id	sid	tid	token	lemma	pos
emaj-190	1	1	volume	volume	NOUN
emaj-190	1	2	7	7	NUM
emaj-190	1	3	no	no	DET
emaj-190	1	4	2	2	NUM
emaj-190	1	5	(	(	PUNCT
emaj-190	1	6	2018	2018	NUM
emaj-190	1	7	)	)	PUNCT
emaj-190	2	1	|	|	ADV
emaj-190	2	2	issn	issn	VERB
emaj-190	2	3	2158	2158	NUM
emaj-190	2	4	-	-	SYM
emaj-190	2	5	8708	8708	NUM
emaj-190	2	6	(	(	PUNCT
emaj-190	2	7	online	online	NOUN
emaj-190	2	8	)	)	PUNCT
emaj-190	2	9	|	|	ADV
emaj-190	2	10	doi	doi	X
emaj-190	2	11	10.5195	10.5195	NUM
emaj-190	2	12	/	/	SYM
emaj-190	2	13	emaj.2018.134	emaj.2018.134	PROPN
emaj-190	2	14	|	|	ADV
emaj-190	2	15	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	2	16	foreign	foreign	ADJ
emaj-190	2	17	capital	capital	NOUN
emaj-190	2	18	,	,	PUNCT
emaj-190	2	19	real	real	ADJ
emaj-190	2	20	sector	sector	NOUN
emaj-190	2	21	financing	financing	NOUN
emaj-190	2	22	and	and	CCONJ
emaj-190	2	23	excessive	excessive	ADJ
emaj-190	2	24	leverage	leverage	NOUN
emaj-190	2	25	in	in	ADP
emaj-190	2	26	turkey	turkey	NOUN
emaj-190	2	27	:	:	PUNCT
emaj-190	2	28	what	what	PRON
emaj-190	2	29	went	go	VERB
emaj-190	2	30	wrong	wrong	ADJ
emaj-190	2	31	?	?	PUNCT
emaj-190	3	1	bahadır	bahadır	NOUN
emaj-190	3	2	karakoç	karakoç	PROPN
emaj-190	3	3	muş	muş	PROPN
emaj-190	3	4	alparslan	alparslan	PROPN
emaj-190	3	5	university	university	PROPN
emaj-190	3	6	,	,	PUNCT
emaj-190	3	7	turkey	turkey	NOUN
emaj-190	4	1	|	|	ADV
emaj-190	4	2	bahadir.karakoc@hotmail.com	bahadir.karakoc@hotmail.com	NOUN
emaj-190	4	3	abstract	abstract	NOUN
emaj-190	4	4	recently	recently	ADV
emaj-190	4	5	,	,	PUNCT
emaj-190	4	6	large	large	ADJ
emaj-190	4	7	swings	swing	NOUN
emaj-190	4	8	in	in	ADP
emaj-190	4	9	inflation	inflation	NOUN
emaj-190	4	10	and	and	CCONJ
emaj-190	4	11	exchange	exchange	NOUN
emaj-190	4	12	rates	rate	NOUN
emaj-190	4	13	revealed	reveal	VERB
emaj-190	4	14	that	that	SCONJ
emaj-190	4	15	non	non	ADJ
emaj-190	4	16	-	-	ADJ
emaj-190	4	17	financial	financial	ADJ
emaj-190	4	18	sector	sector	NOUN
emaj-190	4	19	is	be	AUX
emaj-190	4	20	heavily	heavily	ADV
emaj-190	4	21	geared	gear	VERB
emaj-190	4	22	and	and	CCONJ
emaj-190	4	23	extremely	extremely	ADV
emaj-190	4	24	vulnerable	vulnerable	ADJ
emaj-190	4	25	.	.	PUNCT
emaj-190	5	1	therefore	therefore	ADV
emaj-190	5	2	,	,	PUNCT
emaj-190	5	3	a	a	DET
emaj-190	5	4	study	study	NOUN
emaj-190	5	5	trying	try	VERB
emaj-190	5	6	to	to	PART
emaj-190	5	7	identify	identify	VERB
emaj-190	5	8	the	the	DET
emaj-190	5	9	contributing	contribute	VERB
emaj-190	5	10	factors	factor	NOUN
emaj-190	5	11	is	be	AUX
emaj-190	5	12	needed	need	VERB
emaj-190	5	13	.	.	PUNCT
emaj-190	6	1	separating	separate	VERB
emaj-190	6	2	firms	firm	NOUN
emaj-190	6	3	into	into	ADP
emaj-190	6	4	groups	group	NOUN
emaj-190	6	5	,	,	PUNCT
emaj-190	6	6	based	base	VERB
emaj-190	6	7	on	on	ADP
emaj-190	6	8	size	size	NOUN
emaj-190	6	9	and	and	CCONJ
emaj-190	6	10	stock	stock	NOUN
emaj-190	6	11	market	market	NOUN
emaj-190	6	12	trading	trading	NOUN
emaj-190	6	13	status	status	NOUN
emaj-190	6	14	;	;	PUNCT
emaj-190	6	15	changes	change	NOUN
emaj-190	6	16	in	in	ADP
emaj-190	6	17	financing	financing	NOUN
emaj-190	6	18	patterns	pattern	NOUN
emaj-190	6	19	are	be	AUX
emaj-190	6	20	investigated	investigate	VERB
emaj-190	6	21	via	via	ADP
emaj-190	6	22	panel	panel	NOUN
emaj-190	6	23	data	datum	NOUN
emaj-190	6	24	methodology	methodology	NOUN
emaj-190	6	25	.	.	PUNCT
emaj-190	7	1	the	the	DET
emaj-190	7	2	study	study	NOUN
emaj-190	7	3	aims	aim	VERB
emaj-190	7	4	at	at	ADP
emaj-190	7	5	fulfilling	fulfil	VERB
emaj-190	7	6	the	the	DET
emaj-190	7	7	need	need	NOUN
emaj-190	7	8	for	for	ADP
emaj-190	7	9	analyzing	analyze	VERB
emaj-190	7	10	the	the	DET
emaj-190	7	11	consequences	consequence	NOUN
emaj-190	7	12	of	of	ADP
emaj-190	7	13	foreign	foreign	ADJ
emaj-190	7	14	capital	capital	NOUN
emaj-190	7	15	flow	flow	NOUN
emaj-190	7	16	at	at	ADP
emaj-190	7	17	firm	firm	ADJ
emaj-190	7	18	level	level	NOUN
emaj-190	7	19	and	and	CCONJ
emaj-190	7	20	documenting	document	VERB
emaj-190	7	21	its	its	PRON
emaj-190	7	22	significance	significance	NOUN
emaj-190	7	23	in	in	ADP
emaj-190	7	24	addition	addition	NOUN
emaj-190	7	25	to	to	ADP
emaj-190	7	26	assessing	assess	VERB
emaj-190	7	27	the	the	DET
emaj-190	7	28	efficacy	efficacy	NOUN
emaj-190	7	29	of	of	ADP
emaj-190	7	30	contemporary	contemporary	ADJ
emaj-190	7	31	monetary	monetary	ADJ
emaj-190	7	32	policy	policy	NOUN
emaj-190	7	33	.	.	PUNCT
emaj-190	8	1	economic	economic	ADJ
emaj-190	8	2	conditions	condition	NOUN
emaj-190	8	3	significantly	significantly	ADV
emaj-190	8	4	facilitated	facilitate	VERB
emaj-190	8	5	lending	lending	NOUN
emaj-190	8	6	process	process	NOUN
emaj-190	8	7	,	,	PUNCT
emaj-190	8	8	strengthening	strengthen	VERB
emaj-190	8	9	corporate	corporate	ADJ
emaj-190	8	10	access	access	NOUN
emaj-190	8	11	to	to	ADP
emaj-190	8	12	credit	credit	NOUN
emaj-190	8	13	,	,	PUNCT
emaj-190	8	14	and	and	CCONJ
emaj-190	8	15	resulted	result	VERB
emaj-190	8	16	in	in	ADP
emaj-190	8	17	excessive	excessive	ADJ
emaj-190	8	18	borrowing	borrowing	NOUN
emaj-190	8	19	both	both	CCONJ
emaj-190	8	20	in	in	ADP
emaj-190	8	21	the	the	DET
emaj-190	8	22	form	form	NOUN
emaj-190	8	23	of	of	ADP
emaj-190	8	24	foreign	foreign	ADJ
emaj-190	8	25	and	and	CCONJ
emaj-190	8	26	domestic	domestic	ADJ
emaj-190	8	27	currency	currency	NOUN
emaj-190	8	28	.	.	PUNCT
emaj-190	9	1	with	with	ADP
emaj-190	9	2	such	such	ADJ
emaj-190	9	3	heavy	heavy	ADJ
emaj-190	9	4	burden	burden	NOUN
emaj-190	9	5	of	of	ADP
emaj-190	9	6	debt	debt	NOUN
emaj-190	9	7	,	,	PUNCT
emaj-190	9	8	non	non	ADJ
emaj-190	9	9	-	-	ADJ
emaj-190	9	10	financial	financial	ADJ
emaj-190	9	11	sector	sector	NOUN
emaj-190	9	12	has	have	AUX
emaj-190	9	13	been	be	AUX
emaj-190	9	14	facing	face	VERB
emaj-190	9	15	both	both	DET
emaj-190	9	16	exchange	exchange	NOUN
emaj-190	9	17	rate	rate	NOUN
emaj-190	9	18	and	and	CCONJ
emaj-190	9	19	the	the	DET
emaj-190	9	20	liquidity	liquidity	NOUN
emaj-190	9	21	risks	risk	NOUN
emaj-190	9	22	.	.	PUNCT
emaj-190	10	1	the	the	DET
emaj-190	10	2	more	more	ADV
emaj-190	10	3	severely	severely	ADV
emaj-190	10	4	a	a	DET
emaj-190	10	5	firm	firm	NOUN
emaj-190	10	6	was	be	AUX
emaj-190	10	7	previously	previously	ADV
emaj-190	10	8	challenged	challenge	VERB
emaj-190	10	9	by	by	ADP
emaj-190	10	10	financing	finance	VERB
emaj-190	10	11	limitations	limitation	NOUN
emaj-190	10	12	,	,	PUNCT
emaj-190	10	13	the	the	PRON
emaj-190	10	14	more	more	ADV
emaj-190	10	15	it	it	PRON
emaj-190	10	16	borrowed	borrow	VERB
emaj-190	10	17	once	once	SCONJ
emaj-190	10	18	the	the	DET
emaj-190	10	19	limitations	limitation	NOUN
emaj-190	10	20	are	be	AUX
emaj-190	10	21	relaxed	relax	VERB
emaj-190	10	22	,	,	PUNCT
emaj-190	10	23	contributing	contribute	VERB
emaj-190	10	24	to	to	ADP
emaj-190	10	25	excessive	excessive	ADJ
emaj-190	10	26	debt	debt	NOUN
emaj-190	10	27	burden	burden	NOUN
emaj-190	10	28	of	of	ADP
emaj-190	10	29	the	the	DET
emaj-190	10	30	economy	economy	NOUN
emaj-190	10	31	in	in	ADP
emaj-190	10	32	proportion	proportion	NOUN
emaj-190	10	33	to	to	ADP
emaj-190	10	34	its	its	PRON
emaj-190	10	35	previous	previous	ADJ
emaj-190	10	36	financing	financing	NOUN
emaj-190	10	37	challenges	challenge	NOUN
emaj-190	10	38	.	.	PUNCT
emaj-190	11	1	keywords	keyword	NOUN
emaj-190	11	2	:	:	PUNCT
emaj-190	11	3	financial	financial	ADJ
emaj-190	11	4	liquidity	liquidity	NOUN
emaj-190	11	5	;	;	PUNCT
emaj-190	11	6	financing	financing	NOUN
emaj-190	11	7	constraint	constraint	NOUN
emaj-190	11	8	;	;	PUNCT
emaj-190	11	9	foreign	foreign	ADJ
emaj-190	11	10	capital	capital	NOUN
emaj-190	11	11	inflow	inflow	NOUN
emaj-190	11	12	;	;	PUNCT
emaj-190	11	13	small	small	ADJ
emaj-190	11	14	firm	firm	ADJ
emaj-190	11	15	financing	financing	NOUN
emaj-190	11	16	;	;	PUNCT
emaj-190	11	17	excessive	excessive	ADJ
emaj-190	11	18	leverage	leverage	NOUN
emaj-190	11	19	new	new	ADJ
emaj-190	11	20	articles	article	NOUN
emaj-190	11	21	in	in	ADP
emaj-190	11	22	this	this	DET
emaj-190	11	23	journal	journal	NOUN
emaj-190	11	24	are	be	AUX
emaj-190	11	25	licensed	license	VERB
emaj-190	11	26	under	under	ADP
emaj-190	11	27	a	a	DET
emaj-190	11	28	creative	creative	ADJ
emaj-190	11	29	commons	common	NOUN
emaj-190	11	30	attribution	attribution	NOUN
emaj-190	11	31	3.0	3.0	NUM
emaj-190	11	32	united	unite	VERB
emaj-190	11	33	states	states	PROPN
emaj-190	11	34	license	license	NOUN
emaj-190	11	35	.	.	PUNCT
emaj-190	12	1	this	this	DET
emaj-190	12	2	journal	journal	NOUN
emaj-190	12	3	is	be	AUX
emaj-190	12	4	published	publish	VERB
emaj-190	12	5	by	by	ADP
emaj-190	12	6	the	the	DET
emaj-190	12	7	university	university	NOUN
emaj-190	12	8	library	library	NOUN
emaj-190	12	9	system	system	NOUN
emaj-190	12	10	of	of	ADP
emaj-190	12	11	the	the	DET
emaj-190	12	12	university	university	PROPN
emaj-190	12	13	of	of	ADP
emaj-190	12	14	pittsburgh	pittsburgh	PROPN
emaj-190	12	15	as	as	ADP
emaj-190	12	16	part	part	NOUN
emaj-190	12	17	of	of	ADP
emaj-190	12	18	its	its	PRON
emaj-190	12	19	d	d	NOUN
emaj-190	12	20	-	-	PUNCT
emaj-190	12	21	scribe	scribe	VERB
emaj-190	12	22	digital	digital	ADJ
emaj-190	12	23	publishing	publishing	NOUN
emaj-190	12	24	program	program	NOUN
emaj-190	12	25	,	,	PUNCT
emaj-190	12	26	and	and	CCONJ
emaj-190	12	27	is	be	AUX
emaj-190	12	28	cosponsored	cosponsor	VERB
emaj-190	12	29	by	by	ADP
emaj-190	12	30	the	the	DET
emaj-190	12	31	university	university	PROPN
emaj-190	12	32	of	of	ADP
emaj-190	12	33	pittsburgh	pittsburgh	PROPN
emaj-190	12	34	press	press	NOUN
emaj-190	12	35	.	.	PUNCT
emaj-190	13	1	volume	volume	NOUN
emaj-190	13	2	10	10	NUM
emaj-190	13	3	no	no	DET
emaj-190	13	4	1	1	NUM
emaj-190	13	5	(	(	PUNCT
emaj-190	13	6	2020	2020	NUM
emaj-190	13	7	)	)	PUNCT
emaj-190	13	8	|	|	ADV
emaj-190	13	9	issn	issn	VERB
emaj-190	13	10	2158	2158	NUM
emaj-190	13	11	-	-	SYM
emaj-190	13	12	8708	8708	NUM
emaj-190	13	13	(	(	PUNCT
emaj-190	13	14	online	online	NOUN
emaj-190	13	15	)	)	PUNCT
emaj-190	13	16	|	|	ADV
emaj-190	13	17	doi	doi	X
emaj-190	13	18	10.5195	10.5195	NUM
emaj-190	13	19	/	/	SYM
emaj-190	13	20	emaj.2020.190	emaj.2020.190	NOUN
emaj-190	13	21	|	|	ADV
emaj-190	13	22	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	13	23	|	|	ADV
emaj-190	13	24	http://www.library.pitt.edu/	http://www.library.pitt.edu/	PROPN
emaj-190	13	25	http://www.pitt.edu/	http://www.pitt.edu/	NOUN
emaj-190	13	26	http://www.library.pitt.edu/articles/digpubtype/index.html	http://www.library.pitt.edu/articles/digpubtype/index.html	X
emaj-190	13	27	http://www.upress.pitt.edu/upressindex.aspx	http://www.upress.pitt.edu/upressindex.aspx	NUM
emaj-190	13	28	http://creativecommons.org/licenses/by/3.0/us/	http://creativecommons.org/licenses/by/3.0/us/	NOUN
emaj-190	13	29	volume	volume	NOUN
emaj-190	13	30	10	10	NUM
emaj-190	14	1	no	no	DET
emaj-190	14	2	1	1	NUM
emaj-190	14	3	(	(	PUNCT
emaj-190	14	4	2020	2020	NUM
emaj-190	14	5	)	)	PUNCT
emaj-190	14	6	|	|	ADV
emaj-190	14	7	issn	issn	VERB
emaj-190	14	8	2158	2158	NUM
emaj-190	14	9	-	-	SYM
emaj-190	14	10	8708	8708	NUM
emaj-190	14	11	(	(	PUNCT
emaj-190	14	12	online	online	NOUN
emaj-190	14	13	)	)	PUNCT
emaj-190	14	14	|	|	ADV
emaj-190	14	15	doi	doi	X
emaj-190	14	16	10.5195	10.5195	NUM
emaj-190	14	17	/	/	SYM
emaj-190	14	18	emaj.2020.190	emaj.2020.190	NOUN
emaj-190	14	19	|	|	NOUN
emaj-190	14	20	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	14	21	bahadır	bahadır	NOUN
emaj-190	14	22	karakoç	karakoç	VERB
emaj-190	14	23	emerging	emerge	VERB
emaj-190	14	24	markets	market	NOUN
emaj-190	14	25	journal	journal	NOUN
emaj-190	15	1	|	|	ADV
emaj-190	15	2	p	p	NOUN
emaj-190	15	3	a	a	DET
emaj-190	15	4	g	g	PROPN
emaj-190	15	5	e	e	X
emaj-190	15	6	|31	|31	X
emaj-190	15	7	foreign	foreign	ADJ
emaj-190	15	8	capital	capital	NOUN
emaj-190	15	9	,	,	PUNCT
emaj-190	15	10	real	real	ADJ
emaj-190	15	11	sector	sector	NOUN
emaj-190	15	12	financing	financing	NOUN
emaj-190	15	13	and	and	CCONJ
emaj-190	15	14	excessive	excessive	ADJ
emaj-190	15	15	leverage	leverage	NOUN
emaj-190	15	16	in	in	ADP
emaj-190	15	17	turkey	turkey	NOUN
emaj-190	15	18	:	:	PUNCT
emaj-190	15	19	what	what	PRON
emaj-190	15	20	went	go	VERB
emaj-190	15	21	wrong	wrong	ADJ
emaj-190	15	22	?	?	PUNCT
emaj-190	16	1	bahadır	bahadır	PROPN
emaj-190	16	2	karakoç	karakoç	PROPN
emaj-190	16	3	i.	i.	PROPN
emaj-190	16	4	introduction	introduction	PROPN
emaj-190	16	5	recently	recently	ADV
emaj-190	16	6	,	,	PUNCT
emaj-190	16	7	drastic	drastic	ADJ
emaj-190	16	8	shifts	shift	NOUN
emaj-190	16	9	in	in	ADP
emaj-190	16	10	major	major	ADJ
emaj-190	16	11	macro	macro	ADJ
emaj-190	16	12	indicators	indicator	NOUN
emaj-190	16	13	such	such	ADJ
emaj-190	16	14	as	as	ADP
emaj-190	16	15	inflation	inflation	NOUN
emaj-190	16	16	and	and	CCONJ
emaj-190	16	17	interest	interest	NOUN
emaj-190	16	18	rates	rate	NOUN
emaj-190	16	19	,	,	PUNCT
emaj-190	16	20	ensuing	ensue	VERB
emaj-190	16	21	exchange	exchange	NOUN
emaj-190	16	22	rate	rate	NOUN
emaj-190	16	23	fluctuations	fluctuation	NOUN
emaj-190	16	24	revealed	reveal	VERB
emaj-190	16	25	that	that	SCONJ
emaj-190	16	26	non	non	ADJ
emaj-190	16	27	-	-	ADJ
emaj-190	16	28	financial	financial	ADJ
emaj-190	16	29	sector	sector	NOUN
emaj-190	16	30	has	have	AUX
emaj-190	16	31	been	be	AUX
emaj-190	16	32	exposed	expose	VERB
emaj-190	16	33	to	to	ADP
emaj-190	16	34	liquidity	liquidity	NOUN
emaj-190	16	35	and	and	CCONJ
emaj-190	16	36	exchange	exchange	NOUN
emaj-190	16	37	rate	rate	NOUN
emaj-190	16	38	related	relate	VERB
emaj-190	16	39	risks	risk	NOUN
emaj-190	16	40	.	.	PUNCT
emaj-190	17	1	from	from	ADP
emaj-190	17	2	mid-2018	mid-2018	NOUN
emaj-190	17	3	to	to	ADP
emaj-190	17	4	end	end	NOUN
emaj-190	17	5	of	of	ADP
emaj-190	17	6	2018	2018	NUM
emaj-190	17	7	,	,	PUNCT
emaj-190	17	8	value	value	NOUN
emaj-190	17	9	of	of	ADP
emaj-190	17	10	united	united	PROPN
emaj-190	17	11	states	states	PROPN
emaj-190	17	12	(	(	PUNCT
emaj-190	17	13	u.s	u.s	PROPN
emaj-190	17	14	.	.	PROPN
emaj-190	17	15	)	)	PUNCT
emaj-190	17	16	dollar	dollar	NOUN
emaj-190	17	17	hit	hit	VERB
emaj-190	17	18	historical	historical	ADJ
emaj-190	17	19	highs	high	NOUN
emaj-190	17	20	against	against	ADP
emaj-190	17	21	turkish	turkish	ADJ
emaj-190	17	22	lira	lira	NOUN
emaj-190	17	23	and	and	CCONJ
emaj-190	17	24	economic	economic	ADJ
emaj-190	17	25	conditions	condition	NOUN
emaj-190	17	26	led	lead	VERB
emaj-190	17	27	to	to	ADP
emaj-190	17	28	hundreds	hundred	NOUN
emaj-190	17	29	of	of	ADP
emaj-190	17	30	firms	firm	NOUN
emaj-190	17	31	going	go	VERB
emaj-190	17	32	to	to	ADP
emaj-190	17	33	court	court	NOUN
emaj-190	17	34	for	for	ADP
emaj-190	17	35	concordat	concordat	NOUN
emaj-190	17	36	.	.	PUNCT
emaj-190	18	1	particularly	particularly	ADV
emaj-190	18	2	,	,	PUNCT
emaj-190	18	3	the	the	DET
emaj-190	18	4	sensitivity	sensitivity	NOUN
emaj-190	18	5	toward	toward	ADP
emaj-190	18	6	the	the	DET
emaj-190	18	7	fluctuations	fluctuation	NOUN
emaj-190	18	8	in	in	ADP
emaj-190	18	9	exchange	exchange	NOUN
emaj-190	18	10	rate	rate	NOUN
emaj-190	18	11	motivates	motivate	VERB
emaj-190	18	12	this	this	DET
emaj-190	18	13	study	study	NOUN
emaj-190	18	14	to	to	PART
emaj-190	18	15	investigate	investigate	VERB
emaj-190	18	16	the	the	DET
emaj-190	18	17	effect	effect	NOUN
emaj-190	18	18	of	of	ADP
emaj-190	18	19	international	international	ADJ
emaj-190	18	20	capital	capital	NOUN
emaj-190	18	21	movements	movement	NOUN
emaj-190	18	22	on	on	ADP
emaj-190	18	23	real	real	ADJ
emaj-190	18	24	sector	sector	NOUN
emaj-190	18	25	’s	’s	PART
emaj-190	18	26	financing	financing	NOUN
emaj-190	18	27	.	.	PUNCT
emaj-190	19	1	therefore	therefore	ADV
emaj-190	19	2	,	,	PUNCT
emaj-190	19	3	the	the	DET
emaj-190	19	4	main	main	ADJ
emaj-190	19	5	goal	goal	NOUN
emaj-190	19	6	of	of	ADP
emaj-190	19	7	the	the	DET
emaj-190	19	8	study	study	NOUN
emaj-190	19	9	is	be	AUX
emaj-190	19	10	formed	form	VERB
emaj-190	19	11	as	as	ADP
emaj-190	19	12	to	to	PART
emaj-190	19	13	document	document	VERB
emaj-190	19	14	the	the	DET
emaj-190	19	15	effect	effect	NOUN
emaj-190	19	16	of	of	ADP
emaj-190	19	17	foreign	foreign	ADJ
emaj-190	19	18	capital	capital	NOUN
emaj-190	19	19	(	(	PUNCT
emaj-190	19	20	fc	fc	INTJ
emaj-190	19	21	)	)	PUNCT
emaj-190	19	22	on	on	ADP
emaj-190	19	23	real	real	ADJ
emaj-190	19	24	sector	sector	NOUN
emaj-190	19	25	’s	’s	PART
emaj-190	19	26	financing	financing	NOUN
emaj-190	19	27	decisions	decision	NOUN
emaj-190	19	28	while	while	SCONJ
emaj-190	19	29	assessing	assess	VERB
emaj-190	19	30	the	the	DET
emaj-190	19	31	efficacy	efficacy	NOUN
emaj-190	19	32	of	of	ADP
emaj-190	19	33	contemporary	contemporary	ADJ
emaj-190	19	34	monetary	monetary	ADJ
emaj-190	19	35	policy	policy	NOUN
emaj-190	19	36	choices	choice	NOUN
emaj-190	19	37	.	.	PUNCT
emaj-190	20	1	the	the	DET
emaj-190	20	2	main	main	ADJ
emaj-190	20	3	hypothesis	hypothesis	NOUN
emaj-190	20	4	investigated	investigate	VERB
emaj-190	20	5	is	be	AUX
emaj-190	20	6	whether	whether	SCONJ
emaj-190	20	7	fc	fc	PROPN
emaj-190	20	8	inflow	inflow	NOUN
emaj-190	20	9	and	and	CCONJ
emaj-190	20	10	contemporary	contemporary	ADJ
emaj-190	20	11	monetary	monetary	ADJ
emaj-190	20	12	policy	policy	NOUN
emaj-190	20	13	have	have	AUX
emaj-190	20	14	created	create	VERB
emaj-190	20	15	a	a	DET
emaj-190	20	16	suitable	suitable	ADJ
emaj-190	20	17	environment	environment	NOUN
emaj-190	20	18	for	for	ADP
emaj-190	20	19	excessive	excessive	ADJ
emaj-190	20	20	borrowing	borrowing	NOUN
emaj-190	20	21	.	.	PUNCT
emaj-190	21	1	what	what	PRON
emaj-190	21	2	are	be	AUX
emaj-190	21	3	some	some	DET
emaj-190	21	4	risks	risk	NOUN
emaj-190	21	5	to	to	ADP
emaj-190	21	6	real	real	ADJ
emaj-190	21	7	sector	sector	NOUN
emaj-190	21	8	accompanying	accompany	VERB
emaj-190	21	9	fc	fc	X
emaj-190	21	10	?	?	PROPN
emaj-190	22	1	did	do	VERB
emaj-190	22	2	financing	financing	NOUN
emaj-190	22	3	challenges	challenge	NOUN
emaj-190	22	4	,	,	PUNCT
emaj-190	22	5	an	an	DET
emaj-190	22	6	important	important	ADJ
emaj-190	22	7	aspect	aspect	NOUN
emaj-190	22	8	to	to	ADP
emaj-190	22	9	firms	firm	NOUN
emaj-190	22	10	financing	financing	NOUN
emaj-190	22	11	policies	policy	NOUN
emaj-190	22	12	,	,	PUNCT
emaj-190	22	13	make	make	VERB
emaj-190	22	14	any	any	DET
emaj-190	22	15	difference	difference	NOUN
emaj-190	22	16	in	in	ADP
emaj-190	22	17	leverage	leverage	NOUN
emaj-190	22	18	decisions	decision	NOUN
emaj-190	22	19	?	?	PUNCT
emaj-190	23	1	what	what	PRON
emaj-190	23	2	are	be	AUX
emaj-190	23	3	the	the	DET
emaj-190	23	4	major	major	ADJ
emaj-190	23	5	monetary	monetary	ADJ
emaj-190	23	6	policy	policy	NOUN
emaj-190	23	7	dimensions	dimension	NOUN
emaj-190	23	8	,	,	PUNCT
emaj-190	23	9	deployed	deploy	VERB
emaj-190	23	10	to	to	PART
emaj-190	23	11	accommodate	accommodate	VERB
emaj-190	23	12	capital	capital	NOUN
emaj-190	23	13	movements	movement	NOUN
emaj-190	23	14	?	?	PUNCT
emaj-190	24	1	has	have	AUX
emaj-190	24	2	the	the	DET
emaj-190	24	3	monetary	monetary	ADJ
emaj-190	24	4	policy	policy	NOUN
emaj-190	24	5	been	be	AUX
emaj-190	24	6	effective	effective	ADJ
emaj-190	24	7	enough	enough	ADV
emaj-190	24	8	to	to	PART
emaj-190	24	9	mitigate	mitigate	VERB
emaj-190	24	10	potential	potential	ADJ
emaj-190	24	11	risks	risk	NOUN
emaj-190	24	12	or	or	CCONJ
emaj-190	24	13	has	have	AUX
emaj-190	24	14	it	it	PRON
emaj-190	24	15	simply	simply	ADV
emaj-190	24	16	facilitated	facilitate	VERB
emaj-190	24	17	borrowing	borrowing	NOUN
emaj-190	24	18	process	process	NOUN
emaj-190	24	19	and	and	CCONJ
emaj-190	24	20	allowed	allow	VERB
emaj-190	24	21	real	real	ADJ
emaj-190	24	22	sector	sector	NOUN
emaj-190	24	23	’s	’s	PART
emaj-190	24	24	debt	debt	NOUN
emaj-190	24	25	burden	burden	NOUN
emaj-190	24	26	to	to	PART
emaj-190	24	27	grow	grow	VERB
emaj-190	24	28	?	?	PUNCT
emaj-190	25	1	answers	answer	NOUN
emaj-190	25	2	to	to	ADP
emaj-190	25	3	these	these	DET
emaj-190	25	4	questions	question	NOUN
emaj-190	25	5	can	can	AUX
emaj-190	25	6	provide	provide	VERB
emaj-190	25	7	insight	insight	NOUN
emaj-190	25	8	into	into	ADP
emaj-190	25	9	real	real	ADJ
emaj-190	25	10	sources	source	NOUN
emaj-190	25	11	of	of	ADP
emaj-190	25	12	weaknesses	weakness	NOUN
emaj-190	25	13	embedded	embed	VERB
emaj-190	25	14	in	in	ADP
emaj-190	25	15	the	the	DET
emaj-190	25	16	economy	economy	NOUN
emaj-190	25	17	,	,	PUNCT
emaj-190	25	18	which	which	PRON
emaj-190	25	19	also	also	ADV
emaj-190	25	20	makes	make	VERB
emaj-190	25	21	it	it	PRON
emaj-190	25	22	vulnerable	vulnerable	ADJ
emaj-190	25	23	to	to	ADP
emaj-190	25	24	foreign	foreign	ADJ
emaj-190	25	25	monetary	monetary	ADJ
emaj-190	25	26	policy	policy	NOUN
emaj-190	25	27	shocks	shock	NOUN
emaj-190	25	28	.	.	PUNCT
emaj-190	26	1	they	they	PRON
emaj-190	26	2	may	may	AUX
emaj-190	26	3	assist	assist	VERB
emaj-190	26	4	with	with	ADP
emaj-190	26	5	identifying	identify	VERB
emaj-190	26	6	the	the	DET
emaj-190	26	7	needs	need	NOUN
emaj-190	26	8	of	of	ADP
emaj-190	26	9	non	non	ADJ
emaj-190	26	10	-	-	ADJ
emaj-190	26	11	financial	financial	ADJ
emaj-190	26	12	sector	sector	NOUN
emaj-190	26	13	and	and	CCONJ
emaj-190	26	14	creating	create	VERB
emaj-190	26	15	relevant	relevant	ADJ
emaj-190	26	16	policies	policy	NOUN
emaj-190	26	17	.	.	PUNCT
emaj-190	27	1	the	the	DET
emaj-190	27	2	findings	finding	NOUN
emaj-190	27	3	may	may	AUX
emaj-190	27	4	also	also	ADV
emaj-190	27	5	contribute	contribute	VERB
emaj-190	27	6	to	to	ADP
emaj-190	27	7	developing	develop	VERB
emaj-190	27	8	more	more	ADV
emaj-190	27	9	effective	effective	ADJ
emaj-190	27	10	policy	policy	NOUN
emaj-190	27	11	responses	response	NOUN
emaj-190	27	12	as	as	SCONJ
emaj-190	27	13	to	to	PART
emaj-190	27	14	reap	reap	VERB
emaj-190	27	15	the	the	DET
emaj-190	27	16	benefits	benefit	NOUN
emaj-190	27	17	of	of	ADP
emaj-190	27	18	fc	fc	PROPN
emaj-190	27	19	while	while	SCONJ
emaj-190	27	20	avoiding	avoid	VERB
emaj-190	27	21	the	the	DET
emaj-190	27	22	negative	negative	ADJ
emaj-190	27	23	consequences	consequence	NOUN
emaj-190	27	24	associated	associate	VERB
emaj-190	27	25	with	with	ADP
emaj-190	27	26	it	it	PRON
emaj-190	27	27	.	.	PUNCT
emaj-190	28	1	present	present	ADJ
emaj-190	28	2	study	study	NOUN
emaj-190	28	3	contributes	contribute	VERB
emaj-190	28	4	to	to	ADP
emaj-190	28	5	the	the	DET
emaj-190	28	6	literature	literature	NOUN
emaj-190	28	7	by	by	ADP
emaj-190	28	8	comparatively	comparatively	ADV
emaj-190	28	9	examining	examine	VERB
emaj-190	28	10	leverage	leverage	NOUN
emaj-190	28	11	decision	decision	NOUN
emaj-190	28	12	of	of	ADP
emaj-190	28	13	private	private	ADJ
emaj-190	28	14	smes	sme	NOUN
emaj-190	28	15	and	and	CCONJ
emaj-190	28	16	public	public	ADJ
emaj-190	28	17	firms	firm	NOUN
emaj-190	28	18	and	and	CCONJ
emaj-190	28	19	documenting	document	VERB
emaj-190	28	20	how	how	SCONJ
emaj-190	28	21	they	they	PRON
emaj-190	28	22	are	be	AUX
emaj-190	28	23	affected	affect	VERB
emaj-190	28	24	from	from	ADP
emaj-190	28	25	expansionary	expansionary	ADJ
emaj-190	28	26	state	state	NOUN
emaj-190	28	27	of	of	ADP
emaj-190	28	28	the	the	DET
emaj-190	28	29	economy	economy	NOUN
emaj-190	28	30	.	.	PUNCT
emaj-190	29	1	it	it	PRON
emaj-190	29	2	also	also	ADV
emaj-190	29	3	offers	offer	VERB
emaj-190	29	4	useful	useful	ADJ
emaj-190	29	5	findings	finding	NOUN
emaj-190	29	6	regarding	regard	VERB
emaj-190	29	7	the	the	DET
emaj-190	29	8	benefits	benefit	NOUN
emaj-190	29	9	and	and	CCONJ
emaj-190	29	10	risks	risk	NOUN
emaj-190	29	11	associated	associate	VERB
emaj-190	29	12	with	with	ADP
emaj-190	29	13	foreign	foreign	ADJ
emaj-190	29	14	capital	capital	NOUN
emaj-190	29	15	inflow	inflow	NOUN
emaj-190	29	16	to	to	ADP
emaj-190	29	17	an	an	DET
emaj-190	29	18	emerging	emerge	VERB
emaj-190	29	19	economy	economy	NOUN
emaj-190	29	20	such	such	ADJ
emaj-190	29	21	as	as	ADP
emaj-190	29	22	turkey	turkey	NOUN
emaj-190	29	23	.	.	PUNCT
emaj-190	30	1	to	to	ADP
emaj-190	30	2	the	the	DET
emaj-190	30	3	best	good	ADJ
emaj-190	30	4	of	of	ADP
emaj-190	30	5	my	my	PRON
emaj-190	30	6	knowledge	knowledge	NOUN
emaj-190	30	7	,	,	PUNCT
emaj-190	30	8	there	there	PRON
emaj-190	30	9	has	have	AUX
emaj-190	30	10	not	not	PART
emaj-190	30	11	been	be	AUX
emaj-190	30	12	such	such	DET
emaj-190	30	13	a	a	DET
emaj-190	30	14	study	study	NOUN
emaj-190	30	15	focusing	focus	VERB
emaj-190	30	16	on	on	ADP
emaj-190	30	17	the	the	DET
emaj-190	30	18	impact	impact	NOUN
emaj-190	30	19	generated	generate	VERB
emaj-190	30	20	by	by	ADP
emaj-190	30	21	recent	recent	ADJ
emaj-190	30	22	fc	fc	PROPN
emaj-190	30	23	inflow	inflow	NOUN
emaj-190	30	24	and	and	CCONJ
emaj-190	30	25	the	the	DET
emaj-190	30	26	contemporary	contemporary	ADJ
emaj-190	30	27	monetary	monetary	ADJ
emaj-190	30	28	policy	policy	NOUN
emaj-190	30	29	decisions	decision	NOUN
emaj-190	30	30	on	on	ADP
emaj-190	30	31	real	real	ADJ
emaj-190	30	32	sectors	sector	NOUN
emaj-190	30	33	financing	financing	NOUN
emaj-190	30	34	choices	choice	NOUN
emaj-190	30	35	in	in	ADP
emaj-190	30	36	turkey	turkey	NOUN
emaj-190	30	37	,	,	PUNCT
emaj-190	30	38	and	and	CCONJ
emaj-190	30	39	the	the	DET
emaj-190	30	40	current	current	ADJ
emaj-190	30	41	study	study	NOUN
emaj-190	30	42	may	may	AUX
emaj-190	30	43	fill	fill	VERB
emaj-190	30	44	the	the	DET
emaj-190	30	45	void	void	NOUN
emaj-190	30	46	.	.	PUNCT
emaj-190	31	1	to	to	PART
emaj-190	31	2	achieve	achieve	VERB
emaj-190	31	3	the	the	DET
emaj-190	31	4	stated	state	VERB
emaj-190	31	5	objectives	objective	NOUN
emaj-190	31	6	,	,	PUNCT
emaj-190	31	7	the	the	DET
emaj-190	31	8	effect	effect	NOUN
emaj-190	31	9	of	of	ADP
emaj-190	31	10	monetary	monetary	ADJ
emaj-190	31	11	policy	policy	NOUN
emaj-190	31	12	and	and	CCONJ
emaj-190	31	13	fc	fc	PROPN
emaj-190	31	14	inflow	inflow	NOUN
emaj-190	31	15	is	be	AUX
emaj-190	31	16	investigated	investigate	VERB
emaj-190	31	17	using	use	VERB
emaj-190	31	18	corporate	corporate	ADJ
emaj-190	31	19	data	datum	NOUN
emaj-190	31	20	collected	collect	VERB
emaj-190	31	21	by	by	ADP
emaj-190	31	22	the	the	DET
emaj-190	31	23	turkish	turkish	ADJ
emaj-190	31	24	central	central	PROPN
emaj-190	31	25	bank	bank	PROPN
emaj-190	31	26	(	(	PUNCT
emaj-190	31	27	cbrt	cbrt	PROPN
emaj-190	31	28	)	)	PUNCT
emaj-190	31	29	.	.	PUNCT
emaj-190	32	1	the	the	DET
emaj-190	32	2	data	datum	NOUN
emaj-190	32	3	set	set	VERB
emaj-190	32	4	includes	include	VERB
emaj-190	32	5	more	more	ADJ
emaj-190	32	6	than	than	ADP
emaj-190	32	7	30.000	30.000	NUM
emaj-190	32	8	firms	firm	NOUN
emaj-190	32	9	in	in	ADP
emaj-190	32	10	various	various	ADJ
emaj-190	32	11	size	size	NOUN
emaj-190	32	12	and	and	CCONJ
emaj-190	32	13	ownership	ownership	NOUN
emaj-190	32	14	structure	structure	NOUN
emaj-190	32	15	,	,	PUNCT
emaj-190	32	16	presenting	present	VERB
emaj-190	32	17	opportunity	opportunity	NOUN
emaj-190	32	18	to	to	PART
emaj-190	32	19	test	test	VERB
emaj-190	32	20	the	the	DET
emaj-190	32	21	hypothesis	hypothesis	NOUN
emaj-190	32	22	on	on	ADP
emaj-190	32	23	firms	firm	NOUN
emaj-190	32	24	with	with	ADP
emaj-190	32	25	different	different	ADJ
emaj-190	32	26	degrees	degree	NOUN
emaj-190	32	27	of	of	ADP
emaj-190	32	28	access	access	NOUN
emaj-190	32	29	to	to	ADP
emaj-190	32	30	external	external	ADJ
emaj-190	32	31	funding	funding	NOUN
emaj-190	32	32	.	.	PUNCT
emaj-190	33	1	firms	firm	NOUN
emaj-190	33	2	are	be	AUX
emaj-190	33	3	separated	separate	VERB
emaj-190	33	4	into	into	ADP
emaj-190	33	5	groups	group	NOUN
emaj-190	33	6	in	in	ADP
emaj-190	33	7	accordance	accordance	NOUN
emaj-190	33	8	with	with	ADP
emaj-190	33	9	their	their	PRON
emaj-190	33	10	financial	financial	ADJ
emaj-190	33	11	strength	strength	NOUN
emaj-190	33	12	.	.	PUNCT
emaj-190	34	1	commonly	commonly	ADV
emaj-190	34	2	used	use	VERB
emaj-190	34	3	measures	measure	NOUN
emaj-190	34	4	such	such	ADJ
emaj-190	34	5	as	as	ADP
emaj-190	34	6	dividend	dividend	NOUN
emaj-190	34	7	payment	payment	NOUN
emaj-190	34	8	(	(	PUNCT
emaj-190	34	9	fazzari	fazzari	PROPN
emaj-190	34	10	et	et	PROPN
emaj-190	34	11	al	al	PROPN
emaj-190	34	12	.	.	PROPN
emaj-190	34	13	,	,	PUNCT
emaj-190	34	14	1988	1988	NUM
emaj-190	34	15	)	)	PUNCT
emaj-190	34	16	,	,	PUNCT
emaj-190	34	17	or	or	CCONJ
emaj-190	34	18	credit	credit	NOUN
emaj-190	34	19	rating	rating	NOUN
emaj-190	34	20	(	(	PUNCT
emaj-190	34	21	korajczy	korajczy	PROPN
emaj-190	34	22	&	&	CCONJ
emaj-190	34	23	levy	levy	PROPN
emaj-190	34	24	,	,	PUNCT
emaj-190	34	25	2003	2003	NUM
emaj-190	34	26	)	)	PUNCT
emaj-190	34	27	are	be	AUX
emaj-190	34	28	not	not	PART
emaj-190	34	29	available	available	ADJ
emaj-190	34	30	in	in	ADP
emaj-190	34	31	case	case	NOUN
emaj-190	34	32	of	of	ADP
emaj-190	34	33	private	private	ADJ
emaj-190	34	34	firms	firm	NOUN
emaj-190	34	35	,	,	PUNCT
emaj-190	34	36	hence	hence	ADV
emaj-190	34	37	firstly	firstly	ADV
emaj-190	34	38	,	,	PUNCT
emaj-190	34	39	asset	asset	NOUN
emaj-190	34	40	size1	size1	NOUN
emaj-190	34	41	is	be	AUX
emaj-190	34	42	used	use	VERB
emaj-190	34	43	to	to	PART
emaj-190	34	44	classify	classify	VERB
emaj-190	34	45	firms	firm	NOUN
emaj-190	34	46	,	,	PUNCT
emaj-190	34	47	since	since	SCONJ
emaj-190	34	48	size	size	NOUN
emaj-190	34	49	can	can	AUX
emaj-190	34	50	be	be	AUX
emaj-190	34	51	a	a	DET
emaj-190	34	52	valid	valid	ADJ
emaj-190	34	53	proxy	proxy	NOUN
emaj-190	34	54	for	for	ADP
emaj-190	34	55	a	a	DET
emaj-190	34	56	firm	firm	NOUN
emaj-190	34	57	’s	’s	PART
emaj-190	34	58	ability	ability	NOUN
emaj-190	34	59	to	to	PART
emaj-190	34	60	access	access	VERB
emaj-190	34	61	to	to	ADP
emaj-190	34	62	external	external	ADJ
emaj-190	34	63	capital	capital	NOUN
emaj-190	34	64	(	(	PUNCT
emaj-190	34	65	petersen	petersen	PROPN
emaj-190	34	66	and	and	CCONJ
emaj-190	34	67	rajan	rajan	PROPN
emaj-190	34	68	,	,	PUNCT
emaj-190	34	69	1997	1997	NUM
emaj-190	34	70	)	)	PUNCT
emaj-190	34	71	.	.	PUNCT
emaj-190	35	1	the	the	DET
emaj-190	35	2	reasoning	reasoning	NOUN
emaj-190	35	3	is	be	AUX
emaj-190	35	4	very	very	ADV
emaj-190	35	5	simple	simple	ADJ
emaj-190	35	6	but	but	CCONJ
emaj-190	35	7	intuitive	intuitive	ADJ
emaj-190	35	8	that	that	SCONJ
emaj-190	35	9	smaller	small	ADJ
emaj-190	35	10	firms	firm	NOUN
emaj-190	35	11	are	be	AUX
emaj-190	35	12	more	more	ADV
emaj-190	35	13	likely	likely	ADJ
emaj-190	35	14	to	to	PART
emaj-190	35	15	be	be	AUX
emaj-190	35	16	dependent	dependent	ADJ
emaj-190	35	17	on	on	ADP
emaj-190	35	18	bank	bank	NOUN
emaj-190	35	19	credit	credit	NOUN
emaj-190	35	20	and	and	CCONJ
emaj-190	35	21	discriminated	discriminate	VERB
emaj-190	35	22	in	in	ADP
emaj-190	35	23	loan	loan	NOUN
emaj-190	35	24	applications	application	NOUN
emaj-190	35	25	because	because	SCONJ
emaj-190	35	26	of	of	ADP
emaj-190	35	27	severe	severe	ADJ
emaj-190	35	28	agency	agency	NOUN
emaj-190	35	29	cost	cost	NOUN
emaj-190	35	30	(	(	PUNCT
emaj-190	35	31	blasio	blasio	ADJ
emaj-190	35	32	,	,	PUNCT
emaj-190	35	33	2003	2003	NUM
emaj-190	35	34	)	)	PUNCT
emaj-190	35	35	.	.	PUNCT
emaj-190	36	1	theoretical	theoretical	ADJ
emaj-190	36	2	ground	ground	NOUN
emaj-190	36	3	for	for	ADP
emaj-190	36	4	the	the	DET
emaj-190	36	5	limited	limited	ADJ
emaj-190	36	6	access	access	NOUN
emaj-190	36	7	of	of	ADP
emaj-190	36	8	financially	financially	ADV
emaj-190	36	9	constrained	constrain	VERB
emaj-190	36	10	small	small	ADJ
emaj-190	36	11	firms	firm	NOUN
emaj-190	36	12	have	have	AUX
emaj-190	36	13	been	be	AUX
emaj-190	36	14	covered	cover	VERB
emaj-190	36	15	at	at	ADP
emaj-190	36	16	length	length	NOUN
emaj-190	36	17	by	by	ADP
emaj-190	36	18	bernanke	bernanke	PROPN
emaj-190	36	19	et	et	NOUN
emaj-190	36	20	al.(1996	al.(1996	PROPN
emaj-190	36	21	)	)	PUNCT
emaj-190	36	22	;	;	PUNCT
emaj-190	36	23	gertler	gertler	NOUN
emaj-190	36	24	and	and	CCONJ
emaj-190	36	25	gilchrist	gilchrist	NOUN
emaj-190	36	26	(	(	PUNCT
emaj-190	36	27	1994	1994	NUM
emaj-190	36	28	)	)	PUNCT
emaj-190	36	29	;	;	PUNCT
emaj-190	36	30	kashyap	kashyap	PROPN
emaj-190	36	31	et	et	PROPN
emaj-190	36	32	al.(1993	al.(1993	PROPN
emaj-190	36	33	)	)	PUNCT
emaj-190	36	34	.	.	PUNCT
emaj-190	37	1	common	common	ADJ
emaj-190	37	2	theme	theme	NOUN
emaj-190	37	3	hypothesized	hypothesize	VERB
emaj-190	37	4	in	in	ADP
emaj-190	37	5	those	those	DET
emaj-190	37	6	studies	study	NOUN
emaj-190	37	7	is	be	AUX
emaj-190	37	8	that	that	SCONJ
emaj-190	37	9	severe	severe	ADJ
emaj-190	37	10	agency	agency	NOUN
emaj-190	37	11	cost	cost	NOUN
emaj-190	37	12	arising	arise	VERB
emaj-190	37	13	from	from	ADP
emaj-190	37	14	informational	informational	ADJ
emaj-190	37	15	asymmetry	asymmetry	NOUN
emaj-190	37	16	between	between	ADP
emaj-190	37	17	banks	bank	NOUN
emaj-190	37	18	and	and	CCONJ
emaj-190	37	19	bank	bank	NOUN
emaj-190	37	20	-	-	PUNCT
emaj-190	37	21	dependent	dependent	ADJ
emaj-190	37	22	small	small	ADJ
emaj-190	37	23	firms	firm	NOUN
emaj-190	37	24	leads	lead	VERB
emaj-190	37	25	to	to	ADP
emaj-190	37	26	constraints	constraint	NOUN
emaj-190	37	27	in	in	ADP
emaj-190	37	28	the	the	DET
emaj-190	37	29	form	form	NOUN
emaj-190	37	30	of	of	ADP
emaj-190	37	31	higher	high	ADJ
emaj-190	37	32	cost	cost	NOUN
emaj-190	37	33	of	of	ADP
emaj-190	37	34	external	external	ADJ
emaj-190	37	35	financing	financing	NOUN
emaj-190	37	36	,	,	PUNCT
emaj-190	37	37	limited	limited	ADJ
emaj-190	37	38	or	or	CCONJ
emaj-190	37	39	complete	complete	ADJ
emaj-190	37	40	denial	denial	NOUN
emaj-190	37	41	of	of	ADP
emaj-190	37	42	access	access	NOUN
emaj-190	37	43	to	to	ADP
emaj-190	37	44	funds	fund	NOUN
emaj-190	37	45	.	.	PUNCT
emaj-190	38	1	however	however	ADV
emaj-190	38	2	,	,	PUNCT
emaj-190	38	3	their	their	PRON
emaj-190	38	4	access	access	NOUN
emaj-190	38	5	can	can	AUX
emaj-190	38	6	be	be	AUX
emaj-190	38	7	enhanced	enhance	VERB
emaj-190	38	8	or	or	CCONJ
emaj-190	38	9	impaired	impair	VERB
emaj-190	38	10	by	by	ADP
emaj-190	38	11	the	the	DET
emaj-190	38	12	stance	stance	NOUN
emaj-190	38	13	of	of	ADP
emaj-190	38	14	monetary	monetary	ADJ
emaj-190	38	15	policy	policy	NOUN
emaj-190	38	16	.	.	PUNCT
emaj-190	39	1	bernanke	bernanke	PROPN
emaj-190	39	2	et	et	PROPN
emaj-190	39	3	al	al	PROPN
emaj-190	39	4	.	.	PROPN
emaj-190	39	5	(	(	PUNCT
emaj-190	39	6	1996	1996	NUM
emaj-190	39	7	)	)	PUNCT
emaj-190	39	8	argue	argue	VERB
emaj-190	39	9	that	that	SCONJ
emaj-190	39	10	,	,	PUNCT
emaj-190	39	11	during	during	ADP
emaj-190	39	12	monetary	monetary	ADJ
emaj-190	39	13	contractions	contraction	NOUN
emaj-190	39	14	limited	limited	ADJ
emaj-190	39	15	credit	credit	NOUN
emaj-190	39	16	supply	supply	NOUN
emaj-190	39	17	will	will	AUX
emaj-190	39	18	be	be	AUX
emaj-190	39	19	directed	direct	VERB
emaj-190	39	20	largely	largely	ADV
emaj-190	39	21	toward	toward	ADP
emaj-190	39	22	financially	financially	ADV
emaj-190	39	23	solid	solid	ADJ
emaj-190	39	24	firms	firm	NOUN
emaj-190	39	25	,	,	PUNCT
emaj-190	39	26	i.e.	i.e.	X
emaj-190	39	27	an	an	DET
emaj-190	39	28	episode	episode	NOUN
emaj-190	39	29	of	of	ADP
emaj-190	39	30	“	"	PUNCT
emaj-190	39	31	flight	flight	NOUN
