id	sid	tid	token	lemma	pos
ajfa-1874	1	1	microsoft	microsoft	PROPN
ajfa-1874	1	2	word	word	NOUN
ajfa-1874	1	3	1874	1874	NUM
ajfa-1874	1	4	-	-	SYM
ajfa-1874	1	5	7391	7391	NUM
ajfa-1874	1	6	-	-	PUNCT
ajfa-1874	1	7	2	2	NUM
ajfa-1874	1	8	-	-	PUNCT
ajfa-1874	1	9	rv[1]-writer2	rv[1]-writer2	NOUN
ajfa-1874	1	10	-	-	PUNCT
ajfa-1874	1	11	new	new	ADJ
ajfa-1874	1	12	asian	asian	ADJ
ajfa-1874	1	13	journal	journal	NOUN
ajfa-1874	1	14	of	of	ADP
ajfa-1874	1	15	finance	finance	PROPN
ajfa-1874	1	16	&	&	CCONJ
ajfa-1874	1	17	accounting	accounting	PROPN
ajfa-1874	1	18	issn	issn	PROPN
ajfa-1874	1	19	1946	1946	NUM
ajfa-1874	1	20	-	-	PUNCT
ajfa-1874	1	21	052x	052x	NOUN
ajfa-1874	1	22	2012	2012	NUM
ajfa-1874	1	23	,	,	PUNCT
ajfa-1874	1	24	vol	vol	NOUN
ajfa-1874	1	25	.	.	PROPN
ajfa-1874	1	26	4	4	NUM
ajfa-1874	1	27	,	,	PUNCT
ajfa-1874	1	28	no	no	INTJ
ajfa-1874	1	29	.	.	NOUN
ajfa-1874	1	30	2	2	NUM
ajfa-1874	1	31	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	1	32	18	18	NUM
ajfa-1874	1	33	fii	fii	NOUN
ajfa-1874	1	34	and	and	CCONJ
ajfa-1874	1	35	its	its	PRON
ajfa-1874	1	36	impact	impact	NOUN
ajfa-1874	1	37	on	on	ADP
ajfa-1874	1	38	stock	stock	NOUN
ajfa-1874	1	39	market	market	NOUN
ajfa-1874	1	40	:	:	PUNCT
ajfa-1874	1	41	a	a	DET
ajfa-1874	1	42	study	study	NOUN
ajfa-1874	1	43	on	on	ADP
ajfa-1874	1	44	lead	lead	NOUN
ajfa-1874	1	45	-	-	PUNCT
ajfa-1874	1	46	lag	lag	NOUN
ajfa-1874	1	47	and	and	CCONJ
ajfa-1874	1	48	volatility	volatility	NOUN
ajfa-1874	1	49	spillover	spillover	VERB
ajfa-1874	1	50	dr	dr	PROPN
ajfa-1874	1	51	namita	namita	PROPN
ajfa-1874	1	52	rajput	rajput	PROPN
ajfa-1874	1	53	(	(	PUNCT
ajfa-1874	1	54	corresponding	correspond	VERB
ajfa-1874	1	55	author	author	NOUN
ajfa-1874	1	56	)	)	PUNCT
ajfa-1874	1	57	associate	associate	ADJ
ajfa-1874	1	58	prof	prof	NOUN
ajfa-1874	1	59	in	in	ADP
ajfa-1874	1	60	commerce	commerce	PROPN
ajfa-1874	1	61	sri	sri	PROPN
ajfa-1874	1	62	aurobindo	aurobindo	PROPN
ajfa-1874	1	63	college	college	PROPN
ajfa-1874	1	64	(	(	PUNCT
ajfa-1874	1	65	m	m	PROPN
ajfa-1874	1	66	)	)	PUNCT
ajfa-1874	1	67	,	,	PUNCT
ajfa-1874	1	68	university	university	NOUN
ajfa-1874	1	69	of	of	ADP
ajfa-1874	1	70	delhi	delhi	PROPN
ajfa-1874	1	71	e	e	NOUN
ajfa-1874	1	72	-	-	NOUN
ajfa-1874	1	73	mail	mail	NOUN
ajfa-1874	1	74	:	:	PUNCT
ajfa-1874	2	1	drnamitarajput@ymail.com	drnamitarajput@ymail.com	X
ajfa-1874	2	2	ms	ms	PROPN
ajfa-1874	2	3	parul	parul	PROPN
ajfa-1874	2	4	chopra	chopra	PROPN
ajfa-1874	2	5	research	research	PROPN
ajfa-1874	2	6	scholar	scholar	PROPN
ajfa-1874	2	7	department	department	PROPN
ajfa-1874	2	8	of	of	ADP
ajfa-1874	2	9	management	management	NOUN
ajfa-1874	2	10	,	,	PUNCT
ajfa-1874	2	11	cmj	cmj	NOUN
ajfa-1874	2	12	,	,	PUNCT
ajfa-1874	2	13	shilong	shilong	PROPN
ajfa-1874	2	14	e	e	NOUN
ajfa-1874	2	15	-	-	NOUN
ajfa-1874	2	16	mail	mail	NOUN
ajfa-1874	2	17	:	:	PUNCT
ajfa-1874	2	18	parulchopra80@gmail.com	parulchopra80@gmail.com	PROPN
ajfa-1874	2	19	mr	mr	PROPN
ajfa-1874	2	20	ajay	ajay	PROPN
ajfa-1874	2	21	rajput	rajput	PROPN
ajfa-1874	2	22	director	director	PROPN
ajfa-1874	2	23	marketing	marketing	PROPN
ajfa-1874	2	24	,	,	PUNCT
ajfa-1874	2	25	patil	patil	PROPN
ajfa-1874	2	26	rail	rail	PROPN
ajfa-1874	2	27	infrastructure	infrastructure	PROPN
ajfa-1874	2	28	pvt	pvt	PROPN
ajfa-1874	2	29	ltd	ltd	PROPN
ajfa-1874	2	30	e	e	PROPN
ajfa-1874	2	31	-	-	NOUN
ajfa-1874	2	32	mail	mail	NOUN
ajfa-1874	2	33	:	:	PUNCT
ajfa-1874	2	34	arajputin@yahoo.co.in	arajputin@yahoo.co.in	PUNCT
ajfa-1874	2	35	received	receive	VERB
ajfa-1874	2	36	:	:	PUNCT
ajfa-1874	2	37	may	may	AUX
ajfa-1874	2	38	30	30	NUM
ajfa-1874	2	39	,	,	PUNCT
ajfa-1874	2	40	2012	2012	NUM
ajfa-1874	2	41	accepted	accept	VERB
ajfa-1874	2	42	:	:	PUNCT
ajfa-1874	2	43	june	june	PROPN
ajfa-1874	2	44	26	26	NUM
ajfa-1874	2	45	,	,	PUNCT
ajfa-1874	2	46	2012	2012	NUM
ajfa-1874	2	47	published	publish	VERB
ajfa-1874	2	48	:	:	PUNCT
ajfa-1874	2	49	december	december	PROPN
ajfa-1874	2	50	1	1	NUM
ajfa-1874	2	51	,	,	PUNCT
ajfa-1874	2	52	2012	2012	NUM
ajfa-1874	2	53	doi:10.5296	doi:10.5296	NOUN
ajfa-1874	2	54	/	/	SYM
ajfa-1874	2	55	ajfa.v4i2.1874	ajfa.v4i2.1874	NUM
ajfa-1874	2	56	url	url	NOUN
ajfa-1874	2	57	:	:	PUNCT
ajfa-1874	2	58	http://dx.doi.org/10.5296/ajfa.v4i2.1874	http://dx.doi.org/10.5296/ajfa.v4i2.1874	SCONJ
ajfa-1874	2	59	abstract	abstract	NOUN
ajfa-1874	2	60	in	in	ADP
ajfa-1874	2	61	this	this	DET
ajfa-1874	2	62	paper	paper	NOUN
ajfa-1874	2	63	we	we	PRON
ajfa-1874	2	64	examine	examine	VERB
ajfa-1874	2	65	the	the	DET
ajfa-1874	2	66	information	information	NOUN
ajfa-1874	2	67	spillover	spillover	VERB
ajfa-1874	2	68	and	and	CCONJ
ajfa-1874	2	69	volatility	volatility	NOUN
ajfa-1874	2	70	spill	spill	NOUN
ajfa-1874	2	71	-	-	PUNCT
ajfa-1874	2	72	over	over	ADP
ajfa-1874	2	73	relationship	relationship	NOUN
ajfa-1874	2	74	for	for	ADP
ajfa-1874	2	75	indian	indian	ADJ
ajfa-1874	2	76	stock	stock	NOUN
ajfa-1874	2	77	market	market	NOUN
ajfa-1874	2	78	.	.	PUNCT
ajfa-1874	3	1	we	we	PRON
ajfa-1874	3	2	cover	cover	VERB
ajfa-1874	3	3	data	datum	NOUN
ajfa-1874	3	4	during	during	ADP
ajfa-1874	3	5	1992	1992	NUM
ajfa-1874	3	6	-	-	SYM
ajfa-1874	3	7	2011	2011	NUM
ajfa-1874	3	8	.	.	PUNCT
ajfa-1874	4	1	we	we	PRON
ajfa-1874	4	2	examine	examine	VERB
ajfa-1874	4	3	if	if	SCONJ
ajfa-1874	4	4	there	there	PRON
ajfa-1874	4	5	has	have	AUX
ajfa-1874	4	6	been	be	AUX
ajfa-1874	4	7	an	an	DET
ajfa-1874	4	8	increase	increase	NOUN
ajfa-1874	4	9	in	in	ADP
ajfa-1874	4	10	volatility	volatility	NOUN
ajfa-1874	4	11	persistence	persistence	NOUN
ajfa-1874	4	12	in	in	ADP
ajfa-1874	4	13	the	the	DET
ajfa-1874	4	14	indian	indian	ADJ
ajfa-1874	4	15	stock	stock	NOUN
ajfa-1874	4	16	market	market	NOUN
ajfa-1874	4	17	on	on	ADP
ajfa-1874	4	18	after	after	SCONJ
ajfa-1874	4	19	the	the	DET
ajfa-1874	4	20	process	process	NOUN
ajfa-1874	4	21	of	of	ADP
ajfa-1874	4	22	financial	financial	ADJ
ajfa-1874	4	23	liberalization	liberalization	NOUN
ajfa-1874	4	24	initiated	initiate	VERB
ajfa-1874	4	25	in	in	ADP
ajfa-1874	4	26	india	india	PROPN
ajfa-1874	4	27	.	.	PUNCT
ajfa-1874	5	1	further	far	ADV
ajfa-1874	5	2	,	,	PUNCT
ajfa-1874	5	3	we	we	PRON
ajfa-1874	5	4	examine	examine	VERB
ajfa-1874	5	5	the	the	DET
ajfa-1874	5	6	shifts	shift	NOUN
ajfa-1874	5	7	in	in	ADP
ajfa-1874	5	8	stock	stock	NOUN
ajfa-1874	5	9	price	price	NOUN
ajfa-1874	5	10	volatility	volatility	NOUN
ajfa-1874	5	11	and	and	CCONJ
ajfa-1874	5	12	the	the	DET
ajfa-1874	5	13	nature	nature	NOUN
ajfa-1874	5	14	of	of	ADP
ajfa-1874	5	15	events	event	NOUN
ajfa-1874	5	16	that	that	PRON
ajfa-1874	5	17	apparently	apparently	ADV
ajfa-1874	5	18	cause	cause	VERB
ajfa-1874	5	19	the	the	DET
ajfa-1874	5	20	shifts	shift	NOUN
ajfa-1874	5	21	in	in	ADP
ajfa-1874	5	22	volatility	volatility	NOUN
ajfa-1874	5	23	.	.	PUNCT
ajfa-1874	6	1	we	we	PRON
ajfa-1874	6	2	examine	examine	VERB
ajfa-1874	6	3	if	if	SCONJ
ajfa-1874	6	4	there	there	PRON
ajfa-1874	6	5	has	have	AUX
ajfa-1874	6	6	been	be	AUX
ajfa-1874	6	7	an	an	DET
ajfa-1874	6	8	increase	increase	NOUN
ajfa-1874	6	9	in	in	ADP
ajfa-1874	6	10	volatility	volatility	NOUN
ajfa-1874	6	11	persistence	persistence	NOUN
ajfa-1874	6	12	in	in	ADP
ajfa-1874	6	13	the	the	DET
ajfa-1874	6	14	indian	indian	ADJ
ajfa-1874	6	15	stock	stock	NOUN
ajfa-1874	6	16	market	market	NOUN
ajfa-1874	6	17	on	on	ADP
ajfa-1874	6	18	after	after	SCONJ
ajfa-1874	6	19	the	the	DET
ajfa-1874	6	20	process	process	NOUN
ajfa-1874	6	21	of	of	ADP
ajfa-1874	6	22	financial	financial	ADJ
ajfa-1874	6	23	liberalization	liberalization	NOUN
ajfa-1874	6	24	initiated	initiate	VERB
ajfa-1874	6	25	in	in	ADP
ajfa-1874	6	26	india	india	PROPN
ajfa-1874	6	27	.	.	PUNCT
ajfa-1874	7	1	this	this	DET
ajfa-1874	7	2	paper	paper	NOUN
ajfa-1874	7	3	explores	explore	NOUN
ajfa-1874	7	4	to	to	PART
ajfa-1874	7	5	develop	develop	VERB
ajfa-1874	7	6	alternative	alternative	ADJ
ajfa-1874	7	7	models	model	NOUN
ajfa-1874	7	8	from	from	ADP
ajfa-1874	7	9	cointegration	cointegration	NOUN
ajfa-1874	7	10	,	,	PUNCT
ajfa-1874	7	11	vecm	vecm	NOUN
ajfa-1874	7	12	,	,	PUNCT
ajfa-1874	7	13	variance	variance	NOUN
ajfa-1874	7	14	de	de	NOUN
ajfa-1874	7	15	-	-	NOUN
ajfa-1874	7	16	composition	composition	NOUN
ajfa-1874	7	17	analysis	analysis	NOUN
ajfa-1874	7	18	,	,	PUNCT
ajfa-1874	7	19	granger	granger	PROPN
ajfa-1874	7	20	causality	causality	PROPN
ajfa-1874	7	21	,	,	PUNCT
ajfa-1874	7	22	block	block	NOUN
ajfa-1874	7	23	exogeneity	exogeneity	NOUN
ajfa-1874	7	24	wald	wald	NOUN
ajfa-1874	7	25	test	test	NOUN
ajfa-1874	7	26	,	,	PUNCT
ajfa-1874	7	27	impulse	impulse	ADJ
ajfa-1874	7	28	response	response	NOUN
ajfa-1874	7	29	analysis	analysis	NOUN
ajfa-1874	7	30	and	and	CCONJ
ajfa-1874	7	31	alternative	alternative	ADJ
ajfa-1874	7	32	forms	form	NOUN
ajfa-1874	7	33	of	of	ADP
ajfa-1874	7	34	the	the	DET
ajfa-1874	7	35	autoregressive	autoregressive	ADJ
ajfa-1874	7	36	conditional	conditional	ADJ
ajfa-1874	7	37	heteroscedasticity	heteroscedasticity	NOUN
ajfa-1874	7	38	(	(	PUNCT
ajfa-1874	7	39	arch	arch	NOUN
ajfa-1874	7	40	)	)	PUNCT
ajfa-1874	7	41	or	or	CCONJ
ajfa-1874	7	42	its	its	PRON
ajfa-1874	7	43	generalisation	generalisation	NOUN
ajfa-1874	7	44	,	,	PUNCT
ajfa-1874	7	45	the	the	DET
ajfa-1874	7	46	generalised	generalise	VERB
ajfa-1874	7	47	arch	arch	NOUN
ajfa-1874	7	48	(	(	PUNCT
ajfa-1874	7	49	garch	garch	NOUN
ajfa-1874	7	50	)	)	PUNCT
ajfa-1874	7	51	family	family	NOUN
ajfa-1874	7	52	,	,	PUNCT
ajfa-1874	7	53	to	to	PART
ajfa-1874	7	54	estimate	estimate	VERB
ajfa-1874	7	55	volatility	volatility	NOUN
ajfa-1874	7	56	in	in	ADP
ajfa-1874	7	57	the	the	DET
ajfa-1874	7	58	indian	indian	ADJ
ajfa-1874	7	59	equity	equity	NOUN
ajfa-1874	7	60	market	market	NOUN
ajfa-1874	7	61	return	return	NOUN
ajfa-1874	7	62	.	.	PUNCT
ajfa-1874	8	1	bidirectional	bidirectional	ADJ
ajfa-1874	8	2	informational	informational	ADJ
ajfa-1874	8	3	spillover	spillover	NOUN
ajfa-1874	8	4	is	be	AUX
ajfa-1874	8	5	confirmed	confirm	VERB
ajfa-1874	8	6	.	.	PUNCT
ajfa-1874	9	1	the	the	DET
ajfa-1874	9	2	bidirectional	bidirectional	ADJ
ajfa-1874	9	3	volatility	volatility	NOUN
ajfa-1874	9	4	spill	spill	NOUN
ajfa-1874	9	5	-	-	PUNCT
ajfa-1874	9	6	over	over	NOUN
ajfa-1874	9	7	,	,	PUNCT
ajfa-1874	9	8	persistence	persistence	NOUN
ajfa-1874	9	9	and	and	CCONJ
ajfa-1874	9	10	asian	asian	ADJ
ajfa-1874	9	11	journal	journal	NOUN
ajfa-1874	9	12	of	of	ADP
ajfa-1874	9	13	finance	finance	PROPN
ajfa-1874	9	14	&	&	CCONJ
ajfa-1874	9	15	accounting	accounting	PROPN
ajfa-1874	9	16	issn	issn	PROPN
ajfa-1874	9	17	1946	1946	NUM
ajfa-1874	9	18	-	-	PUNCT
ajfa-1874	9	19	052x	052x	NOUN
ajfa-1874	9	20	2012	2012	NUM
ajfa-1874	9	21	,	,	PUNCT
ajfa-1874	9	22	vol	vol	NOUN
ajfa-1874	9	23	.	.	PROPN
ajfa-1874	9	24	4	4	NUM
ajfa-1874	9	25	,	,	PUNCT
ajfa-1874	9	26	no	no	INTJ
ajfa-1874	9	27	.	.	NOUN
ajfa-1874	9	28	2	2	NUM
ajfa-1874	9	29	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-1874	9	30	19	19	NUM
ajfa-1874	9	31	clustering	clustering	NOUN
ajfa-1874	9	32	is	be	AUX
ajfa-1874	9	33	also	also	ADV
ajfa-1874	9	34	confirmed	confirm	VERB
ajfa-1874	9	35	in	in	ADP
ajfa-1874	9	36	the	the	DET
ajfa-1874	9	37	sample	sample	NOUN
ajfa-1874	9	38	series	series	NOUN
ajfa-1874	9	39	.	.	PUNCT
ajfa-1874	10	1	our	our	PRON
ajfa-1874	10	2	findings	finding	NOUN
ajfa-1874	10	3	have	have	VERB
ajfa-1874	10	4	implications	implication	NOUN
ajfa-1874	10	5	for	for	ADP
ajfa-1874	10	6	policy	policy	NOUN
ajfa-1874	10	7	makers	maker	NOUN
ajfa-1874	10	8	,	,	PUNCT
ajfa-1874	10	9	hedgers	hedger	NOUN
ajfa-1874	10	10	and	and	CCONJ
ajfa-1874	10	11	investors	investor	NOUN
ajfa-1874	10	12	.	.	PUNCT
ajfa-1874	11	1	the	the	DET
ajfa-1874	11	2	research	research	NOUN
ajfa-1874	11	3	contributes	contribute	VERB
ajfa-1874	11	4	to	to	ADP
ajfa-1874	11	5	present	present	ADJ
ajfa-1874	11	6	investment	investment	NOUN
ajfa-1874	11	7	literature	literature	NOUN
ajfa-1874	11	8	for	for	ADP
ajfa-1874	11	9	emerging	emerge	VERB
ajfa-1874	11	10	markets	market	NOUN
ajfa-1874	11	11	such	such	ADJ
ajfa-1874	11	12	as	as	ADP
ajfa-1874	11	13	india	india	PROPN
ajfa-1874	11	14	.	.	PUNCT
ajfa-1874	12	1	keywords	keyword	NOUN
ajfa-1874	12	2	:	:	PUNCT
ajfa-1874	12	3	price	price	NOUN
ajfa-1874	12	4	discovery	discovery	NOUN
ajfa-1874	12	5	,	,	PUNCT
ajfa-1874	12	6	granger	granger	PROPN
ajfa-1874	12	7	causality	causality	PROPN
ajfa-1874	12	8	,	,	PUNCT
ajfa-1874	12	9	vecm	vecm	NOUN
ajfa-1874	12	10	,	,	PUNCT
ajfa-1874	12	11	egarch	egarch	PROPN
ajfa-1874	12	12	,	,	PUNCT
ajfa-1874	12	13	volatility	volatility	NOUN
ajfa-1874	12	14	spill	spill	NOUN
ajfa-1874	12	15	over	over	ADP
ajfa-1874	12	16	jel	jel	PROPN
ajfa-1874	12	17	:	:	PUNCT
ajfa-1874	12	18	g13	g13	PROPN
ajfa-1874	12	19	;	;	PUNCT
ajfa-1874	12	20	g14	g14	PROPN
ajfa-1874	12	21	;	;	PUNCT
ajfa-1874	12	22	g	g	PROPN
ajfa-1874	12	23	15	15	NUM
ajfa-1874	12	24	;	;	PUNCT
ajfa-1874	12	25	g18	g18	NOUN
ajfa-1874	12	26	;	;	PUNCT
ajfa-1874	12	27	c32	c32	NOUN
ajfa-1874	12	28	;	;	PUNCT
ajfa-1874	12	29	f30	f30	NOUN
ajfa-1874	12	30	asian	asian	ADJ
ajfa-1874	12	31	journal	journal	NOUN
ajfa-1874	12	32	of	of	ADP
ajfa-1874	12	33	finance	finance	PROPN
ajfa-1874	12	34	&	&	CCONJ
ajfa-1874	12	35	accounting	accounting	PROPN
ajfa-1874	12	36	issn	issn	PROPN
ajfa-1874	12	37	1946	1946	NUM
ajfa-1874	12	38	-	-	PUNCT
ajfa-1874	12	39	052x	052x	NOUN
ajfa-1874	12	40	2012	2012	NUM
ajfa-1874	12	41	,	,	PUNCT
ajfa-1874	12	42	vol	vol	NOUN
ajfa-1874	12	43	.	.	PROPN
ajfa-1874	13	1	4	4	NUM
ajfa-1874	13	2	,	,	PUNCT
ajfa-1874	13	3	no	no	INTJ
ajfa-1874	13	4	.	.	NOUN
ajfa-1874	13	5	2	2	NUM
ajfa-1874	13	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-1874	13	7	20	20	NUM
ajfa-1874	13	8	1	1	NUM
ajfa-1874	13	9	.	.	PUNCT
ajfa-1874	14	1	introduction	introduction	NOUN
ajfa-1874	14	2	there	there	PRON
ajfa-1874	14	3	are	be	VERB
ajfa-1874	14	4	important	important	ADJ
ajfa-1874	14	5	implications	implication	NOUN
ajfa-1874	14	6	in	in	ADP
ajfa-1874	14	7	economics	economic	NOUN
ajfa-1874	14	8	and	and	CCONJ
ajfa-1874	14	9	finance	finance	NOUN
ajfa-1874	14	10	,	,	PUNCT
ajfa-1874	14	11	as	as	SCONJ
ajfa-1874	14	12	regards	regard	VERB
ajfa-1874	14	13	estimation	estimation	NOUN
ajfa-1874	14	14	of	of	ADP
ajfa-1874	14	15	volatility	volatility	NOUN
ajfa-1874	14	16	in	in	ADP
ajfa-1874	14	17	the	the	DET
ajfa-1874	14	18	equity	equity	NOUN
ajfa-1874	14	19	market	market	NOUN
ajfa-1874	14	20	.	.	PUNCT
ajfa-1874	15	1	there	there	PRON
ajfa-1874	15	2	are	be	VERB
ajfa-1874	15	3	adverse	adverse	ADJ
ajfa-1874	15	4	effects	effect	NOUN
ajfa-1874	15	5	in	in	ADP
ajfa-1874	15	6	the	the	DET
ajfa-1874	15	7	economy	economy	NOUN
ajfa-1874	15	8	because	because	SCONJ
ajfa-1874	15	9	of	of	ADP
ajfa-1874	15	10	high	high	ADJ
ajfa-1874	15	11	volatility	volatility	NOUN
ajfa-1874	15	12	in	in	ADP
ajfa-1874	15	13	the	the	DET
ajfa-1874	15	14	stock	stock	NOUN
ajfa-1874	15	15	prices	price	NOUN
ajfa-1874	15	16	and	and	CCONJ
ajfa-1874	15	17	can	can	AUX
ajfa-1874	15	18	also	also	ADV
ajfa-1874	15	19	change	change	VERB
ajfa-1874	15	20	the	the	DET
ajfa-1874	15	21	investment	investment	NOUN
ajfa-1874	15	22	decisions	decision	NOUN
ajfa-1874	15	23	by	by	ADP
ajfa-1874	15	24	investors	investor	NOUN
ajfa-1874	15	25	due	due	ADP
ajfa-1874	15	26	to	to	ADP
ajfa-1874	15	27	high	high	ADJ
ajfa-1874	15	28	volatility	volatility	NOUN
ajfa-1874	15	29	,	,	PUNCT
ajfa-1874	15	30	which	which	PRON
ajfa-1874	15	31	may	may	AUX
ajfa-1874	15	32	lead	lead	VERB
ajfa-1874	15	33	to	to	ADP
ajfa-1874	15	34	a	a	DET
ajfa-1874	15	35	fall	fall	NOUN
ajfa-1874	15	36	in	in	ADP
ajfa-1874	15	37	the	the	DET
ajfa-1874	15	38	long	long	ADJ
ajfa-1874	15	39	-	-	PUNCT
ajfa-1874	15	40	term	term	NOUN
ajfa-1874	15	41	capital	capital	NOUN
ajfa-1874	15	42	flows	flow	VERB
ajfa-1874	15	43	from	from	ADP
ajfa-1874	15	44	foreign	foreign	ADJ
ajfa-1874	15	45	as	as	ADV
ajfa-1874	15	46	well	well	ADV
ajfa-1874	15	47	as	as	ADP
ajfa-1874	15	48	domestic	domestic	ADJ
ajfa-1874	15	49	investors	investor	NOUN
ajfa-1874	15	50	.	.	PUNCT
ajfa-1874	16	1	in	in	ADP
ajfa-1874	16	2	the	the	DET
ajfa-1874	16	3	last	last	ADJ
ajfa-1874	16	4	decade	decade	NOUN
ajfa-1874	16	5	financial	financial	ADJ
ajfa-1874	16	6	crisis	crisis	NOUN
ajfa-1874	16	7	have	have	AUX
ajfa-1874	16	8	exposed	expose	VERB
ajfa-1874	16	9	that	that	SCONJ
ajfa-1874	16	10	financial	financial	ADJ
ajfa-1874	16	11	asset	asset	NOUN
ajfa-1874	16	12	price	price	NOUN
ajfa-1874	16	13	volatility	volatility	NOUN
ajfa-1874	16	14	has	have	VERB
ajfa-1874	16	15	the	the	DET
ajfa-1874	16	16	potential	potential	NOUN
ajfa-1874	16	17	to	to	PART
ajfa-1874	16	18	undermine	undermine	VERB
ajfa-1874	16	19	financial	financial	ADJ
ajfa-1874	16	20	stability	stability	NOUN
ajfa-1874	16	21	.	.	PUNCT
ajfa-1874	17	1	there	there	PRON
ajfa-1874	17	2	is	be	VERB
ajfa-1874	17	3	empirical	empirical	ADJ
ajfa-1874	17	4	evidence	evidence	NOUN
ajfa-1874	17	5	to	to	ADP
ajfa-1874	17	6	this	this	DET
ajfa-1874	17	7	context	context	NOUN
ajfa-1874	17	8	that	that	SCONJ
ajfa-1874	17	9	financial	financial	ADJ
ajfa-1874	17	10	stability	stability	NOUN
ajfa-1874	17	11	is	be	AUX
ajfa-1874	17	12	in	in	ADP
ajfa-1874	17	13	danger	danger	NOUN
ajfa-1874	17	14	more	more	ADV
ajfa-1874	17	15	by	by	ADP
ajfa-1874	17	16	abrupt	abrupt	ADJ
ajfa-1874	17	17	shifts	shift	NOUN
ajfa-1874	17	18	in	in	ADP
ajfa-1874	17	19	volatility	volatility	NOUN
ajfa-1874	17	20	rather	rather	ADV
ajfa-1874	17	21	than	than	ADP
ajfa-1874	17	22	by	by	ADP
ajfa-1874	17	23	a	a	DET
ajfa-1874	17	24	sustained	sustained	ADJ
ajfa-1874	17	25	increase	increase	NOUN
ajfa-1874	17	26	in	in	ADP
ajfa-1874	17	27	the	the	DET
ajfa-1874	17	28	level	level	NOUN
ajfa-1874	17	29	of	of	ADP
ajfa-1874	17	30	volatility	volatility	NOUN
ajfa-1874	17	31	.	.	PUNCT
ajfa-1874	18	1	hence	hence	ADV
ajfa-1874	18	2	there	there	PRON
ajfa-1874	18	3	is	be	VERB
ajfa-1874	18	4	an	an	DET
ajfa-1874	18	5	intense	intense	ADJ
ajfa-1874	18	6	need	need	NOUN
ajfa-1874	18	7	to	to	PART
ajfa-1874	18	8	have	have	AUX
ajfa-1874	18	9	the	the	DET
ajfa-1874	18	10	understanding	understanding	NOUN
ajfa-1874	18	11	of	of	ADP
ajfa-1874	18	12	volatility	volatility	NOUN
ajfa-1874	18	13	for	for	ADP
ajfa-1874	18	14	risk	risk	NOUN
ajfa-1874	18	15	management	management	NOUN
ajfa-1874	18	16	in	in	ADP
ajfa-1874	18	17	an	an	DET
ajfa-1874	18	18	economy	economy	NOUN
ajfa-1874	18	19	.	.	PUNCT
ajfa-1874	19	1	indian	indian	ADJ
ajfa-1874	19	2	stock	stock	NOUN
ajfa-1874	19	3	market	market	NOUN
ajfa-1874	19	4	was	be	AUX
ajfa-1874	19	5	opened	open	VERB
ajfa-1874	19	6	to	to	ADP
ajfa-1874	19	7	foreign	foreign	ADJ
ajfa-1874	19	8	institutional	institutional	ADJ
ajfa-1874	19	9	investors	investor	NOUN
ajfa-1874	19	10	on	on	ADP
ajfa-1874	19	11	14th	14th	ADJ
ajfa-1874	19	12	september	september	PROPN
ajfa-1874	19	13	1992	1992	NUM
ajfa-1874	19	14	.	.	PUNCT
ajfa-1874	20	1	the	the	DET
ajfa-1874	20	2	movements	movement	NOUN
ajfa-1874	20	3	in	in	ADP
ajfa-1874	20	4	the	the	DET
ajfa-1874	20	5	stock	stock	NOUN
ajfa-1874	20	6	prices	price	NOUN
ajfa-1874	20	7	are	be	AUX
ajfa-1874	20	8	influenced	influence	VERB
ajfa-1874	20	9	by	by	ADP
ajfa-1874	20	10	the	the	DET
ajfa-1874	20	11	flow	flow	NOUN
ajfa-1874	20	12	of	of	ADP
ajfa-1874	20	13	market	market	NOUN
ajfa-1874	20	14	information	information	NOUN
ajfa-1874	20	15	are	be	AUX
ajfa-1874	20	16	well	well	ADV
ajfa-1874	20	17	known	known	ADJ
ajfa-1874	20	18	to	to	ADP
ajfa-1874	20	19	everyone	everyone	PRON
ajfa-1874	20	20	and	and	CCONJ
ajfa-1874	20	21	movement	movement	NOUN
ajfa-1874	20	22	in	in	ADP
ajfa-1874	20	23	other	other	ADJ
ajfa-1874	20	24	stock	stock	NOUN
ajfa-1874	20	25	market	market	NOUN
ajfa-1874	20	26	can	can	AUX
ajfa-1874	20	27	be	be	AUX
ajfa-1874	20	28	one	one	NUM
ajfa-1874	20	29	source	source	NOUN
ajfa-1874	20	30	.	.	PUNCT
ajfa-1874	21	1	in	in	ADP
ajfa-1874	21	2	contemporary	contemporary	ADJ
ajfa-1874	21	3	world	world	NOUN
ajfa-1874	21	4	of	of	ADP
ajfa-1874	21	5	today	today	NOUN
ajfa-1874	21	6	because	because	SCONJ
ajfa-1874	21	7	of	of	ADP
ajfa-1874	21	8	trading	trading	NOUN
ajfa-1874	21	9	mechanism	mechanism	NOUN
ajfa-1874	21	10	and	and	CCONJ
ajfa-1874	21	11	investment	investment	NOUN
ajfa-1874	21	12	patterns	pattern	NOUN
ajfa-1874	21	13	there	there	PRON
ajfa-1874	21	14	can	can	AUX
ajfa-1874	21	15	be	be	AUX
ajfa-1874	21	16	information	information	NOUN
ajfa-1874	21	17	spillover	spillover	NOUN
ajfa-1874	21	18	of	of	ADP
ajfa-1874	21	19	one	one	NUM
ajfa-1874	21	20	market	market	NOUN
ajfa-1874	21	21	to	to	ADP
ajfa-1874	21	22	another	another	PRON
ajfa-1874	21	23	.	.	PUNCT
ajfa-1874	22	1	hence	hence	ADV
ajfa-1874	22	2	return	return	VERB
ajfa-1874	22	3	patterns	pattern	NOUN
ajfa-1874	22	4	of	of	ADP
ajfa-1874	22	5	two	two	NUM
ajfa-1874	22	6	different	different	ADJ
ajfa-1874	22	7	markets	market	NOUN
ajfa-1874	22	8	might	might	AUX
ajfa-1874	22	9	affect	affect	VERB
ajfa-1874	22	10	each	each	DET
ajfa-1874	22	11	other	other	ADJ
ajfa-1874	22	12	.	.	PUNCT
ajfa-1874	23	1	economies	economy	NOUN
ajfa-1874	23	2	are	be	AUX
ajfa-1874	23	3	becoming	become	VERB
ajfa-1874	23	4	increasingly	increasingly	ADV
ajfa-1874	23	5	interrelated	interrelated	ADJ
ajfa-1874	23	6	and	and	CCONJ
ajfa-1874	23	7	integrating	integrate	VERB
ajfa-1874	23	8	themselves	themselves	PRON
ajfa-1874	23	9	to	to	ADP
ajfa-1874	23	10	the	the	DET
ajfa-1874	23	11	world	world	NOUN
ajfa-1874	23	12	economy	economy	NOUN
ajfa-1874	23	13	because	because	SCONJ
ajfa-1874	23	14	of	of	ADP
ajfa-1874	23	15	higher	high	ADJ
ajfa-1874	23	16	degree	degree	NOUN
ajfa-1874	23	17	of	of	ADP
ajfa-1874	23	18	openness	openness	NOUN
ajfa-1874	23	19	in	in	ADP
ajfa-1874	23	20	the	the	DET
ajfa-1874	23	21	economies	economy	NOUN
ajfa-1874	23	22	(	(	PUNCT
ajfa-1874	23	23	vide	vide	PROPN
ajfa-1874	23	24	john	john	PROPN
ajfa-1874	23	25	et	et	PROPN
ajfa-1874	23	26	.	.	PUNCT
ajfa-1874	24	1	al	al	PROPN
ajfa-1874	24	2	.	.	PUNCT
ajfa-1874	25	1	(	(	PUNCT
ajfa-1874	25	2	1995).all	1995).all	NUM
ajfa-1874	25	3	the	the	DET
ajfa-1874	25	4	decisions	decision	NOUN
ajfa-1874	25	5	of	of	ADP
ajfa-1874	25	6	portfolio	portfolio	NOUN
ajfa-1874	25	7	investment	investment	NOUN
ajfa-1874	25	8	are	be	AUX
ajfa-1874	25	9	taken	take	VERB
ajfa-1874	25	10	embedding	embed	VERB
ajfa-1874	25	11	the	the	DET
ajfa-1874	25	12	information	information	NOUN
ajfa-1874	25	13	relating	relate	VERB
ajfa-1874	25	14	to	to	ADP
ajfa-1874	25	15	these	these	DET
ajfa-1874	25	16	price	price	NOUN
ajfa-1874	25	17	movements	movement	NOUN
ajfa-1874	25	18	and	and	CCONJ
ajfa-1874	25	19	volatility	volatility	NOUN
ajfa-1874	25	20	as	as	SCONJ
ajfa-1874	25	21	regards	regard	NOUN
ajfa-1874	25	22	assets	asset	NOUN
ajfa-1874	25	23	traded	trade	VERB
ajfa-1874	25	24	.	.	PUNCT
ajfa-1874	26	1	this	this	PRON
ajfa-1874	26	2	can	can	AUX
ajfa-1874	26	3	lead	lead	VERB
ajfa-1874	26	4	to	to	ADP
ajfa-1874	26	5	reducing	reduce	VERB
ajfa-1874	26	6	or	or	CCONJ
ajfa-1874	26	7	gaining	gain	VERB
ajfa-1874	26	8	out	out	ADP
ajfa-1874	26	9	of	of	ADP
ajfa-1874	26	10	diversification	diversification	NOUN
ajfa-1874	26	11	across	across	ADP
ajfa-1874	26	12	border	border	NOUN
ajfa-1874	26	13	investment	investment	NOUN
ajfa-1874	26	14	in	in	ADP
ajfa-1874	26	15	portfolios	portfolio	NOUN
ajfa-1874	26	16	.	.	PUNCT
ajfa-1874	27	1	the	the	DET
ajfa-1874	27	2	market	market	NOUN
ajfa-1874	27	3	traders	trader	NOUN
ajfa-1874	27	4	have	have	VERB
ajfa-1874	27	5	to	to	PART
ajfa-1874	27	6	formulate	formulate	VERB
ajfa-1874	27	7	hedging	hedging	NOUN
ajfa-1874	27	8	,	,	PUNCT
ajfa-1874	27	9	regulatory	regulatory	ADJ
ajfa-1874	27	10	and	and	CCONJ
ajfa-1874	27	11	portfolio	portfolio	NOUN
ajfa-1874	27	12	strategies	strategy	NOUN
ajfa-1874	27	13	,	,	PUNCT
ajfa-1874	27	14	for	for	ADP
ajfa-1874	27	15	this	this	PRON
ajfa-1874	27	16	they	they	PRON
ajfa-1874	27	17	have	have	VERB
ajfa-1874	27	18	to	to	PART
ajfa-1874	27	19	completely	completely	ADV
ajfa-1874	27	20	understand	understand	VERB
ajfa-1874	27	21	the	the	DET
ajfa-1874	27	22	behaviour	behaviour	NOUN
ajfa-1874	27	23	of	of	ADP
ajfa-1874	27	24	the	the	DET
ajfa-1874	27	25	market	market	NOUN
ajfa-1874	27	26	in	in	ADP
ajfa-1874	27	27	the	the	DET
ajfa-1874	27	28	global	global	ADJ
ajfa-1874	27	29	context	context	NOUN
ajfa-1874	27	30	.	.	PUNCT
ajfa-1874	28	1	this	this	DET
ajfa-1874	28	2	scenario	scenario	NOUN
ajfa-1874	28	3	has	have	AUX
ajfa-1874	28	4	led	lead	VERB
ajfa-1874	28	5	to	to	ADP
ajfa-1874	28	6	increased	increase	VERB
ajfa-1874	28	7	capital	capital	NOUN
ajfa-1874	28	8	flows	flow	NOUN
ajfa-1874	28	9	from	from	ADP
ajfa-1874	28	10	fiis	fiis	NOUN
ajfa-1874	28	11	to	to	ADP
ajfa-1874	28	12	emerging	emerge	VERB
ajfa-1874	28	13	economies	economy	NOUN
ajfa-1874	28	14	like	like	ADP
ajfa-1874	28	15	india	india	PROPN
ajfa-1874	28	16	with	with	ADP
ajfa-1874	28	17	expanding	expand	VERB
ajfa-1874	28	18	stock	stock	NOUN
ajfa-1874	28	19	market	market	NOUN
ajfa-1874	28	20	.	.	PUNCT
ajfa-1874	29	1	there	there	PRON
ajfa-1874	29	2	are	be	VERB
ajfa-1874	29	3	many	many	ADJ
ajfa-1874	29	4	factors	factor	NOUN
ajfa-1874	29	5	which	which	PRON
ajfa-1874	29	6	have	have	AUX
ajfa-1874	29	7	led	lead	VERB
ajfa-1874	29	8	to	to	ADP
ajfa-1874	29	9	the	the	DET
ajfa-1874	29	10	growth	growth	NOUN
ajfa-1874	29	11	of	of	ADP
ajfa-1874	29	12	financial	financial	ADJ
ajfa-1874	29	13	integration	integration	NOUN
ajfa-1874	29	14	of	of	ADP
ajfa-1874	29	15	indian	indian	ADJ
ajfa-1874	29	16	capital	capital	NOUN
ajfa-1874	29	17	market	market	NOUN
ajfa-1874	29	18	into	into	ADP
ajfa-1874	29	19	world	world	NOUN
ajfa-1874	29	20	economy	economy	NOUN
ajfa-1874	29	21	like	like	ADP
ajfa-1874	29	22	communication	communication	NOUN
ajfa-1874	29	23	technology	technology	NOUN
ajfa-1874	29	24	,	,	PUNCT
ajfa-1874	29	25	computerization	computerization	NOUN
ajfa-1874	29	26	of	of	ADP
ajfa-1874	29	27	trading	trading	NOUN
ajfa-1874	29	28	system	system	NOUN
ajfa-1874	29	29	,	,	PUNCT
ajfa-1874	29	30	increased	increase	VERB
ajfa-1874	29	31	pace	pace	NOUN
ajfa-1874	29	32	of	of	ADP
ajfa-1874	29	33	multinational	multinational	ADJ
ajfa-1874	29	34	corporations	corporation	NOUN
ajfa-1874	29	35	etc	etc	X
ajfa-1874	29	36	.	.	X
ajfa-1874	30	1	there	there	PRON
ajfa-1874	30	2	is	be	VERB
ajfa-1874	30	3	a	a	DET
ajfa-1874	30	4	tremendous	tremendous	ADJ
ajfa-1874	30	5	change	change	NOUN
ajfa-1874	30	6	in	in	ADP
ajfa-1874	30	7	the	the	DET
ajfa-1874	30	8	nature	nature	NOUN
ajfa-1874	30	9	,	,	PUNCT
ajfa-1874	30	10	extent	extent	NOUN
ajfa-1874	30	11	and	and	CCONJ
ajfa-1874	30	12	magnitude	magnitude	NOUN
ajfa-1874	30	13	of	of	ADP
ajfa-1874	30	14	the	the	DET
ajfa-1874	30	15	investment	investment	NOUN
ajfa-1874	30	16	done	do	VERB
ajfa-1874	30	17	by	by	ADP
ajfa-1874	30	18	theses	thesis	NOUN
ajfa-1874	30	19	fiis	fiis	NOUN
ajfa-1874	30	20	.	.	PUNCT
ajfa-1874	31	1	there	there	PRON
ajfa-1874	31	2	are	be	VERB
ajfa-1874	31	3	diverse	diverse	ADJ
ajfa-1874	31	4	view	view	NOUN
ajfa-1874	31	5	of	of	ADP
ajfa-1874	31	6	fiis	fiis	ADJ
ajfa-1874	31	7	investment	investment	NOUN
ajfa-1874	31	8	in	in	ADP
ajfa-1874	31	9	emerging	emerge	VERB
ajfa-1874	31	10	economies	economy	NOUN
ajfa-1874	31	11	in	in	ADP
ajfa-1874	31	12	general	general	ADJ
ajfa-1874	31	13	and	and	CCONJ
ajfa-1874	31	14	india	india	PROPN
ajfa-1874	31	15	in	in	ADP
ajfa-1874	31	16	particular	particular	ADJ
ajfa-1874	31	17	;	;	PUNCT
ajfa-1874	31	18	one	one	NUM
ajfa-1874	31	19	view	view	NOUN
ajfa-1874	31	20	is	be	AUX
ajfa-1874	31	21	that	that	SCONJ
ajfa-1874	31	22	fiis	fiis	NOUN
ajfa-1874	31	23	are	be	AUX
ajfa-1874	31	24	believed	believe	VERB
ajfa-1874	31	25	to	to	PART
ajfa-1874	31	26	improve	improve	VERB
ajfa-1874	31	27	market	market	NOUN
ajfa-1874	31	28	efficiency	efficiency	NOUN
ajfa-1874	31	29	and	and	CCONJ
ajfa-1874	31	30	helps	help	VERB
ajfa-1874	31	31	in	in	ADP
ajfa-1874	31	32	lowering	lower	VERB
ajfa-1874	31	33	the	the	DET
ajfa-1874	31	34	cost	cost	NOUN
ajfa-1874	31	35	of	of	ADP
ajfa-1874	31	36	capital	capital	NOUN
ajfa-1874	31	37	the	the	DET
ajfa-1874	31	38	other	other	ADJ
ajfa-1874	31	39	view	view	NOUN
ajfa-1874	31	40	holds	hold	VERB
ajfa-1874	31	41	fiis	fiis	NOUN
ajfa-1874	31	42	responsible	responsible	ADJ
ajfa-1874	31	43	for	for	ADP
ajfa-1874	31	44	increasing	increase	VERB
ajfa-1874	31	45	the	the	DET
ajfa-1874	31	46	volatility	volatility	NOUN
ajfa-1874	31	47	in	in	ADP
ajfa-1874	31	48	stock	stock	NOUN
ajfa-1874	31	49	markets	market	NOUN
ajfa-1874	31	50	.	.	PUNCT
ajfa-1874	32	1	india	india	PROPN
ajfa-1874	32	2	is	be	AUX
ajfa-1874	32	3	considered	consider	VERB
ajfa-1874	32	4	as	as	ADP
ajfa-1874	32	5	a	a	DET
ajfa-1874	32	6	good	good	ADJ
ajfa-1874	32	7	investment	investment	NOUN
ajfa-1874	32	8	centre	centre	NOUN
ajfa-1874	32	9	after	after	SCONJ
ajfa-1874	32	10	the	the	DET
ajfa-1874	32	11	restrictions	restriction	NOUN
ajfa-1874	32	12	are	be	AUX
ajfa-1874	32	13	lifted	lift	VERB
ajfa-1874	32	14	in	in	ADP
ajfa-1874	32	15	a	a	DET
ajfa-1874	32	16	liberalised	liberalise	VERB
ajfa-1874	32	17	regime	regime	NOUN
ajfa-1874	32	18	.	.	PUNCT
ajfa-1874	33	1	there	there	PRON
ajfa-1874	33	2	has	have	AUX
ajfa-1874	33	3	been	be	AUX
ajfa-1874	33	4	increase	increase	NOUN
ajfa-1874	33	5	in	in	ADP
ajfa-1874	33	6	the	the	DET
ajfa-1874	33	7	capital	capital	NOUN
ajfa-1874	33	8	flows	flow	VERB
ajfa-1874	33	9	into	into	ADP
ajfa-1874	33	10	the	the	DET
ajfa-1874	33	11	country	country	NOUN
ajfa-1874	33	12	which	which	PRON
ajfa-1874	33	13	is	be	AUX
ajfa-1874	33	14	strong	strong	ADJ
ajfa-1874	33	15	evidence	evidence	NOUN
ajfa-1874	33	16	to	to	ADP
ajfa-1874	33	17	this	this	DET
ajfa-1874	33	18	context	context	NOUN
ajfa-1874	33	19	see	see	VERB
ajfa-1874	33	20	,	,	PUNCT
ajfa-1874	33	21	figure	figure	VERB
ajfa-1874	33	22	1	1	NUM
ajfa-1874	33	23	below	below	ADV
ajfa-1874	33	24	.	.	PUNCT
ajfa-1874	34	1	asian	asian	ADJ
ajfa-1874	34	2	journal	journal	PROPN
ajfa-1874	34	3	of	of	ADP
ajfa-1874	34	4	finance	finance	PROPN
ajfa-1874	34	5	&	&	CCONJ
ajfa-1874	34	6	accounting	accounting	PROPN
ajfa-1874	34	7	issn	issn	PROPN
ajfa-1874	34	8	1946	1946	NUM
ajfa-1874	34	9	-	-	PUNCT
ajfa-1874	34	10	052x	052x	NOUN
ajfa-1874	34	11	2012	2012	NUM
ajfa-1874	34	12	,	,	PUNCT
ajfa-1874	34	13	vol	vol	NOUN
ajfa-1874	34	14	.	.	PROPN
ajfa-1874	34	15	4	4	NUM
ajfa-1874	34	16	,	,	PUNCT
ajfa-1874	34	17	no	no	INTJ
ajfa-1874	34	18	.	.	NOUN
ajfa-1874	34	19	2	2	NUM
ajfa-1874	34	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	34	21	21	21	NUM
ajfa-1874	34	22	figure	figure	NOUN
ajfa-1874	34	23	1	1	NUM
ajfa-1874	34	24	.	.	PUNCT
ajfa-1874	34	25	fii	fii	PROPN
ajfa-1874	34	26	equity	equity	PROPN
ajfa-1874	34	27	and	and	CCONJ
ajfa-1874	34	28	debt	debt	NOUN
ajfa-1874	34	29	investment	investment	NOUN
ajfa-1874	34	30	source	source	NOUN
ajfa-1874	34	31	:	:	PUNCT
ajfa-1874	34	32	www.nseindia.com	www.nseindia.com	PROPN
ajfa-1874	34	33	fii	fii	PROPN
ajfa-1874	34	34	inflows	inflow	NOUN
ajfa-1874	34	35	and	and	CCONJ
ajfa-1874	34	36	stock	stock	NOUN
ajfa-1874	34	37	market	market	NOUN
ajfa-1874	34	38	levels	level	NOUN
ajfa-1874	34	39	is	be	AUX
ajfa-1874	34	40	widely	widely	ADV
ajfa-1874	34	41	cited	cite	VERB
ajfa-1874	34	42	,	,	PUNCT
ajfa-1874	34	43	and	and	CCONJ
ajfa-1874	34	44	many	many	ADJ
ajfa-1874	34	45	studies	study	NOUN
ajfa-1874	34	46	have	have	AUX
ajfa-1874	34	47	concluded	conclude	VERB
ajfa-1874	34	48	that	that	SCONJ
ajfa-1874	34	49	theses	theses	X
ajfa-1874	34	50	fiis	fiis	NOUN
ajfa-1874	34	51	cause	cause	VERB
ajfa-1874	34	52	volatility	volatility	NOUN
ajfa-1874	34	53	in	in	ADP
ajfa-1874	34	54	the	the	DET
ajfa-1874	34	55	stock	stock	NOUN
ajfa-1874	34	56	market	market	NOUN
ajfa-1874	34	57	.	.	PUNCT
ajfa-1874	35	1	however	however	ADV
ajfa-1874	35	2	,	,	PUNCT
ajfa-1874	35	3	the	the	DET
ajfa-1874	35	4	level	level	NOUN
ajfa-1874	35	5	of	of	ADP
ajfa-1874	35	6	the	the	DET
ajfa-1874	35	7	stock	stock	NOUN
ajfa-1874	35	8	market	market	NOUN
ajfa-1874	35	9	and	and	CCONJ
ajfa-1874	35	10	the	the	DET
ajfa-1874	35	11	volatility	volatility	NOUN
ajfa-1874	35	12	of	of	ADP
ajfa-1874	35	13	the	the	DET
ajfa-1874	35	14	stock	stock	NOUN
ajfa-1874	35	15	market	market	NOUN
ajfa-1874	35	16	are	be	AUX
ajfa-1874	35	17	two	two	NUM
ajfa-1874	35	18	distinct	distinct	ADJ
ajfa-1874	35	19	statistics	statistic	NOUN
ajfa-1874	35	20	,	,	PUNCT
ajfa-1874	35	21	and	and	CCONJ
ajfa-1874	35	22	such	such	ADJ
ajfa-1874	35	23	conclusions	conclusion	NOUN
ajfa-1874	35	24	are	be	AUX
ajfa-1874	35	25	unwarranted	unwarranted	ADJ
ajfa-1874	35	26	.	.	PUNCT
ajfa-1874	36	1	while	while	SCONJ
ajfa-1874	36	2	the	the	DET
ajfa-1874	36	3	stock	stock	NOUN
ajfa-1874	36	4	market	market	NOUN
ajfa-1874	36	5	level	level	NOUN
ajfa-1874	36	6	may	may	AUX
ajfa-1874	36	7	change	change	VERB
ajfa-1874	36	8	over	over	ADP
ajfa-1874	36	9	time	time	NOUN
ajfa-1874	36	10	,	,	PUNCT
ajfa-1874	36	11	volatility	volatility	NOUN
ajfa-1874	36	12	refers	refer	VERB
ajfa-1874	36	13	to	to	ADP
ajfa-1874	36	14	the	the	DET
ajfa-1874	36	15	short	short	ADJ
ajfa-1874	36	16	run	run	NOUN
ajfa-1874	36	17	fluctuations	fluctuation	NOUN
ajfa-1874	36	18	of	of	ADP
ajfa-1874	36	19	the	the	DET
ajfa-1874	36	20	stock	stock	NOUN
ajfa-1874	36	21	market	market	NOUN
ajfa-1874	36	22	around	around	ADP
ajfa-1874	36	23	the	the	DET
ajfa-1874	36	24	trend	trend	NOUN
ajfa-1874	36	25	that	that	PRON
ajfa-1874	36	26	captures	capture	VERB
ajfa-1874	36	27	the	the	DET
ajfa-1874	36	28	level	level	NOUN
ajfa-1874	36	29	of	of	ADP
ajfa-1874	36	30	the	the	DET
ajfa-1874	36	31	stock	stock	NOUN
ajfa-1874	36	32	market	market	NOUN
ajfa-1874	36	33	.if	.if	PUNCT
ajfa-1874	37	1	the	the	DET
ajfa-1874	37	2	market	market	NOUN
ajfa-1874	37	3	index	index	NOUN
ajfa-1874	37	4	exhibits	exhibit	VERB
ajfa-1874	37	5	wild	wild	ADJ
ajfa-1874	37	6	fluctuations	fluctuation	NOUN
ajfa-1874	37	7	within	within	ADP
ajfa-1874	37	8	a	a	DET
ajfa-1874	37	9	short	short	ADJ
ajfa-1874	37	10	span	span	NOUN
ajfa-1874	37	11	of	of	ADP
ajfa-1874	37	12	time	time	NOUN
ajfa-1874	37	13	,	,	PUNCT
ajfa-1874	37	14	the	the	DET
ajfa-1874	37	15	research	research	NOUN
ajfa-1874	37	16	question	question	NOUN
ajfa-1874	37	17	is	be	AUX
ajfa-1874	37	18	:	:	PUNCT
ajfa-1874	37	19	what	what	PRON
ajfa-1874	37	20	is	be	AUX
ajfa-1874	37	21	the	the	DET
ajfa-1874	37	22	role	role	NOUN
ajfa-1874	37	23	of	of	ADP
ajfa-1874	37	24	fii	fii	PROPN
ajfa-1874	37	25	trading	trading	NOUN
ajfa-1874	37	26	in	in	ADP
ajfa-1874	37	27	causing	cause	VERB
ajfa-1874	37	28	this	this	DET
ajfa-1874	37	29	short	short	ADJ
ajfa-1874	37	30	term	term	NOUN
ajfa-1874	37	31	volatility	volatility	NOUN
ajfa-1874	37	32	?	?	PUNCT
ajfa-1874	38	1	regulators	regulator	NOUN
ajfa-1874	38	2	are	be	AUX
ajfa-1874	38	3	concerned	concerned	ADJ
ajfa-1874	38	4	about	about	ADP
ajfa-1874	38	5	such	such	ADJ
ajfa-1874	38	6	abnormal	abnormal	ADJ
ajfa-1874	38	7	short	short	ADJ
ajfa-1874	38	8	run	run	NOUN
ajfa-1874	38	9	movements	movement	NOUN
ajfa-1874	38	10	in	in	ADP
ajfa-1874	38	11	the	the	DET
ajfa-1874	38	12	stock	stock	NOUN
ajfa-1874	38	13	market	market	NOUN
ajfa-1874	38	14	and	and	CCONJ
ajfa-1874	38	15	to	to	ADP
ajfa-1874	38	16	what	what	DET
ajfa-1874	38	17	extent	extent	NOUN
ajfa-1874	38	18	fiis	fiis	NOUN
ajfa-1874	38	19	are	be	AUX
ajfa-1874	38	20	responsible	responsible	ADJ
ajfa-1874	38	21	for	for	ADP
ajfa-1874	38	22	this	this	DET
ajfa-1874	38	23	type	type	NOUN
ajfa-1874	38	24	of	of	ADP
ajfa-1874	38	25	volatility	volatility	NOUN
ajfa-1874	38	26	.	.	PUNCT
ajfa-1874	39	1	the	the	DET
ajfa-1874	39	2	existence	existence	NOUN
ajfa-1874	39	3	of	of	ADP
ajfa-1874	39	4	volatility	volatility	NOUN
ajfa-1874	39	5	also	also	ADV
ajfa-1874	39	6	demoralizes	demoralize	VERB
ajfa-1874	39	7	the	the	DET
ajfa-1874	39	8	expediency	expediency	NOUN
ajfa-1874	39	9	of	of	ADP
ajfa-1874	39	10	stock	stock	NOUN
ajfa-1874	39	11	prices	price	NOUN
ajfa-1874	39	12	as	as	ADP
ajfa-1874	39	13	a	a	DET
ajfa-1874	39	14	“	"	PUNCT
ajfa-1874	39	15	signal	signal	NOUN
ajfa-1874	39	16	”	"	PUNCT
ajfa-1874	39	17	about	about	ADP
ajfa-1874	39	18	the	the	DET
ajfa-1874	39	19	true	true	ADJ
ajfa-1874	39	20	intrinsic	intrinsic	ADJ
ajfa-1874	39	21	value	value	NOUN
ajfa-1874	39	22	of	of	ADP
ajfa-1874	39	23	a	a	DET
ajfa-1874	39	24	firm	firm	NOUN
ajfa-1874	39	25	,	,	PUNCT
ajfa-1874	39	26	which	which	PRON
ajfa-1874	39	27	is	be	AUX
ajfa-1874	39	28	core	core	NOUN
ajfa-1874	39	29	to	to	ADP
ajfa-1874	39	30	the	the	DET
ajfa-1874	39	31	concept	concept	NOUN
ajfa-1874	39	32	of	of	ADP
ajfa-1874	39	33	informational	informational	ADJ
ajfa-1874	39	34	efficiency	efficiency	NOUN
ajfa-1874	39	35	of	of	ADP
ajfa-1874	39	36	markets	market	NOUN
ajfa-1874	39	37	.	.	PUNCT
ajfa-1874	40	1	inference	inference	NOUN
ajfa-1874	40	2	of	of	ADP
ajfa-1874	40	3	volatility	volatility	NOUN
ajfa-1874	40	4	and	and	CCONJ
ajfa-1874	40	5	its	its	PRON
ajfa-1874	40	6	forecasting	forecasting	NOUN
ajfa-1874	40	7	has	have	AUX
ajfa-1874	40	8	become	become	VERB
ajfa-1874	40	9	a	a	DET
ajfa-1874	40	10	very	very	ADV
ajfa-1874	40	11	important	important	ADJ
ajfa-1874	40	12	tool	tool	NOUN
ajfa-1874	40	13	of	of	ADP
ajfa-1874	40	14	risk	risk	NOUN
ajfa-1874	40	15	management	management	NOUN
ajfa-1874	40	16	exercise	exercise	NOUN
ajfa-1874	40	17	for	for	ADP
ajfa-1874	40	18	economies	economy	NOUN
ajfa-1874	40	19	and	and	CCONJ
ajfa-1874	40	20	financial	financial	ADJ
ajfa-1874	40	21	institutions	institution	NOUN
ajfa-1874	40	22	across	across	ADP
ajfa-1874	40	23	the	the	DET
ajfa-1874	40	24	globe	globe	NOUN
ajfa-1874	40	25	.	.	PUNCT
ajfa-1874	41	1	in	in	ADP
ajfa-1874	41	2	this	this	DET
ajfa-1874	41	3	paper	paper	NOUN
ajfa-1874	41	4	an	an	DET
ajfa-1874	41	5	attempt	attempt	NOUN
ajfa-1874	41	6	is	be	AUX
ajfa-1874	41	7	made	make	VERB
ajfa-1874	41	8	to	to	PART
ajfa-1874	41	9	examine	examine	VERB
ajfa-1874	41	10	the	the	DET
ajfa-1874	41	11	shifts	shift	NOUN
ajfa-1874	41	12	in	in	ADP
ajfa-1874	41	13	stock	stock	NOUN
ajfa-1874	41	14	price	price	NOUN
ajfa-1874	41	15	volatility	volatility	NOUN
ajfa-1874	41	16	and	and	CCONJ
ajfa-1874	41	17	the	the	DET
ajfa-1874	41	18	nature	nature	NOUN
ajfa-1874	41	19	of	of	ADP
ajfa-1874	41	20	events	event	NOUN
ajfa-1874	41	21	that	that	PRON
ajfa-1874	41	22	apparently	apparently	ADV
ajfa-1874	41	23	cause	cause	VERB
ajfa-1874	41	24	the	the	DET
ajfa-1874	41	25	shifts	shift	NOUN
ajfa-1874	41	26	in	in	ADP
ajfa-1874	41	27	volatility	volatility	NOUN
ajfa-1874	41	28	.	.	PUNCT
ajfa-1874	42	1	this	this	PRON
ajfa-1874	42	2	will	will	AUX
ajfa-1874	42	3	enable	enable	VERB
ajfa-1874	42	4	us	we	PRON
ajfa-1874	42	5	to	to	PART
ajfa-1874	42	6	identify	identify	VERB
ajfa-1874	42	7	if	if	SCONJ
ajfa-1874	42	8	a	a	DET
ajfa-1874	42	9	coincidence	coincidence	NOUN
ajfa-1874	42	10	between	between	ADP
ajfa-1874	42	11	the	the	DET
ajfa-1874	42	12	shifts	shift	NOUN
ajfa-1874	42	13	in	in	ADP
ajfa-1874	42	14	stock	stock	NOUN
ajfa-1874	42	15	return	return	NOUN
ajfa-1874	42	16	volatility	volatility	NOUN
ajfa-1874	42	17	and	and	CCONJ
ajfa-1874	42	18	financial	financial	ADJ
ajfa-1874	42	19	liberalization	liberalization	NOUN
ajfa-1874	42	20	exists	exist	VERB
ajfa-1874	42	21	.	.	PUNCT
ajfa-1874	43	1	we	we	PRON
ajfa-1874	43	2	also	also	ADV
ajfa-1874	43	3	make	make	VERB
ajfa-1874	43	4	an	an	DET
ajfa-1874	43	5	attempt	attempt	NOUN
ajfa-1874	43	6	to	to	PART
ajfa-1874	43	7	characterize	characterize	VERB
ajfa-1874	43	8	the	the	DET
ajfa-1874	43	9	evolution	evolution	NOUN
ajfa-1874	43	10	of	of	ADP
ajfa-1874	43	11	the	the	DET
ajfa-1874	43	12	stock	stock	NOUN
ajfa-1874	43	13	market	market	NOUN
ajfa-1874	43	14	cycles	cycle	NOUN
ajfa-1874	43	15	over	over	ADP
ajfa-1874	43	16	time	time	NOUN
ajfa-1874	43	17	in	in	ADP
ajfa-1874	43	18	india	india	PROPN
ajfa-1874	43	19	and	and	CCONJ
ajfa-1874	43	20	examine	examine	VERB
ajfa-1874	43	21	if	if	SCONJ
ajfa-1874	43	22	in	in	ADP
ajfa-1874	43	23	recent	recent	ADJ
ajfa-1874	43	24	times	time	NOUN
ajfa-1874	43	25	the	the	DET
ajfa-1874	43	26	stock	stock	NOUN
ajfa-1874	43	27	market	market	NOUN
ajfa-1874	43	28	cycles	cycle	NOUN
ajfa-1874	43	29	have	have	AUX
ajfa-1874	43	30	exhibited	exhibit	VERB
ajfa-1874	43	31	greater	great	ADJ
ajfa-1874	43	32	amplitude	amplitude	NOUN
ajfa-1874	43	33	and	and	CCONJ
ajfa-1874	43	34	volatility	volatility	NOUN
ajfa-1874	43	35	.	.	PUNCT
ajfa-1874	44	1	the	the	DET
ajfa-1874	44	2	analysis	analysis	NOUN
ajfa-1874	44	3	of	of	ADP
ajfa-1874	44	4	bear	bear	NOUN
ajfa-1874	44	5	and	and	CCONJ
ajfa-1874	44	6	bull	bull	NOUN
ajfa-1874	44	7	markets	market	NOUN
ajfa-1874	44	8	allows	allow	VERB
ajfa-1874	44	9	us	we	PRON
ajfa-1874	44	10	to	to	PART
ajfa-1874	44	11	investigate	investigate	VERB
ajfa-1874	44	12	in	in	ADP
ajfa-1874	44	13	greater	great	ADJ
ajfa-1874	44	14	detail	detail	NOUN
ajfa-1874	44	15	and	and	CCONJ
ajfa-1874	44	16	in	in	ADP
ajfa-1874	44	17	an	an	DET
ajfa-1874	44	18	episodic	episodic	ADJ
ajfa-1874	44	19	manner	manner	NOUN
ajfa-1874	44	20	,	,	PUNCT
ajfa-1874	44	21	the	the	DET
ajfa-1874	44	22	evolution	evolution	NOUN
ajfa-1874	44	23	of	of	ADP
ajfa-1874	44	24	stock	stock	NOUN
ajfa-1874	44	25	market	market	NOUN
ajfa-1874	44	26	instability	instability	NOUN
ajfa-1874	44	27	.	.	PUNCT
ajfa-1874	45	1	an	an	DET
ajfa-1874	45	2	attempt	attempt	NOUN
ajfa-1874	45	3	is	be	AUX
ajfa-1874	45	4	made	make	VERB
ajfa-1874	45	5	in	in	ADP
ajfa-1874	45	6	this	this	DET
ajfa-1874	45	7	paper	paper	NOUN
ajfa-1874	45	8	to	to	PART
ajfa-1874	45	9	give	give	VERB
ajfa-1874	45	10	financially	financially	ADV
ajfa-1874	45	11	viable	viable	ADJ
ajfa-1874	45	12	significance	significance	NOUN
ajfa-1874	45	13	to	to	ADP
ajfa-1874	45	14	changes	change	NOUN
ajfa-1874	45	15	in	in	ADP
ajfa-1874	45	16	the	the	DET
ajfa-1874	45	17	pattern	pattern	NOUN
ajfa-1874	45	18	of	of	ADP
ajfa-1874	45	19	stock	stock	NOUN
ajfa-1874	45	20	market	market	NOUN
ajfa-1874	45	21	volatility	volatility	NOUN
ajfa-1874	45	22	in	in	ADP
ajfa-1874	45	23	india	india	PROPN
ajfa-1874	45	24	during	during	ADP
ajfa-1874	45	25	1992-2011.thus	1992-2011.thus	NUM
ajfa-1874	45	26	it	it	PRON
ajfa-1874	45	27	will	will	AUX
ajfa-1874	45	28	be	be	AUX
ajfa-1874	45	29	interesting	interesting	ADJ
ajfa-1874	45	30	to	to	PART
ajfa-1874	45	31	examine	examine	VERB
ajfa-1874	45	32	the	the	DET
ajfa-1874	45	33	co	co	NOUN
ajfa-1874	45	34	-	-	NOUN
ajfa-1874	45	35	movement	movement	NOUN
ajfa-1874	45	36	of	of	ADP
ajfa-1874	45	37	indian	indian	ADJ
ajfa-1874	45	38	stock	stock	NOUN
ajfa-1874	45	39	markets	market	NOUN
ajfa-1874	45	40	and	and	CCONJ
ajfa-1874	45	41	fii	fii	PROPN
ajfa-1874	45	42	investment	investment	NOUN
ajfa-1874	45	43	patterns	pattern	NOUN
ajfa-1874	45	44	in	in	ADP
ajfa-1874	45	45	the	the	DET
ajfa-1874	45	46	light	light	NOUN
ajfa-1874	45	47	of	of	ADP
ajfa-1874	45	48	lifting	lift	VERB
ajfa-1874	45	49	the	the	DET
ajfa-1874	45	50	restrictions	restriction	NOUN
ajfa-1874	45	51	and	and	CCONJ
ajfa-1874	45	52	foreign	foreign	ADJ
ajfa-1874	45	53	ownership	ownership	NOUN
ajfa-1874	46	1	see	see	VERB
ajfa-1874	46	2	figure	figure	NOUN
ajfa-1874	46	3	ii	ii	PROPN
ajfa-1874	46	4	asian	asian	PROPN
ajfa-1874	46	5	journal	journal	PROPN
ajfa-1874	46	6	of	of	ADP
ajfa-1874	46	7	finance	finance	PROPN
ajfa-1874	46	8	&	&	CCONJ
ajfa-1874	46	9	accounting	accounting	PROPN
ajfa-1874	46	10	issn	issn	PROPN
ajfa-1874	46	11	1946	1946	NUM
ajfa-1874	46	12	-	-	PUNCT
ajfa-1874	46	13	052x	052x	NOUN
ajfa-1874	46	14	2012	2012	NUM
ajfa-1874	46	15	,	,	PUNCT
ajfa-1874	46	16	vol	vol	NOUN
ajfa-1874	46	17	.	.	PROPN
ajfa-1874	46	18	4	4	NUM
ajfa-1874	46	19	,	,	PUNCT
ajfa-1874	46	20	no	no	INTJ
ajfa-1874	46	21	.	.	NOUN
ajfa-1874	46	22	2	2	NUM
