id	sid	tid	token	lemma	pos
fbem-11066	1	1	frontiers	frontier	NOUN
fbem-11066	1	2	in	in	ADP
fbem-11066	1	3	business	business	NOUN
fbem-11066	1	4	,	,	PUNCT
fbem-11066	1	5	economics	economic	NOUN
fbem-11066	1	6	and	and	CCONJ
fbem-11066	1	7	management	management	NOUN
fbem-11066	1	8	issn	issn	PROPN
fbem-11066	1	9	:	:	PUNCT
fbem-11066	1	10	2766	2766	NUM
fbem-11066	1	11	-	-	PUNCT
fbem-11066	1	12	824x	824x	NUM
fbem-11066	1	13	|	|	ADJ
fbem-11066	1	14	vol	vol	NOUN
fbem-11066	1	15	.	.	PROPN
fbem-11066	2	1	10	10	NUM
fbem-11066	2	2	,	,	PUNCT
fbem-11066	2	3	no	no	INTJ
fbem-11066	2	4	.	.	NOUN
fbem-11066	2	5	2	2	NUM
fbem-11066	2	6	,	,	PUNCT
fbem-11066	2	7	2023	2023	NUM
fbem-11066	2	8	330	330	NUM
fbem-11066	2	9	the	the	DET
fbem-11066	2	10	impact	impact	NOUN
fbem-11066	2	11	of	of	ADP
fbem-11066	2	12	fintech	fintech	NOUN
fbem-11066	2	13	on	on	ADP
fbem-11066	2	14	economic	economic	ADJ
fbem-11066	2	15	growth	growth	NOUN
fbem-11066	2	16	in	in	ADP
fbem-11066	2	17	singapore	singapore	PROPN
fbem-11066	2	18	jiarong	jiarong	PROPN
fbem-11066	2	19	huang1	huang1	PROPN
fbem-11066	2	20	,	,	PUNCT
fbem-11066	2	21	yinggang	yinggang	PROPN
fbem-11066	2	22	jie2	jie2	PROPN
fbem-11066	2	23	,	,	PUNCT
fbem-11066	2	24	song	song	NOUN
fbem-11066	2	25	wu3	wu3	VERB
fbem-11066	2	26	1	1	NUM
fbem-11066	2	27	faculty	faculty	NOUN
fbem-11066	2	28	of	of	ADP
fbem-11066	2	29	business	business	NOUN
fbem-11066	2	30	and	and	CCONJ
fbem-11066	2	31	economics	economic	NOUN
fbem-11066	2	32	,	,	PUNCT
fbem-11066	2	33	university	university	PROPN
fbem-11066	2	34	of	of	ADP
fbem-11066	2	35	malaya	malaya	PROPN
fbem-11066	2	36	,	,	PUNCT
fbem-11066	2	37	kuala	kuala	PROPN
fbem-11066	2	38	lumpur	lumpur	PROPN
fbem-11066	2	39	,	,	PUNCT
fbem-11066	2	40	50603	50603	NUM
fbem-11066	2	41	,	,	PUNCT
fbem-11066	2	42	malaysia	malaysia	NOUN
fbem-11066	2	43	2	2	NUM
fbem-11066	2	44	faculty	faculty	NOUN
fbem-11066	2	45	of	of	ADP
fbem-11066	2	46	computer	computer	NOUN
fbem-11066	2	47	science	science	NOUN
fbem-11066	2	48	and	and	CCONJ
fbem-11066	2	49	information	information	NOUN
fbem-11066	2	50	technology	technology	NOUN
fbem-11066	2	51	,	,	PUNCT
fbem-11066	2	52	university	university	PROPN
fbem-11066	2	53	of	of	ADP
fbem-11066	2	54	malaya	malaya	PROPN
fbem-11066	2	55	,	,	PUNCT
fbem-11066	2	56	kuala	kuala	PROPN
fbem-11066	2	57	lumpur	lumpur	PROPN
fbem-11066	2	58	,	,	PUNCT
fbem-11066	2	59	50603	50603	NUM
fbem-11066	2	60	,	,	PUNCT
fbem-11066	2	61	malaysia	malaysia	NOUN
fbem-11066	2	62	3	3	NUM
fbem-11066	2	63	faculty	faculty	NOUN
fbem-11066	2	64	of	of	ADP
fbem-11066	2	65	business	business	NOUN
fbem-11066	2	66	management	management	NOUN
fbem-11066	2	67	,	,	PUNCT
fbem-11066	2	68	city	city	PROPN
fbem-11066	2	69	university	university	PROPN
fbem-11066	2	70	malaysia	malaysia	PROPN
fbem-11066	2	71	,	,	PUNCT
fbem-11066	2	72	selangor	selangor	PROPN
fbem-11066	2	73	,	,	PUNCT
fbem-11066	2	74	46100	46100	NUM
fbem-11066	2	75	,	,	PUNCT
fbem-11066	2	76	malaysia	malaysia	PROPN
fbem-11066	2	77	abstract	abstract	NOUN
fbem-11066	2	78	:	:	PUNCT
fbem-11066	2	79	the	the	DET
fbem-11066	2	80	study	study	NOUN
fbem-11066	2	81	examines	examine	VERB
fbem-11066	2	82	the	the	DET
fbem-11066	2	83	impact	impact	NOUN
fbem-11066	2	84	of	of	ADP
fbem-11066	2	85	financial	financial	ADJ
fbem-11066	2	86	technology	technology	NOUN
fbem-11066	2	87	on	on	ADP
fbem-11066	2	88	economic	economic	ADJ
fbem-11066	2	89	growth	growth	NOUN
fbem-11066	2	90	in	in	ADP
fbem-11066	2	91	singapore	singapore	PROPN
fbem-11066	2	92	.	.	PUNCT
fbem-11066	3	1	using	use	VERB
fbem-11066	3	2	time	time	NOUN
fbem-11066	3	3	-	-	PUNCT
fbem-11066	3	4	series	series	NOUN
fbem-11066	3	5	data	datum	NOUN
fbem-11066	3	6	on	on	ADP
fbem-11066	3	7	singapore	singapore	PROPN
fbem-11066	3	8	's	's	PART
fbem-11066	3	9	financial	financial	ADJ
fbem-11066	3	10	technology	technology	NOUN
fbem-11066	3	11	from	from	ADP
fbem-11066	3	12	2010	2010	NUM
fbem-11066	3	13	to	to	ADP
fbem-11066	3	14	2022	2022	NUM
fbem-11066	3	15	,	,	PUNCT
fbem-11066	3	16	the	the	DET
fbem-11066	3	17	study	study	NOUN
fbem-11066	3	18	constructs	construct	VERB
fbem-11066	3	19	a	a	DET
fbem-11066	3	20	financial	financial	ADJ
fbem-11066	3	21	technology	technology	NOUN
fbem-11066	3	22	index	index	NOUN
fbem-11066	3	23	based	base	VERB
fbem-11066	3	24	on	on	ADP
fbem-11066	3	25	a	a	DET
fbem-11066	3	26	comprehensive	comprehensive	ADJ
fbem-11066	3	27	set	set	NOUN
fbem-11066	3	28	of	of	ADP
fbem-11066	3	29	indicators	indicator	NOUN
fbem-11066	3	30	.	.	PUNCT
fbem-11066	4	1	through	through	ADP
fbem-11066	4	2	var	var	PROPN
fbem-11066	4	3	modeling	modeling	NOUN
fbem-11066	4	4	,	,	PUNCT
fbem-11066	4	5	the	the	DET
fbem-11066	4	6	study	study	NOUN
fbem-11066	4	7	assesses	assess	VERB
fbem-11066	4	8	the	the	DET
fbem-11066	4	9	effects	effect	NOUN
fbem-11066	4	10	of	of	ADP
fbem-11066	4	11	financial	financial	ADJ
fbem-11066	4	12	technology	technology	NOUN
fbem-11066	4	13	on	on	ADP
fbem-11066	4	14	the	the	DET
fbem-11066	4	15	interest	interest	NOUN
fbem-11066	4	16	rate	rate	NOUN
fbem-11066	4	17	market	market	NOUN
fbem-11066	4	18	,	,	PUNCT
fbem-11066	4	19	consumer	consumer	NOUN
fbem-11066	4	20	market	market	NOUN
fbem-11066	4	21	,	,	PUNCT
fbem-11066	4	22	and	and	CCONJ
fbem-11066	4	23	investment	investment	NOUN
fbem-11066	4	24	market	market	NOUN
fbem-11066	4	25	,	,	PUNCT
fbem-11066	4	26	as	as	ADV
fbem-11066	4	27	well	well	ADV
fbem-11066	4	28	as	as	ADP
fbem-11066	4	29	its	its	PRON
fbem-11066	4	30	role	role	NOUN
fbem-11066	4	31	in	in	ADP
fbem-11066	4	32	driving	drive	VERB
fbem-11066	4	33	economic	economic	ADJ
fbem-11066	4	34	growth	growth	NOUN
fbem-11066	4	35	.	.	PUNCT
fbem-11066	5	1	the	the	DET
fbem-11066	5	2	results	result	NOUN
fbem-11066	5	3	indicate	indicate	VERB
fbem-11066	5	4	that	that	SCONJ
fbem-11066	5	5	financial	financial	ADJ
fbem-11066	5	6	technology	technology	NOUN
fbem-11066	5	7	has	have	VERB
fbem-11066	5	8	a	a	DET
fbem-11066	5	9	positive	positive	ADJ
fbem-11066	5	10	impact	impact	NOUN
fbem-11066	5	11	on	on	ADP
fbem-11066	5	12	singapore	singapore	PROPN
fbem-11066	5	13	's	's	PART
fbem-11066	5	14	economic	economic	ADJ
fbem-11066	5	15	growth	growth	NOUN
fbem-11066	5	16	.	.	PUNCT
fbem-11066	6	1	the	the	DET
fbem-11066	6	2	calculation	calculation	NOUN
fbem-11066	6	3	of	of	ADP
fbem-11066	6	4	the	the	DET
fbem-11066	6	5	fintech	fintech	NOUN
fbem-11066	6	6	index	index	NOUN
fbem-11066	6	7	reveals	reveal	VERB
fbem-11066	6	8	a	a	DET
fbem-11066	6	9	continuous	continuous	ADJ
fbem-11066	6	10	improvement	improvement	NOUN
fbem-11066	6	11	in	in	ADP
fbem-11066	6	12	singapore	singapore	PROPN
fbem-11066	6	13	's	's	PART
fbem-11066	6	14	level	level	NOUN
fbem-11066	6	15	of	of	ADP
fbem-11066	6	16	financial	financial	ADJ
fbem-11066	6	17	technology	technology	NOUN
fbem-11066	6	18	.	.	PUNCT
fbem-11066	7	1	the	the	DET
fbem-11066	7	2	var	var	NOUN
fbem-11066	7	3	analysis	analysis	NOUN
fbem-11066	7	4	demonstrates	demonstrate	VERB
fbem-11066	7	5	that	that	SCONJ
fbem-11066	7	6	the	the	DET
fbem-11066	7	7	development	development	NOUN
fbem-11066	7	8	of	of	ADP
fbem-11066	7	9	financial	financial	ADJ
fbem-11066	7	10	technology	technology	NOUN
fbem-11066	7	11	has	have	VERB
fbem-11066	7	12	significant	significant	ADJ
fbem-11066	7	13	impacts	impact	NOUN
fbem-11066	7	14	on	on	ADP
fbem-11066	7	15	the	the	DET
fbem-11066	7	16	interest	interest	NOUN
fbem-11066	7	17	rate	rate	NOUN
fbem-11066	7	18	market	market	NOUN
fbem-11066	7	19	,	,	PUNCT
fbem-11066	7	20	consumer	consumer	NOUN
fbem-11066	7	21	market	market	NOUN
fbem-11066	7	22	,	,	PUNCT
fbem-11066	7	23	and	and	CCONJ
fbem-11066	7	24	investment	investment	NOUN
fbem-11066	7	25	market	market	NOUN
fbem-11066	7	26	in	in	ADP
fbem-11066	7	27	singapore	singapore	PROPN
fbem-11066	7	28	.	.	PUNCT
fbem-11066	8	1	this	this	PRON
fbem-11066	8	2	suggests	suggest	VERB
fbem-11066	8	3	that	that	SCONJ
fbem-11066	8	4	the	the	DET
fbem-11066	8	5	advancement	advancement	NOUN
fbem-11066	8	6	of	of	ADP
fbem-11066	8	7	financial	financial	ADJ
fbem-11066	8	8	technology	technology	NOUN
fbem-11066	8	9	helps	help	VERB
fbem-11066	8	10	lower	low	ADJ
fbem-11066	8	11	market	market	NOUN
fbem-11066	8	12	interest	interest	NOUN
fbem-11066	8	13	rates	rate	NOUN
fbem-11066	8	14	,	,	PUNCT
fbem-11066	8	15	enhances	enhance	VERB
fbem-11066	8	16	the	the	DET
fbem-11066	8	17	experiences	experience	NOUN
fbem-11066	8	18	of	of	ADP
fbem-11066	8	19	consumers	consumer	NOUN
fbem-11066	8	20	and	and	CCONJ
fbem-11066	8	21	investors	investor	NOUN
fbem-11066	8	22	,	,	PUNCT
fbem-11066	8	23	and	and	CCONJ
fbem-11066	8	24	promotes	promote	VERB
fbem-11066	8	25	consumption	consumption	NOUN
fbem-11066	8	26	and	and	CCONJ
fbem-11066	8	27	investment	investment	NOUN
fbem-11066	8	28	growth	growth	NOUN
fbem-11066	8	29	.	.	PUNCT
fbem-11066	9	1	these	these	DET
fbem-11066	9	2	findings	finding	NOUN
fbem-11066	9	3	highlight	highlight	VERB
fbem-11066	9	4	the	the	DET
fbem-11066	9	5	significant	significant	ADJ
fbem-11066	9	6	role	role	NOUN
fbem-11066	9	7	of	of	ADP
fbem-11066	9	8	financial	financial	ADJ
fbem-11066	9	9	technology	technology	NOUN
fbem-11066	9	10	in	in	ADP
fbem-11066	9	11	driving	drive	VERB
fbem-11066	9	12	economic	economic	ADJ
fbem-11066	9	13	growth	growth	NOUN
fbem-11066	9	14	in	in	ADP
fbem-11066	9	15	singapore	singapore	PROPN
fbem-11066	9	16	.	.	PUNCT
fbem-11066	10	1	keywords	keyword	NOUN
fbem-11066	10	2	:	:	PUNCT
fbem-11066	10	3	financial	financial	ADJ
fbem-11066	10	4	technology	technology	NOUN
fbem-11066	10	5	,	,	PUNCT
fbem-11066	10	6	financial	financial	ADJ
fbem-11066	10	7	technology	technology	NOUN
fbem-11066	10	8	index	index	NOUN
fbem-11066	10	9	,	,	PUNCT
fbem-11066	10	10	economic	economic	ADJ
fbem-11066	10	11	growth	growth	NOUN
fbem-11066	10	12	,	,	PUNCT
fbem-11066	10	13	entropy	entropy	PROPN
fbem-11066	10	14	,	,	PUNCT
fbem-11066	10	15	var	var	NOUN
fbem-11066	10	16	model	model	NOUN
fbem-11066	10	17	.	.	PUNCT
fbem-11066	11	1	1	1	X
fbem-11066	11	2	.	.	X
fbem-11066	11	3	introduction	introduction	NOUN
fbem-11066	11	4	despite	despite	SCONJ
fbem-11066	11	5	the	the	DET
fbem-11066	11	6	thriving	thriving	ADJ
fbem-11066	11	7	fintech	fintech	NOUN
fbem-11066	11	8	industry	industry	NOUN
fbem-11066	11	9	globally	globally	ADV
fbem-11066	11	10	,	,	PUNCT
fbem-11066	11	11	its	its	PRON
fbem-11066	11	12	specific	specific	ADJ
fbem-11066	11	13	impact	impact	NOUN
fbem-11066	11	14	on	on	ADP
fbem-11066	11	15	economies	economy	NOUN
fbem-11066	11	16	,	,	PUNCT
fbem-11066	11	17	particularly	particularly	ADV
fbem-11066	11	18	singapore	singapore	PROPN
fbem-11066	11	19	's	's	PART
fbem-11066	11	20	,	,	PUNCT
fbem-11066	11	21	remains	remain	VERB
fbem-11066	11	22	under	under	ADV
fbem-11066	11	23	-	-	PUNCT
fbem-11066	11	24	studied	study	VERB
fbem-11066	11	25	.	.	PUNCT
fbem-11066	12	1	this	this	DET
fbem-11066	12	2	study	study	NOUN
fbem-11066	12	3	aims	aim	VERB
fbem-11066	12	4	to	to	PART
fbem-11066	12	5	elucidate	elucidate	VERB
fbem-11066	12	6	this	this	DET
fbem-11066	12	7	relationship	relationship	NOUN
fbem-11066	12	8	.	.	PUNCT
fbem-11066	13	1	with	with	ADP
fbem-11066	13	2	singapore	singapore	PROPN
fbem-11066	13	3	being	be	AUX
fbem-11066	13	4	a	a	DET
fbem-11066	13	5	global	global	ADJ
fbem-11066	13	6	financial	financial	ADJ
fbem-11066	13	7	hub	hub	NOUN
fbem-11066	13	8	and	and	CCONJ
fbem-11066	13	9	a	a	DET
fbem-11066	13	10	leader	leader	NOUN
fbem-11066	13	11	in	in	ADP
fbem-11066	13	12	both	both	DET
fbem-11066	13	13	traditional	traditional	ADJ
fbem-11066	13	14	finance	finance	NOUN
fbem-11066	13	15	and	and	CCONJ
fbem-11066	13	16	fintech	fintech	NOUN
fbem-11066	13	17	innovation	innovation	NOUN
fbem-11066	13	18	,	,	PUNCT
fbem-11066	13	19	examining	examine	VERB
fbem-11066	13	20	its	its	PRON
fbem-11066	13	21	fintech	fintech	NOUN
fbem-11066	13	22	advancement	advancement	NOUN
fbem-11066	13	23	offers	offer	VERB
fbem-11066	13	24	invaluable	invaluable	ADJ
fbem-11066	13	25	local	local	ADJ
fbem-11066	13	26	and	and	CCONJ
fbem-11066	13	27	international	international	ADJ
fbem-11066	13	28	implications	implication	NOUN
fbem-11066	13	29	.	.	PUNCT
fbem-11066	14	1	coupled	couple	VERB
fbem-11066	14	2	with	with	ADP
fbem-11066	14	3	its	its	PRON
fbem-11066	14	4	high	high	ADJ
fbem-11066	14	5	digital	digital	ADJ
fbem-11066	14	6	transformation	transformation	NOUN
fbem-11066	14	7	acceptance	acceptance	NOUN
fbem-11066	14	8	,	,	PUNCT
fbem-11066	14	9	demonstrated	demonstrate	VERB
fbem-11066	14	10	by	by	ADP
fbem-11066	14	11	widespread	widespread	ADJ
fbem-11066	14	12	digital	digital	ADJ
fbem-11066	14	13	payment	payment	NOUN
fbem-11066	14	14	and	and	CCONJ
fbem-11066	14	15	e	e	NOUN
fbem-11066	14	16	-	-	NOUN
fbem-11066	14	17	commerce	commerce	NOUN
fbem-11066	14	18	usage	usage	NOUN
fbem-11066	14	19	,	,	PUNCT
fbem-11066	14	20	and	and	CCONJ
fbem-11066	14	21	a	a	DET
fbem-11066	14	22	developed	develop	VERB
fbem-11066	14	23	economy	economy	NOUN
fbem-11066	14	24	with	with	ADP
fbem-11066	14	25	extensive	extensive	ADJ
fbem-11066	14	26	international	international	ADJ
fbem-11066	14	27	financial	financial	ADJ
fbem-11066	14	28	connections	connection	NOUN
fbem-11066	14	29	,	,	PUNCT
fbem-11066	14	30	singapore	singapore	PROPN
fbem-11066	14	31	provides	provide	VERB
fbem-11066	14	32	an	an	DET
fbem-11066	14	33	ideal	ideal	ADJ
fbem-11066	14	34	research	research	NOUN
fbem-11066	14	35	setting	setting	NOUN
fbem-11066	14	36	.	.	PUNCT
fbem-11066	15	1	this	this	DET
fbem-11066	15	2	research	research	NOUN
fbem-11066	15	3	investigates	investigate	VERB
fbem-11066	15	4	fintech	fintech	NOUN
fbem-11066	15	5	's	's	PART
fbem-11066	15	6	impact	impact	NOUN
fbem-11066	15	7	on	on	ADP
fbem-11066	15	8	singapore	singapore	PROPN
fbem-11066	15	9	's	's	PART
fbem-11066	15	10	economic	economic	ADJ
fbem-11066	15	11	growth	growth	NOUN
fbem-11066	15	12	from	from	ADP
fbem-11066	15	13	2010	2010	NUM
fbem-11066	15	14	to	to	ADP
fbem-11066	15	15	2022	2022	NUM
fbem-11066	15	16	by	by	ADP
fbem-11066	15	17	constructing	construct	VERB
fbem-11066	15	18	a	a	DET
fbem-11066	15	19	fintech	fintech	NOUN
fbem-11066	15	20	indicator	indicator	NOUN
fbem-11066	15	21	framework	framework	NOUN
fbem-11066	15	22	and	and	CCONJ
fbem-11066	15	23	utilizing	utilize	VERB
fbem-11066	15	24	a	a	DET
fbem-11066	15	25	var	var	NOUN
fbem-11066	15	26	model	model	NOUN
fbem-11066	15	27	.	.	PUNCT
fbem-11066	16	1	it	it	PRON
fbem-11066	16	2	explores	explore	VERB
fbem-11066	16	3	the	the	DET
fbem-11066	16	4	state	state	NOUN
fbem-11066	16	5	of	of	ADP
fbem-11066	16	6	fintech	fintech	NOUN
fbem-11066	16	7	in	in	ADP
fbem-11066	16	8	singapore	singapore	PROPN
fbem-11066	16	9	and	and	CCONJ
fbem-11066	16	10	its	its	PRON
fbem-11066	16	11	impact	impact	NOUN
fbem-11066	16	12	on	on	ADP
fbem-11066	16	13	interest	interest	NOUN
fbem-11066	16	14	rates	rate	NOUN
fbem-11066	16	15	,	,	PUNCT
fbem-11066	16	16	consumption	consumption	NOUN
fbem-11066	16	17	,	,	PUNCT
fbem-11066	16	18	and	and	CCONJ
fbem-11066	16	19	investment	investment	NOUN
fbem-11066	16	20	markets	market	NOUN
fbem-11066	16	21	,	,	PUNCT
fbem-11066	16	22	probing	probe	VERB
fbem-11066	16	23	the	the	DET
fbem-11066	16	24	mechanisms	mechanism	NOUN
fbem-11066	16	25	through	through	ADP
fbem-11066	16	26	which	which	PRON
fbem-11066	16	27	fintech	fintech	NOUN
fbem-11066	16	28	influences	influence	VERB
fbem-11066	16	29	economic	economic	ADJ
fbem-11066	16	30	growth	growth	NOUN
fbem-11066	16	31	.	.	PUNCT
fbem-11066	17	1	the	the	DET
fbem-11066	17	2	goal	goal	NOUN
fbem-11066	17	3	is	be	AUX
fbem-11066	17	4	to	to	PART
fbem-11066	17	5	analyze	analyze	VERB
fbem-11066	17	6	fintech	fintech	NOUN
fbem-11066	17	7	's	's	PART
fbem-11066	17	8	direct	direct	ADJ
fbem-11066	17	9	and	and	CCONJ
fbem-11066	17	10	indirect	indirect	ADJ
fbem-11066	17	11	influence	influence	NOUN
fbem-11066	17	12	on	on	ADP
fbem-11066	17	13	singapore	singapore	PROPN
fbem-11066	17	14	's	's	PART
fbem-11066	17	15	economic	economic	ADJ
fbem-11066	17	16	sectors	sector	NOUN
fbem-11066	17	17	,	,	PUNCT
fbem-11066	17	18	thereby	thereby	ADV
fbem-11066	17	19	guiding	guide	VERB
fbem-11066	17	20	policy	policy	NOUN
fbem-11066	17	21	recommendations	recommendation	NOUN
fbem-11066	17	22	to	to	PART
fbem-11066	17	23	further	far	ADV
fbem-11066	17	24	enhance	enhance	VERB
fbem-11066	17	25	fintech	fintech	NOUN
fbem-11066	17	26	development	development	NOUN
fbem-11066	17	27	and	and	CCONJ
fbem-11066	17	28	economic	economic	ADJ
fbem-11066	17	29	growth	growth	NOUN
fbem-11066	17	30	.	.	PUNCT
fbem-11066	18	1	by	by	ADP
fbem-11066	18	2	examining	examine	VERB
fbem-11066	18	3	fintech	fintech	NOUN
fbem-11066	18	4	's	's	PART
fbem-11066	18	5	actual	actual	ADJ
fbem-11066	18	6	influence	influence	NOUN
fbem-11066	18	7	,	,	PUNCT
fbem-11066	18	8	this	this	DET
fbem-11066	18	9	research	research	NOUN
fbem-11066	18	10	strives	strive	VERB
fbem-11066	18	11	to	to	PART
fbem-11066	18	12	reveal	reveal	VERB
fbem-11066	18	13	its	its	PRON
fbem-11066	18	14	potential	potential	ADJ
fbem-11066	18	15	applications	application	NOUN
fbem-11066	18	16	,	,	PUNCT
fbem-11066	18	17	stimulate	stimulate	VERB
fbem-11066	18	18	efficient	efficient	ADJ
fbem-11066	18	19	financial	financial	ADJ
fbem-11066	18	20	resource	resource	NOUN
fbem-11066	18	21	allocation	allocation	NOUN
fbem-11066	18	22	,	,	PUNCT
fbem-11066	18	23	and	and	CCONJ
fbem-11066	18	24	contribute	contribute	VERB
fbem-11066	18	25	to	to	ADP
fbem-11066	18	26	singapore	singapore	PROPN
fbem-11066	18	27	's	's	PART
fbem-11066	18	28	emergence	emergence	NOUN
fbem-11066	18	29	as	as	ADP
fbem-11066	18	30	a	a	DET
fbem-11066	18	31	global	global	ADJ
fbem-11066	18	32	fintech	fintech	NOUN
fbem-11066	18	33	hub	hub	NOUN
fbem-11066	18	34	.	.	PUNCT
fbem-11066	19	1	2	2	X
fbem-11066	19	2	.	.	X
fbem-11066	19	3	literature	literature	PROPN
fbem-11066	19	4	review	review	NOUN
fbem-11066	19	5	"	"	PUNCT
fbem-11066	19	6	fintech	fintech	NOUN
fbem-11066	19	7	,	,	PUNCT
fbem-11066	19	8	"	"	PUNCT
fbem-11066	19	9	a	a	DET
fbem-11066	19	10	portmanteau	portmanteau	NOUN
fbem-11066	19	11	of	of	ADP
fbem-11066	19	12	"	"	PUNCT
fbem-11066	19	13	finance	finance	NOUN
fbem-11066	19	14	"	"	PUNCT
fbem-11066	19	15	and	and	CCONJ
fbem-11066	19	16	"	"	PUNCT
fbem-11066	19	17	technology	technology	NOUN
fbem-11066	19	18	,	,	PUNCT
fbem-11066	19	19	"	"	PUNCT
fbem-11066	19	20	represents	represent	VERB
fbem-11066	19	21	a	a	DET
fbem-11066	19	22	transformative	transformative	ADJ
fbem-11066	19	23	sector	sector	NOUN
fbem-11066	19	24	leveraging	leverage	VERB
fbem-11066	19	25	innovative	innovative	ADJ
fbem-11066	19	26	software	software	NOUN
fbem-11066	19	27	to	to	PART
fbem-11066	19	28	deliver	deliver	VERB
fbem-11066	19	29	on	on	ADP
fbem-11066	19	30	-	-	PUNCT
fbem-11066	19	31	demand	demand	NOUN
fbem-11066	19	32	services	service	NOUN
fbem-11066	19	33	,	,	PUNCT
fbem-11066	19	34	primarily	primarily	ADV
fbem-11066	19	35	in	in	ADP
fbem-11066	19	36	finance	finance	NOUN
fbem-11066	19	37	(	(	PUNCT
fbem-11066	19	38	gomber	gomber	PROPN
fbem-11066	19	39	,	,	PUNCT
fbem-11066	19	40	koch	koch	PROPN
fbem-11066	19	41	,	,	PUNCT
fbem-11066	19	42	and	and	CCONJ
fbem-11066	19	43	siering	siering	NOUN
fbem-11066	19	44	,	,	PUNCT
fbem-11066	19	45	2017	2017	NUM
fbem-11066	19	46	;	;	PUNCT
fbem-11066	19	47	shin	shin	NOUN
fbem-11066	19	48	and	and	CCONJ
fbem-11066	19	49	choi	choi	NOUN
fbem-11066	19	50	,	,	PUNCT
fbem-11066	19	51	2019	2019	NUM
fbem-11066	19	52	)	)	PUNCT
fbem-11066	19	53	.	.	PUNCT
fbem-11066	20	1	with	with	ADP
fbem-11066	20	2	the	the	DET
fbem-11066	20	3	sector	sector	NOUN
fbem-11066	20	4	's	's	PART
fbem-11066	20	5	genesis	genesis	NOUN
fbem-11066	20	6	in	in	ADP
fbem-11066	20	7	the	the	DET
fbem-11066	20	8	united	united	PROPN
fbem-11066	20	9	states	states	PROPN
fbem-11066	20	10	,	,	PUNCT
fbem-11066	20	11	it	it	PRON
fbem-11066	20	12	has	have	AUX
fbem-11066	20	13	flourished	flourish	VERB
fbem-11066	20	14	notably	notably	ADV
fbem-11066	20	15	in	in	ADP
fbem-11066	20	16	britain	britain	PROPN
fbem-11066	20	17	and	and	CCONJ
fbem-11066	20	18	singapore	singapore	PROPN
fbem-11066	20	19	,	,	PUNCT
fbem-11066	20	20	with	with	ADP
fbem-11066	20	21	significant	significant	ADJ
fbem-11066	20	22	global	global	ADJ
fbem-11066	20	23	financial	financial	ADJ
fbem-11066	20	24	investments	investment	NOUN
fbem-11066	20	25	made	make	VERB
fbem-11066	20	26	year	year	NOUN
fbem-11066	20	27	-	-	PUNCT
fbem-11066	20	28	on	on	ADP
fbem-11066	20	29	-	-	PUNCT
fbem-11066	20	30	year	year	NOUN
fbem-11066	20	31	.	.	PUNCT
fbem-11066	21	1	singapore	singapore	PROPN
fbem-11066	21	2	has	have	AUX
fbem-11066	21	3	proven	prove	VERB
fbem-11066	21	4	itself	itself	PRON
fbem-11066	21	5	a	a	DET
fbem-11066	21	6	technological	technological	ADJ
fbem-11066	21	7	powerhouse	powerhouse	NOUN
fbem-11066	21	8	,	,	PUNCT
fbem-11066	21	9	with	with	ADP
fbem-11066	21	10	advancements	advancement	NOUN
fbem-11066	21	11	in	in	ADP
fbem-11066	21	12	artificial	artificial	ADJ
fbem-11066	21	13	intelligence	intelligence	NOUN
fbem-11066	21	14	,	,	PUNCT
fbem-11066	21	15	internet	internet	NOUN
fbem-11066	21	16	of	of	ADP
fbem-11066	21	17	things	thing	NOUN
fbem-11066	21	18	,	,	PUNCT
fbem-11066	21	19	and	and	CCONJ
fbem-11066	21	20	fintech	fintech	NOUN
fbem-11066	21	21	,	,	PUNCT
fbem-11066	21	22	making	make	VERB
fbem-11066	21	23	it	it	PRON
fbem-11066	21	24	an	an	DET
fbem-11066	21	25	attractive	attractive	ADJ
fbem-11066	21	26	destination	destination	NOUN
fbem-11066	21	27	for	for	ADP
fbem-11066	21	28	fintech	fintech	NOUN
fbem-11066	21	29	-	-	PUNCT
fbem-11066	21	30	related	relate	VERB
fbem-11066	21	31	companies	company	NOUN
fbem-11066	21	32	and	and	CCONJ
fbem-11066	21	33	investors	investor	NOUN
fbem-11066	21	34	.	.	PUNCT
fbem-11066	22	1	its	its	PRON
fbem-11066	22	2	surge	surge	NOUN
fbem-11066	22	3	in	in	ADP
fbem-11066	22	4	the	the	DET
fbem-11066	22	5	global	global	ADJ
fbem-11066	22	6	financial	financial	ADJ
fbem-11066	22	7	centre	centre	NOUN
fbem-11066	22	8	index	index	NOUN
fbem-11066	22	9	(	(	PUNCT
fbem-11066	22	10	gfci	gfci	NOUN
fbem-11066	22	11	)	)	PUNCT
fbem-11066	22	12	2022	2022	NUM
fbem-11066	22	13	is	be	AUX
fbem-11066	22	14	testimony	testimony	NOUN
fbem-11066	22	15	to	to	ADP
fbem-11066	22	16	its	its	PRON
fbem-11066	22	17	strategic	strategic	ADJ
fbem-11066	22	18	advantages	advantage	NOUN
fbem-11066	22	19	and	and	CCONJ
fbem-11066	22	20	fintech	fintech	NOUN
fbem-11066	22	21	development	development	NOUN
fbem-11066	22	22	,	,	PUNCT
fbem-11066	22	23	fostering	foster	VERB
fbem-11066	22	24	its	its	PRON
fbem-11066	22	25	global	global	ADJ
fbem-11066	22	26	standing	standing	NOUN
fbem-11066	22	27	and	and	CCONJ
fbem-11066	22	28	economic	economic	ADJ
fbem-11066	22	29	growth	growth	NOUN
fbem-11066	22	30	.	.	PUNCT
fbem-11066	23	1	the	the	DET
fbem-11066	23	2	inherent	inherent	ADJ
fbem-11066	23	3	value	value	NOUN
fbem-11066	23	4	of	of	ADP
fbem-11066	23	5	fintech	fintech	NOUN
fbem-11066	23	6	lies	lie	VERB
fbem-11066	23	7	in	in	ADP
fbem-11066	23	8	its	its	PRON
fbem-11066	23	9	ability	ability	NOUN
fbem-11066	23	10	to	to	PART
fbem-11066	23	11	enrich	enrich	VERB
fbem-11066	23	12	financial	financial	ADJ
fbem-11066	23	13	functions	function	NOUN
fbem-11066	23	14	,	,	PUNCT
fbem-11066	23	15	optimize	optimize	VERB
fbem-11066	23	16	resource	resource	NOUN
fbem-11066	23	17	allocation	allocation	NOUN
fbem-11066	23	18	,	,	PUNCT
fbem-11066	23	19	and	and	CCONJ
fbem-11066	23	20	foster	foster	ADJ
fbem-11066	23	21	green	green	ADJ
fbem-11066	23	22	economic	economic	ADJ
fbem-11066	23	23	growth	growth	NOUN
fbem-11066	23	24	(	(	PUNCT
fbem-11066	23	25	leckow	leckow	NOUN
fbem-11066	23	26	,	,	PUNCT
fbem-11066	23	27	haksar,2017	haksar,2017	INTJ
fbem-11066	23	28	;	;	PUNCT
fbem-11066	23	29	junhua	junhua	PROPN
fbem-11066	23	30	han	han	PROPN
fbem-11066	23	31	,	,	PUNCT
fbem-11066	23	32	quan	quan	PROPN
fbem-11066	23	33	zhou	zhou	PROPN
fbem-11066	23	34	,	,	PUNCT
fbem-11066	23	35	hongchang	hongchang	PROPN
fbem-11066	23	36	wang,2019	wang,2019	PROPN
fbem-11066	23	37	)	)	PUNCT
fbem-11066	23	38	.	.	PUNCT
fbem-11066	24	1	however	however	ADV
fbem-11066	24	2	,	,	PUNCT
fbem-11066	24	3	while	while	SCONJ
fbem-11066	24	4	the	the	DET
fbem-11066	24	5	interplay	interplay	NOUN
fbem-11066	24	6	of	of	ADP
fbem-11066	24	7	fintech	fintech	NOUN
fbem-11066	24	8	and	and	CCONJ
fbem-11066	24	9	economic	economic	ADJ
fbem-11066	24	10	growth	growth	NOUN
fbem-11066	24	11	is	be	AUX
fbem-11066	24	12	evident	evident	ADJ
fbem-11066	24	13	,	,	PUNCT
fbem-11066	24	14	literature	literature	NOUN
fbem-11066	24	15	gaps	gap	NOUN
fbem-11066	24	16	exist	exist	VERB
fbem-11066	24	17	,	,	PUNCT
fbem-11066	24	18	with	with	ADP
fbem-11066	24	19	most	most	ADJ
fbem-11066	24	20	analysis	analysis	NOUN
fbem-11066	24	21	being	be	AUX
fbem-11066	24	22	qualitative	qualitative	ADJ
fbem-11066	24	23	or	or	CCONJ
fbem-11066	24	24	theoretical	theoretical	ADJ
fbem-11066	24	25	(	(	PUNCT
fbem-11066	24	26	luo	luo	PROPN
fbem-11066	24	27	,	,	PUNCT
fbem-11066	24	28	sun	sun	PROPN
fbem-11066	24	29	,	,	PUNCT
fbem-11066	24	30	yang	yang	PROPN
fbem-11066	24	31	,	,	PUNCT
fbem-11066	24	32	zhou,2022	zhou,2022	PROPN
fbem-11066	24	33	)	)	PUNCT
fbem-11066	24	34	.	.	PUNCT
fbem-11066	25	1	key	key	ADJ
fbem-11066	25	2	questions	question	NOUN
fbem-11066	25	3	remain	remain	VERB
fbem-11066	25	4	unanswered	unanswered	ADJ
fbem-11066	25	5	:	:	PUNCT
fbem-11066	25	6	how	how	SCONJ
fbem-11066	25	7	does	do	AUX
fbem-11066	25	8	fintech	fintech	NOUN
fbem-11066	25	9	affect	affect	VERB
fbem-11066	25	10	economic	economic	ADJ
fbem-11066	25	11	growth	growth	NOUN
fbem-11066	25	12	?	?	PUNCT
fbem-11066	26	1	is	be	AUX
fbem-11066	26	2	its	its	PRON
fbem-11066	26	3	effect	effect	NOUN
fbem-11066	26	4	promoting	promote	VERB
fbem-11066	26	5	or	or	CCONJ
fbem-11066	26	6	inhibiting	inhibit	VERB
fbem-11066	26	7	?	?	PUNCT
fbem-11066	27	1	what	what	PRON
fbem-11066	27	2	pathways	pathway	NOUN
fbem-11066	27	3	does	do	AUX
fbem-11066	27	4	fintech	fintech	NOUN
fbem-11066	27	5	utilize	utilize	VERB
fbem-11066	27	6	to	to	PART
fbem-11066	27	7	influence	influence	VERB
fbem-11066	27	8	economic	economic	ADJ
fbem-11066	27	9	growth	growth	NOUN
fbem-11066	27	10	?	?	PUNCT
fbem-11066	28	1	this	this	DET
fbem-11066	28	2	study	study	NOUN
fbem-11066	28	3	attempts	attempt	VERB
fbem-11066	28	4	to	to	PART
fbem-11066	28	5	bridge	bridge	VERB
fbem-11066	28	6	this	this	DET
fbem-11066	28	7	gap	gap	NOUN
fbem-11066	28	8	by	by	ADP
fbem-11066	28	9	quantitatively	quantitatively	ADV
fbem-11066	28	10	examining	examine	VERB
fbem-11066	28	11	the	the	DET
fbem-11066	28	12	relationship	relationship	NOUN
fbem-11066	28	13	between	between	ADP
fbem-11066	28	14	fintech	fintech	NOUN
fbem-11066	28	15	and	and	CCONJ
fbem-11066	28	16	economic	economic	ADJ
fbem-11066	28	17	growth	growth	NOUN
fbem-11066	28	18	,	,	PUNCT
fbem-11066	28	19	particularly	particularly	ADV
fbem-11066	28	20	in	in	ADP
fbem-11066	28	21	singapore	singapore	PROPN
fbem-11066	28	22	,	,	PUNCT
fbem-11066	28	23	from	from	ADP
fbem-11066	28	24	2010	2010	NUM
fbem-11066	28	25	to	to	ADP
fbem-11066	28	26	2022	2022	NUM
fbem-11066	28	27	.	.	PUNCT
fbem-11066	29	1	the	the	DET
fbem-11066	29	2	research	research	NOUN
fbem-11066	29	3	process	process	NOUN
fbem-11066	29	4	includes	include	VERB
fbem-11066	29	5	conceptual	conceptual	ADJ
fbem-11066	29	6	definition	definition	NOUN
fbem-11066	29	7	,	,	PUNCT
fbem-11066	29	8	theoretical	theoretical	ADJ
fbem-11066	29	9	analysis	analysis	NOUN
fbem-11066	29	10	,	,	PUNCT
fbem-11066	29	11	and	and	CCONJ
fbem-11066	29	12	empirical	empirical	ADJ
fbem-11066	29	13	methodology	methodology	NOUN
fbem-11066	29	14	.	.	PUNCT
fbem-11066	30	1	it	it	PRON
fbem-11066	30	2	assesses	assess	VERB
fbem-11066	30	3	the	the	DET
fbem-11066	30	4	direct	direct	ADJ
fbem-11066	30	5	and	and	CCONJ
fbem-11066	30	6	indirect	indirect	ADJ
fbem-11066	30	7	impact	impact	NOUN
fbem-11066	30	8	of	of	ADP
fbem-11066	30	9	fintech	fintech	NOUN
fbem-11066	30	10	on	on	ADP
fbem-11066	30	11	interest	interest	NOUN
fbem-11066	30	12	rates	rate	NOUN
fbem-11066	30	13	,	,	PUNCT
fbem-11066	30	14	consumer	consumer	NOUN
fbem-11066	30	15	markets	market	NOUN
fbem-11066	30	16	,	,	PUNCT
fbem-11066	30	17	investment	investment	NOUN
fbem-11066	30	18	markets	market	NOUN
fbem-11066	30	19	,	,	PUNCT
fbem-11066	30	20	and	and	CCONJ
fbem-11066	30	21	economic	economic	ADJ
fbem-11066	30	22	output	output	NOUN
fbem-11066	30	23	.	.	PUNCT
fbem-11066	31	1	the	the	DET
fbem-11066	31	2	findings	finding	NOUN
fbem-11066	31	3	will	will	AUX
fbem-11066	31	4	enhance	enhance	VERB
fbem-11066	31	5	understanding	understanding	NOUN
fbem-11066	31	6	and	and	CCONJ
fbem-11066	31	7	inform	inform	VERB
fbem-11066	31	8	policy	policy	NOUN
fbem-11066	31	9	recommendations	recommendation	NOUN
fbem-11066	31	10	,	,	PUNCT
fbem-11066	31	11	fostering	foster	VERB
fbem-11066	31	12	fintech	fintech	NOUN
fbem-11066	31	13	innovation	innovation	NOUN
fbem-11066	31	14	and	and	CCONJ
fbem-11066	31	15	driving	drive	VERB
fbem-11066	31	16	singapore	singapore	PROPN
fbem-11066	31	17	's	's	PART
fbem-11066	31	18	economic	economic	ADJ
fbem-11066	31	19	development	development	NOUN
fbem-11066	31	20	.	.	PUNCT
fbem-11066	32	1	3	3	X
fbem-11066	32	2	.	.	X
fbem-11066	32	3	methodology	methodology	NOUN
fbem-11066	32	4	3.1	3.1	NUM
fbem-11066	32	5	.	.	PUNCT
fbem-11066	33	1	introduction	introduction	NOUN
fbem-11066	33	2	exploring	explore	VERB
fbem-11066	33	3	financial	financial	ADJ
fbem-11066	33	4	technology	technology	NOUN
fbem-11066	33	5	measurement	measurement	NOUN
fbem-11066	33	6	,	,	PUNCT
fbem-11066	33	7	this	this	DET
fbem-11066	33	8	research	research	NOUN
fbem-11066	33	9	employs	employ	VERB
fbem-11066	33	10	qualitative	qualitative	ADJ
fbem-11066	33	11	and	and	CCONJ
fbem-11066	33	12	quantitative	quantitative	ADJ
fbem-11066	33	13	analysis	analysis	NOUN
