id	sid	tid	token	lemma	pos
fbem-13189	1	1	frontiers	frontier	NOUN
fbem-13189	1	2	in	in	ADP
fbem-13189	1	3	business	business	NOUN
fbem-13189	1	4	,	,	PUNCT
fbem-13189	1	5	economics	economic	NOUN
fbem-13189	1	6	and	and	CCONJ
fbem-13189	1	7	management	management	NOUN
fbem-13189	1	8	issn	issn	PROPN
fbem-13189	1	9	:	:	PUNCT
fbem-13189	1	10	2766	2766	NUM
fbem-13189	1	11	-	-	PUNCT
fbem-13189	1	12	824x	824x	NUM
fbem-13189	1	13	|	|	ADJ
fbem-13189	1	14	vol	vol	NOUN
fbem-13189	1	15	.	.	PUNCT
fbem-13189	2	1	11	11	NUM
fbem-13189	2	2	,	,	PUNCT
fbem-13189	2	3	no	no	INTJ
fbem-13189	2	4	.	.	NOUN
fbem-13189	2	5	3	3	NUM
fbem-13189	2	6	,	,	PUNCT
fbem-13189	3	1	2023	2023	NUM
fbem-13189	3	2	72	72	NUM
fbem-13189	3	3	empirical	empirical	ADJ
fbem-13189	3	4	analysis	analysis	NOUN
fbem-13189	3	5	of	of	ADP
fbem-13189	3	6	factors	factor	NOUN
fbem-13189	3	7	influencing	influence	VERB
fbem-13189	3	8	rmb	rmb	PROPN
fbem-13189	3	9	exchange	exchange	NOUN
fbem-13189	3	10	rate	rate	NOUN
fbem-13189	3	11	volatility	volatility	NOUN
fbem-13189	3	12	in	in	ADP
fbem-13189	3	13	the	the	DET
fbem-13189	3	14	context	context	NOUN
fbem-13189	3	15	of	of	ADP
fbem-13189	3	16	rmb	rmb	PROPN
fbem-13189	3	17	internationalization	internationalization	NOUN
fbem-13189	3	18	yiwen	yiwen	PROPN
fbem-13189	3	19	diao1	diao1	PROPN
fbem-13189	3	20	,	,	PUNCT
fbem-13189	3	21	*	*	PROPN
fbem-13189	3	22	1business	1business	NUM
fbem-13189	3	23	school	school	NOUN
fbem-13189	3	24	,	,	PUNCT
fbem-13189	3	25	university	university	NOUN
fbem-13189	3	26	of	of	ADP
fbem-13189	3	27	jinan	jinan	PROPN
fbem-13189	3	28	,	,	PUNCT
fbem-13189	3	29	jinan	jinan	PROPN
fbem-13189	3	30	,	,	PUNCT
fbem-13189	3	31	shandong	shandong	PROPN
fbem-13189	3	32	,	,	PUNCT
fbem-13189	3	33	250002	250002	NUM
fbem-13189	3	34	,	,	PUNCT
fbem-13189	3	35	china	china	PROPN
fbem-13189	3	36	*	*	PUNCT
fbem-13189	3	37	corresponding	correspond	VERB
fbem-13189	3	38	author	author	NOUN
fbem-13189	3	39	’s	’s	PART
fbem-13189	3	40	e	e	NOUN
fbem-13189	3	41	-	-	NOUN
fbem-13189	3	42	mail	mail	NOUN
fbem-13189	3	43	:	:	PUNCT
fbem-13189	3	44	ada033011@outlook.com	ada033011@outlook.com	PROPN
fbem-13189	3	45	abstract	abstract	PROPN
fbem-13189	3	46	:	:	PUNCT
fbem-13189	3	47	this	this	DET
fbem-13189	3	48	paper	paper	NOUN
fbem-13189	3	49	selects	select	NOUN
fbem-13189	3	50	and	and	CCONJ
fbem-13189	3	51	collates	collate	VERB
fbem-13189	3	52	data	datum	NOUN
fbem-13189	3	53	on	on	ADP
fbem-13189	3	54	exchange	exchange	NOUN
fbem-13189	3	55	rate	rate	NOUN
fbem-13189	3	56	volatility	volatility	NOUN
fbem-13189	3	57	and	and	CCONJ
fbem-13189	3	58	its	its	PRON
fbem-13189	3	59	related	related	ADJ
fbem-13189	3	60	influencing	influence	VERB
fbem-13189	3	61	factors	factor	NOUN
fbem-13189	3	62	in	in	ADP
fbem-13189	3	63	china	china	PROPN
fbem-13189	3	64	from	from	ADP
fbem-13189	3	65	2002	2002	NUM
fbem-13189	3	66	to	to	ADP
fbem-13189	3	67	2022	2022	NUM
fbem-13189	3	68	as	as	ADP
fbem-13189	3	69	a	a	DET
fbem-13189	3	70	research	research	NOUN
fbem-13189	3	71	sample	sample	NOUN
fbem-13189	3	72	,	,	PUNCT
fbem-13189	3	73	explores	explore	VERB
fbem-13189	3	74	the	the	DET
fbem-13189	3	75	causes	cause	NOUN
fbem-13189	3	76	of	of	ADP
fbem-13189	3	77	rmb	rmb	NOUN
fbem-13189	3	78	exchange	exchange	NOUN
fbem-13189	3	79	rate	rate	NOUN
fbem-13189	3	80	volatility	volatility	NOUN
fbem-13189	3	81	in	in	ADP
fbem-13189	3	82	the	the	DET
fbem-13189	3	83	context	context	NOUN
fbem-13189	3	84	of	of	ADP
fbem-13189	3	85	rmb	rmb	NOUN
fbem-13189	3	86	internationalisation	internationalisation	NOUN
fbem-13189	3	87	,	,	PUNCT
fbem-13189	3	88	and	and	CCONJ
fbem-13189	3	89	proposes	propose	VERB