emaj-190	39	32	to	to	ADP
emaj-190	39	33	quality	quality	NOUN
emaj-190	39	34	”	"	PUNCT
emaj-190	39	35	will	will	AUX
emaj-190	39	36	take	take	VERB
emaj-190	39	37	place	place	NOUN
emaj-190	39	38	.	.	PUNCT
emaj-190	40	1	since	since	SCONJ
emaj-190	40	2	our	our	PRON
emaj-190	40	3	primary	primary	ADJ
emaj-190	40	4	objective	objective	NOUN
emaj-190	40	5	is	be	AUX
emaj-190	40	6	to	to	PART
emaj-190	40	7	document	document	VERB
emaj-190	40	8	the	the	DET
emaj-190	40	9	effect	effect	NOUN
emaj-190	40	10	of	of	ADP
emaj-190	40	11	fc	fc	PROPN
emaj-190	40	12	and	and	CCONJ
emaj-190	40	13	monetary	monetary	ADJ
emaj-190	40	14	policy	policy	NOUN
emaj-190	40	15	on	on	ADP
emaj-190	40	16	borrowing	borrowing	NOUN
emaj-190	40	17	decision	decision	NOUN
emaj-190	40	18	,	,	PUNCT
emaj-190	40	19	the	the	DET
emaj-190	40	20	choice	choice	NOUN
emaj-190	40	21	of	of	ADP
emaj-190	40	22	criterion	criterion	NOUN
emaj-190	40	23	by	by	ADP
emaj-190	40	24	which	which	PRON
emaj-190	40	25	firms	firm	NOUN
emaj-190	40	26	are	be	AUX
emaj-190	40	27	separated	separate	VERB
emaj-190	40	28	seems	seem	VERB
emaj-190	40	29	to	to	PART
emaj-190	40	30	serve	serve	VERB
emaj-190	40	31	well	well	ADV
emaj-190	40	32	to	to	ADP
emaj-190	40	33	the	the	DET
emaj-190	40	34	goal	goal	NOUN
emaj-190	40	35	of	of	ADP
emaj-190	40	36	the	the	DET
emaj-190	40	37	study	study	NOUN
emaj-190	40	38	.	.	PUNCT
emaj-190	41	1	secondly	secondly	ADV
emaj-190	41	2	,	,	PUNCT
emaj-190	41	3	stock	stock	NOUN
emaj-190	41	4	listing	list	VERB
emaj-190	41	5	status	status	NOUN
emaj-190	41	6	is	be	AUX
emaj-190	41	7	used	use	VERB
emaj-190	41	8	to	to	ADP
emaj-190	41	9	group	group	NOUN
emaj-190	41	10	firms	firm	NOUN
emaj-190	41	11	.	.	PUNCT
emaj-190	42	1	being	be	AUX
emaj-190	42	2	listed	list	VERB
emaj-190	42	3	on	on	ADP
emaj-190	42	4	a	a	DET
emaj-190	42	5	stock	stock	NOUN
emaj-190	42	6	market	market	NOUN
emaj-190	42	7	may	may	AUX
emaj-190	42	8	allow	allow	VERB
emaj-190	42	9	firms	firm	NOUN
emaj-190	42	10	to	to	PART
emaj-190	42	11	gain	gain	VERB
emaj-190	42	12	access	access	NOUN
emaj-190	42	13	to	to	ADP
emaj-190	42	14	less	less	ADV
emaj-190	42	15	costly	costly	ADJ
emaj-190	42	16	equity	equity	NOUN
emaj-190	42	17	financing	financing	NOUN
emaj-190	42	18	,	,	PUNCT
emaj-190	42	19	which	which	PRON
emaj-190	42	20	may	may	AUX
emaj-190	42	21	reduce	reduce	VERB
emaj-190	42	22	their	their	PRON
emaj-190	42	23	reliance	reliance	NOUN
emaj-190	42	24	on	on	ADP
emaj-190	42	25	debt	debt	NOUN
emaj-190	42	26	financing	financing	NOUN
emaj-190	42	27	(	(	PUNCT
emaj-190	42	28	brav	brav	PROPN
emaj-190	42	29	,	,	PUNCT
emaj-190	42	30	2009	2009	NUM
emaj-190	42	31	)	)	PUNCT
emaj-190	42	32	.	.	PUNCT
emaj-190	43	1	it	it	PRON
emaj-190	43	2	can	can	AUX
emaj-190	43	3	also	also	ADV
emaj-190	43	4	provide	provide	VERB
emaj-190	43	5	better	well	ADJ
emaj-190	43	6	access	access	NOUN
emaj-190	43	7	to	to	ADP
emaj-190	43	8	external	external	ADJ
emaj-190	43	9	funding	funding	NOUN
emaj-190	43	10	at	at	ADP
emaj-190	43	11	a	a	DET
emaj-190	43	12	cheaper	cheap	ADJ
emaj-190	43	13	cost	cost	NOUN
emaj-190	43	14	and	and	CCONJ
emaj-190	43	15	for	for	ADP
emaj-190	43	16	a	a	DET
emaj-190	43	17	longer	long	ADJ
emaj-190	43	18	term	term	NOUN
emaj-190	43	19	(	(	PUNCT
emaj-190	43	20	abdulla	abdulla	PROPN
emaj-190	43	21	et	et	PROPN
emaj-190	43	22	al	al	PROPN
emaj-190	43	23	,	,	PUNCT
emaj-190	43	24	2016	2016	NUM
emaj-190	43	25	)	)	PUNCT
emaj-190	43	26	,	,	PUNCT
emaj-190	43	27	reducing	reduce	VERB
emaj-190	43	28	the	the	DET
emaj-190	43	29	severity	severity	NOUN
emaj-190	43	30	of	of	ADP
emaj-190	43	31	financing	financing	NOUN
emaj-190	43	32	challenges	challenge	NOUN
emaj-190	43	33	.	.	PUNCT
emaj-190	44	1	our	our	PRON
emaj-190	44	2	reasoning	reasoning	NOUN
emaj-190	44	3	relies	rely	VERB
emaj-190	44	4	on	on	ADP
emaj-190	44	5	the	the	DET
emaj-190	44	6	assumption	assumption	NOUN
emaj-190	44	7	that	that	SCONJ
emaj-190	44	8	private	private	ADJ
emaj-190	44	9	firms	firm	NOUN
emaj-190	44	10	tend	tend	VERB
emaj-190	44	11	to	to	PART
emaj-190	44	12	be	be	AUX
emaj-190	44	13	more	more	ADJ
emaj-190	44	14	illiquid	illiquid	ADJ
emaj-190	44	15	(	(	PUNCT
emaj-190	44	16	asker	asker	NOUN
emaj-190	44	17	et	et	PROPN
emaj-190	44	18	al	al	PROPN
emaj-190	44	19	.	.	PROPN
emaj-190	44	20	,	,	PUNCT
emaj-190	44	21	2015	2015	NUM
emaj-190	44	22	)	)	PUNCT
emaj-190	44	23	and	and	CCONJ
emaj-190	44	24	in	in	ADP
emaj-190	44	25	need	need	NOUN
emaj-190	44	26	of	of	ADP
emaj-190	44	27	external	external	ADJ
emaj-190	44	28	funding	funding	NOUN
emaj-190	44	29	.	.	PUNCT
emaj-190	45	1	moreover	moreover	ADV
emaj-190	45	2	,	,	PUNCT
emaj-190	45	3	public	public	ADJ
emaj-190	45	4	firms	firm	NOUN
emaj-190	45	5	suffer	suffer	VERB
emaj-190	45	6	relatively	relatively	ADV
emaj-190	45	7	less	less	ADJ
emaj-190	45	8	from	from	ADP
emaj-190	45	9	asymmetric	asymmetric	ADJ
emaj-190	45	10	information	information	NOUN
emaj-190	45	11	,	,	PUNCT
emaj-190	45	12	and	and	CCONJ
emaj-190	45	13	financial	financial	ADJ
emaj-190	45	14	constraints	constraint	NOUN
emaj-190	45	15	are	be	AUX
emaj-190	45	16	less	less	ADV
emaj-190	45	17	binding	binding	ADJ
emaj-190	45	18	(	(	PUNCT
emaj-190	45	19	brav	brav	PROPN
emaj-190	45	20	,	,	PUNCT
emaj-190	45	21	2009	2009	NUM
emaj-190	45	22	;	;	PUNCT
emaj-190	45	23	schenone	schenone	NOUN
emaj-190	45	24	,	,	PUNCT
emaj-190	45	25	2010	2010	NUM
emaj-190	45	26	)	)	PUNCT
emaj-190	45	27	.	.	PUNCT
emaj-190	46	1	empirical	empirical	ADJ
emaj-190	46	2	findings	finding	NOUN
emaj-190	46	3	from	from	ADP
emaj-190	46	4	previous	previous	ADJ
emaj-190	46	5	studies	study	NOUN
emaj-190	46	6	are	be	AUX
emaj-190	46	7	in	in	ADP
emaj-190	46	8	support	support	NOUN
emaj-190	46	9	of	of	ADP
emaj-190	46	10	these	these	DET
emaj-190	46	11	arguments	argument	NOUN
emaj-190	46	12	that	that	SCONJ
emaj-190	46	13	public	public	ADJ
emaj-190	46	14	firms	firm	NOUN
emaj-190	46	15	tend	tend	VERB
emaj-190	46	16	to	to	PART
emaj-190	46	17	have	have	VERB
emaj-190	46	18	stronger	strong	ADJ
emaj-190	46	19	access	access	NOUN
emaj-190	46	20	to	to	ADP
emaj-190	46	21	credit	credit	NOUN
emaj-190	46	22	lines	line	NOUN
emaj-190	46	23	(	(	PUNCT
emaj-190	46	24	demiroğlu	demiroğlu	VERB
emaj-190	46	25	et	et	PROPN
emaj-190	46	26	al	al	PROPN
emaj-190	46	27	.	.	PROPN
emaj-190	46	28	,	,	PUNCT
emaj-190	46	29	2012	2012	NUM
emaj-190	46	30	;	;	PUNCT
emaj-190	46	31	farre	farre	PROPN
emaj-190	46	32	-	-	PUNCT
emaj-190	46	33	mensa	mensa	NOUN
emaj-190	46	34	and	and	CCONJ
emaj-190	46	35	ljungqvist	ljungqvist	NOUN
emaj-190	46	36	,	,	PUNCT
emaj-190	46	37	2016	2016	NUM
emaj-190	46	38	)	)	PUNCT
emaj-190	46	39	.	.	PUNCT
emaj-190	47	1	thus	thus	ADV
emaj-190	47	2	,	,	PUNCT
emaj-190	47	3	the	the	DET
emaj-190	47	4	discussion	discussion	NOUN
emaj-190	47	5	leads	lead	VERB
emaj-190	47	6	to	to	ADP
emaj-190	47	7	a	a	DET
emaj-190	47	8	question	question	NOUN
emaj-190	47	9	whether	whether	SCONJ
emaj-190	47	10	public	public	ADJ
emaj-190	47	11	and	and	CCONJ
emaj-190	47	12	private	private	ADJ
emaj-190	47	13	firms	firm	NOUN
emaj-190	47	14	are	be	AUX
emaj-190	47	15	affected	affect	VERB
emaj-190	47	16	1hadlock	1hadlock	NUM
emaj-190	47	17	&	&	CCONJ
emaj-190	47	18	pierce	pierce	PROPN
emaj-190	47	19	(	(	PUNCT
emaj-190	47	20	2010	2010	NUM
emaj-190	47	21	)	)	PUNCT
emaj-190	47	22	,	,	PUNCT
emaj-190	47	23	after	after	ADP
emaj-190	47	24	studying	study	VERB
emaj-190	47	25	various	various	ADJ
emaj-190	47	26	measures	measure	NOUN
emaj-190	47	27	,	,	PUNCT
emaj-190	47	28	suggest	suggest	VERB
emaj-190	47	29	that	that	PRON
emaj-190	47	30	size	size	NOUN
emaj-190	47	31	and	and	CCONJ
emaj-190	47	32	age	age	NOUN
emaj-190	47	33	are	be	AUX
emaj-190	47	34	strong	strong	ADJ
emaj-190	47	35	predictors	predictor	NOUN
emaj-190	47	36	of	of	ADP
emaj-190	47	37	financing	financing	NOUN
emaj-190	47	38	constraint	constraint	NOUN
emaj-190	47	39	.	.	PUNCT
emaj-190	48	1	gertler	gertler	NOUN
emaj-190	48	2	&	&	CCONJ
emaj-190	48	3	gilchrist	gilchrist	PROPN
emaj-190	48	4	(	(	PUNCT
emaj-190	48	5	1994	1994	NUM
emaj-190	48	6	)	)	PUNCT
emaj-190	48	7	use	use	VERB
emaj-190	48	8	size	size	NOUN
emaj-190	48	9	to	to	ADP
emaj-190	48	10	proxy	proxy	VERB
emaj-190	48	11	for	for	ADP
emaj-190	48	12	access	access	NOUN
emaj-190	48	13	to	to	ADP
emaj-190	48	14	external	external	ADJ
emaj-190	48	15	funding	funding	NOUN
emaj-190	48	16	.	.	PUNCT
emaj-190	49	1	findings	finding	NOUN
emaj-190	49	2	in	in	ADP
emaj-190	49	3	beck	beck	PROPN
emaj-190	49	4	et	et	PROPN
emaj-190	49	5	al	al	PROPN
emaj-190	49	6	.	.	PROPN
emaj-190	50	1	(	(	PUNCT
emaj-190	50	2	2005	2005	NUM
emaj-190	50	3	)	)	PUNCT
emaj-190	50	4	emphasize	emphasize	VERB
emaj-190	50	5	the	the	DET
emaj-190	50	6	importance	importance	NOUN
emaj-190	50	7	of	of	ADP
emaj-190	50	8	size	size	NOUN
emaj-190	50	9	and	and	CCONJ
emaj-190	50	10	demonstrate	demonstrate	VERB
emaj-190	50	11	how	how	SCONJ
emaj-190	50	12	small	small	ADJ
emaj-190	50	13	firms	firm	NOUN
emaj-190	50	14	are	be	AUX
emaj-190	50	15	the	the	DET
emaj-190	50	16	ones	one	NOUN
emaj-190	50	17	that	that	PRON
emaj-190	50	18	are	be	AUX
emaj-190	50	19	most	most	ADV
emaj-190	50	20	affected	affect	VERB
emaj-190	50	21	by	by	ADP
emaj-190	50	22	legal	legal	ADJ
emaj-190	50	23	and	and	CCONJ
emaj-190	50	24	financial	financial	ADJ
emaj-190	50	25	structure	structure	NOUN
emaj-190	50	26	.	.	PUNCT
emaj-190	51	1	bernanke	bernanke	PROPN
emaj-190	51	2	et	et	PROPN
emaj-190	51	3	al	al	PROPN
emaj-190	51	4	.	.	PROPN
emaj-190	51	5	(	(	PUNCT
emaj-190	51	6	1996	1996	NUM
emaj-190	51	7	)	)	PUNCT
emaj-190	51	8	argue	argue	VERB
emaj-190	51	9	that	that	SCONJ
emaj-190	51	10	small	small	ADJ
emaj-190	51	11	firms	firm	NOUN
emaj-190	51	12	have	have	VERB
emaj-190	51	13	to	to	PART
emaj-190	51	14	deal	deal	VERB
emaj-190	51	15	with	with	ADP
emaj-190	51	16	agency	agency	NOUN
emaj-190	51	17	cost	cost	NOUN
emaj-190	51	18	in	in	ADP
emaj-190	51	19	borrowing	borrowing	NOUN
emaj-190	51	20	relations	relation	NOUN
emaj-190	51	21	,	,	PUNCT
emaj-190	51	22	which	which	PRON
emaj-190	51	23	make	make	VERB
emaj-190	51	24	them	they	PRON
emaj-190	51	25	vulnerable	vulnerable	ADJ
emaj-190	51	26	to	to	ADP
emaj-190	51	27	the	the	DET
emaj-190	51	28	changes	change	NOUN
emaj-190	51	29	in	in	ADP
emaj-190	51	30	the	the	DET
emaj-190	51	31	state	state	NOUN
emaj-190	51	32	of	of	ADP
emaj-190	51	33	monetary	monetary	ADJ
emaj-190	51	34	policy	policy	NOUN
emaj-190	51	35	.	.	PUNCT
emaj-190	52	1	thus	thus	ADV
emaj-190	52	2	,	,	PUNCT
emaj-190	52	3	size	size	NOUN
emaj-190	52	4	can	can	AUX
emaj-190	52	5	be	be	AUX
emaj-190	52	6	a	a	DET
emaj-190	52	7	valid	valid	ADJ
emaj-190	52	8	proxy	proxy	NOUN
emaj-190	52	9	for	for	ADP
emaj-190	52	10	access	access	NOUN
emaj-190	52	11	to	to	ADP
emaj-190	52	12	external	external	ADJ
emaj-190	52	13	funding	funding	NOUN
emaj-190	52	14	.	.	PUNCT
emaj-190	53	1	volume	volume	NOUN
emaj-190	53	2	10	10	NUM
emaj-190	53	3	no	no	DET
emaj-190	53	4	1	1	NUM
emaj-190	53	5	(	(	PUNCT
emaj-190	53	6	2020	2020	NUM
emaj-190	53	7	)	)	PUNCT
emaj-190	53	8	|	|	ADV
emaj-190	53	9	issn	issn	VERB
emaj-190	53	10	2158	2158	NUM
emaj-190	53	11	-	-	SYM
emaj-190	53	12	8708	8708	NUM
emaj-190	53	13	(	(	PUNCT
emaj-190	53	14	online	online	NOUN
emaj-190	53	15	)	)	PUNCT
emaj-190	53	16	|	|	ADV
emaj-190	53	17	doi	doi	X
emaj-190	53	18	10.5195	10.5195	NUM
emaj-190	53	19	/	/	SYM
emaj-190	53	20	emaj.2020.190	emaj.2020.190	ADJ
emaj-190	53	21	|	|	NOUN
emaj-190	53	22	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	53	23	foreign	foreign	ADJ
emaj-190	53	24	capital	capital	NOUN
emaj-190	53	25	,	,	PUNCT
emaj-190	53	26	real	real	ADJ
emaj-190	53	27	sector	sector	NOUN
emaj-190	53	28	financing	financing	NOUN
emaj-190	53	29	and	and	CCONJ
emaj-190	53	30	excessive	excessive	ADJ
emaj-190	53	31	leverage	leverage	NOUN
emaj-190	53	32	in	in	ADP
emaj-190	53	33	turkey	turkey	NOUN
emaj-190	53	34	:	:	PUNCT
emaj-190	53	35	what	what	PRON
emaj-190	53	36	went	go	VERB
emaj-190	53	37	wrong	wrong	ADJ
emaj-190	53	38	?	?	PUNCT
emaj-190	54	1	page	page	NOUN
emaj-190	54	2	|32|	|32|	NOUN
emaj-190	54	3	emerging	emerge	VERB
emaj-190	54	4	markets	market	NOUN
emaj-190	54	5	journal	journal	NOUN
emaj-190	54	6	differently	differently	ADV
emaj-190	54	7	or	or	CCONJ
emaj-190	54	8	similarly	similarly	ADV
emaj-190	54	9	by	by	ADP
emaj-190	54	10	the	the	DET
emaj-190	54	11	recent	recent	ADJ
emaj-190	54	12	financial	financial	ADJ
emaj-190	54	13	conditions	condition	NOUN
emaj-190	54	14	.	.	PUNCT
emaj-190	55	1	the	the	DET
emaj-190	55	2	analysis	analysis	NOUN
emaj-190	55	3	produces	produce	VERB
emaj-190	55	4	convincing	convincing	ADJ
emaj-190	55	5	evidence	evidence	NOUN
emaj-190	55	6	that	that	SCONJ
emaj-190	55	7	both	both	DET
emaj-190	55	8	monetary	monetary	ADJ
emaj-190	55	9	policy	policy	NOUN
emaj-190	55	10	and	and	CCONJ
emaj-190	55	11	fc	fc	PROPN
emaj-190	55	12	facilitated	facilitate	VERB
emaj-190	55	13	borrowing	borrowing	NOUN
emaj-190	55	14	process	process	NOUN
emaj-190	55	15	contributed	contribute	VERB
emaj-190	55	16	to	to	ADP
emaj-190	55	17	excessive	excessive	ADJ
emaj-190	55	18	leverage	leverage	NOUN
emaj-190	55	19	.	.	PUNCT
emaj-190	56	1	smes	sme	NOUN
emaj-190	56	2	appear	appear	VERB
emaj-190	56	3	to	to	PART
emaj-190	56	4	be	be	AUX
emaj-190	56	5	highly	highly	ADV
emaj-190	56	6	sensitive	sensitive	ADJ
emaj-190	56	7	to	to	ADP
emaj-190	56	8	monetary	monetary	ADJ
emaj-190	56	9	policy	policy	NOUN
emaj-190	56	10	and	and	CCONJ
emaj-190	56	11	fc	fc	NOUN
emaj-190	56	12	inflow	inflow	NOUN
emaj-190	56	13	,	,	PUNCT
emaj-190	56	14	since	since	SCONJ
emaj-190	56	15	the	the	DET
emaj-190	56	16	marginal	marginal	ADJ
emaj-190	56	17	effects	effect	NOUN
emaj-190	56	18	of	of	ADP
emaj-190	56	19	both	both	DET
emaj-190	56	20	variables	variable	NOUN
emaj-190	56	21	are	be	AUX
emaj-190	56	22	relatively	relatively	ADV
emaj-190	56	23	greater	great	ADJ
emaj-190	56	24	.	.	PUNCT
emaj-190	57	1	considering	consider	VERB
emaj-190	57	2	that	that	SCONJ
emaj-190	57	3	previously	previously	ADV
emaj-190	57	4	these	these	DET
emaj-190	57	5	firms	firm	NOUN
emaj-190	57	6	were	be	AUX
emaj-190	57	7	likely	likely	ADJ
emaj-190	57	8	to	to	PART
emaj-190	57	9	be	be	AUX
emaj-190	57	10	credit	credit	NOUN
emaj-190	57	11	constraint	constraint	NOUN
emaj-190	57	12	,	,	PUNCT
emaj-190	57	13	they	they	PRON
emaj-190	57	14	seem	seem	VERB
emaj-190	57	15	to	to	PART
emaj-190	57	16	have	have	AUX
emaj-190	57	17	taken	take	VERB
emaj-190	57	18	advantage	advantage	NOUN
emaj-190	57	19	of	of	ADP
emaj-190	57	20	abundance	abundance	NOUN
emaj-190	57	21	of	of	ADP
emaj-190	57	22	liquidity	liquidity	NOUN
emaj-190	57	23	.	.	PUNCT
emaj-190	58	1	patterns	pattern	NOUN
emaj-190	58	2	in	in	ADP
emaj-190	58	3	aggregate	aggregate	ADJ
emaj-190	58	4	data	datum	NOUN
emaj-190	58	5	are	be	AUX
emaj-190	58	6	in	in	ADP
emaj-190	58	7	support	support	NOUN
emaj-190	58	8	of	of	ADP
emaj-190	58	9	this	this	DET
emaj-190	58	10	conclusion	conclusion	NOUN
emaj-190	58	11	,	,	PUNCT
emaj-190	58	12	which	which	PRON
emaj-190	58	13	is	be	AUX
emaj-190	58	14	also	also	ADV
emaj-190	58	15	consistent	consistent	ADJ
emaj-190	58	16	with	with	ADP
emaj-190	58	17	findings	finding	NOUN
emaj-190	58	18	in	in	ADP
emaj-190	58	19	similar	similar	ADJ
emaj-190	58	20	studies	study	NOUN
emaj-190	58	21	such	such	ADJ
emaj-190	58	22	as	as	ADP
emaj-190	58	23	bougheas	bougheas	PROPN
emaj-190	58	24	et	et	PROPN
emaj-190	58	25	al	al	PROPN
emaj-190	58	26	.	.	PROPN
emaj-190	58	27	(	(	PUNCT
emaj-190	58	28	2006	2006	NUM
emaj-190	58	29	)	)	PUNCT
emaj-190	58	30	;	;	PUNCT
emaj-190	58	31	korajczy	korajczy	PROPN
emaj-190	58	32	&	&	CCONJ
emaj-190	58	33	levy	levy	PROPN
emaj-190	58	34	(	(	PUNCT
emaj-190	58	35	2003	2003	NUM
emaj-190	58	36	)	)	PUNCT
emaj-190	58	37	.	.	PUNCT
emaj-190	59	1	they	they	PRON
emaj-190	59	2	find	find	VERB
emaj-190	59	3	that	that	SCONJ
emaj-190	59	4	,	,	PUNCT
emaj-190	59	5	bank	bank	NOUN
emaj-190	59	6	-	-	PUNCT
emaj-190	59	7	dependent	dependent	ADJ
emaj-190	59	8	small	small	ADJ
emaj-190	59	9	firms	firm	NOUN
emaj-190	59	10	tend	tend	VERB
emaj-190	59	11	to	to	PART
emaj-190	59	12	increase	increase	VERB
emaj-190	59	13	leverage	leverage	NOUN
emaj-190	59	14	in	in	ADP
emaj-190	59	15	favorable	favorable	ADJ
emaj-190	59	16	economic	economic	ADJ
emaj-190	59	17	conditions	condition	NOUN
emaj-190	59	18	.	.	PUNCT
emaj-190	60	1	leary	leary	PROPN
emaj-190	60	2	(	(	PUNCT
emaj-190	60	3	2009	2009	NUM
emaj-190	60	4	)	)	PUNCT
emaj-190	60	5	finds	find	VERB
emaj-190	60	6	similar	similar	ADJ
emaj-190	60	7	patterns	pattern	NOUN
emaj-190	60	8	among	among	ADP
emaj-190	60	9	small	small	ADJ
emaj-190	60	10	bank	bank	NOUN
emaj-190	60	11	-	-	PUNCT
emaj-190	60	12	dependent	dependent	ADJ
emaj-190	60	13	and	and	CCONJ
emaj-190	60	14	large	large	ADJ
emaj-190	60	15	,	,	PUNCT
emaj-190	60	16	less	less	ADJ
emaj-190	60	17	bank	bank	NOUN
emaj-190	60	18	-	-	PUNCT
emaj-190	60	19	dependent	dependent	ADJ
emaj-190	60	20	firms	firm	NOUN
emaj-190	60	21	.	.	PUNCT
emaj-190	61	1	he	he	PRON
emaj-190	61	2	argues	argue	VERB
emaj-190	61	3	that	that	SCONJ
emaj-190	61	4	those	those	DET
emaj-190	61	5	bank	bank	NOUN
emaj-190	61	6	dependent	dependent	ADJ
emaj-190	61	7	small	small	ADJ
emaj-190	61	8	firms	firm	NOUN
emaj-190	61	9	’	'	PUNCT
emaj-190	61	10	leverage	leverage	NOUN
emaj-190	61	11	rise	rise	VERB
emaj-190	61	12	with	with	ADP
emaj-190	61	13	the	the	DET
emaj-190	61	14	credit	credit	NOUN
emaj-190	61	15	supply	supply	NOUN
emaj-190	61	16	and	and	CCONJ
emaj-190	61	17	decline	decline	VERB
emaj-190	61	18	with	with	ADP
emaj-190	61	19	contraction	contraction	NOUN
emaj-190	61	20	,	,	PUNCT
emaj-190	61	21	whereas	whereas	SCONJ
emaj-190	61	22	less	less	ADJ
emaj-190	61	23	bankdependent	bankdependent	ADJ
emaj-190	61	24	large	large	ADJ
emaj-190	61	25	firms	firm	NOUN
emaj-190	61	26	may	may	AUX
emaj-190	61	27	have	have	VERB
emaj-190	61	28	substitute	substitute	NOUN
emaj-190	61	29	funding	funding	NOUN
emaj-190	61	30	sources	source	NOUN
emaj-190	61	31	on	on	ADP
emaj-190	61	32	which	which	PRON
emaj-190	61	33	they	they	PRON
emaj-190	61	34	can	can	AUX
emaj-190	61	35	rely	rely	VERB
emaj-190	61	36	on	on	ADP
emaj-190	61	37	in	in	ADP
emaj-190	61	38	contractionary	contractionary	ADJ
emaj-190	61	39	times	time	NOUN
emaj-190	61	40	,	,	PUNCT
emaj-190	61	41	thus	thus	ADV
emaj-190	61	42	they	they	PRON
emaj-190	61	43	maintain	maintain	VERB
emaj-190	61	44	a	a	DET
emaj-190	61	45	relatively	relatively	ADV
emaj-190	61	46	more	more	ADV
emaj-190	61	47	stable	stable	ADJ
emaj-190	61	48	capital	capital	NOUN
emaj-190	61	49	structure	structure	NOUN
emaj-190	61	50	.	.	PUNCT
emaj-190	62	1	financial	financial	ADJ
emaj-190	62	2	constraints	constraint	NOUN
emaj-190	62	3	,	,	PUNCT
emaj-190	62	4	to	to	ADP
emaj-190	62	5	a	a	DET
emaj-190	62	6	considerable	considerable	ADJ
emaj-190	62	7	degree	degree	NOUN
emaj-190	62	8	,	,	PUNCT
emaj-190	62	9	become	become	VERB
emaj-190	62	10	irrelevant	irrelevant	ADJ
emaj-190	62	11	during	during	ADP
emaj-190	62	12	expansionary	expansionary	ADJ
emaj-190	62	13	times	time	NOUN
emaj-190	62	14	and	and	CCONJ
emaj-190	62	15	seem	seem	VERB
emaj-190	62	16	to	to	PART
emaj-190	62	17	matter	matter	VERB
emaj-190	62	18	particularly	particularly	ADV
emaj-190	62	19	in	in	ADP
emaj-190	62	20	contractionary	contractionary	ADJ
emaj-190	62	21	state	state	NOUN
emaj-190	62	22	of	of	ADP
emaj-190	62	23	the	the	DET
emaj-190	62	24	economy	economy	NOUN
emaj-190	62	25	,	,	PUNCT
emaj-190	62	26	forcing	force	VERB
emaj-190	62	27	smes	sme	NOUN
emaj-190	62	28	to	to	PART
emaj-190	62	29	maintain	maintain	VERB
emaj-190	62	30	capital	capital	NOUN
emaj-190	62	31	structure	structure	NOUN
emaj-190	62	32	highly	highly	ADV
emaj-190	62	33	sensitive	sensitive	ADJ
emaj-190	62	34	to	to	ADP
emaj-190	62	35	monetary	monetary	ADJ
emaj-190	62	36	conditions	condition	NOUN
emaj-190	62	37	.	.	PUNCT
emaj-190	63	1	such	such	ADJ
emaj-190	63	2	sensitivity	sensitivity	NOUN
emaj-190	63	3	fits	fit	VERB
emaj-190	63	4	the	the	DET
emaj-190	63	5	description	description	NOUN
emaj-190	63	6	provided	provide	VERB
emaj-190	63	7	in	in	ADP
emaj-190	63	8	“	"	PUNCT
emaj-190	63	9	flight	flight	NOUN
emaj-190	63	10	to	to	ADP
emaj-190	63	11	quality	quality	NOUN
emaj-190	63	12	”	"	PUNCT
emaj-190	63	13	of	of	ADP
emaj-190	63	14	bernanke	bernanke	PROPN
emaj-190	63	15	et	et	PROPN
emaj-190	63	16	al	al	PROPN
emaj-190	63	17	.	.	PROPN
emaj-190	64	1	(	(	PUNCT
emaj-190	64	2	1996	1996	NUM
emaj-190	64	3	)	)	PUNCT
emaj-190	64	4	,	,	PUNCT
emaj-190	64	5	which	which	PRON
emaj-190	64	6	argues	argue	VERB
emaj-190	64	7	that	that	SCONJ
emaj-190	64	8	small	small	ADJ
emaj-190	64	9	firms	firm	NOUN
emaj-190	64	10	that	that	PRON
emaj-190	64	11	suffer	suffer	VERB
emaj-190	64	12	from	from	ADP
emaj-190	64	13	agency	agency	NOUN
emaj-190	64	14	cost	cost	NOUN
emaj-190	64	15	in	in	ADP
emaj-190	64	16	a	a	DET
emaj-190	64	17	borrowing	borrowing	NOUN
emaj-190	64	18	relationship	relationship	NOUN
emaj-190	64	19	should	should	AUX
emaj-190	64	20	reduce	reduce	VERB
emaj-190	64	21	(	(	PUNCT
emaj-190	64	22	increase	increase	VERB
emaj-190	64	23	)	)	PUNCT
emaj-190	64	24	the	the	DET
emaj-190	64	25	economic	economic	ADJ
emaj-190	64	26	activity	activity	NOUN
emaj-190	64	27	in	in	ADP
emaj-190	64	28	contractionary	contractionary	ADJ
emaj-190	64	29	(	(	PUNCT
emaj-190	64	30	expansionary	expansionary	ADJ
emaj-190	64	31	)	)	PUNCT
emaj-190	64	32	times	time	NOUN
emaj-190	64	33	.	.	PUNCT
emaj-190	65	1	however	however	ADV
emaj-190	65	2	,	,	PUNCT
emaj-190	65	3	their	their	PRON
emaj-190	65	4	theory	theory	NOUN
emaj-190	65	5	is	be	AUX
emaj-190	65	6	silent	silent	ADJ
emaj-190	65	7	as	as	ADP
emaj-190	65	8	to	to	ADP
emaj-190	65	9	why	why	SCONJ
emaj-190	65	10	small	small	ADJ
emaj-190	65	11	firms	firm	NOUN
emaj-190	65	12	may	may	AUX
emaj-190	65	13	engage	engage	VERB
emaj-190	65	14	in	in	ADP
emaj-190	65	15	excessive	excessive	ADJ
emaj-190	65	16	borrowing	borrowing	NOUN
emaj-190	65	17	in	in	ADP
emaj-190	65	18	times	time	NOUN
emaj-190	65	19	of	of	ADP
emaj-190	65	20	high	high	ADJ
emaj-190	65	21	credit	credit	NOUN
emaj-190	65	22	supply	supply	NOUN
emaj-190	65	23	.	.	PUNCT
emaj-190	66	1	one	one	NUM
emaj-190	66	2	likely	likely	ADJ
emaj-190	66	3	explanation	explanation	NOUN
emaj-190	66	4	is	be	AUX
emaj-190	66	5	that	that	SCONJ
emaj-190	66	6	,	,	PUNCT
emaj-190	66	7	they	they	PRON
emaj-190	66	8	had	have	AUX
emaj-190	66	9	suffered	suffer	VERB
emaj-190	66	10	from	from	ADP
emaj-190	66	11	the	the	DET
emaj-190	66	12	lack	lack	NOUN
emaj-190	66	13	of	of	ADP
emaj-190	66	14	external	external	ADJ
emaj-190	66	15	borrowing	borrowing	NOUN
emaj-190	66	16	during	during	ADP
emaj-190	66	17	early	early	ADJ
emaj-190	66	18	2000s	2000s	NUM
emaj-190	66	19	and	and	CCONJ
emaj-190	66	20	had	have	VERB
emaj-190	66	21	to	to	PART
emaj-190	66	22	put	put	VERB
emaj-190	66	23	on	on	ADP
emaj-190	66	24	hold	hold	VERB
emaj-190	66	25	viable	viable	ADJ
emaj-190	66	26	investment	investment	NOUN
emaj-190	66	27	opportunities	opportunity	NOUN
emaj-190	66	28	till	till	SCONJ
emaj-190	66	29	external	external	ADJ
emaj-190	66	30	funding	funding	NOUN
emaj-190	66	31	is	be	AUX
emaj-190	66	32	available	available	ADJ
emaj-190	66	33	again	again	ADV
emaj-190	66	34	.	.	PUNCT
emaj-190	67	1	now	now	ADV
emaj-190	67	2	that	that	SCONJ
emaj-190	67	3	the	the	DET
emaj-190	67	4	credit	credit	NOUN
emaj-190	67	5	conditions	condition	NOUN
emaj-190	67	6	are	be	AUX
emaj-190	67	7	admissible	admissible	ADJ
emaj-190	67	8	,	,	PUNCT
emaj-190	67	9	they	they	PRON
emaj-190	67	10	take	take	VERB
emaj-190	67	11	advantage	advantage	NOUN
emaj-190	67	12	of	of	ADP
emaj-190	67	13	the	the	DET
emaj-190	67	14	situation	situation	NOUN
emaj-190	67	15	while	while	SCONJ
emaj-190	67	16	window	window	NOUN
emaj-190	67	17	of	of	ADP
emaj-190	67	18	opportunity	opportunity	NOUN
emaj-190	67	19	still	still	ADV
emaj-190	67	20	permits	permit	VERB
emaj-190	67	21	.	.	PUNCT
emaj-190	68	1	on	on	ADP
emaj-190	68	2	the	the	DET
emaj-190	68	3	other	other	ADJ
emaj-190	68	4	hand	hand	NOUN
emaj-190	68	5	,	,	PUNCT
emaj-190	68	6	publicly	publicly	ADV
emaj-190	68	7	traded	trade	VERB
emaj-190	68	8	and	and	CCONJ
emaj-190	68	9	large	large	ADJ
emaj-190	68	10	private	private	ADJ
emaj-190	68	11	firms	firm	NOUN
emaj-190	68	12	display	display	VERB
emaj-190	68	13	little	little	ADJ
emaj-190	68	14	sensitivity	sensitivity	NOUN
emaj-190	68	15	;	;	PUNCT
emaj-190	68	16	only	only	ADV
emaj-190	68	17	the	the	DET
emaj-190	68	18	coefficient	coefficient	NOUN
emaj-190	68	19	for	for	ADP
emaj-190	68	20	lagged	lag	VERB
emaj-190	68	21	fc	fc	PROPN
emaj-190	68	22	indicates	indicate	VERB
emaj-190	68	23	positive	positive	ADJ
emaj-190	68	24	influence	influence	NOUN
emaj-190	68	25	on	on	ADP
emaj-190	68	26	their	their	PRON
emaj-190	68	27	leverage	leverage	NOUN
emaj-190	68	28	decision	decision	NOUN
emaj-190	68	29	while	while	SCONJ
emaj-190	68	30	monetary	monetary	ADJ
emaj-190	68	31	policy	policy	NOUN
emaj-190	68	32	has	have	VERB
emaj-190	68	33	no	no	DET
emaj-190	68	34	statistically	statistically	ADV
emaj-190	68	35	significant	significant	ADJ
emaj-190	68	36	effect	effect	NOUN
emaj-190	68	37	.	.	PUNCT
emaj-190	69	1	the	the	DET
emaj-190	69	2	results	result	NOUN
emaj-190	69	3	may	may	AUX
emaj-190	69	4	be	be	AUX
emaj-190	69	5	summarized	summarize	VERB
emaj-190	69	6	as	as	ADP
emaj-190	69	7	following	follow	VERB
emaj-190	69	8	:	:	PUNCT
emaj-190	69	9	both	both	DET
emaj-190	69	10	monetary	monetary	ADJ
emaj-190	69	11	policy	policy	NOUN
emaj-190	69	12	and	and	CCONJ
emaj-190	69	13	fc	fc	PROPN
emaj-190	69	14	variables	variable	NOUN
emaj-190	69	15	positively	positively	ADV
emaj-190	69	16	affected	affect	VERB
emaj-190	69	17	borrowing	borrowing	NOUN
emaj-190	69	18	decision	decision	NOUN
emaj-190	69	19	of	of	ADP
emaj-190	69	20	smes	sme	NOUN
emaj-190	69	21	and	and	CCONJ
emaj-190	69	22	ultimately	ultimately	ADV
emaj-190	69	23	led	lead	VERB
emaj-190	69	24	to	to	ADP
emaj-190	69	25	excessive	excessive	ADJ
emaj-190	69	26	leverage	leverage	NOUN
emaj-190	69	27	,	,	PUNCT
emaj-190	69	28	resulting	result	VERB
emaj-190	69	29	in	in	ADP
emaj-190	69	30	hundreds	hundred	NOUN
emaj-190	69	31	of	of	ADP
emaj-190	69	32	firms	firm	NOUN
emaj-190	69	33	going	go	VERB
emaj-190	69	34	to	to	ADP
emaj-190	69	35	the	the	DET
emaj-190	69	36	court	court	NOUN
emaj-190	69	37	for	for	ADP
emaj-190	69	38	either	either	DET
emaj-190	69	39	concordat	concordat	NOUN
emaj-190	69	40	,	,	PUNCT
emaj-190	69	41	or	or	CCONJ
emaj-190	69	42	to	to	PART
emaj-190	69	43	restructure	restructure	VERB
emaj-190	69	44	and/or	and/or	CCONJ
emaj-190	69	45	postpone	postpone	VERB
emaj-190	69	46	overdue	overdue	ADJ
emaj-190	69	47	debt	debt	NOUN
emaj-190	69	48	payments2	payments2	NOUN
emaj-190	69	49	.	.	PUNCT
emaj-190	70	1	on	on	ADP
emaj-190	70	2	the	the	DET
emaj-190	70	3	other	other	ADJ
emaj-190	70	4	hand	hand	NOUN
emaj-190	70	5	,	,	PUNCT
emaj-190	70	6	the	the	DET
emaj-190	70	7	relation	relation	NOUN
emaj-190	70	8	between	between	ADP
emaj-190	70	9	monetary	monetary	ADJ
emaj-190	70	10	conditions	condition	NOUN
emaj-190	70	11	and	and	CCONJ
emaj-190	70	12	the	the	DET
emaj-190	70	13	leverage	leverage	NOUN
emaj-190	70	14	decision	decision	NOUN
emaj-190	70	15	of	of	ADP
emaj-190	70	16	financially	financially	ADV
emaj-190	70	17	strong	strong	ADJ
emaj-190	70	18	firms	firm	NOUN
emaj-190	70	19	,	,	PUNCT
emaj-190	70	20	i.e.	i.e.	X
emaj-190	70	21	,	,	PUNCT
emaj-190	70	22	publicly	publicly	ADV
emaj-190	70	23	traded	trade	VERB
emaj-190	70	24	and	and	CCONJ
emaj-190	70	25	large	large	ADJ
emaj-190	70	26	private	private	ADJ
emaj-190	70	27	firms	firm	NOUN
emaj-190	70	28	is	be	AUX
emaj-190	70	29	relatively	relatively	ADV
emaj-190	70	30	weak	weak	ADJ
emaj-190	70	31	,	,	PUNCT
emaj-190	70	32	possibly	possibly	ADV
emaj-190	70	33	due	due	ADP
emaj-190	70	34	to	to	ADP
emaj-190	70	35	availability	availability	NOUN
emaj-190	70	36	of	of	ADP
emaj-190	70	37	alternatives	alternative	NOUN
emaj-190	70	38	as	as	SCONJ
emaj-190	70	39	suggested	suggest	VERB
emaj-190	70	40	in	in	ADP
emaj-190	70	41	leary	leary	PROPN
emaj-190	70	42	(	(	PUNCT
emaj-190	70	43	2009	2009	NUM
emaj-190	70	44	)	)	PUNCT
emaj-190	70	45	2	2	NUM
emaj-190	70	46	in	in	ADP
emaj-190	70	47	late	late	ADJ
emaj-190	70	48	2018	2018	NUM
emaj-190	70	49	,	,	PUNCT
emaj-190	70	50	the	the	DET
emaj-190	70	51	value	value	NOUN
emaj-190	70	52	of	of	ADP
emaj-190	70	53	dollar	dollar	NOUN
emaj-190	70	54	hit	hit	VERB
emaj-190	70	55	all	all	DET
emaj-190	70	56	-	-	PUNCT
emaj-190	70	57	time	time	NOUN
emaj-190	70	58	high	high	ADJ
emaj-190	70	59	against	against	ADP
emaj-190	70	60	turkish	turkish	ADJ
emaj-190	70	61	lira	lira	NOUN
emaj-190	70	62	and	and	CCONJ
emaj-190	70	63	979	979	NUM
emaj-190	70	64	firms	firm	NOUN
emaj-190	70	65	went	go	VERB
emaj-190	70	66	to	to	ADP
emaj-190	70	67	court	court	NOUN
emaj-190	70	68	for	for	ADP
emaj-190	70	69	concordat	concordat	PROPN
emaj-190	70	70	as	as	SCONJ
emaj-190	70	71	announced	announce	VERB
emaj-190	70	72	by	by	ADP
emaj-190	70	73	trade	trade	NOUN
emaj-190	70	74	minister	minister	NOUN
emaj-190	70	75	ruhsar	ruhsar	PROPN
emaj-190	70	76	pekcan	pekcan	NOUN
emaj-190	70	77	on	on	ADP
emaj-190	70	78	december	december	PROPN
emaj-190	70	79	27	27	NUM
emaj-190	70	80	,	,	PUNCT
emaj-190	70	81	2018	2018	NUM
emaj-190	70	82	.	.	PUNCT
emaj-190	71	1	in	in	ADP
emaj-190	71	2	2019	2019	NUM
emaj-190	71	3	,	,	PUNCT
emaj-190	71	4	the	the	DET
emaj-190	71	5	banks	banks	PROPN
emaj-190	71	6	association	association	PROPN
emaj-190	71	7	of	of	ADP
emaj-190	71	8	turkey	turkey	PROPN
emaj-190	71	9	announced	announce	VERB
emaj-190	71	10	a	a	DET
emaj-190	71	11	restructuring	restructure	VERB
emaj-190	71	12	program	program	NOUN
emaj-190	71	13	in	in	ADP
emaj-190	71	14	order	order	NOUN
emaj-190	71	15	to	to	PART
emaj-190	71	16	provide	provide	VERB
emaj-190	71	17	assistance	assistance	NOUN
emaj-190	71	18	to	to	ADP
emaj-190	71	19	troubled	troubled	ADJ
emaj-190	71	20	firms	firm	NOUN
emaj-190	71	21	and	and	CCONJ
emaj-190	71	22	their	their	PRON
emaj-190	71	23	lenders	lender	NOUN
emaj-190	71	24	.	.	PUNCT
emaj-190	72	1	such	such	ADJ
emaj-190	72	2	as	as	ADP
emaj-190	72	3	stable	stable	ADJ
emaj-190	72	4	access	access	NOUN
emaj-190	72	5	to	to	ADP
emaj-190	72	6	external	external	ADJ
emaj-190	72	7	funding	funding	NOUN
emaj-190	72	8	and	and	CCONJ
emaj-190	72	9	internal	internal	ADJ
emaj-190	72	10	revenue	revenue	NOUN
emaj-190	72	11	stream	stream	NOUN
emaj-190	72	12	.	.	PUNCT
emaj-190	73	1	in	in	ADP
emaj-190	73	2	the	the	DET
emaj-190	73	3	next	next	ADJ
emaj-190	73	4	section	section	NOUN
emaj-190	73	5	,	,	PUNCT
emaj-190	73	6	to	to	PART
emaj-190	73	7	further	far	ADV
emaj-190	73	8	motivate	motivate	VERB
emaj-190	73	9	the	the	DET
emaj-190	73	10	goal	goal	NOUN
emaj-190	73	11	of	of	ADP
emaj-190	73	12	the	the	DET
emaj-190	73	13	study	study	NOUN
emaj-190	73	14	,	,	PUNCT
emaj-190	73	15	the	the	DET
emaj-190	73	16	recent	recent	ADJ
emaj-190	73	17	trends	trend	NOUN
emaj-190	73	18	in	in	ADP
emaj-190	73	19	corporate	corporate	ADJ
emaj-190	73	20	borrowing	borrowing	NOUN
emaj-190	73	21	are	be	AUX
emaj-190	73	22	discussed	discuss	VERB
emaj-190	73	23	,	,	PUNCT
emaj-190	73	24	in	in	ADP
emaj-190	73	25	section	section	NOUN
emaj-190	73	26	iii	iii	PROPN
emaj-190	73	27	,	,	PUNCT
emaj-190	73	28	monetary	monetary	ADJ
emaj-190	73	29	policy	policy	NOUN
emaj-190	73	30	measures	measure	NOUN
emaj-190	73	31	in	in	ADP
emaj-190	73	32	times	time	NOUN
emaj-190	73	33	of	of	ADP
emaj-190	73	34	high	high	ADJ
emaj-190	73	35	fc	fc	PROPN
emaj-190	73	36	inflow	inflow	NOUN
emaj-190	73	37	are	be	AUX
emaj-190	73	38	examined	examine	VERB
emaj-190	73	39	.	.	PUNCT
emaj-190	74	1	in	in	ADP
emaj-190	74	2	section	section	NOUN
emaj-190	74	3	iv	iv	NUM
emaj-190	74	4	,	,	PUNCT
emaj-190	74	5	data	datum	NOUN
emaj-190	74	6	and	and	CCONJ
emaj-190	74	7	methodology	methodology	NOUN
emaj-190	74	8	is	be	AUX
emaj-190	74	9	discussed	discuss	VERB
emaj-190	74	10	.	.	PUNCT
emaj-190	75	1	in	in	ADP
emaj-190	75	2	section	section	NOUN
emaj-190	75	3	v	v	NOUN
emaj-190	75	4	,	,	PUNCT
emaj-190	75	5	a	a	DET
emaj-190	75	6	brief	brief	ADJ
emaj-190	75	7	conclusion	conclusion	NOUN
emaj-190	75	8	is	be	AUX
emaj-190	75	9	presented	present	VERB
emaj-190	75	10	.	.	PUNCT
emaj-190	76	1	ii	ii	X
emaj-190	76	2	.	.	PUNCT
emaj-190	77	1	recent	recent	ADJ
emaj-190	77	2	trends	trend	NOUN
emaj-190	77	3	in	in	ADP
emaj-190	77	4	corporate	corporate	ADJ
emaj-190	77	5	leverage	leverage	NOUN
emaj-190	77	6	in	in	ADP
emaj-190	77	7	turkey	turkey	NOUN
emaj-190	77	8	figure	figure	NOUN
emaj-190	77	9	1	1	NUM
emaj-190	77	10	presents	present	VERB
emaj-190	77	11	the	the	DET
emaj-190	77	12	debt	debt	NOUN
emaj-190	77	13	stock	stock	NOUN
emaj-190	77	14	of	of	ADP
emaj-190	77	15	nonfinancial	nonfinancial	ADJ
emaj-190	77	16	sector	sector	NOUN
emaj-190	77	17	in	in	ADP
emaj-190	77	18	turkey	turkey	NOUN
emaj-190	77	19	,	,	PUNCT
emaj-190	77	20	in	in	ADP
emaj-190	77	21	comparison	comparison	NOUN
emaj-190	77	22	to	to	ADP
emaj-190	77	23	the	the	DET
emaj-190	77	24	average	average	NOUN
emaj-190	77	25	of	of	ADP
emaj-190	77	26	other	other	ADJ
emaj-190	77	27	emerging	emerge	VERB
emaj-190	77	28	economies3	economies3	PROPN
emaj-190	77	29	.	.	PUNCT
emaj-190	78	1	starting	start	VERB
emaj-190	78	2	from	from	ADP
emaj-190	78	3	early	early	ADJ
emaj-190	78	4	2000s	2000s	NUM
emaj-190	78	5	,	,	PUNCT
emaj-190	78	6	debt	debt	NOUN
emaj-190	78	7	to	to	ADP
emaj-190	78	8	gdp	gdp	NOUN
emaj-190	78	9	ratio	ratio	NOUN
emaj-190	78	10	has	have	AUX
emaj-190	78	11	been	be	AUX
emaj-190	78	12	growing	grow	VERB
emaj-190	78	13	almost	almost	ADV
emaj-190	78	14	non	non	ADJ
emaj-190	78	15	-	-	ADJ
emaj-190	78	16	stop	stop	VERB
emaj-190	78	17	.	.	PUNCT
emaj-190	79	1	it	it	PRON
emaj-190	79	2	goes	go	VERB
emaj-190	79	3	up	up	ADP
emaj-190	79	4	to	to	PART
emaj-190	79	5	67	67	NUM
emaj-190	79	6	percent	percent	NOUN
emaj-190	79	7	of	of	ADP
emaj-190	79	8	gdp	gdp	NOUN
emaj-190	79	9	in	in	ADP
emaj-190	79	10	2016	2016	NUM
emaj-190	79	11	from	from	ADP
emaj-190	79	12	30	30	NUM
emaj-190	79	13	percent	percent	NOUN
emaj-190	79	14	in	in	ADP
emaj-190	79	15	2007	2007	NUM
emaj-190	79	16	,	,	PUNCT
emaj-190	79	17	a	a	DET
emaj-190	79	18	year	year	NOUN
emaj-190	79	19	before	before	ADP
emaj-190	79	20	the	the	DET
emaj-190	79	21	mortgage	mortgage	NOUN
emaj-190	79	22	crisis	crisis	NOUN
emaj-190	79	23	.	.	PUNCT
emaj-190	80	1	figure	figure	NOUN
emaj-190	80	2	1	1	NUM
emaj-190	80	3	.	.	PUNCT
emaj-190	80	4	real	real	ADJ
emaj-190	80	5	sector	sector	NOUN
emaj-190	80	6	’s	’s	PART
emaj-190	80	7	debt	debt	NOUN
emaj-190	80	8	as	as	ADP
emaj-190	80	9	a	a	DET
emaj-190	80	10	percent	percent	NOUN
emaj-190	80	11	of	of	ADP
emaj-190	80	12	gdp	gdp	NOUN
emaj-190	80	13	in	in	ADP
emaj-190	80	14	comparison	comparison	NOUN
