)	PUNCT
ajeer-7477	316	8	,	,	PUNCT
ajeer-7477	316	9	3–20	3–20	PROPN
ajeer-7477	316	10	.	.	PUNCT
ajeer-7477	316	11	klein	klein	PROPN
ajeer-7477	316	12	,	,	PUNCT
ajeer-7477	316	13	m.	m.	PROPN
ajeer-7477	316	14	w.	w.	PROPN
ajeer-7477	316	15	,	,	PUNCT
ajeer-7477	316	16	&	&	CCONJ
ajeer-7477	316	17	olivei	olivei	PROPN
ajeer-7477	316	18	,	,	PUNCT
ajeer-7477	316	19	a.	a.	NOUN
ajeer-7477	316	20	(	(	PUNCT
ajeer-7477	316	21	2008	2008	NUM
ajeer-7477	316	22	)	)	PUNCT
ajeer-7477	316	23	.	.	PUNCT
ajeer-7477	317	1	financial	financial	ADJ
ajeer-7477	317	2	openness	openness	NOUN
ajeer-7477	317	3	and	and	CCONJ
ajeer-7477	317	4	economic	economic	ADJ
ajeer-7477	317	5	performance	performance	NOUN
ajeer-7477	317	6	:	:	PUNCT
ajeer-7477	317	7	a	a	DET
ajeer-7477	317	8	review	review	NOUN
ajeer-7477	317	9	.	.	PUNCT
ajeer-7477	318	1	journal	journal	PROPN
ajeer-7477	318	2	of	of	ADP
ajeer-7477	318	3	international	international	ADJ
ajeer-7477	318	4	economics	economic	NOUN
ajeer-7477	318	5	,	,	PUNCT
ajeer-7477	318	6	75(1	75(1	NOUN
ajeer-7477	318	7	)	)	PUNCT
ajeer-7477	318	8	,	,	PUNCT
ajeer-7477	318	9	1–14	1–14	PROPN
ajeer-7477	318	10	.	.	PROPN
ajeer-7477	318	11	kose	kose	PROPN
ajeer-7477	318	12	,	,	PUNCT
ajeer-7477	318	13	m.	m.	NOUN
ajeer-7477	318	14	a.	a.	PROPN
ajeer-7477	318	15	,	,	PUNCT
ajeer-7477	318	16	prasad	prasad	PROPN
ajeer-7477	318	17	,	,	PUNCT
ajeer-7477	318	18	e.	e.	PROPN
ajeer-7477	318	19	s.	s.	PROPN
ajeer-7477	318	20	,	,	PUNCT
ajeer-7477	318	21	&	&	CCONJ
ajeer-7477	318	22	terrones	terrone	NOUN
ajeer-7477	318	23	,	,	PUNCT
ajeer-7477	318	24	m.	m.	PROPN
ajeer-7477	318	25	e.	e.	PROPN
ajeer-7477	318	26	(	(	PUNCT
ajeer-7477	318	27	2009	2009	NUM
ajeer-7477	318	28	)	)	PUNCT
ajeer-7477	318	29	.	.	PUNCT
ajeer-7477	319	1	does	do	AUX
ajeer-7477	319	2	financial	financial	ADJ
ajeer-7477	319	3	globalization	globalization	NOUN
ajeer-7477	319	4	promote	promote	VERB
ajeer-7477	319	5	risk	risk	NOUN
ajeer-7477	319	6	sharing	sharing	NOUN
ajeer-7477	319	7	?	?	PUNCT
ajeer-7477	320	1	journal	journal	NOUN
ajeer-7477	320	2	of	of	ADP
ajeer-7477	320	3	development	development	NOUN
ajeer-7477	320	4	economics	economic	NOUN
ajeer-7477	320	5	,	,	PUNCT
ajeer-7477	320	6	89(2	89(2	NOUN
ajeer-7477	320	7	)	)	PUNCT
ajeer-7477	320	8	,	,	PUNCT
ajeer-7477	320	9	258	258	NUM
ajeer-7477	320	10	-	-	SYM
ajeer-7477	320	11	270	270	NUM
ajeer-7477	320	12	.	.	PUNCT
ajeer-7477	321	1	kuznets	kuznet	NOUN
ajeer-7477	321	2	,	,	PUNCT
ajeer-7477	321	3	s.	s.	PROPN
ajeer-7477	321	4	(	(	PUNCT
ajeer-7477	321	5	1963	1963	NUM
ajeer-7477	321	6	)	)	PUNCT
ajeer-7477	321	7	.	.	PUNCT
ajeer-7477	322	1	quantitative	quantitative	ADJ
ajeer-7477	322	2	aspects	aspect	NOUN
ajeer-7477	322	3	of	of	ADP
ajeer-7477	322	4	the	the	DET
ajeer-7477	322	5	economic	economic	ADJ
ajeer-7477	322	6	growth	growth	NOUN
ajeer-7477	322	7	of	of	ADP
ajeer-7477	322	8	nations	nation	NOUN
ajeer-7477	322	9	:	:	PUNCT
ajeer-7477	322	10	viii	viii	ADJ
ajeer-7477	322	11	.	.	PUNCT