fbem-13189	3	90	policy	policy	NOUN
fbem-13189	3	91	recommendations	recommendation	NOUN
fbem-13189	3	92	on	on	ADP
fbem-13189	3	93	how	how	SCONJ
fbem-13189	3	94	to	to	PART
fbem-13189	3	95	maintain	maintain	VERB
fbem-13189	3	96	exchange	exchange	NOUN
fbem-13189	3	97	rate	rate	NOUN
fbem-13189	3	98	stability	stability	NOUN
fbem-13189	3	99	in	in	ADP
fbem-13189	3	100	the	the	DET
fbem-13189	3	101	process	process	NOUN
fbem-13189	3	102	of	of	ADP
fbem-13189	3	103	rmb	rmb	NOUN
fbem-13189	3	104	internationalisation	internationalisation	NOUN
fbem-13189	3	105	.	.	PUNCT
fbem-13189	4	1	using	use	VERB
fbem-13189	4	2	rmb	rmb	PROPN
fbem-13189	4	3	exchange	exchange	NOUN
fbem-13189	4	4	rate	rate	NOUN
fbem-13189	4	5	volatility	volatility	NOUN
fbem-13189	4	6	as	as	ADP
fbem-13189	4	7	the	the	DET
fbem-13189	4	8	explanatory	explanatory	ADJ
fbem-13189	4	9	variable	variable	NOUN
fbem-13189	4	10	,	,	PUNCT
fbem-13189	4	11	the	the	DET
fbem-13189	4	12	following	follow	VERB
fbem-13189	4	13	results	result	NOUN
fbem-13189	4	14	were	be	AUX
fbem-13189	4	15	obtained	obtain	VERB
fbem-13189	4	16	by	by	ADP
fbem-13189	4	17	building	build	VERB
fbem-13189	4	18	a	a	DET
fbem-13189	4	19	multiple	multiple	ADJ
fbem-13189	4	20	linear	linear	ADJ
fbem-13189	4	21	regression	regression	NOUN
fbem-13189	4	22	model	model	NOUN
fbem-13189	4	23	and	and	CCONJ
fbem-13189	4	24	introducing	introduce	VERB
fbem-13189	4	25	conditional	conditional	ADJ
fbem-13189	4	26	variables	variable	NOUN
fbem-13189	4	27	to	to	PART
fbem-13189	4	28	indicate	indicate	VERB
fbem-13189	4	29	the	the	DET
fbem-13189	4	30	degree	degree	NOUN
fbem-13189	4	31	of	of	ADP
fbem-13189	4	32	rmb	rmb	NOUN
fbem-13189	4	33	internationalisation	internationalisation	NOUN
fbem-13189	4	34	:	:	PUNCT
fbem-13189	4	35	the	the	DET
fbem-13189	4	36	amount	amount	NOUN
fbem-13189	4	37	of	of	ADP
fbem-13189	4	38	foreign	foreign	ADJ
fbem-13189	4	39	exchange	exchange	NOUN
fbem-13189	4	40	reserves	reserve	NOUN
fbem-13189	4	41	,	,	PUNCT
fbem-13189	4	42	the	the	DET
fbem-13189	4	43	sino	sino	ADJ
fbem-13189	4	44	-	-	PUNCT
fbem-13189	4	45	us	us	PROPN
fbem-13189	4	46	interest	interest	NOUN
fbem-13189	4	47	rate	rate	NOUN
fbem-13189	4	48	differential	differential	NOUN
fbem-13189	4	49	and	and	CCONJ
fbem-13189	4	50	the	the	DET
fbem-13189	4	51	balance	balance	NOUN
fbem-13189	4	52	of	of	ADP
fbem-13189	4	53	payments	payment	NOUN
fbem-13189	4	54	differential	differential	NOUN
fbem-13189	4	55	have	have	VERB
fbem-13189	4	56	significant	significant	ADJ
fbem-13189	4	57	effects	effect	NOUN
fbem-13189	4	58	on	on	ADP
fbem-13189	4	59	rmb	rmb	NOUN
fbem-13189	4	60	exchange	exchange	NOUN
fbem-13189	4	61	rate	rate	NOUN
fbem-13189	4	62	volatility	volatility	NOUN
fbem-13189	4	63	,	,	PUNCT
fbem-13189	4	64	while	while	SCONJ
fbem-13189	4	65	foreign	foreign	ADJ
fbem-13189	4	66	direct	direct	ADJ
fbem-13189	4	67	investment	investment	NOUN
fbem-13189	4	68	,	,	PUNCT
fbem-13189	4	69	the	the	DET
fbem-13189	4	70	relative	relative	ADJ
fbem-13189	4	71	inflation	inflation	NOUN
fbem-13189	4	72	rate	rate	NOUN
fbem-13189	4	73	between	between	ADP
fbem-13189	4	74	china	china	PROPN
fbem-13189	4	75	and	and	CCONJ
fbem-13189	4	76	the	the	DET
fbem-13189	4	77	us	us	PROPN
fbem-13189	4	78	and	and	CCONJ
fbem-13189	4	79	the	the	DET
fbem-13189	4	80	gdp	gdp	NOUN
fbem-13189	4	81	growth	growth	NOUN
fbem-13189	4	82	rate	rate	NOUN
fbem-13189	4	83	have	have	VERB
fbem-13189	4	84	insignificant	insignificant	ADJ
fbem-13189	4	85	effects	effect	NOUN
fbem-13189	4	86	on	on	ADP
fbem-13189	4	87	exchange	exchange	NOUN
fbem-13189	4	88	rate	rate	NOUN
fbem-13189	4	89	volatility	volatility	NOUN
fbem-13189	4	90	.	.	PUNCT