fbem-11066	33	14	,	,	PUNCT
fbem-11066	33	15	constructing	construct	VERB
fbem-11066	33	16	a	a	DET
fbem-11066	33	17	financial	financial	ADJ
fbem-11066	33	18	technology	technology	NOUN
fbem-11066	33	19	index	index	NOUN
fbem-11066	33	20	via	via	ADP
fbem-11066	33	21	the	the	DET
fbem-11066	33	22	entropy	entropy	NOUN
fbem-11066	33	23	method	method	NOUN
fbem-11066	33	24	to	to	PART
fbem-11066	33	25	measure	measure	VERB
fbem-11066	33	26	regional	regional	ADJ
fbem-11066	33	27	fintech	fintech	NOUN
fbem-11066	33	28	development	development	NOUN
fbem-11066	33	29	.	.	PUNCT
fbem-11066	34	1	it	it	PRON
fbem-11066	34	2	provides	provide	VERB
fbem-11066	34	3	a	a	DET
fbem-11066	34	4	comprehensive	comprehensive	ADJ
fbem-11066	34	5	assessment	assessment	NOUN
fbem-11066	34	6	of	of	ADP
fbem-11066	34	7	fintech	fintech	NOUN
fbem-11066	34	8	's	's	PART
fbem-11066	34	9	influence	influence	NOUN
fbem-11066	34	10	on	on	ADP
fbem-11066	34	11	interest	interest	NOUN
fbem-11066	34	12	rates	rate	NOUN
fbem-11066	34	13	,	,	PUNCT
fbem-11066	34	14	consumer	consumer	NOUN
fbem-11066	34	15	and	and	CCONJ
fbem-11066	34	16	investment	investment	NOUN
fbem-11066	34	17	markets	market	NOUN
fbem-11066	34	18	,	,	PUNCT
fbem-11066	34	19	and	and	CCONJ
fbem-11066	34	20	overall	overall	ADJ
fbem-11066	34	21	economic	economic	ADJ
fbem-11066	34	22	output	output	NOUN
fbem-11066	34	23	.	.	PUNCT
fbem-11066	35	1	qualitative	qualitative	ADJ
fbem-11066	35	2	analysis	analysis	NOUN
fbem-11066	35	3	allows	allow	VERB
fbem-11066	35	4	for	for	ADP
fbem-11066	35	5	a	a	DET
fbem-11066	35	6	detailed	detailed	ADJ
fbem-11066	35	7	study	study	NOUN
fbem-11066	35	8	of	of	ADP
fbem-11066	35	9	fintech	fintech	NOUN
fbem-11066	35	10	trends	trend	NOUN
fbem-11066	35	11	,	,	PUNCT
fbem-11066	35	12	policy	policy	NOUN
fbem-11066	35	13	environment	environment	NOUN
fbem-11066	35	14	,	,	PUNCT
fbem-11066	35	15	and	and	CCONJ
fbem-11066	35	16	market	market	NOUN
fbem-11066	35	17	dynamics	dynamic	NOUN
fbem-11066	35	18	,	,	PUNCT
fbem-11066	35	19	while	while	SCONJ
fbem-11066	35	20	331	331	NUM
fbem-11066	35	21	quantitative	quantitative	ADJ
fbem-11066	35	22	analysis	analysis	NOUN
fbem-11066	35	23	improves	improve	VERB
fbem-11066	35	24	the	the	DET
fbem-11066	35	25	study	study	NOUN
fbem-11066	35	26	's	's	PART
fbem-11066	35	27	scientific	scientific	ADJ
fbem-11066	35	28	validity	validity	NOUN
fbem-11066	35	29	and	and	CCONJ
fbem-11066	35	30	reliability	reliability	NOUN
fbem-11066	35	31	through	through	ADP
fbem-11066	35	32	data	datum	NOUN
fbem-11066	35	33	and	and	CCONJ
fbem-11066	35	34	econometric	econometric	ADJ
fbem-11066	35	35	analysis	analysis	NOUN
fbem-11066	35	36	.	.	PUNCT
fbem-11066	36	1	3.2	3.2	NUM
fbem-11066	36	2	.	.	PUNCT
fbem-11066	36	3	intrinsic	intrinsic	ADJ
fbem-11066	36	4	principles	principle	NOUN
fbem-11066	36	5	1	1	NUM
fbem-11066	36	6	)	)	PUNCT
fbem-11066	36	7	the	the	DET
fbem-11066	36	8	mechanism	mechanism	NOUN
fbem-11066	36	9	of	of	ADP
fbem-11066	36	10	fintech	fintech	NOUN
fbem-11066	36	11	's	's	PART
fbem-11066	36	12	effect	effect	NOUN
fbem-11066	36	13	on	on	ADP
fbem-11066	36	14	economic	economic	ADJ
fbem-11066	36	15	growth	growth	NOUN
fbem-11066	36	16	fintech	fintech	NOUN
fbem-11066	36	17	expands	expand	VERB
fbem-11066	36	18	financial	financial	ADJ
fbem-11066	36	19	development	development	NOUN
fbem-11066	36	20	,	,	PUNCT
fbem-11066	36	21	improving	improve	VERB
fbem-11066	36	22	its	its	PRON
fbem-11066	36	23	efficiency	efficiency	NOUN
fbem-11066	36	24	and	and	CCONJ
fbem-11066	36	25	enhancing	enhance	VERB
fbem-11066	36	26	capital	capital	NOUN
fbem-11066	36	27	's	's	PART
fbem-11066	36	28	marginal	marginal	ADJ
fbem-11066	36	29	productivity	productivity	NOUN
fbem-11066	36	30	.	.	PUNCT
fbem-11066	37	1	it	it	PRON
fbem-11066	37	2	bolsters	bolster	VERB
fbem-11066	37	3	economic	economic	ADJ
fbem-11066	37	4	growth	growth	NOUN
fbem-11066	37	5	quality	quality	NOUN
fbem-11066	37	6	through	through	ADP
fbem-11066	37	7	increased	increase	VERB
fbem-11066	37	8	capital	capital	NOUN
fbem-11066	37	9	liquidity	liquidity	NOUN
fbem-11066	37	10	,	,	PUNCT
fbem-11066	37	11	investment	investment	NOUN
fbem-11066	37	12	enthusiasm	enthusiasm	NOUN
fbem-11066	37	13	,	,	PUNCT
fbem-11066	37	14	and	and	CCONJ
fbem-11066	37	15	through	through	ADP
fbem-11066	37	16	asset	asset	NOUN
fbem-11066	37	17	portfolio	portfolio	NOUN
fbem-11066	37	18	management	management	NOUN
fbem-11066	37	19	that	that	PRON
fbem-11066	37	20	raises	raise	VERB
fbem-11066	37	21	investment	investment	NOUN
fbem-11066	37	22	returns	return	NOUN
fbem-11066	37	23	,	,	PUNCT
fbem-11066	37	24	mitigates	mitigate	VERB
fbem-11066	37	25	liquidity	liquidity	NOUN
fbem-11066	37	26	risks	risk	NOUN
fbem-11066	37	27	,	,	PUNCT
fbem-11066	37	28	and	and	CCONJ
fbem-11066	37	29	promotes	promote	VERB
fbem-11066	37	30	investment	investment	NOUN
fbem-11066	37	31	specialization	specialization	NOUN
fbem-11066	37	32	.	.	PUNCT
fbem-11066	38	1	2	2	X
fbem-11066	38	2	)	)	PUNCT
fbem-11066	38	3	the	the	DET
fbem-11066	38	4	mechanism	mechanism	NOUN
fbem-11066	38	5	of	of	ADP
fbem-11066	38	6	fintech	fintech	NOUN
fbem-11066	38	7	's	's	PART
fbem-11066	38	8	effect	effect	NOUN
fbem-11066	38	9	on	on	ADP
fbem-11066	38	10	the	the	DET
fbem-11066	38	11	interest	interest	NOUN
fbem-11066	38	12	rate	rate	NOUN
fbem-11066	38	13	market	market	NOUN
fbem-11066	38	14	fintech	fintech	NOUN
fbem-11066	38	15	aids	aid	NOUN
fbem-11066	38	16	in	in	ADP
fbem-11066	38	17	achieving	achieve	VERB
fbem-11066	38	18	balanced	balanced	ADJ
fbem-11066	38	19	interest	interest	NOUN
fbem-11066	38	20	rates	rate	NOUN
fbem-11066	38	21	within	within	ADP
fbem-11066	38	22	a	a	DET
fbem-11066	38	23	fair	fair	ADJ
fbem-11066	38	24	,	,	PUNCT
fbem-11066	38	25	reasonable	reasonable	ADJ
fbem-11066	38	26	,	,	PUNCT
fbem-11066	38	27	and	and	CCONJ
fbem-11066	38	28	transparent	transparent	ADJ
fbem-11066	38	29	market	market	NOUN
fbem-11066	38	30	framework	framework	NOUN
fbem-11066	38	31	,	,	PUNCT
fbem-11066	38	32	impacting	impact	VERB
fbem-11066	38	33	investment	investment	NOUN
fbem-11066	38	34	and	and	CCONJ
fbem-11066	38	35	savings	saving	NOUN
fbem-11066	38	36	,	,	PUNCT
fbem-11066	38	37	which	which	PRON
fbem-11066	38	38	are	be	AUX
fbem-11066	38	39	economic	economic	ADJ
fbem-11066	38	40	growth	growth	NOUN
fbem-11066	38	41	drivers	driver	NOUN
fbem-11066	38	42	.	.	PUNCT
fbem-11066	39	1	3	3	X
fbem-11066	39	2	)	)	PUNCT
fbem-11066	39	3	the	the	DET
fbem-11066	39	4	mechanism	mechanism	NOUN
fbem-11066	39	5	of	of	ADP
fbem-11066	39	6	fintech	fintech	NOUN
fbem-11066	39	7	's	's	PART
fbem-11066	39	8	impact	impact	NOUN
fbem-11066	39	9	on	on	ADP
fbem-11066	39	10	the	the	DET
fbem-11066	39	11	consumer	consumer	NOUN
fbem-11066	39	12	market	market	NOUN
fbem-11066	39	13	fintech	fintech	NOUN
fbem-11066	39	14	provides	provide	VERB
fbem-11066	39	15	technical	technical	ADJ
fbem-11066	39	16	basis	basis	NOUN
fbem-11066	39	17	for	for	SCONJ
fbem-11066	39	18	banks	bank	NOUN
fbem-11066	39	19	to	to	PART
fbem-11066	39	20	manage	manage	VERB
fbem-11066	39	21	long	long	ADJ
fbem-11066	39	22	tail	tail	NOUN
fbem-11066	39	23	customer	customer	NOUN
fbem-11066	39	24	groups	group	NOUN
fbem-11066	39	25	.	.	PUNCT
fbem-11066	40	1	with	with	ADP
fbem-11066	40	2	its	its	PRON
fbem-11066	40	3	rapid	rapid	ADJ
fbem-11066	40	4	development	development	NOUN
fbem-11066	40	5	,	,	PUNCT
fbem-11066	40	6	financial	financial	ADJ
fbem-11066	40	7	services	service	NOUN
fbem-11066	40	8	are	be	AUX
fbem-11066	40	9	no	no	ADV
fbem-11066	40	10	longer	long	ADV
fbem-11066	40	11	limited	limit	VERB
fbem-11066	40	12	by	by	ADP
fbem-11066	40	13	time	time	NOUN
fbem-11066	40	14	and	and	CCONJ
fbem-11066	40	15	space	space	NOUN
fbem-11066	40	16	,	,	PUNCT
fbem-11066	40	17	extending	extend	VERB
fbem-11066	40	18	their	their	PRON
fbem-11066	40	19	reach	reach	NOUN
fbem-11066	40	20	,	,	PUNCT
fbem-11066	40	21	reducing	reduce	VERB
fbem-11066	40	22	operational	operational	ADJ
fbem-11066	40	23	costs	cost	NOUN
fbem-11066	40	24	,	,	PUNCT
fbem-11066	40	25	and	and	CCONJ
fbem-11066	40	26	enhancing	enhance	VERB
fbem-11066	40	27	customer	customer	NOUN
fbem-11066	40	28	relationship	relationship	NOUN
fbem-11066	40	29	management	management	NOUN
fbem-11066	40	30	efficiency	efficiency	NOUN
fbem-11066	40	31	.	.	PUNCT
fbem-11066	41	1	4	4	X
fbem-11066	41	2	)	)	PUNCT
fbem-11066	41	3	the	the	DET
fbem-11066	41	4	mechanism	mechanism	NOUN
fbem-11066	41	5	of	of	ADP
fbem-11066	41	6	fintech	fintech	NOUN
fbem-11066	41	7	's	's	PART
fbem-11066	41	8	impact	impact	NOUN
fbem-11066	41	9	on	on	ADP
fbem-11066	41	10	the	the	DET
fbem-11066	41	11	investment	investment	NOUN
fbem-11066	41	12	market	market	NOUN
fbem-11066	41	13	fintech	fintech	NOUN
fbem-11066	41	14	's	's	PART
fbem-11066	41	15	advantages	advantage	NOUN
fbem-11066	41	16	include	include	VERB
fbem-11066	41	17	swift	swift	ADJ
fbem-11066	41	18	information	information	NOUN
fbem-11066	41	19	processing	processing	NOUN
fbem-11066	41	20	,	,	PUNCT
fbem-11066	41	21	simplified	simplified	ADJ
fbem-11066	41	22	methods	method	NOUN
fbem-11066	41	23	,	,	PUNCT
fbem-11066	41	24	and	and	CCONJ
fbem-11066	41	25	low	low	ADJ
fbem-11066	41	26	costs	cost	NOUN
fbem-11066	41	27	.	.	PUNCT
fbem-11066	42	1	it	it	PRON
fbem-11066	42	2	introduces	introduce	VERB
fbem-11066	42	3	new	new	ADJ
fbem-11066	42	4	financial	financial	ADJ
fbem-11066	42	5	products	product	NOUN
fbem-11066	42	6	,	,	PUNCT
fbem-11066	42	7	enriching	enrich	VERB
fbem-11066	42	8	individual	individual	ADJ
fbem-11066	42	9	investment	investment	NOUN
fbem-11066	42	10	choices	choice	NOUN
fbem-11066	42	11	.	.	PUNCT
fbem-11066	43	1	also	also	ADV
fbem-11066	43	2	,	,	PUNCT
fbem-11066	43	3	it	it	PRON
fbem-11066	43	4	provides	provide	VERB
fbem-11066	43	5	diverse	diverse	ADJ
fbem-11066	43	6	financing	financing	NOUN
fbem-11066	43	7	methods	method	NOUN
fbem-11066	43	8	for	for	ADP
fbem-11066	43	9	small	small	ADJ
fbem-11066	43	10	and	and	CCONJ
fbem-11066	43	11	mediumsized	mediumsized	ADJ
fbem-11066	43	12	enterprises	enterprise	NOUN
fbem-11066	43	13	,	,	PUNCT
fbem-11066	43	14	such	such	ADJ
fbem-11066	43	15	as	as	ADP
fbem-11066	43	16	internet	internet	NOUN
fbem-11066	43	17	p2p	p2p	NOUN
fbem-11066	43	18	loans	loan	NOUN
fbem-11066	43	19	,	,	PUNCT
fbem-11066	43	20	crowdfunding	crowdfunding	NOUN
fbem-11066	43	21	,	,	PUNCT
fbem-11066	43	22	and	and	CCONJ
fbem-11066	43	23	supply	supply	NOUN
fbem-11066	43	24	chain	chain	NOUN
fbem-11066	43	25	finance	finance	NOUN
fbem-11066	43	26	,	,	PUNCT
fbem-11066	43	27	improving	improve	VERB
fbem-11066	43	28	financing	financing	NOUN
fbem-11066	43	29	efficiency	efficiency	NOUN
fbem-11066	43	30	and	and	CCONJ
fbem-11066	43	31	promoting	promote	VERB
fbem-11066	43	32	physical	physical	ADJ
fbem-11066	43	33	project	project	NOUN
fbem-11066	43	34	investments	investment	NOUN
fbem-11066	43	35	.	.	PUNCT
fbem-11066	44	1	3.3	3.3	NUM
fbem-11066	44	2	.	.	PUNCT
fbem-11066	45	1	conceptual	conceptual	ADJ
fbem-11066	45	2	framework	framework	NOUN
fbem-11066	45	3	figure	figure	NOUN
fbem-11066	45	4	1	1	NUM
fbem-11066	45	5	.	.	PUNCT
fbem-11066	45	6	conceptual	conceptual	ADJ
fbem-11066	45	7	framework	framework	NOUN
fbem-11066	45	8	3.4	3.4	NUM
fbem-11066	45	9	.	.	PUNCT
fbem-11066	46	1	index	index	NOUN
fbem-11066	46	2	calculation	calculation	NOUN
fbem-11066	46	3	3.4.1	3.4.1	NUM
fbem-11066	46	4	.	.	PUNCT
fbem-11066	47	1	introduction	introduction	NOUN
fbem-11066	47	2	various	various	ADJ
fbem-11066	47	3	regulators	regulator	NOUN
fbem-11066	47	4	,	,	PUNCT
fbem-11066	47	5	including	include	VERB
fbem-11066	47	6	fca	fca	PROPN
fbem-11066	47	7	,	,	PUNCT
fbem-11066	47	8	pboc	pboc	NOUN
fbem-11066	47	9	,	,	PUNCT
fbem-11066	47	10	fsoc	fsoc	NOUN
fbem-11066	47	11	,	,	PUNCT
fbem-11066	47	12	finma	finma	ADJ
fbem-11066	47	13	,	,	PUNCT
fbem-11066	47	14	asic	asic	NOUN
fbem-11066	47	15	,	,	PUNCT
fbem-11066	47	16	and	and	CCONJ
fbem-11066	47	17	fsa	fsa	PROPN
fbem-11066	47	18	use	use	VERB
fbem-11066	47	19	unique	unique	ADJ
fbem-11066	47	20	approaches	approach	NOUN
fbem-11066	47	21	to	to	PART
fbem-11066	47	22	calculate	calculate	VERB
fbem-11066	47	23	the	the	DET
fbem-11066	47	24	fintech	fintech	NOUN
fbem-11066	47	25	index	index	NOUN
fbem-11066	47	26	.	.	PUNCT
fbem-11066	48	1	absence	absence	NOUN
fbem-11066	48	2	of	of	ADP
fbem-11066	48	3	unified	unified	ADJ
fbem-11066	48	4	standards	standard	NOUN
fbem-11066	48	5	adds	add	VERB
fbem-11066	48	6	complexity	complexity	NOUN
fbem-11066	48	7	to	to	ADP
fbem-11066	48	8	cross	cross	ADJ
fbem-11066	48	9	-	-	ADJ
fbem-11066	48	10	border	border	ADJ
fbem-11066	48	11	comparisons	comparison	NOUN
fbem-11066	48	12	and	and	CCONJ
fbem-11066	48	13	comprehensive	comprehensive	ADJ
fbem-11066	48	14	analyses	analysis	NOUN
fbem-11066	48	15	.	.	PUNCT
fbem-11066	49	1	machine	machine	NOUN
fbem-11066	49	2	learning	learn	VERB
fbem-11066	49	3	algorithms	algorithm	NOUN
fbem-11066	49	4	like	like	ADP
fbem-11066	49	5	random	random	ADJ
fbem-11066	49	6	forest	forest	NOUN
fbem-11066	49	7	and	and	CCONJ
fbem-11066	49	8	gradient	gradient	NOUN
fbem-11066	49	9	lifting	lift	VERB
fbem-11066	49	10	tree	tree	NOUN
fbem-11066	49	11	suffer	suffer	VERB
fbem-11066	49	12	from	from	ADP
fbem-11066	49	13	randomness	randomness	NOUN
fbem-11066	49	14	and	and	CCONJ
fbem-11066	49	15	inexplicability	inexplicability	NOUN
fbem-11066	49	16	,	,	PUNCT
fbem-11066	49	17	leading	lead	VERB
fbem-11066	49	18	us	we	PRON
fbem-11066	49	19	to	to	PART
fbem-11066	49	20	prefer	prefer	VERB
fbem-11066	49	21	the	the	DET
fbem-11066	49	22	entropy	entropy	NOUN
fbem-11066	49	23	method	method	NOUN
fbem-11066	49	24	for	for	ADP
fbem-11066	49	25	the	the	DET
fbem-11066	49	26	singapore	singapore	PROPN
fbem-11066	49	27	fintech	fintech	PROPN
fbem-11066	49	28	index	index	NOUN
fbem-11066	49	29	.	.	PUNCT
fbem-11066	50	1	this	this	DET
fbem-11066	50	2	method	method	NOUN
fbem-11066	50	3	,	,	PUNCT
fbem-11066	50	4	offering	offer	VERB
fbem-11066	50	5	comprehensive	comprehensive	ADJ
fbem-11066	50	6	,	,	PUNCT
fbem-11066	50	7	objective	objective	ADJ
fbem-11066	50	8	results	result	NOUN
fbem-11066	50	9	and	and	CCONJ
fbem-11066	50	10	high	high	ADJ
fbem-11066	50	11	flexibility	flexibility	NOUN
fbem-11066	50	12	,	,	PUNCT
fbem-11066	50	13	adapts	adapt	VERB
fbem-11066	50	14	to	to	ADP
fbem-11066	50	15	different	different	ADJ
fbem-11066	50	16	scenarios	scenario	NOUN
fbem-11066	50	17	and	and	CCONJ
fbem-11066	50	18	ensures	ensure	VERB
fbem-11066	50	19	comparability	comparability	NOUN
fbem-11066	50	20	across	across	ADP
fbem-11066	50	21	different	different	ADJ
fbem-11066	50	22	regions	region	NOUN
fbem-11066	50	23	or	or	CCONJ
fbem-11066	50	24	timeframes	timeframe	NOUN
fbem-11066	50	25	.	.	PUNCT
fbem-11066	51	1	table	table	NOUN
fbem-11066	51	2	1	1	NUM
fbem-11066	51	3	.	.	PUNCT
fbem-11066	51	4	variable	variable	ADJ
fbem-11066	51	5	statement	statement	NOUN
fbem-11066	51	6	number	number	NOUN
fbem-11066	51	7	general	general	ADJ
fbem-11066	51	8	indicators	indicator	NOUN
fbem-11066	51	9	effect	effect	VERB
fbem-11066	51	10	specific	specific	ADJ
fbem-11066	51	11	indicators	indicator	NOUN
fbem-11066	51	12	variable	variable	ADJ
fbem-11066	51	13	code	code	NOUN
fbem-11066	51	14	unit	unit	NOUN
fbem-11066	51	15	1	1	NUM
fbem-11066	51	16	fintech	fintech	NOUN
fbem-11066	51	17	micro	micro	NOUN
fbem-11066	51	18	indicators	indicator	NOUN
fbem-11066	51	19	positive	positive	ADJ
fbem-11066	51	20	number	number	NOUN
fbem-11066	51	21	of	of	ADP
fbem-11066	51	22	newly	newly	ADV
fbem-11066	51	23	listed	list	VERB
fbem-11066	51	24	fintech	fintech	NOUN
fbem-11066	51	25	institutions	institution	NOUN
fbem-11066	51	26	nnlfi	nnlfi	PROPN
fbem-11066	51	27	q1	q1	PROPN
fbem-11066	51	28	count	count	VERB
fbem-11066	51	29	2	2	NUM
fbem-11066	51	30	positive	positive	ADJ
fbem-11066	51	31	number	number	NOUN
fbem-11066	51	32	of	of	ADP
fbem-11066	51	33	financial	financial	ADJ
fbem-11066	51	34	and	and	CCONJ
fbem-11066	51	35	insurance	insurance	NOUN
fbem-11066	51	36	services	service	NOUN
fbem-11066	51	37	talents	talent	NOUN
fbem-11066	51	38	fis	fis	PROPN
fbem-11066	51	39	q2	q2	PROPN
fbem-11066	51	40	count	count	VERB
fbem-11066	51	41	3	3	NUM
fbem-11066	51	42	positive	positive	ADJ
fbem-11066	51	43	number	number	NOUN
fbem-11066	51	44	of	of	ADP
fbem-11066	51	45	fintech	fintech	NOUN
fbem-11066	51	46	users	user	NOUN
fbem-11066	51	47	nfu	nfu	PROPN
fbem-11066	51	48	q3	q3	PROPN
fbem-11066	51	49	count	count	VERB
fbem-11066	51	50	4	4	NUM
fbem-11066	51	51	positive	positive	ADJ
fbem-11066	51	52	number	number	NOUN
fbem-11066	51	53	of	of	ADP
fbem-11066	51	54	patents	patent	NOUN
fbem-11066	51	55	applied	apply	VERB
fbem-11066	51	56	pap	pap	X
fbem-11066	51	57	q4	q4	PROPN
fbem-11066	51	58	count	count	VERB
fbem-11066	51	59	5	5	NUM
fbem-11066	51	60	positive	positive	ADJ
fbem-11066	51	61	number	number	NOUN
fbem-11066	51	62	of	of	ADP
fbem-11066	51	63	patents	patent	NOUN
fbem-11066	51	64	awarded	award	VERB
fbem-11066	51	65	paw	paw	PROPN
fbem-11066	51	66	q5	q5	PROPN
fbem-11066	51	67	count	count	VERB
fbem-11066	51	68	6	6	NUM
fbem-11066	51	69	positive	positive	ADJ
fbem-11066	51	70	number	number	NOUN
fbem-11066	51	71	of	of	ADP
fbem-11066	51	72	financial	financial	ADJ
fbem-11066	51	73	institutions	institution	NOUN
fbem-11066	51	74	nfi	nfi	PROPN
fbem-11066	51	75	q6	q6	PROPN
fbem-11066	51	76	count	count	VERB
fbem-11066	51	77	7	7	NUM
fbem-11066	51	78	fintech	fintech	NOUN
fbem-11066	51	79	macro	macro	NOUN
fbem-11066	51	80	indicators	indicator	NOUN
fbem-11066	51	81	positive	positive	ADJ
fbem-11066	51	82	singapore	singapore	NOUN
fbem-11066	51	83	's	's	PART
fbem-11066	51	84	inward	inward	ADV
fbem-11066	51	85	direct	direct	ADJ
fbem-11066	51	86	investment	investment	NOUN
fbem-11066	51	87	flows	flow	NOUN
fbem-11066	51	88	by	by	ADP
fbem-11066	51	89	finance	finance	NOUN
fbem-11066	51	90	industry	industry	NOUN
fbem-11066	51	91	sidiffi	sidiffi	PROPN
fbem-11066	51	92	q7	q7	PROPN
fbem-11066	51	93	millions	million	NOUN
fbem-11066	51	94	of	of	ADP
fbem-11066	51	95	singapore	singapore	PROPN
fbem-11066	51	96	dollars	dollar	NOUN
fbem-11066	51	97	8	8	NUM
fbem-11066	51	98	positive	positive	ADJ
fbem-11066	51	99	turnover	turnover	NOUN
fbem-11066	51	100	on	on	ADP
fbem-11066	51	101	the	the	DET
fbem-11066	51	102	singapore	singapore	PROPN
fbem-11066	51	103	exchange	exchange	PROPN
fbem-11066	51	104	(	(	PUNCT
fbem-11066	51	105	equities	equity	NOUN
fbem-11066	51	106	)	)	PUNCT
fbem-11066	51	107	finance	finance	NOUN
fbem-11066	51	108	(	(	PUNCT
fbem-11066	51	109	value	value	NOUN
fbem-11066	51	110	)	)	PUNCT
fbem-11066	51	111	tse	tse	PROPN
fbem-11066	51	112	-	-	PUNCT
fbem-11066	51	113	f	f	PROPN
fbem-11066	51	114	q8	q8	PROPN
fbem-11066	51	115	million	million	NUM
fbem-11066	51	116	dollars	dollar	NOUN
fbem-11066	51	117	9	9	NUM
fbem-11066	51	118	positive	positive	ADJ
fbem-11066	51	119	r&d	r&d	NOUN
fbem-11066	51	120	expenditure	expenditure	NOUN
fbem-11066	51	121	rde	rde	PROPN
fbem-11066	51	122	q9	q9	PROPN
fbem-11066	51	123	million	million	NUM
fbem-11066	51	124	dollars	dollar	NOUN
fbem-11066	51	125	10	10	NUM
fbem-11066	51	126	external	external	ADJ
fbem-11066	51	127	evaluation	evaluation	NOUN
fbem-11066	51	128	indicators	indicator	NOUN
fbem-11066	51	129	negative	negative	ADJ
fbem-11066	51	130	annual	annual	ADJ
fbem-11066	51	131	ranking	ranking	NOUN
fbem-11066	51	132	of	of	ADP
fbem-11066	51	133	singapore	singapore	PROPN
fbem-11066	51	134	in	in	ADP
fbem-11066	51	135	gfci	gfci	PROPN
fbem-11066	51	136	ars	ars	PROPN
fbem-11066	51	137	-	-	PUNCT
fbem-11066	51	138	gfci	gfci	NOUN
fbem-11066	51	139	q10	q10	PROPN
fbem-11066	51	140	rank	rank	PROPN
fbem-11066	51	141	data	data	PROPN
fbem-11066	51	142	sources	source	NOUN
fbem-11066	51	143	include	include	VERB
fbem-11066	51	144	monetary	monetary	ADJ
fbem-11066	51	145	authority	authority	NOUN
fbem-11066	51	146	of	of	ADP
fbem-11066	51	147	singapore	singapore	PROPN
fbem-11066	51	148	,	,	PUNCT
fbem-11066	51	149	ministry	ministry	PROPN
fbem-11066	51	150	of	of	ADP
fbem-11066	51	151	manpower	manpower	PROPN
fbem-11066	51	152	,	,	PUNCT
fbem-11066	51	153	agency	agency	NOUN
fbem-11066	51	154	for	for	ADP
fbem-11066	51	155	science	science	NOUN
fbem-11066	51	156	,	,	PUNCT
fbem-11066	51	157	technology	technology	NOUN
fbem-11066	51	158	and	and	CCONJ
fbem-11066	51	159	research	research	NOUN
fbem-11066	51	160	,	,	PUNCT
fbem-11066	51	161	and	and	CCONJ
fbem-11066	51	162	singapore	singapore	PROPN
fbem-11066	51	163	department	department	PROPN
fbem-11066	51	164	of	of	ADP
fbem-11066	51	165	statistics	statistic	NOUN
fbem-11066	51	166	.	.	PUNCT
fbem-11066	52	1	the	the	DET
fbem-11066	52	2	fintech	fintech	NOUN
fbem-11066	52	3	development	development	NOUN
fbem-11066	52	4	measurement	measurement	NOUN
fbem-11066	52	5	considers	consider	VERB
fbem-11066	52	6	three	three	NUM
fbem-11066	52	7	332	332	NUM
fbem-11066	52	8	dimensions	dimension	NOUN
fbem-11066	52	9	:	:	PUNCT
fbem-11066	52	10	micro	micro	NOUN
fbem-11066	52	11	,	,	PUNCT
fbem-11066	52	12	macro	macro	ADJ
fbem-11066	52	13	,	,	PUNCT
fbem-11066	52	14	and	and	CCONJ
fbem-11066	52	15	external	external	ADJ
fbem-11066	52	16	evaluations	evaluation	NOUN
fbem-11066	52	17	with	with	ADP
fbem-11066	52	18	several	several	ADJ
fbem-11066	52	19	indicators	indicator	NOUN
fbem-11066	52	20	.	.	PUNCT
fbem-11066	53	1	we	we	PRON
fbem-11066	53	2	use	use	VERB
fbem-11066	53	3	the	the	DET
fbem-11066	53	4	global	global	ADJ
fbem-11066	53	5	financial	financial	ADJ
fbem-11066	53	6	centres	centre	NOUN
fbem-11066	53	7	index	index	NOUN
fbem-11066	53	8	(	(	PUNCT
fbem-11066	53	9	gfci	gfci	NOUN
fbem-11066	53	10	)	)	PUNCT
fbem-11066	53	11	for	for	ADP
fbem-11066	53	12	the	the	DET
fbem-11066	53	13	external	external	ADJ
fbem-11066	53	14	evaluation	evaluation	NOUN
fbem-11066	53	15	,	,	PUNCT
fbem-11066	53	16	offering	offer	VERB
fbem-11066	53	17	a	a	DET
fbem-11066	53	18	relative	relative	ADJ
fbem-11066	53	19	comparison	comparison	NOUN
fbem-11066	53	20	and	and	CCONJ
fbem-11066	53	21	trend	trend	NOUN
fbem-11066	53	22	analysis	analysis	NOUN
fbem-11066	53	23	of	of	ADP
fbem-11066	53	24	global	global	ADJ
fbem-11066	53	25	financial	financial	ADJ
fbem-11066	53	26	centers	center	NOUN
fbem-11066	53	27	.	.	PUNCT
fbem-11066	54	1	3.4.2	3.4.2	X
fbem-11066	54	2	.	.	PUNCT
fbem-11066	54	3	data	datum	NOUN
fbem-11066	54	4	collection	collection	PROPN
fbem-11066	54	5	indicator	indicator	PROPN
fbem-11066	54	6	data	data	PROPN
fbem-11066	54	7	,	,	PUNCT
fbem-11066	54	8	ranging	range	VERB
fbem-11066	54	9	from	from	ADP
fbem-11066	54	10	2010	2010	NUM
fbem-11066	54	11	-	-	SYM
fbem-11066	54	12	2022	2022	NUM
fbem-11066	54	13	,	,	PUNCT
fbem-11066	54	14	are	be	AUX
fbem-11066	54	15	selected	select	VERB
fbem-11066	54	16	from	from	ADP
fbem-11066	54	17	the	the	DET
fbem-11066	54	18	singapore	singapore	PROPN
fbem-11066	54	19	region	region	NOUN
fbem-11066	54	20	,	,	PUNCT
fbem-11066	54	21	and	and	CCONJ
fbem-11066	54	22	are	be	AUX
fbem-11066	54	23	mainly	mainly	ADV
fbem-11066	54	24	sourced	source	VERB
fbem-11066	54	25	from	from	ADP
fbem-11066	54	26	reliable	reliable	ADJ
fbem-11066	54	27	institutions	institution	NOUN
fbem-11066	54	28	like	like	ADP
fbem-11066	54	29	the	the	DET
fbem-11066	54	30	singapore	singapore	PROPN
fbem-11066	54	31	department	department	PROPN
fbem-11066	54	32	of	of	ADP
fbem-11066	54	33	statistics	statistic	NOUN
fbem-11066	54	34	,	,	PUNCT
fbem-11066	54	35	monetary	monetary	ADJ
fbem-11066	54	36	authority	authority	NOUN
fbem-11066	54	37	of	of	ADP
fbem-11066	54	38	singapore	singapore	PROPN
fbem-11066	54	39	,	,	PUNCT
fbem-11066	54	40	ministry	ministry	PROPN
fbem-11066	54	41	of	of	ADP
fbem-11066	54	42	manpower	manpower	PROPN
fbem-11066	54	43	of	of	ADP
fbem-11066	54	44	singapore	singapore	PROPN
fbem-11066	54	45	,	,	PUNCT
fbem-11066	54	46	and	and	CCONJ
fbem-11066	54	47	science	science	NOUN
fbem-11066	54	48	,	,	PUNCT
fbem-11066	54	49	technology	technology	NOUN
fbem-11066	54	50	and	and	CCONJ
fbem-11066	54	51	research	research	NOUN
fbem-11066	54	52	bureau	bureau	PROPN
fbem-11066	54	53	of	of	ADP
fbem-11066	54	54	singapore	singapore	PROPN
fbem-11066	54	55	.	.	PUNCT
fbem-11066	55	1	3.4.3	3.4.3	X
fbem-11066	55	2	.	.	PUNCT
fbem-11066	56	1	data	datum	NOUN
fbem-11066	56	2	cleaning	clean	VERB
fbem-11066	56	3	to	to	PART
fbem-11066	56	4	ensure	ensure	VERB
fbem-11066	56	5	the	the	DET
fbem-11066	56	6	model	model	NOUN
fbem-11066	56	7	's	's	PART
fbem-11066	56	8	stability	stability	NOUN
fbem-11066	56	9	and	and	CCONJ
fbem-11066	56	10	reliability	reliability	NOUN
fbem-11066	56	11	,	,	PUNCT
fbem-11066	56	12	the	the	DET
fbem-11066	56	13	collected	collect	VERB
fbem-11066	56	14	data	datum	NOUN
fbem-11066	56	15	undergo	undergo	VERB
fbem-11066	56	16	standardization	standardization	NOUN
fbem-11066	56	17	,	,	PUNCT
fbem-11066	56	18	converting	convert	VERB
fbem-11066	56	19	different	different	ADJ
fbem-11066	56	20	indicator	indicator	NOUN
fbem-11066	56	21	values	value	NOUN
fbem-11066	56	22	into	into	ADP
fbem-11066	56	23	z	z	NOUN
fbem-11066	56	24	-	-	PUNCT
fbem-11066	56	25	scores	score	NOUN
fbem-11066	56	26	or	or	CCONJ
fbem-11066	56	27	mapping	map	VERB
fbem-11066	56	28	them	they	PRON
fbem-11066	56	29	within	within	ADP
fbem-11066	56	30	the	the	DET
fbem-11066	56	31	range	range	NOUN
fbem-11066	56	32	of	of	ADP
fbem-11066	56	33	0	0	NUM
fbem-11066	56	34	to	to	PART
fbem-11066	56	35	1	1	NUM
fbem-11066	56	36	,	,	PUNCT
fbem-11066	56	37	facilitating	facilitate	VERB
fbem-11066	56	38	cross	cross	ADJ
fbem-11066	56	39	-	-	ADJ
fbem-11066	56	40	indicator	indicator	ADJ
fbem-11066	56	41	comparison	comparison	NOUN
fbem-11066	56	42	and	and	CCONJ
fbem-11066	56	43	analysis	analysis	NOUN
fbem-11066	56	44	.	.	PUNCT
fbem-11066	57	1	the	the	DET
fbem-11066	57	2	min	min	PROPN
fbem-11066	57	3	-	-	PUNCT
fbem-11066	57	4	max	max	PROPN
fbem-11066	57	5	normalization	normalization	NOUN
fbem-11066	57	6	method	method	NOUN
fbem-11066	57	7	is	be	AUX
fbem-11066	57	8	utilized	utilize	VERB
fbem-11066	57	9	in	in	ADP
fbem-11066	57	10	this	this	DET
fbem-11066	57	11	study	study	NOUN
fbem-11066	57	12	.	.	PUNCT
fbem-11066	58	1	positive	positive	ADJ
fbem-11066	58	2	indicators	indicator	NOUN
fbem-11066	58	3	:	:	PUNCT
fbem-11066	58	4	𝑥	𝑥	X
fbem-11066	58	5	,	,	PUNCT
fbem-11066	58	6	...	...	PUNCT
fbem-11066	58	7	,	,	PUNCT
fbem-11066	58	8	,	,	PUNCT
fbem-11066	58	9	...	...	PUNCT
fbem-11066	58	10	,	,	PUNCT
fbem-11066	58	11	...	...	PUNCT
fbem-11066	58	12	,	,	PUNCT
fbem-11066	58	13	negative	negative	ADJ
fbem-11066	58	14	indicator	indicator	NOUN
fbem-11066	58	15	:	:	PUNCT
fbem-11066	58	16	x′ij	x′ij	PROPN
fbem-11066	58	17	max	max	PROPN
fbem-11066	58	18	x1j,	x1j,	PROPN
fbem-11066	58	19	...	...	PUNCT
fbem-11066	58	20	,xnj	,xnj	PUNCT
fbem-11066	58	21	xij	xij	PROPN
fbem-11066	58	22	max	max	PROPN
fbem-11066	58	23	x1j,	x1j,	PROPN
fbem-11066	58	24	...	...	PUNCT
fbem-11066	58	25	,xnj	,xnj	PUNCT
fbem-11066	58	26	min	min	PROPN
fbem-11066	58	27	x1j,	x1j,	PROPN
fbem-11066	58	28	...	...	PUNCT
fbem-11066	58	29	,xnj	,xnj	PUNCT
fbem-11066	58	30	3.4.4	3.4.4	X
fbem-11066	58	31	.	.	PUNCT
fbem-11066	59	1	establishing	establish	VERB
fbem-11066	59	2	model	model	NOUN
fbem-11066	59	3	step	step	NOUN
fbem-11066	59	4	1	1	NUM
fbem-11066	59	5	,	,	PUNCT
fbem-11066	59	6	calculating	calculate	VERB
fbem-11066	59	7	the	the	DET
fbem-11066	59	8	proportion	proportion	NOUN
fbem-11066	59	9	of	of	ADP
fbem-11066	59	10	the	the	DET
fbem-11066	59	11	i	i	PROPN
fbem-11066	59	12	-	-	PUNCT
fbem-11066	59	13	th	th	X
fbem-11066	59	14	sample	sample	NOUN
fbem-11066	59	15	value	value	NOUN
fbem-11066	59	16	to	to	ADP
fbem-11066	59	17	the	the	DET
fbem-11066	59	18	j	j	PROPN
fbem-11066	59	19	-	-	PUNCT
fbem-11066	59	20	th	th	PROPN
fbem-11066	59	21	indicator	indicator	NOUN
fbem-11066	59	22	:	:	PUNCT
fbem-11066	59	23	pij	pij	VERB
fbem-11066	59	24	xij	xij	PROPN
fbem-11066	59	25	∑	∑	PROPN
fbem-11066	59	26	xij	xij	PROPN
fbem-11066	59	27	n	n	PROPN
fbem-11066	59	28	i	i	NOUN
fbem-11066	59	29	1	1	NUM
fbem-11066	59	30	,	,	PUNCT
fbem-11066	59	31	i	i	PRON
fbem-11066	59	32	1	1	NUM
fbem-11066	59	33	,	,	PUNCT
fbem-11066	59	34	.	.	PUNCT
fbem-11066	59	35	.	.	PUNCT
fbem-11066	60	1	.	.	PUNCT
fbem-11066	61	1	,	,	PUNCT
fbem-11066	61	2	n	n	CCONJ
fbem-11066	61	3	,	,	PUNCT
fbem-11066	61	4	j	j	PROPN
fbem-11066	61	5	1	1	NUM
fbem-11066	61	6	,	,	PUNCT
fbem-11066	61	7	.	.	PUNCT
fbem-11066	62	1	.	.	PUNCT
fbem-11066	63	1	.	.	PUNCT
fbem-11066	64	1	m	m	VERB
fbem-11066	64	2	step	step	NOUN
fbem-11066	64	3	2	2	NUM
fbem-11066	64	4	,	,	PUNCT
fbem-11066	64	5	calculating	calculate	VERB
fbem-11066	64	6	the	the	DET
fbem-11066	64	7	entropy	entropy	NOUN
fbem-11066	64	8	value	value	NOUN
fbem-11066	64	9	for	for	ADP
fbem-11066	64	10	each	each	DET
fbem-11066	64	11	standardized	standardized	ADJ
fbem-11066	64	12	indicator	indicator	NOUN
fbem-11066	64	13	.	.	PUNCT
fbem-11066	65	1	entropy	entropy	PROPN
fbem-11066	65	2	ej	ej	PROPN
fbem-11066	65	3	is	be	AUX
fbem-11066	65	4	used	use	VERB
fbem-11066	65	5	to	to	PART
fbem-11066	65	6	judge	judge	VERB
fbem-11066	65	7	the	the	DET
fbem-11066	65	8	statistical	statistical	ADJ
fbem-11066	65	9	dispersion	dispersion	NOUN
fbem-11066	65	10	of	of	ADP
fbem-11066	65	11	an	an	DET
fbem-11066	65	12	indicator	indicator	NOUN
fbem-11066	65	13	.	.	PUNCT
fbem-11066	66	1	the	the	PRON
fbem-11066	66	2	greater	great	ADJ
fbem-11066	66	3	the	the	DET
fbem-11066	66	4	statistical	statistical	ADJ
fbem-11066	66	5	dispersion	dispersion	NOUN
fbem-11066	66	6	,	,	PUNCT
fbem-11066	66	7	the	the	PRON
fbem-11066	66	8	greater	great	ADJ
fbem-11066	66	9	the	the	DET
fbem-11066	66	10	impact	impact	NOUN
fbem-11066	66	11	of	of	ADP
fbem-11066	66	12	the	the	DET
fbem-11066	66	13	indicator	indicator	NOUN
fbem-11066	66	14	on	on	ADP
fbem-11066	66	15	the	the	DET