ajeer-7477	323	1	distribution	distribution	NOUN
ajeer-7477	323	2	of	of	ADP
ajeer-7477	323	3	income	income	NOUN
ajeer-7477	323	4	by	by	ADP
ajeer-7477	323	5	size	size	NOUN
ajeer-7477	323	6	.	.	PUNCT
ajeer-7477	324	1	economic	economic	ADJ
ajeer-7477	324	2	development	development	NOUN
ajeer-7477	324	3	and	and	CCONJ
ajeer-7477	324	4	cultural	cultural	ADJ
ajeer-7477	324	5	change	change	NOUN
ajeer-7477	324	6	,	,	PUNCT
ajeer-7477	324	7	11(2	11(2	X
ajeer-7477	324	8	,	,	PUNCT
ajeer-7477	324	9	part	part	NOUN
ajeer-7477	324	10	2	2	NUM
ajeer-7477	324	11	)	)	PUNCT
ajeer-7477	324	12	,	,	PUNCT
ajeer-7477	324	13	1	1	NUM
ajeer-7477	324	14	-	-	SYM
ajeer-7477	324	15	80	80	NUM
ajeer-7477	324	16	.	.	PUNCT
ajeer-7477	325	1	https://doi.org/10.1086/450006	https://doi.org/10.1086/450006	PROPN
ajeer-7477	325	2	levine	levine	PROPN
ajeer-7477	325	3	,	,	PUNCT
ajeer-7477	325	4	r.	r.	PROPN
ajeer-7477	325	5	(	(	PUNCT
ajeer-7477	325	6	2005	2005	NUM
ajeer-7477	325	7	)	)	PUNCT
ajeer-7477	325	8	.	.	PUNCT
ajeer-7477	326	1	finance	finance	NOUN
ajeer-7477	326	2	and	and	CCONJ
ajeer-7477	326	3	growth	growth	NOUN
ajeer-7477	326	4	:	:	PUNCT
ajeer-7477	326	5	theory	theory	NOUN
ajeer-7477	326	6	and	and	CCONJ
ajeer-7477	326	7	evidence	evidence	NOUN
ajeer-7477	326	8	.	.	PUNCT
ajeer-7477	327	1	in	in	ADP
ajeer-7477	327	2	p.	p.	PROPN
ajeer-7477	327	3	 	 	SPACE
ajeer-7477	327	4	aghion	aghion	NOUN
ajeer-7477	327	5	&	&	CCONJ
ajeer-7477	327	6	s.	s.	PROPN
ajeer-7477	327	7	 	 	SPACE
ajeer-7477	327	8	n.	n.	PROPN
ajeer-7477	327	9	 	 	SPACE
ajeer-7477	327	10	durlauf	durlauf	PROPN
ajeer-7477	327	11	(	(	PUNCT
ajeer-7477	327	12	eds	eds	PROPN
ajeer-7477	327	13	.	.	PUNCT
ajeer-7477	327	14	)	)	PUNCT
ajeer-7477	327	15	,	,	PUNCT
ajeer-7477	327	16	handbook	handbook	NOUN
ajeer-7477	327	17	of	of	ADP
ajeer-7477	327	18	economic	economic	ADJ
ajeer-7477	327	19	growth	growth	NOUN
ajeer-7477	327	20	.	.	PUNCT
ajeer-7477	328	1	in	in	ADP
ajeer-7477	328	2	(	(	PUNCT
ajeer-7477	328	3	vol	vol	NOUN
ajeer-7477	328	4	.	.	NOUN
ajeer-7477	328	5	1	1	NUM
ajeer-7477	328	6	,	,	PUNCT
ajeer-7477	328	7	pp	pp	ADJ
ajeer-7477	328	8	.	.	PUNCT
ajeer-7477	328	9	 	 	SPACE
ajeer-7477	328	10	865–934	865–934	NUM
ajeer-7477	328	11	)	)	PUNCT
ajeer-7477	328	12	.	.	PUNCT
ajeer-7477	329	1	amsterdam	amsterdam	PROPN
ajeer-7477	329	2	,	,	PUNCT
ajeer-7477	329	3	netherlands	netherlands	PROPN
ajeer-7477	329	4	:	:	PUNCT
ajeer-7477	329	5	elsevier	elsevier	PROPN
ajeer-7477	329	6	levine	levine	PROPN
ajeer-7477	329	7	,	,	PUNCT
ajeer-7477	329	8	r.	r.	PROPN
ajeer-7477	329	9	,	,	PUNCT
ajeer-7477	329	10	&	&	CCONJ
ajeer-7477	329	11	zervos	zervos	PROPN
ajeer-7477	329	12	,	,	PUNCT
ajeer-7477	329	13	s.	s.	PROPN
ajeer-7477	329	14	(	(	PUNCT
ajeer-7477	329	15	1996	1996	NUM
ajeer-7477	329	16	)	)	PUNCT
ajeer-7477	329	17	.	.	PUNCT
ajeer-7477	330	1	stock	stock	NOUN
ajeer-7477	330	2	markets	market	NOUN
ajeer-7477	330	3	,	,	PUNCT
ajeer-7477	330	4	banks	bank	NOUN
ajeer-7477	330	5	,	,	PUNCT