ajfa-1874	46	23	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	46	24	22	22	NUM
ajfa-1874	46	25	figure	figure	NOUN
ajfa-1874	46	26	2	2	NUM
ajfa-1874	46	27	.	.	PUNCT
ajfa-1874	47	1	comovements	comovement	NOUN
ajfa-1874	47	2	of	of	ADP
ajfa-1874	47	3	fii	fii	PROPN
ajfa-1874	47	4	inflows	inflow	NOUN
ajfa-1874	47	5	and	and	CCONJ
ajfa-1874	47	6	nifty	nifty	ADJ
ajfa-1874	47	7	closing	closing	NOUN
ajfa-1874	47	8	prices	price	NOUN
ajfa-1874	47	9	source	source	NOUN
ajfa-1874	47	10	:	:	PUNCT
ajfa-1874	47	11	www.nseindia.com	www.nseindia.com	X
ajfa-1874	47	12	there	there	PRON
ajfa-1874	47	13	is	be	VERB
ajfa-1874	47	14	a	a	DET
ajfa-1874	47	15	vast	vast	ADJ
ajfa-1874	47	16	literature	literature	NOUN
ajfa-1874	47	17	,	,	PUNCT
ajfa-1874	47	18	available	available	ADJ
ajfa-1874	47	19	on	on	ADP
ajfa-1874	47	20	estimating	estimate	VERB
ajfa-1874	47	21	the	the	DET
ajfa-1874	47	22	volatility	volatility	NOUN
ajfa-1874	47	23	in	in	ADP
ajfa-1874	47	24	the	the	DET
ajfa-1874	47	25	equity	equity	NOUN
ajfa-1874	47	26	markets	market	NOUN
ajfa-1874	47	27	through	through	ADP
ajfa-1874	47	28	the	the	DET
ajfa-1874	47	29	application	application	NOUN
ajfa-1874	47	30	of	of	ADP
ajfa-1874	47	31	the	the	DET
ajfa-1874	47	32	family	family	NOUN
ajfa-1874	47	33	of	of	ADP
ajfa-1874	47	34	arch	arch	ADJ
ajfa-1874	47	35	models	model	NOUN
ajfa-1874	47	36	.	.	PUNCT
ajfa-1874	48	1	in	in	ADP
ajfa-1874	48	2	the	the	DET
ajfa-1874	48	3	context	context	NOUN
ajfa-1874	48	4	of	of	ADP
ajfa-1874	48	5	the	the	DET
ajfa-1874	48	6	indian	indian	ADJ
ajfa-1874	48	7	economy	economy	NOUN
ajfa-1874	48	8	,	,	PUNCT
ajfa-1874	48	9	karmakar	karmakar	X
ajfa-1874	48	10	(	(	PUNCT
ajfa-1874	48	11	2006	2006	NUM
ajfa-1874	48	12	)	)	PUNCT
ajfa-1874	48	13	used	use	VERB
ajfa-1874	48	14	the	the	DET
ajfa-1874	48	15	application	application	NOUN
ajfa-1874	48	16	of	of	ADP
ajfa-1874	48	17	a	a	DET
ajfa-1874	48	18	tarch	tarch	NOUN
ajfa-1874	48	19	(	(	PUNCT
ajfa-1874	48	20	1	1	NUM
ajfa-1874	48	21	,	,	PUNCT
ajfa-1874	48	22	1	1	NUM
ajfa-1874	48	23	)	)	PUNCT
ajfa-1874	48	24	model	model	NOUN
ajfa-1874	48	25	and	and	CCONJ
ajfa-1874	48	26	established	establish	VERB
ajfa-1874	48	27	the	the	DET
ajfa-1874	48	28	existence	existence	NOUN
ajfa-1874	48	29	of	of	ADP
ajfa-1874	48	30	asymmetry	asymmetry	NOUN
ajfa-1874	48	31	in	in	ADP
ajfa-1874	48	32	the	the	DET
ajfa-1874	48	33	daily	daily	ADJ
ajfa-1874	48	34	returns	return	NOUN
ajfa-1874	48	35	in	in	ADP
ajfa-1874	48	36	the	the	DET
ajfa-1874	48	37	indian	indian	ADJ
ajfa-1874	48	38	stock	stock	NOUN
ajfa-1874	48	39	market	market	NOUN
ajfa-1874	48	40	.	.	PUNCT
ajfa-1874	49	1	evidence	evidence	NOUN
ajfa-1874	49	2	of	of	ADP
ajfa-1874	49	3	contemporaneous	contemporaneous	ADJ
ajfa-1874	49	4	transmission	transmission	NOUN
ajfa-1874	49	5	effects	effect	NOUN
ajfa-1874	49	6	were	be	AUX
ajfa-1874	49	7	also	also	ADV
ajfa-1874	49	8	found	find	VERB
ajfa-1874	49	9	across	across	ADP
ajfa-1874	49	10	volatilities	volatility	NOUN
ajfa-1874	49	11	of	of	ADP
ajfa-1874	49	12	the	the	DET
ajfa-1874	49	13	stocks	stock	NOUN
ajfa-1874	49	14	and	and	CCONJ
ajfa-1874	49	15	index	index	NOUN
ajfa-1874	49	16	futures	future	NOUN
ajfa-1874	49	17	market	market	NOUN
ajfa-1874	49	18	using	use	VERB
ajfa-1874	49	19	a	a	DET
ajfa-1874	49	20	tarch	tarch	NOUN
ajfa-1874	49	21	model	model	NOUN
ajfa-1874	49	22	.	.	PUNCT
ajfa-1874	50	1	in	in	ADP
ajfa-1874	50	2	a	a	DET
ajfa-1874	50	3	study	study	NOUN
ajfa-1874	50	4	done	do	VERB
ajfa-1874	50	5	by	by	ADP
ajfa-1874	50	6	chen	chen	PROPN
ajfa-1874	50	7	and	and	CCONJ
ajfa-1874	50	8	lian	lian	PROPN
ajfa-1874	50	9	(	(	PUNCT
ajfa-1874	50	10	2005	2005	NUM
ajfa-1874	50	11	)	)	PUNCT
ajfa-1874	50	12	it	it	PRON
ajfa-1874	50	13	was	be	AUX
ajfa-1874	50	14	revealed	reveal	VERB
ajfa-1874	50	15	that	that	SCONJ
ajfa-1874	50	16	there	there	PRON
ajfa-1874	50	17	was	be	VERB
ajfa-1874	50	18	existence	existence	NOUN
ajfa-1874	50	19	of	of	ADP
ajfa-1874	50	20	asymmetry	asymmetry	NOUN
ajfa-1874	50	21	in	in	ADP
ajfa-1874	50	22	the	the	DET
ajfa-1874	50	23	equity	equity	NOUN
ajfa-1874	50	24	markets	market	NOUN
ajfa-1874	50	25	of	of	ADP
ajfa-1874	50	26	five	five	NUM
ajfa-1874	50	27	asean	asean	ADJ
ajfa-1874	50	28	countries	country	NOUN
ajfa-1874	50	29	,	,	PUNCT
ajfa-1874	50	30	viz	viz	PROPN
ajfa-1874	50	31	.	.	PUNCT
ajfa-1874	51	1	malaysia	malaysia	PROPN
ajfa-1874	51	2	,	,	PUNCT
ajfa-1874	51	3	singapore	singapore	PROPN
ajfa-1874	51	4	,	,	PUNCT
ajfa-1874	51	5	thailand	thailand	PROPN
ajfa-1874	51	6	,	,	PUNCT
ajfa-1874	51	7	indonesia	indonesia	PROPN
ajfa-1874	51	8	and	and	CCONJ
ajfa-1874	51	9	the	the	DET
ajfa-1874	51	10	philippines	philippine	NOUN
ajfa-1874	51	11	,	,	PUNCT
ajfa-1874	51	12	and	and	CCONJ
ajfa-1874	51	13	found	find	VERB
ajfa-1874	51	14	that	that	SCONJ
ajfa-1874	51	15	the	the	DET
ajfa-1874	51	16	tarch	tarch	NOUN
ajfa-1874	51	17	and	and	CCONJ
ajfa-1874	51	18	egarch	egarch	NOUN
ajfa-1874	51	19	models	model	NOUN
ajfa-1874	51	20	performed	perform	VERB
ajfa-1874	51	21	better	well	ADV
ajfa-1874	51	22	in	in	ADP
ajfa-1874	51	23	forecasting	forecast	VERB
ajfa-1874	51	24	the	the	DET
ajfa-1874	51	25	equity	equity	NOUN
ajfa-1874	51	26	markets	market	NOUN
ajfa-1874	51	27	post	post	VERB
ajfa-1874	51	28	asian	asian	ADJ
ajfa-1874	51	29	financial	financial	ADJ
ajfa-1874	51	30	countries	country	NOUN
ajfa-1874	51	31	.	.	PUNCT
ajfa-1874	52	1	sollis	sollis	PROPN
ajfa-1874	52	2	(	(	PUNCT
ajfa-1874	52	3	2005	2005	NUM
ajfa-1874	52	4	)	)	PUNCT
ajfa-1874	52	5	reported	report	VERB
ajfa-1874	52	6	that	that	SCONJ
ajfa-1874	52	7	macroeconomic	macroeconomic	ADJ
ajfa-1874	52	8	variables	variable	NOUN
ajfa-1874	52	9	are	be	AUX
ajfa-1874	52	10	very	very	ADV
ajfa-1874	52	11	important	important	ADJ
ajfa-1874	52	12	carrier	carrier	NOUN
ajfa-1874	52	13	of	of	ADP
ajfa-1874	52	14	valuable	valuable	ADJ
ajfa-1874	52	15	information	information	NOUN
ajfa-1874	52	16	to	to	PART
ajfa-1874	52	17	forecast	forecast	VERB
ajfa-1874	52	18	stock	stock	NOUN
ajfa-1874	52	19	returns	return	NOUN
ajfa-1874	52	20	and	and	CCONJ
ajfa-1874	52	21	volatility	volatility	NOUN
ajfa-1874	52	22	in	in	ADP
ajfa-1874	52	23	the	the	DET
ajfa-1874	52	24	s&p	s&p	PROPN
ajfa-1874	52	25	composite	composite	ADJ
ajfa-1874	52	26	index	index	NOUN
ajfa-1874	52	27	during	during	ADP
ajfa-1874	52	28	the	the	DET
ajfa-1874	52	29	1970	1970	NUM
ajfa-1874	52	30	's	's	PART
ajfa-1874	52	31	,	,	PUNCT
ajfa-1874	52	32	but	but	CCONJ
ajfa-1874	52	33	not	not	PART
ajfa-1874	52	34	during	during	ADP
ajfa-1874	52	35	the	the	DET
ajfa-1874	52	36	1990	1990	NUM
ajfa-1874	52	37	's	's	PART
ajfa-1874	52	38	,	,	PUNCT
ajfa-1874	52	39	under	under	ADP
ajfa-1874	52	40	the	the	DET
ajfa-1874	52	41	garch	garch	NOUN
ajfa-1874	52	42	framework	framework	NOUN
ajfa-1874	52	43	.	.	PUNCT
ajfa-1874	53	1	understanding	understand	VERB
ajfa-1874	53	2	the	the	DET
ajfa-1874	53	3	influence	influence	NOUN
ajfa-1874	53	4	of	of	ADP
ajfa-1874	53	5	one	one	NUM
ajfa-1874	53	6	market	market	NOUN
ajfa-1874	53	7	on	on	ADP
ajfa-1874	53	8	the	the	DET
ajfa-1874	53	9	other	other	ADJ
ajfa-1874	53	10	and	and	CCONJ
ajfa-1874	53	11	role	role	NOUN
ajfa-1874	53	12	of	of	ADP
ajfa-1874	53	13	each	each	DET
ajfa-1874	53	14	market	market	NOUN
ajfa-1874	53	15	segment	segment	NOUN
ajfa-1874	53	16	in	in	ADP
ajfa-1874	53	17	dominant	dominant	ADJ
ajfa-1874	53	18	role	role	NOUN
ajfa-1874	53	19	is	be	AUX
ajfa-1874	53	20	the	the	DET
ajfa-1874	53	21	central	central	ADJ
ajfa-1874	53	22	question	question	NOUN
ajfa-1874	53	23	in	in	ADP
ajfa-1874	53	24	market	market	NOUN
ajfa-1874	53	25	microstructure	microstructure	NOUN
ajfa-1874	53	26	design	design	NOUN
ajfa-1874	53	27	and	and	CCONJ
ajfa-1874	53	28	it	it	PRON
ajfa-1874	53	29	is	be	AUX
ajfa-1874	53	30	very	very	ADV
ajfa-1874	53	31	important	important	ADJ
ajfa-1874	53	32	to	to	PART
ajfa-1874	53	33	academia	academia	VERB
ajfa-1874	53	34	and	and	CCONJ
ajfa-1874	53	35	regulators	regulator	NOUN
ajfa-1874	53	36	.	.	PUNCT
ajfa-1874	54	1	in	in	ADP
ajfa-1874	54	2	efficient	efficient	ADJ
ajfa-1874	54	3	markets	market	NOUN
ajfa-1874	54	4	,	,	PUNCT
ajfa-1874	54	5	new	new	ADJ
ajfa-1874	54	6	information	information	NOUN
ajfa-1874	54	7	is	be	AUX
ajfa-1874	54	8	impounded	impound	VERB
ajfa-1874	54	9	simultaneously	simultaneously	ADV
ajfa-1874	54	10	into	into	ADP
ajfa-1874	54	11	all	all	DET
ajfa-1874	54	12	markets	market	NOUN
ajfa-1874	54	13	in	in	ADP
ajfa-1874	54	14	our	our	PRON
ajfa-1874	54	15	case	case	NOUN
ajfa-1874	54	16	fii	fii	PROPN
ajfa-1874	54	17	investment	investment	NOUN
ajfa-1874	54	18	framework	framework	NOUN
ajfa-1874	54	19	and	and	CCONJ
ajfa-1874	54	20	equity	equity	NOUN
ajfa-1874	54	21	market	market	NOUN
ajfa-1874	54	22	closing	closing	NOUN
ajfa-1874	54	23	prices	price	NOUN
ajfa-1874	54	24	(	(	PUNCT
ajfa-1874	54	25	nifty	nifty	ADJ
ajfa-1874	54	26	closing).in	closing).in	PROPN
ajfa-1874	54	27	other	other	ADJ
ajfa-1874	54	28	words	word	NOUN
ajfa-1874	54	29	,	,	PUNCT
ajfa-1874	54	30	financial	financial	ADJ
ajfa-1874	54	31	market	market	NOUN
ajfa-1874	54	32	pricing	pricing	NOUN
ajfa-1874	54	33	theory	theory	NOUN
ajfa-1874	54	34	states	state	VERB
ajfa-1874	54	35	that	that	SCONJ
ajfa-1874	54	36	market	market	NOUN
ajfa-1874	54	37	efficiency	efficiency	NOUN
ajfa-1874	54	38	is	be	AUX
ajfa-1874	54	39	a	a	DET
ajfa-1874	54	40	function	function	NOUN
ajfa-1874	54	41	of	of	ADP
ajfa-1874	54	42	how	how	SCONJ
ajfa-1874	54	43	fast	fast	ADJ
ajfa-1874	54	44	and	and	CCONJ
ajfa-1874	54	45	how	how	SCONJ
ajfa-1874	54	46	much	much	ADJ
ajfa-1874	54	47	information	information	NOUN
ajfa-1874	54	48	is	be	AUX
ajfa-1874	54	49	reflected	reflect	VERB
ajfa-1874	54	50	in	in	ADP
ajfa-1874	54	51	prices	price	NOUN
ajfa-1874	54	52	.	.	PUNCT
ajfa-1874	55	1	the	the	DET
ajfa-1874	55	2	rate	rate	NOUN
ajfa-1874	55	3	at	at	ADP
ajfa-1874	55	4	which	which	PRON
ajfa-1874	55	5	prices	price	NOUN
ajfa-1874	55	6	exhibit	exhibit	VERB
ajfa-1874	55	7	market	market	NOUN
ajfa-1874	55	8	information	information	NOUN
ajfa-1874	55	9	is	be	AUX
ajfa-1874	55	10	the	the	DET
ajfa-1874	55	11	rate	rate	NOUN
ajfa-1874	55	12	at	at	ADP
ajfa-1874	55	13	which	which	PRON
ajfa-1874	55	14	this	this	DET
ajfa-1874	55	15	information	information	NOUN
ajfa-1874	55	16	is	be	AUX
ajfa-1874	55	17	disseminated	disseminate	VERB
ajfa-1874	55	18	to	to	ADP
ajfa-1874	55	19	market	market	NOUN
ajfa-1874	55	20	participants	participant	NOUN
ajfa-1874	55	21	.	.	PUNCT
ajfa-1874	56	1	in	in	ADP
ajfa-1874	56	2	reality	reality	NOUN
ajfa-1874	56	3	,	,	PUNCT
ajfa-1874	56	4	institutional	institutional	ADJ
ajfa-1874	56	5	factors	factor	NOUN
ajfa-1874	56	6	such	such	ADJ
ajfa-1874	56	7	as	as	ADP
ajfa-1874	56	8	liquidity	liquidity	NOUN
ajfa-1874	56	9	,	,	PUNCT
ajfa-1874	56	10	transaction	transaction	NOUN
ajfa-1874	56	11	costs	cost	NOUN
ajfa-1874	56	12	,	,	PUNCT
ajfa-1874	56	13	and	and	CCONJ
ajfa-1874	56	14	other	other	ADJ
ajfa-1874	56	15	market	market	NOUN
ajfa-1874	56	16	restrictions	restriction	NOUN
ajfa-1874	56	17	may	may	AUX
ajfa-1874	56	18	produce	produce	VERB
ajfa-1874	56	19	an	an	DET
ajfa-1874	56	20	empirical	empirical	ADJ
ajfa-1874	56	21	lead	lead	NOUN
ajfa-1874	56	22	-	-	PUNCT
ajfa-1874	56	23	lag	lag	NOUN
ajfa-1874	56	24	asian	asian	ADJ
ajfa-1874	56	25	journal	journal	NOUN
ajfa-1874	56	26	of	of	ADP
ajfa-1874	56	27	finance	finance	PROPN
ajfa-1874	56	28	&	&	CCONJ
ajfa-1874	56	29	accounting	accounting	PROPN
ajfa-1874	56	30	issn	issn	PROPN
ajfa-1874	56	31	1946	1946	NUM
ajfa-1874	56	32	-	-	PUNCT
ajfa-1874	56	33	052x	052x	NOUN
ajfa-1874	56	34	2012	2012	NUM
ajfa-1874	56	35	,	,	PUNCT
ajfa-1874	56	36	vol	vol	NOUN
ajfa-1874	56	37	.	.	PROPN
ajfa-1874	56	38	4	4	NUM
ajfa-1874	56	39	,	,	PUNCT
ajfa-1874	56	40	no	no	INTJ
ajfa-1874	56	41	.	.	NOUN
ajfa-1874	56	42	2	2	NUM
ajfa-1874	56	43	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	56	44	23	23	NUM
ajfa-1874	56	45	relationship	relationship	NOUN
ajfa-1874	56	46	between	between	ADP
ajfa-1874	56	47	price	price	NOUN
ajfa-1874	56	48	changes	change	NOUN
ajfa-1874	56	49	in	in	ADP
ajfa-1874	56	50	investment	investment	NOUN
ajfa-1874	56	51	scenario	scenario	NOUN
ajfa-1874	56	52	or	or	CCONJ
ajfa-1874	56	53	investment	investment	NOUN
ajfa-1874	56	54	behaviour	behaviour	NOUN
ajfa-1874	56	55	.	.	PUNCT
ajfa-1874	57	1	besides	besides	SCONJ
ajfa-1874	57	2	being	be	AUX
ajfa-1874	57	3	of	of	ADP
ajfa-1874	57	4	academic	academic	ADJ
ajfa-1874	57	5	interest	interest	NOUN
ajfa-1874	57	6	,	,	PUNCT
ajfa-1874	57	7	understanding	understand	VERB
ajfa-1874	57	8	information	information	NOUN
ajfa-1874	57	9	flow	flow	NOUN
ajfa-1874	57	10	across	across	ADP
ajfa-1874	57	11	markets	market	NOUN
ajfa-1874	57	12	is	be	AUX
ajfa-1874	57	13	also	also	ADV
ajfa-1874	57	14	important	important	ADJ
ajfa-1874	57	15	for	for	ADP
ajfa-1874	57	16	hedge	hedge	NOUN
ajfa-1874	57	17	funds	fund	NOUN
ajfa-1874	57	18	,	,	PUNCT
ajfa-1874	57	19	portfolio	portfolio	NOUN
ajfa-1874	57	20	managers	manager	NOUN
ajfa-1874	57	21	and	and	CCONJ
ajfa-1874	57	22	hedgers	hedger	NOUN
ajfa-1874	57	23	for	for	ADP
ajfa-1874	57	24	hedging	hedge	VERB
ajfa-1874	57	25	and	and	CCONJ
ajfa-1874	57	26	devising	devise	VERB
ajfa-1874	57	27	cross	cross	ADJ
ajfa-1874	57	28	-	-	ADJ
ajfa-1874	57	29	market	market	ADJ
ajfa-1874	57	30	investment	investment	NOUN
ajfa-1874	57	31	strategies	strategy	NOUN
ajfa-1874	57	32	.	.	PUNCT
ajfa-1874	58	1	volatility	volatility	NOUN
ajfa-1874	58	2	is	be	AUX
ajfa-1874	58	3	yet	yet	ADV
ajfa-1874	58	4	another	another	DET
ajfa-1874	58	5	area	area	NOUN
ajfa-1874	58	6	of	of	ADP
ajfa-1874	58	7	interest	interest	NOUN
ajfa-1874	58	8	both	both	CCONJ
ajfa-1874	58	9	for	for	ADP
ajfa-1874	58	10	regulators	regulator	NOUN
ajfa-1874	58	11	and	and	CCONJ
ajfa-1874	58	12	for	for	ADP
ajfa-1874	58	13	market	market	NOUN
ajfa-1874	58	14	participants	participant	NOUN
ajfa-1874	58	15	who	who	PRON
ajfa-1874	58	16	prefer	prefer	VERB
ajfa-1874	58	17	less	less	ADJ
ajfa-1874	58	18	volatility	volatility	NOUN
ajfa-1874	58	19	to	to	ADP
ajfa-1874	58	20	more	more	ADJ
ajfa-1874	58	21	volatility	volatility	NOUN
ajfa-1874	58	22	.	.	PUNCT
ajfa-1874	59	1	a	a	DET
ajfa-1874	59	2	meaningful	meaningful	ADJ
ajfa-1874	59	3	interpretation	interpretation	NOUN
ajfa-1874	59	4	of	of	ADP
ajfa-1874	59	5	volatility	volatility	NOUN
ajfa-1874	59	6	will	will	AUX
ajfa-1874	59	7	give	give	VERB
ajfa-1874	59	8	us	we	PRON
ajfa-1874	59	9	important	important	ADJ
ajfa-1874	59	10	information	information	NOUN
ajfa-1874	59	11	and	and	CCONJ
ajfa-1874	59	12	will	will	AUX
ajfa-1874	59	13	act	act	VERB
ajfa-1874	59	14	as	as	ADP
ajfa-1874	59	15	a	a	DET
ajfa-1874	59	16	measure	measure	NOUN
ajfa-1874	59	17	to	to	PART
ajfa-1874	59	18	know	know	VERB
ajfa-1874	59	19	as	as	ADP
ajfa-1874	59	20	to	to	ADP
ajfa-1874	59	21	how	how	SCONJ
ajfa-1874	59	22	far	far	ADV
ajfa-1874	59	23	the	the	DET
ajfa-1874	59	24	current	current	ADJ
ajfa-1874	59	25	prices	price	NOUN
ajfa-1874	59	26	of	of	ADP
ajfa-1874	59	27	an	an	DET
ajfa-1874	59	28	asset	asset	NOUN
ajfa-1874	59	29	deviate	deviate	NOUN
ajfa-1874	59	30	from	from	ADP
ajfa-1874	59	31	its	its	PRON
ajfa-1874	59	32	average	average	ADJ
ajfa-1874	59	33	past	past	ADJ
ajfa-1874	59	34	prices	price	NOUN
ajfa-1874	59	35	.	.	PUNCT
ajfa-1874	60	1	at	at	ADP
ajfa-1874	60	2	a	a	DET
ajfa-1874	60	3	fundamental	fundamental	ADJ
ajfa-1874	60	4	level	level	NOUN
ajfa-1874	60	5	,	,	PUNCT
ajfa-1874	60	6	volatility	volatility	NOUN
ajfa-1874	60	7	specifies	specify	VERB
ajfa-1874	60	8	the	the	DET
ajfa-1874	60	9	strength	strength	NOUN
ajfa-1874	60	10	or	or	CCONJ
ajfa-1874	60	11	confidence	confidence	NOUN
ajfa-1874	60	12	behind	behind	ADP
ajfa-1874	60	13	a	a	DET
ajfa-1874	60	14	price	price	NOUN
ajfa-1874	60	15	move	move	NOUN
ajfa-1874	60	16	.	.	PUNCT
ajfa-1874	61	1	instinctively	instinctively	ADV
ajfa-1874	61	2	,	,	PUNCT
ajfa-1874	61	3	we	we	PRON
ajfa-1874	61	4	can	can	AUX
ajfa-1874	61	5	argue	argue	VERB
ajfa-1874	61	6	that	that	SCONJ
ajfa-1874	61	7	the	the	DET
ajfa-1874	61	8	measurement	measurement	NOUN
ajfa-1874	61	9	issues	issue	NOUN
ajfa-1874	61	10	of	of	ADP
ajfa-1874	61	11	volatility	volatility	NOUN
ajfa-1874	61	12	can	can	AUX
ajfa-1874	61	13	also	also	ADV
ajfa-1874	61	14	be	be	AUX
ajfa-1874	61	15	useful	useful	ADJ
ajfa-1874	61	16	to	to	PART
ajfa-1874	61	17	comprehend	comprehend	VERB
ajfa-1874	61	18	the	the	DET
ajfa-1874	61	19	market	market	NOUN
ajfa-1874	61	20	assimilation	assimilation	NOUN
ajfa-1874	61	21	,	,	PUNCT
ajfa-1874	61	22	co	co	NOUN
ajfa-1874	61	23	-	-	NOUN
ajfa-1874	61	24	movement	movement	NOUN
ajfa-1874	61	25	and	and	CCONJ
ajfa-1874	61	26	spill	spill	NOUN
ajfa-1874	61	27	over	over	ADP
ajfa-1874	61	28	effect	effect	NOUN
ajfa-1874	61	29	.	.	PUNCT
ajfa-1874	62	1	the	the	DET
ajfa-1874	62	2	existence	existence	NOUN
ajfa-1874	62	3	of	of	ADP
ajfa-1874	62	4	volatility	volatility	NOUN
ajfa-1874	62	5	spillover	spillover	VERB
ajfa-1874	62	6	between	between	ADP
ajfa-1874	62	7	the	the	DET
ajfa-1874	62	8	two	two	NUM
ajfa-1874	62	9	markets	market	NOUN
ajfa-1874	62	10	specifies	specifie	NOUN
ajfa-1874	62	11	that	that	SCONJ
ajfa-1874	62	12	the	the	DET
ajfa-1874	62	13	volatility	volatility	NOUN
ajfa-1874	62	14	of	of	ADP
ajfa-1874	62	15	returns	return	NOUN
ajfa-1874	62	16	in	in	ADP
ajfa-1874	62	17	one	one	NUM
ajfa-1874	62	18	market	market	NOUN
ajfa-1874	62	19	has	have	VERB
ajfa-1874	62	20	an	an	DET
ajfa-1874	62	21	important	important	ADJ
ajfa-1874	62	22	effect	effect	NOUN
ajfa-1874	62	23	on	on	ADP
ajfa-1874	62	24	the	the	DET
ajfa-1874	62	25	volatility	volatility	NOUN
ajfa-1874	62	26	of	of	ADP
ajfa-1874	62	27	returns	return	NOUN
ajfa-1874	62	28	in	in	ADP
ajfa-1874	62	29	the	the	DET
ajfa-1874	62	30	other	other	ADJ
ajfa-1874	62	31	market	market	NOUN
ajfa-1874	62	32	.	.	PUNCT
ajfa-1874	63	1	considerable	considerable	ADJ
ajfa-1874	63	2	amount	amount	NOUN
ajfa-1874	63	3	of	of	ADP
ajfa-1874	63	4	research	research	NOUN
ajfa-1874	63	5	work	work	NOUN
ajfa-1874	63	6	has	have	AUX
ajfa-1874	63	7	been	be	AUX
ajfa-1874	63	8	conducted	conduct	VERB
ajfa-1874	63	9	in	in	ADP
ajfa-1874	63	10	the	the	DET
ajfa-1874	63	11	field	field	NOUN
ajfa-1874	63	12	of	of	ADP
ajfa-1874	63	13	volatility	volatility	NOUN
ajfa-1874	63	14	of	of	ADP
ajfa-1874	63	15	stock	stock	NOUN
ajfa-1874	63	16	market	market	NOUN
ajfa-1874	63	17	and	and	CCONJ
ajfa-1874	63	18	fii	fii	PROPN
ajfa-1874	63	19	investment	investment	NOUN
ajfa-1874	63	20	regime	regime	NOUN
ajfa-1874	63	21	and	and	CCONJ
ajfa-1874	63	22	its	its	PRON
ajfa-1874	63	23	spillover	spillover	NOUN
ajfa-1874	63	24	,	,	PUNCT
ajfa-1874	63	25	but	but	CCONJ
ajfa-1874	63	26	the	the	DET
ajfa-1874	63	27	results	result	NOUN
ajfa-1874	63	28	of	of	ADP
ajfa-1874	63	29	which	which	PRON
ajfa-1874	63	30	are	be	AUX
ajfa-1874	63	31	mixed	mixed	ADJ
ajfa-1874	63	32	.	.	PUNCT
ajfa-1874	64	1	issues	issue	NOUN
ajfa-1874	64	2	like	like	ADP
ajfa-1874	64	3	lead	lead	NOUN
ajfa-1874	64	4	-	-	PUNCT
ajfa-1874	64	5	lag	lag	NOUN
ajfa-1874	64	6	and	and	CCONJ
ajfa-1874	64	7	volatility	volatility	NOUN
ajfa-1874	64	8	spillover	spillover	NOUN
ajfa-1874	64	9	have	have	AUX
ajfa-1874	64	10	been	be	AUX
ajfa-1874	64	11	extensively	extensively	ADV
ajfa-1874	64	12	researched	research	VERB
ajfa-1874	64	13	for	for	ADP
ajfa-1874	64	14	mature	mature	ADJ
ajfa-1874	64	15	markets	market	NOUN
ajfa-1874	64	16	.emerging	.emerge	VERB
ajfa-1874	64	17	markets	market	NOUN
ajfa-1874	64	18	in	in	ADP
ajfa-1874	64	19	general	general	ADJ
ajfa-1874	64	20	and	and	CCONJ
ajfa-1874	64	21	india	india	PROPN
ajfa-1874	64	22	in	in	ADP
ajfa-1874	64	23	particular	particular	ADJ
ajfa-1874	64	24	,	,	PUNCT
ajfa-1874	64	25	the	the	DET
ajfa-1874	64	26	work	work	NOUN
ajfa-1874	64	27	is	be	AUX
ajfa-1874	64	28	very	very	ADV
ajfa-1874	64	29	limited	limited	ADJ
ajfa-1874	64	30	.	.	PUNCT
ajfa-1874	65	1	in	in	ADP
ajfa-1874	65	2	this	this	DET
ajfa-1874	65	3	backdrop	backdrop	NOUN
ajfa-1874	65	4	,	,	PUNCT
ajfa-1874	65	5	an	an	DET
ajfa-1874	65	6	attempt	attempt	NOUN
ajfa-1874	65	7	has	have	AUX
ajfa-1874	65	8	been	be	AUX
ajfa-1874	65	9	made	make	VERB
ajfa-1874	65	10	to	to	PART
ajfa-1874	65	11	revisit	revisit	VERB
ajfa-1874	65	12	the	the	DET
ajfa-1874	65	13	debate	debate	NOUN
ajfa-1874	65	14	on	on	ADP
ajfa-1874	65	15	lead	lead	NOUN
ajfa-1874	65	16	-	-	PUNCT
ajfa-1874	65	17	lag	lag	NOUN
ajfa-1874	65	18	,	,	PUNCT
ajfa-1874	65	19	causality	causality	NOUN
ajfa-1874	65	20	and	and	CCONJ
ajfa-1874	65	21	volatility	volatility	NOUN
ajfa-1874	65	22	spillover	spillover	VERB
ajfa-1874	65	23	in	in	ADP
ajfa-1874	65	24	indian	indian	ADJ
ajfa-1874	65	25	stock	stock	NOUN
ajfa-1874	65	26	market	market	NOUN
ajfa-1874	65	27	.	.	PUNCT
ajfa-1874	66	1	specifically	specifically	ADV
ajfa-1874	66	2	the	the	DET
ajfa-1874	66	3	present	present	ADJ
ajfa-1874	66	4	study	study	NOUN
ajfa-1874	66	5	covers	cover	VERB
ajfa-1874	66	6	empirical	empirical	ADJ
ajfa-1874	66	7	analysis	analysis	NOUN
ajfa-1874	66	8	both	both	PRON
ajfa-1874	66	9	for	for	ADP
ajfa-1874	66	10	fairly	fairly	ADV
ajfa-1874	66	11	long	long	ADJ
ajfa-1874	66	12	study	study	NOUN
ajfa-1874	66	13	period	period	NOUN
ajfa-1874	66	14	compared	compare	VERB
ajfa-1874	66	15	to	to	ADP
ajfa-1874	66	16	prior	prior	ADJ
ajfa-1874	66	17	research	research	NOUN
ajfa-1874	66	18	of	of	ADP
ajfa-1874	66	19	the	the	DET
ajfa-1874	66	20	subject	subject	NOUN
ajfa-1874	66	21	and	and	CCONJ
ajfa-1874	66	22	also	also	ADV
ajfa-1874	66	23	analysis	analysis	VERB
ajfa-1874	66	24	how	how	SCONJ
ajfa-1874	66	25	the	the	DET
ajfa-1874	66	26	lead	lead	NOUN
ajfa-1874	66	27	-	-	PUNCT
ajfa-1874	66	28	lag	lag	NOUN
ajfa-1874	66	29	,	,	PUNCT
ajfa-1874	66	30	causality	causality	NOUN
ajfa-1874	66	31	and	and	CCONJ
ajfa-1874	66	32	volatility	volatility	NOUN
ajfa-1874	66	33	spillover	spillover	NOUN
ajfa-1874	66	34	relationships	relationship	NOUN
ajfa-1874	66	35	are	be	AUX
ajfa-1874	66	36	in	in	ADP
ajfa-1874	66	37	indian	indian	ADJ
ajfa-1874	66	38	context	context	NOUN
ajfa-1874	66	39	.	.	PUNCT
ajfa-1874	67	1	the	the	DET
ajfa-1874	67	2	study	study	NOUN
ajfa-1874	67	3	addresses	address	VERB
ajfa-1874	67	4	the	the	DET
ajfa-1874	67	5	following	following	ADJ
ajfa-1874	67	6	question	question	NOUN
ajfa-1874	67	7	1	1	NUM
ajfa-1874	67	8	.	.	PUNCT
ajfa-1874	67	9	to	to	PART
ajfa-1874	67	10	examine	examine	VERB
ajfa-1874	67	11	if	if	SCONJ
ajfa-1874	67	12	fii	fii	PROPN
ajfa-1874	67	13	investment	investment	NOUN
ajfa-1874	67	14	are	be	AUX
ajfa-1874	67	15	useful	useful	ADJ
ajfa-1874	67	16	in	in	ADP
ajfa-1874	67	17	impacting	impact	VERB
ajfa-1874	67	18	stock	stock	NOUN
ajfa-1874	67	19	market	market	NOUN
ajfa-1874	67	20	and	and	CCONJ
ajfa-1874	67	21	vice	vice	NOUN
ajfa-1874	67	22	-	-	NOUN
ajfa-1874	67	23	versa	versa	ADJ
ajfa-1874	67	24	,	,	PUNCT
ajfa-1874	67	25	i.e.	i.e.	X
ajfa-1874	67	26	a	a	DET
ajfa-1874	67	27	lead	lead	NOUN
ajfa-1874	67	28	lag	lag	NOUN
ajfa-1874	67	29	relationship	relationship	NOUN
ajfa-1874	67	30	?	?	PUNCT
ajfa-1874	68	1	2	2	X
ajfa-1874	68	2	.	.	X
ajfa-1874	68	3	is	be	AUX
ajfa-1874	68	4	there	there	PRON
ajfa-1874	68	5	a	a	DET
ajfa-1874	68	6	volatility	volatility	NOUN
ajfa-1874	68	7	spill	spill	NOUN
ajfa-1874	68	8	over	over	ADP
ajfa-1874	68	9	from	from	ADP
ajfa-1874	68	10	fii	fii	PROPN
ajfa-1874	68	11	investment	investment	NOUN
ajfa-1874	68	12	patterns	pattern	NOUN
ajfa-1874	68	13	to	to	ADP
ajfa-1874	68	14	nifty	nifty	ADJ
ajfa-1874	68	15	closing	closing	NOUN
ajfa-1874	68	16	prices	price	NOUN
ajfa-1874	68	17	and	and	CCONJ
ajfa-1874	68	18	vice	vice	NOUN
ajfa-1874	68	19	-	-	NOUN
ajfa-1874	68	20	versa	versa	ADJ
ajfa-1874	68	21	?	?	PUNCT
ajfa-1874	69	1	the	the	DET
ajfa-1874	69	2	remainder	remainder	NOUN
ajfa-1874	69	3	of	of	ADP
ajfa-1874	69	4	the	the	DET
ajfa-1874	69	5	paper	paper	NOUN
ajfa-1874	69	6	proceeds	proceed	NOUN
ajfa-1874	69	7	as	as	SCONJ
ajfa-1874	69	8	follows	follow	VERB
ajfa-1874	69	9	.	.	PUNCT
ajfa-1874	70	1	section	section	NOUN
ajfa-1874	70	2	one	one	NOUN
ajfa-1874	70	3	describes	describe	VERB
ajfa-1874	70	4	the	the	DET
ajfa-1874	70	5	theoretical	theoretical	ADJ
ajfa-1874	70	6	aspect	aspect	NOUN
ajfa-1874	70	7	of	of	ADP
ajfa-1874	70	8	indian	indian	ADJ
ajfa-1874	70	9	stock	stock	NOUN
ajfa-1874	70	10	market	market	NOUN
ajfa-1874	70	11	its	its	PRON
ajfa-1874	70	12	importance	importance	NOUN
ajfa-1874	70	13	,	,	PUNCT
ajfa-1874	70	14	relevance	relevance	NOUN
ajfa-1874	70	15	,	,	PUNCT
ajfa-1874	70	16	rationale	rationale	NOUN
ajfa-1874	70	17	followed	follow	VERB
ajfa-1874	70	18	by	by	ADP
ajfa-1874	70	19	a	a	DET
ajfa-1874	70	20	section	section	NOUN
ajfa-1874	70	21	(	(	PUNCT
ajfa-1874	70	22	ii	ii	NOUN
ajfa-1874	70	23	)	)	PUNCT
ajfa-1874	70	24	that	that	PRON
ajfa-1874	70	25	deals	deal	VERB
ajfa-1874	70	26	with	with	ADP
ajfa-1874	70	27	reviews	review	NOUN
ajfa-1874	70	28	of	of	ADP
ajfa-1874	70	29	the	the	DET
ajfa-1874	70	30	relevant	relevant	ADJ
ajfa-1874	70	31	research	research	NOUN
ajfa-1874	70	32	studies	study	NOUN
ajfa-1874	70	33	connected	connect	VERB
ajfa-1874	70	34	with	with	ADP
ajfa-1874	70	35	the	the	DET
ajfa-1874	70	36	objectives	objective	NOUN
ajfa-1874	70	37	.	.	PUNCT
ajfa-1874	71	1	section	section	NOUN
ajfa-1874	71	2	three	three	NUM
ajfa-1874	71	3	entails	entail	VERB
ajfa-1874	71	4	data	datum	NOUN
ajfa-1874	71	5	and	and	CCONJ
ajfa-1874	71	6	methodology	methodology	NOUN
ajfa-1874	71	7	describing	describe	VERB
ajfa-1874	71	8	the	the	DET
ajfa-1874	71	9	nature	nature	NOUN
ajfa-1874	71	10	and	and	CCONJ
ajfa-1874	71	11	sources	source	NOUN
ajfa-1874	71	12	from	from	ADP
ajfa-1874	71	13	which	which	PRON
ajfa-1874	71	14	relevant	relevant	ADJ
ajfa-1874	71	15	data	data	NOUN
ajfa-1874	71	16	has	have	AUX
ajfa-1874	71	17	been	be	AUX
ajfa-1874	71	18	collected	collect	VERB
ajfa-1874	71	19	and	and	CCONJ
ajfa-1874	71	20	the	the	DET
ajfa-1874	71	21	various	various	ADJ
ajfa-1874	71	22	statistical	statistical	ADJ
ajfa-1874	71	23	tools	tool	NOUN
ajfa-1874	71	24	and	and	CCONJ
ajfa-1874	71	25	techniques	technique	NOUN
ajfa-1874	71	26	employed	employ	VERB
ajfa-1874	71	27	in	in	ADP
ajfa-1874	71	28	the	the	DET
ajfa-1874	71	29	study	study	NOUN
ajfa-1874	71	30	.section	.section	NOUN
ajfa-1874	71	31	iv	iv	NUM
ajfa-1874	71	32	exhibits	exhibit	VERB
ajfa-1874	71	33	analysis	analysis	NOUN
ajfa-1874	71	34	and	and	CCONJ
ajfa-1874	71	35	interpretation	interpretation	NOUN
ajfa-1874	71	36	of	of	ADP
ajfa-1874	71	37	the	the	DET
ajfa-1874	71	38	data	datum	NOUN
ajfa-1874	71	39	through	through	ADP
ajfa-1874	71	40	a	a	DET
ajfa-1874	71	41	variety	variety	NOUN
ajfa-1874	71	42	of	of	ADP
ajfa-1874	71	43	tables	table	NOUN
ajfa-1874	71	44	into	into	ADP
ajfa-1874	71	45	which	which	PRON
ajfa-1874	71	46	relevant	relevant	ADJ
ajfa-1874	71	47	details	detail	NOUN
ajfa-1874	71	48	have	have	AUX
ajfa-1874	71	49	been	be	AUX
ajfa-1874	71	50	compressed	compress	VERB
ajfa-1874	71	51	and	and	CCONJ
ajfa-1874	71	52	summarized	summarize	VERB
ajfa-1874	71	53	under	under	ADP
ajfa-1874	71	54	appropriate	appropriate	ADJ
ajfa-1874	71	55	heads	head	NOUN
ajfa-1874	71	56	and	and	CCONJ
ajfa-1874	71	57	presented	present	VERB
ajfa-1874	71	58	in	in	ADP
ajfa-1874	71	59	the	the	DET
ajfa-1874	71	60	tables	table	NOUN
ajfa-1874	71	61	.	.	PUNCT
ajfa-1874	72	1	section	section	NOUN
ajfa-1874	72	2	iv	iv	NUM
ajfa-1874	72	3	briefs	brief	NOUN
ajfa-1874	72	4	the	the	DET
ajfa-1874	72	5	summary	summary	NOUN
ajfa-1874	72	6	and	and	CCONJ
ajfa-1874	72	7	conclusion	conclusion	NOUN
ajfa-1874	72	8	of	of	ADP
ajfa-1874	72	9	the	the	DET
ajfa-1874	72	10	main	main	ADJ
ajfa-1874	72	11	findings	finding	NOUN
ajfa-1874	72	12	along	along	ADV
ajfa-1874	72	13	with	with	ADP
ajfa-1874	72	14	the	the	DET
ajfa-1874	72	15	policy	policy	NOUN
ajfa-1874	72	16	implications	implication	NOUN
ajfa-1874	72	17	that	that	PRON
ajfa-1874	72	18	emerged	emerge	VERB
ajfa-1874	72	19	from	from	ADP
ajfa-1874	72	20	the	the	DET
ajfa-1874	72	21	findings	finding	NOUN
ajfa-1874	72	22	of	of	ADP
ajfa-1874	72	23	the	the	DET
ajfa-1874	72	24	study	study	NOUN
ajfa-1874	72	25	,	,	PUNCT
ajfa-1874	72	26	along	along	ADP
ajfa-1874	72	27	with	with	ADP
ajfa-1874	72	28	limitations	limitation	NOUN
ajfa-1874	72	29	of	of	ADP
ajfa-1874	72	30	the	the	DET
ajfa-1874	72	31	study	study	NOUN
ajfa-1874	72	32	and	and	CCONJ
ajfa-1874	72	33	directions	direction	NOUN
ajfa-1874	72	34	for	for	ADP
ajfa-1874	72	35	future	future	ADJ
ajfa-1874	72	36	research	research	NOUN
ajfa-1874	72	37	.	.	PUNCT
ajfa-1874	73	1	section	section	NOUN
ajfa-1874	73	2	v	v	PROPN
ajfa-1874	73	3	will	will	AUX
ajfa-1874	73	4	list	list	VERB
ajfa-1874	73	5	the	the	DET
ajfa-1874	73	6	references	reference	NOUN
ajfa-1874	73	7	cited	cite	VERB
ajfa-1874	73	8	while	while	SCONJ
ajfa-1874	73	9	undertaking	undertake	VERB
ajfa-1874	73	10	the	the	DET
ajfa-1874	73	11	research	research	NOUN
ajfa-1874	73	12	.	.	PUNCT
ajfa-1874	74	1	2	2	X
ajfa-1874	74	2	.	.	X
ajfa-1874	74	3	review	review	NOUN
ajfa-1874	74	4	of	of	ADP
ajfa-1874	74	5	literature	literature	NOUN
ajfa-1874	74	6	there	there	PRON
ajfa-1874	74	7	are	be	VERB
ajfa-1874	74	8	numerous	numerous	ADJ
ajfa-1874	74	9	studies	study	NOUN
ajfa-1874	74	10	that	that	PRON
ajfa-1874	74	11	have	have	AUX
ajfa-1874	74	12	been	be	AUX
ajfa-1874	74	13	explored	explore	VERB
ajfa-1874	74	14	so	so	ADV
ajfa-1874	74	15	far	far	ADV
ajfa-1874	74	16	in	in	ADP
ajfa-1874	74	17	the	the	DET
ajfa-1874	74	18	ascertainment	ascertainment	NOUN
ajfa-1874	74	19	of	of	ADP
ajfa-1874	74	20	whether	whether	SCONJ
ajfa-1874	74	21	the	the	DET
ajfa-1874	74	22	fii	fii	PROPN
ajfa-1874	74	23	investment	investment	NOUN
ajfa-1874	74	24	behaviour	behaviour	NOUN
ajfa-1874	74	25	is	be	AUX
ajfa-1874	74	26	reflected	reflect	VERB
ajfa-1874	74	27	in	in	ADP
ajfa-1874	74	28	the	the	DET
ajfa-1874	74	29	stock	stock	NOUN
ajfa-1874	74	30	market	market	NOUN
ajfa-1874	74	31	(	(	PUNCT
ajfa-1874	74	32	closing	closing	NOUN
ajfa-1874	74	33	prices	price	NOUN
ajfa-1874	74	34	)	)	PUNCT
ajfa-1874	74	35	,	,	PUNCT
ajfa-1874	74	36	at	at	ADP
ajfa-1874	74	37	various	various	ADJ
ajfa-1874	74	38	interval	interval	NOUN
ajfa-1874	74	39	of	of	ADP
ajfa-1874	74	40	time	time	NOUN
ajfa-1874	74	41	.	.	PUNCT
ajfa-1874	75	1	many	many	ADJ
ajfa-1874	75	2	studies	study	NOUN
ajfa-1874	75	3	done	do	VERB
ajfa-1874	75	4	across	across	ADP
ajfa-1874	75	5	the	the	DET
ajfa-1874	75	6	globe	globe	NOUN
ajfa-1874	75	7	are	be	AUX
ajfa-1874	75	8	done	do	VERB
ajfa-1874	75	9	mainly	mainly	ADV
ajfa-1874	75	10	in	in	ADP
ajfa-1874	75	11	context	context	NOUN
ajfa-1874	75	12	of	of	ADP
ajfa-1874	75	13	asian	asian	ADJ
ajfa-1874	75	14	journal	journal	NOUN
ajfa-1874	75	15	of	of	ADP
ajfa-1874	75	16	finance	finance	PROPN
ajfa-1874	75	17	&	&	CCONJ
ajfa-1874	75	18	accounting	accounting	PROPN
ajfa-1874	75	19	issn	issn	PROPN
ajfa-1874	75	20	1946	1946	NUM
ajfa-1874	75	21	-	-	PUNCT
ajfa-1874	75	22	052x	052x	NOUN
ajfa-1874	75	23	2012	2012	NUM
ajfa-1874	75	24	,	,	PUNCT
ajfa-1874	75	25	vol	vol	NOUN
ajfa-1874	75	26	.	.	PROPN
ajfa-1874	75	27	4	4	NUM
ajfa-1874	75	28	,	,	PUNCT
ajfa-1874	75	29	no	no	INTJ
ajfa-1874	75	30	.	.	NOUN
ajfa-1874	75	31	2	2	NUM
ajfa-1874	75	32	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	75	33	24	24	NUM
ajfa-1874	75	34	transmission	transmission	NOUN
ajfa-1874	75	35	of	of	ADP
ajfa-1874	75	36	volatility	volatility	NOUN
ajfa-1874	75	37	across	across	ADP
ajfa-1874	75	38	economies	economy	NOUN
ajfa-1874	75	39	and	and	CCONJ
ajfa-1874	75	40	the	the	DET
ajfa-1874	75	41	contagion	contagion	NOUN
ajfa-1874	75	42	effects	effect	NOUN
ajfa-1874	75	43	of	of	ADP
ajfa-1874	75	44	a	a	DET
ajfa-1874	75	45	financial	financial	ADJ
ajfa-1874	75	46	crisis	crisis	NOUN
ajfa-1874	75	47	which	which	PRON
ajfa-1874	75	48	include	include	VERB
ajfa-1874	75	49	the	the	DET
ajfa-1874	75	50	work	work	NOUN
ajfa-1874	75	51	done	do	VERB
ajfa-1874	75	52	by	by	ADP
ajfa-1874	75	53	forbes	forbe	NOUN
ajfa-1874	75	54	and	and	CCONJ
ajfa-1874	75	55	rigobon	rigobon	PROPN
ajfa-1874	75	56	(	(	PUNCT
ajfa-1874	75	57	2002	2002	NUM
ajfa-1874	75	58	)	)	PUNCT
ajfa-1874	75	59	,	,	PUNCT
ajfa-1874	75	60	bekaert	bekaert	NOUN
ajfa-1874	75	61	,	,	PUNCT
ajfa-1874	75	62	harvey	harvey	NOUN
ajfa-1874	75	63	and	and	CCONJ
ajfa-1874	75	64	lumsdaine	lumsdaine	PROPN
ajfa-1874	75	65	(	(	PUNCT
ajfa-1874	75	66	2002a	2002a	NUM
ajfa-1874	75	67	,	,	PUNCT
ajfa-1874	75	68	b	b	NOUN
ajfa-1874	75	69	)	)	PUNCT
ajfa-1874	75	70	,	,	PUNCT
ajfa-1874	75	71	edwards	edwards	PROPN
ajfa-1874	75	72	(	(	PUNCT
ajfa-1874	75	73	2000	2000	NUM
ajfa-1874	75	74	)	)	PUNCT
ajfa-1874	75	75	and	and	CCONJ
ajfa-1874	75	76	others	other	NOUN
ajfa-1874	75	77	.	.	PUNCT
ajfa-1874	76	1	rogobon	rogobon	NOUN
ajfa-1874	76	2	(	(	PUNCT
ajfa-1874	76	3	2003	2003	NUM
ajfa-1874	76	4	)	)	PUNCT
ajfa-1874	76	5	focus	focus	VERB
ajfa-1874	76	6	his	his	PRON
ajfa-1874	76	7	study	study	NOUN
ajfa-1874	76	8	on	on	ADP
ajfa-1874	76	9	alternative	alternative	ADJ
ajfa-1874	76	10	measures	measure	NOUN
ajfa-1874	76	11	of	of	ADP
ajfa-1874	76	12	volatility	volatility	NOUN
ajfa-1874	76	13	in	in	ADP
ajfa-1874	76	14	the	the	DET
ajfa-1874	76	15	equity	equity	NOUN
ajfa-1874	76	16	and	and	CCONJ
ajfa-1874	76	17	bond	bond	NOUN
ajfa-1874	76	18	markets	market	NOUN
ajfa-1874	76	19	in	in	ADP
ajfa-1874	76	20	the	the	DET
ajfa-1874	76	21	period	period	NOUN
ajfa-1874	76	22	adjacent	adjacent	ADP
ajfa-1874	76	23	the	the	DET
ajfa-1874	76	24	financial	financial	ADJ
ajfa-1874	76	25	crises	crisis	NOUN
ajfa-1874	76	26	.	.	PUNCT
ajfa-1874	77	1	bekaert	bekaert	NOUN
ajfa-1874	77	2	and	and	CCONJ
ajfa-1874	77	3	harvey	harvey	PROPN
ajfa-1874	77	4	(	(	PUNCT
ajfa-1874	77	5	2000	2000	NUM
ajfa-1874	77	6	)	)	PUNCT
ajfa-1874	77	7	analyse	analyse	NOUN
ajfa-1874	77	8	equity	equity	NOUN
ajfa-1874	77	9	returns	return	NOUN
ajfa-1874	77	10	in	in	ADP
ajfa-1874	77	11	a	a	DET
ajfa-1874	77	12	group	group	NOUN
ajfa-1874	77	13	of	of	ADP
ajfa-1874	77	14	emerging	emerge	VERB
ajfa-1874	77	15	economies	economy	NOUN
ajfa-1874	77	16	before	before	ADP
ajfa-1874	77	17	and	and	CCONJ
ajfa-1874	77	18	after	after	ADP
ajfa-1874	77	19	financial	financial	ADJ
ajfa-1874	77	20	reforms	reform	NOUN
ajfa-1874	77	21	in	in	ADP
ajfa-1874	77	22	a	a	DET
ajfa-1874	77	23	group	group	NOUN
ajfa-1874	77	24	of	of	ADP
ajfa-1874	77	25	emerging	emerge	VERB
ajfa-1874	77	26	markets	market	NOUN
ajfa-1874	77	27	and	and	CCONJ
ajfa-1874	77	28	find	find	VERB
ajfa-1874	77	29	mixed	mixed	ADJ
ajfa-1874	77	30	results	result	NOUN
ajfa-1874	77	31	.	.	PUNCT
ajfa-1874	78	1	during	during	ADP
ajfa-1874	78	2	1985	1985	NUM
ajfa-1874	78	3	-	-	SYM
ajfa-1874	78	4	95	95	NUM
ajfa-1874	78	5	in	in	ADP
ajfa-1874	78	6	a	a	DET
ajfa-1874	78	7	study	study	NOUN
ajfa-1874	78	8	done	do	VERB
ajfa-1874	78	9	by	by	ADP
ajfa-1874	78	10	aggarwal	aggarwal	NOUN
ajfa-1874	78	11	,	,	PUNCT
ajfa-1874	78	12	inclan	inclan	NOUN
ajfa-1874	78	13	and	and	CCONJ
ajfa-1874	78	14	leal	leal	ADJ
ajfa-1874	78	15	(	(	PUNCT
ajfa-1874	78	16	1999	1999	NUM
ajfa-1874	78	17	)	)	PUNCT
ajfa-1874	78	18	analyze	analyze	VERB
ajfa-1874	78	19	volatility	volatility	NOUN
ajfa-1874	78	20	in	in	ADP
ajfa-1874	78	21	emerging	emerge	VERB
ajfa-1874	78	22	stock	stock	NOUN
ajfa-1874	78	23	markets	market	NOUN
ajfa-1874	78	24	.	.	PUNCT
ajfa-1874	79	1	icss	icss	PROPN
ajfa-1874	79	2	algorithm	algorithm	PROPN
ajfa-1874	79	3	was	be	AUX
ajfa-1874	79	4	used	use	VERB
ajfa-1874	79	5	to	to	PART
ajfa-1874	79	6	identify	identify	VERB
ajfa-1874	79	7	the	the	DET
ajfa-1874	79	8	points	point	NOUN
ajfa-1874	79	9	of	of	ADP
ajfa-1874	79	10	abrupt	abrupt	ADJ
ajfa-1874	79	11	changes	change	NOUN
ajfa-1874	79	12	in	in	ADP
ajfa-1874	79	13	the	the	DET
ajfa-1874	79	14	variance	variance	NOUN
ajfa-1874	79	15	of	of	ADP
ajfa-1874	79	16	returns	return	NOUN
ajfa-1874	79	17	they	they	PRON
ajfa-1874	79	18	examine	examine	VERB
ajfa-1874	79	19	the	the	DET
ajfa-1874	79	20	nature	nature	NOUN
ajfa-1874	79	21	of	of	ADP
ajfa-1874	79	22	events	event	NOUN
ajfa-1874	79	23	that	that	PRON
ajfa-1874	79	24	cause	cause	VERB
ajfa-1874	79	25	large	large	ADJ
ajfa-1874	79	26	shifts	shift	NOUN
ajfa-1874	79	27	in	in	ADP
ajfa-1874	79	28	stock	stock	NOUN
ajfa-1874	79	29	return	return	NOUN
ajfa-1874	79	30	volatility	volatility	NOUN
ajfa-1874	79	31	in	in	ADP
ajfa-1874	79	32	these	these	DET
ajfa-1874	79	33	economies	economy	NOUN
ajfa-1874	79	34	.	.	PUNCT
ajfa-1874	80	1	local	local	ADJ
ajfa-1874	80	2	events	event	NOUN
ajfa-1874	80	3	jumps	jump	NOUN
ajfa-1874	80	4	were	be	AUX
ajfa-1874	80	5	held	hold	VERB
ajfa-1874	80	6	responsible	responsible	ADJ
ajfa-1874	80	7	for	for	ADP
ajfa-1874	80	8	stock	stock	NOUN
ajfa-1874	80	9	market	market	NOUN
ajfa-1874	80	10	volatility	volatility	NOUN
ajfa-1874	80	11	of	of	ADP
ajfa-1874	80	12	the	the	DET
ajfa-1874	80	13	emerging	emerge	VERB
ajfa-1874	80	14	markets	market	NOUN
ajfa-1874	80	15	by	by	ADP
ajfa-1874	80	16	a	a	DET
ajfa-1874	80	17	study	study	NOUN
ajfa-1874	80	18	done	do	VERB
ajfa-1874	80	19	by	by	ADP
ajfa-1874	80	20	aggarwal	aggarwal	PROPN
ajfa-1874	80	21	et	et	PROPN
ajfa-1874	80	22	al	al	PROPN
ajfa-1874	80	23	.	.	PUNCT
ajfa-1874	81	1	they	they	PRON
ajfa-1874	81	2	find	find	VERB
ajfa-1874	81	3	no	no	DET
ajfa-1874	81	4	systematic	systematic	ADJ
ajfa-1874	81	5	effect	effect	NOUN
ajfa-1874	81	6	of	of	ADP
ajfa-1874	81	7	liberalisation	liberalisation	NOUN
ajfa-1874	81	8	after	after	ADP
ajfa-1874	81	9	studying	study	VERB
ajfa-1874	81	10	the	the	DET
ajfa-1874	81	11	behaviour	behaviour	NOUN
ajfa-1874	81	12	of	of	ADP
ajfa-1874	81	13	stock	stock	NOUN
ajfa-1874	81	14	prices	price	NOUN
ajfa-1874	81	15	after	after	SCONJ
ajfa-1874	81	16	the	the	DET
ajfa-1874	81	17	economy	economy	NOUN
ajfa-1874	81	18	was	be	AUX
ajfa-1874	81	19	opened	open	VERB
ajfa-1874	81	20	to	to	ADP
ajfa-1874	81	21	foreigners	foreigner	NOUN
ajfa-1874	81	22	or	or	CCONJ
ajfa-1874	81	23	large	large	ADJ
ajfa-1874	81	24	foreign	foreign	ADJ
ajfa-1874	81	25	inflows	inflow	NOUN
ajfa-1874	81	26	kim	kim	PROPN
ajfa-1874	81	27	and	and	CCONJ
ajfa-1874	81	28	singal	singal	PROPN
ajfa-1874	81	29	(	(	PUNCT
ajfa-1874	81	30	1997	1997	NUM
ajfa-1874	81	31	)	)	PUNCT
ajfa-1874	81	32	&	&	CCONJ
ajfa-1874	81	33	de	de	PROPN
ajfa-1874	81	34	santis	santis	PROPN
ajfa-1874	81	35	and	and	CCONJ
ajfa-1874	81	36	imorohoroglu	imorohoroglu	PROPN
ajfa-1874	81	37	(	(	PUNCT
ajfa-1874	81	38	1994	1994	NUM
ajfa-1874	81	39	)	)	PUNCT
ajfa-1874	81	40	.	.	PUNCT
ajfa-1874	82	1	the	the	DET
ajfa-1874	82	2	results	result	NOUN
ajfa-1874	82	3	of	of	ADP
ajfa-1874	82	4	this	this	DET
ajfa-1874	82	5	study	study	NOUN
ajfa-1874	82	6	corroborate	corroborate	VERB
ajfa-1874	82	7	bekaert	bekaert	NOUN
ajfa-1874	82	8	’s	’s	PART
ajfa-1874	82	9	findings	finding	NOUN
ajfa-1874	82	10	that	that	SCONJ
ajfa-1874	82	11	volatility	volatility	NOUN
ajfa-1874	82	12	in	in	ADP
ajfa-1874	82	13	emerging	emerge	VERB
ajfa-1874	82	14	markets	market	NOUN
ajfa-1874	82	15	is	be	AUX
ajfa-1874	82	16	unrelated	unrelated	ADJ
ajfa-1874	82	17	to	to	ADP
ajfa-1874	82	18	his	his	PRON
ajfa-1874	82	19	measure	measure	NOUN
ajfa-1874	82	20	of	of	ADP
ajfa-1874	82	21	market	market	NOUN
ajfa-1874	82	22	integration	integration	NOUN
ajfa-1874	82	23	.	.	PUNCT
ajfa-1874	83	1	richards	richard	NOUN
ajfa-1874	83	2	(	(	PUNCT
ajfa-1874	83	3	1996	1996	NUM
ajfa-1874	83	4	)	)	PUNCT
ajfa-1874	83	5	use	use	VERB
ajfa-1874	83	6	two	two	NUM
ajfa-1874	83	7	sets	set	NOUN
ajfa-1874	83	8	of	of	ADP
ajfa-1874	83	9	data	datum	NOUN
ajfa-1874	83	10	and	and	CCONJ
ajfa-1874	83	11	three	three	NUM
ajfa-1874	83	12	types	type	NOUN
ajfa-1874	83	13	of	of	ADP
ajfa-1874	83	14	methodologies	methodology	NOUN
ajfa-1874	83	15	to	to	PART
ajfa-1874	83	16	estimate	estimate	VERB
ajfa-1874	83	17	volatility	volatility	NOUN
ajfa-1874	83	18	of	of	ADP
ajfa-1874	83	19	emerging	emerge	VERB
ajfa-1874	83	20	markets	market	NOUN
ajfa-1874	83	21	and	and	CCONJ
ajfa-1874	83	22	find	find	VERB
ajfa-1874	83	23	no	no	DET
ajfa-1874	83	24	increase	increase	NOUN
ajfa-1874	83	25	in	in	ADP
ajfa-1874	83	26	volatility	volatility	NOUN
ajfa-1874	83	27	following	follow	VERB
ajfa-1874	83	28	the	the	DET
ajfa-1874	83	29	process	process	NOUN
ajfa-1874	83	30	of	of	ADP
ajfa-1874	83	31	liberalisation	liberalisation	NOUN
ajfa-1874	83	32	.	.	PUNCT
ajfa-1874	84	1	levine	levine	PROPN
ajfa-1874	84	2	and	and	CCONJ
ajfa-1874	84	3	zervos	zervos	PROPN
ajfa-1874	84	4	(	(	PUNCT
ajfa-1874	84	5	1995	1995	NUM
ajfa-1874	84	6	)	)	PUNCT
ajfa-1874	84	7	find	find	VERB
ajfa-1874	84	8	results	result	NOUN
ajfa-1874	84	9	contrary	contrary	ADJ
ajfa-1874	84	10	to	to	ADP
ajfa-1874	84	11	richards	richard	NOUN
ajfa-1874	84	12	(	(	PUNCT
ajfa-1874	84	13	1996	1996	NUM
ajfa-1874	84	14	)	)	PUNCT
ajfa-1874	84	15	that	that	SCONJ
ajfa-1874	84	16	there	there	PRON
ajfa-1874	84	17	may	may	AUX
ajfa-1874	84	18	increase	increase	VERB
ajfa-1874	84	19	volatility	volatility	NOUN
ajfa-1874	84	20	after	after	ADP
ajfa-1874	84	21	liberalisation	liberalisation	NOUN
ajfa-1874	84	22	.	.	PUNCT
ajfa-1874	85	1	no	no	DET
ajfa-1874	85	2	systematic	systematic	ADJ
ajfa-1874	85	3	evidence	evidence	NOUN
ajfa-1874	85	4	that	that	SCONJ
ajfa-1874	85	5	foreign	foreign	ADJ
ajfa-1874	85	6	trading	trading	NOUN
ajfa-1874	85	7	tends	tend	VERB
ajfa-1874	85	8	to	to	PART
ajfa-1874	85	9	increase	increase	VERB
ajfa-1874	85	10	market	market	NOUN
ajfa-1874	85	11	volatility	volatility	NOUN
ajfa-1874	85	12	more	more	ADJ
ajfa-1874	85	13	than	than	SCONJ
ajfa-1874	85	14	trading	trade	VERB
ajfa-1874	85	15	by	by	ADP
ajfa-1874	85	16	domestic	domestic	ADJ
ajfa-1874	85	17	groups	group	NOUN
ajfa-1874	85	18	was	be	AUX
ajfa-1874	85	19	revealed	reveal	VERB
ajfa-1874	85	20	by	by	ADP
ajfa-1874	85	21	hamao	hamao	PROPN
ajfa-1874	85	22	and	and	CCONJ
ajfa-1874	85	23	mei	mei	PROPN
ajfa-1874	85	24	(	(	PUNCT
ajfa-1874	85	25	2001	2001	NUM
ajfa-1874	85	26	)	)	PUNCT
ajfa-1874	85	27	who	who	PRON
ajfa-1874	85	28	examined	examine	VERB
ajfa-1874	85	29	the	the	DET
ajfa-1874	85	30	impact	impact	NOUN
ajfa-1874	85	31	of	of	ADP
ajfa-1874	85	32	foreign	foreign	ADJ
ajfa-1874	85	33	and	and	CCONJ
ajfa-1874	85	34	domestic	domestic	ADJ
ajfa-1874	85	35	trading	trading	NOUN
ajfa-1874	85	36	on	on	ADP
ajfa-1874	85	37	market	market	NOUN
ajfa-1874	85	38	volatility	volatility	NOUN
ajfa-1874	85	39	for	for	ADP
ajfa-1874	85	40	japan	japan	PROPN
ajfa-1874	85	41	.	.	PUNCT
ajfa-1874	86	1	the	the	DET
ajfa-1874	86	2	period	period	NOUN
ajfa-1874	86	3	of	of	ADP
ajfa-1874	86	4	time	time	NOUN
ajfa-1874	86	5	study	study	NOUN
ajfa-1874	86	6	mainly	mainly	ADV
ajfa-1874	86	7	relates	relate	VERB
ajfa-1874	86	8	to	to	ADP
ajfa-1874	86	9	the	the	DET
ajfa-1874	86	10	time	time	NOUN
ajfa-1874	86	11	period	period	NOUN
ajfa-1874	86	12	during	during	ADP
ajfa-1874	86	13	which	which	PRON
ajfa-1874	86	14	the	the	DET
ajfa-1874	86	15	foreign	foreign	ADJ
ajfa-1874	86	16	portfolio	portfolio	NOUN
ajfa-1874	86	17	investment	investment	NOUN
ajfa-1874	86	18	in	in	ADP
ajfa-1874	86	19	japan	japan	PROPN
ajfa-1874	86	20	was	be	AUX
ajfa-1874	86	21	rather	rather	ADV
ajfa-1874	86	22	small	small	ADJ
ajfa-1874	86	23	.	.	PUNCT
ajfa-1874	87	1	the	the	DET
ajfa-1874	87	2	study	study	NOUN
ajfa-1874	87	3	done	do	VERB
ajfa-1874	87	4	by	by	ADP
ajfa-1874	87	5	folkerts	folkert	NOUN
ajfa-1874	87	6	–	–	PUNCT
ajfa-1874	87	7	landau	landau	NOUN
ajfa-1874	87	8	and	and	CCONJ
ajfa-1874	87	9	ito	ito	PROPN
ajfa-1874	87	10	(	(	PUNCT
ajfa-1874	87	11	1995	1995	NUM
ajfa-1874	87	12	)	)	PUNCT
ajfa-1874	87	13	on	on	ADP
ajfa-1874	87	14	volatility	volatility	NOUN
ajfa-1874	87	15	of	of	ADP