emaj-190	80	15	with	with	ADP
emaj-190	80	16	other	other	ADJ
emaj-190	80	17	ems	ems	PROPN
emaj-190	80	18	data	data	PROPN
emaj-190	80	19	source	source	NOUN
emaj-190	80	20	:	:	PUNCT
emaj-190	80	21	imf	imf	PROPN
emaj-190	80	22	international	international	PROPN
emaj-190	80	23	statistics	statistic	NOUN
emaj-190	80	24	,	,	PUNCT
emaj-190	80	25	2018	2018	NUM
emaj-190	80	26	figure	figure	VERB
emaj-190	80	27	2	2	NUM
emaj-190	80	28	presents	present	NOUN
emaj-190	80	29	average	average	ADJ
emaj-190	80	30	financial	financial	ADJ
emaj-190	80	31	debt	debt	NOUN
emaj-190	80	32	(	(	PUNCT
emaj-190	80	33	bank	bank	NOUN
emaj-190	80	34	loans	loan	NOUN
emaj-190	80	35	and	and	CCONJ
emaj-190	80	36	debt	debt	NOUN
emaj-190	80	37	securities	security	NOUN
emaj-190	80	38	)	)	PUNCT
emaj-190	80	39	to	to	ADP
emaj-190	80	40	assets	asset	NOUN
emaj-190	80	41	ratios	ratio	NOUN
emaj-190	80	42	of	of	ADP
emaj-190	80	43	27.872	27.872	NUM
emaj-190	80	44	firms	firm	NOUN
emaj-190	80	45	,	,	PUNCT
emaj-190	80	46	between	between	ADP
emaj-190	80	47	1996	1996	NUM
emaj-190	80	48	and	and	CCONJ
emaj-190	80	49	2016	2016	NUM
emaj-190	80	50	.	.	PUNCT
emaj-190	81	1	general	general	ADJ
emaj-190	81	2	trend	trend	NOUN
emaj-190	81	3	suggests	suggest	VERB
emaj-190	81	4	that	that	SCONJ
emaj-190	81	5	macroeconomic	macroeconomic	ADJ
emaj-190	81	6	shocks	shock	NOUN
emaj-190	81	7	do	do	AUX
emaj-190	81	8	affect	affect	VERB
emaj-190	81	9	smes	sme	NOUN
emaj-190	81	10	more	more	ADV
emaj-190	81	11	significantly	significantly	ADV
emaj-190	81	12	than	than	ADP
emaj-190	81	13	the	the	DET
emaj-190	81	14	large	large	ADJ
emaj-190	81	15	firms	firm	NOUN
emaj-190	81	16	and	and	CCONJ
emaj-190	81	17	they	they	PRON
emaj-190	81	18	do	do	AUX
emaj-190	81	19	maintain	maintain	VERB
emaj-190	81	20	higher	high	ADJ
emaj-190	81	21	leverage	leverage	NOUN
emaj-190	81	22	,	,	PUNCT
emaj-190	81	23	as	as	SCONJ
emaj-190	81	24	suggested	suggest	VERB
emaj-190	81	25	in	in	ADP
emaj-190	81	26	the	the	DET
emaj-190	81	27	literature4	literature4	PROPN
emaj-190	81	28	.	.	PUNCT
emaj-190	82	1	their	their	PRON
emaj-190	82	2	debt	debt	NOUN
emaj-190	82	3	ratios	ratio	NOUN
emaj-190	82	4	declined	decline	VERB
emaj-190	82	5	from	from	ADP
emaj-190	82	6	42	42	NUM
emaj-190	82	7	percent	percent	NOUN
emaj-190	82	8	of	of	ADP
emaj-190	82	9	total	total	ADJ
emaj-190	82	10	assets	asset	NOUN
emaj-190	82	11	in	in	ADP
emaj-190	82	12	1997	1997	NUM
emaj-190	82	13	to	to	ADP
emaj-190	82	14	18	18	NUM
emaj-190	82	15	percent	percent	NOUN
emaj-190	82	16	at	at	ADP
emaj-190	82	17	end	end	NOUN
emaj-190	82	18	of	of	ADP
emaj-190	82	19	2001	2001	NUM
emaj-190	82	20	,	,	PUNCT
emaj-190	82	21	and	and	CCONJ
emaj-190	82	22	rose	rise	VERB
emaj-190	82	23	back	back	ADV
emaj-190	82	24	up	up	ADV
emaj-190	82	25	to	to	PART
emaj-190	82	26	42	42	NUM
emaj-190	82	27	percent	percent	NOUN
emaj-190	82	28	in	in	ADP
emaj-190	82	29	2014	2014	NUM
emaj-190	82	30	,	,	PUNCT
emaj-190	82	31	indicating	indicate	VERB
emaj-190	82	32	more	more	ADJ
emaj-190	82	33	than	than	ADP
emaj-190	82	34	130	130	NUM
emaj-190	82	35	percent	percent	NOUN
emaj-190	82	36	increase	increase	NOUN
emaj-190	82	37	in	in	ADP
emaj-190	82	38	percentage	percentage	NOUN
emaj-190	82	39	wise	wise	ADJ
emaj-190	82	40	.	.	PUNCT
emaj-190	83	1	once	once	ADV
emaj-190	83	2	the	the	DET
emaj-190	83	3	turkish	turkish	ADJ
emaj-190	83	4	economy	economy	NOUN
emaj-190	83	5	has	have	AUX
emaj-190	83	6	left	leave	VERB
emaj-190	83	7	the	the	DET
emaj-190	83	8	bad	bad	ADJ
emaj-190	83	9	memories	memory	NOUN
emaj-190	83	10	of	of	ADP
emaj-190	83	11	early	early	ADJ
emaj-190	83	12	2000s	2000	NOUN
emaj-190	83	13	behind	behind	ADP
emaj-190	83	14	,	,	PUNCT
emaj-190	83	15	smes	sme	NOUN
emaj-190	83	16	seemed	seem	VERB
emaj-190	83	17	to	to	PART
emaj-190	83	18	have	have	AUX
emaj-190	83	19	been	be	AUX
emaj-190	83	20	inclined	incline	VERB
emaj-190	83	21	to	to	PART
emaj-190	83	22	take	take	VERB
emaj-190	83	23	advantage	advantage	NOUN
emaj-190	83	24	of	of	ADP
emaj-190	83	25	favorable	favorable	ADJ
emaj-190	83	26	financial	financial	ADJ
emaj-190	83	27	conditions	condition	NOUN
emaj-190	83	28	in	in	ADP
emaj-190	83	29	the	the	DET
emaj-190	83	30	second	second	ADJ
emaj-190	83	31	half	half	NOUN
emaj-190	83	32	of	of	ADP
emaj-190	83	33	the	the	DET
emaj-190	83	34	last	last	ADJ
emaj-190	83	35	decade	decade	NOUN
emaj-190	83	36	.	.	PUNCT
emaj-190	84	1	while	while	SCONJ
emaj-190	84	2	medium	medium	ADJ
emaj-190	84	3	sized	sized	ADJ
emaj-190	84	4	firms	firm	NOUN
emaj-190	84	5	demonstrate	demonstrate	VERB
emaj-190	84	6	a	a	DET
emaj-190	84	7	similar	similar	ADJ
emaj-190	84	8	but	but	CCONJ
emaj-190	84	9	relatively	relatively	ADV
emaj-190	84	10	softer	soft	ADJ
emaj-190	84	11	pattern	pattern	NOUN
emaj-190	84	12	,	,	PUNCT
emaj-190	84	13	debt	debt	NOUN
emaj-190	84	14	ratios	ratio	NOUN
emaj-190	84	15	of	of	ADP
emaj-190	84	16	large	large	ADJ
emaj-190	84	17	private	private	ADJ
emaj-190	84	18	and	and	CCONJ
emaj-190	84	19	public	public	ADJ
emaj-190	84	20	firms	firm	NOUN
emaj-190	84	21	fluctuate	fluctuate	VERB
emaj-190	84	22	considerably	considerably	ADV
emaj-190	84	23	less	less	ADJ
emaj-190	84	24	.	.	PUNCT
emaj-190	85	1	3south	3south	NUM
emaj-190	85	2	africa	africa	PROPN
emaj-190	85	3	,	,	PUNCT
emaj-190	85	4	mexico	mexico	PROPN
emaj-190	85	5	,	,	PUNCT
emaj-190	85	6	peru	peru	PROPN
emaj-190	85	7	,	,	PUNCT
emaj-190	85	8	romania	romania	PROPN
emaj-190	85	9	,	,	PUNCT
emaj-190	85	10	pakistan	pakistan	PROPN
emaj-190	85	11	,	,	PUNCT
emaj-190	85	12	argentina	argentina	PROPN
emaj-190	85	13	,	,	PUNCT
emaj-190	85	14	kazakhstan	kazakhstan	PROPN
emaj-190	85	15	,	,	PUNCT
emaj-190	85	16	nicaragua	nicaragua	PROPN
emaj-190	85	17	,	,	PUNCT
emaj-190	85	18	morocco	morocco	PROPN
emaj-190	85	19	,	,	PUNCT
emaj-190	85	20	india	india	PROPN
emaj-190	85	21	,	,	PUNCT
emaj-190	85	22	czech	czech	PROPN
emaj-190	85	23	republic	republic	PROPN
emaj-190	85	24	,	,	PUNCT
emaj-190	85	25	indonesia	indonesia	PROPN
emaj-190	85	26	,	,	PUNCT
emaj-190	85	27	brazil	brazil	PROPN
emaj-190	85	28	,	,	PUNCT
emaj-190	85	29	poland	poland	PROPN
emaj-190	85	30	and	and	CCONJ
emaj-190	85	31	russia	russia	PROPN
emaj-190	85	32	.	.	PUNCT
emaj-190	86	1	4see	4see	NUM
emaj-190	86	2	for	for	ADP
emaj-190	86	3	example	example	NOUN
emaj-190	86	4	bougheas	bougheas	PROPN
emaj-190	86	5	et	et	PROPN
emaj-190	86	6	al	al	PROPN
emaj-190	86	7	.	.	PROPN
emaj-190	86	8	(	(	PUNCT
emaj-190	86	9	2006	2006	NUM
emaj-190	86	10	)	)	PUNCT
emaj-190	86	11	;	;	PUNCT
emaj-190	87	1	ang	ang	INTJ
emaj-190	87	2	(	(	PUNCT
emaj-190	87	3	1992	1992	NUM
emaj-190	87	4	)	)	PUNCT
emaj-190	87	5	;	;	PUNCT
emaj-190	87	6	cole	cole	PROPN
emaj-190	87	7	(	(	PUNCT
emaj-190	87	8	2013	2013	NUM
emaj-190	87	9	)	)	PUNCT
emaj-190	87	10	,	,	PUNCT
emaj-190	87	11	and	and	CCONJ
emaj-190	87	12	goyal	goyal	PROPN
emaj-190	87	13	et	et	PROPN
emaj-190	87	14	al	al	PROPN
emaj-190	87	15	.	.	PROPN
emaj-190	87	16	(	(	PUNCT
emaj-190	87	17	2011	2011	NUM
emaj-190	87	18	)	)	PUNCT
emaj-190	87	19	.	.	PUNCT
emaj-190	88	1	https://www.tbb.org.tr/en/home	https://www.tbb.org.tr/en/home	PROPN
emaj-190	88	2	https://www.tbb.org.tr/en/home	https://www.tbb.org.tr/en/home	NOUN
emaj-190	88	3	https://www.tbb.org.tr/en/home	https://www.tbb.org.tr/en/home	NOUN
emaj-190	88	4	volume	volume	NOUN
emaj-190	88	5	10	10	NUM
emaj-190	88	6	no	no	DET
emaj-190	88	7	1	1	NUM
emaj-190	88	8	(	(	PUNCT
emaj-190	88	9	2020	2020	NUM
emaj-190	88	10	)	)	PUNCT
emaj-190	88	11	|	|	ADV
emaj-190	88	12	issn	issn	VERB
emaj-190	88	13	2158	2158	NUM
emaj-190	88	14	-	-	SYM
emaj-190	88	15	8708	8708	NUM
emaj-190	88	16	(	(	PUNCT
emaj-190	88	17	online	online	NOUN
emaj-190	88	18	)	)	PUNCT
emaj-190	88	19	|	|	ADV
emaj-190	88	20	doi	doi	X
emaj-190	88	21	10.5195	10.5195	NUM
emaj-190	88	22	/	/	SYM
emaj-190	88	23	emaj.2020.190	emaj.2020.190	NOUN
emaj-190	89	1	|	|	NOUN
emaj-190	89	2	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	89	3	bahadır	bahadır	NOUN
emaj-190	89	4	karakoç	karakoç	VERB
emaj-190	89	5	emerging	emerge	VERB
emaj-190	89	6	markets	market	NOUN
emaj-190	89	7	journal	journal	NOUN
emaj-190	89	8	|	|	ADV
emaj-190	89	9	p	p	NOUN
emaj-190	89	10	a	a	DET
emaj-190	89	11	g	g	NOUN
emaj-190	89	12	e	e	NOUN
emaj-190	89	13	|33	|33	NOUN
emaj-190	89	14	figure	figure	NOUN
emaj-190	89	15	2	2	NUM
emaj-190	89	16	.	.	PUNCT
emaj-190	89	17	non	non	ADJ
emaj-190	89	18	-	-	ADJ
emaj-190	89	19	financial	financial	ADJ
emaj-190	89	20	firms	firm	NOUN
emaj-190	89	21	’	’	PART
emaj-190	89	22	financial	financial	ADJ
emaj-190	89	23	debt	debt	NOUN
emaj-190	89	24	ratios	ratio	NOUN
emaj-190	89	25	source	source	NOUN
emaj-190	89	26	:	:	PUNCT
emaj-190	89	27	cbrt	cbrt	PROPN
emaj-190	89	28	,	,	PUNCT
emaj-190	89	29	2018	2018	NUM
emaj-190	89	30	the	the	DET
emaj-190	89	31	distinct	distinct	ADJ
emaj-190	89	32	pattern	pattern	NOUN
emaj-190	89	33	in	in	ADP
emaj-190	89	34	aggregate	aggregate	ADJ
emaj-190	89	35	data	datum	NOUN
emaj-190	89	36	suggests	suggest	VERB
emaj-190	89	37	that	that	SCONJ
emaj-190	89	38	firms	firm	NOUN
emaj-190	89	39	contributed	contribute	VERB
emaj-190	89	40	to	to	ADP
emaj-190	89	41	the	the	DET
emaj-190	89	42	excessive	excessive	ADJ
emaj-190	89	43	debt	debt	NOUN
emaj-190	89	44	stock	stock	NOUN
emaj-190	89	45	inversely	inversely	ADV
emaj-190	89	46	proportional	proportional	ADJ
emaj-190	89	47	to	to	ADP
emaj-190	89	48	their	their	PRON
emaj-190	89	49	size	size	NOUN
emaj-190	89	50	or	or	CCONJ
emaj-190	89	51	directly	directly	ADV
emaj-190	89	52	proportional	proportional	ADJ
emaj-190	89	53	to	to	ADP
emaj-190	89	54	their	their	PRON
emaj-190	89	55	previous	previous	ADJ
emaj-190	89	56	financing	financing	NOUN
emaj-190	89	57	constraints	constraint	NOUN
emaj-190	89	58	.	.	PUNCT
emaj-190	90	1	fluctuations	fluctuation	NOUN
emaj-190	90	2	in	in	ADP
emaj-190	90	3	early	early	ADJ
emaj-190	90	4	and	and	CCONJ
emaj-190	90	5	late	late	ADJ
emaj-190	90	6	2000s	2000	NOUN
emaj-190	90	7	support	support	VERB
emaj-190	90	8	this	this	DET
emaj-190	90	9	conclusion	conclusion	NOUN
emaj-190	90	10	.	.	PUNCT
emaj-190	91	1	the	the	DET
emaj-190	91	2	firms	firm	NOUN
emaj-190	91	3	with	with	ADP
emaj-190	91	4	the	the	DET
emaj-190	91	5	weakest	weak	ADJ
emaj-190	91	6	access	access	NOUN
emaj-190	91	7	have	have	VERB
emaj-190	91	8	the	the	DET
emaj-190	91	9	highest	high	ADJ
emaj-190	91	10	amount	amount	NOUN
emaj-190	91	11	of	of	ADP
emaj-190	91	12	leverage	leverage	NOUN
emaj-190	91	13	and	and	CCONJ
emaj-190	91	14	the	the	DET
emaj-190	91	15	ones	one	NOUN
emaj-190	91	16	with	with	ADP
emaj-190	91	17	presumably	presumably	ADV
emaj-190	91	18	strongest	strong	ADJ
emaj-190	91	19	access	access	NOUN
emaj-190	91	20	have	have	VERB
emaj-190	91	21	the	the	DET
emaj-190	91	22	lowest	low	ADJ
emaj-190	91	23	leverage	leverage	NOUN
emaj-190	91	24	.	.	PUNCT
emaj-190	92	1	a	a	DET
emaj-190	92	2	likely	likely	ADJ
emaj-190	92	3	reason	reason	NOUN
emaj-190	92	4	for	for	ADP
emaj-190	92	5	the	the	DET
emaj-190	92	6	presence	presence	NOUN
emaj-190	92	7	of	of	ADP
emaj-190	92	8	such	such	DET
emaj-190	92	9	a	a	DET
emaj-190	92	10	pattern	pattern	NOUN
emaj-190	92	11	is	be	AUX
emaj-190	92	12	because	because	SCONJ
emaj-190	92	13	illiquid	illiquid	ADJ
emaj-190	92	14	smes	sme	NOUN
emaj-190	92	15	may	may	AUX
emaj-190	92	16	not	not	PART
emaj-190	92	17	be	be	AUX
emaj-190	92	18	able	able	ADJ
emaj-190	92	19	to	to	PART
emaj-190	92	20	obtain	obtain	VERB
emaj-190	92	21	the	the	DET
emaj-190	92	22	amount	amount	NOUN
emaj-190	92	23	of	of	ADP
emaj-190	92	24	credit	credit	NOUN
emaj-190	92	25	they	they	PRON
emaj-190	92	26	need	need	VERB
emaj-190	92	27	in	in	ADP
emaj-190	92	28	a	a	DET
emaj-190	92	29	timely	timely	ADJ
emaj-190	92	30	manner	manner	NOUN
emaj-190	92	31	because	because	SCONJ
emaj-190	92	32	of	of	ADP
emaj-190	92	33	the	the	DET
emaj-190	92	34	major	major	ADJ
emaj-190	92	35	weaknesses	weakness	NOUN
emaj-190	92	36	in	in	ADP
emaj-190	92	37	their	their	PRON
emaj-190	92	38	balance	balance	NOUN
emaj-190	92	39	sheets	sheet	NOUN
emaj-190	92	40	and	and	CCONJ
emaj-190	92	41	have	have	VERB
emaj-190	92	42	to	to	PART
emaj-190	92	43	put	put	VERB
emaj-190	92	44	spending	spending	NOUN
emaj-190	92	45	decisions	decision	NOUN
emaj-190	92	46	on	on	ADP
emaj-190	92	47	hold	hold	NOUN
emaj-190	92	48	due	due	ADP
emaj-190	92	49	to	to	ADP
emaj-190	92	50	the	the	DET
emaj-190	92	51	lack	lack	NOUN
emaj-190	92	52	of	of	ADP
emaj-190	92	53	funding	funding	NOUN
emaj-190	92	54	.	.	PUNCT
emaj-190	93	1	once	once	SCONJ
emaj-190	93	2	the	the	DET
emaj-190	93	3	credit	credit	NOUN
emaj-190	93	4	conditions	condition	NOUN
emaj-190	93	5	are	be	AUX
emaj-190	93	6	improved	improve	VERB
emaj-190	93	7	,	,	PUNCT
emaj-190	93	8	they	they	PRON
emaj-190	93	9	borrow	borrow	VERB
emaj-190	93	10	more	more	ADJ
emaj-190	93	11	to	to	PART
emaj-190	93	12	take	take	VERB
emaj-190	93	13	up	up	ADP
emaj-190	93	14	all	all	DET
emaj-190	93	15	positive	positive	ADJ
emaj-190	93	16	npv	npv	NOUN
emaj-190	93	17	projects	project	NOUN
emaj-190	93	18	that	that	PRON
emaj-190	93	19	were	be	AUX
emaj-190	93	20	previously	previously	ADV
emaj-190	93	21	kept	keep	VERB
emaj-190	93	22	aside	aside	ADV
emaj-190	93	23	.	.	PUNCT
emaj-190	94	1	furthermore	furthermore	ADV
emaj-190	94	2	,	,	PUNCT
emaj-190	94	3	sales	sale	NOUN
emaj-190	94	4	rises	rise	NOUN
emaj-190	94	5	fueled	fuel	VERB
emaj-190	94	6	by	by	ADP
emaj-190	94	7	the	the	DET
emaj-190	94	8	expansionary	expansionary	ADJ
emaj-190	94	9	monetary	monetary	ADJ
emaj-190	94	10	regime	regime	NOUN
emaj-190	94	11	may	may	AUX
emaj-190	94	12	also	also	ADV
emaj-190	94	13	encourage	encourage	VERB
emaj-190	94	14	them	they	PRON
emaj-190	94	15	to	to	PART
emaj-190	94	16	exploit	exploit	VERB
emaj-190	94	17	the	the	DET
emaj-190	94	18	window	window	NOUN
emaj-190	94	19	of	of	ADP
emaj-190	94	20	opportunity	opportunity	NOUN
emaj-190	94	21	today	today	NOUN
emaj-190	94	22	,	,	PUNCT
emaj-190	94	23	resulting	result	VERB
emaj-190	94	24	in	in	ADP
emaj-190	94	25	higher	high	ADJ
emaj-190	94	26	leverage	leverage	NOUN
emaj-190	94	27	.	.	PUNCT
emaj-190	95	1	the	the	DET
emaj-190	95	2	findings	finding	NOUN
emaj-190	95	3	are	be	AUX
emaj-190	95	4	similar	similar	ADJ
emaj-190	95	5	to	to	ADP
emaj-190	95	6	korajczyk	korajczyk	VERB
emaj-190	95	7	&	&	CCONJ
emaj-190	95	8	levy	levy	PROPN
emaj-190	95	9	(	(	PUNCT
emaj-190	95	10	2003	2003	NUM
emaj-190	95	11	)	)	PUNCT
emaj-190	95	12	and	and	CCONJ
emaj-190	95	13	leary	leary	PROPN
emaj-190	95	14	(	(	PUNCT
emaj-190	95	15	2009	2009	NUM
emaj-190	95	16	)	)	PUNCT
emaj-190	95	17	and	and	CCONJ
emaj-190	95	18	consistent	consistent	ADJ
emaj-190	95	19	with	with	ADP
emaj-190	95	20	theoretical	theoretical	ADJ
emaj-190	95	21	ground	ground	NOUN
emaj-190	95	22	established	establish	VERB
emaj-190	95	23	by	by	ADP
emaj-190	95	24	bernanke	bernanke	PROPN
emaj-190	95	25	et	et	PROPN
emaj-190	95	26	al	al	PROPN
emaj-190	95	27	.	.	PROPN
emaj-190	95	28	(	(	PUNCT
emaj-190	95	29	1996	1996	NUM
emaj-190	95	30	)	)	PUNCT
emaj-190	95	31	and	and	CCONJ
emaj-190	95	32	others	other	NOUN
emaj-190	95	33	that	that	PRON
emaj-190	95	34	financially	financially	ADV
emaj-190	95	35	constrained	constrain	VERB
emaj-190	95	36	firms	firm	NOUN
emaj-190	95	37	’	'	PUNCT
emaj-190	95	38	debt	debt	NOUN
emaj-190	95	39	decisions	decision	NOUN
emaj-190	95	40	are	be	AUX
emaj-190	95	41	procyclical	procyclical	ADJ
emaj-190	95	42	and	and	CCONJ
emaj-190	95	43	that	that	PRON
emaj-190	95	44	of	of	ADP
emaj-190	95	45	unconstrained	unconstrained	ADJ
emaj-190	95	46	firms	firm	NOUN
emaj-190	95	47	’	'	PUNCT
emaj-190	95	48	is	be	AUX
emaj-190	95	49	countercyclical	countercyclical	ADJ
emaj-190	95	50	.	.	PUNCT
emaj-190	96	1	since	since	SCONJ
emaj-190	96	2	expansionary	expansionary	ADJ
emaj-190	96	3	monetary	monetary	ADJ
emaj-190	96	4	policies	policy	NOUN
emaj-190	96	5	are	be	AUX
emaj-190	96	6	usually	usually	ADV
emaj-190	96	7	accompanied	accompany	VERB
emaj-190	96	8	by	by	ADP
emaj-190	96	9	lowered	lower	VERB
emaj-190	96	10	cost	cost	NOUN
emaj-190	96	11	of	of	ADP
emaj-190	96	12	financing	financing	NOUN
emaj-190	96	13	,	,	PUNCT
emaj-190	96	14	increased	increase	VERB
emaj-190	96	15	credit	credit	NOUN
emaj-190	96	16	supply	supply	NOUN
emaj-190	96	17	and	and	CCONJ
emaj-190	96	18	rise	rise	VERB
emaj-190	96	19	in	in	ADP
emaj-190	96	20	economic	economic	ADJ
emaj-190	96	21	activity	activity	NOUN
emaj-190	96	22	,	,	PUNCT
emaj-190	96	23	it	it	PRON
emaj-190	96	24	is	be	AUX
emaj-190	96	25	reasonable	reasonable	ADJ
emaj-190	96	26	to	to	PART
emaj-190	96	27	expect	expect	VERB
emaj-190	96	28	that	that	SCONJ
emaj-190	96	29	those	those	PRON
emaj-190	96	30	who	who	PRON
emaj-190	96	31	have	have	AUX
emaj-190	96	32	been	be	AUX
emaj-190	96	33	previously	previously	ADV
emaj-190	96	34	denied	deny	VERB
emaj-190	96	35	funding	funding	NOUN
emaj-190	96	36	would	would	AUX
emaj-190	96	37	desire	desire	VERB
emaj-190	96	38	to	to	PART
emaj-190	96	39	take	take	VERB
emaj-190	96	40	advantage	advantage	NOUN
emaj-190	96	41	of	of	ADP
emaj-190	96	42	eased	ease	VERB
emaj-190	96	43	credit	credit	NOUN
emaj-190	96	44	conditions	condition	NOUN
emaj-190	96	45	,	,	PUNCT
emaj-190	96	46	compared	compare	VERB
emaj-190	96	47	to	to	ADP
emaj-190	96	48	those	those	PRON
emaj-190	96	49	who	who	PRON
emaj-190	96	50	have	have	VERB
emaj-190	96	51	credit	credit	NOUN
emaj-190	96	52	resources	resource	NOUN
emaj-190	96	53	within	within	ADP
emaj-190	96	54	their	their	PRON
emaj-190	96	55	reach	reach	NOUN
emaj-190	96	56	at	at	ADP
emaj-190	96	57	all	all	DET
emaj-190	96	58	times	time	NOUN
emaj-190	96	59	.	.	PUNCT
emaj-190	97	1	figure	figure	VERB
emaj-190	97	2	3	3	NUM
emaj-190	97	3	shows	show	VERB
emaj-190	97	4	non	non	ADJ
emaj-190	97	5	-	-	ADJ
emaj-190	97	6	financial	financial	ADJ
emaj-190	97	7	firms	firm	NOUN
emaj-190	97	8	’	'	PUNCT
emaj-190	97	9	foreign	foreign	ADJ
emaj-190	97	10	currency	currency	NOUN
emaj-190	97	11	denominated	denominate	VERB
emaj-190	97	12	assets	asset	NOUN
emaj-190	97	13	and	and	CCONJ
emaj-190	97	14	liabilities	liability	NOUN
emaj-190	97	15	(	(	PUNCT
emaj-190	97	16	bank	bank	NOUN
emaj-190	97	17	loans	loan	NOUN
emaj-190	97	18	,	,	PUNCT
emaj-190	97	19	debt	debt	NOUN
emaj-190	97	20	securities	security	NOUN
emaj-190	97	21	and	and	CCONJ
emaj-190	97	22	trade	trade	NOUN
emaj-190	97	23	credits	credit	NOUN
emaj-190	97	24	)	)	PUNCT
emaj-190	97	25	,	,	PUNCT
emaj-190	97	26	presenting	present	VERB
emaj-190	97	27	the	the	DET
emaj-190	97	28	severity	severity	NOUN
emaj-190	97	29	of	of	ADP
emaj-190	97	30	exchange	exchange	NOUN
emaj-190	97	31	rate	rate	NOUN
emaj-190	97	32	exposure	exposure	NOUN
emaj-190	97	33	.	.	PUNCT
emaj-190	98	1	the	the	DET
emaj-190	98	2	gap	gap	NOUN
emaj-190	98	3	between	between	ADP
emaj-190	98	4	the	the	DET
emaj-190	98	5	series	series	NOUN
emaj-190	98	6	seems	seem	VERB
emaj-190	98	7	to	to	PART
emaj-190	98	8	have	have	AUX
emaj-190	98	9	become	become	VERB
emaj-190	98	10	particularly	particularly	ADV
emaj-190	98	11	wider	wide	ADJ
emaj-190	98	12	after	after	ADP
emaj-190	98	13	2010	2010	NUM
emaj-190	98	14	,	,	PUNCT
emaj-190	98	15	in	in	ADP
emaj-190	98	16	the	the	DET
emaj-190	98	17	midst	midst	NOUN
emaj-190	98	18	of	of	ADP
emaj-190	98	19	a	a	DET
emaj-190	98	20	period	period	NOUN
emaj-190	98	21	of	of	ADP
emaj-190	98	22	expansionary	expansionary	ADJ
emaj-190	98	23	monetary	monetary	ADJ
emaj-190	98	24	policies	policy	NOUN
emaj-190	98	25	.	.	PUNCT
emaj-190	99	1	as	as	ADP
emaj-190	99	2	of	of	ADP
emaj-190	99	3	2018	2018	NUM
emaj-190	99	4	,	,	PUNCT
emaj-190	99	5	total	total	ADJ
emaj-190	99	6	assets	asset	NOUN
emaj-190	99	7	equal	equal	ADJ
emaj-190	99	8	to	to	ADP
emaj-190	99	9	only	only	ADV
emaj-190	99	10	30	30	NUM
emaj-190	99	11	percent	percent	NOUN
emaj-190	99	12	of	of	ADP
emaj-190	99	13	liabilities	liability	NOUN
emaj-190	99	14	,	,	PUNCT
emaj-190	99	15	which	which	PRON
emaj-190	99	16	give	give	VERB
emaj-190	99	17	rise	rise	NOUN
emaj-190	99	18	to	to	ADP
emaj-190	99	19	vulnerabilities	vulnerability	NOUN
emaj-190	99	20	to	to	ADP
emaj-190	99	21	future	future	ADJ
emaj-190	99	22	monetary	monetary	ADJ
emaj-190	99	23	policies	policy	NOUN
emaj-190	99	24	of	of	ADP
emaj-190	99	25	advanced	advanced	ADJ
emaj-190	99	26	countries	country	NOUN
emaj-190	99	27	(	(	PUNCT
emaj-190	99	28	avdjiev	avdjiev	VERB
emaj-190	99	29	et	et	PROPN
emaj-190	99	30	al	al	PROPN
emaj-190	99	31	.	.	PROPN
emaj-190	99	32	,	,	PUNCT
emaj-190	99	33	2012	2012	NUM
emaj-190	99	34	)	)	PUNCT
emaj-190	99	35	particularly	particularly	ADV
emaj-190	99	36	,	,	PUNCT
emaj-190	99	37	in	in	ADP
emaj-190	99	38	the	the	DET
emaj-190	99	39	events	event	NOUN
emaj-190	99	40	such	such	ADJ
emaj-190	99	41	as	as	ADP
emaj-190	99	42	sudden	sudden	ADJ
emaj-190	99	43	stops	stop	NOUN
emaj-190	99	44	and/or	and/or	CCONJ
emaj-190	99	45	reverse	reverse	VERB
emaj-190	99	46	flows	flow	NOUN
emaj-190	99	47	as	as	SCONJ
emaj-190	99	48	suggested	suggest	VERB
emaj-190	99	49	in	in	ADP
emaj-190	99	50	calvo	calvo	PROPN
emaj-190	99	51	(	(	PUNCT
emaj-190	99	52	1998	1998	NUM
emaj-190	99	53	)	)	PUNCT
emaj-190	99	54	.	.	PUNCT
emaj-190	100	1	a	a	DET
emaj-190	100	2	noteworthy	noteworthy	ADJ
emaj-190	100	3	decline	decline	NOUN
emaj-190	100	4	in	in	ADP
emaj-190	100	5	the	the	DET
emaj-190	100	6	value	value	NOUN
emaj-190	100	7	of	of	ADP
emaj-190	100	8	domestic	domestic	ADJ
emaj-190	100	9	currency	currency	NOUN
emaj-190	100	10	would	would	AUX
emaj-190	100	11	translate	translate	VERB
emaj-190	100	12	into	into	ADP
emaj-190	100	13	a	a	DET
emaj-190	100	14	noteworthy	noteworthy	ADJ
emaj-190	100	15	rise	rise	NOUN
emaj-190	100	16	in	in	ADP
emaj-190	100	17	the	the	DET
emaj-190	100	18	debt	debt	NOUN
emaj-190	100	19	burden	burden	NOUN
emaj-190	100	20	if	if	SCONJ
emaj-190	100	21	the	the	DET
emaj-190	100	22	income	income	NOUN
emaj-190	100	23	is	be	AUX
emaj-190	100	24	denominated	denominate	VERB
emaj-190	100	25	in	in	ADP
emaj-190	100	26	a	a	DET
emaj-190	100	27	currency	currency	NOUN
emaj-190	100	28	other	other	ADJ
emaj-190	100	29	than	than	ADP
emaj-190	100	30	the	the	DET
emaj-190	100	31	debt	debt	NOUN
emaj-190	100	32	.	.	PUNCT
emaj-190	101	1	figure	figure	VERB
emaj-190	101	2	3	3	NUM
emaj-190	101	3	.	.	PUNCT
emaj-190	102	1	non	non	ADJ
emaj-190	102	2	-	-	ADJ
emaj-190	102	3	financial	financial	ADJ
emaj-190	102	4	sector	sector	NOUN
emaj-190	102	5	foreign	foreign	ADJ
emaj-190	102	6	currency	currency	NOUN
emaj-190	102	7	position	position	NOUN
emaj-190	102	8	source	source	NOUN
emaj-190	102	9	:	:	PUNCT
emaj-190	102	10	cbrt	cbrt	PROPN
emaj-190	102	11	,	,	PUNCT
emaj-190	102	12	2018	2018	NUM
emaj-190	102	13	from	from	ADP
emaj-190	102	14	2015	2015	NUM
emaj-190	102	15	to	to	ADP
emaj-190	102	16	20185	20185	NUM
emaj-190	102	17	,	,	PUNCT
emaj-190	102	18	value	value	NOUN
emaj-190	102	19	of	of	ADP
emaj-190	102	20	u.s	u.s	PROPN
emaj-190	102	21	.	.	PROPN
emaj-190	102	22	dollar	dollar	NOUN
emaj-190	102	23	appreciated	appreciate	VERB
emaj-190	102	24	more	more	ADJ
emaj-190	102	25	than	than	ADP
emaj-190	102	26	160	160	NUM
emaj-190	102	27	percent	percent	NOUN
emaj-190	102	28	against	against	ADP
emaj-190	102	29	turkish	turkish	ADJ
emaj-190	102	30	lira	lira	NOUN
emaj-190	102	31	.	.	PUNCT
emaj-190	103	1	in	in	ADP
emaj-190	103	2	other	other	ADJ
emaj-190	103	3	words	word	NOUN
emaj-190	103	4	,	,	PUNCT
emaj-190	103	5	the	the	DET
emaj-190	103	6	value	value	NOUN
emaj-190	103	7	of	of	ADP
emaj-190	103	8	debt	debt	NOUN
emaj-190	103	9	in	in	ADP
emaj-190	103	10	domestic	domestic	ADJ
emaj-190	103	11	currency	currency	NOUN
emaj-190	103	12	almost	almost	ADV
emaj-190	103	13	tripled	triple	VERB
emaj-190	103	14	.	.	PUNCT
emaj-190	104	1	a	a	DET
emaj-190	104	2	sudden	sudden	ADJ
emaj-190	104	3	stop	stop	NOUN
emaj-190	104	4	in	in	ADP
emaj-190	104	5	fc	fc	PROPN
emaj-190	104	6	flow	flow	NOUN
emaj-190	104	7	or	or	CCONJ
emaj-190	104	8	a	a	DET
emaj-190	104	9	reverse	reverse	ADJ
emaj-190	104	10	flow	flow	NOUN
emaj-190	104	11	,	,	PUNCT
emaj-190	104	12	which	which	PRON
emaj-190	104	13	would	would	AUX
emaj-190	104	14	potentially	potentially	ADV
emaj-190	104	15	trigger	trigger	VERB
emaj-190	104	16	depreciation	depreciation	NOUN
emaj-190	104	17	in	in	ADP
emaj-190	104	18	currency	currency	NOUN
emaj-190	104	19	value	value	NOUN
emaj-190	104	20	,	,	PUNCT
emaj-190	104	21	and	and	CCONJ
emaj-190	104	22	consequent	consequent	ADJ
emaj-190	104	23	rises	rise	NOUN
emaj-190	104	24	in	in	ADP
emaj-190	104	25	interest	interest	NOUN
emaj-190	104	26	rates	rate	NOUN
emaj-190	104	27	,	,	PUNCT
emaj-190	104	28	leading	lead	VERB
emaj-190	104	29	to	to	ADP
emaj-190	104	30	a	a	DET
emaj-190	104	31	cut	cut	NOUN
emaj-190	104	32	in	in	ADP
emaj-190	104	33	public	public	ADJ
emaj-190	104	34	spending	spending	NOUN
emaj-190	104	35	,	,	PUNCT
emaj-190	104	36	may	may	AUX
emaj-190	104	37	reduce	reduce	VERB
emaj-190	104	38	the	the	DET
emaj-190	104	39	profitability	profitability	NOUN
emaj-190	104	40	of	of	ADP
emaj-190	104	41	real	real	ADJ
emaj-190	104	42	sector	sector	NOUN
emaj-190	104	43	,	,	PUNCT
emaj-190	104	44	even	even	ADV
emaj-190	104	45	if	if	SCONJ
emaj-190	104	46	the	the	DET
emaj-190	104	47	borrowed	borrow	VERB
emaj-190	104	48	funds	fund	NOUN
emaj-190	104	49	are	be	AUX
emaj-190	104	50	channeled	channel	VERB
emaj-190	104	51	toward	toward	ADP
emaj-190	104	52	efficient	efficient	ADJ
emaj-190	104	53	investments	investment	NOUN
emaj-190	104	54	,	,	PUNCT
emaj-190	104	55	as	as	SCONJ
emaj-190	104	56	experienced	experience	VERB
emaj-190	104	57	very	very	ADV
emaj-190	104	58	recently	recently	ADV
emaj-190	104	59	.	.	PUNCT
emaj-190	105	1	iii	iii	X
emaj-190	105	2	.	.	PUNCT
emaj-190	105	3	monetary	monetary	ADJ
emaj-190	105	4	policy	policy	NOUN
emaj-190	105	5	and	and	CCONJ
emaj-190	105	6	capital	capital	NOUN
emaj-190	105	7	flow	flow	NOUN
emaj-190	105	8	common	common	ADJ
emaj-190	105	9	theme	theme	NOUN
emaj-190	105	10	emphasized	emphasize	VERB
emaj-190	105	11	in	in	ADP
emaj-190	105	12	existing	exist	VERB
emaj-190	105	13	studies	study	NOUN
emaj-190	105	14	is	be	AUX
emaj-190	105	15	that	that	SCONJ
emaj-190	105	16	capital	capital	NOUN
emaj-190	105	17	flow	flow	NOUN
emaj-190	105	18	leads	lead	VERB
emaj-190	105	19	to	to	ADP
emaj-190	105	20	expansionary	expansionary	ADJ
emaj-190	105	21	policy	policy	NOUN
emaj-190	105	22	responses	response	NOUN
emaj-190	105	23	,	,	PUNCT
emaj-190	105	24	and	and	CCONJ
emaj-190	105	25	their	their	PRON
emaj-190	105	26	combination	combination	NOUN
emaj-190	105	27	with	with	ADP
emaj-190	105	28	increased	increase	VERB
emaj-190	105	29	global	global	ADJ
emaj-190	105	30	liquidity	liquidity	NOUN
emaj-190	105	31	is	be	AUX
emaj-190	105	32	the	the	DET
emaj-190	105	33	major	major	ADJ
emaj-190	105	34	driver	driver	NOUN
emaj-190	105	35	of	of	ADP
emaj-190	105	36	credit	credit	NOUN
emaj-190	105	37	booms	boom	NOUN
emaj-190	105	38	(	(	PUNCT
emaj-190	105	39	calderon	calderon	NOUN
emaj-190	105	40	&	&	CCONJ
emaj-190	105	41	kubota	kubota	PROPN
emaj-190	105	42	,	,	PUNCT
emaj-190	105	43	2012	2012	NUM
emaj-190	105	44	;	;	PUNCT
emaj-190	105	45	mendoza	mendoza	PROPN
emaj-190	105	46	&	&	CCONJ
emaj-190	105	47	terrones	terrone	NOUN
emaj-190	105	48	,	,	PUNCT
emaj-190	105	49	2012	2012	NUM
emaj-190	105	50	)	)	PUNCT
emaj-190	105	51	.	.	PUNCT
emaj-190	106	1	although	although	SCONJ
emaj-190	106	2	,	,	PUNCT
emaj-190	106	3	the	the	DET
emaj-190	106	4	expansion	expansion	NOUN
emaj-190	106	5	in	in	ADP
emaj-190	106	6	credit	credit	NOUN
emaj-190	106	7	supply	supply	NOUN
emaj-190	106	8	may	may	AUX
emaj-190	106	9	demand	demand	VERB
emaj-190	106	10	contractionary	contractionary	ADJ
emaj-190	106	11	polices	police	NOUN
emaj-190	106	12	to	to	PART
emaj-190	106	13	be	be	AUX
emaj-190	106	14	confined	confine	VERB
emaj-190	106	15	through	through	ADP
emaj-190	106	16	a	a	DET
emaj-190	106	17	rise	rise	NOUN
emaj-190	106	18	in	in	ADP
emaj-190	106	19	policy	policy	NOUN
emaj-190	106	20	rate	rate	NOUN
emaj-190	106	21	,	,	PUNCT
emaj-190	106	22	it	it	PRON
emaj-190	106	23	feeds	feed	VERB
emaj-190	106	24	the	the	DET
emaj-190	106	25	possibility	possibility	NOUN
emaj-190	106	26	of	of	ADP
emaj-190	106	27	attracting	attract	VERB
emaj-190	106	28	more	more	ADJ
emaj-190	106	29	capital	capital	NOUN
emaj-190	106	30	(	(	PUNCT
emaj-190	106	31	blanchard	blanchard	PROPN
emaj-190	106	32	et	et	PROPN
emaj-190	106	33	al	al	PROPN
emaj-190	106	34	.	.	PROPN
emaj-190	106	35	,	,	PUNCT
emaj-190	106	36	2015	2015	NUM
emaj-190	106	37	)	)	PUNCT
emaj-190	106	38	,	,	PUNCT
emaj-190	106	39	because	because	SCONJ
emaj-190	106	40	the	the	DET
emaj-190	106	41	primary	primary	ADJ
emaj-190	106	42	reason	reason	NOUN
emaj-190	106	43	motivating	motivate	VERB
emaj-190	106	44	borrowing	borrowing	NOUN
emaj-190	106	45	from	from	ADP
emaj-190	106	46	abroad	abroad	ADV
emaj-190	106	47	is	be	AUX
emaj-190	106	48	positive	positive	ADJ
emaj-190	106	49	interest	interest	NOUN
emaj-190	106	50	rate	rate	NOUN
emaj-190	106	51	differential	differential	NOUN
emaj-190	106	52	between	between	ADP
emaj-190	106	53	domestic	domestic	ADJ
emaj-190	106	54	rate	rate	NOUN
emaj-190	106	55	and	and	CCONJ
emaj-190	106	56	the	the	DET
emaj-190	106	57	rate	rate	NOUN
emaj-190	106	58	charged	charge	VERB
emaj-190	106	59	on	on	ADP
emaj-190	106	60	foreign	foreign	ADJ
emaj-190	106	61	funds	fund	NOUN
emaj-190	106	62	(	(	PUNCT
emaj-190	106	63	ahmed	ahmed	PROPN
emaj-190	106	64	&	&	CCONJ
emaj-190	106	65	zlate	zlate	PROPN
emaj-190	106	66	,	,	PUNCT
emaj-190	106	67	2014	2014	NUM
emaj-190	106	68	;	;	PUNCT
emaj-190	107	1	carabarin	carabarin	NOUN
emaj-190	107	2	et	et	PROPN
emaj-190	107	3	al	al	PROPN
emaj-190	107	4	.	.	PROPN
emaj-190	107	5	,	,	PUNCT
emaj-190	107	6	2017	2017	NUM
emaj-190	107	7	)	)	PUNCT
emaj-190	107	8	.	.	PUNCT
emaj-190	108	1	as	as	SCONJ
emaj-190	108	2	the	the	DET
emaj-190	108	3	domestic	domestic	ADJ
emaj-190	108	4	sources	source	NOUN
emaj-190	108	5	continue	continue	VERB
emaj-190	108	6	to	to	PART
emaj-190	108	7	be	be	AUX
emaj-190	108	8	a	a	DET
emaj-190	108	9	more	more	ADV
emaj-190	108	10	costly	costly	ADJ
emaj-190	108	11	option	option	NOUN
emaj-190	108	12	,	,	PUNCT
emaj-190	108	13	both	both	DET
emaj-190	108	14	banks	bank	NOUN
emaj-190	108	15	and	and	CCONJ
emaj-190	108	16	large	large	ADJ
emaj-190	108	17	corporations	corporation	NOUN
emaj-190	108	18	with	with	ADP
emaj-190	108	19	access	access	NOUN
emaj-190	108	20	to	to	ADP
emaj-190	108	21	international	international	ADJ
emaj-190	108	22	capital	capital	NOUN
emaj-190	108	23	markets	market	NOUN
emaj-190	108	24	draw	draw	VERB
emaj-190	108	25	foreign	foreign	ADJ
emaj-190	108	26	funds	fund	NOUN
emaj-190	108	27	into	into	ADP
emaj-190	108	28	the	the	DET
emaj-190	108	29	local	local	ADJ
emaj-190	108	30	system	system	NOUN
emaj-190	108	31	.	.	PUNCT
emaj-190	109	1	accordingly	accordingly	ADV
emaj-190	109	2	,	,	PUNCT
emaj-190	109	3	most	most	ADJ
emaj-190	109	4	emes	eme	NOUN
emaj-190	109	5	have	have	AUX
emaj-190	109	6	responded	respond	VERB
emaj-190	109	7	fc	fc	PROPN
emaj-190	109	8	movements	movement	NOUN
emaj-190	109	9	with	with	ADP
emaj-190	109	10	expansionary	expansionary	ADJ
emaj-190	109	11	monetary	monetary	ADJ
emaj-190	109	12	policy	policy	NOUN
emaj-190	109	13	measures	measure	NOUN
emaj-190	109	14	,	,	PUNCT
emaj-190	109	15	particularly	particularly	ADV
emaj-190	109	16	reducing	reduce	VERB
emaj-190	109	17	their	their	PRON
emaj-190	109	18	interest	interest	NOUN
emaj-190	109	19	rates	rate	NOUN
emaj-190	109	20	(	(	PUNCT
emaj-190	109	21	anaya	anaya	PROPN
emaj-190	109	22	et	et	PROPN
emaj-190	109	23	al	al	PROPN
emaj-190	109	24	.	.	PROPN
emaj-190	109	25	,	,	PUNCT
emaj-190	109	26	2017	2017	NUM
emaj-190	109	27	)	)	PUNCT
emaj-190	109	28	.	.	PUNCT
emaj-190	110	1	consistently	consistently	ADV
emaj-190	110	2	,	,	PUNCT
emaj-190	110	3	as	as	SCONJ
emaj-190	110	4	fc	fc	PROPN
emaj-190	110	5	comes	come	VERB
emaj-190	110	6	in	in	ADP
emaj-190	110	7	cbrt	cbrt	PROPN
emaj-190	110	8	embraces	embrace	VERB
emaj-190	110	9	an	an	DET
emaj-190	110	10	expansionary	expansionary	ADJ
emaj-190	110	11	strategy	strategy	NOUN
emaj-190	110	12	and	and	CCONJ
emaj-190	110	13	constantly	constantly	ADV
emaj-190	110	14	lowers	lower	VERB
emaj-190	110	15	the	the	DET
emaj-190	110	16	rates	rate	NOUN
emaj-190	110	17	,	,	PUNCT
emaj-190	110	18	as	as	SCONJ
emaj-190	110	19	shown	show	VERB
emaj-190	110	20	in	in	ADP
emaj-190	110	21	figure	figure	NOUN
emaj-190	110	22	4	4	NUM
emaj-190	110	23	.	.	PUNCT
emaj-190	110	24	starting	start	VERB
emaj-190	110	25	early	early	ADJ
emaj-190	110	26	2000s	2000s	NUM
emaj-190	110	27	,	,	PUNCT
emaj-190	110	28	policy	policy	NOUN
emaj-190	110	29	rate	rate	NOUN
emaj-190	110	30	follows	follow	VERB
emaj-190	110	31	a	a	DET
emaj-190	110	32	downward	downward	ADJ
emaj-190	110	33	trend	trend	NOUN
emaj-190	110	34	until	until	ADP
emaj-190	110	35	2014	2014	NUM
emaj-190	110	36	,	,	PUNCT
emaj-190	110	37	at	at	ADP
emaj-190	110	38	a	a	DET
emaj-190	110	39	time	time	NOUN
emaj-190	110	40	the	the	DET
emaj-190	110	41	fed	fed	PROPN
emaj-190	110	42	announces	announce	VERB
emaj-190	110	43	first	first	ADJ
emaj-190	110	44	interest	interest	NOUN
emaj-190	110	45	rate	rate	NOUN
emaj-190	110	46	increase6	increase6	NOUN
emaj-190	110	47	.	.	PUNCT
emaj-190	111	1	5at	5at	ADJ
emaj-190	111	2	the	the	DET
emaj-190	111	3	end	end	NOUN
emaj-190	111	4	of	of	ADP
emaj-190	111	5	2014	2014	NUM
emaj-190	111	6	,	,	PUNCT
emaj-190	111	7	$	$	SYM
emaj-190	111	8	1=2.3870	1=2.3870	NUM
emaj-190	111	9	₺	₺	NUM
emaj-190	111	10	and	and	CCONJ
emaj-190	111	11	late	late	ADJ
emaj-190	111	12	2018s	2018s	NUM
emaj-190	111	13	$	$	SYM
emaj-190	111	14	1=	1=	NUM
emaj-190	111	15	6,2143	6,2143	NOUN
emaj-190	111	16	₺	₺	NUM
emaj-190	111	17	by	by	ADP
emaj-190	111	18	cbrt	cbrt	PROPN
emaj-190	111	19	’s	’s	PART
emaj-190	111	20	exchange	exchange	NOUN
emaj-190	111	21	rates	rate	NOUN
emaj-190	111	22	.	.	PUNCT
emaj-190	112	1	6this	6this	NUM
emaj-190	112	2	is	be	AUX
emaj-190	112	3	not	not	PART
emaj-190	112	4	to	to	PART
emaj-190	112	5	argue	argue	VERB
emaj-190	112	6	that	that	SCONJ
emaj-190	112	7	the	the	DET
emaj-190	112	8	only	only	ADJ
emaj-190	112	9	reason	reason	NOUN
emaj-190	112	10	for	for	ADP
emaj-190	112	11	declining	decline	VERB
emaj-190	112	12	interest	interest	NOUN
emaj-190	112	13	rates	rate	NOUN
emaj-190	112	14	is	be	AUX
emaj-190	112	15	fc	fc	PROPN
emaj-190	112	16	inflow	inflow	NOUN
emaj-190	112	17	since	since	SCONJ
emaj-190	112	18	during	during	ADP
emaj-190	112	19	this	this	DET
emaj-190	112	20	period	period	NOUN
emaj-190	112	21	the	the	DET
emaj-190	112	22	economy	economy	NOUN
emaj-190	112	23	has	have	AUX
emaj-190	112	24	made	make	VERB
emaj-190	112	25	significant	significant	ADJ
emaj-190	112	26	progress	progress	NOUN
emaj-190	112	27	,	,	PUNCT
emaj-190	112	28	which	which	PRON
emaj-190	112	29	is	be	AUX
emaj-190	112	30	reflected	reflect	VERB