ajeer-7477	330	6	and	and	CCONJ
ajeer-7477	330	7	economic	economic	ADJ
ajeer-7477	330	8	growth	growth	NOUN
ajeer-7477	330	9	.	.	PUNCT
ajeer-7477	331	1	american	american	PROPN
ajeer-7477	331	2	economic	economic	PROPN
ajeer-7477	331	3	review	review	PROPN
ajeer-7477	331	4	,	,	PUNCT
ajeer-7477	331	5	86(2	86(2	NOUN
ajeer-7477	331	6	)	)	PUNCT
ajeer-7477	331	7	,	,	PUNCT
ajeer-7477	331	8	537–558	537–558	NUM
ajeer-7477	331	9	.	.	PUNCT
ajeer-7477	332	1	li	li	PROPN
ajeer-7477	332	2	,	,	PUNCT
ajeer-7477	332	3	l.	l.	PROPN
ajeer-7477	332	4	,	,	PUNCT
ajeer-7477	332	5	&	&	CCONJ
ajeer-7477	332	6	wei	wei	PROPN
ajeer-7477	332	7	,	,	PUNCT
ajeer-7477	332	8	y.	y.	PROPN
ajeer-7477	332	9	(	(	PUNCT
ajeer-7477	332	10	2021	2021	NUM
ajeer-7477	332	11	)	)	PUNCT
ajeer-7477	332	12	.	.	PUNCT
ajeer-7477	333	1	carbon	carbon	NOUN
ajeer-7477	333	2	emissions	emission	NOUN
ajeer-7477	333	3	and	and	CCONJ
ajeer-7477	333	4	economic	economic	ADJ
ajeer-7477	333	5	growth	growth	NOUN
ajeer-7477	333	6	:	:	PUNCT
ajeer-7477	333	7	the	the	DET
ajeer-7477	333	8	moderating	moderate	VERB
ajeer-7477	333	9	role	role	NOUN
ajeer-7477	333	10	of	of	ADP
ajeer-7477	333	11	financial	financial	ADJ
ajeer-7477	333	12	development	development	NOUN
ajeer-7477	333	13	in	in	ADP
ajeer-7477	333	14	china	china	PROPN
ajeer-7477	333	15	.	.	PUNCT
ajeer-7477	334	1	energy	energy	NOUN
ajeer-7477	334	2	economics	economic	NOUN
ajeer-7477	334	3	,	,	PUNCT
ajeer-7477	334	4	98	98	NUM
ajeer-7477	334	5	,	,	PUNCT
ajeer-7477	334	6	105248	105248	NUM
ajeer-7477	334	7	.	.	PUNCT
ajeer-7477	335	1	liang	liang	PROPN
ajeer-7477	335	2	,	,	PUNCT
ajeer-7477	335	3	y.	y.	PROPN
ajeer-7477	335	4	(	(	PUNCT
ajeer-7477	335	5	2020	2020	NUM
ajeer-7477	335	6	)	)	PUNCT
ajeer-7477	335	7	.	.	PUNCT
ajeer-7477	336	1	nonlinear	nonlinear	ADJ
ajeer-7477	336	2	dynamics	dynamic	NOUN
ajeer-7477	336	3	in	in	ADP
ajeer-7477	336	4	the	the	DET
ajeer-7477	336	5	finance	finance	NOUN
ajeer-7477	336	6	–	–	PUNCT
ajeer-7477	336	7	growth	growth	NOUN
ajeer-7477	336	8	nexus	nexus	NOUN
ajeer-7477	336	9	:	:	PUNCT
ajeer-7477	336	10	evidence	evidence	NOUN
ajeer-7477	336	11	from	from	ADP
ajeer-7477	336	12	chinese	chinese	ADJ
ajeer-7477	336	13	provinces	province	NOUN
ajeer-7477	336	14	.	.	PUNCT
ajeer-7477	337	1	journal	journal	PROPN
ajeer-7477	337	2	of	of	ADP
ajeer-7477	337	3	comparative	comparative	ADJ
ajeer-7477	337	4	economics	economic	NOUN
ajeer-7477	337	5	,	,	PUNCT
ajeer-7477	337	6	48(4	48(4	NUM
ajeer-7477	337	7	)	)	PUNCT
ajeer-7477	337	8	,	,	PUNCT
ajeer-7477	337	9	973–990	973–990	NUM
ajeer-7477	337	10	.	.	PUNCT
ajeer-7477	338	1	nam	nam	PROPN
ajeer-7477	338	2	,	,	PUNCT
ajeer-7477	338	3	s.	s.	PROPN
ajeer-7477	338	4	(	(	PUNCT
ajeer-7477	338	5	2024	2024	NUM
ajeer-7477	338	6	)	)	PUNCT
ajeer-7477	338	7	.	.	PUNCT
ajeer-7477	339	1	financial	financial	ADJ
ajeer-7477	339	2	openness	openness	NOUN
ajeer-7477	339	3	,	,	PUNCT
ajeer-7477	339	4	financial	financial	ADJ
ajeer-7477	339	5	development	development	NOUN