ajfa-1874	87	16	emerging	emerge	VERB
ajfa-1874	87	17	markets	market	NOUN
ajfa-1874	87	18	in	in	ADP
ajfa-1874	87	19	periods	period	NOUN
ajfa-1874	87	20	that	that	PRON
ajfa-1874	87	21	differ	differ	VERB
ajfa-1874	87	22	in	in	ADP
ajfa-1874	87	23	their	their	PRON
ajfa-1874	87	24	intensity	intensity	NOUN
ajfa-1874	87	25	of	of	ADP
ajfa-1874	87	26	portfolio	portfolio	NOUN
ajfa-1874	87	27	flows	flow	NOUN
ajfa-1874	87	28	generated	generate	VERB
ajfa-1874	87	29	mixed	mixed	ADJ
ajfa-1874	87	30	results	result	NOUN
ajfa-1874	87	31	with	with	ADP
ajfa-1874	87	32	mexican	mexican	ADJ
ajfa-1874	87	33	stock	stock	NOUN
ajfa-1874	87	34	prices	price	NOUN
ajfa-1874	87	35	being	be	AUX
ajfa-1874	87	36	least	least	ADJ
ajfa-1874	87	37	volatile	volatile	ADJ
ajfa-1874	87	38	when	when	SCONJ
ajfa-1874	87	39	flows	flow	NOUN
ajfa-1874	87	40	are	be	AUX
ajfa-1874	87	41	most	most	ADV
ajfa-1874	87	42	volatile	volatile	ADJ
ajfa-1874	87	43	and	and	CCONJ
ajfa-1874	87	44	vice	vice	ADV
ajfa-1874	87	45	versa	versa	NOUN
ajfa-1874	87	46	for	for	ADP
ajfa-1874	87	47	hong	hong	PROPN
ajfa-1874	87	48	kong	kong	PROPN
ajfa-1874	87	49	.	.	PUNCT
ajfa-1874	88	1	excess	excess	ADJ
ajfa-1874	88	2	volatility	volatility	NOUN
ajfa-1874	88	3	was	be	AUX
ajfa-1874	88	4	reported	report	VERB
ajfa-1874	88	5	by	by	ADP
ajfa-1874	88	6	nilsson	nilsson	PROPN
ajfa-1874	88	7	(	(	PUNCT
ajfa-1874	88	8	2002	2002	NUM
ajfa-1874	88	9	)	)	PUNCT
ajfa-1874	88	10	following	follow	VERB
ajfa-1874	88	11	the	the	DET
ajfa-1874	88	12	process	process	NOUN
ajfa-1874	88	13	of	of	ADP
ajfa-1874	88	14	liberalisation	liberalisation	NOUN
ajfa-1874	88	15	using	use	VERB
ajfa-1874	88	16	the	the	DET
ajfa-1874	88	17	markov	markov	NOUN
ajfa-1874	88	18	regime	regime	NOUN
ajfa-1874	88	19	-	-	PUNCT
ajfa-1874	88	20	switching	switch	VERB
ajfa-1874	88	21	model	model	NOUN
ajfa-1874	88	22	.	.	PUNCT
ajfa-1874	89	1	he	he	PRON
ajfa-1874	89	2	finds	find	VERB
ajfa-1874	89	3	evidence	evidence	NOUN
ajfa-1874	89	4	of	of	ADP
ajfa-1874	89	5	higher	high	ADJ
ajfa-1874	89	6	expected	expect	VERB
ajfa-1874	89	7	return	return	NOUN
ajfa-1874	89	8	,	,	PUNCT
ajfa-1874	89	9	higher	high	ADJ
ajfa-1874	89	10	volatility	volatility	NOUN
ajfa-1874	89	11	and	and	CCONJ
ajfa-1874	89	12	stronger	strong	ADJ
ajfa-1874	89	13	links	link	NOUN
ajfa-1874	89	14	with	with	ADP
ajfa-1874	89	15	international	international	ADJ
ajfa-1874	89	16	stock	stock	NOUN
ajfa-1874	89	17	markets	market	NOUN
ajfa-1874	89	18	characteristic	characteristic	ADJ
ajfa-1874	89	19	of	of	ADP
ajfa-1874	89	20	the	the	DET
ajfa-1874	89	21	deregulated	deregulated	ADJ
ajfa-1874	89	22	period	period	NOUN
ajfa-1874	89	23	in	in	ADP
ajfa-1874	89	24	all	all	DET
ajfa-1874	89	25	nordic	nordic	ADJ
ajfa-1874	89	26	stock	stock	NOUN
ajfa-1874	89	27	markets	market	NOUN
ajfa-1874	89	28	.	.	PUNCT
ajfa-1874	90	1	studies	study	NOUN
ajfa-1874	90	2	analyzing	analyze	VERB
ajfa-1874	90	3	the	the	DET
ajfa-1874	90	4	behaviour	behaviour	NOUN
ajfa-1874	90	5	of	of	ADP
ajfa-1874	90	6	stock	stock	NOUN
ajfa-1874	90	7	prices	price	NOUN
ajfa-1874	90	8	over	over	ADP
ajfa-1874	90	9	financial	financial	ADJ
ajfa-1874	90	10	cycles	cycle	NOUN
ajfa-1874	90	11	have	have	AUX
ajfa-1874	90	12	been	be	AUX
ajfa-1874	90	13	undertaken	undertake	VERB
ajfa-1874	90	14	in	in	ADP
ajfa-1874	90	15	the	the	DET
ajfa-1874	90	16	recent	recent	ADJ
ajfa-1874	90	17	years	year	NOUN
ajfa-1874	90	18	.	.	PUNCT
ajfa-1874	91	1	it	it	PRON
ajfa-1874	91	2	was	be	AUX
ajfa-1874	91	3	confirmed	confirm	VERB
ajfa-1874	91	4	in	in	ADP
ajfa-1874	91	5	the	the	DET
ajfa-1874	91	6	study	study	NOUN
ajfa-1874	91	7	that	that	SCONJ
ajfa-1874	91	8	owing	owe	VERB
ajfa-1874	91	9	to	to	ADP
ajfa-1874	91	10	liberalisation	liberalisation	NOUN
ajfa-1874	91	11	the	the	DET
ajfa-1874	91	12	stock	stock	NOUN
ajfa-1874	91	13	markets	market	NOUN
ajfa-1874	91	14	tend	tend	VERB
ajfa-1874	91	15	to	to	PART
ajfa-1874	91	16	become	become	VERB
ajfa-1874	91	17	more	more	ADV
ajfa-1874	91	18	stable	stable	ADJ
ajfa-1874	91	19	.	.	PUNCT
ajfa-1874	92	1	time	time	NOUN
ajfa-1874	92	2	varying	vary	VERB
ajfa-1874	92	3	patterns	pattern	NOUN
ajfa-1874	92	4	of	of	ADP
ajfa-1874	92	5	financial	financial	ADJ
ajfa-1874	92	6	cycles	cycle	NOUN
ajfa-1874	92	7	before	before	ADP
ajfa-1874	92	8	and	and	CCONJ
ajfa-1874	92	9	after	after	SCONJ
ajfa-1874	92	10	financial	financial	ADJ
ajfa-1874	92	11	liberalization	liberalization	NOUN
ajfa-1874	92	12	was	be	AUX
ajfa-1874	92	13	examined	examine	VERB
ajfa-1874	92	14	by	by	ADP
ajfa-1874	92	15	kaminsky	kaminsky	NOUN
ajfa-1874	92	16	and	and	CCONJ
ajfa-1874	92	17	schumkler	schumkler	NOUN
ajfa-1874	92	18	(	(	PUNCT
ajfa-1874	92	19	2001	2001	NUM
ajfa-1874	92	20	,	,	PUNCT
ajfa-1874	92	21	2002	2002	NUM
ajfa-1874	92	22	)	)	PUNCT
ajfa-1874	92	23	in	in	ADP
ajfa-1874	92	24	28	28	NUM
ajfa-1874	92	25	countries	country	NOUN
ajfa-1874	92	26	.	.	PUNCT
ajfa-1874	93	1	the	the	DET
ajfa-1874	93	2	results	result	NOUN
ajfa-1874	93	3	indicate	indicate	VERB
ajfa-1874	93	4	that	that	SCONJ
ajfa-1874	93	5	more	more	ADJ
ajfa-1874	93	6	liberalisation	liberalisation	NOUN
ajfa-1874	93	7	cause	cause	VERB
ajfa-1874	93	8	financial	financial	ADJ
ajfa-1874	93	9	extremes	extreme	NOUN
ajfa-1874	93	10	in	in	ADP
ajfa-1874	93	11	the	the	DET
ajfa-1874	93	12	short	short	ADJ
ajfa-1874	93	13	-	-	PUNCT
ajfa-1874	93	14	run	run	NOUN
ajfa-1874	93	15	and	and	CCONJ
ajfa-1874	93	16	also	also	ADV
ajfa-1874	93	17	brings	bring	VERB
ajfa-1874	93	18	a	a	DET
ajfa-1874	93	19	change	change	NOUN
ajfa-1874	93	20	in	in	ADP
ajfa-1874	93	21	the	the	DET
ajfa-1874	93	22	institutional	institutional	ADJ
ajfa-1874	93	23	set	set	VERB
ajfa-1874	93	24	up	up	ADP
ajfa-1874	93	25	of	of	ADP
ajfa-1874	93	26	which	which	PRON
ajfa-1874	93	27	will	will	AUX
ajfa-1874	93	28	have	have	VERB
ajfa-1874	93	29	a	a	DET
ajfa-1874	93	30	supporting	support	VERB
ajfa-1874	93	31	and	and	CCONJ
ajfa-1874	93	32	better	well	ADJ
ajfa-1874	93	33	functioning	functioning	NOUN
ajfa-1874	93	34	of	of	ADP
ajfa-1874	93	35	financial	financial	ADJ
ajfa-1874	93	36	markets	market	NOUN
ajfa-1874	93	37	.	.	PUNCT
ajfa-1874	94	1	a	a	DET
ajfa-1874	94	2	temporary	temporary	ADJ
ajfa-1874	94	3	rise	rise	NOUN
ajfa-1874	94	4	in	in	ADP
ajfa-1874	94	5	volatility	volatility	NOUN
ajfa-1874	94	6	was	be	AUX
ajfa-1874	94	7	observed	observe	VERB
ajfa-1874	94	8	in	in	ADP
ajfa-1874	94	9	all	all	DET
ajfa-1874	94	10	countries	country	NOUN
ajfa-1874	94	11	immediately	immediately	ADV
ajfa-1874	94	12	after	after	ADP
ajfa-1874	94	13	the	the	DET
ajfa-1874	94	14	liberalisation	liberalisation	NOUN
ajfa-1874	94	15	.	.	PUNCT
ajfa-1874	95	1	in	in	ADP
ajfa-1874	95	2	a	a	DET
ajfa-1874	95	3	study	study	NOUN
ajfa-1874	95	4	done	do	VERB
ajfa-1874	95	5	by	by	ADP
ajfa-1874	95	6	edwards	edwards	PROPN
ajfa-1874	95	7	et	et	PROPN
ajfa-1874	95	8	al	al	PROPN
ajfa-1874	95	9	(	(	PUNCT
ajfa-1874	95	10	2003	2003	NUM
ajfa-1874	95	11	)	)	PUNCT
ajfa-1874	95	12	,	,	PUNCT
ajfa-1874	95	13	the	the	DET
ajfa-1874	95	14	stock	stock	NOUN
ajfa-1874	95	15	price	price	NOUN
ajfa-1874	95	16	behaviour	behaviour	NOUN
ajfa-1874	95	17	in	in	ADP
ajfa-1874	95	18	six	six	NUM
ajfa-1874	95	19	emerging	emerge	VERB
ajfa-1874	95	20	economies	economy	NOUN
ajfa-1874	95	21	is	be	AUX
ajfa-1874	95	22	analyzed	analyze	VERB
ajfa-1874	95	23	.the	.the	ADP
ajfa-1874	95	24	results	result	NOUN
ajfa-1874	95	25	they	they	PRON
ajfa-1874	95	26	find	find	VERB
ajfa-1874	95	27	exhibit	exhibit	VERB
ajfa-1874	95	28	that	that	SCONJ
ajfa-1874	95	29	emerging	emerge	VERB
ajfa-1874	95	30	economies	economy	NOUN
ajfa-1874	95	31	like	like	ADP
ajfa-1874	95	32	korea	korea	PROPN
ajfa-1874	95	33	are	be	AUX
ajfa-1874	95	34	in	in	ADP
ajfa-1874	95	35	the	the	DET
ajfa-1874	95	36	process	process	NOUN
ajfa-1874	95	37	of	of	ADP
ajfa-1874	95	38	recuperating	recuperate	VERB
ajfa-1874	95	39	their	their	PRON
ajfa-1874	95	40	stability	stability	NOUN
ajfa-1874	95	41	where	where	SCONJ
ajfa-1874	95	42	as	as	ADP
ajfa-1874	95	43	more	more	ADV
ajfa-1874	95	44	stable	stable	ADJ
ajfa-1874	95	45	relatively	relatively	ADV
ajfa-1874	95	46	.	.	PUNCT
ajfa-1874	96	1	2.1	2.1	NUM
ajfa-1874	96	2	stock	stock	NOUN
ajfa-1874	96	3	market	market	NOUN
ajfa-1874	96	4	volatility	volatility	NOUN
ajfa-1874	96	5	a	a	DET
ajfa-1874	96	6	study	study	NOUN
ajfa-1874	96	7	(	(	PUNCT
ajfa-1874	96	8	mt	mt	PROPN
ajfa-1874	96	9	raju	raju	PROPN
ajfa-1874	96	10	et	et	PROPN
ajfa-1874	96	11	al	al	PROPN
ajfa-1874	96	12	(	(	PUNCT
ajfa-1874	96	13	2004	2004	NUM
ajfa-1874	96	14	)	)	PUNCT
ajfa-1874	96	15	find	find	VERB
ajfa-1874	96	16	that	that	SCONJ
ajfa-1874	96	17	the	the	DET
ajfa-1874	96	18	volatility	volatility	NOUN
ajfa-1874	96	19	is	be	AUX
ajfa-1874	96	20	less	less	ADJ
ajfa-1874	96	21	in	in	ADP
ajfa-1874	96	22	mature	mature	ADJ
ajfa-1874	96	23	markets	market	NOUN
ajfa-1874	96	24	and	and	CCONJ
ajfa-1874	96	25	provide	provide	VERB
ajfa-1874	96	26	asian	asian	ADJ
ajfa-1874	96	27	journal	journal	NOUN
ajfa-1874	96	28	of	of	ADP
ajfa-1874	96	29	finance	finance	PROPN
ajfa-1874	96	30	&	&	CCONJ
ajfa-1874	96	31	accounting	accounting	PROPN
ajfa-1874	96	32	issn	issn	PROPN
ajfa-1874	96	33	1946	1946	NUM
ajfa-1874	96	34	-	-	PUNCT
ajfa-1874	96	35	052x	052x	NOUN
ajfa-1874	96	36	2012	2012	NUM
ajfa-1874	96	37	,	,	PUNCT
ajfa-1874	96	38	vol	vol	NOUN
ajfa-1874	96	39	.	.	PROPN
ajfa-1874	97	1	4	4	NUM
ajfa-1874	97	2	,	,	PUNCT
ajfa-1874	97	3	no	no	INTJ
ajfa-1874	97	4	.	.	NOUN
ajfa-1874	97	5	2	2	NUM
ajfa-1874	97	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	97	7	25	25	NUM
ajfa-1874	97	8	very	very	ADV
ajfa-1874	97	9	high	high	ADJ
ajfa-1874	97	10	returns	return	NOUN
ajfa-1874	97	11	.	.	PUNCT
ajfa-1874	98	1	india	india	PROPN
ajfa-1874	98	2	and	and	CCONJ
ajfa-1874	98	3	china	china	PROPN
ajfa-1874	98	4	exhibit	exhibit	VERB
ajfa-1874	98	5	high	high	ADJ
ajfa-1874	98	6	returns	return	NOUN
ajfa-1874	98	7	where	where	SCONJ
ajfa-1874	98	8	as	as	SCONJ
ajfa-1874	98	9	all	all	DET
ajfa-1874	98	10	other	other	ADJ
ajfa-1874	98	11	emerging	emerge	VERB
ajfa-1874	98	12	economies	economy	NOUN
ajfa-1874	98	13	exhibit	exhibit	VERB
ajfa-1874	98	14	low	low	ADJ
ajfa-1874	98	15	returns	return	NOUN
ajfa-1874	98	16	.	.	PUNCT
ajfa-1874	99	1	a	a	DET
ajfa-1874	99	2	study	study	NOUN
ajfa-1874	99	3	is	be	AUX
ajfa-1874	99	4	done	do	VERB
ajfa-1874	99	5	on	on	ADP
ajfa-1874	99	6	spot	spot	NOUN
ajfa-1874	99	7	price	price	NOUN
ajfa-1874	99	8	indices	index	NOUN
ajfa-1874	99	9	of	of	ADP
ajfa-1874	99	10	bse	bse	NOUN
ajfa-1874	99	11	sensex	sensex	NOUN
ajfa-1874	99	12	and	and	CCONJ
ajfa-1874	99	13	s&p	s&p	PROPN
ajfa-1874	99	14	cnx	cnx	PROPN
ajfa-1874	99	15	nifty	nifty	ADJ
ajfa-1874	99	16	to	to	PART
ajfa-1874	99	17	explain	explain	VERB
ajfa-1874	99	18	the	the	DET
ajfa-1874	99	19	extent	extent	NOUN
ajfa-1874	99	20	and	and	CCONJ
ajfa-1874	99	21	patterns	pattern	NOUN
ajfa-1874	99	22	of	of	ADP
ajfa-1874	99	23	stock	stock	NOUN
ajfa-1874	99	24	return	return	NOUN
ajfa-1874	99	25	volatility	volatility	NOUN
ajfa-1874	99	26	.	.	PUNCT
ajfa-1874	100	1	the	the	DET
ajfa-1874	100	2	results	result	NOUN
ajfa-1874	100	3	exhibits	exhibit	VERB
ajfa-1874	100	4	rise	rise	NOUN
ajfa-1874	100	5	in	in	ADP
ajfa-1874	100	6	volatility	volatility	NOUN
ajfa-1874	100	7	in	in	ADP
ajfa-1874	100	8	the	the	DET
ajfa-1874	100	9	period	period	NOUN
ajfa-1874	100	10	1990	1990	NUM
ajfa-1874	100	11	-	-	SYM
ajfa-1874	100	12	2000	2000	NUM
ajfa-1874	100	13	,	,	PUNCT
ajfa-1874	100	14	with	with	ADP
ajfa-1874	100	15	a	a	DET
ajfa-1874	100	16	sharp	sharp	ADJ
ajfa-1874	100	17	fall	fall	NOUN
ajfa-1874	100	18	in	in	ADP
ajfa-1874	100	19	1992	1992	NUM
ajfa-1874	100	20	till	till	SCONJ
ajfa-1874	100	21	1995	1995	NUM
ajfa-1874	100	22	,	,	PUNCT
ajfa-1874	100	23	after	after	ADP
ajfa-1874	100	24	which	which	PRON
ajfa-1874	100	25	there	there	PRON
ajfa-1874	100	26	was	be	VERB
ajfa-1874	100	27	a	a	DET
ajfa-1874	100	28	sharp	sharp	ADJ
ajfa-1874	100	29	rise	rise	NOUN
ajfa-1874	100	30	,	,	PUNCT
ajfa-1874	100	31	however	however	ADV
ajfa-1874	100	32	the	the	DET
ajfa-1874	100	33	volatility	volatility	NOUN
ajfa-1874	100	34	in	in	ADP
ajfa-1874	100	35	the	the	DET
ajfa-1874	100	36	portfolio	portfolio	NOUN
ajfa-1874	100	37	into	into	ADP
ajfa-1874	100	38	india	india	PROPN
ajfa-1874	100	39	was	be	AUX
ajfa-1874	100	40	very	very	ADV
ajfa-1874	100	41	small	small	ADJ
ajfa-1874	100	42	in	in	ADP
ajfa-1874	100	43	comparison	comparison	NOUN
ajfa-1874	100	44	to	to	ADP
ajfa-1874	100	45	other	other	ADJ
ajfa-1874	100	46	emerging	emerge	VERB
ajfa-1874	100	47	markets	market	NOUN
ajfa-1874	100	48	,	,	PUNCT
ajfa-1874	100	49	(	(	PUNCT
ajfa-1874	100	50	gordan	gordan	PROPN
ajfa-1874	100	51	j	j	PROPN
ajfa-1874	100	52	and	and	CCONJ
ajfa-1874	100	53	p	p	PROPN
ajfa-1874	100	54	gupta	gupta	PROPN
ajfa-1874	100	55	(	(	PUNCT
ajfa-1874	100	56	2003	2003	NUM
ajfa-1874	100	57	)	)	PUNCT
ajfa-1874	100	58	,	,	PUNCT
ajfa-1874	100	59	harivinder	harivinder	PROPN
ajfa-1874	100	60	kaur	kaur	PROPN
ajfa-1874	100	61	’s	’s	PART
ajfa-1874	101	1	(	(	PUNCT
ajfa-1874	101	2	2004).stock	2004).stock	NUM
ajfa-1874	101	3	market	market	NOUN
ajfa-1874	101	4	volatility	volatility	NOUN
ajfa-1874	101	5	plays	play	VERB
ajfa-1874	101	6	an	an	DET
ajfa-1874	101	7	imperative	imperative	ADJ
ajfa-1874	101	8	role	role	NOUN
ajfa-1874	101	9	in	in	ADP
ajfa-1874	101	10	the	the	DET
ajfa-1874	101	11	financial	financial	ADJ
ajfa-1874	101	12	development	development	NOUN
ajfa-1874	101	13	as	as	ADV
ajfa-1874	101	14	well	well	ADV
ajfa-1874	101	15	as	as	ADP
ajfa-1874	101	16	growth	growth	NOUN
ajfa-1874	101	17	.	.	PUNCT
ajfa-1874	102	1	daily	daily	ADJ
ajfa-1874	102	2	volatility	volatility	NOUN
ajfa-1874	102	3	is	be	AUX
ajfa-1874	102	4	calculated	calculate	VERB
ajfa-1874	102	5	as	as	ADP
ajfa-1874	102	6	a	a	DET
ajfa-1874	102	7	standard	standard	ADJ
ajfa-1874	102	8	deviation	deviation	NOUN
ajfa-1874	102	9	of	of	ADP
ajfa-1874	102	10	the	the	DET
ajfa-1874	102	11	natural	natural	ADJ
ajfa-1874	102	12	log	log	NOUN
ajfa-1874	102	13	of	of	ADP
ajfa-1874	102	14	daily	daily	ADJ
ajfa-1874	102	15	returns	return	NOUN
ajfa-1874	102	16	on	on	ADP
ajfa-1874	102	17	the	the	DET
ajfa-1874	102	18	indices	index	NOUN
ajfa-1874	102	19	for	for	ADP
ajfa-1874	102	20	the	the	DET
ajfa-1874	102	21	respective	respective	ADJ
ajfa-1874	102	22	months	month	NOUN
ajfa-1874	102	23	.	.	PUNCT
ajfa-1874	103	1	volatility	volatility	NOUN
ajfa-1874	103	2	in	in	ADP
ajfa-1874	103	3	stock	stock	NOUN
ajfa-1874	103	4	prices	price	NOUN
ajfa-1874	103	5	in	in	ADP
ajfa-1874	103	6	india	india	PROPN
ajfa-1874	103	7	,	,	PUNCT
ajfa-1874	103	8	by	by	ADP
ajfa-1874	103	9	and	and	CCONJ
ajfa-1874	103	10	large	large	ADJ
ajfa-1874	103	11	has	have	AUX
ajfa-1874	103	12	shown	show	VERB
ajfa-1874	103	13	a	a	DET
ajfa-1874	103	14	flagging	flagging	ADJ
ajfa-1874	103	15	drift	drift	NOUN
ajfa-1874	103	16	except	except	SCONJ
ajfa-1874	103	17	in	in	ADP
ajfa-1874	103	18	few	few	ADJ
ajfa-1874	103	19	certain	certain	ADJ
ajfa-1874	103	20	months	month	NOUN
ajfa-1874	103	21	.	.	PUNCT
ajfa-1874	104	1	the	the	DET
ajfa-1874	104	2	market	market	NOUN
ajfa-1874	104	3	may	may	AUX
ajfa-1874	104	4	have	have	AUX
ajfa-1874	104	5	turned	turn	VERB
ajfa-1874	104	6	riskier	risky	ADJ
ajfa-1874	104	7	,	,	PUNCT
ajfa-1874	104	8	messy	messy	ADJ
ajfa-1874	104	9	politics	politic	NOUN
ajfa-1874	104	10	could	could	AUX
ajfa-1874	104	11	resurface	resurface	VERB
ajfa-1874	104	12	,	,	PUNCT
ajfa-1874	104	13	and	and	CCONJ
ajfa-1874	104	14	oil	oil	NOUN
ajfa-1874	104	15	prices	price	NOUN
ajfa-1874	104	16	are	be	AUX
ajfa-1874	104	17	at	at	ADP
ajfa-1874	104	18	a	a	DET
ajfa-1874	104	19	new	new	ADJ
ajfa-1874	104	20	high	high	NOUN
ajfa-1874	104	21	(	(	PUNCT
ajfa-1874	104	22	but	but	CCONJ
ajfa-1874	104	23	at	at	ADP
ajfa-1874	104	24	present	present	ADJ
ajfa-1874	104	25	low	low	ADJ
ajfa-1874	104	26	)	)	PUNCT
ajfa-1874	104	27	;	;	PUNCT
ajfa-1874	104	28	but	but	CCONJ
ajfa-1874	104	29	nothing	nothing	PRON
ajfa-1874	104	30	seems	seem	VERB
ajfa-1874	104	31	to	to	PART
ajfa-1874	104	32	worry	worry	VERB
ajfa-1874	104	33	local	local	ADJ
ajfa-1874	104	34	investors	investor	NOUN
ajfa-1874	104	35	,	,	PUNCT
ajfa-1874	104	36	who	who	PRON
ajfa-1874	104	37	feel	feel	VERB
ajfa-1874	104	38	the	the	DET
ajfa-1874	104	39	index	index	NOUN
ajfa-1874	104	40	can	can	AUX
ajfa-1874	104	41	go	go	VERB
ajfa-1874	104	42	up	up	ADV
ajfa-1874	104	43	further	far	ADV
ajfa-1874	104	44	.	.	PUNCT
ajfa-1874	105	1	anand	anand	PROPN
ajfa-1874	105	2	bansal	bansal	PROPN
ajfa-1874	105	3	and	and	CCONJ
ajfa-1874	105	4	j.s	j.s	PROPN
ajfa-1874	105	5	.	.	PROPN
ajfa-1874	105	6	pasricha	pasricha	PROPN
ajfa-1874	105	7	(	(	PUNCT
ajfa-1874	105	8	2009	2009	NUM
ajfa-1874	105	9	)	)	PUNCT
ajfa-1874	105	10	studied	study	VERB
ajfa-1874	105	11	the	the	DET
ajfa-1874	105	12	impact	impact	NOUN
ajfa-1874	105	13	of	of	ADP
ajfa-1874	105	14	market	market	NOUN
ajfa-1874	105	15	opening	opening	NOUN
ajfa-1874	105	16	to	to	ADP
ajfa-1874	105	17	fiis	fiis	NOUN
ajfa-1874	105	18	on	on	ADP
ajfa-1874	105	19	indian	indian	ADJ
ajfa-1874	105	20	stock	stock	NOUN
ajfa-1874	105	21	market	market	NOUN
ajfa-1874	105	22	behaviour	behaviour	NOUN
ajfa-1874	105	23	.	.	PUNCT
ajfa-1874	106	1	they	they	PRON
ajfa-1874	106	2	empirically	empirically	ADV
ajfa-1874	106	3	analyze	analyze	VERB
ajfa-1874	106	4	the	the	DET
ajfa-1874	106	5	change	change	NOUN
ajfa-1874	106	6	of	of	ADP
ajfa-1874	106	7	market	market	NOUN
ajfa-1874	106	8	return	return	NOUN
ajfa-1874	106	9	and	and	CCONJ
ajfa-1874	106	10	volatility	volatility	NOUN
ajfa-1874	106	11	after	after	ADP
ajfa-1874	106	12	the	the	DET
ajfa-1874	106	13	entry	entry	NOUN
ajfa-1874	106	14	of	of	ADP
ajfa-1874	106	15	fiis	fiis	NOUN
ajfa-1874	106	16	to	to	ADP
ajfa-1874	106	17	indian	indian	ADJ
ajfa-1874	106	18	capital	capital	NOUN
ajfa-1874	106	19	market	market	NOUN
ajfa-1874	106	20	and	and	CCONJ
ajfa-1874	106	21	found	find	VERB
ajfa-1874	106	22	that	that	SCONJ
ajfa-1874	106	23	there	there	PRON
ajfa-1874	106	24	is	be	VERB
ajfa-1874	106	25	no	no	DET
ajfa-1874	106	26	significant	significant	ADJ
ajfa-1874	106	27	change	change	NOUN
ajfa-1874	106	28	in	in	ADP
ajfa-1874	106	29	the	the	DET
ajfa-1874	106	30	indian	indian	ADJ
ajfa-1874	106	31	stock	stock	NOUN
ajfa-1874	106	32	market	market	NOUN
ajfa-1874	106	33	average	average	ADJ
ajfa-1874	106	34	returns	return	NOUN
ajfa-1874	106	35	;	;	PUNCT
ajfa-1874	106	36	volatility	volatility	NOUN
ajfa-1874	106	37	is	be	AUX
ajfa-1874	106	38	significantly	significantly	ADV
ajfa-1874	106	39	reduced	reduce	VERB
ajfa-1874	106	40	after	after	SCONJ
ajfa-1874	106	41	india	india	PROPN
ajfa-1874	106	42	unlocked	unlock	VERB
ajfa-1874	106	43	its	its	PRON
ajfa-1874	106	44	stock	stock	NOUN
ajfa-1874	106	45	market	market	NOUN
ajfa-1874	106	46	to	to	ADP
ajfa-1874	106	47	foreign	foreign	ADJ
ajfa-1874	106	48	investors	investor	NOUN
ajfa-1874	106	49	.	.	PUNCT
ajfa-1874	107	1	in	in	ADP
ajfa-1874	107	2	the	the	DET
ajfa-1874	107	3	next	next	ADJ
ajfa-1874	107	4	section	section	NOUN
ajfa-1874	107	5	we	we	PRON
ajfa-1874	107	6	are	be	AUX
ajfa-1874	107	7	discussing	discuss	VERB
ajfa-1874	107	8	the	the	DET
ajfa-1874	107	9	data	datum	NOUN
ajfa-1874	107	10	sources	source	NOUN
ajfa-1874	107	11	and	and	CCONJ
ajfa-1874	107	12	methodology	methodology	NOUN
ajfa-1874	107	13	of	of	ADP
ajfa-1874	107	14	the	the	DET
ajfa-1874	107	15	study	study	NOUN
ajfa-1874	107	16	understanding	understand	VERB
ajfa-1874	107	17	volatility	volatility	NOUN
ajfa-1874	107	18	is	be	AUX
ajfa-1874	107	19	therefore	therefore	ADV
ajfa-1874	107	20	central	central	ADJ
ajfa-1874	107	21	to	to	PART
ajfa-1874	107	22	risk	risk	VERB
ajfa-1874	107	23	management	management	NOUN
ajfa-1874	107	24	in	in	ADP
ajfa-1874	107	25	an	an	DET
ajfa-1874	107	26	economy	economy	NOUN
ajfa-1874	107	27	.	.	PUNCT
ajfa-1874	108	1	asymmetry	asymmetry	NOUN
ajfa-1874	108	2	in	in	ADP
ajfa-1874	108	3	stock	stock	NOUN
ajfa-1874	108	4	market	market	NOUN
ajfa-1874	108	5	volatility	volatility	NOUN
ajfa-1874	108	6	has	have	VERB
ajfa-1874	108	7	its	its	PRON
ajfa-1874	108	8	own	own	ADJ
ajfa-1874	108	9	significance	significance	NOUN
ajfa-1874	108	10	,	,	PUNCT
ajfa-1874	108	11	which	which	PRON
ajfa-1874	108	12	implies	imply	VERB
ajfa-1874	108	13	volatility	volatility	NOUN
ajfa-1874	108	14	rises	rise	VERB
ajfa-1874	108	15	after	after	ADP
ajfa-1874	108	16	negative	negative	ADJ
ajfa-1874	108	17	shock	shock	NOUN
ajfa-1874	108	18	than	than	ADP
ajfa-1874	108	19	positive	positive	ADJ
ajfa-1874	108	20	shock	shock	NOUN
ajfa-1874	108	21	of	of	ADP
ajfa-1874	108	22	similar	similar	ADJ
ajfa-1874	108	23	magnitude	magnitude	NOUN
ajfa-1874	108	24	.	.	PUNCT
ajfa-1874	109	1	if	if	SCONJ
ajfa-1874	109	2	the	the	DET
ajfa-1874	109	3	stock	stock	NOUN
ajfa-1874	109	4	market	market	NOUN
ajfa-1874	109	5	is	be	AUX
ajfa-1874	109	6	efficient	efficient	ADJ
ajfa-1874	109	7	,	,	PUNCT
ajfa-1874	109	8	then	then	ADV
ajfa-1874	109	9	the	the	DET
ajfa-1874	109	10	volatility	volatility	NOUN
ajfa-1874	109	11	of	of	ADP
ajfa-1874	109	12	stock	stock	NOUN
ajfa-1874	109	13	returns	return	NOUN
ajfa-1874	109	14	should	should	AUX
ajfa-1874	109	15	be	be	AUX
ajfa-1874	109	16	related	relate	VERB
ajfa-1874	109	17	to	to	ADP
ajfa-1874	109	18	the	the	DET
ajfa-1874	109	19	volatility	volatility	NOUN
ajfa-1874	109	20	of	of	ADP
ajfa-1874	109	21	the	the	DET
ajfa-1874	109	22	variables	variable	NOUN
ajfa-1874	109	23	that	that	PRON
ajfa-1874	109	24	affect	affect	VERB
ajfa-1874	109	25	asset	asset	NOUN
ajfa-1874	109	26	prices	price	NOUN
ajfa-1874	109	27	.	.	PUNCT
ajfa-1874	110	1	stock	stock	NOUN
ajfa-1874	110	2	market	market	NOUN
ajfa-1874	110	3	volatility	volatility	NOUN
ajfa-1874	110	4	tends	tend	VERB
ajfa-1874	110	5	to	to	PART
ajfa-1874	110	6	be	be	AUX
ajfa-1874	110	7	persistent	persistent	ADJ
ajfa-1874	110	8	;	;	PUNCT
ajfa-1874	110	9	that	that	PRON
ajfa-1874	110	10	is	is	ADV
ajfa-1874	110	11	,	,	PUNCT
ajfa-1874	110	12	periods	period	NOUN
ajfa-1874	110	13	of	of	ADP
ajfa-1874	110	14	high	high	ADJ
ajfa-1874	110	15	volatility	volatility	NOUN
ajfa-1874	110	16	as	as	ADV
ajfa-1874	110	17	well	well	ADV
ajfa-1874	110	18	as	as	ADP
ajfa-1874	110	19	low	low	ADJ
ajfa-1874	110	20	volatility	volatility	NOUN
ajfa-1874	110	21	tend	tend	VERB
ajfa-1874	110	22	to	to	PART
ajfa-1874	110	23	last	last	VERB
ajfa-1874	110	24	for	for	ADP
ajfa-1874	110	25	months	month	NOUN
ajfa-1874	110	26	.	.	PUNCT
ajfa-1874	111	1	in	in	ADP
ajfa-1874	111	2	particular	particular	ADJ
ajfa-1874	111	3	,	,	PUNCT
ajfa-1874	111	4	periods	period	NOUN
ajfa-1874	111	5	of	of	ADP
ajfa-1874	111	6	high	high	ADJ
ajfa-1874	111	7	volatility	volatility	NOUN
ajfa-1874	111	8	tend	tend	VERB
ajfa-1874	111	9	to	to	PART
ajfa-1874	111	10	occur	occur	VERB
ajfa-1874	111	11	when	when	SCONJ
ajfa-1874	111	12	stock	stock	NOUN
ajfa-1874	111	13	prices	price	NOUN
ajfa-1874	111	14	are	be	AUX
ajfa-1874	111	15	falling	fall	VERB
ajfa-1874	111	16	and	and	CCONJ
ajfa-1874	111	17	during	during	ADP
ajfa-1874	111	18	recessions	recession	NOUN
ajfa-1874	111	19	.	.	PUNCT
ajfa-1874	112	1	the	the	DET
ajfa-1874	112	2	relationship	relationship	NOUN
ajfa-1874	112	3	of	of	ADP
ajfa-1874	112	4	stock	stock	NOUN
ajfa-1874	112	5	market	market	NOUN
ajfa-1874	112	6	volatility	volatility	NOUN
ajfa-1874	112	7	with	with	ADP
ajfa-1874	112	8	that	that	PRON
ajfa-1874	112	9	of	of	ADP
ajfa-1874	112	10	economic	economic	ADJ
ajfa-1874	112	11	variables	variable	NOUN
ajfa-1874	112	12	like	like	ADP
ajfa-1874	112	13	inflation	inflation	NOUN
ajfa-1874	112	14	,	,	PUNCT
ajfa-1874	112	15	industrial	industrial	ADJ
ajfa-1874	112	16	production	production	NOUN
ajfa-1874	112	17	and	and	CCONJ
ajfa-1874	112	18	debt	debt	NOUN
ajfa-1874	112	19	levels	level	NOUN
ajfa-1874	112	20	in	in	ADP
ajfa-1874	112	21	the	the	DET
ajfa-1874	112	22	indian	indian	ADJ
ajfa-1874	112	23	corporate	corporate	ADJ
ajfa-1874	112	24	sector	sector	NOUN
ajfa-1874	112	25	also	also	ADV
ajfa-1874	112	26	is	be	AUX
ajfa-1874	112	27	positively	positively	ADV
ajfa-1874	112	28	related	relate	VERB
ajfa-1874	112	29	to	to	ADP
ajfa-1874	112	30	volatility	volatility	NOUN
ajfa-1874	112	31	in	in	ADP
ajfa-1874	112	32	economic	economic	ADJ
ajfa-1874	112	33	variables	variable	NOUN
ajfa-1874	112	34	,	,	PUNCT
ajfa-1874	112	35	such	such	ADJ
ajfa-1874	112	36	as	as	ADP
ajfa-1874	112	37	inflation	inflation	NOUN
ajfa-1874	112	38	,	,	PUNCT
ajfa-1874	112	39	industrial	industrial	ADJ
ajfa-1874	112	40	production	production	NOUN
ajfa-1874	112	41	,	,	PUNCT
ajfa-1874	112	42	and	and	CCONJ
ajfa-1874	112	43	debt	debt	NOUN
ajfa-1874	112	44	levels	level	NOUN
ajfa-1874	112	45	in	in	ADP
ajfa-1874	112	46	the	the	DET
ajfa-1874	112	47	corporate	corporate	ADJ
ajfa-1874	112	48	sector	sector	NOUN
ajfa-1874	112	49	(	(	PUNCT
ajfa-1874	112	50	schwert	schwert	NOUN
ajfa-1874	112	51	1989	1989	NUM
ajfa-1874	112	52	)	)	PUNCT
ajfa-1874	112	53	.	.	PUNCT
ajfa-1874	113	1	after	after	ADP
ajfa-1874	113	2	review	review	VERB
ajfa-1874	113	3	the	the	DET
ajfa-1874	113	4	literature	literature	NOUN
ajfa-1874	113	5	,	,	PUNCT
ajfa-1874	113	6	it	it	PRON
ajfa-1874	113	7	is	be	AUX
ajfa-1874	113	8	quite	quite	ADV
ajfa-1874	113	9	evident	evident	ADJ
ajfa-1874	113	10	that	that	SCONJ
ajfa-1874	113	11	this	this	DET
ajfa-1874	113	12	issue	issue	NOUN
ajfa-1874	113	13	of	of	ADP
ajfa-1874	113	14	volatility	volatility	NOUN
ajfa-1874	113	15	of	of	ADP
ajfa-1874	113	16	stock	stock	NOUN
ajfa-1874	113	17	returns	return	NOUN
ajfa-1874	113	18	owing	owe	VERB
ajfa-1874	113	19	to	to	ADP
ajfa-1874	113	20	liberalisation	liberalisation	NOUN
ajfa-1874	113	21	in	in	ADP
ajfa-1874	113	22	emerging	emerge	VERB
ajfa-1874	113	23	economies	economy	NOUN
ajfa-1874	113	24	has	have	AUX
ajfa-1874	113	25	been	be	AUX
ajfa-1874	113	26	studied	study	VERB
ajfa-1874	113	27	and	and	CCONJ
ajfa-1874	113	28	examined	examine	VERB
ajfa-1874	113	29	extensively	extensively	ADV
ajfa-1874	113	30	in	in	ADP
ajfa-1874	113	31	the	the	DET
ajfa-1874	113	32	recent	recent	ADJ
ajfa-1874	113	33	years	year	NOUN
ajfa-1874	113	34	.	.	PUNCT
ajfa-1874	114	1	india	india	PROPN
ajfa-1874	114	2	is	be	AUX
ajfa-1874	114	3	not	not	PART
ajfa-1874	114	4	included	include	VERB
ajfa-1874	114	5	in	in	ADP
ajfa-1874	114	6	the	the	DET
ajfa-1874	114	7	sample	sample	NOUN
ajfa-1874	114	8	of	of	ADP
ajfa-1874	114	9	countries	country	NOUN
ajfa-1874	114	10	for	for	ADP
ajfa-1874	114	11	which	which	PRON
ajfa-1874	114	12	liberalization	liberalization	NOUN
ajfa-1874	114	13	and	and	CCONJ
ajfa-1874	114	14	volatility	volatility	NOUN
ajfa-1874	114	15	is	be	AUX
ajfa-1874	114	16	analyzed	analyze	VERB
ajfa-1874	114	17	as	as	SCONJ
ajfa-1874	114	18	it	it	PRON
ajfa-1874	114	19	was	be	AUX
ajfa-1874	114	20	mainly	mainly	ADV
ajfa-1874	114	21	limited	limit	VERB
ajfa-1874	114	22	to	to	ADP
ajfa-1874	114	23	latin	latin	PROPN
ajfa-1874	114	24	america	america	PROPN
ajfa-1874	114	25	and	and	CCONJ
ajfa-1874	114	26	east	east	PROPN
ajfa-1874	114	27	asia	asia	PROPN
ajfa-1874	114	28	.	.	PUNCT
ajfa-1874	115	1	as	as	SCONJ
ajfa-1874	115	2	mentioned	mention	VERB
ajfa-1874	115	3	above	above	ADV
ajfa-1874	115	4	,	,	PUNCT
ajfa-1874	115	5	empirical	empirical	ADJ
ajfa-1874	115	6	literature	literature	NOUN
ajfa-1874	115	7	on	on	ADP
ajfa-1874	115	8	lead	lead	NOUN
ajfa-1874	115	9	-	-	PUNCT
ajfa-1874	115	10	lag	lag	NOUN
ajfa-1874	115	11	and	and	CCONJ
ajfa-1874	115	12	volatility	volatility	NOUN
ajfa-1874	115	13	spillover	spillover	VERB
ajfa-1874	115	14	mainly	mainly	ADV
ajfa-1874	115	15	deals	deal	NOUN
ajfa-1874	115	16	with	with	ADP
ajfa-1874	115	17	developed	develop	VERB
ajfa-1874	115	18	markets	market	NOUN
ajfa-1874	115	19	like	like	ADP
ajfa-1874	115	20	us	we	PRON
ajfa-1874	115	21	and	and	CCONJ
ajfa-1874	115	22	uk	uk	PROPN
ajfa-1874	115	23	.	.	PROPN
ajfa-1874	116	1	in	in	ADP
ajfa-1874	116	2	india	india	PROPN
ajfa-1874	116	3	significant	significant	ADJ
ajfa-1874	116	4	and	and	CCONJ
ajfa-1874	116	5	relevant	relevant	ADJ
ajfa-1874	116	6	literature	literature	NOUN
ajfa-1874	116	7	in	in	ADP
ajfa-1874	116	8	this	this	DET
ajfa-1874	116	9	context	context	NOUN
ajfa-1874	116	10	is	be	AUX
ajfa-1874	116	11	thin	thin	ADJ
ajfa-1874	116	12	this	this	DET
ajfa-1874	116	13	paper	paper	NOUN
ajfa-1874	116	14	examines	examine	VERB
ajfa-1874	116	15	the	the	DET
ajfa-1874	116	16	case	case	NOUN
ajfa-1874	116	17	for	for	ADP
ajfa-1874	116	18	india	india	PROPN
ajfa-1874	116	19	i.e.	i.e.	X
ajfa-1874	116	20	,	,	PUNCT
ajfa-1874	116	21	the	the	DET
ajfa-1874	116	22	fii	fii	PROPN
ajfa-1874	116	23	investment	investment	NOUN
ajfa-1874	116	24	patterns	pattern	NOUN
ajfa-1874	116	25	effectively	effectively	ADV
ajfa-1874	116	26	serves	serve	VERB
ajfa-1874	116	27	the	the	DET
ajfa-1874	116	28	price	price	NOUN
ajfa-1874	116	29	discovery	discovery	NOUN
ajfa-1874	116	30	function	function	NOUN
ajfa-1874	116	31	and	and	CCONJ
ajfa-1874	116	32	impacts	impact	VERB
ajfa-1874	116	33	the	the	DET
ajfa-1874	116	34	nifty	nifty	ADJ
ajfa-1874	116	35	closing	closing	NOUN
ajfa-1874	116	36	prices	price	NOUN
ajfa-1874	116	37	and	and	CCONJ
ajfa-1874	116	38	vice	vice	NOUN
ajfa-1874	116	39	-	-	NOUN
ajfa-1874	116	40	versa	versa	PROPN
ajfa-1874	116	41	,	,	PUNCT
ajfa-1874	116	42	and	and	CCONJ
ajfa-1874	116	43	that	that	SCONJ
ajfa-1874	116	44	the	the	DET
ajfa-1874	116	45	introduction	introduction	NOUN
ajfa-1874	116	46	of	of	ADP
ajfa-1874	116	47	fii	fii	PROPN
ajfa-1874	116	48	equity	equity	NOUN
ajfa-1874	116	49	investment	investment	NOUN
ajfa-1874	116	50	has	have	AUX
ajfa-1874	116	51	resulted	result	VERB
ajfa-1874	116	52	in	in	ADP
ajfa-1874	116	53	volatility	volatility	NOUN
ajfa-1874	116	54	in	in	ADP
ajfa-1874	116	55	the	the	DET
ajfa-1874	116	56	nifty	nifty	ADJ
ajfa-1874	116	57	closing	close	VERB
ajfa-1874	116	58	prices	price	NOUN
ajfa-1874	116	59	and	and	CCONJ
ajfa-1874	116	60	vice	vice	NOUN
ajfa-1874	116	61	-	-	NOUN
ajfa-1874	116	62	versa	versa	ADJ
ajfa-1874	116	63	.this	.this	PRON
ajfa-1874	116	64	study	study	NOUN
ajfa-1874	116	65	is	be	AUX
ajfa-1874	116	66	a	a	DET
ajfa-1874	116	67	modest	modest	ADJ
ajfa-1874	116	68	attempt	attempt	NOUN
ajfa-1874	116	69	to	to	PART
ajfa-1874	116	70	fill	fill	VERB
ajfa-1874	116	71	this	this	DET
ajfa-1874	116	72	gap	gap	NOUN
ajfa-1874	116	73	through	through	ADP
ajfa-1874	116	74	our	our	PRON
ajfa-1874	116	75	analysis	analysis	NOUN
ajfa-1874	116	76	.	.	PUNCT
ajfa-1874	117	1	3	3	X
ajfa-1874	117	2	.	.	X
ajfa-1874	117	3	data	datum	NOUN
ajfa-1874	117	4	and	and	CCONJ
ajfa-1874	117	5	methodology	methodology	NOUN
ajfa-1874	117	6	period	period	NOUN
ajfa-1874	117	7	of	of	ADP
ajfa-1874	117	8	study	study	NOUN
ajfa-1874	117	9	:	:	PUNCT
ajfa-1874	117	10	the	the	DET
ajfa-1874	117	11	study	study	NOUN
ajfa-1874	117	12	spans	span	VERB
ajfa-1874	117	13	the	the	DET
ajfa-1874	117	14	period	period	NOUN
ajfa-1874	117	15	january	january	PROPN
ajfa-1874	117	16	1992	1992	NUM
ajfa-1874	117	17	to	to	PART
ajfa-1874	117	18	march	march	VERB
ajfa-1874	117	19	2011.this	2011.this	NUM
ajfa-1874	117	20	period	period	NOUN
ajfa-1874	117	21	is	be	AUX
ajfa-1874	117	22	very	very	ADV
ajfa-1874	117	23	asian	asian	ADJ
ajfa-1874	117	24	journal	journal	NOUN
ajfa-1874	117	25	of	of	ADP
ajfa-1874	117	26	finance	finance	PROPN
ajfa-1874	117	27	&	&	CCONJ
ajfa-1874	117	28	accounting	accounting	PROPN
ajfa-1874	117	29	issn	issn	PROPN
ajfa-1874	117	30	1946	1946	NUM
ajfa-1874	117	31	-	-	PUNCT
ajfa-1874	117	32	052x	052x	NOUN
ajfa-1874	117	33	2012	2012	NUM
ajfa-1874	117	34	,	,	PUNCT
ajfa-1874	117	35	vol	vol	NOUN
ajfa-1874	117	36	.	.	PROPN
ajfa-1874	118	1	4	4	NUM
ajfa-1874	118	2	,	,	PUNCT
ajfa-1874	118	3	no	no	INTJ
ajfa-1874	118	4	.	.	NOUN
ajfa-1874	118	5	2	2	NUM
ajfa-1874	118	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	118	7	26	26	NUM
ajfa-1874	118	8	important	important	ADJ
ajfa-1874	118	9	as	as	SCONJ
ajfa-1874	118	10	major	major	ADJ
ajfa-1874	118	11	changes	change	NOUN
ajfa-1874	118	12	took	take	VERB
ajfa-1874	118	13	place	place	NOUN
ajfa-1874	118	14	in	in	ADP
ajfa-1874	118	15	these	these	DET
ajfa-1874	118	16	years	year	NOUN
ajfa-1874	118	17	and	and	CCONJ
ajfa-1874	118	18	also	also	ADV
ajfa-1874	118	19	,	,	PUNCT
ajfa-1874	118	20	major	major	ADJ
ajfa-1874	118	21	changes	change	NOUN
ajfa-1874	118	22	were	be	AUX
ajfa-1874	118	23	brought	bring	VERB
ajfa-1874	118	24	about	about	ADP
ajfa-1874	118	25	in	in	ADP
ajfa-1874	118	26	the	the	DET
ajfa-1874	118	27	structure	structure	NOUN
ajfa-1874	118	28	as	as	ADV
ajfa-1874	118	29	well	well	ADV
ajfa-1874	118	30	as	as	ADP
ajfa-1874	118	31	functioning	function	VERB
ajfa-1874	118	32	of	of	ADP
ajfa-1874	118	33	the	the	DET
ajfa-1874	118	34	indian	indian	ADJ
ajfa-1874	118	35	stock	stock	NOUN
ajfa-1874	118	36	markets	market	NOUN
ajfa-1874	118	37	during	during	ADP
ajfa-1874	118	38	this	this	DET
ajfa-1874	118	39	period	period	NOUN
ajfa-1874	118	40	.	.	PUNCT
ajfa-1874	119	1	major	major	ADJ
ajfa-1874	119	2	regulatory	regulatory	ADJ
ajfa-1874	119	3	changes	change	NOUN
ajfa-1874	119	4	were	be	AUX
ajfa-1874	119	5	made	make	VERB
ajfa-1874	119	6	in	in	ADP
ajfa-1874	119	7	the	the	DET
ajfa-1874	119	8	light	light	NOUN
ajfa-1874	119	9	of	of	ADP
ajfa-1874	119	10	the	the	DET
ajfa-1874	119	11	scam	scam	NOUN
ajfa-1874	119	12	of	of	ADP
ajfa-1874	119	13	1992	1992	NUM
ajfa-1874	119	14	and	and	CCONJ
ajfa-1874	119	15	the	the	DET
ajfa-1874	119	16	information	information	NOUN
ajfa-1874	119	17	,	,	PUNCT
ajfa-1874	119	18	communication	communication	NOUN
ajfa-1874	119	19	,	,	PUNCT
ajfa-1874	119	20	and	and	CCONJ
ajfa-1874	119	21	entertainment	entertainment	NOUN
ajfa-1874	119	22	(	(	PUNCT
ajfa-1874	119	23	ice	ice	NOUN
ajfa-1874	119	24	)	)	PUNCT
ajfa-1874	119	25	meltdown	meltdown	NOUN
ajfa-1874	119	26	of	of	ADP
ajfa-1874	119	27	2001	2001	NUM
ajfa-1874	119	28	like	like	ADP
ajfa-1874	119	29	circuit	circuit	NOUN
ajfa-1874	119	30	filters	filter	NOUN
ajfa-1874	119	31	were	be	AUX
ajfa-1874	119	32	introduced	introduce	VERB
ajfa-1874	119	33	by	by	ADP
ajfa-1874	119	34	the	the	DET
ajfa-1874	119	35	nse	nse	NOUN
ajfa-1874	119	36	,	,	PUNCT
ajfa-1874	119	37	paperless	paperless	NOUN
ajfa-1874	119	38	trading	trading	NOUN
ajfa-1874	119	39	was	be	AUX
ajfa-1874	119	40	introduced	introduce	VERB
ajfa-1874	119	41	and	and	CCONJ
ajfa-1874	119	42	made	make	VERB
ajfa-1874	119	43	compulsory	compulsory	ADJ
ajfa-1874	119	44	,	,	PUNCT
ajfa-1874	119	45	rolling	rolling	ADJ
ajfa-1874	119	46	settlements	settlement	NOUN
ajfa-1874	119	47	were	be	AUX
ajfa-1874	119	48	introduced	introduce	VERB
ajfa-1874	119	49	in	in	ADP
ajfa-1874	119	50	a	a	DET
ajfa-1874	119	51	partial	partial	ADJ
ajfa-1874	119	52	manner	manner	NOUN
ajfa-1874	119	53	,	,	PUNCT
ajfa-1874	119	54	index	index	NOUN
ajfa-1874	119	55	based	base	VERB
ajfa-1874	119	56	futures	future	NOUN
ajfa-1874	119	57	were	be	AUX
ajfa-1874	119	58	introduced	introduce	VERB
ajfa-1874	119	59	,	,	PUNCT
ajfa-1874	119	60	carry	carry	VERB
ajfa-1874	119	61	forward	forward	ADV
ajfa-1874	119	62	of	of	ADP
ajfa-1874	119	63	trades	trade	NOUN
ajfa-1874	119	64	was	be	AUX
ajfa-1874	119	65	abolished	abolish	VERB
ajfa-1874	119	66	.	.	PUNCT
ajfa-1874	120	1	hence	hence	ADV
ajfa-1874	120	2	this	this	DET
ajfa-1874	120	3	period	period	NOUN
ajfa-1874	120	4	for	for	ADP
ajfa-1874	120	5	study	study	NOUN
ajfa-1874	120	6	is	be	AUX
ajfa-1874	120	7	quiet	quiet	ADJ
ajfa-1874	120	8	significant	significant	ADJ
ajfa-1874	120	9	owing	owe	VERB
ajfa-1874	120	10	to	to	ADP
ajfa-1874	120	11	these	these	DET
ajfa-1874	120	12	changes	change	NOUN
ajfa-1874	120	13	,	,	PUNCT
ajfa-1874	120	14	to	to	PART
ajfa-1874	120	15	have	have	VERB
ajfa-1874	120	16	a	a	DET
ajfa-1874	120	17	deep	deep	ADJ
ajfa-1874	120	18	understanding	understanding	NOUN
ajfa-1874	120	19	of	of	ADP
ajfa-1874	120	20	the	the	DET
ajfa-1874	120	21	volatility	volatility	NOUN
ajfa-1874	120	22	patterns	pattern	NOUN
ajfa-1874	120	23	.the	.the	PRON
ajfa-1874	120	24	daily	daily	ADJ
ajfa-1874	120	25	stock	stock	NOUN
ajfa-1874	120	26	price	price	NOUN
ajfa-1874	120	27	data	datum	NOUN
ajfa-1874	120	28	on	on	ADP
ajfa-1874	120	29	nifty	nifty	ADJ
ajfa-1874	120	30	have	have	AUX
ajfa-1874	120	31	been	be	AUX
ajfa-1874	120	32	taken	take	VERB
ajfa-1874	120	33	from	from	ADP
ajfa-1874	120	34	prowess	prowess	NOUN
ajfa-1874	120	35	,	,	PUNCT
ajfa-1874	120	36	the	the	DET
ajfa-1874	120	37	online	online	ADJ
ajfa-1874	120	38	database	database	NOUN
ajfa-1874	120	39	maintained	maintain	VERB
ajfa-1874	120	40	by	by	ADP
ajfa-1874	120	41	the	the	DET
ajfa-1874	120	42	centre	centre	NOUN
ajfa-1874	120	43	for	for	ADP
ajfa-1874	120	44	monitoring	monitoring	NOUN
ajfa-1874	120	45	of	of	ADP
ajfa-1874	120	46	indian	indian	ADJ
ajfa-1874	120	47	economy	economy	NOUN
ajfa-1874	120	48	(	(	PUNCT
ajfa-1874	120	49	cmie).cmie	cmie).cmie	PROPN
ajfa-1874	120	50	maintains	maintain	VERB
ajfa-1874	120	51	this	this	DET
ajfa-1874	120	52	database	database	NOUN
ajfa-1874	120	53	for	for	ADP
ajfa-1874	120	54	calculating	calculate	VERB
ajfa-1874	120	55	its	its	PRON
ajfa-1874	120	56	various	various	ADJ
ajfa-1874	120	57	indices	index	NOUN
ajfa-1874	120	58	.	.	PUNCT
ajfa-1874	121	1	the	the	DET
ajfa-1874	121	2	database	database	NOUN
ajfa-1874	121	3	contains	contain	VERB
ajfa-1874	121	4	all	all	DET
ajfa-1874	121	5	the	the	DET
ajfa-1874	121	6	actively	actively	ADV
ajfa-1874	121	7	traded	trade	VERB
ajfa-1874	121	8	stocks	stock	NOUN
ajfa-1874	121	9	at	at	ADP
ajfa-1874	121	10	any	any	DET
ajfa-1874	121	11	given	give	VERB
ajfa-1874	121	12	time	time	NOUN
ajfa-1874	121	13	on	on	ADP
ajfa-1874	121	14	the	the	DET
ajfa-1874	121	15	nse	nse	NOUN
ajfa-1874	121	16	.	.	PUNCT
ajfa-1874	122	1	daily	daily	PROPN
ajfa-1874	122	2	opening	opening	NOUN
ajfa-1874	122	3	,	,	PUNCT
ajfa-1874	122	4	high	high	ADJ
ajfa-1874	122	5	,	,	PUNCT
ajfa-1874	122	6	low	low	ADJ
ajfa-1874	122	7	,	,	PUNCT
ajfa-1874	122	8	and	and	CCONJ
ajfa-1874	122	9	closing	closing	NOUN
ajfa-1874	122	10	prices	price	NOUN
ajfa-1874	122	11	have	have	AUX
ajfa-1874	122	12	been	be	AUX
ajfa-1874	122	13	taken	take	VERB
ajfa-1874	122	14	for	for	ADP
ajfa-1874	122	15	nse	nse	NOUN
ajfa-1874	122	16	indices	index	NOUN
ajfa-1874	122	17	for	for	ADP
ajfa-1874	122	18	the	the	DET
ajfa-1874	122	19	period	period	NOUN
ajfa-1874	122	20	of	of	ADP
ajfa-1874	122	21	study	study	NOUN
ajfa-1874	122	22	.	.	PUNCT
ajfa-1874	123	1	these	these	DET
ajfa-1874	123	2	prices	price	NOUN
ajfa-1874	123	3	have	have	AUX
ajfa-1874	123	4	been	be	AUX
ajfa-1874	123	5	adjusted	adjust	VERB
ajfa-1874	123	6	for	for	ADP
ajfa-1874	123	7	bonus	bonus	NOUN
ajfa-1874	123	8	and	and	CCONJ
ajfa-1874	123	9	right	right	ADJ
ajfa-1874	123	10	issues	issue	NOUN
ajfa-1874	123	11	.	.	PUNCT
ajfa-1874	124	1	daily	daily	ADJ
ajfa-1874	124	2	stock	stock	NOUN
ajfa-1874	124	3	prices	price	NOUN
ajfa-1874	124	4	have	have	AUX
ajfa-1874	124	5	been	be	AUX
ajfa-1874	124	6	converted	convert	VERB
ajfa-1874	124	7	to	to	ADP
ajfa-1874	124	8	daily	daily	ADJ
ajfa-1874	124	9	returns	return	NOUN
ajfa-1874	124	10	.	.	PUNCT
ajfa-1874	125	1	the	the	DET
ajfa-1874	125	2	present	present	ADJ
ajfa-1874	125	3	study	study	NOUN
ajfa-1874	125	4	uses	use	VERB
ajfa-1874	125	5	the	the	DET
ajfa-1874	125	6	logarithmic	logarithmic	ADJ
ajfa-1874	125	7	difference	difference	NOUN
ajfa-1874	125	8	of	of	ADP
ajfa-1874	125	9	prices	price	NOUN
ajfa-1874	125	10	of	of	ADP
ajfa-1874	125	11	two	two	NUM
ajfa-1874	125	12	successive	successive	ADJ
ajfa-1874	125	13	periods	period	NOUN
ajfa-1874	125	14	for	for	ADP
ajfa-1874	125	15	the	the	DET
ajfa-1874	125	16	calculation	calculation	NOUN
ajfa-1874	125	17	of	of	ADP
ajfa-1874	125	18	rate	rate	NOUN
ajfa-1874	125	19	of	of	ADP
ajfa-1874	125	20	return	return	NOUN
ajfa-1874	125	21	.	.	PUNCT
ajfa-1874	126	1	the	the	DET
ajfa-1874	126	2	logarithmic	logarithmic	ADJ
ajfa-1874	126	3	difference	difference	NOUN
ajfa-1874	126	4	is	be	AUX
ajfa-1874	126	5	symmetric	symmetric	ADJ
ajfa-1874	126	6	between	between	ADP
ajfa-1874	126	7	up	up	ADP
ajfa-1874	126	8	and	and	CCONJ
ajfa-1874	126	9	down	down	ADJ
ajfa-1874	126	10	movements	movement	NOUN
ajfa-1874	126	11	and	and	CCONJ
ajfa-1874	126	12	is	be	AUX
ajfa-1874	126	13	expressed	express	VERB
ajfa-1874	126	14	in	in	ADP
ajfa-1874	126	15	percentage	percentage	NOUN
ajfa-1874	126	16	terms	term	NOUN
ajfa-1874	126	17	for	for	ADP
ajfa-1874	126	18	ease	ease	NOUN
ajfa-1874	126	19	of	of	ADP
ajfa-1874	126	20	comparability	comparability	NOUN
ajfa-1874	126	21	with	with	ADP
ajfa-1874	126	22	the	the	DET
ajfa-1874	126	23	straightforward	straightforward	ADJ
ajfa-1874	126	24	idea	idea	NOUN
ajfa-1874	126	25	of	of	ADP
ajfa-1874	126	26	a	a	DET
ajfa-1874	126	27	percentage	percentage	NOUN
ajfa-1874	126	28	change	change	NOUN
ajfa-1874	126	29	.	.	PUNCT
ajfa-1874	127	1	if	if	SCONJ
ajfa-1874	127	2	i	i	PRON
ajfa-1874	127	3	t	t	VERB
ajfa-1874	127	4	be	be	AUX
ajfa-1874	127	5	the	the	DET
ajfa-1874	127	6	closing	closing	NOUN
ajfa-1874	127	7	level	level	NOUN
ajfa-1874	127	8	of	of	ADP
ajfa-1874	127	9	nifty	nifty	ADJ
ajfa-1874	127	10	on	on	ADP
ajfa-1874	127	11	date	date	NOUN
ajfa-1874	127	12	t	t	PROPN
ajfa-1874	128	1	and	and	CCONJ
ajfa-1874	128	2	i	i	PRON
ajfa-1874	128	3	t-1	t-1	PROPN
ajfa-1874	128	4	be	be	VERB
ajfa-1874	128	5	the	the	DET
ajfa-1874	128	6	same	same	ADJ
ajfa-1874	128	7	for	for	ADP
ajfa-1874	128	8	its	its	PRON
ajfa-1874	128	9	previous	previous	ADJ
ajfa-1874	128	10	business	business	NOUN
ajfa-1874	128	11	day	day	NOUN
ajfa-1874	128	12	,	,	PUNCT
ajfa-1874	128	13	i.e.	i.e.	X
ajfa-1874	128	14	,	,	PUNCT
ajfa-1874	128	15	omitting	omit	VERB
ajfa-1874	128	16	intervening	intervene	VERB
ajfa-1874	128	17	weekend	weekend	NOUN
ajfa-1874	128	18	or	or	CCONJ
ajfa-1874	128	19	stock	stock	NOUN
ajfa-1874	128	20	exchange	exchange	NOUN
ajfa-1874	128	21	holidays	holiday	NOUN
ajfa-1874	128	22	,	,	PUNCT
ajfa-1874	128	23	then	then	ADV
ajfa-1874	128	24	the	the	DET
ajfa-1874	128	25	one	one	NUM
ajfa-1874	128	26	day	day	NOUN
ajfa-1874	128	27	return	return	NOUN
ajfa-1874	128	28	on	on	ADP
ajfa-1874	128	29	the	the	DET
ajfa-1874	128	30	market	market	NOUN
ajfa-1874	128	31	portfolio	portfolio	NOUN
ajfa-1874	128	32	is	be	AUX
ajfa-1874	128	33	calculated	calculate	VERB
ajfa-1874	128	34	as	as	ADP
ajfa-1874	128	35	:	:	PUNCT
ajfa-1874	128	36	rt	rt	PROPN
ajfa-1874	128	37	=	=	SYM
ajfa-1874	128	38	ln	ln	PROPN
ajfa-1874	128	39	(	(	PUNCT
ajfa-1874	128	40	i	i	PROPN
ajfa-1874	128	41	t	t	PROPN
ajfa-1874	128	42	/i	/i	PUNCT
ajfa-1874	128	43	t-1	t-1	PROPN
ajfa-1874	128	44	)	)	PUNCT
ajfa-1874	129	1	x100	x100	PROPN
ajfa-1874	129	2	where	where	SCONJ
ajfa-1874	129	3	,	,	PUNCT
ajfa-1874	129	4	ln	ln	X
ajfa-1874	129	5	(	(	PUNCT
ajfa-1874	129	6	z	z	NOUN
ajfa-1874	129	7	)	)	PUNCT
ajfa-1874	129	8	is	be	AUX
ajfa-1874	129	9	the	the	DET
ajfa-1874	129	10	natural	natural	ADJ
ajfa-1874	129	11	logarithm	logarithm	NOUN
ajfa-1874	129	12	of	of	ADP
ajfa-1874	129	13	‘	'	PUNCT
ajfa-1874	129	14	z.	z.	PROPN
ajfa-1874	129	15	’	'	PUNCT
ajfa-1874	129	16	3.1	3.1	NUM
ajfa-1874	129	17	econometric	econometric	ADJ
ajfa-1874	129	18	methodology	methodology	NOUN
ajfa-1874	129	19	given	give	VERB
ajfa-1874	129	20	the	the	DET
ajfa-1874	129	21	nature	nature	NOUN
ajfa-1874	129	22	of	of	ADP
ajfa-1874	129	23	the	the	DET
ajfa-1874	129	24	problem	problem	NOUN
ajfa-1874	129	25	and	and	CCONJ
ajfa-1874	129	26	the	the	DET
ajfa-1874	129	27	quantum	quantum	NOUN
ajfa-1874	129	28	of	of	ADP
ajfa-1874	129	29	data	datum	NOUN
ajfa-1874	129	30	,	,	PUNCT
ajfa-1874	129	31	we	we	PRON
ajfa-1874	129	32	first	first	ADV
ajfa-1874	129	33	study	study	VERB