fbem-11066	66	16	comprehensive	comprehensive	ADJ
fbem-11066	66	17	evaluation	evaluation	NOUN
fbem-11066	66	18	.	.	PUNCT
fbem-11066	67	1	the	the	DET
fbem-11066	67	2	formula	formula	NOUN
fbem-11066	67	3	is	be	AUX
fbem-11066	67	4	as	as	SCONJ
fbem-11066	67	5	follows	follow	VERB
fbem-11066	67	6	:	:	PUNCT
fbem-11066	67	7	ej	ej	PROPN
fbem-11066	67	8	k	k	PROPN
fbem-11066	67	9	∑	∑	PUNCT
fbem-11066	67	10	pijln	pijln	PROPN
fbem-11066	67	11	pij	pij	NOUN
fbem-11066	67	12	n	n	PROPN
fbem-11066	67	13	i	i	PROPN
fbem-11066	67	14	1	1	NUM
fbem-11066	67	15	,	,	PUNCT
fbem-11066	67	16	j=1,	j=1,	NOUN
fbem-11066	67	17	..	..	PUNCT
fbem-11066	67	18	,m	,m	PUNCT
fbem-11066	67	19	where	where	SCONJ
fbem-11066	67	20	k=1	k=1	PROPN
fbem-11066	67	21	/	/	SYM
fbem-11066	67	22	ln	ln	PROPN
fbem-11066	67	23	(	(	PUNCT
fbem-11066	67	24	n)>0	n)>0	NUM
fbem-11066	67	25	,	,	PUNCT
fbem-11066	67	26	satisfies	satisfie	NOUN
fbem-11066	67	27	ej	ej	PROPN
fbem-11066	67	28	≥	≥	PROPN
fbem-11066	67	29	0	0	NUM
fbem-11066	67	30	.	.	PUNCT
fbem-11066	68	1	step	step	NOUN
fbem-11066	68	2	3	3	NUM
fbem-11066	68	3	,	,	PUNCT
fbem-11066	68	4	calculating	calculate	VERB
fbem-11066	68	5	the	the	DET
fbem-11066	68	6	information	information	NOUN
fbem-11066	68	7	entropy	entropy	NOUN
fbem-11066	68	8	redundancy	redundancy	NOUN
fbem-11066	68	9	(	(	PUNCT
fbem-11066	68	10	difference	difference	NOUN
fbem-11066	68	11	):	):	PUNCT
fbem-11066	68	12	dj	dj	NOUN
fbem-11066	68	13	1	1	NUM
fbem-11066	68	14	ej	ej	PROPN
fbem-11066	68	15	,	,	PUNCT
fbem-11066	68	16	j	j	PROPN
fbem-11066	68	17	1	1	NUM
fbem-11066	68	18	,	,	PUNCT
fbem-11066	68	19	.	.	PUNCT
fbem-11066	68	20	.	.	PUNCT
fbem-11066	69	1	.	.	PUNCT
fbem-11066	70	1	,	,	PUNCT
fbem-11066	70	2	m	m	NOUN
fbem-11066	70	3	step	step	VERB
fbem-11066	70	4	4	4	NUM
fbem-11066	70	5	,	,	PUNCT
fbem-11066	70	6	considering	consider	VERB
fbem-11066	70	7	the	the	DET
fbem-11066	70	8	importance	importance	NOUN
fbem-11066	70	9	of	of	ADP
fbem-11066	70	10	each	each	DET
fbem-11066	70	11	indicator	indicator	NOUN
fbem-11066	70	12	,	,	PUNCT
fbem-11066	70	13	calculate	calculate	VERB
fbem-11066	70	14	the	the	DET
fbem-11066	70	15	corresponding	correspond	VERB
fbem-11066	70	16	weights	weight	NOUN
fbem-11066	70	17	assigned	assign	VERB
fbem-11066	70	18	to	to	ADP
fbem-11066	70	19	each	each	DET
fbem-11066	70	20	indicator	indicator	NOUN
fbem-11066	70	21	.	.	PUNCT
fbem-11066	71	1	the	the	DET
fbem-11066	71	2	weight	weight	NOUN
fbem-11066	71	3	represents	represent	VERB
fbem-11066	71	4	the	the	DET
fbem-11066	71	5	relative	relative	ADJ
fbem-11066	71	6	importance	importance	NOUN
fbem-11066	71	7	of	of	ADP
fbem-11066	71	8	each	each	DET
fbem-11066	71	9	indicator	indicator	NOUN
fbem-11066	71	10	in	in	ADP
fbem-11066	71	11	the	the	DET
fbem-11066	71	12	comprehensive	comprehensive	ADJ
fbem-11066	71	13	evaluation	evaluation	NOUN
fbem-11066	71	14	.	.	PUNCT
fbem-11066	72	1	the	the	DET
fbem-11066	72	2	formula	formula	NOUN
fbem-11066	72	3	is	be	AUX
fbem-11066	72	4	as	as	SCONJ
fbem-11066	72	5	follows	follow	VERB
fbem-11066	72	6	:	:	PUNCT
fbem-11066	72	7	ωj	ωj	PART
fbem-11066	72	8	dj	dj	VERB
fbem-11066	72	9	∑	∑	PUNCT
fbem-11066	72	10	dj	dj	PROPN
fbem-11066	72	11	m	m	PROPN
fbem-11066	72	12	j	j	PROPN
fbem-11066	72	13	1	1	NUM
fbem-11066	72	14	,	,	PUNCT
fbem-11066	72	15	j=1,	j=1,	NOUN
fbem-11066	72	16	..	..	PUNCT
fbem-11066	72	17	,m	,m	PUNCT
fbem-11066	72	18	step	step	NOUN
fbem-11066	72	19	5	5	NUM
fbem-11066	72	20	,	,	PUNCT
fbem-11066	72	21	summing	sum	VERB
fbem-11066	72	22	up	up	ADP
fbem-11066	72	23	all	all	DET
fbem-11066	72	24	weighted	weight	VERB
fbem-11066	72	25	entropy	entropy	NOUN
fbem-11066	72	26	values	value	NOUN
fbem-11066	72	27	to	to	PART
fbem-11066	72	28	obtain	obtain	VERB
fbem-11066	72	29	the	the	DET
fbem-11066	72	30	comprehensive	comprehensive	ADJ
fbem-11066	72	31	score	score	NOUN
fbem-11066	72	32	of	of	ADP
fbem-11066	72	33	the	the	DET
fbem-11066	72	34	fintech	fintech	NOUN
fbem-11066	72	35	index	index	NOUN
fbem-11066	72	36	.	.	PUNCT
fbem-11066	73	1	the	the	DET
fbem-11066	73	2	formula	formula	NOUN
fbem-11066	73	3	is	be	AUX
fbem-11066	73	4	as	as	SCONJ
fbem-11066	73	5	follows	follow	VERB
fbem-11066	73	6	:	:	PUNCT
fbem-11066	73	7	si	si	PROPN
fbem-11066	73	8	ωjxij	ωjxij	PROPN
fbem-11066	73	9	m	m	PROPN
fbem-11066	73	10	j	j	PROPN
fbem-11066	73	11	1	1	NUM
fbem-11066	73	12	,	,	PUNCT
fbem-11066	73	13	i	i	PRON
fbem-11066	73	14	1	1	NUM
fbem-11066	73	15	,	,	PUNCT
fbem-11066	73	16	.	.	PUNCT
fbem-11066	73	17	.	.	PUNCT
fbem-11066	74	1	.	.	PUNCT
fbem-11066	75	1	,	,	PUNCT
fbem-11066	75	2	m	m	VERB
fbem-11066	75	3	where	where	SCONJ
fbem-11066	75	4	xij	xij	PRON
fbem-11066	75	5	is	be	AUX
fbem-11066	75	6	the	the	DET
fbem-11066	75	7	standardized	standardized	ADJ
fbem-11066	75	8	data	datum	NOUN
fbem-11066	75	9	.	.	PUNCT
fbem-11066	76	1	3.4.5	3.4.5	X
fbem-11066	76	2	.	.	PUNCT
fbem-11066	76	3	calculation	calculation	NOUN
fbem-11066	76	4	results	result	VERB
fbem-11066	76	5	3.4.5.1	3.4.5.1	NUM
fbem-11066	76	6	weight	weight	NOUN
fbem-11066	76	7	calculation	calculation	NOUN
fbem-11066	76	8	results	result	VERB
fbem-11066	76	9	table	table	NOUN
fbem-11066	76	10	2	2	NUM
fbem-11066	76	11	.	.	PUNCT
fbem-11066	77	1	weight	weight	NOUN
fbem-11066	77	2	distribution	distribution	NOUN
fbem-11066	77	3	entropy	entropy	NOUN
fbem-11066	77	4	weight	weight	NOUN
fbem-11066	77	5	method	method	NOUN
fbem-11066	77	6	variable	variable	ADJ
fbem-11066	77	7	information	information	NOUN
fbem-11066	77	8	entropy	entropy	NOUN
fbem-11066	77	9	value	value	NOUN
fbem-11066	77	10	e	e	PROPN
fbem-11066	77	11	information	information	NOUN
fbem-11066	77	12	utility	utility	NOUN
fbem-11066	77	13	value	value	NOUN
fbem-11066	77	14	d	d	X
fbem-11066	77	15	weight(%	weight(%	NOUN
fbem-11066	77	16	)	)	PUNCT
fbem-11066	77	17	q1	q1	PROPN
fbem-11066	77	18	-	-	PUNCT
fbem-11066	77	19	nnelfi	nnelfi	NOUN
fbem-11066	77	20	0.799	0.799	NUM
fbem-11066	77	21	0.201	0.201	NUM
fbem-11066	77	22	14.232	14.232	NUM
fbem-11066	77	23	q2	q2	NOUN
fbem-11066	77	24	-	-	PUNCT
fbem-11066	77	25	fis	fis	PROPN
fbem-11066	77	26	0.909	0.909	NUM
fbem-11066	77	27	0.091	0.091	NUM
fbem-11066	77	28	6.419	6.419	NUM
fbem-11066	77	29	q3	q3	NOUN
fbem-11066	77	30	-	-	PUNCT
fbem-11066	77	31	nfu	nfu	PROPN
fbem-11066	77	32	0.839	0.839	NUM
fbem-11066	77	33	0.161	0.161	NUM
fbem-11066	77	34	11.405	11.405	NUM
fbem-11066	77	35	q4	q4	NOUN
fbem-11066	77	36	-	-	PUNCT
fbem-11066	77	37	pap	pap	NOUN
fbem-11066	77	38	0.827	0.827	NUM
fbem-11066	77	39	0.173	0.173	NUM
fbem-11066	77	40	12.218	12.218	NUM
fbem-11066	77	41	q5	q5	NOUN
fbem-11066	77	42	-	-	PUNCT
fbem-11066	77	43	paw	paw	PROPN
fbem-11066	77	44	0.874	0.874	NUM
fbem-11066	77	45	0.126	0.126	NUM
fbem-11066	77	46	8.936	8.936	NUM
fbem-11066	77	47	q6	q6	PROPN
fbem-11066	77	48	-	-	PUNCT
fbem-11066	77	49	nfi	nfi	NOUN
fbem-11066	77	50	0.856	0.856	NUM
fbem-11066	77	51	0.144	0.144	NUM
fbem-11066	77	52	10.179	10.179	NUM
fbem-11066	77	53	q7	q7	PROPN
fbem-11066	77	54	-	-	PUNCT
fbem-11066	77	55	rde	rde	NOUN
fbem-11066	77	56	0.885	0.885	NUM
fbem-11066	77	57	0.115	0.115	NUM
fbem-11066	77	58	8.150	8.150	NUM
fbem-11066	77	59	q8	q8	PROPN
fbem-11066	77	60	-	-	PUNCT
fbem-11066	77	61	sidiffi	sidiffi	PROPN
fbem-11066	77	62	0.848	0.848	NUM
fbem-11066	77	63	0.152	0.152	NUM
fbem-11066	77	64	10.739	10.739	NUM
fbem-11066	77	65	q9	q9	PROPN
fbem-11066	77	66	-	-	PUNCT
fbem-11066	77	67	tse	tse	PROPN
fbem-11066	77	68	-	-	PUNCT
fbem-11066	77	69	f	f	PROPN
fbem-11066	77	70	0.836	0.836	NUM
fbem-11066	77	71	0.164	0.164	NUM
fbem-11066	77	72	11.633	11.633	NUM
fbem-11066	77	73	q10	q10	PROPN
fbem-11066	77	74	-	-	PUNCT
fbem-11066	77	75	ars	ars	PROPN
fbem-11066	77	76	-	-	PUNCT
fbem-11066	77	77	gfci	gfci	NOUN
fbem-11066	77	78	0.914	0.914	NUM
fbem-11066	77	79	0.086	0.086	NUM
fbem-11066	77	80	6.088	6.088	NUM
fbem-11066	77	81	the	the	DET
fbem-11066	77	82	weight	weight	NOUN
fbem-11066	77	83	calculation	calculation	NOUN
fbem-11066	77	84	results	result	NOUN
fbem-11066	77	85	of	of	ADP
fbem-11066	77	86	the	the	DET
fbem-11066	77	87	entropy	entropy	NOUN
fbem-11066	77	88	method	method	NOUN
fbem-11066	77	89	show	show	VERB
fbem-11066	77	90	that	that	SCONJ
fbem-11066	77	91	the	the	DET
fbem-11066	77	92	weights	weight	NOUN
fbem-11066	77	93	of	of	ADP
fbem-11066	77	94	q1	q1	NOUN
fbem-11066	77	95	-	-	PUNCT
fbem-11066	77	96	nnelfi	nnelfi	NOUN
fbem-11066	77	97	standardization	standardization	NOUN
fbem-11066	77	98	are	be	AUX
fbem-11066	77	99	14.232	14.232	NUM
fbem-11066	77	100	%	%	NOUN
fbem-11066	77	101	,	,	PUNCT
fbem-11066	77	102	q2	q2	NOUN
fbem-11066	77	103	-	-	PUNCT
fbem-11066	77	104	fis	fis	PROPN
fbem-11066	77	105	standardization	standardization	NOUN
fbem-11066	77	106	is	be	AUX
fbem-11066	77	107	6.419	6.419	NUM
fbem-11066	77	108	%	%	NOUN
fbem-11066	77	109	,	,	PUNCT
fbem-11066	77	110	q3	q3	NOUN
fbem-11066	77	111	-	-	PUNCT
fbem-11066	77	112	nfu	nfu	NOUN
fbem-11066	77	113	standardization	standardization	NOUN
fbem-11066	77	114	is	be	AUX
fbem-11066	77	115	11.405	11.405	NUM
fbem-11066	77	116	%	%	NOUN
fbem-11066	77	117	,	,	PUNCT
fbem-11066	77	118	q4	q4	PROPN
fbem-11066	77	119	-	-	PUNCT
fbem-11066	77	120	pap	pap	NOUN
fbem-11066	77	121	standardization	standardization	NOUN
fbem-11066	77	122	is	be	AUX
fbem-11066	77	123	12.218	12.218	NUM
fbem-11066	77	124	%	%	NOUN
fbem-11066	77	125	,	,	PUNCT
fbem-11066	77	126	q5	q5	PROPN
fbem-11066	77	127	-	-	PUNCT
fbem-11066	77	128	paw	paw	NOUN
fbem-11066	77	129	standardization	standardization	NOUN
fbem-11066	77	130	is	be	AUX
fbem-11066	77	131	8.936	8.936	NUM
fbem-11066	77	132	%	%	NOUN
fbem-11066	77	133	,	,	PUNCT
fbem-11066	77	134	q6	q6	PROPN
fbem-11066	77	135	-	-	PUNCT
fbem-11066	77	136	nfi	nfi	ADJ
fbem-11066	77	137	standardization	standardization	NOUN
fbem-11066	77	138	is	be	AUX
fbem-11066	77	139	10.179	10.179	NUM
fbem-11066	77	140	%	%	NOUN
fbem-11066	77	141	,	,	PUNCT
fbem-11066	77	142	q10	q10	PROPN
fbem-11066	77	143	-	-	PUNCT
fbem-11066	77	144	rde	rde	PROPN
fbem-11066	77	145	standardization	standardization	NOUN
fbem-11066	77	146	is	be	AUX
fbem-11066	77	147	8.15	8.15	NUM
fbem-11066	77	148	%	%	NOUN
fbem-11066	77	149	,	,	PUNCT
fbem-11066	77	150	q7	q7	PROPN
fbem-11066	77	151	-	-	ADJ
fbem-11066	77	152	sidiffi	sidiffi	ADJ
fbem-11066	77	153	standardization	standardization	NOUN
fbem-11066	77	154	is	be	AUX
fbem-11066	77	155	10.739	10.739	NUM
fbem-11066	77	156	%	%	NOUN
fbem-11066	77	157	,	,	PUNCT
fbem-11066	77	158	and	and	CCONJ
fbem-11066	77	159	q9	q9	PROPN
fbem-11066	77	160	-	-	PUNCT
fbem-11066	77	161	tse	tse	PROPN
fbem-11066	77	162	-	-	PUNCT
fbem-11066	77	163	f	f	NOUN
fbem-11066	77	164	standardization	standardization	NOUN
fbem-11066	77	165	is	be	AUX
fbem-11066	77	166	11.633	11.633	NUM
fbem-11066	77	167	%	%	NOUN
fbem-11066	77	168	the	the	DET
fbem-11066	77	169	weight	weight	NOUN
fbem-11066	77	170	of	of	ADP
fbem-11066	77	171	q12	q12	NOUN
fbem-11066	77	172	-	-	PUNCT
fbem-11066	77	173	ars	ar	NOUN
fbem-11066	77	174	-	-	PUNCT
fbem-11066	77	175	gfci	gfci	NOUN
fbem-11066	77	176	standardization	standardization	NOUN
fbem-11066	77	177	is	be	AUX
fbem-11066	77	178	6.088	6.088	NUM
fbem-11066	77	179	%	%	NOUN
fbem-11066	77	180	,	,	PUNCT
fbem-11066	77	181	with	with	ADP
fbem-11066	77	182	the	the	DET
fbem-11066	77	183	maximum	maximum	ADJ
fbem-11066	77	184	value	value	NOUN
fbem-11066	77	185	of	of	ADP
fbem-11066	77	186	indicator	indicator	NOUN
fbem-11066	77	187	weight	weight	NOUN
fbem-11066	77	188	being	be	AUX
fbem-11066	77	189	q1	q1	NOUN
fbem-11066	77	190	-	-	PUNCT
fbem-11066	77	191	nnelfi	nnelfi	NOUN
fbem-11066	77	192	standardization	standardization	NOUN
fbem-11066	77	193	(	(	PUNCT
fbem-11066	77	194	14.232	14.232	NUM
fbem-11066	77	195	%	%	NOUN
fbem-11066	77	196	)	)	PUNCT
fbem-11066	77	197	and	and	CCONJ
fbem-11066	77	198	the	the	DET
fbem-11066	77	199	minimum	minimum	ADJ
fbem-11066	77	200	value	value	NOUN
fbem-11066	77	201	being	be	AUX
fbem-11066	77	202	q12	q12	NOUN
fbem-11066	77	203	-	-	PUNCT
fbem-11066	77	204	ars	ar	NOUN
fbem-11066	77	205	-	-	PUNCT
fbem-11066	77	206	gfci	gfci	NOUN
fbem-11066	77	207	standardization	standardization	NOUN
fbem-11066	77	208	(	(	PUNCT
fbem-11066	77	209	6.088	6.088	NUM
fbem-11066	77	210	%	%	NOUN
fbem-11066	77	211	)	)	PUNCT
fbem-11066	77	212	.	.	PUNCT
fbem-11066	78	1	3.4.5.2	3.4.5.2	NUM
fbem-11066	78	2	variable	variable	ADJ
fbem-11066	78	3	weight	weight	NOUN
fbem-11066	78	4	histogram	histogram	NOUN
fbem-11066	78	5	q1	q1	PROPN
fbem-11066	78	6	-	-	PUNCT
fbem-11066	78	7	nnelfi	nnelfi	NOUN
fbem-11066	78	8	has	have	VERB
fbem-11066	78	9	a	a	DET
fbem-11066	78	10	relatively	relatively	ADV
fbem-11066	78	11	high	high	ADJ
fbem-11066	78	12	weight	weight	NOUN
fbem-11066	78	13	in	in	ADP
fbem-11066	78	14	the	the	DET
fbem-11066	78	15	fintech	fintech	NOUN
fbem-11066	78	16	index	index	NOUN
fbem-11066	78	17	,	,	PUNCT
fbem-11066	78	18	while	while	SCONJ
fbem-11066	78	19	q1	q1	NOUN
fbem-11066	78	20	-	-	PUNCT
fbem-11066	78	21	nnelfi	nnelfi	NOUN
fbem-11066	78	22	has	have	VERB
fbem-11066	78	23	a	a	DET
fbem-11066	78	24	relatively	relatively	ADV
fbem-11066	78	25	low	low	ADJ
fbem-11066	78	26	weight	weight	NOUN
fbem-11066	78	27	in	in	ADP
fbem-11066	78	28	the	the	DET
fbem-11066	78	29	fintech	fintech	NOUN
fbem-11066	78	30	index	index	NOUN
fbem-11066	78	31	.	.	PUNCT
fbem-11066	79	1	in	in	ADP
fbem-11066	79	2	the	the	DET
fbem-11066	79	3	calculation	calculation	NOUN
fbem-11066	79	4	of	of	ADP
fbem-11066	79	5	the	the	DET
fbem-11066	79	6	weight	weight	NOUN
fbem-11066	79	7	of	of	ADP
fbem-11066	79	8	the	the	DET
fbem-11066	79	9	fintech	fintech	NOUN
fbem-11066	79	10	index	index	NOUN
fbem-11066	79	11	,	,	PUNCT
fbem-11066	79	12	the	the	DET
fbem-11066	79	13	proportion	proportion	NOUN
fbem-11066	79	14	of	of	ADP
fbem-11066	79	15	micro	micro	ADJ
fbem-11066	79	16	indicators	indicator	NOUN
fbem-11066	79	17	in	in	ADP
fbem-11066	79	18	fintech	fintech	NOUN
fbem-11066	79	19	is	be	AUX
fbem-11066	79	20	the	the	DET
fbem-11066	79	21	highest	high	ADJ
fbem-11066	79	22	,	,	PUNCT
fbem-11066	79	23	accounting	account	VERB
fbem-11066	79	24	for	for	ADP
fbem-11066	79	25	63	63	NUM
fbem-11066	79	26	%	%	NOUN
fbem-11066	79	27	,	,	PUNCT
fbem-11066	79	28	as	as	SCONJ
fbem-11066	79	29	it	it	PRON
fbem-11066	79	30	better	well	ADV
fbem-11066	79	31	reflects	reflect	VERB
fbem-11066	79	32	the	the	DET
fbem-11066	79	33	actual	actual	ADJ
fbem-11066	79	34	situation	situation	NOUN
fbem-11066	79	35	of	of	ADP
fbem-11066	79	36	fintech	fintech	NOUN
fbem-11066	79	37	in	in	ADP
fbem-11066	79	38	the	the	DET
fbem-11066	79	39	industry	industry	NOUN
fbem-11066	79	40	and	and	CCONJ
fbem-11066	79	41	institutions	institution	NOUN
fbem-11066	79	42	.	.	PUNCT
fbem-11066	80	1	the	the	DET
fbem-11066	80	2	proportion	proportion	NOUN
fbem-11066	80	3	of	of	ADP
fbem-11066	80	4	macro	macro	ADJ
fbem-11066	80	5	indicators	indicator	NOUN
fbem-11066	80	6	in	in	ADP
fbem-11066	80	7	fintech	fintech	NOUN
fbem-11066	80	8	is	be	AUX
fbem-11066	80	9	31	31	NUM
fbem-11066	80	10	%	%	NOUN
fbem-11066	80	11	,	,	PUNCT
fbem-11066	80	12	but	but	CCONJ
fbem-11066	80	13	a	a	DET
fbem-11066	80	14	single	single	ADJ
fbem-11066	80	15	indicator	indicator	NOUN
fbem-11066	80	16	of	of	ADP
fbem-11066	80	17	r&d	r&d	NOUN
fbem-11066	80	18	funding	funding	NOUN
fbem-11066	80	19	from	from	ADP
fbem-11066	80	20	government	government	NOUN
fbem-11066	80	21	departments	department	NOUN
fbem-11066	80	22	has	have	VERB
fbem-11066	80	23	a	a	DET
fbem-11066	80	24	relatively	relatively	ADV
fbem-11066	80	25	significant	significant	ADJ
fbem-11066	80	26	impact	impact	NOUN
fbem-11066	80	27	on	on	ADP
fbem-11066	80	28	the	the	DET
fbem-11066	80	29	fintech	fintech	NOUN
fbem-11066	80	30	index	index	NOUN
fbem-11066	80	31	.	.	PUNCT
fbem-11066	81	1	external	external	ADJ
fbem-11066	81	2	evaluation	evaluation	NOUN
fbem-11066	81	3	selection	selection	NOUN
fbem-11066	81	4	is	be	AUX
fbem-11066	81	5	an	an	DET
fbem-11066	81	6	authoritative	authoritative	ADJ
fbem-11066	81	7	international	international	ADJ
fbem-11066	81	8	evaluation	evaluation	NOUN
fbem-11066	81	9	that	that	PRON
fbem-11066	81	10	serves	serve	VERB
fbem-11066	81	11	as	as	ADP
fbem-11066	81	12	a	a	DET
fbem-11066	81	13	reference	reference	NOUN
fbem-11066	81	14	and	and	CCONJ
fbem-11066	81	15	has	have	VERB
fbem-11066	81	16	a	a	DET
fbem-11066	81	17	low	low	ADJ
fbem-11066	81	18	weight	weight	NOUN
fbem-11066	81	19	.	.	PUNCT
fbem-11066	82	1	it	it	PRON
fbem-11066	82	2	can	can	AUX
fbem-11066	82	3	indirectly	indirectly	ADV
fbem-11066	82	4	reflect	reflect	VERB
fbem-11066	82	5	the	the	DET
fbem-11066	82	6	gathering	gathering	NOUN
fbem-11066	82	7	center	center	NOUN
fbem-11066	82	8	of	of	ADP
fbem-11066	82	9	financial	financial	ADJ
fbem-11066	82	10	technology	technology	NOUN
fbem-11066	82	11	.	.	PUNCT
fbem-11066	83	1	333	333	NUM
fbem-11066	83	2	figure	figure	NOUN
fbem-11066	83	3	2	2	NUM
fbem-11066	83	4	.	.	PUNCT
fbem-11066	83	5	variable	variable	ADJ
fbem-11066	83	6	weight	weight	NOUN
fbem-11066	83	7	histogram	histogram	NOUN
fbem-11066	83	8	3.4.6	3.4.6	NUM
fbem-11066	83	9	.	.	PUNCT
fbem-11066	84	1	result	result	VERB
fbem-11066	84	2	analysis	analysis	NOUN
fbem-11066	84	3	from	from	ADP
fbem-11066	84	4	2010	2010	NUM
fbem-11066	84	5	to	to	ADP
fbem-11066	84	6	2014	2014	NUM
fbem-11066	84	7	,	,	PUNCT
fbem-11066	84	8	the	the	DET
fbem-11066	84	9	singapore	singapore	PROPN
fbem-11066	84	10	financial	financial	PROPN
fbem-11066	84	11	technology	technology	PROPN
fbem-11066	84	12	index	index	NOUN
fbem-11066	84	13	experienced	experience	VERB
fbem-11066	84	14	rapid	rapid	ADJ
fbem-11066	84	15	growth	growth	NOUN
fbem-11066	84	16	.	.	PUNCT
fbem-11066	85	1	during	during	ADP
fbem-11066	85	2	this	this	DET
fbem-11066	85	3	period	period	NOUN
fbem-11066	85	4	,	,	PUNCT
fbem-11066	85	5	the	the	DET
fbem-11066	85	6	fintech	fintech	NOUN
fbem-11066	85	7	index	index	NOUN
fbem-11066	85	8	gradually	gradually	ADV
fbem-11066	85	9	increased	increase	VERB
fbem-11066	85	10	from	from	ADP
fbem-11066	85	11	0.028	0.028	NUM
fbem-11066	85	12	to	to	ADP
fbem-11066	85	13	0.410	0.410	NUM
fbem-11066	85	14	,	,	PUNCT
fbem-11066	85	15	indicating	indicate	VERB
fbem-11066	85	16	a	a	DET
fbem-11066	85	17	clear	clear	ADJ
fbem-11066	85	18	growth	growth	NOUN
fbem-11066	85	19	trend	trend	NOUN
fbem-11066	85	20	.	.	PUNCT
fbem-11066	86	1	next	next	ADV
fbem-11066	86	2	,	,	PUNCT
fbem-11066	86	3	from	from	ADP
fbem-11066	86	4	2014	2014	NUM
fbem-11066	86	5	to	to	ADP
fbem-11066	86	6	2016	2016	NUM
fbem-11066	86	7	,	,	PUNCT
fbem-11066	86	8	the	the	DET
fbem-11066	86	9	fintech	fintech	NOUN
fbem-11066	86	10	index	index	NOUN
fbem-11066	86	11	continued	continue	VERB
fbem-11066	86	12	to	to	PART
fbem-11066	86	13	grow	grow	VERB
fbem-11066	86	14	,	,	PUNCT
fbem-11066	86	15	but	but	CCONJ
fbem-11066	86	16	the	the	DET
fbem-11066	86	17	growth	growth	NOUN
fbem-11066	86	18	rate	rate	NOUN
fbem-11066	86	19	slowed	slow	VERB
fbem-11066	86	20	down	down	ADP
fbem-11066	86	21	.	.	PUNCT
fbem-11066	87	1	from	from	ADP
fbem-11066	87	2	2017	2017	NUM
fbem-11066	87	3	to	to	ADP
fbem-11066	87	4	2020	2020	NUM
fbem-11066	87	5	,	,	PUNCT
fbem-11066	87	6	the	the	DET
fbem-11066	87	7	fintech	fintech	NOUN
fbem-11066	87	8	index	index	NOUN
fbem-11066	87	9	once	once	ADV
fbem-11066	87	10	again	again	ADV
fbem-11066	87	11	showed	show	VERB
fbem-11066	87	12	rapid	rapid	ADJ
fbem-11066	87	13	growth	growth	NOUN
fbem-11066	87	14	overall	overall	NOUN
fbem-11066	87	15	.	.	PUNCT
fbem-11066	88	1	during	during	ADP
fbem-11066	88	2	this	this	DET
fbem-11066	88	3	period	period	NOUN
fbem-11066	88	4	,	,	PUNCT
fbem-11066	88	5	the	the	DET
fbem-11066	88	6	fintech	fintech	NOUN
fbem-11066	88	7	index	index	NOUN
fbem-11066	88	8	increased	increase	VERB
fbem-11066	88	9	from	from	ADP
fbem-11066	88	10	0.519	0.519	NUM
fbem-11066	88	11	to	to	ADP
fbem-11066	88	12	0.619	0.619	NUM
fbem-11066	88	13	,	,	PUNCT
fbem-11066	88	14	indicating	indicate	VERB
fbem-11066	88	15	another	another	DET
fbem-11066	88	16	significant	significant	ADJ
fbem-11066	88	17	growth	growth	NOUN
fbem-11066	88	18	trend	trend	NOUN
fbem-11066	88	19	.	.	PUNCT
fbem-11066	89	1	however	however	ADV
fbem-11066	89	2	,	,	PUNCT
fbem-11066	89	3	from	from	ADP
fbem-11066	89	4	2020	2020	NUM
fbem-11066	89	5	to	to	ADP
fbem-11066	89	6	2022	2022	NUM
fbem-11066	89	7	,	,	PUNCT
fbem-11066	89	8	the	the	DET
fbem-11066	89	9	growth	growth	NOUN
fbem-11066	89	10	trend	trend	NOUN
fbem-11066	89	11	of	of	ADP
fbem-11066	89	12	the	the	DET
fbem-11066	89	13	fintech	fintech	NOUN
fbem-11066	89	14	index	index	NOUN
fbem-11066	89	15	seems	seem	VERB
fbem-11066	89	16	to	to	PART
fbem-11066	89	17	have	have	AUX
fbem-11066	89	18	slowed	slow	VERB
fbem-11066	89	19	down	down	ADP
fbem-11066	89	20	.	.	PUNCT
fbem-11066	90	1	although	although	SCONJ
fbem-11066	90	2	the	the	DET
fbem-11066	90	3	fintech	fintech	NOUN
fbem-11066	90	4	index	index	NOUN
fbem-11066	90	5	has	have	AUX
fbem-11066	90	6	increased	increase	VERB
fbem-11066	90	7	from	from	ADP
fbem-11066	90	8	0.619	0.619	NUM
fbem-11066	90	9	to	to	ADP
fbem-11066	90	10	0.674	0.674	NUM
fbem-11066	90	11	,	,	PUNCT
fbem-11066	90	12	the	the	DET
fbem-11066	90	13	growth	growth	NOUN
fbem-11066	90	14	rate	rate	NOUN
fbem-11066	90	15	has	have	AUX
fbem-11066	90	16	slightly	slightly	ADV
fbem-11066	90	17	slowed	slow	VERB
fbem-11066	90	18	down	down	ADP
fbem-11066	90	19	compared	compare	VERB
fbem-11066	90	20	to	to	ADP
fbem-11066	90	21	the	the	DET
fbem-11066	90	22	previous	previous	ADJ
fbem-11066	90	23	period	period	NOUN
fbem-11066	90	24	.	.	PUNCT
fbem-11066	91	1	overall	overall	ADV
fbem-11066	91	2	,	,	PUNCT
fbem-11066	91	3	it	it	PRON
fbem-11066	91	4	can	can	AUX
fbem-11066	91	5	be	be	AUX
fbem-11066	91	6	said	say	VERB
fbem-11066	91	7	that	that	SCONJ
fbem-11066	91	8	the	the	DET
fbem-11066	91	9	singapore	singapore	PROPN
fbem-11066	91	10	fintech	fintech	NOUN
fbem-11066	91	11	index	index	NOUN
fbem-11066	91	12	has	have	AUX
fbem-11066	91	13	shown	show	VERB
fbem-11066	91	14	a	a	DET
fbem-11066	91	15	growth	growth	NOUN
fbem-11066	91	16	trend	trend	NOUN
fbem-11066	91	17	,	,	PUNCT
fbem-11066	91	18	but	but	CCONJ
fbem-11066	91	19	the	the	DET
fbem-11066	91	20	growth	growth	NOUN
fbem-11066	91	21	rate	rate	NOUN
fbem-11066	91	22	may	may	AUX
fbem-11066	91	23	fluctuate	fluctuate	VERB
fbem-11066	91	24	over	over	ADP
fbem-11066	91	25	different	different	ADJ
fbem-11066	91	26	time	time	NOUN
fbem-11066	91	27	periods	period	NOUN
fbem-11066	91	28	.	.	PUNCT
fbem-11066	92	1	from	from	ADP
fbem-11066	92	2	2010	2010	NUM
fbem-11066	92	3	to	to	ADP
fbem-11066	92	4	2022	2022	NUM
fbem-11066	92	5	,	,	PUNCT
fbem-11066	92	6	the	the	DET
fbem-11066	92	7	index	index	NOUN
fbem-11066	92	8	gradually	gradually	ADV
fbem-11066	92	9	increased	increase	VERB
fbem-11066	92	10	,	,	PUNCT
fbem-11066	92	11	but	but	CCONJ
fbem-11066	92	12	the	the	DET
fbem-11066	92	13	rate	rate	NOUN
fbem-11066	92	14	of	of	ADP
fbem-11066	92	15	growth	growth	NOUN
fbem-11066	92	16	varied	vary	VERB
fbem-11066	92	17	over	over	ADP
fbem-11066	92	18	different	different	ADJ
fbem-11066	92	19	time	time	NOUN
fbem-11066	92	20	periods	period	NOUN
fbem-11066	92	21	.	.	PUNCT
fbem-11066	93	1	figure	figure	NOUN
fbem-11066	93	2	3	3	NUM
fbem-11066	93	3	.	.	NOUN
fbem-11066	93	4	trends	trend	NOUN
fbem-11066	93	5	in	in	ADP
fbem-11066	93	6	fintech	fintech	NOUN
fbem-11066	93	7	index	index	NOUN
fbem-11066	93	8	3.5	3.5	NUM
fbem-11066	93	9	.	.	PUNCT
fbem-11066	94	1	empirical	empirical	ADJ
fbem-11066	94	2	analysis	analysis	NOUN
fbem-11066	94	3	3.5.1	3.5.1	NUM
fbem-11066	94	4	.	.	PUNCT
fbem-11066	95	1	research	research	NOUN
fbem-11066	95	2	assumptions	assumption	NOUN
fbem-11066	95	3	h1	h1	PROPN
fbem-11066	95	4	:	:	PUNCT
fbem-11066	95	5	the	the	DET
fbem-11066	95	6	improvement	improvement	NOUN
fbem-11066	95	7	of	of	ADP
fbem-11066	95	8	financial	financial	ADJ
fbem-11066	95	9	technology	technology	NOUN
fbem-11066	95	10	has	have	AUX
fbem-11066	95	11	led	lead	VERB
fbem-11066	95	12	to	to	ADP
fbem-11066	95	13	an	an	DET
fbem-11066	95	14	increase	increase	NOUN
fbem-11066	95	15	in	in	ADP
fbem-11066	95	16	social	social	ADJ
fbem-11066	95	17	consumption	consumption	NOUN
fbem-11066	95	18	levels	level	NOUN
fbem-11066	95	19	.	.	PUNCT
fbem-11066	96	1	h2	h2	NOUN
fbem-11066	96	2	:	:	PUNCT
fbem-11066	96	3	the	the	DET
fbem-11066	96	4	improvement	improvement	NOUN
fbem-11066	96	5	of	of	ADP
fbem-11066	96	6	financial	financial	ADJ
fbem-11066	96	7	technology	technology	NOUN
fbem-11066	96	8	has	have	AUX
fbem-11066	96	9	promoted	promote	VERB
fbem-11066	96	10	the	the	DET
fbem-11066	96	11	improvement	improvement	NOUN
fbem-11066	96	12	of	of	ADP
fbem-11066	96	13	social	social	ADJ
fbem-11066	96	14	investment	investment	NOUN
fbem-11066	96	15	level	level	NOUN
fbem-11066	96	16	.	.	PUNCT
fbem-11066	97	1	h3	h3	NOUN
fbem-11066	97	2	:	:	PUNCT
fbem-11066	97	3	the	the	DET
fbem-11066	97	4	enhancement	enhancement	NOUN
fbem-11066	97	5	of	of	ADP
fbem-11066	97	6	financial	financial	ADJ
fbem-11066	97	7	technology	technology	NOUN
fbem-11066	97	8	development	development	NOUN
fbem-11066	97	9	level	level	NOUN
fbem-11066	97	10	positively	positively	ADV
fbem-11066	97	11	influences	influence	VERB
fbem-11066	97	12	economic	economic	ADJ
fbem-11066	97	13	growth	growth	NOUN
fbem-11066	97	14	.	.	PUNCT
fbem-11066	98	1	h4	h4	NOUN
fbem-11066	98	2	:	:	PUNCT
fbem-11066	98	3	financial	financial	ADJ
fbem-11066	98	4	technology	technology	NOUN
fbem-11066	98	5	affects	affect	VERB
fbem-11066	98	6	the	the	DET
fbem-11066	98	7	corresponding	corresponding	ADJ
fbem-11066	98	8	changes	change	NOUN
fbem-11066	98	9	in	in	ADP
fbem-11066	98	10	the	the	DET
fbem-11066	98	11	consumption	consumption	NOUN
fbem-11066	98	12	and	and	CCONJ
fbem-11066	98	13	investment	investment	NOUN
fbem-11066	98	14	markets	market	NOUN
fbem-11066	98	15	with	with	ADP
fbem-11066	98	16	the	the	DET
fbem-11066	98	17	fluctuation	fluctuation	NOUN
fbem-11066	98	18	of	of	ADP
fbem-11066	98	19	ir	ir	PROPN
fbem-11066	98	20	,	,	PUNCT
fbem-11066	98	21	thereby	thereby	ADV
fbem-11066	98	22	promoting	promote	VERB
fbem-11066	98	23	the	the	DET
fbem-11066	98	24	growth	growth	NOUN
fbem-11066	98	25	of	of	ADP
fbem-11066	98	26	consumption	consumption	NOUN
fbem-11066	98	27	and	and	CCONJ
fbem-11066	98	28	investment	investment	NOUN
fbem-11066	98	29	.	.	PUNCT
fbem-11066	99	1	3.5.2	3.5.2	X
fbem-11066	99	2	.	.	PUNCT
fbem-11066	99	3	model	model	NOUN
fbem-11066	99	4	settings	setting	NOUN
fbem-11066	99	5	given	give	VERB
fbem-11066	99	6	the	the	DET
fbem-11066	99	7	assumptions	assumption	NOUN
fbem-11066	99	8	,	,	PUNCT
fbem-11066	99	9	fintech	fintech	NOUN
fbem-11066	99	10	enhances	enhance	VERB
fbem-11066	99	11	market	market	NOUN
fbem-11066	99	12	efficiency	efficiency	NOUN
fbem-11066	99	13	and	and	CCONJ
fbem-11066	99	14	service	service	NOUN
fbem-11066	99	15	levels	level	NOUN
fbem-11066	99	16	,	,	PUNCT
fbem-11066	99	17	reflected	reflect	VERB
fbem-11066	99	18	in	in	ADP
fbem-11066	99	19	lower	low	ADJ
fbem-11066	99	20	ir	ir	NOUN
fbem-11066	99	21	and	and	CCONJ
fbem-11066	99	22	higher	high	ADJ
fbem-11066	99	23	pce	pce	PROPN
fbem-11066	99	24	/	/	SYM
fbem-11066	99	25	gce	gce	PROPN
fbem-11066	99	26	/	/	SYM
fbem-11066	99	27	rsi	rsi	NOUN
fbem-11066	99	28	/	/	SYM
fbem-11066	99	29	gfcf	gfcf	NOUN
fbem-11066	99	30	/	/	SYM
fbem-11066	99	31	mppi	mppi	PROPN
fbem-11066	99	32	.	.	PUNCT
fbem-11066	100	1	this	this	PRON
fbem-11066	100	2	leads	lead	VERB
fbem-11066	100	3	to	to	ADP
fbem-11066	100	4	boosted	boost	VERB
fbem-11066	100	5	market	market	NOUN
fbem-11066	100	6	consumption	consumption	NOUN
fbem-11066	100	7	and	and	CCONJ
fbem-11066	100	8	investment	investment	NOUN
fbem-11066	100	9	,	,	PUNCT
fbem-11066	100	10	indirectly	indirectly	ADV
fbem-11066	100	11	influencing	influence	VERB
fbem-11066	100	12	economic	economic	ADJ
fbem-11066	100	13	growth	growth	NOUN
fbem-11066	100	14	.	.	PUNCT
fbem-11066	101	1	our	our	PRON
fbem-11066	101	2	model	model	NOUN
fbem-11066	101	3	reflects	reflect	VERB
fbem-11066	101	4	this	this	PRON
fbem-11066	101	5	,	,	PUNCT
fbem-11066	101	6	where	where	SCONJ
fbem-11066	101	7	y	y	PROPN
fbem-11066	101	8	represents	represent	VERB
fbem-11066	101	9	economic	economic	ADJ
fbem-11066	101	10	growth	growth	NOUN
fbem-11066	101	11	,	,	PUNCT
fbem-11066	101	12	c	c	PROPN
fbem-11066	101	13	reflects	reflect	VERB
fbem-11066	101	14	social	social	ADJ
fbem-11066	101	15	consumption	consumption	NOUN
fbem-11066	101	16	,	,	PUNCT
fbem-11066	101	17	and	and	CCONJ
fbem-11066	101	18	i	i	PRON
fbem-11066	101	19	represents	represent	VERB
fbem-11066	101	20	social	social	ADJ
fbem-11066	101	21	investment	investment	NOUN
fbem-11066	101	22	.	.	PUNCT
fbem-11066	102	1	3.5.3	3.5.3	NUM
fbem-11066	102	2	.	.	PUNCT
fbem-11066	102	3	data	datum	NOUN
fbem-11066	102	4	collection	collection	NOUN
fbem-11066	102	5	and	and	CCONJ
fbem-11066	102	6	variable	variable	ADJ
fbem-11066	102	7	statement	statement	NOUN
fbem-11066	102	8	quarterly	quarterly	ADJ
fbem-11066	102	9	economic	economic	ADJ
fbem-11066	102	10	data	datum	NOUN
fbem-11066	102	11	from	from	ADP
fbem-11066	102	12	singapore	singapore	PROPN
fbem-11066	102	13	(	(	PUNCT
fbem-11066	102	14	2010	2010	NUM
fbem-11066	102	15	-	-	SYM
fbem-11066	102	16	2022	2022	NUM
fbem-11066	102	17	)	)	PUNCT
fbem-11066	102	18	were	be	AUX
fbem-11066	102	19	selected	select	VERB
fbem-11066	102	20	for	for	ADP
fbem-11066	102	21	analysis	analysis	NOUN
fbem-11066	102	22	,	,	PUNCT
fbem-11066	102	23	obtained	obtain	VERB
fbem-11066	102	24	from	from	ADP
fbem-11066	102	25	trusted	trusted	ADJ
fbem-11066	102	26	authorities	authority	NOUN
fbem-11066	102	27	.	.	PUNCT
fbem-11066	103	1	the	the	DET
fbem-11066	103	2	model	model	NOUN
fbem-11066	103	3	calculations	calculation	NOUN
fbem-11066	103	4	were	be	AUX
fbem-11066	103	5	performed	perform	VERB