fbem-13189	5	1	keywords	keyword	NOUN
fbem-13189	5	2	:	:	PUNCT
fbem-13189	5	3	rmb	rmb	NOUN
fbem-13189	5	4	exchange	exchange	NOUN
fbem-13189	5	5	rate	rate	NOUN
fbem-13189	5	6	volatility	volatility	NOUN
fbem-13189	5	7	,	,	PUNCT
fbem-13189	5	8	influencing	influence	VERB
fbem-13189	5	9	factors	factor	NOUN
fbem-13189	5	10	,	,	PUNCT
fbem-13189	5	11	multiple	multiple	ADJ
fbem-13189	5	12	linear	linear	NOUN
fbem-13189	5	13	regression	regression	NOUN
fbem-13189	5	14	,	,	PUNCT
fbem-13189	5	15	rmb	rmb	NOUN
fbem-13189	5	16	internationalization	internationalization	NOUN
fbem-13189	5	17	,	,	PUNCT
fbem-13189	5	18	conditional	conditional	ADJ
fbem-13189	5	19	variables	variable	NOUN
fbem-13189	5	20	.	.	PUNCT
fbem-13189	6	1	1	1	X
fbem-13189	6	2	.	.	X
fbem-13189	6	3	introduction	introduction	NOUN
fbem-13189	6	4	at	at	ADP
fbem-13189	6	5	present	present	ADJ
fbem-13189	6	6	,	,	PUNCT
fbem-13189	6	7	against	against	ADP
fbem-13189	6	8	the	the	DET
fbem-13189	6	9	backdrop	backdrop	NOUN
fbem-13189	6	10	of	of	ADP
fbem-13189	6	11	globalisation	globalisation	NOUN
fbem-13189	6	12	trends	trend	NOUN
fbem-13189	6	13	and	and	CCONJ
fbem-13189	6	14	economic	economic	ADJ
fbem-13189	6	15	integration	integration	NOUN
fbem-13189	6	16	,	,	PUNCT
fbem-13189	6	17	win	win	NOUN
fbem-13189	6	18	-	-	PUNCT
fbem-13189	6	19	win	win	NOUN
fbem-13189	6	20	cooperation	cooperation	NOUN
fbem-13189	6	21	is	be	AUX
fbem-13189	6	22	gradually	gradually	ADV
fbem-13189	6	23	becoming	become	VERB
fbem-13189	6	24	the	the	DET
fbem-13189	6	25	new	new	ADJ
fbem-13189	6	26	normal	normal	ADJ
fbem-13189	6	27	in	in	ADP
fbem-13189	6	28	international	international	ADJ
fbem-13189	6	29	relations	relation	NOUN
fbem-13189	6	30	.	.	PUNCT
fbem-13189	7	1	and	and	CCONJ
fbem-13189	7	2	under	under	ADP
fbem-13189	7	3	the	the	DET
fbem-13189	7	4	trend	trend	NOUN
fbem-13189	7	5	of	of	ADP
fbem-13189	7	6	reforming	reform	VERB
fbem-13189	7	7	the	the	DET
fbem-13189	7	8	current	current	ADJ
fbem-13189	7	9	international	international	ADJ
fbem-13189	7	10	monetary	monetary	ADJ
fbem-13189	7	11	system	system	NOUN
fbem-13189	7	12	,	,	PUNCT
fbem-13189	7	13	an	an	DET
fbem-13189	7	14	important	important	ADJ
fbem-13189	7	15	direction	direction	NOUN
fbem-13189	7	16	of	of	ADP
fbem-13189	7	17	world	world	NOUN
fbem-13189	7	18	development	development	NOUN
fbem-13189	7	19	is	be	AUX
fbem-13189	7	20	to	to	PART
fbem-13189	7	21	achieve	achieve	VERB
fbem-13189	7	22	international	international	ADJ
fbem-13189	7	23	monetary	monetary	ADJ
fbem-13189	7	24	diversification	diversification	NOUN
fbem-13189	7	25	.	.	PUNCT
fbem-13189	8	1	therefore	therefore	ADV
fbem-13189	8	2	,	,	PUNCT
fbem-13189	8	3	in	in	ADP
fbem-13189	8	4	order	order	NOUN
fbem-13189	8	5	to	to	PART
fbem-13189	8	6	maintain	maintain	VERB
fbem-13189	8	7	stable	stable	ADJ
fbem-13189	8	8	global	global	ADJ
fbem-13189	8	9	economic	economic	ADJ
fbem-13189	8	10	and	and	CCONJ
fbem-13189	8	11	financial	financial	ADJ
fbem-13189	8	12	development	development	NOUN
fbem-13189	8	13	in	in	ADP
fbem-13189	8	14	the	the	DET
fbem-13189	8	15	future	future	NOUN
fbem-13189	8	16	,	,	PUNCT
fbem-13189	8	17	the	the	DET
fbem-13189	8	18	current	current	ADJ
fbem-13189	8	19	international	international	ADJ
fbem-13189	8	20	monetary	monetary	ADJ
fbem-13189	8	21	system	system	NOUN
fbem-13189	8	22	must	must	AUX
fbem-13189	8	23	be	be	AUX
fbem-13189	8	24	fundamentally	fundamentally	ADV
fbem-13189	8	25	reformed	reform	VERB
fbem-13189	8	26	,	,	PUNCT
fbem-13189	8	27	so	so	SCONJ
fbem-13189	8	28	as	as	SCONJ
fbem-13189	8	29	to	to	PART
fbem-13189	8	30	diversify	diversify	VERB
fbem-13189	8	31	the	the	DET