ajeer-7477	339	6	,	,	PUNCT
ajeer-7477	339	7	and	and	CCONJ
ajeer-7477	339	8	economic	economic	ADJ
ajeer-7477	339	9	growth	growth	NOUN
ajeer-7477	339	10	:	:	PUNCT
ajeer-7477	339	11	a	a	DET
ajeer-7477	339	12	threshold	threshold	NOUN
ajeer-7477	339	13	analysis	analysis	NOUN
ajeer-7477	339	14	.	.	PUNCT
ajeer-7477	340	1	united	united	PROPN
ajeer-7477	340	2	states	states	PROPN
ajeer-7477	340	3	:	:	PUNCT
ajeer-7477	340	4	advance	advance	VERB
ajeer-7477	340	5	online	online	ADJ
ajeer-7477	340	6	publication	publication	NOUN
ajeer-7477	340	7	.	.	PUNCT
ajeer-7477	341	1	nasreen	nasreen	PROPN
ajeer-7477	341	2	,	,	PUNCT
ajeer-7477	341	3	s.	s.	PROPN
ajeer-7477	341	4	,	,	PUNCT
ajeer-7477	341	5	shah	shah	PROPN
ajeer-7477	341	6	,	,	PUNCT
ajeer-7477	341	7	a.	a.	PROPN
ajeer-7477	341	8	,	,	PUNCT
ajeer-7477	341	9	&	&	CCONJ
ajeer-7477	341	10	ahmed	ahmed	PROPN
ajeer-7477	341	11	,	,	PUNCT
ajeer-7477	341	12	r.	r.	PROPN
ajeer-7477	341	13	(	(	PUNCT
ajeer-7477	341	14	2020	2020	NUM
ajeer-7477	341	15	)	)	PUNCT
ajeer-7477	341	16	.	.	PUNCT
ajeer-7477	342	1	financial	financial	ADJ
ajeer-7477	342	2	openness	openness	NOUN
ajeer-7477	342	3	and	and	CCONJ
ajeer-7477	342	4	economic	economic	ADJ
ajeer-7477	342	5	growth	growth	NOUN
ajeer-7477	342	6	:	:	PUNCT
ajeer-7477	342	7	new	new	ADJ
ajeer-7477	342	8	evidence	evidence	NOUN
ajeer-7477	342	9	from	from	ADP
ajeer-7477	342	10	emerging	emerge	VERB
ajeer-7477	342	11	markets	market	NOUN
ajeer-7477	342	12	.	.	PUNCT
ajeer-7477	343	1	emerging	emerge	VERB
ajeer-7477	343	2	markets	market	NOUN
ajeer-7477	343	3	review	review	NOUN
ajeer-7477	343	4	,	,	PUNCT
ajeer-7477	343	5	44	44	NUM
ajeer-7477	343	6	,	,	PUNCT
ajeer-7477	343	7	100678	100678	NUM
ajeer-7477	343	8	.	.	PUNCT
ajeer-7477	344	1	njindan	njindan	PROPN
ajeer-7477	344	2	iyke	iyke	PROPN
ajeer-7477	344	3	,	,	PUNCT
ajeer-7477	344	4	o.	o.	PROPN
ajeer-7477	344	5	b.	b.	PROPN
ajeer-7477	344	6	,	,	PUNCT
ajeer-7477	344	7	&	&	CCONJ
ajeer-7477	344	8	odhiambo	odhiambo	PROPN
ajeer-7477	344	9	,	,	PUNCT
ajeer-7477	344	10	n.	n.	NOUN
ajeer-7477	344	11	m.	m.	NOUN
ajeer-7477	344	12	(	(	PUNCT
ajeer-7477	344	13	2017	2017	NUM
ajeer-7477	344	14	)	)	PUNCT
ajeer-7477	344	15	.	.	PUNCT
ajeer-7477	345	1	inflation	inflation	NOUN
ajeer-7477	345	2	threshold	threshold	NOUN
ajeer-7477	345	3	effects	effect	NOUN
ajeer-7477	345	4	in	in	ADP
ajeer-7477	345	5	finance	finance	NOUN
ajeer-7477	345	6	and	and	CCONJ
ajeer-7477	345	7	growth	growth	NOUN
ajeer-7477	345	8	:	:	PUNCT
ajeer-7477	345	9	evidence	evidence	NOUN
ajeer-7477	345	10	from	from	ADP
ajeer-7477	345	11	ghana	ghana	PROPN
ajeer-7477	345	12	and	and	CCONJ
ajeer-7477	345	13	nigeria	nigeria	PROPN
ajeer-7477	345	14	.	.	PUNCT
ajeer-7477	346	1	african	african	PROPN
ajeer-7477	346	2	development	development	PROPN
ajeer-7477	346	3	review	review	PROPN
ajeer-7477	346	4	,	,	PUNCT
ajeer-7477	346	5	29(3	29(3	NUM
ajeer-7477	346	6	)	)	PUNCT
ajeer-7477	346	7	,	,	PUNCT
ajeer-7477	346	8	357–370	357–370	NUM