ajfa-1874	129	34	the	the	DET
ajfa-1874	129	35	data	data	NOUN
ajfa-1874	129	36	properties	property	NOUN
ajfa-1874	129	37	from	from	ADP
ajfa-1874	129	38	an	an	DET
ajfa-1874	129	39	econometric	econometric	ADJ
ajfa-1874	129	40	perspective	perspective	NOUN
ajfa-1874	129	41	and	and	CCONJ
ajfa-1874	129	42	find	find	VERB
ajfa-1874	129	43	that	that	SCONJ
ajfa-1874	129	44	co	co	NOUN
ajfa-1874	129	45	-	-	NOUN
ajfa-1874	129	46	integration	integration	NOUN
ajfa-1874	129	47	and	and	CCONJ
ajfa-1874	129	48	error	error	NOUN
ajfa-1874	129	49	correction	correction	NOUN
ajfa-1874	129	50	models	model	NOUN
ajfa-1874	129	51	are	be	AUX
ajfa-1874	129	52	required	require	VERB
ajfa-1874	129	53	to	to	PART
ajfa-1874	129	54	establish	establish	VERB
ajfa-1874	129	55	the	the	DET
ajfa-1874	129	56	equilibrium	equilibrium	NOUN
ajfa-1874	129	57	relationship	relationship	NOUN
ajfa-1874	129	58	between	between	ADP
ajfa-1874	129	59	the	the	DET
ajfa-1874	129	60	markets	market	NOUN
ajfa-1874	129	61	.	.	PUNCT
ajfa-1874	130	1	further	far	ADV
ajfa-1874	130	2	,	,	PUNCT
ajfa-1874	130	3	to	to	PART
ajfa-1874	130	4	quantify	quantify	VERB
ajfa-1874	130	5	and	and	CCONJ
ajfa-1874	130	6	study	study	VERB
ajfa-1874	130	7	volatility	volatility	NOUN
ajfa-1874	130	8	spill	spill	NOUN
ajfa-1874	130	9	over	over	ADP
ajfa-1874	130	10	,	,	PUNCT
ajfa-1874	130	11	we	we	PRON
ajfa-1874	130	12	use	use	VERB
ajfa-1874	130	13	bivariate	bivariate	ADJ
ajfa-1874	130	14	egarch	egarch	NOUN
ajfa-1874	130	15	framework	framework	NOUN
ajfa-1874	130	16	which	which	PRON
ajfa-1874	130	17	is	be	AUX
ajfa-1874	130	18	covered	cover	VERB
ajfa-1874	130	19	in	in	ADP
ajfa-1874	130	20	the	the	DET
ajfa-1874	130	21	next	next	ADJ
ajfa-1874	130	22	section	section	NOUN
ajfa-1874	130	23	.	.	PUNCT
ajfa-1874	131	1	to	to	PART
ajfa-1874	131	2	test	test	VERB
ajfa-1874	131	3	the	the	DET
ajfa-1874	131	4	causality	causality	NOUN
ajfa-1874	131	5	block	block	NOUN
ajfa-1874	131	6	exogeneity	exogeneity	NOUN
ajfa-1874	131	7	test	test	NOUN
ajfa-1874	131	8	is	be	AUX
ajfa-1874	131	9	performed	perform	VERB
ajfa-1874	131	10	the	the	DET
ajfa-1874	131	11	results	result	NOUN
ajfa-1874	131	12	of	of	ADP
ajfa-1874	131	13	which	which	PRON
ajfa-1874	131	14	are	be	AUX
ajfa-1874	131	15	entailed	entail	VERB
ajfa-1874	131	16	in	in	ADP
ajfa-1874	131	17	result	result	NOUN
ajfa-1874	131	18	section	section	NOUN
ajfa-1874	131	19	.	.	PUNCT
ajfa-1874	132	1	the	the	DET
ajfa-1874	132	2	regression	regression	NOUN
ajfa-1874	132	3	analysis	analysis	NOUN
ajfa-1874	132	4	would	would	AUX
ajfa-1874	132	5	yield	yield	VERB
ajfa-1874	132	6	efficient	efficient	ADJ
ajfa-1874	132	7	and	and	CCONJ
ajfa-1874	132	8	time	time	NOUN
ajfa-1874	132	9	invariant	invariant	ADJ
ajfa-1874	132	10	estimates	estimate	NOUN
ajfa-1874	132	11	provided	provide	VERB
ajfa-1874	132	12	that	that	SCONJ
ajfa-1874	132	13	the	the	DET
ajfa-1874	132	14	variables	variable	NOUN
ajfa-1874	132	15	are	be	AUX
ajfa-1874	132	16	stationary	stationary	ADJ
ajfa-1874	132	17	over	over	ADP
ajfa-1874	132	18	time	time	NOUN
ajfa-1874	132	19	.	.	PUNCT
ajfa-1874	133	1	however	however	ADV
ajfa-1874	133	2	,	,	PUNCT
ajfa-1874	133	3	many	many	ADJ
ajfa-1874	133	4	financial	financial	ADJ
ajfa-1874	133	5	and	and	CCONJ
ajfa-1874	133	6	macroeconomic	macroeconomic	ADJ
ajfa-1874	133	7	time	time	NOUN
ajfa-1874	133	8	series	series	PROPN
ajfa-1874	133	9	behave	behave	VERB
ajfa-1874	133	10	like	like	INTJ
ajfa-1874	133	11	random	random	ADJ
ajfa-1874	133	12	walk	walk	NOUN
ajfa-1874	133	13	.	.	PUNCT
ajfa-1874	134	1	we	we	PRON
ajfa-1874	134	2	first	first	ADV
ajfa-1874	134	3	test	test	VERB
ajfa-1874	134	4	whether	whether	SCONJ
ajfa-1874	134	5	or	or	CCONJ
ajfa-1874	134	6	not	not	PART
ajfa-1874	134	7	the	the	DET
ajfa-1874	134	8	spot	spot	NOUN
ajfa-1874	134	9	and	and	CCONJ
ajfa-1874	134	10	futures	future	NOUN
ajfa-1874	134	11	price	price	NOUN
ajfa-1874	134	12	series	series	NOUN
ajfa-1874	134	13	are	be	AUX
ajfa-1874	134	14	co	co	ADJ
ajfa-1874	134	15	-	-	VERB
ajfa-1874	134	16	integrated	integrated	ADJ
ajfa-1874	134	17	.	.	PUNCT
ajfa-1874	135	1	the	the	DET
ajfa-1874	135	2	concept	concept	NOUN
ajfa-1874	135	3	of	of	ADP
ajfa-1874	135	4	co	co	NOUN
ajfa-1874	135	5	-	-	NOUN
ajfa-1874	135	6	integration	integration	NOUN
ajfa-1874	135	7	becomes	become	VERB
ajfa-1874	135	8	relevant	relevant	ADJ
ajfa-1874	135	9	when	when	SCONJ
ajfa-1874	135	10	the	the	DET
ajfa-1874	135	11	time	time	NOUN
ajfa-1874	135	12	series	series	NOUN
ajfa-1874	135	13	being	be	AUX
ajfa-1874	135	14	analysed	analyse	VERB
ajfa-1874	135	15	are	be	AUX
ajfa-1874	135	16	non	non	X
ajfa-1874	135	17	stationary	stationary	NOUN
ajfa-1874	135	18	.	.	PUNCT
ajfa-1874	136	1	the	the	DET
ajfa-1874	136	2	time	time	NOUN
ajfa-1874	136	3	series	series	PROPN
ajfa-1874	136	4	stationarity	stationarity	NOUN
ajfa-1874	136	5	of	of	ADP
ajfa-1874	136	6	sample	sample	NOUN
ajfa-1874	136	7	price	price	NOUN
ajfa-1874	136	8	series	series	NOUN
ajfa-1874	136	9	has	have	AUX
ajfa-1874	136	10	been	be	AUX
ajfa-1874	136	11	tested	test	VERB
ajfa-1874	136	12	using	use	VERB
ajfa-1874	136	13	augmented	augment	VERB
ajfa-1874	136	14	dickey	dickey	PROPN
ajfa-1874	136	15	fuller	full	ADJ
ajfa-1874	136	16	(	(	PUNCT
ajfa-1874	136	17	adf	adf	NOUN
ajfa-1874	136	18	)	)	PUNCT
ajfa-1874	136	19	1981	1981	NUM
ajfa-1874	136	20	.	.	PUNCT
ajfa-1874	137	1	the	the	DET
ajfa-1874	137	2	adf	adf	PROPN
ajfa-1874	137	3	test	test	NOUN
ajfa-1874	137	4	uses	use	VERB
ajfa-1874	137	5	the	the	DET
ajfa-1874	137	6	existence	existence	NOUN
ajfa-1874	137	7	of	of	ADP
ajfa-1874	137	8	a	a	DET
ajfa-1874	137	9	unit	unit	NOUN
ajfa-1874	137	10	root	root	NOUN
ajfa-1874	137	11	as	as	ADP
ajfa-1874	137	12	the	the	DET
ajfa-1874	137	13	null	null	ADJ
ajfa-1874	137	14	hypothesis	hypothesis	NOUN
ajfa-1874	137	15	.	.	PUNCT
ajfa-1874	138	1	to	to	PART
ajfa-1874	138	2	double	double	VERB
ajfa-1874	138	3	check	check	VERB
ajfa-1874	138	4	the	the	DET
ajfa-1874	138	5	robustness	robustness	NOUN
ajfa-1874	138	6	of	of	ADP
ajfa-1874	138	7	the	the	DET
ajfa-1874	138	8	results	result	NOUN
ajfa-1874	138	9	,	,	PUNCT
ajfa-1874	138	10	phillips	phillip	NOUN
ajfa-1874	138	11	and	and	CCONJ
ajfa-1874	138	12	perron	perron	PROPN
ajfa-1874	138	13	(	(	PUNCT
ajfa-1874	138	14	1988	1988	NUM
ajfa-1874	138	15	)	)	PUNCT
ajfa-1874	138	16	test	test	NOUN
ajfa-1874	138	17	of	of	ADP
ajfa-1874	138	18	stationarity	stationarity	NOUN
ajfa-1874	138	19	has	have	AUX
ajfa-1874	138	20	also	also	ADV
ajfa-1874	138	21	been	be	AUX
ajfa-1874	138	22	performed	perform	VERB
ajfa-1874	138	23	for	for	ADP
ajfa-1874	138	24	the	the	DET
ajfa-1874	138	25	series	series	NOUN
ajfa-1874	138	26	.	.	PUNCT
ajfa-1874	139	1	4	4	X
ajfa-1874	139	2	.	.	X
ajfa-1874	139	3	analysis	analysis	NOUN
ajfa-1874	139	4	and	and	CCONJ
ajfa-1874	139	5	interpretation	interpretation	NOUN
ajfa-1874	139	6	of	of	ADP
ajfa-1874	139	7	results	result	NOUN
ajfa-1874	139	8	4.1	4.1	NUM
ajfa-1874	139	9	lag	lag	NOUN
ajfa-1874	139	10	relationship	relationship	NOUN
ajfa-1874	139	11	of	of	ADP
ajfa-1874	139	12	fiis	fiis	NOUN
ajfa-1874	139	13	and	and	CCONJ
ajfa-1874	139	14	nifty	nifty	ADJ
ajfa-1874	139	15	(	(	PUNCT
ajfa-1874	139	16	information	information	NOUN
ajfa-1874	139	17	spillover	spillover	VERB
ajfa-1874	139	18	and	and	CCONJ
ajfa-1874	139	19	price	price	NOUN
ajfa-1874	139	20	discovery	discovery	NOUN
ajfa-1874	139	21	)	)	PUNCT
ajfa-1874	140	1	4.1.1	4.1.1	NUM
ajfa-1874	140	2	tests	test	NOUN
ajfa-1874	140	3	of	of	ADP
ajfa-1874	140	4	stationarity	stationarity	NOUN
ajfa-1874	140	5	the	the	DET
ajfa-1874	140	6	results	result	NOUN
ajfa-1874	140	7	of	of	ADP
ajfa-1874	140	8	stationarity	stationarity	NOUN
ajfa-1874	140	9	tests	test	NOUN
ajfa-1874	140	10	are	be	AUX
ajfa-1874	140	11	given	give	VERB
ajfa-1874	140	12	in	in	ADP
ajfa-1874	140	13	table	table	NOUN
ajfa-1874	140	14	1	1	NUM
ajfa-1874	140	15	.	.	PUNCT
ajfa-1874	141	1	it	it	PRON
ajfa-1874	141	2	confirms	confirm	VERB
ajfa-1874	141	3	non	non	ADJ
ajfa-1874	141	4	stationarity	stationarity	NOUN
ajfa-1874	141	5	of	of	ADP
ajfa-1874	141	6	nifty	nifty	ADJ
ajfa-1874	141	7	price	price	NOUN
ajfa-1874	141	8	data	datum	NOUN
ajfa-1874	141	9	&	&	CCONJ
ajfa-1874	141	10	fii	fii	PROPN
ajfa-1874	141	11	equity	equity	PROPN
ajfa-1874	141	12	investment	investment	NOUN
ajfa-1874	141	13	series	series	NOUN
ajfa-1874	141	14	;	;	PUNCT
ajfa-1874	141	15	hence	hence	ADV
ajfa-1874	141	16	we	we	PRON
ajfa-1874	141	17	repeat	repeat	VERB
ajfa-1874	141	18	stationarity	stationarity	NOUN
ajfa-1874	141	19	tests	test	NOUN
ajfa-1874	141	20	on	on	ADP
ajfa-1874	141	21	return	return	NOUN
ajfa-1874	141	22	series	series	PROPN
ajfa-1874	141	23	asian	asian	PROPN
ajfa-1874	141	24	journal	journal	PROPN
ajfa-1874	141	25	of	of	ADP
ajfa-1874	141	26	finance	finance	PROPN
ajfa-1874	141	27	&	&	CCONJ
ajfa-1874	141	28	accounting	accounting	PROPN
ajfa-1874	141	29	issn	issn	PROPN
ajfa-1874	141	30	1946	1946	NUM
ajfa-1874	141	31	-	-	PUNCT
ajfa-1874	141	32	052x	052x	NOUN
ajfa-1874	141	33	2012	2012	NUM
ajfa-1874	141	34	,	,	PUNCT
ajfa-1874	141	35	vol	vol	NOUN
ajfa-1874	141	36	.	.	PROPN
ajfa-1874	142	1	4	4	NUM
ajfa-1874	142	2	,	,	PUNCT
ajfa-1874	142	3	no	no	INTJ
ajfa-1874	142	4	.	.	NOUN
ajfa-1874	142	5	2	2	NUM
ajfa-1874	142	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-1874	142	7	27	27	NUM
ajfa-1874	142	8	(	(	PUNCT
ajfa-1874	142	9	estimated	estimate	VERB
ajfa-1874	142	10	as	as	ADP
ajfa-1874	142	11	first	first	ADJ
ajfa-1874	142	12	difference	difference	NOUN
ajfa-1874	142	13	of	of	ADP
ajfa-1874	142	14	log	log	NOUN
ajfa-1874	142	15	prices	price	NOUN
ajfa-1874	142	16	)	)	PUNCT
ajfa-1874	142	17	which	which	PRON
ajfa-1874	142	18	are	be	AUX
ajfa-1874	142	19	also	also	ADV
ajfa-1874	142	20	provided	provide	VERB
ajfa-1874	142	21	in	in	ADP
ajfa-1874	142	22	table	table	NOUN
ajfa-1874	142	23	1	1	NUM
ajfa-1874	142	24	.	.	PUNCT
ajfa-1874	143	1	the	the	DET
ajfa-1874	143	2	table	table	NOUN
ajfa-1874	143	3	describes	describe	VERB
ajfa-1874	143	4	the	the	DET
ajfa-1874	143	5	sample	sample	NOUN
ajfa-1874	143	6	price	price	NOUN
ajfa-1874	143	7	series	series	NOUN
ajfa-1874	143	8	that	that	PRON
ajfa-1874	143	9	have	have	AUX
ajfa-1874	143	10	been	be	AUX
ajfa-1874	143	11	tested	test	VERB
ajfa-1874	143	12	using	use	VERB
ajfa-1874	143	13	augmented	augment	VERB
ajfa-1874	143	14	dickey	dickey	PROPN
ajfa-1874	143	15	fuller	full	ADJ
ajfa-1874	143	16	(	(	PUNCT
ajfa-1874	143	17	adf	adf	NOUN
ajfa-1874	143	18	)	)	PUNCT
ajfa-1874	143	19	1981	1981	NUM
ajfa-1874	143	20	.	.	PUNCT
ajfa-1874	144	1	the	the	DET
ajfa-1874	144	2	adf	adf	PROPN
ajfa-1874	144	3	test	test	NOUN
ajfa-1874	144	4	uses	use	VERB
ajfa-1874	144	5	the	the	DET
ajfa-1874	144	6	existence	existence	NOUN
ajfa-1874	144	7	of	of	ADP
ajfa-1874	144	8	a	a	DET
ajfa-1874	144	9	unit	unit	NOUN
ajfa-1874	144	10	root	root	NOUN
ajfa-1874	144	11	as	as	ADP
ajfa-1874	144	12	the	the	DET
ajfa-1874	144	13	null	null	ADJ
ajfa-1874	144	14	hypothesis	hypothesis	NOUN
ajfa-1874	144	15	.	.	PUNCT
ajfa-1874	145	1	to	to	PART
ajfa-1874	145	2	double	double	VERB
ajfa-1874	145	3	check	check	VERB
ajfa-1874	145	4	the	the	DET
ajfa-1874	145	5	robustness	robustness	NOUN
ajfa-1874	145	6	of	of	ADP
ajfa-1874	145	7	the	the	DET
ajfa-1874	145	8	results	result	NOUN
ajfa-1874	145	9	,	,	PUNCT
ajfa-1874	145	10	phillips	phillip	NOUN
ajfa-1874	145	11	and	and	CCONJ
ajfa-1874	145	12	perron	perron	PROPN
ajfa-1874	145	13	(	(	PUNCT
ajfa-1874	145	14	1988	1988	NUM
ajfa-1874	145	15	)	)	PUNCT
ajfa-1874	145	16	test	test	NOUN
ajfa-1874	145	17	of	of	ADP
ajfa-1874	145	18	stationarity	stationarity	NOUN
ajfa-1874	145	19	has	have	AUX
ajfa-1874	145	20	also	also	ADV
ajfa-1874	145	21	been	be	AUX
ajfa-1874	145	22	performed	perform	VERB
ajfa-1874	145	23	for	for	ADP
ajfa-1874	145	24	the	the	DET
ajfa-1874	145	25	nifty	nifty	ADJ
ajfa-1874	145	26	closing	closing	NOUN
ajfa-1874	145	27	prices	price	NOUN
ajfa-1874	145	28	and	and	CCONJ
ajfa-1874	145	29	fii	fii	PROPN
ajfa-1874	145	30	equity	equity	NOUN
ajfa-1874	145	31	investment	investment	NOUN
ajfa-1874	145	32	and	and	CCONJ
ajfa-1874	145	33	then	then	ADV
ajfa-1874	145	34	both	both	CCONJ
ajfa-1874	145	35	the	the	DET
ajfa-1874	145	36	test	test	NOUN
ajfa-1874	145	37	are	be	AUX
ajfa-1874	145	38	performed	perform	VERB
ajfa-1874	145	39	on	on	ADP
ajfa-1874	145	40	return	return	NOUN
ajfa-1874	145	41	series	series	NOUN
ajfa-1874	145	42	also	also	ADV
ajfa-1874	145	43	as	as	SCONJ
ajfa-1874	145	44	shown	show	VERB
ajfa-1874	145	45	in	in	ADP
ajfa-1874	145	46	panel	panel	NOUN
ajfa-1874	145	47	-	-	PUNCT
ajfa-1874	145	48	a	a	DET
ajfa-1874	145	49	(	(	PUNCT
ajfa-1874	145	50	price	price	NOUN
ajfa-1874	145	51	series	series	NOUN
ajfa-1874	145	52	)	)	PUNCT
ajfa-1874	145	53	and	and	CCONJ
ajfa-1874	145	54	panel	panel	NOUN
ajfa-1874	145	55	b	b	PROPN
ajfa-1874	145	56	(	(	PUNCT
ajfa-1874	145	57	return	return	NOUN
ajfa-1874	145	58	series	series	NOUN
ajfa-1874	145	59	)	)	PUNCT
ajfa-1874	145	60	are	be	AUX
ajfa-1874	145	61	integrated	integrate	VERB
ajfa-1874	145	62	to	to	ADP
ajfa-1874	145	63	i	i	PRON
ajfa-1874	145	64	(	(	PUNCT
ajfa-1874	145	65	1	1	NUM
ajfa-1874	145	66	)	)	PUNCT
ajfa-1874	145	67	.	.	PUNCT
ajfa-1874	146	1	the	the	DET
ajfa-1874	146	2	sample	sample	NOUN
ajfa-1874	146	3	return	return	NOUN
ajfa-1874	146	4	series	series	NOUN
ajfa-1874	146	5	exhibit	exhibit	VERB
ajfa-1874	146	6	stationarity	stationarity	NOUN
ajfa-1874	146	7	thus	thus	ADV
ajfa-1874	146	8	conforming	conform	VERB
ajfa-1874	146	9	that	that	SCONJ
ajfa-1874	146	10	both	both	DET
ajfa-1874	146	11	variables	variable	NOUN
ajfa-1874	146	12	in	in	ADP
ajfa-1874	146	13	the	the	DET
ajfa-1874	146	14	sample	sample	NOUN
ajfa-1874	146	15	series	series	NOUN
ajfa-1874	146	16	are	be	AUX
ajfa-1874	146	17	integrated	integrate	VERB
ajfa-1874	146	18	to	to	ADP
ajfa-1874	146	19	the	the	DET
ajfa-1874	146	20	first	first	ADJ
ajfa-1874	146	21	order	order	NOUN
ajfa-1874	146	22	see	see	VERB
ajfa-1874	146	23	table	table	NOUN
ajfa-1874	146	24	1	1	NUM
ajfa-1874	146	25	4.1.2	4.1.2	NUM
ajfa-1874	146	26	tests	test	NOUN
ajfa-1874	146	27	of	of	ADP
ajfa-1874	146	28	cointegration	cointegration	NOUN
ajfa-1874	146	29	if	if	SCONJ
ajfa-1874	146	30	two	two	NUM
ajfa-1874	146	31	or	or	CCONJ
ajfa-1874	146	32	more	more	ADJ
ajfa-1874	146	33	series	serie	NOUN
ajfa-1874	146	34	are	be	AUX
ajfa-1874	146	35	themselves	themselves	PRON
ajfa-1874	146	36	non	non	ADJ
ajfa-1874	146	37	-	-	ADJ
ajfa-1874	146	38	stationary	stationary	ADJ
ajfa-1874	146	39	,	,	PUNCT
ajfa-1874	146	40	but	but	CCONJ
ajfa-1874	146	41	a	a	DET
ajfa-1874	146	42	linear	linear	ADJ
ajfa-1874	146	43	combination	combination	NOUN
ajfa-1874	146	44	of	of	ADP
ajfa-1874	146	45	them	they	PRON
ajfa-1874	146	46	is	be	AUX
ajfa-1874	146	47	stationary	stationary	ADJ
ajfa-1874	146	48	,	,	PUNCT
ajfa-1874	146	49	then	then	ADV
ajfa-1874	146	50	the	the	DET
ajfa-1874	146	51	series	series	NOUN
ajfa-1874	146	52	is	be	AUX
ajfa-1874	146	53	said	say	VERB
ajfa-1874	146	54	to	to	PART
ajfa-1874	146	55	be	be	AUX
ajfa-1874	146	56	co	co	VERB
ajfa-1874	146	57	-	-	VERB
ajfa-1874	146	58	integrated	integrated	ADJ
ajfa-1874	146	59	.	.	PUNCT
ajfa-1874	147	1	given	give	VERB
ajfa-1874	147	2	that	that	DET
ajfa-1874	147	3	sample	sample	NOUN
ajfa-1874	147	4	series	series	NOUN
ajfa-1874	147	5	are	be	AUX
ajfa-1874	147	6	integrated	integrate	VERB
ajfa-1874	147	7	of	of	ADP
ajfa-1874	147	8	the	the	DET
ajfa-1874	147	9	same	same	ADJ
ajfa-1874	147	10	order	order	NOUN
ajfa-1874	147	11	,	,	PUNCT
ajfa-1874	147	12	co	co	NOUN
ajfa-1874	147	13	-	-	NOUN
ajfa-1874	147	14	integration	integration	NOUN
ajfa-1874	147	15	techniques	technique	NOUN
ajfa-1874	147	16	are	be	AUX
ajfa-1874	147	17	used	use	VERB
ajfa-1874	147	18	to	to	PART
ajfa-1874	147	19	determine	determine	VERB
ajfa-1874	147	20	the	the	DET
ajfa-1874	147	21	existence	existence	NOUN
ajfa-1874	147	22	of	of	ADP
ajfa-1874	147	23	a	a	DET
ajfa-1874	147	24	stable	stable	ADJ
ajfa-1874	147	25	long	long	ADJ
ajfa-1874	147	26	-	-	PUNCT
ajfa-1874	147	27	run	run	NOUN
ajfa-1874	147	28	relationship	relationship	NOUN
ajfa-1874	147	29	between	between	ADP
ajfa-1874	147	30	the	the	DET
ajfa-1874	147	31	series	series	NOUN
ajfa-1874	147	32	.	.	PUNCT
ajfa-1874	148	1	arrival	arrival	NOUN
ajfa-1874	148	2	of	of	ADP
ajfa-1874	148	3	new	new	ADJ
ajfa-1874	148	4	information	information	NOUN
ajfa-1874	148	5	results	result	NOUN
ajfa-1874	148	6	in	in	ADP
ajfa-1874	148	7	lead	lead	NOUN
ajfa-1874	148	8	-	-	PUNCT
ajfa-1874	148	9	lag	lag	NOUN
ajfa-1874	148	10	,	,	PUNCT
ajfa-1874	148	11	causal	causal	ADJ
ajfa-1874	148	12	relationship	relationship	NOUN
ajfa-1874	148	13	for	for	ADP
ajfa-1874	148	14	short	short	ADJ
ajfa-1874	148	15	intervals	interval	NOUN
ajfa-1874	148	16	of	of	ADP
ajfa-1874	148	17	time	time	NOUN
ajfa-1874	148	18	between	between	ADP
ajfa-1874	148	19	them	they	PRON
ajfa-1874	148	20	due	due	ADP
ajfa-1874	148	21	to	to	ADP
ajfa-1874	148	22	communication	communication	NOUN
ajfa-1874	148	23	cost	cost	NOUN
ajfa-1874	148	24	.	.	PUNCT
ajfa-1874	149	1	the	the	DET
ajfa-1874	149	2	price	price	NOUN
ajfa-1874	149	3	linkage	linkage	NOUN
ajfa-1874	149	4	between	between	ADP
ajfa-1874	149	5	futures	future	NOUN
ajfa-1874	149	6	market	market	NOUN
ajfa-1874	149	7	and	and	CCONJ
ajfa-1874	149	8	spot	spot	NOUN
ajfa-1874	149	9	market	market	NOUN
ajfa-1874	149	10	is	be	AUX
ajfa-1874	149	11	examined	examine	VERB
ajfa-1874	149	12	using	use	VERB
ajfa-1874	149	13	cointegration	cointegration	NOUN
ajfa-1874	149	14	(	(	PUNCT
ajfa-1874	149	15	johansen	johansen	PROPN
ajfa-1874	149	16	,	,	PUNCT
ajfa-1874	149	17	1991	1991	NUM
ajfa-1874	149	18	)	)	PUNCT
ajfa-1874	149	19	analysis	analysis	NOUN
ajfa-1874	149	20	that	that	PRON
ajfa-1874	149	21	has	have	VERB
ajfa-1874	149	22	several	several	ADJ
ajfa-1874	149	23	advantages	advantage	NOUN
ajfa-1874	149	24	.	.	PUNCT
ajfa-1874	150	1	first	first	ADV
ajfa-1874	150	2	,	,	PUNCT
ajfa-1874	150	3	cointegration	cointegration	NOUN
ajfa-1874	150	4	analysis	analysis	NOUN
ajfa-1874	150	5	reveals	reveal	VERB
ajfa-1874	150	6	the	the	DET
ajfa-1874	150	7	extent	extent	NOUN
ajfa-1874	150	8	to	to	PART
ajfa-1874	150	9	which	which	PRON
ajfa-1874	150	10	two	two	NUM
ajfa-1874	150	11	markets	market	NOUN
ajfa-1874	150	12	have	have	AUX
ajfa-1874	150	13	moved	move	VERB
ajfa-1874	150	14	together	together	ADV
ajfa-1874	150	15	towards	towards	ADP
ajfa-1874	150	16	long	long	ADJ
ajfa-1874	150	17	run	run	NOUN
ajfa-1874	150	18	equilibrium	equilibrium	NOUN
ajfa-1874	150	19	.	.	PUNCT
ajfa-1874	151	1	secondly	secondly	ADV
ajfa-1874	151	2	,	,	PUNCT
ajfa-1874	151	3	it	it	PRON
ajfa-1874	151	4	allows	allow	VERB
ajfa-1874	151	5	for	for	ADP
ajfa-1874	151	6	divergence	divergence	NOUN
ajfa-1874	151	7	of	of	ADP
ajfa-1874	151	8	respective	respective	ADJ
ajfa-1874	151	9	markets	market	NOUN
ajfa-1874	151	10	from	from	ADP
ajfa-1874	151	11	long	long	ADV
ajfa-1874	151	12	-	-	PUNCT
ajfa-1874	151	13	run	run	NOUN
ajfa-1874	151	14	equilibrium	equilibrium	NOUN
ajfa-1874	151	15	in	in	ADP
ajfa-1874	151	16	the	the	DET
ajfa-1874	151	17	short	short	ADJ
ajfa-1874	151	18	run	run	NOUN
ajfa-1874	151	19	.	.	PUNCT
ajfa-1874	152	1	the	the	DET
ajfa-1874	152	2	co	co	X
ajfa-1874	152	3	-integrating	-integrate	VERB
ajfa-1874	152	4	vector	vector	NOUN
ajfa-1874	152	5	identify	identify	VERB
ajfa-1874	152	6	the	the	DET
ajfa-1874	152	7	existence	existence	NOUN
ajfa-1874	152	8	of	of	ADP
ajfa-1874	152	9	long	long	ADJ
ajfa-1874	152	10	run	run	NOUN
ajfa-1874	152	11	equilibrium	equilibrium	NOUN
ajfa-1874	152	12	while	while	SCONJ
ajfa-1874	152	13	error	error	NOUN
ajfa-1874	152	14	correction	correction	NOUN
ajfa-1874	152	15	dynamics	dynamic	NOUN
ajfa-1874	152	16	describes	describe	VERB
ajfa-1874	152	17	the	the	DET
ajfa-1874	152	18	price	price	NOUN
ajfa-1874	152	19	discovery	discovery	NOUN
ajfa-1874	152	20	process	process	NOUN
ajfa-1874	152	21	that	that	PRON
ajfa-1874	152	22	helps	help	VERB
ajfa-1874	152	23	the	the	DET
ajfa-1874	152	24	markets	market	NOUN
ajfa-1874	152	25	to	to	PART
ajfa-1874	152	26	achieve	achieve	VERB
ajfa-1874	152	27	equilibrium	equilibrium	NOUN
ajfa-1874	152	28	(	(	PUNCT
ajfa-1874	152	29	schreiber	schreiber	PROPN
ajfa-1874	152	30	and	and	CCONJ
ajfa-1874	152	31	schwartz	schwartz	PROPN
ajfa-1874	152	32	,	,	PUNCT
ajfa-1874	152	33	1986	1986	NUM
ajfa-1874	152	34	)	)	PUNCT
ajfa-1874	152	35	.	.	PUNCT
ajfa-1874	153	1	co	co	VERB
ajfa-1874	153	2	-	-	ADJ
ajfa-1874	153	3	integrating	integrating	ADJ
ajfa-1874	153	4	methodology	methodology	NOUN
ajfa-1874	153	5	fundamentally	fundamentally	ADV
ajfa-1874	153	6	proceeds	proceed	VERB
ajfa-1874	153	7	with	with	ADP
ajfa-1874	153	8	non	non	ADJ
ajfa-1874	153	9	-	-	ADJ
ajfa-1874	153	10	stationary	stationary	ADJ
ajfa-1874	153	11	nature	nature	NOUN
ajfa-1874	153	12	of	of	ADP
ajfa-1874	153	13	level	level	NOUN
ajfa-1874	153	14	series	series	NOUN
ajfa-1874	153	15	and	and	CCONJ
ajfa-1874	153	16	minimizes	minimize	VERB
ajfa-1874	153	17	the	the	DET
ajfa-1874	153	18	discrepancy	discrepancy	NOUN
ajfa-1874	153	19	that	that	PRON
ajfa-1874	153	20	arises	arise	VERB
ajfa-1874	153	21	from	from	ADP
ajfa-1874	153	22	the	the	DET
ajfa-1874	153	23	deviation	deviation	NOUN
ajfa-1874	153	24	of	of	ADP
ajfa-1874	153	25	long	long	ADJ
ajfa-1874	153	26	-	-	PUNCT
ajfa-1874	153	27	run	run	NOUN
ajfa-1874	153	28	equilibrium	equilibrium	NOUN
ajfa-1874	153	29	.	.	PUNCT
ajfa-1874	154	1	the	the	DET
ajfa-1874	154	2	observed	observe	VERB
ajfa-1874	154	3	deviations	deviation	NOUN
ajfa-1874	154	4	from	from	ADP
ajfa-1874	154	5	long	long	ADV
ajfa-1874	154	6	-	-	PUNCT
ajfa-1874	154	7	run	run	VERB
ajfa-1874	154	8	equilibrium	equilibrium	NOUN
ajfa-1874	154	9	are	be	AUX
ajfa-1874	154	10	not	not	PART
ajfa-1874	154	11	only	only	ADV
ajfa-1874	154	12	guided	guide	VERB
ajfa-1874	154	13	by	by	ADP
ajfa-1874	154	14	the	the	DET
ajfa-1874	154	15	stochastic	stochastic	ADJ
ajfa-1874	154	16	process	process	NOUN
ajfa-1874	154	17	and	and	CCONJ
ajfa-1874	154	18	random	random	ADJ
ajfa-1874	154	19	shocks	shock	NOUN
ajfa-1874	154	20	in	in	ADP
ajfa-1874	154	21	the	the	DET
ajfa-1874	154	22	system	system	NOUN
ajfa-1874	154	23	but	but	CCONJ
ajfa-1874	154	24	also	also	ADV
ajfa-1874	154	25	by	by	ADP
ajfa-1874	154	26	other	other	ADJ
ajfa-1874	154	27	forces	force	NOUN
ajfa-1874	154	28	like	like	ADP
ajfa-1874	154	29	arbitrage	arbitrage	NOUN
ajfa-1874	154	30	process	process	NOUN
ajfa-1874	154	31	.	.	PUNCT
ajfa-1874	155	1	as	as	ADP
ajfa-1874	155	2	a	a	DET
ajfa-1874	155	3	result	result	NOUN
ajfa-1874	155	4	,	,	PUNCT
ajfa-1874	155	5	the	the	DET
ajfa-1874	155	6	process	process	NOUN
ajfa-1874	155	7	of	of	ADP
ajfa-1874	155	8	arbitrage	arbitrage	NOUN
ajfa-1874	155	9	possesses	possess	VERB
ajfa-1874	155	10	dominant	dominant	ADJ
ajfa-1874	155	11	power	power	NOUN
ajfa-1874	155	12	in	in	ADP
ajfa-1874	155	13	the	the	DET
ajfa-1874	155	14	commodity	commodity	NOUN
ajfa-1874	155	15	future	future	ADJ
ajfa-1874	155	16	market	market	NOUN
ajfa-1874	155	17	to	to	PART
ajfa-1874	155	18	minimize	minimize	VERB
ajfa-1874	155	19	the	the	DET
ajfa-1874	155	20	very	very	ADJ
ajfa-1874	155	21	likelihood	likelihood	NOUN
ajfa-1874	155	22	of	of	ADP
ajfa-1874	155	23	the	the	DET
ajfa-1874	155	24	short	short	ADJ
ajfa-1874	155	25	run	run	NOUN
ajfa-1874	155	26	disequilibrium	disequilibrium	NOUN
ajfa-1874	155	27	.	.	PUNCT
ajfa-1874	156	1	moreover	moreover	ADV
ajfa-1874	156	2	,	,	PUNCT
ajfa-1874	156	3	it	it	PRON
ajfa-1874	156	4	is	be	AUX
ajfa-1874	156	5	theoretically	theoretically	ADV
ajfa-1874	156	6	claimed	claim	VERB
ajfa-1874	156	7	that	that	SCONJ
ajfa-1874	156	8	if	if	SCONJ
ajfa-1874	156	9	futures	future	NOUN
ajfa-1874	156	10	and	and	CCONJ
ajfa-1874	156	11	spot	spot	NOUN
ajfa-1874	156	12	price	price	NOUN
ajfa-1874	156	13	are	be	AUX
ajfa-1874	156	14	coinetgrated	coinetgrate	VERB
ajfa-1874	156	15	,	,	PUNCT
ajfa-1874	156	16	then	then	ADV
ajfa-1874	156	17	it	it	PRON
ajfa-1874	156	18	implies	imply	VERB
ajfa-1874	156	19	presence	presence	NOUN
ajfa-1874	156	20	of	of	ADP
ajfa-1874	156	21	causality	causality	NOUN
ajfa-1874	156	22	at	at	ADP
ajfa-1874	156	23	least	least	ADJ
ajfa-1874	156	24	in	in	ADP
ajfa-1874	156	25	one	one	NUM
ajfa-1874	156	26	direction	direction	NOUN
ajfa-1874	156	27	.	.	PUNCT
ajfa-1874	157	1	on	on	ADP
ajfa-1874	157	2	the	the	DET
ajfa-1874	157	3	other	other	ADJ
ajfa-1874	157	4	hand	hand	NOUN
ajfa-1874	157	5	,	,	PUNCT
ajfa-1874	157	6	if	if	SCONJ
ajfa-1874	157	7	some	some	DET
ajfa-1874	157	8	level	level	NOUN
ajfa-1874	157	9	series	series	NOUN
ajfa-1874	157	10	are	be	AUX
ajfa-1874	157	11	integrated	integrate	VERB
ajfa-1874	157	12	of	of	ADP
ajfa-1874	157	13	the	the	DET
ajfa-1874	157	14	same	same	ADJ
ajfa-1874	157	15	order	order	NOUN
ajfa-1874	157	16	,	,	PUNCT
ajfa-1874	157	17	it	it	PRON
ajfa-1874	157	18	does	do	AUX
ajfa-1874	157	19	not	not	PART
ajfa-1874	157	20	mean	mean	VERB
ajfa-1874	157	21	that	that	SCONJ
ajfa-1874	157	22	both	both	DET
ajfa-1874	157	23	level	level	NOUN
ajfa-1874	157	24	series	series	NOUN
ajfa-1874	157	25	are	be	AUX
ajfa-1874	157	26	coinetgrated	coinetgrate	VERB
ajfa-1874	157	27	.	.	PUNCT
ajfa-1874	158	1	cointegration	cointegration	NOUN
ajfa-1874	158	2	implies	imply	VERB
ajfa-1874	158	3	linear	linear	PROPN
ajfa-1874	158	4	combinations	combination	NOUN
ajfa-1874	158	5	of	of	ADP
ajfa-1874	158	6	both	both	DET
ajfa-1874	158	7	level	level	NOUN
ajfa-1874	158	8	series	series	NOUN
ajfa-1874	158	9	cancelling	cancel	VERB
ajfa-1874	158	10	the	the	DET
ajfa-1874	158	11	stochastic	stochastic	ADJ
ajfa-1874	158	12	trend	trend	NOUN
ajfa-1874	158	13	,	,	PUNCT
ajfa-1874	158	14	thereby	thereby	ADV
ajfa-1874	158	15	producing	produce	VERB
ajfa-1874	158	16	a	a	DET
ajfa-1874	158	17	stationary	stationary	ADJ
ajfa-1874	158	18	series	series	NOUN
ajfa-1874	158	19	.	.	PUNCT
ajfa-1874	159	1	johansen	johansen	PROPN
ajfa-1874	159	2	’s	’s	PART
ajfa-1874	159	3	cointegration	cointegration	NOUN
ajfa-1874	159	4	test	test	NOUN
ajfa-1874	159	5	is	be	AUX
ajfa-1874	159	6	more	more	ADV
ajfa-1874	159	7	sensitive	sensitive	ADJ
ajfa-1874	159	8	to	to	ADP
ajfa-1874	159	9	the	the	DET
ajfa-1874	159	10	lag	lag	NOUN
ajfa-1874	159	11	length	length	NOUN
ajfa-1874	159	12	employed	employ	VERB
ajfa-1874	159	13	.	.	PUNCT
ajfa-1874	160	1	besides	besides	ADV
ajfa-1874	160	2	,	,	PUNCT
ajfa-1874	160	3	inappropriate	inappropriate	ADJ
ajfa-1874	160	4	lag	lag	NOUN
ajfa-1874	160	5	length	length	NOUN
ajfa-1874	160	6	may	may	AUX
ajfa-1874	160	7	give	give	VERB
ajfa-1874	160	8	rise	rise	NOUN
ajfa-1874	160	9	to	to	ADP
ajfa-1874	160	10	problems	problem	NOUN
ajfa-1874	160	11	of	of	ADP
ajfa-1874	160	12	either	either	CCONJ
ajfa-1874	160	13	over	over	ADP
ajfa-1874	160	14	parameterization	parameterization	NOUN
ajfa-1874	160	15	or	or	CCONJ
ajfa-1874	160	16	underparametrisation	underparametrisation	NOUN
ajfa-1874	160	17	.	.	PUNCT
ajfa-1874	161	1	the	the	DET
ajfa-1874	161	2	objective	objective	NOUN
ajfa-1874	161	3	of	of	ADP
ajfa-1874	161	4	the	the	DET
ajfa-1874	161	5	estimation	estimation	NOUN
ajfa-1874	161	6	is	be	AUX
ajfa-1874	161	7	to	to	PART
ajfa-1874	161	8	ensure	ensure	VERB
ajfa-1874	161	9	that	that	SCONJ
ajfa-1874	161	10	there	there	PRON
ajfa-1874	161	11	is	be	VERB
ajfa-1874	161	12	no	no	DET
ajfa-1874	161	13	serial	serial	ADJ
ajfa-1874	161	14	correlation	correlation	NOUN
ajfa-1874	161	15	in	in	ADP
ajfa-1874	161	16	the	the	DET
ajfa-1874	161	17	residuals	residual	NOUN
ajfa-1874	161	18	.	.	PUNCT
ajfa-1874	162	1	here	here	ADV
ajfa-1874	162	2	,	,	PUNCT
ajfa-1874	162	3	akaike	akaike	ADP
ajfa-1874	162	4	information	information	NOUN
ajfa-1874	162	5	criterion	criterion	NOUN
ajfa-1874	162	6	(	(	PUNCT
ajfa-1874	162	7	aic	aic	PROPN
ajfa-1874	162	8	)	)	PUNCT
ajfa-1874	162	9	is	be	AUX
ajfa-1874	162	10	used	use	VERB
ajfa-1874	162	11	to	to	PART
ajfa-1874	162	12	select	select	VERB
ajfa-1874	162	13	the	the	DET
ajfa-1874	162	14	optimal	optimal	ADJ
ajfa-1874	162	15	lag	lag	NOUN
ajfa-1874	162	16	length	length	NOUN
ajfa-1874	162	17	and	and	CCONJ
ajfa-1874	162	18	all	all	DET
ajfa-1874	162	19	related	relate	VERB
ajfa-1874	162	20	calculations	calculation	NOUN
ajfa-1874	162	21	have	have	AUX
ajfa-1874	162	22	been	be	AUX
ajfa-1874	162	23	done	do	VERB
ajfa-1874	162	24	embedding	embed	VERB
ajfa-1874	162	25	that	that	DET
ajfa-1874	162	26	lag	lag	NOUN
ajfa-1874	162	27	length	length	NOUN
ajfa-1874	162	28	.	.	PUNCT
ajfa-1874	163	1	the	the	DET
ajfa-1874	163	2	cointegration	cointegration	NOUN
ajfa-1874	163	3	results	result	NOUN
ajfa-1874	163	4	are	be	AUX
ajfa-1874	163	5	reported	report	VERB
ajfa-1874	163	6	in	in	ADP
ajfa-1874	163	7	table	table	NOUN
ajfa-1874	163	8	2	2	NUM
ajfa-1874	163	9	.	.	X
ajfa-1874	163	10	maximal	maximal	ADJ
ajfa-1874	163	11	eigen	eigen	PROPN
ajfa-1874	163	12	value	value	NOUN
ajfa-1874	163	13	and	and	CCONJ
ajfa-1874	163	14	trace	trace	NOUN
ajfa-1874	163	15	test	test	NOUN
ajfa-1874	163	16	statistics	statistic	NOUN
ajfa-1874	163	17	are	be	AUX
ajfa-1874	163	18	used	use	VERB
ajfa-1874	163	19	to	to	PART
ajfa-1874	163	20	interpret	interpret	VERB
ajfa-1874	163	21	whether	whether	SCONJ
ajfa-1874	163	22	null	null	ADJ
ajfa-1874	163	23	hypothesis	hypothesis	NOUN
ajfa-1874	163	24	of	of	ADP
ajfa-1874	163	25	r	r	NOUN
ajfa-1874	163	26	=	=	NOUN
ajfa-1874	163	27	0	0	NUM
ajfa-1874	163	28	is	be	AUX
ajfa-1874	163	29	rejected	reject	VERB
ajfa-1874	163	30	at	at	ADP
ajfa-1874	163	31	5	5	NUM
ajfa-1874	163	32	%	%	NOUN
ajfa-1874	163	33	level	level	NOUN
ajfa-1874	163	34	and	and	CCONJ
ajfa-1874	163	35	not	not	PART
ajfa-1874	163	36	rejected	reject	VERB
ajfa-1874	163	37	when	when	SCONJ
ajfa-1874	163	38	r	r	NOUN
ajfa-1874	163	39	=	=	NOUN
ajfa-1874	163	40	1	1	NUM
ajfa-1874	163	41	.	.	PUNCT
ajfa-1874	164	1	rejection	rejection	NOUN
ajfa-1874	164	2	of	of	ADP
ajfa-1874	164	3	null	null	ADJ
ajfa-1874	164	4	hypothesis	hypothesis	NOUN
ajfa-1874	164	5	implies	imply	VERB
ajfa-1874	164	6	that	that	SCONJ
ajfa-1874	164	7	there	there	PRON
ajfa-1874	164	8	exists	exist	VERB
ajfa-1874	164	9	at	at	ADP
ajfa-1874	164	10	least	least	ADV
ajfa-1874	164	11	one	one	NUM
ajfa-1874	164	12	co	co	ADJ
ajfa-1874	164	13	-	-	ADJ
ajfa-1874	164	14	integrating	integrating	ADJ
ajfa-1874	164	15	vector	vector	NOUN
ajfa-1874	164	16	which	which	PRON
ajfa-1874	164	17	confirms	confirm	VERB
ajfa-1874	164	18	a	a	DET
ajfa-1874	164	19	long	long	ADJ
ajfa-1874	164	20	run	run	VERB
ajfa-1874	164	21	equilibrium	equilibrium	NOUN
ajfa-1874	164	22	asian	asian	ADJ
ajfa-1874	164	23	journal	journal	NOUN
ajfa-1874	164	24	of	of	ADP
ajfa-1874	164	25	finance	finance	PROPN
ajfa-1874	164	26	&	&	CCONJ
ajfa-1874	164	27	accounting	accounting	PROPN
ajfa-1874	164	28	issn	issn	PROPN
ajfa-1874	164	29	1946	1946	NUM
ajfa-1874	164	30	-	-	PUNCT
ajfa-1874	164	31	052x	052x	NOUN
ajfa-1874	164	32	2012	2012	NUM
ajfa-1874	164	33	,	,	PUNCT
ajfa-1874	164	34	vol	vol	NOUN
ajfa-1874	164	35	.	.	PROPN
ajfa-1874	164	36	4	4	NUM
ajfa-1874	164	37	,	,	PUNCT
ajfa-1874	164	38	no	no	INTJ
ajfa-1874	164	39	.	.	NOUN
ajfa-1874	164	40	2	2	NUM
ajfa-1874	164	41	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	164	42	28	28	NUM
ajfa-1874	164	43	relationship	relationship	NOUN
ajfa-1874	164	44	between	between	ADP
ajfa-1874	164	45	the	the	DET
ajfa-1874	164	46	two	two	NUM
ajfa-1874	164	47	variables	variable	NOUN
ajfa-1874	164	48	,	,	PUNCT
ajfa-1874	164	49	fii	fii	PROPN
ajfa-1874	164	50	equity	equity	NOUN
ajfa-1874	164	51	investment	investment	NOUN
ajfa-1874	164	52	and	and	CCONJ
ajfa-1874	164	53	nifty	nifty	ADJ
ajfa-1874	164	54	closing	closing	NOUN
ajfa-1874	164	55	prices	price	NOUN
ajfa-1874	164	56	in	in	ADP
ajfa-1874	164	57	our	our	PRON
ajfa-1874	164	58	case	case	NOUN
ajfa-1874	164	59	.	.	PUNCT
ajfa-1874	165	1	the	the	DET
ajfa-1874	165	2	null	null	ADJ
ajfa-1874	165	3	hypothesis	hypothesis	NOUN
ajfa-1874	165	4	is	be	AUX
ajfa-1874	165	5	rejected	reject	VERB
ajfa-1874	165	6	which	which	PRON
ajfa-1874	165	7	reveals	reveal	VERB
ajfa-1874	165	8	that	that	SCONJ
ajfa-1874	165	9	one	one	NUM
ajfa-1874	165	10	cointegration	cointegration	NOUN
ajfa-1874	165	11	relationship	relationship	NOUN
ajfa-1874	165	12	exists	exist	VERB
ajfa-1874	165	13	between	between	ADP
ajfa-1874	165	14	,	,	PUNCT
ajfa-1874	165	15	fii	fii	PROPN
ajfa-1874	165	16	equity	equity	NOUN
ajfa-1874	165	17	investment	investment	NOUN
ajfa-1874	165	18	and	and	CCONJ
ajfa-1874	165	19	nifty	nifty	ADJ
ajfa-1874	165	20	closing	closing	NOUN
ajfa-1874	165	21	prices	price	NOUN
ajfa-1874	165	22	,	,	PUNCT
ajfa-1874	165	23	thus	thus	ADV
ajfa-1874	165	24	they	they	PRON
ajfa-1874	165	25	share	share	VERB
ajfa-1874	165	26	a	a	DET
ajfa-1874	165	27	share	share	NOUN
ajfa-1874	165	28	common	common	ADJ
ajfa-1874	165	29	long	long	ADJ
ajfa-1874	165	30	-	-	PUNCT
ajfa-1874	165	31	run	run	NOUN
ajfa-1874	165	32	information	information	NOUN
ajfa-1874	165	33	.	.	PUNCT
ajfa-1874	166	1	despite	despite	SCONJ
ajfa-1874	166	2	determining	determine	VERB
ajfa-1874	166	3	a	a	DET
ajfa-1874	166	4	co	co	NOUN
ajfa-1874	166	5	integrating	integrate	VERB
ajfa-1874	166	6	vector	vector	NOUN
ajfa-1874	166	7	for	for	ADP
ajfa-1874	166	8	each	each	DET
ajfa-1874	166	9	commodity	commodity	NOUN
ajfa-1874	166	10	/index	/index	PRON
ajfa-1874	166	11	,	,	PUNCT
ajfa-1874	166	12	it	it	PRON
ajfa-1874	166	13	is	be	AUX
ajfa-1874	166	14	customary	customary	ADJ
ajfa-1874	166	15	to	to	PART
ajfa-1874	166	16	produce	produce	VERB
ajfa-1874	166	17	the	the	DET
ajfa-1874	166	18	diagnostic	diagnostic	ADJ
ajfa-1874	166	19	checking	checking	NOUN
ajfa-1874	166	20	criterions	criterion	NOUN
ajfa-1874	166	21	before	before	ADP
ajfa-1874	166	22	estimating	estimate	VERB
ajfa-1874	166	23	the	the	DET
ajfa-1874	166	24	ecm	ecm	PROPN
ajfa-1874	166	25	model	model	NOUN
ajfa-1874	166	26	.	.	PUNCT
ajfa-1874	167	1	diagnostic	diagnostic	ADJ
ajfa-1874	167	2	tests	test	NOUN
ajfa-1874	167	3	are	be	AUX
ajfa-1874	167	4	performed	perform	VERB
ajfa-1874	167	5	only	only	ADV
ajfa-1874	167	6	for	for	ADP
ajfa-1874	167	7	those	those	DET
ajfa-1874	167	8	series	series	NOUN
ajfa-1874	167	9	for	for	ADP
ajfa-1874	167	10	which	which	PRON
ajfa-1874	167	11	there	there	PRON
ajfa-1874	167	12	is	be	VERB
ajfa-1874	167	13	a	a	DET
ajfa-1874	167	14	long	long	ADJ
ajfa-1874	167	15	run	run	NOUN
ajfa-1874	167	16	relationship	relationship	NOUN
ajfa-1874	167	17	confirmed	confirm	VERB
ajfa-1874	167	18	by	by	ADP
ajfa-1874	167	19	johnson	johnson	PROPN
ajfa-1874	167	20	cointegration	cointegration	PROPN
ajfa-1874	167	21	test	test	NOUN
ajfa-1874	167	22	.	.	PUNCT
ajfa-1874	168	1	vector	vector	NOUN
ajfa-1874	168	2	auto	auto	NOUN
ajfa-1874	168	3	regression	regression	NOUN
ajfa-1874	168	4	(	(	PUNCT
ajfa-1874	168	5	var	var	NOUN
ajfa-1874	168	6	)	)	PUNCT
ajfa-1874	168	7	estimated	estimate	VERB
ajfa-1874	168	8	with	with	ADP
ajfa-1874	168	9	various	various	ADJ
ajfa-1874	168	10	lags	lag	NOUN
ajfa-1874	168	11	selected	select	VERB
ajfa-1874	168	12	by	by	ADP
ajfa-1874	168	13	aic	aic	PROPN
ajfa-1874	168	14	is	be	AUX
ajfa-1874	168	15	used	use	VERB
ajfa-1874	168	16	to	to	PART
ajfa-1874	168	17	check	check	VERB
ajfa-1874	168	18	whether	whether	SCONJ
ajfa-1874	168	19	the	the	DET
ajfa-1874	168	20	model	model	NOUN
ajfa-1874	168	21	satisfies	satisfy	VERB
ajfa-1874	168	22	the	the	DET
ajfa-1874	168	23	stability	stability	NOUN
ajfa-1874	168	24	,	,	PUNCT
ajfa-1874	168	25	normality	normality	NOUN
ajfa-1874	168	26	test	test	NOUN
ajfa-1874	168	27	as	as	ADV
ajfa-1874	168	28	well	well	ADV
ajfa-1874	168	29	as	as	ADP
ajfa-1874	168	30	no	no	DET
ajfa-1874	168	31	serial	serial	ADJ
ajfa-1874	168	32	correlation	correlation	NOUN
ajfa-1874	168	33	criterion	criterion	NOUN
ajfa-1874	168	34	among	among	ADP
ajfa-1874	168	35	the	the	DET
ajfa-1874	168	36	variables	variable	NOUN
ajfa-1874	168	37	in	in	ADP
ajfa-1874	168	38	the	the	DET
ajfa-1874	168	39	var	var	NOUN
ajfa-1874	168	40	adequacy	adequacy	NOUN
ajfa-1874	168	41	model	model	NOUN
ajfa-1874	168	42	.	.	PUNCT
ajfa-1874	169	1	testing	test	VERB
ajfa-1874	169	2	the	the	DET
ajfa-1874	169	3	var	var	NOUN
ajfa-1874	169	4	adequacy	adequacy	NOUN
ajfa-1874	169	5	of	of	ADP
ajfa-1874	169	6	the	the	DET
ajfa-1874	169	7	sample	sample	NOUN
ajfa-1874	169	8	series	series	NOUN
ajfa-1874	169	9	as	as	SCONJ
ajfa-1874	169	10	shown	show	VERB
ajfa-1874	169	11	in	in	ADP
ajfa-1874	169	12	table	table	NOUN
ajfa-1874	169	13	3	3	NUM
ajfa-1874	169	14	,	,	PUNCT
ajfa-1874	169	15	it	it	PRON
ajfa-1874	169	16	was	be	AUX
ajfa-1874	169	17	revealed	reveal	VERB
ajfa-1874	169	18	that	that	SCONJ
ajfa-1874	169	19	all	all	DET
ajfa-1874	169	20	the	the	DET
ajfa-1874	169	21	sample	sample	NOUN
ajfa-1874	169	22	series	series	NOUN
ajfa-1874	169	23	are	be	AUX
ajfa-1874	169	24	satisfying	satisfy	VERB
ajfa-1874	169	25	the	the	DET
ajfa-1874	169	26	stability	stability	NOUN
ajfa-1874	169	27	test	test	NOUN
ajfa-1874	169	28	.	.	PUNCT
ajfa-1874	170	1	in	in	ADP
ajfa-1874	170	2	normality	normality	NOUN
ajfa-1874	170	3	test	test	NOUN
ajfa-1874	170	4	all	all	DET
ajfa-1874	170	5	the	the	DET
ajfa-1874	170	6	sample	sample	NOUN
ajfa-1874	170	7	commodities	commodity	NOUN
ajfa-1874	170	8	are	be	AUX
ajfa-1874	170	9	found	find	VERB
ajfa-1874	170	10	to	to	PART
ajfa-1874	170	11	be	be	AUX
ajfa-1874	170	12	normal	normal	ADJ
ajfa-1874	170	13	.	.	PUNCT
ajfa-1874	171	1	in	in	ADP
ajfa-1874	171	2	verifying	verify	VERB
ajfa-1874	171	3	the	the	DET
ajfa-1874	171	4	var	var	NOUN
ajfa-1874	171	5	residual	residual	ADJ
ajfa-1874	171	6	serial	serial	ADJ
ajfa-1874	171	7	correlation	correlation	NOUN
ajfa-1874	171	8	lm	lm	INTJ
ajfa-1874	171	9	tests	test	NOUN
ajfa-1874	171	10	it	it	PRON
ajfa-1874	171	11	was	be	AUX
ajfa-1874	171	12	found	find	VERB
ajfa-1874	171	13	that	that	SCONJ
ajfa-1874	171	14	in	in	ADP
ajfa-1874	171	15	sample	sample	NOUN
ajfa-1874	171	16	series	series	NOUN
ajfa-1874	171	17	no	no	DET
ajfa-1874	171	18	serial	serial	ADJ
ajfa-1874	171	19	correlation	correlation	NOUN
ajfa-1874	171	20	was	be	AUX
ajfa-1874	171	21	present	present	ADJ
ajfa-1874	171	22	.	.	PUNCT
ajfa-1874	172	1	therefore	therefore	ADV
ajfa-1874	172	2	,	,	PUNCT
ajfa-1874	172	3	it	it	PRON
ajfa-1874	172	4	leads	lead	VERB
ajfa-1874	172	5	us	we	PRON
ajfa-1874	172	6	to	to	PART
ajfa-1874	172	7	take	take	VERB
ajfa-1874	172	8	the	the	DET
ajfa-1874	172	9	position	position	NOUN
ajfa-1874	172	10	that	that	PRON
ajfa-1874	172	11	our	our	PRON
ajfa-1874	172	12	model	model	NOUN
ajfa-1874	172	13	fulfils	fulfil	VERB
ajfa-1874	172	14	the	the	DET
ajfa-1874	172	15	adequacy	adequacy	NOUN
ajfa-1874	172	16	criterion	criterion	NOUN
ajfa-1874	172	17	for	for	ADP
ajfa-1874	172	18	sample	sample	NOUN
ajfa-1874	172	19	series	series	NOUN
ajfa-1874	172	20	which	which	PRON
ajfa-1874	172	21	exhibit	exhibit	VERB
ajfa-1874	172	22	a	a	DET
ajfa-1874	172	23	long	long	ADJ
ajfa-1874	172	24	run	run	NOUN
ajfa-1874	172	25	relationship	relationship	NOUN
ajfa-1874	172	26	between	between	ADP
ajfa-1874	172	27	the	the	DET
ajfa-1874	172	28	sample	sample	NOUN
ajfa-1874	172	29	series	series	NOUN
ajfa-1874	172	30	as	as	SCONJ
ajfa-1874	172	31	exhibited	exhibit	VERB
ajfa-1874	172	32	by	by	ADP
ajfa-1874	172	33	johansson	johansson	PROPN
ajfa-1874	172	34	cointegration	cointegration	PROPN
ajfa-1874	172	35	test	test	NOUN
ajfa-1874	172	36	.	.	PUNCT
ajfa-1874	173	1	the	the	DET
ajfa-1874	173	2	error	error	NOUN
ajfa-1874	173	3	correction	correction	NOUN
ajfa-1874	173	4	model	model	NOUN
ajfa-1874	173	5	takes	take	VERB
ajfa-1874	173	6	into	into	ADP
ajfa-1874	173	7	account	account	NOUN
ajfa-1874	173	8	the	the	DET
ajfa-1874	173	9	lag	lag	NOUN
ajfa-1874	173	10	terms	term	NOUN
ajfa-1874	173	11	in	in	ADP
ajfa-1874	173	12	the	the	DET
ajfa-1874	173	13	technical	technical	ADJ
ajfa-1874	173	14	equation	equation	NOUN
ajfa-1874	173	15	that	that	PRON
ajfa-1874	173	16	invites	invite	VERB
ajfa-1874	173	17	the	the	DET
ajfa-1874	173	18	short	short	ADJ
ajfa-1874	173	19	run	run	NOUN
ajfa-1874	173	20	adjustment	adjustment	NOUN
ajfa-1874	173	21	towards	towards	ADP
ajfa-1874	173	22	the	the	DET
ajfa-1874	173	23	long	long	ADJ
ajfa-1874	173	24	run	run	NOUN
ajfa-1874	173	25	.	.	PUNCT
ajfa-1874	174	1	this	this	PRON
ajfa-1874	174	2	is	be	AUX
ajfa-1874	174	3	the	the	DET
ajfa-1874	174	4	advantage	advantage	NOUN
ajfa-1874	174	5	of	of	ADP
ajfa-1874	174	6	the	the	DET
ajfa-1874	174	7	error	error	NOUN
ajfa-1874	174	8	correction	correction	NOUN
ajfa-1874	174	9	model	model	NOUN
ajfa-1874	174	10	in	in	ADP
ajfa-1874	174	11	evaluating	evaluate	VERB
ajfa-1874	174	12	price	price	NOUN
ajfa-1874	174	13	discovery	discovery	NOUN
ajfa-1874	174	14	.	.	PUNCT
ajfa-1874	175	1	the	the	DET
ajfa-1874	175	2	presence	presence	NOUN
ajfa-1874	175	3	of	of	ADP
ajfa-1874	175	4	error	error	NOUN
ajfa-1874	175	5	correction	correction	NOUN
ajfa-1874	175	6	dynamics	dynamic	NOUN
ajfa-1874	175	7	in	in	ADP
ajfa-1874	175	8	a	a	DET
ajfa-1874	175	9	particular	particular	ADJ
ajfa-1874	175	10	system	system	NOUN
ajfa-1874	175	11	confirms	confirm	VERB
ajfa-1874	175	12	the	the	DET
ajfa-1874	175	13	price	price	NOUN
ajfa-1874	175	14	discovery	discovery	NOUN
ajfa-1874	175	15	process	process	NOUN
ajfa-1874	175	16	that	that	PRON
ajfa-1874	175	17	enables	enable	VERB
ajfa-1874	175	18	the	the	DET
ajfa-1874	175	19	market	market	NOUN
ajfa-1874	175	20	to	to	PART
ajfa-1874	175	21	converge	converge	VERB
ajfa-1874	175	22	towards	towards	ADP
ajfa-1874	175	23	equilibrium	equilibrium	NOUN
ajfa-1874	175	24	.	.	PUNCT
ajfa-1874	176	1	in	in	ADP
ajfa-1874	176	2	addition	addition	NOUN
ajfa-1874	176	3	,	,	PUNCT
ajfa-1874	176	4	the	the	DET
ajfa-1874	176	5	model	model	NOUN
ajfa-1874	176	6	shows	show	VERB
ajfa-1874	176	7	not	not	PART
ajfa-1874	176	8	only	only	ADV
ajfa-1874	176	9	the	the	DET
ajfa-1874	176	10	degree	degree	NOUN
ajfa-1874	176	11	of	of	ADP
ajfa-1874	176	12	disequilibrium	disequilibrium	NOUN
ajfa-1874	176	13	from	from	ADP
ajfa-1874	176	14	one	one	NUM
ajfa-1874	176	15	period	period	NOUN
ajfa-1874	176	16	that	that	PRON
ajfa-1874	176	17	is	be	AUX
ajfa-1874	176	18	corrected	correct	VERB
ajfa-1874	176	19	in	in	ADP
ajfa-1874	176	20	the	the	DET
ajfa-1874	176	21	next	next	ADJ
ajfa-1874	176	22	,	,	PUNCT
ajfa-1874	176	23	but	but	CCONJ
ajfa-1874	176	24	also	also	ADV
ajfa-1874	176	25	the	the	DET
ajfa-1874	176	26	relative	relative	ADJ
ajfa-1874	176	27	magnitude	magnitude	NOUN
ajfa-1874	176	28	of	of	ADP
ajfa-1874	176	29	adjustment	adjustment	NOUN
ajfa-1874	176	30	that	that	PRON
ajfa-1874	176	31	occurs	occur	VERB
ajfa-1874	176	32	in	in	ADP
ajfa-1874	176	33	both	both	DET
ajfa-1874	176	34	markets	market	NOUN
ajfa-1874	176	35	in	in	ADP
ajfa-1874	176	36	achieving	achieve	VERB
ajfa-1874	176	37	equilibrium	equilibrium	NOUN
ajfa-1874	176	38	.	.	PUNCT
ajfa-1874	177	1	moreover	moreover	ADV
ajfa-1874	177	2	,	,	PUNCT
ajfa-1874	177	3	cointegration	cointegration	NOUN
ajfa-1874	177	4	analysis	analysis	NOUN
ajfa-1874	177	5	delivers	deliver	VERB
ajfa-1874	177	6	the	the	DET
ajfa-1874	177	7	message	message	NOUN
ajfa-1874	177	8	saying	say	VERB
ajfa-1874	177	9	how	how	SCONJ
ajfa-1874	177	10	two	two	NUM
ajfa-1874	177	11	markets	market	NOUN
ajfa-1874	177	12	(	(	PUNCT
ajfa-1874	177	13	such	such	ADJ
ajfa-1874	177	14	as	as	ADP
ajfa-1874	177	15	futures	future	NOUN
ajfa-1874	177	16	and	and	CCONJ
ajfa-1874	177	17	spot	spot	NOUN
ajfa-1874	177	18	commodity	commodity	NOUN
ajfa-1874	177	19	markets	market	NOUN
ajfa-1874	177	20	)	)	PUNCT
ajfa-1874	177	21	reveal	reveal	VERB
ajfa-1874	177	22	pricing	pricing	NOUN