fbem-13189	8	32	systemic	systemic	ADJ
fbem-13189	8	33	risks	risk	NOUN
fbem-13189	8	34	arising	arise	VERB
fbem-13189	8	35	from	from	ADP
fbem-13189	8	36	the	the	DET
fbem-13189	8	37	international	international	ADJ
fbem-13189	8	38	monetary	monetary	ADJ
fbem-13189	8	39	system	system	NOUN
fbem-13189	8	40	's	's	PART
fbem-13189	8	41	over	over	NOUN
fbem-13189	8	42	-	-	PUNCT
fbem-13189	8	43	reliance	reliance	NOUN
fbem-13189	8	44	on	on	ADP
fbem-13189	8	45	the	the	DET
fbem-13189	8	46	us	us	PROPN
fbem-13189	8	47	dollar	dollar	NOUN
fbem-13189	9	1	[	[	X
fbem-13189	9	2	1	1	NUM
fbem-13189	9	3	]	]	PUNCT
fbem-13189	9	4	.	.	PUNCT
fbem-13189	10	1	therefore	therefore	ADV
fbem-13189	10	2	,	,	PUNCT
fbem-13189	10	3	along	along	ADP
fbem-13189	10	4	with	with	ADP
fbem-13189	10	5	the	the	DET
fbem-13189	10	6	continued	continue	VERB
fbem-13189	10	7	growth	growth	NOUN
fbem-13189	10	8	of	of	ADP
fbem-13189	10	9	the	the	DET
fbem-13189	10	10	chinese	chinese	ADJ
fbem-13189	10	11	economy	economy	NOUN
fbem-13189	10	12	and	and	CCONJ
fbem-13189	10	13	the	the	DET
fbem-13189	10	14	liberalisation	liberalisation	NOUN
fbem-13189	10	15	of	of	ADP
fbem-13189	10	16	external	external	ADJ
fbem-13189	10	17	financial	financial	ADJ
fbem-13189	10	18	controls	control	NOUN
fbem-13189	10	19	,	,	PUNCT
fbem-13189	10	20	the	the	DET
fbem-13189	10	21	motivation	motivation	NOUN
fbem-13189	10	22	and	and	CCONJ
fbem-13189	10	23	demand	demand	NOUN
fbem-13189	10	24	for	for	ADP
fbem-13189	10	25	the	the	DET
fbem-13189	10	26	internationalisation	internationalisation	NOUN
fbem-13189	10	27	of	of	ADP
fbem-13189	10	28	the	the	DET
fbem-13189	10	29	rmb	rmb	NOUN
fbem-13189	10	30	has	have	AUX
fbem-13189	10	31	emerged	emerge	VERB
fbem-13189	10	32	.	.	PUNCT
fbem-13189	11	1	since	since	SCONJ
fbem-13189	11	2	the	the	DET
fbem-13189	11	3	reform	reform	NOUN
fbem-13189	11	4	and	and	CCONJ
fbem-13189	11	5	opening	opening	NOUN
fbem-13189	11	6	up	up	ADP
fbem-13189	11	7	of	of	ADP
fbem-13189	11	8	china	china	PROPN
fbem-13189	11	9	in	in	ADP
fbem-13189	11	10	1978	1978	NUM
fbem-13189	11	11	,	,	PUNCT
fbem-13189	11	12	china	china	PROPN
fbem-13189	11	13	's	's	PART
fbem-13189	11	14	capital	capital	NOUN
fbem-13189	11	15	market	market	NOUN
fbem-13189	11	16	has	have	AUX
fbem-13189	11	17	gradually	gradually	ADV
fbem-13189	11	18	opened	open	VERB
fbem-13189	11	19	up	up	ADP
fbem-13189	11	20	and	and	CCONJ
fbem-13189	11	21	international	international	ADJ
fbem-13189	11	22	capital	capital	NOUN
fbem-13189	11	23	flows	flow	NOUN
fbem-13189	11	24	have	have	AUX
fbem-13189	11	25	been	be	AUX
fbem-13189	11	26	frequent	frequent	ADJ
fbem-13189	11	27	,	,	PUNCT
fbem-13189	11	28	and	and	CCONJ
fbem-13189	11	29	a	a	DET
fbem-13189	11	30	large	large	ADJ
fbem-13189	11	31	number	number	NOUN
fbem-13189	11	32	of	of	ADP
fbem-13189	11	33	foreign	foreign	ADJ
fbem-13189	11	34	companies	company	NOUN
fbem-13189	11	35	have	have	AUX
fbem-13189	11	36	started	start	VERB
fbem-13189	11	37	to	to	PART
fbem-13189	11	38	invest	invest	VERB
fbem-13189	11	39	and	and	CCONJ
fbem-13189	11	40	set	set	VERB
fbem-13189	11	41	up	up	ADP
fbem-13189	11	42	factories	factory	NOUN
fbem-13189	11	43	in	in	ADP
fbem-13189	11	44	china	china	PROPN
fbem-13189	11	45	,	,	PUNCT
fbem-13189	11	46	boosting	boost	VERB
fbem-13189	11	47	domestic	domestic	ADJ
fbem-13189	11	48	economic	economic	ADJ
fbem-13189	11	49	development	development	NOUN
fbem-13189	11	50	.	.	PUNCT
fbem-13189	12	1	for	for	ADP
fbem-13189	12	2	china	china	PROPN
fbem-13189	12	3	's	's	PART
fbem-13189	12	4	foreign	foreign	ADJ
fbem-13189	12	5	trade	trade	NOUN
fbem-13189	12	6	transactions	transaction	NOUN
fbem-13189	12	7	,	,	PUNCT