emaj-190	112	31	in	in	ADP
emaj-190	112	32	various	various	ADJ
emaj-190	112	33	economic	economic	ADJ
emaj-190	112	34	indicators	indicator	NOUN
emaj-190	112	35	such	such	ADJ
emaj-190	112	36	as	as	ADP
emaj-190	112	37	inflation	inflation	NOUN
emaj-190	112	38	,	,	PUNCT
emaj-190	112	39	employment	employment	NOUN
emaj-190	112	40	,	,	PUNCT
emaj-190	112	41	etc	etc	X
emaj-190	112	42	.	.	X
emaj-190	112	43	,	,	PUNCT
emaj-190	112	44	all	all	PRON
emaj-190	112	45	of	of	ADP
emaj-190	112	46	which	which	PRON
emaj-190	112	47	may	may	AUX
emaj-190	112	48	primarily	primarily	ADV
emaj-190	112	49	contribute	contribute	VERB
emaj-190	112	50	to	to	ADP
emaj-190	112	51	determining	determine	VERB
emaj-190	112	52	policy	policy	NOUN
emaj-190	112	53	rates	rate	NOUN
emaj-190	112	54	.	.	PUNCT
emaj-190	113	1	volume	volume	NOUN
emaj-190	113	2	10	10	NUM
emaj-190	113	3	no	no	DET
emaj-190	113	4	1	1	NUM
emaj-190	113	5	(	(	PUNCT
emaj-190	113	6	2020	2020	NUM
emaj-190	113	7	)	)	PUNCT
emaj-190	113	8	|	|	ADV
emaj-190	113	9	issn	issn	VERB
emaj-190	113	10	2158	2158	NUM
emaj-190	113	11	-	-	SYM
emaj-190	113	12	8708	8708	NUM
emaj-190	113	13	(	(	PUNCT
emaj-190	113	14	online	online	NOUN
emaj-190	113	15	)	)	PUNCT
emaj-190	113	16	|	|	ADV
emaj-190	113	17	doi	doi	X
emaj-190	113	18	10.5195	10.5195	NUM
emaj-190	113	19	/	/	SYM
emaj-190	113	20	emaj.2020.190	emaj.2020.190	ADJ
emaj-190	113	21	|	|	NOUN
emaj-190	113	22	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	113	23	foreign	foreign	ADJ
emaj-190	113	24	capital	capital	NOUN
emaj-190	113	25	,	,	PUNCT
emaj-190	113	26	real	real	ADJ
emaj-190	113	27	sector	sector	NOUN
emaj-190	113	28	financing	financing	NOUN
emaj-190	113	29	and	and	CCONJ
emaj-190	113	30	excessive	excessive	ADJ
emaj-190	113	31	leverage	leverage	NOUN
emaj-190	113	32	in	in	ADP
emaj-190	113	33	turkey	turkey	NOUN
emaj-190	113	34	:	:	PUNCT
emaj-190	113	35	what	what	PRON
emaj-190	113	36	went	go	VERB
emaj-190	113	37	wrong	wrong	ADJ
emaj-190	113	38	?	?	PUNCT
emaj-190	114	1	page	page	NOUN
emaj-190	114	2	|34|	|34|	VERB
emaj-190	114	3	emerging	emerge	VERB
emaj-190	114	4	markets	market	NOUN
emaj-190	114	5	journal	journal	NOUN
emaj-190	114	6	figure	figure	NOUN
emaj-190	114	7	4	4	NUM
emaj-190	114	8	.	.	NOUN
emaj-190	114	9	representative	representative	ADJ
emaj-190	114	10	interest	interest	NOUN
emaj-190	114	11	rates	rate	NOUN
emaj-190	114	12	(	(	PUNCT
emaj-190	114	13	annually	annually	ADV
emaj-190	114	14	)	)	PUNCT
emaj-190	114	15	source	source	NOUN
emaj-190	114	16	:	:	PUNCT
emaj-190	114	17	cbrt	cbrt	PROPN
emaj-190	114	18	,	,	PUNCT
emaj-190	114	19	2018	2018	NUM
emaj-190	114	20	another	another	DET
emaj-190	114	21	monetary	monetary	ADJ
emaj-190	114	22	action	action	NOUN
emaj-190	114	23	taken	take	VERB
emaj-190	114	24	by	by	ADP
emaj-190	114	25	central	central	ADJ
emaj-190	114	26	banks	bank	NOUN
emaj-190	114	27	in	in	ADP
emaj-190	114	28	emes	eme	NOUN
emaj-190	114	29	as	as	ADP
emaj-190	114	30	a	a	DET
emaj-190	114	31	response	response	NOUN
emaj-190	114	32	to	to	ADP
emaj-190	114	33	recent	recent	ADJ
emaj-190	114	34	capital	capital	NOUN
emaj-190	114	35	movements	movement	NOUN
emaj-190	114	36	was	be	AUX
emaj-190	114	37	to	to	PART
emaj-190	114	38	resort	resort	VERB
emaj-190	114	39	to	to	ADP
emaj-190	114	40	purchase	purchase	NOUN
emaj-190	114	41	of	of	ADP
emaj-190	114	42	foreign	foreign	ADJ
emaj-190	114	43	currency	currency	NOUN
emaj-190	114	44	,	,	PUNCT
emaj-190	114	45	aiming	aim	VERB
emaj-190	114	46	to	to	PART
emaj-190	114	47	mitigate	mitigate	VERB
emaj-190	114	48	upward	upward	ADJ
emaj-190	114	49	pressure	pressure	NOUN
emaj-190	114	50	on	on	ADP
emaj-190	114	51	exchange	exchange	NOUN
emaj-190	114	52	rates	rate	NOUN
emaj-190	114	53	(	(	PUNCT
emaj-190	114	54	ahmed	ahmed	PROPN
emaj-190	114	55	&	&	CCONJ
emaj-190	114	56	zlate	zlate	PROPN
emaj-190	114	57	,	,	PUNCT
emaj-190	114	58	2012	2012	NUM
emaj-190	114	59	;	;	PUNCT
emaj-190	114	60	reinhart	reinhart	PROPN
emaj-190	114	61	&	&	CCONJ
emaj-190	114	62	reinhart	reinhart	PROPN
emaj-190	114	63	,	,	PUNCT
emaj-190	114	64	2009	2009	NUM
emaj-190	114	65	)	)	PUNCT
emaj-190	114	66	and	and	CCONJ
emaj-190	114	67	possibly	possibly	ADV
emaj-190	114	68	create	create	VERB
emaj-190	114	69	an	an	DET
emaj-190	114	70	insurance	insurance	NOUN
emaj-190	114	71	for	for	ADP
emaj-190	114	72	future	future	ADJ
emaj-190	114	73	economic	economic	ADJ
emaj-190	114	74	shocks	shock	NOUN
emaj-190	114	75	(	(	PUNCT
emaj-190	114	76	alberola	alberola	PROPN
emaj-190	114	77	,	,	PUNCT
emaj-190	114	78	erce	erce	NOUN
emaj-190	114	79	&	&	CCONJ
emaj-190	114	80	serena	serena	PROPN
emaj-190	114	81	,	,	PUNCT
emaj-190	114	82	2016	2016	NUM
emaj-190	114	83	;	;	PUNCT
emaj-190	115	1	gosh	gosh	INTJ
emaj-190	115	2	et	et	PROPN
emaj-190	115	3	al	al	PROPN
emaj-190	115	4	.	.	PROPN
emaj-190	115	5	,	,	PUNCT
emaj-190	115	6	2012	2012	NUM
emaj-190	115	7	)	)	PUNCT
emaj-190	115	8	.	.	PUNCT
emaj-190	116	1	after	after	ADP
emaj-190	116	2	bearing	bear	VERB
emaj-190	116	3	the	the	DET
emaj-190	116	4	cost	cost	NOUN
emaj-190	116	5	of	of	ADP
emaj-190	116	6	economic	economic	ADJ
emaj-190	116	7	crisis	crisis	NOUN
emaj-190	116	8	of	of	ADP
emaj-190	116	9	last	last	ADJ
emaj-190	116	10	decades	decade	NOUN
emaj-190	116	11	,	,	PUNCT
emaj-190	116	12	many	many	ADJ
emaj-190	116	13	ems	em	NOUN
emaj-190	116	14	have	have	AUX
emaj-190	116	15	adopted	adopt	VERB
emaj-190	116	16	monetary	monetary	ADJ
emaj-190	116	17	policies	policy	NOUN
emaj-190	116	18	aiming	aim	VERB
emaj-190	116	19	to	to	PART
emaj-190	116	20	maintain	maintain	VERB
emaj-190	116	21	certain	certain	ADJ
emaj-190	116	22	level	level	NOUN
emaj-190	116	23	of	of	ADP
emaj-190	116	24	exchange	exchange	NOUN
emaj-190	116	25	rate	rate	NOUN
emaj-190	116	26	flexibility	flexibility	NOUN
emaj-190	116	27	and	and	CCONJ
emaj-190	116	28	monetary	monetary	ADJ
emaj-190	116	29	independence	independence	NOUN
emaj-190	116	30	.	.	PUNCT
emaj-190	117	1	sustainability	sustainability	NOUN
emaj-190	117	2	of	of	ADP
emaj-190	117	3	such	such	ADJ
emaj-190	117	4	policy	policy	NOUN
emaj-190	117	5	required	require	VERB
emaj-190	117	6	accumulation	accumulation	NOUN
emaj-190	117	7	of	of	ADP
emaj-190	117	8	foreign	foreign	ADJ
emaj-190	117	9	currency	currency	NOUN
emaj-190	117	10	reserves	reserve	NOUN
emaj-190	117	11	,	,	PUNCT
emaj-190	117	12	which	which	PRON
emaj-190	117	13	leads	lead	VERB
emaj-190	117	14	to	to	ADP
emaj-190	117	15	flexible	flexible	ADJ
emaj-190	117	16	but	but	CCONJ
emaj-190	117	17	still	still	ADV
emaj-190	117	18	managed	manage	VERB
emaj-190	117	19	exchange	exchange	NOUN
emaj-190	117	20	rate	rate	NOUN
emaj-190	117	21	policy	policy	NOUN
emaj-190	117	22	,	,	PUNCT
emaj-190	117	23	allowing	allow	VERB
emaj-190	117	24	conducting	conduct	VERB
emaj-190	117	25	relatively	relatively	ADV
emaj-190	117	26	independent	independent	ADJ
emaj-190	117	27	monetary	monetary	ADJ
emaj-190	117	28	policies	policy	NOUN
emaj-190	117	29	,	,	PUNCT
emaj-190	117	30	and	and	CCONJ
emaj-190	117	31	leaving	leave	VERB
emaj-190	117	32	room	room	NOUN
emaj-190	117	33	for	for	ADP
emaj-190	117	34	financial	financial	ADJ
emaj-190	117	35	integration	integration	NOUN
emaj-190	117	36	(	(	PUNCT
emaj-190	117	37	aizenman	aizenman	NOUN
emaj-190	117	38	&	&	CCONJ
emaj-190	117	39	glick	glick	PROPN
emaj-190	117	40	,	,	PUNCT
emaj-190	117	41	2009	2009	NUM
emaj-190	117	42	)	)	PUNCT
emaj-190	117	43	.	.	PUNCT
emaj-190	118	1	despite	despite	SCONJ
emaj-190	118	2	favored	favor	VERB
emaj-190	118	3	nature	nature	NOUN
emaj-190	118	4	of	of	ADP
emaj-190	118	5	foreign	foreign	ADJ
emaj-190	118	6	currency	currency	NOUN
emaj-190	118	7	accumulation	accumulation	NOUN
emaj-190	118	8	program	program	NOUN
emaj-190	118	9	,	,	PUNCT
emaj-190	118	10	empirical	empirical	ADJ
emaj-190	118	11	findings	finding	NOUN
emaj-190	118	12	suggest	suggest	VERB
emaj-190	118	13	that	that	SCONJ
emaj-190	118	14	it	it	PRON
emaj-190	118	15	actually	actually	ADV
emaj-190	118	16	encourages	encourage	VERB
emaj-190	118	17	borrowing	borrow	VERB
emaj-190	118	18	from	from	ADP
emaj-190	118	19	abroad	abroad	ADV
emaj-190	118	20	,	,	PUNCT
emaj-190	118	21	the	the	DET
emaj-190	118	22	effect	effect	NOUN
emaj-190	118	23	it	it	PRON
emaj-190	118	24	has	have	AUX
emaj-190	118	25	been	be	AUX
emaj-190	118	26	designed	design	VERB
emaj-190	118	27	to	to	PART
emaj-190	118	28	mitigate	mitigate	VERB
emaj-190	118	29	.	.	PUNCT
emaj-190	119	1	this	this	PRON
emaj-190	119	2	is	be	AUX
emaj-190	119	3	best	well	ADV
emaj-190	119	4	described	describe	VERB
emaj-190	119	5	in	in	ADP
emaj-190	119	6	montiel	montiel	PROPN
emaj-190	119	7	and	and	CCONJ
emaj-190	119	8	reinhart	reinhart	PROPN
emaj-190	119	9	(	(	PUNCT
emaj-190	119	10	1999	1999	NUM
emaj-190	119	11	)	)	PUNCT
emaj-190	119	12	who	who	PRON
emaj-190	119	13	sterilized	sterilize	VERB
emaj-190	119	14	that	that	DET
emaj-190	119	15	intervention7	intervention7	NOUN
emaj-190	119	16	attracts	attract	VERB
emaj-190	119	17	more	more	ADJ
emaj-190	119	18	capital	capital	NOUN
emaj-190	119	19	by	by	ADP
emaj-190	119	20	offering	offer	VERB
emaj-190	119	21	relatively	relatively	ADV
emaj-190	119	22	higher	high	ADJ
emaj-190	119	23	return	return	NOUN
emaj-190	119	24	and	and	CCONJ
emaj-190	119	25	stable	stable	ADJ
emaj-190	119	26	exchange	exchange	NOUN
emaj-190	119	27	rates	rate	NOUN
emaj-190	119	28	,	,	PUNCT
emaj-190	119	29	both	both	PRON
emaj-190	119	30	of	of	ADP
emaj-190	119	31	which	which	PRON
emaj-190	119	32	motivate	motivate	VERB
emaj-190	119	33	each	each	DET
emaj-190	119	34	party	party	NOUN
emaj-190	119	35	,	,	PUNCT
emaj-190	119	36	the	the	DET
emaj-190	119	37	lender	lender	NOUN
emaj-190	119	38	and	and	CCONJ
emaj-190	119	39	the	the	DET
emaj-190	119	40	borrower	borrower	NOUN
emaj-190	119	41	,	,	PUNCT
emaj-190	119	42	giving	give	VERB
emaj-190	119	43	rise	rise	NOUN
emaj-190	119	44	to	to	ADP
emaj-190	119	45	borrowing	borrow	VERB
emaj-190	119	46	in	in	ADP
emaj-190	119	47	foreign	foreign	ADJ
emaj-190	119	48	currency	currency	NOUN
emaj-190	119	49	.	.	PUNCT
emaj-190	120	1	validity	validity	NOUN
emaj-190	120	2	of	of	ADP
emaj-190	120	3	this	this	DET
emaj-190	120	4	point	point	NOUN
emaj-190	120	5	is	be	AUX
emaj-190	120	6	empirically	empirically	ADV
emaj-190	120	7	documented	document	VERB
emaj-190	120	8	by	by	ADP
emaj-190	120	9	alberola	alberola	PROPN
emaj-190	120	10	et	et	PROPN
emaj-190	120	11	al	al	PROPN
emaj-190	120	12	.	.	PROPN
emaj-190	121	1	(	(	PUNCT
emaj-190	121	2	2017	2017	NUM
emaj-190	121	3	)	)	PUNCT
emaj-190	121	4	.	.	PUNCT
emaj-190	122	1	they	they	PRON
emaj-190	122	2	examine	examine	VERB
emaj-190	122	3	gross	gross	ADJ
emaj-190	122	4	capital	capital	NOUN
emaj-190	122	5	inflow	inflow	NOUN
emaj-190	122	6	to	to	ADP
emaj-190	122	7	63	63	NUM
emaj-190	122	8	countries	country	NOUN
emaj-190	122	9	,	,	PUNCT
emaj-190	122	10	and	and	CCONJ
emaj-190	122	11	find	find	VERB
emaj-190	122	12	that	that	SCONJ
emaj-190	122	13	hoarding	hoarding	NOUN
emaj-190	122	14	of	of	ADP
emaj-190	122	15	foreign	foreign	ADJ
emaj-190	122	16	currency	currency	NOUN
emaj-190	122	17	reserves	reserve	NOUN
emaj-190	122	18	positively	positively	ADV
emaj-190	122	19	and	and	CCONJ
emaj-190	122	20	significantly	significantly	ADV
emaj-190	122	21	increases	increase	VERB
emaj-190	122	22	capital	capital	ADJ
emaj-190	122	23	inflow	inflow	NOUN
emaj-190	122	24	.	.	PUNCT
emaj-190	123	1	furthermore	furthermore	ADV
emaj-190	123	2	,	,	PUNCT
emaj-190	123	3	foreign	foreign	ADJ
emaj-190	123	4	currency	currency	NOUN
emaj-190	123	5	reserves	reserve	NOUN
emaj-190	123	6	reduce	reduce	VERB
emaj-190	123	7	currency	currency	NOUN
emaj-190	123	8	mismatch	mismatch	NOUN
emaj-190	123	9	risk	risk	NOUN
emaj-190	123	10	in	in	ADP
emaj-190	123	11	the	the	DET
emaj-190	123	12	eyes	eye	NOUN
emaj-190	123	13	of	of	ADP
emaj-190	123	14	both	both	CCONJ
emaj-190	123	15	international	international	ADJ
emaj-190	123	16	capital	capital	NOUN
emaj-190	123	17	suppliers	supplier	NOUN
emaj-190	123	18	and	and	CCONJ
emaj-190	123	19	em	em	PRON
emaj-190	123	20	borrowers	borrower	NOUN
emaj-190	123	21	,	,	PUNCT
emaj-190	123	22	strengthening	strengthen	VERB
emaj-190	123	23	the	the	DET
emaj-190	123	24	lending	lending	NOUN
emaj-190	123	25	/	/	SYM
emaj-190	123	26	borrowing	borrowing	NOUN
emaj-190	123	27	relation	relation	NOUN
emaj-190	123	28	between	between	ADP
emaj-190	123	29	the	the	DET
emaj-190	123	30	parties	party	NOUN
emaj-190	123	31	(	(	PUNCT
emaj-190	123	32	chui	chui	PROPN
emaj-190	123	33	et	et	PROPN
emaj-190	123	34	al	al	PROPN
emaj-190	123	35	.	.	PROPN
emaj-190	123	36	,	,	PUNCT
emaj-190	123	37	2016	2016	NUM
emaj-190	123	38	)	)	PUNCT
emaj-190	123	39	.	.	PUNCT
emaj-190	124	1	similar	similar	ADJ
emaj-190	124	2	conclusions	conclusion	NOUN
emaj-190	124	3	have	have	AUX
emaj-190	124	4	been	be	AUX
emaj-190	124	5	reported	report	VERB
emaj-190	124	6	by	by	ADP
emaj-190	124	7	gosh	gosh	INTJ
emaj-190	124	8	et	et	PROPN
emaj-190	124	9	al	al	PROPN
emaj-190	124	10	.	.	PROPN
emaj-190	125	1	(	(	PUNCT
emaj-190	125	2	2012	2012	NUM
emaj-190	125	3	)	)	PUNCT
emaj-190	125	4	and	and	CCONJ
emaj-190	125	5	magud	magud	NOUN
emaj-190	125	6	et	et	PROPN
emaj-190	125	7	al	al	PROPN
emaj-190	125	8	.	.	PROPN
emaj-190	126	1	(	(	PUNCT
emaj-190	126	2	2012	2012	NUM
emaj-190	126	3	)	)	PUNCT
emaj-190	126	4	.	.	PUNCT
emaj-190	127	1	the	the	DET
emaj-190	127	2	evidence	evidence	NOUN
emaj-190	127	3	they	they	PRON
emaj-190	127	4	demonstrate	demonstrate	VERB
emaj-190	127	5	suggests	suggest	VERB
emaj-190	127	6	that	that	SCONJ
emaj-190	127	7	less	less	ADV
emaj-190	127	8	flexible	flexible	ADJ
emaj-190	127	9	exchange	exchange	NOUN
emaj-190	127	10	rates	rate	NOUN
emaj-190	127	11	,	,	PUNCT
emaj-190	127	12	mostly	mostly	ADV
emaj-190	127	13	sustained	sustain	VERB
emaj-190	127	14	by	by	ADP
emaj-190	127	15	foreign	foreign	ADJ
emaj-190	127	16	currency	currency	NOUN
emaj-190	127	17	reserve	reserve	NOUN
emaj-190	127	18	accumulation	accumulation	NOUN
emaj-190	127	19	,	,	PUNCT
emaj-190	127	20	make	make	VERB
emaj-190	127	21	borrowing	borrowing	NOUN
emaj-190	127	22	from	from	ADP
emaj-190	127	23	abroad	abroad	ADV
emaj-190	127	24	sources	source	NOUN
emaj-190	127	25	attractive	attractive	ADJ
emaj-190	127	26	,	,	PUNCT
emaj-190	127	27	building	build	VERB
emaj-190	127	28	expectations	expectation	NOUN
emaj-190	127	29	about	about	ADP
emaj-190	127	30	stability	stability	NOUN
emaj-190	127	31	of	of	ADP
emaj-190	127	32	the	the	DET
emaj-190	127	33	exchange	exchange	NOUN
emaj-190	127	34	rates	rate	NOUN
emaj-190	127	35	in	in	ADP
emaj-190	127	36	the	the	DET
emaj-190	127	37	future	future	NOUN
emaj-190	127	38	.	.	PUNCT
emaj-190	128	1	it	it	PRON
emaj-190	128	2	must	must	AUX
emaj-190	128	3	have	have	AUX
emaj-190	128	4	created	create	VERB
emaj-190	128	5	an	an	DET
emaj-190	128	6	illusion	illusion	NOUN
emaj-190	128	7	that	that	SCONJ
emaj-190	128	8	,	,	PUNCT
emaj-190	128	9	every	every	DET
emaj-190	128	10	time	time	NOUN
emaj-190	128	11	exchange	exchange	NOUN
emaj-190	128	12	rates	rate	NOUN
emaj-190	128	13	fluctuate	fluctuate	VERB
emaj-190	128	14	too	too	ADV
emaj-190	128	15	much	much	ADV
emaj-190	128	16	,	,	PUNCT
emaj-190	128	17	the	the	DET
emaj-190	128	18	central	central	ADJ
emaj-190	128	19	bank	bank	NOUN
emaj-190	128	20	will	will	AUX
emaj-190	128	21	step	step	VERB
emaj-190	128	22	in	in	ADV
emaj-190	128	23	and	and	CCONJ
emaj-190	128	24	reset	reset	VERB
emaj-190	128	25	the	the	DET
emaj-190	128	26	rates	rate	NOUN
emaj-190	128	27	by	by	ADP
emaj-190	128	28	deploying	deploy	VERB
emaj-190	128	29	foreign	foreign	ADJ
emaj-190	128	30	currency	currency	NOUN
emaj-190	128	31	reserve	reserve	NOUN
emaj-190	128	32	,	,	PUNCT
emaj-190	128	33	thus	thus	ADV
emaj-190	128	34	they	they	PRON
emaj-190	128	35	will	will	AUX
emaj-190	128	36	not	not	PART
emaj-190	128	37	be	be	AUX
emaj-190	128	38	exposed	expose	VERB
emaj-190	128	39	.	.	PUNCT
emaj-190	129	1	the	the	DET
emaj-190	129	2	information	information	NOUN
emaj-190	129	3	on	on	ADP
emaj-190	129	4	cbrt	cbrt	PROPN
emaj-190	129	5	website	website	NOUN
emaj-190	129	6	clarifies	clarify	VERB
emaj-190	129	7	that	that	SCONJ
emaj-190	129	8	,	,	PUNCT
emaj-190	129	9	currency	currency	NOUN
emaj-190	129	10	reserves	reserve	NOUN
emaj-190	129	11	are	be	AUX
emaj-190	129	12	to	to	PART
emaj-190	129	13	be	be	AUX
emaj-190	129	14	used	use	VERB
emaj-190	129	15	in	in	ADP
emaj-190	129	16	implementing	implement	VERB
emaj-190	129	17	7it	7it	NOUN
emaj-190	129	18	is	be	AUX
emaj-190	129	19	called	call	VERB
emaj-190	129	20	sterilized	sterilize	VERB
emaj-190	129	21	intervention	intervention	NOUN
emaj-190	129	22	if	if	SCONJ
emaj-190	129	23	the	the	DET
emaj-190	129	24	central	central	ADJ
emaj-190	129	25	bank	bank	NOUN
emaj-190	129	26	completely	completely	ADV
emaj-190	129	27	mops	mop	VERB
emaj-190	129	28	up	up	ADP
emaj-190	129	29	the	the	DET
emaj-190	129	30	expansion	expansion	NOUN
emaj-190	129	31	in	in	ADP
emaj-190	129	32	money	money	NOUN
emaj-190	129	33	supply	supply	NOUN
emaj-190	129	34	as	as	ADP
emaj-190	129	35	a	a	DET
emaj-190	129	36	result	result	NOUN
emaj-190	129	37	of	of	ADP
emaj-190	129	38	foreign	foreign	ADJ
emaj-190	129	39	currency	currency	NOUN
emaj-190	129	40	purchase	purchase	NOUN
emaj-190	129	41	and	and	CCONJ
emaj-190	129	42	leaves	leave	VERB
emaj-190	129	43	the	the	DET
emaj-190	129	44	money	money	NOUN
emaj-190	129	45	supply	supply	NOUN
emaj-190	129	46	unchanged	unchanged	ADJ
emaj-190	129	47	after	after	ADP
emaj-190	129	48	the	the	DET
emaj-190	129	49	purchase	purchase	NOUN
emaj-190	129	50	.	.	PUNCT
emaj-190	130	1	predetermined	predetermine	VERB
emaj-190	130	2	monetary	monetary	ADJ
emaj-190	130	3	policy	policy	NOUN
emaj-190	130	4	and	and	CCONJ
emaj-190	130	5	exchange	exchange	NOUN
emaj-190	130	6	rate	rate	NOUN
emaj-190	130	7	regime	regime	NOUN
emaj-190	130	8	.	.	PUNCT
emaj-190	131	1	accordingly	accordingly	ADV
emaj-190	131	2	,	,	PUNCT
emaj-190	131	3	as	as	SCONJ
emaj-190	131	4	the	the	DET
emaj-190	131	5	fc	fc	PROPN
emaj-190	131	6	inflow	inflow	NOUN
emaj-190	131	7	gained	gain	VERB
emaj-190	131	8	magnitude	magnitude	NOUN
emaj-190	131	9	,	,	PUNCT
emaj-190	131	10	the	the	DET
emaj-190	131	11	cbrt	cbrt	NOUN
emaj-190	131	12	,	,	PUNCT
emaj-190	131	13	as	as	ADP
emaj-190	131	14	part	part	NOUN
emaj-190	131	15	of	of	ADP
emaj-190	131	16	monetary	monetary	ADJ
emaj-190	131	17	policy	policy	NOUN
emaj-190	131	18	,	,	PUNCT
emaj-190	131	19	increased	increase	VERB
emaj-190	131	20	the	the	DET
emaj-190	131	21	stock	stock	NOUN
emaj-190	131	22	of	of	ADP
emaj-190	131	23	foreign	foreign	ADJ
emaj-190	131	24	currency	currency	NOUN
emaj-190	131	25	in	in	ADP
emaj-190	131	26	order	order	NOUN
emaj-190	131	27	to	to	PART
emaj-190	131	28	restrict	restrict	VERB
emaj-190	131	29	the	the	DET
emaj-190	131	30	rises	rise	NOUN
emaj-190	131	31	in	in	ADP
emaj-190	131	32	the	the	DET
emaj-190	131	33	value	value	NOUN
emaj-190	131	34	of	of	ADP
emaj-190	131	35	tl	tl	PROPN
emaj-190	131	36	,	,	PUNCT
emaj-190	131	37	to	to	PART
emaj-190	131	38	prevent	prevent	VERB
emaj-190	131	39	trade	trade	NOUN
emaj-190	131	40	account	account	NOUN
emaj-190	131	41	balance	balance	NOUN
emaj-190	131	42	from	from	ADP
emaj-190	131	43	worsening	worsen	VERB
emaj-190	131	44	and	and	CCONJ
emaj-190	131	45	to	to	PART
emaj-190	131	46	prepare	prepare	VERB
emaj-190	131	47	for	for	ADP
emaj-190	131	48	future	future	ADJ
emaj-190	131	49	economic	economic	ADJ
emaj-190	131	50	shocks	shock	NOUN
emaj-190	131	51	when	when	SCONJ
emaj-190	131	52	global	global	ADJ
emaj-190	131	53	liquidity	liquidity	NOUN
emaj-190	131	54	fades	fade	VERB
emaj-190	131	55	away	away	ADV
emaj-190	131	56	(	(	PUNCT
emaj-190	131	57	aysan	aysan	ADJ
emaj-190	131	58	,	,	PUNCT
emaj-190	131	59	fendoğlu	fendoğlu	PROPN
emaj-190	131	60	&	&	CCONJ
emaj-190	131	61	kılınç	kılınç	PROPN
emaj-190	131	62	,	,	PUNCT
emaj-190	131	63	2014	2014	NUM
emaj-190	131	64	)	)	PUNCT
emaj-190	131	65	.	.	PUNCT
emaj-190	132	1	the	the	DET
emaj-190	132	2	reserves	reserve	NOUN
emaj-190	132	3	are	be	AUX
emaj-190	132	4	constantly	constantly	ADV
emaj-190	132	5	increased	increase	VERB
emaj-190	132	6	from	from	ADP
emaj-190	132	7	2002	2002	NUM
emaj-190	132	8	to	to	ADP
emaj-190	132	9	20118	20118	NUM
emaj-190	132	10	,	,	PUNCT
emaj-190	132	11	in	in	ADP
emaj-190	132	12	times	time	NOUN
emaj-190	132	13	of	of	ADP
emaj-190	132	14	high	high	ADJ
emaj-190	132	15	fc	fc	PROPN
emaj-190	132	16	inflow	inflow	NOUN
emaj-190	132	17	,	,	PUNCT
emaj-190	132	18	implicitly	implicitly	ADV
emaj-190	132	19	encouraging	encourage	VERB
emaj-190	132	20	borrowing	borrowing	NOUN
emaj-190	132	21	in	in	ADP
emaj-190	132	22	foreign	foreign	ADJ
emaj-190	132	23	currency	currency	NOUN
emaj-190	132	24	.	.	PUNCT
emaj-190	133	1	last	last	ADJ
emaj-190	133	2	but	but	CCONJ
emaj-190	133	3	not	not	PART
emaj-190	133	4	least	least	ADJ
emaj-190	133	5	,	,	PUNCT
emaj-190	133	6	an	an	DET
emaj-190	133	7	economic	economic	ADJ
emaj-190	133	8	variable	variable	ADJ
emaj-190	133	9	representative	representative	NOUN
emaj-190	133	10	of	of	ADP
emaj-190	133	11	active	active	ADJ
emaj-190	133	12	monetary	monetary	ADJ
emaj-190	133	13	policy	policy	NOUN
emaj-190	133	14	is	be	AUX
emaj-190	133	15	money	money	NOUN
emaj-190	133	16	supply	supply	NOUN
emaj-190	133	17	(	(	PUNCT
emaj-190	133	18	m2	m2	PROPN
emaj-190	133	19	)	)	PUNCT
emaj-190	133	20	and	and	CCONJ
emaj-190	133	21	its	its	PRON
emaj-190	133	22	growth	growth	NOUN
emaj-190	133	23	rate	rate	NOUN
emaj-190	133	24	.	.	PUNCT
emaj-190	134	1	it	it	PRON
emaj-190	134	2	indicates	indicate	VERB
emaj-190	134	3	that	that	SCONJ
emaj-190	134	4	,	,	PUNCT
emaj-190	134	5	from	from	ADP
emaj-190	134	6	2001	2001	NUM
emaj-190	134	7	to	to	ADP
emaj-190	134	8	2014	2014	NUM
emaj-190	134	9	,	,	PUNCT
emaj-190	134	10	money	money	NOUN
emaj-190	134	11	supply	supply	NOUN
emaj-190	134	12	grew	grow	VERB
emaj-190	134	13	at	at	ADP
emaj-190	134	14	an	an	DET
emaj-190	134	15	average	average	ADJ
emaj-190	134	16	rate	rate	NOUN
emaj-190	134	17	of	of	ADP
emaj-190	134	18	about	about	ADV
emaj-190	134	19	30	30	NUM
emaj-190	134	20	percent	percent	NOUN
emaj-190	134	21	annually9	annually9	ADV
emaj-190	134	22	.	.	PUNCT
emaj-190	135	1	it	it	PRON
emaj-190	135	2	would	would	AUX
emaj-190	135	3	be	be	AUX
emaj-190	135	4	fairly	fairly	ADV
emaj-190	135	5	reasonable	reasonable	ADJ
emaj-190	135	6	to	to	PART
emaj-190	135	7	argue	argue	VERB
emaj-190	135	8	that	that	SCONJ
emaj-190	135	9	,	,	PUNCT
emaj-190	135	10	global	global	ADJ
emaj-190	135	11	liquidity	liquidity	NOUN
emaj-190	135	12	has	have	AUX
emaj-190	135	13	also	also	ADV
emaj-190	135	14	contributed	contribute	VERB
emaj-190	135	15	to	to	ADP
emaj-190	135	16	such	such	ADJ
emaj-190	135	17	expansion	expansion	NOUN
emaj-190	135	18	.	.	PUNCT
emaj-190	136	1	although	although	SCONJ
emaj-190	136	2	on	on	ADP
emaj-190	136	3	the	the	DET
emaj-190	136	4	central	central	PROPN
emaj-190	136	5	bank	bank	PROPN
emaj-190	136	6	’s	’s	PART
emaj-190	136	7	website	website	NOUN
emaj-190	136	8	price	price	NOUN
emaj-190	136	9	stability	stability	NOUN
emaj-190	136	10	is	be	AUX
emaj-190	136	11	stated	state	VERB
emaj-190	136	12	as	as	ADP
emaj-190	136	13	the	the	DET
emaj-190	136	14	main	main	ADJ
emaj-190	136	15	goal	goal	NOUN
emaj-190	136	16	of	of	ADP
emaj-190	136	17	monetary	monetary	ADJ
emaj-190	136	18	policy	policy	NOUN
emaj-190	136	19	,	,	PUNCT
emaj-190	136	20	as	as	ADP
emaj-190	136	21	a	a	DET
emaj-190	136	22	response	response	NOUN
emaj-190	136	23	to	to	ADP
emaj-190	136	24	increasing	increase	VERB
emaj-190	136	25	global	global	ADJ
emaj-190	136	26	liquidity	liquidity	NOUN
emaj-190	136	27	it	it	PRON
emaj-190	136	28	seems	seem	VERB
emaj-190	136	29	to	to	PART
emaj-190	136	30	have	have	AUX
emaj-190	136	31	welcomed	welcome	VERB
emaj-190	136	32	capital	capital	NOUN
emaj-190	136	33	flow	flow	NOUN
emaj-190	136	34	,	,	PUNCT
emaj-190	136	35	accordingly	accordingly	ADV
emaj-190	136	36	taken	take	VERB
emaj-190	136	37	expansionary	expansionary	ADJ
emaj-190	136	38	monetary	monetary	ADJ
emaj-190	136	39	policy	policy	NOUN
emaj-190	136	40	measures	measure	NOUN
emaj-190	136	41	in	in	ADP
emaj-190	136	42	response	response	NOUN
emaj-190	136	43	and	and	CCONJ
emaj-190	136	44	conducted	conduct	VERB
emaj-190	136	45	a	a	DET
emaj-190	136	46	relatively	relatively	ADV
emaj-190	136	47	managed	manage	VERB
emaj-190	136	48	exchange	exchange	NOUN
emaj-190	136	49	rate	rate	NOUN
emaj-190	136	50	regime	regime	NOUN
emaj-190	136	51	.	.	PUNCT
emaj-190	137	1	thus	thus	ADV
emaj-190	137	2	,	,	PUNCT
emaj-190	137	3	low	low	ADJ
emaj-190	137	4	interest	interest	NOUN
emaj-190	137	5	rates	rate	NOUN
emaj-190	137	6	,	,	PUNCT
emaj-190	137	7	combined	combine	VERB
emaj-190	137	8	with	with	ADP
emaj-190	137	9	high	high	ADJ
emaj-190	137	10	liquidity	liquidity	NOUN
emaj-190	137	11	fueled	fuel	VERB
emaj-190	137	12	via	via	ADP
emaj-190	137	13	fc	fc	PROPN
emaj-190	137	14	inflow	inflow	PROPN
emaj-190	137	15	and	and	CCONJ
emaj-190	137	16	domestic	domestic	ADJ
emaj-190	137	17	money	money	NOUN
emaj-190	137	18	supply	supply	NOUN
emaj-190	137	19	have	have	AUX
emaj-190	137	20	been	be	AUX
emaj-190	137	21	the	the	DET
emaj-190	137	22	major	major	ADJ
emaj-190	137	23	drivers	driver	NOUN
emaj-190	137	24	of	of	ADP
emaj-190	137	25	the	the	DET
emaj-190	137	26	rise	rise	NOUN
emaj-190	137	27	in	in	ADP
emaj-190	137	28	credit	credit	NOUN
emaj-190	137	29	supply	supply	NOUN
emaj-190	137	30	and	and	CCONJ
emaj-190	137	31	excessive	excessive	ADJ
emaj-190	137	32	leverage	leverage	NOUN
emaj-190	137	33	of	of	ADP
emaj-190	137	34	non	non	ADJ
emaj-190	137	35	-	-	ADJ
emaj-190	137	36	financial	financial	ADJ
emaj-190	137	37	sector	sector	NOUN
emaj-190	137	38	.	.	PUNCT
emaj-190	138	1	iv	iv	X
emaj-190	138	2	.	.	PUNCT
emaj-190	138	3	data	datum	NOUN
emaj-190	138	4	and	and	CCONJ
emaj-190	138	5	methodology	methodology	NOUN
emaj-190	138	6	the	the	DET
emaj-190	138	7	study	study	NOUN
emaj-190	138	8	uses	use	VERB
emaj-190	138	9	unique	unique	ADJ
emaj-190	138	10	data	datum	NOUN
emaj-190	138	11	set	set	VERB
emaj-190	138	12	of	of	ADP
emaj-190	138	13	cbrt	cbrt	PROPN
emaj-190	138	14	that	that	PRON
emaj-190	138	15	includes	include	VERB
emaj-190	138	16	balance	balance	NOUN
emaj-190	138	17	sheet	sheet	NOUN
emaj-190	138	18	and	and	CCONJ
emaj-190	138	19	income	income	NOUN
emaj-190	138	20	statements	statement	NOUN
emaj-190	138	21	of	of	ADP
emaj-190	138	22	more	more	ADJ
emaj-190	138	23	than	than	ADP
emaj-190	138	24	30.000	30.000	NUM
emaj-190	138	25	firms	firm	NOUN
emaj-190	138	26	.	.	PUNCT
emaj-190	139	1	after	after	ADP
emaj-190	139	2	eliminating	eliminate	VERB
emaj-190	139	3	implausible	implausible	ADJ
emaj-190	139	4	values	value	NOUN
emaj-190	139	5	such	such	ADJ
emaj-190	139	6	as	as	ADP
emaj-190	139	7	negative	negative	ADJ
emaj-190	139	8	total	total	ADJ
emaj-190	139	9	and	and	CCONJ
emaj-190	139	10	tangible	tangible	ADJ
emaj-190	139	11	assets	asset	NOUN
emaj-190	139	12	,	,	PUNCT
emaj-190	139	13	the	the	DET
emaj-190	139	14	data	datum	NOUN
emaj-190	139	15	left	leave	VERB
emaj-190	139	16	available	available	ADJ
emaj-190	139	17	has	have	VERB
emaj-190	139	18	151.072	151.072	NUM
emaj-190	139	19	observations	observation	NOUN
emaj-190	139	20	belonging	belong	VERB
emaj-190	139	21	to	to	ADP
emaj-190	139	22	27.522	27.522	NUM
emaj-190	139	23	firms	firm	NOUN
emaj-190	139	24	.	.	PUNCT
emaj-190	140	1	it	it	PRON
emaj-190	140	2	covers	cover	VERB
emaj-190	140	3	non	non	ADJ
emaj-190	140	4	-	-	ADJ
emaj-190	140	5	financial	financial	ADJ
emaj-190	140	6	sectors	sector	NOUN
emaj-190	140	7	,	,	PUNCT
emaj-190	140	8	and	and	CCONJ
emaj-190	140	9	it	it	PRON
emaj-190	140	10	is	be	AUX
emaj-190	140	11	collected	collect	VERB
emaj-190	140	12	from	from	ADP
emaj-190	140	13	firms	firm	NOUN
emaj-190	140	14	via	via	ADP
emaj-190	140	15	annual	annual	ADJ
emaj-190	140	16	surveys	survey	NOUN
emaj-190	140	17	.	.	PUNCT
emaj-190	141	1	firms	firm	NOUN
emaj-190	141	2	have	have	AUX
emaj-190	141	3	been	be	AUX
emaj-190	141	4	split	split	VERB
emaj-190	141	5	into	into	ADP
emaj-190	141	6	groups	group	NOUN
emaj-190	141	7	based	base	VERB
emaj-190	141	8	on	on	ADP
emaj-190	141	9	asset	asset	NOUN
emaj-190	141	10	size	size	NOUN
emaj-190	141	11	(	(	PUNCT
emaj-190	141	12	large	large	ADJ
emaj-190	141	13	,	,	PUNCT
emaj-190	141	14	medium	medium	ADJ
emaj-190	141	15	and	and	CCONJ
emaj-190	141	16	small	small	ADJ
emaj-190	141	17	)	)	PUNCT
emaj-190	141	18	.	.	PUNCT
emaj-190	142	1	firms	firm	NOUN
emaj-190	142	2	whose	whose	DET
emaj-190	142	3	asset	asset	NOUN
emaj-190	142	4	sizes	size	NOUN
emaj-190	142	5	falling	fall	VERB
emaj-190	142	6	into	into	ADP
emaj-190	142	7	top	top	ADJ
emaj-190	142	8	ten	ten	NUM
emaj-190	142	9	percentile	percentile	NOUN
emaj-190	142	10	are	be	AUX
emaj-190	142	11	classified	classify	VERB
emaj-190	142	12	as	as	ADP
emaj-190	142	13	large,10	large,10	NOUN
emaj-190	142	14	and	and	CCONJ
emaj-190	142	15	the	the	DET
emaj-190	142	16	rest	rest	NOUN
emaj-190	142	17	is	be	AUX
emaj-190	142	18	divided	divide	VERB
emaj-190	142	19	equally	equally	ADV
emaj-190	142	20	as	as	ADV
emaj-190	142	21	small	small	ADJ
emaj-190	142	22	and	and	CCONJ
emaj-190	142	23	medium	medium	ADJ
emaj-190	142	24	.	.	NOUN
emaj-190	142	25	table	table	NOUN
emaj-190	142	26	1	1	NUM
emaj-190	142	27	:	:	PUNCT
emaj-190	142	28	descriptive	descriptive	ADJ
emaj-190	142	29	statistics	statistic	NOUN
emaj-190	142	30	for	for	ADP
emaj-190	142	31	financial	financial	ADJ
emaj-190	142	32	debt	debt	NOUN
emaj-190	142	33	analysis	analysis	NOUN
emaj-190	142	34	9m2	9m2	NUM
emaj-190	142	35	data	datum	NOUN
emaj-190	142	36	is	be	AUX
emaj-190	142	37	available	available	ADJ
emaj-190	142	38	at	at	ADP
emaj-190	142	39	https://fred.stlouisfed.org/search/?st=m2%20for%20turk	https://fred.stlouisfed.org/search/?st=m2%20for%20turk	PROPN
emaj-190	142	40	ey	ey	INTJ
emaj-190	142	41	10cbrt	10cbrt	NUM
emaj-190	142	42	’s	’s	PART
emaj-190	142	43	own	own	ADJ
emaj-190	142	44	classification	classification	NOUN
emaj-190	142	45	of	of	ADP
emaj-190	142	46	firm	firm	ADJ
emaj-190	142	47	size	size	NOUN
emaj-190	142	48	considers	consider	VERB
emaj-190	142	49	firms	firm	NOUN
emaj-190	142	50	which	which	PRON
emaj-190	142	51	have	have	VERB
emaj-190	142	52	more	more	ADJ
emaj-190	142	53	than	than	ADP
emaj-190	142	54	500	500	NUM
emaj-190	142	55	workers	worker	NOUN
emaj-190	142	56	as	as	ADP
emaj-190	142	57	the	the	DET
emaj-190	142	58	large	large	ADJ
emaj-190	142	59	firm	firm	NOUN
emaj-190	142	60	,	,	PUNCT
emaj-190	142	61	between	between	ADP
emaj-190	142	62	250	250	NUM
emaj-190	142	63	-	-	SYM
emaj-190	142	64	500	500	NUM
emaj-190	142	65	medium	medium	NOUN
emaj-190	142	66	and	and	CCONJ
emaj-190	142	67	less	less	ADJ
emaj-190	142	68	than	than	ADP
emaj-190	142	69	250	250	NUM
emaj-190	142	70	small	small	ADJ
emaj-190	142	71	.	.	PUNCT
emaj-190	143	1	our	our	PRON
emaj-190	143	2	classification	classification	NOUN
emaj-190	143	3	of	of	ADP
emaj-190	143	4	large	large	ADJ
emaj-190	143	5	firms	firm	NOUN
emaj-190	143	6	is	be	AUX
emaj-190	143	7	approximately	approximately	ADV
emaj-190	143	8	the	the	DET
emaj-190	143	9	same	same	ADJ
emaj-190	143	10	as	as	ADP
emaj-190	143	11	that	that	PRON
emaj-190	143	12	of	of	ADP
emaj-190	143	13	cbrt	cbrt	PROPN
emaj-190	143	14	.	.	PUNCT
emaj-190	144	1	volume	volume	NOUN
emaj-190	144	2	10	10	NUM
emaj-190	145	1	no	no	DET
emaj-190	145	2	1	1	NUM
emaj-190	145	3	(	(	PUNCT
emaj-190	145	4	2020	2020	NUM
emaj-190	145	5	)	)	PUNCT
emaj-190	145	6	|	|	ADV
emaj-190	145	7	issn	issn	VERB
emaj-190	145	8	2158	2158	NUM
emaj-190	145	9	-	-	SYM
emaj-190	145	10	8708	8708	NUM
emaj-190	145	11	(	(	PUNCT
emaj-190	145	12	online	online	NOUN
emaj-190	145	13	)	)	PUNCT
emaj-190	145	14	|	|	ADV
emaj-190	145	15	doi	doi	X
emaj-190	145	16	10.5195	10.5195	NUM
emaj-190	145	17	/	/	SYM
emaj-190	145	18	emaj.2020.190	emaj.2020.190	NOUN
emaj-190	145	19	|	|	NOUN
emaj-190	145	20	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	145	21	bahadır	bahadır	NOUN
emaj-190	145	22	karakoç	karakoç	VERB
emaj-190	145	23	emerging	emerge	VERB
emaj-190	145	24	markets	market	NOUN
emaj-190	145	25	journal	journal	NOUN
emaj-190	146	1	|	|	ADV
emaj-190	146	2	p	p	NOUN
emaj-190	146	3	a	a	DET
emaj-190	146	4	g	g	NOUN
emaj-190	146	5	e	e	PROPN
emaj-190	146	6	|35	|35	PROPN
emaj-190	146	7	firm	firm	ADJ
emaj-190	146	8	size11	size11	NOUN
emaj-190	146	9	is	be	AUX
emaj-190	146	10	determined	determine	VERB
emaj-190	146	11	as	as	ADP
emaj-190	146	12	the	the	DET
emaj-190	146	13	main	main	ADJ
emaj-190	146	14	criterion	criterion	NOUN
emaj-190	146	15	to	to	PART
emaj-190	146	16	classify	classify	VERB
emaj-190	146	17	firms	firm	NOUN
emaj-190	146	18	based	base	VERB
emaj-190	146	19	on	on	ADP
emaj-190	146	20	the	the	DET
emaj-190	146	21	strength	strength	NOUN
emaj-190	146	22	of	of	ADP
emaj-190	146	23	their	their	PRON
emaj-190	146	24	access	access	NOUN
emaj-190	146	25	to	to	ADP
emaj-190	146	26	external	external	ADJ
emaj-190	146	27	funding	funding	NOUN
emaj-190	146	28	,	,	PUNCT
emaj-190	146	29	as	as	SCONJ
emaj-190	146	30	explained	explain	VERB
emaj-190	146	31	in	in	ADP
emaj-190	146	32	section	section	NOUN
emaj-190	146	33	i.	i.	NOUN
emaj-190	146	34	firms	firm	NOUN
emaj-190	146	35	are	be	AUX
emaj-190	146	36	also	also	ADV
emaj-190	146	37	separated	separate	VERB
emaj-190	146	38	based	base	VERB
emaj-190	146	39	on	on	ADP
emaj-190	146	40	ownership	ownership	NOUN
emaj-190	146	41	structure12	structure12	NOUN
emaj-190	146	42	,	,	PUNCT
emaj-190	146	43	public	public	ADJ
emaj-190	146	44	and	and	CCONJ
emaj-190	146	45	privates	private	NOUN
emaj-190	146	46	firms	firm	NOUN
emaj-190	146	47	.	.	PUNCT
emaj-190	147	1	table	table	NOUN
emaj-190	147	2	1	1	NUM
emaj-190	147	3	presents	present	VERB
emaj-190	147	4	descriptive	descriptive	ADJ
emaj-190	147	5	statistics	statistic	NOUN
emaj-190	147	6	of	of	ADP
emaj-190	147	7	the	the	DET
emaj-190	147	8	data	datum	NOUN
emaj-190	147	9	used	use	VERB
emaj-190	147	10	in	in	ADP
emaj-190	147	11	the	the	DET
emaj-190	147	12	analysis	analysis	NOUN
emaj-190	147	13	.	.	PUNCT
emaj-190	148	1	it	it	PRON
emaj-190	148	2	includes	include	VERB
emaj-190	148	3	a	a	DET
emaj-190	148	4	wide	wide	ADJ
emaj-190	148	5	range	range	NOUN
emaj-190	148	6	of	of	ADP
emaj-190	148	7	firms	firm	NOUN
emaj-190	148	8	from	from	ADP
emaj-190	148	9	various	various	ADJ
emaj-190	148	10	sectors	sector	NOUN
emaj-190	148	11	,	,	PUNCT
emaj-190	148	12	and	and	CCONJ
emaj-190	148	13	descriptive	descriptive	ADJ
emaj-190	148	14	statistics	statistic	NOUN
emaj-190	148	15	document	document	NOUN
emaj-190	148	16	that	that	SCONJ
emaj-190	148	17	variation	variation	NOUN
emaj-190	148	18	,	,	PUNCT
emaj-190	148	19	which	which	PRON
emaj-190	148	20	considerably	considerably	ADV
emaj-190	148	21	contributes	contribute	VERB
emaj-190	148	22	to	to	ADP
emaj-190	148	23	the	the	DET