ajfa-1874	177	23	information	information	NOUN
ajfa-1874	177	24	that	that	PRON
ajfa-1874	177	25	are	be	AUX
ajfa-1874	177	26	identified	identify	VERB
ajfa-1874	177	27	through	through	ADP
ajfa-1874	177	28	the	the	DET
ajfa-1874	177	29	price	price	NOUN
ajfa-1874	177	30	difference	difference	NOUN
ajfa-1874	177	31	between	between	ADP
ajfa-1874	177	32	the	the	DET
ajfa-1874	177	33	respective	respective	ADJ
ajfa-1874	177	34	markets	market	NOUN
ajfa-1874	177	35	.	.	PUNCT
ajfa-1874	178	1	the	the	DET
ajfa-1874	178	2	implication	implication	NOUN
ajfa-1874	178	3	of	of	ADP
ajfa-1874	178	4	cointegration	cointegration	NOUN
ajfa-1874	178	5	is	be	AUX
ajfa-1874	178	6	that	that	SCONJ
ajfa-1874	178	7	the	the	DET
ajfa-1874	178	8	commodities	commodity	NOUN
ajfa-1874	178	9	in	in	ADP
ajfa-1874	178	10	two	two	NUM
ajfa-1874	178	11	separate	separate	ADJ
ajfa-1874	178	12	markets	market	NOUN
ajfa-1874	178	13	respond	respond	VERB
ajfa-1874	178	14	disproportionately	disproportionately	ADV
ajfa-1874	178	15	to	to	ADP
ajfa-1874	178	16	the	the	DET
ajfa-1874	178	17	pricing	pricing	NOUN
ajfa-1874	178	18	information	information	NOUN
ajfa-1874	178	19	in	in	ADP
ajfa-1874	178	20	the	the	DET
ajfa-1874	178	21	short	short	ADJ
ajfa-1874	178	22	run	run	NOUN
ajfa-1874	178	23	,	,	PUNCT
ajfa-1874	178	24	but	but	CCONJ
ajfa-1874	178	25	they	they	PRON
ajfa-1874	178	26	converge	converge	VERB
ajfa-1874	178	27	to	to	ADP
ajfa-1874	178	28	equilibrium	equilibrium	NOUN
ajfa-1874	178	29	in	in	ADP
ajfa-1874	178	30	the	the	DET
ajfa-1874	178	31	long	long	ADJ
ajfa-1874	178	32	run	run	NOUN
ajfa-1874	178	33	under	under	ADP
ajfa-1874	178	34	the	the	DET
ajfa-1874	178	35	condition	condition	NOUN
ajfa-1874	178	36	that	that	SCONJ
ajfa-1874	178	37	both	both	DET
ajfa-1874	178	38	markets	market	NOUN
ajfa-1874	178	39	are	be	AUX
ajfa-1874	178	40	innovative	innovative	ADJ
ajfa-1874	178	41	and	and	CCONJ
ajfa-1874	178	42	efficient	efficient	ADJ
ajfa-1874	178	43	.	.	PUNCT
ajfa-1874	179	1	in	in	ADP
ajfa-1874	179	2	other	other	ADJ
ajfa-1874	179	3	words	word	NOUN
ajfa-1874	179	4	,	,	PUNCT
ajfa-1874	179	5	the	the	DET
ajfa-1874	179	6	root	root	NOUN
ajfa-1874	179	7	cause	cause	NOUN
ajfa-1874	179	8	of	of	ADP
ajfa-1874	179	9	disproportionate	disproportionate	ADJ
ajfa-1874	179	10	response	response	NOUN
ajfa-1874	179	11	to	to	ADP
ajfa-1874	179	12	the	the	DET
ajfa-1874	179	13	market	market	NOUN
ajfa-1874	179	14	information	information	NOUN
ajfa-1874	179	15	is	be	AUX
ajfa-1874	179	16	that	that	SCONJ
ajfa-1874	179	17	a	a	DET
ajfa-1874	179	18	particular	particular	ADJ
ajfa-1874	179	19	market	market	NOUN
ajfa-1874	179	20	is	be	AUX
ajfa-1874	179	21	not	not	PART
ajfa-1874	179	22	dynamic	dynamic	ADJ
ajfa-1874	179	23	in	in	ADP
ajfa-1874	179	24	terms	term	NOUN
ajfa-1874	179	25	of	of	ADP
ajfa-1874	179	26	accessing	access	VERB
ajfa-1874	179	27	the	the	DET
ajfa-1874	179	28	new	new	ADJ
ajfa-1874	179	29	flow	flow	NOUN
ajfa-1874	179	30	of	of	ADP
ajfa-1874	179	31	information	information	NOUN
ajfa-1874	179	32	and	and	CCONJ
ajfa-1874	179	33	adopting	adopt	VERB
ajfa-1874	179	34	better	well	ADJ
ajfa-1874	179	35	technology	technology	NOUN
ajfa-1874	179	36	.	.	PUNCT
ajfa-1874	180	1	therefore	therefore	ADV
ajfa-1874	180	2	,	,	PUNCT
ajfa-1874	180	3	there	there	PRON
ajfa-1874	180	4	is	be	VERB
ajfa-1874	180	5	a	a	DET
ajfa-1874	180	6	consensus	consensus	NOUN
ajfa-1874	180	7	that	that	SCONJ
ajfa-1874	180	8	price	price	NOUN
ajfa-1874	180	9	change	change	NOUN
ajfa-1874	180	10	in	in	ADP
ajfa-1874	180	11	one	one	NUM
ajfa-1874	180	12	market	market	NOUN
ajfa-1874	180	13	generates	generate	VERB
ajfa-1874	180	14	price	price	NOUN
ajfa-1874	180	15	change	change	NOUN
ajfa-1874	180	16	in	in	ADP
ajfa-1874	180	17	the	the	DET
ajfa-1874	180	18	other	other	ADJ
ajfa-1874	180	19	market	market	NOUN
ajfa-1874	180	20	with	with	ADP
ajfa-1874	180	21	a	a	DET
ajfa-1874	180	22	view	view	NOUN
ajfa-1874	180	23	to	to	PART
ajfa-1874	180	24	bring	bring	VERB
ajfa-1874	180	25	a	a	DET
ajfa-1874	180	26	long	long	ADJ
ajfa-1874	180	27	run	run	NOUN
ajfa-1874	180	28	equilibrium	equilibrium	NOUN
ajfa-1874	180	29	relation	relation	NOUN
ajfa-1874	180	30	is	be	AUX
ajfa-1874	180	31	:	:	PUNCT
ajfa-1874	180	32	ttt	ttt	PROPN
ajfa-1874	180	33	sf	sf	PROPN
ajfa-1874	180	34			PROPN
ajfa-1874	180	35			PROPN
ajfa-1874	180	36	(	(	PUNCT
ajfa-1874	180	37	1	1	X
ajfa-1874	180	38	)	)	PUNCT
ajfa-1874	180	39	equation	equation	NOUN
ajfa-1874	180	40	(	(	PUNCT
ajfa-1874	180	41	1	1	X
ajfa-1874	180	42	)	)	PUNCT
ajfa-1874	180	43	can	can	AUX
ajfa-1874	180	44	be	be	AUX
ajfa-1874	180	45	expressed	express	VERB
ajfa-1874	180	46	as	as	ADP
ajfa-1874	180	47	in	in	ADP
ajfa-1874	180	48	the	the	DET
ajfa-1874	180	49	residual	residual	ADJ
ajfa-1874	180	50	form	form	NOUN
ajfa-1874	180	51	as	as	ADP
ajfa-1874	180	52	:	:	PUNCT
ajfa-1874	180	53	ệ	ệ	X
ajfa-1874	180	54	ftst	ftst	PROPN
ajfa-1874	180	55			PROPN
ajfa-1874	180	56	ệ	ệ	ADP
ajfa-1874	180	57	t	t	PROPN
ajfa-1874	180	58	(	(	PUNCT
ajfa-1874	180	59	2	2	NUM
ajfa-1874	180	60	)	)	PUNCT
ajfa-1874	180	61	in	in	ADP
ajfa-1874	180	62	the	the	DET
ajfa-1874	180	63	above	above	ADJ
ajfa-1874	180	64	equations	equation	NOUN
ajfa-1874	180	65	ft	ft	PROPN
ajfa-1874	180	66	and	and	CCONJ
ajfa-1874	180	67	st	st	PROPN
ajfa-1874	180	68	are	be	AUX
ajfa-1874	180	69	fii	fii	PROPN
ajfa-1874	180	70	and	and	CCONJ
ajfa-1874	180	71	stock	stock	NOUN
ajfa-1874	180	72	prices	price	NOUN
ajfa-1874	180	73	of	of	ADP
ajfa-1874	180	74	a	a	DET
ajfa-1874	180	75	commodity	commodity	NOUN
ajfa-1874	180	76	in	in	ADP
ajfa-1874	180	77	the	the	DET
ajfa-1874	180	78	respective	respective	ADJ
ajfa-1874	180	79	market	market	NOUN
ajfa-1874	180	80	at	at	ADP
ajfa-1874	180	81	time	time	NOUN
ajfa-1874	180	82	t.	t.	PROPN
ajfa-1874	180	83	both	both	DET
ajfa-1874	180	84	α	α	PROPN
ajfa-1874	180	85	and	and	CCONJ
ajfa-1874	180	86	β	β	X
ajfa-1874	180	87	are	be	AUX
ajfa-1874	180	88	intercept	intercept	NOUN
ajfa-1874	180	89	and	and	CCONJ
ajfa-1874	180	90	coefficient	coefficient	ADJ
ajfa-1874	180	91	terms	term	NOUN
ajfa-1874	180	92	,	,	PUNCT
ajfa-1874	180	93	where	where	SCONJ
ajfa-1874	180	94	as	as	SCONJ
ajfa-1874	180	95	ệt	ệt	NOUN
ajfa-1874	180	96	is	be	AUX
ajfa-1874	180	97	estimated	estimate	VERB
ajfa-1874	180	98	white	white	ADJ
ajfa-1874	180	99	noise	noise	NOUN
ajfa-1874	180	100	disturbance	disturbance	NOUN
ajfa-1874	180	101	term	term	NOUN
ajfa-1874	180	102	.	.	PUNCT
ajfa-1874	181	1	the	the	DET
ajfa-1874	181	2	main	main	ADJ
ajfa-1874	181	3	advantage	advantage	NOUN
ajfa-1874	181	4	of	of	ADP
ajfa-1874	181	5	cointegration	cointegration	NOUN
ajfa-1874	181	6	is	be	AUX
ajfa-1874	181	7	that	that	SCONJ
ajfa-1874	181	8	each	each	DET
ajfa-1874	181	9	series	series	NOUN
ajfa-1874	181	10	can	can	AUX
ajfa-1874	181	11	be	be	AUX
ajfa-1874	181	12	asian	asian	ADJ
ajfa-1874	181	13	journal	journal	NOUN
ajfa-1874	181	14	of	of	ADP
ajfa-1874	181	15	finance	finance	PROPN
ajfa-1874	181	16	&	&	CCONJ
ajfa-1874	181	17	accounting	accounting	PROPN
ajfa-1874	181	18	issn	issn	PROPN
ajfa-1874	181	19	1946	1946	NUM
ajfa-1874	181	20	-	-	PUNCT
ajfa-1874	181	21	052x	052x	NOUN
ajfa-1874	181	22	2012	2012	NUM
ajfa-1874	181	23	,	,	PUNCT
ajfa-1874	181	24	vol	vol	NOUN
ajfa-1874	181	25	.	.	PROPN
ajfa-1874	181	26	4	4	NUM
ajfa-1874	181	27	,	,	PUNCT
ajfa-1874	181	28	no	no	INTJ
ajfa-1874	181	29	.	.	NOUN
ajfa-1874	181	30	2	2	NUM
ajfa-1874	181	31	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-1874	181	32	29	29	NUM
ajfa-1874	181	33	represented	represent	VERB
ajfa-1874	181	34	by	by	ADP
ajfa-1874	181	35	an	an	DET
ajfa-1874	181	36	error	error	NOUN
ajfa-1874	181	37	correction	correction	NOUN
ajfa-1874	181	38	model	model	NOUN
ajfa-1874	181	39	which	which	PRON
ajfa-1874	181	40	includes	include	VERB
ajfa-1874	181	41	last	last	ADJ
ajfa-1874	181	42	period	period	NOUN
ajfa-1874	181	43	’s	’s	PART
ajfa-1874	181	44	equilibrium	equilibrium	NOUN
ajfa-1874	181	45	error	error	NOUN
ajfa-1874	181	46	with	with	ADP
ajfa-1874	181	47	adding	add	VERB
ajfa-1874	181	48	intercept	intercept	NOUN
ajfa-1874	181	49	term	term	NOUN
ajfa-1874	181	50	as	as	ADV
ajfa-1874	181	51	well	well	ADV
ajfa-1874	181	52	as	as	ADP
ajfa-1874	181	53	lagged	lag	VERB
ajfa-1874	181	54	values	value	NOUN
ajfa-1874	181	55	of	of	ADP
ajfa-1874	181	56	first	first	ADJ
ajfa-1874	181	57	difference	difference	NOUN
ajfa-1874	181	58	of	of	ADP
ajfa-1874	181	59	each	each	DET
ajfa-1874	181	60	variable	variable	NOUN
ajfa-1874	181	61	.	.	PUNCT
ajfa-1874	182	1	therefore	therefore	ADV
ajfa-1874	182	2	,	,	PUNCT
ajfa-1874	182	3	casual	casual	ADJ
ajfa-1874	182	4	relationship	relationship	NOUN
ajfa-1874	182	5	can	can	AUX
ajfa-1874	182	6	be	be	AUX
ajfa-1874	182	7	gauged	gauge	VERB
ajfa-1874	182	8	by	by	ADP
ajfa-1874	182	9	examining	examine	VERB
ajfa-1874	182	10	the	the	DET
ajfa-1874	182	11	statistical	statistical	ADJ
ajfa-1874	182	12	significance	significance	NOUN
ajfa-1874	182	13	and	and	CCONJ
ajfa-1874	182	14	relative	relative	ADJ
ajfa-1874	182	15	magnitude	magnitude	NOUN
ajfa-1874	182	16	of	of	ADP
ajfa-1874	182	17	the	the	DET
ajfa-1874	182	18	error	error	NOUN
ajfa-1874	182	19	correction	correction	NOUN
ajfa-1874	182	20	coefficient	coefficient	NOUN
ajfa-1874	182	21	and	and	CCONJ
ajfa-1874	182	22	coefficient	coefficient	NOUN
ajfa-1874	182	23	on	on	ADP
ajfa-1874	182	24	lagged	lag	VERB
ajfa-1874	182	25	variable	variable	NOUN
ajfa-1874	182	26	.	.	PUNCT
ajfa-1874	183	1	hence	hence	ADV
ajfa-1874	183	2	,	,	PUNCT
ajfa-1874	183	3	the	the	DET
ajfa-1874	183	4	error	error	NOUN
ajfa-1874	183	5	correction	correction	NOUN
ajfa-1874	183	6	model	model	NOUN
ajfa-1874	183	7	is	be	AUX
ajfa-1874	183	8	:	:	PUNCT
ajfa-1874	183	9	fttftftfft	fttftftfft	NOUN
ajfa-1874	183	10	syfef	syfef	VERB
ajfa-1874	183	11			NOUN
ajfa-1874	183	12			NOUN
ajfa-1874	183	13			NUM
ajfa-1874	183	14	11	11	NUM
ajfa-1874	183	15	^	^	SYM
ajfa-1874	183	16	1	1	NUM
ajfa-1874	183	17	(	(	PUNCT
ajfa-1874	183	18	3	3	NUM
ajfa-1874	183	19	)	)	PUNCT
ajfa-1874	183	20	sttftftsst	sttftftsst	NOUN
ajfa-1874	183	21	fyses	fyse	NOUN
ajfa-1874	183	22			NOUN
ajfa-1874	183	23			NOUN
ajfa-1874	183	24			NUM
ajfa-1874	183	25	11	11	NUM
ajfa-1874	183	26	^	^	SYM
ajfa-1874	183	27	1	1	NUM
ajfa-1874	183	28	(	(	PUNCT
ajfa-1874	183	29	4	4	NUM
ajfa-1874	183	30	)	)	PUNCT
ajfa-1874	183	31	in	in	ADP
ajfa-1874	183	32	the	the	DET
ajfa-1874	183	33	above	above	ADJ
ajfa-1874	183	34	two	two	NUM
ajfa-1874	183	35	equations	equation	NOUN
ajfa-1874	183	36	,	,	PUNCT
ajfa-1874	183	37	the	the	DET
ajfa-1874	183	38	first	first	ADJ
ajfa-1874	183	39	part	part	NOUN
ajfa-1874	183	40	et1	et1	NOUN
ajfa-1874	183	41	^	^	PUNCT
ajfa-1874	183	42	is	be	AUX
ajfa-1874	183	43	the	the	DET
ajfa-1874	183	44	equilibrium	equilibrium	NOUN
ajfa-1874	183	45	error	error	NOUN
ajfa-1874	183	46	which	which	PRON
ajfa-1874	183	47	measures	measure	VERB
ajfa-1874	183	48	how	how	SCONJ
ajfa-1874	183	49	the	the	DET
ajfa-1874	183	50	dependent	dependent	ADJ
ajfa-1874	183	51	variable	variable	NOUN
ajfa-1874	183	52	in	in	ADP
ajfa-1874	183	53	one	one	NUM
ajfa-1874	183	54	equation	equation	NOUN
ajfa-1874	183	55	adjusts	adjust	VERB
ajfa-1874	183	56	to	to	ADP
ajfa-1874	183	57	the	the	DET
ajfa-1874	183	58	previous	previous	ADJ
ajfa-1874	183	59	period	period	NOUN
ajfa-1874	183	60	’s	’s	PART
ajfa-1874	183	61	deviation	deviation	NOUN
ajfa-1874	183	62	that	that	PRON
ajfa-1874	183	63	arises	arise	VERB
ajfa-1874	183	64	from	from	ADP
ajfa-1874	183	65	long	long	ADJ
ajfa-1874	183	66	run	run	NOUN
ajfa-1874	183	67	equilibrium	equilibrium	NOUN
ajfa-1874	183	68	.	.	PUNCT
ajfa-1874	184	1	the	the	DET
ajfa-1874	184	2	remaining	remain	VERB
ajfa-1874	184	3	part	part	NOUN
ajfa-1874	184	4	of	of	ADP
ajfa-1874	184	5	the	the	DET
ajfa-1874	184	6	equation	equation	NOUN
ajfa-1874	184	7	is	be	AUX
ajfa-1874	184	8	lagged	lag	VERB
ajfa-1874	184	9	first	first	ADJ
ajfa-1874	184	10	difference	difference	NOUN
ajfa-1874	184	11	which	which	PRON
ajfa-1874	184	12	represents	represent	VERB
ajfa-1874	184	13	the	the	DET
ajfa-1874	184	14	short	short	ADJ
ajfa-1874	184	15	run	run	NOUN
ajfa-1874	184	16	effect	effect	NOUN
ajfa-1874	184	17	of	of	ADP
ajfa-1874	184	18	previous	previous	ADJ
ajfa-1874	184	19	period	period	NOUN
ajfa-1874	184	20	’s	’s	PART
ajfa-1874	184	21	change	change	NOUN
ajfa-1874	184	22	in	in	ADP
ajfa-1874	184	23	price	price	NOUN
ajfa-1874	184	24	on	on	ADP
ajfa-1874	184	25	current	current	ADJ
ajfa-1874	184	26	period	period	NOUN
ajfa-1874	184	27	’s	’s	PART
ajfa-1874	184	28	deviation	deviation	NOUN
ajfa-1874	184	29	.	.	PUNCT
ajfa-1874	185	1	the	the	DET
ajfa-1874	185	2	coefficients	coefficient	NOUN
ajfa-1874	185	3	of	of	ADP
ajfa-1874	185	4	the	the	DET
ajfa-1874	185	5	equilibrium	equilibrium	NOUN
ajfa-1874	185	6	error	error	NOUN
ajfa-1874	185	7	,	,	PUNCT
ajfa-1874	185	8	αf	αf	VERB
ajfa-1874	185	9	and	and	CCONJ
ajfa-1874	185	10	αs	αs	AUX
ajfa-1874	185	11	signify	signify	VERB
ajfa-1874	185	12	the	the	DET
ajfa-1874	185	13	speed	speed	NOUN
ajfa-1874	185	14	of	of	ADP
ajfa-1874	185	15	adjustment	adjustment	NOUN
ajfa-1874	185	16	coefficients	coefficient	NOUN
ajfa-1874	185	17	in	in	ADP
ajfa-1874	185	18	fii	fii	PROPN
ajfa-1874	185	19	equity	equity	NOUN
ajfa-1874	185	20	investment	investment	NOUN
ajfa-1874	185	21	and	and	CCONJ
ajfa-1874	185	22	nifty	nifty	ADJ
ajfa-1874	185	23	closing	closing	NOUN
ajfa-1874	185	24	prices	price	NOUN
ajfa-1874	185	25	that	that	PRON
ajfa-1874	185	26	claim	claim	VERB
ajfa-1874	185	27	significant	significant	ADJ
ajfa-1874	185	28	implication	implication	NOUN
ajfa-1874	185	29	in	in	ADP
ajfa-1874	185	30	an	an	DET
ajfa-1874	185	31	error	error	NOUN
ajfa-1874	185	32	correction	correction	NOUN
ajfa-1874	185	33	model	model	NOUN
ajfa-1874	185	34	.	.	PUNCT
ajfa-1874	186	1	at	at	ADV
ajfa-1874	186	2	least	least	ADV
ajfa-1874	186	3	one	one	NUM
ajfa-1874	186	4	coefficient	coefficient	NOUN
ajfa-1874	186	5	must	must	AUX
ajfa-1874	186	6	be	be	AUX
ajfa-1874	186	7	non	non	ADJ
ajfa-1874	186	8	zero	zero	NUM
ajfa-1874	186	9	for	for	SCONJ
ajfa-1874	186	10	the	the	DET
ajfa-1874	186	11	model	model	NOUN
ajfa-1874	186	12	to	to	PART
ajfa-1874	186	13	be	be	AUX
ajfa-1874	186	14	an	an	DET
ajfa-1874	186	15	error	error	NOUN
ajfa-1874	186	16	correction	correction	NOUN
ajfa-1874	186	17	model	model	NOUN
ajfa-1874	186	18	(	(	PUNCT
ajfa-1874	186	19	ecm	ecm	PROPN
ajfa-1874	186	20	)	)	PUNCT
ajfa-1874	186	21	.	.	PUNCT
ajfa-1874	187	1	the	the	DET
ajfa-1874	187	2	coefficient	coefficient	NOUN
ajfa-1874	187	3	acts	act	VERB
ajfa-1874	187	4	as	as	ADP
ajfa-1874	187	5	an	an	DET
ajfa-1874	187	6	evidence	evidence	NOUN
ajfa-1874	187	7	of	of	ADP
ajfa-1874	187	8	direction	direction	NOUN
ajfa-1874	187	9	of	of	ADP
ajfa-1874	187	10	casual	casual	ADJ
ajfa-1874	187	11	relation	relation	NOUN
ajfa-1874	187	12	and	and	CCONJ
ajfa-1874	187	13	reveals	reveal	VERB
ajfa-1874	187	14	the	the	DET
ajfa-1874	187	15	speed	speed	NOUN
ajfa-1874	187	16	at	at	ADP
ajfa-1874	187	17	which	which	DET
ajfa-1874	187	18	discrepancy	discrepancy	NOUN
ajfa-1874	187	19	from	from	ADP
ajfa-1874	187	20	equilibrium	equilibrium	NOUN
ajfa-1874	187	21	is	be	AUX
ajfa-1874	187	22	corrected	correct	VERB
ajfa-1874	187	23	or	or	CCONJ
ajfa-1874	187	24	minimized	minimize	VERB
ajfa-1874	187	25	.	.	PUNCT
ajfa-1874	188	1	if	if	SCONJ
ajfa-1874	188	2	,	,	PUNCT
ajfa-1874	188	3	αf	αf	NOUN
ajfa-1874	188	4	is	be	AUX
ajfa-1874	188	5	statistically	statistically	ADV
ajfa-1874	188	6	insignificant	insignificant	ADJ
ajfa-1874	188	7	,	,	PUNCT
ajfa-1874	188	8	the	the	DET
ajfa-1874	188	9	current	current	ADJ
ajfa-1874	188	10	period	period	NOUN
ajfa-1874	188	11	’s	’s	PART
ajfa-1874	188	12	change	change	NOUN
ajfa-1874	188	13	in	in	ADP
ajfa-1874	188	14	fii	fii	PROPN
ajfa-1874	188	15	investment	investment	NOUN
ajfa-1874	188	16	pattern	pattern	NOUN
ajfa-1874	188	17	does	do	AUX
ajfa-1874	188	18	not	not	PART
ajfa-1874	188	19	respond	respond	VERB
ajfa-1874	188	20	to	to	ADP
ajfa-1874	188	21	last	last	ADJ
ajfa-1874	188	22	period	period	NOUN
ajfa-1874	188	23	’s	’s	PART
ajfa-1874	188	24	deviation	deviation	NOUN
ajfa-1874	188	25	from	from	ADP
ajfa-1874	188	26	long	long	ADJ
ajfa-1874	188	27	run	run	NOUN
ajfa-1874	188	28	equilibrium	equilibrium	NOUN
ajfa-1874	188	29	.	.	PUNCT
ajfa-1874	189	1	if	if	SCONJ
ajfa-1874	189	2	both	both	PRON
ajfa-1874	189	3	,	,	PUNCT
ajfa-1874	189	4	αf	αf	VERB
ajfa-1874	189	5	and	and	CCONJ
ajfa-1874	189	6	βf	βf	CCONJ
ajfa-1874	189	7	are	be	AUX
ajfa-1874	189	8	statistically	statistically	ADV
ajfa-1874	189	9	insignificant	insignificant	ADJ
ajfa-1874	189	10	;	;	PUNCT
ajfa-1874	189	11	the	the	DET
ajfa-1874	189	12	closing	close	VERB
ajfa-1874	189	13	stock	stock	NOUN
ajfa-1874	189	14	price	price	NOUN
ajfa-1874	189	15	does	do	AUX
ajfa-1874	189	16	not	not	PART
ajfa-1874	189	17	granger	granger	AUX
ajfa-1874	189	18	cause	cause	VERB
ajfa-1874	189	19	fiis	fiis	NOUN
ajfa-1874	189	20	.	.	PUNCT
ajfa-1874	190	1	the	the	DET
ajfa-1874	190	2	justification	justification	NOUN
ajfa-1874	190	3	of	of	ADP
ajfa-1874	190	4	estimating	estimate	VERB
ajfa-1874	190	5	ecm	ecm	NOUN
ajfa-1874	190	6	is	be	AUX
ajfa-1874	190	7	to	to	PART
ajfa-1874	190	8	know	know	VERB
ajfa-1874	190	9	which	which	DET
ajfa-1874	190	10	sample	sample	NOUN
ajfa-1874	190	11	markets	market	NOUN
ajfa-1874	190	12	play	play	VERB
ajfa-1874	190	13	a	a	DET
ajfa-1874	190	14	crucial	crucial	ADJ
ajfa-1874	190	15	role	role	NOUN
ajfa-1874	190	16	in	in	ADP
ajfa-1874	190	17	lead	lead	NOUN
ajfa-1874	190	18	-	-	PUNCT
ajfa-1874	190	19	lag	lag	NOUN
ajfa-1874	190	20	relationship	relationship	NOUN
ajfa-1874	190	21	and	and	CCONJ
ajfa-1874	190	22	information	information	NOUN
ajfa-1874	190	23	flow	flow	NOUN
ajfa-1874	190	24	.	.	PUNCT
ajfa-1874	191	1	the	the	DET
ajfa-1874	191	2	vecm	vecm	NOUN
ajfa-1874	191	3	results	result	NOUN
ajfa-1874	191	4	are	be	AUX
ajfa-1874	191	5	reported	report	VERB
ajfa-1874	191	6	in	in	ADP
ajfa-1874	191	7	table	table	NOUN
ajfa-1874	191	8	iv	iv	NOUN
ajfa-1874	191	9	.	.	PUNCT
ajfa-1874	192	1	it	it	PRON
ajfa-1874	192	2	shows	show	VERB
ajfa-1874	192	3	that	that	SCONJ
ajfa-1874	192	4	short	short	ADJ
ajfa-1874	192	5	run	run	NOUN
ajfa-1874	192	6	dynamics	dynamic	NOUN
ajfa-1874	192	7	in	in	ADP
ajfa-1874	192	8	the	the	DET
ajfa-1874	192	9	price	price	NOUN
ajfa-1874	192	10	series	series	NOUN
ajfa-1874	192	11	and	and	CCONJ
ajfa-1874	192	12	price	price	NOUN
ajfa-1874	192	13	movements	movement	NOUN
ajfa-1874	192	14	in	in	ADP
ajfa-1874	192	15	the	the	DET
ajfa-1874	192	16	two	two	NUM
ajfa-1874	192	17	markets	market	NOUN
ajfa-1874	192	18	.	.	PUNCT
ajfa-1874	193	1	the	the	DET
ajfa-1874	193	2	lag	lag	NOUN
ajfa-1874	193	3	length	length	NOUN
ajfa-1874	193	4	of	of	ADP
ajfa-1874	193	5	the	the	DET
ajfa-1874	193	6	series	series	NOUN
ajfa-1874	193	7	is	be	AUX
ajfa-1874	193	8	selected	select	VERB
ajfa-1874	193	9	in	in	ADP
ajfa-1874	193	10	vector	vector	NOUN
ajfa-1874	193	11	error	error	NOUN
ajfa-1874	193	12	correction	correction	NOUN
ajfa-1874	193	13	model	model	NOUN
ajfa-1874	193	14	(	(	PUNCT
ajfa-1874	193	15	vecm	vecm	NOUN
ajfa-1874	193	16	)	)	PUNCT
ajfa-1874	193	17	on	on	ADP
ajfa-1874	193	18	the	the	DET
ajfa-1874	193	19	basis	basis	NOUN
ajfa-1874	193	20	of	of	ADP
ajfa-1874	193	21	akaike	akaike	PROPN
ajfa-1874	193	22	’s	’s	PART
ajfa-1874	193	23	information	information	NOUN
ajfa-1874	193	24	criteria	criterion	NOUN
ajfa-1874	193	25	.	.	PUNCT
ajfa-1874	194	1	the	the	DET
ajfa-1874	194	2	residual	residual	ADJ
ajfa-1874	194	3	diagnostics	diagnostic	NOUN
ajfa-1874	194	4	tests	test	NOUN
ajfa-1874	194	5	;	;	PUNCT
ajfa-1874	194	6	indicate	indicate	VERB
ajfa-1874	194	7	existence	existence	NOUN
ajfa-1874	194	8	of	of	ADP
ajfa-1874	194	9	heteroscedasticity	heteroscedasticity	NOUN
ajfa-1874	194	10	,	,	PUNCT
ajfa-1874	194	11	in	in	ADP
ajfa-1874	194	12	the	the	DET
ajfa-1874	194	13	sample	sample	NOUN
ajfa-1874	194	14	series	series	NOUN
ajfa-1874	194	15	which	which	PRON
ajfa-1874	194	16	exhibit	exhibit	VERB
ajfa-1874	194	17	cointegration	cointegration	NOUN
ajfa-1874	194	18	.	.	PUNCT
ajfa-1874	195	1	thus	thus	ADV
ajfa-1874	195	2	,	,	PUNCT
ajfa-1874	195	3	t	t	PROPN
ajfa-1874	195	4	-	-	PUNCT
ajfa-1874	195	5	statistics	statistic	NOUN
ajfa-1874	195	6	are	be	AUX
ajfa-1874	195	7	adjusted	adjust	VERB
ajfa-1874	195	8	,	,	PUNCT
ajfa-1874	195	9	as	as	ADV
ajfa-1874	195	10	well	well	ADV
ajfa-1874	195	11	as	as	ADP
ajfa-1874	195	12	the	the	DET
ajfa-1874	195	13	wald	wald	PROPN
ajfa-1874	195	14	test	test	NOUN
ajfa-1874	195	15	statistics	statistic	NOUN
ajfa-1874	195	16	which	which	PRON
ajfa-1874	195	17	are	be	AUX
ajfa-1874	195	18	employed	employ	VERB
ajfa-1874	195	19	to	to	PART
ajfa-1874	195	20	test	test	VERB
ajfa-1874	195	21	for	for	ADP
ajfa-1874	195	22	granger	granger	PROPN
ajfa-1874	195	23	causality	causality	PROPN
ajfa-1874	195	24	,	,	PUNCT
ajfa-1874	195	25	by	by	ADP
ajfa-1874	195	26	the	the	DET
ajfa-1874	195	27	white	white	ADJ
ajfa-1874	195	28	(	(	PUNCT
ajfa-1874	195	29	1980	1980	NUM
ajfa-1874	195	30	)	)	PUNCT
ajfa-1874	195	31	heteroscedasticity	heteroscedasticity	NOUN
ajfa-1874	195	32	correction	correction	NOUN
ajfa-1874	195	33	.	.	PUNCT
ajfa-1874	196	1	after	after	ADP
ajfa-1874	196	2	correction	correction	NOUN
ajfa-1874	196	3	,	,	PUNCT
ajfa-1874	196	4	we	we	PRON
ajfa-1874	196	5	reestimate	reestimate	VERB
ajfa-1874	196	6	vecm	vecm	NOUN
ajfa-1874	196	7	and	and	CCONJ
ajfa-1874	196	8	from	from	ADP
ajfa-1874	196	9	empirical	empirical	ADJ
ajfa-1874	196	10	results	result	NOUN
ajfa-1874	196	11	and	and	CCONJ
ajfa-1874	196	12	it	it	PRON
ajfa-1874	196	13	is	be	AUX
ajfa-1874	196	14	noticed	notice	VERB
ajfa-1874	196	15	that	that	SCONJ
ajfa-1874	196	16	in	in	ADP
ajfa-1874	196	17	the	the	DET
ajfa-1874	196	18	vecm	vecm	NOUN
ajfa-1874	196	19	model	model	NOUN
ajfa-1874	196	20	,	,	PUNCT
ajfa-1874	196	21	error	error	NOUN
ajfa-1874	196	22	correction	correction	NOUN
ajfa-1874	196	23	coefficients	coefficient	NOUN
ajfa-1874	196	24	are	be	AUX
ajfa-1874	196	25	significant	significant	ADJ
ajfa-1874	196	26	in	in	ADP
ajfa-1874	196	27	both	both	DET
ajfa-1874	196	28	equations	equation	NOUN
ajfa-1874	196	29	(	(	PUNCT
ajfa-1874	196	30	1	1	NUM
ajfa-1874	196	31	)	)	PUNCT
ajfa-1874	196	32	and	and	CCONJ
ajfa-1874	196	33	(	(	PUNCT
ajfa-1874	196	34	2	2	X
ajfa-1874	196	35	)	)	PUNCT
ajfa-1874	196	36	with	with	ADP
ajfa-1874	196	37	correct	correct	ADJ
ajfa-1874	196	38	signs	sign	NOUN
ajfa-1874	196	39	,	,	PUNCT
ajfa-1874	196	40	suggesting	suggest	VERB
ajfa-1874	196	41	a	a	DET
ajfa-1874	196	42	bidirectional	bidirectional	ADJ
ajfa-1874	196	43	error	error	NOUN
ajfa-1874	196	44	correction	correction	NOUN
ajfa-1874	196	45	in	in	ADP
ajfa-1874	196	46	sample	sample	NOUN
ajfa-1874	196	47	series	series	NOUN
ajfa-1874	196	48	.	.	PUNCT
ajfa-1874	197	1	error	error	NOUN
ajfa-1874	197	2	correction	correction	NOUN
ajfa-1874	197	3	terms	term	NOUN
ajfa-1874	197	4	(	(	PUNCT
ajfa-1874	197	5	ects	ect	NOUN
ajfa-1874	197	6	)	)	PUNCT
ajfa-1874	197	7	also	also	ADV
ajfa-1874	197	8	known	know	VERB
ajfa-1874	197	9	as	as	ADP
ajfa-1874	197	10	meanreverting	meanreverting	ADJ
ajfa-1874	197	11	price	price	NOUN
ajfa-1874	197	12	process	process	NOUN
ajfa-1874	197	13	,	,	PUNCT
ajfa-1874	197	14	provide	provide	VERB
ajfa-1874	197	15	some	some	DET
ajfa-1874	197	16	insights	insight	NOUN
ajfa-1874	197	17	into	into	ADP
ajfa-1874	197	18	the	the	DET
ajfa-1874	197	19	adjustment	adjustment	NOUN
ajfa-1874	197	20	process	process	NOUN
ajfa-1874	197	21	of	of	ADP
ajfa-1874	197	22	spot	spot	NOUN
ajfa-1874	197	23	and	and	CCONJ
ajfa-1874	197	24	future	future	ADJ
ajfa-1874	197	25	prices	price	NOUN
ajfa-1874	197	26	towards	towards	ADP
ajfa-1874	197	27	long	long	ADJ
ajfa-1874	197	28	run	run	NOUN
ajfa-1874	197	29	equilibrium	equilibrium	NOUN
ajfa-1874	197	30	.	.	PUNCT
ajfa-1874	198	1	for	for	ADP
ajfa-1874	198	2	the	the	DET
ajfa-1874	198	3	entire	entire	ADJ
ajfa-1874	198	4	period	period	NOUN
ajfa-1874	198	5	,	,	PUNCT
ajfa-1874	198	6	coefficients	coefficient	NOUN
ajfa-1874	198	7	of	of	ADP
ajfa-1874	198	8	the	the	DET
ajfa-1874	198	9	ects	ect	NOUN
ajfa-1874	198	10	are	be	AUX
ajfa-1874	198	11	statistically	statistically	ADV
ajfa-1874	198	12	significant	significant	ADJ
ajfa-1874	198	13	between	between	ADP
ajfa-1874	198	14	one	one	NUM
ajfa-1874	198	15	to	to	ADP
ajfa-1874	198	16	two	two	NUM
ajfa-1874	198	17	lags	lag	NOUN
ajfa-1874	198	18	,	,	PUNCT
ajfa-1874	198	19	in	in	ADP
ajfa-1874	198	20	both	both	DET
ajfa-1874	198	21	equations	equation	NOUN
ajfa-1874	198	22	of	of	ADP
ajfa-1874	198	23	nifty	nifty	ADJ
ajfa-1874	198	24	and	and	CCONJ
ajfa-1874	198	25	fiis	fiis	NOUN
ajfa-1874	198	26	as	as	SCONJ
ajfa-1874	198	27	suggested	suggest	VERB
ajfa-1874	198	28	by	by	ADP
ajfa-1874	198	29	akaike	akaike	ADJ
ajfa-1874	198	30	information	information	NOUN
ajfa-1874	198	31	criterion	criterion	NOUN
ajfa-1874	198	32	(	(	PUNCT
ajfa-1874	198	33	aic	aic	PROPN
ajfa-1874	198	34	)	)	PUNCT
ajfa-1874	198	35	.	.	PUNCT
ajfa-1874	199	1	this	this	PRON
ajfa-1874	199	2	implies	imply	VERB
ajfa-1874	199	3	that	that	SCONJ
ajfa-1874	199	4	once	once	SCONJ
ajfa-1874	199	5	the	the	DET
ajfa-1874	199	6	price	price	NOUN
ajfa-1874	199	7	relationship	relationship	NOUN
ajfa-1874	199	8	of	of	ADP
ajfa-1874	199	9	fiis	fiis	NOUN
ajfa-1874	199	10	and	and	CCONJ
ajfa-1874	199	11	nifty	nifty	ADJ
ajfa-1874	199	12	closing	closing	NOUN
ajfa-1874	199	13	prices	price	NOUN
ajfa-1874	199	14	deviates	deviate	VERB
ajfa-1874	199	15	away	away	ADV
ajfa-1874	199	16	from	from	ADP
ajfa-1874	199	17	the	the	DET
ajfa-1874	199	18	long	long	ADV
ajfa-1874	199	19	-	-	PUNCT
ajfa-1874	199	20	run	run	VERB
ajfa-1874	199	21	coinetgrated	coinetgrate	VERB
ajfa-1874	199	22	equilibrium	equilibrium	NOUN
ajfa-1874	199	23	,	,	PUNCT
ajfa-1874	199	24	both	both	DET
ajfa-1874	199	25	markets	market	NOUN
ajfa-1874	199	26	will	will	AUX
ajfa-1874	199	27	make	make	VERB
ajfa-1874	199	28	adjustments	adjustment	NOUN
ajfa-1874	199	29	to	to	PART
ajfa-1874	199	30	re	re	VERB
ajfa-1874	199	31	-	-	VERB
ajfa-1874	199	32	establish	establish	VERB
ajfa-1874	199	33	the	the	DET
ajfa-1874	199	34	equilibrium	equilibrium	NOUN
ajfa-1874	199	35	condition	condition	NOUN
ajfa-1874	199	36	.	.	PUNCT
ajfa-1874	200	1	the	the	DET
ajfa-1874	200	2	results	result	NOUN
ajfa-1874	200	3	reveal	reveal	VERB
ajfa-1874	200	4	that	that	SCONJ
ajfa-1874	200	5	error	error	NOUN
ajfa-1874	200	6	correction	correction	NOUN
ajfa-1874	200	7	terms	term	NOUN
ajfa-1874	200	8	of	of	ADP
ajfa-1874	200	9	fiis	fiis	NOUN
ajfa-1874	200	10	are	be	AUX
ajfa-1874	200	11	greater	great	ADJ
ajfa-1874	200	12	in	in	ADP
ajfa-1874	200	13	magnitude	magnitude	NOUN
ajfa-1874	200	14	than	than	ADP
ajfa-1874	200	15	that	that	PRON
ajfa-1874	200	16	of	of	ADP
ajfa-1874	200	17	nifty	nifty	ADJ
ajfa-1874	200	18	closing	closing	NOUN
ajfa-1874	200	19	prices	price	NOUN
ajfa-1874	200	20	,	,	PUNCT
ajfa-1874	200	21	which	which	PRON
ajfa-1874	200	22	means	mean	VERB
ajfa-1874	200	23	fiis	fiis	NOUN
ajfa-1874	200	24	makes	make	VERB
ajfa-1874	200	25	greater	great	ADJ
ajfa-1874	200	26	adjustment	adjustment	NOUN
ajfa-1874	200	27	in	in	ADP
ajfa-1874	200	28	order	order	NOUN
ajfa-1874	200	29	to	to	PART
ajfa-1874	200	30	re	re	VERB
ajfa-1874	200	31	-	-	VERB
ajfa-1874	200	32	establish	establish	VERB
ajfa-1874	200	33	asian	asian	ADJ
ajfa-1874	200	34	journal	journal	NOUN
ajfa-1874	200	35	of	of	ADP
ajfa-1874	200	36	finance	finance	PROPN
ajfa-1874	200	37	&	&	CCONJ
ajfa-1874	200	38	accounting	accounting	PROPN
ajfa-1874	200	39	issn	issn	PROPN
ajfa-1874	200	40	1946	1946	NUM
ajfa-1874	200	41	-	-	PUNCT
ajfa-1874	200	42	052x	052x	NOUN
ajfa-1874	200	43	2012	2012	NUM
ajfa-1874	200	44	,	,	PUNCT
ajfa-1874	200	45	vol	vol	NOUN
ajfa-1874	200	46	.	.	PROPN
ajfa-1874	201	1	4	4	NUM
ajfa-1874	201	2	,	,	PUNCT
ajfa-1874	201	3	no	no	INTJ
ajfa-1874	201	4	.	.	NOUN
ajfa-1874	201	5	2	2	NUM
ajfa-1874	201	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-1874	201	7	30	30	NUM
ajfa-1874	201	8	the	the	DET
ajfa-1874	201	9	equilibrium	equilibrium	NOUN
ajfa-1874	201	10	.	.	PUNCT
ajfa-1874	202	1	in	in	ADP
ajfa-1874	202	2	other	other	ADJ
ajfa-1874	202	3	words	word	NOUN
ajfa-1874	202	4	,	,	PUNCT
ajfa-1874	202	5	nifty	nifty	ADJ
ajfa-1874	202	6	leads	lead	VERB
ajfa-1874	202	7	the	the	DET
ajfa-1874	202	8	fiis	fiis	NOUN
ajfa-1874	202	9	.	.	PUNCT
ajfa-1874	203	1	in	in	ADP
ajfa-1874	203	2	addition	addition	NOUN
ajfa-1874	203	3	,	,	PUNCT
ajfa-1874	203	4	the	the	DET
ajfa-1874	203	5	empirical	empirical	ADJ
ajfa-1874	203	6	results	result	NOUN
ajfa-1874	203	7	of	of	ADP
ajfa-1874	203	8	vec	vec	PROPN
ajfa-1874	203	9	granger	granger	PROPN
ajfa-1874	203	10	causality	causality	PROPN
ajfa-1874	203	11	/	/	SYM
ajfa-1874	203	12	bloc	bloc	PROPN
ajfa-1874	203	13	exogeneity	exogeneity	NOUN
ajfa-1874	203	14	wald	wald	NOUN
ajfa-1874	203	15	test	test	NOUN
ajfa-1874	203	16	between	between	ADP
ajfa-1874	203	17	the	the	DET
ajfa-1874	203	18	sample	sample	NOUN
ajfa-1874	203	19	series	series	NOUN
ajfa-1874	203	20	have	have	AUX
ajfa-1874	203	21	been	be	AUX
ajfa-1874	203	22	examined	examine	VERB
ajfa-1874	203	23	to	to	PART
ajfa-1874	203	24	check	check	VERB
ajfa-1874	203	25	the	the	DET
ajfa-1874	203	26	direction	direction	NOUN
ajfa-1874	203	27	of	of	ADP
ajfa-1874	203	28	causality	causality	NOUN
ajfa-1874	203	29	.	.	PUNCT
ajfa-1874	204	1	the	the	DET
ajfa-1874	204	2	results	result	NOUN
ajfa-1874	204	3	of	of	ADP
ajfa-1874	204	4	vec	vec	PROPN
ajfa-1874	204	5	granger	granger	PROPN
ajfa-1874	204	6	causality	causality	PROPN
ajfa-1874	204	7	test	test	NOUN
ajfa-1874	204	8	are	be	AUX
ajfa-1874	204	9	also	also	ADV
ajfa-1874	204	10	provided	provide	VERB
ajfa-1874	204	11	in	in	ADP
ajfa-1874	204	12	table	table	NOUN
ajfa-1874	204	13	4	4	NUM
ajfa-1874	204	14	.	.	PUNCT
ajfa-1874	205	1	there	there	PRON
ajfa-1874	205	2	are	be	VERB
ajfa-1874	205	3	bi	bi	ADJ
ajfa-1874	205	4	-	-	ADJ
ajfa-1874	205	5	directional	directional	ADJ
ajfa-1874	205	6	granger	granger	NOUN
ajfa-1874	205	7	lead	lead	NOUN
ajfa-1874	205	8	relationships	relationship	NOUN
ajfa-1874	205	9	between	between	ADP
ajfa-1874	205	10	the	the	DET
ajfa-1874	205	11	two	two	NUM
ajfa-1874	205	12	markets	market	NOUN
ajfa-1874	205	13	which	which	PRON
ajfa-1874	205	14	are	be	AUX
ajfa-1874	205	15	significant	significant	ADJ
ajfa-1874	205	16	at	at	ADP
ajfa-1874	205	17	5	5	NUM
ajfa-1874	205	18	%	%	NOUN
ajfa-1874	205	19	level	level	NOUN
ajfa-1874	205	20	.	.	PUNCT
ajfa-1874	206	1	these	these	DET
ajfa-1874	206	2	empirical	empirical	ADJ
ajfa-1874	206	3	results	result	NOUN
ajfa-1874	206	4	are	be	AUX
ajfa-1874	206	5	consistent	consistent	ADJ
ajfa-1874	206	6	with	with	ADP
ajfa-1874	206	7	the	the	DET
ajfa-1874	206	8	co	co	ADJ
ajfa-1874	206	9	-	-	ADJ
ajfa-1874	206	10	integrating	integrating	ADJ
ajfa-1874	206	11	relationships	relationship	NOUN
ajfa-1874	206	12	above	above	ADV
ajfa-1874	206	13	.	.	PUNCT
ajfa-1874	207	1	to	to	PART
ajfa-1874	207	2	reconfirm	reconfirm	VERB
ajfa-1874	207	3	the	the	DET
ajfa-1874	207	4	empirical	empirical	ADJ
ajfa-1874	207	5	results	result	NOUN
ajfa-1874	207	6	of	of	ADP
ajfa-1874	207	7	which	which	DET
ajfa-1874	207	8	market	market	NOUN
ajfa-1874	207	9	whether	whether	SCONJ
ajfa-1874	207	10	spot	spot	NOUN
ajfa-1874	207	11	or	or	CCONJ
ajfa-1874	207	12	futures	future	NOUN
ajfa-1874	207	13	markets	market	NOUN
ajfa-1874	207	14	have	have	VERB
ajfa-1874	207	15	the	the	DET
ajfa-1874	207	16	ability	ability	NOUN
ajfa-1874	207	17	of	of	ADP
ajfa-1874	207	18	price	price	NOUN
ajfa-1874	207	19	discovery	discovery	NOUN
ajfa-1874	207	20	and	and	CCONJ
ajfa-1874	207	21	validate	validate	VERB
ajfa-1874	207	22	the	the	DET
ajfa-1874	207	23	dominant	dominant	ADJ
ajfa-1874	207	24	role	role	NOUN
ajfa-1874	207	25	of	of	ADP
ajfa-1874	207	26	the	the	DET
ajfa-1874	207	27	fiis	fiis	NOUN
ajfa-1874	207	28	in	in	ADP
ajfa-1874	207	29	price	price	NOUN
ajfa-1874	207	30	discovery	discovery	NOUN
ajfa-1874	207	31	,	,	PUNCT
ajfa-1874	207	32	variance	variance	NOUN
ajfa-1874	207	33	decomposition	decomposition	NOUN
ajfa-1874	207	34	analysis	analysis	NOUN
ajfa-1874	207	35	is	be	AUX
ajfa-1874	207	36	done	do	VERB
ajfa-1874	207	37	.	.	PUNCT
ajfa-1874	208	1	the	the	DET
ajfa-1874	208	2	variance	variance	NOUN
ajfa-1874	208	3	decomposition	decomposition	NOUN
ajfa-1874	208	4	analysis	analysis	NOUN
ajfa-1874	208	5	measures	measure	VERB
ajfa-1874	208	6	the	the	DET
ajfa-1874	208	7	percentage	percentage	NOUN
ajfa-1874	208	8	of	of	ADP
ajfa-1874	208	9	the	the	DET
ajfa-1874	208	10	forecast	forecast	NOUN
ajfa-1874	208	11	error	error	NOUN
ajfa-1874	208	12	of	of	ADP
ajfa-1874	208	13	a	a	DET
ajfa-1874	208	14	variable	variable	NOUN
ajfa-1874	208	15	that	that	PRON
ajfa-1874	208	16	is	be	AUX
ajfa-1874	208	17	explained	explain	VERB
ajfa-1874	208	18	by	by	ADP
ajfa-1874	208	19	another	another	DET
ajfa-1874	208	20	variable	variable	NOUN
ajfa-1874	208	21	.	.	PUNCT
ajfa-1874	209	1	it	it	PRON
ajfa-1874	209	2	indicates	indicate	VERB
ajfa-1874	209	3	the	the	DET
ajfa-1874	209	4	relative	relative	ADJ
ajfa-1874	209	5	impact	impact	NOUN
ajfa-1874	209	6	that	that	PRON
ajfa-1874	209	7	one	one	NUM
ajfa-1874	209	8	variable	variable	NOUN
ajfa-1874	209	9	has	have	VERB
ajfa-1874	209	10	upon	upon	SCONJ
ajfa-1874	209	11	another	another	DET
ajfa-1874	209	12	variable	variable	NOUN
ajfa-1874	209	13	within	within	ADP
ajfa-1874	209	14	the	the	DET
ajfa-1874	209	15	vecm	vecm	NOUN
ajfa-1874	209	16	system	system	NOUN
ajfa-1874	209	17	.	.	PUNCT
ajfa-1874	210	1	the	the	DET
ajfa-1874	210	2	variance	variance	NOUN
ajfa-1874	210	3	decomposition	decomposition	NOUN
ajfa-1874	210	4	enables	enable	VERB
ajfa-1874	210	5	us	we	PRON
ajfa-1874	210	6	to	to	PART
ajfa-1874	210	7	assess	assess	VERB
ajfa-1874	210	8	the	the	DET
ajfa-1874	210	9	economic	economic	ADJ
ajfa-1874	210	10	significance	significance	NOUN
ajfa-1874	210	11	of	of	ADP
ajfa-1874	210	12	these	these	DET
ajfa-1874	210	13	impacts	impact	NOUN
ajfa-1874	210	14	as	as	ADP
ajfa-1874	210	15	the	the	DET
ajfa-1874	210	16	percentages	percentage	NOUN
ajfa-1874	210	17	of	of	ADP
ajfa-1874	210	18	the	the	DET
ajfa-1874	210	19	forecast	forecast	NOUN
ajfa-1874	210	20	error	error	NOUN
ajfa-1874	210	21	for	for	ADP
ajfa-1874	210	22	a	a	DET
ajfa-1874	210	23	variable	variable	ADJ
ajfa-1874	210	24	sum	sum	NOUN
ajfa-1874	210	25	to	to	ADP
ajfa-1874	210	26	one	one	NUM
ajfa-1874	210	27	.	.	PUNCT
ajfa-1874	211	1	this	this	DET
ajfa-1874	211	2	structure	structure	NOUN
ajfa-1874	211	3	of	of	ADP
ajfa-1874	211	4	result	result	NOUN
ajfa-1874	211	5	showing	show	VERB
ajfa-1874	211	6	the	the	DET
ajfa-1874	211	7	information	information	NOUN
ajfa-1874	211	8	share	share	NOUN
ajfa-1874	211	9	shows	show	VERB
ajfa-1874	211	10	that	that	SCONJ
ajfa-1874	211	11	most	most	ADJ
ajfa-1874	211	12	of	of	ADP
ajfa-1874	211	13	the	the	DET
ajfa-1874	211	14	price	price	NOUN
ajfa-1874	211	15	changes	change	NOUN
ajfa-1874	211	16	of	of	ADP
ajfa-1874	211	17	fiis	fiis	NOUN
ajfa-1874	211	18	are	be	AUX
ajfa-1874	211	19	because	because	SCONJ
ajfa-1874	211	20	of	of	ADP
ajfa-1874	211	21	nifty	nifty	ADJ
ajfa-1874	211	22	closing	closing	NOUN
ajfa-1874	211	23	,	,	PUNCT
ajfa-1874	211	24	and	and	CCONJ
ajfa-1874	211	25	more	more	ADJ
ajfa-1874	211	26	information	information	NOUN
ajfa-1874	211	27	flows	flow	VERB
ajfa-1874	211	28	from	from	ADP
ajfa-1874	211	29	nifty	nifty	ADJ
ajfa-1874	211	30	to	to	PART
ajfa-1874	211	31	fiis	fiis	VERB
ajfa-1874	211	32	.	.	PUNCT
ajfa-1874	212	1	the	the	DET
ajfa-1874	212	2	information	information	NOUN
ajfa-1874	212	3	share	share	NOUN
ajfa-1874	212	4	and	and	CCONJ
ajfa-1874	212	5	variance	variance	NOUN
ajfa-1874	212	6	decomposition	decomposition	NOUN
ajfa-1874	212	7	confirms	confirm	VERB
ajfa-1874	212	8	the	the	DET
ajfa-1874	212	9	dominant	dominant	ADJ
ajfa-1874	212	10	role	role	NOUN
ajfa-1874	212	11	of	of	ADP
ajfa-1874	212	12	nifty	nifty	ADJ
ajfa-1874	212	13	in	in	ADP
ajfa-1874	212	14	information	information	NOUN
ajfa-1874	212	15	dissemination	dissemination	NOUN
ajfa-1874	212	16	,	,	PUNCT
ajfa-1874	212	17	the	the	DET
ajfa-1874	212	18	results	result	NOUN
ajfa-1874	212	19	of	of	ADP
ajfa-1874	212	20	which	which	PRON
ajfa-1874	212	21	are	be	AUX
ajfa-1874	212	22	also	also	ADV
ajfa-1874	212	23	shown	show	VERB
ajfa-1874	212	24	in	in	ADP
ajfa-1874	212	25	table	table	NOUN
ajfa-1874	212	26	4	4	NUM
ajfa-1874	212	27	.	.	X
ajfa-1874	212	28	4.1.3	4.1.3	NUM
ajfa-1874	212	29	impulse	impulse	ADJ
ajfa-1874	212	30	response	response	NOUN
ajfa-1874	212	31	analysis	analysis	NOUN
ajfa-1874	212	32	the	the	DET
ajfa-1874	212	33	arma	arma	ADJ
ajfa-1874	212	34	impulse	impulse	ADJ
ajfa-1874	212	35	response	response	NOUN
ajfa-1874	212	36	view	view	NOUN
ajfa-1874	212	37	traces	trace	VERB
ajfa-1874	212	38	the	the	DET
ajfa-1874	212	39	response	response	NOUN
ajfa-1874	212	40	of	of	ADP
ajfa-1874	212	41	the	the	DET
ajfa-1874	212	42	arma	arma	ADJ
ajfa-1874	212	43	part	part	NOUN
ajfa-1874	212	44	of	of	ADP
ajfa-1874	212	45	the	the	DET
ajfa-1874	212	46	estimated	estimate	VERB
ajfa-1874	212	47	equation	equation	NOUN
ajfa-1874	212	48	to	to	ADP
ajfa-1874	212	49	shocks	shock	NOUN
ajfa-1874	212	50	in	in	ADP
ajfa-1874	212	51	the	the	DET
ajfa-1874	212	52	innovation	innovation	NOUN
ajfa-1874	212	53	.	.	PUNCT
ajfa-1874	213	1	an	an	DET
ajfa-1874	213	2	impulse	impulse	ADJ
ajfa-1874	213	3	response	response	NOUN
ajfa-1874	213	4	function	function	NOUN
ajfa-1874	213	5	traces	trace	VERB
ajfa-1874	213	6	the	the	DET
ajfa-1874	213	7	response	response	NOUN
ajfa-1874	213	8	to	to	ADP
ajfa-1874	213	9	a	a	DET
ajfa-1874	213	10	one	one	NUM
ajfa-1874	213	11	-	-	PUNCT
ajfa-1874	213	12	time	time	NOUN
ajfa-1874	213	13	shock	shock	NOUN
ajfa-1874	213	14	in	in	ADP
ajfa-1874	213	15	the	the	DET
ajfa-1874	213	16	innovation	innovation	NOUN
ajfa-1874	213	17	.	.	PUNCT
ajfa-1874	214	1	the	the	DET
ajfa-1874	214	2	accumulated	accumulate	VERB
ajfa-1874	214	3	response	response	NOUN
ajfa-1874	214	4	is	be	AUX
ajfa-1874	214	5	the	the	DET
ajfa-1874	214	6	accumulated	accumulate	VERB
ajfa-1874	214	7	sum	sum	NOUN
ajfa-1874	214	8	of	of	ADP
ajfa-1874	214	9	the	the	DET
ajfa-1874	214	10	impulse	impulse	ADJ
ajfa-1874	214	11	responses	response	NOUN
ajfa-1874	214	12	.	.	PUNCT
ajfa-1874	215	1	it	it	PRON
ajfa-1874	215	2	can	can	AUX
ajfa-1874	215	3	be	be	AUX
ajfa-1874	215	4	interpreted	interpret	VERB
ajfa-1874	215	5	as	as	ADP
ajfa-1874	215	6	the	the	DET
ajfa-1874	215	7	response	response	NOUN
ajfa-1874	215	8	to	to	PART
ajfa-1874	215	9	step	step	VERB
ajfa-1874	215	10	impulse	impulse	ADJ
ajfa-1874	215	11	where	where	SCONJ
ajfa-1874	215	12	the	the	DET
ajfa-1874	215	13	same	same	ADJ
ajfa-1874	215	14	shock	shock	NOUN
ajfa-1874	215	15	occurs	occur	VERB
ajfa-1874	215	16	in	in	ADP
ajfa-1874	215	17	every	every	DET
ajfa-1874	215	18	period	period	NOUN
ajfa-1874	215	19	from	from	ADP
ajfa-1874	215	20	the	the	DET
ajfa-1874	215	21	first	first	ADJ
ajfa-1874	215	22	.	.	PUNCT
ajfa-1874	216	1	it	it	PRON
ajfa-1874	216	2	gives	give	VERB
ajfa-1874	216	3	a	a	DET
ajfa-1874	216	4	graphical	graphical	ADJ
ajfa-1874	216	5	view	view	NOUN
ajfa-1874	216	6	as	as	SCONJ
ajfa-1874	216	7	exhibited	exhibit	VERB
ajfa-1874	216	8	by	by	ADP
ajfa-1874	216	9	variance	variance	NOUN
ajfa-1874	216	10	decomposition	decomposition	NOUN
ajfa-1874	216	11	analysis	analysis	NOUN
ajfa-1874	216	12	.	.	PUNCT
ajfa-1874	217	1	-10	-10	PUNCT
ajfa-1874	217	2	0	0	NUM
ajfa-1874	218	1	10	10	NUM
ajfa-1874	218	2	20	20	NUM
ajfa-1874	218	3	30	30	NUM
ajfa-1874	218	4	40	40	NUM
ajfa-1874	218	5	50	50	NUM
ajfa-1874	218	6	60	60	NUM
ajfa-1874	218	7	70	70	NUM
ajfa-1874	218	8	1	1	NUM
ajfa-1874	218	9	2	2	NUM
ajfa-1874	218	10	3	3	NUM
ajfa-1874	218	11	4	4	NUM
ajfa-1874	218	12	5	5	NUM
ajfa-1874	218	13	6	6	NUM
ajfa-1874	218	14	7	7	NUM
ajfa-1874	218	15	8	8	NUM
ajfa-1874	218	16	9	9	NUM
ajfa-1874	218	17	10	10	NUM
ajfa-1874	218	18	response	response	NOUN
ajfa-1874	218	19	of	of	ADP
ajfa-1874	218	20	encl	encl	NOUN
ajfa-1874	218	21	to	to	PART
ajfa-1874	218	22	encl	encl	NOUN
ajfa-1874	218	23	-10	-10	PUNCT
ajfa-1874	218	24	0	0	NUM
ajfa-1874	218	25	10	10	NUM
ajfa-1874	218	26	20	20	NUM
ajfa-1874	218	27	30	30	NUM
ajfa-1874	218	28	40	40	NUM
ajfa-1874	218	29	50	50	NUM
ajfa-1874	218	30	60	60	NUM
ajfa-1874	218	31	70	70	NUM
ajfa-1874	218	32	1	1	NUM
ajfa-1874	218	33	2	2	NUM
ajfa-1874	218	34	3	3	NUM
ajfa-1874	218	35	4	4	NUM
ajfa-1874	218	36	5	5	NUM
ajfa-1874	218	37	6	6	NUM
ajfa-1874	218	38	7	7	NUM
ajfa-1874	218	39	8	8	NUM
ajfa-1874	218	40	9	9	NUM
ajfa-1874	218	41	10	10	NUM
ajfa-1874	218	42	response	response	NOUN
ajfa-1874	218	43	of	of	ADP
ajfa-1874	218	44	encl	encl	NOUN
ajfa-1874	218	45	to	to	ADP
ajfa-1874	218	46	fiieq	fiieq	ADV
ajfa-1874	218	47	0	0	NUM
ajfa-1874	218	48	100	100	NUM
ajfa-1874	218	49	200	200	NUM
ajfa-1874	218	50	300	300	NUM
ajfa-1874	218	51	400	400	NUM
ajfa-1874	218	52	500	500	NUM
ajfa-1874	218	53	600	600	NUM
ajfa-1874	218	54	1	1	NUM
ajfa-1874	218	55	2	2	NUM
ajfa-1874	218	56	3	3	NUM
ajfa-1874	218	57	4	4	NUM
ajfa-1874	218	58	5	5	NUM
ajfa-1874	218	59	6	6	NUM
ajfa-1874	218	60	7	7	NUM
ajfa-1874	218	61	8	8	NUM
ajfa-1874	218	62	9	9	NUM
ajfa-1874	218	63	10	10	NUM
ajfa-1874	218	64	response	response	NOUN
ajfa-1874	218	65	of	of	ADP
ajfa-1874	218	66	fiieq	fiieq	NOUN
ajfa-1874	218	67	to	to	PART
ajfa-1874	218	68	encl	encl	VERB
ajfa-1874	218	69	0	0	NUM
ajfa-1874	218	70	100	100	NUM
ajfa-1874	218	71	200	200	NUM
ajfa-1874	218	72	300	300	NUM
ajfa-1874	218	73	400	400	NUM
ajfa-1874	218	74	500	500	NUM
ajfa-1874	218	75	600	600	NUM
ajfa-1874	218	76	1	1	NUM
ajfa-1874	218	77	2	2	NUM
ajfa-1874	218	78	3	3	NUM
ajfa-1874	218	79	4	4	NUM
ajfa-1874	218	80	5	5	NUM
ajfa-1874	218	81	6	6	NUM
ajfa-1874	218	82	7	7	NUM
ajfa-1874	218	83	8	8	NUM
ajfa-1874	218	84	9	9	NUM
ajfa-1874	218	85	10	10	NUM
ajfa-1874	218	86	response	response	NOUN
ajfa-1874	218	87	of	of	ADP
ajfa-1874	218	88	fiieq	fiieq	ADV
ajfa-1874	218	89	to	to	ADP
ajfa-1874	218	90	fiieq	fiieq	ADJ
ajfa-1874	218	91	response	response	NOUN
ajfa-1874	218	92	to	to	ADP
ajfa-1874	218	93	generalized	generalize	VERB
ajfa-1874	218	94	one	one	NUM
ajfa-1874	218	95	s.d	s.d	PROPN
ajfa-1874	218	96	.	.	PUNCT
ajfa-1874	218	97	innovations	innovation	NOUN
ajfa-1874	218	98	±	±	PROPN
ajfa-1874	218	99	2	2	NUM
ajfa-1874	218	100	s.e	s.e	PROPN
ajfa-1874	218	101	.	.	PUNCT
ajfa-1874	219	1	it	it	PRON
ajfa-1874	219	2	shows	show	VERB
ajfa-1874	219	3	a	a	DET
ajfa-1874	219	4	lead	lead	ADJ
ajfa-1874	219	5	role	role	NOUN
ajfa-1874	219	6	of	of	ADP
ajfa-1874	219	7	nifty	nifty	ADJ
ajfa-1874	219	8	and	and	CCONJ
ajfa-1874	219	9	fii	fii	PROPN
ajfa-1874	219	10	respond	respond	VERB
ajfa-1874	219	11	to	to	ADP
ajfa-1874	219	12	changes	change	NOUN
ajfa-1874	219	13	in	in	ADP
ajfa-1874	219	14	the	the	DET
ajfa-1874	219	15	movement	movement	NOUN
ajfa-1874	219	16	of	of	ADP
ajfa-1874	219	17	nifty	nifty	ADJ
ajfa-1874	219	18	,	,	PUNCT
ajfa-1874	219	19	as	as	SCONJ
ajfa-1874	219	20	is	be	AUX
ajfa-1874	219	21	shown	show	VERB
ajfa-1874	219	22	in	in	ADP
ajfa-1874	219	23	the	the	DET
ajfa-1874	219	24	graph	graph	NOUN
ajfa-1874	219	25	of	of	ADP
ajfa-1874	219	26	response	response	NOUN
ajfa-1874	219	27	of	of	ADP
ajfa-1874	219	28	fiis	fiis	NOUN
ajfa-1874	219	29	to	to	ADP
ajfa-1874	219	30	nifty	nifty	ADJ
ajfa-1874	219	31	close	close	ADV
ajfa-1874	219	32	.	.	PUNCT
ajfa-1874	220	1	the	the	DET
ajfa-1874	220	2	responses	response	NOUN
ajfa-1874	220	3	correspond	correspond	VERB
ajfa-1874	220	4	with	with	ADP
ajfa-1874	220	5	the	the	DET