fbem-13189	12	8	balance	balance	NOUN
fbem-13189	12	9	of	of	ADP
fbem-13189	12	10	payments	payment	NOUN
fbem-13189	12	11	of	of	ADP
fbem-13189	12	12	the	the	DET
fbem-13189	12	13	country	country	NOUN
fbem-13189	12	14	has	have	AUX
fbem-13189	12	15	been	be	AUX
fbem-13189	12	16	in	in	ADP
fbem-13189	12	17	a	a	DET
fbem-13189	12	18	double	double	ADJ
fbem-13189	12	19	surplus	surplus	NOUN
fbem-13189	12	20	for	for	ADP
fbem-13189	12	21	a	a	DET
fbem-13189	12	22	long	long	ADJ
fbem-13189	12	23	time	time	NOUN
fbem-13189	12	24	,	,	PUNCT
fbem-13189	12	25	while	while	SCONJ
fbem-13189	12	26	facing	face	VERB
fbem-13189	12	27	the	the	DET
fbem-13189	12	28	risk	risk	NOUN
fbem-13189	12	29	of	of	ADP
fbem-13189	12	30	exchange	exchange	NOUN
fbem-13189	12	31	rate	rate	NOUN
fbem-13189	12	32	volatility	volatility	NOUN
fbem-13189	12	33	[	[	X
fbem-13189	12	34	2	2	NUM
fbem-13189	12	35	]	]	PUNCT
fbem-13189	12	36	.	.	PUNCT
fbem-13189	13	1	after	after	ADP
fbem-13189	13	2	the	the	DET
fbem-13189	13	3	"	"	PUNCT
fbem-13189	13	4	811	811	NUM
fbem-13189	13	5	"	"	PUNCT
fbem-13189	13	6	exchange	exchange	NOUN
fbem-13189	13	7	reform	reform	NOUN
fbem-13189	13	8	in	in	ADP
fbem-13189	13	9	2015	2015	NUM
fbem-13189	13	10	,	,	PUNCT
fbem-13189	13	11	the	the	DET
fbem-13189	13	12	central	central	ADJ
fbem-13189	13	13	bank	bank	NOUN
fbem-13189	13	14	allowed	allow	VERB
fbem-13189	13	15	the	the	DET
fbem-13189	13	16	exchange	exchange	NOUN
fbem-13189	13	17	rate	rate	NOUN
fbem-13189	13	18	to	to	PART
fbem-13189	13	19	float	float	VERB
fbem-13189	13	20	wider	wider	ADV
fbem-13189	13	21	and	and	CCONJ
fbem-13189	13	22	gradually	gradually	ADV
fbem-13189	13	23	let	let	VERB
fbem-13189	13	24	the	the	DET
fbem-13189	13	25	market	market	NOUN
fbem-13189	13	26	play	play	VERB
fbem-13189	13	27	a	a	DET
fbem-13189	13	28	decisive	decisive	ADJ
fbem-13189	13	29	role	role	NOUN
fbem-13189	13	30	in	in	ADP
fbem-13189	13	31	exchange	exchange	NOUN
fbem-13189	13	32	rate	rate	NOUN
fbem-13189	13	33	formation	formation	NOUN
fbem-13189	13	34	,	,	PUNCT
fbem-13189	13	35	which	which	PRON
fbem-13189	13	36	exacerbated	exacerbate	VERB
fbem-13189	13	37	the	the	DET
fbem-13189	13	38	instability	instability	NOUN
fbem-13189	13	39	of	of	ADP
fbem-13189	13	40	the	the	DET
fbem-13189	13	41	rmb	rmb	PROPN
fbem-13189	13	42	exchange	exchange	NOUN
fbem-13189	13	43	rate	rate	NOUN
fbem-13189	13	44	,	,	PUNCT
fbem-13189	13	45	resulting	result	VERB
fbem-13189	13	46	in	in	ADP
fbem-13189	13	47	the	the	DET
fbem-13189	13	48	rmb	rmb	PROPN
fbem-13189	13	49	exchange	exchange	NOUN
fbem-13189	13	50	rate	rate	NOUN
fbem-13189	13	51	being	be	AUX
fbem-13189	13	52	more	more	ADV
fbem-13189	13	53	vulnerable	vulnerable	ADJ
fbem-13189	13	54	to	to	ADP
fbem-13189	13	55	external	external	ADJ
fbem-13189	13	56	economic	economic	ADJ
fbem-13189	13	57	influences	influence	NOUN
fbem-13189	13	58	[	[	X
fbem-13189	13	59	3	3	NUM
fbem-13189	13	60	]	]	PUNCT
fbem-13189	13	61	.	.	PUNCT
fbem-13189	14	1	2022	2022	NUM
fbem-13189	14	2	in	in	ADP
fbem-13189	14	3	may	may	PROPN
fbem-13189	14	4	,	,	PUNCT
fbem-13189	14	5	the	the	DET
fbem-13189	14	6	imf	imf	PROPN
fbem-13189	14	7	maintained	maintain	VERB
fbem-13189	14	8	the	the	DET
fbem-13189	14	9	rmb	rmb	NOUN
fbem-13189	14	10	as	as	ADP
fbem-13189	14	11	the	the	DET
fbem-13189	14	12	third	third	ADV
fbem-13189	14	13	largest	large	ADJ
fbem-13189	14	14	currency	currency	NOUN
fbem-13189	14	15	in	in	ADP
fbem-13189	14	16	the	the	DET
fbem-13189	14	17	sdr	sdr	PROPN
fbem-13189	14	18	basket	basket	NOUN
fbem-13189	14	19	.	.	PUNCT
fbem-13189	15	1	sdr	sdr	PROPN
fbem-13189	15	2	basket	basket	NOUN
fbem-13189	15	3	as	as	ADP
fbem-13189	15	4	the	the	DET