fbem-11066	103	6	using	use	VERB
fbem-11066	103	7	spss	spss	PROPN
fbem-11066	103	8	software.the	software.the	PROPN
fbem-11066	103	9	data	datum	NOUN
fbem-11066	103	10	sources	source	NOUN
fbem-11066	103	11	are	be	AUX
fbem-11066	103	12	as	as	SCONJ
fbem-11066	103	13	follows	follow	VERB
fbem-11066	103	14	:	:	PUNCT
fbem-11066	103	15	singapore	singapore	PROPN
fbem-11066	103	16	department	department	PROPN
fbem-11066	103	17	of	of	ADP
fbem-11066	103	18	statistics	statistic	NOUN
fbem-11066	103	19			ADJ
fbem-11066	103	20	https://www.singstat.gov.sg/publications/reference/sing	https://www.singstat.gov.sg/publications/reference/se	VERB
fbem-11066	103	21	apore	apore	NOUN
fbem-11066	103	22	-	-	PUNCT
fbem-11066	103	23	in	in	ADP
fbem-11066	103	24	-	-	PUNCT
fbem-11066	103	25	figures	figure	NOUN
fbem-11066	103	26	/	/	SYM
fbem-11066	103	27	trade	trade	NOUN
fbem-11066	103	28	-	-	PUNCT
fbem-11066	103	29	and	and	CCONJ
fbem-11066	103	30	-investment	-investment	PROPN
fbem-11066	103	31			PROPN
fbem-11066	103	32	singapore	singapore	PROPN
fbem-11066	103	33	-	-	PUNCT
fbem-11066	103	34	ministry	ministry	NOUN
fbem-11066	103	35	-	-	PUNCT
fbem-11066	103	36	of	of	ADP
fbem-11066	103	37	-	-	PUNCT
fbem-11066	103	38	manpower	manpower	NOUN
fbem-11066	103	39			X
fbem-11066	103	40	https://stats.mom.gov.sg/statistics/pages/labourforce.as	https://stats.mom.gov.sg/statistics/pages/labourforce.as	PROPN
fbem-11066	103	41	px	px	PROPN
fbem-11066	103	42			VERB
fbem-11066	103	43	monetary	monetary	ADJ
fbem-11066	103	44	authority	authority	NOUN
fbem-11066	103	45	of	of	ADP
fbem-11066	103	46	singapore	singapore	PROPN
fbem-11066	103	47			PROPN
fbem-11066	103	48	https://eservices.mas.gov.sg/statistics/msb/exchangera	https://eservices.mas.gov.sg/statistics/msb/exchangera	PROPN
fbem-11066	103	49	tes.aspx	tes.aspx	X
fbem-11066	103	50			VERB
fbem-11066	103	51	the	the	DET
fbem-11066	103	52	association	association	NOUN
fbem-11066	103	53	of	of	ADP
fbem-11066	103	54	banks	bank	NOUN
fbem-11066	103	55	in	in	ADP
fbem-11066	103	56	singapore	singapore	PROPN
fbem-11066	103	57	6.088	6.088	NUM
fbem-11066	103	58	%	%	NOUN
fbem-11066	103	59	6.419	6.419	NUM
fbem-11066	103	60	%	%	NOUN
fbem-11066	103	61	8.150	8.150	NUM
fbem-11066	103	62	%	%	NOUN
fbem-11066	103	63	8.936	8.936	NUM
fbem-11066	103	64	%	%	NOUN
fbem-11066	103	65	10.179	10.179	NUM
fbem-11066	103	66	%	%	NOUN
fbem-11066	103	67	10.739	10.739	NUM
fbem-11066	103	68	%	%	NOUN
fbem-11066	103	69	11.405	11.405	NUM
fbem-11066	103	70	%	%	NOUN
fbem-11066	103	71	11.633	11.633	NUM
fbem-11066	103	72	%	%	NOUN
fbem-11066	103	73	12.218	12.218	NUM
fbem-11066	103	74	%	%	NOUN
fbem-11066	103	75	14.232	14.232	NUM
fbem-11066	103	76	%	%	NOUN
fbem-11066	103	77	0.000	0.000	NUM
fbem-11066	103	78	%	%	NOUN
fbem-11066	103	79	2.000	2.000	NUM
fbem-11066	103	80	%	%	NOUN
fbem-11066	103	81	4.000	4.000	NUM
fbem-11066	103	82	%	%	NOUN
fbem-11066	103	83	6.000	6.000	NUM
fbem-11066	103	84	%	%	NOUN
fbem-11066	103	85	8.000	8.000	NUM
fbem-11066	103	86	%	%	NOUN
fbem-11066	103	87	10.000	10.000	NUM
fbem-11066	103	88	%	%	NOUN
fbem-11066	103	89	12.000	12.000	NUM
fbem-11066	103	90	%	%	NOUN
fbem-11066	103	91	14.000	14.000	NUM
fbem-11066	103	92	%	%	NOUN
fbem-11066	103	93	16.000	16.000	NUM
fbem-11066	103	94	%	%	NOUN
fbem-11066	103	95	q10‐ars‐gfci	q10‐ars‐gfci	NOUN
fbem-11066	104	1	q2‐fis	q2‐fis	INTJ
fbem-11066	104	2	q7‐rde	q7‐rde	INTJ
fbem-11066	104	3	q5‐paw	q5‐paw	INTJ
fbem-11066	104	4	q6‐nfi	q6‐nfi	PROPN
fbem-11066	104	5	q8‐sidiffi	q8‐sidiffi	PRON
fbem-11066	104	6	q3‐nfu	q3‐nfu	NOUN
fbem-11066	104	7	q9‐tse‐f	q9‐tse‐f	VERB
fbem-11066	104	8	q4‐pap	q4‐pap	NOUN
fbem-11066	105	1	q1‐nnelfi	q1‐nnelfi	ADP
fbem-11066	105	2	0	0	NUM
fbem-11066	105	3	0.1	0.1	NUM
fbem-11066	105	4	0.2	0.2	NUM
fbem-11066	105	5	0.3	0.3	NUM
fbem-11066	105	6	0.4	0.4	NUM
fbem-11066	105	7	0.5	0.5	NUM
fbem-11066	105	8	0.6	0.6	NUM
fbem-11066	105	9	0.7	0.7	NUM
fbem-11066	105	10	0.8	0.8	NUM
fbem-11066	105	11	2010	2010	NUM
fbem-11066	105	12	2011	2011	NUM
fbem-11066	105	13	2012	2012	NUM
fbem-11066	105	14	2013	2013	NUM
fbem-11066	105	15	2014	2014	NUM
fbem-11066	105	16	2015	2015	NUM
fbem-11066	105	17	2016	2016	NUM
fbem-11066	105	18	2017	2017	NUM
fbem-11066	105	19	2018	2018	NUM
fbem-11066	105	20	2019	2019	NUM
fbem-11066	105	21	2020	2020	NUM
fbem-11066	105	22	2021	2021	NUM
fbem-11066	105	23	2022	2022	NUM
fbem-11066	105	24	334	334	NUM
fbem-11066	105	25			ADJ
fbem-11066	105	26	https://www.abs.org.sg/benchmark-rates/rates-sibor	https://www.abs.org.sg/benchmark-rates/rates-sibor	NOUN
fbem-11066	105	27	table	table	NOUN
fbem-11066	105	28	3	3	NUM
fbem-11066	105	29	.	.	PUNCT
fbem-11066	105	30	variable	variable	ADJ
fbem-11066	105	31	description	description	NOUN
fbem-11066	105	32	number	number	NOUN
fbem-11066	105	33	economics	economics	PROPN
fbem-11066	105	34	indicator	indicator	PROPN
fbem-11066	105	35	code	code	PROPN
fbem-11066	105	36	variable	variable	ADJ
fbem-11066	105	37	unit	unit	NOUN
fbem-11066	105	38	1	1	NUM
fbem-11066	105	39	measures	measure	NOUN
fbem-11066	105	40	of	of	ADP
fbem-11066	105	41	the	the	DET
fbem-11066	105	42	money	money	NOUN
fbem-11066	105	43	supply	supply	NOUN
fbem-11066	105	44	i1	i1	PROPN
fbem-11066	105	45	m2	m2	PROPN
fbem-11066	105	46	million	million	NUM
fbem-11066	105	47	singapore	singapore	PROPN
fbem-11066	105	48	dollars	dollar	NOUN
fbem-11066	105	49	2	2	NUM
fbem-11066	105	50	singapore	singapore	PROPN
fbem-11066	105	51	inter	inter	PROPN
fbem-11066	105	52	bank	bank	PROPN
fbem-11066	105	53	offered	offer	VERB
fbem-11066	106	1	rate	rate	NOUN
fbem-11066	106	2	i2	i2	PROPN
fbem-11066	106	3	ir	ir	PROPN
fbem-11066	106	4	%	%	NOUN
fbem-11066	106	5	3	3	NUM
fbem-11066	106	6	private	private	ADJ
fbem-11066	106	7	consumption	consumption	NOUN
fbem-11066	106	8	expenditure	expenditure	NOUN
fbem-11066	106	9	c1	c1	PROPN
fbem-11066	106	10	pce	pce	PROPN
fbem-11066	106	11	million	million	NUM
fbem-11066	106	12	dollars	dollar	NOUN
fbem-11066	106	13	4	4	NUM
fbem-11066	106	14	government	government	NOUN
fbem-11066	106	15	consumption	consumption	NOUN
fbem-11066	106	16	expenditure	expenditure	NOUN
fbem-11066	106	17	c2	c2	PROPN
fbem-11066	106	18	gce	gce	PROPN
fbem-11066	106	19	million	million	NUM
fbem-11066	106	20	dollars	dollar	NOUN
fbem-11066	106	21	5	5	NUM
fbem-11066	106	22	cpi	cpi	NOUN
fbem-11066	106	23	c3	c3	PROPN
fbem-11066	106	24	cpi	cpi	PROPN
fbem-11066	106	25	index	index	NOUN
fbem-11066	106	26	6	6	NUM
fbem-11066	106	27	retail	retail	ADJ
fbem-11066	106	28	sales	sale	NOUN
fbem-11066	106	29	index	index	NOUN
fbem-11066	106	30	c4	c4	NOUN
fbem-11066	106	31	rsi	rsi	PROPN
fbem-11066	106	32	index	index	NOUN
fbem-11066	106	33	7	7	NUM
fbem-11066	106	34	gross	gross	ADJ
fbem-11066	106	35	fixed	fix	VERB
fbem-11066	106	36	capital	capital	NOUN
fbem-11066	106	37	formation	formation	NOUN
fbem-11066	106	38	iv1	iv1	PROPN
fbem-11066	106	39	gfcf	gfcf	NOUN
fbem-11066	106	40	million	million	NUM
fbem-11066	106	41	dollars	dollar	NOUN
fbem-11066	106	42	8	8	NUM
fbem-11066	106	43	manufactured	manufacture	VERB
fbem-11066	106	44	products	product	NOUN
fbem-11066	106	45	price	price	NOUN
fbem-11066	106	46	index	index	NOUN
fbem-11066	106	47	iv2	iv2	PROPN
fbem-11066	106	48	mppi	mppi	PROPN
fbem-11066	106	49	index	index	NOUN
fbem-11066	106	50	9	9	NUM
fbem-11066	106	51	gdp	gdp	NOUN
fbem-11066	106	52	year	year	NOUN
fbem-11066	106	53	on	on	ADP
fbem-11066	106	54	year	year	NOUN
fbem-11066	106	55	growth	growth	NOUN
fbem-11066	106	56	rate	rate	NOUN
fbem-11066	106	57	y1	y1	NOUN
fbem-11066	106	58	gdp_growth	gdp_growth	NOUN
fbem-11066	106	59	%	%	NOUN
fbem-11066	106	60	10	10	NUM
fbem-11066	106	61	fintech	fintech	NOUN
fbem-11066	106	62	index	index	NOUN
fbem-11066	106	63	score	score	NOUN
fbem-11066	106	64	fintechindex	fintechindex	NOUN
fbem-11066	106	65	score	score	NOUN
fbem-11066	106	66	to	to	PART
fbem-11066	106	67	ensure	ensure	VERB
fbem-11066	106	68	the	the	DET
fbem-11066	106	69	objectivity	objectivity	NOUN
fbem-11066	106	70	and	and	CCONJ
fbem-11066	106	71	scientificity	scientificity	NOUN
fbem-11066	106	72	of	of	ADP
fbem-11066	106	73	the	the	DET
fbem-11066	106	74	empirical	empirical	ADJ
fbem-11066	106	75	results	result	NOUN
fbem-11066	106	76	,	,	PUNCT
fbem-11066	106	77	the	the	DET
fbem-11066	106	78	collected	collect	VERB
fbem-11066	106	79	data	datum	NOUN
fbem-11066	106	80	is	be	AUX
fbem-11066	106	81	processed	process	VERB
fbem-11066	106	82	as	as	SCONJ
fbem-11066	106	83	follows	follow	VERB
fbem-11066	106	84	(	(	PUNCT
fbem-11066	106	85	see	see	VERB
fbem-11066	106	86	table	table	NOUN
fbem-11066	106	87	3	3	NUM
fbem-11066	106	88	):	):	PUNCT
fbem-11066	106	89	the	the	DET
fbem-11066	106	90	gdp	gdp	NOUN
fbem-11066	106	91	deflator	deflator	NOUN
fbem-11066	106	92	of	of	ADP
fbem-11066	106	93	some	some	DET
fbem-11066	106	94	data	datum	NOUN
fbem-11066	106	95	is	be	AUX
fbem-11066	106	96	used	use	VERB
fbem-11066	106	97	to	to	PART
fbem-11066	106	98	eliminate	eliminate	VERB
fbem-11066	106	99	the	the	DET
fbem-11066	106	100	impact	impact	NOUN
fbem-11066	106	101	of	of	ADP
fbem-11066	106	102	price	price	NOUN
fbem-11066	106	103	fluctuations	fluctuation	NOUN
fbem-11066	106	104	.	.	PUNCT
fbem-11066	107	1	since	since	SCONJ
fbem-11066	107	2	the	the	DET
fbem-11066	107	3	logarithmic	logarithmic	ADJ
fbem-11066	107	4	processing	processing	NOUN
fbem-11066	107	5	of	of	ADP
fbem-11066	107	6	data	datum	NOUN
fbem-11066	107	7	is	be	AUX
fbem-11066	107	8	conducive	conducive	ADJ
fbem-11066	107	9	to	to	ADP
fbem-11066	107	10	better	well	ADV
fbem-11066	107	11	discovering	discover	VERB
fbem-11066	107	12	the	the	DET
fbem-11066	107	13	relationship	relationship	NOUN
fbem-11066	107	14	between	between	ADP
fbem-11066	107	15	data	datum	NOUN
fbem-11066	107	16	,	,	PUNCT
fbem-11066	107	17	this	this	DET
fbem-11066	107	18	study	study	NOUN
fbem-11066	107	19	will	will	AUX
fbem-11066	107	20	conduct	conduct	VERB
fbem-11066	107	21	logarithmic	logarithmic	ADJ
fbem-11066	107	22	processing	processing	NOUN
fbem-11066	107	23	of	of	ADP
fbem-11066	107	24	index	index	NOUN
fbem-11066	107	25	data	datum	NOUN
fbem-11066	107	26	to	to	PART
fbem-11066	107	27	eliminate	eliminate	VERB
fbem-11066	107	28	the	the	DET
fbem-11066	107	29	interference	interference	NOUN
fbem-11066	107	30	of	of	ADP
fbem-11066	107	31	homoscedasticity	homoscedasticity	NOUN
fbem-11066	107	32	and	and	CCONJ
fbem-11066	107	33	heteroscedasticity	heteroscedasticity	NOUN
fbem-11066	107	34	.	.	PUNCT
fbem-11066	108	1	3.5.4	3.5.4	NUM
fbem-11066	108	2	.	.	PUNCT
fbem-11066	108	3	descriptive	descriptive	ADJ
fbem-11066	108	4	statistics	statistic	NOUN
fbem-11066	108	5	this	this	DET
fbem-11066	108	6	study	study	NOUN
fbem-11066	108	7	will	will	AUX
fbem-11066	108	8	conduct	conduct	VERB
fbem-11066	108	9	statistical	statistical	ADJ
fbem-11066	108	10	analysis	analysis	NOUN
fbem-11066	108	11	on	on	ADP
fbem-11066	108	12	the	the	DET
fbem-11066	108	13	data	datum	NOUN
fbem-11066	108	14	of	of	ADP
fbem-11066	108	15	all	all	DET
fbem-11066	108	16	indicators	indicator	NOUN
fbem-11066	108	17	,	,	PUNCT
fbem-11066	108	18	and	and	CCONJ
fbem-11066	108	19	measure	measure	VERB
fbem-11066	108	20	the	the	DET
fbem-11066	108	21	mean	mean	ADJ
fbem-11066	108	22	,	,	PUNCT
fbem-11066	108	23	median	median	ADJ
fbem-11066	108	24	,	,	PUNCT
fbem-11066	108	25	maximum	maximum	ADJ
fbem-11066	108	26	,	,	PUNCT
fbem-11066	108	27	minimum	minimum	ADJ
fbem-11066	108	28	,	,	PUNCT
fbem-11066	108	29	skewness	skewness	NOUN
fbem-11066	108	30	,	,	PUNCT
fbem-11066	108	31	and	and	CCONJ
fbem-11066	108	32	kurtosis	kurtosis	NOUN
fbem-11066	108	33	.	.	PUNCT
fbem-11066	109	1	the	the	DET
fbem-11066	109	2	results	result	NOUN
fbem-11066	109	3	obtained	obtain	VERB
fbem-11066	109	4	are	be	AUX
fbem-11066	109	5	shown	show	VERB
fbem-11066	109	6	as	as	ADP
fbem-11066	109	7	table	table	NOUN
fbem-11066	109	8	4	4	NUM
fbem-11066	109	9	.	.	PUNCT
fbem-11066	109	10	table	table	NOUN
fbem-11066	109	11	4	4	NUM
fbem-11066	109	12	.	.	PUNCT
fbem-11066	109	13	descriptive	descriptive	ADJ
fbem-11066	109	14	statistics	statistic	NOUN
fbem-11066	109	15	variable	variable	ADJ
fbem-11066	109	16	sample	sample	NOUN
fbem-11066	109	17	size	size	NOUN
fbem-11066	109	18	mean	mean	VERB
fbem-11066	109	19	median	median	ADJ
fbem-11066	109	20	maximum	maximum	ADJ
fbem-11066	109	21	minimum	minimum	ADJ
fbem-11066	109	22	kurtosis	kurtosis	NOUN
fbem-11066	109	23	skewness	skewness	NOUN
fbem-11066	109	24	lnfintechindex	lnfintechindex	NOUN
fbem-11066	109	25	52	52	NUM
fbem-11066	109	26	0.305	0.305	NUM
fbem-11066	109	27	0.338	0.338	NUM
fbem-11066	109	28	0.515	0.515	NUM
fbem-11066	109	29	0.028	0.028	NUM
fbem-11066	109	30	-0.934	-0.934	PUNCT
fbem-11066	109	31	-0.406	-0.406	ADJ
fbem-11066	109	32	lnm2	lnm2	PROPN
fbem-11066	109	33	52	52	NUM
fbem-11066	109	34	13.233	13.233	NUM
fbem-11066	109	35	13.199	13.199	NUM
fbem-11066	109	36	13.541	13.541	NUM
fbem-11066	109	37	12.983	12.983	NUM
fbem-11066	109	38	-1.081	-1.081	NUM
fbem-11066	109	39	0.349	0.349	NUM
fbem-11066	109	40	lnir	lnir	NOUN
fbem-11066	109	41	52	52	NUM
fbem-11066	109	42	0.521	0.521	NUM
fbem-11066	109	43	0.345	0.345	NUM
fbem-11066	109	44	1.545	1.545	NUM
fbem-11066	109	45	0.223	0.223	NUM
fbem-11066	109	46	0.814	0.814	NUM
fbem-11066	109	47	1.172	1.172	NUM
fbem-11066	109	48	lnpce	lnpce	PROPN
fbem-11066	109	49	52	52	NUM
fbem-11066	109	50	10.565	10.565	NUM
fbem-11066	109	51	10.586	10.586	NUM
fbem-11066	109	52	10.834	10.834	NUM
fbem-11066	109	53	10.275	10.275	NUM
fbem-11066	109	54	-0.579	-0.579	X
fbem-11066	109	55	-0.366	-0.366	NUM
fbem-11066	109	56	lngce	lngce	NOUN
fbem-11066	109	57	52	52	NUM
fbem-11066	109	58	9.306	9.306	NUM
fbem-11066	109	59	9.328	9.328	NUM
fbem-11066	109	60	9.901	9.901	NUM
fbem-11066	109	61	8.626	8.626	NUM
fbem-11066	109	62	-0.279	-0.279	NUM
fbem-11066	109	63	-0.296	-0.296	PUNCT
fbem-11066	109	64	lncpi	lncpi	NOUN
fbem-11066	109	65	52	52	NUM
fbem-11066	109	66	4.598	4.598	NUM
fbem-11066	109	67	4.607	4.607	NUM
fbem-11066	109	68	4.716	4.716	NUM
fbem-11066	109	69	4.465	4.465	NUM
fbem-11066	109	70	1.747	1.747	NUM
fbem-11066	109	71	-0.625	-0.625	NOUN
fbem-11066	109	72	lnrsi	lnrsi	NOUN
fbem-11066	109	73	52	52	NUM
fbem-11066	109	74	4.555	4.555	NUM
fbem-11066	109	75	4.566	4.566	NUM
fbem-11066	109	76	4.698	4.698	NUM
fbem-11066	109	77	4.049	4.049	NUM
fbem-11066	109	78	19.933	19.933	NUM
fbem-11066	109	79	-3.594	-3.594	NOUN
fbem-11066	109	80	lngfcf	lngfcf	ADJ
fbem-11066	109	81	52	52	NUM
fbem-11066	109	82	10.209	10.209	NUM
fbem-11066	109	83	10.241	10.241	NUM
fbem-11066	109	84	10.449	10.449	NUM
fbem-11066	109	85	9.908	9.908	NUM
fbem-11066	109	86	-0.32	-0.32	VERB
fbem-11066	109	87	-0.704	-0.704	NOUN
fbem-11066	109	88	lnmppi	lnmppi	NOUN
fbem-11066	109	89	52	52	NUM
fbem-11066	109	90	4.64	4.64	NUM
fbem-11066	109	91	4.617	4.617	NUM
fbem-11066	109	92	4.79	4.79	NUM
fbem-11066	109	93	4.49	4.49	NUM
fbem-11066	109	94	-1.364	-1.364	NOUN
fbem-11066	109	95	0.018	0.018	NUM
fbem-11066	109	96	lngdp_growth	lngdp_growth	NOUN
fbem-11066	109	97	52	52	NUM
fbem-11066	109	98	0.064	0.064	NUM
fbem-11066	109	99	0.06	0.06	NUM
fbem-11066	109	100	0.259	0.259	NUM
fbem-11066	109	101	-0.159	-0.159	NUM
fbem-11066	109	102	2.694	2.694	NUM
fbem-11066	109	103	-0.028	-0.028	NUM
fbem-11066	109	104	3.5.5	3.5.5	NUM
fbem-11066	109	105	.	.	PUNCT
fbem-11066	110	1	empirical	empirical	ADJ
fbem-11066	110	2	testing	testing	NOUN
fbem-11066	110	3	based	base	VERB
fbem-11066	110	4	on	on	ADP
fbem-11066	110	5	var	var	PROPN
fbem-11066	110	6	model	model	NOUN
fbem-11066	110	7	3.5.5.1	3.5.5.1	NUM
fbem-11066	110	8	stationarity	stationarity	NOUN
fbem-11066	110	9	test	test	NOUN
fbem-11066	110	10	the	the	DET
fbem-11066	110	11	stationarity	stationarity	NOUN
fbem-11066	110	12	test	test	NOUN
fbem-11066	110	13	,	,	PUNCT
fbem-11066	110	14	adf	adf	NOUN
fbem-11066	110	15	test	test	NOUN
fbem-11066	110	16	and	and	CCONJ
fbem-11066	110	17	root	root	NOUN
fbem-11066	110	18	of	of	ADP
fbem-11066	110	19	unity	unity	NOUN
fbem-11066	110	20	test	test	NOUN
fbem-11066	110	21	of	of	ADP
fbem-11066	110	22	time	time	NOUN
fbem-11066	110	23	series	series	PROPN
fbem-11066	110	24	data	datum	NOUN
fbem-11066	110	25	are	be	AUX
fbem-11066	110	26	the	the	DET
fbem-11066	110	27	preconditions	precondition	NOUN
fbem-11066	110	28	for	for	ADP
fbem-11066	110	29	establishing	establish	VERB
fbem-11066	110	30	var	var	NOUN
fbem-11066	110	31	model	model	NOUN
fbem-11066	110	32	(	(	PUNCT
fbem-11066	110	33	li	li	PROPN
fbem-11066	110	34	et	et	PROPN
fbem-11066	110	35	al	al	PROPN
fbem-11066	110	36	.	.	PROPN
fbem-11066	110	37	,2022	,2022	PROPN
fbem-11066	110	38	)	)	PUNCT
fbem-11066	110	39	.	.	PUNCT
fbem-11066	111	1	the	the	DET
fbem-11066	111	2	test	test	NOUN
fbem-11066	111	3	results	result	NOUN
fbem-11066	111	4	are	be	AUX
fbem-11066	111	5	shown	show	VERB
fbem-11066	111	6	as	as	ADP
fbem-11066	111	7	table	table	NOUN
fbem-11066	111	8	5	5	NUM
fbem-11066	111	9	.	.	PUNCT
fbem-11066	112	1	the	the	DET
fbem-11066	112	2	results	result	NOUN
fbem-11066	112	3	indicate	indicate	VERB
fbem-11066	112	4	that	that	SCONJ
fbem-11066	112	5	lnrsi	lnrsi	NOUN
fbem-11066	112	6	and	and	CCONJ
fbem-11066	112	7	lngdp	lngdp	NOUN
fbem-11066	112	8	_	_	PRON
fbem-11066	112	9	the	the	DET
fbem-11066	112	10	original	original	ADJ
fbem-11066	112	11	sequence	sequence	NOUN
fbem-11066	112	12	of	of	ADP
fbem-11066	112	13	growth	growth	NOUN
fbem-11066	112	14	is	be	AUX
fbem-11066	112	15	stationary	stationary	ADJ
fbem-11066	112	16	,	,	PUNCT
fbem-11066	112	17	while	while	SCONJ
fbem-11066	112	18	the	the	DET
fbem-11066	112	19	first	first	ADJ
fbem-11066	112	20	-	-	PUNCT
fbem-11066	112	21	order	order	NOUN
fbem-11066	112	22	differential	differential	ADJ
fbem-11066	112	23	sequence	sequence	NOUN
fbem-11066	112	24	of	of	ADP
fbem-11066	112	25	fintechindex	fintechindex	NOUN
fbem-11066	112	26	,	,	PUNCT
fbem-11066	112	27	lnm2	lnm2	PROPN
fbem-11066	112	28	,	,	PUNCT
fbem-11066	112	29	lnir	lnir	NOUN
fbem-11066	112	30	,	,	PUNCT
fbem-11066	112	31	lnpce	lnpce	ADJ
fbem-11066	112	32	,	,	PUNCT
fbem-11066	112	33	lngce	lngce	PROPN
fbem-11066	112	34	,	,	PUNCT
fbem-11066	112	35	lngfcf	lngfcf	ADJ
fbem-11066	112	36	,	,	PUNCT
fbem-11066	112	37	lnmppi	lnmppi	PROPN
fbem-11066	112	38	is	be	AUX
fbem-11066	112	39	stationary	stationary	ADJ
fbem-11066	112	40	,	,	PUNCT
fbem-11066	112	41	and	and	CCONJ
fbem-11066	112	42	the	the	DET
fbem-11066	112	43	secondorder	secondorder	ADJ
fbem-11066	112	44	differential	differential	NOUN
fbem-11066	112	45	sequence	sequence	NOUN
fbem-11066	112	46	of	of	ADP
fbem-11066	112	47	lncpi	lncpi	NOUN
fbem-11066	112	48	is	be	AUX
fbem-11066	112	49	stationary	stationary	ADJ
fbem-11066	112	50	.	.	PUNCT
fbem-11066	112	51	table	table	NOUN
fbem-11066	112	52	5	5	NUM
fbem-11066	112	53	.	.	PUNCT
fbem-11066	112	54	stationary	stationary	ADJ
fbem-11066	112	55	test	test	NOUN
fbem-11066	112	56	original	original	ADJ
fbem-11066	112	57	sequence	sequence	NOUN
fbem-11066	112	58	first	first	ADJ
fbem-11066	112	59	order	order	NOUN
fbem-11066	112	60	difference	difference	NOUN
fbem-11066	112	61	second	second	ADJ
fbem-11066	112	62	order	order	NOUN
fbem-11066	112	63	difference	difference	NOUN
fbem-11066	112	64	adf	adf	PROPN
fbem-11066	112	65	t	t	PROPN
fbem-11066	112	66	p	p	PROPN
fbem-11066	112	67	aic	aic	PROPN
fbem-11066	112	68	result	result	VERB
fbem-11066	112	69	t	t	PROPN
fbem-11066	112	70	p	p	X
fbem-11066	112	71	aic	aic	PROPN
fbem-11066	112	72	result	result	VERB
fbem-11066	112	73	t	t	PROPN
fbem-11066	112	74	p	p	X
fbem-11066	112	75	aic	aic	PROPN
fbem-11066	112	76	result	result	VERB
fbem-11066	112	77	lnrsi	lnrsi	ADJ
fbem-11066	112	78	-4.767	-4.767	NOUN
fbem-11066	112	79	0.000	0.000	NUM
fbem-11066	112	80	*	*	PUNCT
fbem-11066	112	81	*	*	PUNCT
fbem-11066	112	82	*	*	PUNCT
fbem-11066	112	83	-73.348	-73.348	PROPN
fbem-11066	112	84	stationary	stationary	PROPN
fbem-11066	112	85	lngdp_growth	lngdp_growth	PROPN
fbem-11066	112	86	-3.348	-3.348	NUM
fbem-11066	112	87	0.013	0.013	NUM
fbem-11066	112	88	*	*	PUNCT
fbem-11066	112	89	*	*	X
fbem-11066	112	90	149.446	149.446	NUM
fbem-11066	112	91	stationary	stationary	ADJ
fbem-11066	112	92	lnfintechindex	lnfintechindex	NOUN
fbem-11066	112	93	-1.339	-1.339	PUNCT
fbem-11066	112	94	0.611	0.611	NUM
fbem-11066	112	95	140.883	140.883	NUM
fbem-11066	112	96	-7.390	-7.390	NOUN
fbem-11066	112	97	0.000	0.000	NUM
fbem-11066	112	98	*	*	PUNCT
fbem-11066	112	99	*	*	PUNCT
fbem-11066	112	100	*	*	PUNCT
fbem-11066	112	101	133.323	133.323	NUM
fbem-11066	112	102	stationary	stationary	ADJ
fbem-11066	112	103	lnm2	lnm2	PROPN
fbem-11066	112	104	1.060	1.060	NUM
fbem-11066	112	105	0.995	0.995	NUM
fbem-11066	112	106	228.055	228.055	NUM
fbem-11066	112	107	-3.596	-3.596	PUNCT
fbem-11066	112	108	0.006	0.006	NUM
fbem-11066	112	109	*	*	PUNCT
fbem-11066	112	110	*	*	PUNCT
fbem-11066	112	111	*	*	PUNCT
fbem-11066	112	112	224.035	224.035	NUM
fbem-11066	112	113	stationary	stationary	ADJ
fbem-11066	112	114	lnir	lnir	NOUN
fbem-11066	112	115	-2.046	-2.046	NUM
fbem-11066	112	116	0.267	0.267	NUM
fbem-11066	112	117	-58.93	-58.93	NUM
fbem-11066	112	118	-3.651	-3.651	NOUN
fbem-11066	112	119	0.005	0.005	NUM
fbem-11066	112	120	*	*	PUNCT
fbem-11066	112	121	*	*	PUNCT
fbem-11066	112	122	*	*	PUNCT
fbem-11066	112	123	-56.097	-56.097	PROPN
fbem-11066	112	124	stationary	stationary	ADJ
fbem-11066	112	125	lnpce	lnpce	ADJ
fbem-11066	112	126	-1.764	-1.764	NOUN
fbem-11066	112	127	0.399	0.399	NUM
fbem-11066	112	128	101.566	101.566	NUM
fbem-11066	112	129	9.013	9.013	NUM
fbem-11066	112	130	0.000	0.000	NUM
fbem-11066	112	131	*	*	PUNCT
fbem-11066	112	132	*	*	PUNCT
fbem-11066	112	133	*	*	PUNCT
fbem-11066	112	134	-96.405	-96.405	PRON
fbem-11066	112	135	stationary	stationary	ADJ
fbem-11066	112	136	lngce	lngce	NOUN
fbem-11066	112	137	-0.413	-0.413	ADP
fbem-11066	112	138	0.908	0.908	NUM
fbem-11066	112	139	133.194	133.194	NUM
fbem-11066	112	140	-5.027	-5.027	NUM
fbem-11066	112	141	0.000	0.000	NUM
fbem-11066	112	142	*	*	PUNCT
fbem-11066	112	143	*	*	PUNCT
fbem-11066	112	144	*	*	PUNCT
fbem-11066	112	145	125.748	125.748	NUM
fbem-11066	112	146	stationary	stationary	ADJ
fbem-11066	112	147	lngfcf	lngfcf	ADJ
fbem-11066	112	148	-2.349	-2.349	PUNCT
fbem-11066	112	149	0.157	0.157	NUM
fbem-11066	112	150	-90.33	-90.33	PUNCT
fbem-11066	112	151	-5.747	-5.747	PUNCT
fbem-11066	113	1	0.000	0.000	NUM
fbem-11066	113	2	*	*	PUNCT
fbem-11066	113	3	*	*	PUNCT
fbem-11066	113	4	*	*	PUNCT
fbem-11066	113	5	-81.232	-81.232	PROPN
fbem-11066	113	6	stationary	stationary	ADJ
fbem-11066	113	7	lnmppi	lnmppi	NOUN
fbem-11066	113	8	-1.734	-1.734	PUNCT
fbem-11066	113	9	0.414	0.414	NUM
fbem-11066	113	10	177.425	177.425	NUM
fbem-11066	113	11	-3.680	-3.680	NOUN
fbem-11066	113	12	0.004	0.004	NUM
fbem-11066	113	13	*	*	PUNCT
fbem-11066	113	14	*	*	PUNCT
fbem-11066	113	15	*	*	PUNCT
fbem-11066	113	16	172.047	172.047	NUM
fbem-11066	113	17	stationary	stationary	ADJ
fbem-11066	113	18	lncpi	lncpi	NOUN
fbem-11066	113	19	-1.413	-1.413	NUM
fbem-11066	113	20	0.576	0.576	NUM
fbem-11066	113	21	300.093	300.093	NUM
fbem-11066	113	22	-1.958	-1.958	NOUN
fbem-11066	113	23	0.305	0.305	NUM
fbem-11066	114	1	289.914	289.914	NUM
fbem-11066	114	2	7.637	7.637	NUM
fbem-11066	114	3	0.000	0.000	NUM
fbem-11066	114	4	*	*	PUNCT
fbem-11066	114	5	*	*	PUNCT
fbem-11066	114	6	*	*	PUNCT
fbem-11066	114	7	299.898	299.898	NUM
fbem-11066	114	8	stationary	stationary	NOUN
fbem-11066	114	9	3.5.5.2	3.5.5.2	NUM
fbem-11066	114	10	testing	test	VERB
fbem-11066	114	11	the	the	DET
fbem-11066	114	12	impact	impact	NOUN
fbem-11066	114	13	of	of	ADP
fbem-11066	114	14	fintech	fintech	NOUN
fbem-11066	114	15	on	on	ADP
fbem-11066	114	16	the	the	DET
fbem-11066	114	17	interest	interest	NOUN
fbem-11066	114	18	rate	rate	NOUN
fbem-11066	114	19	market	market	NOUN
fbem-11066	114	20	1	1	NUM
fbem-11066	114	21	)	)	PUNCT
fbem-11066	114	22	determination	determination	NOUN
fbem-11066	114	23	of	of	ADP
fbem-11066	114	24	lag	lag	ADJ
fbem-11066	114	25	order	order	NOUN
fbem-11066	114	26	the	the	DET
fbem-11066	114	27	optimal	optimal	ADJ
fbem-11066	114	28	lag	lag	NOUN
fbem-11066	114	29	order	order	NOUN
fbem-11066	114	30	is	be	AUX
fbem-11066	114	31	determined	determine	VERB
fbem-11066	114	32	based	base	VERB
fbem-11066	114	33	on	on	ADP
fbem-11066	114	34	the	the	DET
fbem-11066	114	35	optimal	optimal	ADJ
fbem-11066	114	36	lag	lag	NOUN
fbem-11066	114	37	criterion	criterion	NOUN
fbem-11066	114	38	(	(	PUNCT
fbem-11066	114	39	aic	aic	PROPN
fbem-11066	114	40	,	,	PUNCT
fbem-11066	114	41	sc	sc	PROPN
fbem-11066	114	42	,	,	PUNCT
fbem-11066	114	43	lr	lr	NOUN
fbem-11066	114	44	)	)	PUNCT
fbem-11066	114	45	,	,	PUNCT
fbem-11066	114	46	and	and	CCONJ
fbem-11066	114	47	is	be	AUX
fbem-11066	114	48	generally	generally	ADV
fbem-11066	114	49	determined	determine	VERB
fbem-11066	114	50	based	base	VERB
fbem-11066	114	51	on	on	ADP
fbem-11066	114	52	the	the	DET
fbem-11066	114	53	principle	principle	NOUN
fbem-11066	114	54	of	of	ADP
fbem-11066	114	55	minimizing	minimize	VERB
fbem-11066	114	56	aic	aic	PROPN
fbem-11066	114	57	and	and	CCONJ
fbem-11066	114	58	sc	sc	PROPN
fbem-11066	114	59	values	value	NOUN
fbem-11066	114	60	.	.	PUNCT
fbem-11066	115	1	according	accord	VERB
fbem-11066	115	2	to	to	ADP
fbem-11066	115	3	table	table	NOUN
fbem-11066	115	4	6	6	NUM
fbem-11066	115	5	,	,	PUNCT
fbem-11066	115	6	the	the	DET
fbem-11066	115	7	optimal	optimal	ADJ
fbem-11066	115	8	lag	lag	NOUN
fbem-11066	115	9	order	order	NOUN
fbem-11066	115	10	is	be	AUX
fbem-11066	115	11	11	11	NUM
fbem-11066	115	12	orders	order	NOUN
fbem-11066	115	13	,	,	PUNCT
fbem-11066	115	14	but	but	CCONJ
fbem-11066	115	15	due	due	ADP
fbem-11066	115	16	to	to	ADP
fbem-11066	115	17	a	a	DET
fbem-11066	115	18	sample	sample	NOUN
fbem-11066	115	19	size	size	NOUN
fbem-11066	115	20	of	of	ADP
fbem-11066	115	21	52	52	NUM
fbem-11066	115	22	,	,	PUNCT
fbem-11066	115	23	an	an	DET
fbem-11066	115	24	excessive	excessive	ADJ
fbem-11066	115	25	lag	lag	NOUN
fbem-11066	115	26	order	order	NOUN
fbem-11066	115	27	can	can	AUX
fbem-11066	115	28	lead	lead	VERB
fbem-11066	115	29	to	to	ADP
fbem-11066	115	30	335	335	NUM
fbem-11066	115	31	a	a	DET
fbem-11066	115	32	sharp	sharp	ADJ
fbem-11066	115	33	decrease	decrease	NOUN
fbem-11066	115	34	in	in	ADP
fbem-11066	115	35	sample	sample	NOUN
fbem-11066	115	36	size	size	NOUN
fbem-11066	115	37	,	,	PUNCT
fbem-11066	115	38	which	which	PRON
fbem-11066	115	39	is	be	AUX
fbem-11066	115	40	not	not	PART
fbem-11066	115	41	conducive	conducive	ADJ
fbem-11066	115	42	to	to	ADP
fbem-11066	115	43	model	model	NOUN
fbem-11066	115	44	calculation	calculation	NOUN
fbem-11066	115	45	.	.	PUNCT
fbem-11066	116	1	therefore	therefore	ADV
fbem-11066	116	2	,	,	PUNCT
fbem-11066	116	3	this	this	DET
fbem-11066	116	4	article	article	NOUN
fbem-11066	116	5	chooses	choose	VERB
fbem-11066	116	6	the	the	DET
fbem-11066	116	7	second	second	ADJ
fbem-11066	116	8	best	good	ADJ
fbem-11066	116	9	lag	lag	NOUN
fbem-11066	116	10	order	order	NOUN
fbem-11066	116	11	,	,	PUNCT
fbem-11066	116	12	which	which	PRON
fbem-11066	116	13	is	be	AUX
fbem-11066	116	14	1	1	NUM
fbem-11066	116	15	order	order	NOUN
fbem-11066	116	16	.	.	PUNCT
fbem-11066	117	1	with	with	ADP
fbem-11066	117	2	the	the	DET
fbem-11066	117	3	results	result	NOUN
fbem-11066	117	4	of	of	ADP
fbem-11066	117	5	stationarity	stationarity	NOUN
fbem-11066	117	6	test	test	NOUN
fbem-11066	117	7	and	and	CCONJ
fbem-11066	117	8	lag	lag	NOUN
fbem-11066	117	9	order	order	NOUN
fbem-11066	117	10	,	,	PUNCT
fbem-11066	117	11	perform	perform	VERB
fbem-11066	117	12	differential	differential	ADJ
fbem-11066	117	13	treatment	treatment	NOUN
fbem-11066	117	14	on	on	ADP
fbem-11066	117	15	the	the	DET
fbem-11066	117	16	corresponding	correspond	VERB
fbem-11066	117	17	order	order	NOUN
fbem-11066	117	18	of	of	ADP
fbem-11066	117	19	variables	variable	NOUN
fbem-11066	117	20	lnfintechindex	lnfintechindex	NOUN
fbem-11066	117	21	,	,	PUNCT
fbem-11066	117	22	lnm2	lnm2	PROPN
fbem-11066	117	23	,	,	PUNCT
fbem-11066	117	24	and	and	CCONJ
fbem-11066	117	25	lnir	lnir	NOUN
fbem-11066	117	26	.	.	PUNCT
fbem-11066	117	27	table	table	NOUN
fbem-11066	117	28	6	6	NUM
fbem-11066	117	29	.	.	PUNCT
fbem-11066	117	30	determination	determination	NOUN
fbem-11066	117	31	of	of	ADP
fbem-11066	117	32	lag	lag	NOUN
fbem-11066	117	33	order	order	NOUN
fbem-11066	117	34	lag	lag	NOUN
fbem-11066	117	35	order	order	NOUN
fbem-11066	117	36	logl	logl	NOUN
fbem-11066	117	37	aic	aic	PROPN
fbem-11066	117	38	sc	sc	PROPN
fbem-11066	117	39	hq	hq	PROPN
fbem-11066	117	40	fpe	fpe	PROPN
fbem-11066	117	41	0	0	NUM
fbem-11066	118	1	245.357	245.357	NUM
fbem-11066	118	2	-18.208	-18.208	NOUN
fbem-11066	118	3	-18.093	-18.093	PROPN
fbem-11066	118	4	-18.164	-18.164	NOUN
fbem-11066	118	5	0	0	NUM
fbem-11066	118	6	1	1	NUM
fbem-11066	118	7	257.286	257.286	NUM
fbem-11066	118	8	-18.525	-18.525	NUM
fbem-11066	118	9	-18.062	-18.062	ADP
fbem-11066	118	10	-18.35	-18.35	SYM
fbem-11066	118	11	0	0	NUM
fbem-11066	118	12	2	2	NUM
fbem-11066	118	13	257.332	257.332	NUM
fbem-11066	118	14	-18.361	-18.361	NOUN
fbem-11066	118	15	-17.542	-17.542	PUNCT
fbem-11066	119	1	-18.051	-18.051	ADP
fbem-11066	119	2	0	0	NUM
fbem-11066	119	3	3	3	NUM
fbem-11066	119	4	256.302	256.302	NUM
fbem-11066	119	5	-18.144	-18.144	SYM
fbem-11066	119	6	-16.963	-16.963	PROPN
fbem-11066	120	1	-17.699	-17.699	NOUN
fbem-11066	120	2	0	0	NUM
fbem-11066	120	3	4	4	NUM
fbem-11066	120	4	253.81	253.81	NUM
fbem-11066	120	5	-17.853	-17.853	PROPN
fbem-11066	120	6	-16.303	-16.303	PUNCT
fbem-11066	121	1	-17.272	-17.272	NOUN
fbem-11066	121	2	0	0	NUM
fbem-11066	122	1	5	5	NUM
fbem-11066	122	2	284.191	284.191	NUM
fbem-11066	122	3	-19.011	-19.011	NOUN
fbem-11066	122	4	-17.084	-17.084	NOUN
fbem-11066	122	5	-18.293	-18.293	NOUN