emaj-190	148	24	efficiency	efficiency	NOUN
emaj-190	148	25	of	of	ADP
emaj-190	148	26	analysis	analysis	NOUN
emaj-190	148	27	.	.	PUNCT
emaj-190	149	1	the	the	DET
emaj-190	149	2	data	datum	NOUN
emaj-190	149	3	set	set	VERB
emaj-190	149	4	is	be	AUX
emaj-190	149	5	21	21	NUM
emaj-190	149	6	years	year	NOUN
emaj-190	149	7	of	of	ADP
emaj-190	149	8	annual	annual	ADJ
emaj-190	149	9	data	datum	NOUN
emaj-190	149	10	,	,	PUNCT
emaj-190	149	11	from	from	ADP
emaj-190	149	12	1996	1996	NUM
emaj-190	149	13	to	to	ADP
emaj-190	149	14	2016	2016	NUM
emaj-190	149	15	,	,	PUNCT
emaj-190	149	16	during	during	ADP
emaj-190	149	17	which	which	DET
emaj-190	149	18	time	time	NOUN
emaj-190	149	19	turkish	turkish	ADJ
emaj-190	149	20	economy	economy	NOUN
emaj-190	149	21	has	have	AUX
emaj-190	149	22	suffered	suffer	VERB
emaj-190	149	23	both	both	DET
emaj-190	149	24	2001	2001	NUM
emaj-190	149	25	currency	currency	NOUN
emaj-190	149	26	crisis	crisis	NOUN
emaj-190	149	27	and	and	CCONJ
emaj-190	149	28	2008	2008	NUM
emaj-190	149	29	mortgage	mortgage	NOUN
emaj-190	149	30	crisis	crisis	NOUN
emaj-190	149	31	and	and	CCONJ
emaj-190	149	32	hosted	host	VERB
emaj-190	149	33	large	large	ADJ
emaj-190	149	34	volume	volume	NOUN
emaj-190	149	35	of	of	ADP
emaj-190	149	36	fc	fc	PROPN
emaj-190	149	37	.	.	PUNCT
emaj-190	150	1	starting	start	VERB
emaj-190	150	2	from	from	ADP
emaj-190	150	3	2004	2004	NUM
emaj-190	150	4	,	,	PUNCT
emaj-190	150	5	monetary	monetary	ADJ
emaj-190	150	6	authorities	authority	NOUN
emaj-190	150	7	implemented	implement	VERB
emaj-190	150	8	expansionary	expansionary	ADJ
emaj-190	150	9	monetary	monetary	ADJ
emaj-190	150	10	policy	policy	NOUN
emaj-190	150	11	(	(	PUNCT
emaj-190	150	12	mp	mp	PROPN
emaj-190	150	13	)	)	PUNCT
emaj-190	150	14	,	,	PUNCT
emaj-190	150	15	which	which	PRON
emaj-190	150	16	is	be	AUX
emaj-190	150	17	accounted	account	VERB
emaj-190	150	18	via	via	ADP
emaj-190	150	19	a	a	DET
emaj-190	150	20	dummy	dummy	ADJ
emaj-190	150	21	variable	variable	NOUN
emaj-190	150	22	.	.	PUNCT
emaj-190	151	1	the	the	DET
emaj-190	151	2	estimation	estimation	NOUN
emaj-190	151	3	period	period	NOUN
emaj-190	151	4	is	be	AUX
emaj-190	151	5	long	long	ADJ
emaj-190	151	6	enough	enough	ADV
emaj-190	151	7	to	to	PART
emaj-190	151	8	draw	draw	VERB
emaj-190	151	9	reliable	reliable	ADJ
emaj-190	151	10	conclusions	conclusion	NOUN
emaj-190	151	11	.	.	PUNCT
emaj-190	152	1	periods	period	NOUN
emaj-190	152	2	subsequent	subsequent	ADJ
emaj-190	152	3	to	to	ADP
emaj-190	152	4	crisis	crisis	NOUN
emaj-190	152	5	are	be	AUX
emaj-190	152	6	important	important	ADJ
emaj-190	152	7	,	,	PUNCT
emaj-190	152	8	because	because	SCONJ
emaj-190	152	9	those	those	PRON
emaj-190	152	10	are	be	AUX
emaj-190	152	11	the	the	DET
emaj-190	152	12	times	times	PROPN
emaj-190	152	13	cbrt	cbrt	PROPN
emaj-190	152	14	adopted	adopt	VERB
emaj-190	152	15	loose	loose	ADJ
emaj-190	152	16	mp	mp	NOUN
emaj-190	152	17	to	to	PART
emaj-190	152	18	empower	empower	VERB
emaj-190	152	19	the	the	DET
emaj-190	152	20	recovery	recovery	NOUN
emaj-190	152	21	.	.	PUNCT
emaj-190	153	1	in	in	ADP
emaj-190	153	2	fact	fact	NOUN
emaj-190	153	3	,	,	PUNCT
emaj-190	153	4	capital	capital	NOUN
emaj-190	153	5	flow	flow	NOUN
emaj-190	153	6	and	and	CCONJ
emaj-190	153	7	monetary	monetary	ADJ
emaj-190	153	8	expansion	expansion	NOUN
emaj-190	153	9	have	have	AUX
emaj-190	153	10	softened	soften	VERB
emaj-190	153	11	the	the	DET
emaj-190	153	12	credit	credit	NOUN
emaj-190	153	13	conditions	condition	NOUN
emaj-190	153	14	and	and	CCONJ
emaj-190	153	15	caused	cause	VERB
emaj-190	153	16	the	the	DET
emaj-190	153	17	borrowing	borrowing	NOUN
emaj-190	153	18	to	to	PART
emaj-190	153	19	rise	rise	VERB
emaj-190	153	20	.	.	PUNCT
emaj-190	154	1	panel	panel	NOUN
emaj-190	154	2	data	datum	NOUN
emaj-190	154	3	study	study	NOUN
emaj-190	154	4	will	will	AUX
emaj-190	154	5	be	be	AUX
emaj-190	154	6	able	able	ADJ
emaj-190	154	7	to	to	PART
emaj-190	154	8	successfully	successfully	ADV
emaj-190	154	9	capture	capture	VERB
emaj-190	154	10	that	that	DET
emaj-190	154	11	influence	influence	NOUN
emaj-190	154	12	.	.	PUNCT
emaj-190	155	1	clearly	clearly	ADV
emaj-190	155	2	,	,	PUNCT
emaj-190	155	3	the	the	DET
emaj-190	155	4	trends	trend	NOUN
emaj-190	155	5	in	in	ADP
emaj-190	155	6	aggregate	aggregate	ADJ
emaj-190	155	7	data	datum	NOUN
emaj-190	155	8	(	(	PUNCT
emaj-190	155	9	in	in	ADP
emaj-190	155	10	figure	figure	NOUN
emaj-190	155	11	2	2	NUM
emaj-190	155	12	)	)	PUNCT
emaj-190	155	13	suggest	suggest	VERB
emaj-190	155	14	high	high	ADJ
emaj-190	155	15	level	level	NOUN
emaj-190	155	16	of	of	ADP
emaj-190	155	17	dependence	dependence	NOUN
emaj-190	155	18	on	on	ADP
emaj-190	155	19	prevailing	prevail	VERB
emaj-190	155	20	economic	economic	ADJ
emaj-190	155	21	conditions	condition	NOUN
emaj-190	155	22	.	.	PUNCT
emaj-190	156	1	documenting	document	VERB
emaj-190	156	2	such	such	ADJ
emaj-190	156	3	dependence	dependence	NOUN
emaj-190	156	4	next	next	ADV
emaj-190	156	5	to	to	ADP
emaj-190	156	6	other	other	ADJ
emaj-190	156	7	firm	firm	ADJ
emaj-190	156	8	-	-	PUNCT
emaj-190	156	9	specific	specific	ADJ
emaj-190	156	10	variables	variable	NOUN
emaj-190	156	11	is	be	AUX
emaj-190	156	12	an	an	DET
emaj-190	156	13	essential	essential	ADJ
emaj-190	156	14	goal	goal	NOUN
emaj-190	156	15	of	of	ADP
emaj-190	156	16	this	this	DET
emaj-190	156	17	study	study	NOUN
emaj-190	156	18	,	,	PUNCT
emaj-190	156	19	only	only	ADV
emaj-190	156	20	then	then	ADV
emaj-190	156	21	significance	significance	NOUN
emaj-190	156	22	of	of	ADP
emaj-190	156	23	fc	fc	PROPN
emaj-190	156	24	may	may	AUX
emaj-190	156	25	be	be	AUX
emaj-190	156	26	revealed	reveal	VERB
emaj-190	156	27	and	and	CCONJ
emaj-190	156	28	appropriate	appropriate	ADJ
emaj-190	156	29	policy	policy	NOUN
emaj-190	156	30	measures	measure	NOUN
emaj-190	156	31	can	can	AUX
emaj-190	156	32	be	be	AUX
emaj-190	156	33	taken	take	VERB
emaj-190	156	34	for	for	ADP
emaj-190	156	35	future	future	ADJ
emaj-190	156	36	episodes	episode	NOUN
emaj-190	156	37	.	.	PUNCT
emaj-190	157	1	with	with	ADP
emaj-190	157	2	this	this	DET
emaj-190	157	3	objective	objective	NOUN
emaj-190	157	4	in	in	ADP
emaj-190	157	5	mind	mind	NOUN
emaj-190	157	6	,	,	PUNCT
emaj-190	157	7	the	the	DET
emaj-190	157	8	hypothesis	hypothesis	NOUN
emaj-190	157	9	presented	present	VERB
emaj-190	157	10	in	in	ADP
emaj-190	157	11	this	this	DET
emaj-190	157	12	study	study	NOUN
emaj-190	157	13	will	will	AUX
emaj-190	157	14	be	be	AUX
emaj-190	157	15	tested	test	VERB
emaj-190	157	16	via	via	ADP
emaj-190	157	17	unit	unit	NOUN
emaj-190	157	18	fixed	fix	VERB
emaj-190	157	19	effect	effect	NOUN
emaj-190	157	20	regression	regression	NOUN
emaj-190	157	21	analysis	analysis	NOUN
emaj-190	157	22	constructed	construct	VERB
emaj-190	157	23	as	as	ADP
emaj-190	157	24	following	follow	VERB
emaj-190	157	25	.	.	PUNCT
emaj-190	158	1	𝐷𝑒𝑏𝑡𝑖𝑡	𝐷𝑒𝑏𝑡𝑖𝑡	NOUN
emaj-190	158	2	=	=	SYM
emaj-190	158	3	𝛼𝑖	𝛼𝑖	PROPN
emaj-190	158	4	+	+	CCONJ
emaj-190	158	5	𝛽1𝑙𝑖𝑞𝑢𝑖𝑑𝑖𝑡	𝛽1𝑙𝑖𝑞𝑢𝑖𝑑𝑖𝑡	PROPN
emaj-190	158	6	+	+	CCONJ
emaj-190	158	7	𝛽2𝑅𝑂𝐴𝑖𝑡	𝛽2𝑅𝑂𝐴𝑖𝑡	PROPN
emaj-190	158	8	+	+	CCONJ
emaj-190	158	9	𝛽3𝑡𝑎𝑛𝑔𝑖𝑡	𝛽3𝑡𝑎𝑛𝑔𝑖𝑡	ADJ
emaj-190	158	10	+	+	CCONJ
emaj-190	158	11	𝛽4𝐶𝐸𝑖𝑡	𝛽4𝐶𝐸𝑖𝑡	NOUN
emaj-190	158	12	+	+	CCONJ
emaj-190	158	13	𝛽5𝑠𝑖𝑧𝑒𝑖𝑡	𝛽5𝑠𝑖𝑧𝑒𝑖𝑡	ADJ
emaj-190	158	14	+	+	CCONJ
emaj-190	158	15	𝛽6𝑔𝑟𝑡	𝛽6𝑔𝑟𝑡	NUM
emaj-190	158	16	+	+	CCONJ
emaj-190	158	17	𝛽7𝑖𝑛𝑓𝑡	𝛽7𝑖𝑛𝑓𝑡	PROPN
emaj-190	158	18	+	+	NOUN
emaj-190	158	19	𝛽8𝑓𝑐𝑡	𝛽8𝑓𝑐𝑡	PROPN
emaj-190	158	20	+	+	ADJ
emaj-190	158	21	𝛽9	𝛽9	ADJ
emaj-190	158	22	𝐷𝑡	𝐷𝑡	PROPN
emaj-190	158	23	+	+	NOUN
emaj-190	158	24	ɛit	ɛit	NOUN
emaj-190	158	25	where	where	SCONJ
emaj-190	158	26	𝐷𝑒𝑏𝑡𝑖𝑡	𝐷𝑒𝑏𝑡𝑖𝑡	PROPN
emaj-190	158	27	represents	represent	VERB
emaj-190	158	28	bank	bank	NOUN
emaj-190	158	29	loans	loan	NOUN
emaj-190	158	30	and	and	CCONJ
emaj-190	158	31	debt	debt	NOUN
emaj-190	158	32	securities	security	NOUN
emaj-190	158	33	,	,	PUNCT
emaj-190	158	34	𝑙𝑖𝑞𝑢𝑖𝑑𝑖𝑡	𝑙𝑖𝑞𝑢𝑖𝑑𝑖𝑡	PROPN
emaj-190	158	35	is	be	AUX
emaj-190	158	36	cash	cash	NOUN
emaj-190	158	37	plus	plus	CCONJ
emaj-190	158	38	short	short	ADJ
emaj-190	158	39	term	term	NOUN
emaj-190	158	40	investment	investment	NOUN
emaj-190	158	41	plus	plus	CCONJ
emaj-190	158	42	accounts	account	NOUN
emaj-190	158	43	receivable	receivable	ADJ
emaj-190	158	44	,	,	PUNCT
emaj-190	158	45	𝑅𝑂𝐴𝑖𝑡	𝑅𝑂𝐴𝑖𝑡	X
emaj-190	158	46	is	be	AUX
emaj-190	158	47	the	the	DET
emaj-190	158	48	operating	operating	NOUN
emaj-190	158	49	profit	profit	NOUN
emaj-190	158	50	,	,	PUNCT
emaj-190	158	51	𝑡𝑎𝑛𝑔𝑖𝑡	𝑡𝑎𝑛𝑔𝑖𝑡	ADJ
emaj-190	158	52	is	be	AUX
emaj-190	158	53	tangible	tangible	ADJ
emaj-190	158	54	assets	asset	NOUN
emaj-190	158	55	,	,	PUNCT
emaj-190	158	56	𝐶𝐸𝑖𝑡	𝐶𝐸𝑖𝑡	PROPN
emaj-190	158	57	is	be	AUX
emaj-190	158	58	common	common	ADJ
emaj-190	158	59	equity	equity	NOUN
emaj-190	158	60	,	,	PUNCT
emaj-190	158	61	all	all	DET
emaj-190	158	62	firm	firm	ADJ
emaj-190	158	63	specific	specific	ADJ
emaj-190	158	64	variables	variable	NOUN
emaj-190	158	65	are	be	AUX
emaj-190	158	66	scaled	scale	VERB
emaj-190	158	67	by	by	ADP
emaj-190	158	68	total	total	ADJ
emaj-190	158	69	assets	asset	NOUN
emaj-190	158	70	and	and	CCONJ
emaj-190	158	71	size	size	NOUN
emaj-190	158	72	is	be	AUX
emaj-190	158	73	logarithm	logarithm	NOUN
emaj-190	158	74	of	of	ADP
emaj-190	158	75	total	total	ADJ
emaj-190	158	76	assets	asset	NOUN
emaj-190	158	77	.	.	PUNCT
emaj-190	159	1	𝑔𝑟𝑡	𝑔𝑟𝑡	PROPN
emaj-190	159	2	represents	represent	VERB
emaj-190	159	3	yearly	yearly	ADJ
emaj-190	159	4	growth	growth	NOUN
emaj-190	159	5	in	in	ADP
emaj-190	159	6	real	real	ADJ
emaj-190	159	7	gdp	gdp	NOUN
emaj-190	159	8	,	,	PUNCT
emaj-190	159	9	𝑖𝑛𝑓𝑡	𝑖𝑛𝑓𝑡	PROPN
emaj-190	159	10	stands	stand	VERB
emaj-190	159	11	for	for	ADP
emaj-190	159	12	inflation	inflation	NOUN
emaj-190	159	13	and	and	CCONJ
emaj-190	159	14	𝑓𝑐𝑡	𝑓𝑐𝑡	NOUN
emaj-190	159	15	𝑖𝑠	𝑖𝑠	PROPN
emaj-190	159	16	fc	fc	PROPN
emaj-190	159	17	minus	minus	CCONJ
emaj-190	159	18	direct	direct	ADJ
emaj-190	159	19	corporate	corporate	ADJ
emaj-190	159	20	borrowing	borrowing	NOUN
emaj-190	159	21	divided	divide	VERB
emaj-190	159	22	by	by	ADP
emaj-190	159	23	gdp	gdp	NOUN
emaj-190	159	24	.	.	PUNCT
emaj-190	160	1	𝐷𝑡	𝐷𝑡	PROPN
emaj-190	160	2	is	be	AUX
emaj-190	160	3	the	the	DET
emaj-190	160	4	dummy	dummy	ADJ
emaj-190	160	5	variable	variable	NOUN
emaj-190	160	6	for	for	ADP
emaj-190	160	7	mp	mp	PROPN
emaj-190	160	8	and	and	CCONJ
emaj-190	160	9	constructed	construct	VERB
emaj-190	160	10	as	as	ADP
emaj-190	160	11	following	follow	VERB
emaj-190	160	12	.	.	PUNCT
emaj-190	161	1	𝐷	𝐷	NOUN
emaj-190	161	2	=	=	NOUN
emaj-190	161	3	0	0	NUM
emaj-190	161	4	,	,	PUNCT
emaj-190	161	5	𝑖𝑓	𝑖𝑓	NUM
emaj-190	162	1	𝑡	𝑡	PROPN
emaj-190	162	2	=	=	SYM
emaj-190	162	3	1996	1996	NUM
emaj-190	162	4	-	-	SYM
emaj-190	162	5	2004	2004	NUM
emaj-190	162	6	,	,	PUNCT
emaj-190	162	7	2008	2008	NUM
emaj-190	162	8	-	-	SYM
emaj-190	162	9	2009	2009	NUM
emaj-190	162	10	and	and	CCONJ
emaj-190	162	11	20152016=0	20152016=0	NOUN
emaj-190	162	12	;	;	PUNCT
emaj-190	162	13	𝐷	𝐷	NOUN
emaj-190	162	14	=	=	SYM
emaj-190	162	15	1	1	NUM
emaj-190	162	16	𝑖𝑓	𝑖𝑓	NUM
emaj-190	162	17	𝑡	𝑡	PROPN
emaj-190	162	18	=	=	VERB
emaj-190	162	19	2005	2005	NUM
emaj-190	162	20	-	-	SYM
emaj-190	162	21	2014	2014	NUM
emaj-190	162	22	dummy	dummy	ADJ
emaj-190	162	23	variable	variable	NOUN
emaj-190	162	24	takes	take	VERB
emaj-190	162	25	reporting	reporting	NOUN
emaj-190	162	26	periods	period	NOUN
emaj-190	162	27	into	into	ADP
emaj-190	162	28	consideration	consideration	NOUN
emaj-190	162	29	.	.	PUNCT
emaj-190	163	1	for	for	ADP
emaj-190	163	2	instance	instance	NOUN
emaj-190	163	3	the	the	DET
emaj-190	163	4	mortgage	mortgage	NOUN
emaj-190	163	5	crisis	crisis	NOUN
emaj-190	163	6	took	take	VERB
emaj-190	163	7	place	place	NOUN
emaj-190	163	8	in	in	ADP
emaj-190	163	9	2008	2008	NUM
emaj-190	163	10	;	;	PUNCT
emaj-190	163	11	however	however	ADV
emaj-190	163	12	its	its	PRON
emaj-190	163	13	effect	effect	NOUN
emaj-190	163	14	on	on	ADP
emaj-190	163	15	balance	balance	NOUN
emaj-190	163	16	sheets	sheet	NOUN
emaj-190	163	17	is	be	AUX
emaj-190	163	18	observable	observable	ADJ
emaj-190	163	19	in	in	ADP
emaj-190	163	20	the	the	DET
emaj-190	163	21	next	next	ADJ
emaj-190	163	22	reporting	reporting	NOUN
emaj-190	163	23	period	period	NOUN
emaj-190	163	24	,	,	PUNCT
emaj-190	163	25	in	in	ADP
emaj-190	163	26	2009	2009	NUM
emaj-190	163	27	.	.	PUNCT
emaj-190	164	1	figure	figure	NOUN
emaj-190	164	2	2	2	NUM
emaj-190	164	3	for	for	ADP
emaj-190	164	4	aggregate	aggregate	ADJ
emaj-190	164	5	data	datum	NOUN
emaj-190	164	6	supports	support	VERB
emaj-190	164	7	this	this	DET
emaj-190	164	8	insight	insight	NOUN
emaj-190	164	9	.	.	PUNCT
emaj-190	165	1	similarly	similarly	ADV
emaj-190	165	2	,	,	PUNCT
emaj-190	165	3	2005	2005	NUM
emaj-190	165	4	is	be	AUX
emaj-190	165	5	assumed	assume	VERB
emaj-190	165	6	to	to	PART
emaj-190	165	7	be	be	AUX
emaj-190	165	8	the	the	DET
emaj-190	165	9	starting	starting	NOUN
emaj-190	165	10	date	date	NOUN
emaj-190	165	11	of	of	ADP
emaj-190	165	12	monetary	monetary	ADJ
emaj-190	165	13	expansion	expansion	NOUN
emaj-190	165	14	.	.	PUNCT
emaj-190	166	1	expansionary	expansionary	ADJ
emaj-190	166	2	policy	policy	NOUN
emaj-190	166	3	has	have	AUX
emaj-190	166	4	been	be	AUX
emaj-190	166	5	disrupted	disrupt	VERB
emaj-190	166	6	after	after	ADP
emaj-190	166	7	2014	2014	NUM
emaj-190	166	8	because	because	SCONJ
emaj-190	166	9	of	of	ADP
emaj-190	166	10	increases	increase	NOUN
emaj-190	166	11	in	in	ADP
emaj-190	166	12	interest	interest	NOUN
emaj-190	166	13	rates	rate	NOUN
emaj-190	166	14	following	follow	VERB
emaj-190	166	15	fluctuations	fluctuation	NOUN
emaj-190	166	16	in	in	ADP
emaj-190	166	17	exchange	exchange	NOUN
emaj-190	166	18	rates	rate	NOUN
emaj-190	166	19	.	.	PUNCT
emaj-190	167	1	since	since	SCONJ
emaj-190	167	2	the	the	DET
emaj-190	167	3	rise	rise	NOUN
emaj-190	167	4	in	in	ADP
emaj-190	167	5	capital	capital	NOUN
emaj-190	167	6	inflow	inflow	NOUN
emaj-190	167	7	coincides	coincide	VERB
emaj-190	167	8	with	with	ADP
emaj-190	167	9	these	these	DET
emaj-190	167	10	dates	date	NOUN
emaj-190	167	11	,	,	PUNCT
emaj-190	167	12	it	it	PRON
emaj-190	167	13	will	will	AUX
emaj-190	167	14	also	also	ADV
emaj-190	167	15	11see	11see	VERB
emaj-190	167	16	for	for	ADP
emaj-190	167	17	example	example	NOUN
emaj-190	167	18	bernanke	bernanke	PROPN
emaj-190	167	19	et	et	PROPN
emaj-190	167	20	al	al	PROPN
emaj-190	167	21	.	.	PROPN
emaj-190	168	1	(	(	PUNCT
emaj-190	168	2	1996	1996	NUM
emaj-190	168	3	)	)	PUNCT
emaj-190	168	4	;	;	PUNCT
emaj-190	168	5	gertler	gertler	NOUN
emaj-190	168	6	&	&	CCONJ
emaj-190	168	7	gilchrist	gilchrist	PROPN
emaj-190	168	8	(	(	PUNCT
emaj-190	168	9	1994	1994	NUM
emaj-190	168	10	)	)	PUNCT
emaj-190	168	11	;	;	PUNCT
emaj-190	168	12	kashyap	kashyap	PROPN
emaj-190	168	13	et	et	PROPN
emaj-190	168	14	al	al	PROPN
emaj-190	168	15	.	.	PROPN
emaj-190	169	1	(	(	PUNCT
emaj-190	169	2	1993	1993	NUM
emaj-190	169	3	)	)	PUNCT
emaj-190	169	4	.	.	PUNCT
emaj-190	170	1	12also	12also	PUNCT
emaj-190	170	2	see	see	VERB
emaj-190	170	3	abdulla	abdulla	PROPN
emaj-190	170	4	et	et	PROPN
emaj-190	170	5	al	al	PROPN
emaj-190	170	6	.	.	PUNCT
emaj-190	171	1	(	(	PUNCT
emaj-190	171	2	2016	2016	NUM
emaj-190	171	3	)	)	PUNCT
emaj-190	171	4	;	;	PUNCT
emaj-190	171	5	schenone	schenone	PROPN
emaj-190	171	6	,	,	PUNCT
emaj-190	171	7	(	(	PUNCT
emaj-190	171	8	2010	2010	NUM
emaj-190	171	9	)	)	PUNCT
emaj-190	171	10	;	;	PUNCT
emaj-190	172	1	demiroğlu	demiroğlu	VERB
emaj-190	172	2	et	et	PROPN
emaj-190	172	3	al	al	PROPN
emaj-190	172	4	.	.	PROPN
emaj-190	173	1	(	(	PUNCT
emaj-190	173	2	2012	2012	NUM
emaj-190	173	3	)	)	PUNCT
emaj-190	173	4	;	;	PUNCT
emaj-190	173	5	farre	farre	PROPN
emaj-190	173	6	-	-	PUNCT
emaj-190	173	7	mensa	mensa	PROPN
emaj-190	173	8	&	&	CCONJ
emaj-190	173	9	ljungqvist	ljungqvist	NOUN
emaj-190	173	10	,	,	PUNCT
emaj-190	173	11	(	(	PUNCT
emaj-190	173	12	2016	2016	NUM
emaj-190	173	13	)	)	PUNCT
emaj-190	173	14	.	.	PUNCT
emaj-190	174	1	serve	serve	VERB
emaj-190	174	2	to	to	PART
emaj-190	174	3	isolate	isolate	VERB
emaj-190	174	4	the	the	DET
emaj-190	174	5	influence	influence	NOUN
emaj-190	174	6	of	of	ADP
emaj-190	174	7	mp	mp	NOUN
emaj-190	174	8	and	and	CCONJ
emaj-190	174	9	document	document	VERB
emaj-190	174	10	true	true	ADJ
emaj-190	174	11	impact	impact	NOUN
emaj-190	174	12	of	of	ADP
emaj-190	174	13	fc	fc	PROPN
emaj-190	174	14	on	on	ADP
emaj-190	174	15	borrowing	borrowing	NOUN
emaj-190	174	16	activity	activity	NOUN
emaj-190	174	17	.	.	PUNCT
emaj-190	175	1	real	real	ADJ
emaj-190	175	2	gdp	gdp	NOUN
emaj-190	175	3	growth	growth	NOUN
emaj-190	175	4	and	and	CCONJ
emaj-190	175	5	inflation	inflation	NOUN
emaj-190	175	6	are	be	AUX
emaj-190	175	7	included	include	VERB
emaj-190	175	8	to	to	PART
emaj-190	175	9	make	make	VERB
emaj-190	175	10	sure	sure	ADJ
emaj-190	175	11	that	that	SCONJ
emaj-190	175	12	main	main	ADJ
emaj-190	175	13	variable	variable	NOUN
emaj-190	175	14	of	of	ADP
emaj-190	175	15	interest	interest	NOUN
emaj-190	175	16	is	be	AUX
emaj-190	175	17	not	not	PART
emaj-190	175	18	picking	pick	VERB
emaj-190	175	19	up	up	ADP
emaj-190	175	20	their	their	PRON
emaj-190	175	21	effect	effect	NOUN
emaj-190	175	22	.	.	PUNCT
emaj-190	176	1	fc	fc	PROPN
emaj-190	176	2	data	datum	NOUN
emaj-190	176	3	are	be	AUX
emaj-190	176	4	obtained	obtain	VERB
emaj-190	176	5	from	from	ADP
emaj-190	176	6	cbrt	cbrt	PROPN
emaj-190	176	7	international	international	ADJ
emaj-190	176	8	investment	investment	NOUN
emaj-190	176	9	position	position	NOUN
emaj-190	176	10	data	datum	NOUN
emaj-190	176	11	,	,	PUNCT
emaj-190	176	12	values	value	NOUN
emaj-190	176	13	of	of	ADP
emaj-190	176	14	direct	direct	ADJ
emaj-190	176	15	corporate	corporate	ADJ
emaj-190	176	16	borrowings	borrowing	NOUN
emaj-190	176	17	are	be	AUX
emaj-190	176	18	excluded	exclude	VERB
emaj-190	176	19	from	from	ADP
emaj-190	176	20	total	total	ADJ
emaj-190	176	21	fc	fc	PROPN
emaj-190	176	22	and	and	CCONJ
emaj-190	176	23	final	final	ADJ
emaj-190	176	24	sum	sum	NOUN
emaj-190	176	25	divided	divide	VERB
emaj-190	176	26	by	by	ADP
emaj-190	176	27	gdp	gdp	NOUN
emaj-190	176	28	.	.	PUNCT
emaj-190	177	1	thus	thus	ADV
emaj-190	177	2	it	it	PRON
emaj-190	177	3	is	be	AUX
emaj-190	177	4	composed	compose	VERB
emaj-190	177	5	of	of	ADP
emaj-190	177	6	foreign	foreign	ADJ
emaj-190	177	7	direct	direct	ADJ
emaj-190	177	8	investment	investment	NOUN
emaj-190	177	9	plus	plus	CCONJ
emaj-190	177	10	foreign	foreign	ADJ
emaj-190	177	11	portfolio	portfolio	NOUN
emaj-190	177	12	investment	investment	NOUN
emaj-190	177	13	plus	plus	CCONJ
emaj-190	177	14	other	other	ADJ
emaj-190	177	15	investment	investment	NOUN
emaj-190	177	16	minus	minus	ADP
emaj-190	177	17	direct	direct	ADJ
emaj-190	177	18	corporate	corporate	ADJ
emaj-190	177	19	borrowings	borrowing	NOUN
emaj-190	177	20	(	(	PUNCT
emaj-190	177	21	loans	loan	NOUN
emaj-190	177	22	and	and	CCONJ
emaj-190	177	23	debt	debt	NOUN
emaj-190	177	24	securities	security	NOUN
emaj-190	177	25	)	)	PUNCT
emaj-190	177	26	and	and	CCONJ
emaj-190	177	27	divided	divide	VERB
emaj-190	177	28	by	by	ADP
emaj-190	177	29	gdp	gdp	PROPN
emaj-190	177	30	.	.	PUNCT
emaj-190	178	1	empirical	empirical	ADJ
emaj-190	178	2	findings	finding	NOUN
emaj-190	178	3	tables	table	NOUN
emaj-190	178	4	2	2	NUM
emaj-190	178	5	,	,	PUNCT
emaj-190	178	6	3	3	NUM
emaj-190	178	7	and	and	CCONJ
emaj-190	178	8	4	4	NUM
emaj-190	178	9	below	below	ADP
emaj-190	178	10	present	present	NOUN
emaj-190	178	11	the	the	DET
emaj-190	178	12	results	result	NOUN
emaj-190	178	13	from	from	ADP
emaj-190	178	14	firm	firm	ADJ
emaj-190	178	15	fixed	fix	VERB
emaj-190	178	16	effect	effect	NOUN
emaj-190	178	17	panel	panel	NOUN
emaj-190	178	18	data	datum	NOUN
emaj-190	178	19	estimations	estimation	NOUN
emaj-190	178	20	.	.	PUNCT
emaj-190	179	1	all	all	DET
emaj-190	179	2	standard	standard	ADJ
emaj-190	179	3	errors	error	NOUN
emaj-190	179	4	are	be	AUX
emaj-190	179	5	robust	robust	ADJ
emaj-190	179	6	to	to	ADP
emaj-190	179	7	heteroscedasticity	heteroscedasticity	NOUN
emaj-190	179	8	and	and	CCONJ
emaj-190	179	9	autocorrelation	autocorrelation	NOUN
emaj-190	179	10	,	,	PUNCT
emaj-190	179	11	and	and	CCONJ
emaj-190	179	12	p	p	X
emaj-190	179	13	-	-	PUNCT
emaj-190	179	14	values	value	NOUN
emaj-190	179	15	are	be	AUX
emaj-190	179	16	in	in	ADP
emaj-190	179	17	parentheses	parenthesis	NOUN
emaj-190	179	18	.	.	PUNCT
emaj-190	180	1	one	one	NUM
emaj-190	180	2	of	of	ADP
emaj-190	180	3	the	the	DET
emaj-190	180	4	goals	goal	NOUN
emaj-190	180	5	of	of	ADP
emaj-190	180	6	the	the	DET
emaj-190	180	7	study	study	NOUN
emaj-190	180	8	is	be	AUX
emaj-190	180	9	to	to	PART
emaj-190	180	10	examine	examine	VERB
emaj-190	180	11	the	the	DET
emaj-190	180	12	effect	effect	NOUN
emaj-190	180	13	of	of	ADP
emaj-190	180	14	rising	rise	VERB
emaj-190	180	15	fc	fc	PROPN
emaj-190	180	16	inflow	inflow	NOUN
emaj-190	180	17	since	since	SCONJ
emaj-190	180	18	early	early	ADJ
emaj-190	180	19	2000s	2000s	NUM
emaj-190	180	20	;	;	PUNCT
emaj-190	180	21	therefore	therefore	ADV
emaj-190	180	22	estimations	estimation	NOUN
emaj-190	180	23	are	be	AUX
emaj-190	180	24	conducted	conduct	VERB
emaj-190	180	25	for	for	ADP
emaj-190	180	26	various	various	ADJ
emaj-190	180	27	periods	period	NOUN
emaj-190	180	28	such	such	ADJ
emaj-190	180	29	as	as	ADP
emaj-190	180	30	1996	1996	NUM
emaj-190	180	31	-	-	SYM
emaj-190	180	32	2016	2016	NUM
emaj-190	180	33	,	,	PUNCT
emaj-190	180	34	19962002	19962002	NUM
emaj-190	180	35	,	,	PUNCT
emaj-190	180	36	and	and	CCONJ
emaj-190	180	37	2003	2003	NUM
emaj-190	180	38	-	-	SYM
emaj-190	180	39	2016	2016	NUM
emaj-190	180	40	.	.	PUNCT
emaj-190	181	1	table	table	NOUN
emaj-190	181	2	2	2	NUM
emaj-190	181	3	,	,	PUNCT
emaj-190	181	4	left	leave	VERB
emaj-190	181	5	and	and	CCONJ
emaj-190	181	6	right	right	ADJ
emaj-190	181	7	hand	hand	NOUN
emaj-190	181	8	sides	side	NOUN
emaj-190	181	9	present	present	VERB
emaj-190	181	10	the	the	DET
emaj-190	181	11	results	result	NOUN
emaj-190	181	12	for	for	ADP
emaj-190	181	13	small	small	ADJ
emaj-190	181	14	and	and	CCONJ
emaj-190	181	15	medium	medium	ADJ
emaj-190	181	16	sized	sized	ADJ
emaj-190	181	17	firms	firm	NOUN
emaj-190	181	18	,	,	PUNCT
emaj-190	181	19	respectively	respectively	ADV
emaj-190	181	20	.	.	PUNCT
emaj-190	182	1	the	the	DET
emaj-190	182	2	coefficients	coefficient	NOUN
emaj-190	182	3	for	for	ADP
emaj-190	182	4	fc	fc	PROPN
emaj-190	182	5	in	in	ADP
emaj-190	182	6	case	case	NOUN
emaj-190	182	7	of	of	ADP
emaj-190	182	8	both	both	DET
emaj-190	182	9	groups	group	NOUN
emaj-190	182	10	are	be	AUX
emaj-190	182	11	significant	significant	ADJ
emaj-190	182	12	for	for	ADP
emaj-190	182	13	the	the	DET
emaj-190	182	14	first	first	ADJ
emaj-190	182	15	and	and	CCONJ
emaj-190	182	16	third	third	ADJ
emaj-190	182	17	periods	period	NOUN
emaj-190	182	18	and	and	CCONJ
emaj-190	182	19	insignificant	insignificant	ADJ
emaj-190	182	20	for	for	ADP
emaj-190	182	21	1996	1996	NUM
emaj-190	182	22	-	-	SYM
emaj-190	182	23	2003	2003	NUM
emaj-190	182	24	,	,	PUNCT
emaj-190	182	25	pointing	point	VERB
emaj-190	182	26	to	to	ADP
emaj-190	182	27	the	the	DET
emaj-190	182	28	positive	positive	ADJ
emaj-190	182	29	effect	effect	NOUN
emaj-190	182	30	of	of	ADP
emaj-190	182	31	fc	fc	PROPN
emaj-190	182	32	on	on	ADP
emaj-190	182	33	borrowing	borrow	VERB
emaj-190	182	34	at	at	ADP
emaj-190	182	35	the	the	DET
emaj-190	182	36	time	time	NOUN
emaj-190	182	37	of	of	ADP
emaj-190	182	38	its	its	PRON
emaj-190	182	39	rising	rise	VERB
emaj-190	182	40	when	when	SCONJ
emaj-190	182	41	considering	consider	VERB
emaj-190	182	42	full	full	ADJ
emaj-190	182	43	period	period	NOUN
emaj-190	182	44	,	,	PUNCT
emaj-190	182	45	both	both	CCONJ
emaj-190	182	46	fc	fc	PROPN
emaj-190	182	47	and	and	CCONJ
emaj-190	182	48	mp	mp	PROPN
emaj-190	182	49	are	be	AUX
emaj-190	182	50	positively	positively	ADV
emaj-190	182	51	and	and	CCONJ
emaj-190	182	52	significantly	significantly	ADV
emaj-190	182	53	related	relate	VERB
emaj-190	182	54	to	to	ADP
emaj-190	182	55	borrowing	borrowing	NOUN
emaj-190	182	56	decision	decision	NOUN
emaj-190	182	57	,	,	PUNCT
emaj-190	182	58	in	in	ADP
emaj-190	182	59	other	other	ADJ
emaj-190	182	60	words	word	NOUN
emaj-190	182	61	they	they	PRON
emaj-190	182	62	contribute	contribute	VERB
emaj-190	182	63	to	to	ADP
emaj-190	182	64	borrowing	borrowing	NOUN
emaj-190	182	65	process	process	NOUN
emaj-190	182	66	of	of	ADP
emaj-190	182	67	financially	financially	ADV
emaj-190	182	68	challenged	challenge	VERB
emaj-190	182	69	smes	sme	NOUN
emaj-190	182	70	.	.	PUNCT
emaj-190	183	1	the	the	DET
emaj-190	183	2	estimation	estimation	NOUN
emaj-190	183	3	for	for	ADP
emaj-190	183	4	2003	2003	NUM
emaj-190	183	5	-	-	SYM
emaj-190	183	6	2016	2016	NUM
emaj-190	183	7	repeated	repeat	VERB
emaj-190	183	8	3	3	NUM
emaj-190	183	9	times	time	NOUN
emaj-190	183	10	to	to	PART
emaj-190	183	11	include	include	VERB
emaj-190	183	12	one	one	NUM
emaj-190	183	13	year	year	NOUN
emaj-190	183	14	lagged	lag	VERB
emaj-190	183	15	fc	fc	PROPN
emaj-190	183	16	and	and	CCONJ
emaj-190	183	17	in	in	ADP
emaj-190	183	18	the	the	DET
emaj-190	183	19	second	second	ADJ
emaj-190	183	20	estimation	estimation	NOUN
emaj-190	183	21	fc	fc	PROPN
emaj-190	183	22	is	be	AUX
emaj-190	183	23	excluded	exclude	VERB
emaj-190	183	24	to	to	PART
emaj-190	183	25	isolate	isolate	VERB
emaj-190	183	26	the	the	DET
emaj-190	183	27	effect	effect	NOUN
emaj-190	183	28	of	of	ADP
emaj-190	183	29	mp	mp	PROPN
emaj-190	183	30	.	.	PUNCT
emaj-190	184	1	it	it	PRON
emaj-190	184	2	shows	show	VERB
emaj-190	184	3	that	that	SCONJ
emaj-190	184	4	both	both	CCONJ
emaj-190	184	5	present	present	ADJ
emaj-190	184	6	and	and	CCONJ
emaj-190	184	7	one	one	NUM
emaj-190	184	8	year	year	NOUN
emaj-190	184	9	lagged	lag	VERB
emaj-190	184	10	fc	fc	PROPN
emaj-190	184	11	is	be	AUX
emaj-190	184	12	significantly	significantly	ADV
emaj-190	184	13	and	and	CCONJ
emaj-190	184	14	positively	positively	ADV
emaj-190	184	15	influencing	influence	VERB
emaj-190	184	16	leverage	leverage	NOUN
emaj-190	184	17	decision	decision	NOUN
emaj-190	184	18	of	of	ADP
emaj-190	184	19	smes	sme	NOUN
emaj-190	184	20	.	.	PUNCT
emaj-190	185	1	the	the	DET
emaj-190	185	2	estimation	estimation	NOUN
emaj-190	185	3	without	without	ADP
emaj-190	185	4	fc	fc	PROPN
emaj-190	185	5	yields	yield	VERB
emaj-190	185	6	negligible	negligible	ADJ
emaj-190	185	7	differences	difference	NOUN
emaj-190	185	8	in	in	ADP
emaj-190	185	9	marginal	marginal	ADJ
emaj-190	185	10	effect	effect	NOUN
emaj-190	185	11	of	of	ADP
emaj-190	185	12	mp	mp	PROPN
emaj-190	185	13	.	.	PROPN
emaj-190	186	1	previous	previous	ADJ
emaj-190	186	2	studies	study	NOUN
emaj-190	186	3	,	,	PUNCT
emaj-190	186	4	mentioned	mention	VERB
emaj-190	186	5	above	above	ADV
emaj-190	186	6	,	,	PUNCT
emaj-190	186	7	offer	offer	VERB
emaj-190	186	8	an	an	DET
emaj-190	186	9	explanation	explanation	NOUN
emaj-190	186	10	that	that	PRON
emaj-190	186	11	eased	ease	VERB
emaj-190	186	12	borrowing	borrowing	NOUN
emaj-190	186	13	process	process	NOUN
emaj-190	186	14	may	may	AUX
emaj-190	186	15	be	be	AUX
emaj-190	186	16	achieved	achieve	VERB
emaj-190	186	17	via	via	ADP
emaj-190	186	18	rising	rise	VERB
emaj-190	186	19	credit	credit	NOUN
emaj-190	186	20	supply	supply	NOUN
emaj-190	186	21	fueled	fuel	VERB
emaj-190	186	22	with	with	ADP
emaj-190	186	23	fc	fc	PROPN
emaj-190	186	24	and	and	CCONJ
emaj-190	186	25	supported	support	VERB
emaj-190	186	26	by	by	ADP
emaj-190	186	27	expansionary	expansionary	ADJ
emaj-190	186	28	domestic	domestic	ADJ
emaj-190	186	29	mp	mp	NOUN
emaj-190	186	30	.	.	PUNCT
emaj-190	186	31	assessing	assess	VERB
emaj-190	186	32	the	the	DET
emaj-190	186	33	findings	finding	NOUN
emaj-190	186	34	in	in	ADP
emaj-190	186	35	tables	table	NOUN
emaj-190	186	36	2	2	NUM
emaj-190	186	37	together	together	ADV
emaj-190	186	38	with	with	ADP
emaj-190	186	39	aggregate	aggregate	ADJ
emaj-190	186	40	patterns	pattern	NOUN
emaj-190	186	41	in	in	ADP
emaj-190	186	42	borrowing	borrowing	NOUN
emaj-190	186	43	(	(	PUNCT
emaj-190	186	44	in	in	ADP
emaj-190	186	45	figure	figure	NOUN
emaj-190	186	46	2	2	NUM
emaj-190	186	47	)	)	PUNCT
emaj-190	186	48	suggests	suggest	VERB
emaj-190	186	49	that	that	SCONJ
emaj-190	186	50	,	,	PUNCT
emaj-190	186	51	previous	previous	ADJ
emaj-190	186	52	financing	financing	NOUN
emaj-190	186	53	constraints	constraint	NOUN
emaj-190	186	54	may	may	AUX
emaj-190	186	55	also	also	ADV
emaj-190	186	56	be	be	AUX
emaj-190	186	57	motivating	motivate	VERB
emaj-190	186	58	excess	excess	ADJ
emaj-190	186	59	borrowing	borrowing	NOUN
emaj-190	186	60	.	.	PUNCT
emaj-190	187	1	once	once	SCONJ
emaj-190	187	2	the	the	DET
emaj-190	187	3	access	access	NOUN
emaj-190	187	4	is	be	AUX
emaj-190	187	5	restored	restore	VERB
emaj-190	187	6	in	in	ADP
emaj-190	187	7	period	period	NOUN
emaj-190	187	8	of	of	ADP
emaj-190	187	9	2004	2004	NUM
emaj-190	187	10	-	-	SYM
emaj-190	187	11	2014	2014	NUM
emaj-190	187	12	smes	sme	NOUN
emaj-190	187	13	,	,	PUNCT
emaj-190	187	14	following	follow	VERB
emaj-190	187	15	a	a	DET
emaj-190	187	16	severe	severe	ADJ
emaj-190	187	17	downturn	downturn	NOUN
emaj-190	187	18	in	in	ADP
emaj-190	187	19	the	the	DET
emaj-190	187	20	economy	economy	NOUN
emaj-190	187	21	,	,	PUNCT
emaj-190	187	22	on	on	ADP
emaj-190	187	23	average	average	ADJ
emaj-190	187	24	,	,	PUNCT
emaj-190	187	25	increase	increase	VERB
emaj-190	187	26	their	their	PRON
emaj-190	187	27	debt	debt	NOUN
emaj-190	187	28	ratio	ratio	NOUN
emaj-190	187	29	more	more	ADV
emaj-190	187	30	than	than	ADP
emaj-190	187	31	the	the	DET
emaj-190	187	32	rest	rest	NOUN
emaj-190	187	33	.	.	PUNCT
emaj-190	188	1	due	due	ADP
emaj-190	188	2	to	to	ADP
emaj-190	188	3	smes	sme	NOUN
emaj-190	188	4	’	'	PUNCT
emaj-190	188	5	weak	weak	ADJ
emaj-190	188	6	financial	financial	ADJ
emaj-190	188	7	position	position	NOUN
emaj-190	188	8	,	,	PUNCT
emaj-190	188	9	they	they	PRON
emaj-190	188	10	are	be	AUX
emaj-190	188	11	vulnerable	vulnerable	ADJ
emaj-190	188	12	to	to	ADP
emaj-190	188	13	monetary	monetary	ADJ
emaj-190	188	14	cycle	cycle	NOUN
emaj-190	188	15	.	.	PUNCT
emaj-190	189	1	hence	hence	ADV
emaj-190	189	2	once	once	SCONJ
emaj-190	189	3	the	the	DET
emaj-190	189	4	access	access	NOUN
emaj-190	189	5	is	be	AUX
emaj-190	189	6	restored	restore	VERB
emaj-190	189	7	in	in	ADP
emaj-190	189	8	period	period	NOUN
emaj-190	189	9	of	of	ADP
emaj-190	189	10	2004	2004	NUM
emaj-190	189	11	-	-	SYM
emaj-190	189	12	2014	2014	NUM
emaj-190	189	13	smes	sme	NOUN
emaj-190	189	14	,	,	PUNCT
emaj-190	189	15	following	follow	VERB
emaj-190	189	16	a	a	DET
emaj-190	189	17	severe	severe	ADJ
emaj-190	189	18	downturn	downturn	NOUN
emaj-190	189	19	in	in	ADP
emaj-190	189	20	the	the	DET
emaj-190	189	21	economy	economy	NOUN
emaj-190	189	22	,	,	PUNCT
emaj-190	189	23	they	they	PRON
emaj-190	189	24	increase	increase	VERB
emaj-190	189	25	leverage	leverage	NOUN
emaj-190	189	26	more	more	ADJ
emaj-190	189	27	than	than	ADP
emaj-190	189	28	the	the	DET
emaj-190	189	29	rest	rest	NOUN
emaj-190	189	30	.	.	PUNCT
emaj-190	190	1	comparing	compare	VERB
emaj-190	190	2	table	table	NOUN
emaj-190	190	3	2	2	NUM
emaj-190	190	4	with	with	ADP
emaj-190	190	5	table	table	NOUN
emaj-190	190	6	3	3	NUM
emaj-190	190	7	and	and	CCONJ
emaj-190	190	8	4	4	NUM
emaj-190	190	9	,	,	PUNCT
emaj-190	190	10	it	it	PRON
emaj-190	190	11	is	be	AUX
emaj-190	190	12	noticeable	noticeable	ADJ
emaj-190	190	13	that	that	SCONJ
emaj-190	190	14	the	the	DET
emaj-190	190	15	immediate	immediate	ADJ
emaj-190	190	16	effect	effect	NOUN
emaj-190	190	17	of	of	ADP
emaj-190	190	18	fc	fc	PROPN
emaj-190	190	19	on	on	ADP
emaj-190	190	20	smes	sme	NOUN
emaj-190	190	21	is	be	AUX
emaj-190	190	22	significant	significant	ADJ
emaj-190	190	23	whereas	whereas	SCONJ
emaj-190	190	24	only	only	ADV
emaj-190	190	25	lagged	lag	VERB
emaj-190	190	26	coefficient	coefficient	NOUN
emaj-190	190	27	for	for	ADP
emaj-190	190	28	fc	fc	PROPN
emaj-190	190	29	is	be	AUX
emaj-190	190	30	significant	significant	ADJ
emaj-190	190	31	for	for	ADP
emaj-190	190	32	large	large	ADJ
emaj-190	190	33	and	and	CCONJ
emaj-190	190	34	stock	stock	NOUN
emaj-190	190	35	listed	list	VERB
emaj-190	190	36	firms	firm	NOUN
emaj-190	190	37	,	,	PUNCT
emaj-190	190	38	suggesting	suggest	VERB
emaj-190	190	39	relatively	relatively	ADV
emaj-190	190	40	higher	high	ADJ
emaj-190	190	41	sensitivity	sensitivity	NOUN
emaj-190	190	42	of	of	ADP
emaj-190	190	43	smes	sme	NOUN
emaj-190	190	44	toward	toward	ADP
emaj-190	190	45	monetary	monetary	ADJ
emaj-190	190	46	conditions	condition	NOUN
emaj-190	190	47	,	,	PUNCT
emaj-190	190	48	which	which	PRON
emaj-190	190	49	is	be	AUX
emaj-190	190	50	compatible	compatible	ADJ
emaj-190	190	51	with	with	ADP
emaj-190	190	52	arguments	argument	NOUN
emaj-190	190	53	in	in	ADP
emaj-190	190	54	bernanke	bernanke	PROPN
emaj-190	190	55	et	et	PROPN
emaj-190	190	56	al	al	PROPN
emaj-190	190	57	.	.	PROPN
emaj-190	191	1	(	(	PUNCT
emaj-190	191	2	1996	1996	NUM
emaj-190	191	3	)	)	PUNCT
emaj-190	191	4	;	;	PUNCT
emaj-190	191	5	gertler	gertler	NOUN
emaj-190	191	6	&	&	CCONJ
emaj-190	191	7	gilchrist	gilchrist	PROPN
emaj-190	191	8	(	(	PUNCT
emaj-190	191	9	1994	1994	NUM
emaj-190	191	10	)	)	PUNCT
emaj-190	191	11	;	;	PUNCT
emaj-190	191	12	kashyap	kashyap	PROPN
emaj-190	191	13	et	et	PROPN
emaj-190	191	14	al	al	PROPN
emaj-190	191	15	.	.	PROPN
emaj-190	192	1	(	(	PUNCT
emaj-190	192	2	1993	1993	NUM
emaj-190	192	3	)	)	PUNCT
emaj-190	192	4	.	.	PUNCT
emaj-190	193	1	evidently	evidently	ADV
emaj-190	193	2	,	,	PUNCT
emaj-190	193	3	advanced	advanced	ADJ
emaj-190	193	4	country	country	NOUN
emaj-190	193	5	monetary	monetary	ADJ
emaj-190	193	6	policies	policy	NOUN
emaj-190	193	7	have	have	VERB
emaj-190	193	8	implications	implication	NOUN
emaj-190	193	9	at	at	ADP
emaj-190	193	10	firm	firm	ADJ
emaj-190	193	11	level	level	NOUN
emaj-190	193	12	,	,	PUNCT
emaj-190	193	13	for	for	ADP
emaj-190	193	14	financing	financing	NOUN
emaj-190	193	15	decisions	decision	NOUN
emaj-190	193	16	of	of	ADP
emaj-190	193	17	non	non	ADJ
emaj-190	193	18	-	-	ADJ
emaj-190	193	19	financial	financial	ADJ
emaj-190	193	20	sector	sector	NOUN
emaj-190	193	21	in	in	ADP
emaj-190	193	22	turkey	turkey	NOUN
emaj-190	193	23	and	and	CCONJ
emaj-190	193	24	volume	volume	NOUN
emaj-190	193	25	10	10	NUM
emaj-190	193	26	no	no	DET
emaj-190	193	27	1	1	NUM
emaj-190	193	28	(	(	PUNCT
emaj-190	193	29	2020	2020	NUM
emaj-190	193	30	)	)	PUNCT
emaj-190	193	31	|	|	ADV
emaj-190	193	32	issn	issn	VERB
emaj-190	193	33	2158	2158	NUM
emaj-190	193	34	-	-	SYM
emaj-190	193	35	8708	8708	NUM
emaj-190	193	36	(	(	PUNCT
emaj-190	193	37	online	online	NOUN
emaj-190	193	38	)	)	PUNCT
emaj-190	193	39	|	|	ADV
emaj-190	193	40	doi	doi	X
emaj-190	193	41	10.5195	10.5195	NUM