fbem-13189	15	5	third	third	ADJ
fbem-13189	15	6	most	most	ADV
fbem-13189	15	7	weighted	weighted	ADJ
fbem-13189	15	8	currency	currency	NOUN
fbem-13189	15	9	,	,	PUNCT
fbem-13189	15	10	while	while	SCONJ
fbem-13189	15	11	adjusting	adjust	VERB
fbem-13189	15	12	its	its	PRON
fbem-13189	15	13	weight	weight	NOUN
fbem-13189	15	14	upwards	upwards	ADV
fbem-13189	15	15	by	by	ADP
fbem-13189	15	16	1.36	1.36	NUM
fbem-13189	15	17	percentage	percentage	NOUN
fbem-13189	15	18	points	point	NOUN
fbem-13189	15	19	.	.	PUNCT
fbem-13189	16	1	the	the	DET
fbem-13189	16	2	upward	upward	ADJ
fbem-13189	16	3	adjustment	adjustment	NOUN
fbem-13189	16	4	of	of	ADP
fbem-13189	16	5	the	the	DET
fbem-13189	16	6	rmb	rmb	NOUN
fbem-13189	16	7	's	's	PART
fbem-13189	16	8	currency	currency	NOUN
fbem-13189	16	9	weighting	weighting	NOUN
fbem-13189	16	10	in	in	ADP
fbem-13189	16	11	the	the	DET
fbem-13189	16	12	sdr	sdr	PROPN
fbem-13189	16	13	basket	basket	NOUN
fbem-13189	16	14	is	be	AUX
fbem-13189	16	15	a	a	DET
fbem-13189	16	16	recognition	recognition	NOUN
fbem-13189	16	17	by	by	ADP
fbem-13189	16	18	the	the	DET
fbem-13189	16	19	international	international	ADJ
fbem-13189	16	20	community	community	NOUN
fbem-13189	16	21	of	of	ADP
fbem-13189	16	22	the	the	DET
fbem-13189	16	23	results	result	NOUN
fbem-13189	16	24	of	of	ADP
fbem-13189	16	25	china	china	PROPN
fbem-13189	16	26	's	's	PART
fbem-13189	16	27	continued	continue	VERB
fbem-13189	16	28	financial	financial	ADJ
fbem-13189	16	29	liberalisation	liberalisation	NOUN
fbem-13189	16	30	and	and	CCONJ
fbem-13189	16	31	an	an	DET
fbem-13189	16	32	important	important	ADJ
fbem-13189	16	33	development	development	NOUN
fbem-13189	16	34	in	in	ADP
fbem-13189	16	35	the	the	DET
fbem-13189	16	36	internationalisation	internationalisation	NOUN
fbem-13189	16	37	of	of	ADP
fbem-13189	16	38	the	the	DET
fbem-13189	16	39	rmb	rmb	NOUN
fbem-13189	16	40	[	[	X
fbem-13189	16	41	4	4	NUM
fbem-13189	16	42	]	]	PUNCT
fbem-13189	16	43	.	.	PUNCT
fbem-13189	17	1	however	however	ADV
fbem-13189	17	2	,	,	PUNCT
fbem-13189	17	3	meanwhile	meanwhile	ADV
fbem-13189	17	4	,	,	PUNCT
fbem-13189	17	5	with	with	ADP
fbem-13189	17	6	the	the	DET
fbem-13189	17	7	continuous	continuous	ADJ
fbem-13189	17	8	opening	opening	NOUN
fbem-13189	17	9	of	of	ADP
fbem-13189	17	10	china	china	PROPN
fbem-13189	17	11	's	's	PART
fbem-13189	17	12	capital	capital	NOUN
fbem-13189	17	13	account	account	NOUN
fbem-13189	17	14	,	,	PUNCT
fbem-13189	17	15	the	the	DET
fbem-13189	17	16	continuous	continuous	ADJ
fbem-13189	17	17	development	development	NOUN
fbem-13189	17	18	of	of	ADP
fbem-13189	17	19	rmb	rmb	PROPN
fbem-13189	17	20	internationalisation	internationalisation	NOUN
fbem-13189	17	21	has	have	AUX
fbem-13189	17	22	amplified	amplify	VERB
fbem-13189	17	23	the	the	DET
fbem-13189	17	24	uncertainty	uncertainty	NOUN
fbem-13189	17	25	of	of	ADP
fbem-13189	17	26	various	various	ADJ
fbem-13189	17	27	influencing	influence	VERB
fbem-13189	17	28	factors	factor	NOUN
fbem-13189	17	29	in	in	ADP
fbem-13189	17	30	the	the	DET
fbem-13189	17	31	global	global	ADJ
fbem-13189	17	32	economic	economic	ADJ
fbem-13189	17	33	environment	environment	NOUN
fbem-13189	17	34	,	,	PUNCT
fbem-13189	17	35	thus	thus	ADV
fbem-13189	17	36	putting	put	VERB
fbem-13189	17	37	higher	high	ADJ
fbem-13189	17	38	demands	demand	NOUN
fbem-13189	17	39	on	on	ADP
fbem-13189	17	40	exchange	exchange	NOUN
fbem-13189	17	41	rate	rate	NOUN
fbem-13189	17	42	stability	stability	NOUN
fbem-13189	17	43	,	,	PUNCT
fbem-13189	17	44	and	and	CCONJ
fbem-13189	17	45	coupled	couple	VERB
fbem-13189	17	46	with	with	ADP
fbem-13189	17	47	the	the	DET