ajfa-1874	220	6	result	result	NOUN
ajfa-1874	220	7	of	of	ADP
ajfa-1874	220	8	variance	variance	NOUN
ajfa-1874	220	9	decomposition	decomposition	NOUN
ajfa-1874	220	10	analysis	analysis	NOUN
ajfa-1874	220	11	.	.	PUNCT
ajfa-1874	221	1	asian	asian	ADJ
ajfa-1874	221	2	journal	journal	PROPN
ajfa-1874	221	3	of	of	ADP
ajfa-1874	221	4	finance	finance	PROPN
ajfa-1874	221	5	&	&	CCONJ
ajfa-1874	221	6	accounting	accounting	PROPN
ajfa-1874	221	7	issn	issn	PROPN
ajfa-1874	221	8	1946	1946	NUM
ajfa-1874	221	9	-	-	PUNCT
ajfa-1874	221	10	052x	052x	NOUN
ajfa-1874	221	11	2012	2012	NUM
ajfa-1874	221	12	,	,	PUNCT
ajfa-1874	221	13	vol	vol	NOUN
ajfa-1874	221	14	.	.	PROPN
ajfa-1874	221	15	4	4	NUM
ajfa-1874	221	16	,	,	PUNCT
ajfa-1874	221	17	no	no	INTJ
ajfa-1874	221	18	.	.	NOUN
ajfa-1874	221	19	2	2	NUM
ajfa-1874	221	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-1874	221	21	31	31	NUM
ajfa-1874	221	22	4.2	4.2	NUM
ajfa-1874	221	23	volatility	volatility	NOUN
ajfa-1874	221	24	spillover	spillover	VERB
ajfa-1874	221	25	volatility	volatility	NOUN
ajfa-1874	221	26	is	be	AUX
ajfa-1874	221	27	yet	yet	ADV
ajfa-1874	221	28	another	another	DET
ajfa-1874	221	29	area	area	NOUN
ajfa-1874	221	30	of	of	ADP
ajfa-1874	221	31	interest	interest	NOUN
ajfa-1874	221	32	both	both	CCONJ
ajfa-1874	221	33	for	for	ADP
ajfa-1874	221	34	regulators	regulator	NOUN
ajfa-1874	221	35	and	and	CCONJ
ajfa-1874	221	36	for	for	ADP
ajfa-1874	221	37	market	market	NOUN
ajfa-1874	221	38	participants	participant	NOUN
ajfa-1874	221	39	who	who	PRON
ajfa-1874	221	40	prefer	prefer	VERB
ajfa-1874	221	41	less	less	ADJ
ajfa-1874	221	42	volatility	volatility	NOUN
ajfa-1874	221	43	to	to	ADP
ajfa-1874	221	44	more	more	ADJ
ajfa-1874	221	45	volatility	volatility	NOUN
ajfa-1874	221	46	.	.	PUNCT
ajfa-1874	222	1	a	a	DET
ajfa-1874	222	2	meaningful	meaningful	ADJ
ajfa-1874	222	3	interpretation	interpretation	NOUN
ajfa-1874	222	4	of	of	ADP
ajfa-1874	222	5	volatility	volatility	NOUN
ajfa-1874	222	6	will	will	AUX
ajfa-1874	222	7	give	give	VERB
ajfa-1874	222	8	us	we	PRON
ajfa-1874	222	9	important	important	ADJ
ajfa-1874	222	10	information	information	NOUN
ajfa-1874	222	11	and	and	CCONJ
ajfa-1874	222	12	will	will	AUX
ajfa-1874	222	13	act	act	VERB
ajfa-1874	222	14	as	as	ADP
ajfa-1874	222	15	a	a	DET
ajfa-1874	222	16	measure	measure	NOUN
ajfa-1874	222	17	to	to	PART
ajfa-1874	222	18	know	know	VERB
ajfa-1874	222	19	as	as	ADP
ajfa-1874	222	20	to	to	ADP
ajfa-1874	222	21	how	how	SCONJ
ajfa-1874	222	22	far	far	ADV
ajfa-1874	222	23	the	the	DET
ajfa-1874	222	24	current	current	ADJ
ajfa-1874	222	25	prices	price	NOUN
ajfa-1874	222	26	of	of	ADP
ajfa-1874	222	27	an	an	DET
ajfa-1874	222	28	asset	asset	NOUN
ajfa-1874	222	29	deviate	deviate	NOUN
ajfa-1874	222	30	from	from	ADP
ajfa-1874	222	31	its	its	PRON
ajfa-1874	222	32	average	average	ADJ
ajfa-1874	222	33	past	past	ADJ
ajfa-1874	222	34	prices	price	NOUN
ajfa-1874	222	35	.	.	PUNCT
ajfa-1874	223	1	at	at	ADP
ajfa-1874	223	2	a	a	DET
ajfa-1874	223	3	fundamental	fundamental	ADJ
ajfa-1874	223	4	level	level	NOUN
ajfa-1874	223	5	,	,	PUNCT
ajfa-1874	223	6	volatility	volatility	NOUN
ajfa-1874	223	7	specifies	specify	VERB
ajfa-1874	223	8	the	the	DET
ajfa-1874	223	9	strength	strength	NOUN
ajfa-1874	223	10	or	or	CCONJ
ajfa-1874	223	11	confidence	confidence	NOUN
ajfa-1874	223	12	behind	behind	ADP
ajfa-1874	223	13	a	a	DET
ajfa-1874	223	14	price	price	NOUN
ajfa-1874	223	15	move	move	NOUN
ajfa-1874	223	16	.	.	PUNCT
ajfa-1874	224	1	instinctively	instinctively	ADV
ajfa-1874	224	2	,	,	PUNCT
ajfa-1874	224	3	we	we	PRON
ajfa-1874	224	4	can	can	AUX
ajfa-1874	224	5	argue	argue	VERB
ajfa-1874	224	6	that	that	SCONJ
ajfa-1874	224	7	the	the	DET
ajfa-1874	224	8	measurement	measurement	NOUN
ajfa-1874	224	9	issues	issue	NOUN
ajfa-1874	224	10	of	of	ADP
ajfa-1874	224	11	volatility	volatility	NOUN
ajfa-1874	224	12	can	can	AUX
ajfa-1874	224	13	also	also	ADV
ajfa-1874	224	14	be	be	AUX
ajfa-1874	224	15	useful	useful	ADJ
ajfa-1874	224	16	to	to	PART
ajfa-1874	224	17	comprehend	comprehend	VERB
ajfa-1874	224	18	the	the	DET
ajfa-1874	224	19	market	market	NOUN
ajfa-1874	224	20	assimilation	assimilation	NOUN
ajfa-1874	224	21	,	,	PUNCT
ajfa-1874	224	22	co	co	NOUN
ajfa-1874	224	23	-	-	NOUN
ajfa-1874	224	24	movement	movement	NOUN
ajfa-1874	224	25	and	and	CCONJ
ajfa-1874	224	26	spill	spill	NOUN
ajfa-1874	224	27	over	over	ADP
ajfa-1874	224	28	effect	effect	NOUN
ajfa-1874	224	29	.	.	PUNCT
ajfa-1874	225	1	the	the	DET
ajfa-1874	225	2	existence	existence	NOUN
ajfa-1874	225	3	of	of	ADP
ajfa-1874	225	4	volatility	volatility	NOUN
ajfa-1874	225	5	spillover	spillover	VERB
ajfa-1874	225	6	between	between	ADP
ajfa-1874	225	7	the	the	DET
ajfa-1874	225	8	two	two	NUM
ajfa-1874	225	9	markets	market	NOUN
ajfa-1874	225	10	specifies	specifie	NOUN
ajfa-1874	225	11	that	that	SCONJ
ajfa-1874	225	12	the	the	DET
ajfa-1874	225	13	volatility	volatility	NOUN
ajfa-1874	225	14	of	of	ADP
ajfa-1874	225	15	returns	return	NOUN
ajfa-1874	225	16	in	in	ADP
ajfa-1874	225	17	one	one	NUM
ajfa-1874	225	18	market	market	NOUN
ajfa-1874	225	19	has	have	VERB
ajfa-1874	225	20	an	an	DET
ajfa-1874	225	21	important	important	ADJ
ajfa-1874	225	22	effect	effect	NOUN
ajfa-1874	225	23	on	on	ADP
ajfa-1874	225	24	the	the	DET
ajfa-1874	225	25	volatility	volatility	NOUN
ajfa-1874	225	26	of	of	ADP
ajfa-1874	225	27	returns	return	NOUN
ajfa-1874	225	28	in	in	ADP
ajfa-1874	225	29	the	the	DET
ajfa-1874	225	30	other	other	ADJ
ajfa-1874	225	31	market	market	NOUN
ajfa-1874	225	32	.	.	PUNCT
ajfa-1874	226	1	first	first	ADV
ajfa-1874	226	2	the	the	DET
ajfa-1874	226	3	stationarity	stationarity	NOUN
ajfa-1874	226	4	of	of	ADP
ajfa-1874	226	5	data	datum	NOUN
ajfa-1874	226	6	is	be	AUX
ajfa-1874	226	7	analysed	analyse	VERB
ajfa-1874	226	8	using	use	VERB
ajfa-1874	226	9	augmented	augment	VERB
ajfa-1874	226	10	dickey	dickey	PROPN
ajfa-1874	226	11	-	-	PUNCT
ajfa-1874	226	12	fuller	full	ADJ
ajfa-1874	226	13	test	test	NOUN
ajfa-1874	226	14	(	(	PUNCT
ajfa-1874	226	15	adf	adf	NOUN
ajfa-1874	226	16	)	)	PUNCT
ajfa-1874	226	17	and	and	CCONJ
ajfa-1874	226	18	the	the	DET
ajfa-1874	226	19	results	result	NOUN
ajfa-1874	226	20	of	of	ADP
ajfa-1874	226	21	which	which	PRON
ajfa-1874	226	22	are	be	AUX
ajfa-1874	226	23	entailed	entail	VERB
ajfa-1874	226	24	in	in	ADP
ajfa-1874	226	25	table	table	NOUN
ajfa-1874	226	26	v.	v.	ADV
ajfa-1874	226	27	before	before	ADP
ajfa-1874	226	28	estimating	estimate	VERB
ajfa-1874	226	29	the	the	DET
ajfa-1874	226	30	egarch	egarch	NOUN
ajfa-1874	226	31	model	model	NOUN
ajfa-1874	226	32	,	,	PUNCT
ajfa-1874	226	33	it	it	PRON
ajfa-1874	226	34	is	be	AUX
ajfa-1874	226	35	necessary	necessary	ADJ
ajfa-1874	226	36	to	to	PART
ajfa-1874	226	37	check	check	VERB
ajfa-1874	226	38	the	the	DET
ajfa-1874	226	39	model	model	NOUN
ajfa-1874	226	40	adequacy	adequacy	NOUN
ajfa-1874	226	41	by	by	ADP
ajfa-1874	226	42	performing	perform	VERB
ajfa-1874	226	43	the	the	DET
ajfa-1874	226	44	diagnostic	diagnostic	ADJ
ajfa-1874	226	45	tests	test	NOUN
ajfa-1874	226	46	that	that	PRON
ajfa-1874	226	47	involve	involve	VERB
ajfa-1874	226	48	serial	serial	ADJ
ajfa-1874	226	49	correlation	correlation	NOUN
ajfa-1874	226	50	,	,	PUNCT
ajfa-1874	226	51	normally	normally	ADV
ajfa-1874	226	52	distributed	distribute	VERB
ajfa-1874	226	53	error	error	NOUN
ajfa-1874	226	54	and	and	CCONJ
ajfa-1874	226	55	goodness	goodness	NOUN
ajfa-1874	226	56	of	of	ADP
ajfa-1874	226	57	fit	fit	ADJ
ajfa-1874	226	58	measures	measure	NOUN
ajfa-1874	226	59	.	.	PUNCT
ajfa-1874	227	1	all	all	DET
ajfa-1874	227	2	diagnostic	diagnostic	ADJ
ajfa-1874	227	3	tests	test	NOUN
ajfa-1874	227	4	are	be	AUX
ajfa-1874	227	5	primarily	primarily	ADV
ajfa-1874	227	6	carried	carry	VERB
ajfa-1874	227	7	on	on	ADP
ajfa-1874	227	8	the	the	DET
ajfa-1874	227	9	standardized	standardized	ADJ
ajfa-1874	227	10	residuals	residual	NOUN
ajfa-1874	227	11	via	via	ADP
ajfa-1874	227	12	ols	ol	NOUN
ajfa-1874	227	13	and	and	CCONJ
ajfa-1874	227	14	it	it	PRON
ajfa-1874	227	15	is	be	AUX
ajfa-1874	227	16	found	find	VERB
ajfa-1874	227	17	that	that	SCONJ
ajfa-1874	227	18	all	all	PRON
ajfa-1874	227	19	are	be	AUX
ajfa-1874	227	20	significant	significant	ADJ
ajfa-1874	227	21	at	at	ADP
ajfa-1874	227	22	5	5	NUM
ajfa-1874	227	23	%	%	NOUN
ajfa-1874	227	24	level	level	NOUN
ajfa-1874	227	25	.	.	PUNCT
ajfa-1874	228	1	the	the	DET
ajfa-1874	228	2	diagnostic	diagnostic	ADJ
ajfa-1874	228	3	statistics	statistic	NOUN
ajfa-1874	228	4	with	with	ADP
ajfa-1874	228	5	respect	respect	NOUN
ajfa-1874	228	6	to	to	ADP
ajfa-1874	228	7	egarch	egarch	NOUN
ajfa-1874	228	8	model	model	NOUN
ajfa-1874	228	9	are	be	AUX
ajfa-1874	228	10	not	not	PART
ajfa-1874	228	11	reported	report	VERB
ajfa-1874	228	12	here	here	ADV
ajfa-1874	228	13	to	to	PART
ajfa-1874	228	14	conserve	conserve	VERB
ajfa-1874	228	15	space	space	NOUN
ajfa-1874	228	16	.	.	PUNCT
ajfa-1874	229	1	the	the	DET
ajfa-1874	229	2	results	result	NOUN
ajfa-1874	229	3	of	of	ADP
ajfa-1874	229	4	volatility	volatility	NOUN
ajfa-1874	229	5	spill	spill	NOUN
ajfa-1874	229	6	over	over	ADP
ajfa-1874	229	7	relationships	relationship	NOUN
ajfa-1874	229	8	between	between	ADP
ajfa-1874	229	9	fiis	fiis	NOUN
ajfa-1874	229	10	and	and	CCONJ
ajfa-1874	229	11	nifty	nifty	ADJ
ajfa-1874	229	12	using	use	VERB
ajfa-1874	229	13	bivariate	bivariate	ADJ
ajfa-1874	229	14	e	e	ADJ
ajfa-1874	229	15	-	-	ADJ
ajfa-1874	229	16	garch	garch	ADJ
ajfa-1874	229	17	model	model	NOUN
ajfa-1874	229	18	are	be	AUX
ajfa-1874	229	19	reported	report	VERB
ajfa-1874	229	20	in	in	ADP
ajfa-1874	229	21	table	table	NOUN
ajfa-1874	229	22	6	6	NUM
ajfa-1874	229	23	for	for	ADP
ajfa-1874	229	24	entire	entire	ADJ
ajfa-1874	229	25	sample	sample	NOUN
ajfa-1874	229	26	series	series	NOUN
ajfa-1874	229	27	.	.	PUNCT
ajfa-1874	230	1	the	the	DET
ajfa-1874	230	2	coefficient	coefficient	PROPN
ajfa-1874	230	3	βsf	βsf	PROPN
ajfa-1874	230	4	indicates	indicate	VERB
ajfa-1874	230	5	the	the	DET
ajfa-1874	230	6	volatility	volatility	NOUN
ajfa-1874	230	7	spillover	spillover	VERB
ajfa-1874	230	8	from	from	ADP
ajfa-1874	230	9	fiis	fiis	NOUN
ajfa-1874	230	10	to	to	ADP
ajfa-1874	230	11	nifty	nifty	ADJ
ajfa-1874	230	12	and	and	CCONJ
ajfa-1874	230	13	βfs	βfs	NOUN
ajfa-1874	230	14	means	mean	VERB
ajfa-1874	230	15	reverse	reverse	ADJ
ajfa-1874	230	16	direction	direction	NOUN
ajfa-1874	230	17	.	.	PUNCT
ajfa-1874	231	1	the	the	DET
ajfa-1874	231	2	coefficients	coefficient	NOUN
ajfa-1874	231	3	βss	βss	PROPN
ajfa-1874	231	4	βff	βff	PROPN
ajfa-1874	231	5	show	show	VERB
ajfa-1874	231	6	the	the	DET
ajfa-1874	231	7	volatility	volatility	NOUN
ajfa-1874	231	8	clustering	cluster	VERB
ajfa-1874	231	9	,	,	PUNCT
ajfa-1874	231	10	while	while	SCONJ
ajfa-1874	231	11	the	the	DET
ajfa-1874	231	12	coefficients	coefficient	NOUN
ajfa-1874	231	13	ƴs	ƴs	ADP
ajfa-1874	231	14	(	(	PUNCT
ajfa-1874	231	15	stock	stock	NOUN
ajfa-1874	231	16	market	market	NOUN
ajfa-1874	231	17	)	)	PUNCT
ajfa-1874	231	18	&	&	CCONJ
ajfa-1874	231	19	ƴf	ƴf	PROPN
ajfa-1874	231	20	(	(	PUNCT
ajfa-1874	231	21	fiis	fiis	NOUN
ajfa-1874	231	22	)	)	PUNCT
ajfa-1874	231	23	measure	measure	NOUN
ajfa-1874	231	24	the	the	DET
ajfa-1874	231	25	degree	degree	NOUN
ajfa-1874	231	26	of	of	ADP
ajfa-1874	231	27	volatility	volatility	NOUN
ajfa-1874	231	28	persistence	persistence	NOUN
ajfa-1874	231	29	.	.	PUNCT
ajfa-1874	232	1	the	the	DET
ajfa-1874	232	2	residuals	residual	NOUN
ajfa-1874	232	3	of	of	ADP
ajfa-1874	232	4	the	the	DET
ajfa-1874	232	5	model	model	NOUN
ajfa-1874	232	6	are	be	AUX
ajfa-1874	232	7	tested	test	VERB
ajfa-1874	232	8	for	for	ADP
ajfa-1874	232	9	additional	additional	ADJ
ajfa-1874	232	10	arch	arch	ADJ
ajfa-1874	232	11	effects	effect	NOUN
ajfa-1874	232	12	using	use	VERB
ajfa-1874	232	13	arch	arch	NOUN
ajfa-1874	232	14	lm	lm	PROPN
ajfa-1874	232	15	test	test	NOUN
ajfa-1874	232	16	.	.	PUNCT
ajfa-1874	233	1	the	the	DET
ajfa-1874	233	2	coefficients	coefficient	NOUN
ajfa-1874	233	3	of	of	ADP
ajfa-1874	233	4	β	β	X
ajfa-1874	233	5	sf	sf	PROPN
ajfa-1874	233	6	and	and	CCONJ
ajfa-1874	233	7	β	β	X
ajfa-1874	233	8	fs	fs	X
ajfa-1874	233	9	are	be	AUX
ajfa-1874	233	10	very	very	ADV
ajfa-1874	233	11	important	important	ADJ
ajfa-1874	233	12	and	and	CCONJ
ajfa-1874	233	13	reveal	reveal	VERB
ajfa-1874	233	14	volatility	volatility	NOUN
ajfa-1874	233	15	spill	spill	NOUN
ajfa-1874	233	16	over	over	ADP
ajfa-1874	233	17	from	from	ADP
ajfa-1874	233	18	the	the	DET
ajfa-1874	233	19	stock	stock	NOUN
ajfa-1874	233	20	market	market	NOUN
ajfa-1874	233	21	to	to	ADP
ajfa-1874	233	22	fiis	fiis	NOUN
ajfa-1874	233	23	or	or	CCONJ
ajfa-1874	233	24	fiis	fiis	NOUN
ajfa-1874	233	25	to	to	ADP
ajfa-1874	233	26	stock	stock	NOUN
ajfa-1874	233	27	.	.	PUNCT
ajfa-1874	234	1	results	result	NOUN
ajfa-1874	234	2	support	support	VERB
ajfa-1874	234	3	the	the	DET
ajfa-1874	234	4	bidirectional	bidirectional	ADJ
ajfa-1874	234	5	volatility	volatility	NOUN
ajfa-1874	234	6	spillover	spillover	NOUN
ajfa-1874	234	7	process	process	NOUN
ajfa-1874	234	8	with	with	ADP
ajfa-1874	234	9	significant	significant	ADJ
ajfa-1874	234	10	coefficients	coefficient	NOUN
ajfa-1874	234	11	.	.	PUNCT
ajfa-1874	235	1	volatility	volatility	NOUN
ajfa-1874	235	2	persistence	persistence	NOUN
ajfa-1874	235	3	is	be	AUX
ajfa-1874	235	4	tested	test	VERB
ajfa-1874	235	5	for	for	ADP
ajfa-1874	235	6	sample	sample	NOUN
ajfa-1874	235	7	series	series	NOUN
ajfa-1874	235	8	to	to	PART
ajfa-1874	235	9	test	test	VERB
ajfa-1874	235	10	the	the	DET
ajfa-1874	235	11	effect	effect	NOUN
ajfa-1874	235	12	of	of	ADP
ajfa-1874	235	13	shocks	shock	NOUN
ajfa-1874	235	14	,	,	PUNCT
ajfa-1874	235	15	which	which	PRON
ajfa-1874	235	16	is	be	AUX
ajfa-1874	235	17	an	an	DET
ajfa-1874	235	18	indicator	indicator	NOUN
ajfa-1874	235	19	of	of	ADP
ajfa-1874	235	20	market	market	NOUN
ajfa-1874	235	21	efficiency	efficiency	NOUN
ajfa-1874	235	22	.	.	PUNCT
ajfa-1874	236	1	it	it	PRON
ajfa-1874	236	2	means	mean	VERB
ajfa-1874	236	3	persistence	persistence	NOUN
ajfa-1874	236	4	of	of	ADP
ajfa-1874	236	5	volatility	volatility	NOUN
ajfa-1874	236	6	that	that	SCONJ
ajfa-1874	236	7	today	today	NOUN
ajfa-1874	236	8	’s	’s	PART
ajfa-1874	236	9	volatility	volatility	NOUN
ajfa-1874	236	10	is	be	AUX
ajfa-1874	236	11	due	due	ADJ
ajfa-1874	236	12	to	to	ADP
ajfa-1874	236	13	information	information	NOUN
ajfa-1874	236	14	that	that	PRON
ajfa-1874	236	15	arrived	arrive	VERB
ajfa-1874	236	16	today	today	NOUN
ajfa-1874	236	17	and	and	CCONJ
ajfa-1874	236	18	will	will	AUX
ajfa-1874	236	19	affect	affect	VERB
ajfa-1874	236	20	tomorrow	tomorrow	NOUN
ajfa-1874	236	21	’s	’s	PART
ajfa-1874	236	22	volatility	volatility	NOUN
ajfa-1874	236	23	and	and	CCONJ
ajfa-1874	236	24	volatility	volatility	NOUN
ajfa-1874	236	25	of	of	ADP
ajfa-1874	236	26	days	day	NOUN
ajfa-1874	236	27	to	to	PART
ajfa-1874	236	28	come	come	VERB
ajfa-1874	236	29	.	.	PUNCT
ajfa-1874	237	1	γf	γf	VERB
ajfa-1874	237	2	and	and	CCONJ
ajfa-1874	237	3	γs	γs	AUX
ajfa-1874	237	4	measure	measure	VERB
ajfa-1874	237	5	the	the	DET
ajfa-1874	237	6	persistence	persistence	NOUN
ajfa-1874	237	7	of	of	ADP
ajfa-1874	237	8	volatility	volatility	NOUN
ajfa-1874	237	9	in	in	ADP
ajfa-1874	237	10	spot	spot	NOUN
ajfa-1874	237	11	and	and	CCONJ
ajfa-1874	237	12	futures	future	NOUN
ajfa-1874	237	13	market	market	NOUN
ajfa-1874	237	14	.	.	PUNCT
ajfa-1874	238	1	the	the	PRON
ajfa-1874	238	2	smaller	small	ADJ
ajfa-1874	238	3	the	the	DET
ajfa-1874	238	4	absolute	absolute	ADJ
ajfa-1874	238	5	value	value	NOUN
ajfa-1874	238	6	of	of	ADP
ajfa-1874	238	7	the	the	DET
ajfa-1874	238	8	coefficient	coefficient	NOUN
ajfa-1874	238	9	,	,	PUNCT
ajfa-1874	238	10	the	the	DET
ajfa-1874	238	11	less	less	ADV
ajfa-1874	238	12	persistent	persistent	ADJ
ajfa-1874	238	13	volatility	volatility	NOUN
ajfa-1874	238	14	is	be	AUX
ajfa-1874	238	15	after	after	ADP
ajfa-1874	238	16	a	a	DET
ajfa-1874	238	17	shock	shock	NOUN
ajfa-1874	238	18	.	.	PUNCT
ajfa-1874	239	1	volatility	volatility	NOUN
ajfa-1874	239	2	persistence	persistence	NOUN
ajfa-1874	239	3	is	be	AUX
ajfa-1874	239	4	significant	significant	ADJ
ajfa-1874	239	5	for	for	SCONJ
ajfa-1874	239	6	both	both	CCONJ
ajfa-1874	239	7	stock	stock	NOUN
ajfa-1874	239	8	market	market	NOUN
ajfa-1874	239	9	(	(	PUNCT
ajfa-1874	239	10	nifty	nifty	ADJ
ajfa-1874	239	11	)	)	PUNCT
ajfa-1874	239	12	and	and	CCONJ
ajfa-1874	239	13	fiis	fiis	NOUN
ajfa-1874	239	14	for	for	ADP
ajfa-1874	239	15	sample	sample	NOUN
ajfa-1874	239	16	series	series	NOUN
ajfa-1874	239	17	,	,	PUNCT
ajfa-1874	239	18	as	as	SCONJ
ajfa-1874	239	19	p	p	NOUN
ajfa-1874	239	20	(	(	PUNCT
ajfa-1874	239	21	value	value	NOUN
ajfa-1874	239	22	)	)	PUNCT
ajfa-1874	239	23	is	be	AUX
ajfa-1874	239	24	coming	come	VERB
ajfa-1874	239	25	less	less	ADJ
ajfa-1874	239	26	than	than	ADP
ajfa-1874	239	27	0.05	0.05	NUM
ajfa-1874	239	28	.	.	PUNCT
ajfa-1874	240	1	volatility	volatility	NOUN
ajfa-1874	240	2	estimation	estimation	NOUN
ajfa-1874	240	3	is	be	AUX
ajfa-1874	240	4	important	important	ADJ
ajfa-1874	240	5	for	for	ADP
ajfa-1874	240	6	several	several	ADJ
ajfa-1874	240	7	reasons	reason	NOUN
ajfa-1874	240	8	and	and	CCONJ
ajfa-1874	240	9	for	for	ADP
ajfa-1874	240	10	different	different	ADJ
ajfa-1874	240	11	people	people	NOUN
ajfa-1874	240	12	in	in	ADP
ajfa-1874	240	13	the	the	DET
ajfa-1874	240	14	market	market	NOUN
ajfa-1874	240	15	pricing	pricing	NOUN
ajfa-1874	240	16	of	of	ADP
ajfa-1874	240	17	securities	security	NOUN
ajfa-1874	240	18	is	be	AUX
ajfa-1874	240	19	supposed	suppose	VERB
ajfa-1874	240	20	to	to	PART
ajfa-1874	240	21	be	be	AUX
ajfa-1874	240	22	dependent	dependent	ADJ
ajfa-1874	240	23	on	on	ADP
ajfa-1874	240	24	volatility	volatility	NOUN
ajfa-1874	240	25	of	of	ADP
ajfa-1874	240	26	each	each	DET
ajfa-1874	240	27	asset	asset	NOUN
ajfa-1874	240	28	.	.	PUNCT
ajfa-1874	241	1	market	market	NOUN
ajfa-1874	241	2	prices	price	NOUN
ajfa-1874	241	3	tend	tend	VERB
ajfa-1874	241	4	to	to	PART
ajfa-1874	241	5	exhibit	exhibit	VERB
ajfa-1874	241	6	periods	period	NOUN
ajfa-1874	241	7	of	of	ADP
ajfa-1874	241	8	high	high	ADJ
ajfa-1874	241	9	and	and	CCONJ
ajfa-1874	241	10	low	low	ADJ
ajfa-1874	241	11	volatility	volatility	NOUN
ajfa-1874	241	12	.	.	PUNCT
ajfa-1874	242	1	this	this	DET
ajfa-1874	242	2	sort	sort	NOUN
ajfa-1874	242	3	of	of	ADP
ajfa-1874	242	4	behaviour	behaviour	NOUN
ajfa-1874	242	5	is	be	AUX
ajfa-1874	242	6	called	call	VERB
ajfa-1874	242	7	volatility	volatility	NOUN
ajfa-1874	242	8	clustering	clustering	NOUN
ajfa-1874	242	9	.	.	PUNCT
ajfa-1874	243	1	volatility	volatility	NOUN
ajfa-1874	243	2	clustering	clustering	NOUN
ajfa-1874	243	3	is	be	AUX
ajfa-1874	243	4	tested	test	VERB
ajfa-1874	243	5	for	for	ADP
ajfa-1874	243	6	the	the	DET
ajfa-1874	243	7	sample	sample	NOUN
ajfa-1874	243	8	,	,	PUNCT
ajfa-1874	243	9	which	which	PRON
ajfa-1874	243	10	means	mean	VERB
ajfa-1874	243	11	as	as	SCONJ
ajfa-1874	243	12	noted	note	VERB
ajfa-1874	243	13	by	by	ADP
ajfa-1874	243	14	mandelbrot	mandelbrot	NOUN
ajfa-1874	243	15	(	(	PUNCT
ajfa-1874	243	16	1963	1963	NUM
ajfa-1874	243	17	)	)	PUNCT
ajfa-1874	243	18	,	,	PUNCT
ajfa-1874	243	19	“	"	PUNCT
ajfa-1874	243	20	large	large	ADJ
ajfa-1874	243	21	changes	change	NOUN
ajfa-1874	243	22	tend	tend	VERB
ajfa-1874	243	23	to	to	PART
ajfa-1874	243	24	be	be	AUX
ajfa-1874	243	25	followed	follow	VERB
ajfa-1874	243	26	by	by	ADP
ajfa-1874	243	27	large	large	ADJ
ajfa-1874	243	28	changes	change	NOUN
ajfa-1874	243	29	,	,	PUNCT
ajfa-1874	243	30	of	of	ADP
ajfa-1874	243	31	either	either	DET
ajfa-1874	243	32	sign	sign	NOUN
ajfa-1874	243	33	,	,	PUNCT
ajfa-1874	243	34	and	and	CCONJ
ajfa-1874	243	35	small	small	ADJ
ajfa-1874	243	36	changes	change	NOUN
ajfa-1874	243	37	tend	tend	VERB
ajfa-1874	243	38	to	to	PART
ajfa-1874	243	39	be	be	AUX
ajfa-1874	243	40	followed	follow	VERB
ajfa-1874	243	41	by	by	ADP
ajfa-1874	243	42	small	small	ADJ
ajfa-1874	243	43	changes	change	NOUN
ajfa-1874	243	44	.	.	PUNCT
ajfa-1874	243	45	”	"	PUNCT
ajfa-1874	244	1	a	a	DET
ajfa-1874	244	2	quantitative	quantitative	ADJ
ajfa-1874	244	3	manifestation	manifestation	NOUN
ajfa-1874	244	4	of	of	ADP
ajfa-1874	244	5	this	this	DET
ajfa-1874	244	6	fact	fact	NOUN
ajfa-1874	244	7	is	be	AUX
ajfa-1874	244	8	that	that	SCONJ
ajfa-1874	244	9	,	,	PUNCT
ajfa-1874	244	10	while	while	SCONJ
ajfa-1874	244	11	returns	return	NOUN
ajfa-1874	244	12	themselves	themselves	PRON
ajfa-1874	244	13	are	be	AUX
ajfa-1874	244	14	uncorrelated	uncorrelated	ADJ
ajfa-1874	244	15	,	,	PUNCT
ajfa-1874	244	16	absolute	absolute	ADJ
ajfa-1874	244	17	returns	return	NOUN
ajfa-1874	244	18	|rt|	|rt|	VERB
ajfa-1874	244	19	or	or	CCONJ
ajfa-1874	244	20	their	their	PRON
ajfa-1874	244	21	squares	square	NOUN
ajfa-1874	244	22	display	display	VERB
ajfa-1874	244	23	a	a	DET
ajfa-1874	244	24	positive	positive	ADJ
ajfa-1874	244	25	,	,	PUNCT
ajfa-1874	244	26	significant	significant	ADJ
ajfa-1874	244	27	and	and	CCONJ
ajfa-1874	244	28	slowly	slowly	ADV
ajfa-1874	244	29	decaying	decay	VERB
ajfa-1874	244	30	autocorrelation	autocorrelation	NOUN
ajfa-1874	244	31	function	function	NOUN
ajfa-1874	244	32	:	:	PUNCT
ajfa-1874	244	33	corr	corr	NOUN
ajfa-1874	244	34	(	(	PUNCT
ajfa-1874	244	35	|rt|,|rt+τ	|rt|,|rt+τ	PROPN
ajfa-1874	244	36	|	|	ADV
ajfa-1874	244	37	)	)	PUNCT
ajfa-1874	244	38	>	>	X
ajfa-1874	244	39	0	0	PUNCT
ajfa-1874	244	40	for	for	ADP
ajfa-1874	244	41	τ	τ	PROPN
ajfa-1874	244	42	asian	asian	PROPN
ajfa-1874	244	43	journal	journal	PROPN
ajfa-1874	244	44	of	of	ADP
ajfa-1874	244	45	finance	finance	PROPN
ajfa-1874	244	46	&	&	CCONJ
ajfa-1874	244	47	accounting	accounting	PROPN
ajfa-1874	244	48	issn	issn	PROPN
ajfa-1874	244	49	1946	1946	NUM
ajfa-1874	244	50	-	-	PUNCT
ajfa-1874	244	51	052x	052x	NOUN
ajfa-1874	244	52	2012	2012	NUM
ajfa-1874	244	53	,	,	PUNCT
ajfa-1874	244	54	vol	vol	NOUN
ajfa-1874	244	55	.	.	PROPN
ajfa-1874	244	56	4	4	NUM
ajfa-1874	244	57	,	,	PUNCT
ajfa-1874	244	58	no	no	INTJ
ajfa-1874	244	59	.	.	NOUN
ajfa-1874	244	60	2	2	NUM
ajfa-1874	244	61	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-1874	244	62	32	32	NUM
ajfa-1874	244	63	ranging	range	VERB
ajfa-1874	244	64	from	from	ADP
ajfa-1874	244	65	a	a	DET
ajfa-1874	244	66	few	few	ADJ
ajfa-1874	244	67	minutes	minute	NOUN
ajfa-1874	244	68	to	to	ADP
ajfa-1874	244	69	a	a	DET
ajfa-1874	244	70	several	several	ADJ
ajfa-1874	244	71	weeks	week	NOUN
ajfa-1874	244	72	.	.	PUNCT
ajfa-1874	245	1	the	the	DET
ajfa-1874	245	2	market	market	NOUN
ajfa-1874	245	3	-	-	PUNCT
ajfa-1874	245	4	specific	specific	ADJ
ajfa-1874	245	5	volatility	volatility	NOUN
ajfa-1874	245	6	clustering	cluster	VERB
ajfa-1874	245	7	coefficients	coefficient	NOUN
ajfa-1874	245	8	are	be	AUX
ajfa-1874	245	9	all	all	PRON
ajfa-1874	245	10	positively	positively	ADV
ajfa-1874	245	11	significant	significant	ADJ
ajfa-1874	245	12	at	at	ADP
ajfa-1874	245	13	5	5	NUM
ajfa-1874	245	14	%	%	NOUN
ajfa-1874	245	15	level	level	NOUN
ajfa-1874	245	16	in	in	ADP
ajfa-1874	245	17	the	the	DET
ajfa-1874	245	18	fiis	fiis	NOUN
ajfa-1874	245	19	and	and	CCONJ
ajfa-1874	245	20	stock	stock	NOUN
ajfa-1874	245	21	markets	market	NOUN
ajfa-1874	245	22	.	.	PUNCT
ajfa-1874	246	1	of	of	ADP
ajfa-1874	246	2	course	course	NOUN
ajfa-1874	246	3	,	,	PUNCT
ajfa-1874	246	4	we	we	PRON
ajfa-1874	246	5	can	can	AUX
ajfa-1874	246	6	understand	understand	VERB
ajfa-1874	246	7	the	the	DET
ajfa-1874	246	8	efficiency	efficiency	NOUN
ajfa-1874	246	9	degree	degree	NOUN
ajfa-1874	246	10	in	in	ADP
ajfa-1874	246	11	stock	stock	NOUN
ajfa-1874	246	12	-	-	PUNCT
ajfa-1874	246	13	fiis	fiis	NOUN
ajfa-1874	246	14	market	market	NOUN
ajfa-1874	246	15	from	from	ADP
ajfa-1874	246	16	one	one	NUM
ajfa-1874	246	17	side	side	NOUN
ajfa-1874	246	18	according	accord	VERB
ajfa-1874	246	19	to	to	ADP
ajfa-1874	246	20	the	the	DET
ajfa-1874	246	21	magnitude	magnitude	NOUN
ajfa-1874	246	22	of	of	ADP
ajfa-1874	246	23	correlative	correlative	ADJ
ajfa-1874	246	24	coefficients	coefficient	NOUN
ajfa-1874	246	25	.	.	PUNCT
ajfa-1874	247	1	therefore	therefore	ADV
ajfa-1874	247	2	,	,	PUNCT
ajfa-1874	247	3	the	the	DET
ajfa-1874	247	4	bivariate	bivariate	ADJ
ajfa-1874	247	5	egarch	egarch	NOUN
ajfa-1874	247	6	model	model	NOUN
ajfa-1874	247	7	indicates	indicate	VERB
ajfa-1874	247	8	that	that	SCONJ
ajfa-1874	247	9	past	past	ADJ
ajfa-1874	247	10	innovations	innovation	NOUN
ajfa-1874	247	11	in	in	ADP
ajfa-1874	247	12	fiis	fiis	NOUN
ajfa-1874	247	13	significantly	significantly	ADV
ajfa-1874	247	14	influence	influence	VERB
ajfa-1874	247	15	stock	stock	NOUN
ajfa-1874	247	16	market	market	NOUN
ajfa-1874	247	17	volatility	volatility	NOUN
ajfa-1874	247	18	and	and	CCONJ
ajfa-1874	247	19	vice	vice	NOUN
ajfa-1874	247	20	versa	versa	ADV
ajfa-1874	247	21	.	.	PUNCT
ajfa-1874	248	1	finally	finally	ADV
ajfa-1874	248	2	arch	arch	VERB
ajfa-1874	248	3	lagrange	lagrange	PROPN
ajfa-1874	248	4	multiplier	multiplier	ADV
ajfa-1874	248	5	(	(	PUNCT
ajfa-1874	248	6	lm	lm	INTJ
ajfa-1874	248	7	)	)	PUNCT
ajfa-1874	248	8	tests	test	NOUN
ajfa-1874	248	9	are	be	AUX
ajfa-1874	248	10	used	use	VERB
ajfa-1874	248	11	to	to	PART
ajfa-1874	248	12	test	test	VERB
ajfa-1874	248	13	whether	whether	SCONJ
ajfa-1874	248	14	the	the	DET
ajfa-1874	248	15	standardized	standardized	ADJ
ajfa-1874	248	16	residuals	residual	NOUN
ajfa-1874	248	17	of	of	ADP
ajfa-1874	248	18	bivariate	bivariate	ADJ
ajfa-1874	248	19	e	e	ADJ
ajfa-1874	248	20	-	-	ADJ
ajfa-1874	248	21	garch	garch	ADJ
ajfa-1874	248	22	model	model	NOUN
ajfa-1874	248	23	exhibit	exhibit	VERB
ajfa-1874	248	24	additional	additional	ADJ
ajfa-1874	248	25	arch	arch	NOUN
ajfa-1874	248	26	.	.	PUNCT
ajfa-1874	249	1	the	the	DET
ajfa-1874	249	2	results	result	NOUN
ajfa-1874	249	3	reveal	reveal	VERB
ajfa-1874	249	4	that	that	SCONJ
ajfa-1874	249	5	egarch	egarch	NOUN
ajfa-1874	249	6	(	(	PUNCT
ajfa-1874	249	7	1	1	NUM
ajfa-1874	249	8	,	,	PUNCT
ajfa-1874	249	9	1	1	X
ajfa-1874	249	10	)	)	PUNCT
ajfa-1874	249	11	capture	capture	VERB
ajfa-1874	249	12	the	the	DET
ajfa-1874	249	13	entire	entire	ADJ
ajfa-1874	249	14	volatility	volatility	NOUN
ajfa-1874	249	15	dynamics	dynamic	NOUN
ajfa-1874	249	16	see	see	VERB
ajfa-1874	249	17	table	table	NOUN
ajfa-1874	249	18	vii	vii	PROPN
ajfa-1874	249	19	.	.	PROPN
ajfa-1874	250	1	5	5	NUM
ajfa-1874	250	2	.	.	X
ajfa-1874	250	3	summary	summary	NOUN
ajfa-1874	250	4	and	and	CCONJ
ajfa-1874	250	5	conclusions	conclusion	NOUN
ajfa-1874	250	6	foreign	foreign	ADJ
ajfa-1874	250	7	institutional	institutional	ADJ
ajfa-1874	250	8	investors	investor	NOUN
ajfa-1874	250	9	have	have	AUX
ajfa-1874	250	10	gained	gain	VERB
ajfa-1874	250	11	a	a	DET
ajfa-1874	250	12	significant	significant	ADJ
ajfa-1874	250	13	role	role	NOUN
ajfa-1874	250	14	in	in	ADP
ajfa-1874	250	15	indian	indian	ADJ
ajfa-1874	250	16	stock	stock	NOUN
ajfa-1874	250	17	markets	market	NOUN
ajfa-1874	250	18	.	.	PUNCT
ajfa-1874	251	1	the	the	DET
ajfa-1874	251	2	dawn	dawn	NOUN
ajfa-1874	251	3	of	of	ADP
ajfa-1874	251	4	21st	21st	ADJ
ajfa-1874	251	5	century	century	NOUN
ajfa-1874	251	6	has	have	AUX
ajfa-1874	251	7	shown	show	VERB
ajfa-1874	251	8	the	the	DET
ajfa-1874	251	9	real	real	ADJ
ajfa-1874	251	10	dynamism	dynamism	NOUN
ajfa-1874	251	11	of	of	ADP
ajfa-1874	251	12	stock	stock	NOUN
ajfa-1874	251	13	market	market	NOUN
ajfa-1874	251	14	and	and	CCONJ
ajfa-1874	251	15	the	the	DET
ajfa-1874	251	16	various	various	ADJ
ajfa-1874	251	17	benchmarking	benchmarking	NOUN
ajfa-1874	251	18	of	of	ADP
ajfa-1874	251	19	nifty	nifty	ADJ
ajfa-1874	251	20	index	index	NOUN
ajfa-1874	251	21	in	in	ADP
ajfa-1874	251	22	terms	term	NOUN
ajfa-1874	251	23	of	of	ADP
ajfa-1874	251	24	its	its	PRON
ajfa-1874	251	25	highest	high	ADJ
ajfa-1874	251	26	peaks	peak	NOUN
ajfa-1874	251	27	and	and	CCONJ
ajfa-1874	251	28	sudden	sudden	ADJ
ajfa-1874	251	29	falls	fall	NOUN
ajfa-1874	251	30	.	.	PUNCT
ajfa-1874	252	1	the	the	DET
ajfa-1874	252	2	literature	literature	NOUN
ajfa-1874	252	3	relating	relate	VERB
ajfa-1874	252	4	to	to	ADP
ajfa-1874	252	5	information	information	NOUN
ajfa-1874	252	6	spillover	spillover	VERB
ajfa-1874	252	7	and	and	CCONJ
ajfa-1874	252	8	volatility	volatility	NOUN
ajfa-1874	252	9	spillover	spillover	NOUN
ajfa-1874	252	10	is	be	AUX
ajfa-1874	252	11	not	not	PART
ajfa-1874	252	12	adequately	adequately	ADV
ajfa-1874	252	13	researched	research	VERB
ajfa-1874	252	14	in	in	ADP
ajfa-1874	252	15	india	india	PROPN
ajfa-1874	252	16	and	and	CCONJ
ajfa-1874	252	17	is	be	AUX
ajfa-1874	252	18	mainly	mainly	ADV
ajfa-1874	252	19	confined	confine	VERB
ajfa-1874	252	20	to	to	ADP
ajfa-1874	252	21	developed	develop	VERB
ajfa-1874	252	22	economies	economy	NOUN
ajfa-1874	252	23	.	.	PUNCT
ajfa-1874	253	1	empirical	empirical	ADJ
ajfa-1874	253	2	studies	study	NOUN
ajfa-1874	253	3	on	on	ADP
ajfa-1874	253	4	the	the	DET
ajfa-1874	253	5	subject	subject	NOUN
ajfa-1874	253	6	will	will	AUX
ajfa-1874	253	7	reduces	reduce	VERB
ajfa-1874	253	8	informational	informational	ADJ
ajfa-1874	253	9	asymmetries	asymmetry	NOUN
ajfa-1874	253	10	in	in	ADP
ajfa-1874	253	11	the	the	DET
ajfa-1874	253	12	market	market	NOUN
ajfa-1874	253	13	.	.	PUNCT
ajfa-1874	254	1	the	the	DET
ajfa-1874	254	2	present	present	ADJ
ajfa-1874	254	3	study	study	NOUN
ajfa-1874	254	4	evaluates	evaluate	VERB
ajfa-1874	254	5	informational	informational	ADJ
ajfa-1874	254	6	spillover	spillover	NOUN
ajfa-1874	254	7	and	and	CCONJ
ajfa-1874	254	8	volatility	volatility	NOUN
ajfa-1874	254	9	spillover	spillover	VERB
ajfa-1874	254	10	effects	effect	NOUN
ajfa-1874	254	11	in	in	ADP
ajfa-1874	254	12	indian	indian	ADJ
ajfa-1874	254	13	stock	stock	NOUN
ajfa-1874	254	14	market	market	NOUN
ajfa-1874	254	15	to	to	PART
ajfa-1874	254	16	bridge	bridge	VERB
ajfa-1874	254	17	the	the	DET
ajfa-1874	254	18	important	important	ADJ
ajfa-1874	254	19	gap	gap	NOUN
ajfa-1874	254	20	in	in	ADP
ajfa-1874	254	21	the	the	DET
ajfa-1874	254	22	literature	literature	NOUN
ajfa-1874	254	23	.	.	PUNCT
ajfa-1874	255	1	we	we	PRON
ajfa-1874	255	2	find	find	VERB
ajfa-1874	255	3	that	that	SCONJ
ajfa-1874	255	4	stock	stock	NOUN
ajfa-1874	255	5	market	market	NOUN
ajfa-1874	255	6	and	and	CCONJ
ajfa-1874	255	7	fiis	fiis	ADJ
ajfa-1874	255	8	prices	price	NOUN
ajfa-1874	255	9	of	of	ADP
ajfa-1874	255	10	all	all	DET
ajfa-1874	255	11	sample	sample	NOUN
ajfa-1874	255	12	commodities	commodity	NOUN
ajfa-1874	255	13	and	and	CCONJ
ajfa-1874	255	14	indices	index	NOUN
ajfa-1874	255	15	are	be	AUX
ajfa-1874	255	16	non	non	NOUN
ajfa-1874	255	17	stationary	stationary	NOUN
ajfa-1874	255	18	,	,	PUNCT
ajfa-1874	255	19	and	and	CCONJ
ajfa-1874	255	20	in	in	ADP
ajfa-1874	255	21	fact	fact	NOUN
ajfa-1874	255	22	integrated	integrate	VERB
ajfa-1874	255	23	to	to	PART
ajfa-1874	255	24	order	order	VERB
ajfa-1874	255	25	one	one	NUM
ajfa-1874	255	26	and	and	CCONJ
ajfa-1874	255	27	the	the	DET
ajfa-1874	255	28	long	long	ADJ
ajfa-1874	255	29	run	run	NOUN
ajfa-1874	255	30	equilibrium	equilibrium	NOUN
ajfa-1874	255	31	relationship	relationship	NOUN
ajfa-1874	255	32	is	be	AUX
ajfa-1874	255	33	confirmed	confirm	VERB
ajfa-1874	255	34	using	use	VERB
ajfa-1874	255	35	johansson	johansson	PROPN
ajfa-1874	255	36	cointegration	cointegration	NOUN
ajfa-1874	255	37	procedure	procedure	NOUN
ajfa-1874	255	38	.	.	PUNCT
ajfa-1874	256	1	these	these	DET
ajfa-1874	256	2	cointegration	cointegration	NOUN
ajfa-1874	256	3	results	result	NOUN
ajfa-1874	256	4	are	be	AUX
ajfa-1874	256	5	supported	support	VERB
ajfa-1874	256	6	by	by	ADP
ajfa-1874	256	7	var	var	NOUN
ajfa-1874	256	8	adequacy	adequacy	NOUN
ajfa-1874	256	9	test	test	NOUN
ajfa-1874	256	10	.	.	PUNCT
ajfa-1874	257	1	short	short	ADJ
ajfa-1874	257	2	term	term	NOUN
ajfa-1874	257	3	dynamics	dynamic	NOUN
ajfa-1874	257	4	in	in	ADP
ajfa-1874	257	5	the	the	DET
ajfa-1874	257	6	series	series	NOUN
ajfa-1874	257	7	are	be	AUX
ajfa-1874	257	8	examined	examine	VERB
ajfa-1874	257	9	using	use	VERB
ajfa-1874	257	10	vecm	vecm	NOUN
ajfa-1874	257	11	.	.	PUNCT
ajfa-1874	258	1	the	the	DET
ajfa-1874	258	2	results	result	NOUN
ajfa-1874	258	3	show	show	VERB
ajfa-1874	258	4	that	that	SCONJ
ajfa-1874	258	5	once	once	SCONJ
ajfa-1874	258	6	price	price	NOUN
ajfa-1874	258	7	relationship	relationship	NOUN
ajfa-1874	258	8	of	of	ADP
ajfa-1874	258	9	stock	stock	NOUN
ajfa-1874	258	10	and	and	CCONJ
ajfa-1874	258	11	fiis	fiis	NOUN
ajfa-1874	258	12	market	market	NOUN
ajfa-1874	258	13	deviates	deviate	VERB
ajfa-1874	258	14	away	away	ADV
ajfa-1874	258	15	from	from	ADP
ajfa-1874	258	16	the	the	DET
ajfa-1874	258	17	long	long	ADJ
ajfa-1874	258	18	run	run	NOUN
ajfa-1874	258	19	coinetgrated	coinetgrate	VERB
ajfa-1874	258	20	equilibrium	equilibrium	NOUN
ajfa-1874	258	21	,	,	PUNCT
ajfa-1874	258	22	both	both	DET
ajfa-1874	258	23	markets	market	NOUN
ajfa-1874	258	24	will	will	AUX
ajfa-1874	258	25	make	make	VERB
ajfa-1874	258	26	adjustments	adjustment	NOUN
ajfa-1874	258	27	to	to	PART
ajfa-1874	258	28	re	re	VERB
ajfa-1874	258	29	-	-	VERB
ajfa-1874	258	30	establish	establish	VERB
ajfa-1874	258	31	the	the	DET
ajfa-1874	258	32	equilibrium	equilibrium	NOUN
ajfa-1874	258	33	with	with	ADP
ajfa-1874	258	34	fiis	fiis	NOUN
ajfa-1874	258	35	is	be	AUX
ajfa-1874	258	36	greater	great	ADJ
ajfa-1874	258	37	in	in	ADP
ajfa-1874	258	38	magnitude	magnitude	NOUN
ajfa-1874	258	39	than	than	ADP
ajfa-1874	258	40	that	that	PRON
ajfa-1874	258	41	of	of	ADP
ajfa-1874	258	42	stock	stock	NOUN
ajfa-1874	258	43	market	market	NOUN
ajfa-1874	258	44	which	which	PRON
ajfa-1874	258	45	implies	imply	VERB
ajfa-1874	258	46	that	that	SCONJ
ajfa-1874	258	47	fiis	fiis	NOUN
ajfa-1874	258	48	makes	make	VERB
ajfa-1874	258	49	greater	great	ADJ
ajfa-1874	258	50	adjustment	adjustment	NOUN
ajfa-1874	258	51	in	in	ADP
ajfa-1874	258	52	order	order	NOUN
ajfa-1874	258	53	to	to	PART
ajfa-1874	258	54	re	re	VERB
ajfa-1874	258	55	-	-	VERB
ajfa-1874	258	56	establish	establish	VERB
ajfa-1874	258	57	the	the	DET
ajfa-1874	258	58	equilibrium	equilibrium	NOUN
ajfa-1874	258	59	.	.	PUNCT
ajfa-1874	259	1	the	the	DET
ajfa-1874	259	2	results	result	NOUN
ajfa-1874	259	3	of	of	ADP
ajfa-1874	259	4	vec	vec	PROPN
ajfa-1874	259	5	granger	granger	PROPN
ajfa-1874	259	6	causality	causality	PROPN
ajfa-1874	259	7	test	test	NOUN
ajfa-1874	259	8	show	show	VERB
ajfa-1874	259	9	bi	bi	ADJ
ajfa-1874	259	10	-	-	ADJ
ajfa-1874	259	11	directional	directional	ADJ
ajfa-1874	259	12	granger	granger	NOUN
ajfa-1874	259	13	lead	lead	NOUN
ajfa-1874	259	14	relationships	relationship	NOUN
ajfa-1874	259	15	between	between	ADP
ajfa-1874	259	16	the	the	DET
ajfa-1874	259	17	sample	sample	NOUN
ajfa-1874	259	18	series	series	NOUN
ajfa-1874	259	19	.	.	PUNCT
ajfa-1874	260	1	the	the	DET
ajfa-1874	260	2	variance	variance	NOUN
ajfa-1874	260	3	decomposition	decomposition	NOUN
ajfa-1874	260	4	and	and	CCONJ
ajfa-1874	260	5	impulse	impulse	ADJ
ajfa-1874	260	6	responses	response	NOUN
ajfa-1874	260	7	results	result	NOUN
ajfa-1874	260	8	reconfirm	reconfirm	VERB
ajfa-1874	260	9	the	the	DET
ajfa-1874	260	10	dominant	dominant	ADJ
ajfa-1874	260	11	role	role	NOUN
ajfa-1874	260	12	of	of	ADP
ajfa-1874	260	13	nifty	nifty	ADJ
ajfa-1874	260	14	in	in	ADP
ajfa-1874	260	15	information	information	NOUN
ajfa-1874	260	16	flow	flow	NOUN
ajfa-1874	260	17	for	for	ADP
ajfa-1874	260	18	these	these	DET
ajfa-1874	260	19	series	series	NOUN
ajfa-1874	260	20	.	.	PUNCT
ajfa-1874	261	1	next	next	ADV
ajfa-1874	261	2	,	,	PUNCT
ajfa-1874	261	3	we	we	PRON
ajfa-1874	261	4	examine	examine	VERB
ajfa-1874	261	5	the	the	DET
ajfa-1874	261	6	volatility	volatility	NOUN
ajfa-1874	261	7	spillover	spillover	VERB
ajfa-1874	261	8	effects	effect	NOUN
ajfa-1874	261	9	for	for	ADP
ajfa-1874	261	10	sample	sample	NOUN
ajfa-1874	261	11	series	series	NOUN
ajfa-1874	261	12	to	to	PART
ajfa-1874	261	13	verify	verify	VERB
ajfa-1874	261	14	whether	whether	SCONJ
ajfa-1874	261	15	any	any	DET
ajfa-1874	261	16	risk	risk	NOUN
ajfa-1874	261	17	transfer	transfer	NOUN
ajfa-1874	261	18	mechanism	mechanism	NOUN
ajfa-1874	261	19	can	can	AUX
ajfa-1874	261	20	work	work	VERB
ajfa-1874	261	21	between	between	ADP
ajfa-1874	261	22	stock	stock	NOUN
ajfa-1874	261	23	market	market	NOUN
ajfa-1874	261	24	and	and	CCONJ
ajfa-1874	261	25	fiis	fiis	NOUN
ajfa-1874	261	26	.	.	PUNCT
ajfa-1874	262	1	e	e	X
ajfa-1874	262	2	-	-	ADJ
ajfa-1874	262	3	garch	garch	ADJ
ajfa-1874	262	4	results	result	NOUN
ajfa-1874	262	5	confirm	confirm	VERB
ajfa-1874	262	6	bivariate	bivariate	ADJ
ajfa-1874	262	7	volatility	volatility	NOUN
ajfa-1874	262	8	spillover	spillover	NOUN
ajfa-1874	262	9	.	.	PUNCT
ajfa-1874	263	1	thus	thus	ADV
ajfa-1874	263	2	efficient	efficient	ADJ
ajfa-1874	263	3	hedging	hedging	NOUN
ajfa-1874	263	4	as	as	ADV
ajfa-1874	263	5	well	well	ADV
ajfa-1874	263	6	as	as	ADP
ajfa-1874	263	7	speculation	speculation	NOUN
ajfa-1874	263	8	strategies	strategy	NOUN
ajfa-1874	263	9	can	can	AUX
ajfa-1874	263	10	be	be	AUX
ajfa-1874	263	11	formed	form	VERB
ajfa-1874	263	12	for	for	ADP
ajfa-1874	263	13	theses	thesis	NOUN
ajfa-1874	263	14	commodities	commodity	NOUN
ajfa-1874	263	15	.	.	PUNCT
ajfa-1874	264	1	our	our	PRON
ajfa-1874	264	2	results	result	NOUN
ajfa-1874	264	3	are	be	AUX
ajfa-1874	264	4	in	in	ADP
ajfa-1874	264	5	conformity	conformity	NOUN
ajfa-1874	264	6	to	to	ADP
ajfa-1874	264	7	the	the	DET
ajfa-1874	264	8	studies	study	NOUN
ajfa-1874	264	9	like	like	ADP
ajfa-1874	264	10	levine	levine	PROPN
ajfa-1874	264	11	and	and	CCONJ
ajfa-1874	264	12	zervos	zervos	PROPN
ajfa-1874	264	13	(	(	PUNCT
ajfa-1874	264	14	1995	1995	NUM
ajfa-1874	264	15	)	)	PUNCT
ajfa-1874	264	16	,	,	PUNCT
ajfa-1874	264	17	,	,	PUNCT
ajfa-1874	264	18	nilsson	nilsson	PROPN
ajfa-1874	264	19	(	(	PUNCT
ajfa-1874	264	20	2002	2002	NUM
ajfa-1874	264	21	)	)	PUNCT
ajfa-1874	264	22	,	,	PUNCT
ajfa-1874	264	23	edwards	edwards	PROPN
ajfa-1874	264	24	et	et	PROPN
ajfa-1874	264	25	al	al	PROPN
ajfa-1874	264	26	(	(	PUNCT
ajfa-1874	264	27	2003	2003	NUM
ajfa-1874	264	28	)	)	PUNCT
ajfa-1874	264	29	,	,	PUNCT
ajfa-1874	264	30	gordan	gordan	PROPN
ajfa-1874	264	31	j	j	PROPN
ajfa-1874	264	32	and	and	CCONJ
ajfa-1874	264	33	p	p	PROPN
ajfa-1874	264	34	gupta	gupta	PROPN
ajfa-1874	264	35	(	(	PUNCT
ajfa-1874	264	36	2003	2003	NUM
ajfa-1874	264	37	)	)	PUNCT
ajfa-1874	264	38	,	,	PUNCT
ajfa-1874	264	39	mt	mt	PROPN
ajfa-1874	264	40	raju	raju	PROPN
ajfa-1874	264	41	et	et	PROPN
ajfa-1874	264	42	al	al	PROPN
ajfa-1874	264	43	(	(	PUNCT
ajfa-1874	264	44	2004	2004	NUM
ajfa-1874	264	45	)	)	PUNCT
ajfa-1874	264	46	harivinder	harivinder	PROPN
ajfa-1874	264	47	kaur	kaur	PROPN
ajfa-1874	264	48	’s	’s	PART
ajfa-1874	264	49	(	(	PUNCT
ajfa-1874	264	50	2004	2004	NUM
ajfa-1874	264	51	)	)	PUNCT
ajfa-1874	264	52	which	which	PRON
ajfa-1874	264	53	find	find	VERB
ajfa-1874	264	54	that	that	SCONJ
ajfa-1874	264	55	there	there	PRON
ajfa-1874	264	56	may	may	AUX
ajfa-1874	264	57	increase	increase	VERB
ajfa-1874	264	58	volatility	volatility	NOUN
ajfa-1874	264	59	after	after	ADP
ajfa-1874	264	60	liberalisation	liberalisation	NOUN
ajfa-1874	264	61	and	and	CCONJ
ajfa-1874	264	62	in	in	ADP
ajfa-1874	264	63	contrary	contrary	ADJ
ajfa-1874	264	64	to	to	ADP
ajfa-1874	264	65	the	the	DET
ajfa-1874	264	66	studies	study	NOUN
ajfa-1874	264	67	like	like	ADP
ajfa-1874	264	68	de	de	X
ajfa-1874	264	69	santis	santis	PROPN
ajfa-1874	264	70	and	and	CCONJ
ajfa-1874	264	71	imorohoroglu	imorohoroglu	PROPN
ajfa-1874	264	72	(	(	PUNCT
ajfa-1874	264	73	1994	1994	NUM
ajfa-1874	264	74	)	)	PUNCT
ajfa-1874	264	75	,	,	PUNCT
ajfa-1874	264	76	richards	richard	NOUN
ajfa-1874	264	77	(	(	PUNCT
ajfa-1874	264	78	1996	1996	NUM
ajfa-1874	264	79	)	)	PUNCT
ajfa-1874	264	80	.kim	.kim	PUNCT
ajfa-1874	264	81	and	and	CCONJ
ajfa-1874	264	82	singal	singal	PROPN
ajfa-1874	264	83	(	(	PUNCT
ajfa-1874	264	84	1997	1997	NUM
ajfa-1874	264	85	)	)	PUNCT
ajfa-1874	264	86	,	,	PUNCT
ajfa-1874	264	87	hamao	hamao	PROPN
ajfa-1874	264	88	and	and	CCONJ
ajfa-1874	264	89	mei	mei	PROPN
ajfa-1874	264	90	(	(	PUNCT
ajfa-1874	264	91	2001	2001	NUM
ajfa-1874	264	92	)	)	PUNCT
ajfa-1874	264	93	,	,	PUNCT
ajfa-1874	264	94	kaminsky	kaminsky	NOUN
ajfa-1874	264	95	and	and	CCONJ
ajfa-1874	264	96	schumkler	schumkler	NOUN
ajfa-1874	264	97	(	(	PUNCT
ajfa-1874	264	98	2001	2001	NUM
ajfa-1874	264	99	,	,	PUNCT
ajfa-1874	264	100	2002	2002	NUM
ajfa-1874	264	101	)	)	PUNCT
ajfa-1874	264	102	,	,	PUNCT
ajfa-1874	264	103	anand	anand	PROPN
ajfa-1874	264	104	bansal	bansal	NOUN
ajfa-1874	264	105	and	and	CCONJ
ajfa-1874	264	106	j.s	j.s	PROPN
ajfa-1874	264	107	.	.	PROPN
ajfa-1874	264	108	pasricha	pasricha	PROPN
ajfa-1874	264	109	(	(	PUNCT
ajfa-1874	264	110	2009	2009	NUM
ajfa-1874	264	111	)	)	PUNCT
ajfa-1874	264	112	in	in	ADP
ajfa-1874	264	113	which	which	PRON
ajfa-1874	264	114	no	no	DET
ajfa-1874	264	115	systematic	systematic	ADJ
ajfa-1874	264	116	evidence	evidence	NOUN
ajfa-1874	264	117	was	be	AUX
ajfa-1874	264	118	found	find	VERB
ajfa-1874	264	119	in	in	ADP
ajfa-1874	264	120	increasing	increase	VERB
ajfa-1874	264	121	of	of	ADP
ajfa-1874	264	122	volatility	volatility	NOUN
ajfa-1874	264	123	in	in	ADP
ajfa-1874	264	124	emerging	emerge	VERB
ajfa-1874	264	125	markets	market	NOUN
ajfa-1874	264	126	i.e.	i.e.	X
ajfa-1874	264	127	unrelated	unrelated	ADJ
ajfa-1874	264	128	to	to	ADP
ajfa-1874	264	129	the	the	DET
ajfa-1874	264	130	measure	measure	NOUN
ajfa-1874	264	131	of	of	ADP
ajfa-1874	264	132	market	market	NOUN
ajfa-1874	264	133	integration	integration	NOUN
ajfa-1874	264	134	.	.	PUNCT
ajfa-1874	265	1	we	we	PRON
ajfa-1874	265	2	conclude	conclude	VERB
ajfa-1874	265	3	that	that	SCONJ
ajfa-1874	265	4	indian	indian	ADJ
ajfa-1874	265	5	stock	stock	NOUN
ajfa-1874	265	6	market	market	NOUN
ajfa-1874	265	7	is	be	AUX
ajfa-1874	265	8	still	still	ADV
ajfa-1874	265	9	not	not	PART
ajfa-1874	265	10	perfectly	perfectly	ADV
ajfa-1874	265	11	competitive	competitive	ADJ
ajfa-1874	265	12	.	.	PUNCT
ajfa-1874	266	1	hence	hence	ADV
ajfa-1874	266	2	there	there	PRON
ajfa-1874	266	3	is	be	VERB
ajfa-1874	266	4	an	an	DET
ajfa-1874	266	5	urgent	urgent	ADJ
ajfa-1874	266	6	need	need	NOUN
ajfa-1874	266	7	that	that	SCONJ
ajfa-1874	266	8	the	the	DET
ajfa-1874	266	9	policy	policy	NOUN
ajfa-1874	266	10	makers	maker	NOUN
ajfa-1874	266	11	support	support	VERB
ajfa-1874	266	12	these	these	DET
ajfa-1874	266	13	trading	trading	NOUN
ajfa-1874	266	14	platforms	platform	NOUN
ajfa-1874	266	15	with	with	ADP
ajfa-1874	266	16	infrastructure	infrastructure	NOUN
ajfa-1874	266	17	development	development	NOUN
ajfa-1874	266	18	,	,	PUNCT
ajfa-1874	266	19	fiscal	fiscal	ADJ
ajfa-1874	266	20	incentives	incentive	NOUN
ajfa-1874	266	21	,	,	PUNCT
ajfa-1874	266	22	encouraging	encourage	VERB
ajfa-1874	266	23	product	product	NOUN
ajfa-1874	266	24	innovation	innovation	NOUN
ajfa-1874	266	25	,	,	PUNCT
ajfa-1874	266	26	widening	widen	VERB
ajfa-1874	266	27	investor	investor	NOUN
ajfa-1874	266	28	base	base	NOUN
ajfa-1874	266	29	and	and	CCONJ
ajfa-1874	266	30	investor	investor	NOUN
ajfa-1874	266	31	education	education	NOUN
ajfa-1874	266	32	so	so	SCONJ
ajfa-1874	266	33	that	that	SCONJ
ajfa-1874	266	34	they	they	PRON
ajfa-1874	266	35	are	be	AUX
ajfa-1874	266	36	able	able	ADJ
ajfa-1874	266	37	to	to	PART
ajfa-1874	266	38	realise	realise	VERB
ajfa-1874	266	39	their	their	PRON
ajfa-1874	266	40	true	true	ADJ
ajfa-1874	266	41	potential	potential	NOUN
ajfa-1874	266	42	.	.	PUNCT
ajfa-1874	267	1	asian	asian	ADJ
ajfa-1874	267	2	journal	journal	PROPN