fbem-11066	122	6	0	0	NUM
fbem-11066	122	7	6	6	NUM
fbem-11066	122	8	283.1	283.1	NUM
fbem-11066	122	9	-18.791	-18.791	PUNCT
fbem-11066	122	10	-16.48	-16.48	PROPN
fbem-11066	122	11	-17.934	-17.934	PROPN
fbem-11066	122	12	0	0	NUM
fbem-11066	122	13	7	7	NUM
fbem-11066	122	14	286.308	286.308	NUM
fbem-11066	122	15	-18.761	-18.761	NUM
fbem-11066	122	16	-16.057	-16.057	PUNCT
fbem-11066	122	17	-17.764	-17.764	ADJ
fbem-11066	122	18	0	0	NUM
fbem-11066	122	19	8	8	NUM
fbem-11066	122	20	298.86	298.86	NUM
fbem-11066	122	21	-19.174	-19.174	PROPN
fbem-11066	122	22	-16.071	-16.071	PROPN
fbem-11066	122	23	-18.036	-18.036	NOUN
fbem-11066	122	24	0	0	NUM
fbem-11066	122	25	9	9	NUM
fbem-11066	122	26	311.146	311.146	NUM
fbem-11066	122	27	-19.594	-19.594	NUM
fbem-11066	122	28	-16.083	-16.083	PUNCT
fbem-11066	123	1	-18.316	-18.316	PROPN
fbem-11066	123	2	0	0	NUM
fbem-11066	124	1	10	10	NUM
fbem-11066	124	2	331.734	331.734	NUM
fbem-11066	124	3	-20.45	-20.45	NUM
fbem-11066	124	4	-16.524	-16.524	PROPN
fbem-11066	124	5	-19.031	-19.031	NOUN
fbem-11066	124	6	0	0	NUM
fbem-11066	124	7	11	11	NUM
fbem-11066	124	8	384.75	384.75	NUM
fbem-11066	124	9	-23.014	-23.014	PROPN
fbem-11066	124	10	*	*	PUNCT
fbem-11066	124	11	-18.663	-18.663	PROPN
fbem-11066	124	12	*	*	PUNCT
fbem-11066	124	13	-21.453	-21.453	PUNCT
fbem-11066	124	14	*	*	NOUN
fbem-11066	124	15	0.0	0.0	NUM
fbem-11066	124	16	*	*	SYM
fbem-11066	124	17	2	2	NUM
fbem-11066	124	18	)	)	PUNCT
fbem-11066	124	19	var	var	NOUN
fbem-11066	124	20	model	model	NOUN
fbem-11066	124	21	estimation	estimation	NOUN
fbem-11066	124	22	lnir=-0.934*lnfintechindex(-1)+0.545*lnm2(1)+0.698*lnir(-1)+0.016	lnir=-0.934*lnfintechindex(-1)+0.545*lnm2(1)+0.698*lnir(-1)+0.016	VERB
fbem-11066	124	23	3	3	NUM
fbem-11066	124	24	)	)	PUNCT
fbem-11066	124	25	root	root	NOUN
fbem-11066	124	26	of	of	ADP
fbem-11066	124	27	unity	unity	NOUN
fbem-11066	124	28	inspection	inspection	NOUN
fbem-11066	124	29	it	it	PRON
fbem-11066	124	30	can	can	AUX
fbem-11066	124	31	be	be	AUX
fbem-11066	124	32	seen	see	VERB
fbem-11066	124	33	from	from	ADP
fbem-11066	124	34	figure	figure	NOUN
fbem-11066	124	35	4	4	NUM
fbem-11066	124	36	that	that	SCONJ
fbem-11066	124	37	the	the	DET
fbem-11066	124	38	non	non	ADJ
fbem-11066	124	39	characteristic	characteristic	ADJ
fbem-11066	124	40	root	root	NOUN
fbem-11066	124	41	is	be	AUX
fbem-11066	124	42	outside	outside	ADP
fbem-11066	124	43	the	the	DET
fbem-11066	124	44	unit	unit	NOUN
fbem-11066	124	45	circle	circle	NOUN
fbem-11066	124	46	,	,	PUNCT
fbem-11066	124	47	and	and	CCONJ
fbem-11066	124	48	the	the	DET
fbem-11066	124	49	regression	regression	NOUN
fbem-11066	124	50	residual	residual	ADJ
fbem-11066	124	51	sequence	sequence	NOUN
fbem-11066	124	52	obtained	obtain	VERB
fbem-11066	124	53	is	be	AUX
fbem-11066	124	54	characterized	characterize	VERB
fbem-11066	124	55	by	by	ADP
fbem-11066	124	56	normal	normal	ADJ
fbem-11066	124	57	distribution	distribution	NOUN
fbem-11066	124	58	,	,	PUNCT
fbem-11066	124	59	no	no	DET
fbem-11066	124	60	heteroscedasticity	heteroscedasticity	NOUN
fbem-11066	124	61	and	and	CCONJ
fbem-11066	124	62	correlation	correlation	NOUN
fbem-11066	124	63	,	,	PUNCT
fbem-11066	124	64	so	so	CCONJ
fbem-11066	124	65	the	the	DET
fbem-11066	124	66	model	model	NOUN
fbem-11066	124	67	established	establish	VERB
fbem-11066	124	68	is	be	AUX
fbem-11066	124	69	stable	stable	ADJ
fbem-11066	124	70	,	,	PUNCT
fbem-11066	124	71	and	and	CCONJ
fbem-11066	124	72	then	then	ADV
fbem-11066	124	73	the	the	DET
fbem-11066	124	74	var	var	NOUN
fbem-11066	124	75	model	model	NOUN
fbem-11066	124	76	can	can	AUX
fbem-11066	124	77	be	be	AUX
fbem-11066	124	78	continued	continue	VERB
fbem-11066	124	79	to	to	PART
fbem-11066	124	80	be	be	AUX
fbem-11066	124	81	established	establish	VERB
fbem-11066	124	82	.	.	PUNCT
fbem-11066	125	1	figure	figure	NOUN
fbem-11066	125	2	4	4	NUM
fbem-11066	125	3	.	.	PUNCT
fbem-11066	126	1	root	root	NOUN
fbem-11066	126	2	of	of	ADP
fbem-11066	126	3	unity	unity	NOUN
fbem-11066	126	4	test	test	NOUN
fbem-11066	126	5	results	result	VERB
fbem-11066	126	6	4	4	NUM
fbem-11066	126	7	)	)	PUNCT
fbem-11066	126	8	granger	granger	NOUN
fbem-11066	126	9	test	test	NOUN
fbem-11066	126	10	since	since	SCONJ
fbem-11066	126	11	the	the	DET
fbem-11066	126	12	root	root	NOUN
fbem-11066	126	13	of	of	ADP
fbem-11066	126	14	unity	unity	NOUN
fbem-11066	126	15	test	test	NOUN
fbem-11066	126	16	variables	variable	NOUN
fbem-11066	126	17	are	be	AUX
fbem-11066	126	18	all	all	PRON
fbem-11066	126	19	stationary	stationary	ADJ
fbem-11066	126	20	variables	variable	NOUN
fbem-11066	126	21	of	of	ADP
fbem-11066	126	22	the	the	DET
fbem-11066	126	23	same	same	ADJ
fbem-11066	126	24	order	order	NOUN
fbem-11066	126	25	,	,	PUNCT
fbem-11066	126	26	granger	granger	PROPN
fbem-11066	126	27	test	test	PROPN
fbem-11066	126	28	is	be	AUX
fbem-11066	126	29	conducted	conduct	VERB
fbem-11066	126	30	.	.	PUNCT
fbem-11066	127	1	table	table	NOUN
fbem-11066	127	2	7	7	NUM
fbem-11066	127	3	shows	show	VERB
fbem-11066	127	4	the	the	DET
fbem-11066	127	5	results	result	NOUN
fbem-11066	127	6	of	of	ADP
fbem-11066	127	7	granger	granger	PROPN
fbem-11066	127	8	test	test	NOUN
fbem-11066	127	9	,	,	PUNCT
fbem-11066	127	10	including	include	VERB
fbem-11066	127	11	paired	pair	VERB
fbem-11066	127	12	samples	sample	NOUN
fbem-11066	127	13	,	,	PUNCT
fbem-11066	127	14	sample	sample	NOUN
fbem-11066	127	15	size	size	NOUN
fbem-11066	127	16	,	,	PUNCT
fbem-11066	127	17	f	f	PROPN
fbem-11066	127	18	statistics	statistic	NOUN
fbem-11066	127	19	,	,	PUNCT
fbem-11066	127	20	and	and	CCONJ
fbem-11066	127	21	significant	significant	ADJ
fbem-11066	127	22	p	p	ADJ
fbem-11066	127	23	values	value	NOUN
fbem-11066	127	24	.	.	PUNCT
fbem-11066	128	1	by	by	ADP
fbem-11066	128	2	analyzing	analyze	VERB
fbem-11066	128	3	the	the	DET
fbem-11066	128	4	significance	significance	NOUN
fbem-11066	128	5	of	of	ADP
fbem-11066	128	6	f	f	PROPN
fbem-11066	128	7	statistics	statistic	NOUN
fbem-11066	128	8	,	,	PUNCT
fbem-11066	128	9	if	if	SCONJ
fbem-11066	128	10	it	it	PRON
fbem-11066	128	11	is	be	AUX
fbem-11066	128	12	significant	significant	ADJ
fbem-11066	128	13	(	(	PUNCT
fbem-11066	128	14	p<0.05	p<0.05	NOUN
fbem-11066	128	15	)	)	PUNCT
fbem-11066	128	16	,	,	PUNCT
fbem-11066	128	17	it	it	PRON
fbem-11066	128	18	indicates	indicate	VERB
fbem-11066	128	19	that	that	SCONJ
fbem-11066	128	20	the	the	DET
fbem-11066	128	21	original	original	ADJ
fbem-11066	128	22	hypothesis	hypothesis	NOUN
fbem-11066	128	23	is	be	AUX
fbem-11066	128	24	rejected	reject	VERB
fbem-11066	128	25	(	(	PUNCT
fbem-11066	128	26	one	one	NUM
fbem-11066	128	27	group	group	NOUN
fbem-11066	128	28	of	of	ADP
fbem-11066	128	29	time	time	NOUN
fbem-11066	128	30	series	series	NOUN
fbem-11066	128	31	is	be	AUX
fbem-11066	128	32	not	not	PART
fbem-11066	128	33	the	the	DET
fbem-11066	128	34	reason	reason	NOUN
fbem-11066	128	35	for	for	ADP
fbem-11066	128	36	the	the	DET
fbem-11066	128	37	other	other	ADJ
fbem-11066	128	38	group	group	NOUN
fbem-11066	128	39	of	of	ADP
fbem-11066	128	40	time	time	NOUN
fbem-11066	128	41	series	series	PROPN
fbem-11066	128	42	)	)	PUNCT
fbem-11066	128	43	,	,	PUNCT
fbem-11066	128	44	that	that	ADV
fbem-11066	128	45	is	is	ADV
fbem-11066	128	46	,	,	PUNCT
fbem-11066	128	47	the	the	DET
fbem-11066	128	48	left	left	ADJ
fbem-11066	128	49	variable	variable	NOUN
fbem-11066	128	50	can	can	AUX
fbem-11066	128	51	cause	cause	VERB
fbem-11066	128	52	the	the	DET
fbem-11066	128	53	change	change	NOUN
fbem-11066	128	54	of	of	ADP
fbem-11066	128	55	the	the	DET
fbem-11066	128	56	right	right	ADJ
fbem-11066	128	57	variable	variable	NOUN
fbem-11066	128	58	,	,	PUNCT
fbem-11066	128	59	with	with	ADP
fbem-11066	128	60	granger	granger	PROPN
fbem-11066	128	61	causality	causality	PROPN
fbem-11066	128	62	,	,	PUNCT
fbem-11066	128	63	otherwise	otherwise	ADV
fbem-11066	128	64	there	there	PRON
fbem-11066	128	65	is	be	VERB
fbem-11066	128	66	no	no	DET
fbem-11066	128	67	granger	granger	NOUN
fbem-11066	128	68	causality	causality	NOUN
fbem-11066	128	69	.	.	PUNCT
fbem-11066	129	1	the	the	DET
fbem-11066	129	2	inspection	inspection	NOUN
fbem-11066	129	3	results	result	NOUN
fbem-11066	129	4	are	be	AUX
fbem-11066	129	5	as	as	SCONJ
fbem-11066	129	6	follows	follow	NOUN
fbem-11066	129	7	:	:	PUNCT
fbem-11066	129	8	based	base	VERB
fbem-11066	129	9	on	on	ADP
fbem-11066	129	10	the	the	DET
fbem-11066	129	11	variables	variable	NOUN
fbem-11066	129	12	lnm2	lnm2	PROPN
fbem-11066	129	13	and	and	CCONJ
fbem-11066	129	14	fintechindex	fintechindex	PROPN
fbem-11066	129	15	,	,	PUNCT
fbem-11066	129	16	the	the	DET
fbem-11066	129	17	significance	significance	NOUN
fbem-11066	129	18	p	p	NOUN
fbem-11066	129	19	-	-	PUNCT
fbem-11066	129	20	value	value	NOUN
fbem-11066	129	21	is	be	AUX
fbem-11066	129	22	0.940	0.940	NUM
fbem-11066	129	23	,	,	PUNCT
fbem-11066	129	24	which	which	PRON
fbem-11066	129	25	does	do	AUX
fbem-11066	129	26	not	not	PART
fbem-11066	129	27	show	show	VERB
fbem-11066	129	28	significance	significance	NOUN
fbem-11066	129	29	and	and	CCONJ
fbem-11066	129	30	can	can	AUX
fbem-11066	129	31	not	not	PART
fbem-11066	129	32	reject	reject	VERB
fbem-11066	129	33	the	the	DET
fbem-11066	129	34	original	original	ADJ
fbem-11066	129	35	hypothesis	hypothesis	NOUN
fbem-11066	129	36	.	.	PUNCT
fbem-11066	130	1	lnm2	lnm2	PROPN
fbem-11066	130	2	can	can	AUX
fbem-11066	130	3	not	not	PART
fbem-11066	130	4	cause	cause	VERB
fbem-11066	130	5	changes	change	NOUN
fbem-11066	130	6	in	in	ADP
fbem-11066	130	7	lnfintechindex	lnfintechindex	NOUN
fbem-11066	130	8	.	.	PUNCT
fbem-11066	131	1	based	base	VERB
fbem-11066	131	2	on	on	ADP
fbem-11066	131	3	the	the	DET
fbem-11066	131	4	variables	variable	NOUN
fbem-11066	131	5	lnfintechindex	lnfintechindex	NOUN
fbem-11066	131	6	and	and	CCONJ
fbem-11066	131	7	lnm2	lnm2	PROPN
fbem-11066	131	8	,	,	PUNCT
fbem-11066	131	9	the	the	DET
fbem-11066	131	10	significance	significance	NOUN
fbem-11066	131	11	p	p	NOUN
fbem-11066	131	12	-	-	PUNCT
fbem-11066	131	13	value	value	NOUN
fbem-11066	131	14	is	be	AUX
fbem-11066	131	15	0.677	0.677	NUM
fbem-11066	131	16	,	,	PUNCT
fbem-11066	131	17	which	which	PRON
fbem-11066	131	18	does	do	AUX
fbem-11066	131	19	not	not	PART
fbem-11066	131	20	show	show	VERB
fbem-11066	131	21	significance	significance	NOUN
fbem-11066	131	22	and	and	CCONJ
fbem-11066	131	23	can	can	AUX
fbem-11066	131	24	not	not	PART
fbem-11066	131	25	reject	reject	VERB
fbem-11066	131	26	the	the	DET
fbem-11066	131	27	original	original	ADJ
fbem-11066	131	28	hypothesis	hypothesis	NOUN
fbem-11066	131	29	.	.	PUNCT
fbem-11066	132	1	lnfintechindex	lnfintechindex	NOUN
fbem-11066	132	2	can	can	AUX
fbem-11066	132	3	not	not	PART
fbem-11066	132	4	cause	cause	VERB
fbem-11066	132	5	a	a	DET
fbem-11066	132	6	change	change	NOUN
fbem-11066	132	7	in	in	ADP
fbem-11066	132	8	lnm2	lnm2	PROPN
fbem-11066	132	9	.	.	PUNCT
fbem-11066	133	1	based	base	VERB
fbem-11066	133	2	on	on	ADP
fbem-11066	133	3	the	the	DET
fbem-11066	133	4	variables	variable	NOUN
fbem-11066	133	5	lnir	lnir	NOUN
fbem-11066	133	6	and	and	CCONJ
fbem-11066	133	7	lnfintechindex	lnfintechindex	NOUN
fbem-11066	133	8	,	,	PUNCT
fbem-11066	133	9	the	the	DET
fbem-11066	133	10	significance	significance	NOUN
fbem-11066	133	11	p	p	NOUN
fbem-11066	133	12	-	-	PUNCT
fbem-11066	133	13	value	value	NOUN
fbem-11066	133	14	is	be	AUX
fbem-11066	133	15	0.776	0.776	NUM
fbem-11066	133	16	,	,	PUNCT
fbem-11066	133	17	which	which	PRON
fbem-11066	133	18	does	do	AUX
fbem-11066	133	19	not	not	PART
fbem-11066	133	20	show	show	VERB
fbem-11066	133	21	significance	significance	NOUN
fbem-11066	133	22	and	and	CCONJ
fbem-11066	133	23	can	can	AUX
fbem-11066	133	24	not	not	PART
fbem-11066	133	25	reject	reject	VERB
fbem-11066	133	26	the	the	DET
fbem-11066	133	27	original	original	ADJ
fbem-11066	133	28	hypothesis	hypothesis	NOUN
fbem-11066	133	29	.	.	PUNCT
fbem-11066	134	1	lnir	lnir	NOUN
fbem-11066	134	2	can	can	AUX
fbem-11066	134	3	not	not	PART
fbem-11066	134	4	cause	cause	VERB
fbem-11066	134	5	changes	change	NOUN
fbem-11066	134	6	in	in	ADP
fbem-11066	134	7	lnfintechindex	lnfintechindex	NOUN
fbem-11066	134	8	.	.	PUNCT
fbem-11066	135	1	based	base	VERB
fbem-11066	135	2	on	on	ADP
fbem-11066	135	3	the	the	DET
fbem-11066	135	4	variables	variable	NOUN
fbem-11066	135	5	lnfintechindex	lnfintechindex	NOUN
fbem-11066	135	6	and	and	CCONJ
fbem-11066	135	7	lnir	lnir	NOUN
fbem-11066	135	8	,	,	PUNCT
fbem-11066	135	9	the	the	DET
fbem-11066	135	10	significance	significance	NOUN
fbem-11066	135	11	p	p	NOUN
fbem-11066	135	12	-	-	PUNCT
fbem-11066	135	13	value	value	NOUN
fbem-11066	135	14	is	be	AUX
fbem-11066	135	15	0.023	0.023	NUM
fbem-11066	135	16	*	*	NOUN
fbem-11066	135	17	*	*	NOUN
fbem-11066	135	18	,	,	PUNCT
fbem-11066	135	19	showing	show	VERB
fbem-11066	135	20	significance	significance	NOUN
fbem-11066	135	21	.	.	PUNCT
fbem-11066	136	1	rejecting	reject	VERB
fbem-11066	136	2	the	the	DET
fbem-11066	136	3	original	original	ADJ
fbem-11066	136	4	hypothesis	hypothesis	NOUN
fbem-11066	136	5	,	,	PUNCT
fbem-11066	136	6	lnfintechindex	lnfintechindex	NOUN
fbem-11066	136	7	can	can	AUX
fbem-11066	136	8	cause	cause	VERB
fbem-11066	136	9	changes	change	NOUN
fbem-11066	136	10	in	in	ADP
fbem-11066	136	11	lnir	lnir	NOUN
fbem-11066	136	12	.	.	PUNCT
fbem-11066	137	1	based	base	VERB
fbem-11066	137	2	on	on	ADP
fbem-11066	137	3	the	the	DET
fbem-11066	137	4	variables	variable	NOUN
fbem-11066	137	5	lnir	lnir	NOUN
fbem-11066	137	6	and	and	CCONJ
fbem-11066	137	7	lnm2	lnm2	PROPN
fbem-11066	137	8	,	,	PUNCT
fbem-11066	137	9	the	the	DET
fbem-11066	137	10	significance	significance	NOUN
fbem-11066	137	11	pvalue	pvalue	NOUN
fbem-11066	137	12	is	be	AUX
fbem-11066	137	13	0.047	0.047	NUM
fbem-11066	137	14	*	*	PUNCT
fbem-11066	137	15	*	*	NOUN
fbem-11066	137	16	,	,	PUNCT
fbem-11066	137	17	showing	show	VERB
fbem-11066	137	18	significance	significance	NOUN
fbem-11066	137	19	.	.	PUNCT
fbem-11066	138	1	rejecting	reject	VERB
fbem-11066	138	2	the	the	DET
fbem-11066	138	3	original	original	ADJ
fbem-11066	138	4	hypothesis	hypothesis	NOUN
fbem-11066	138	5	,	,	PUNCT
fbem-11066	138	6	lnir	lnir	NOUN
fbem-11066	138	7	can	can	AUX
fbem-11066	138	8	cause	cause	VERB
fbem-11066	138	9	changes	change	NOUN
fbem-11066	138	10	in	in	ADP
fbem-11066	138	11	lnm2	lnm2	PROPN
fbem-11066	138	12	.	.	PUNCT
fbem-11066	139	1	based	base	VERB
fbem-11066	139	2	on	on	ADP
fbem-11066	139	3	the	the	DET
fbem-11066	139	4	variables	variable	NOUN
fbem-11066	139	5	lnm2	lnm2	PROPN
fbem-11066	139	6	and	and	CCONJ
fbem-11066	139	7	lnir	lnir	NOUN
fbem-11066	139	8	,	,	PUNCT
fbem-11066	139	9	the	the	DET
fbem-11066	139	10	significance	significance	NOUN
fbem-11066	139	11	p	p	NOUN
fbem-11066	139	12	-	-	PUNCT
fbem-11066	139	13	value	value	NOUN
fbem-11066	139	14	is	be	AUX
fbem-11066	139	15	0.750	0.750	NUM
fbem-11066	139	16	,	,	PUNCT
fbem-11066	139	17	which	which	PRON
fbem-11066	139	18	does	do	AUX
fbem-11066	139	19	not	not	PART
fbem-11066	139	20	show	show	VERB
fbem-11066	139	21	significance	significance	NOUN
fbem-11066	139	22	and	and	CCONJ
fbem-11066	139	23	can	can	AUX
fbem-11066	139	24	not	not	PART
fbem-11066	139	25	reject	reject	VERB
fbem-11066	139	26	the	the	DET
fbem-11066	139	27	original	original	ADJ
fbem-11066	139	28	hypothesis	hypothesis	NOUN
fbem-11066	139	29	.	.	PUNCT
fbem-11066	140	1	lnm2	lnm2	PROPN
fbem-11066	140	2	can	can	AUX
fbem-11066	140	3	not	not	PART
fbem-11066	140	4	cause	cause	VERB
fbem-11066	140	5	changes	change	NOUN
fbem-11066	140	6	in	in	ADP
fbem-11066	140	7	lnir	lnir	NOUN
fbem-11066	140	8	.	.	PUNCT
fbem-11066	141	1	from	from	ADP
fbem-11066	141	2	the	the	DET
fbem-11066	141	3	results	result	NOUN
fbem-11066	141	4	,	,	PUNCT
fbem-11066	141	5	it	it	PRON
fbem-11066	141	6	can	can	AUX
fbem-11066	141	7	be	be	AUX
fbem-11066	141	8	seen	see	VERB
fbem-11066	141	9	that	that	SCONJ
fbem-11066	141	10	lnfintechindex	lnfintechindex	NOUN
fbem-11066	141	11	can	can	AUX
fbem-11066	141	12	cause	cause	VERB
fbem-11066	141	13	changes	change	NOUN
fbem-11066	141	14	in	in	ADP
fbem-11066	141	15	lnir	lnir	NOUN
fbem-11066	141	16	and	and	CCONJ
fbem-11066	141	17	lnm2	lnm2	PROPN
fbem-11066	141	18	,	,	PUNCT
fbem-11066	141	19	indicating	indicate	VERB
fbem-11066	141	20	that	that	SCONJ
fbem-11066	141	21	the	the	DET
fbem-11066	141	22	development	development	NOUN
fbem-11066	141	23	of	of	ADP
fbem-11066	141	24	financial	financial	ADJ
fbem-11066	141	25	technology	technology	NOUN
fbem-11066	141	26	affects	affect	VERB
fbem-11066	141	27	changes	change	NOUN
fbem-11066	141	28	in	in	ADP
fbem-11066	141	29	the	the	DET
fbem-11066	141	30	interest	interest	NOUN
fbem-11066	141	31	rate	rate	NOUN
fbem-11066	141	32	market	market	NOUN
fbem-11066	141	33	.	.	PUNCT
fbem-11066	142	1	table	table	NOUN
fbem-11066	142	2	7	7	NUM
fbem-11066	142	3	.	.	PUNCT
fbem-11066	143	1	granger	granger	PROPN
fbem-11066	143	2	test	test	PROPN
fbem-11066	143	3	paired	pair	VERB
fbem-11066	143	4	sample	sample	NOUN
fbem-11066	143	5	f	f	PROPN
fbem-11066	143	6	p	p	PROPN
fbem-11066	143	7	lnm2	lnm2	PROPN
fbem-11066	143	8	lnfintechindex	lnfintechindex	PROPN
fbem-11066	143	9	0.006	0.006	NUM
fbem-11066	143	10	0.940	0.940	NUM
fbem-11066	143	11	lnfintechindex	lnfintechindex	NOUN
fbem-11066	143	12	lnm2	lnm2	PROPN
fbem-11066	143	13	0.175	0.175	NUM
fbem-11066	143	14	0.677	0.677	NUM
fbem-11066	143	15	lnir	lnir	PROPN
fbem-11066	143	16	lnfintechindex	lnfintechindex	NOUN
fbem-11066	143	17	0.082	0.082	NUM
fbem-11066	143	18	0.776	0.776	NUM
fbem-11066	143	19	lnfintechindex	lnfintechindex	NOUN
fbem-11066	143	20	lnir	lnir	NOUN
fbem-11066	143	21	5.56	5.56	NUM
fbem-11066	143	22	0.023	0.023	NUM
fbem-11066	143	23	*	*	PUNCT
fbem-11066	143	24	*	*	PROPN
fbem-11066	143	25	lnir	lnir	NOUN
fbem-11066	143	26	lnm2	lnm2	PROPN
fbem-11066	143	27	4.159	4.159	NUM
fbem-11066	143	28	0.047	0.047	NUM
fbem-11066	143	29	*	*	PUNCT
fbem-11066	143	30	*	*	PROPN
fbem-11066	143	31	lnm2	lnm2	PROPN
fbem-11066	143	32	lnir	lnir	NOUN
fbem-11066	143	33	0.102	0.102	NUM
fbem-11066	143	34	0.750	0.750	NUM
fbem-11066	143	35	note	note	NOUN
fbem-11066	143	36	:	:	PUNCT
fbem-11066	143	37	*	*	PUNCT
fbem-11066	144	1	*	*	PUNCT
fbem-11066	144	2	*	*	PUNCT
fbem-11066	144	3	,	,	PUNCT
fbem-11066	144	4	*	*	PUNCT
fbem-11066	144	5	*	*	PUNCT
fbem-11066	144	6	,	,	PUNCT
fbem-11066	144	7	*	*	PUNCT
fbem-11066	144	8	represent	represent	VERB
fbem-11066	144	9	significance	significance	NOUN
fbem-11066	144	10	levels	level	NOUN
fbem-11066	144	11	of	of	ADP
fbem-11066	144	12	1	1	NUM
fbem-11066	144	13	%	%	NOUN
fbem-11066	144	14	,	,	PUNCT
fbem-11066	144	15	5	5	NUM
fbem-11066	144	16	%	%	NOUN
fbem-11066	144	17	,	,	PUNCT
fbem-11066	144	18	and	and	CCONJ
fbem-11066	144	19	10	10	NUM
fbem-11066	144	20	%	%	NOUN
fbem-11066	144	21	,	,	PUNCT
fbem-11066	144	22	respectively	respectively	ADV
fbem-11066	144	23	.	.	PUNCT
fbem-11066	145	1	5	5	X
fbem-11066	145	2	)	)	PUNCT
fbem-11066	145	3	impulse	impulse	ADJ
fbem-11066	145	4	response	response	NOUN
fbem-11066	145	5	analysis	analysis	NOUN
fbem-11066	145	6	the	the	DET
fbem-11066	145	7	impulse	impulse	ADJ
fbem-11066	145	8	response	response	NOUN
fbem-11066	145	9	function	function	NOUN
fbem-11066	145	10	measures	measure	VERB
fbem-11066	145	11	the	the	DET
fbem-11066	145	12	impact	impact	NOUN
fbem-11066	145	13	of	of	ADP
fbem-11066	145	14	336	336	NUM
fbem-11066	145	15	financial	financial	ADJ
fbem-11066	145	16	technology	technology	NOUN
fbem-11066	145	17	on	on	ADP
fbem-11066	145	18	the	the	DET
fbem-11066	145	19	financial	financial	ADJ
fbem-11066	145	20	interest	interest	NOUN
fbem-11066	145	21	rate	rate	NOUN
fbem-11066	145	22	market	market	NOUN
fbem-11066	145	23	.	.	PUNCT
fbem-11066	146	1	from	from	ADP
fbem-11066	146	2	figure	figure	NOUN
fbem-11066	146	3	5	5	NUM
fbem-11066	146	4	,	,	PUNCT
fbem-11066	146	5	it	it	PRON
fbem-11066	146	6	can	can	AUX
fbem-11066	146	7	be	be	AUX
fbem-11066	146	8	seen	see	VERB
fbem-11066	146	9	that	that	SCONJ
fbem-11066	146	10	when	when	SCONJ
fbem-11066	146	11	a	a	DET
fbem-11066	146	12	positive	positive	ADJ
fbem-11066	146	13	impact	impact	NOUN
fbem-11066	146	14	of	of	ADP
fbem-11066	146	15	1	1	NUM
fbem-11066	146	16	unit	unit	NOUN
fbem-11066	146	17	is	be	AUX
fbem-11066	146	18	given	give	VERB
fbem-11066	146	19	to	to	ADP
fbem-11066	146	20	the	the	DET
fbem-11066	146	21	financial	financial	ADJ
fbem-11066	146	22	technology	technology	PROPN
fbem-11066	146	23	index	index	NOUN
fbem-11066	146	24	,	,	PUNCT
fbem-11066	146	25	the	the	DET
fbem-11066	146	26	financial	financial	ADJ
fbem-11066	146	27	market	market	NOUN
fbem-11066	146	28	interest	interest	NOUN
fbem-11066	146	29	rate	rate	NOUN
fbem-11066	146	30	will	will	AUX
fbem-11066	146	31	rapidly	rapidly	ADV
fbem-11066	146	32	decrease	decrease	VERB
fbem-11066	146	33	in	in	ADP
fbem-11066	146	34	the	the	DET
fbem-11066	146	35	first	first	ADJ
fbem-11066	146	36	two	two	NUM
fbem-11066	146	37	periods	period	NOUN
fbem-11066	146	38	,	,	PUNCT
fbem-11066	146	39	reach	reach	VERB
fbem-11066	146	40	the	the	DET
fbem-11066	146	41	minimum	minimum	ADJ
fbem-11066	146	42	value	value	NOUN
fbem-11066	146	43	,	,	PUNCT
fbem-11066	146	44	and	and	CCONJ
fbem-11066	146	45	then	then	ADV
fbem-11066	146	46	begin	begin	VERB
fbem-11066	146	47	to	to	PART
fbem-11066	146	48	rise	rise	VERB
fbem-11066	146	49	and	and	CCONJ
fbem-11066	146	50	gradually	gradually	ADV
fbem-11066	146	51	stabilize	stabilize	VERB
fbem-11066	146	52	after	after	ADP
fbem-11066	146	53	a	a	DET
fbem-11066	146	54	pullback	pullback	NOUN
fbem-11066	146	55	.	.	PUNCT
fbem-11066	147	1	when	when	SCONJ
fbem-11066	147	2	there	there	PRON
fbem-11066	147	3	is	be	VERB
fbem-11066	147	4	a	a	DET
fbem-11066	147	5	positive	positive	ADJ
fbem-11066	147	6	impact	impact	NOUN
fbem-11066	147	7	of	of	ADP
fbem-11066	147	8	1	1	NUM
fbem-11066	147	9	unit	unit	NOUN
fbem-11066	147	10	on	on	ADP
fbem-11066	147	11	market	market	NOUN
fbem-11066	147	12	interest	interest	NOUN
fbem-11066	147	13	rates	rate	NOUN
fbem-11066	147	14	,	,	PUNCT
fbem-11066	147	15	the	the	DET
fbem-11066	147	16	fintech	fintech	NOUN
fbem-11066	147	17	index	index	NOUN
fbem-11066	147	18	will	will	AUX
fbem-11066	147	19	also	also	ADV
fbem-11066	147	20	rapidly	rapidly	ADV
fbem-11066	147	21	decline	decline	VERB
fbem-11066	147	22	in	in	ADP
fbem-11066	147	23	the	the	DET
fbem-11066	147	24	first	first	ADJ
fbem-11066	147	25	two	two	NUM
fbem-11066	147	26	periods	period	NOUN
fbem-11066	147	27	,	,	PUNCT
fbem-11066	147	28	then	then	ADV
fbem-11066	147	29	begin	begin	VERB
fbem-11066	147	30	to	to	PART
fbem-11066	147	31	decline	decline	VERB
fbem-11066	147	32	and	and	CCONJ
fbem-11066	147	33	gradually	gradually	ADV
fbem-11066	147	34	stabilize	stabilize	VERB
fbem-11066	147	35	.	.	PUNCT
fbem-11066	148	1	figure	figure	NOUN
fbem-11066	148	2	5	5	NUM
fbem-11066	148	3	.	.	PUNCT
fbem-11066	148	4	analysis	analysis	NOUN
fbem-11066	148	5	of	of	ADP
fbem-11066	148	6	lnfintechindex	lnfintechindex	NOUN
fbem-11066	148	7	and	and	CCONJ
fbem-11066	148	8	lnpce	lnpce	ADJ
fbem-11066	148	9	pulse	pulse	NOUN
fbem-11066	148	10	response	response	NOUN
fbem-11066	148	11	figure	figure	NOUN
fbem-11066	148	12	6	6	NUM
fbem-11066	148	13	.	.	PUNCT
fbem-11066	149	1	analysis	analysis	NOUN
fbem-11066	149	2	of	of	ADP
fbem-11066	149	3	lnfintechindex	lnfintechindex	NOUN
fbem-11066	149	4	and	and	CCONJ
fbem-11066	149	5	lnrsi	lnrsi	NOUN
fbem-11066	149	6	pulse	pulse	NOUN
fbem-11066	149	7	response	response	NOUN
fbem-11066	149	8	3.5.5.3	3.5.5.3	NUM
fbem-11066	149	9	impact	impact	NOUN
fbem-11066	149	10	test	test	NOUN
fbem-11066	149	11	of	of	ADP
fbem-11066	149	12	financial	financial	ADJ
fbem-11066	149	13	technology	technology	NOUN
fbem-11066	149	14	on	on	ADP
fbem-11066	149	15	the	the	DET
fbem-11066	149	16	investment	investment	NOUN
fbem-11066	149	17	market	market	NOUN
fbem-11066	149	18	1	1	NUM
fbem-11066	149	19	)	)	PUNCT
fbem-11066	149	20	determination	determination	NOUN
fbem-11066	149	21	of	of	ADP
fbem-11066	149	22	lag	lag	ADJ
fbem-11066	149	23	order	order	NOUN
fbem-11066	149	24	according	accord	VERB
fbem-11066	149	25	to	to	ADP
fbem-11066	149	26	the	the	DET
fbem-11066	149	27	same	same	ADJ
fbem-11066	149	28	principle	principle	NOUN
fbem-11066	149	29	for	for	ADP
fbem-11066	149	30	determining	determine	VERB
fbem-11066	149	31	the	the	DET
fbem-11066	149	32	lag	lag	NOUN
fbem-11066	149	33	order	order	NOUN
fbem-11066	149	34	,	,	PUNCT
fbem-11066	149	35	it	it	PRON
fbem-11066	149	36	can	can	AUX
fbem-11066	149	37	be	be	AUX
fbem-11066	149	38	seen	see	VERB
fbem-11066	149	39	from	from	ADP
fbem-11066	149	40	table	table	NOUN
fbem-11066	149	41	8	8	NUM
fbem-11066	149	42	that	that	SCONJ
fbem-11066	149	43	the	the	DET
fbem-11066	149	44	optimal	optimal	ADJ
fbem-11066	149	45	lag	lag	NOUN
fbem-11066	149	46	order	order	NOUN
fbem-11066	149	47	is	be	AUX
fbem-11066	149	48	11	11	NUM
fbem-11066	149	49	orders	order	NOUN
fbem-11066	149	50	.	.	PUNCT
fbem-11066	150	1	however	however	ADV
fbem-11066	150	2	,	,	PUNCT
fbem-11066	150	3	due	due	ADP
fbem-11066	150	4	to	to	ADP
fbem-11066	150	5	the	the	DET
fbem-11066	150	6	sample	sample	NOUN
fbem-11066	150	7	size	size	NOUN
fbem-11066	150	8	of	of	ADP
fbem-11066	150	9	52	52	NUM
fbem-11066	150	10	and	and	CCONJ
fbem-11066	150	11	the	the	DET
fbem-11066	150	12	large	large	ADJ
fbem-11066	150	13	lag	lag	NOUN
fbem-11066	150	14	order	order	NOUN
fbem-11066	150	15	,	,	PUNCT
fbem-11066	150	16	it	it	PRON
fbem-11066	150	17	is	be	AUX
fbem-11066	150	18	not	not	PART
fbem-11066	150	19	conducive	conducive	ADJ
fbem-11066	150	20	to	to	ADP
fbem-11066	150	21	model	model	NOUN
fbem-11066	150	22	calculation	calculation	NOUN
fbem-11066	150	23	.	.	PUNCT
fbem-11066	151	1	therefore	therefore	ADV
fbem-11066	151	2	,	,	PUNCT
fbem-11066	151	3	this	this	DET
fbem-11066	151	4	article	article	NOUN
fbem-11066	151	5	chooses	choose	VERB
fbem-11066	151	6	the	the	DET
fbem-11066	151	7	second	second	ADJ
fbem-11066	151	8	best	good	ADJ
fbem-11066	151	9	lag	lag	NOUN
fbem-11066	151	10	order	order	NOUN
fbem-11066	151	11	,	,	PUNCT
fbem-11066	151	12	which	which	PRON
fbem-11066	151	13	is	be	AUX
fbem-11066	151	14	1	1	NUM
fbem-11066	151	15	order	order	NOUN
fbem-11066	151	16	.	.	PUNCT
fbem-11066	152	1	table	table	NOUN
fbem-11066	152	2	8	8	NUM
fbem-11066	152	3	.	.	PUNCT
fbem-11066	153	1	determination	determination	NOUN
fbem-11066	153	2	of	of	ADP
fbem-11066	153	3	lag	lag	NOUN
fbem-11066	153	4	order	order	NOUN
fbem-11066	153	5	lag	lag	NOUN
fbem-11066	153	6	order	order	NOUN
fbem-11066	153	7	logl	logl	NOUN
fbem-11066	153	8	aic	aic	PROPN
fbem-11066	153	9	sc	sc	PROPN
fbem-11066	153	10	hq	hq	PROPN
fbem-11066	153	11	fpe	fpe	PROPN
fbem-11066	153	12	0	0	NUM
fbem-11066	154	1	258.309	258.309	NUM
fbem-11066	154	2	-18.726	-18.726	NUM
fbem-11066	154	3	-18.611	-18.611	PROPN
fbem-11066	154	4	-18.682	-18.682	NOUN
fbem-11066	154	5	0	0	NUM
fbem-11066	154	6	1	1	NUM
fbem-11066	154	7	262.01	262.01	NUM
fbem-11066	154	8	-18.718	-18.718	PUNCT
fbem-11066	154	9	-18.255	-18.255	SYM
fbem-11066	154	10	*	*	PUNCT
fbem-11066	154	11	-18.542	-18.542	NUM
fbem-11066	155	1	0.0	0.0	NUM
fbem-11066	155	2	*	*	SYM
fbem-11066	155	3	2	2	NUM
fbem-11066	155	4	261.549	261.549	NUM
fbem-11066	155	5	-18.537	-18.537	NOUN
fbem-11066	155	6	-17.718	-17.718	PROPN
fbem-11066	155	7	-18.227	-18.227	PROPN
fbem-11066	155	8	0	0	NUM
fbem-11066	155	9	3	3	NUM
fbem-11066	155	10	269.274	269.274	NUM
fbem-11066	155	11	-18.696	-18.696	NOUN
fbem-11066	155	12	-17.515	-17.515	NOUN
fbem-11066	155	13	-18.251	-18.251	PUNCT
fbem-11066	155	14	0	0	NUM
fbem-11066	155	15	4	4	NUM
fbem-11066	155	16	264.618	264.618	NUM
fbem-11066	155	17	-18.323	-18.323	NOUN
fbem-11066	155	18	-16.773	-16.773	NOUN
fbem-11066	155	19	-17.742	-17.742	PROPN
fbem-11066	155	20	0	0	NUM
fbem-11066	155	21	5	5	NUM
fbem-11066	155	22	264.596	264.596	NUM
fbem-11066	155	23	-18.14	-18.14	PUNCT
fbem-11066	155	24	-16.213	-16.213	PUNCT
fbem-11066	155	25	-17.422	-17.422	NOUN
fbem-11066	155	26	0	0	NUM
fbem-11066	155	27	6	6	NUM
fbem-11066	155	28	261.358	261.358	NUM
fbem-11066	155	29	-17.803	-17.803	ADP
fbem-11066	155	30	-15.491	-15.491	PROPN
fbem-11066	155	31	-16.945	-16.945	PROPN
fbem-11066	155	32	0	0	NUM
fbem-11066	155	33	7	7	NUM
fbem-11066	155	34	260.627	260.627	NUM
fbem-11066	155	35	-17.566	-17.566	NOUN
fbem-11066	155	36	-14.863	-14.863	PUNCT
fbem-11066	155	37	-16.569	-16.569	X
fbem-11066	155	38	0	0	NUM
fbem-11066	155	39	8	8	NUM
fbem-11066	155	40	279.271	279.271	NUM
fbem-11066	155	41	-18.241	-18.241	PUNCT
fbem-11066	155	42	-15.138	-15.138	PROPN
fbem-11066	155	43	-17.103	-17.103	PROPN
fbem-11066	155	44	0	0	NUM
fbem-11066	155	45	9	9	NUM
fbem-11066	155	46	300.343	300.343	NUM
fbem-11066	155	47	-19.067	-19.067	PUNCT
fbem-11066	155	48	-15.556	-15.556	PROPN
fbem-11066	155	49	-17.789	-17.789	ADV
fbem-11066	155	50	0	0	NUM
fbem-11066	156	1	10	10	NUM
fbem-11066	156	2	302.317	302.317	NUM
fbem-11066	156	3	-18.979	-18.979	SYM
fbem-11066	156	4	-15.053	-15.053	NOUN
fbem-11066	156	5	-17.56	-17.56	PROPN
fbem-11066	156	6	0	0	NUM
fbem-11066	156	7	11	11	NUM
fbem-11066	156	8	332.236	332.236	NUM
fbem-11066	156	9	-20.321	-20.321	PROPN
fbem-11066	156	10	*	*	PUNCT
fbem-11066	156	11	-15.97	-15.97	PROPN
fbem-11066	156	12	-18.76	-18.76	PROPN
fbem-11066	156	13	*	*	SYM
fbem-11066	156	14	0	0	NUM
fbem-11066	156	15	337	337	NUM
fbem-11066	156	16	2	2	NUM
fbem-11066	156	17	)	)	PUNCT
fbem-11066	156	18	var	var	NOUN
fbem-11066	156	19	model	model	NOUN
fbem-11066	156	20	estimation	estimation	NOUN
fbem-11066	156	21	lngfcf=-0.615*lnfintechindex(-1)-0.283*lngfcf(1)+0.327*lnmppi(-1)+0.018	lngfcf=-0.615*lnfintechindex(-1)-0.283*lngfcf(1)+0.327*lnmppi(-1)+0.018	PROPN
fbem-11066	156	22	lnmppi=-0.198*lnfintechindex(-1)-0.019*lngfcf(1)+0.392*lnmppi(-1)+0.003	lnmppi=-0.198*lnfintechindex(-1)-0.019*lngfcf(1)+0.392*lnmppi(-1)+0.003	VERB