fbem-13189	17	48	continued	continue	VERB
fbem-13189	17	49	volatility	volatility	NOUN
fbem-13189	17	50	of	of	ADP
fbem-13189	17	51	the	the	DET
fbem-13189	17	52	international	international	ADJ
fbem-13189	17	53	situation	situation	NOUN
fbem-13189	17	54	and	and	CCONJ
fbem-13189	17	55	the	the	DET
fbem-13189	17	56	influence	influence	NOUN
fbem-13189	17	57	of	of	ADP
fbem-13189	17	58	international	international	ADJ
fbem-13189	17	59	lobbyists	lobbyist	NOUN
fbem-13189	17	60	waiting	wait	VERB
fbem-13189	17	61	for	for	ADP
fbem-13189	17	62	an	an	DET
fbem-13189	17	63	opportunity	opportunity	NOUN
fbem-13189	17	64	to	to	PART
fbem-13189	17	65	arbitrage	arbitrage	VERB
fbem-13189	17	66	,	,	PUNCT
fbem-13189	17	67	the	the	DET
fbem-13189	17	68	rmb	rmb	PROPN
fbem-13189	17	69	exchange	exchange	NOUN
fbem-13189	17	70	rate	rate	NOUN
fbem-13189	17	71	has	have	AUX
fbem-13189	17	72	experienced	experience	VERB
fbem-13189	17	73	frequent	frequent	ADJ
fbem-13189	17	74	fluctuations	fluctuation	NOUN
fbem-13189	17	75	.	.	PUNCT
fbem-13189	18	1	in	in	ADP
fbem-13189	18	2	the	the	DET
fbem-13189	18	3	long	long	ADJ
fbem-13189	18	4	term	term	NOUN
fbem-13189	18	5	,	,	PUNCT
fbem-13189	18	6	the	the	DET
fbem-13189	18	7	twoway	twoway	NOUN
fbem-13189	18	8	normalized	normalize	VERB
fbem-13189	18	9	volatility	volatility	NOUN
fbem-13189	18	10	of	of	ADP
fbem-13189	18	11	the	the	DET
fbem-13189	18	12	rmb	rmb	NOUN
fbem-13189	18	13	is	be	AUX
fbem-13189	18	14	the	the	DET
fbem-13189	18	15	main	main	ADJ
fbem-13189	18	16	tone	tone	NOUN
fbem-13189	18	17	of	of	ADP
fbem-13189	18	18	the	the	DET
fbem-13189	18	19	exchange	exchange	NOUN
fbem-13189	18	20	rate	rate	NOUN
fbem-13189	18	21	trend	trend	NOUN
fbem-13189	18	22	.	.	PUNCT
fbem-13189	19	1	as	as	ADP
fbem-13189	19	2	an	an	DET
fbem-13189	19	3	important	important	ADJ
fbem-13189	19	4	embodiment	embodiment	NOUN
fbem-13189	19	5	of	of	ADP
fbem-13189	19	6	china	china	PROPN
fbem-13189	19	7	's	's	PART
fbem-13189	19	8	external	external	ADJ
fbem-13189	19	9	value	value	NOUN
fbem-13189	19	10	,	,	PUNCT
fbem-13189	19	11	the	the	DET
fbem-13189	19	12	stability	stability	NOUN
fbem-13189	19	13	of	of	ADP
fbem-13189	19	14	the	the	DET
fbem-13189	19	15	rmb	rmb	PROPN
fbem-13189	19	16	exchange	exchange	NOUN
fbem-13189	19	17	rate	rate	NOUN
fbem-13189	19	18	is	be	AUX
fbem-13189	19	19	crucial	crucial	ADJ
fbem-13189	19	20	to	to	ADP
fbem-13189	19	21	the	the	DET
fbem-13189	19	22	lifeblood	lifeblood	NOUN
fbem-13189	19	23	of	of	ADP
fbem-13189	19	24	the	the	DET
fbem-13189	19	25	national	national	ADJ
fbem-13189	19	26	economy	economy	NOUN
fbem-13189	19	27	.	.	PUNCT
fbem-13189	20	1	therefore	therefore	ADV
fbem-13189	20	2	,	,	PUNCT
fbem-13189	20	3	in	in	ADP
fbem-13189	20	4	the	the	DET
fbem-13189	20	5	current	current	ADJ
fbem-13189	20	6	context	context	NOUN
fbem-13189	20	7	of	of	ADP
fbem-13189	20	8	rmb	rmb	NOUN
fbem-13189	20	9	internationalisation	internationalisation	NOUN
fbem-13189	20	10	,	,	PUNCT
fbem-13189	20	11	maintain	maintain	VERB
fbem-13189	20	12	the	the	DET
fbem-13189	20	13	stability	stability	NOUN
fbem-13189	20	14	of	of	ADP
fbem-13189	20	15	china	china	PROPN
fbem-13189	20	16	international	international	PROPN
fbem-13189	20	17	exchange	exchange	NOUN
fbem-13189	20	18	rate	rate	NOUN
fbem-13189	20	19	is	be	AUX
fbem-13189	20	20	not	not	PART
fbem-13189	20	21	only	only	ADV
fbem-13189	20	22	important	important	ADJ
fbem-13189	20	23	to	to	PART
fbem-13189	20	24	stabilize	stabilize	VERB
fbem-13189	20	25	the	the	DET
fbem-13189	20	26	domestic	domestic	ADJ
fbem-13189	20	27	economy	economy	NOUN
fbem-13189	20	28	,	,	PUNCT
fbem-13189	20	29	but	but	CCONJ
fbem-13189	20	30	also	also	ADV