ajeer-7477	346	9	.	.	PUNCT
ajeer-7477	347	1	obstfeld	obstfeld	VERB
ajeer-7477	347	2	,	,	PUNCT
ajeer-7477	347	3	m.	m.	NOUN
ajeer-7477	347	4	(	(	PUNCT
ajeer-7477	347	5	2009	2009	NUM
ajeer-7477	347	6	)	)	PUNCT
ajeer-7477	347	7	.	.	PUNCT
ajeer-7477	348	1	globalization	globalization	NOUN
ajeer-7477	348	2	,	,	PUNCT
ajeer-7477	348	3	financial	financial	ADJ
ajeer-7477	348	4	regulation	regulation	NOUN
ajeer-7477	348	5	,	,	PUNCT
ajeer-7477	348	6	and	and	CCONJ
ajeer-7477	348	7	capital	capital	NOUN
ajeer-7477	348	8	flows	flow	NOUN
ajeer-7477	348	9	.	.	PUNCT
ajeer-7477	349	1	in	in	ADP
ajeer-7477	349	2	j.	j.	PROPN
ajeer-7477	349	3	 	 	SPACE
ajeer-7477	349	4	r.	r.	PROPN
ajeer-7477	349	5	 	 	SPACE
ajeer-7477	349	6	hines	hines	PROPN
ajeer-7477	349	7	jr	jr	PROPN
ajeer-7477	349	8	.	.	PUNCT
ajeer-7477	350	1	(	(	PUNCT
ajeer-7477	350	2	ed	ed	NOUN
ajeer-7477	350	3	.	.	PUNCT
ajeer-7477	350	4	)	)	PUNCT
ajeer-7477	350	5	,	,	PUNCT
ajeer-7477	350	6	international	international	ADJ
ajeer-7477	350	7	finance	finance	NOUN
ajeer-7477	350	8	.	.	PUNCT
ajeer-7477	351	1	in	in	ADP
ajeer-7477	351	2	(	(	PUNCT
ajeer-7477	351	3	pp	pp	ADJ
ajeer-7477	351	4	.	.	PUNCT
ajeer-7477	351	5	15–44	15–44	NUM
ajeer-7477	351	6	)	)	PUNCT
ajeer-7477	351	7	.	.	PUNCT
ajeer-7477	352	1	cambridge	cambridge	PROPN
ajeer-7477	352	2	,	,	PUNCT
ajeer-7477	352	3	ma	ma	PROPN
ajeer-7477	352	4	:	:	PUNCT
ajeer-7477	352	5	united	united	PROPN
ajeer-7477	352	6	states	states	PROPN
ajeer-7477	352	7	:	:	PUNCT
ajeer-7477	352	8	mit	mit	VERB
ajeer-7477	352	9	press	press	NOUN
ajeer-7477	352	10	quinn	quinn	PROPN
ajeer-7477	352	11	,	,	PUNCT
ajeer-7477	352	12	d.	d.	PROPN
ajeer-7477	352	13	,	,	PUNCT
ajeer-7477	352	14	&	&	CCONJ
ajeer-7477	352	15	inclan	inclan	PROPN
ajeer-7477	352	16	,	,	PUNCT
ajeer-7477	352	17	c.	c.	PROPN
ajeer-7477	352	18	(	(	PUNCT
ajeer-7477	352	19	2009	2009	NUM
ajeer-7477	352	20	)	)	PUNCT
ajeer-7477	352	21	.	.	PUNCT
ajeer-7477	353	1	global	global	ADJ
ajeer-7477	353	2	capital	capital	NOUN
ajeer-7477	353	3	flows	flow	VERB
ajeer-7477	353	4	:	:	PUNCT
ajeer-7477	353	5	issues	issue	NOUN
ajeer-7477	353	6	and	and	CCONJ
ajeer-7477	353	7	impact	impact	NOUN
ajeer-7477	353	8	on	on	ADP
ajeer-7477	353	9	developing	develop	VERB
ajeer-7477	353	10	countries	country	NOUN
ajeer-7477	353	11	.	.	PUNCT
ajeer-7477	354	1	england	england	PROPN
ajeer-7477	354	2	,	,	PUNCT
ajeer-7477	354	3	united	united	ADJ
ajeer-7477	354	4	kingdom	kingdom	PROPN
ajeer-7477	354	5	:	:	PUNCT
ajeer-7477	354	6	oxford	oxford	PROPN
ajeer-7477	354	7	university	university	PROPN
ajeer-7477	354	8	press	press	NOUN
ajeer-7477	354	9	.	.	PUNCT
ajeer-7477	355	1	rajan	rajan	PROPN
ajeer-7477	355	2	,	,	PUNCT
ajeer-7477	355	3	r.	r.	PROPN
ajeer-7477	355	4	,	,	PUNCT
ajeer-7477	355	5	&	&	CCONJ
ajeer-7477	355	6	zingales	zingales	PROPN
ajeer-7477	355	7	,	,	PUNCT
ajeer-7477	355	8	l.	l.	PROPN
ajeer-7477	355	9	(	(	PUNCT
ajeer-7477	355	10	1996	1996	NUM
ajeer-7477	355	11	)	)	PUNCT
ajeer-7477	355	12	.	.	PUNCT