fbem-11066	156	23	3	3	X
fbem-11066	156	24	)	)	PUNCT
fbem-11066	156	25	root	root	NOUN
fbem-11066	156	26	of	of	ADP
fbem-11066	156	27	unity	unity	NOUN
fbem-11066	156	28	inspection	inspection	NOUN
fbem-11066	156	29	it	it	PRON
fbem-11066	156	30	can	can	AUX
fbem-11066	156	31	be	be	AUX
fbem-11066	156	32	seen	see	VERB
fbem-11066	156	33	from	from	ADP
fbem-11066	156	34	figure	figure	NOUN
fbem-11066	156	35	7	7	NUM
fbem-11066	156	36	that	that	SCONJ
fbem-11066	156	37	the	the	DET
fbem-11066	156	38	non	non	ADJ
fbem-11066	156	39	characteristic	characteristic	ADJ
fbem-11066	156	40	root	root	NOUN
fbem-11066	156	41	is	be	AUX
fbem-11066	156	42	outside	outside	ADP
fbem-11066	156	43	the	the	DET
fbem-11066	156	44	unit	unit	NOUN
fbem-11066	156	45	circle	circle	NOUN
fbem-11066	156	46	,	,	PUNCT
fbem-11066	156	47	and	and	CCONJ
fbem-11066	156	48	the	the	DET
fbem-11066	156	49	regression	regression	NOUN
fbem-11066	156	50	residual	residual	ADJ
fbem-11066	156	51	sequence	sequence	NOUN
fbem-11066	156	52	obtained	obtain	VERB
fbem-11066	156	53	is	be	AUX
fbem-11066	156	54	characterized	characterize	VERB
fbem-11066	156	55	by	by	ADP
fbem-11066	156	56	normal	normal	ADJ
fbem-11066	156	57	distribution	distribution	NOUN
fbem-11066	156	58	,	,	PUNCT
fbem-11066	156	59	no	no	DET
fbem-11066	156	60	heteroscedasticity	heteroscedasticity	NOUN
fbem-11066	156	61	and	and	CCONJ
fbem-11066	156	62	correlation	correlation	NOUN
fbem-11066	156	63	.	.	PUNCT
fbem-11066	157	1	therefore	therefore	ADV
fbem-11066	157	2	,	,	PUNCT
fbem-11066	157	3	the	the	DET
fbem-11066	157	4	established	establish	VERB
fbem-11066	157	5	model	model	NOUN
fbem-11066	157	6	is	be	AUX
fbem-11066	157	7	stable	stable	ADJ
fbem-11066	157	8	,	,	PUNCT
fbem-11066	157	9	and	and	CCONJ
fbem-11066	157	10	then	then	ADV
fbem-11066	157	11	the	the	DET
fbem-11066	157	12	var	var	NOUN
fbem-11066	157	13	model	model	NOUN
fbem-11066	157	14	can	can	AUX
fbem-11066	157	15	be	be	AUX
fbem-11066	157	16	further	far	ADV
fbem-11066	157	17	established	establish	VERB
fbem-11066	157	18	.	.	PUNCT
fbem-11066	158	1	figure	figure	NOUN
fbem-11066	158	2	7	7	NUM
fbem-11066	158	3	.	.	PUNCT
fbem-11066	159	1	root	root	NOUN
fbem-11066	159	2	of	of	ADP
fbem-11066	159	3	unity	unity	NOUN
fbem-11066	159	4	test	test	NOUN
fbem-11066	159	5	results	result	VERB
fbem-11066	159	6	4	4	NUM
fbem-11066	159	7	)	)	PUNCT
fbem-11066	159	8	granger	granger	NOUN
fbem-11066	159	9	test	test	NOUN
fbem-11066	159	10	since	since	SCONJ
fbem-11066	159	11	the	the	DET
fbem-11066	159	12	root	root	NOUN
fbem-11066	159	13	of	of	ADP
fbem-11066	159	14	unity	unity	NOUN
fbem-11066	159	15	test	test	NOUN
fbem-11066	159	16	variables	variable	NOUN
fbem-11066	159	17	are	be	AUX
fbem-11066	159	18	all	all	PRON
fbem-11066	159	19	stationary	stationary	ADJ
fbem-11066	159	20	variables	variable	NOUN
fbem-11066	159	21	of	of	ADP
fbem-11066	159	22	the	the	DET
fbem-11066	159	23	same	same	ADJ
fbem-11066	159	24	order	order	NOUN
fbem-11066	159	25	,	,	PUNCT
fbem-11066	159	26	granger	granger	PROPN
fbem-11066	159	27	test	test	NOUN
fbem-11066	159	28	is	be	AUX
fbem-11066	159	29	conducted	conduct	VERB
fbem-11066	159	30	(	(	PUNCT
fbem-11066	159	31	see	see	VERB
fbem-11066	159	32	table	table	NOUN
fbem-11066	159	33	9	9	NUM
fbem-11066	159	34	)	)	PUNCT
fbem-11066	159	35	.	.	PUNCT
fbem-11066	160	1	table	table	NOUN
fbem-11066	160	2	9	9	NUM
fbem-11066	160	3	.	.	PUNCT
fbem-11066	161	1	granger	granger	PROPN
fbem-11066	161	2	test	test	PROPN
fbem-11066	161	3	paired	pair	VERB
fbem-11066	161	4	sample	sample	NOUN
fbem-11066	162	1	f	f	PROPN
fbem-11066	162	2	p	p	PROPN
fbem-11066	162	3	lngfcf	lngfcf	PROPN
fbem-11066	162	4	lnfintechindex	lnfintechindex	NOUN
fbem-11066	162	5	0.091	0.091	NUM
fbem-11066	162	6	0.764	0.764	NUM
fbem-11066	162	7	lnfintechindex	lnfintechindex	NOUN
fbem-11066	162	8	lngfcf	lngfcf	VERB
fbem-11066	162	9	4.652	4.652	NUM
fbem-11066	162	10	0.036	0.036	NUM
fbem-11066	162	11	*	*	PUNCT
fbem-11066	162	12	*	*	PUNCT
fbem-11066	162	13	lnmppi	lnmppi	PROPN
fbem-11066	162	14	lnfintechindex	lnfintechindex	PROPN
fbem-11066	162	15	0.173	0.173	NUM
fbem-11066	162	16	0.679	0.679	NUM
fbem-11066	162	17	lnfintechindex	lnfintechindex	NOUN
fbem-11066	162	18	lnmppi	lnmppi	NOUN
fbem-11066	162	19	4.235	4.235	NUM
fbem-11066	162	20	0.045	0.045	NUM
fbem-11066	162	21	*	*	PUNCT
fbem-11066	162	22	*	*	PUNCT
fbem-11066	162	23	lnmppi	lnmppi	NOUN
fbem-11066	162	24	lngfcf	lngfcf	ADJ
fbem-11066	162	25	0.357	0.357	NUM
fbem-11066	162	26	0.553	0.553	NUM
fbem-11066	162	27	lngfcf	lngfcf	ADJ
fbem-11066	162	28	lnmppi	lnmppi	NOUN
fbem-11066	162	29	0.08	0.08	NUM
fbem-11066	162	30	0.779	0.779	NUM
fbem-11066	162	31	note	note	NOUN
fbem-11066	162	32	:	:	PUNCT
fbem-11066	162	33	*	*	PUNCT
fbem-11066	163	1	*	*	PUNCT
fbem-11066	163	2	*	*	PUNCT
fbem-11066	163	3	,	,	PUNCT
fbem-11066	163	4	*	*	PUNCT
fbem-11066	163	5	*	*	PUNCT
fbem-11066	163	6	,	,	PUNCT
fbem-11066	163	7	*	*	PUNCT
fbem-11066	163	8	represent	represent	VERB
fbem-11066	163	9	significance	significance	NOUN
fbem-11066	163	10	levels	level	NOUN
fbem-11066	163	11	of	of	ADP
fbem-11066	163	12	1	1	NUM
fbem-11066	163	13	%	%	NOUN
fbem-11066	163	14	,	,	PUNCT
fbem-11066	163	15	5	5	NUM
fbem-11066	163	16	%	%	NOUN
fbem-11066	163	17	,	,	PUNCT
fbem-11066	163	18	and	and	CCONJ
fbem-11066	163	19	10	10	NUM
fbem-11066	163	20	%	%	NOUN
fbem-11066	163	21	,	,	PUNCT
fbem-11066	163	22	respectively	respectively	ADV
fbem-11066	163	23	.	.	PUNCT
fbem-11066	164	1	this	this	DET
fbem-11066	164	2	chapter	chapter	NOUN
fbem-11066	164	3	only	only	ADV
fbem-11066	164	4	selects	select	VERB
fbem-11066	164	5	significant	significant	ADJ
fbem-11066	164	6	results	result	NOUN
fbem-11066	164	7	related	relate	VERB
fbem-11066	164	8	to	to	ADP
fbem-11066	164	9	the	the	DET
fbem-11066	164	10	lnfintechindex	lnfintechindex	NOUN
fbem-11066	164	11	variable	variable	NOUN
fbem-11066	164	12	for	for	ADP
fbem-11066	164	13	analysis	analysis	NOUN
fbem-11066	164	14	.	.	PUNCT
fbem-11066	165	1	the	the	DET
fbem-11066	165	2	results	result	NOUN
fbem-11066	165	3	are	be	AUX
fbem-11066	165	4	as	as	SCONJ
fbem-11066	165	5	follows	follow	NOUN
fbem-11066	165	6	:	:	PUNCT
fbem-11066	165	7	based	base	VERB
fbem-11066	165	8	on	on	ADP
fbem-11066	165	9	the	the	DET
fbem-11066	165	10	variables	variable	NOUN
fbem-11066	165	11	lngfcf	lngfcf	ADJ
fbem-11066	165	12	and	and	CCONJ
fbem-11066	165	13	lnfintechindex	lnfintechindex	NOUN
fbem-11066	165	14	,	,	PUNCT
fbem-11066	165	15	the	the	DET
fbem-11066	165	16	significance	significance	NOUN
fbem-11066	165	17	p	p	NOUN
fbem-11066	165	18	-	-	PUNCT
fbem-11066	165	19	value	value	NOUN
fbem-11066	165	20	is	be	AUX
fbem-11066	165	21	0.764	0.764	NUM
fbem-11066	165	22	,	,	PUNCT
fbem-11066	165	23	which	which	PRON
fbem-11066	165	24	does	do	AUX
fbem-11066	165	25	not	not	PART
fbem-11066	165	26	show	show	VERB
fbem-11066	165	27	significance	significance	NOUN
fbem-11066	165	28	and	and	CCONJ
fbem-11066	165	29	can	can	AUX
fbem-11066	165	30	not	not	PART
fbem-11066	165	31	reject	reject	VERB
fbem-11066	165	32	the	the	DET
fbem-11066	165	33	original	original	ADJ
fbem-11066	165	34	hypothesis	hypothesis	NOUN
fbem-11066	165	35	.	.	PUNCT
fbem-11066	166	1	lngfcf	lngfcf	PROPN
fbem-11066	166	2	can	can	AUX
fbem-11066	166	3	not	not	PART
fbem-11066	166	4	cause	cause	VERB
fbem-11066	166	5	changes	change	NOUN
fbem-11066	166	6	in	in	ADP
fbem-11066	166	7	lnfintechindex	lnfintechindex	NOUN
fbem-11066	166	8	.	.	PUNCT
fbem-11066	167	1	based	base	VERB
fbem-11066	167	2	on	on	ADP
fbem-11066	167	3	the	the	DET
fbem-11066	167	4	variables	variable	NOUN
fbem-11066	167	5	lnfintechindex	lnfintechindex	NOUN
fbem-11066	167	6	and	and	CCONJ
fbem-11066	167	7	lngfcf	lngfcf	ADJ
fbem-11066	167	8	,	,	PUNCT
fbem-11066	167	9	the	the	DET
fbem-11066	167	10	significance	significance	NOUN
fbem-11066	167	11	p	p	NOUN
fbem-11066	167	12	-	-	PUNCT
fbem-11066	167	13	value	value	NOUN
fbem-11066	167	14	is	be	AUX
fbem-11066	167	15	0.036	0.036	NUM
fbem-11066	167	16	*	*	PUNCT
fbem-11066	167	17	*	*	PUNCT
fbem-11066	167	18	,	,	PUNCT
fbem-11066	167	19	showing	show	VERB
fbem-11066	167	20	significance	significance	NOUN
fbem-11066	167	21	.	.	PUNCT
fbem-11066	168	1	rejecting	reject	VERB
fbem-11066	168	2	the	the	DET
fbem-11066	168	3	original	original	ADJ
fbem-11066	168	4	hypothesis	hypothesis	NOUN
fbem-11066	168	5	,	,	PUNCT
fbem-11066	168	6	lnfintechindex	lnfintechindex	NOUN
fbem-11066	168	7	can	can	AUX
fbem-11066	168	8	cause	cause	VERB
fbem-11066	168	9	changes	change	NOUN
fbem-11066	168	10	in	in	ADP
fbem-11066	168	11	lngfcf	lngfcf	ADJ
fbem-11066	168	12	.	.	PUNCT
fbem-11066	169	1	based	base	VERB
fbem-11066	169	2	on	on	ADP
fbem-11066	169	3	the	the	DET
fbem-11066	169	4	variables	variable	NOUN
fbem-11066	169	5	lnmppi	lnmppi	NOUN
fbem-11066	169	6	and	and	CCONJ
fbem-11066	169	7	lnfintechindex	lnfintechindex	NOUN
fbem-11066	169	8	,	,	PUNCT
fbem-11066	169	9	the	the	DET
fbem-11066	169	10	significance	significance	NOUN
fbem-11066	169	11	p	p	NOUN
fbem-11066	169	12	-	-	PUNCT
fbem-11066	169	13	value	value	NOUN
fbem-11066	169	14	is	be	AUX
fbem-11066	169	15	0.679	0.679	NUM
fbem-11066	169	16	,	,	PUNCT
fbem-11066	169	17	which	which	PRON
fbem-11066	169	18	does	do	AUX
fbem-11066	169	19	not	not	PART
fbem-11066	169	20	show	show	VERB
fbem-11066	169	21	significance	significance	NOUN
fbem-11066	169	22	and	and	CCONJ
fbem-11066	169	23	can	can	AUX
fbem-11066	169	24	not	not	PART
fbem-11066	169	25	reject	reject	VERB
fbem-11066	169	26	the	the	DET
fbem-11066	169	27	original	original	ADJ
fbem-11066	169	28	hypothesis	hypothesis	NOUN
fbem-11066	169	29	.	.	PUNCT
fbem-11066	170	1	lnmppi	lnmppi	PROPN
fbem-11066	170	2	can	can	AUX
fbem-11066	170	3	not	not	PART
fbem-11066	170	4	cause	cause	VERB
fbem-11066	170	5	changes	change	NOUN
fbem-11066	170	6	in	in	ADP
fbem-11066	170	7	lnfintechindex	lnfintechindex	NOUN
fbem-11066	170	8	.	.	PUNCT
fbem-11066	171	1	based	base	VERB
fbem-11066	171	2	on	on	ADP
fbem-11066	171	3	the	the	DET
fbem-11066	171	4	variables	variable	NOUN
fbem-11066	171	5	lnfintechindex	lnfintechindex	NOUN
fbem-11066	171	6	and	and	CCONJ
fbem-11066	171	7	lnmppi	lnmppi	PROPN
fbem-11066	171	8	,	,	PUNCT
fbem-11066	171	9	the	the	DET
fbem-11066	171	10	significance	significance	NOUN
fbem-11066	171	11	p	p	NOUN
fbem-11066	171	12	-	-	PUNCT
fbem-11066	171	13	value	value	NOUN
fbem-11066	171	14	is	be	AUX
fbem-11066	171	15	0.045	0.045	NUM
fbem-11066	171	16	*	*	PUNCT
fbem-11066	171	17	*	*	NOUN
fbem-11066	171	18	,	,	PUNCT
fbem-11066	171	19	showing	show	VERB
fbem-11066	171	20	significance	significance	NOUN
fbem-11066	171	21	.	.	PUNCT
fbem-11066	172	1	rejecting	reject	VERB
fbem-11066	172	2	the	the	DET
fbem-11066	172	3	original	original	ADJ
fbem-11066	172	4	hypothesis	hypothesis	NOUN
fbem-11066	172	5	,	,	PUNCT
fbem-11066	172	6	lnfintechindex	lnfintechindex	NOUN
fbem-11066	172	7	can	can	AUX
fbem-11066	172	8	cause	cause	VERB
fbem-11066	172	9	changes	change	NOUN
fbem-11066	172	10	in	in	ADP
fbem-11066	172	11	lnmppi	lnmppi	NOUN
fbem-11066	172	12	.	.	PUNCT
fbem-11066	173	1	it	it	PRON
fbem-11066	173	2	can	can	AUX
fbem-11066	173	3	be	be	AUX
fbem-11066	173	4	seen	see	VERB
fbem-11066	173	5	that	that	SCONJ
fbem-11066	173	6	lnfintechindex	lnfintechindex	NOUN
fbem-11066	173	7	can	can	AUX
fbem-11066	173	8	cause	cause	VERB
fbem-11066	173	9	changes	change	NOUN
fbem-11066	173	10	in	in	ADP
fbem-11066	173	11	lngfcf	lngfcf	ADJ
fbem-11066	173	12	and	and	CCONJ
fbem-11066	173	13	lnmppi	lnmppi	NOUN
fbem-11066	173	14	,	,	PUNCT
fbem-11066	173	15	indicating	indicate	VERB
fbem-11066	173	16	that	that	SCONJ
fbem-11066	173	17	the	the	DET
fbem-11066	173	18	development	development	NOUN
fbem-11066	173	19	level	level	NOUN
fbem-11066	173	20	of	of	ADP
fbem-11066	173	21	fintech	fintech	NOUN
fbem-11066	173	22	affects	affect	VERB
fbem-11066	173	23	the	the	DET
fbem-11066	173	24	total	total	ADJ
fbem-11066	173	25	fixed	fix	VERB
fbem-11066	173	26	capital	capital	NOUN
fbem-11066	173	27	formation	formation	NOUN
fbem-11066	173	28	and	and	CCONJ
fbem-11066	173	29	changes	change	NOUN
fbem-11066	173	30	in	in	ADP
fbem-11066	173	31	the	the	DET
fbem-11066	173	32	price	price	NOUN
fbem-11066	173	33	index	index	NOUN
fbem-11066	173	34	of	of	ADP
fbem-11066	173	35	manufactured	manufacture	VERB
fbem-11066	173	36	goods	good	NOUN
fbem-11066	173	37	,	,	PUNCT
fbem-11066	173	38	thereby	thereby	ADV
fbem-11066	173	39	affecting	affect	VERB
fbem-11066	173	40	the	the	DET
fbem-11066	173	41	level	level	NOUN
fbem-11066	173	42	of	of	ADP
fbem-11066	173	43	social	social	ADJ
fbem-11066	173	44	investment	investment	NOUN
fbem-11066	173	45	in	in	ADP
fbem-11066	173	46	singapore	singapore	PROPN
fbem-11066	173	47	.	.	PUNCT
fbem-11066	174	1	5	5	X
fbem-11066	174	2	)	)	PUNCT
fbem-11066	174	3	impulse	impulse	ADJ
fbem-11066	174	4	response	response	NOUN
fbem-11066	174	5	analysis	analysis	NOUN
fbem-11066	174	6	the	the	DET
fbem-11066	174	7	impulse	impulse	ADJ
fbem-11066	174	8	response	response	NOUN
fbem-11066	174	9	function	function	NOUN
fbem-11066	174	10	measures	measure	VERB
fbem-11066	174	11	the	the	DET
fbem-11066	174	12	impact	impact	NOUN
fbem-11066	174	13	of	of	ADP
fbem-11066	174	14	fintech	fintech	NOUN
fbem-11066	174	15	on	on	ADP
fbem-11066	174	16	the	the	DET
fbem-11066	174	17	investment	investment	NOUN
fbem-11066	174	18	market	market	NOUN
fbem-11066	174	19	.	.	PUNCT
fbem-11066	175	1	from	from	ADP
fbem-11066	175	2	figures	figure	NOUN
fbem-11066	175	3	8	8	NUM
fbem-11066	175	4	and	and	CCONJ
fbem-11066	175	5	9	9	NUM
fbem-11066	175	6	,	,	PUNCT
fbem-11066	175	7	it	it	PRON
fbem-11066	175	8	can	can	AUX
fbem-11066	175	9	be	be	AUX
fbem-11066	175	10	seen	see	VERB
fbem-11066	175	11	that	that	SCONJ
fbem-11066	175	12	when	when	SCONJ
fbem-11066	175	13	a	a	DET
fbem-11066	175	14	positive	positive	ADJ
fbem-11066	175	15	impact	impact	NOUN
fbem-11066	175	16	is	be	AUX
fbem-11066	175	17	given	give	VERB
fbem-11066	175	18	to	to	ADP
fbem-11066	175	19	the	the	DET
fbem-11066	175	20	fintech	fintech	NOUN
fbem-11066	175	21	index	index	NOUN
fbem-11066	175	22	of	of	ADP
fbem-11066	175	23	1	1	NUM
fbem-11066	175	24	unit	unit	NOUN
fbem-11066	175	25	,	,	PUNCT
fbem-11066	175	26	the	the	DET
fbem-11066	175	27	total	total	ADJ
fbem-11066	175	28	fixed	fix	VERB
fbem-11066	175	29	capital	capital	NOUN
fbem-11066	175	30	formation	formation	NOUN
fbem-11066	175	31	is	be	AUX
fbem-11066	175	32	affected	affect	VERB
fbem-11066	175	33	by	by	ADP
fbem-11066	175	34	this	this	PRON
fbem-11066	175	35	.	.	PUNCT
fbem-11066	176	1	the	the	DET
fbem-11066	176	2	finished	finished	ADJ
fbem-11066	176	3	product	product	NOUN
fbem-11066	176	4	price	price	NOUN
fbem-11066	176	5	index	index	NOUN
fbem-11066	176	6	will	will	AUX
fbem-11066	176	7	rapidly	rapidly	ADV
fbem-11066	176	8	decline	decline	VERB
fbem-11066	176	9	in	in	ADP
fbem-11066	176	10	the	the	DET
fbem-11066	176	11	first	first	ADJ
fbem-11066	176	12	two	two	NUM
fbem-11066	176	13	periods	period	NOUN
fbem-11066	176	14	,	,	PUNCT
fbem-11066	176	15	and	and	CCONJ
fbem-11066	176	16	then	then	ADV
fbem-11066	176	17	begin	begin	VERB
fbem-11066	176	18	to	to	PART
fbem-11066	176	19	rise	rise	VERB
fbem-11066	176	20	and	and	CCONJ
fbem-11066	176	21	have	have	VERB
fbem-11066	176	22	a	a	DET
fbem-11066	176	23	positive	positive	ADJ
fbem-11066	176	24	impact	impact	NOUN
fbem-11066	176	25	.	.	PUNCT
fbem-11066	177	1	after	after	ADP
fbem-11066	177	2	reaching	reach	VERB
fbem-11066	177	3	its	its	PRON
fbem-11066	177	4	peak	peak	NOUN
fbem-11066	177	5	in	in	ADP
fbem-11066	177	6	the	the	DET
fbem-11066	177	7	third	third	ADJ
fbem-11066	177	8	period	period	NOUN
fbem-11066	177	9	,	,	PUNCT
fbem-11066	177	10	it	it	PRON
fbem-11066	177	11	will	will	AUX
fbem-11066	177	12	begin	begin	VERB
fbem-11066	177	13	to	to	PART
fbem-11066	177	14	decline	decline	VERB
fbem-11066	177	15	and	and	CCONJ
fbem-11066	177	16	stabilize	stabilize	VERB
fbem-11066	177	17	in	in	ADP
fbem-11066	177	18	the	the	DET
fbem-11066	177	19	sixth	sixth	ADJ
fbem-11066	177	20	period	period	NOUN
fbem-11066	177	21	.	.	PUNCT
fbem-11066	178	1	when	when	SCONJ
fbem-11066	178	2	the	the	DET
fbem-11066	178	3	total	total	ADJ
fbem-11066	178	4	fixed	fix	VERB
fbem-11066	178	5	capital	capital	NOUN
fbem-11066	178	6	formation	formation	NOUN
fbem-11066	178	7	is	be	AUX
fbem-11066	178	8	given	give	VERB
fbem-11066	178	9	a	a	DET
fbem-11066	178	10	positive	positive	ADJ
fbem-11066	178	11	impact	impact	NOUN
fbem-11066	178	12	of	of	ADP
fbem-11066	178	13	1	1	NUM
fbem-11066	178	14	unit	unit	NOUN
fbem-11066	178	15	on	on	ADP
fbem-11066	178	16	the	the	DET
fbem-11066	178	17	manufactured	manufacture	VERB
fbem-11066	178	18	goods	good	NOUN
fbem-11066	178	19	price	price	NOUN
fbem-11066	178	20	index	index	NOUN
fbem-11066	178	21	,	,	PUNCT
fbem-11066	178	22	the	the	DET
fbem-11066	178	23	fluctuation	fluctuation	NOUN
fbem-11066	178	24	of	of	ADP
fbem-11066	178	25	the	the	DET
fbem-11066	178	26	fintech	fintech	NOUN
fbem-11066	178	27	index	index	NOUN
fbem-11066	178	28	is	be	AUX
fbem-11066	178	29	significant	significant	ADJ
fbem-11066	178	30	in	in	ADP
fbem-11066	178	31	the	the	DET
fbem-11066	178	32	early	early	ADJ
fbem-11066	178	33	stage	stage	NOUN
fbem-11066	178	34	,	,	PUNCT
fbem-11066	178	35	but	but	CCONJ
fbem-11066	178	36	tends	tend	VERB
fbem-11066	178	37	to	to	PART
fbem-11066	178	38	stabilize	stabilize	VERB
fbem-11066	178	39	after	after	ADP
fbem-11066	178	40	the	the	DET
fbem-11066	178	41	fifth	fifth	ADJ
fbem-11066	178	42	period	period	NOUN
fbem-11066	178	43	.	.	PUNCT
fbem-11066	179	1	338	338	NUM
fbem-11066	179	2	figure	figure	NOUN
fbem-11066	179	3	8	8	NUM
fbem-11066	179	4	.	.	PUNCT
fbem-11066	179	5	analysis	analysis	NOUN
fbem-11066	179	6	of	of	ADP
fbem-11066	179	7	pulse	pulse	ADJ
fbem-11066	179	8	response	response	NOUN
fbem-11066	179	9	of	of	ADP
fbem-11066	179	10	lnfintechindex	lnfintechindex	NOUN
fbem-11066	179	11	and	and	CCONJ
fbem-11066	179	12	lngfcf	lngfcf	ADJ
fbem-11066	179	13	figure	figure	NOUN
fbem-11066	179	14	9	9	NUM
fbem-11066	179	15	.	.	PUNCT
fbem-11066	180	1	analysis	analysis	NOUN
fbem-11066	180	2	of	of	ADP
fbem-11066	180	3	lnfintechindex	lnfintechindex	NOUN
fbem-11066	180	4	and	and	CCONJ
fbem-11066	180	5	lnmppi	lnmppi	NOUN
fbem-11066	180	6	pulse	pulse	NOUN
fbem-11066	180	7	response	response	NOUN
fbem-11066	180	8	from	from	ADP
fbem-11066	180	9	the	the	DET
fbem-11066	180	10	pulse	pulse	NOUN
fbem-11066	180	11	response	response	NOUN
fbem-11066	180	12	results	result	NOUN
fbem-11066	180	13	,	,	PUNCT
fbem-11066	180	14	it	it	PRON
fbem-11066	180	15	can	can	AUX
fbem-11066	180	16	be	be	AUX
fbem-11066	180	17	seen	see	VERB
fbem-11066	180	18	that	that	SCONJ
fbem-11066	180	19	fintech	fintech	NOUN
fbem-11066	180	20	has	have	VERB
fbem-11066	180	21	a	a	DET
fbem-11066	180	22	significant	significant	ADJ
fbem-11066	180	23	impact	impact	NOUN
fbem-11066	180	24	on	on	ADP
fbem-11066	180	25	the	the	DET
fbem-11066	180	26	entire	entire	ADJ
fbem-11066	180	27	singapore	singapore	PROPN
fbem-11066	180	28	investment	investment	NOUN
fbem-11066	180	29	market	market	NOUN
fbem-11066	180	30	.	.	PUNCT
fbem-11066	181	1	this	this	PRON
fbem-11066	181	2	is	be	AUX
fbem-11066	181	3	related	relate	VERB
fbem-11066	181	4	to	to	ADP
fbem-11066	181	5	the	the	DET
fbem-11066	181	6	large	large	ADJ
fbem-11066	181	7	scale	scale	NOUN
fbem-11066	181	8	and	and	CCONJ
fbem-11066	181	9	active	active	ADJ
fbem-11066	181	10	investment	investment	NOUN
fbem-11066	181	11	market	market	NOUN
fbem-11066	181	12	of	of	ADP
fbem-11066	181	13	singapore	singapore	PROPN
fbem-11066	181	14	,	,	PUNCT
fbem-11066	181	15	which	which	PRON
fbem-11066	181	16	,	,	PUNCT
fbem-11066	181	17	as	as	ADP
fbem-11066	181	18	a	a	DET
fbem-11066	181	19	global	global	ADJ
fbem-11066	181	20	financial	financial	ADJ
fbem-11066	181	21	center	center	NOUN
fbem-11066	181	22	,	,	PUNCT
fbem-11066	181	23	is	be	AUX
fbem-11066	181	24	enthusiastic	enthusiastic	ADJ
fbem-11066	181	25	about	about	ADP
fbem-11066	181	26	investing	invest	VERB
fbem-11066	181	27	in	in	ADP
fbem-11066	181	28	the	the	DET
fbem-11066	181	29	fintech	fintech	NOUN
fbem-11066	181	30	industry	industry	NOUN
fbem-11066	181	31	.	.	PUNCT
fbem-11066	182	1	4	4	X
fbem-11066	182	2	.	.	NOUN
fbem-11066	182	3	results	result	VERB
fbem-11066	182	4	4.1	4.1	NUM
fbem-11066	182	5	.	.	PUNCT
fbem-11066	182	6	variance	variance	NOUN
fbem-11066	182	7	estimation	estimation	NOUN
fbem-11066	182	8	based	base	VERB
fbem-11066	182	9	on	on	ADP
fbem-11066	182	10	the	the	DET
fbem-11066	182	11	interest	interest	NOUN
fbem-11066	182	12	rate	rate	NOUN
fbem-11066	182	13	transmission	transmission	NOUN
fbem-11066	182	14	mechanism	mechanism	NOUN
fbem-11066	182	15	,	,	PUNCT
fbem-11066	182	16	conduct	conduct	VERB
fbem-11066	182	17	a	a	DET
fbem-11066	182	18	simple	simple	ADJ
fbem-11066	182	19	regression	regression	NOUN
fbem-11066	182	20	equation	equation	NOUN
fbem-11066	182	21	analysis	analysis	NOUN
fbem-11066	182	22	on	on	ADP
fbem-11066	182	23	the	the	DET
fbem-11066	182	24	impact	impact	NOUN
fbem-11066	182	25	of	of	ADP
fbem-11066	182	26	the	the	DET
fbem-11066	182	27	consumer	consumer	NOUN
fbem-11066	182	28	market	market	NOUN
fbem-11066	182	29	and	and	CCONJ
fbem-11066	182	30	investment	investment	NOUN
fbem-11066	182	31	market	market	NOUN
fbem-11066	182	32	on	on	ADP
fbem-11066	182	33	economic	economic	ADJ
fbem-11066	182	34	growth	growth	NOUN
fbem-11066	182	35	to	to	PART
fbem-11066	182	36	verify	verify	VERB
fbem-11066	182	37	whether	whether	SCONJ
fbem-11066	182	38	it	it	PRON
fbem-11066	182	39	meets	meet	VERB
fbem-11066	182	40	the	the	DET
fbem-11066	182	41	research	research	NOUN
fbem-11066	182	42	hypothesis	hypothesis	NOUN
fbem-11066	182	43	.	.	PUNCT
fbem-11066	183	1	table	table	NOUN
fbem-11066	183	2	10	10	NUM
fbem-11066	183	3	.	.	PUNCT
fbem-11066	184	1	variance	variance	NOUN
fbem-11066	184	2	estimation	estimation	NOUN
fbem-11066	184	3	linear	linear	PROPN
fbem-11066	184	4	regression	regression	NOUN
fbem-11066	184	5	analysis	analysis	NOUN
fbem-11066	184	6	results	result	VERB
fbem-11066	184	7	n=50	n=50	ADJ
fbem-11066	184	8	non	non	X
fbem-11066	184	9	standardized	standardized	ADJ
fbem-11066	184	10	coefficient	coefficient	NOUN
fbem-11066	184	11	standardized	standardize	VERB
fbem-11066	184	12	coefficient	coefficient	NOUN
fbem-11066	184	13	t	t	PROPN
fbem-11066	184	14	p	p	PROPN
fbem-11066	184	15	vif	vif	PROPN
fbem-11066	184	16	r²	r²	NOUN
fbem-11066	184	17	adjust	adjust	VERB
fbem-11066	185	1	r²	r²	PROPN
fbem-11066	185	2	f	f	PROPN
fbem-11066	185	3	b	b	PROPN
fbem-11066	185	4	standard	standard	ADJ
fbem-11066	185	5	error	error	NOUN
fbem-11066	185	6	beta	beta	NOUN
fbem-11066	185	7	constant	constant	ADJ
fbem-11066	185	8	-1.102	-1.102	ADP
fbem-11066	185	9	0.531	0.531	NUM
fbem-11066	185	10	-2.076	-2.076	NUM
fbem-11066	185	11	0.044	0.044	NUM
fbem-11066	185	12	*	*	PUNCT
fbem-11066	185	13	*	*	PROPN
fbem-11066	185	14	0.4	0.4	NUM
fbem-11066	185	15	01	01	NUM
fbem-11066	185	16	0.348	0.348	NUM
fbem-11066	185	17	f=7.546	f=7.546	X
fbem-11066	185	18	p=0.000	p=0.000	X
fbem-11066	185	19	*	*	PUNCT
fbem-11066	186	1	*	*	PUNCT
fbem-11066	186	2	*	*	PUNCT
fbem-11066	186	3	lnpce	lnpce	PROPN
fbem-11066	186	4	-0.154	-0.154	NUM
fbem-11066	186	5	0.207	0.207	NUM
fbem-11066	186	6	-0.151	-0.151	NOUN
fbem-11066	186	7	-0.742	-0.742	PUNCT
fbem-11066	186	8	0.462	0.462	NUM
fbem-11066	186	9	3.111	3.111	NUM
fbem-11066	186	10	lnrsi	lnrsi	NOUN
fbem-11066	186	11	0.255	0.255	NUM
fbem-11066	186	12	0.117	0.117	NUM
fbem-11066	186	13	0.357	0.357	NUM
fbem-11066	186	14	2.184	2.184	NUM
fbem-11066	186	15	0.034	0.034	NUM
fbem-11066	186	16	*	*	PUNCT
fbem-11066	186	17	*	*	PROPN
fbem-11066	186	18	2.004	2.004	NUM
fbem-11066	186	19	lngfcf	lngfcf	ADJ
fbem-11066	186	20	0.036	0.036	NUM
fbem-11066	186	21	0.134	0.134	NUM
fbem-11066	186	22	0.044	0.044	NUM
fbem-11066	186	23	0.269	0.269	NUM
fbem-11066	186	24	0.789	0.789	NUM
fbem-11066	186	25	1.993	1.993	NUM
fbem-11066	186	26	lnmppi	lnmppi	NOUN
fbem-11066	186	27	1.196	1.196	NUM
fbem-11066	186	28	0.273	0.273	NUM
fbem-11066	186	29	0.529	0.529	NUM
fbem-11066	186	30	4.385	4.385	NUM
fbem-11066	186	31	0.000	0.000	NUM
fbem-11066	186	32	*	*	PUNCT
fbem-11066	186	33	*	*	PUNCT
fbem-11066	186	34	*	*	PUNCT
fbem-11066	186	35	1.095	1.095	NUM
fbem-11066	186	36	dependent	dependent	ADJ
fbem-11066	186	37	variable：lngdp_growth	variable：lngdp_growth	NOUN
fbem-11066	186	38	note	note	VERB
fbem-11066	186	39	:	:	PUNCT
fbem-11066	186	40	*	*	PUNCT
fbem-11066	187	1	*	*	PUNCT
fbem-11066	187	2	*	*	PUNCT
fbem-11066	187	3	,	,	PUNCT
fbem-11066	187	4	*	*	PUNCT
fbem-11066	187	5	*	*	PUNCT
fbem-11066	187	6	,	,	PUNCT
fbem-11066	187	7	*	*	PUNCT
fbem-11066	187	8	represent	represent	VERB
fbem-11066	187	9	significance	significance	NOUN
fbem-11066	187	10	levels	level	NOUN
fbem-11066	187	11	of	of	ADP
fbem-11066	187	12	1	1	NUM
fbem-11066	187	13	%	%	NOUN
fbem-11066	187	14	,	,	PUNCT
fbem-11066	187	15	5	5	NUM
fbem-11066	187	16	%	%	NOUN
fbem-11066	187	17	,	,	PUNCT
fbem-11066	187	18	and	and	CCONJ
fbem-11066	187	19	10	10	NUM
fbem-11066	187	20	%	%	NOUN
fbem-11066	187	21	,	,	PUNCT
fbem-11066	187	22	respectively	respectively	ADV
fbem-11066	187	23	.	.	PUNCT
fbem-11066	188	1	the	the	DET
fbem-11066	188	2	results	result	NOUN
fbem-11066	188	3	in	in	ADP
fbem-11066	188	4	table	table	NOUN
fbem-11066	188	5	10	10	NUM
fbem-11066	188	6	show	show	VERB
fbem-11066	188	7	that	that	SCONJ
fbem-11066	188	8	the	the	DET
fbem-11066	188	9	analysis	analysis	NOUN
fbem-11066	188	10	of	of	ADP
fbem-11066	188	11	the	the	DET
fbem-11066	188	12	results	result	NOUN
fbem-11066	188	13	of	of	ADP
fbem-11066	188	14	the	the	DET
fbem-11066	188	15	f	f	NOUN
fbem-11066	188	16	-	-	PUNCT
fbem-11066	188	17	test	test	NOUN
fbem-11066	188	18	can	can	AUX
fbem-11066	188	19	get	get	VERB
fbem-11066	188	20	that	that	SCONJ
fbem-11066	188	21	the	the	DET
fbem-11066	188	22	significance	significance	NOUN
fbem-11066	188	23	p	p	NOUN
fbem-11066	188	24	value	value	NOUN
fbem-11066	188	25	is	be	AUX
fbem-11066	188	26	0.000	0.000	NUM
fbem-11066	188	27	*	*	PUNCT
fbem-11066	188	28	*	*	PUNCT
fbem-11066	188	29	*	*	PUNCT
fbem-11066	188	30	,	,	PUNCT
fbem-11066	188	31	showing	show	VERB
fbem-11066	188	32	significance	significance	NOUN
fbem-11066	188	33	at	at	ADP
fbem-11066	188	34	the	the	DET
fbem-11066	188	35	level	level	NOUN
fbem-11066	188	36	,	,	PUNCT
fbem-11066	188	37	and	and	CCONJ
fbem-11066	188	38	rejecting	reject	VERB
fbem-11066	188	39	the	the	DET
fbem-11066	188	40	original	original	ADJ
fbem-11066	188	41	assumption	assumption	NOUN
fbem-11066	188	42	that	that	SCONJ
fbem-11066	188	43	the	the	DET
fbem-11066	188	44	regression	regression	NOUN
fbem-11066	188	45	coefficient	coefficient	NOUN
fbem-11066	188	46	is	be	AUX
fbem-11066	188	47	0	0	NUM
fbem-11066	188	48	,	,	PUNCT
fbem-11066	188	49	so	so	ADV
fbem-11066	188	50	the	the	DET
fbem-11066	188	51	model	model	NOUN
fbem-11066	188	52	basically	basically	ADV
fbem-11066	188	53	meets	meet	VERB
fbem-11066	188	54	the	the	DET
fbem-11066	188	55	requirements	requirement	NOUN
fbem-11066	188	56	.	.	PUNCT
fbem-11066	189	1	for	for	ADP
fbem-11066	189	2	variable	variable	ADJ
fbem-11066	189	3	col	col	NOUN
fbem-11066	189	4	-	-	NOUN
fbem-11066	189	5	linearity	linearity	NOUN
fbem-11066	189	6	,	,	PUNCT
fbem-11066	189	7	the	the	DET
fbem-11066	189	8	vif	vif	NOUN
fbem-11066	189	9	is	be	AUX
fbem-11066	189	10	all	all	ADV
fbem-11066	189	11	less	less	ADJ
fbem-11066	189	12	than	than	ADP
fbem-11066	189	13	10	10	NUM
fbem-11066	189	14	,	,	PUNCT
fbem-11066	189	15	so	so	SCONJ
fbem-11066	189	16	the	the	DET
fbem-11066	189	17	model	model	NOUN
fbem-11066	189	18	has	have	VERB
fbem-11066	189	19	no	no	DET
fbem-11066	189	20	multicollinearity	multicollinearity	NOUN
fbem-11066	189	21	problem	problem	NOUN
fbem-11066	189	22	,	,	PUNCT
fbem-11066	189	23	and	and	CCONJ
fbem-11066	189	24	the	the	DET
fbem-11066	189	25	model	model	NOUN
fbem-11066	189	26	is	be	AUX
fbem-11066	189	27	well	well	ADV
fbem-11066	189	28	constructed	construct	VERB
fbem-11066	189	29	.	.	PUNCT
fbem-11066	190	1	the	the	DET
fbem-11066	190	2	formula	formula	NOUN
fbem-11066	190	3	for	for	ADP
fbem-11066	190	4	the	the	DET
fbem-11066	190	5	final	final	ADJ
fbem-11066	190	6	model	model	NOUN
fbem-11066	190	7	is	be	AUX
fbem-11066	190	8	:	:	PUNCT
fbem-11066	190	9	339	339	NUM
fbem-11066	190	10	lngdp_growth	lngdp_growth	NOUN
fbem-11066	190	11	=	=	PRON
fbem-11066	190	12	-1.102	-1.102	X
fbem-11066	190	13	0.154*c1	0.154*c1	NOUN
fbem-11066	190	14	-	-	PUNCT
fbem-11066	190	15	lnpce	lnpce	PROPN
fbem-11066	190	16	+	+	CCONJ
fbem-11066	190	17	0.255*c4lnrsi	0.255*c4lnrsi	NUM
fbem-11066	190	18	+	+	CCONJ
fbem-11066	190	19	0.036*iv1	0.036*iv1	ADJ
fbem-11066	190	20	-	-	ADJ
fbem-11066	190	21	lngfcf	lngfcf	ADJ
fbem-11066	190	22	+	+	CCONJ
fbem-11066	190	23	1.196*iv2	1.196*iv2	NUM
fbem-11066	190	24	-	-	PUNCT
fbem-11066	190	25	lnmppi	lnmppi	NOUN
fbem-11066	190	26	the	the	DET
fbem-11066	190	27	results	result	NOUN
fbem-11066	190	28	further	far	ADV
fbem-11066	190	29	demonstrate	demonstrate	VERB
fbem-11066	190	30	that	that	SCONJ
fbem-11066	190	31	the	the	DET
fbem-11066	190	32	year	year	NOUN
fbem-11066	190	33	-	-	PUNCT
fbem-11066	190	34	on	on	ADP
fbem-11066	190	35	-	-	PUNCT
fbem-11066	190	36	year	year	NOUN
fbem-11066	190	37	growth	growth	NOUN
fbem-11066	190	38	rate	rate	NOUN
fbem-11066	190	39	of	of	ADP
fbem-11066	190	40	gdp	gdp	NOUN
fbem-11066	190	41	is	be	AUX
fbem-11066	190	42	lngdp_growth	lngdp_growth	NOUN
fbem-11066	190	43	is	be	AUX
fbem-11066	190	44	positively	positively	ADV
fbem-11066	190	45	correlated	correlate	VERB
fbem-11066	190	46	with	with	ADP
fbem-11066	190	47	the	the	DET
fbem-11066	190	48	retail	retail	ADJ
fbem-11066	190	49	sales	sale	NOUN