ajfa-1874	267	3	of	of	ADP
ajfa-1874	267	4	finance	finance	PROPN
ajfa-1874	267	5	&	&	CCONJ
ajfa-1874	267	6	accounting	accounting	PROPN
ajfa-1874	267	7	issn	issn	PROPN
ajfa-1874	267	8	1946	1946	NUM
ajfa-1874	267	9	-	-	PUNCT
ajfa-1874	267	10	052x	052x	NOUN
ajfa-1874	267	11	2012	2012	NUM
ajfa-1874	267	12	,	,	PUNCT
ajfa-1874	267	13	vol	vol	NOUN
ajfa-1874	267	14	.	.	PROPN
ajfa-1874	267	15	4	4	NUM
ajfa-1874	267	16	,	,	PUNCT
ajfa-1874	267	17	no	no	INTJ
ajfa-1874	267	18	.	.	NOUN
ajfa-1874	267	19	2	2	NUM
ajfa-1874	267	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	267	21	33	33	NUM
ajfa-1874	267	22	references	reference	NOUN
ajfa-1874	267	23	aggarwal	aggarwal	PROPN
ajfa-1874	267	24	,	,	PUNCT
ajfa-1874	267	25	r.	r.	PROPN
ajfa-1874	267	26	,	,	PUNCT
ajfa-1874	267	27	c.inclan	c.inclan	NOUN
ajfa-1874	267	28	,	,	PUNCT
ajfa-1874	267	29	&	&	CCONJ
ajfa-1874	267	30	r.	r.	PROPN
ajfa-1874	267	31	leal	leal	PROPN
ajfa-1874	267	32	(	(	PUNCT
ajfa-1874	267	33	1999	1999	NUM
ajfa-1874	267	34	)	)	PUNCT
ajfa-1874	267	35	.	.	PUNCT
ajfa-1874	268	1	volatility	volatility	NOUN
ajfa-1874	268	2	in	in	ADP
ajfa-1874	268	3	emerging	emerge	VERB
ajfa-1874	268	4	stock	stock	NOUN
ajfa-1874	268	5	markets	market	NOUN
ajfa-1874	268	6	.	.	PUNCT
ajfa-1874	269	1	journal	journal	NOUN
ajfa-1874	269	2	of	of	ADP
ajfa-1874	269	3	financial	financial	ADJ
ajfa-1874	269	4	and	and	CCONJ
ajfa-1874	269	5	quantitative	quantitative	ADJ
ajfa-1874	269	6	analysis	analysis	NOUN
ajfa-1874	269	7	,	,	PUNCT
ajfa-1874	269	8	34(1	34(1	NUM
ajfa-1874	269	9	)	)	PUNCT
ajfa-1874	269	10	,	,	PUNCT
ajfa-1874	269	11	33	33	NUM
ajfa-1874	269	12	-	-	SYM
ajfa-1874	269	13	35	35	NUM
ajfa-1874	269	14	.	.	PUNCT
ajfa-1874	269	15	http://dx.doi.org/10.2307/2676245	http://dx.doi.org/10.2307/2676245	VERB
ajfa-1874	269	16	andreou	andreou	PROPN
ajfa-1874	269	17	elena	elena	PROPN
ajfa-1874	269	18	,	,	PUNCT
ajfa-1874	269	19	&	&	CCONJ
ajfa-1874	269	20	eric	eric	PROPN
ajfa-1874	269	21	ghysels	ghysels	PROPN
ajfa-1874	269	22	(	(	PUNCT
ajfa-1874	269	23	2002	2002	NUM
ajfa-1874	269	24	)	)	PUNCT
ajfa-1874	269	25	.	.	PUNCT
ajfa-1874	270	1	detecting	detect	VERB
ajfa-1874	270	2	multiple	multiple	ADJ
ajfa-1874	270	3	breaks	break	NOUN
ajfa-1874	270	4	in	in	ADP
ajfa-1874	270	5	financial	financial	ADJ
ajfa-1874	270	6	market	market	NOUN
ajfa-1874	270	7	volatility	volatility	NOUN
ajfa-1874	270	8	dynamics	dynamic	NOUN
ajfa-1874	270	9	.	.	PUNCT
ajfa-1874	271	1	discussion	discussion	NOUN
ajfa-1874	271	2	paper	paper	PROPN
ajfa-1874	271	3	2002	2002	NUM
ajfa-1874	271	4	-	-	SYM
ajfa-1874	271	5	02	02	NUM
ajfa-1874	271	6	,	,	PUNCT
ajfa-1874	271	7	department	department	NOUN
ajfa-1874	271	8	of	of	ADP
ajfa-1874	271	9	economics	economic	NOUN
ajfa-1874	271	10	,	,	PUNCT
ajfa-1874	271	11	university	university	PROPN
ajfa-1874	271	12	of	of	ADP
ajfa-1874	271	13	cyprus	cyprus	PROPN
ajfa-1874	271	14	.	.	PUNCT
ajfa-1874	272	1	anand	anand	PROPN
ajfa-1874	272	2	bansal	bansal	PROPN
ajfa-1874	272	3	,	,	PUNCT
ajfa-1874	272	4	&	&	CCONJ
ajfa-1874	272	5	j.	j.	PROPN
ajfa-1874	272	6	s.	s.	PROPN
ajfa-1874	272	7	pasricha(2009	pasricha(2009	PROPN
ajfa-1874	272	8	)	)	PUNCT
ajfa-1874	272	9	,	,	PUNCT
ajfa-1874	272	10	foreign	foreign	ADJ
ajfa-1874	272	11	institutional	institutional	ADJ
ajfa-1874	272	12	investors	investor	NOUN
ajfa-1874	272	13	impact	impact	VERB
ajfa-1874	272	14	on	on	ADP
ajfa-1874	272	15	stock	stock	NOUN
ajfa-1874	272	16	prices	price	NOUN
ajfa-1874	272	17	in	in	ADP
ajfa-1874	272	18	india	india	PROPN
ajfa-1874	272	19	.	.	PUNCT
ajfa-1874	273	1	journal	journal	PROPN
ajfa-1874	273	2	of	of	ADP
ajfa-1874	273	3	academics	academics	PROPN
ajfa-1874	273	4	research	research	NOUN
ajfa-1874	273	5	in	in	ADP
ajfa-1874	273	6	economics	economic	NOUN
ajfa-1874	273	7	,	,	PUNCT
ajfa-1874	273	8	1(2	1(2	NUM
ajfa-1874	273	9	)	)	PUNCT
ajfa-1874	273	10	,	,	PUNCT
ajfa-1874	273	11	181	181	NUM
ajfa-1874	273	12	-	-	SYM
ajfa-1874	273	13	189	189	NUM
ajfa-1874	273	14	bai	bai	PROPN
ajfa-1874	273	15	,	,	PUNCT
ajfa-1874	273	16	jushan	jushan	PROPN
ajfa-1874	273	17	,	,	PUNCT
ajfa-1874	273	18	&	&	CCONJ
ajfa-1874	273	19	pierre	pierre	PROPN
ajfa-1874	273	20	perron	perron	PROPN
ajfa-1874	273	21	,	,	PUNCT
ajfa-1874	273	22	(	(	PUNCT
ajfa-1874	273	23	1998	1998	NUM
ajfa-1874	273	24	)	)	PUNCT
ajfa-1874	273	25	.	.	PUNCT
ajfa-1874	274	1	estimating	estimate	VERB
ajfa-1874	274	2	and	and	CCONJ
ajfa-1874	274	3	testing	test	VERB
ajfa-1874	274	4	linear	linear	NOUN
ajfa-1874	274	5	models	model	NOUN
ajfa-1874	274	6	with	with	ADP
ajfa-1874	274	7	multiple	multiple	ADJ
ajfa-1874	274	8	structural	structural	ADJ
ajfa-1874	274	9	changes	change	NOUN
ajfa-1874	274	10	.	.	PUNCT
ajfa-1874	275	1	econometrica	econometrica	PROPN
ajfa-1874	275	2	,	,	PUNCT
ajfa-1874	275	3	econometric	econometric	ADJ
ajfa-1874	275	4	society	society	NOUN
ajfa-1874	275	5	,	,	PUNCT
ajfa-1874	275	6	66(1	66(1	NOUN
ajfa-1874	275	7	)	)	PUNCT
ajfa-1874	275	8	,	,	PUNCT
ajfa-1874	275	9	47	47	NUM
ajfa-1874	275	10	-	-	SYM
ajfa-1874	275	11	78	78	NUM
ajfa-1874	275	12	.	.	PUNCT
ajfa-1874	276	1	http://dx.doi.org/10.2307/2998540	http://dx.doi.org/10.2307/2998540	PROPN
ajfa-1874	276	2	bai	bai	PROPN
ajfa-1874	276	3	,	,	PUNCT
ajfa-1874	276	4	jushan	jushan	PROPN
ajfa-1874	276	5	,	,	PUNCT
ajfa-1874	276	6	&	&	CCONJ
ajfa-1874	276	7	pierre	pierre	PROPN
ajfa-1874	276	8	perron	perron	PROPN
ajfa-1874	276	9	(	(	PUNCT
ajfa-1874	276	10	2003	2003	NUM
ajfa-1874	276	11	)	)	PUNCT
ajfa-1874	276	12	.	.	PUNCT
ajfa-1874	277	1	critical	critical	ADJ
ajfa-1874	277	2	values	value	NOUN
ajfa-1874	277	3	for	for	ADP
ajfa-1874	277	4	multiple	multiple	ADJ
ajfa-1874	277	5	structural	structural	ADJ
ajfa-1874	277	6	change	change	NOUN
ajfa-1874	277	7	tests	test	NOUN
ajfa-1874	277	8	.	.	PUNCT
ajfa-1874	278	1	econometrics	econometric	NOUN
ajfa-1874	278	2	journal	journal	NOUN
ajfa-1874	278	3	,	,	PUNCT
ajfa-1874	278	4	6	6	NUM
ajfa-1874	278	5	,	,	PUNCT
ajfa-1874	278	6	72	72	NUM
ajfa-1874	278	7	-	-	SYM
ajfa-1874	278	8	78	78	NUM
ajfa-1874	278	9	.	.	PUNCT
ajfa-1874	279	1	http://dx.doi.org/10.1111/1368-423x.00102	http://dx.doi.org/10.1111/1368-423x.00102	PROPN
ajfa-1874	279	2	bekaert	bekaert	NOUN
ajfa-1874	279	3	,	,	PUNCT
ajfa-1874	279	4	geert	geert	PROPN
ajfa-1874	279	5	,	,	PUNCT
ajfa-1874	279	6	&	&	CCONJ
ajfa-1874	279	7	campbell	campbell	PROPN
ajfa-1874	279	8	r.	r.	PROPN
ajfa-1874	279	9	harvey	harvey	PROPN
ajfa-1874	279	10	(	(	PUNCT
ajfa-1874	279	11	2000	2000	NUM
ajfa-1874	279	12	)	)	PUNCT
ajfa-1874	279	13	.	.	PUNCT
ajfa-1874	280	1	foreign	foreign	ADJ
ajfa-1874	280	2	speculators	speculator	NOUN
ajfa-1874	280	3	and	and	CCONJ
ajfa-1874	280	4	emerging	emerge	VERB
ajfa-1874	280	5	equity	equity	NOUN
ajfa-1874	280	6	markets	market	NOUN
ajfa-1874	280	7	.	.	PUNCT
ajfa-1874	281	1	the	the	DET
ajfa-1874	281	2	journal	journal	PROPN
ajfa-1874	281	3	of	of	ADP
ajfa-1874	281	4	finance	finance	NOUN
ajfa-1874	281	5	,	,	PUNCT
ajfa-1874	281	6	55	55	NUM
ajfa-1874	281	7	(	(	PUNCT
ajfa-1874	281	8	2	2	NUM
ajfa-1874	281	9	)	)	PUNCT
ajfa-1874	281	10	,	,	PUNCT
ajfa-1874	281	11	565	565	NUM
ajfa-1874	281	12	-	-	SYM
ajfa-1874	281	13	613	613	NUM
ajfa-1874	281	14	.	.	PUNCT
ajfa-1874	282	1	http://dx.doi.org/10.1111/0022-1082.00220	http://dx.doi.org/10.1111/0022-1082.00220	PROPN
ajfa-1874	282	2	bekaert	bekaert	NOUN
ajfa-1874	282	3	,	,	PUNCT
ajfa-1874	282	4	g.	g.	PROPN
ajfa-1874	282	5	,	,	PUNCT
ajfa-1874	282	6	harvey	harvey	PROPN
ajfa-1874	282	7	,	,	PUNCT
ajfa-1874	282	8	c.r	c.r	PROPN
ajfa-1874	282	9	.	.	PROPN
ajfa-1874	282	10	,	,	PUNCT
ajfa-1874	282	11	&	&	CCONJ
ajfa-1874	282	12	r.l	r.l	PROPN
ajfa-1874	282	13	.	.	PROPN
ajfa-1874	282	14	lumsdaine	lumsdaine	PROPN
ajfa-1874	282	15	(	(	PUNCT
ajfa-1874	282	16	2002	2002	NUM
ajfa-1874	282	17	)	)	PUNCT
ajfa-1874	282	18	.	.	PUNCT
ajfa-1874	283	1	the	the	DET
ajfa-1874	283	2	dynamics	dynamic	NOUN
ajfa-1874	283	3	of	of	ADP
ajfa-1874	283	4	emerging	emerge	VERB
ajfa-1874	283	5	market	market	NOUN
ajfa-1874	283	6	equity	equity	NOUN
ajfa-1874	283	7	flows	flow	NOUN
ajfa-1874	283	8	.	.	PUNCT
ajfa-1874	284	1	journal	journal	NOUN
ajfa-1874	284	2	of	of	ADP
ajfa-1874	284	3	international	international	ADJ
ajfa-1874	284	4	money	money	NOUN
ajfa-1874	284	5	and	and	CCONJ
ajfa-1874	284	6	finance	finance	NOUN
ajfa-1874	284	7	,	,	PUNCT
ajfa-1874	284	8	21	21	NUM
ajfa-1874	284	9	,	,	PUNCT
ajfa-1874	284	10	295	295	NUM
ajfa-1874	284	11	-	-	SYM
ajfa-1874	284	12	350	350	NUM
ajfa-1874	284	13	.	.	PUNCT
ajfa-1874	285	1	http://dx.doi.org/10.1016/s0261-5606(02)00001-3	http://dx.doi.org/10.1016/s0261-5606(02)00001-3	NOUN
ajfa-1874	285	2	bekaert	bekaert	NOUN
ajfa-1874	285	3	,	,	PUNCT
ajfa-1874	285	4	g.	g.	PROPN
ajfa-1874	285	5	,	,	PUNCT
ajfa-1874	285	6	harvey	harvey	PROPN
ajfa-1874	285	7	,	,	PUNCT
ajfa-1874	285	8	c.r	c.r	PROPN
ajfa-1874	285	9	.	.	PROPN
ajfa-1874	285	10	,	,	PUNCT
ajfa-1874	285	11	&	&	CCONJ
ajfa-1874	285	12	r.l	r.l	PROPN
ajfa-1874	285	13	.	.	PROPN
ajfa-1874	285	14	lumsdaine	lumsdaine	PROPN
ajfa-1874	285	15	(	(	PUNCT
ajfa-1874	285	16	2002	2002	NUM
ajfa-1874	285	17	)	)	PUNCT
ajfa-1874	285	18	.	.	PUNCT
ajfa-1874	286	1	dating	date	VERB
ajfa-1874	286	2	the	the	DET
ajfa-1874	286	3	integration	integration	NOUN
ajfa-1874	286	4	of	of	ADP
ajfa-1874	286	5	world	world	NOUN
ajfa-1874	286	6	capital	capital	NOUN
ajfa-1874	286	7	markets	market	NOUN
ajfa-1874	286	8	.	.	PUNCT
ajfa-1874	287	1	journal	journal	NOUN
ajfa-1874	287	2	of	of	ADP
ajfa-1874	287	3	financial	financial	ADJ
ajfa-1874	287	4	economics	economic	NOUN
ajfa-1874	287	5	,	,	PUNCT
ajfa-1874	287	6	65	65	NUM
ajfa-1874	287	7	,	,	PUNCT
ajfa-1874	287	8	203	203	NUM
ajfa-1874	287	9	-	-	SYM
ajfa-1874	287	10	249	249	NUM
ajfa-1874	287	11	.	.	PUNCT
ajfa-1874	288	1	http://dx.doi.org/10.1016/s0304-405x(02)00139-3	http://dx.doi.org/10.1016/s0304-405x(02)00139-3	NOUN
ajfa-1874	288	2	bekaert	bekaert	NOUN
ajfa-1874	288	3	,	,	PUNCT
ajfa-1874	288	4	g.	g.	PROPN
ajfa-1874	288	5	,	,	PUNCT
ajfa-1874	288	6	harvey	harvey	PROPN
ajfa-1874	288	7	,	,	PUNCT
ajfa-1874	288	8	c.r	c.r	PROPN
ajfa-1874	288	9	.	.	PROPN
ajfa-1874	288	10	,	,	PUNCT
ajfa-1874	288	11	&	&	CCONJ
ajfa-1874	288	12	a.	a.	PROPN
ajfa-1874	288	13	ng	ng	PROPN
ajfa-1874	288	14	(	(	PUNCT
ajfa-1874	288	15	2002	2002	NUM
ajfa-1874	288	16	)	)	PUNCT
ajfa-1874	288	17	.	.	PUNCT
ajfa-1874	289	1	market	market	NOUN
ajfa-1874	289	2	integration	integration	NOUN
ajfa-1874	289	3	and	and	CCONJ
ajfa-1874	289	4	contagion	contagion	NOUN
ajfa-1874	289	5	.	.	PUNCT
ajfa-1874	290	1	mimeo	mimeo	NOUN
ajfa-1874	290	2	.	.	PUNCT
ajfa-1874	291	1	journal	journal	PROPN
ajfa-1874	291	2	of	of	ADP
ajfa-1874	291	3	development	development	NOUN
ajfa-1874	291	4	economics	economic	NOUN
ajfa-1874	291	5	,	,	PUNCT
ajfa-1874	291	6	66	66	NUM
ajfa-1874	291	7	,	,	PUNCT
ajfa-1874	291	8	465	465	NUM
ajfa-1874	291	9	-	-	SYM
ajfa-1874	291	10	504	504	NUM
ajfa-1874	291	11	.	.	PUNCT
ajfa-1874	292	1	http://dx.doi.org/10.1016/s0304-3878(01)00171-7	http://dx.doi.org/10.1016/s0304-3878(01)00171-7	PROPN
ajfa-1874	292	2	biscarri	biscarri	PROPN
ajfa-1874	292	3	,	,	PUNCT
ajfa-1874	292	4	javier	javier	PROPN
ajfa-1874	292	5	gómez	gómez	PROPN
ajfa-1874	292	6	,	,	PUNCT
ajfa-1874	292	7	&	&	CCONJ
ajfa-1874	292	8	fernando	fernando	PROPN
ajfa-1874	292	9	pérez	pérez	PROPN
ajfa-1874	292	10	de	de	PROPN
ajfa-1874	292	11	gracia	gracia	PROPN
ajfa-1874	292	12	(	(	PUNCT
ajfa-1874	292	13	2003	2003	NUM
ajfa-1874	292	14	)	)	PUNCT
ajfa-1874	292	15	.	.	PUNCT
ajfa-1874	293	1	stock	stock	NOUN
ajfa-1874	293	2	market	market	NOUN
ajfa-1874	293	3	cycles	cycle	NOUN
ajfa-1874	293	4	and	and	CCONJ
ajfa-1874	293	5	stock	stock	NOUN
ajfa-1874	293	6	market	market	NOUN
ajfa-1874	293	7	development	development	NOUN
ajfa-1874	293	8	in	in	ADP
ajfa-1874	293	9	spain	spain	PROPN
ajfa-1874	293	10	.	.	PUNCT
ajfa-1874	294	1	facultad	facultad	PROPN
ajfa-1874	294	2	de	de	PROPN
ajfa-1874	294	3	ciencias	ciencias	PROPN
ajfa-1874	294	4	económicas	económicas	PROPN
ajfa-1874	294	5	y	y	PROPN
ajfa-1874	294	6	empresariales	empresariale	VERB
ajfa-1874	294	7	universidad	universidad	PROPN
ajfa-1874	294	8	de	de	PROPN
ajfa-1874	294	9	navarra	navarra	PROPN
ajfa-1874	294	10	,	,	PUNCT
ajfa-1874	294	11	working	working	NOUN
ajfa-1874	294	12	paper	paper	NOUN
ajfa-1874	294	13	.	.	PUNCT
ajfa-1874	295	1	black	black	ADJ
ajfa-1874	295	2	,	,	PUNCT
ajfa-1874	295	3	fischer	fischer	PROPN
ajfa-1874	295	4	.	.	PUNCT
ajfa-1874	296	1	(	(	PUNCT
ajfa-1874	296	2	1976	1976	NUM
ajfa-1874	296	3	)	)	PUNCT
ajfa-1874	296	4	.	.	PUNCT
ajfa-1874	297	1	studies	study	NOUN
ajfa-1874	297	2	of	of	ADP
ajfa-1874	297	3	stock	stock	NOUN
ajfa-1874	297	4	price	price	NOUN
ajfa-1874	297	5	volatility	volatility	NOUN
ajfa-1874	297	6	changes	change	NOUN
ajfa-1874	297	7	.	.	PUNCT
ajfa-1874	298	1	proceedings	proceeding	NOUN
ajfa-1874	298	2	of	of	ADP
ajfa-1874	298	3	the	the	DET
ajfa-1874	298	4	american	american	PROPN
ajfa-1874	298	5	statistical	statistical	ADJ
ajfa-1874	298	6	association	association	NOUN
ajfa-1874	298	7	annual	annual	ADJ
ajfa-1874	298	8	meetings	meeting	NOUN
ajfa-1874	298	9	.	.	PUNCT
ajfa-1874	299	1	cecchetti	cecchetti	PROPN
ajfa-1874	299	2	,	,	PUNCT
ajfa-1874	299	3	s.	s.	PROPN
ajfa-1874	299	4	p.lam	p.lam	PROPN
ajfa-1874	299	5	,	,	PUNCT
ajfa-1874	299	6	&	&	CCONJ
ajfa-1874	299	7	n.	n.	PROPN
ajfa-1874	299	8	mark	mark	PROPN
ajfa-1874	299	9	(	(	PUNCT
ajfa-1874	299	10	1990	1990	NUM
ajfa-1874	299	11	)	)	PUNCT
ajfa-1874	299	12	.	.	PUNCT
ajfa-1874	300	1	mean	mean	VERB
ajfa-1874	300	2	reversion	reversion	NOUN
ajfa-1874	300	3	in	in	ADP
ajfa-1874	300	4	equilibrium	equilibrium	NOUN
ajfa-1874	300	5	asset	asset	NOUN
ajfa-1874	300	6	prices	price	NOUN
ajfa-1874	300	7	.	.	PUNCT
ajfa-1874	301	1	american	american	PROPN
ajfa-1874	301	2	economic	economic	PROPN
ajfa-1874	301	3	review	review	PROPN
ajfa-1874	301	4	,	,	PUNCT
ajfa-1874	301	5	80(3	80(3	NUM
ajfa-1874	301	6	)	)	PUNCT
ajfa-1874	301	7	,	,	PUNCT
ajfa-1874	301	8	398	398	NUM
ajfa-1874	301	9	–	–	PUNCT
ajfa-1874	301	10	418	418	NUM
ajfa-1874	301	11	.	.	PUNCT
ajfa-1874	302	1	chen	chen	PROPN
ajfa-1874	302	2	,	,	PUNCT
ajfa-1874	302	3	w.y	w.y	PROPN
ajfa-1874	302	4	.	.	PROPN
ajfa-1874	302	5	,	,	PUNCT
ajfa-1874	302	6	&	&	CCONJ
ajfa-1874	302	7	lian	lian	PROPN
ajfa-1874	302	8	,	,	PUNCT
ajfa-1874	302	9	k.k	k.k	PROPN
ajfa-1874	302	10	.	.	PROPN
ajfa-1874	302	11	(	(	PUNCT
ajfa-1874	302	12	2005	2005	NUM
ajfa-1874	302	13	)	)	PUNCT
ajfa-1874	302	14	.	.	PUNCT
ajfa-1874	303	1	a	a	DET
ajfa-1874	303	2	comparison	comparison	NOUN
ajfa-1874	303	3	of	of	ADP
ajfa-1874	303	4	forecasting	forecasting	NOUN
ajfa-1874	303	5	models	model	NOUN
ajfa-1874	303	6	for	for	ADP
ajfa-1874	303	7	asean	asean	ADJ
ajfa-1874	303	8	equity	equity	NOUN
ajfa-1874	303	9	markets	market	NOUN
ajfa-1874	303	10	.	.	PUNCT
ajfa-1874	304	1	sunway	sunway	ADJ
ajfa-1874	304	2	academic	academic	ADJ
ajfa-1874	304	3	journal	journal	NOUN
ajfa-1874	304	4	.	.	PUNCT
ajfa-1874	305	1	2	2	NUM
ajfa-1874	305	2	,	,	PUNCT
ajfa-1874	305	3	1	1	NUM
ajfa-1874	305	4	-	-	SYM
ajfa-1874	305	5	12	12	NUM
ajfa-1874	305	6	.	.	PUNCT
ajfa-1874	305	7	de	de	X
ajfa-1874	305	8	santis	santis	PROPN
ajfa-1874	305	9	,	,	PUNCT
ajfa-1874	305	10	giorgio	giorgio	PROPN
ajfa-1874	305	11	,	,	PUNCT
ajfa-1874	305	12	&	&	CCONJ
ajfa-1874	305	13	s.	s.	PROPN
ajfa-1874	305	14	imrohoroglu	imrohoroglu	PROPN
ajfa-1874	305	15	(	(	PUNCT
ajfa-1874	305	16	1997	1997	NUM
ajfa-1874	305	17	)	)	PUNCT
ajfa-1874	305	18	.	.	PUNCT
ajfa-1874	306	1	stock	stock	NOUN
ajfa-1874	306	2	returns	return	NOUN
ajfa-1874	306	3	and	and	CCONJ
ajfa-1874	306	4	volatility	volatility	NOUN
ajfa-1874	306	5	in	in	ADP
ajfa-1874	306	6	emerging	emerge	VERB
ajfa-1874	306	7	financial	financial	ADJ
ajfa-1874	306	8	markets	market	NOUN
ajfa-1874	306	9	.	.	PUNCT
ajfa-1874	307	1	journal	journal	NOUN
ajfa-1874	307	2	of	of	ADP
ajfa-1874	307	3	international	international	ADJ
ajfa-1874	307	4	money	money	NOUN
ajfa-1874	307	5	and	and	CCONJ
ajfa-1874	307	6	finance	finance	NOUN
ajfa-1874	307	7	,	,	PUNCT
ajfa-1874	307	8	16(4	16(4	NUM
ajfa-1874	307	9	)	)	PUNCT
ajfa-1874	307	10	,	,	PUNCT
ajfa-1874	307	11	561	561	NUM
ajfa-1874	307	12	-	-	SYM
ajfa-1874	307	13	579	579	NUM
ajfa-1874	307	14	.	.	PUNCT
ajfa-1874	308	1	asian	asian	ADJ
ajfa-1874	308	2	journal	journal	PROPN
ajfa-1874	308	3	of	of	ADP
ajfa-1874	308	4	finance	finance	PROPN
ajfa-1874	308	5	&	&	CCONJ
ajfa-1874	308	6	accounting	accounting	PROPN
ajfa-1874	308	7	issn	issn	PROPN
ajfa-1874	308	8	1946	1946	NUM
ajfa-1874	308	9	-	-	PUNCT
ajfa-1874	308	10	052x	052x	NOUN
ajfa-1874	308	11	2012	2012	NUM
ajfa-1874	308	12	,	,	PUNCT
ajfa-1874	308	13	vol	vol	NOUN
ajfa-1874	308	14	.	.	PROPN
ajfa-1874	308	15	4	4	NUM
ajfa-1874	308	16	,	,	PUNCT
ajfa-1874	308	17	no	no	INTJ
ajfa-1874	308	18	.	.	NOUN
ajfa-1874	308	19	2	2	NUM
ajfa-1874	308	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-1874	308	21	34	34	NUM
ajfa-1874	308	22	http://dx.doi.org/10.1016/s0261-5606(97)00020-x	http://dx.doi.org/10.1016/s0261-5606(97)00020-x	PROPN
ajfa-1874	308	23	edwards	edwards	PROPN
ajfa-1874	308	24	,	,	PUNCT
ajfa-1874	308	25	sebastian	sebastian	PROPN
ajfa-1874	308	26	,	,	PUNCT
ajfa-1874	308	27	javier	javier	PROPN
ajfa-1874	308	28	gómez	gómez	PROPN
ajfa-1874	308	29	biscarri	biscarri	PROPN
ajfa-1874	308	30	,	,	PUNCT
ajfa-1874	308	31	&	&	CCONJ
ajfa-1874	308	32	fernando	fernando	PROPN
ajfa-1874	308	33	pérez	pérez	PROPN
ajfa-1874	308	34	de	de	PROPN
ajfa-1874	308	35	gracia	gracia	PROPN
ajfa-1874	308	36	.	.	PUNCT
ajfa-1874	309	1	(	(	PUNCT
ajfa-1874	309	2	2003	2003	NUM
ajfa-1874	309	3	)	)	PUNCT
ajfa-1874	309	4	.	.	PUNCT
ajfa-1874	310	1	stock	stock	NOUN
ajfa-1874	310	2	market	market	NOUN
ajfa-1874	310	3	cycles	cycle	NOUN
ajfa-1874	310	4	,	,	PUNCT
ajfa-1874	310	5	financial	financial	ADJ
ajfa-1874	310	6	liberalization	liberalization	NOUN
ajfa-1874	310	7	and	and	CCONJ
ajfa-1874	310	8	volatility	volatility	NOUN
ajfa-1874	310	9	.	.	PUNCT
ajfa-1874	311	1	journal	journal	NOUN
ajfa-1874	311	2	of	of	ADP
ajfa-1874	311	3	international	international	ADJ
ajfa-1874	311	4	money	money	NOUN
ajfa-1874	311	5	and	and	CCONJ
ajfa-1874	311	6	finance	finance	NOUN
ajfa-1874	311	7	,	,	PUNCT
ajfa-1874	311	8	22	22	NUM
ajfa-1874	311	9	,	,	PUNCT
ajfa-1874	311	10	925–955	925–955	NUM
ajfa-1874	311	11	.	.	PUNCT
ajfa-1874	312	1	http://dx.doi.org/10.1016/j.jimonfin.2003.09.011	http://dx.doi.org/10.1016/j.jimonfin.2003.09.011	PROPN
ajfa-1874	312	2	edwards	edwards	PROPN
ajfa-1874	312	3	,	,	PUNCT
ajfa-1874	312	4	sebastian	sebastian	PROPN
ajfa-1874	312	5	,	,	PUNCT
ajfa-1874	312	6	javier	javier	PROPN
ajfa-1874	312	7	gómez	gómez	PROPN
ajfa-1874	312	8	biscarri	biscarri	PROPN
ajfa-1874	312	9	,	,	PUNCT
ajfa-1874	312	10	&	&	CCONJ
ajfa-1874	312	11	fernando	fernando	PROPN
ajfa-1874	312	12	pérez	pérez	PROPN
ajfa-1874	312	13	de	de	PROPN
ajfa-1874	312	14	gracia	gracia	PROPN
ajfa-1874	312	15	.	.	PUNCT
ajfa-1874	313	1	(	(	PUNCT
ajfa-1874	313	2	2003	2003	NUM
ajfa-1874	313	3	)	)	PUNCT
ajfa-1874	313	4	.	.	PUNCT
ajfa-1874	314	1	stock	stock	NOUN
ajfa-1874	314	2	market	market	NOUN
ajfa-1874	314	3	cycles	cycle	NOUN
ajfa-1874	314	4	,	,	PUNCT
ajfa-1874	314	5	financial	financial	ADJ
ajfa-1874	314	6	liberalization	liberalization	NOUN
ajfa-1874	314	7	and	and	CCONJ
ajfa-1874	314	8	volatility	volatility	NOUN
ajfa-1874	314	9	.	.	PUNCT
ajfa-1874	315	1	national	national	ADJ
ajfa-1874	315	2	bureau	bureau	PROPN
ajfa-1874	315	3	for	for	ADP
ajfa-1874	315	4	economic	economic	ADJ
ajfa-1874	315	5	research	research	NOUN
ajfa-1874	315	6	working	working	NOUN
ajfa-1874	315	7	paper	paper	NOUN
ajfa-1874	315	8	no	no	INTJ
ajfa-1874	315	9	.	.	PUNCT
ajfa-1874	316	1	9817.33	9817.33	NUM
ajfa-1874	316	2	.	.	PUNCT
ajfa-1874	317	1	edwards	edwards	PROPN
ajfa-1874	317	2	,	,	PUNCT
ajfa-1874	317	3	sebastian	sebastian	PROPN
ajfa-1874	317	4	,	,	PUNCT
ajfa-1874	317	5	&	&	CCONJ
ajfa-1874	317	6	raul	raul	PROPN
ajfa-1874	317	7	susmel	susmel	PROPN
ajfa-1874	317	8	.	.	PUNCT
ajfa-1874	318	1	(	(	PUNCT
ajfa-1874	318	2	2000	2000	NUM
ajfa-1874	318	3	)	)	PUNCT
ajfa-1874	318	4	.	.	PUNCT
ajfa-1874	319	1	interest	interest	NOUN
ajfa-1874	319	2	rate	rate	NOUN
ajfa-1874	319	3	volatility	volatility	NOUN
ajfa-1874	319	4	and	and	CCONJ
ajfa-1874	319	5	contagion	contagion	NOUN
ajfa-1874	319	6	in	in	ADP
ajfa-1874	319	7	emerging	emerge	VERB
ajfa-1874	319	8	markets	market	NOUN
ajfa-1874	319	9	:	:	PUNCT
ajfa-1874	319	10	evidence	evidence	NOUN
ajfa-1874	319	11	from	from	ADP
ajfa-1874	319	12	the	the	DET
ajfa-1874	319	13	1990s	1990s	NUM
ajfa-1874	319	14	.	.	PUNCT
ajfa-1874	320	1	national	national	ADJ
ajfa-1874	320	2	bureau	bureau	PROPN
ajfa-1874	320	3	for	for	ADP
ajfa-1874	320	4	economic	economic	ADJ
ajfa-1874	320	5	research	research	NOUN
ajfa-1874	320	6	working	working	NOUN
ajfa-1874	320	7	paper	paper	NOUN
ajfa-1874	320	8	no	no	INTJ
ajfa-1874	320	9	.	.	PROPN
ajfa-1874	320	10	7813	7813	NUM
ajfa-1874	320	11	.	.	PUNCT
ajfa-1874	321	1	engle	engle	PROPN
ajfa-1874	321	2	,	,	PUNCT
ajfa-1874	321	3	robert	robert	PROPN
ajfa-1874	321	4	,	,	PUNCT
ajfa-1874	321	5	&	&	CCONJ
ajfa-1874	321	6	c.	c.	PROPN
ajfa-1874	321	7	mustafa	mustafa	PROPN
ajfa-1874	321	8	.	.	PUNCT
ajfa-1874	322	1	(	(	PUNCT
ajfa-1874	322	2	1992	1992	NUM
ajfa-1874	322	3	)	)	PUNCT
ajfa-1874	322	4	.	.	PUNCT
ajfa-1874	323	1	implied	imply	VERB
ajfa-1874	323	2	arch	arch	ADJ
ajfa-1874	323	3	models	model	NOUN
ajfa-1874	323	4	from	from	ADP
ajfa-1874	323	5	options	option	NOUN
ajfa-1874	323	6	prices	price	NOUN
ajfa-1874	323	7	.	.	PUNCT
ajfa-1874	324	1	journal	journal	PROPN
ajfa-1874	324	2	of	of	ADP
ajfa-1874	324	3	econometrics	econometric	NOUN
ajfa-1874	324	4	,	,	PUNCT
ajfa-1874	324	5	52	52	NUM
ajfa-1874	324	6	.	.	PUNCT
ajfa-1874	325	1	289	289	NUM
ajfa-1874	325	2	-	-	SYM
ajfa-1874	325	3	311	311	NUM
ajfa-1874	325	4	.	.	PUNCT
ajfa-1874	326	1	http://dx.doi.org/10.1016/0304-4076(92)90074-2	http://dx.doi.org/10.1016/0304-4076(92)90074-2	NOUN
ajfa-1874	326	2	folkerts	folkert	NOUN
ajfa-1874	326	3	-	-	NOUN
ajfa-1874	326	4	landau	landau	NOUN
ajfa-1874	326	5	,	,	PUNCT
ajfa-1874	326	6	d.	d.	PROPN
ajfa-1874	326	7	,	,	PUNCT
ajfa-1874	326	8	&	&	CCONJ
ajfa-1874	326	9	t.	t.	PROPN
ajfa-1874	326	10	ito	ito	PROPN
ajfa-1874	326	11	.	.	PROPN
ajfa-1874	327	1	(	(	PUNCT
ajfa-1874	327	2	1995	1995	NUM
ajfa-1874	327	3	)	)	PUNCT
ajfa-1874	327	4	.	.	PUNCT
ajfa-1874	328	1	international	international	ADJ
ajfa-1874	328	2	capital	capital	NOUN
ajfa-1874	328	3	markets	market	NOUN
ajfa-1874	328	4	:	:	PUNCT
ajfa-1874	328	5	developments	development	NOUN
ajfa-1874	328	6	,	,	PUNCT
ajfa-1874	328	7	prospects	prospect	NOUN
ajfa-1874	328	8	and	and	CCONJ
ajfa-1874	328	9	policy	policy	NOUN
ajfa-1874	328	10	issues	issue	NOUN
ajfa-1874	328	11	.	.	PUNCT
ajfa-1874	329	1	international	international	ADJ
ajfa-1874	329	2	monetary	monetary	ADJ
ajfa-1874	329	3	fund	fund	NOUN
ajfa-1874	329	4	,	,	PUNCT
ajfa-1874	329	5	chapter	chapter	NOUN
ajfa-1874	329	6	i	i	PROPN
ajfa-1874	329	7	and	and	CCONJ
ajfa-1874	329	8	chapter	chapter	PROPN
ajfa-1874	329	9	vii	vii	PROPN
ajfa-1874	329	10	in	in	ADP
ajfa-1874	329	11	i.	i.	PROPN
ajfa-1874	329	12	background	background	PROPN
ajfa-1874	329	13	papers	paper	NOUN
ajfa-1874	329	14	.	.	PUNCT
ajfa-1874	330	1	forbes	forbes	PROPN
ajfa-1874	330	2	,	,	PUNCT
ajfa-1874	330	3	kristin	kristin	PROPN
ajfa-1874	330	4	j.	j.	PROPN
ajfa-1874	330	5	,	,	PUNCT
ajfa-1874	330	6	&	&	CCONJ
ajfa-1874	330	7	roberto	roberto	PROPN
ajfa-1874	330	8	rigobon	rigobon	PROPN
ajfa-1874	330	9	.	.	PUNCT
ajfa-1874	331	1	(	(	PUNCT
ajfa-1874	331	2	2002	2002	NUM
ajfa-1874	331	3	)	)	PUNCT
ajfa-1874	331	4	.	.	PUNCT
ajfa-1874	332	1	no	no	DET
ajfa-1874	332	2	contagion	contagion	NOUN
ajfa-1874	332	3	,	,	PUNCT
ajfa-1874	332	4	only	only	ADV
ajfa-1874	332	5	interdependence	interdependence	NOUN
ajfa-1874	332	6	:	:	PUNCT
ajfa-1874	332	7	measuring	measure	VERB
ajfa-1874	332	8	stock	stock	NOUN
ajfa-1874	332	9	market	market	NOUN
ajfa-1874	332	10	co	co	NOUN
ajfa-1874	332	11	movements	movement	NOUN
ajfa-1874	332	12	.	.	PUNCT
ajfa-1874	333	1	journal	journal	PROPN
ajfa-1874	333	2	of	of	ADP
ajfa-1874	333	3	finance	finance	NOUN
ajfa-1874	333	4	,	,	PUNCT
ajfa-1874	333	5	57(5	57(5	NOUN
ajfa-1874	333	6	)	)	PUNCT
ajfa-1874	333	7	,	,	PUNCT
ajfa-1874	333	8	2223	2223	NUM
ajfa-1874	333	9	-	-	SYM
ajfa-1874	333	10	2261	2261	NUM
ajfa-1874	333	11	.	.	PUNCT
ajfa-1874	334	1	http://dx.doi.org/10.1111/0022-1082.00494	http://dx.doi.org/10.1111/0022-1082.00494	NUM
ajfa-1874	334	2	hamilton	hamilton	PROPN
ajfa-1874	334	3	j.d	j.d	PROPN
ajfa-1874	334	4	.	.	PROPN
ajfa-1874	334	5	,	,	PUNCT
ajfa-1874	334	6	&	&	CCONJ
ajfa-1874	334	7	r.	r.	PROPN
ajfa-1874	334	8	susmel	susmel	PROPN
ajfa-1874	334	9	.	.	PUNCT
ajfa-1874	335	1	(	(	PUNCT
ajfa-1874	335	2	1994	1994	NUM
ajfa-1874	335	3	)	)	PUNCT
ajfa-1874	335	4	.	.	PUNCT
ajfa-1874	336	1	autoregressive	autoregressive	ADJ
ajfa-1874	336	2	conditional	conditional	ADJ
ajfa-1874	336	3	heteroscedasticity	heteroscedasticity	NOUN
ajfa-1874	336	4	and	and	CCONJ
ajfa-1874	336	5	changes	change	NOUN
ajfa-1874	336	6	in	in	ADP
ajfa-1874	336	7	regime	regime	NOUN
ajfa-1874	336	8	.	.	PUNCT
ajfa-1874	337	1	journal	journal	PROPN
ajfa-1874	337	2	of	of	ADP
ajfa-1874	337	3	econometrics	econometric	NOUN
ajfa-1874	337	4	,	,	PUNCT
ajfa-1874	337	5	64(1	64(1	NUM
ajfa-1874	337	6	-	-	SYM
ajfa-1874	337	7	2	2	NUM
ajfa-1874	337	8	)	)	PUNCT
ajfa-1874	337	9	,	,	PUNCT
ajfa-1874	337	10	307	307	NUM
ajfa-1874	337	11	-	-	SYM
ajfa-1874	337	12	333	333	NUM
ajfa-1874	337	13	.	.	PUNCT
ajfa-1874	338	1	http://dx.doi.org/10.1016/0304-4076(94)90067-1	http://dx.doi.org/10.1016/0304-4076(94)90067-1	PROPN
ajfa-1874	338	2	inclan	inclan	PROPN
ajfa-1874	338	3	,	,	PUNCT
ajfa-1874	338	4	carla	carla	PROPN
ajfa-1874	338	5	,	,	PUNCT
ajfa-1874	338	6	&	&	CCONJ
ajfa-1874	338	7	george	george	PROPN
ajfa-1874	338	8	c.	c.	PROPN
ajfa-1874	338	9	tiao	tiao	PROPN
ajfa-1874	338	10	.	.	PUNCT
ajfa-1874	338	11	(	(	PUNCT
ajfa-1874	338	12	1994	1994	NUM
ajfa-1874	338	13	)	)	PUNCT
ajfa-1874	338	14	.	.	PUNCT
ajfa-1874	339	1	use	use	NOUN
ajfa-1874	339	2	of	of	ADP
ajfa-1874	339	3	cumulative	cumulative	ADJ
ajfa-1874	339	4	sums	sum	NOUN
ajfa-1874	339	5	of	of	ADP
ajfa-1874	339	6	squares	square	NOUN
ajfa-1874	339	7	for	for	ADP
ajfa-1874	339	8	retrospective	retrospective	ADJ
ajfa-1874	339	9	detection	detection	NOUN
ajfa-1874	339	10	of	of	ADP
ajfa-1874	339	11	changes	change	NOUN
ajfa-1874	339	12	of	of	ADP
ajfa-1874	339	13	variance	variance	NOUN
ajfa-1874	339	14	.	.	PUNCT
ajfa-1874	340	1	journal	journal	PROPN
ajfa-1874	340	2	of	of	ADP
ajfa-1874	340	3	the	the	DET
ajfa-1874	340	4	american	american	PROPN
ajfa-1874	340	5	statistical	statistical	PROPN
ajfa-1874	340	6	association	association	PROPN
ajfa-1874	340	7	,	,	PUNCT
ajfa-1874	340	8	89(427	89(427	NOUN
ajfa-1874	340	9	)	)	PUNCT
ajfa-1874	340	10	,	,	PUNCT
ajfa-1874	340	11	913	913	NUM
ajfa-1874	340	12	-	-	SYM
ajfa-1874	340	13	923	923	NUM
ajfa-1874	340	14	.	.	PUNCT
ajfa-1874	341	1	kaminsky	kaminsky	PROPN
ajfa-1874	341	2	graciela	graciela	PROPN
ajfa-1874	341	3	laura	laura	PROPN
ajfa-1874	341	4	,	,	PUNCT
ajfa-1874	341	5	&	&	CCONJ
ajfa-1874	341	6	sergio	sergio	PROPN
ajfa-1874	341	7	l.	l.	PROPN
ajfa-1874	341	8	schmukler	schmukler	PROPN
ajfa-1874	341	9	.	.	PUNCT
ajfa-1874	342	1	(	(	PUNCT
ajfa-1874	342	2	2002	2002	NUM
ajfa-1874	342	3	)	)	PUNCT
ajfa-1874	342	4	.	.	PUNCT
ajfa-1874	343	1	short	short	ADJ
ajfa-1874	343	2	-	-	PUNCT
ajfa-1874	343	3	run	run	NOUN
ajfa-1874	343	4	pain	pain	NOUN
ajfa-1874	343	5	,	,	PUNCT
ajfa-1874	343	6	long	long	ADJ
ajfa-1874	343	7	-	-	PUNCT
ajfa-1874	343	8	run	run	NOUN
ajfa-1874	343	9	gain	gain	NOUN
ajfa-1874	343	10	:	:	PUNCT
ajfa-1874	343	11	the	the	DET
ajfa-1874	343	12	effects	effect	NOUN
ajfa-1874	343	13	of	of	ADP
ajfa-1874	343	14	financial	financial	ADJ
ajfa-1874	343	15	liberalization	liberalization	NOUN
ajfa-1874	343	16	.	.	PUNCT
ajfa-1874	344	1	nber	nber	PROPN
ajfa-1874	344	2	working	working	PROPN
ajfa-1874	344	3	paper	paper	PROPN
ajfa-1874	344	4	9787	9787	NUM
ajfa-1874	344	5	(	(	PUNCT
ajfa-1874	344	6	cambridge	cambridge	PROPN
ajfa-1874	344	7	,	,	PUNCT
ajfa-1874	344	8	ma	ma	PROPN
ajfa-1874	344	9	:	:	PUNCT
ajfa-1874	344	10	national	national	ADJ
ajfa-1874	344	11	bureau	bureau	PROPN
ajfa-1874	344	12	for	for	ADP
ajfa-1874	344	13	economic	economic	ADJ
ajfa-1874	344	14	research	research	NOUN
ajfa-1874	344	15	)	)	PUNCT
ajfa-1874	344	16	.	.	PUNCT
ajfa-1874	345	1	kaminsky	kaminsky	PROPN
ajfa-1874	345	2	,	,	PUNCT
ajfa-1874	345	3	g.	g.	PROPN
ajfa-1874	345	4	,	,	PUNCT
ajfa-1874	345	5	reinhart	reinhart	PROPN
ajfa-1874	345	6	,	,	PUNCT
ajfa-1874	345	7	c.	c.	PROPN
ajfa-1874	345	8	(	(	PUNCT
ajfa-1874	345	9	2002	2002	NUM
ajfa-1874	345	10	)	)	PUNCT
ajfa-1874	345	11	.	.	PUNCT
ajfa-1874	346	1	financial	financial	ADJ
ajfa-1874	346	2	markets	market	NOUN
ajfa-1874	346	3	in	in	ADP
ajfa-1874	346	4	times	time	NOUN
ajfa-1874	346	5	of	of	ADP
ajfa-1874	346	6	stress	stress	NOUN
ajfa-1874	346	7	.	.	PUNCT
ajfa-1874	347	1	journal	journal	PROPN
ajfa-1874	347	2	of	of	ADP
ajfa-1874	347	3	development	development	NOUN
ajfa-1874	347	4	economics	economic	NOUN
ajfa-1874	347	5	,	,	PUNCT
ajfa-1874	347	6	69(2	69(2	NOUN
ajfa-1874	347	7	)	)	PUNCT
ajfa-1874	347	8	,	,	PUNCT
ajfa-1874	347	9	451–470	451–470	NUM
ajfa-1874	347	10	.	.	PUNCT
ajfa-1874	348	1	http://dx.doi.org/10.1016/s0304-3878(02)00096-2	http://dx.doi.org/10.1016/s0304-3878(02)00096-2	NOUN
ajfa-1874	348	2	kaminsky	kaminsky	PROPN
ajfa-1874	348	3	,	,	PUNCT
ajfa-1874	348	4	graciela	graciela	PROPN
ajfa-1874	348	5	,	,	PUNCT
ajfa-1874	348	6	&	&	CCONJ
ajfa-1874	348	7	sergio	sergio	PROPN
ajfa-1874	348	8	schmuckler	schmuckler	PROPN
ajfa-1874	348	9	.	.	PUNCT
ajfa-1874	349	1	(	(	PUNCT
ajfa-1874	349	2	1999	1999	NUM
ajfa-1874	349	3	)	)	PUNCT
ajfa-1874	349	4	.	.	PUNCT
ajfa-1874	350	1	on	on	ADP
ajfa-1874	350	2	booms	boom	NOUN
ajfa-1874	350	3	and	and	CCONJ
ajfa-1874	350	4	crashes	crash	NOUN
ajfa-1874	350	5	:	:	PUNCT
ajfa-1874	350	6	stock	stock	NOUN
ajfa-1874	350	7	market	market	NOUN
ajfa-1874	350	8	cycles	cycle	NOUN
ajfa-1874	350	9	and	and	CCONJ
ajfa-1874	350	10	financial	financial	ADJ
ajfa-1874	350	11	liberalization	liberalization	NOUN
ajfa-1874	350	12	.	.	PUNCT
ajfa-1874	351	1	working	work	VERB
ajfa-1874	351	2	paper	paper	NOUN
ajfa-1874	351	3	,	,	PUNCT
ajfa-1874	351	4	george	george	PROPN
ajfa-1874	351	5	washington	washington	PROPN
ajfa-1874	351	6	university	university	PROPN
ajfa-1874	351	7	.	.	PUNCT
ajfa-1874	352	1	karmakar	karmakar	PROPN
ajfa-1874	352	2	,	,	PUNCT
ajfa-1874	352	3	m.	m.	NOUN
ajfa-1874	352	4	(	(	PUNCT
ajfa-1874	352	5	2006	2006	NUM
ajfa-1874	352	6	)	)	PUNCT
ajfa-1874	352	7	.	.	PUNCT
ajfa-1874	353	1	stock	stock	NOUN
ajfa-1874	353	2	market	market	NOUN
ajfa-1874	353	3	volatility	volatility	NOUN
ajfa-1874	353	4	in	in	ADP
ajfa-1874	353	5	the	the	DET
ajfa-1874	353	6	long	long	ADV
ajfa-1874	353	7	-	-	PUNCT
ajfa-1874	353	8	run	run	NOUN
ajfa-1874	353	9	,	,	PUNCT
ajfa-1874	353	10	19612005	19612005	NUM
ajfa-1874	353	11	.	.	PUNCT
ajfa-1874	354	1	economic	economic	ADJ
ajfa-1874	354	2	and	and	CCONJ
ajfa-1874	354	3	political	political	ADJ
ajfa-1874	354	4	weekly	weekly	NOUN
ajfa-1874	354	5	,	,	PUNCT
ajfa-1874	354	6	41(18	41(18	NUM
ajfa-1874	354	7	)	)	PUNCT
ajfa-1874	354	8	,	,	PUNCT
ajfa-1874	354	9	17961802	17961802	NUM
ajfa-1874	354	10	.	.	PUNCT
ajfa-1874	355	1	http://www.jstor.org/stable/4418179	http://www.jstor.org/stable/4418179	VERB
ajfa-1874	355	2	kim	kim	PROPN
ajfa-1874	355	3	,	,	PUNCT
ajfa-1874	355	4	e.h	e.h	PROPN
ajfa-1874	355	5	.	.	PROPN
ajfa-1874	355	6	,	,	PUNCT
ajfa-1874	355	7	&	&	CCONJ
ajfa-1874	355	8	v.	v.	ADP
ajfa-1874	355	9	singal	singal	PROPN
ajfa-1874	355	10	(	(	PUNCT
ajfa-1874	355	11	1994	1994	NUM
ajfa-1874	355	12	)	)	PUNCT
ajfa-1874	355	13	.	.	PUNCT
ajfa-1874	356	1	opening	opening	NOUN
ajfa-1874	356	2	up	up	ADP
ajfa-1874	356	3	of	of	ADP
ajfa-1874	356	4	stock	stock	NOUN
ajfa-1874	356	5	markets	market	NOUN
ajfa-1874	356	6	:	:	PUNCT
ajfa-1874	356	7	lessons	lesson	NOUN
ajfa-1874	356	8	from	from	ADP
ajfa-1874	356	9	emerging	emerge	VERB
ajfa-1874	356	10	economies	economy	NOUN
ajfa-1874	356	11	.	.	PUNCT
ajfa-1874	357	1	mitsui	mitsui	NOUN
ajfa-1874	357	2	life	life	PROPN
ajfa-1874	357	3	financial	financial	ADJ
ajfa-1874	357	4	research	research	NOUN
ajfa-1874	357	5	center	center	NOUN
ajfa-1874	357	6	,	,	PUNCT
ajfa-1874	357	7	working	work	VERB
ajfa-1874	357	8	paper	paper	NOUN
ajfa-1874	357	9	no	no	DET
ajfa-1874	357	10	93	93	NUM
ajfa-1874	357	11	-	-	SYM
ajfa-1874	357	12	18	18	NUM
ajfa-1874	357	13	.	.	PUNCT
ajfa-1874	358	1	http://ssrn.com/abstract=5429	http://ssrn.com/abstract=5429	PROPN
ajfa-1874	358	2	asian	asian	ADJ
ajfa-1874	358	3	journal	journal	NOUN
ajfa-1874	358	4	of	of	ADP
ajfa-1874	358	5	finance	finance	PROPN
ajfa-1874	358	6	&	&	CCONJ
ajfa-1874	358	7	accounting	accounting	PROPN
ajfa-1874	358	8	issn	issn	PROPN
ajfa-1874	358	9	1946	1946	NUM
ajfa-1874	358	10	-	-	PUNCT
ajfa-1874	358	11	052x	052x	NOUN
ajfa-1874	358	12	2012	2012	NUM
ajfa-1874	358	13	,	,	PUNCT
ajfa-1874	358	14	vol	vol	NOUN
ajfa-1874	358	15	.	.	PROPN
ajfa-1874	358	16	4	4	NUM
ajfa-1874	358	17	,	,	PUNCT
ajfa-1874	358	18	no	no	INTJ
ajfa-1874	358	19	.	.	NOUN
ajfa-1874	358	20	2	2	NUM
ajfa-1874	358	21	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	358	22	35	35	NUM
ajfa-1874	358	23	kwan	kwan	PROPN
ajfa-1874	358	24	,	,	PUNCT
ajfa-1874	358	25	b.f	b.f	PROPN
ajfa-1874	358	26	.	.	PROPN
ajfa-1874	358	27	,	,	PUNCT
ajfa-1874	358	28	&	&	CCONJ
ajfa-1874	358	29	m.g	m.g	PROPN
ajfa-1874	358	30	.	.	PROPN
ajfa-1874	358	31	reyes	reyes	PROPN
ajfa-1874	358	32	.	.	PUNCT
ajfa-1874	359	1	(	(	PUNCT
ajfa-1874	359	2	1997	1997	NUM
ajfa-1874	359	3	)	)	PUNCT
ajfa-1874	359	4	.	.	PUNCT
ajfa-1874	360	1	price	price	NOUN
ajfa-1874	360	2	effects	effect	NOUN
ajfa-1874	360	3	of	of	ADP
ajfa-1874	360	4	stock	stock	NOUN
ajfa-1874	360	5	market	market	NOUN
ajfa-1874	360	6	liberalization	liberalization	NOUN
ajfa-1874	360	7	in	in	ADP
ajfa-1874	360	8	taiwan	taiwan	PROPN
ajfa-1874	360	9	.	.	PUNCT
ajfa-1874	361	1	the	the	DET
ajfa-1874	361	2	quarterly	quarterly	ADJ
ajfa-1874	361	3	review	review	NOUN
ajfa-1874	361	4	of	of	ADP
ajfa-1874	361	5	economics	economic	NOUN
ajfa-1874	361	6	and	and	CCONJ
ajfa-1874	361	7	finance	finance	NOUN
ajfa-1874	361	8	,	,	PUNCT
ajfa-1874	361	9	37(2	37(2	PROPN
ajfa-1874	361	10	)	)	PUNCT
ajfa-1874	361	11	,	,	PUNCT
ajfa-1874	361	12	511	511	NUM
ajfa-1874	361	13	-	-	SYM
ajfa-1874	361	14	522	522	NUM
ajfa-1874	361	15	.	.	PUNCT
ajfa-1874	362	1	http://dx.doi.org/10.1016/s1062-9769(97)90040-5	http://dx.doi.org/10.1016/s1062-9769(97)90040-5	NOUN
ajfa-1874	362	2	lamoureux	lamoureux	PROPN
ajfa-1874	362	3	,	,	PUNCT
ajfa-1874	362	4	christopher	christopher	PROPN
ajfa-1874	362	5	g.	g.	PROPN
ajfa-1874	362	6	,	,	PUNCT
ajfa-1874	362	7	&	&	CCONJ
ajfa-1874	362	8	william	william	PROPN
ajfa-1874	362	9	d.	d.	PROPN
ajfa-1874	362	10	lastrapes	lastrapes	PROPN
ajfa-1874	362	11	.	.	PUNCT
ajfa-1874	363	1	(	(	PUNCT
ajfa-1874	363	2	1990	1990	NUM
ajfa-1874	363	3	)	)	PUNCT
ajfa-1874	363	4	.	.	PUNCT
ajfa-1874	364	1	persistence	persistence	NOUN
ajfa-1874	364	2	in	in	ADP
ajfa-1874	364	3	variance	variance	NOUN
ajfa-1874	364	4	,	,	PUNCT
ajfa-1874	364	5	structural	structural	ADJ
ajfa-1874	364	6	change	change	NOUN
ajfa-1874	364	7	and	and	CCONJ
ajfa-1874	364	8	the	the	DET
ajfa-1874	364	9	garch	garch	NOUN
ajfa-1874	364	10	model	model	NOUN
ajfa-1874	364	11	.	.	PUNCT
ajfa-1874	365	1	journal	journal	PROPN
ajfa-1874	365	2	of	of	ADP
ajfa-1874	365	3	business	business	NOUN
ajfa-1874	365	4	and	and	CCONJ
ajfa-1874	365	5	economic	economic	ADJ
ajfa-1874	365	6	statistics	statistic	NOUN
ajfa-1874	365	7	,	,	PUNCT
ajfa-1874	365	8	8(2	8(2	NUM
ajfa-1874	365	9	)	)	PUNCT
ajfa-1874	365	10	,	,	PUNCT
ajfa-1874	365	11	225	225	NUM
ajfa-1874	365	12	-	-	SYM
ajfa-1874	365	13	234	234	NUM
ajfa-1874	365	14	.	.	PUNCT
ajfa-1874	366	1	http://dx.doi.org/10.2307/1391985	http://dx.doi.org/10.2307/1391985	PROPN
ajfa-1874	366	2	lastrapes	lastrapes	PROPN
ajfa-1874	366	3	,	,	PUNCT
ajfa-1874	366	4	w.d	w.d	PROPN
ajfa-1874	366	5	.	.	PROPN
ajfa-1874	366	6	(	(	PUNCT
ajfa-1874	366	7	1989	1989	NUM
ajfa-1874	366	8	)	)	PUNCT
ajfa-1874	366	9	.	.	PUNCT
ajfa-1874	367	1	exchange	exchange	NOUN
ajfa-1874	367	2	rate	rate	NOUN
ajfa-1874	367	3	volatility	volatility	NOUN
ajfa-1874	367	4	and	and	CCONJ
ajfa-1874	367	5	us	we	PRON
ajfa-1874	367	6	monetary	monetary	ADJ
ajfa-1874	367	7	policy	policy	NOUN
ajfa-1874	367	8	:	:	PUNCT
ajfa-1874	367	9	an	an	DET
ajfa-1874	367	10	arch	arch	ADJ
ajfa-1874	367	11	application	application	NOUN
ajfa-1874	367	12	.	.	PUNCT
ajfa-1874	368	1	journal	journal	NOUN
ajfa-1874	368	2	of	of	ADP
ajfa-1874	368	3	money	money	NOUN
ajfa-1874	368	4	,	,	PUNCT
ajfa-1874	368	5	credit	credit	NOUN
ajfa-1874	368	6	and	and	CCONJ
ajfa-1874	368	7	banking	banking	NOUN
ajfa-1874	368	8	,	,	PUNCT
ajfa-1874	368	9	21(1	21(1	NUM
ajfa-1874	368	10	)	)	PUNCT
ajfa-1874	368	11	,	,	PUNCT
ajfa-1874	368	12	66	66	NUM
ajfa-1874	368	13	-	-	SYM
ajfa-1874	368	14	77	77	NUM
ajfa-1874	368	15	.	.	PUNCT
ajfa-1874	369	1	http://dx.doi.org/10.2307/1992578	http://dx.doi.org/10.2307/1992578	PROPN
ajfa-1874	369	2	lanne	lanne	PROPN
ajfa-1874	369	3	,	,	PUNCT
ajfa-1874	369	4	m.	m.	NOUN
ajfa-1874	369	5	,	,	PUNCT
ajfa-1874	369	6	&	&	CCONJ
ajfa-1874	369	7	saikkonen	saikkonen	PROPN
ajfa-1874	369	8	pentti	pentti	PROPN
ajfa-1874	369	9	(	(	PUNCT
ajfa-1874	369	10	2005	2005	NUM
ajfa-1874	369	11	)	)	PUNCT
ajfa-1874	369	12	.	.	PUNCT
ajfa-1874	370	1	nonlinear	nonlinear	ADJ
ajfa-1874	370	2	garch	garch	NOUN
ajfa-1874	370	3	models	model	NOUN
ajfa-1874	370	4	for	for	ADP
ajfa-1874	370	5	highly	highly	ADV
ajfa-1874	370	6	persistent	persistent	ADJ
ajfa-1874	370	7	volatility	volatility	NOUN
ajfa-1874	370	8	.	.	PUNCT
ajfa-1874	371	1	econometrics	econometric	NOUN
ajfa-1874	371	2	journal	journal	NOUN
ajfa-1874	371	3	,	,	PUNCT
ajfa-1874	371	4	8	8	NUM
ajfa-1874	371	5	,	,	PUNCT
ajfa-1874	371	6	251–276	251–276	NUM
ajfa-1874	371	7	.	.	PUNCT
ajfa-1874	372	1	http://dx.doi.org/10.1111/j.1368-423x.2005.00163.x	http://dx.doi.org/10.1111/j.1368-423x.2005.00163.x	PROPN
ajfa-1874	372	2	levine	levine	PROPN
ajfa-1874	372	3	,	,	PUNCT
ajfa-1874	372	4	ross	ross	PROPN
ajfa-1874	372	5	,	,	PUNCT
ajfa-1874	372	6	&	&	CCONJ
ajfa-1874	372	7	sara	sara	PROPN
ajfa-1874	372	8	j.	j.	PROPN
ajfa-1874	372	9	zervos	zervos	PROPN
ajfa-1874	372	10	(	(	PUNCT
ajfa-1874	372	11	1998	1998	NUM
ajfa-1874	372	12	)	)	PUNCT
ajfa-1874	372	13	.	.	PUNCT
ajfa-1874	373	1	capital	capital	NOUN
ajfa-1874	373	2	control	control	NOUN
ajfa-1874	373	3	liberalization	liberalization	NOUN
ajfa-1874	373	4	and	and	CCONJ
ajfa-1874	373	5	stock	stock	NOUN
ajfa-1874	373	6	market	market	NOUN
ajfa-1874	373	7	development	development	NOUN
ajfa-1874	373	8	.	.	PUNCT
ajfa-1874	374	1	world	world	NOUN
ajfa-1874	374	2	development	development	PROPN
ajfa-1874	374	3	,	,	PUNCT
ajfa-1874	374	4	26(7	26(7	NOUN
ajfa-1874	374	5	)	)	PUNCT
ajfa-1874	374	6	,	,	PUNCT
ajfa-1874	374	7	1169–83	1169–83	X
ajfa-1874	374	8	.	.	PUNCT
ajfa-1874	374	9	http://dx.doi.org/10.1016/s0305-750x(98)00046-1	http://dx.doi.org/10.1016/s0305-750x(98)00046-1	NOUN
ajfa-1874	374	10	maekawa	maekawa	PROPN
ajfa-1874	374	11	,	,	PUNCT
ajfa-1874	374	12	koichi	koichi	PROPN
ajfa-1874	374	13	,	,	PUNCT
ajfa-1874	374	14	sangyeol	sangyeol	ADV
ajfa-1874	374	15	lee	lee	PROPN
ajfa-1874	374	16	,	,	PUNCT
ajfa-1874	374	17	&	&	CCONJ
ajfa-1874	374	18	yasuyoshi	yasuyoshi	PROPN
ajfa-1874	374	19	tokutso	tokutso	PROPN
ajfa-1874	374	20	.	.	PUNCT
ajfa-1874	375	1	(	(	PUNCT
ajfa-1874	375	2	2005	2005	NUM
ajfa-1874	375	3	)	)	PUNCT
ajfa-1874	375	4	.	.	PUNCT
ajfa-1874	376	1	a	a	DET
ajfa-1874	376	2	note	note	NOUN
ajfa-1874	376	3	on	on	ADP
ajfa-1874	376	4	volatility	volatility	NOUN
ajfa-1874	376	5	persistence	persistence	NOUN
ajfa-1874	376	6	and	and	CCONJ
ajfa-1874	376	7	structural	structural	ADJ
ajfa-1874	376	8	changes	change	NOUN
ajfa-1874	376	9	in	in	ADP
ajfa-1874	376	10	garch	garch	NOUN
ajfa-1874	376	11	models	model	NOUN
ajfa-1874	376	12	.	.	PUNCT
ajfa-1874	377	1	technical	technical	ADJ
ajfa-1874	377	2	report	report	PROPN
ajfa-1874	377	3	,	,	PUNCT
ajfa-1874	377	4	university	university	PROPN
ajfa-1874	377	5	of	of	ADP
ajfa-1874	377	6	hiroshima	hiroshima	PROPN
ajfa-1874	377	7	,	,	PUNCT
ajfa-1874	377	8	faculty	faculty	NOUN
ajfa-1874	377	9	of	of	ADP
ajfa-1874	377	10	economics	economic	NOUN
ajfa-1874	377	11	.	.	PUNCT
ajfa-1874	378	1	maekawa	maekawa	PROPN
ajfa-1874	378	2	,	,	PUNCT
ajfa-1874	378	3	koichi	koichi	PROPN
ajfa-1874	378	4	,	,	PUNCT
ajfa-1874	378	5	sangyeol	sangyeol	ADV
ajfa-1874	378	6	lee	lee	PROPN
ajfa-1874	378	7	,	,	PUNCT
ajfa-1874	378	8	&	&	CCONJ
ajfa-1874	378	9	yasuyoshi	yasuyoshi	PROPN
ajfa-1874	378	10	tokutso	tokutso	PROPN
ajfa-1874	378	11	.	.	PUNCT
ajfa-1874	379	1	(	(	PUNCT
ajfa-1874	379	2	2003	2003	NUM
ajfa-1874	379	3	)	)	PUNCT
ajfa-1874	379	4	.	.	PUNCT
ajfa-1874	380	1	structural	structural	ADJ
ajfa-1874	380	2	change	change	NOUN
ajfa-1874	380	3	and	and	CCONJ
ajfa-1874	380	4	spurious	spurious	ADJ
ajfa-1874	380	5	volatility	volatility	NOUN
ajfa-1874	380	6	persistence	persistence	NOUN
ajfa-1874	380	7	.	.	PUNCT
ajfa-1874	381	1	discussion	discussion	NOUN
ajfa-1874	381	2	paper	paper	NOUN
ajfa-1874	381	3	,	,	PUNCT
ajfa-1874	381	4	faculty	faculty	NOUN
ajfa-1874	381	5	of	of	ADP
ajfa-1874	381	6	economics	economic	NOUN
ajfa-1874	381	7	,	,	PUNCT
ajfa-1874	381	8	hiroshima	hiroshima	PROPN
ajfa-1874	381	9	university	university	PROPN
ajfa-1874	381	10	.	.	PUNCT
ajfa-1874	382	1	nilsson	nilsson	PROPN
ajfa-1874	382	2	,	,	PUNCT
ajfa-1874	382	3	birger	birger	PROPN
ajfa-1874	382	4	.	.	PUNCT
ajfa-1874	382	5	(	(	PUNCT
ajfa-1874	382	6	2002	2002	NUM
ajfa-1874	382	7	)	)	PUNCT
ajfa-1874	382	8	.	.	PUNCT
ajfa-1874	383	1	financial	financial	ADJ
ajfa-1874	383	2	liberalization	liberalization	NOUN
ajfa-1874	383	3	and	and	CCONJ
ajfa-1874	383	4	the	the	DET
ajfa-1874	383	5	changing	change	VERB
ajfa-1874	383	6	characteristics	characteristic	NOUN
ajfa-1874	383	7	of	of	ADP
ajfa-1874	383	8	nordic	nordic	ADJ
ajfa-1874	383	9	stock	stock	NOUN
ajfa-1874	383	10	returns	return	NOUN
ajfa-1874	383	11	.	.	PUNCT
ajfa-1874	384	1	working	work	VERB
ajfa-1874	384	2	papers	paper	NOUN
ajfa-1874	384	3	2002:4	2002:4	NUM
ajfa-1874	384	4	,	,	PUNCT
ajfa-1874	384	5	lund	lund	PROPN
ajfa-1874	384	6	university	university	PROPN
ajfa-1874	384	7	,	,	PUNCT
ajfa-1874	384	8	department	department	NOUN
ajfa-1874	384	9	of	of	ADP
ajfa-1874	384	10	economics	economic	NOUN
ajfa-1874	384	11	.	.	PUNCT
ajfa-1874	385	1	pagian	pagian	ADJ
ajfa-1874	385	2	,	,	PUNCT
ajfa-1874	385	3	adrian	adrian	PROPN
ajfa-1874	385	4	,	,	PUNCT
ajfa-1874	385	5	r.	r.	PROPN
ajfa-1874	385	6	,	,	PUNCT
ajfa-1874	385	7	&	&	CCONJ
ajfa-1874	385	8	kirill	kirill	PROPN
ajfa-1874	385	9	a.	a.	PROPN
ajfa-1874	385	10	sossounav	sossounav	PROPN
ajfa-1874	385	11	.	.	PUNCT
ajfa-1874	386	1	(	(	PUNCT
ajfa-1874	386	2	2003	2003	NUM
ajfa-1874	386	3	)	)	PUNCT
ajfa-1874	386	4	.	.	PUNCT
ajfa-1874	387	1	a	a	DET
ajfa-1874	387	2	simple	simple	ADJ
ajfa-1874	387	3	framework	framework	NOUN
ajfa-1874	387	4	for	for	ADP
ajfa-1874	387	5	analyzing	analyze	VERB
ajfa-1874	387	6	bull	bull	NOUN
ajfa-1874	387	7	and	and	CCONJ
ajfa-1874	387	8	bear	bear	NOUN
ajfa-1874	387	9	markets	market	NOUN
ajfa-1874	387	10	.	.	PUNCT
ajfa-1874	388	1	journal	journal	NOUN
ajfa-1874	388	2	of	of	ADP
ajfa-1874	388	3	applied	apply	VERB