ajeer-7477	356	1	financial	financial	ADJ
ajeer-7477	356	2	dependence	dependence	NOUN
ajeer-7477	356	3	and	and	CCONJ
ajeer-7477	356	4	growth	growth	NOUN
ajeer-7477	356	5	.	.	PUNCT
ajeer-7477	357	1	american	american	PROPN
ajeer-7477	357	2	economic	economic	PROPN
ajeer-7477	357	3	review	review	PROPN
ajeer-7477	357	4	,	,	PUNCT
ajeer-7477	357	5	88(3	88(3	NUM
ajeer-7477	357	6	)	)	PUNCT
ajeer-7477	357	7	,	,	PUNCT
ajeer-7477	357	8	559–586	559–586	NUM
ajeer-7477	357	9	.	.	PUNCT
ajeer-7477	358	1	shen	shen	PROPN
ajeer-7477	358	2	,	,	PUNCT
ajeer-7477	358	3	l.	l.	PROPN
ajeer-7477	358	4	,	,	PUNCT
ajeer-7477	358	5	&	&	CCONJ
ajeer-7477	358	6	wei	wei	PROPN
ajeer-7477	358	7	,	,	PUNCT
ajeer-7477	358	8	y.	y.	PROPN
ajeer-7477	358	9	(	(	PUNCT
ajeer-7477	358	10	2021	2021	NUM
ajeer-7477	358	11	)	)	PUNCT
ajeer-7477	358	12	.	.	PUNCT
ajeer-7477	359	1	regional	regional	ADJ
ajeer-7477	359	2	financial	financial	ADJ
ajeer-7477	359	3	openness	openness	NOUN
ajeer-7477	359	4	and	and	CCONJ
ajeer-7477	359	5	risk	risk	NOUN
ajeer-7477	359	6	in	in	ADP
ajeer-7477	359	7	china	china	PROPN
ajeer-7477	359	8	:	:	PUNCT
ajeer-7477	359	9	an	an	DET
ajeer-7477	359	10	empirical	empirical	ADJ
ajeer-7477	359	11	analysis	analysis	NOUN
ajeer-7477	359	12	.	.	PUNCT
ajeer-7477	360	1	journal	journal	NOUN
ajeer-7477	360	2	of	of	ADP
ajeer-7477	360	3	asian	asian	ADJ
ajeer-7477	360	4	economics	economic	NOUN
ajeer-7477	360	5	,	,	PUNCT
ajeer-7477	360	6	73	73	NUM
ajeer-7477	360	7	,	,	PUNCT
ajeer-7477	360	8	101–115	101–115	NUM
ajeer-7477	360	9	.	.	PUNCT
ajeer-7477	361	1	stiglitz	stiglitz	PROPN
ajeer-7477	361	2	,	,	PUNCT
ajeer-7477	361	3	j.	j.	PROPN
ajeer-7477	361	4	e.	e.	PROPN
ajeer-7477	361	5	(	(	PUNCT
ajeer-7477	361	6	2002	2002	NUM
ajeer-7477	361	7	)	)	PUNCT
ajeer-7477	361	8	.	.	PUNCT
ajeer-7477	362	1	globalization	globalization	NOUN
ajeer-7477	362	2	and	and	CCONJ
ajeer-7477	362	3	its	its	PRON
ajeer-7477	362	4	discontents	discontent	NOUN
ajeer-7477	362	5	.	.	PUNCT
ajeer-7477	363	1	united	united	PROPN
ajeer-7477	363	2	states	states	PROPN
ajeer-7477	363	3	:	:	PUNCT
ajeer-7477	363	4	w.	w.	PROPN
ajeer-7477	363	5	w.	w.	PROPN
ajeer-7477	363	6	norton	norton	PROPN
ajeer-7477	363	7	.	.	PUNCT
ajeer-7477	364	1	the	the	DET
ajeer-7477	364	2	world	world	PROPN
ajeer-7477	364	3	bank	bank	PROPN
ajeer-7477	364	4	.	.	PUNCT
ajeer-7477	365	1	(	(	PUNCT
ajeer-7477	365	2	2025	2025	NUM
ajeer-7477	365	3	)	)	PUNCT
ajeer-7477	365	4	.	.	PUNCT
ajeer-7477	366	1	strengthening	strengthen	VERB
ajeer-7477	366	2	the	the	DET
ajeer-7477	366	3	financial	financial	ADJ
ajeer-7477	366	4	sector	sector	NOUN
ajeer-7477	366	5	.	.	PUNCT
ajeer-7477	367	1	washington	washington	PROPN
ajeer-7477	367	2	,	,	PUNCT
ajeer-7477	367	3	dc	dc	PROPN
ajeer-7477	367	4	:	:	PUNCT
ajeer-7477	367	5	the	the	DET
ajeer-7477	367	6	world	world	PROPN
ajeer-7477	367	7	bank	bank	PROPN
ajeer-7477	367	8	.	.	PUNCT
ajeer-7477	368	1	wooldridge	wooldridge	PROPN
ajeer-7477	368	2	,	,	PUNCT
ajeer-7477	368	3	j.	j.	PROPN