fbem-11066	190	50	index	index	NOUN
fbem-11066	190	51	lnrsi	lnrsi	NOUN
fbem-11066	190	52	and	and	CCONJ
fbem-11066	190	53	negatively	negatively	ADV
fbem-11066	190	54	correlated	correlate	VERB
fbem-11066	190	55	with	with	ADP
fbem-11066	190	56	the	the	DET
fbem-11066	190	57	production	production	NOUN
fbem-11066	190	58	price	price	NOUN
fbem-11066	190	59	index	index	NOUN
fbem-11066	190	60	lnmppi	lnmppi	NOUN
fbem-11066	190	61	.	.	PUNCT
fbem-11066	191	1	the	the	DET
fbem-11066	191	2	pvalues	pvalue	NOUN
fbem-11066	191	3	of	of	ADP
fbem-11066	191	4	both	both	DET
fbem-11066	191	5	variables	variable	NOUN
fbem-11066	191	6	pass	pass	VERB
fbem-11066	191	7	the	the	DET
fbem-11066	191	8	test	test	NOUN
fbem-11066	191	9	.	.	PUNCT
fbem-11066	192	1	4.2	4.2	NUM
fbem-11066	192	2	.	.	PUNCT
fbem-11066	193	1	empirical	empirical	ADJ
fbem-11066	193	2	results	result	NOUN
fbem-11066	193	3	through	through	ADP
fbem-11066	193	4	empirical	empirical	ADJ
fbem-11066	193	5	research	research	NOUN
fbem-11066	193	6	,	,	PUNCT
fbem-11066	193	7	it	it	PRON
fbem-11066	193	8	has	have	AUX
fbem-11066	193	9	been	be	AUX
fbem-11066	193	10	found	find	VERB
fbem-11066	193	11	that	that	SCONJ
fbem-11066	193	12	fintech	fintech	NOUN
fbem-11066	193	13	has	have	VERB
fbem-11066	193	14	a	a	DET
fbem-11066	193	15	local	local	ADJ
fbem-11066	193	16	impact	impact	NOUN
fbem-11066	193	17	on	on	ADP
fbem-11066	193	18	the	the	DET
fbem-11066	193	19	interest	interest	NOUN
fbem-11066	193	20	rate	rate	NOUN
fbem-11066	193	21	market	market	NOUN
fbem-11066	193	22	and	and	CCONJ
fbem-11066	193	23	investment	investment	NOUN
fbem-11066	193	24	market	market	NOUN
fbem-11066	193	25	.	.	PUNCT
fbem-11066	194	1	among	among	ADP
fbem-11066	194	2	them	they	PRON
fbem-11066	194	3	,	,	PUNCT
fbem-11066	194	4	for	for	ADP
fbem-11066	194	5	the	the	DET
fbem-11066	194	6	financial	financial	ADJ
fbem-11066	194	7	market	market	NOUN
fbem-11066	194	8	,	,	PUNCT
fbem-11066	194	9	when	when	SCONJ
fbem-11066	194	10	a	a	DET
fbem-11066	194	11	positive	positive	ADJ
fbem-11066	194	12	impact	impact	NOUN
fbem-11066	194	13	is	be	AUX
fbem-11066	194	14	given	give	VERB
fbem-11066	194	15	to	to	ADP
fbem-11066	194	16	fintech	fintech	NOUN
fbem-11066	194	17	,	,	PUNCT
fbem-11066	194	18	the	the	DET
fbem-11066	194	19	efficiency	efficiency	NOUN
fbem-11066	194	20	of	of	ADP
fbem-11066	194	21	the	the	DET
fbem-11066	194	22	financial	financial	ADJ
fbem-11066	194	23	market	market	NOUN
fbem-11066	194	24	will	will	AUX
fbem-11066	194	25	decline	decline	VERB
fbem-11066	194	26	in	in	ADP
fbem-11066	194	27	the	the	DET
fbem-11066	194	28	early	early	ADJ
fbem-11066	194	29	stage	stage	NOUN
fbem-11066	194	30	and	and	CCONJ
fbem-11066	194	31	then	then	ADV
fbem-11066	194	32	decline	decline	VERB
fbem-11066	194	33	.	.	PUNCT
fbem-11066	195	1	it	it	PRON
fbem-11066	195	2	also	also	ADV
fbem-11066	195	3	means	mean	VERB
fbem-11066	195	4	that	that	SCONJ
fbem-11066	195	5	financial	financial	ADJ
fbem-11066	195	6	technology	technology	NOUN
fbem-11066	195	7	has	have	AUX
fbem-11066	195	8	led	lead	VERB
fbem-11066	195	9	to	to	ADP
fbem-11066	195	10	a	a	DET
fbem-11066	195	11	decrease	decrease	NOUN
fbem-11066	195	12	in	in	ADP
fbem-11066	195	13	market	market	NOUN
fbem-11066	195	14	interest	interest	NOUN
fbem-11066	195	15	rates	rate	NOUN
fbem-11066	195	16	,	,	PUNCT
fbem-11066	195	17	thereby	thereby	ADV
fbem-11066	195	18	having	have	VERB
fbem-11066	195	19	an	an	DET
fbem-11066	195	20	impact	impact	NOUN
fbem-11066	195	21	on	on	ADP
fbem-11066	195	22	the	the	DET
fbem-11066	195	23	financial	financial	ADJ
fbem-11066	195	24	market	market	NOUN
fbem-11066	195	25	.	.	PUNCT
fbem-11066	196	1	for	for	ADP
fbem-11066	196	2	the	the	DET
fbem-11066	196	3	consumer	consumer	NOUN
fbem-11066	196	4	market	market	NOUN
fbem-11066	196	5	,	,	PUNCT
fbem-11066	196	6	when	when	SCONJ
fbem-11066	196	7	a	a	DET
fbem-11066	196	8	positive	positive	ADJ
fbem-11066	196	9	impact	impact	NOUN
fbem-11066	196	10	of	of	ADP
fbem-11066	196	11	1	1	NUM
fbem-11066	196	12	unit	unit	NOUN
fbem-11066	196	13	is	be	AUX
fbem-11066	196	14	given	give	VERB
fbem-11066	196	15	to	to	ADP
fbem-11066	196	16	the	the	DET
fbem-11066	196	17	fintech	fintech	NOUN
fbem-11066	196	18	index	index	NOUN
fbem-11066	196	19	,	,	PUNCT
fbem-11066	196	20	the	the	DET
fbem-11066	196	21	private	private	ADJ
fbem-11066	196	22	consumption	consumption	NOUN
fbem-11066	196	23	expenditure	expenditure	NOUN
fbem-11066	196	24	and	and	CCONJ
fbem-11066	196	25	retail	retail	ADJ
fbem-11066	196	26	sales	sale	NOUN
fbem-11066	196	27	index	index	NOUN
fbem-11066	196	28	will	will	AUX
fbem-11066	196	29	reach	reach	VERB
fbem-11066	196	30	their	their	PRON
fbem-11066	196	31	peak	peak	NOUN
fbem-11066	196	32	after	after	ADP
fbem-11066	196	33	the	the	DET
fbem-11066	196	34	initial	initial	ADJ
fbem-11066	196	35	decline	decline	NOUN
fbem-11066	196	36	,	,	PUNCT
fbem-11066	196	37	then	then	ADV
fbem-11066	196	38	gradually	gradually	ADV
fbem-11066	196	39	decrease	decrease	VERB
fbem-11066	196	40	and	and	CCONJ
fbem-11066	196	41	stabilize	stabilize	VERB
fbem-11066	196	42	.	.	PUNCT
fbem-11066	197	1	financial	financial	ADJ
fbem-11066	197	2	technology	technology	NOUN
fbem-11066	197	3	can	can	AUX
fbem-11066	197	4	help	help	VERB
fbem-11066	197	5	improve	improve	VERB
fbem-11066	197	6	consumption	consumption	NOUN
fbem-11066	197	7	levels	level	NOUN
fbem-11066	197	8	,	,	PUNCT
fbem-11066	197	9	and	and	CCONJ
fbem-11066	197	10	it	it	PRON
fbem-11066	197	11	has	have	AUX
fbem-11066	197	12	led	lead	VERB
fbem-11066	197	13	to	to	ADP
fbem-11066	197	14	significant	significant	ADJ
fbem-11066	197	15	changes	change	NOUN
fbem-11066	197	16	in	in	ADP
fbem-11066	197	17	the	the	DET
fbem-11066	197	18	consumer	consumer	NOUN
fbem-11066	197	19	market	market	NOUN
fbem-11066	197	20	.	.	PUNCT
fbem-11066	198	1	for	for	ADP
fbem-11066	198	2	the	the	DET
fbem-11066	198	3	investment	investment	NOUN
fbem-11066	198	4	market	market	NOUN
fbem-11066	198	5	,	,	PUNCT
fbem-11066	198	6	when	when	SCONJ
fbem-11066	198	7	there	there	PRON
fbem-11066	198	8	is	be	VERB
fbem-11066	198	9	a	a	DET
fbem-11066	198	10	positive	positive	ADJ
fbem-11066	198	11	impact	impact	NOUN
fbem-11066	198	12	of	of	ADP
fbem-11066	198	13	1	1	NUM
fbem-11066	198	14	unit	unit	NOUN
fbem-11066	198	15	on	on	ADP
fbem-11066	198	16	the	the	DET
fbem-11066	198	17	fintech	fintech	NOUN
fbem-11066	198	18	index	index	NOUN
fbem-11066	198	19	,	,	PUNCT
fbem-11066	198	20	the	the	DET
fbem-11066	198	21	total	total	ADJ
fbem-11066	198	22	fixed	fix	VERB
fbem-11066	198	23	capital	capital	NOUN
fbem-11066	198	24	formation	formation	NOUN
fbem-11066	198	25	will	will	AUX
fbem-11066	198	26	be	be	AUX
fbem-11066	198	27	affected	affect	VERB
fbem-11066	198	28	,	,	PUNCT
fbem-11066	198	29	and	and	CCONJ
fbem-11066	198	30	the	the	DET
fbem-11066	198	31	manufactured	manufacture	VERB
fbem-11066	198	32	goods	good	NOUN
fbem-11066	198	33	price	price	NOUN
fbem-11066	198	34	index	index	NOUN
fbem-11066	198	35	will	will	AUX
fbem-11066	198	36	rapidly	rapidly	ADV
fbem-11066	198	37	decline	decline	VERB
fbem-11066	198	38	in	in	ADP
fbem-11066	198	39	the	the	DET
fbem-11066	198	40	early	early	ADJ
fbem-11066	198	41	stage	stage	NOUN
fbem-11066	198	42	and	and	CCONJ
fbem-11066	198	43	then	then	ADV
fbem-11066	198	44	decline	decline	VERB
fbem-11066	198	45	after	after	ADP
fbem-11066	198	46	reaching	reach	VERB
fbem-11066	198	47	its	its	PRON
fbem-11066	198	48	peak	peak	NOUN
fbem-11066	198	49	,	,	PUNCT
fbem-11066	198	50	gradually	gradually	ADV
fbem-11066	198	51	stabilizing	stabilize	VERB
fbem-11066	198	52	.	.	PUNCT
fbem-11066	199	1	it	it	PRON
fbem-11066	199	2	indicates	indicate	VERB
fbem-11066	199	3	that	that	SCONJ
fbem-11066	199	4	financial	financial	ADJ
fbem-11066	199	5	technology	technology	NOUN
fbem-11066	199	6	can	can	AUX
fbem-11066	199	7	help	help	VERB
fbem-11066	199	8	improve	improve	VERB
fbem-11066	199	9	investment	investment	NOUN
fbem-11066	199	10	levels	level	NOUN
fbem-11066	199	11	,	,	PUNCT
fbem-11066	199	12	and	and	CCONJ
fbem-11066	199	13	financial	financial	ADJ
fbem-11066	199	14	technology	technology	NOUN
fbem-11066	199	15	leads	lead	VERB
fbem-11066	199	16	to	to	ADP
fbem-11066	199	17	significant	significant	ADJ
fbem-11066	199	18	changes	change	NOUN
fbem-11066	199	19	in	in	ADP
fbem-11066	199	20	the	the	DET
fbem-11066	199	21	investment	investment	NOUN
fbem-11066	199	22	market	market	NOUN
fbem-11066	199	23	.	.	PUNCT
fbem-11066	200	1	from	from	ADP
fbem-11066	200	2	the	the	DET
fbem-11066	200	3	variance	variance	NOUN
fbem-11066	200	4	estimation	estimation	NOUN
fbem-11066	200	5	results	result	NOUN
fbem-11066	200	6	,	,	PUNCT
fbem-11066	200	7	it	it	PRON
fbem-11066	200	8	can	can	AUX
fbem-11066	200	9	be	be	AUX
fbem-11066	200	10	seen	see	VERB
fbem-11066	200	11	that	that	SCONJ
fbem-11066	200	12	financial	financial	ADJ
fbem-11066	200	13	technology	technology	NOUN
fbem-11066	200	14	has	have	AUX
fbem-11066	200	15	led	lead	VERB
fbem-11066	200	16	to	to	ADP
fbem-11066	200	17	a	a	DET
fbem-11066	200	18	decrease	decrease	NOUN
fbem-11066	200	19	in	in	ADP
fbem-11066	200	20	market	market	NOUN
fbem-11066	200	21	interest	interest	NOUN
fbem-11066	200	22	rates	rate	NOUN
fbem-11066	200	23	,	,	PUNCT
fbem-11066	200	24	and	and	CCONJ
fbem-11066	200	25	changes	change	NOUN
fbem-11066	200	26	in	in	ADP
fbem-11066	200	27	the	the	DET
fbem-11066	200	28	interest	interest	NOUN
fbem-11066	200	29	rate	rate	NOUN
fbem-11066	200	30	market	market	NOUN
fbem-11066	200	31	have	have	AUX
fbem-11066	200	32	had	have	VERB
fbem-11066	200	33	a	a	DET
fbem-11066	200	34	certain	certain	ADJ
fbem-11066	200	35	impact	impact	NOUN
fbem-11066	200	36	on	on	ADP
fbem-11066	200	37	the	the	DET
fbem-11066	200	38	consumer	consumer	NOUN
fbem-11066	200	39	and	and	CCONJ
fbem-11066	200	40	investment	investment	NOUN
fbem-11066	200	41	markets	market	NOUN
fbem-11066	200	42	.	.	PUNCT
fbem-11066	201	1	the	the	DET
fbem-11066	201	2	positive	positive	ADJ
fbem-11066	201	3	changes	change	NOUN
fbem-11066	201	4	in	in	ADP
fbem-11066	201	5	the	the	DET
fbem-11066	201	6	consumer	consumer	NOUN
fbem-11066	201	7	market	market	NOUN
fbem-11066	201	8	and	and	CCONJ
fbem-11066	201	9	investment	investment	NOUN
fbem-11066	201	10	market	market	NOUN
fbem-11066	201	11	will	will	AUX
fbem-11066	201	12	drive	drive	VERB
fbem-11066	201	13	a	a	DET
fbem-11066	201	14	positive	positive	ADJ
fbem-11066	201	15	change	change	NOUN
fbem-11066	201	16	in	in	ADP
fbem-11066	201	17	the	the	DET
fbem-11066	201	18	gdp	gdp	NOUN
fbem-11066	201	19	growth	growth	NOUN
fbem-11066	201	20	rate	rate	NOUN
fbem-11066	201	21	.	.	PUNCT
fbem-11066	202	1	according	accord	VERB
fbem-11066	202	2	to	to	ADP
fbem-11066	202	3	the	the	DET
fbem-11066	202	4	equation	equation	NOUN
fbem-11066	202	5	estimation	estimation	NOUN
fbem-11066	202	6	of	of	ADP
fbem-11066	202	7	each	each	DET
fbem-11066	202	8	market	market	NOUN
fbem-11066	202	9	and	and	CCONJ
fbem-11066	202	10	economic	economic	ADJ
fbem-11066	202	11	output	output	NOUN
fbem-11066	202	12	growth	growth	NOUN
fbem-11066	202	13	,	,	PUNCT
fbem-11066	202	14	it	it	PRON
fbem-11066	202	15	can	can	AUX
fbem-11066	202	16	be	be	AUX
fbem-11066	202	17	seen	see	VERB
fbem-11066	202	18	that	that	SCONJ
fbem-11066	202	19	the	the	DET
fbem-11066	202	20	consumer	consumer	NOUN
fbem-11066	202	21	market	market	NOUN
fbem-11066	202	22	and	and	CCONJ
fbem-11066	202	23	investment	investment	NOUN
fbem-11066	202	24	market	market	NOUN
fbem-11066	202	25	have	have	VERB
fbem-11066	202	26	a	a	DET
fbem-11066	202	27	positive	positive	ADJ
fbem-11066	202	28	impact	impact	NOUN
fbem-11066	202	29	on	on	ADP
fbem-11066	202	30	the	the	DET
fbem-11066	202	31	total	total	ADJ
fbem-11066	202	32	economic	economic	ADJ
fbem-11066	202	33	output	output	NOUN
fbem-11066	202	34	.	.	PUNCT
fbem-11066	203	1	in	in	ADP
fbem-11066	203	2	short	short	ADJ
fbem-11066	203	3	,	,	PUNCT
fbem-11066	203	4	financial	financial	ADJ
fbem-11066	203	5	technology	technology	NOUN
fbem-11066	203	6	has	have	AUX
fbem-11066	203	7	led	lead	VERB
fbem-11066	203	8	to	to	ADP
fbem-11066	203	9	a	a	DET
fbem-11066	203	10	decrease	decrease	NOUN
fbem-11066	203	11	in	in	ADP
fbem-11066	203	12	market	market	NOUN
fbem-11066	203	13	interest	interest	NOUN
fbem-11066	203	14	rates	rate	NOUN
fbem-11066	203	15	,	,	PUNCT
fbem-11066	203	16	improved	improve	VERB
fbem-11066	203	17	financing	financing	NOUN
fbem-11066	203	18	efficiency	efficiency	NOUN
fbem-11066	203	19	,	,	PUNCT
fbem-11066	203	20	and	and	CCONJ
fbem-11066	203	21	,	,	PUNCT
fbem-11066	203	22	through	through	ADP
fbem-11066	203	23	the	the	DET
fbem-11066	203	24	direct	direct	ADJ
fbem-11066	203	25	or	or	CCONJ
fbem-11066	203	26	indirect	indirect	ADJ
fbem-11066	203	27	effects	effect	NOUN
fbem-11066	203	28	of	of	ADP
fbem-11066	203	29	interest	interest	NOUN
fbem-11066	203	30	rate	rate	NOUN
fbem-11066	203	31	mechanisms	mechanism	NOUN
fbem-11066	203	32	,	,	PUNCT
fbem-11066	203	33	increased	increase	VERB
fbem-11066	203	34	consumer	consumer	NOUN
fbem-11066	203	35	and	and	CCONJ
fbem-11066	203	36	investment	investment	NOUN
fbem-11066	203	37	markets	market	NOUN
fbem-11066	203	38	,	,	PUNCT
fbem-11066	203	39	ultimately	ultimately	ADV
fbem-11066	203	40	promoting	promote	VERB
fbem-11066	203	41	economic	economic	ADJ
fbem-11066	203	42	growth	growth	NOUN
fbem-11066	203	43	(	(	PUNCT
fbem-11066	203	44	lin	lin	PROPN
fbem-11066	203	45	,	,	PUNCT
fbem-11066	203	46	2019	2019	NUM
fbem-11066	203	47	)	)	PUNCT
fbem-11066	203	48	5	5	NUM
fbem-11066	203	49	.	.	X
fbem-11066	203	50	conclusion	conclusion	NOUN
fbem-11066	203	51	the	the	DET
fbem-11066	203	52	manuscript	manuscript	NOUN
fbem-11066	203	53	should	should	AUX
fbem-11066	203	54	include	include	VERB
fbem-11066	203	55	a	a	DET
fbem-11066	203	56	conclusion	conclusion	NOUN
fbem-11066	203	57	.	.	PUNCT
fbem-11066	204	1	in	in	ADP
fbem-11066	204	2	this	this	DET
fbem-11066	204	3	section	section	NOUN
fbem-11066	204	4	,	,	PUNCT
fbem-11066	204	5	summarize	summarize	VERB
fbem-11066	204	6	what	what	PRON
fbem-11066	204	7	was	be	AUX
fbem-11066	204	8	described	describe	VERB
fbem-11066	204	9	in	in	ADP
fbem-11066	204	10	your	your	PRON
fbem-11066	204	11	paper	paper	NOUN
fbem-11066	204	12	.	.	PUNCT
fbem-11066	205	1	future	future	ADJ
fbem-11066	205	2	directions	direction	NOUN
fbem-11066	205	3	may	may	AUX
fbem-11066	205	4	also	also	ADV
fbem-11066	205	5	be	be	AUX
fbem-11066	205	6	included	include	VERB
fbem-11066	205	7	in	in	ADP
fbem-11066	205	8	this	this	DET
fbem-11066	205	9	section	section	NOUN
fbem-11066	205	10	.	.	PUNCT
fbem-11066	206	1	authors	author	NOUN
fbem-11066	206	2	are	be	AUX
fbem-11066	206	3	strongly	strongly	ADV
fbem-11066	206	4	encouraged	encourage	VERB
fbem-11066	206	5	not	not	PART
fbem-11066	206	6	to	to	PART
fbem-11066	206	7	reference	reference	VERB
fbem-11066	206	8	multiple	multiple	ADJ
fbem-11066	206	9	figures	figure	NOUN
fbem-11066	206	10	or	or	CCONJ
fbem-11066	206	11	tables	table	NOUN
fbem-11066	206	12	in	in	ADP
fbem-11066	206	13	the	the	DET
fbem-11066	206	14	conclusion	conclusion	NOUN
fbem-11066	206	15	;	;	PUNCT
fbem-11066	206	16	these	these	PRON
fbem-11066	206	17	should	should	AUX
fbem-11066	206	18	be	be	AUX
fbem-11066	206	19	referenced	reference	VERB
fbem-11066	206	20	in	in	ADP
fbem-11066	206	21	the	the	DET
fbem-11066	206	22	body	body	NOUN
fbem-11066	206	23	of	of	ADP
fbem-11066	206	24	the	the	DET
fbem-11066	206	25	paper	paper	NOUN
fbem-11066	206	26	.	.	PUNCT
fbem-11066	207	1	6	6	NUM
fbem-11066	207	2	.	.	X
fbem-11066	207	3	discussion	discussion	NOUN
fbem-11066	207	4	through	through	ADP
fbem-11066	207	5	research	research	NOUN
fbem-11066	207	6	on	on	ADP
fbem-11066	207	7	fintech	fintech	NOUN
fbem-11066	207	8	in	in	ADP
fbem-11066	207	9	singapore	singapore	PROPN
fbem-11066	207	10	,	,	PUNCT
fbem-11066	207	11	this	this	DET
fbem-11066	207	12	study	study	NOUN
fbem-11066	207	13	has	have	AUX
fbem-11066	207	14	confirmed	confirm	VERB
fbem-11066	207	15	its	its	PRON
fbem-11066	207	16	positive	positive	ADJ
fbem-11066	207	17	impact	impact	NOUN
fbem-11066	207	18	on	on	ADP
fbem-11066	207	19	the	the	DET
fbem-11066	207	20	nation	nation	NOUN
fbem-11066	207	21	's	's	PART
fbem-11066	207	22	economic	economic	ADJ
fbem-11066	207	23	growth	growth	NOUN
fbem-11066	207	24	,	,	PUNCT
fbem-11066	207	25	thereby	thereby	ADV
fbem-11066	207	26	addressing	address	VERB
fbem-11066	207	27	the	the	DET
fbem-11066	207	28	initial	initial	ADJ
fbem-11066	207	29	hypothesis	hypothesis	NOUN
fbem-11066	207	30	and	and	CCONJ
fbem-11066	207	31	achieving	achieve	VERB
fbem-11066	207	32	set	set	ADJ
fbem-11066	207	33	objectives	objective	NOUN
fbem-11066	207	34	.	.	PUNCT
fbem-11066	208	1	fintech	fintech	NOUN
fbem-11066	208	2	's	's	PART
fbem-11066	208	3	influence	influence	NOUN
fbem-11066	208	4	is	be	AUX
fbem-11066	208	5	evident	evident	ADJ
fbem-11066	208	6	across	across	ADP
fbem-11066	208	7	interest	interest	NOUN
fbem-11066	208	8	rate	rate	NOUN
fbem-11066	208	9	markets	market	NOUN
fbem-11066	208	10	,	,	PUNCT
fbem-11066	208	11	consumer	consumer	NOUN
fbem-11066	208	12	markets	market	NOUN
fbem-11066	208	13	,	,	PUNCT
fbem-11066	208	14	and	and	CCONJ
fbem-11066	208	15	investment	investment	NOUN
fbem-11066	208	16	arenas	arena	NOUN
fbem-11066	208	17	,	,	PUNCT
fbem-11066	208	18	driving	drive	VERB
fbem-11066	208	19	growth	growth	NOUN
fbem-11066	208	20	by	by	ADP
fbem-11066	208	21	enhancing	enhance	VERB
fbem-11066	208	22	efficiency	efficiency	NOUN
fbem-11066	208	23	in	in	ADP
fbem-11066	208	24	financial	financial	ADJ
fbem-11066	208	25	institutions	institution	NOUN
fbem-11066	208	26	,	,	PUNCT
fbem-11066	208	27	altering	alter	VERB
fbem-11066	208	28	consumer	consumer	NOUN
fbem-11066	208	29	behaviors	behavior	NOUN
fbem-11066	208	30	,	,	PUNCT
fbem-11066	208	31	fostering	foster	VERB
fbem-11066	208	32	investments	investment	NOUN
fbem-11066	208	33	,	,	PUNCT
fbem-11066	208	34	and	and	CCONJ
fbem-11066	208	35	developing	develop	VERB
fbem-11066	208	36	innovative	innovative	ADJ
fbem-11066	208	37	financial	financial	ADJ
fbem-11066	208	38	products	product	NOUN
fbem-11066	208	39	.	.	PUNCT
fbem-11066	209	1	these	these	DET
fbem-11066	209	2	findings	finding	NOUN
fbem-11066	209	3	provide	provide	VERB
fbem-11066	209	4	crucial	crucial	ADJ
fbem-11066	209	5	policy	policy	NOUN
fbem-11066	209	6	insights	insight	NOUN
fbem-11066	209	7	for	for	ADP
fbem-11066	209	8	the	the	DET
fbem-11066	209	9	singaporean	singaporean	ADJ
fbem-11066	209	10	government	government	NOUN
fbem-11066	209	11	and	and	CCONJ
fbem-11066	209	12	associated	associated	ADJ
fbem-11066	209	13	entities	entity	NOUN
fbem-11066	209	14	,	,	PUNCT
fbem-11066	209	15	emphasizing	emphasize	VERB
fbem-11066	209	16	the	the	DET
fbem-11066	209	17	need	need	NOUN
fbem-11066	209	18	for	for	ADP
fbem-11066	209	19	reinforced	reinforce	VERB
fbem-11066	209	20	regulatory	regulatory	ADJ
fbem-11066	209	21	frameworks	framework	NOUN
fbem-11066	209	22	and	and	CCONJ
fbem-11066	209	23	increased	increase	VERB
fbem-11066	209	24	research	research	NOUN
fbem-11066	209	25	and	and	CCONJ
fbem-11066	209	26	innovation	innovation	NOUN
fbem-11066	209	27	in	in	ADP
fbem-11066	209	28	fintech	fintech	NOUN
fbem-11066	209	29	for	for	ADP
fbem-11066	209	30	its	its	PRON
fbem-11066	209	31	sustainable	sustainable	ADJ
fbem-11066	209	32	growth	growth	NOUN
fbem-11066	209	33	and	and	CCONJ
fbem-11066	209	34	market	market	NOUN
fbem-11066	209	35	stability	stability	NOUN
fbem-11066	209	36	.	.	PUNCT
fbem-11066	210	1	however	however	ADV
fbem-11066	210	2	,	,	PUNCT
fbem-11066	210	3	the	the	DET
fbem-11066	210	4	study	study	NOUN
fbem-11066	210	5	is	be	AUX
fbem-11066	210	6	confined	confine	VERB
fbem-11066	210	7	to	to	ADP
fbem-11066	210	8	data	datum	NOUN
fbem-11066	210	9	from	from	ADP
fbem-11066	210	10	2010	2010	NUM
fbem-11066	210	11	-	-	SYM
fbem-11066	210	12	2022	2022	NUM
fbem-11066	210	13	,	,	PUNCT
fbem-11066	210	14	limiting	limit	VERB
fbem-11066	210	15	the	the	DET
fbem-11066	210	16	assessment	assessment	NOUN
fbem-11066	210	17	of	of	ADP
fbem-11066	210	18	fintech	fintech	NOUN
fbem-11066	210	19	's	's	PART
fbem-11066	210	20	impact	impact	NOUN
fbem-11066	210	21	outside	outside	ADP
fbem-11066	210	22	this	this	DET
fbem-11066	210	23	period	period	NOUN
fbem-11066	210	24	.	.	PUNCT
fbem-11066	211	1	furthermore	furthermore	ADV
fbem-11066	211	2	,	,	PUNCT
fbem-11066	211	3	the	the	DET
fbem-11066	211	4	var	var	NOUN
fbem-11066	211	5	model	model	NOUN
fbem-11066	211	6	used	use	VERB
fbem-11066	211	7	imposes	impose	VERB
fbem-11066	211	8	certain	certain	ADJ
fbem-11066	211	9	restrictions	restriction	NOUN
fbem-11066	211	10	on	on	ADP
fbem-11066	211	11	the	the	DET
fbem-11066	211	12	results	result	NOUN
fbem-11066	211	13	.	.	PUNCT
fbem-11066	212	1	hence	hence	ADV
fbem-11066	212	2	,	,	PUNCT
fbem-11066	212	3	while	while	SCONJ
fbem-11066	212	4	generalizing	generalize	VERB
fbem-11066	212	5	the	the	DET
fbem-11066	212	6	findings	finding	NOUN
fbem-11066	212	7	,	,	PUNCT
fbem-11066	212	8	cautious	cautious	ADJ
fbem-11066	212	9	evaluation	evaluation	NOUN
fbem-11066	212	10	and	and	CCONJ
fbem-11066	212	11	adjustments	adjustment	NOUN
fbem-11066	212	12	are	be	AUX
fbem-11066	212	13	required	require	VERB
fbem-11066	212	14	.	.	PUNCT
fbem-11066	213	1	future	future	ADJ
fbem-11066	213	2	studies	study	NOUN
fbem-11066	213	3	should	should	AUX
fbem-11066	213	4	expand	expand	VERB
fbem-11066	213	5	data	data	NOUN
fbem-11066	213	6	scope	scope	NOUN
fbem-11066	213	7	and	and	CCONJ
fbem-11066	213	8	employ	employ	VERB
fbem-11066	213	9	more	more	ADJ
fbem-11066	213	10	economic	economic	ADJ
fbem-11066	213	11	indicators	indicator	NOUN
fbem-11066	213	12	and	and	CCONJ
fbem-11066	213	13	models	model	NOUN
fbem-11066	213	14	to	to	PART
fbem-11066	213	15	deepen	deepen	VERB
fbem-11066	213	16	the	the	DET
fbem-11066	213	17	understanding	understanding	NOUN
fbem-11066	213	18	of	of	ADP
fbem-11066	213	19	the	the	DET
fbem-11066	213	20	relationship	relationship	NOUN
fbem-11066	213	21	between	between	ADP
fbem-11066	213	22	fintech	fintech	NOUN
fbem-11066	213	23	and	and	CCONJ
fbem-11066	213	24	economic	economic	ADJ
fbem-11066	213	25	growth	growth	NOUN
fbem-11066	213	26	.	.	PUNCT
fbem-11066	214	1	7	7	X
fbem-11066	214	2	.	.	X
fbem-11066	214	3	conclusion	conclusion	NOUN
fbem-11066	214	4	financial	financial	ADJ
fbem-11066	214	5	technology	technology	NOUN
fbem-11066	214	6	(	(	PUNCT
fbem-11066	214	7	fintech	fintech	NOUN
fbem-11066	214	8	)	)	PUNCT
fbem-11066	214	9	plays	play	VERB
fbem-11066	214	10	an	an	DET
fbem-11066	214	11	integral	integral	ADJ
fbem-11066	214	12	role	role	NOUN
fbem-11066	214	13	in	in	ADP
fbem-11066	214	14	singapore	singapore	PROPN
fbem-11066	214	15	's	's	PART
fbem-11066	214	16	contemporary	contemporary	ADJ
fbem-11066	214	17	financial	financial	ADJ
fbem-11066	214	18	system	system	NOUN
fbem-11066	214	19	,	,	PUNCT
fbem-11066	214	20	contributing	contribute	VERB
fbem-11066	214	21	to	to	ADP
fbem-11066	214	22	operational	operational	ADJ
fbem-11066	214	23	efficiency	efficiency	NOUN
fbem-11066	214	24	,	,	PUNCT
fbem-11066	214	25	risk	risk	NOUN
fbem-11066	214	26	management	management	NOUN
fbem-11066	214	27	,	,	PUNCT
fbem-11066	214	28	inclusive	inclusive	ADJ
fbem-11066	214	29	financial	financial	ADJ
fbem-11066	214	30	services	service	NOUN
fbem-11066	214	31	,	,	PUNCT
fbem-11066	214	32	and	and	CCONJ
fbem-11066	214	33	market	market	NOUN
fbem-11066	214	34	accessibility	accessibility	NOUN
fbem-11066	214	35	(	(	PUNCT
fbem-11066	214	36	ankenbrand	ankenbrand	PROPN
fbem-11066	214	37	,	,	PUNCT
fbem-11066	214	38	t.	t.	PROPN
fbem-11066	214	39	,bieri	,bieri	PUNCT
fbem-11066	214	40	,	,	PUNCT
fbem-11066	214	41	d	d	NOUN
fbem-11066	214	42	,	,	PUNCT
fbem-11066	214	43	2018	2018	NUM
fbem-11066	214	44	)	)	PUNCT
fbem-11066	214	45	.	.	PUNCT
fbem-11066	215	1	by	by	ADP
fbem-11066	215	2	fostering	foster	VERB
fbem-11066	215	3	developments	development	NOUN
fbem-11066	215	4	in	in	ADP
fbem-11066	215	5	consumer	consumer	NOUN
fbem-11066	215	6	behavior	behavior	NOUN
fbem-11066	215	7	,	,	PUNCT
fbem-11066	215	8	investment	investment	NOUN
fbem-11066	215	9	markets	market	NOUN
fbem-11066	215	10	,	,	PUNCT
fbem-11066	215	11	and	and	CCONJ
fbem-11066	215	12	interest	interest	NOUN
fbem-11066	215	13	rates	rate	NOUN
fbem-11066	215	14	,	,	PUNCT
fbem-11066	215	15	fintech	fintech	NOUN
fbem-11066	215	16	advances	advance	NOUN
fbem-11066	215	17	singapore	singapore	PROPN
fbem-11066	215	18	's	's	PART
fbem-11066	215	19	economic	economic	ADJ
fbem-11066	215	20	growth	growth	NOUN
fbem-11066	215	21	.	.	PUNCT
fbem-11066	216	1	our	our	PRON
fbem-11066	216	2	study	study	NOUN
fbem-11066	216	3	,	,	PUNCT
fbem-11066	216	4	conducted	conduct	VERB
fbem-11066	216	5	using	use	VERB
fbem-11066	216	6	time	time	NOUN
fbem-11066	216	7	series	series	PROPN
fbem-11066	216	8	data	data	PROPN
fbem-11066	216	9	(	(	PUNCT
fbem-11066	216	10	2010	2010	NUM
fbem-11066	216	11	-	-	SYM
fbem-11066	216	12	2022	2022	NUM
fbem-11066	216	13	)	)	PUNCT
fbem-11066	216	14	and	and	CCONJ
fbem-11066	216	15	the	the	DET
fbem-11066	216	16	var	var	NOUN
fbem-11066	216	17	model	model	NOUN
fbem-11066	216	18	,	,	PUNCT
fbem-11066	216	19	indicates	indicate	VERB
fbem-11066	216	20	a	a	DET
fbem-11066	216	21	positive	positive	ADJ
fbem-11066	216	22	correlation	correlation	NOUN
fbem-11066	216	23	between	between	ADP
fbem-11066	216	24	fintech	fintech	NOUN
fbem-11066	216	25	growth	growth	NOUN
fbem-11066	216	26	and	and	CCONJ
fbem-11066	216	27	overall	overall	ADJ
fbem-11066	216	28	economic	economic	ADJ
fbem-11066	216	29	growth	growth	NOUN
fbem-11066	216	30	.	.	PUNCT
fbem-11066	217	1	it	it	PRON
fbem-11066	217	2	highlights	highlight	VERB
fbem-11066	217	3	how	how	SCONJ
fbem-11066	217	4	fintech	fintech	NOUN
fbem-11066	217	5	,	,	PUNCT
fbem-11066	217	6	by	by	ADP
fbem-11066	217	7	enhancing	enhance	VERB
fbem-11066	217	8	transparency	transparency	NOUN
fbem-11066	217	9	in	in	ADP
fbem-11066	217	10	financial	financial	ADJ
fbem-11066	217	11	product	product	NOUN
fbem-11066	217	12	pricing	pricing	NOUN
fbem-11066	217	13	,	,	PUNCT
fbem-11066	217	14	enables	enable	VERB
fbem-11066	217	15	accurate	accurate	ADJ
fbem-11066	217	16	risk	risk	NOUN
fbem-11066	217	17	and	and	CCONJ
fbem-11066	217	18	interest	interest	NOUN
fbem-11066	217	19	rate	rate	NOUN
fbem-11066	217	20	predictions	prediction	NOUN
fbem-11066	217	21	,	,	PUNCT
fbem-11066	217	22	thus	thus	ADV
fbem-11066	217	23	influencing	influence	VERB
fbem-11066	217	24	market	market	NOUN
fbem-11066	217	25	interest	interest	NOUN
fbem-11066	217	26	rates	rate	NOUN
fbem-11066	217	27	.	.	PUNCT
fbem-11066	218	1	given	give	VERB
fbem-11066	218	2	these	these	DET
fbem-11066	218	3	findings	finding	NOUN
fbem-11066	218	4	,	,	PUNCT
fbem-11066	218	5	this	this	DET
fbem-11066	218	6	paper	paper	NOUN
fbem-11066	218	7	suggests	suggest	VERB
fbem-11066	218	8	leveraging	leverage	VERB
fbem-11066	218	9	fintech	fintech	NOUN
fbem-11066	218	10	for	for	ADP
fbem-11066	218	11	economic	economic	ADJ
fbem-11066	218	12	growth	growth	NOUN
fbem-11066	218	13	by	by	ADP
fbem-11066	218	14	increasing	increase	VERB
fbem-11066	218	15	capital	capital	NOUN
fbem-11066	218	16	investment	investment	NOUN
fbem-11066	218	17	,	,	PUNCT
fbem-11066	218	18	expanding	expand	VERB
fbem-11066	218	19	fintech	fintech	NOUN
fbem-11066	218	20	infrastructure	infrastructure	NOUN
fbem-11066	218	21	,	,	PUNCT
fbem-11066	218	22	and	and	CCONJ
fbem-11066	218	23	promoting	promote	VERB
fbem-11066	218	24	fintech	fintech	NOUN
fbem-11066	218	25	innovation	innovation	NOUN
fbem-11066	218	26	.	.	PUNCT
fbem-11066	219	1	utilizing	utilize	VERB
fbem-11066	219	2	fintech	fintech	NOUN
fbem-11066	219	3	to	to	PART
fbem-11066	219	4	bolster	bolster	VERB
fbem-11066	219	5	consumer	consumer	NOUN
fbem-11066	219	6	markets	market	NOUN
fbem-11066	219	7	is	be	AUX
fbem-11066	219	8	recommended	recommend	VERB
fbem-11066	219	9	by	by	ADP
fbem-11066	219	10	supporting	support	VERB
fbem-11066	219	11	businesses	business	NOUN
fbem-11066	219	12	in	in	ADP
fbem-11066	219	13	building	build	VERB
fbem-11066	219	14	a	a	DET
fbem-11066	219	15	digital	digital	ADJ
fbem-11066	219	16	consumption	consumption	NOUN
fbem-11066	219	17	ecosystem	ecosystem	NOUN
fbem-11066	219	18	,	,	PUNCT
fbem-11066	219	19	facilitating	facilitate	VERB
fbem-11066	219	20	diverse	diverse	ADJ
fbem-11066	219	21	,	,	PUNCT
fbem-11066	219	22	secure	secure	ADJ
fbem-11066	219	23	,	,	PUNCT
fbem-11066	219	24	and	and	CCONJ
fbem-11066	219	25	convenient	convenient	ADJ
fbem-11066	219	26	payment	payment	NOUN
fbem-11066	219	27	methods	method	NOUN
fbem-11066	219	28	,	,	PUNCT
fbem-11066	219	29	and	and	CCONJ
fbem-11066	219	30	innovating	innovate	VERB
fbem-11066	219	31	consumer	consumer	NOUN
fbem-11066	219	32	finance	finance	NOUN
fbem-11066	219	33	products	product	NOUN
fbem-11066	219	34	and	and	CCONJ
fbem-11066	219	35	services	service	NOUN
fbem-11066	219	36	.	.	PUNCT
fbem-11066	220	1	finally	finally	ADV
fbem-11066	220	2	,	,	PUNCT
fbem-11066	220	3	enhancing	enhance	VERB
fbem-11066	220	4	fintech	fintech	NOUN
fbem-11066	220	5	's	's	PART
fbem-11066	220	6	role	role	NOUN
fbem-11066	220	7	in	in	ADP
fbem-11066	220	8	the	the	DET
fbem-11066	220	9	real	real	ADJ
fbem-11066	220	10	economy	economy	NOUN
fbem-11066	220	11	is	be	AUX
fbem-11066	220	12	crucial	crucial	ADJ
fbem-11066	220	13	.	.	PUNCT
fbem-11066	221	1	this	this	PRON
fbem-11066	221	2	could	could	AUX
fbem-11066	221	3	be	be	AUX
fbem-11066	221	4	achieved	achieve	VERB
fbem-11066	221	5	through	through	ADP
fbem-11066	221	6	encouraging	encourage	VERB
fbem-11066	221	7	technological	technological	ADJ
fbem-11066	221	8	innovation	innovation	NOUN
fbem-11066	221	9	and	and	CCONJ
fbem-11066	221	10	entrepreneurship	entrepreneurship	NOUN
fbem-11066	221	11	,	,	PUNCT