emaj-190	193	42	/	/	SYM
emaj-190	193	43	emaj.2020.190	emaj.2020.190	ADJ
emaj-190	193	44	|	|	NOUN
emaj-190	193	45	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	193	46	foreign	foreign	ADJ
emaj-190	193	47	capital	capital	NOUN
emaj-190	193	48	,	,	PUNCT
emaj-190	193	49	real	real	ADJ
emaj-190	193	50	sector	sector	NOUN
emaj-190	193	51	financing	financing	NOUN
emaj-190	193	52	and	and	CCONJ
emaj-190	193	53	excessive	excessive	ADJ
emaj-190	193	54	leverage	leverage	NOUN
emaj-190	193	55	in	in	ADP
emaj-190	193	56	turkey	turkey	NOUN
emaj-190	193	57	:	:	PUNCT
emaj-190	193	58	what	what	PRON
emaj-190	193	59	went	go	VERB
emaj-190	193	60	wrong	wrong	ADJ
emaj-190	193	61	?	?	PUNCT
emaj-190	194	1	page	page	NOUN
emaj-190	194	2	|36|	|36|	VERB
emaj-190	194	3	emerging	emerge	VERB
emaj-190	194	4	markets	market	NOUN
emaj-190	194	5	journal	journal	VERB
emaj-190	194	6	large	large	ADJ
emaj-190	194	7	presence	presence	NOUN
emaj-190	194	8	of	of	ADP
emaj-190	194	9	smes	sme	NOUN
emaj-190	194	10	magnifies	magnify	VERB
emaj-190	194	11	that	that	DET
emaj-190	194	12	influence	influence	NOUN
emaj-190	194	13	.	.	PUNCT
emaj-190	195	1	on	on	ADP
emaj-190	195	2	the	the	DET
emaj-190	195	3	other	other	ADJ
emaj-190	195	4	hand	hand	NOUN
emaj-190	195	5	,	,	PUNCT
emaj-190	195	6	the	the	DET
emaj-190	195	7	effect	effect	NOUN
emaj-190	195	8	of	of	ADP
emaj-190	195	9	mp	mp	NOUN
emaj-190	195	10	on	on	ADP
emaj-190	195	11	large	large	ADJ
emaj-190	195	12	private	private	ADJ
emaj-190	195	13	and	and	CCONJ
emaj-190	195	14	public	public	ADJ
emaj-190	195	15	firms	firm	NOUN
emaj-190	195	16	is	be	AUX
emaj-190	195	17	limited	limit	VERB
emaj-190	195	18	,	,	PUNCT
emaj-190	195	19	although	although	SCONJ
emaj-190	195	20	the	the	DET
emaj-190	195	21	coefficient	coefficient	NOUN
emaj-190	195	22	is	be	AUX
emaj-190	195	23	positive	positive	ADJ
emaj-190	195	24	,	,	PUNCT
emaj-190	195	25	but	but	CCONJ
emaj-190	195	26	statistically	statistically	ADV
emaj-190	195	27	insignificant	insignificant	ADJ
emaj-190	195	28	.	.	PUNCT
emaj-190	196	1	internal	internal	ADJ
emaj-190	196	2	cash	cash	NOUN
emaj-190	196	3	flows	flow	NOUN
emaj-190	196	4	,	,	PUNCT
emaj-190	196	5	trade	trade	NOUN
emaj-190	196	6	credits	credit	NOUN
emaj-190	196	7	and/or	and/or	CCONJ
emaj-190	196	8	their	their	PRON
emaj-190	196	9	current	current	ADJ
emaj-190	196	10	access	access	NOUN
emaj-190	196	11	to	to	ADP
emaj-190	196	12	financing	financing	NOUN
emaj-190	196	13	channels	channel	NOUN
emaj-190	196	14	must	must	AUX
emaj-190	196	15	allow	allow	VERB
emaj-190	196	16	them	they	PRON
emaj-190	196	17	to	to	PART
emaj-190	196	18	operate	operate	VERB
emaj-190	196	19	optimally	optimally	ADV
emaj-190	196	20	,	,	PUNCT
emaj-190	196	21	thus	thus	ADV
emaj-190	196	22	their	their	PRON
emaj-190	196	23	sensitivity	sensitivity	NOUN
emaj-190	196	24	to	to	ADP
emaj-190	196	25	monetary	monetary	ADJ
emaj-190	196	26	conditions	condition	NOUN
emaj-190	196	27	are	be	AUX
emaj-190	196	28	reduced	reduce	VERB
emaj-190	196	29	.	.	PUNCT
emaj-190	197	1	consistent	consistent	ADJ
emaj-190	197	2	with	with	ADP
emaj-190	197	3	it	it	PRON
emaj-190	197	4	,	,	PUNCT
emaj-190	197	5	similar	similar	ADJ
emaj-190	197	6	lack	lack	NOUN
emaj-190	197	7	of	of	ADP
emaj-190	197	8	sensitivity	sensitivity	NOUN
emaj-190	197	9	between	between	ADP
emaj-190	197	10	large	large	ADJ
emaj-190	197	11	private	private	ADJ
emaj-190	197	12	and	and	CCONJ
emaj-190	197	13	public	public	ADJ
emaj-190	197	14	firms	firm	NOUN
emaj-190	197	15	as	as	ADV
emaj-190	197	16	well	well	ADV
emaj-190	197	17	as	as	ADP
emaj-190	197	18	fc	fc	PROPN
emaj-190	197	19	is	be	AUX
emaj-190	197	20	observable	observable	ADJ
emaj-190	197	21	;	;	PUNCT
emaj-190	197	22	only	only	ADV
emaj-190	197	23	lagged	lag	VERB
emaj-190	197	24	fc	fc	PROPN
emaj-190	197	25	seems	seem	VERB
emaj-190	197	26	to	to	PART
emaj-190	197	27	positively	positively	ADV
emaj-190	197	28	influence	influence	VERB
emaj-190	197	29	their	their	PRON
emaj-190	197	30	leverage	leverage	NOUN
emaj-190	197	31	decision	decision	NOUN
emaj-190	197	32	.	.	PUNCT
emaj-190	198	1	as	as	ADP
emaj-190	198	2	for	for	ADP
emaj-190	198	3	the	the	DET
emaj-190	198	4	control	control	NOUN
emaj-190	198	5	variables	variable	NOUN
emaj-190	198	6	,	,	PUNCT
emaj-190	198	7	in	in	ADP
emaj-190	198	8	accordance	accordance	NOUN
emaj-190	198	9	with	with	ADP
emaj-190	198	10	prior	prior	ADJ
emaj-190	198	11	studies	study	NOUN
emaj-190	198	12	,	,	PUNCT
emaj-190	198	13	liquidity	liquidity	NOUN
emaj-190	198	14	variable	variable	NOUN
emaj-190	198	15	is	be	AUX
emaj-190	198	16	highly	highly	ADV
emaj-190	198	17	significant	significant	ADJ
emaj-190	198	18	,	,	PUNCT
emaj-190	198	19	with	with	ADP
emaj-190	198	20	differing	differ	VERB
emaj-190	198	21	impact	impact	NOUN
emaj-190	198	22	based	base	VERB
emaj-190	198	23	on	on	ADP
emaj-190	198	24	size	size	NOUN
emaj-190	198	25	.	.	PUNCT
emaj-190	199	1	debt	debt	NOUN
emaj-190	199	2	ratios	ratio	NOUN
emaj-190	199	3	of	of	ADP
emaj-190	199	4	smes	sme	NOUN
emaj-190	199	5	are	be	AUX
emaj-190	199	6	positively	positively	ADV
emaj-190	199	7	affected	affect	VERB
emaj-190	199	8	by	by	ADP
emaj-190	199	9	liquidity	liquidity	NOUN
emaj-190	199	10	,	,	PUNCT
emaj-190	199	11	while	while	SCONJ
emaj-190	199	12	larger	large	ADJ
emaj-190	199	13	firms	firm	NOUN
emaj-190	199	14	are	be	AUX
emaj-190	199	15	negatively	negatively	ADV
emaj-190	199	16	affected	affect	VERB
emaj-190	199	17	by	by	ADP
emaj-190	199	18	liquidity	liquidity	NOUN
emaj-190	199	19	.	.	PUNCT
emaj-190	200	1	a	a	DET
emaj-190	200	2	result	result	NOUN
emaj-190	200	3	,	,	PUNCT
emaj-190	200	4	which	which	PRON
emaj-190	200	5	may	may	AUX
emaj-190	200	6	be	be	AUX
emaj-190	200	7	explained	explain	VERB
emaj-190	200	8	by	by	ADP
emaj-190	200	9	financial	financial	ADJ
emaj-190	200	10	strength	strength	NOUN
emaj-190	200	11	of	of	ADP
emaj-190	200	12	firms	firm	NOUN
emaj-190	200	13	,	,	PUNCT
emaj-190	200	14	it	it	PRON
emaj-190	200	15	presents	present	VERB
emaj-190	200	16	an	an	DET
emaj-190	200	17	ability	ability	NOUN
emaj-190	200	18	to	to	PART
emaj-190	200	19	repay	repay	VERB
emaj-190	200	20	the	the	DET
emaj-190	200	21	debt	debt	NOUN
emaj-190	200	22	and	and	CCONJ
emaj-190	200	23	an	an	DET
emaj-190	200	24	indication	indication	NOUN
emaj-190	200	25	of	of	ADP
emaj-190	200	26	financial	financial	ADJ
emaj-190	200	27	solvency	solvency	NOUN
emaj-190	200	28	in	in	ADP
emaj-190	200	29	case	case	NOUN
emaj-190	200	30	of	of	ADP
emaj-190	200	31	small	small	ADJ
emaj-190	200	32	firms	firm	NOUN
emaj-190	200	33	.	.	PUNCT
emaj-190	201	1	on	on	ADP
emaj-190	201	2	the	the	DET
emaj-190	201	3	other	other	ADJ
emaj-190	201	4	hand	hand	NOUN
emaj-190	201	5	,	,	PUNCT
emaj-190	201	6	negative	negative	ADJ
emaj-190	201	7	coefficient	coefficient	NOUN
emaj-190	201	8	indicates	indicate	VERB
emaj-190	201	9	availability	availability	NOUN
emaj-190	201	10	of	of	ADP
emaj-190	201	11	internal	internal	ADJ
emaj-190	201	12	resources	resource	NOUN
emaj-190	201	13	and	and	CCONJ
emaj-190	201	14	an	an	DET
emaj-190	201	15	alternative	alternative	ADJ
emaj-190	201	16	funding	funding	NOUN
emaj-190	201	17	to	to	PART
emaj-190	201	18	finance	finance	VERB
emaj-190	201	19	operations	operation	NOUN
emaj-190	201	20	for	for	ADP
emaj-190	201	21	financially	financially	ADV
emaj-190	201	22	stronger	strong	ADJ
emaj-190	201	23	larger	large	ADJ
emaj-190	201	24	firms	firm	NOUN
emaj-190	201	25	.	.	PUNCT
emaj-190	202	1	the	the	DET
emaj-190	202	2	more	more	ADJ
emaj-190	202	3	liquidity	liquidity	NOUN
emaj-190	202	4	a	a	DET
emaj-190	202	5	firm	firm	NOUN
emaj-190	202	6	has	have	VERB
emaj-190	202	7	,	,	PUNCT
emaj-190	202	8	the	the	DET
emaj-190	202	9	less	less	ADJ
emaj-190	202	10	need	need	NOUN
emaj-190	202	11	for	for	SCONJ
emaj-190	202	12	additional	additional	ADJ
emaj-190	202	13	debt	debt	NOUN
emaj-190	202	14	financing	financing	NOUN
emaj-190	202	15	may	may	AUX
emaj-190	202	16	exist	exist	VERB
emaj-190	202	17	.	.	PUNCT
emaj-190	203	1	unlike	unlike	ADP
emaj-190	203	2	findings	finding	NOUN
emaj-190	203	3	in	in	ADP
emaj-190	203	4	previous	previous	ADJ
emaj-190	203	5	studies	study	NOUN
emaj-190	203	6	(	(	PUNCT
emaj-190	203	7	frank	frank	PROPN
emaj-190	203	8	&	&	CCONJ
emaj-190	203	9	goyal	goyal	PROPN
emaj-190	203	10	,	,	PUNCT
emaj-190	203	11	2009	2009	NUM
emaj-190	203	12	;	;	PUNCT
emaj-190	203	13	harris	harris	PROPN
emaj-190	203	14	&	&	CCONJ
emaj-190	203	15	raviv	raviv	PROPN
emaj-190	203	16	,	,	PUNCT
emaj-190	203	17	1991	1991	NUM
emaj-190	203	18	;	;	PUNCT
emaj-190	203	19	rajan	rajan	PROPN
emaj-190	203	20	&	&	CCONJ
emaj-190	203	21	zingales	zingales	PROPN
emaj-190	203	22	,	,	PUNCT
emaj-190	203	23	1995	1995	NUM
emaj-190	203	24	)	)	PUNCT
emaj-190	203	25	,	,	PUNCT
emaj-190	203	26	no	no	DET
emaj-190	203	27	statistically	statistically	ADV
emaj-190	203	28	significant	significant	ADJ
emaj-190	203	29	relationship	relationship	NOUN
emaj-190	203	30	between	between	ADP
emaj-190	203	31	profitability	profitability	NOUN
emaj-190	203	32	and	and	CCONJ
emaj-190	203	33	borrowing	borrowing	NOUN
emaj-190	203	34	exists	exist	VERB
emaj-190	203	35	in	in	ADP
emaj-190	203	36	any	any	PRON
emaj-190	203	37	of	of	ADP
emaj-190	203	38	the	the	DET
emaj-190	203	39	sub	sub	NOUN
emaj-190	203	40	-	-	NOUN
emaj-190	203	41	groups	group	NOUN
emaj-190	203	42	.	.	PUNCT
emaj-190	204	1	the	the	DET
emaj-190	204	2	only	only	ADJ
emaj-190	204	3	exception	exception	NOUN
emaj-190	204	4	for	for	ADP
emaj-190	204	5	public	public	ADJ
emaj-190	204	6	firms	firm	NOUN
emaj-190	204	7	where	where	SCONJ
emaj-190	204	8	the	the	DET
emaj-190	204	9	relationship	relationship	NOUN
emaj-190	204	10	is	be	AUX
emaj-190	204	11	negative	negative	ADJ
emaj-190	204	12	and	and	CCONJ
emaj-190	204	13	significant	significant	ADJ
emaj-190	204	14	,	,	PUNCT
emaj-190	204	15	is	be	AUX
emaj-190	204	16	where	where	SCONJ
emaj-190	204	17	preference	preference	NOUN
emaj-190	204	18	toward	toward	ADP
emaj-190	204	19	internal	internal	ADJ
emaj-190	204	20	sources	source	NOUN
emaj-190	204	21	for	for	ADP
emaj-190	204	22	financing	financing	NOUN
emaj-190	204	23	over	over	ADP
emaj-190	204	24	external	external	ADJ
emaj-190	204	25	funds	fund	NOUN
emaj-190	204	26	is	be	AUX
emaj-190	204	27	observed	observe	VERB
emaj-190	204	28	.	.	PUNCT
emaj-190	205	1	on	on	ADP
emaj-190	205	2	the	the	DET
emaj-190	205	3	other	other	ADJ
emaj-190	205	4	hand	hand	NOUN
emaj-190	205	5	,	,	PUNCT
emaj-190	205	6	size	size	NOUN
emaj-190	205	7	variable	variable	NOUN
emaj-190	205	8	significantly	significantly	ADV
emaj-190	205	9	and	and	CCONJ
emaj-190	205	10	positively	positively	ADV
emaj-190	205	11	affects	affect	VERB
emaj-190	205	12	debt	debt	NOUN
emaj-190	205	13	ratios	ratio	NOUN
emaj-190	205	14	,	,	PUNCT
emaj-190	205	15	as	as	SCONJ
emaj-190	205	16	documented	document	VERB
emaj-190	205	17	by	by	ADP
emaj-190	205	18	the	the	DET
emaj-190	205	19	above	above	ADJ
emaj-190	205	20	cited	cite	VERB
emaj-190	205	21	studies	study	NOUN
emaj-190	205	22	,	,	PUNCT
emaj-190	205	23	which	which	PRON
emaj-190	205	24	point	point	VERB
emaj-190	205	25	to	to	ADP
emaj-190	205	26	the	the	DET
emaj-190	205	27	importance	importance	NOUN
emaj-190	205	28	of	of	ADP
emaj-190	205	29	debt	debt	NOUN
emaj-190	205	30	capacity	capacity	NOUN
emaj-190	205	31	attached	attach	VERB
emaj-190	205	32	to	to	ADP
emaj-190	205	33	it	it	PRON
emaj-190	205	34	.	.	PUNCT
emaj-190	206	1	it	it	PRON
emaj-190	206	2	is	be	AUX
emaj-190	206	3	argued	argue	VERB
emaj-190	206	4	that	that	SCONJ
emaj-190	206	5	,	,	PUNCT
emaj-190	206	6	tangible	tangible	ADJ
emaj-190	206	7	assets	asset	NOUN
emaj-190	206	8	positively	positively	ADV
emaj-190	206	9	affect	affect	VERB
emaj-190	206	10	borrowing	borrow	VERB
emaj-190	206	11	since	since	SCONJ
emaj-190	206	12	they	they	PRON
emaj-190	206	13	are	be	AUX
emaj-190	206	14	used	use	VERB
emaj-190	206	15	as	as	ADP
emaj-190	206	16	collateral	collateral	NOUN
emaj-190	206	17	to	to	PART
emaj-190	206	18	secure	secure	VERB
emaj-190	206	19	loans	loan	NOUN
emaj-190	206	20	(	(	PUNCT
emaj-190	206	21	frank	frank	PROPN
emaj-190	206	22	&	&	CCONJ
emaj-190	206	23	goyal	goyal	PROPN
emaj-190	206	24	,	,	PUNCT
emaj-190	206	25	2009	2009	NUM
emaj-190	206	26	;	;	PUNCT
emaj-190	206	27	harris	harris	PROPN
emaj-190	206	28	&	&	CCONJ
emaj-190	206	29	raviv	raviv	PROPN
emaj-190	206	30	,	,	PUNCT
emaj-190	206	31	1991	1991	NUM
emaj-190	206	32	;	;	PUNCT
emaj-190	206	33	rajan	rajan	PROPN
emaj-190	206	34	&	&	CCONJ
emaj-190	206	35	zingales	zingales	PROPN
emaj-190	206	36	,	,	PUNCT
emaj-190	206	37	1995	1995	NUM
emaj-190	206	38	)	)	PUNCT
emaj-190	206	39	.	.	PUNCT
emaj-190	207	1	consistent	consistent	ADJ
emaj-190	207	2	with	with	ADP
emaj-190	207	3	previous	previous	ADJ
emaj-190	207	4	studies	study	NOUN
emaj-190	207	5	,	,	PUNCT
emaj-190	207	6	it	it	PRON
emaj-190	207	7	is	be	AUX
emaj-190	207	8	highly	highly	ADV
emaj-190	207	9	significant	significant	ADJ
emaj-190	207	10	in	in	ADP
emaj-190	207	11	determining	determine	VERB
emaj-190	207	12	debt	debt	NOUN
emaj-190	207	13	ratios	ratio	NOUN
emaj-190	207	14	of	of	ADP
emaj-190	207	15	all	all	DET
emaj-190	207	16	groups	group	NOUN
emaj-190	207	17	.	.	PUNCT
emaj-190	208	1	real	real	ADJ
emaj-190	208	2	gdp	gdp	NOUN
emaj-190	208	3	growth	growth	NOUN
emaj-190	208	4	and	and	CCONJ
emaj-190	208	5	inflation	inflation	NOUN
emaj-190	208	6	variables	variable	NOUN
emaj-190	208	7	are	be	AUX
emaj-190	208	8	included	include	VERB
emaj-190	208	9	both	both	PRON
emaj-190	208	10	to	to	PART
emaj-190	208	11	control	control	VERB
emaj-190	208	12	the	the	DET
emaj-190	208	13	effect	effect	NOUN
emaj-190	208	14	of	of	ADP
emaj-190	208	15	general	general	ADJ
emaj-190	208	16	economic	economic	ADJ
emaj-190	208	17	conditions	condition	NOUN
emaj-190	208	18	and	and	CCONJ
emaj-190	208	19	to	to	PART
emaj-190	208	20	account	account	VERB
emaj-190	208	21	for	for	ADP
emaj-190	208	22	their	their	PRON
emaj-190	208	23	effect	effect	NOUN
emaj-190	208	24	on	on	ADP
emaj-190	208	25	corporate	corporate	ADJ
emaj-190	208	26	borrowing	borrowing	NOUN
emaj-190	208	27	decision	decision	NOUN
emaj-190	208	28	.	.	PUNCT
emaj-190	209	1	however	however	ADV
emaj-190	209	2	,	,	PUNCT
emaj-190	209	3	the	the	DET
emaj-190	209	4	coefficient	coefficient	NOUN
emaj-190	209	5	for	for	ADP
emaj-190	209	6	gdp	gdp	NOUN
emaj-190	209	7	growth	growth	NOUN
emaj-190	209	8	is	be	AUX
emaj-190	209	9	negative	negative	ADJ
emaj-190	209	10	and	and	CCONJ
emaj-190	209	11	in	in	ADP
emaj-190	209	12	some	some	DET
emaj-190	209	13	cases	case	NOUN
emaj-190	209	14	highly	highly	ADV
emaj-190	209	15	significant	significant	ADJ
emaj-190	209	16	(	(	PUNCT
emaj-190	209	17	table	table	NOUN
emaj-190	209	18	4	4	NUM
emaj-190	209	19	,	,	PUNCT
emaj-190	209	20	columns	column	NOUN
emaj-190	209	21	3	3	NUM
emaj-190	209	22	through	through	ADP
emaj-190	209	23	8)	8)	NUM
emaj-190	209	24	.	.	PUNCT
emaj-190	210	1	but	but	CCONJ
emaj-190	210	2	unfortunately	unfortunately	ADV
emaj-190	210	3	it	it	PRON
emaj-190	210	4	is	be	AUX
emaj-190	210	5	unstable	unstable	ADJ
emaj-190	210	6	,	,	PUNCT
emaj-190	210	7	i.e.	i.e.	X
emaj-190	210	8	,	,	PUNCT
emaj-190	210	9	adding	add	VERB
emaj-190	210	10	or	or	CCONJ
emaj-190	210	11	subtracting	subtract	VERB
emaj-190	210	12	a	a	DET
emaj-190	210	13	variable	variable	NOUN
emaj-190	210	14	causes	cause	VERB
emaj-190	210	15	a	a	DET
emaj-190	210	16	change	change	NOUN
emaj-190	210	17	in	in	ADP
emaj-190	210	18	the	the	DET
emaj-190	210	19	sign	sign	NOUN
emaj-190	210	20	of	of	ADP
emaj-190	210	21	the	the	DET
emaj-190	210	22	coefficient	coefficient	NOUN
emaj-190	210	23	.	.	PUNCT
emaj-190	211	1	similar	similar	ADJ
emaj-190	211	2	issue	issue	NOUN
emaj-190	211	3	with	with	ADP
emaj-190	211	4	inflation	inflation	NOUN
emaj-190	211	5	is	be	AUX
emaj-190	211	6	present	present	ADJ
emaj-190	211	7	where	where	SCONJ
emaj-190	211	8	the	the	DET
emaj-190	211	9	sign	sign	NOUN
emaj-190	211	10	of	of	ADP
emaj-190	211	11	the	the	DET
emaj-190	211	12	coefficient	coefficient	NOUN
emaj-190	211	13	alters	alter	VERB
emaj-190	211	14	with	with	ADP
emaj-190	211	15	the	the	DET
emaj-190	211	16	addition	addition	NOUN
emaj-190	211	17	and	and	CCONJ
emaj-190	211	18	subtraction	subtraction	NOUN
emaj-190	211	19	of	of	ADP
emaj-190	211	20	other	other	ADJ
emaj-190	211	21	variables	variable	NOUN
emaj-190	211	22	.	.	PUNCT
emaj-190	212	1	therefore	therefore	ADV
emaj-190	212	2	,	,	PUNCT
emaj-190	212	3	it	it	PRON
emaj-190	212	4	may	may	AUX
emaj-190	212	5	be	be	AUX
emaj-190	212	6	wiser	wise	ADJ
emaj-190	212	7	to	to	PART
emaj-190	212	8	avoid	avoid	VERB
emaj-190	212	9	interpreting	interpret	VERB
emaj-190	212	10	the	the	DET
emaj-190	212	11	coefficient	coefficient	NOUN
emaj-190	212	12	for	for	ADP
emaj-190	212	13	the	the	DET
emaj-190	212	14	both	both	PRON
emaj-190	212	15	of	of	ADP
emaj-190	212	16	the	the	DET
emaj-190	212	17	variables	variable	NOUN
emaj-190	212	18	and	and	CCONJ
emaj-190	212	19	rely	rely	VERB
emaj-190	212	20	on	on	ADP
emaj-190	212	21	their	their	PRON
emaj-190	212	22	role	role	NOUN
emaj-190	212	23	to	to	PART
emaj-190	212	24	account	account	VERB
emaj-190	212	25	for	for	ADP
emaj-190	212	26	general	general	ADJ
emaj-190	212	27	economic	economic	ADJ
emaj-190	212	28	conditions	condition	NOUN
emaj-190	212	29	in	in	ADP
emaj-190	212	30	estimations	estimation	NOUN
emaj-190	212	31	.	.	PUNCT
emaj-190	213	1	table	table	NOUN
emaj-190	213	2	2	2	NUM
emaj-190	213	3	:	:	PUNCT
emaj-190	213	4	fixed	fix	VERB
emaj-190	213	5	effect	effect	NOUN
emaj-190	213	6	analysis	analysis	NOUN
emaj-190	213	7	on	on	ADP
emaj-190	213	8	financial	financial	ADJ
emaj-190	213	9	debt	debt	NOUN
emaj-190	213	10	small	small	ADJ
emaj-190	213	11	and	and	CCONJ
emaj-190	213	12	medium	medium	ADJ
emaj-190	213	13	firms	firm	NOUN
emaj-190	213	14	table	table	VERB
emaj-190	213	15	3	3	NUM
emaj-190	213	16	:	:	PUNCT
emaj-190	213	17	fixed	fix	VERB
emaj-190	213	18	effect	effect	NOUN
emaj-190	213	19	analysis	analysis	NOUN
emaj-190	213	20	on	on	ADP
emaj-190	213	21	financial	financial	ADJ
emaj-190	213	22	debtlarge	debtlarge	NOUN
emaj-190	213	23	firms	firm	NOUN
emaj-190	213	24	table	table	VERB
emaj-190	213	25	4	4	NUM
emaj-190	213	26	:	:	PUNCT
emaj-190	213	27	fixed	fix	VERB
emaj-190	213	28	effect	effect	NOUN
emaj-190	213	29	analysis	analysis	NOUN
emaj-190	213	30	on	on	ADP
emaj-190	213	31	financial	financial	ADJ
emaj-190	213	32	debt	debt	NOUN
emaj-190	213	33	public	public	ADJ
emaj-190	213	34	and	and	CCONJ
emaj-190	213	35	private	private	ADJ
emaj-190	213	36	firms	firm	NOUN
emaj-190	213	37	robustness	robustness	VERB
emaj-190	213	38	analysis	analysis	NOUN
emaj-190	213	39	two	two	NUM
emaj-190	213	40	sets	set	NOUN
emaj-190	213	41	of	of	ADP
emaj-190	213	42	robustness	robustness	NOUN
emaj-190	213	43	analysis	analysis	NOUN
emaj-190	213	44	are	be	AUX
emaj-190	213	45	conducted	conduct	VERB
emaj-190	213	46	.	.	PUNCT
emaj-190	214	1	the	the	DET
emaj-190	214	2	first	first	ADJ
emaj-190	214	3	part	part	NOUN
emaj-190	214	4	involves	involve	VERB
emaj-190	214	5	adding	add	VERB
emaj-190	214	6	potentially	potentially	ADV
emaj-190	214	7	relevant	relevant	ADJ
emaj-190	214	8	variables	variable	NOUN
emaj-190	214	9	to	to	ADP
emaj-190	214	10	the	the	DET
emaj-190	214	11	base	base	NOUN
emaj-190	214	12	model	model	NOUN
emaj-190	214	13	.	.	PUNCT
emaj-190	215	1	in	in	ADP
emaj-190	215	2	the	the	DET
emaj-190	215	3	second	second	ADJ
emaj-190	215	4	part	part	NOUN
emaj-190	215	5	,	,	PUNCT
emaj-190	215	6	firms	firm	NOUN
emaj-190	215	7	are	be	AUX
emaj-190	215	8	re	re	VERB
emaj-190	215	9	-	-	VERB
emaj-190	215	10	grouped	grouped	AUX
emaj-190	215	11	based	base	VERB
emaj-190	215	12	on	on	ADP
emaj-190	215	13	net	net	ADJ
emaj-190	215	14	trade	trade	NOUN
emaj-190	215	15	credit	credit	NOUN
emaj-190	215	16	(	(	PUNCT
emaj-190	215	17	tc	tc	NOUN
emaj-190	215	18	)	)	PUNCT
emaj-190	215	19	balance	balance	NOUN
emaj-190	215	20	.	.	PUNCT
emaj-190	216	1	the	the	DET
emaj-190	216	2	results	result	NOUN
emaj-190	216	3	show	show	VERB
emaj-190	216	4	that	that	SCONJ
emaj-190	216	5	,	,	PUNCT
emaj-190	216	6	early	early	ADJ
emaj-190	216	7	findings	finding	NOUN
emaj-190	216	8	are	be	AUX
emaj-190	216	9	robust	robust	ADJ
emaj-190	216	10	to	to	ADP
emaj-190	216	11	adding	add	VERB
emaj-190	216	12	relevant	relevant	ADJ
emaj-190	216	13	macro	macro	ADJ
emaj-190	216	14	variables	variable	NOUN
emaj-190	216	15	and	and	CCONJ
emaj-190	216	16	reclassification	reclassification	NOUN
emaj-190	216	17	of	of	ADP
emaj-190	216	18	the	the	DET
emaj-190	216	19	firms	firm	NOUN
emaj-190	216	20	proves	prove	VERB
emaj-190	216	21	to	to	PART
emaj-190	216	22	be	be	AUX
emaj-190	216	23	useful	useful	ADJ
emaj-190	216	24	,	,	PUNCT
emaj-190	216	25	as	as	ADV
emaj-190	216	26	well	well	ADV
emaj-190	216	27	.	.	PUNCT
emaj-190	217	1	to	to	PART
emaj-190	217	2	avoid	avoid	VERB
emaj-190	217	3	repetition	repetition	NOUN
emaj-190	217	4	,	,	PUNCT
emaj-190	217	5	please	please	INTJ
emaj-190	217	6	refer	refer	VERB
emaj-190	217	7	to	to	ADP
emaj-190	217	8	section	section	NOUN
emaj-190	217	9	iv	iv	NUM
emaj-190	217	10	for	for	ADP
emaj-190	217	11	variable	variable	ADJ
emaj-190	217	12	description	description	NOUN
emaj-190	217	13	and	and	CCONJ
emaj-190	217	14	methodology	methodology	NOUN
emaj-190	217	15	.	.	PUNCT
emaj-190	218	1	in	in	ADP
emaj-190	218	2	the	the	DET
emaj-190	218	3	first	first	ADJ
emaj-190	218	4	part	part	NOUN
emaj-190	218	5	,	,	PUNCT
emaj-190	218	6	the	the	DET
emaj-190	218	7	results	result	NOUN
emaj-190	218	8	are	be	AUX
emaj-190	218	9	in	in	ADP
emaj-190	218	10	table	table	NOUN
emaj-190	218	11	5	5	NUM
emaj-190	218	12	.	.	PUNCT
emaj-190	218	13	macro	macro	ADJ
emaj-190	218	14	variables	variable	NOUN
emaj-190	218	15	such	such	ADJ
emaj-190	218	16	as	as	ADP
emaj-190	218	17	representative	representative	ADJ
emaj-190	218	18	interest	interest	NOUN
emaj-190	218	19	rate13	rate13	NOUN
emaj-190	218	20	,	,	PUNCT
emaj-190	218	21	13interbank	13interbank	DET
emaj-190	218	22	borrowing	borrowing	NOUN
emaj-190	218	23	rate	rate	NOUN
emaj-190	218	24	is	be	AUX
emaj-190	218	25	used	use	VERB
emaj-190	218	26	in	in	ADP
emaj-190	218	27	the	the	DET
emaj-190	218	28	analysis	analysis	NOUN
emaj-190	218	29	.	.	PUNCT
emaj-190	219	1	volume	volume	NOUN
emaj-190	219	2	10	10	NUM
emaj-190	219	3	no	no	DET
emaj-190	219	4	1	1	NUM
emaj-190	219	5	(	(	PUNCT
emaj-190	219	6	2020	2020	NUM
emaj-190	219	7	)	)	PUNCT
emaj-190	219	8	|	|	ADV
emaj-190	219	9	issn	issn	VERB
emaj-190	219	10	2158	2158	NUM
emaj-190	219	11	-	-	SYM
emaj-190	219	12	8708	8708	NUM
emaj-190	219	13	(	(	PUNCT
emaj-190	219	14	online	online	NOUN
emaj-190	219	15	)	)	PUNCT
emaj-190	219	16	|	|	ADV
emaj-190	219	17	doi	doi	X
emaj-190	219	18	10.5195	10.5195	NUM
emaj-190	219	19	/	/	SYM
emaj-190	219	20	emaj.2020.190	emaj.2020.190	NOUN
emaj-190	219	21	|	|	NOUN
emaj-190	219	22	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	219	23	bahadır	bahadır	NOUN
emaj-190	219	24	karakoç	karakoç	VERB
emaj-190	219	25	emerging	emerge	VERB
emaj-190	219	26	markets	market	NOUN
emaj-190	219	27	journal	journal	NOUN
emaj-190	220	1	|	|	ADV
emaj-190	220	2	p	p	NOUN
emaj-190	220	3	a	a	DET
emaj-190	220	4	g	g	PROPN
emaj-190	220	5	e	e	PROPN
emaj-190	220	6	|37	|37	NOUN
emaj-190	220	7	currency	currency	NOUN
emaj-190	220	8	growth14	growth14	NOUN
emaj-190	220	9	and	and	CCONJ
emaj-190	220	10	liquid	liquid	ADJ
emaj-190	220	11	liabilities	liability	NOUN
emaj-190	220	12	to	to	ADP
emaj-190	220	13	gdp	gdp	NOUN
emaj-190	220	14	ratio	ratio	NOUN
emaj-190	220	15	are	be	AUX
emaj-190	220	16	added	add	VERB
emaj-190	220	17	to	to	ADP
emaj-190	220	18	the	the	DET
emaj-190	220	19	analysis	analysis	NOUN
emaj-190	220	20	.	.	PUNCT
emaj-190	221	1	the	the	DET
emaj-190	221	2	significance	significance	NOUN
emaj-190	221	3	of	of	ADP
emaj-190	221	4	these	these	DET
emaj-190	221	5	variables	variable	NOUN
emaj-190	221	6	is	be	AUX
emaj-190	221	7	that	that	SCONJ
emaj-190	221	8	,	,	PUNCT
emaj-190	221	9	they	they	PRON
emaj-190	221	10	would	would	AUX
emaj-190	221	11	have	have	VERB
emaj-190	221	12	a	a	DET
emaj-190	221	13	cause	cause	NOUN
emaj-190	221	14	and	and	CCONJ
emaj-190	221	15	effect	effect	VERB
emaj-190	221	16	relation	relation	NOUN
emaj-190	221	17	with	with	ADP
emaj-190	221	18	fc	fc	PROPN
emaj-190	221	19	,	,	PUNCT
emaj-190	221	20	and	and	CCONJ
emaj-190	221	21	it	it	PRON
emaj-190	221	22	is	be	AUX
emaj-190	221	23	necessary	necessary	ADJ
emaj-190	221	24	to	to	PART
emaj-190	221	25	ensure	ensure	VERB
emaj-190	221	26	that	that	SCONJ
emaj-190	221	27	the	the	DET
emaj-190	221	28	effect	effect	NOUN
emaj-190	221	29	observed	observe	VERB
emaj-190	221	30	between	between	ADP
emaj-190	221	31	borrowing	borrowing	NOUN
emaj-190	221	32	and	and	CCONJ
emaj-190	221	33	fc	fc	PROPN
emaj-190	221	34	is	be	AUX
emaj-190	221	35	not	not	PART
emaj-190	221	36	due	due	ADJ
emaj-190	221	37	to	to	ADP
emaj-190	221	38	them	they	PRON
emaj-190	221	39	.	.	PUNCT
emaj-190	222	1	international	international	ADJ
emaj-190	222	2	finance	finance	NOUN
emaj-190	222	3	research	research	NOUN
emaj-190	222	4	has	have	AUX
emaj-190	222	5	documented	document	VERB
emaj-190	222	6	that	that	SCONJ
emaj-190	222	7	changes	change	NOUN
emaj-190	222	8	in	in	ADP
emaj-190	222	9	exchange	exchange	NOUN
emaj-190	222	10	rates	rate	NOUN
emaj-190	222	11	,	,	PUNCT
emaj-190	222	12	interest	interest	NOUN
emaj-190	222	13	rates	rate	NOUN
emaj-190	222	14	and	and	CCONJ
emaj-190	222	15	monetary	monetary	ADJ
emaj-190	222	16	expansion	expansion	NOUN
emaj-190	222	17	are	be	AUX
emaj-190	222	18	the	the	DET
emaj-190	222	19	immediate	immediate	ADJ
emaj-190	222	20	results	result	NOUN
emaj-190	222	21	accompanying	accompany	VERB
emaj-190	222	22	capital	capital	NOUN
emaj-190	222	23	inflow	inflow	NOUN
emaj-190	222	24	.	.	PUNCT
emaj-190	223	1	therefore	therefore	ADV
emaj-190	223	2	,	,	PUNCT
emaj-190	223	3	mentioned	mention	VERB
emaj-190	223	4	variables	variable	NOUN
emaj-190	223	5	are	be	AUX
emaj-190	223	6	included	include	VERB
emaj-190	223	7	to	to	PART
emaj-190	223	8	validate	validate	VERB
emaj-190	223	9	the	the	DET
emaj-190	223	10	intuition	intuition	NOUN
emaj-190	223	11	established	establish	VERB
emaj-190	223	12	earlier	early	ADV
emaj-190	223	13	.	.	PUNCT
emaj-190	224	1	particularly	particularly	ADV
emaj-190	224	2	,	,	PUNCT
emaj-190	224	3	representative	representative	ADJ
emaj-190	224	4	rate	rate	NOUN
emaj-190	224	5	appears	appear	VERB
emaj-190	224	6	to	to	PART
emaj-190	224	7	be	be	AUX
emaj-190	224	8	highly	highly	ADV
emaj-190	224	9	significant	significant	ADJ
emaj-190	224	10	,	,	PUNCT
emaj-190	224	11	and	and	CCONJ
emaj-190	224	12	it	it	PRON
emaj-190	224	13	reduces	reduce	VERB
emaj-190	224	14	the	the	DET
emaj-190	224	15	marginal	marginal	ADJ
emaj-190	224	16	effect	effect	NOUN
emaj-190	224	17	of	of	ADP
emaj-190	224	18	fc	fc	PROPN
emaj-190	224	19	in	in	ADP
emaj-190	224	20	half	half	NOUN
emaj-190	224	21	.	.	PUNCT
emaj-190	225	1	inflation	inflation	NOUN
emaj-190	225	2	and	and	CCONJ
emaj-190	225	3	gdp	gdp	NOUN
emaj-190	225	4	growth	growth	NOUN
emaj-190	225	5	change	change	NOUN
emaj-190	225	6	sign	sign	NOUN
emaj-190	225	7	as	as	SCONJ
emaj-190	225	8	the	the	DET
emaj-190	225	9	variables	variable	NOUN
emaj-190	225	10	are	be	AUX
emaj-190	225	11	added	add	VERB
emaj-190	225	12	,	,	PUNCT
emaj-190	225	13	and	and	CCONJ
emaj-190	225	14	in	in	ADP
emaj-190	225	15	some	some	DET
emaj-190	225	16	cases	case	NOUN
emaj-190	225	17	they	they	PRON
emaj-190	225	18	become	become	VERB
emaj-190	225	19	insignificant	insignificant	ADJ
emaj-190	225	20	,	,	PUNCT
emaj-190	225	21	supporting	support	VERB
emaj-190	225	22	the	the	DET
emaj-190	225	23	early	early	ADJ
emaj-190	225	24	approach	approach	NOUN
emaj-190	225	25	not	not	PART
emaj-190	225	26	to	to	PART
emaj-190	225	27	ascribe	ascribe	VERB
emaj-190	225	28	special	special	ADJ
emaj-190	225	29	meaning	meaning	NOUN
emaj-190	225	30	to	to	ADP
emaj-190	225	31	their	their	PRON
emaj-190	225	32	relation	relation	NOUN
emaj-190	225	33	with	with	ADP
emaj-190	225	34	firm	firm	ADJ
emaj-190	225	35	leverage	leverage	NOUN
emaj-190	225	36	.	.	PUNCT
emaj-190	226	1	although	although	SCONJ
emaj-190	226	2	the	the	DET
emaj-190	226	3	magnitude	magnitude	NOUN
emaj-190	226	4	of	of	ADP
emaj-190	226	5	the	the	DET
emaj-190	226	6	coefficient	coefficient	NOUN
emaj-190	226	7	for	for	ADP
emaj-190	226	8	fc	fc	PROPN
emaj-190	226	9	seems	seem	VERB
emaj-190	226	10	to	to	PART
emaj-190	226	11	be	be	AUX
emaj-190	226	12	declining	decline	VERB
emaj-190	226	13	,	,	PUNCT
emaj-190	226	14	it	it	PRON
emaj-190	226	15	survives	survive	VERB
emaj-190	226	16	the	the	DET
emaj-190	226	17	test	test	NOUN
emaj-190	226	18	and	and	CCONJ
emaj-190	226	19	at	at	ADP
emaj-190	226	20	the	the	DET
emaj-190	226	21	end	end	NOUN
emaj-190	226	22	it	it	PRON
emaj-190	226	23	is	be	AUX
emaj-190	226	24	still	still	ADV
emaj-190	226	25	highly	highly	ADV
emaj-190	226	26	significant	significant	ADJ
emaj-190	226	27	and	and	CCONJ
emaj-190	226	28	maintains	maintain	VERB
emaj-190	226	29	its	its	PRON
emaj-190	226	30	positive	positive	ADJ
emaj-190	226	31	affect	affect	NOUN
emaj-190	226	32	on	on	ADP
emaj-190	226	33	borrowing	borrow	VERB
emaj-190	226	34	decision	decision	NOUN
emaj-190	226	35	.	.	PUNCT
emaj-190	227	1	other	other	ADJ
emaj-190	227	2	variables	variable	NOUN
emaj-190	227	3	;	;	PUNCT
emaj-190	227	4	currency	currency	NOUN
emaj-190	227	5	growth	growth	NOUN
emaj-190	227	6	and	and	CCONJ
emaj-190	227	7	m3	m3	PROPN
emaj-190	227	8	to	to	ADP
emaj-190	227	9	gdp	gdp	PROPN
emaj-190	227	10	do	do	AUX
emaj-190	227	11	n’t	not	PART
emaj-190	227	12	seem	seem	VERB
emaj-190	227	13	to	to	PART
emaj-190	227	14	absorb	absorb	VERB
emaj-190	227	15	influence	influence	NOUN
emaj-190	227	16	of	of	ADP
emaj-190	227	17	fc	fc	PROPN
emaj-190	227	18	and	and	CCONJ
emaj-190	227	19	either	either	CCONJ
emaj-190	227	20	their	their	PRON
emaj-190	227	21	coefficient	coefficient	NOUN
emaj-190	227	22	change	change	NOUN
emaj-190	227	23	sign	sign	NOUN
emaj-190	227	24	or	or	CCONJ
emaj-190	227	25	they	they	PRON
emaj-190	227	26	lose	lose	VERB
emaj-190	227	27	significance	significance	NOUN
emaj-190	227	28	.	.	PUNCT
emaj-190	228	1	therefore	therefore	ADV
emaj-190	228	2	,	,	PUNCT
emaj-190	228	3	it	it	PRON
emaj-190	228	4	is	be	AUX
emaj-190	228	5	more	more	ADV
emaj-190	228	6	intuitive	intuitive	ADJ
emaj-190	228	7	to	to	PART
emaj-190	228	8	focus	focus	VERB
emaj-190	228	9	on	on	ADP
emaj-190	228	10	the	the	DET
emaj-190	228	11	behavior	behavior	NOUN
emaj-190	228	12	of	of	ADP
emaj-190	228	13	fc	fc	PROPN
emaj-190	228	14	in	in	ADP
emaj-190	228	15	the	the	DET
emaj-190	228	16	presence	presence	NOUN
emaj-190	228	17	of	of	ADP
emaj-190	228	18	other	other	ADJ
emaj-190	228	19	macro	macro	ADJ
emaj-190	228	20	variables	variable	NOUN
emaj-190	228	21	than	than	ADP
emaj-190	228	22	how	how	SCONJ
emaj-190	228	23	they	they	PRON
emaj-190	228	24	influence	influence	VERB
emaj-190	228	25	leverage	leverage	NOUN
emaj-190	228	26	because	because	SCONJ
emaj-190	228	27	of	of	ADP
emaj-190	228	28	high	high	ADJ
emaj-190	228	29	correlation	correlation	NOUN
emaj-190	228	30	among	among	ADP
emaj-190	228	31	them	they	PRON
emaj-190	228	32	and	and	CCONJ
emaj-190	228	33	accordingly	accordingly	ADV
emaj-190	228	34	the	the	DET
emaj-190	228	35	reader	reader	NOUN
emaj-190	228	36	is	be	AUX
emaj-190	228	37	advised	advise	VERB
emaj-190	228	38	to	to	PART
emaj-190	228	39	be	be	AUX
emaj-190	228	40	cautious	cautious	ADJ
emaj-190	228	41	in	in	ADP
emaj-190	228	42	drawing	draw	VERB
emaj-190	228	43	any	any	DET
emaj-190	228	44	conclusion	conclusion	NOUN
emaj-190	228	45	.	.	PUNCT
emaj-190	229	1	next	next	ADV
emaj-190	229	2	,	,	PUNCT
emaj-190	229	3	the	the	DET
emaj-190	229	4	data	datum	NOUN
emaj-190	229	5	are	be	AUX
emaj-190	229	6	re	re	VERB
emaj-190	229	7	-	-	VERB
emaj-190	229	8	divided	divide	VERB
emaj-190	229	9	using	use	VERB
emaj-190	229	10	net	net	ADJ
emaj-190	229	11	tc	tc	NOUN
emaj-190	229	12	balance	balance	NOUN
emaj-190	229	13	:	:	PUNCT
emaj-190	229	14	firms	firm	NOUN
emaj-190	229	15	with	with	ADP
emaj-190	229	16	average	average	ADJ
emaj-190	229	17	net	net	ADJ
emaj-190	229	18	positive	positive	ADJ
emaj-190	229	19	tc	tc	NOUN
emaj-190	229	20	(	(	PUNCT
emaj-190	229	21	received	receive	VERB
emaj-190	229	22	tc	tc	NUM
emaj-190	229	23	minus	minus	NOUN
emaj-190	229	24	supplied	supply	VERB
emaj-190	229	25	tc	tc	NOUN
emaj-190	229	26	)	)	PUNCT
emaj-190	229	27	and	and	CCONJ
emaj-190	229	28	firms	firm	NOUN
emaj-190	229	29	with	with	ADP
emaj-190	229	30	average	average	ADJ
emaj-190	229	31	net	net	ADJ
emaj-190	229	32	negative	negative	ADJ
emaj-190	229	33	tc	tc	NOUN
emaj-190	229	34	.	.	PUNCT
emaj-190	230	1	financial	financial	ADJ
emaj-190	230	2	aspect	aspect	NOUN
emaj-190	230	3	of	of	ADP
emaj-190	230	4	tc	tc	NUM
emaj-190	230	5	and	and	CCONJ
emaj-190	230	6	its	its	PRON
emaj-190	230	7	importance	importance	NOUN
emaj-190	230	8	for	for	ADP
emaj-190	230	9	small	small	ADJ
emaj-190	230	10	firms	firm	NOUN
emaj-190	230	11	have	have	AUX
emaj-190	230	12	been	be	AUX
emaj-190	230	13	documented	document	VERB
emaj-190	230	14	by	by	ADP
emaj-190	230	15	early	early	ADJ
emaj-190	230	16	studies	study	NOUN
emaj-190	230	17	(	(	PUNCT
emaj-190	230	18	long	long	ADV
emaj-190	230	19	,	,	PUNCT
emaj-190	230	20	malitz	malitz	PROPN
emaj-190	230	21	&	&	CCONJ
emaj-190	230	22	ravid	ravid	PROPN
emaj-190	230	23	.	.	PROPN
emaj-190	230	24	,	,	PUNCT
emaj-190	230	25	1993	1993	NUM
emaj-190	230	26	;	;	PUNCT
emaj-190	230	27	petersen	petersen	PROPN
emaj-190	230	28	&	&	CCONJ
emaj-190	230	29	rajan	rajan	PROPN
emaj-190	230	30	,	,	PUNCT
emaj-190	230	31	1997	1997	NUM
emaj-190	230	32	)	)	PUNCT
emaj-190	230	33	.	.	PUNCT
emaj-190	231	1	hence	hence	ADV
emaj-190	231	2	,	,	PUNCT
emaj-190	231	3	net	net	ADJ
emaj-190	231	4	balance	balance	NOUN
emaj-190	231	5	of	of	ADP
emaj-190	231	6	tc	tc	NOUN
emaj-190	231	7	is	be	AUX
emaj-190	231	8	used	use	VERB
emaj-190	231	9	to	to	PART
emaj-190	231	10	re	re	VERB
emaj-190	231	11	-	-	VERB
emaj-190	231	12	classify	classify	VERB
emaj-190	231	13	firms	firm	NOUN
emaj-190	231	14	with	with	ADP
emaj-190	231	15	the	the	DET
emaj-190	231	16	objective	objective	NOUN
emaj-190	231	17	that	that	SCONJ
emaj-190	231	18	financial	financial	ADJ
emaj-190	231	19	aspect	aspect	NOUN
emaj-190	231	20	of	of	ADP
emaj-190	231	21	it	it	PRON
emaj-190	231	22	may	may	AUX
emaj-190	231	23	offer	offer	VERB
emaj-190	231	24	valuable	valuable	ADJ
emaj-190	231	25	insight	insight	NOUN
emaj-190	231	26	into	into	ADP
emaj-190	231	27	the	the	DET
emaj-190	231	28	leverage	leverage	NOUN
emaj-190	231	29	decisions	decision	NOUN
emaj-190	231	30	.	.	PUNCT
emaj-190	232	1	the	the	DET
emaj-190	232	2	average	average	NOUN
emaj-190	232	3	of	of	ADP
emaj-190	232	4	net	net	ADJ
emaj-190	232	5	tc	tc	NOUN