ajeer-7477	368	4	m.	m.	PROPN
ajeer-7477	368	5	(	(	PUNCT
ajeer-7477	368	6	2007	2007	NUM
ajeer-7477	368	7	)	)	PUNCT
ajeer-7477	368	8	.	.	PUNCT
ajeer-7477	369	1	introductory	introductory	ADJ
ajeer-7477	369	2	econometrics	econometrics	PROPN
ajeer-7477	369	3	:	:	PUNCT
ajeer-7477	369	4	a	a	DET
ajeer-7477	369	5	modern	modern	ADJ
ajeer-7477	369	6	approach	approach	NOUN
ajeer-7477	369	7	(	(	PUNCT
ajeer-7477	369	8	4th	4th	ADJ
ajeer-7477	369	9	ed	ed	NOUN
ajeer-7477	369	10	.	.	PUNCT
ajeer-7477	369	11	)	)	PUNCT
ajeer-7477	369	12	.	.	PUNCT
ajeer-7477	370	1	mason	mason	PROPN
ajeer-7477	370	2	,	,	PUNCT
ajeer-7477	370	3	oh	oh	INTJ
ajeer-7477	370	4	,	,	PUNCT
ajeer-7477	370	5	united	united	PROPN
ajeer-7477	370	6	states	states	PROPN
ajeer-7477	370	7	:	:	PUNCT
ajeer-7477	370	8	south	south	ADJ
ajeer-7477	370	9	-	-	PUNCT
ajeer-7477	370	10	western	western	ADJ
ajeer-7477	370	11	college	college	NOUN
ajeer-7477	370	12	publishing	publishing	NOUN
ajeer-7477	370	13	.	.	PUNCT
ajeer-7477	371	1	wu	wu	PROPN
ajeer-7477	371	2	,	,	PUNCT
ajeer-7477	371	3	j.	j.	PROPN
ajeer-7477	371	4	(	(	PUNCT
ajeer-7477	371	5	2021	2021	NUM
ajeer-7477	371	6	)	)	PUNCT
ajeer-7477	371	7	.	.	PUNCT
ajeer-7477	372	1	urban	urban	ADJ
ajeer-7477	372	2	agglomerations	agglomeration	NOUN
ajeer-7477	372	3	in	in	ADP
ajeer-7477	372	4	china	china	PROPN
ajeer-7477	372	5	:	:	PUNCT
ajeer-7477	372	6	governance	governance	NOUN
ajeer-7477	372	7	and	and	CCONJ
ajeer-7477	372	8	growth	growth	NOUN
ajeer-7477	372	9	.	.	PUNCT
ajeer-7477	373	1	journal	journal	NOUN
ajeer-7477	373	2	of	of	ADP
ajeer-7477	373	3	urban	urban	ADJ
ajeer-7477	373	4	economics	economic	NOUN
ajeer-7477	373	5	,	,	PUNCT
ajeer-7477	373	6	88	88	NUM
ajeer-7477	373	7	,	,	PUNCT
ajeer-7477	373	8	101–117	101–117	NUM
ajeer-7477	373	9	.	.	PUNCT
ajeer-7477	374	1	xie	xie	PROPN
ajeer-7477	374	2	,	,	PUNCT
ajeer-7477	374	3	f.	f.	PROPN
ajeer-7477	374	4	,	,	PUNCT
ajeer-7477	374	5	&	&	CCONJ
ajeer-7477	374	6	pan	pan	PROPN
ajeer-7477	374	7	,	,	PUNCT
ajeer-7477	374	8	j.	j.	PROPN
ajeer-7477	374	9	(	(	PUNCT
ajeer-7477	374	10	2018	2018	NUM
ajeer-7477	374	11	)	)	PUNCT
ajeer-7477	374	12	.	.	PUNCT
ajeer-7477	375	1	the	the	DET
ajeer-7477	375	2	impact	impact	NOUN
ajeer-7477	375	3	of	of	ADP
ajeer-7477	375	4	financial	financial	ADJ
ajeer-7477	375	5	openness	openness	NOUN
ajeer-7477	375	6	on	on	ADP
ajeer-7477	375	7	economic	economic	ADJ
ajeer-7477	375	8	growth	growth	NOUN
ajeer-7477	375	9	:	:	PUNCT
ajeer-7477	375	10	evidence	evidence	NOUN
ajeer-7477	375	11	from	from	ADP
ajeer-7477	375	12	china	china	PROPN
ajeer-7477	375	13	.	.	PUNCT
ajeer-7477	376	1	journal	journal	PROPN
ajeer-7477	376	2	of	of	ADP
ajeer-7477	376	3	financial	financial	ADJ
ajeer-7477	376	4	integration	integration	NOUN
ajeer-7477	376	5	,	,	PUNCT
ajeer-7477	376	6	4(2	4(2	NUM
ajeer-7477	376	7	)	)	PUNCT
ajeer-7477	376	8	,	,	PUNCT
ajeer-7477	376	9	133–154	133–154	NUM
ajeer-7477	376	10	.	.	PUNCT
ajeer-7477	377	1	zhang	zhang	PROPN