fbem-11066	221	12	fostering	foster	VERB
fbem-11066	221	13	collaboration	collaboration	NOUN
fbem-11066	221	14	between	between	ADP
fbem-11066	221	15	financial	financial	ADJ
fbem-11066	221	16	institutions	institution	NOUN
fbem-11066	221	17	and	and	CCONJ
fbem-11066	221	18	tech	tech	NOUN
fbem-11066	221	19	enterprises	enterprise	NOUN
fbem-11066	221	20	,	,	PUNCT
fbem-11066	221	21	and	and	CCONJ
fbem-11066	221	22	developing	develop	VERB
fbem-11066	221	23	financial	financial	ADJ
fbem-11066	221	24	products	product	NOUN
fbem-11066	221	25	that	that	PRON
fbem-11066	221	26	cater	cater	VERB
fbem-11066	221	27	to	to	ADP
fbem-11066	221	28	the	the	DET
fbem-11066	221	29	needs	need	NOUN
fbem-11066	221	30	of	of	ADP
fbem-11066	221	31	the	the	DET
fbem-11066	221	32	real	real	ADJ
fbem-11066	221	33	economy	economy	NOUN
fbem-11066	221	34	.	.	PUNCT
fbem-11066	222	1	this	this	DET
fbem-11066	222	2	comprehensive	comprehensive	ADJ
fbem-11066	222	3	approach	approach	NOUN
fbem-11066	222	4	ensures	ensure	VERB
fbem-11066	222	5	fintech	fintech	NOUN
fbem-11066	222	6	's	's	PART
fbem-11066	222	7	potential	potential	NOUN
fbem-11066	222	8	is	be	AUX
fbem-11066	222	9	harnessed	harness	VERB
fbem-11066	222	10	to	to	PART
fbem-11066	222	11	foster	foster	VERB
fbem-11066	222	12	sustainable	sustainable	ADJ
fbem-11066	222	13	and	and	CCONJ
fbem-11066	222	14	inclusive	inclusive	ADJ
fbem-11066	222	15	economic	economic	ADJ
fbem-11066	222	16	growth	growth	NOUN
fbem-11066	222	17	in	in	ADP
fbem-11066	222	18	singapore	singapore	PROPN
fbem-11066	222	19	.	.	PUNCT
fbem-11066	223	1	references	reference	NOUN
fbem-11066	223	2	[	[	X
fbem-11066	223	3	1	1	NUM
fbem-11066	223	4	]	]	PUNCT
fbem-11066	223	5	appiah	appiah	PROPN
fbem-11066	223	6	-	-	PUNCT
fbem-11066	223	7	otoo	otoo	NOUN
fbem-11066	223	8	,	,	PUNCT
fbem-11066	223	9	i.	i.	NOUN
fbem-11066	223	10	,	,	PUNCT
fbem-11066	223	11	&	&	CCONJ
fbem-11066	223	12	song	song	PROPN
fbem-11066	223	13	,	,	PUNCT
fbem-11066	223	14	n.	n.	NOUN
fbem-11066	223	15	(	(	PUNCT
fbem-11066	223	16	2021	2021	NUM
fbem-11066	223	17	)	)	PUNCT
fbem-11066	223	18	.	.	PUNCT
fbem-11066	224	1	the	the	DET
fbem-11066	224	2	impact	impact	NOUN
fbem-11066	224	3	of	of	ADP
fbem-11066	224	4	fintech	fintech	NOUN
fbem-11066	224	5	on	on	ADP
fbem-11066	224	6	poverty	poverty	NOUN
fbem-11066	224	7	reduction	reduction	NOUN
fbem-11066	224	8	:	:	PUNCT
fbem-11066	224	9	evidence	evidence	NOUN
fbem-11066	224	10	from	from	ADP
fbem-11066	224	11	china	china	PROPN
fbem-11066	224	12	.	.	PUNCT
fbem-11066	225	1	sustainability	sustainability	NOUN
fbem-11066	225	2	,	,	PUNCT
fbem-11066	225	3	13(9	13(9	NUM
fbem-11066	225	4	)	)	PUNCT
fbem-11066	225	5	,	,	PUNCT
fbem-11066	225	6	5225	5225	NUM
fbem-11066	225	7	.	.	PUNCT
fbem-11066	226	1	doi:10.3390	doi:10.3390	NOUN
fbem-11066	226	2	/	/	SYM
fbem-11066	226	3	su13095225	su13095225	PROPN
fbem-11066	226	4	.	.	PUNCT
fbem-11066	227	1	[	[	X
fbem-11066	227	2	2	2	NUM
fbem-11066	227	3	]	]	X
fbem-11066	227	4	ankenbrand	ankenbrand	PROPN
fbem-11066	227	5	,	,	PUNCT
fbem-11066	227	6	t.	t.	PROPN
fbem-11066	227	7	,	,	PUNCT
fbem-11066	227	8	&	&	CCONJ
fbem-11066	227	9	bieri	bieri	PROPN
fbem-11066	227	10	,	,	PUNCT
fbem-11066	227	11	d.	d.	PROPN
fbem-11066	227	12	(	(	PUNCT
fbem-11066	227	13	2018	2018	NUM
fbem-11066	227	14	)	)	PUNCT
fbem-11066	227	15	.	.	PUNCT
fbem-11066	228	1	where	where	SCONJ
fbem-11066	228	2	are	be	AUX
fbem-11066	228	3	the	the	DET
fbem-11066	228	4	best	good	ADJ
fbem-11066	228	5	fintech	fintech	NOUN
fbem-11066	228	6	centers	center	NOUN
fbem-11066	228	7	?	?	PUNCT
fbem-11066	229	1	retrieved	retrieve	VERB
fbem-11066	229	2	fromhttps://innovation.thomsonreuters.com/content/dam/ope	fromhttps://innovation.thomsonreuters.com/content/dam/ope	NOUN
fbem-11066	229	3	nweb	nweb	ADJ
fbem-11066	229	4	/	/	SYM
fbem-11066	229	5	documents	document	NOUN
fbem-11066	229	6	/	/	SYM
fbem-11066	229	7	pdf	pdf	NOUN
fbem-11066	229	8	/	/	SYM
fbem-11066	229	9	innovation	innovation	NOUN
fbem-11066	229	10	/	/	SYM
fbem-11066	229	11	case	case	NOUN
fbem-11066	229	12	-	-	PUNCT
fbem-11066	229	13	study	study	NOUN
fbem-11066	229	14	/	/	SYM
fbem-11066	229	15	ankenbrandthomas	ankenbrandthomas	PROPN
fbem-11066	229	16	-	-	PUNCT
fbem-11066	229	17	bieri	bieri	NOUN
fbem-11066	229	18	-	-	PUNCT
fbem-11066	229	19	denis	denis	PROPN
fbem-11066	229	20	-	-	PUNCT
fbem-11066	229	21	ifz	ifz	NOUN
fbem-11066	229	22	-	-	PUNCT
fbem-11066	229	23	fintech	fintech	NOUN
fbem-11066	229	24	-	-	PUNCT
fbem-11066	229	25	ranking-18053	ranking-18053	VERB
fbem-11066	229	26	0.pdf	0.pdf	NOUN
fbem-11066	229	27	[	[	X
fbem-11066	229	28	3	3	NUM
fbem-11066	229	29	]	]	SYM
fbem-11066	229	30	bettinger	bettinger	NOUN
fbem-11066	229	31	,	,	PUNCT
fbem-11066	229	32	a.	a.	NOUN
fbem-11066	229	33	(	(	PUNCT
fbem-11066	229	34	1972	1972	NUM
fbem-11066	229	35	)	)	PUNCT
fbem-11066	229	36	.	.	PUNCT
fbem-11066	230	1	fintech	fintech	NOUN
fbem-11066	230	2	-	-	PUNCT
fbem-11066	230	3	a	a	DET
fbem-11066	230	4	series	series	NOUN
fbem-11066	230	5	of	of	ADP
fbem-11066	230	6	40	40	NUM
fbem-11066	230	7	time	time	NOUN
fbem-11066	230	8	shared	share	VERB
fbem-11066	230	9	models	model	NOUN
fbem-11066	230	10	used	use	VERB
fbem-11066	230	11	at	at	ADP
fbem-11066	230	12	manufacturers	manufacturers	PROPN
fbem-11066	230	13	hanover	hanover	PROPN
fbem-11066	230	14	trust	trust	PROPN
fbem-11066	230	15	company	company	PROPN
fbem-11066	230	16	.	.	PUNCT
fbem-11066	231	1	interfaces	interface	NOUN
fbem-11066	231	2	,	,	PUNCT
fbem-11066	231	3	2(4	2(4	NUM
fbem-11066	231	4	)	)	PUNCT
fbem-11066	231	5	,	,	PUNCT
fbem-11066	231	6	62	62	NUM
fbem-11066	231	7	-	-	SYM
fbem-11066	231	8	63	63	NUM
fbem-11066	231	9	.	.	PUNCT
fbem-11066	232	1	[	[	X
fbem-11066	232	2	4	4	NUM
fbem-11066	232	3	]	]	X
fbem-11066	232	4	ciocoiu	ciocoiu	NOUN
fbem-11066	232	5	,	,	PUNCT
fbem-11066	232	6	c.	c.	PROPN
fbem-11066	232	7	n.	n.	PROPN
fbem-11066	232	8	(	(	PUNCT
fbem-11066	232	9	2011	2011	NUM
fbem-11066	232	10	)	)	PUNCT
fbem-11066	232	11	.	.	PUNCT
fbem-11066	233	1	integrating	integrate	VERB
fbem-11066	233	2	digital	digital	ADJ
fbem-11066	233	3	economy	economy	NOUN
fbem-11066	233	4	and	and	CCONJ
fbem-11066	233	5	green	green	ADJ
fbem-11066	233	6	economy	economy	NOUN
fbem-11066	233	7	:	:	PUNCT
fbem-11066	233	8	opportunities	opportunity	NOUN
fbem-11066	233	9	for	for	ADP
fbem-11066	233	10	sustainable	sustainable	ADJ
fbem-11066	233	11	development	development	NOUN
fbem-11066	233	12	.	.	PUNCT
fbem-11066	234	1	theoretical	theoretical	ADJ
fbem-11066	234	2	and	and	CCONJ
fbem-11066	234	3	empirical	empirical	ADJ
fbem-11066	234	4	researches	research	NOUN
fbem-11066	234	5	in	in	ADP
fbem-11066	234	6	urban	urban	ADJ
fbem-11066	234	7	management	management	NOUN
fbem-11066	234	8	,	,	PUNCT
fbem-11066	234	9	6(1	6(1	NUM
fbem-11066	234	10	)	)	PUNCT
fbem-11066	234	11	,	,	PUNCT
fbem-11066	234	12	33	33	NUM
fbem-11066	234	13	-	-	SYM
fbem-11066	234	14	43	43	NUM
fbem-11066	234	15	.	.	PUNCT
fbem-11066	235	1	https://www.jstor.org/stable/24873273?seq=1	https://www.jstor.org/stable/24873273?seq=1	NOUN
fbem-11066	236	1	[	[	X
fbem-11066	236	2	5	5	NUM
fbem-11066	236	3	]	]	X
fbem-11066	236	4	cumming	cumming	NOUN
fbem-11066	236	5	,	,	PUNCT
fbem-11066	236	6	d.	d.	PROPN
fbem-11066	236	7	,	,	PUNCT
fbem-11066	236	8	&	&	CCONJ
fbem-11066	236	9	johan	johan	PROPN
fbem-11066	236	10	,	,	PUNCT
fbem-11066	236	11	s.	s.	PROPN
fbem-11066	236	12	(	(	PUNCT
fbem-11066	236	13	2007	2007	NUM
fbem-11066	236	14	)	)	PUNCT
fbem-11066	236	15	.	.	PUNCT
fbem-11066	237	1	the	the	DET
fbem-11066	237	2	internet	internet	NOUN
fbem-11066	237	3	and	and	CCONJ
fbem-11066	237	4	regional	regional	ADJ
fbem-11066	237	5	economic	economic	ADJ
fbem-11066	237	6	development	development	NOUN
fbem-11066	237	7	.	.	PUNCT
fbem-11066	238	1	academy	academy	PROPN
fbem-11066	238	2	of	of	ADP
fbem-11066	238	3	management	management	NOUN
fbem-11066	238	4	proceedings	proceeding	NOUN
fbem-11066	238	5	,	,	PUNCT
fbem-11066	238	6	340	340	NUM
fbem-11066	238	7	2007(1	2007(1	NUM
fbem-11066	238	8	)	)	PUNCT
fbem-11066	238	9	,	,	PUNCT
fbem-11066	238	10	1	1	NUM
fbem-11066	238	11	-	-	SYM
fbem-11066	238	12	6	6	NUM
fbem-11066	238	13	.	.	PUNCT
fbem-11066	238	14	https://doi.org/10.5465/ambpp.2007.26508390	https://doi.org/10.5465/ambpp.2007.26508390	PUNCT
fbem-11066	239	1	[	[	X
fbem-11066	239	2	6	6	NUM
fbem-11066	239	3	]	]	SYM
fbem-11066	239	4	emery	emery	PROPN
fbem-11066	239	5	,	,	PUNCT
fbem-11066	239	6	r.	r.	PROPN
fbem-11066	239	7	f.	f.	PROPN
fbem-11066	239	8	(	(	PUNCT
fbem-11066	239	9	1967	1967	NUM
fbem-11066	239	10	)	)	PUNCT
fbem-11066	239	11	.	.	PUNCT
fbem-11066	240	1	the	the	DET
fbem-11066	240	2	relation	relation	NOUN
fbem-11066	240	3	of	of	ADP
fbem-11066	240	4	exports	export	NOUN
fbem-11066	240	5	and	and	CCONJ
fbem-11066	240	6	economic	economic	ADJ
fbem-11066	240	7	growth	growth	NOUN
fbem-11066	240	8	.	.	PUNCT
fbem-11066	241	1	kyklos	kyklo	NOUN
fbem-11066	241	2	,	,	PUNCT
fbem-11066	241	3	20(4	20(4	NOUN
fbem-11066	241	4	)	)	PUNCT
fbem-11066	241	5	,	,	PUNCT
fbem-11066	241	6	470	470	NUM
fbem-11066	241	7	-	-	SYM
fbem-11066	241	8	486	486	NUM
fbem-11066	241	9	.	.	PUNCT
fbem-11066	242	1	doi.org/10.1111/j.14676435.1967.tb00859.x	doi.org/10.1111/j.14676435.1967.tb00859.x	NOUN
fbem-11066	242	2	[	[	X
fbem-11066	242	3	7	7	NUM
fbem-11066	242	4	]	]	X
fbem-11066	242	5	gomber	gomber	NOUN
fbem-11066	242	6	,	,	PUNCT
fbem-11066	242	7	p.	p.	PROPN
fbem-11066	242	8	,	,	PUNCT
fbem-11066	242	9	koch	koch	PROPN
fbem-11066	242	10	,	,	PUNCT
fbem-11066	242	11	j.-a	j.-a	PROPN
fbem-11066	242	12	.	.	PUNCT
fbem-11066	242	13	,	,	PUNCT
fbem-11066	242	14	&	&	CCONJ
fbem-11066	242	15	siering	siering	NOUN
fbem-11066	242	16	,	,	PUNCT
fbem-11066	242	17	m.	m.	NOUN
fbem-11066	242	18	(	(	PUNCT
fbem-11066	242	19	2017	2017	NUM
fbem-11066	242	20	)	)	PUNCT
fbem-11066	242	21	.	.	PUNCT
fbem-11066	243	1	digital	digital	ADJ
fbem-11066	243	2	finance	finance	NOUN
fbem-11066	243	3	and	and	CCONJ
fbem-11066	243	4	fintech	fintech	NOUN
fbem-11066	243	5	:	:	PUNCT
fbem-11066	243	6	current	current	ADJ
fbem-11066	243	7	research	research	NOUN
fbem-11066	243	8	and	and	CCONJ
fbem-11066	243	9	future	future	ADJ
fbem-11066	243	10	research	research	NOUN
fbem-11066	243	11	directions	direction	NOUN
fbem-11066	243	12	.	.	PUNCT
fbem-11066	244	1	journal	journal	NOUN
fbem-11066	244	2	of	of	ADP
fbem-11066	244	3	business	business	NOUN
fbem-11066	244	4	economics	economic	NOUN
fbem-11066	244	5	,	,	PUNCT
fbem-11066	244	6	87(5	87(5	NUM
fbem-11066	244	7	)	)	PUNCT
fbem-11066	244	8	,	,	PUNCT
fbem-11066	244	9	537–580	537–580	NUM
fbem-11066	244	10	.	.	PUNCT
fbem-11066	245	1	doi:10.1007	doi:10.1007	PROPN
fbem-11066	245	2	/	/	SYM
fbem-11066	245	3	s11573	s11573	PROPN
fbem-11066	245	4	-	-	PUNCT
fbem-11066	245	5	017	017	NUM
fbem-11066	245	6	-	-	PUNCT
fbem-11066	245	7	0852	0852	NUM
fbem-11066	245	8	-	-	PUNCT
fbem-11066	245	9	x	x	SYM
fbem-11066	246	1	[	[	X
fbem-11066	246	2	8	8	NUM
fbem-11066	246	3	]	]	X
fbem-11066	246	4	gan	gan	PROPN
fbem-11066	246	5	,	,	PUNCT
fbem-11066	246	6	l.	l.	PROPN
fbem-11066	246	7	,	,	PUNCT
fbem-11066	246	8	zhang	zhang	PROPN
fbem-11066	246	9	,	,	PUNCT
fbem-11066	246	10	h.	h.	PROPN
fbem-11066	246	11	,	,	PUNCT
fbem-11066	246	12	lu	lu	PROPN
fbem-11066	246	13	,	,	PUNCT
fbem-11066	246	14	t.	t.	PROPN
fbem-11066	246	15	,	,	PUNCT
fbem-11066	246	16	et	et	PROPN
fbem-11066	246	17	al	al	PROPN
fbem-11066	246	18	.	.	PUNCT
fbem-11066	246	19	(	(	PUNCT
fbem-11066	246	20	2021	2021	NUM
fbem-11066	246	21	)	)	PUNCT
fbem-11066	246	22	.	.	PUNCT
fbem-11066	247	1	water	water	NOUN
fbem-11066	247	2	traffic	traffic	NOUN
fbem-11066	247	3	safety	safety	NOUN
fbem-11066	247	4	factors	factor	NOUN
fbem-11066	247	5	based	base	VERB
fbem-11066	247	6	on	on	ADP
fbem-11066	247	7	entropy	entropy	NOUN
fbem-11066	247	8	weight	weight	NOUN
fbem-11066	247	9	method	method	NOUN
fbem-11066	248	1	[	[	X
fbem-11066	248	2	j	j	X
fbem-11066	248	3	]	]	X
fbem-11066	248	4	.	.	PUNCT
fbem-11066	249	1	china	china	PROPN
fbem-11066	249	2	navigation	navigation	PROPN
fbem-11066	249	3	,	,	PUNCT
fbem-11066	249	4	44(2	44(2	NOUN
fbem-11066	249	5	)	)	PUNCT
fbem-11066	249	6	,	,	PUNCT
fbem-11066	249	7	53	53	NUM
fbem-11066	249	8	-	-	SYM
fbem-11066	249	9	58	58	NUM
fbem-11066	249	10	.	.	PUNCT
fbem-11066	250	1	[	[	X
fbem-11066	250	2	9	9	NUM
fbem-11066	250	3	]	]	PUNCT
fbem-11066	250	4	he	he	PRON
fbem-11066	250	5	,	,	PUNCT
fbem-11066	250	6	d.	d.	PROPN
fbem-11066	250	7	,	,	PUNCT
fbem-11066	250	8	leckow	leckow	PROPN
fbem-11066	250	9	,	,	PUNCT
fbem-11066	250	10	r.	r.	PROPN
fbem-11066	250	11	,	,	PUNCT
fbem-11066	250	12	haksar	haksar	PROPN
fbem-11066	250	13	,	,	PUNCT
fbem-11066	250	14	v.	v.	PROPN
fbem-11066	250	15	,	,	PUNCT
fbem-11066	250	16	et	et	PROPN
fbem-11066	250	17	al	al	PROPN
fbem-11066	250	18	.	.	PUNCT
fbem-11066	250	19	(	(	PUNCT
fbem-11066	250	20	2017	2017	NUM
fbem-11066	250	21	)	)	PUNCT
fbem-11066	250	22	.	.	PUNCT
fbem-11066	250	23	fintech	fintech	NOUN
fbem-11066	250	24	and	and	CCONJ
fbem-11066	250	25	finance	finance	NOUN
fbem-11066	250	26	services	service	NOUN
fbem-11066	250	27	:	:	PUNCT
fbem-11066	250	28	initial	initial	ADJ
fbem-11066	250	29	considerations	consideration	NOUN
fbem-11066	251	1	[	[	X
fbem-11066	251	2	r	r	X
fbem-11066	251	3	]	]	PUNCT
fbem-11066	251	4	.	.	PUNCT
fbem-11066	252	1	imf	imf	PROPN
fbem-11066	252	2	staff	staff	NOUN
fbem-11066	252	3	discussion	discussion	NOUN
fbem-11066	252	4	note	note	VERB
fbem-11066	252	5	17/05	17/05	NUM
fbem-11066	252	6	.	.	PUNCT
fbem-11066	253	1	imf	imf	PROPN
fbem-11066	253	2	.	.	PUNCT
fbem-11066	254	1	[	[	X
fbem-11066	254	2	10	10	NUM
fbem-11066	254	3	]	]	SYM
fbem-11066	254	4	huong	huong	PROPN
fbem-11066	254	5	,	,	PUNCT
fbem-11066	254	6	a.	a.	NOUN
fbem-11066	254	7	y.-z	y.-z	PROPN
fbem-11066	254	8	.	.	PUNCT
fbem-11066	254	9	,	,	PUNCT
fbem-11066	254	10	puah	puah	NOUN
fbem-11066	254	11	,	,	PUNCT
fbem-11066	254	12	c.-h	c.-h	PROPN
fbem-11066	254	13	.	.	PROPN
fbem-11066	254	14	,	,	PUNCT
fbem-11066	254	15	&	&	CCONJ
fbem-11066	254	16	chong	chong	PROPN
fbem-11066	254	17	,	,	PUNCT
fbem-11066	254	18	m.-t	m.-t	PROPN
fbem-11066	254	19	.	.	PUNCT
fbem-11066	255	1	(	(	PUNCT
fbem-11066	255	2	2021	2021	NUM
fbem-11066	255	3	)	)	PUNCT
fbem-11066	255	4	.	.	PUNCT
fbem-11066	256	1	embrace	embrace	PROPN
fbem-11066	256	2	fintech	fintech	NOUN
fbem-11066	256	3	in	in	ADP
fbem-11066	256	4	asean	asean	PROPN
fbem-11066	256	5	:	:	PUNCT
fbem-11066	256	6	a	a	DET
fbem-11066	256	7	perception	perception	NOUN
fbem-11066	256	8	through	through	ADP
fbem-11066	256	9	fintech	fintech	NOUN
fbem-11066	256	10	adoption	adoption	NOUN
fbem-11066	256	11	index	index	NOUN
fbem-11066	256	12	.	.	PUNCT
fbem-11066	257	1	research	research	NOUN
fbem-11066	257	2	in	in	ADP
fbem-11066	257	3	world	world	NOUN
fbem-11066	257	4	economy	economy	NOUN
fbem-11066	257	5	,	,	PUNCT
fbem-11066	257	6	12(1	12(1	NUM
fbem-11066	257	7	)	)	PUNCT
fbem-11066	257	8	,	,	PUNCT
fbem-11066	257	9	1	1	X
fbem-11066	257	10	.	.	NUM
fbem-11066	257	11	https://doi.org/10.5430/rwe.v12n1p1	https://doi.org/10.5430/rwe.v12n1p1	PROPN
fbem-11066	257	12	.	.	PUNCT
fbem-11066	258	1	[	[	X
fbem-11066	258	2	11	11	NUM
fbem-11066	258	3	]	]	X
fbem-11066	258	4	hieminga	hieminga	ADV
fbem-11066	258	5	,	,	PUNCT
fbem-11066	258	6	g.	g.	PROPN
fbem-11066	258	7	,	,	PUNCT
fbem-11066	258	8	&	&	CCONJ
fbem-11066	258	9	lande	lande	PROPN
fbem-11066	258	10	,	,	PUNCT
fbem-11066	258	11	f.	f.	PROPN
fbem-11066	258	12	(	(	PUNCT
fbem-11066	258	13	2016	2016	NUM
fbem-11066	258	14	)	)	PUNCT
fbem-11066	258	15	.	.	PUNCT
fbem-11066	259	1	the	the	DET
fbem-11066	259	2	fintech	fintech	NOUN
fbem-11066	259	3	index	index	NOUN
fbem-11066	259	4	:	:	PUNCT
fbem-11066	259	5	assessing	assess	VERB
fbem-11066	259	6	digital	digital	ADJ
fbem-11066	259	7	and	and	CCONJ
fbem-11066	259	8	financial	financial	ADJ
fbem-11066	259	9	inclusion	inclusion	NOUN
fbem-11066	259	10	in	in	ADP
fbem-11066	259	11	developing	develop	VERB
fbem-11066	259	12	and	and	CCONJ
fbem-11066	259	13	emerging	emerge	VERB
fbem-11066	259	14	countries	country	NOUN
fbem-11066	259	15	.	.	PUNCT
fbem-11066	260	1	ing	ing	ADJ
fbem-11066	260	2	economics	economics	PROPN
fbem-11066	260	3	department	department	PROPN
fbem-11066	260	4	.	.	PUNCT
fbem-11066	261	1	https://www.ing.nl/media/ing_ebz_fintech-indexreport_tcm162-116078.pdf	https://www.ing.nl/media/ing_ebz_fintech-indexreport_tcm162-116078.pdf	PUNCT
fbem-11066	262	1	[	[	X
fbem-11066	262	2	12	12	NUM
fbem-11066	262	3	]	]	SYM
fbem-11066	262	4	hu	hu	PROPN
fbem-11066	262	5	,	,	PUNCT
fbem-11066	262	6	s.	s.	PROPN
fbem-11066	262	7	(	(	PUNCT
fbem-11066	262	8	2018	2018	NUM
fbem-11066	262	9	)	)	PUNCT
fbem-11066	262	10	.	.	PUNCT
fbem-11066	263	1	research	research	NOUN
fbem-11066	263	2	on	on	ADP
fbem-11066	263	3	the	the	DET
fbem-11066	263	4	development	development	NOUN
fbem-11066	263	5	level	level	NOUN
fbem-11066	263	6	of	of	ADP
fbem-11066	263	7	china	china	PROPN
fbem-11066	263	8	's	's	PART
fbem-11066	263	9	science	science	NOUN
fbem-11066	263	10	and	and	CCONJ
fbem-11066	263	11	technology	technology	NOUN
fbem-11066	263	12	financial	financial	ADJ
fbem-11066	263	13	center	center	NOUN
fbem-11066	263	14	—	—	PUNCT
fbem-11066	263	15	based	base	VERB
fbem-11066	263	16	on	on	ADP
fbem-11066	263	17	the	the	DET
fbem-11066	263	18	construction	construction	NOUN
fbem-11066	263	19	and	and	CCONJ
fbem-11066	263	20	measurement	measurement	NOUN
fbem-11066	263	21	of	of	ADP
fbem-11066	263	22	the	the	DET
fbem-11066	263	23	index	index	NOUN
fbem-11066	263	24	of	of	ADP
fbem-11066	263	25	science	science	NOUN
fbem-11066	263	26	and	and	CCONJ
fbem-11066	263	27	technology	technology	NOUN
fbem-11066	263	28	financial	financial	ADJ
fbem-11066	263	29	center	center	NOUN
fbem-11066	263	30	.	.	PUNCT
fbem-11066	264	1	journal	journal	NOUN
fbem-11066	264	2	of	of	ADP
fbem-11066	264	3	finance	finance	NOUN
fbem-11066	264	4	and	and	CCONJ
fbem-11066	264	5	economic	economic	ADJ
fbem-11066	264	6	,	,	PUNCT
fbem-11066	264	7	2018(09	2018(09	NUM
fbem-11066	264	8	)	)	PUNCT
fbem-11066	264	9	.	.	PUNCT
fbem-11066	265	1	[	[	X
fbem-11066	265	2	13	13	NUM
fbem-11066	265	3	]	]	SYM
fbem-11066	265	4	han	han	PROPN
fbem-11066	265	5	,	,	PUNCT
fbem-11066	265	6	j.	j.	PROPN
fbem-11066	265	7	,	,	PUNCT
fbem-11066	265	8	zhou	zhou	PROPN
fbem-11066	265	9	,	,	PUNCT
fbem-11066	265	10	q.	q.	PROPN
fbem-11066	265	11	,	,	PUNCT
fbem-11066	265	12	&	&	CCONJ
fbem-11066	265	13	wang	wang	PROPN
fbem-11066	265	14	,	,	PUNCT
fbem-11066	265	15	h.	h.	PROPN
fbem-11066	265	16	(	(	PUNCT
fbem-11066	265	17	2019	2019	NUM
fbem-11066	265	18	)	)	PUNCT
fbem-11066	265	19	.	.	PUNCT
fbem-11066	266	1	technology	technology	NOUN
fbem-11066	266	2	and	and	CCONJ
fbem-11066	266	3	financial	financial	ADJ
fbem-11066	266	4	integration	integration	NOUN
fbem-11066	266	5	risk	risk	NOUN
fbem-11066	266	6	and	and	CCONJ
fbem-11066	266	7	blockchain	blockchain	PROPN
fbem-11066	266	8	technology	technology	PROPN
fbem-11066	266	9	supervision	supervision	NOUN
fbem-11066	266	10	in	in	ADP
fbem-11066	266	11	the	the	DET
fbem-11066	266	12	era	era	NOUN
fbem-11066	266	13	of	of	ADP
fbem-11066	266	14	big	big	ADJ
fbem-11066	266	15	data	datum	NOUN
fbem-11066	266	16	.	.	PUNCT
fbem-11066	267	1	scientific	scientific	ADJ
fbem-11066	267	2	management	management	NOUN
fbem-11066	267	3	research	research	NOUN
fbem-11066	267	4	,	,	PUNCT
fbem-11066	267	5	37(01	37(01	NUM
fbem-11066	267	6	)	)	PUNCT
fbem-11066	267	7	,	,	PUNCT
fbem-11066	267	8	90	90	NUM
fbem-11066	267	9	-	-	SYM
fbem-11066	267	10	93	93	NUM
fbem-11066	267	11	.	.	PUNCT
fbem-11066	268	1	[	[	X
fbem-11066	268	2	14	14	NUM
fbem-11066	268	3	]	]	X
fbem-11066	268	4	luo	luo	PROPN
fbem-11066	268	5	,	,	PUNCT
fbem-11066	268	6	s.	s.	PROPN
fbem-11066	268	7	,	,	PUNCT
fbem-11066	268	8	sun	sun	PROPN
fbem-11066	268	9	,	,	PUNCT
fbem-11066	268	10	y.	y.	PROPN
fbem-11066	268	11	,	,	PUNCT
fbem-11066	268	12	yang	yang	PROPN
fbem-11066	268	13	,	,	PUNCT
fbem-11066	268	14	f.	f.	PROPN
fbem-11066	268	15	,	,	PUNCT
fbem-11066	268	16	&	&	CCONJ
fbem-11066	268	17	zhou	zhou	PROPN
fbem-11066	268	18	,	,	PUNCT
fbem-11066	268	19	g.	g.	PROPN
fbem-11066	268	20	(	(	PUNCT
fbem-11066	268	21	2022	2022	NUM
fbem-11066	268	22	)	)	PUNCT
fbem-11066	268	23	.	.	PUNCT
fbem-11066	269	1	does	do	AUX
fbem-11066	269	2	fintech	fintech	NOUN
fbem-11066	269	3	innovation	innovation	NOUN
fbem-11066	269	4	promote	promote	VERB
fbem-11066	269	5	enterprise	enterprise	NOUN
fbem-11066	269	6	transformation	transformation	NOUN
fbem-11066	269	7	?	?	PUNCT
fbem-11066	270	1	evidence	evidence	NOUN
fbem-11066	270	2	from	from	ADP
fbem-11066	270	3	singapore	singapore	PROPN
fbem-11066	270	4	.	.	PUNCT
fbem-11066	271	1	technology	technology	NOUN
fbem-11066	271	2	in	in	ADP
fbem-11066	271	3	society	society	NOUN
fbem-11066	271	4	,	,	PUNCT
fbem-11066	271	5	68	68	NUM
fbem-11066	271	6	,	,	PUNCT
fbem-11066	271	7	101821	101821	NUM
fbem-11066	271	8	.	.	PUNCT
fbem-11066	272	1	https://doi.org/10.1016/j.techsoc.2021.101821	https://doi.org/10.1016/j.techsoc.2021.101821	PROPN
fbem-11066	272	2	.	.	PUNCT
fbem-11066	273	1	[	[	X
fbem-11066	273	2	15	15	NUM
fbem-11066	273	3	]	]	X
fbem-11066	273	4	larabi	larabi	NOUN
fbem-11066	273	5	,	,	PUNCT
fbem-11066	273	6	a.	a.	PROPN
fbem-11066	273	7	,	,	PUNCT
fbem-11066	273	8	&	&	CCONJ
fbem-11066	273	9	nassour	nassour	PROPN
fbem-11066	273	10	,	,	PUNCT
fbem-11066	273	11	a.	a.	NOUN
fbem-11066	273	12	(	(	PUNCT
fbem-11066	273	13	2021	2021	NUM
fbem-11066	273	14	)	)	PUNCT
fbem-11066	273	15	.	.	PUNCT
fbem-11066	274	1	financial	financial	ADJ
fbem-11066	274	2	development	development	NOUN
fbem-11066	274	3	in	in	ADP
fbem-11066	274	4	emerging	emerge	VERB
fbem-11066	274	5	countries	country	NOUN
fbem-11066	274	6	:	:	PUNCT
fbem-11066	274	7	fintech	fintech	NOUN
fbem-11066	274	8	,	,	PUNCT
fbem-11066	274	9	the	the	DET
fbem-11066	274	10	new	new	ADJ
fbem-11066	274	11	wave	wave	NOUN
fbem-11066	274	12	of	of	ADP
fbem-11066	274	13	development	development	NOUN
fbem-11066	274	14	and	and	CCONJ
fbem-11066	274	15	the	the	DET
fbem-11066	274	16	financial	financial	ADJ
fbem-11066	274	17	future	future	NOUN
fbem-11066	274	18	(	(	PUNCT
fbem-11066	274	19	singapore	singapore	PROPN
fbem-11066	274	20	as	as	ADP
fbem-11066	274	21	a	a	DET
fbem-11066	274	22	model	model	NOUN
fbem-11066	274	23	)	)	PUNCT
fbem-11066	274	24	.	.	PUNCT
fbem-11066	275	1	journal	journal	PROPN
fbem-11066	275	2	of	of	ADP
fbem-11066	275	3	research	research	NOUN
fbem-11066	275	4	in	in	ADP
fbem-11066	275	5	finance	finance	NOUN
fbem-11066	275	6	and	and	CCONJ
fbem-11066	275	7	accounting	accounting	NOUN
fbem-11066	275	8	.	.	PUNCT
fbem-11066	276	1	[	[	X
fbem-11066	276	2	16	16	NUM
fbem-11066	276	3	]	]	X
fbem-11066	276	4	liu	liu	PROPN
fbem-11066	276	5	,	,	PUNCT
fbem-11066	276	6	c.	c.	PROPN
fbem-11066	276	7	,	,	PUNCT
fbem-11066	276	8	fan	fan	PROPN
fbem-11066	276	9	,	,	PUNCT
fbem-11066	276	10	y.	y.	PROPN
fbem-11066	276	11	,	,	PUNCT
fbem-11066	276	12	&	&	CCONJ
fbem-11066	276	13	zhu	zhu	PROPN
fbem-11066	276	14	,	,	PUNCT
fbem-11066	276	15	x.	x.	NOUN
fbem-11066	276	16	(	(	PUNCT
fbem-11066	276	17	2021	2021	NUM
fbem-11066	276	18	)	)	PUNCT
fbem-11066	276	19	.	.	PUNCT
fbem-11066	277	1	fintech	fintech	NOUN
fbem-11066	277	2	index	index	NOUN
fbem-11066	277	3	prediction	prediction	NOUN
fbem-11066	277	4	based	base	VERB
fbem-11066	277	5	on	on	ADP
fbem-11066	277	6	rf	rf	NOUN
fbem-11066	277	7	-	-	PUNCT
fbem-11066	277	8	ga	ga	NOUN
fbem-11066	277	9	-	-	PUNCT
fbem-11066	277	10	dnn	dnn	PROPN
fbem-11066	277	11	algorithm	algorithm	NOUN
fbem-11066	277	12	.	.	PUNCT
fbem-11066	278	1	2021	2021	NUM
fbem-11066	278	2	,	,	PUNCT
fbem-11066	278	3	1	1	NUM
fbem-11066	278	4	-	-	SYM
fbem-11066	278	5	9	9	NUM
fbem-11066	278	6	.	.	NUM
fbem-11066	278	7	https://doi.org/10.1155/2021/3950981	https://doi.org/10.1155/2021/3950981	NOUN
fbem-11066	278	8	.	.	PUNCT
fbem-11066	279	1	[	[	X
fbem-11066	279	2	17	17	NUM
fbem-11066	279	3	]	]	SYM
fbem-11066	279	4	li	li	PROPN
fbem-11066	279	5	,	,	PUNCT
fbem-11066	279	6	z.	z.	PROPN
fbem-11066	279	7	,	,	PUNCT
fbem-11066	279	8	yang	yang	PROPN
fbem-11066	279	9	,	,	PUNCT
fbem-11066	279	10	c.	c.	PROPN
fbem-11066	279	11	,	,	PUNCT
fbem-11066	279	12	&	&	CCONJ
fbem-11066	279	13	huang	huang	PROPN
fbem-11066	279	14	,	,	PUNCT
fbem-11066	279	15	z.	z.	PROPN
fbem-11066	279	16	(	(	PUNCT
fbem-11066	279	17	2022	2022	NUM
fbem-11066	279	18	)	)	PUNCT
fbem-11066	279	19	.	.	PUNCT
fbem-11066	280	1	how	how	SCONJ
fbem-11066	280	2	does	do	AUX
fbem-11066	280	3	the	the	DET
fbem-11066	280	4	fintech	fintech	NOUN
fbem-11066	280	5	sector	sector	NOUN
fbem-11066	280	6	react	react	VERB
fbem-11066	280	7	to	to	ADP
fbem-11066	280	8	signals	signal	NOUN
fbem-11066	280	9	from	from	ADP
fbem-11066	280	10	central	central	ADJ
fbem-11066	280	11	bank	bank	NOUN
fbem-11066	280	12	digital	digital	ADJ
fbem-11066	280	13	currencies	currency	NOUN
fbem-11066	280	14	?	?	PUNCT
fbem-11066	281	1	finance	finance	NOUN
fbem-11066	281	2	research	research	NOUN
fbem-11066	281	3	letters	letter	NOUN
fbem-11066	281	4	,	,	PUNCT
fbem-11066	281	5	50	50	NUM
fbem-11066	281	6	,	,	PUNCT
fbem-11066	281	7	103308	103308	NUM
fbem-11066	281	8	.	.	PUNCT
fbem-11066	282	1	https://doi.org/10.1016/j.frl.2022.103308	https://doi.org/10.1016/j.frl.2022.103308	PROPN
fbem-11066	282	2	.	.	PUNCT
fbem-11066	283	1	[	[	X
fbem-11066	283	2	18	18	NUM
fbem-11066	283	3	]	]	X
fbem-11066	283	4	lin	lin	PROPN
fbem-11066	283	5	,	,	PUNCT
fbem-11066	283	6	l.	l.	PROPN
fbem-11066	283	7	(	(	PUNCT
fbem-11066	283	8	2019	2019	NUM
fbem-11066	283	9	)	)	PUNCT
fbem-11066	283	10	.	.	PUNCT
fbem-11066	284	1	regulating	regulate	VERB
fbem-11066	284	2	fintech	fintech	NOUN
fbem-11066	284	3	:	:	PUNCT
fbem-11066	284	4	the	the	DET
fbem-11066	284	5	case	case	NOUN
fbem-11066	284	6	of	of	ADP
fbem-11066	284	7	singapore	singapore	PROPN
fbem-11066	284	8	.	.	PUNCT
fbem-11066	285	1	ssrn	ssrn	PROPN
fbem-11066	285	2	electronic	electronic	ADJ
fbem-11066	285	3	journal	journal	PROPN
fbem-11066	285	4	.	.	PUNCT
fbem-11066	286	1	https://doi.org/10.2139/ssrn.3481563	https://doi.org/10.2139/ssrn.3481563	PROPN
fbem-11066	286	2	.	.	PUNCT
fbem-11066	287	1	[	[	X
fbem-11066	287	2	19	19	NUM
fbem-11066	287	3	]	]	PUNCT
fbem-11066	287	4	gnirck	gnirck	PROPN
fbem-11066	287	5	,	,	PUNCT
fbem-11066	287	6	m.	m.	NOUN
fbem-11066	287	7	,	,	PUNCT
fbem-11066	287	8	&	&	CCONJ
fbem-11066	287	9	visser	visser	PROPN
fbem-11066	287	10	,	,	PUNCT
fbem-11066	287	11	g.	g.	PROPN
fbem-11066	287	12	(	(	PUNCT
fbem-11066	287	13	2016	2016	NUM
fbem-11066	287	14	)	)	PUNCT
fbem-11066	287	15	.	.	PUNCT
fbem-11066	288	1	singapore	singapore	PROPN
fbem-11066	288	2	,	,	PUNCT
fbem-11066	288	3	the	the	DET
fbem-11066	288	4	fintech	fintech	NOUN
fbem-11066	288	5	hub	hub	NOUN
fbem-11066	288	6	for	for	ADP
fbem-11066	288	7	southeast	southeast	PROPN
fbem-11066	288	8	asia	asia	PROPN
fbem-11066	288	9	.	.	PUNCT
fbem-11066	289	1	in	in	ADP
fbem-11066	289	2	the	the	DET
fbem-11066	289	3	financial	financial	ADJ
fbem-11066	289	4	technology	technology	NOUN
fbem-11066	289	5	handbook	handbook	NOUN
fbem-11066	289	6	for	for	ADP
fbem-11066	289	7	investors	investor	NOUN
fbem-11066	289	8	,	,	PUNCT
fbem-11066	289	9	entrepreneurs	entrepreneur	NOUN
fbem-11066	289	10	and	and	CCONJ
fbem-11066	289	11	visionaries	visionary	NOUN
fbem-11066	289	12	(	(	PUNCT
fbem-11066	289	13	pp	pp	ADJ
fbem-11066	289	14	.	.	PUNCT
fbem-11066	290	1	xx	xx	NUM
fbem-11066	290	2	-	-	PUNCT
fbem-11066	290	3	xx	xx	NUM
fbem-11066	290	4	)	)	PUNCT
fbem-11066	290	5	.	.	PUNCT
fbem-11066	291	1	edited	edit	VERB
fbem-11066	291	2	by	by	ADP
fbem-11066	291	3	s.	s.	PROPN
fbem-11066	291	4	chishti	chishti	PROPN
fbem-11066	291	5	&	&	CCONJ
fbem-11066	291	6	j.	j.	PROPN
fbem-11066	291	7	barberis	barberis	PROPN
fbem-11066	291	8	[	[	X
fbem-11066	291	9	20	20	NUM
fbem-11066	291	10	]	]	SYM
fbem-11066	291	11	merton	merton	PROPN
fbem-11066	291	12	,	,	PUNCT
fbem-11066	291	13	r.	r.	PROPN
fbem-11066	291	14	c.	c.	PROPN
fbem-11066	291	15	(	(	PUNCT
fbem-11066	291	16	1995	1995	NUM
fbem-11066	291	17	)	)	PUNCT
fbem-11066	291	18	.	.	PUNCT
fbem-11066	292	1	a	a	DET
fbem-11066	292	2	functional	functional	ADJ
fbem-11066	292	3	perspective	perspective	NOUN
fbem-11066	292	4	of	of	ADP
fbem-11066	292	5	financial	financial	ADJ
fbem-11066	292	6	intermediation	intermediation	NOUN
fbem-11066	292	7	.	.	PUNCT
fbem-11066	293	1	financial	financial	ADJ
fbem-11066	293	2	management	management	NOUN
fbem-11066	293	3	,	,	PUNCT
fbem-11066	293	4	24(2	24(2	NUM
fbem-11066	293	5	)	)	PUNCT
fbem-11066	293	6	,	,	PUNCT
fbem-11066	293	7	23	23	NUM
fbem-11066	293	8	-	-	SYM
fbem-11066	293	9	41	41	NUM
fbem-11066	293	10	.	.	PUNCT
fbem-11066	294	1	doi:10.2307/3665532	doi:10.2307/3665532	NOUN
fbem-11066	294	2	[	[	X
fbem-11066	294	3	21	21	NUM
fbem-11066	294	4	]	]	SYM
fbem-11066	294	5	narayan	narayan	PROPN
fbem-11066	294	6	,	,	PUNCT
fbem-11066	294	7	s.	s.	PROPN
fbem-11066	294	8	w.	w.	PROPN
fbem-11066	294	9	(	(	PUNCT
fbem-11066	294	10	2019	2019	NUM
fbem-11066	294	11	)	)	PUNCT
fbem-11066	294	12	.	.	PUNCT
fbem-11066	295	1	does	do	VERB
fbem-11066	295	2	fintech	fintech	NOUN
fbem-11066	295	3	matter	matter	NOUN
fbem-11066	295	4	for	for	ADP
fbem-11066	295	5	indonesia	indonesia	PROPN
fbem-11066	295	6	's	's	PART
fbem-11066	295	7	economic	economic	ADJ
fbem-11066	295	8	growth	growth	NOUN
fbem-11066	295	9	?	?	PUNCT
fbem-11066	296	1	buletin	buletin	PROPN
fbem-11066	296	2	ekonomi	ekonomi	PROPN
fbem-11066	296	3	moneter	moneter	PROPN
fbem-11066	296	4	dan	dan	PROPN
fbem-11066	296	5	perbankan,22(4),437	perbankan,22(4),437	PROPN
fbem-11066	296	6	-	-	PUNCT
fbem-11066	296	7	456	456	PROPN
fbem-11066	296	8	.	.	PUNCT
fbem-11066	297	1	doi:10.21098	doi:10.21098	PROPN
fbem-11066	297	2	/	/	SYM
fbem-11066	297	3	bemp.v22i4.1237	bemp.v22i4.1237	PROPN
fbem-11066	297	4	.	.	PUNCT