emaj-190	232	6	balance	balance	NOUN
emaj-190	232	7	over	over	ADP
emaj-190	232	8	21	21	NUM
emaj-190	232	9	years	year	NOUN
emaj-190	232	10	is	be	AUX
emaj-190	232	11	used	use	VERB
emaj-190	232	12	to	to	PART
emaj-190	232	13	separate	separate	VERB
emaj-190	232	14	the	the	DET
emaj-190	232	15	firms	firm	NOUN
emaj-190	232	16	,	,	PUNCT
emaj-190	232	17	because	because	SCONJ
emaj-190	232	18	year	year	NOUN
emaj-190	232	19	to	to	ADP
emaj-190	232	20	year	year	NOUN
emaj-190	232	21	changes	change	NOUN
emaj-190	232	22	may	may	AUX
emaj-190	232	23	not	not	PART
emaj-190	232	24	provide	provide	VERB
emaj-190	232	25	reliable	reliable	ADJ
emaj-190	232	26	information	information	NOUN
emaj-190	232	27	about	about	ADP
emaj-190	232	28	their	their	PRON
emaj-190	232	29	financial	financial	ADJ
emaj-190	232	30	position	position	NOUN
emaj-190	232	31	.	.	PUNCT
emaj-190	233	1	however	however	ADV
emaj-190	233	2	,	,	PUNCT
emaj-190	233	3	the	the	DET
emaj-190	233	4	average	average	NOUN
emaj-190	233	5	of	of	ADP
emaj-190	233	6	21	21	NUM
emaj-190	233	7	years	year	NOUN
emaj-190	233	8	is	be	AUX
emaj-190	233	9	more	more	ADV
emaj-190	233	10	likely	likely	ADJ
emaj-190	233	11	to	to	PART
emaj-190	233	12	lead	lead	VERB
emaj-190	233	13	to	to	ADP
emaj-190	233	14	conclusive	conclusive	ADJ
emaj-190	233	15	results	result	NOUN
emaj-190	233	16	.	.	PUNCT
emaj-190	234	1	thus	thus	ADV
emaj-190	234	2	,	,	PUNCT
emaj-190	234	3	their	their	PRON
emaj-190	234	4	borrowing	borrowing	NOUN
emaj-190	234	5	reaction	reaction	NOUN
emaj-190	234	6	to	to	ADP
emaj-190	234	7	capital	capital	NOUN
emaj-190	234	8	flow	flow	NOUN
emaj-190	234	9	and	and	CCONJ
emaj-190	234	10	expansionary	expansionary	ADJ
emaj-190	234	11	mp	mp	NOUN
emaj-190	234	12	would	would	AUX
emaj-190	234	13	not	not	PART
emaj-190	234	14	only	only	ADV
emaj-190	234	15	contribute	contribute	VERB
emaj-190	234	16	to	to	ADP
emaj-190	234	17	better	well	ADJ
emaj-190	234	18	understanding	understanding	NOUN
emaj-190	234	19	of	of	ADP
emaj-190	234	20	the	the	DET
emaj-190	234	21	financing	financing	NOUN
emaj-190	234	22	patterns	pattern	NOUN
emaj-190	234	23	,	,	PUNCT
emaj-190	234	24	but	but	CCONJ
emaj-190	234	25	also	also	ADV
emaj-190	234	26	help	help	VERB
emaj-190	234	27	to	to	PART
emaj-190	234	28	improve	improve	VERB
emaj-190	234	29	efficiency	efficiency	NOUN
emaj-190	234	30	of	of	ADP
emaj-190	234	31	the	the	DET
emaj-190	234	32	analysis	analysis	NOUN
emaj-190	234	33	.	.	PUNCT
emaj-190	235	1	the	the	DET
emaj-190	235	2	results	result	NOUN
emaj-190	235	3	are	be	AUX
emaj-190	235	4	presented	present	VERB
emaj-190	235	5	in	in	ADP
emaj-190	235	6	table	table	NOUN
emaj-190	235	7	6	6	NUM
emaj-190	235	8	.	.	PUNCT
emaj-190	236	1	findings	finding	NOUN
emaj-190	236	2	in	in	ADP
emaj-190	236	3	previous	previous	ADJ
emaj-190	236	4	studies	study	NOUN
emaj-190	236	5	suggest	suggest	VERB
emaj-190	236	6	that	that	SCONJ
emaj-190	236	7	,	,	PUNCT
emaj-190	236	8	offering	offer	VERB
emaj-190	236	9	more	more	ADJ
emaj-190	236	10	tc	tc	NOUN
emaj-190	236	11	requires	require	VERB
emaj-190	236	12	more	more	ADJ
emaj-190	236	13	liquidity	liquidity	NOUN
emaj-190	236	14	and	and	CCONJ
emaj-190	236	15	consequently	consequently	ADV
emaj-190	236	16	negative	negative	ADJ
emaj-190	236	17	tc	tc	INTJ
emaj-190	236	18	(	(	PUNCT
emaj-190	236	19	since	since	SCONJ
emaj-190	236	20	they	they	PRON
emaj-190	236	21	supply	supply	VERB
emaj-190	236	22	more	more	ADJ
emaj-190	236	23	tc	tc	NOUN
emaj-190	236	24	than	than	SCONJ
emaj-190	236	25	they	they	PRON
emaj-190	236	26	receive	receive	VERB
emaj-190	236	27	)	)	PUNCT
emaj-190	236	28	firms	firm	NOUN
emaj-190	236	29	are	be	AUX
emaj-190	236	30	financially	financially	ADV
emaj-190	236	31	stronger	strong	ADJ
emaj-190	236	32	and	and	CCONJ
emaj-190	236	33	might	might	AUX
emaj-190	236	34	be	be	AUX
emaj-190	236	35	less	less	ADV
emaj-190	236	36	sensitive	sensitive	ADJ
emaj-190	236	37	to	to	ADP
emaj-190	236	38	general	general	ADJ
emaj-190	236	39	credit	credit	NOUN
emaj-190	236	40	conditions	condition	NOUN
emaj-190	236	41	.	.	PUNCT
emaj-190	237	1	despite	despite	SCONJ
emaj-190	237	2	that	that	DET
emaj-190	237	3	expectation	expectation	NOUN
emaj-190	237	4	,	,	PUNCT
emaj-190	237	5	negative	negative	ADJ
emaj-190	237	6	tc	tc	NOUN
emaj-190	237	7	firms	firm	NOUN
emaj-190	237	8	appear	appear	VERB
emaj-190	237	9	to	to	PART
emaj-190	237	10	be	be	AUX
emaj-190	237	11	more	more	ADV
emaj-190	237	12	sensitive	sensitive	ADJ
emaj-190	237	13	to	to	ADP
emaj-190	237	14	monetary	monetary	ADJ
emaj-190	237	15	conditions	condition	NOUN
emaj-190	237	16	.	.	PUNCT
emaj-190	238	1	the	the	DET
emaj-190	238	2	reason	reason	NOUN
emaj-190	238	3	is	be	AUX
emaj-190	238	4	that	that	SCONJ
emaj-190	238	5	,	,	PUNCT
emaj-190	238	6	marginal	marginal	ADJ
emaj-190	238	7	effect	effect	NOUN
emaj-190	238	8	of	of	ADP
emaj-190	238	9	both	both	DET
emaj-190	238	10	mp	mp	PROPN
emaj-190	238	11	and	and	CCONJ
emaj-190	238	12	fc	fc	PROPN
emaj-190	238	13	is	be	AUX
emaj-190	238	14	greater	great	ADJ
emaj-190	238	15	,	,	PUNCT
emaj-190	238	16	pointing	point	VERB
emaj-190	238	17	to	to	ADP
emaj-190	238	18	a	a	DET
emaj-190	238	19	possibility	possibility	NOUN
emaj-190	238	20	that	that	SCONJ
emaj-190	238	21	these	these	DET
emaj-190	238	22	financially	financially	ADV
emaj-190	238	23	challenged	challenge	VERB
emaj-190	238	24	smes	sme	NOUN
emaj-190	238	25	finance	finance	NOUN
emaj-190	238	26	tc	tc	NOUN
emaj-190	238	27	supply	supply	NOUN
emaj-190	238	28	by	by	ADP
emaj-190	238	29	borrowing	borrow	VERB
emaj-190	238	30	from	from	ADP
emaj-190	238	31	conventional	conventional	ADJ
emaj-190	238	32	sources	source	NOUN
emaj-190	238	33	.	.	PUNCT
emaj-190	239	1	both	both	PRON
emaj-190	239	2	fc	fc	PROPN
emaj-190	239	3	and	and	CCONJ
emaj-190	239	4	mp	mp	PROPN
emaj-190	239	5	are	be	AUX
emaj-190	239	6	highly	highly	ADV
emaj-190	239	7	significant	significant	ADJ
emaj-190	239	8	and	and	CCONJ
emaj-190	239	9	positive	positive	ADJ
emaj-190	239	10	for	for	ADP
emaj-190	239	11	negative	negative	ADJ
emaj-190	239	12	tc	tc	NOUN
emaj-190	239	13	firms	firm	NOUN
emaj-190	239	14	.	.	PUNCT
emaj-190	240	1	on	on	ADP
emaj-190	240	2	the	the	DET
emaj-190	240	3	other	other	ADJ
emaj-190	240	4	hand	hand	NOUN
emaj-190	240	5	,	,	PUNCT
emaj-190	240	6	positive	positive	ADJ
emaj-190	240	7	tc	tc	NOUN
emaj-190	240	8	firms	firm	NOUN
emaj-190	240	9	demonstrate	demonstrate	VERB
emaj-190	240	10	similar	similar	ADJ
emaj-190	240	11	sensitivity	sensitivity	NOUN
emaj-190	240	12	toward	toward	ADP
emaj-190	240	13	mp	mp	PROPN
emaj-190	240	14	.	.	PUNCT
emaj-190	241	1	but	but	CCONJ
emaj-190	241	2	for	for	ADP
emaj-190	241	3	fc	fc	PROPN
emaj-190	241	4	,	,	PUNCT
emaj-190	241	5	only	only	ADV
emaj-190	241	6	lagged	lag	VERB
emaj-190	241	7	coefficient	coefficient	NOUN
emaj-190	241	8	is	be	AUX
emaj-190	241	9	significant	significant	ADJ
emaj-190	241	10	,	,	PUNCT
emaj-190	241	11	as	as	SCONJ
emaj-190	241	12	is	be	AUX
emaj-190	241	13	the	the	DET
emaj-190	241	14	case	case	NOUN
emaj-190	241	15	with	with	ADP
emaj-190	241	16	larger	large	ADJ
emaj-190	241	17	and	and	CCONJ
emaj-190	241	18	publicly	publicly	ADV
emaj-190	241	19	traded	trade	VERB
emaj-190	241	20	firms	firm	NOUN
emaj-190	241	21	.	.	PUNCT
emaj-190	242	1	thus	thus	ADV
emaj-190	242	2	,	,	PUNCT
emaj-190	242	3	they	they	PRON
emaj-190	242	4	are	be	AUX
emaj-190	242	5	less	less	ADV
emaj-190	242	6	sensitive	sensitive	ADJ
emaj-190	242	7	to	to	ADP
emaj-190	242	8	14currency	14currency	NUM
emaj-190	242	9	growth	growth	NOUN
emaj-190	242	10	variable	variable	NOUN
emaj-190	242	11	is	be	AUX
emaj-190	242	12	calculated	calculate	VERB
emaj-190	242	13	using	use	VERB
emaj-190	242	14	currency	currency	NOUN
emaj-190	242	15	basket	basket	NOUN
emaj-190	242	16	,	,	PUNCT
emaj-190	242	17	consists	consist	VERB
emaj-190	242	18	of	of	ADP
emaj-190	242	19	50	50	NUM
emaj-190	242	20	percent	percent	NOUN
emaj-190	242	21	usd	usd	NOUN
emaj-190	242	22	/	/	SYM
emaj-190	242	23	tl	tl	PROPN
emaj-190	242	24	plus	plus	CCONJ
emaj-190	242	25	50	50	NUM
emaj-190	242	26	percent	percent	NOUN
emaj-190	242	27	eur	eur	PROPN
emaj-190	242	28	/	/	SYM
emaj-190	242	29	tl	tl	PROPN
emaj-190	242	30	exchange	exchange	NOUN
emaj-190	242	31	rate	rate	NOUN
emaj-190	242	32	.	.	PUNCT
emaj-190	243	1	fc	fc	PROPN
emaj-190	243	2	’s	’s	PART
emaj-190	243	3	entrance	entrance	NOUN
emaj-190	243	4	to	to	ADP
emaj-190	243	5	the	the	DET
emaj-190	243	6	economy	economy	NOUN
emaj-190	243	7	.	.	PUNCT
emaj-190	244	1	marginal	marginal	ADJ
emaj-190	244	2	effect	effect	NOUN
emaj-190	244	3	of	of	ADP
emaj-190	244	4	mp	mp	PROPN
emaj-190	244	5	for	for	ADP
emaj-190	244	6	negative	negative	ADJ
emaj-190	244	7	tc	tc	NOUN
emaj-190	244	8	firms	firm	NOUN
emaj-190	244	9	is	be	AUX
emaj-190	244	10	1.5	1.5	NUM
emaj-190	244	11	times	time	NOUN
emaj-190	244	12	greater	great	ADJ
emaj-190	244	13	than	than	SCONJ
emaj-190	244	14	it	it	PRON
emaj-190	244	15	is	be	AUX
emaj-190	244	16	on	on	ADP
emaj-190	244	17	positive	positive	ADJ
emaj-190	244	18	tc	tc	NOUN
emaj-190	244	19	firms	firm	NOUN
emaj-190	244	20	.	.	PUNCT
emaj-190	245	1	the	the	DET
emaj-190	245	2	lack	lack	NOUN
emaj-190	245	3	of	of	ADP
emaj-190	245	4	competitive	competitive	ADJ
emaj-190	245	5	edge	edge	NOUN
emaj-190	245	6	and	and	CCONJ
emaj-190	245	7	the	the	DET
emaj-190	245	8	goal	goal	NOUN
emaj-190	245	9	of	of	ADP
emaj-190	245	10	creating	create	VERB
emaj-190	245	11	larger	large	ADJ
emaj-190	245	12	costumer	costumer	NOUN
emaj-190	245	13	base	base	NOUN
emaj-190	245	14	among	among	ADP
emaj-190	245	15	smes	sme	NOUN
emaj-190	245	16	may	may	AUX
emaj-190	245	17	be	be	AUX
emaj-190	245	18	encouraging	encourage	VERB
emaj-190	245	19	them	they	PRON
emaj-190	245	20	to	to	PART
emaj-190	245	21	supply	supply	VERB
emaj-190	245	22	more	more	ADJ
emaj-190	245	23	tc	tc	NOUN
emaj-190	245	24	,	,	PUNCT
emaj-190	245	25	which	which	PRON
emaj-190	245	26	may	may	AUX
emaj-190	245	27	be	be	AUX
emaj-190	245	28	financed	finance	VERB
emaj-190	245	29	via	via	ADP
emaj-190	245	30	borrowed	borrow	VERB
emaj-190	245	31	funds	fund	NOUN
emaj-190	245	32	.	.	PUNCT
emaj-190	246	1	the	the	DET
emaj-190	246	2	interpretation	interpretation	NOUN
emaj-190	246	3	of	of	ADP
emaj-190	246	4	the	the	DET
emaj-190	246	5	findings	finding	NOUN
emaj-190	246	6	is	be	AUX
emaj-190	246	7	consistent	consistent	ADJ
emaj-190	246	8	with	with	ADP
emaj-190	246	9	studies	study	NOUN
emaj-190	246	10	focusing	focus	VERB
emaj-190	246	11	on	on	ADP
emaj-190	246	12	tc	tc	NUM
emaj-190	246	13	such	such	ADJ
emaj-190	246	14	as	as	ADP
emaj-190	246	15	long	long	ADJ
emaj-190	246	16	et	et	PROPN
emaj-190	246	17	al	al	PROPN
emaj-190	246	18	.	.	PROPN
emaj-190	246	19	,	,	PUNCT
emaj-190	246	20	(	(	PUNCT
emaj-190	246	21	1993	1993	NUM
emaj-190	246	22	)	)	PUNCT
emaj-190	246	23	;	;	PUNCT
emaj-190	246	24	kim	kim	PROPN
emaj-190	246	25	and	and	CCONJ
emaj-190	246	26	choi	choi	PROPN
emaj-190	246	27	,	,	PUNCT
emaj-190	246	28	2003)15	2003)15	NUM
emaj-190	246	29	.	.	PUNCT
emaj-190	247	1	however	however	ADV
emaj-190	247	2	,	,	PUNCT
emaj-190	247	3	in	in	ADP
emaj-190	247	4	order	order	NOUN
emaj-190	247	5	to	to	PART
emaj-190	247	6	stay	stay	VERB
emaj-190	247	7	within	within	ADP
emaj-190	247	8	the	the	DET
emaj-190	247	9	scope	scope	NOUN
emaj-190	247	10	of	of	ADP
emaj-190	247	11	the	the	DET
emaj-190	247	12	study	study	NOUN
emaj-190	247	13	,	,	PUNCT
emaj-190	247	14	this	this	DET
emaj-190	247	15	point	point	NOUN
emaj-190	247	16	is	be	AUX
emaj-190	247	17	not	not	PART
emaj-190	247	18	further	far	ADV
emaj-190	247	19	pursued	pursue	VERB
emaj-190	247	20	.	.	PUNCT
emaj-190	248	1	in	in	ADP
emaj-190	248	2	sum	sum	NOUN
emaj-190	248	3	both	both	DET
emaj-190	248	4	coefficients	coefficient	NOUN
emaj-190	248	5	,	,	PUNCT
emaj-190	248	6	mp	mp	PROPN
emaj-190	248	7	and	and	CCONJ
emaj-190	248	8	fc	fc	PROPN
emaj-190	248	9	,	,	PUNCT
emaj-190	248	10	indicate	indicate	VERB
emaj-190	248	11	positive	positive	ADJ
emaj-190	248	12	and	and	CCONJ
emaj-190	248	13	significant	significant	ADJ
emaj-190	248	14	effect	effect	NOUN
emaj-190	248	15	on	on	ADP
emaj-190	248	16	leverage	leverage	NOUN
emaj-190	248	17	decision	decision	NOUN
emaj-190	248	18	of	of	ADP
emaj-190	248	19	both	both	DET
emaj-190	248	20	groups	group	NOUN
emaj-190	248	21	.	.	PUNCT
emaj-190	249	1	table	table	NOUN
emaj-190	249	2	5	5	NUM
emaj-190	249	3	:	:	PUNCT
emaj-190	249	4	fixed	fix	VERB
emaj-190	249	5	effect	effect	NOUN
emaj-190	249	6	analysis	analysis	NOUN
emaj-190	249	7	on	on	ADP
emaj-190	249	8	financial	financial	ADJ
emaj-190	249	9	debt	debt	NOUN
emaj-190	249	10	with	with	ADP
emaj-190	249	11	additional	additional	ADJ
emaj-190	249	12	macro	macro	ADJ
emaj-190	249	13	variables	variable	NOUN
emaj-190	249	14	table	table	NOUN
emaj-190	249	15	6	6	NUM
emaj-190	249	16	:	:	PUNCT
emaj-190	249	17	fixed	fix	VERB
emaj-190	249	18	effect	effect	NOUN
emaj-190	249	19	analysis	analysis	NOUN
emaj-190	249	20	on	on	ADP
emaj-190	249	21	financial	financial	ADJ
emaj-190	249	22	debtbased	debtbase	VERB
emaj-190	249	23	on	on	ADP
emaj-190	249	24	tc	tc	NUM
emaj-190	249	25	balance	balance	NOUN
emaj-190	249	26	v.	v.	ADP
emaj-190	249	27	conclusion	conclusion	NOUN
emaj-190	249	28	the	the	DET
emaj-190	249	29	data	datum	NOUN
emaj-190	249	30	and	and	CCONJ
emaj-190	249	31	the	the	DET
emaj-190	249	32	empirical	empirical	ADJ
emaj-190	249	33	findings	finding	NOUN
emaj-190	249	34	reveal	reveal	VERB
emaj-190	249	35	the	the	DET
emaj-190	249	36	importance	importance	NOUN
emaj-190	249	37	of	of	ADP
emaj-190	249	38	foreign	foreign	ADJ
emaj-190	249	39	savings	saving	NOUN
emaj-190	249	40	by	by	ADP
emaj-190	249	41	demonstrating	demonstrate	VERB
emaj-190	249	42	that	that	SCONJ
emaj-190	249	43	it	it	PRON
emaj-190	249	44	contributes	contribute	VERB
emaj-190	249	45	to	to	ADP
emaj-190	249	46	financing	finance	VERB
emaj-190	249	47	non	non	ADJ
emaj-190	249	48	-	-	ADJ
emaj-190	249	49	financial	financial	ADJ
emaj-190	249	50	sector	sector	NOUN
emaj-190	249	51	.	.	PUNCT
emaj-190	250	1	however	however	ADV
emaj-190	250	2	,	,	PUNCT
emaj-190	250	3	excess	excess	ADJ
emaj-190	250	4	supply	supply	NOUN
emaj-190	250	5	of	of	ADP
emaj-190	250	6	credit	credit	NOUN
emaj-190	250	7	can	can	AUX
emaj-190	250	8	result	result	VERB
emaj-190	250	9	in	in	ADP
emaj-190	250	10	excessive	excessive	ADJ
emaj-190	250	11	leverage	leverage	NOUN
emaj-190	250	12	and	and	CCONJ
emaj-190	250	13	the	the	DET
emaj-190	250	14	related	related	ADJ
emaj-190	250	15	vulnerabilities	vulnerability	NOUN
emaj-190	250	16	,	,	PUNCT
emaj-190	250	17	as	as	SCONJ
emaj-190	250	18	experienced	experience	VERB
emaj-190	250	19	recently	recently	ADV
emaj-190	250	20	.	.	PUNCT
emaj-190	251	1	since	since	SCONJ
emaj-190	251	2	the	the	DET
emaj-190	251	3	cbrt	cbrt	PROPN
emaj-190	251	4	has	have	VERB
emaj-190	251	5	no	no	DET
emaj-190	251	6	influence	influence	NOUN
emaj-190	251	7	on	on	ADP
emaj-190	251	8	foreign	foreign	ADJ
emaj-190	251	9	mp	mp	PROPN
emaj-190	251	10	choices	choice	NOUN
emaj-190	251	11	,	,	PUNCT
emaj-190	251	12	it	it	PRON
emaj-190	251	13	implies	imply	VERB
emaj-190	251	14	that	that	SCONJ
emaj-190	251	15	as	as	SCONJ
emaj-190	251	16	the	the	DET
emaj-190	251	17	real	real	ADJ
emaj-190	251	18	sector	sector	NOUN
emaj-190	251	19	’s	’s	PART
emaj-190	251	20	dependence	dependence	NOUN
emaj-190	251	21	on	on	ADP
emaj-190	251	22	foreign	foreign	ADJ
emaj-190	251	23	capital	capital	NOUN
emaj-190	251	24	for	for	ADP
emaj-190	251	25	financing	financing	NOUN
emaj-190	251	26	continues	continue	VERB
emaj-190	251	27	,	,	PUNCT
emaj-190	251	28	business	business	NOUN
emaj-190	251	29	operations	operation	NOUN
emaj-190	251	30	such	such	ADJ
emaj-190	251	31	as	as	ADP
emaj-190	251	32	borrowing	borrowing	NOUN
emaj-190	251	33	and	and	CCONJ
emaj-190	251	34	investment	investment	NOUN
emaj-190	251	35	,	,	PUNCT
emaj-190	251	36	and	and	CCONJ
emaj-190	251	37	naturally	naturally	ADV
emaj-190	251	38	growth	growth	NOUN
emaj-190	251	39	may	may	AUX
emaj-190	251	40	be	be	AUX
emaj-190	251	41	vulnerable	vulnerable	ADJ
emaj-190	251	42	to	to	ADP
emaj-190	251	43	foreign	foreign	ADJ
emaj-190	251	44	country	country	NOUN
emaj-190	251	45	policy	policy	NOUN
emaj-190	251	46	shocks	shock	NOUN
emaj-190	251	47	.	.	PUNCT
emaj-190	252	1	15they	15they	PRON
emaj-190	252	2	find	find	VERB
emaj-190	252	3	that	that	SCONJ
emaj-190	252	4	small	small	ADJ
emaj-190	252	5	firms	firm	NOUN
emaj-190	252	6	offer	offer	VERB
emaj-190	252	7	more	more	ADJ
emaj-190	252	8	tc	tc	NOUN
emaj-190	252	9	to	to	PART
emaj-190	252	10	increase	increase	VERB
emaj-190	252	11	sales	sale	NOUN
emaj-190	252	12	and	and	CCONJ
emaj-190	252	13	stay	stay	VERB
emaj-190	252	14	competitive	competitive	ADJ
emaj-190	252	15	.	.	PUNCT
emaj-190	253	1	long	long	ADV
emaj-190	253	2	et	et	PROPN
emaj-190	253	3	al	al	PROPN
emaj-190	253	4	.	.	PROPN
emaj-190	253	5	,	,	PUNCT
emaj-190	253	6	(	(	PUNCT
emaj-190	253	7	1993	1993	NUM
emaj-190	253	8	)	)	PUNCT
emaj-190	253	9	argues	argue	VERB
emaj-190	253	10	that	that	SCONJ
emaj-190	253	11	small	small	ADJ
emaj-190	253	12	firms	firm	NOUN
emaj-190	253	13	lack	lack	VERB
emaj-190	253	14	the	the	DET
emaj-190	253	15	reputation	reputation	NOUN
emaj-190	253	16	,	,	PUNCT
emaj-190	253	17	which	which	PRON
emaj-190	253	18	large	large	ADJ
emaj-190	253	19	firms	firm	NOUN
emaj-190	253	20	have	have	AUX
emaj-190	253	21	built	build	VERB
emaj-190	253	22	over	over	ADP
emaj-190	253	23	time	time	NOUN
emaj-190	253	24	,	,	PUNCT
emaj-190	253	25	therefore	therefore	ADV
emaj-190	253	26	their	their	PRON
emaj-190	253	27	product	product	NOUN
emaj-190	253	28	quality	quality	NOUN
emaj-190	253	29	is	be	AUX
emaj-190	253	30	subject	subject	ADJ
emaj-190	253	31	to	to	ADP
emaj-190	253	32	verification	verification	NOUN
emaj-190	253	33	and	and	CCONJ
emaj-190	253	34	requires	require	VERB
emaj-190	253	35	extra	extra	ADJ
emaj-190	253	36	tc	tc	NOUN
emaj-190	253	37	offering	offering	NOUN
emaj-190	253	38	.	.	PUNCT
emaj-190	254	1	volume	volume	NOUN
emaj-190	254	2	10	10	NUM
emaj-190	254	3	no	no	DET
emaj-190	254	4	1	1	NUM
emaj-190	254	5	(	(	PUNCT
emaj-190	254	6	2020	2020	NUM
emaj-190	254	7	)	)	PUNCT
emaj-190	254	8	|	|	ADV
emaj-190	254	9	issn	issn	VERB
emaj-190	254	10	2158	2158	NUM
emaj-190	254	11	-	-	SYM
emaj-190	254	12	8708	8708	NUM
emaj-190	254	13	(	(	PUNCT
emaj-190	254	14	online	online	NOUN
emaj-190	254	15	)	)	PUNCT
emaj-190	254	16	|	|	ADV
emaj-190	254	17	doi	doi	X
emaj-190	254	18	10.5195	10.5195	NUM
emaj-190	254	19	/	/	SYM
emaj-190	254	20	emaj.2020.190	emaj.2020.190	ADJ
emaj-190	254	21	|	|	NOUN
emaj-190	254	22	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	254	23	foreign	foreign	ADJ
emaj-190	254	24	capital	capital	NOUN
emaj-190	254	25	,	,	PUNCT
emaj-190	254	26	real	real	ADJ
emaj-190	254	27	sector	sector	NOUN
emaj-190	254	28	financing	financing	NOUN
emaj-190	254	29	and	and	CCONJ
emaj-190	254	30	excessive	excessive	ADJ
emaj-190	254	31	leverage	leverage	NOUN
emaj-190	254	32	in	in	ADP
emaj-190	254	33	turkey	turkey	NOUN
emaj-190	254	34	:	:	PUNCT
emaj-190	254	35	what	what	PRON
emaj-190	254	36	went	go	VERB
emaj-190	254	37	wrong	wrong	ADJ
emaj-190	254	38	?	?	PUNCT
emaj-190	255	1	page	page	NOUN
emaj-190	255	2	|38|	|38|	ADJ
emaj-190	255	3	emerging	emerge	VERB
emaj-190	255	4	markets	market	NOUN
emaj-190	255	5	journal	journal	NOUN
emaj-190	255	6	foreign	foreign	ADJ
emaj-190	255	7	capital	capital	NOUN
emaj-190	255	8	though	though	ADV
emaj-190	255	9	seems	seem	VERB
emaj-190	255	10	to	to	PART
emaj-190	255	11	have	have	AUX
emaj-190	255	12	benefited	benefit	VERB
emaj-190	255	13	the	the	DET
emaj-190	255	14	real	real	ADJ
emaj-190	255	15	sector	sector	NOUN
emaj-190	255	16	by	by	ADP
emaj-190	255	17	providing	provide	VERB
emaj-190	255	18	financing	financing	NOUN
emaj-190	255	19	.	.	PUNCT
emaj-190	256	1	but	but	CCONJ
emaj-190	256	2	,	,	PUNCT
emaj-190	256	3	it	it	PRON
emaj-190	256	4	can	can	AUX
emaj-190	256	5	lead	lead	VERB
emaj-190	256	6	to	to	ADP
emaj-190	256	7	a	a	DET
emaj-190	256	8	credit	credit	NOUN
emaj-190	256	9	boom	boom	NOUN
emaj-190	256	10	which	which	PRON
emaj-190	256	11	may	may	AUX
emaj-190	256	12	end	end	VERB
emaj-190	256	13	with	with	ADP
emaj-190	256	14	a	a	DET
emaj-190	256	15	bust	bust	NOUN
emaj-190	256	16	.	.	PUNCT
emaj-190	257	1	therefore	therefore	ADV
emaj-190	257	2	,	,	PUNCT
emaj-190	257	3	it	it	PRON
emaj-190	257	4	is	be	AUX
emaj-190	257	5	necessary	necessary	ADJ
emaj-190	257	6	for	for	SCONJ
emaj-190	257	7	monetary	monetary	ADJ
emaj-190	257	8	authorities	authority	NOUN
emaj-190	257	9	to	to	PART
emaj-190	257	10	take	take	VERB
emaj-190	257	11	cautionary	cautionary	ADJ
emaj-190	257	12	steps	step	NOUN
emaj-190	257	13	aiming	aim	VERB
emaj-190	257	14	at	at	ADP
emaj-190	257	15	providing	provide	VERB
emaj-190	257	16	long	long	ADJ
emaj-190	257	17	term	term	NOUN
emaj-190	257	18	solutions	solution	NOUN
emaj-190	257	19	to	to	ADP
emaj-190	257	20	financing	financing	NOUN
emaj-190	257	21	issues	issue	NOUN
emaj-190	257	22	of	of	ADP
emaj-190	257	23	smes	sme	NOUN
emaj-190	257	24	;	;	PUNCT
emaj-190	257	25	hence	hence	ADV
emaj-190	257	26	they	they	PRON
emaj-190	257	27	are	be	AUX
emaj-190	257	28	not	not	PART
emaj-190	257	29	tempted	tempt	VERB
emaj-190	257	30	to	to	PART
emaj-190	257	31	take	take	VERB
emaj-190	257	32	advantage	advantage	NOUN
emaj-190	257	33	of	of	ADP
emaj-190	257	34	loose	loose	ADJ
emaj-190	257	35	monetary	monetary	ADJ
emaj-190	257	36	conditions	condition	NOUN
emaj-190	257	37	.	.	PUNCT
emaj-190	258	1	most	most	ADJ
emaj-190	258	2	firms	firm	NOUN
emaj-190	258	3	,	,	PUNCT
emaj-190	258	4	borrowing	borrow	VERB
emaj-190	258	5	in	in	ADP
emaj-190	258	6	a	a	DET
emaj-190	258	7	foreign	foreign	ADJ
emaj-190	258	8	currency	currency	NOUN
emaj-190	258	9	have	have	VERB
emaj-190	258	10	little	little	ADJ
emaj-190	258	11	revenue	revenue	NOUN
emaj-190	258	12	denominated	denominate	VERB
emaj-190	258	13	in	in	ADP
emaj-190	258	14	the	the	DET
emaj-190	258	15	same	same	ADJ
emaj-190	258	16	foreign	foreign	ADJ
emaj-190	258	17	currency	currency	NOUN
emaj-190	258	18	,	,	PUNCT
emaj-190	258	19	which	which	PRON
emaj-190	258	20	significantly	significantly	ADV
emaj-190	258	21	increases	increase	VERB
emaj-190	258	22	their	their	PRON
emaj-190	258	23	exposure	exposure	NOUN
emaj-190	258	24	.	.	PUNCT
emaj-190	259	1	therefore	therefore	ADV
emaj-190	259	2	,	,	PUNCT
emaj-190	259	3	real	real	ADJ
emaj-190	259	4	sector	sector	NOUN
emaj-190	259	5	’s	’s	PART
emaj-190	259	6	leverage	leverage	NOUN
emaj-190	259	7	decision	decision	NOUN
emaj-190	259	8	should	should	AUX
emaj-190	259	9	be	be	AUX
emaj-190	259	10	regulated	regulate	VERB
emaj-190	259	11	and	and	CCONJ
emaj-190	259	12	monitored	monitor	VERB
emaj-190	259	13	.	.	PUNCT
emaj-190	260	1	this	this	PRON
emaj-190	260	2	is	be	AUX
emaj-190	260	3	particularly	particularly	ADV
emaj-190	260	4	true	true	ADJ
emaj-190	260	5	for	for	ADP
emaj-190	260	6	borrowing	borrow	VERB
emaj-190	260	7	in	in	ADP
emaj-190	260	8	a	a	DET
emaj-190	260	9	foreign	foreign	ADJ
emaj-190	260	10	currency	currency	NOUN
emaj-190	260	11	,	,	PUNCT
emaj-190	260	12	while	while	SCONJ
emaj-190	260	13	allowing	allow	VERB
emaj-190	260	14	reasonable	reasonable	ADJ
emaj-190	260	15	financial	financial	ADJ
emaj-190	260	16	flexibility	flexibility	NOUN
emaj-190	260	17	to	to	PART
emaj-190	260	18	maintain	maintain	VERB
emaj-190	260	19	a	a	DET
emaj-190	260	20	healthy	healthy	ADJ
emaj-190	260	21	growth	growth	NOUN
emaj-190	260	22	level	level	NOUN
emaj-190	260	23	is	be	AUX
emaj-190	260	24	a	a	DET
emaj-190	260	25	must	must	NOUN
emaj-190	260	26	.	.	PUNCT
emaj-190	261	1	references	reference	NOUN
emaj-190	261	2	abdulla	abdulla	PROPN
emaj-190	261	3	,	,	PUNCT
emaj-190	261	4	y.	y.	PROPN
emaj-190	261	5	,	,	PUNCT
emaj-190	261	6	dang	dang	PROPN
emaj-190	261	7	,	,	PUNCT
emaj-190	261	8	v.	v.	PROPN
emaj-190	261	9	a.	a.	PROPN
emaj-190	261	10	,	,	PUNCT
emaj-190	261	11	&	&	CCONJ
emaj-190	261	12	arif	arif	PROPN
emaj-190	261	13	,	,	PUNCT
emaj-190	261	14	k.	k.	PROPN
emaj-190	261	15	(	(	PUNCT
emaj-190	261	16	2017	2017	NUM
emaj-190	261	17	)	)	PUNCT
emaj-190	261	18	.	.	PUNCT
emaj-190	262	1	stock	stock	NOUN
emaj-190	262	2	market	market	NOUN
emaj-190	262	3	listing	listing	NOUN
emaj-190	262	4	and	and	CCONJ
emaj-190	262	5	the	the	DET
emaj-190	262	6	use	use	NOUN
emaj-190	262	7	of	of	ADP
emaj-190	262	8	trade	trade	NOUN
emaj-190	262	9	credit	credit	NOUN
emaj-190	262	10	:	:	PUNCT
emaj-190	262	11	evidence	evidence	NOUN
emaj-190	262	12	from	from	ADP
emaj-190	262	13	public	public	ADJ
emaj-190	262	14	and	and	CCONJ
emaj-190	262	15	private	private	ADJ
emaj-190	262	16	firms	firm	NOUN
emaj-190	262	17	.	.	PUNCT
emaj-190	263	1	journal	journal	NOUN
emaj-190	263	2	of	of	ADP
emaj-190	263	3	corporate	corporate	ADJ
emaj-190	263	4	finance	finance	NOUN
emaj-190	263	5	,	,	PUNCT
emaj-190	263	6	46(3),391	46(3),391	NUM
emaj-190	263	7	-	-	SYM
emaj-190	263	8	410	410	NUM
emaj-190	263	9	.	.	PUNCT
emaj-190	264	1	ahmed	ahmed	PROPN
emaj-190	264	2	,	,	PUNCT
emaj-190	264	3	s.	s.	PROPN
emaj-190	264	4	&	&	CCONJ
emaj-190	264	5	zlate	zlate	PROPN
emaj-190	264	6	,	,	PUNCT
emaj-190	264	7	a.	a.	NOUN
emaj-190	264	8	(	(	PUNCT
emaj-190	264	9	2014	2014	NUM
emaj-190	264	10	)	)	PUNCT
emaj-190	264	11	.	.	PUNCT
emaj-190	265	1	capital	capital	NOUN
emaj-190	265	2	flows	flow	VERB
emaj-190	265	3	to	to	ADP
emaj-190	265	4	emerging	emerge	VERB
emaj-190	265	5	economies	economy	NOUN
emaj-190	265	6	:	:	PUNCT
emaj-190	265	7	a	a	DET
emaj-190	265	8	brave	brave	ADJ
emaj-190	265	9	new	new	ADJ
emaj-190	265	10	world	world	NOUN
emaj-190	265	11	?	?	PUNCT
emaj-190	266	1	journal	journal	NOUN
emaj-190	266	2	of	of	ADP
emaj-190	266	3	international	international	ADJ
emaj-190	266	4	money	money	NOUN
emaj-190	266	5	and	and	CCONJ
emaj-190	266	6	finance	finance	NOUN
emaj-190	266	7	,	,	PUNCT
emaj-190	266	8	48(4),221	48(4),221	NOUN
emaj-190	266	9	-	-	PUNCT
emaj-190	266	10	1228	1228	NUM
emaj-190	266	11	.	.	PUNCT
emaj-190	267	1	aizenman	aizenman	NOUN
emaj-190	267	2	,	,	PUNCT
emaj-190	267	3	r.	r.	PROPN
emaj-190	267	4	&	&	CCONJ
emaj-190	267	5	glick	glick	PROPN
emaj-190	267	6	.	.	PUNCT
emaj-190	268	1	r.	r.	PROPN
emaj-190	268	2	(	(	PUNCT
emaj-190	268	3	2009	2009	NUM
emaj-190	268	4	)	)	PUNCT
emaj-190	268	5	.	.	PUNCT
emaj-190	269	1	sterilization	sterilization	NOUN
emaj-190	269	2	,	,	PUNCT
emaj-190	269	3	monetary	monetary	ADJ
emaj-190	269	4	policy	policy	NOUN
emaj-190	269	5	,	,	PUNCT
emaj-190	269	6	and	and	CCONJ
emaj-190	269	7	global	global	ADJ
emaj-190	269	8	financial	financial	ADJ
emaj-190	269	9	integration	integration	NOUN
emaj-190	269	10	.	.	PUNCT
emaj-190	270	1	review	review	NOUN
emaj-190	270	2	of	of	ADP
emaj-190	270	3	international	international	ADJ
emaj-190	270	4	economics	economic	NOUN
emaj-190	270	5	,	,	PUNCT
emaj-190	270	6	17(4	17(4	NUM
emaj-190	270	7	)	)	PUNCT
emaj-190	270	8	,	,	PUNCT
emaj-190	270	9	777–801	777–801	NUM
emaj-190	270	10	.	.	PUNCT
emaj-190	270	11	alberolla	alberolla	NOUN
emaj-190	270	12	,	,	PUNCT
emaj-190	270	13	e.	e.	PROPN
emaj-190	270	14	,	,	PUNCT
emaj-190	270	15	erce	erce	PROPN
emaj-190	270	16	,	,	PUNCT
emaj-190	270	17	a.	a.	PROPN
emaj-190	270	18	,	,	PUNCT
emaj-190	270	19	&	&	CCONJ
emaj-190	270	20	serena	serena	PROPN
emaj-190	270	21	,	,	PUNCT
emaj-190	270	22	j.	j.	PROPN
emaj-190	270	23	(	(	PUNCT
emaj-190	270	24	2016	2016	NUM
emaj-190	270	25	)	)	PUNCT
emaj-190	270	26	.	.	PUNCT
emaj-190	271	1	international	international	ADJ
emaj-190	271	2	reserves	reserve	NOUN
emaj-190	271	3	and	and	CCONJ
emaj-190	271	4	gross	gross	ADJ
emaj-190	271	5	capital	capital	NOUN
emaj-190	271	6	flow	flow	NOUN
emaj-190	271	7	dynamics	dynamic	NOUN
emaj-190	271	8	.	.	PUNCT
emaj-190	272	1	journal	journal	PROPN
emaj-190	272	2	of	of	ADP
emaj-190	272	3	international	international	ADJ
emaj-190	272	4	money	money	NOUN
emaj-190	272	5	and	and	CCONJ
emaj-190	272	6	finance	finance	NOUN
emaj-190	272	7	,	,	PUNCT
emaj-190	272	8	60,151	60,151	NUM
emaj-190	272	9	-	-	SYM
emaj-190	272	10	171	171	NUM
emaj-190	272	11	.	.	PUNCT
emaj-190	273	1	anaya	anaya	PROPN
emaj-190	273	2	,	,	PUNCT
emaj-190	273	3	p.	p.	PROPN
emaj-190	273	4	,	,	PUNCT
emaj-190	273	5	hachula	hachula	NOUN
emaj-190	273	6	,	,	PUNCT
emaj-190	273	7	m.	m.	NOUN
emaj-190	273	8	,	,	PUNCT
emaj-190	273	9	&	&	CCONJ
emaj-190	273	10	offermanns	offermanns	PROPN
emaj-190	273	11	,	,	PUNCT
emaj-190	273	12	c.	c.	PROPN
emaj-190	273	13	j.	j.	PROPN
emaj-190	273	14	(	(	PUNCT
emaj-190	273	15	2017	2017	NUM
emaj-190	273	16	)	)	PUNCT
emaj-190	273	17	.	.	PUNCT
emaj-190	274	1	spillovers	spillover	NOUN
emaj-190	274	2	of	of	ADP
emaj-190	274	3	u.s	u.s	PROPN
emaj-190	274	4	.	.	PROPN
emaj-190	274	5	unconventional	unconventional	ADJ
emaj-190	274	6	monetary	monetary	ADJ
emaj-190	274	7	policy	policy	NOUN
emaj-190	274	8	to	to	ADP
emaj-190	274	9	emerging	emerge	VERB
emaj-190	274	10	markets	market	NOUN
emaj-190	274	11	:	:	PUNCT
emaj-190	274	12	the	the	DET
emaj-190	274	13	role	role	NOUN
emaj-190	274	14	of	of	ADP
emaj-190	274	15	capital	capital	NOUN
emaj-190	274	16	flows	flow	NOUN
emaj-190	274	17	.	.	PUNCT
emaj-190	275	1	journal	journal	PROPN
emaj-190	275	2	of	of	ADP
emaj-190	275	3	international	international	ADJ
emaj-190	275	4	money	money	NOUN
emaj-190	275	5	and	and	CCONJ
emaj-190	275	6	finance	finance	NOUN
emaj-190	275	7	,	,	PUNCT
emaj-190	275	8	73(1	73(1	NUM
emaj-190	275	9	)	)	PUNCT
emaj-190	275	10	,	,	PUNCT
emaj-190	275	11	275–295	275–295	NUM
emaj-190	275	12	.	.	PUNCT
emaj-190	275	13	ang	ang	PROPN
emaj-190	275	14	,	,	PUNCT
emaj-190	275	15	j.	j.	PROPN
emaj-190	275	16	(	(	PUNCT
emaj-190	275	17	1992	1992	NUM
emaj-190	275	18	)	)	PUNCT
emaj-190	275	19	.	.	PUNCT
emaj-190	276	1	on	on	ADP
emaj-190	276	2	the	the	DET
emaj-190	276	3	theory	theory	NOUN
emaj-190	276	4	of	of	ADP
emaj-190	276	5	finance	finance	NOUN
emaj-190	276	6	for	for	ADP
emaj-190	276	7	privately	privately	ADV
emaj-190	276	8	held	hold	VERB
emaj-190	276	9	firms	firm	NOUN
emaj-190	276	10	,	,	PUNCT
emaj-190	276	11	the	the	DET
emaj-190	276	12	journal	journal	NOUN
emaj-190	276	13	of	of	ADP
emaj-190	276	14	entrepreneurial	entrepreneurial	ADJ
emaj-190	276	15	finance	finance	NOUN
emaj-190	276	16	,	,	PUNCT
emaj-190	276	17	3(1	3(1	NUM
emaj-190	276	18	)	)	PUNCT
emaj-190	276	19	.	.	PUNCT
emaj-190	277	1	asker	asker	PROPN
emaj-190	277	2	,	,	PUNCT
emaj-190	277	3	j.	j.	PROPN
emaj-190	277	4	,	,	PUNCT
emaj-190	277	5	ferra	ferra	ADJ
emaj-190	277	6	-	-	PUNCT
emaj-190	277	7	mensa	mensa	PROPN
emaj-190	277	8	,	,	PUNCT
emaj-190	277	9	j.	j.	PROPN
emaj-190	277	10	,	,	PUNCT
emaj-190	277	11	&	&	CCONJ
emaj-190	277	12	ljungqvist	ljungqvist	PROPN
emaj-190	277	13	,	,	PUNCT
emaj-190	277	14	a.	a.	NOUN
emaj-190	277	15	(	(	PUNCT
emaj-190	277	16	2015	2015	NUM
emaj-190	277	17	)	)	PUNCT
emaj-190	277	18	corporate	corporate	ADJ
emaj-190	277	19	investment	investment	NOUN
emaj-190	277	20	and	and	CCONJ
emaj-190	277	21	stock	stock	NOUN
emaj-190	277	22	market	market	NOUN
emaj-190	277	23	listing	listing	NOUN
emaj-190	277	24	:	:	PUNCT
emaj-190	277	25	a	a	DET
emaj-190	277	26	puzzle	puzzle	NOUN
emaj-190	277	27	?	?	PUNCT
emaj-190	278	1	the	the	DET
emaj-190	278	2	review	review	NOUN
emaj-190	278	3	of	of	ADP
emaj-190	278	4	financial	financial	ADJ
emaj-190	278	5	studies	study	NOUN
emaj-190	278	6	,	,	PUNCT
emaj-190	278	7	28(2),342	28(2),342	NUM
emaj-190	278	8	-	-	SYM
emaj-190	278	9	390	390	NUM
emaj-190	278	10	.	.	PUNCT
emaj-190	279	1	avdjiev	avdjiev	PROPN
emaj-190	279	2	,	,	PUNCT
emaj-190	279	3	s.	s.	PROPN
emaj-190	279	4	,	,	PUNCT
emaj-190	279	5	mccauley	mccauley	PROPN
emaj-190	279	6	,	,	PUNCT
emaj-190	279	7	r.	r.	PROPN
emaj-190	279	8	,	,	PUNCT
emaj-190	279	9	&	&	CCONJ
emaj-190	279	10	mcguire	mcguire	PROPN
emaj-190	279	11	,	,	PUNCT
emaj-190	279	12	p.	p.	NOUN
emaj-190	279	13	(	(	PUNCT
emaj-190	279	14	2012	2012	NUM
emaj-190	279	15	)	)	PUNCT
emaj-190	279	16	.	.	PUNCT
emaj-190	280	1	rapid	rapid	ADJ
emaj-190	280	2	credit	credit	NOUN
emaj-190	280	3	growth	growth	NOUN
emaj-190	280	4	and	and	CCONJ
emaj-190	280	5	international	international	ADJ
emaj-190	280	6	credit	credit	NOUN
emaj-190	280	7	:	:	PUNCT
emaj-190	280	8	challenges	challenge	NOUN
emaj-190	280	9	for	for	ADP
emaj-190	280	10	asia	asia	PROPN
emaj-190	280	11	(	(	PUNCT
emaj-190	280	12	bis	bis	ADJ
emaj-190	280	13	working	working	NOUN
emaj-190	280	14	papers	paper	NOUN
emaj-190	280	15	no	no	INTJ
emaj-190	280	16	.	.	NOUN
emaj-190	280	17	377	377	NUM
emaj-190	280	18	)	)	PUNCT
emaj-190	280	19	.	.	PUNCT
emaj-190	281	1	retrieved	retrieve	VERB
emaj-190	281	2	from	from	ADP
emaj-190	281	3	https://www.bis.org/publ/work377.htm	https://www.bis.org/publ/work377.htm	PRON
emaj-190	281	4	aysan	aysan	PROPN
emaj-190	281	5	,	,	PUNCT
emaj-190	281	6	a.	a.	PROPN
emaj-190	281	7	f.	f.	PROPN
emaj-190	281	8	,	,	PUNCT
emaj-190	281	9	fendoğlu	fendoğlu	PROPN
emaj-190	281	10	,	,	PUNCT
emaj-190	281	11	s.	s.	PROPN
emaj-190	281	12	,	,	PUNCT
emaj-190	281	13	&	&	CCONJ
emaj-190	281	14	mustafa	mustafa	PROPN
emaj-190	281	15	,	,	PUNCT
emaj-190	281	16	k.	k.	PROPN
emaj-190	282	1	(	(	PUNCT
emaj-190	282	2	2014).macroprudential	2014).macroprudential	NUM
emaj-190	282	3	policies	policy	NOUN
emaj-190	282	4	as	as	ADP
emaj-190	282	5	buffer	buffer	NOUN
emaj-190	282	6	against	against	ADP
emaj-190	282	7	volatile	volatile	ADJ
emaj-190	282	8	cross	cross	ADJ
emaj-190	282	9	-	-	ADJ
emaj-190	282	10	border	border	ADJ
emaj-190	282	11	capital	capital	NOUN
emaj-190	282	12	flows	flow	NOUN
emaj-190	282	13	.	.	PUNCT
emaj-190	283	1	(	(	PUNCT
emaj-190	283	2	cbrt	cbrt	PROPN
emaj-190	283	3	working	working	PROPN
emaj-190	283	4	paper	paper	PROPN
emaj-190	283	5	no	no	INTJ
emaj-190	283	6	.	.	PUNCT
emaj-190	284	1	14/04	14/04	NUM
emaj-190	284	2	)	)	PUNCT
emaj-190	284	3	.	.	PUNCT
emaj-190	285	1	retrieved	retrieve	VERB
emaj-190	285	2	from	from	ADP
emaj-190	285	3	http://www.tcmb.gov.tr/wps/wcm/connect/en/	http://www.tcmb.gov.tr/wps/wcm/connect/en/	NOUN
emaj-190	285	4	tcmb+en	tcmb+en	NOUN
emaj-190	285	5	/	/	SYM
emaj-190	285	6	main+menu	main+menu	PROPN
emaj-190	285	7	/	/	SYM
emaj-190	285	8	publications	publication	NOUN
emaj-190	285	9	/	/	SYM
emaj-190	285	10	researc	researc	NOUN
emaj-190	285	11	h	h	NOUN
emaj-190	285	12	/	/	SYM
emaj-190	285	13	working+paperss/2014/14	working+paperss/2014/14	NOUN
emaj-190	285	14	-	-	PUNCT
emaj-190	285	15	04	04	NUM
emaj-190	285	16	bernanke	bernanke	PROPN
emaj-190	285	17	,	,	PUNCT
emaj-190	285	18	b.	b.	PROPN
emaj-190	285	19	,	,	PUNCT
emaj-190	285	20	gertler	gertler	NOUN
emaj-190	285	21	,	,	PUNCT
emaj-190	285	22	m.	m.	NOUN
emaj-190	285	23	,	,	PUNCT
emaj-190	285	24	&	&	CCONJ
emaj-190	285	25	gilchrist	gilchrist	PROPN
emaj-190	285	26	,	,	PUNCT
emaj-190	285	27	s.	s.	PROPN
emaj-190	285	28	(	(	PUNCT
emaj-190	285	29	1996	1996	NUM
emaj-190	285	30	)	)	PUNCT
emaj-190	285	31	.	.	PUNCT