ajfa-1874	388	4	econometrics	econometric	NOUN
ajfa-1874	388	5	,	,	PUNCT
ajfa-1874	388	6	18(1	18(1	NUM
ajfa-1874	388	7	)	)	PUNCT
ajfa-1874	388	8	,	,	PUNCT
ajfa-1874	388	9	23–46	23–46	NUM
ajfa-1874	388	10	.	.	PUNCT
ajfa-1874	389	1	http://dx.doi.org/10.1002/jae.664	http://dx.doi.org/10.1002/jae.664	PROPN
ajfa-1874	389	2	rigobon	rigobon	PROPN
ajfa-1874	389	3	,	,	PUNCT
ajfa-1874	389	4	r.	r.	PROPN
ajfa-1874	389	5	(	(	PUNCT
ajfa-1874	389	6	2003	2003	NUM
ajfa-1874	389	7	)	)	PUNCT
ajfa-1874	389	8	.	.	PUNCT
ajfa-1874	390	1	on	on	ADP
ajfa-1874	390	2	the	the	DET
ajfa-1874	390	3	measurement	measurement	NOUN
ajfa-1874	390	4	of	of	ADP
ajfa-1874	390	5	international	international	ADJ
ajfa-1874	390	6	propagation	propagation	NOUN
ajfa-1874	390	7	of	of	ADP
ajfa-1874	390	8	shocks	shock	NOUN
ajfa-1874	390	9	:	:	PUNCT
ajfa-1874	390	10	is	be	AUX
ajfa-1874	390	11	it	it	PRON
ajfa-1874	390	12	stable	stable	ADJ
ajfa-1874	390	13	?	?	PUNCT
ajfa-1874	391	1	journal	journal	NOUN
ajfa-1874	391	2	of	of	ADP
ajfa-1874	391	3	international	international	ADJ
ajfa-1874	391	4	economics	economic	NOUN
ajfa-1874	391	5	,	,	PUNCT
ajfa-1874	391	6	61	61	NUM
ajfa-1874	391	7	,	,	PUNCT
ajfa-1874	391	8	261	261	NUM
ajfa-1874	391	9	-	-	SYM
ajfa-1874	391	10	283	283	NUM
ajfa-1874	391	11	.	.	PUNCT
ajfa-1874	392	1	http://dx.doi.org/10.1016/s0022-1996(03)00007-2	http://dx.doi.org/10.1016/s0022-1996(03)00007-2	NOUN
ajfa-1874	392	2	shenbagaraman	shenbagaraman	NOUN
ajfa-1874	392	3	,	,	PUNCT
ajfa-1874	392	4	premalata	premalata	VERB
ajfa-1874	392	5	.	.	PUNCT
ajfa-1874	393	1	(	(	PUNCT
ajfa-1874	393	2	2003	2003	NUM
ajfa-1874	393	3	)	)	PUNCT
ajfa-1874	393	4	.	.	PUNCT
ajfa-1874	394	1	do	do	VERB
ajfa-1874	394	2	futures	future	NOUN
ajfa-1874	394	3	and	and	CCONJ
ajfa-1874	394	4	options	option	NOUN
ajfa-1874	394	5	trading	trading	NOUN
ajfa-1874	394	6	increase	increase	VERB
ajfa-1874	394	7	stock	stock	NOUN
ajfa-1874	394	8	market	market	NOUN
ajfa-1874	394	9	volatility	volatility	NOUN
ajfa-1874	394	10	.	.	PUNCT
ajfa-1874	395	1	nse	nse	NOUN
ajfa-1874	395	2	research	research	NOUN
ajfa-1874	395	3	initiative	initiative	NOUN
ajfa-1874	395	4	.	.	PUNCT
ajfa-1874	396	1	http://www.nseindia.com/content/research/paper60.pdf	http://www.nseindia.com/content/research/paper60.pdf	NUM
ajfa-1874	396	2	sollis	sollis	PROPN
ajfa-1874	396	3	,	,	PUNCT
ajfa-1874	396	4	r.	r.	PROPN
ajfa-1874	396	5	(	(	PUNCT
ajfa-1874	396	6	2005	2005	NUM
ajfa-1874	396	7	)	)	PUNCT
ajfa-1874	396	8	.	.	PUNCT
ajfa-1874	397	1	predicting	predict	VERB
ajfa-1874	397	2	returns	return	NOUN
ajfa-1874	397	3	and	and	CCONJ
ajfa-1874	397	4	volatility	volatility	NOUN
ajfa-1874	397	5	with	with	ADP
ajfa-1874	397	6	macro	macro	ADJ
ajfa-1874	397	7	-	-	ADJ
ajfa-1874	397	8	economic	economic	ADJ
ajfa-1874	397	9	variables	variable	NOUN
ajfa-1874	397	10	:	:	PUNCT
ajfa-1874	397	11	evidence	evidence	NOUN
ajfa-1874	397	12	from	from	ADP
ajfa-1874	397	13	tests	test	NOUN
ajfa-1874	397	14	of	of	ADP
ajfa-1874	397	15	encompassing	encompass	VERB
ajfa-1874	397	16	.	.	PUNCT
ajfa-1874	398	1	john	john	PROPN
ajfa-1874	398	2	wiley	wiley	PROPN
ajfa-1874	398	3	&	&	CCONJ
ajfa-1874	398	4	sons	sons	PROPN
ajfa-1874	398	5	ltd	ltd	PROPN
ajfa-1874	398	6	.	.	PROPN
ajfa-1874	398	7	journal	journal	PROPN
ajfa-1874	398	8	of	of	ADP
ajfa-1874	398	9	forecasting	forecasting	NOUN
ajfa-1874	398	10	.	.	PUNCT
ajfa-1874	399	1	24(3	24(3	X
ajfa-1874	399	2	)	)	PUNCT
ajfa-1874	399	3	,	,	PUNCT
ajfa-1874	399	4	221	221	NUM
ajfa-1874	399	5	-	-	SYM
ajfa-1874	399	6	231	231	NUM
ajfa-1874	399	7	.	.	PUNCT
ajfa-1874	400	1	http://dx.doi.org/10.1002/for.956	http://dx.doi.org/10.1002/for.956	PROPN
ajfa-1874	400	2	shiller	shiller	PROPN
ajfa-1874	400	3	,	,	PUNCT
ajfa-1874	400	4	r.j	r.j	PROPN
ajfa-1874	400	5	.	.	PROPN
ajfa-1874	400	6	(	(	PUNCT
ajfa-1874	400	7	1989	1989	NUM
ajfa-1874	400	8	)	)	PUNCT
ajfa-1874	400	9	.	.	PUNCT
ajfa-1874	401	1	market	market	NOUN
ajfa-1874	401	2	volatility	volatility	NOUN
ajfa-1874	401	3	.	.	PUNCT
ajfa-1874	402	1	mit	mit	PROPN
ajfa-1874	402	2	press	press	PROPN
ajfa-1874	402	3	,	,	PUNCT
ajfa-1874	402	4	cambridge	cambridge	PROPN
ajfa-1874	402	5	,	,	PUNCT
ajfa-1874	402	6	ma	ma	PROPN
ajfa-1874	402	7	.	.	PROPN
ajfa-1874	402	8	tauchen	tauchen	PROPN
ajfa-1874	402	9	,	,	PUNCT
ajfa-1874	402	10	george	george	PROPN
ajfa-1874	402	11	e.	e.	PROPN
ajfa-1874	402	12	,	,	PUNCT
ajfa-1874	402	13	&	&	CCONJ
ajfa-1874	402	14	mark	mark	PROPN
ajfa-1874	402	15	pitts	pitts	PROPN
ajfa-1874	402	16	.	.	PUNCT
ajfa-1874	403	1	(	(	PUNCT
ajfa-1874	403	2	1983	1983	NUM
ajfa-1874	403	3	)	)	PUNCT
ajfa-1874	403	4	.	.	PUNCT
ajfa-1874	404	1	the	the	DET
ajfa-1874	404	2	price	price	NOUN
ajfa-1874	404	3	variability	variability	NOUN
ajfa-1874	404	4	–	–	PUNCT
ajfa-1874	404	5	volume	volume	NOUN
ajfa-1874	404	6	relationship	relationship	NOUN
ajfa-1874	404	7	on	on	ADP
ajfa-1874	404	8	speculative	speculative	ADJ
ajfa-1874	404	9	markets	market	NOUN
ajfa-1874	404	10	.	.	PUNCT
ajfa-1874	405	1	econometrica	econometrica	PROPN
ajfa-1874	405	2	,	,	PUNCT
ajfa-1874	405	3	51(2	51(2	NUM
ajfa-1874	405	4	)	)	PUNCT
ajfa-1874	405	5	,	,	PUNCT
ajfa-1874	405	6	485505	485505	NUM
ajfa-1874	405	7	.	.	PUNCT
ajfa-1874	406	1	http://dx.doi.org/10.2307/1912002	http://dx.doi.org/10.2307/1912002	PROPN
ajfa-1874	406	2	asian	asian	PROPN
ajfa-1874	406	3	journal	journal	PROPN
ajfa-1874	406	4	of	of	ADP
ajfa-1874	406	5	finance	finance	PROPN
ajfa-1874	406	6	&	&	CCONJ
ajfa-1874	406	7	accounting	accounting	PROPN
ajfa-1874	406	8	issn	issn	PROPN
ajfa-1874	406	9	1946	1946	NUM
ajfa-1874	406	10	-	-	PUNCT
ajfa-1874	406	11	052x	052x	NOUN
ajfa-1874	406	12	2012	2012	NUM
ajfa-1874	406	13	,	,	PUNCT
ajfa-1874	406	14	vol	vol	NOUN
ajfa-1874	406	15	.	.	PROPN
ajfa-1874	406	16	4	4	NUM
ajfa-1874	406	17	,	,	PUNCT
ajfa-1874	406	18	no	no	INTJ
ajfa-1874	406	19	.	.	NOUN
ajfa-1874	406	20	2	2	NUM
ajfa-1874	406	21	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	406	22	36	36	NUM
ajfa-1874	406	23	wang	wang	PROPN
ajfa-1874	406	24	,	,	PUNCT
ajfa-1874	406	25	shiyun	shiyun	VERB
ajfa-1874	406	26	.	.	PUNCT
ajfa-1874	407	1	(	(	PUNCT
ajfa-1874	407	2	2011	2011	NUM
ajfa-1874	407	3	)	)	PUNCT
ajfa-1874	407	4	.	.	PUNCT
ajfa-1874	408	1	high	high	ADJ
ajfa-1874	408	2	frequency	frequency	NOUN
ajfa-1874	408	3	returns	return	NOUN
ajfa-1874	408	4	mean	mean	VERB
ajfa-1874	408	5	reversion	reversion	NOUN
ajfa-1874	408	6	and	and	CCONJ
ajfa-1874	408	7	volatility	volatility	NOUN
ajfa-1874	408	8	persistence	persistence	NOUN
ajfa-1874	408	9	.	.	PUNCT
ajfa-1874	409	1	research	research	NOUN
ajfa-1874	409	2	at	at	ADP
ajfa-1874	409	3	the	the	DET
ajfa-1874	409	4	icma	icma	PROPN
ajfa-1874	409	5	centre	centre	NOUN
ajfa-1874	409	6	,	,	PUNCT
ajfa-1874	409	7	discussion	discussion	NOUN
ajfa-1874	409	8	papers	paper	NOUN
ajfa-1874	409	9	,	,	PUNCT
ajfa-1874	409	10	university	university	PROPN
ajfa-1874	409	11	of	of	ADP
ajfa-1874	409	12	manchester	manchester	PROPN
ajfa-1874	409	13	.	.	PUNCT
ajfa-1874	410	1	yardeni	yardeni	PROPN
ajfa-1874	410	2	,	,	PUNCT
ajfa-1874	410	3	edward	edward	PROPN
ajfa-1874	410	4	,	,	PUNCT
ajfa-1874	410	5	joseph	joseph	PROPN
ajfa-1874	410	6	abbott	abbott	PROPN
ajfa-1874	410	7	,	,	PUNCT
ajfa-1874	410	8	&	&	CCONJ
ajfa-1874	410	9	amalia	amalia	PROPN
ajfa-1874	410	10	f.	f.	PROPN
ajfa-1874	410	11	quintana	quintana	PROPN
ajfa-1874	410	12	.	.	PUNCT
ajfa-1874	411	1	(	(	PUNCT
ajfa-1874	411	2	2002	2002	NUM
ajfa-1874	411	3	)	)	PUNCT
ajfa-1874	411	4	.	.	PUNCT
ajfa-1874	412	1	earnings	earning	NOUN
ajfa-1874	412	2	month	month	NOUN
ajfa-1874	412	3	.	.	PUNCT
ajfa-1874	413	1	prudential	prudential	PROPN
ajfa-1874	413	2	financial	financial	PROPN
ajfa-1874	413	3	research	research	PROPN
ajfa-1874	413	4	table	table	NOUN
ajfa-1874	413	5	1	1	NUM
ajfa-1874	413	6	.	.	PUNCT
ajfa-1874	413	7	stationarity	stationarity	NOUN
ajfa-1874	413	8	test	test	NOUN
ajfa-1874	413	9	for	for	ADP
ajfa-1874	413	10	sample	sample	NOUN
ajfa-1874	413	11	series	series	PROPN
ajfa-1874	413	12	name	name	PROPN
ajfa-1874	413	13	panel	panel	PROPN
ajfa-1874	413	14	-	-	PUNCT
ajfa-1874	413	15	a	a	DET
ajfa-1874	413	16	panel	panel	NOUN
ajfa-1874	413	17	-	-	PUNCT
ajfa-1874	413	18	b	b	PROPN
ajfa-1874	413	19	(	(	PUNCT
ajfa-1874	413	20	adf	adf	NOUN
ajfa-1874	413	21	)	)	PUNCT
ajfa-1874	413	22	test	test	NOUN
ajfa-1874	413	23	phillips	phillips	PROPN
ajfa-1874	413	24	-	-	PUNCT
ajfa-1874	413	25	perron	perron	PROPN
ajfa-1874	413	26	test	test	NOUN
ajfa-1874	413	27	(	(	PUNCT
ajfa-1874	413	28	adf	adf	NOUN
ajfa-1874	413	29	)	)	PUNCT
ajfa-1874	413	30	test	test	NOUN
ajfa-1874	413	31	phillips	phillips	PROPN
ajfa-1874	413	32	-	-	PUNCT
ajfa-1874	413	33	perron	perron	PROPN
ajfa-1874	413	34	test	test	NOUN
ajfa-1874	413	35	t	t	PROPN
ajfa-1874	413	36	-	-	PUNCT
ajfa-1874	413	37	statistics	statistic	NOUN
ajfa-1874	413	38	t	t	PROPN
ajfa-1874	413	39	-	-	PUNCT
ajfa-1874	413	40	statistics	statistic	NOUN
ajfa-1874	413	41	t	t	PROPN
ajfa-1874	413	42	-	-	PUNCT
ajfa-1874	413	43	statistics	statistic	NOUN
ajfa-1874	413	44	*	*	NOUN
ajfa-1874	413	45	*	*	NOUN
ajfa-1874	413	46	tsatistics	tsatistic	NOUN
ajfa-1874	413	47	*	*	NOUN
ajfa-1874	413	48	*	*	PUNCT
ajfa-1874	413	49	total	total	ADJ
ajfa-1874	413	50	fii	fii	PROPN
ajfa-1874	413	51	investment	investment	NOUN
ajfa-1874	413	52	-1.09	-1.09	X
ajfa-1874	413	53	-0.51	-0.51	INTJ
ajfa-1874	413	54	-41.98	-41.98	PUNCT
ajfa-1874	413	55	*	*	PUNCT
ajfa-1874	413	56	*	*	PUNCT
ajfa-1874	413	57	-41.98	-41.98	PUNCT
ajfa-1874	414	1	*	*	PUNCT
ajfa-1874	414	2	*	*	PUNCT
ajfa-1874	414	3	nifty	nifty	ADJ
ajfa-1874	414	4	closing	closing	NOUN
ajfa-1874	414	5	price	price	NOUN
ajfa-1874	414	6	1.12	1.12	NUM
ajfa-1874	414	7	-1.38	-1.38	NUM
ajfa-1874	414	8	-41.35	-41.35	PROPN
ajfa-1874	414	9	*	*	PUNCT
ajfa-1874	414	10	*	*	PUNCT
ajfa-1874	415	1	-41.32	-41.32	PUNCT
ajfa-1874	415	2	*	*	PUNCT
ajfa-1874	415	3	*	*	PUNCT
ajfa-1874	415	4	the	the	DET
ajfa-1874	415	5	table	table	NOUN
ajfa-1874	415	6	describes	describe	VERB
ajfa-1874	415	7	the	the	DET
ajfa-1874	415	8	sample	sample	NOUN
ajfa-1874	415	9	price	price	NOUN
ajfa-1874	415	10	series	series	NOUN
ajfa-1874	415	11	that	that	PRON
ajfa-1874	415	12	have	have	AUX
ajfa-1874	415	13	been	be	AUX
ajfa-1874	415	14	tested	test	VERB
ajfa-1874	415	15	using	use	VERB
ajfa-1874	415	16	augmented	augment	VERB
ajfa-1874	415	17	dickey	dickey	PROPN
ajfa-1874	415	18	fuller	full	ADJ
ajfa-1874	415	19	(	(	PUNCT
ajfa-1874	415	20	adf	adf	NOUN
ajfa-1874	415	21	)	)	PUNCT
ajfa-1874	415	22	1981	1981	NUM
ajfa-1874	415	23	.	.	PUNCT
ajfa-1874	416	1	the	the	DET
ajfa-1874	416	2	adf	adf	PROPN
ajfa-1874	416	3	test	test	NOUN
ajfa-1874	416	4	uses	use	VERB
ajfa-1874	416	5	the	the	DET
ajfa-1874	416	6	existence	existence	NOUN
ajfa-1874	416	7	of	of	ADP
ajfa-1874	416	8	a	a	DET
ajfa-1874	416	9	unit	unit	NOUN
ajfa-1874	416	10	root	root	NOUN
ajfa-1874	416	11	as	as	ADP
ajfa-1874	416	12	the	the	DET
ajfa-1874	416	13	null	null	ADJ
ajfa-1874	416	14	hypothesis	hypothesis	NOUN
ajfa-1874	416	15	.	.	PUNCT
ajfa-1874	417	1	to	to	PART
ajfa-1874	417	2	double	double	VERB
ajfa-1874	417	3	check	check	VERB
ajfa-1874	417	4	the	the	DET
ajfa-1874	417	5	robustness	robustness	NOUN
ajfa-1874	417	6	of	of	ADP
ajfa-1874	417	7	the	the	DET
ajfa-1874	417	8	results	result	NOUN
ajfa-1874	417	9	,	,	PUNCT
ajfa-1874	417	10	phillips	phillip	NOUN
ajfa-1874	417	11	and	and	CCONJ
ajfa-1874	417	12	perron	perron	PROPN
ajfa-1874	417	13	(	(	PUNCT
ajfa-1874	417	14	1988	1988	NUM
ajfa-1874	417	15	)	)	PUNCT
ajfa-1874	417	16	test	test	NOUN
ajfa-1874	417	17	of	of	ADP
ajfa-1874	417	18	stationarity	stationarity	NOUN
ajfa-1874	417	19	has	have	AUX
ajfa-1874	417	20	also	also	ADV
ajfa-1874	417	21	been	be	AUX
ajfa-1874	417	22	performed	perform	VERB
ajfa-1874	417	23	for	for	ADP
ajfa-1874	417	24	the	the	DET
ajfa-1874	417	25	price	price	NOUN
ajfa-1874	417	26	series	series	NOUN
ajfa-1874	417	27	and	and	CCONJ
ajfa-1874	417	28	then	then	ADV
ajfa-1874	417	29	both	both	CCONJ
ajfa-1874	417	30	the	the	DET
ajfa-1874	417	31	test	test	NOUN
ajfa-1874	417	32	are	be	AUX
ajfa-1874	417	33	performed	perform	VERB
ajfa-1874	417	34	on	on	ADP
ajfa-1874	417	35	return	return	NOUN
ajfa-1874	417	36	series	series	NOUN
ajfa-1874	417	37	also	also	ADV
ajfa-1874	417	38	as	as	SCONJ
ajfa-1874	417	39	shown	show	VERB
ajfa-1874	417	40	in	in	ADP
ajfa-1874	417	41	panel	panel	NOUN
ajfa-1874	417	42	-	-	PUNCT
ajfa-1874	417	43	a	a	DET
ajfa-1874	417	44	(	(	PUNCT
ajfa-1874	417	45	price	price	NOUN
ajfa-1874	417	46	series	series	NOUN
ajfa-1874	417	47	)	)	PUNCT
ajfa-1874	417	48	and	and	CCONJ
ajfa-1874	417	49	panel	panel	NOUN
ajfa-1874	417	50	b	b	PROPN
ajfa-1874	417	51	(	(	PUNCT
ajfa-1874	417	52	return	return	NOUN
ajfa-1874	417	53	series	series	NOUN
ajfa-1874	417	54	)	)	PUNCT
ajfa-1874	417	55	are	be	AUX
ajfa-1874	417	56	integrated	integrate	VERB
ajfa-1874	417	57	to	to	ADP
ajfa-1874	417	58	i(1	i(1	PROPN
ajfa-1874	417	59	)	)	PUNCT
ajfa-1874	417	60	.	.	PUNCT
ajfa-1874	418	1	all	all	DET
ajfa-1874	418	2	tests	test	NOUN
ajfa-1874	418	3	are	be	AUX
ajfa-1874	418	4	performed	perform	VERB
ajfa-1874	418	5	using	use	VERB
ajfa-1874	418	6	5%level	5%level	NUM
ajfa-1874	418	7	of	of	ADP
ajfa-1874	418	8	significance	significance	NOUN
ajfa-1874	418	9	(	(	PUNCT
ajfa-1874	418	10	*	*	NOUN
ajfa-1874	418	11	*	*	NOUN
ajfa-1874	418	12	)	)	PUNCT
ajfa-1874	418	13	.	.	PUNCT
ajfa-1874	419	1	table	table	NOUN
ajfa-1874	419	2	2	2	NUM
ajfa-1874	419	3	.	.	PUNCT
ajfa-1874	419	4	johansen	johansen	PROPN
ajfa-1874	419	5	’s	’s	PART
ajfa-1874	419	6	cointegration	cointegration	PROPN
ajfa-1874	419	7	test	test	NOUN
ajfa-1874	419	8	name	name	NOUN
ajfa-1874	419	9	hypothesis	hypothesis	NOUN
ajfa-1874	419	10	lag	lag	NOUN
ajfa-1874	419	11	length	length	NOUN
ajfa-1874	419	12	trace	trace	NOUN
ajfa-1874	419	13	critical	critical	ADJ
ajfa-1874	419	14	value	value	NOUN
ajfa-1874	419	15	*	*	PUNCT
ajfa-1874	419	16	*	*	PUNCT
ajfa-1874	419	17	r=0	r=0	PROPN
ajfa-1874	419	18	,	,	PUNCT
ajfa-1874	419	19	accept	accept	VERB
ajfa-1874	419	20	r=1	r=1	NOUN
ajfa-1874	419	21	reject	reject	VERB
ajfa-1874	419	22	null	null	ADJ
ajfa-1874	419	23	alternate	alternate	ADJ
ajfa-1874	419	24	criterion	criterion	NOUN
ajfa-1874	419	25	(	(	PUNCT
ajfa-1874	419	26	sc	sc	PROPN
ajfa-1874	419	27	)	)	PUNCT
ajfa-1874	419	28	max	max	PROPN
ajfa-1874	419	29	eigen	eigen	PROPN
ajfa-1874	419	30	value	value	PROPN
ajfa-1874	419	31	statistic	statistic	NOUN
ajfa-1874	419	32	5	5	NUM
ajfa-1874	419	33	%	%	NOUN
ajfa-1874	419	34	sig	sig	NOUN
ajfa-1874	419	35	level	level	PROPN
ajfa-1874	419	36	fii	fii	PROPN
ajfa-1874	419	37	equity	equity	NOUN
ajfa-1874	419	38	investment	investment	PROPN
ajfa-1874	419	39	&	&	CCONJ
ajfa-1874	419	40	nifty	nifty	ADJ
ajfa-1874	419	41	closing	closing	NOUN
ajfa-1874	419	42	price	price	NOUN
ajfa-1874	420	1	r	r	NOUN
ajfa-1874	420	2	=	=	SYM
ajfa-1874	420	3	0	0	NUM
ajfa-1874	420	4	r	r	NOUN
ajfa-1874	420	5	≥1	≥1	NUM
ajfa-1874	420	6	4	4	NUM
ajfa-1874	420	7	lags	lag	NOUN
ajfa-1874	420	8	*	*	NOUN
ajfa-1874	420	9	0.1249	0.1249	NUM
ajfa-1874	420	10	362.5	362.5	NUM
ajfa-1874	420	11	15.49	15.49	NUM
ajfa-1874	420	12	reject	reject	VERB
ajfa-1874	420	13	the	the	DET
ajfa-1874	420	14	table	table	NOUN
ajfa-1874	420	15	provides	provide	VERB
ajfa-1874	420	16	the	the	DET
ajfa-1874	420	17	johansen	johansen	PROPN
ajfa-1874	420	18	’s	’s	PART
ajfa-1874	420	19	co	co	NOUN
ajfa-1874	420	20	-	-	NOUN
ajfa-1874	420	21	integration	integration	NOUN
ajfa-1874	420	22	test	test	NOUN
ajfa-1874	420	23	,	,	PUNCT
ajfa-1874	420	24	maximal	maximal	ADJ
ajfa-1874	420	25	eigen	eigen	PROPN
ajfa-1874	420	26	value	value	NOUN
ajfa-1874	420	27	and	and	CCONJ
ajfa-1874	420	28	trace	trace	NOUN
ajfa-1874	420	29	test	test	NOUN
ajfa-1874	420	30	statistics	statistic	NOUN
ajfa-1874	420	31	are	be	AUX
ajfa-1874	420	32	used	use	VERB
ajfa-1874	420	33	to	to	PART
ajfa-1874	420	34	interpret	interpret	VERB
ajfa-1874	420	35	whether	whether	SCONJ
ajfa-1874	420	36	null	null	ADJ
ajfa-1874	420	37	hypothesis	hypothesis	NOUN
ajfa-1874	420	38	of	of	ADP
ajfa-1874	420	39	r=0	r=0	PROPN
ajfa-1874	420	40	is	be	AUX
ajfa-1874	420	41	rejected	reject	VERB
ajfa-1874	420	42	at	at	ADP
ajfa-1874	420	43	5	5	NUM
ajfa-1874	420	44	%	%	NOUN
ajfa-1874	420	45	level	level	NOUN
ajfa-1874	420	46	and	and	CCONJ
ajfa-1874	420	47	not	not	PART
ajfa-1874	420	48	rejected	reject	VERB
ajfa-1874	420	49	where	where	SCONJ
ajfa-1874	420	50	r=1	r=1	NOUN
ajfa-1874	420	51	.	.	PUNCT
ajfa-1874	421	1	rejection	rejection	NOUN
ajfa-1874	421	2	of	of	ADP
ajfa-1874	421	3	null	null	ADJ
ajfa-1874	421	4	hypothesis	hypothesis	NOUN
ajfa-1874	421	5	implies	imply	VERB
ajfa-1874	421	6	that	that	SCONJ
ajfa-1874	421	7	there	there	PRON
ajfa-1874	421	8	exists	exist	VERB
ajfa-1874	421	9	at	at	ADP
ajfa-1874	421	10	least	least	ADV
ajfa-1874	421	11	one	one	NUM
ajfa-1874	421	12	co	co	ADJ
ajfa-1874	421	13	-	-	ADJ
ajfa-1874	421	14	integrating	integrating	ADJ
ajfa-1874	421	15	vector	vector	NOUN
ajfa-1874	421	16	which	which	PRON
ajfa-1874	421	17	confirms	confirm	VERB
ajfa-1874	421	18	a	a	DET
ajfa-1874	421	19	long	long	ADJ
ajfa-1874	421	20	run	run	VERB
ajfa-1874	421	21	equilibrium	equilibrium	NOUN
ajfa-1874	421	22	relationship	relationship	NOUN
ajfa-1874	421	23	between	between	ADP
ajfa-1874	421	24	the	the	DET
ajfa-1874	421	25	two	two	NUM
ajfa-1874	421	26	variables	variable	NOUN
ajfa-1874	421	27	asian	asian	ADJ
ajfa-1874	421	28	journal	journal	NOUN
ajfa-1874	421	29	of	of	ADP
ajfa-1874	421	30	finance	finance	PROPN
ajfa-1874	421	31	&	&	CCONJ
ajfa-1874	421	32	accounting	accounting	PROPN
ajfa-1874	421	33	issn	issn	PROPN
ajfa-1874	421	34	1946	1946	NUM
ajfa-1874	421	35	-	-	PUNCT
ajfa-1874	421	36	052x	052x	NOUN
ajfa-1874	421	37	2012	2012	NUM
ajfa-1874	421	38	,	,	PUNCT
ajfa-1874	421	39	vol	vol	NOUN
ajfa-1874	421	40	.	.	PROPN
ajfa-1874	422	1	4	4	NUM
ajfa-1874	422	2	,	,	PUNCT
ajfa-1874	422	3	no	no	INTJ
ajfa-1874	422	4	.	.	NOUN
ajfa-1874	422	5	2	2	NUM
ajfa-1874	422	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-1874	422	7	37	37	NUM
ajfa-1874	422	8	table	table	NOUN
ajfa-1874	422	9	3	3	NUM
ajfa-1874	422	10	.	.	PUNCT
ajfa-1874	422	11	adequacy	adequacy	NOUN
ajfa-1874	422	12	test	test	NOUN
ajfa-1874	422	13	for	for	ADP
ajfa-1874	422	14	var	var	NOUN
ajfa-1874	422	15	model	model	NOUN
ajfa-1874	422	16	name	name	NOUN
ajfa-1874	422	17	of	of	ADP
ajfa-1874	422	18	series	series	PROPN
ajfa-1874	422	19	var	var	PROPN
ajfa-1874	422	20	adequacy	adequacy	PROPN
ajfa-1874	422	21	test	test	NOUN
ajfa-1874	422	22	critical	critical	ADJ
ajfa-1874	422	23	values	value	NOUN
ajfa-1874	422	24	lags	lag	VERB
ajfa-1874	422	25	fii	fii	PROPN
ajfa-1874	422	26	equity	equity	PROPN
ajfa-1874	422	27	investment	investment	PROPN
ajfa-1874	422	28	&	&	CCONJ
ajfa-1874	422	29	nifty	nifty	ADJ
ajfa-1874	422	30	closing	closing	NOUN
ajfa-1874	422	31	prices	price	NOUN
ajfa-1874	422	32	1	1	NUM
ajfa-1874	422	33	stability	stability	NOUN
ajfa-1874	422	34	(	(	PUNCT
ajfa-1874	422	35	modulus	modulus	ADJ
ajfa-1874	422	36	values	value	NOUN
ajfa-1874	422	37	of	of	ADP
ajfa-1874	422	38	roots	root	NOUN
ajfa-1874	422	39	of	of	ADP
ajfa-1874	422	40	characteristics	characteristic	NOUN
ajfa-1874	422	41	polynomials	polynomial	NOUN
ajfa-1874	422	42	0.94,.89	0.94,.89	NUM
ajfa-1874	422	43	,	,	PUNCT
ajfa-1874	422	44	0.24	0.24	NUM
ajfa-1874	422	45	,	,	PUNCT
ajfa-1874	422	46	0.081	0.081	NUM
ajfa-1874	422	47	(	(	PUNCT
ajfa-1874	422	48	stable	stable	ADJ
ajfa-1874	422	49	)	)	PUNCT
ajfa-1874	422	50	4	4	NUM
ajfa-1874	422	51	*	*	SYM
ajfa-1874	422	52	2	2	NUM
ajfa-1874	422	53	normality	normality	NOUN
ajfa-1874	422	54	chi	chi	ADJ
ajfa-1874	422	55	-	-	PUNCT
ajfa-1874	422	56	square	square	ADJ
ajfa-1874	422	57	values	value	NOUN
ajfa-1874	422	58	4.81	4.81	NUM
ajfa-1874	422	59	(	(	PUNCT
ajfa-1874	422	60	jarque	jarque	NOUN
ajfa-1874	422	61	-	-	PUNCT
ajfa-1874	422	62	bera	bera	NOUN
ajfa-1874	422	63	)	)	PUNCT
ajfa-1874	422	64	p	p	NOUN
ajfa-1874	422	65	val	val	NOUN
ajfa-1874	422	66	(	(	PUNCT
ajfa-1874	422	67	0.0900	0.0900	NUM
ajfa-1874	422	68	)	)	PUNCT
ajfa-1874	422	69	(	(	PUNCT
ajfa-1874	422	70	normal	normal	ADJ
ajfa-1874	422	71	)	)	PUNCT
ajfa-1874	422	72	4	4	NUM
ajfa-1874	422	73	*	*	SYM
ajfa-1874	422	74	3	3	NUM
ajfa-1874	422	75	serial	serial	ADJ
ajfa-1874	422	76	correlation	correlation	NOUN
ajfa-1874	422	77	lm	lm	NOUN
ajfa-1874	422	78	-	-	NOUN
ajfa-1874	422	79	test	test	NOUN
ajfa-1874	422	80	18.55	18.55	NUM
ajfa-1874	422	81	(	(	PUNCT
ajfa-1874	422	82	p	p	PROPN
ajfa-1874	422	83	val	val	NOUN
ajfa-1874	422	84	0.0806	0.0806	NUM
ajfa-1874	422	85	)	)	PUNCT
ajfa-1874	422	86	(	(	PUNCT
ajfa-1874	422	87	no	no	DET
ajfa-1874	422	88	serial	serial	ADJ
ajfa-1874	422	89	correlation	correlation	NOUN
ajfa-1874	422	90	)	)	PUNCT
ajfa-1874	422	91	4	4	NUM
ajfa-1874	422	92	*	*	PUNCT
ajfa-1874	422	93	the	the	DET
ajfa-1874	422	94	asterisk	asterisk	NOUN
ajfa-1874	422	95	(	(	PUNCT
ajfa-1874	422	96	*	*	NOUN
ajfa-1874	422	97	)	)	PUNCT
ajfa-1874	422	98	shows	show	VERB
ajfa-1874	422	99	significance	significance	NOUN
ajfa-1874	422	100	at	at	ADP
ajfa-1874	422	101	1	1	NUM
ajfa-1874	422	102	,	,	PUNCT
ajfa-1874	422	103	2	2	NUM
ajfa-1874	422	104	,	,	PUNCT
ajfa-1874	422	105	3	3	NUM
ajfa-1874	422	106	and	and	CCONJ
ajfa-1874	422	107	4	4	NUM
ajfa-1874	422	108	lags	lag	NOUN
ajfa-1874	422	109	.	.	PUNCT
ajfa-1874	423	1	diagnostic	diagnostic	ADJ
ajfa-1874	423	2	tests	test	NOUN
ajfa-1874	423	3	are	be	AUX
ajfa-1874	423	4	performed	perform	VERB
ajfa-1874	423	5	for	for	ADP
ajfa-1874	423	6	sample	sample	NOUN
ajfa-1874	423	7	series	series	NOUN
ajfa-1874	423	8	.	.	PUNCT
ajfa-1874	424	1	vector	vector	NOUN
ajfa-1874	424	2	auto	auto	NOUN
ajfa-1874	424	3	regression	regression	NOUN
ajfa-1874	424	4	(	(	PUNCT
ajfa-1874	424	5	var	var	NOUN
ajfa-1874	424	6	)	)	PUNCT
ajfa-1874	424	7	estimated	estimate	VERB
ajfa-1874	424	8	with	with	ADP
ajfa-1874	424	9	various	various	ADJ
ajfa-1874	424	10	lags	lag	NOUN
ajfa-1874	424	11	selected	select	VERB
ajfa-1874	424	12	by	by	ADP
ajfa-1874	424	13	aic	aic	PROPN
ajfa-1874	424	14	is	be	AUX
ajfa-1874	424	15	used	use	VERB
ajfa-1874	424	16	to	to	PART
ajfa-1874	424	17	check	check	VERB
ajfa-1874	424	18	whether	whether	SCONJ
ajfa-1874	424	19	the	the	DET
ajfa-1874	424	20	model	model	NOUN
ajfa-1874	424	21	satisfies	satisfy	VERB
ajfa-1874	424	22	the	the	DET
ajfa-1874	424	23	stability	stability	NOUN
ajfa-1874	424	24	,	,	PUNCT
ajfa-1874	424	25	normality	normality	NOUN
ajfa-1874	424	26	test	test	NOUN
ajfa-1874	424	27	as	as	ADV
ajfa-1874	424	28	well	well	ADV
ajfa-1874	424	29	as	as	ADP
ajfa-1874	424	30	no	no	DET
ajfa-1874	424	31	serial	serial	ADJ
ajfa-1874	424	32	correlation	correlation	NOUN
ajfa-1874	424	33	criterion	criterion	NOUN
ajfa-1874	424	34	among	among	ADP
ajfa-1874	424	35	the	the	DET
ajfa-1874	424	36	variables	variable	NOUN
ajfa-1874	424	37	in	in	ADP
ajfa-1874	424	38	the	the	DET
ajfa-1874	424	39	var	var	NOUN
ajfa-1874	424	40	adequacy	adequacy	NOUN
ajfa-1874	424	41	model	model	NOUN
ajfa-1874	424	42	.	.	PUNCT
ajfa-1874	425	1	results	result	NOUN
ajfa-1874	425	2	reveal	reveal	VERB
ajfa-1874	425	3	that	that	SCONJ
ajfa-1874	425	4	the	the	DET
ajfa-1874	425	5	sample	sample	NOUN
ajfa-1874	425	6	series	series	NOUN
ajfa-1874	425	7	are	be	AUX
ajfa-1874	425	8	satisfying	satisfy	VERB
ajfa-1874	425	9	the	the	DET
ajfa-1874	425	10	stability	stability	NOUN
ajfa-1874	425	11	in	in	ADP
ajfa-1874	425	12	normality	normality	NOUN
ajfa-1874	425	13	test	test	NOUN
ajfa-1874	425	14	the	the	DET
ajfa-1874	425	15	sample	sample	NOUN
ajfa-1874	425	16	series	series	NOUN
ajfa-1874	425	17	are	be	AUX
ajfa-1874	425	18	found	find	VERB
ajfa-1874	425	19	to	to	PART
ajfa-1874	425	20	be	be	AUX
ajfa-1874	425	21	normal	normal	ADJ
ajfa-1874	425	22	.	.	PUNCT
ajfa-1874	426	1	in	in	ADP
ajfa-1874	426	2	verifying	verify	VERB
ajfa-1874	426	3	the	the	DET
ajfa-1874	426	4	var	var	NOUN
ajfa-1874	426	5	residual	residual	ADJ
ajfa-1874	426	6	serial	serial	ADJ
ajfa-1874	426	7	correlation	correlation	NOUN
ajfa-1874	426	8	lm	lm	INTJ
ajfa-1874	426	9	tests	test	NOUN
ajfa-1874	426	10	it	it	PRON
ajfa-1874	426	11	was	be	AUX
ajfa-1874	426	12	found	find	VERB
ajfa-1874	426	13	that	that	SCONJ
ajfa-1874	426	14	in	in	ADP
ajfa-1874	426	15	all	all	DET
ajfa-1874	426	16	sample	sample	NOUN
ajfa-1874	426	17	series	series	NOUN
ajfa-1874	426	18	no	no	DET
ajfa-1874	426	19	serial	serial	ADJ
ajfa-1874	426	20	correlation	correlation	NOUN
ajfa-1874	426	21	was	be	AUX
ajfa-1874	426	22	present	present	ADJ
ajfa-1874	426	23	.	.	PUNCT
ajfa-1874	427	1	therefore	therefore	ADV
ajfa-1874	427	2	,	,	PUNCT
ajfa-1874	427	3	it	it	PRON
ajfa-1874	427	4	leads	lead	VERB
ajfa-1874	427	5	us	we	PRON
ajfa-1874	427	6	to	to	PART
ajfa-1874	427	7	take	take	VERB
ajfa-1874	427	8	the	the	DET
ajfa-1874	427	9	position	position	NOUN
ajfa-1874	427	10	that	that	PRON
ajfa-1874	427	11	our	our	PRON
ajfa-1874	427	12	model	model	NOUN
ajfa-1874	427	13	fulfils	fulfil	VERB
ajfa-1874	427	14	the	the	DET
ajfa-1874	427	15	adequacy	adequacy	NOUN
ajfa-1874	427	16	criterion	criterion	NOUN
ajfa-1874	427	17	table	table	NOUN
ajfa-1874	427	18	4	4	NUM
ajfa-1874	427	19	.	.	PUNCT
ajfa-1874	427	20	results	result	NOUN
ajfa-1874	427	21	of	of	ADP
ajfa-1874	427	22	vecm	vecm	NOUN
ajfa-1874	427	23	,	,	PUNCT
ajfa-1874	427	24	variance	variance	NOUN
ajfa-1874	427	25	decomposition	decomposition	NOUN
ajfa-1874	427	26	analysis	analysis	NOUN
ajfa-1874	427	27	and	and	CCONJ
ajfa-1874	427	28	block	block	NOUN
ajfa-1874	427	29	exogeneity	exogeneity	NOUN
ajfa-1874	427	30	tests	test	NOUN
ajfa-1874	427	31	panel	panel	NOUN
ajfa-1874	427	32	(	(	PUNCT
ajfa-1874	427	33	1	1	X
ajfa-1874	427	34	)	)	PUNCT
ajfa-1874	427	35	vecm	vecm	NOUN
ajfa-1874	427	36	indexes	index	VERB
ajfa-1874	427	37	fiis	fiis	ADJ
ajfa-1874	427	38	nifty	nifty	ADJ
ajfa-1874	427	39	close	close	ADJ
ajfa-1874	427	40	error	error	NOUN
ajfa-1874	427	41	correction	correction	NOUN
ajfa-1874	427	42	:	:	PUNCT
ajfa-1874	427	43	∆ft	∆ft	NOUN
ajfa-1874	427	44	∆st	∆st	VERB
ajfa-1874	428	1	7.12	7.12	NUM
ajfa-1874	428	2	*	*	PUNCT
ajfa-1874	428	3	*	*	NOUN
ajfa-1874	428	4	-1.05	-1.05	NUM
ajfa-1874	428	5	*	*	PROPN
ajfa-1874	428	6	*	*	NOUN
ajfa-1874	428	7	cointeq1	cointeq1	PROPN
ajfa-1874	428	8	(	(	PUNCT
ajfa-1874	428	9	0.48	0.48	NUM
ajfa-1874	428	10	)	)	PUNCT
ajfa-1874	428	11	(	(	PUNCT
ajfa-1874	428	12	0.05	0.05	NUM
ajfa-1874	428	13	)	)	PUNCT
ajfa-1874	428	14	[	[	PUNCT
ajfa-1874	428	15	14.62	14.62	NUM
ajfa-1874	428	16	]	]	PUNCT
ajfa-1874	428	17	[	[	X
ajfa-1874	428	18	-20.17	-20.17	X
ajfa-1874	428	19	]	]	X
ajfa-1874	428	20	panel	panel	NOUN
ajfa-1874	428	21	(	(	PUNCT
ajfa-1874	428	22	1	1	NUM
ajfa-1874	428	23	a	a	NOUN
ajfa-1874	428	24	)	)	PUNCT
ajfa-1874	428	25	:	:	PUNCT
ajfa-1874	428	26	causality	causality	NOUN
ajfa-1874	428	27	test	test	NOUN
ajfa-1874	428	28	variables	variable	VERB
ajfa-1874	428	29	nifty	nifty	ADJ
ajfa-1874	428	30	close	close	ADJ
ajfa-1874	428	31	fii	fii	PROPN
ajfa-1874	428	32	s	s	PART
ajfa-1874	428	33	variance	variance	NOUN
ajfa-1874	428	34	decomposition	decomposition	NOUN
ajfa-1874	428	35	analysis	analysis	NOUN
ajfa-1874	428	36	64.01	64.01	NUM
ajfa-1874	428	37	%	%	NOUN
ajfa-1874	428	38	35.9	35.9	NUM
ajfa-1874	428	39	%	%	NOUN
ajfa-1874	428	40	block	block	NOUN
ajfa-1874	428	41	exogenity	exogenity	NOUN
ajfa-1874	428	42	tests	test	VERB
ajfa-1874	428	43	dependent	dependent	ADJ
ajfa-1874	428	44	variable	variable	NOUN
ajfa-1874	428	45	:	:	PUNCT
ajfa-1874	428	46	dependent	dependent	ADJ
ajfa-1874	428	47	variable	variable	NOUN
ajfa-1874	428	48	:	:	PUNCT
ajfa-1874	428	49	var	var	PROPN
ajfa-1874	428	50	granger	granger	PROPN
ajfa-1874	428	51	causality	causality	PROPN
ajfa-1874	428	52	/	/	SYM
ajfa-1874	428	53	block	block	NOUN
ajfa-1874	428	54	exogeneity	exogeneity	NOUN
ajfa-1874	428	55	wald	wald	NOUN
ajfa-1874	428	56	tests	test	VERB
ajfa-1874	428	57	fii	fii	PROPN
ajfa-1874	428	58	nifty	nifty	PROPN
ajfa-1874	428	59	close	close	PROPN
ajfa-1874	428	60	p(0.00	p(0.00	PROPN
ajfa-1874	428	61	)	)	PUNCT
ajfa-1874	428	62	p(0.00	p(0.00	PROPN
ajfa-1874	428	63	)	)	PUNCT
ajfa-1874	428	64	t	t	PROPN
ajfa-1874	428	65	-	-	PUNCT
ajfa-1874	428	66	statistics	statistic	NOUN
ajfa-1874	428	67	values	value	NOUN
ajfa-1874	428	68	which	which	PRON
ajfa-1874	428	69	are	be	AUX
ajfa-1874	428	70	indicated	indicate	VERB
ajfa-1874	428	71	in	in	ADP
ajfa-1874	428	72	the	the	DET
ajfa-1874	428	73	parenthesis	parenthesis	NOUN
ajfa-1874	428	74	.	.	PUNCT
ajfa-1874	429	1	a	a	DET
ajfa-1874	429	2	(	(	PUNCT
ajfa-1874	429	3	*	*	NOUN
ajfa-1874	429	4	*	*	PUNCT
ajfa-1874	429	5	)	)	PUNCT
ajfa-1874	429	6	is	be	AUX
ajfa-1874	429	7	significant	significant	ADJ
ajfa-1874	429	8	at	at	ADP
ajfa-1874	429	9	5	5	NUM
ajfa-1874	429	10	%	%	NOUN
ajfa-1874	429	11	.	.	PUNCT
ajfa-1874	430	1	this	this	DET
ajfa-1874	430	2	table	table	NOUN
ajfa-1874	430	3	exhibits	exhibit	VERB
ajfa-1874	430	4	short	short	ADJ
ajfa-1874	430	5	run	run	NOUN
ajfa-1874	430	6	dynamics	dynamic	NOUN
ajfa-1874	430	7	using	use	VERB
ajfa-1874	430	8	vecm	vecm	NOUN
ajfa-1874	430	9	model	model	NOUN
ajfa-1874	430	10	in	in	ADP
ajfa-1874	430	11	the	the	DET
ajfa-1874	430	12	price	price	NOUN
ajfa-1874	430	13	series	series	NOUN
ajfa-1874	430	14	and	and	CCONJ
ajfa-1874	430	15	price	price	NOUN
ajfa-1874	430	16	movements	movement	NOUN
ajfa-1874	430	17	in	in	ADP
ajfa-1874	430	18	the	the	DET
ajfa-1874	430	19	two	two	NUM
ajfa-1874	430	20	markets	market	NOUN
ajfa-1874	430	21	using	use	VERB
ajfa-1874	430	22	akaike	akaike	ADJ
ajfa-1874	430	23	’s	’s	PART
ajfa-1874	430	24	information	information	NOUN
ajfa-1874	430	25	criteria	criterion	NOUN
ajfa-1874	430	26	.	.	PUNCT
ajfa-1874	431	1	after	after	SCONJ
ajfa-1874	431	2	correction	correction	NOUN
ajfa-1874	431	3	residuals	residual	VERB
ajfa-1874	431	4	it	it	PRON
ajfa-1874	431	5	was	be	AUX
ajfa-1874	431	6	noticed	notice	VERB
ajfa-1874	431	7	that	that	SCONJ
ajfa-1874	431	8	in	in	ADP
ajfa-1874	431	9	the	the	DET
ajfa-1874	431	10	vecm	vecm	NOUN
ajfa-1874	431	11	model	model	NOUN
ajfa-1874	431	12	,	,	PUNCT
ajfa-1874	431	13	error	error	NOUN
ajfa-1874	431	14	correction	correction	NOUN
ajfa-1874	431	15	coefficients	coefficient	NOUN
ajfa-1874	431	16	are	be	AUX
ajfa-1874	431	17	significant	significant	ADJ
ajfa-1874	431	18	in	in	ADP
ajfa-1874	431	19	both	both	DET
ajfa-1874	431	20	equations	equation	NOUN
ajfa-1874	431	21	,	,	PUNCT
ajfa-1874	431	22	suggesting	suggest	VERB
ajfa-1874	431	23	a	a	DET
ajfa-1874	431	24	bidirectional	bidirectional	ADJ
ajfa-1874	431	25	error	error	NOUN
ajfa-1874	431	26	correction	correction	NOUN
ajfa-1874	431	27	and	and	CCONJ
ajfa-1874	431	28	nifty	nifty	ADJ
ajfa-1874	431	29	price	price	NOUN
ajfa-1874	431	30	leads	lead	VERB
ajfa-1874	431	31	the	the	DET
ajfa-1874	431	32	fiis	fiis	NOUN
ajfa-1874	431	33	.the	.the	SCONJ
ajfa-1874	431	34	results	result	NOUN
ajfa-1874	431	35	are	be	AUX
ajfa-1874	431	36	reconfirmed	reconfirm	VERB
ajfa-1874	431	37	by	by	ADP
ajfa-1874	431	38	variance	variance	NOUN
ajfa-1874	431	39	decomposition	decomposition	NOUN
ajfa-1874	431	40	analysis	analysis	NOUN
ajfa-1874	431	41	confirming	confirm	VERB
ajfa-1874	431	42	the	the	DET
ajfa-1874	431	43	lead	lead	ADJ
ajfa-1874	431	44	role	role	NOUN
ajfa-1874	431	45	of	of	ADP
ajfa-1874	431	46	nifty	nifty	ADJ
ajfa-1874	431	47	.	.	PUNCT
ajfa-1874	432	1	there	there	PRON
ajfa-1874	432	2	are	be	VERB
ajfa-1874	432	3	bi	bi	ADJ
ajfa-1874	432	4	-	-	ADJ
ajfa-1874	432	5	directional	directional	ADJ
ajfa-1874	432	6	granger	granger	NOUN
ajfa-1874	432	7	lead	lead	NOUN
ajfa-1874	432	8	relationships	relationship	NOUN
ajfa-1874	432	9	between	between	ADP
ajfa-1874	432	10	nifty	nifty	ADJ
ajfa-1874	432	11	closing	closing	NOUN
ajfa-1874	432	12	and	and	CCONJ
ajfa-1874	432	13	fiis	fiis	NOUN
ajfa-1874	432	14	.	.	PUNCT
ajfa-1874	433	1	asian	asian	ADJ
ajfa-1874	433	2	journal	journal	PROPN
ajfa-1874	433	3	of	of	ADP
ajfa-1874	433	4	finance	finance	PROPN
ajfa-1874	433	5	&	&	CCONJ
ajfa-1874	433	6	accounting	accounting	PROPN
ajfa-1874	433	7	issn	issn	PROPN
ajfa-1874	433	8	1946	1946	NUM
ajfa-1874	433	9	-	-	PUNCT
ajfa-1874	433	10	052x	052x	NOUN
ajfa-1874	433	11	2012	2012	NUM
ajfa-1874	433	12	,	,	PUNCT
ajfa-1874	433	13	vol	vol	NOUN
ajfa-1874	433	14	.	.	PROPN
ajfa-1874	433	15	4	4	NUM
ajfa-1874	433	16	,	,	PUNCT
ajfa-1874	433	17	no	no	INTJ
ajfa-1874	433	18	.	.	NOUN
ajfa-1874	433	19	2	2	NUM
ajfa-1874	433	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-1874	433	21	38	38	NUM
ajfa-1874	433	22	table	table	NOUN
ajfa-1874	433	23	5	5	NUM
ajfa-1874	433	24	.	.	PUNCT
ajfa-1874	433	25	results	result	NOUN
ajfa-1874	433	26	of	of	ADP
ajfa-1874	433	27	unit	unit	NOUN
ajfa-1874	433	28	root	root	PROPN
ajfa-1874	433	29	statistics	statistics	PROPN
ajfa-1874	433	30	name	name	PROPN
ajfa-1874	433	31	panel	panel	NOUN
ajfa-1874	433	32	-	-	PUNCT
ajfa-1874	433	33	a	a	DET
ajfa-1874	433	34	panel	panel	NOUN
ajfa-1874	433	35	-	-	PUNCT
ajfa-1874	433	36	b	b	PROPN
ajfa-1874	433	37	(	(	PUNCT
ajfa-1874	433	38	adf	adf	NOUN
ajfa-1874	433	39	)	)	PUNCT
ajfa-1874	433	40	test	test	NOUN
ajfa-1874	433	41	phillips	phillips	PROPN
ajfa-1874	433	42	-	-	PUNCT
ajfa-1874	433	43	perron	perron	PROPN
ajfa-1874	433	44	test	test	NOUN
ajfa-1874	433	45	(	(	PUNCT
ajfa-1874	433	46	adf	adf	NOUN
ajfa-1874	433	47	)	)	PUNCT
ajfa-1874	433	48	test	test	NOUN
ajfa-1874	433	49	phillips	phillips	PROPN
ajfa-1874	433	50	-	-	PUNCT
ajfa-1874	433	51	perron	perron	PROPN
ajfa-1874	433	52	test	test	NOUN
ajfa-1874	433	53	t	t	PROPN
ajfa-1874	433	54	-	-	PUNCT
ajfa-1874	433	55	statistics	statistic	NOUN
ajfa-1874	433	56	t	t	PROPN
ajfa-1874	433	57	-	-	PUNCT
ajfa-1874	433	58	statistics	statistic	NOUN
ajfa-1874	433	59	t	t	PROPN
ajfa-1874	433	60	-	-	PUNCT
ajfa-1874	433	61	statistics	statistic	NOUN
ajfa-1874	433	62	*	*	NOUN
ajfa-1874	433	63	*	*	NOUN
ajfa-1874	433	64	tsatistics	tsatistic	NOUN
ajfa-1874	433	65	*	*	NOUN
ajfa-1874	433	66	*	*	PUNCT
ajfa-1874	433	67	total	total	ADJ
ajfa-1874	433	68	fii	fii	PROPN
ajfa-1874	433	69	investment	investment	NOUN
ajfa-1874	433	70	-1.09	-1.09	X
ajfa-1874	433	71	-0.51	-0.51	INTJ
ajfa-1874	433	72	-41.98	-41.98	PUNCT
ajfa-1874	433	73	*	*	PUNCT
ajfa-1874	433	74	*	*	PUNCT
ajfa-1874	433	75	-41.98	-41.98	PUNCT
ajfa-1874	434	1	*	*	PUNCT
ajfa-1874	434	2	*	*	PUNCT
ajfa-1874	434	3	nifty	nifty	ADJ
ajfa-1874	434	4	closing	closing	NOUN
ajfa-1874	434	5	price	price	NOUN
ajfa-1874	434	6	1.12	1.12	NUM
ajfa-1874	434	7	-1.38	-1.38	NUM
ajfa-1874	434	8	-41.35	-41.35	PROPN
ajfa-1874	434	9	*	*	PUNCT
ajfa-1874	434	10	*	*	PUNCT
ajfa-1874	435	1	-41.32	-41.32	PUNCT
ajfa-1874	435	2	*	*	PUNCT
ajfa-1874	435	3	*	*	PUNCT
ajfa-1874	435	4	nifty	nifty	ADJ
ajfa-1874	435	5	turnover	turnover	NOUN
ajfa-1874	435	6	0.78	0.78	NUM
ajfa-1874	435	7	0.65	0.65	NUM
ajfa-1874	435	8	-32.96	-32.96	PROPN
ajfa-1874	436	1	*	*	PUNCT
ajfa-1874	437	1	*	*	PUNCT
ajfa-1874	437	2	-42.7	-42.7	PUNCT
ajfa-1874	437	3	*	*	PUNCT
ajfa-1874	437	4	*	*	PUNCT
ajfa-1874	437	5	note	note	NOUN
ajfa-1874	437	6	:	:	PUNCT
ajfa-1874	438	1	*	*	PUNCT
ajfa-1874	438	2	*	*	PUNCT
ajfa-1874	438	3	statistics	statistic	NOUN
ajfa-1874	438	4	significant	significant	ADJ
ajfa-1874	438	5	at	at	ADP
ajfa-1874	438	6	5	5	NUM
ajfa-1874	438	7	%	%	NOUN
ajfa-1874	438	8	level	level	NOUN
ajfa-1874	438	9	and	and	CCONJ
ajfa-1874	438	10	are	be	AUX
ajfa-1874	438	11	i(1)as	i(1)as	PROPN
ajfa-1874	438	12	regards	regard	VERB
ajfa-1874	438	13	fii	fii	PROPN
ajfa-1874	438	14	,	,	PUNCT
ajfa-1874	438	15	nifty	nifty	ADJ
ajfa-1874	438	16	closing	closing	NOUN
ajfa-1874	438	17	,	,	PUNCT
ajfa-1874	438	18	turnover	turnover	NOUN
ajfa-1874	438	19	.	.	PUNCT
ajfa-1874	439	1	table	table	NOUN
ajfa-1874	439	2	6	6	NUM
ajfa-1874	439	3	.	.	PUNCT
ajfa-1874	440	1	results	result	NOUN
ajfa-1874	440	2	of	of	ADP
ajfa-1874	440	3	volatility	volatility	NOUN
ajfa-1874	440	4	relationships	relationship	NOUN
ajfa-1874	440	5	name	name	VERB
ajfa-1874	440	6	dependent	dependent	ADJ
ajfa-1874	440	7	variable	variable	NOUN
ajfa-1874	440	8	:	:	PUNCT
ajfa-1874	440	9	stdstock	stdstock	PROPN
ajfa-1874	440	10	fiis	fiis	PROPN
ajfa-1874	440	11	&	&	CCONJ
ajfa-1874	440	12	nifty	nifty	ADJ
ajfa-1874	440	13	coefficient	coefficient	PROPN
ajfa-1874	440	14	std	std	PROPN
ajfa-1874	440	15	.	.	PUNCT
ajfa-1874	441	1	err	err	PROPN
ajfa-1874	441	2	z	z	NOUN
ajfa-1874	441	3	-	-	PUNCT
ajfa-1874	441	4	stat	stat	PROPN
ajfa-1874	441	5	prob	prob	NOUN
ajfa-1874	441	6	.	.	PUNCT
ajfa-1874	442	1	a.βss	a.βss	PROPN
ajfa-1874	442	2	(	(	PUNCT
ajfa-1874	442	3	volatility	volatility	NOUN
ajfa-1874	442	4	clustering	clustering	NOUN
ajfa-1874	442	5	)	)	PUNCT
ajfa-1874	442	6	lagstockest	lagstock	ADJ
ajfa-1874	442	7	-0.01	-0.01	NUM
ajfa-1874	442	8	0.13	0.13	NUM
ajfa-1874	442	9	-0.10	-0.10	NUM
ajfa-1874	442	10	0	0	NUM
ajfa-1874	442	11	*	*	PUNCT
ajfa-1874	442	12	*	*	PUNCT
ajfa-1874	443	1	b.βsf	b.βsf	INTJ
ajfa-1874	443	2	(	(	PUNCT
ajfa-1874	443	3	volitiity	volitiity	NOUN
ajfa-1874	443	4	spillover	spillover	VERB
ajfa-1874	443	5	)	)	PUNCT
ajfa-1874	443	6	lagstockest	lagstockest	VERB
ajfa-1874	443	7	0.0	0.0	NUM
ajfa-1874	443	8	0.13	0.13	NUM
ajfa-1874	443	9	0.03	0.03	NUM
ajfa-1874	443	10	0	0	NUM
ajfa-1874	443	11	*	*	PUNCT
ajfa-1874	443	12	*	*	PUNCT
ajfa-1874	444	1	c.ʏs	c.ʏs	NOUN
ajfa-1874	444	2	(	(	PUNCT
ajfa-1874	444	3	volatility	volatility	NOUN
ajfa-1874	444	4	persistence	persistence	NOUN
ajfa-1874	444	5	)	)	PUNCT
ajfa-1874	444	6	lagstdstock	lagstdstock	NOUN
ajfa-1874	444	7	0.10	0.10	NUM
ajfa-1874	444	8	0.02	0.02	NUM
ajfa-1874	444	9	7.39	7.39	NUM
ajfa-1874	444	10	0	0	NUM
ajfa-1874	444	11	*	*	PUNCT
ajfa-1874	444	12	*	*	PUNCT
ajfa-1874	444	13	dependent	dependent	ADJ
ajfa-1874	444	14	variable	variable	NOUN
ajfa-1874	444	15	:	:	PUNCT
ajfa-1874	444	16	stdfiis	stdfiis	ADJ
ajfa-1874	444	17	a.βff	a.βff	PROPN
ajfa-1874	444	18	(	(	PUNCT
ajfa-1874	444	19	volitiity	volitiity	NOUN
ajfa-1874	444	20	clustering	clustering	NOUN
ajfa-1874	444	21	)	)	PUNCT
ajfa-1874	444	22	lagfiiest	lagfiiest	VERB
ajfa-1874	444	23	0.01	0.01	NUM
ajfa-1874	444	24	0.13	0.13	NUM
ajfa-1874	444	25	0.09	0.09	NUM
ajfa-1874	444	26	0	0	NUM
ajfa-1874	444	27	*	*	PUNCT
ajfa-1874	444	28	*	*	X
ajfa-1874	444	29	b.βfs	b.βfs	X
ajfa-1874	444	30	(	(	PUNCT
ajfa-1874	444	31	volitiity	volitiity	NOUN
ajfa-1874	444	32	spillover	spillover	VERB
ajfa-1874	444	33	)	)	PUNCT
ajfa-1874	444	34	lagfiiest	lagfiiest	NOUN
ajfa-1874	444	35	-0.00	-0.00	NUM
ajfa-1874	444	36	0.13	0.13	NUM
ajfa-1874	444	37	-0.05	-0.05	NUM
ajfa-1874	444	38	0	0	NUM
ajfa-1874	444	39	*	*	PUNCT
ajfa-1874	444	40	*	*	PUNCT
ajfa-1874	444	41	c.ʏ	c.ʏ	PROPN
ajfa-1874	444	42	f	f	X
ajfa-1874	444	43	(	(	PUNCT
ajfa-1874	444	44	volatility	volatility	NOUN
ajfa-1874	444	45	persistence	persistence	NOUN
ajfa-1874	444	46	)	)	PUNCT
ajfa-1874	444	47	lagstdfii	lagstdfii	NOUN
ajfa-1874	444	48	0.10	0.10	NUM
ajfa-1874	444	49	0.02	0.02	NUM
ajfa-1874	444	50	7.41	7.41	NUM
ajfa-1874	444	51	0	0	NUM
ajfa-1874	444	52	*	*	PUNCT
ajfa-1874	444	53	*	*	PUNCT
ajfa-1874	444	54	note	note	NOUN
ajfa-1874	444	55	:	:	PUNCT
ajfa-1874	444	56	table	table	NOUN
ajfa-1874	444	57	describes	describe	VERB
ajfa-1874	444	58	volatility	volatility	NOUN
ajfa-1874	444	59	spillover	spillover	NOUN
ajfa-1874	444	60	(	(	PUNCT
ajfa-1874	444	61	βsf	βsf	NOUN
ajfa-1874	444	62	and	and	CCONJ
ajfa-1874	444	63	βfs	βfs	NOUN
ajfa-1874	444	64	)	)	PUNCT
ajfa-1874	445	1	volatility	volatility	NOUN
ajfa-1874	445	2	persistence	persistence	NOUN
ajfa-1874	445	3	(	(	PUNCT
ajfa-1874	445	4	ƴf	ƴf	NOUN
ajfa-1874	445	5	and	and	CCONJ
ajfa-1874	445	6	ƴs	ƴs	ADJ
ajfa-1874	445	7	)	)	PUNCT
ajfa-1874	445	8	and	and	CCONJ
ajfa-1874	445	9	volatility	volatility	NOUN
ajfa-1874	445	10	clustering	clustering	NOUN
ajfa-1874	445	11	(	(	PUNCT
ajfa-1874	445	12	βff	βff	NOUN
ajfa-1874	445	13	and	and	CCONJ
ajfa-1874	445	14	βss	βss	ADJ
ajfa-1874	445	15	)	)	PUNCT
ajfa-1874	445	16	from	from	ADP
ajfa-1874	445	17	the	the	DET
ajfa-1874	445	18	stock	stock	NOUN
ajfa-1874	445	19	market(nifty	market(nifty	PROPN
ajfa-1874	445	20	)	)	PUNCT
ajfa-1874	445	21	to	to	ADP
ajfa-1874	445	22	fiis	fiis	NOUN
ajfa-1874	445	23	or	or	CCONJ
ajfa-1874	445	24	fiis	fiis	NOUN
ajfa-1874	445	25	to	to	ADP
ajfa-1874	445	26	stock	stock	NOUN
ajfa-1874	445	27	respectively	respectively	ADV
ajfa-1874	445	28	.	.	PUNCT
ajfa-1874	446	1	volatility	volatility	NOUN
ajfa-1874	446	2	spill	spill	NOUN
ajfa-1874	446	3	over	over	ADV
ajfa-1874	446	4	is	be	AUX
ajfa-1874	446	5	observed	observe	VERB
ajfa-1874	446	6	.volatility	.volatility	NUM
ajfa-1874	446	7	persistence	persistence	NOUN
ajfa-1874	446	8	is	be	AUX
ajfa-1874	446	9	significant	significant	ADJ
ajfa-1874	446	10	for	for	ADP
ajfa-1874	446	11	both	both	CCONJ
ajfa-1874	446	12	stock	stock	NOUN
ajfa-1874	446	13	market	market	NOUN
ajfa-1874	446	14	and	and	CCONJ
ajfa-1874	446	15	fiis	fiis	NOUN
ajfa-1874	446	16	for	for	ADP
ajfa-1874	446	17	sample	sample	NOUN
ajfa-1874	446	18	series	series	NOUN
ajfa-1874	446	19	,	,	PUNCT
ajfa-1874	446	20	as	as	SCONJ
ajfa-1874	446	21	p	p	NOUN
ajfa-1874	446	22	(	(	PUNCT
ajfa-1874	446	23	value	value	NOUN
ajfa-1874	446	24	)	)	PUNCT
ajfa-1874	446	25	is	be	AUX
ajfa-1874	446	26	coming	come	VERB
ajfa-1874	446	27	less	less	ADJ
ajfa-1874	446	28	than	than	ADP
ajfa-1874	446	29	0.05	0.05	NUM
ajfa-1874	446	30	.	.	PUNCT
ajfa-1874	447	1	the	the	DET
ajfa-1874	447	2	market	market	NOUN
ajfa-1874	447	3	-	-	PUNCT
ajfa-1874	447	4	specific	specific	ADJ
ajfa-1874	447	5	volatility	volatility	NOUN
ajfa-1874	447	6	clustering	cluster	VERB
ajfa-1874	447	7	coefficients	coefficient	NOUN
ajfa-1874	447	8	βff	βff	PROPN
ajfa-1874	447	9	and	and	CCONJ
ajfa-1874	447	10	βss	βss	NOUN
ajfa-1874	447	11	are	be	AUX
ajfa-1874	447	12	all	all	ADV
ajfa-1874	447	13	positively	positively	ADV
ajfa-1874	447	14	significant	significant	ADJ
ajfa-1874	447	15	at	at	ADP
ajfa-1874	447	16	5	5	NUM
ajfa-1874	447	17	%	%	NOUN
ajfa-1874	447	18	level	level	NOUN
ajfa-1874	447	19	in	in	ADP
ajfa-1874	447	20	the	the	DET
ajfa-1874	447	21	sample	sample	NOUN
ajfa-1874	447	22	series	series	NOUN
ajfa-1874	447	23	.	.	PUNCT
ajfa-1874	448	1	table	table	NOUN
ajfa-1874	448	2	7	7	NUM
ajfa-1874	448	3	.	.	PUNCT
ajfa-1874	448	4	arch	arch	ADJ
ajfa-1874	448	5	lm	lm	PROPN
ajfa-1874	448	6	-	-	PUNCT
ajfa-1874	448	7	test	test	NOUN
ajfa-1874	448	8	commodity	commodity	NOUN
ajfa-1874	448	9	coefficient	coefficient	NOUN
ajfa-1874	448	10	std	std	PROPN
ajfa-1874	448	11	.	.	PROPN
ajfa-1874	448	12	error	error	NOUN
ajfa-1874	448	13	t	t	NOUN
ajfa-1874	448	14	-	-	PUNCT
ajfa-1874	448	15	statistic	statistic	NOUN
ajfa-1874	448	16	prob	prob	NOUN
ajfa-1874	448	17	.	.	PUNCT
ajfa-1874	449	1	1.comdex	1.comdex	NUM
ajfa-1874	449	2	dependent	dependent	ADJ
ajfa-1874	449	3	variable	variable	NOUN
ajfa-1874	449	4	:	:	PUNCT
ajfa-1874	449	5	std	std	PROPN
ajfa-1874	449	6	stock(nifty	stock(nifty	PROPN
ajfa-1874	449	7	)	)	PUNCT
ajfa-1874	449	8	std_resid^2(-1	std_resid^2(-1	NUM
ajfa-1874	449	9	)	)	PUNCT
ajfa-1874	450	1	0.04	0.04	NUM
ajfa-1874	450	2	0.02	0.02	NUM
ajfa-1874	450	3	2.11e+00	2.11e+00	NUM
ajfa-1874	450	4	[	[	X
ajfa-1874	450	5	0.23	0.23	NUM
ajfa-1874	450	6	]	]	X
ajfa-1874	450	7	dependent	dependent	ADJ
ajfa-1874	450	8	variable	variable	NOUN
ajfa-1874	450	9	:	:	PUNCT
ajfa-1874	450	10	stdfiis	stdfiis	NOUN
ajfa-1874	450	11	std_resid^2(-1	std_resid^2(-1	ADJ
ajfa-1874	450	12	)	)	PUNCT
ajfa-1874	450	13	0.05	0.05	NUM
ajfa-1874	450	14	0.02	0.02	NUM
ajfa-1874	450	15	2.15	2.15	NUM
ajfa-1874	451	1	[	[	PUNCT
ajfa-1874	451	2	0.3	0.3	NUM
ajfa-1874	451	3	]	]	PUNCT