ajeer-7477	377	2	,	,	PUNCT
ajeer-7477	377	3	y.	y.	PROPN
ajeer-7477	377	4	(	(	PUNCT
ajeer-7477	377	5	2022	2022	NUM
ajeer-7477	377	6	)	)	PUNCT
ajeer-7477	377	7	.	.	PUNCT
ajeer-7477	378	1	regional	regional	ADJ
ajeer-7477	378	2	innovation	innovation	NOUN
ajeer-7477	378	3	and	and	CCONJ
ajeer-7477	378	4	economic	economic	ADJ
ajeer-7477	378	5	growth	growth	NOUN
ajeer-7477	378	6	in	in	ADP
ajeer-7477	378	7	china	china	PROPN
ajeer-7477	378	8	’s	’s	PART
ajeer-7477	378	9	urban	urban	ADJ
ajeer-7477	378	10	agglomerations	agglomeration	NOUN
ajeer-7477	378	11	.	.	PUNCT
ajeer-7477	379	1	economic	economic	ADJ
ajeer-7477	379	2	development	development	NOUN
ajeer-7477	379	3	quarterly	quarterly	ADV
ajeer-7477	379	4	,	,	PUNCT
ajeer-7477	379	5	36(1	36(1	NUM
ajeer-7477	379	6	)	)	PUNCT
ajeer-7477	379	7	,	,	PUNCT
ajeer-7477	379	8	45–60	45–60	NOUN
ajeer-7477	379	9	.	.	PUNCT
ajeer-7477	380	1	asian	asian	ADJ
ajeer-7477	380	2	online	online	PROPN
ajeer-7477	380	3	journal	journal	PROPN
ajeer-7477	380	4	publishing	publishing	NOUN
ajeer-7477	380	5	group	group	NOUN
ajeer-7477	380	6	is	be	AUX
ajeer-7477	380	7	not	not	PART
ajeer-7477	380	8	responsible	responsible	ADJ
ajeer-7477	380	9	or	or	CCONJ
ajeer-7477	380	10	answerable	answerable	ADJ
ajeer-7477	380	11	for	for	ADP
ajeer-7477	380	12	any	any	DET
ajeer-7477	380	13	loss	loss	NOUN
ajeer-7477	380	14	,	,	PUNCT
ajeer-7477	380	15	damage	damage	NOUN
ajeer-7477	380	16	or	or	CCONJ
ajeer-7477	380	17	liability	liability	NOUN
ajeer-7477	380	18	,	,	PUNCT
ajeer-7477	380	19	etc	etc	X
ajeer-7477	380	20	.	.	X
ajeer-7477	380	21	caused	cause	VERB
ajeer-7477	380	22	in	in	ADP
ajeer-7477	380	23	relation	relation	NOUN
ajeer-7477	380	24	to	to	PART
ajeer-7477	380	25	/	/	PUNCT
ajeer-7477	380	26	arising	arise	VERB
ajeer-7477	380	27	out	out	ADP
ajeer-7477	380	28	of	of	ADP
ajeer-7477	380	29	the	the	DET
ajeer-7477	380	30	use	use	NOUN
ajeer-7477	380	31	of	of	ADP
ajeer-7477	380	32	the	the	DET
ajeer-7477	380	33	content	content	NOUN
ajeer-7477	380	34	.	.	PUNCT
ajeer-7477	381	1	any	any	DET
ajeer-7477	381	2	queries	query	NOUN
ajeer-7477	381	3	should	should	AUX
ajeer-7477	381	4	be	be	AUX
ajeer-7477	381	5	directed	direct	VERB
ajeer-7477	381	6	to	to	ADP
ajeer-7477	381	7	the	the	DET
ajeer-7477	381	8	corresponding	corresponding	ADJ
ajeer-7477	381	9	author	author	NOUN
ajeer-7477	381	10	of	of	ADP
ajeer-7477	381	11	the	the	DET
ajeer-7477	381	12	article	article	NOUN
ajeer-7477	381	13	.	.	PUNCT
ajeer-7477	382	1	https://doi.org/10.1016/j.jfineco.2004.05.007	https://doi.org/10.1016/j.jfineco.2004.05.007	PROPN
ajeer-7477	382	2	https://doi.org/10.1016/j.jdeveco.2005.05.010	https://doi.org/10.1016/j.jdeveco.2005.05.010	PROPN
ajeer-7477	382	3	https://doi.org/10.1016/s0304-4076(99)00025-1	https://doi.org/10.1016/s0304-4076(99)00025-1	NOUN
ajeer-7477	382	4	https://doi.org/10.2307/2118406	https://doi.org/10.2307/2118406	NUM
ajeer-7477	382	5	https://doi.org/10.1086/450006	https://doi.org/10.1086/450006	DET