emaj-190	286	1	the	the	DET
emaj-190	286	2	financial	financial	ADJ
emaj-190	286	3	accelerator	accelerator	NOUN
emaj-190	286	4	and	and	CCONJ
emaj-190	286	5	the	the	DET
emaj-190	286	6	flight	flight	NOUN
emaj-190	286	7	to	to	ADP
emaj-190	286	8	quality	quality	NOUN
emaj-190	286	9	.	.	PUNCT
emaj-190	287	1	the	the	DET
emaj-190	287	2	review	review	NOUN
emaj-190	287	3	of	of	ADP
emaj-190	287	4	economics	economic	NOUN
emaj-190	287	5	and	and	CCONJ
emaj-190	287	6	statistics	statistic	NOUN
emaj-190	287	7	,	,	PUNCT
emaj-190	287	8	78(1	78(1	NOUN
emaj-190	287	9	)	)	PUNCT
emaj-190	287	10	,	,	PUNCT
emaj-190	287	11	1–15	1–15	NUM
emaj-190	287	12	.	.	PUNCT
emaj-190	288	1	blasio	blasio	PROPN
emaj-190	288	2	,	,	PUNCT
emaj-190	288	3	g.	g.	PROPN
emaj-190	288	4	(	(	PUNCT
emaj-190	288	5	2003	2003	NUM
emaj-190	288	6	)	)	PUNCT
emaj-190	288	7	.	.	PUNCT
emaj-190	289	1	does	do	AUX
emaj-190	289	2	trade	trade	VERB
emaj-190	289	3	credit	credit	NOUN
emaj-190	289	4	substitute	substitute	NOUN
emaj-190	289	5	for	for	ADP
emaj-190	289	6	bank	bank	NOUN
emaj-190	289	7	credit	credit	NOUN
emaj-190	289	8	?	?	PUNCT
emaj-190	290	1	evidence	evidence	NOUN
emaj-190	290	2	from	from	ADP
emaj-190	290	3	firm	firm	ADJ
emaj-190	290	4	-	-	PUNCT
emaj-190	290	5	level	level	NOUN
emaj-190	290	6	data	datum	NOUN
emaj-190	290	7	.	.	PUNCT
emaj-190	291	1	economic	economic	ADJ
emaj-190	291	2	notes	note	NOUN
emaj-190	291	3	,	,	PUNCT
emaj-190	291	4	34(1	34(1	NUM
emaj-190	291	5	)	)	PUNCT
emaj-190	291	6	,	,	PUNCT
emaj-190	291	7	85	85	NUM
emaj-190	291	8	-	-	SYM
emaj-190	291	9	112	112	NUM
emaj-190	291	10	.	.	PUNCT
emaj-190	292	1	blanchard	blanchard	PROPN
emaj-190	292	2	,	,	PUNCT
emaj-190	292	3	o.	o.	PROPN
emaj-190	292	4	,	,	PUNCT
emaj-190	292	5	ostry	ostry	PROPN
emaj-190	292	6	,	,	PUNCT
emaj-190	292	7	j.	j.	PROPN
emaj-190	292	8	d.	d.	PROPN
emaj-190	292	9	,	,	PUNCT
emaj-190	292	10	ghosh	ghosh	PROPN
emaj-190	292	11	,	,	PUNCT
emaj-190	292	12	a.	a.	PROPN
emaj-190	292	13	,	,	PUNCT
emaj-190	292	14	&	&	CCONJ
emaj-190	292	15	chamon	chamon	PROPN
emaj-190	292	16	,	,	PUNCT
emaj-190	292	17	m.	m.	NOUN
emaj-190	292	18	(	(	PUNCT
emaj-190	292	19	2015	2015	NUM
emaj-190	292	20	)	)	PUNCT
emaj-190	292	21	.	.	PUNCT
emaj-190	293	1	are	be	AUX
emaj-190	293	2	capital	capital	NOUN
emaj-190	293	3	inflows	inflow	NOUN
emaj-190	293	4	expansionary	expansionary	ADJ
emaj-190	293	5	or	or	CCONJ
emaj-190	293	6	contractionary	contractionary	ADJ
emaj-190	293	7	?	?	PUNCT
emaj-190	294	1	theory	theory	NOUN
emaj-190	294	2	,	,	PUNCT
emaj-190	294	3	policy	policy	NOUN
emaj-190	294	4	implications	implication	NOUN
emaj-190	294	5	,	,	PUNCT
emaj-190	294	6	and	and	CCONJ
emaj-190	294	7	some	some	DET
emaj-190	294	8	evidence	evidence	NOUN
emaj-190	294	9	,	,	PUNCT
emaj-190	294	10	(	(	PUNCT
emaj-190	294	11	nber	nber	PROPN
emaj-190	294	12	working	working	PROPN
emaj-190	294	13	paper	paper	PROPN
emaj-190	294	14	no	no	INTJ
emaj-190	294	15	.	.	PROPN
emaj-190	294	16	21619	21619	NUM
emaj-190	294	17	)	)	PUNCT
emaj-190	294	18	retrieved	retrieve	VERB
emaj-190	294	19	from	from	ADP
emaj-190	294	20	https://www.nber.org/papers/w21619	https://www.nber.org/papers/w21619	PROPN
emaj-190	294	21	.	.	PUNCT
emaj-190	295	1	brav	brav	PROPN
emaj-190	295	2	,	,	PUNCT
emaj-190	295	3	o.	o.	INTJ
emaj-190	295	4	(	(	PUNCT
emaj-190	295	5	2009	2009	NUM
emaj-190	295	6	)	)	PUNCT
emaj-190	295	7	.	.	PUNCT
emaj-190	296	1	access	access	NOUN
emaj-190	296	2	to	to	ADP
emaj-190	296	3	capital	capital	NOUN
emaj-190	296	4	,	,	PUNCT
emaj-190	296	5	capital	capital	NOUN
emaj-190	296	6	structure	structure	NOUN
emaj-190	296	7	and	and	CCONJ
emaj-190	296	8	the	the	DET
emaj-190	296	9	funding	funding	NOUN
emaj-190	296	10	of	of	ADP
emaj-190	296	11	the	the	DET
emaj-190	296	12	firm	firm	NOUN
emaj-190	296	13	.	.	PUNCT
emaj-190	297	1	j.	j.	PROPN
emaj-190	297	2	financ	financ	PROPN
emaj-190	297	3	.	.	PROPN
emaj-190	298	1	64	64	NUM
emaj-190	298	2	,	,	PUNCT
emaj-190	298	3	263–308	263–308	NUM
emaj-190	298	4	.	.	PUNCT
emaj-190	299	1	calderon	calderon	PROPN
emaj-190	299	2	,	,	PUNCT
emaj-190	299	3	c.	c.	PROPN
emaj-190	299	4	,	,	PUNCT
emaj-190	299	5	&	&	CCONJ
emaj-190	299	6	kubota	kubota	PROPN
emaj-190	299	7	,	,	PUNCT
emaj-190	299	8	m.	m.	NOUN
emaj-190	299	9	(	(	PUNCT
emaj-190	299	10	2012	2012	NUM
emaj-190	299	11	)	)	PUNCT
emaj-190	299	12	,	,	PUNCT
emaj-190	299	13	gross	gross	ADJ
emaj-190	299	14	capital	capital	NOUN
emaj-190	299	15	inflows	inflow	NOUN
emaj-190	299	16	,	,	PUNCT
emaj-190	299	17	credit	credit	NOUN
emaj-190	299	18	booms	boom	NOUN
emaj-190	299	19	and	and	CCONJ
emaj-190	299	20	crises	crisis	NOUN
emaj-190	299	21	,	,	PUNCT
emaj-190	299	22	world	world	NOUN
emaj-190	299	23	bank	bank	PROPN
emaj-190	299	24	policy	policy	NOUN
emaj-190	299	25	research	research	NOUN
emaj-190	299	26	working	working	NOUN
emaj-190	299	27	paper	paper	NOUN
emaj-190	300	1	no	no	INTJ
emaj-190	300	2	.	.	PROPN
emaj-190	300	3	wps6270	wps6270	PROPN
emaj-190	300	4	.	.	PUNCT
emaj-190	301	1	calvo	calvo	PROPN
emaj-190	301	2	,	,	PUNCT
emaj-190	301	3	g.	g.	PROPN
emaj-190	301	4	a.	a.	PROPN
emaj-190	301	5	(	(	PUNCT
emaj-190	301	6	1998	1998	NUM
emaj-190	301	7	)	)	PUNCT
emaj-190	301	8	.	.	PUNCT
emaj-190	302	1	capital	capital	NOUN
emaj-190	302	2	flows	flow	NOUN
emaj-190	302	3	and	and	CCONJ
emaj-190	302	4	capital	capital	NOUN
emaj-190	302	5	-	-	PUNCT
emaj-190	302	6	market	market	NOUN
emaj-190	302	7	crises	crisis	NOUN
emaj-190	302	8	:	:	PUNCT
emaj-190	302	9	the	the	DET
emaj-190	302	10	simple	simple	ADJ
emaj-190	302	11	economics	economic	NOUN
emaj-190	302	12	of	of	ADP
emaj-190	302	13	sudden	sudden	ADJ
emaj-190	302	14	stops	stop	NOUN
emaj-190	302	15	.	.	PUNCT
emaj-190	303	1	journal	journal	NOUN
emaj-190	303	2	of	of	ADP
emaj-190	303	3	applied	apply	VERB
emaj-190	303	4	economics	economic	NOUN
emaj-190	303	5	,	,	PUNCT
emaj-190	303	6	1(1	1(1	NUM
emaj-190	303	7	)	)	PUNCT
emaj-190	303	8	,	,	PUNCT
emaj-190	303	9	35	35	NUM
emaj-190	303	10	-	-	SYM
emaj-190	303	11	54	54	NUM
emaj-190	303	12	.	.	PUNCT
emaj-190	304	1	carabarin	carabarin	NOUN
emaj-190	304	2	,	,	PUNCT
emaj-190	304	3	m.	m.	NOUN
emaj-190	304	4	,	,	PUNCT
emaj-190	304	5	garza	garza	PROPN
emaj-190	304	6	,	,	PUNCT
emaj-190	304	7	a.	a.	PROPN
emaj-190	304	8	,	,	PUNCT
emaj-190	304	9	&	&	CCONJ
emaj-190	304	10	moreno	moreno	PROPN
emaj-190	304	11	,	,	PUNCT
emaj-190	304	12	o.	o.	PROPN
emaj-190	304	13	(	(	PUNCT
emaj-190	304	14	2015	2015	NUM
emaj-190	304	15	)	)	PUNCT
emaj-190	304	16	.	.	PUNCT
emaj-190	305	1	global	global	ADJ
emaj-190	305	2	liquidity	liquidity	NOUN
emaj-190	305	3	and	and	CCONJ
emaj-190	305	4	corporate	corporate	ADJ
emaj-190	305	5	financing	financing	NOUN
emaj-190	305	6	in	in	ADP
emaj-190	305	7	mexico	mexico	PROPN
emaj-190	305	8	.	.	PUNCT
emaj-190	306	1	banco	banco	PROPN
emaj-190	306	2	de	de	PROPN
emaj-190	306	3	mexico	mexico	PROPN
emaj-190	306	4	working	work	VERB
emaj-190	306	5	paper	paper	NOUN
emaj-190	306	6	.	.	PUNCT
emaj-190	307	1	chui	chui	PROPN
emaj-190	307	2	,	,	PUNCT
emaj-190	307	3	m.	m.	NOUN
emaj-190	307	4	,	,	PUNCT
emaj-190	307	5	kuruc	kuruc	NOUN
emaj-190	307	6	,	,	PUNCT
emaj-190	307	7	e.	e.	PROPN
emaj-190	307	8	,	,	PUNCT
emaj-190	307	9	&	&	CCONJ
emaj-190	307	10	philip	philip	PROPN
emaj-190	307	11	,	,	PUNCT
emaj-190	307	12	t.	t.	PROPN
emaj-190	307	13	(	(	PUNCT
emaj-190	307	14	2016	2016	NUM
emaj-190	307	15	)	)	PUNCT
emaj-190	307	16	.	.	PUNCT
emaj-190	308	1	a	a	DET
emaj-190	308	2	new	new	ADJ
emaj-190	308	3	dimension	dimension	NOUN
emaj-190	308	4	to	to	ADP
emaj-190	308	5	currency	currency	NOUN
emaj-190	308	6	mismatches	mismatch	NOUN
emaj-190	308	7	in	in	ADP
emaj-190	308	8	the	the	DET
emaj-190	308	9	emerging	emerge	VERB
emaj-190	308	10	markets	market	NOUN
emaj-190	308	11	:	:	PUNCT
emaj-190	308	12	nonfinancial	nonfinancial	ADJ
emaj-190	308	13	companies	company	NOUN
emaj-190	308	14	(	(	PUNCT
emaj-190	308	15	bis	bis	X
emaj-190	308	16	working	working	PROPN
emaj-190	308	17	paper	paper	PROPN
emaj-190	308	18	no	no	INTJ
emaj-190	308	19	.	.	PUNCT
emaj-190	309	1	550).retrieved	550).retrieve	VERB
emaj-190	309	2	from	from	ADP
emaj-190	309	3	https://www.bis.org/publ/work550.htm	https://www.bis.org/publ/work550.htm	PROPN
emaj-190	309	4	cole	cole	PROPN
emaj-190	309	5	,	,	PUNCT
emaj-190	309	6	r.	r.	PROPN
emaj-190	309	7	(	(	PUNCT
emaj-190	309	8	2013	2013	NUM
emaj-190	309	9	)	)	PUNCT
emaj-190	309	10	.	.	PUNCT
emaj-190	310	1	what	what	PRON
emaj-190	310	2	do	do	AUX
emaj-190	310	3	we	we	PRON
emaj-190	310	4	know	know	VERB
emaj-190	310	5	about	about	ADP
emaj-190	310	6	the	the	DET
emaj-190	310	7	capital	capital	NOUN
emaj-190	310	8	structure	structure	NOUN
emaj-190	310	9	of	of	ADP
emaj-190	310	10	privately	privately	ADV
emaj-190	310	11	held	hold	VERB
emaj-190	310	12	us	us	PROPN
emaj-190	310	13	firms	firm	NOUN
emaj-190	310	14	.	.	PUNCT
emaj-190	311	1	financial	financial	ADJ
emaj-190	311	2	management	management	NOUN
emaj-190	311	3	,	,	PUNCT
emaj-190	311	4	42(4	42(4	PROPN
emaj-190	311	5	)	)	PUNCT
emaj-190	311	6	,	,	PUNCT
emaj-190	311	7	777	777	NUM
emaj-190	311	8	-	-	SYM
emaj-190	311	9	813	813	NUM
emaj-190	311	10	.	.	PUNCT
emaj-190	312	1	demiroğlu	demiroğlu	PROPN
emaj-190	312	2	,	,	PUNCT
emaj-190	312	3	c.	c.	PROPN
emaj-190	312	4	,	,	PUNCT
emaj-190	312	5	christopher	christopher	PROPN
emaj-190	312	6	,	,	PUNCT
emaj-190	312	7	j.	j.	PROPN
emaj-190	312	8	,	,	PUNCT
emaj-190	312	9	&	&	CCONJ
emaj-190	312	10	kızılaslan	kızılaslan	PROPN
emaj-190	312	11	,	,	PUNCT
emaj-190	312	12	a.	a.	NOUN
emaj-190	312	13	(	(	PUNCT
emaj-190	312	14	2012	2012	NUM
emaj-190	312	15	)	)	PUNCT
emaj-190	312	16	.	.	PUNCT
emaj-190	313	1	bank	bank	NOUN
emaj-190	313	2	lending	lending	NOUN
emaj-190	313	3	standards	standard	NOUN
emaj-190	313	4	and	and	CCONJ
emaj-190	313	5	access	access	NOUN
emaj-190	313	6	to	to	ADP
emaj-190	313	7	lines	line	NOUN
emaj-190	313	8	.	.	PUNCT
emaj-190	314	1	journal	journal	NOUN
emaj-190	314	2	of	of	ADP
emaj-190	314	3	money	money	NOUN
emaj-190	314	4	credit	credit	NOUN
emaj-190	314	5	and	and	CCONJ
emaj-190	314	6	banking	banking	NOUN
emaj-190	314	7	,	,	PUNCT
emaj-190	314	8	44(6	44(6	PROPN
emaj-190	314	9	)	)	PUNCT
emaj-190	314	10	,	,	PUNCT
emaj-190	314	11	1063	1063	NUM
emaj-190	314	12	-	-	SYM
emaj-190	314	13	1089	1089	NUM
emaj-190	314	14	.	.	PUNCT
emaj-190	315	1	fazarri	fazarri	PROPN
emaj-190	315	2	,	,	PUNCT
emaj-190	315	3	s.	s.	PROPN
emaj-190	315	4	,	,	PUNCT
emaj-190	315	5	m.	m.	NOUN
emaj-190	315	6	,	,	PUNCT
emaj-190	315	7	hubbard	hubbard	PROPN
emaj-190	315	8	,	,	PUNCT
emaj-190	315	9	r.	r.	PROPN
emaj-190	315	10	g.	g.	PROPN
emaj-190	315	11	,	,	PUNCT
emaj-190	315	12	&	&	CCONJ
emaj-190	315	13	petersen	petersen	PROPN
emaj-190	315	14	,	,	PUNCT
emaj-190	315	15	b.	b.	PROPN
emaj-190	315	16	,	,	PUNCT
emaj-190	315	17	c.	c.	PROPN
emaj-190	315	18	(	(	PUNCT
emaj-190	315	19	1988	1988	NUM
emaj-190	315	20	)	)	PUNCT
emaj-190	315	21	.	.	PUNCT
emaj-190	316	1	financing	financing	NOUN
emaj-190	316	2	constraints	constraint	NOUN
emaj-190	316	3	and	and	CCONJ
emaj-190	316	4	corporate	corporate	ADJ
emaj-190	316	5	investment	investment	NOUN
emaj-190	316	6	brookings	brooking	NOUN
emaj-190	316	7	papers	paper	NOUN
emaj-190	316	8	on	on	ADP
emaj-190	316	9	economic	economic	ADJ
emaj-190	316	10	activity	activity	NOUN
emaj-190	316	11	.	.	PUNCT
emaj-190	317	1	farre	farre	PROPN
emaj-190	317	2	-	-	PUNCT
emaj-190	317	3	mensa	mensa	PROPN
emaj-190	317	4	,	,	PUNCT
emaj-190	317	5	j.	j.	PROPN
emaj-190	317	6	,	,	PUNCT
emaj-190	317	7	ljungqvist	ljungqvist	PROPN
emaj-190	317	8	,	,	PUNCT
emaj-190	317	9	a.	a.	NOUN
emaj-190	317	10	,	,	PUNCT
emaj-190	317	11	(	(	PUNCT
emaj-190	317	12	2016	2016	NUM
emaj-190	317	13	)	)	PUNCT
emaj-190	317	14	.	.	PUNCT
emaj-190	318	1	do	do	AUX
emaj-190	318	2	measures	measure	NOUN
emaj-190	318	3	of	of	ADP
emaj-190	318	4	financial	financial	ADJ
emaj-190	318	5	constraints	constraint	NOUN
emaj-190	318	6	measure	measure	VERB
emaj-190	318	7	financial	financial	ADJ
emaj-190	318	8	constraints	constraint	NOUN
emaj-190	318	9	?	?	PUNCT
emaj-190	319	1	rev	rev	PROPN
emaj-190	319	2	.	.	PROPN
emaj-190	319	3	financ	financ	PROPN
emaj-190	319	4	.	.	PUNCT
emaj-190	320	1	stud	stud	PROPN
emaj-190	320	2	.	.	PUNCT
emaj-190	321	1	29	29	NUM
emaj-190	321	2	,	,	PUNCT
emaj-190	321	3	271–308	271–308	NUM
emaj-190	321	4	.	.	PUNCT
emaj-190	322	1	javascript	javascript	NOUN
emaj-190	322	2	:	:	PUNCT
emaj-190	322	3	;	;	PUNCT
emaj-190	322	4	https://ideas.repec.org/s/bis/biswps.html	https://ideas.repec.org/s/bis/biswps.html	NOUN
emaj-190	322	5	https://www.bis.org/publ/work377.htm	https://www.bis.org/publ/work377.htm	X
emaj-190	322	6	https://www.nber.org/papers/w21619	https://www.nber.org/papers/w21619	PROPN
emaj-190	322	7	https://www.bis.org/publ/work550.htm	https://www.bis.org/publ/work550.htm	PROPN
emaj-190	322	8	volume	volume	NOUN
emaj-190	322	9	10	10	NUM
emaj-190	322	10	no	no	DET
emaj-190	322	11	1	1	NUM
emaj-190	322	12	(	(	PUNCT
emaj-190	322	13	2020	2020	NUM
emaj-190	322	14	)	)	PUNCT
emaj-190	322	15	|	|	ADV
emaj-190	322	16	issn	issn	VERB
emaj-190	322	17	2158	2158	NUM
emaj-190	322	18	-	-	SYM
emaj-190	322	19	8708	8708	NUM
emaj-190	322	20	(	(	PUNCT
emaj-190	322	21	online	online	NOUN
emaj-190	322	22	)	)	PUNCT
emaj-190	322	23	|	|	ADV
emaj-190	322	24	doi	doi	X
emaj-190	322	25	10.5195	10.5195	NUM
emaj-190	322	26	/	/	SYM
emaj-190	322	27	emaj.2020.190	emaj.2020.190	NOUN
emaj-190	322	28	|	|	NOUN
emaj-190	322	29	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-190	322	30	bahadır	bahadır	NOUN
emaj-190	322	31	karakoç	karakoç	VERB
emaj-190	322	32	emerging	emerge	VERB
emaj-190	322	33	markets	market	NOUN
emaj-190	322	34	journal	journal	NOUN
emaj-190	322	35	|	|	ADV
emaj-190	322	36	p	p	NOUN
emaj-190	322	37	a	a	DET
emaj-190	322	38	g	g	NOUN
emaj-190	322	39	e	e	NOUN
emaj-190	322	40	|39	|39	ADV
emaj-190	322	41	frank	frank	ADJ
emaj-190	322	42	,	,	PUNCT
emaj-190	322	43	m.	m.	NOUN
emaj-190	322	44	&	&	CCONJ
emaj-190	322	45	goyal	goyal	PROPN
emaj-190	322	46	,	,	PUNCT
emaj-190	322	47	v.	v.	PROPN
emaj-190	322	48	(	(	PUNCT
emaj-190	322	49	2009	2009	NUM
emaj-190	322	50	)	)	PUNCT
emaj-190	322	51	.	.	PUNCT
emaj-190	323	1	capital	capital	NOUN
emaj-190	323	2	structure	structure	NOUN
emaj-190	323	3	decisions	decision	NOUN
emaj-190	323	4	:	:	PUNCT
emaj-190	323	5	which	which	DET
emaj-190	323	6	factors	factor	NOUN
emaj-190	323	7	are	be	AUX
emaj-190	323	8	reliably	reliably	ADV
emaj-190	323	9	important	important	ADJ
emaj-190	323	10	?	?	PUNCT
emaj-190	324	1	financial	financial	ADJ
emaj-190	324	2	management	management	NOUN
emaj-190	324	3	,	,	PUNCT
emaj-190	324	4	38	38	NUM
emaj-190	324	5	,	,	PUNCT
emaj-190	324	6	1–37	1–37	NOUN
emaj-190	324	7	.	.	PUNCT
emaj-190	324	8	gertler	gertler	NOUN
emaj-190	324	9	,	,	PUNCT
emaj-190	324	10	m.	m.	NOUN
emaj-190	324	11	&	&	CCONJ
emaj-190	324	12	gilchrist	gilchrist	PROPN
emaj-190	324	13	,	,	PUNCT
emaj-190	324	14	s.	s.	PROPN
emaj-190	324	15	(	(	PUNCT
emaj-190	324	16	1994	1994	NUM
emaj-190	324	17	)	)	PUNCT
emaj-190	324	18	.	.	PUNCT
emaj-190	325	1	monetary	monetary	ADJ
emaj-190	325	2	policy	policy	NOUN
emaj-190	325	3	,	,	PUNCT
emaj-190	325	4	business	business	NOUN
emaj-190	325	5	cycles	cycle	NOUN
emaj-190	325	6	,	,	PUNCT
emaj-190	325	7	and	and	CCONJ
emaj-190	325	8	the	the	DET
emaj-190	325	9	behavior	behavior	NOUN
emaj-190	325	10	of	of	ADP
emaj-190	325	11	small	small	ADJ
emaj-190	325	12	manufacturing	manufacturing	NOUN
emaj-190	325	13	firms	firm	NOUN
emaj-190	325	14	.	.	PUNCT
emaj-190	326	1	the	the	DET
emaj-190	326	2	quarterly	quarterly	ADJ
emaj-190	326	3	journal	journal	NOUN
emaj-190	326	4	of	of	ADP
emaj-190	326	5	economics	economic	NOUN
emaj-190	326	6	109(2	109(2	NUM
emaj-190	326	7	)	)	PUNCT
emaj-190	326	8	,	,	PUNCT
emaj-190	326	9	309–340	309–340	NUM
emaj-190	326	10	.	.	PUNCT
emaj-190	327	1	ghosh	ghosh	PROPN
emaj-190	327	2	,	,	PUNCT
emaj-190	327	3	a.	a.	PROPN
emaj-190	327	4	,	,	PUNCT
emaj-190	327	5	kim	kim	PROPN
emaj-190	327	6	,	,	PUNCT
emaj-190	327	7	m.	m.	NOUN
emaj-190	327	8	,	,	PUNCT
emaj-190	327	9	qureshi	qureshi	PROPN
emaj-190	327	10	,	,	PUNCT
emaj-190	327	11	j.	j.	PROPN
emaj-190	327	12	,	,	PUNCT
emaj-190	327	13	&	&	CCONJ
emaj-190	327	14	zalduendo	zalduendo	PROPN
emaj-190	327	15	,	,	PUNCT
emaj-190	327	16	m.	m.	NOUN
emaj-190	327	17	(	(	PUNCT
emaj-190	327	18	2012	2012	NUM
emaj-190	327	19	)	)	PUNCT
emaj-190	327	20	.	.	PUNCT
emaj-190	328	1	surges	surge	NOUN
emaj-190	328	2	(	(	PUNCT
emaj-190	328	3	imf	imf	PROPN
emaj-190	328	4	working	working	PROPN
emaj-190	328	5	paper	paper	NOUN
emaj-190	328	6	no	no	INTJ
emaj-190	328	7	.	.	PUNCT
emaj-190	329	1	wp/12/22	wp/12/22	PROPN
emaj-190	329	2	)	)	PUNCT
emaj-190	329	3	.	.	PUNCT
emaj-190	330	1	retrieved	retrieve	VERB
emaj-190	330	2	from	from	ADP
emaj-190	330	3	http://www.sciencedirect.com/science/article/pi	http://www.sciencedirect.com/science/article/pi	PROPN
emaj-190	330	4	i	i	PROPN
emaj-190	330	5	/	/	SYM
emaj-190	330	6	s002219961300144x	s002219961300144x	PROPN
emaj-190	330	7	goyal	goyal	PROPN
emaj-190	330	8	,	,	PUNCT
emaj-190	330	9	v.	v.	PROPN
emaj-190	330	10	,	,	PUNCT
emaj-190	330	11	a.	a.	PROPN
emaj-190	330	12	,	,	PUNCT
emaj-190	330	13	nova	nova	PROPN
emaj-190	330	14	,	,	PUNCT
emaj-190	330	15	&	&	CCONJ
emaj-190	330	16	l.	l.	PROPN
emaj-190	330	17	,	,	PUNCT
emaj-190	330	18	zanetti	zanetti	PROPN
emaj-190	330	19	,	,	PUNCT
emaj-190	330	20	(	(	PUNCT
emaj-190	330	21	2011	2011	NUM
emaj-190	330	22	)	)	PUNCT
emaj-190	330	23	.	.	PUNCT
emaj-190	331	1	capital	capital	NOUN
emaj-190	331	2	market	market	NOUN
emaj-190	331	3	access	access	NOUN
emaj-190	331	4	and	and	CCONJ
emaj-190	331	5	financing	financing	NOUN
emaj-190	331	6	of	of	ADP
emaj-190	331	7	private	private	ADJ
emaj-190	331	8	firms	firm	NOUN
emaj-190	331	9	.	.	PUNCT
emaj-190	332	1	international	international	ADJ
emaj-190	332	2	review	review	NOUN
emaj-190	332	3	of	of	ADP
emaj-190	332	4	finance	finance	NOUN
emaj-190	332	5	,	,	PUNCT
emaj-190	332	6	11(2	11(2	NUM
emaj-190	332	7	)	)	PUNCT
emaj-190	332	8	.	.	PUNCT
emaj-190	333	1	155	155	NUM
emaj-190	333	2	–	–	SYM
emaj-190	333	3	179	179	NUM
emaj-190	333	4	.	.	PUNCT
emaj-190	333	5	harris	harris	PROPN
emaj-190	333	6	,	,	PUNCT
emaj-190	333	7	m.	m.	NOUN
emaj-190	333	8	&	&	CCONJ
emaj-190	333	9	raviv	raviv	PROPN
emaj-190	333	10	,	,	PUNCT
emaj-190	333	11	a.	a.	NOUN
emaj-190	333	12	(	(	PUNCT
emaj-190	333	13	1991	1991	NUM
emaj-190	333	14	)	)	PUNCT
emaj-190	333	15	.	.	PUNCT
emaj-190	334	1	the	the	DET
emaj-190	334	2	theory	theory	NOUN
emaj-190	334	3	of	of	ADP
emaj-190	334	4	capital	capital	NOUN
emaj-190	334	5	structure	structure	NOUN
emaj-190	334	6	.	.	PUNCT
emaj-190	335	1	journal	journal	PROPN
emaj-190	335	2	of	of	ADP
emaj-190	335	3	finance	finance	NOUN
emaj-190	335	4	,	,	PUNCT
emaj-190	335	5	46(1	46(1	PROPN
emaj-190	335	6	)	)	PUNCT
emaj-190	335	7	,	,	PUNCT
emaj-190	335	8	297–356	297–356	NUM
emaj-190	335	9	.	.	PUNCT
emaj-190	336	1	hadlock	hadlock	NOUN
emaj-190	336	2	,	,	PUNCT
emaj-190	336	3	c.	c.	PROPN
emaj-190	336	4	j.	j.	PROPN
emaj-190	336	5	&	&	CCONJ
emaj-190	336	6	pierce	pierce	PROPN
emaj-190	336	7	,	,	PUNCT
emaj-190	336	8	j.	j.	PROPN
emaj-190	336	9	r.	r.	PROPN
emaj-190	336	10	(	(	PUNCT
emaj-190	336	11	2010	2010	NUM
emaj-190	336	12	)	)	PUNCT
emaj-190	336	13	.	.	PUNCT
emaj-190	337	1	new	new	ADJ
emaj-190	337	2	evidence	evidence	NOUN
emaj-190	337	3	on	on	ADP
emaj-190	337	4	measuring	measure	VERB
emaj-190	337	5	financial	financial	ADJ
emaj-190	337	6	constraints	constraint	NOUN
emaj-190	337	7	:	:	PUNCT
emaj-190	337	8	moving	move	VERB
emaj-190	337	9	beyond	beyond	ADP
emaj-190	337	10	the	the	DET
emaj-190	337	11	kz	kz	PROPN
emaj-190	337	12	index	index	NOUN
emaj-190	337	13	.	.	PUNCT
emaj-190	338	1	the	the	DET
emaj-190	338	2	review	review	NOUN
emaj-190	338	3	of	of	ADP
emaj-190	338	4	financial	financial	ADJ
emaj-190	338	5	studies	study	NOUN
emaj-190	338	6	,	,	PUNCT
emaj-190	338	7	23(5	23(5	NUM
emaj-190	338	8	)	)	PUNCT
emaj-190	338	9	,	,	PUNCT
emaj-190	338	10	1909–1940	1909–1940	NUM
emaj-190	338	11	.	.	PUNCT
emaj-190	339	1	kashyap	kashyap	PROPN
emaj-190	339	2	,	,	PUNCT
emaj-190	339	3	a.	a.	PROPN
emaj-190	339	4	,	,	PUNCT
emaj-190	339	5	k.	k.	PROPN
emaj-190	339	6	,	,	PUNCT
emaj-190	339	7	stein	stein	PROPN
emaj-190	339	8	,	,	PUNCT
emaj-190	339	9	j.	j.	PROPN
emaj-190	339	10	,	,	PUNCT
emaj-190	339	11	&	&	CCONJ
emaj-190	339	12	wilcox	wilcox	PROPN
emaj-190	339	13	,	,	PUNCT
emaj-190	339	14	d.	d.	PROPN
emaj-190	339	15	w.	w.	PROPN
emaj-190	339	16	(	(	PUNCT
emaj-190	339	17	1993	1993	NUM
emaj-190	339	18	)	)	PUNCT
emaj-190	339	19	.	.	PUNCT
emaj-190	340	1	monetary	monetary	ADJ
emaj-190	340	2	policy	policy	NOUN
emaj-190	340	3	and	and	CCONJ
emaj-190	340	4	credit	credit	NOUN
emaj-190	340	5	conditions	condition	NOUN
emaj-190	340	6	:	:	PUNCT
emaj-190	340	7	evidence	evidence	NOUN
emaj-190	340	8	from	from	ADP
emaj-190	340	9	the	the	DET
emaj-190	340	10	composition	composition	NOUN
emaj-190	340	11	of	of	ADP
emaj-190	340	12	external	external	ADJ
emaj-190	340	13	finance	finance	NOUN
emaj-190	340	14	.	.	PUNCT
emaj-190	341	1	the	the	DET
emaj-190	341	2	american	american	PROPN
emaj-190	341	3	economic	economic	PROPN
emaj-190	341	4	review	review	PROPN
emaj-190	341	5	,	,	PUNCT
emaj-190	341	6	83(1	83(1	PROPN
emaj-190	341	7	)	)	PUNCT
emaj-190	341	8	,	,	PUNCT
emaj-190	341	9	78	78	NUM
emaj-190	341	10	-	-	SYM
emaj-190	341	11	98	98	NUM
emaj-190	341	12	.	.	PUNCT
emaj-190	342	1	kim	kim	PROPN
emaj-190	342	2	,	,	PUNCT
emaj-190	342	3	k.	k.	PROPN
emaj-190	342	4	&	&	CCONJ
emaj-190	342	5	choi	choi	PROPN
emaj-190	342	6	,	,	PUNCT
emaj-190	342	7	w.	w.	PROPN
emaj-190	342	8	,	,	PUNCT
emaj-190	342	9	g.	g.	PROPN
emaj-190	342	10	(	(	PUNCT
emaj-190	342	11	2003	2003	NUM
emaj-190	342	12	)	)	PUNCT
emaj-190	342	13	.	.	PUNCT
emaj-190	343	1	trade	trade	NOUN
emaj-190	343	2	credit	credit	NOUN
emaj-190	343	3	and	and	CCONJ
emaj-190	343	4	the	the	DET
emaj-190	343	5	effect	effect	NOUN
emaj-190	343	6	of	of	ADP
emaj-190	343	7	macro	macro	ADJ
emaj-190	343	8	-	-	ADJ
emaj-190	343	9	financial	financial	ADJ
emaj-190	343	10	shocks	shock	NOUN
emaj-190	343	11	;	;	PUNCT
emaj-190	343	12	evidence	evidence	NOUN
emaj-190	343	13	from	from	ADP
emaj-190	343	14	u.s	u.s	PROPN
emaj-190	343	15	.	.	PROPN
emaj-190	343	16	panel	panel	NOUN
emaj-190	343	17	data	data	PROPN
emaj-190	343	18	,	,	PUNCT
emaj-190	343	19	imf	imf	PROPN
emaj-190	343	20	working	work	VERB
emaj-190	343	21	papers	paper	NOUN
emaj-190	343	22	03/127	03/127	NUM
emaj-190	343	23	,	,	PUNCT
emaj-190	343	24	international	international	ADJ
emaj-190	343	25	monetary	monetary	ADJ
emaj-190	343	26	fund	fund	PROPN
emaj-190	343	27	.	.	PUNCT
emaj-190	344	1	korajczyk	korajczyk	PROPN
emaj-190	344	2	,	,	PUNCT
emaj-190	344	3	r.	r.	PROPN
emaj-190	344	4	,	,	PUNCT
emaj-190	344	5	&	&	CCONJ
emaj-190	344	6	levy	levy	NOUN
emaj-190	344	7	,	,	PUNCT
emaj-190	344	8	a.	a.	NOUN
emaj-190	344	9	(	(	PUNCT
emaj-190	344	10	2003	2003	NUM
emaj-190	344	11	)	)	PUNCT
emaj-190	344	12	.	.	PUNCT
emaj-190	345	1	capital	capital	NOUN
emaj-190	345	2	structure	structure	NOUN
emaj-190	345	3	choice	choice	NOUN
emaj-190	345	4	:	:	PUNCT
emaj-190	345	5	macroeconomic	macroeconomic	ADJ
emaj-190	345	6	conditions	condition	NOUN
emaj-190	345	7	and	and	CCONJ
emaj-190	345	8	financial	financial	ADJ
emaj-190	345	9	constraints	constraint	NOUN
emaj-190	345	10	.	.	PUNCT
emaj-190	346	1	journal	journal	NOUN
emaj-190	346	2	of	of	ADP
emaj-190	346	3	financial	financial	ADJ
emaj-190	346	4	economics	economic	NOUN
emaj-190	346	5	,	,	PUNCT
emaj-190	346	6	68(1	68(1	NOUN
emaj-190	346	7	)	)	PUNCT
emaj-190	346	8	,	,	PUNCT
emaj-190	347	1	75–109	75–109	X
emaj-190	347	2	.	.	PUNCT
emaj-190	347	3	long	long	ADV
emaj-190	348	1	,	,	PUNCT
emaj-190	348	2	m.	m.	NOUN
emaj-190	348	3	s.	s.	PROPN
emaj-190	348	4	,	,	PUNCT
emaj-190	348	5	malitz	malitz	PROPN
emaj-190	348	6	,	,	PUNCT
emaj-190	348	7	i.	i.	PROPN
emaj-190	348	8	b.	b.	PROPN
emaj-190	348	9	,	,	PUNCT
emaj-190	348	10	&	&	CCONJ
emaj-190	348	11	ravid	ravid	PROPN
emaj-190	348	12	,	,	PUNCT
emaj-190	348	13	s.	s.	PROPN
emaj-190	348	14	a.	a.	PROPN
emaj-190	348	15	(	(	PUNCT
emaj-190	348	16	1993	1993	NUM
emaj-190	348	17	)	)	PUNCT
emaj-190	348	18	.	.	PUNCT
emaj-190	349	1	trade	trade	NOUN
emaj-190	349	2	credit	credit	NOUN
emaj-190	349	3	,	,	PUNCT
emaj-190	349	4	quality	quality	NOUN
emaj-190	349	5	guarantees	guarantee	NOUN
emaj-190	349	6	,	,	PUNCT
emaj-190	349	7	and	and	CCONJ
emaj-190	349	8	product	product	NOUN
emaj-190	349	9	marketability	marketability	NOUN
emaj-190	349	10	.	.	PUNCT
emaj-190	350	1	financial	financial	ADJ
emaj-190	350	2	management	management	NOUN
emaj-190	350	3	,	,	PUNCT
emaj-190	350	4	22(4	22(4	NUM
emaj-190	350	5	)	)	PUNCT
emaj-190	350	6	,	,	PUNCT
emaj-190	350	7	117	117	NUM
emaj-190	350	8	-	-	SYM
emaj-190	350	9	127	127	NUM
emaj-190	350	10	.	.	PUNCT
emaj-190	351	1	magud	magud	PROPN
emaj-190	351	2	,	,	PUNCT
emaj-190	351	3	n.e	n.e	PROPN
emaj-190	351	4	.	.	PROPN
emaj-190	351	5	,	,	PUNCT
emaj-190	351	6	reinhart	reinhart	PROPN
emaj-190	351	7	,	,	PUNCT
emaj-190	351	8	c.	c.	PROPN
emaj-190	351	9	,	,	PUNCT
emaj-190	351	10	&	&	CCONJ
emaj-190	351	11	vesperoni	vesperoni	PROPN
emaj-190	351	12	,	,	PUNCT
emaj-190	351	13	e.	e.	PROPN
emaj-190	351	14	r.	r.	PROPN
emaj-190	351	15	(	(	PUNCT
emaj-190	351	16	2012	2012	NUM
emaj-190	351	17	)	)	PUNCT
emaj-190	351	18	.	.	PUNCT
emaj-190	352	1	capital	capital	NOUN
emaj-190	352	2	inflows	inflow	NOUN
emaj-190	352	3	,	,	PUNCT
emaj-190	352	4	exchange	exchange	NOUN
emaj-190	352	5	rate	rate	NOUN
emaj-190	352	6	flexibility	flexibility	NOUN
emaj-190	352	7	,	,	PUNCT
emaj-190	352	8	and	and	CCONJ
emaj-190	352	9	credit	credit	NOUN
emaj-190	352	10	booms	boom	NOUN
emaj-190	352	11	.	.	PUNCT
emaj-190	353	1	review	review	NOUN
emaj-190	353	2	of	of	ADP
emaj-190	353	3	development	development	NOUN
emaj-190	353	4	economics	economic	NOUN
emaj-190	353	5	,	,	PUNCT
emaj-190	353	6	18(3	18(3	NUM
emaj-190	353	7	)	)	PUNCT
emaj-190	353	8	,	,	PUNCT
emaj-190	353	9	415	415	NUM
emaj-190	353	10	-	-	SYM
emaj-190	353	11	430	430	NUM
emaj-190	353	12	.	.	PUNCT
emaj-190	354	1	mendoza	mendoza	PROPN
emaj-190	354	2	,	,	PUNCT
emaj-190	354	3	e.	e.	PROPN
emaj-190	354	4	g.	g.	PROPN
emaj-190	354	5	&	&	CCONJ
emaj-190	354	6	terrones	terrones	PROPN
emaj-190	354	7	,	,	PUNCT
emaj-190	354	8	m.	m.	PROPN
emaj-190	354	9	e.	e.	PROPN
emaj-190	354	10	(	(	PUNCT
emaj-190	354	11	2012	2012	NUM
emaj-190	354	12	)	)	PUNCT
emaj-190	354	13	.	.	PUNCT
emaj-190	355	1	an	an	DET
emaj-190	355	2	anatomy	anatomy	NOUN
emaj-190	355	3	of	of	ADP
emaj-190	355	4	credit	credit	NOUN
emaj-190	355	5	boom	boom	NOUN
emaj-190	355	6	and	and	CCONJ
emaj-190	355	7	their	their	PRON
emaj-190	355	8	demise	demise	NOUN
emaj-190	355	9	(	(	PUNCT
emaj-190	355	10	nber	nber	PROPN
emaj-190	355	11	working	working	PROPN
emaj-190	355	12	paper	paper	PROPN
emaj-190	355	13	no.18379	no.18379	PROPN
emaj-190	355	14	)	)	PUNCT
emaj-190	355	15	.	.	PUNCT
emaj-190	356	1	retrieved	retrieve	VERB
emaj-190	356	2	from	from	ADP
emaj-190	356	3	https://www.nber.org/papers/w18379	https://www.nber.org/papers/w18379	PROPN
emaj-190	356	4	montiel	montiel	PROPN
emaj-190	356	5	,	,	PUNCT
emaj-190	356	6	p.	p.	PROPN
emaj-190	356	7	,	,	PUNCT
emaj-190	356	8	&	&	CCONJ
emaj-190	356	9	reinhart	reinhart	PROPN
emaj-190	356	10	,	,	PUNCT
emaj-190	356	11	c.	c.	PROPN
emaj-190	356	12	(	(	PUNCT
emaj-190	356	13	1999	1999	NUM
emaj-190	356	14	)	)	PUNCT
emaj-190	356	15	.	.	PUNCT
emaj-190	357	1	do	do	VERB
emaj-190	357	2	capital	capital	NOUN
emaj-190	357	3	controls	control	NOUN
emaj-190	357	4	and	and	CCONJ
emaj-190	357	5	macroeconomic	macroeconomic	ADJ
emaj-190	357	6	policies	policy	NOUN
emaj-190	357	7	influence	influence	VERB
emaj-190	357	8	the	the	DET
emaj-190	357	9	volume	volume	NOUN
emaj-190	357	10	and	and	CCONJ
emaj-190	357	11	composition	composition	NOUN
emaj-190	357	12	of	of	ADP
emaj-190	357	13	capital	capital	NOUN
emaj-190	357	14	flows	flow	NOUN
emaj-190	357	15	?	?	PUNCT
emaj-190	358	1	evidence	evidence	NOUN
emaj-190	358	2	from	from	ADP
emaj-190	358	3	the	the	DET
emaj-190	358	4	1990s	1990s	NUM
emaj-190	358	5	.	.	PUNCT
emaj-190	359	1	journal	journal	NOUN
emaj-190	359	2	of	of	ADP
emaj-190	359	3	international	international	ADJ
emaj-190	359	4	money	money	NOUN
emaj-190	359	5	and	and	CCONJ
emaj-190	359	6	finance	finance	NOUN
emaj-190	359	7	,	,	PUNCT
emaj-190	359	8	18(4	18(4	NUM
emaj-190	359	9	)	)	PUNCT
emaj-190	359	10	,	,	PUNCT
emaj-190	359	11	619	619	NUM
emaj-190	359	12	–	–	PUNCT
emaj-190	359	13	635	635	NUM
emaj-190	359	14	.	.	PUNCT
emaj-190	360	1	petersen	petersen	PROPN
emaj-190	360	2	,	,	PUNCT
emaj-190	360	3	m.	m.	PROPN
emaj-190	360	4	&	&	CCONJ
emaj-190	360	5	rajan	rajan	PROPN
emaj-190	360	6	,	,	PUNCT
emaj-190	360	7	r.	r.	PROPN
emaj-190	360	8	(	(	PUNCT
emaj-190	360	9	1997	1997	NUM
emaj-190	360	10	)	)	PUNCT
emaj-190	360	11	.	.	PUNCT
emaj-190	361	1	trade	trade	NOUN
emaj-190	361	2	credit	credit	NOUN
emaj-190	361	3	:	:	PUNCT
emaj-190	361	4	theories	theory	NOUN
emaj-190	361	5	and	and	CCONJ
emaj-190	361	6	evidence	evidence	NOUN
emaj-190	361	7	.	.	PUNCT
emaj-190	362	1	review	review	NOUN
emaj-190	362	2	of	of	ADP
emaj-190	362	3	financial	financial	ADJ
emaj-190	362	4	studies	study	NOUN
emaj-190	362	5	10(3	10(3	NUM
emaj-190	362	6	)	)	PUNCT
emaj-190	362	7	,	,	PUNCT
emaj-190	362	8	661–691	661–691	NUM
emaj-190	362	9	.	.	PUNCT
emaj-190	363	1	rajan	rajan	PROPN
emaj-190	363	2	,	,	PUNCT
emaj-190	363	3	r.	r.	PROPN
emaj-190	363	4	&	&	CCONJ
emaj-190	363	5	zingales	zingales	PROPN
emaj-190	363	6	,	,	PUNCT
emaj-190	363	7	l.	l.	PROPN
emaj-190	363	8	(	(	PUNCT
emaj-190	363	9	1995	1995	NUM
emaj-190	363	10	)	)	PUNCT
emaj-190	363	11	.	.	PUNCT
emaj-190	364	1	what	what	PRON
emaj-190	364	2	do	do	AUX
emaj-190	364	3	we	we	PRON
emaj-190	364	4	know	know	VERB
emaj-190	364	5	about	about	ADP
emaj-190	364	6	capital	capital	NOUN
emaj-190	364	7	structure	structure	NOUN
emaj-190	364	8	:	:	PUNCT
emaj-190	364	9	some	some	DET
emaj-190	364	10	evidence	evidence	NOUN
emaj-190	364	11	from	from	ADP
emaj-190	364	12	international	international	ADJ
emaj-190	364	13	data	datum	NOUN
emaj-190	364	14	.	.	PUNCT
emaj-190	365	1	journal	journal	PROPN
emaj-190	365	2	of	of	ADP
emaj-190	365	3	finance	finance	NOUN
emaj-190	365	4	,	,	PUNCT
emaj-190	365	5	50(5	50(5	NUM
emaj-190	365	6	)	)	PUNCT
emaj-190	365	7	,	,	PUNCT
emaj-190	365	8	1421–1460	1421–1460	NUM
emaj-190	365	9	.	.	PUNCT
emaj-190	366	1	reinhart	reinhart	PROPN
emaj-190	366	2	,	,	PUNCT
emaj-190	366	3	c.	c.	PROPN
emaj-190	366	4	m.	m.	PROPN
emaj-190	366	5	&	&	CCONJ
emaj-190	366	6	reinhart	reinhart	PROPN
emaj-190	366	7	,	,	PUNCT
emaj-190	366	8	v.	v.	PROPN
emaj-190	366	9	(	(	PUNCT
emaj-190	366	10	2009	2009	NUM
emaj-190	366	11	)	)	PUNCT
emaj-190	366	12	,	,	PUNCT
emaj-190	366	13	capital	capital	NOUN
emaj-190	366	14	flow	flow	NOUN
emaj-190	366	15	bonanzas	bonanza	NOUN
emaj-190	366	16	:	:	PUNCT
emaj-190	366	17	an	an	DET
emaj-190	366	18	encompassing	encompass	VERB
emaj-190	366	19	view	view	NOUN
emaj-190	366	20	of	of	ADP
emaj-190	366	21	the	the	DET
emaj-190	366	22	past	past	NOUN
emaj-190	366	23	and	and	CCONJ
emaj-190	366	24	present	present	ADJ
emaj-190	366	25	(	(	PUNCT
emaj-190	366	26	nber	nber	PROPN
emaj-190	366	27	working	working	PROPN
emaj-190	366	28	paper	paper	PROPN
emaj-190	366	29	no	no	INTJ
emaj-190	366	30	.	.	PROPN
emaj-190	366	31	14321	14321	NUM
emaj-190	366	32	)	)	PUNCT
emaj-190	366	33	.	.	PUNCT
emaj-190	367	1	retrieved	retrieve	VERB
emaj-190	367	2	from	from	ADP
emaj-190	367	3	https://www.nber.org/papers/w14321	https://www.nber.org/papers/w14321	ADJ
emaj-190	367	4	schenone	schenone	NOUN
emaj-190	367	5	,	,	PUNCT
emaj-190	367	6	c.	c.	NOUN
emaj-190	367	7	(	(	PUNCT
emaj-190	367	8	2010	2010	NUM
emaj-190	367	9	)	)	PUNCT
emaj-190	367	10	.	.	PUNCT
emaj-190	368	1	lending	lend	VERB
emaj-190	368	2	relationships	relationship	NOUN
emaj-190	368	3	and	and	CCONJ
emaj-190	368	4	information	information	NOUN
emaj-190	368	5	rents	rent	NOUN
emaj-190	368	6	:	:	PUNCT
emaj-190	368	7	do	do	AUX
emaj-190	368	8	banks	bank	NOUN
emaj-190	368	9	exploit	exploit	VERB
emaj-190	368	10	their	their	PRON
emaj-190	368	11	information	information	NOUN
emaj-190	368	12	advantages	advantage	NOUN
emaj-190	368	13	?	?	PUNCT
emaj-190	369	1	rev	rev	PROPN
emaj-190	369	2	.	.	PROPN
emaj-190	369	3	financ	financ	PROPN
emaj-190	369	4	.	.	PUNCT
emaj-190	370	1	stud	stud	PROPN
emaj-190	370	2	.	.	PUNCT
emaj-190	371	1	23	23	NUM
emaj-190	371	2	,	,	PUNCT
emaj-190	371	3	1149–1199	1149–1199	NUM
emaj-190	371	4	.	.	PUNCT
emaj-190	371	5	beck	beck	PROPN
emaj-190	371	6	,	,	PUNCT
emaj-190	371	7	t.	t.	PROPN
emaj-190	371	8	,	,	PUNCT
emaj-190	371	9	demirgüç	demirgüç	PROPN
emaj-190	371	10	-	-	PUNCT
emaj-190	371	11	kunt	kunt	PROPN
emaj-190	371	12	,	,	PUNCT
emaj-190	371	13	a.	a.	NOUN
emaj-190	371	14	,	,	PUNCT
emaj-190	371	15	&	&	CCONJ
emaj-190	371	16	maximovic	maximovic	ADJ
emaj-190	371	17	,	,	PUNCT
emaj-190	371	18	v.	v.	PROPN
emaj-190	371	19	(	(	PUNCT
emaj-190	371	20	2005	2005	NUM
emaj-190	371	21	)	)	PUNCT
emaj-190	371	22	.	.	PUNCT
emaj-190	372	1	financial	financial	ADJ
emaj-190	372	2	and	and	CCONJ
emaj-190	372	3	legal	legal	ADJ
emaj-190	372	4	constraints	constraint	NOUN
emaj-190	372	5	to	to	ADP
emaj-190	372	6	growth	growth	NOUN
emaj-190	372	7	:	:	PUNCT
emaj-190	372	8	does	do	AUX
emaj-190	372	9	firm	firm	ADJ
emaj-190	372	10	size	size	NOUN
emaj-190	372	11	matter	matter	NOUN
emaj-190	372	12	?	?	PUNCT
emaj-190	373	1	journal	journal	NOUN
emaj-190	373	2	of	of	ADP
emaj-190	373	3	finance	finance	NOUN
emaj-190	373	4	,	,	PUNCT
emaj-190	373	5	60	60	NUM
emaj-190	373	6	(	(	PUNCT
emaj-190	373	7	1	1	NUM
emaj-190	373	8	)	)	PUNCT
emaj-190	373	9	,	,	PUNCT
emaj-190	373	10	137	137	NUM
emaj-190	373	11	-	-	SYM
emaj-190	373	12	177	177	NUM
emaj-190	373	13	.	.	PUNCT
emaj-190	374	1	javascript	javascript	NOUN
emaj-190	374	2	:	:	PUNCT
emaj-190	374	3	;	;	PUNCT
emaj-190	374	4	javascript	javascript	NOUN
emaj-190	374	5	:	:	PUNCT
emaj-190	374	6	;	;	PUNCT
emaj-190	374	7	https://ideas.repec.org/p/imf/imfwpa/03-127.html	https://ideas.repec.org/p/imf/imfwpa/03-127.html	PROPN
emaj-190	374	8	https://ideas.repec.org/p/imf/imfwpa/03-127.html	https://ideas.repec.org/p/imf/imfwpa/03-127.html	PROPN
emaj-190	374	9	https://ideas.repec.org/p/imf/imfwpa/03-127.html	https://ideas.repec.org/p/imf/imfwpa/03-127.html	VERB
emaj-190	374	10	https://ideas.repec.org/s/imf/imfwpa.html	https://ideas.repec.org/s/imf/imfwpa.html	PROPN
emaj-190	374	11	https://ideas.repec.org/s/imf/imfwpa.html	https://ideas.repec.org/s/imf/imfwpa.html	PRON
emaj-190	374	12	https://www.nber.org/papers/w18379	https://www.nber.org/papers/w18379	X
emaj-190	374	13	https://www.nber.org/papers/w14321	https://www.nber.org/papers/w14321	X