fbem-13189	20	31	to	to	ADP
fbem-13189	20	32	the	the	DET
fbem-13189	20	33	security	security	NOUN
fbem-13189	20	34	and	and	CCONJ
fbem-13189	20	35	stability	stability	NOUN
fbem-13189	20	36	of	of	ADP
fbem-13189	20	37	the	the	DET
fbem-13189	20	38	world	world	NOUN
fbem-13189	20	39	economy	economy	NOUN
fbem-13189	20	40	plays	play	VERB
fbem-13189	20	41	an	an	DET
fbem-13189	20	42	important	important	ADJ
fbem-13189	20	43	role	role	NOUN
fbem-13189	21	1	[	[	X
fbem-13189	21	2	5	5	NUM
fbem-13189	21	3	]	]	PUNCT
fbem-13189	21	4	.	.	PUNCT
fbem-13189	22	1	based	base	VERB
fbem-13189	22	2	on	on	ADP
fbem-13189	22	3	the	the	DET
fbem-13189	22	4	above	above	ADJ
fbem-13189	22	5	reality	reality	NOUN
fbem-13189	22	6	and	and	CCONJ
fbem-13189	22	7	background	background	NOUN
fbem-13189	22	8	,	,	PUNCT
fbem-13189	22	9	this	this	DET
fbem-13189	22	10	paper	paper	NOUN
fbem-13189	22	11	will	will	AUX
fbem-13189	22	12	take	take	VERB
fbem-13189	22	13	the	the	DET
fbem-13189	22	14	us	us	PROPN
fbem-13189	22	15	dollar	dollar	NOUN
fbem-13189	22	16	to	to	ADP
fbem-13189	22	17	rmb	rmb	PROPN
fbem-13189	22	18	exchange	exchange	NOUN
fbem-13189	22	19	rate	rate	NOUN
fbem-13189	22	20	from	from	ADP
fbem-13189	22	21	2002	2002	NUM
fbem-13189	22	22	to	to	ADP
fbem-13189	22	23	2022	2022	NUM
fbem-13189	22	24	as	as	ADP
fbem-13189	22	25	the	the	DET
fbem-13189	22	26	base	base	NOUN
fbem-13189	22	27	point	point	NOUN
fbem-13189	22	28	,	,	PUNCT
fbem-13189	22	29	select	select	VERB
fbem-13189	22	30	six	six	NUM
fbem-13189	22	31	quantifiable	quantifiable	ADJ
fbem-13189	22	32	economic	economic	ADJ
fbem-13189	22	33	variables	variable	NOUN
fbem-13189	22	34	,	,	PUNCT
fbem-13189	22	35	establish	establish	VERB
fbem-13189	22	36	a	a	DET
fbem-13189	22	37	multiple	multiple	ADJ
fbem-13189	22	38	linear	linear	ADJ
fbem-13189	22	39	regression	regression	NOUN
fbem-13189	22	40	model	model	NOUN
fbem-13189	22	41	,	,	PUNCT
fbem-13189	22	42	and	and	CCONJ
fbem-13189	22	43	according	accord	VERB
fbem-13189	22	44	to	to	ADP
fbem-13189	22	45	previous	previous	ADJ
fbem-13189	22	46	studies	study	NOUN
fbem-13189	22	47	,	,	PUNCT
fbem-13189	22	48	the	the	DET
fbem-13189	22	49	key	key	ADJ
fbem-13189	22	50	influencing	influence	VERB
fbem-13189	22	51	factors	factor	NOUN
fbem-13189	22	52	of	of	ADP
fbem-13189	22	53	rmb	rmb	NOUN
fbem-13189	22	54	exchange	exchange	NOUN
fbem-13189	22	55	rate	rate	NOUN
fbem-13189	22	56	fluctuations	fluctuation	NOUN
fbem-13189	22	57	under	under	ADP
fbem-13189	22	58	the	the	DET
fbem-13189	22	59	background	background	NOUN
fbem-13189	22	60	of	of	ADP
fbem-13189	22	61	rmb	rmb	PROPN
fbem-13189	22	62	internationalization	internationalization	NOUN
fbem-13189	22	63	are	be	AUX
fbem-13189	22	64	further	far	ADV
fbem-13189	22	65	investigated	investigate	VERB
fbem-13189	22	66	,	,	PUNCT
fbem-13189	22	67	and	and	CCONJ
fbem-13189	22	68	policy	policy	NOUN
fbem-13189	22	69	suggestions	suggestion	NOUN
fbem-13189	22	70	for	for	ADP
fbem-13189	22	71	maintaining	maintain	VERB
fbem-13189	22	72	rmb	rmb	NOUN
fbem-13189	22	73	exchange	exchange	NOUN
fbem-13189	22	74	rate	rate	NOUN
fbem-13189	22	75	stability	stability	NOUN
fbem-13189	22	76	are	be	AUX
fbem-13189	22	77	put	put	VERB
fbem-13189	22	78	forward	forward	ADV
fbem-13189	22	79	.	.	PUNCT
fbem-13189	23	1	2	2	X
fbem-13189	23	2	.	.	X
fbem-13189	23	3	empirical	empirical	ADJ
fbem-13189	23	4	analysis	analysis	NOUN
fbem-13189	23	5	of	of	ADP
fbem-13189	23	6	factors	factor	NOUN
fbem-13189	23	7	influencing	influence	VERB
fbem-13189	23	8	rmb	rmb	PROPN
fbem-13189	23	9	exchange	exchange	NOUN
fbem-13189	23	10	rate	rate	NOUN
fbem-13189	23	11	volatility	volatility	NOUN
fbem-13189	23	12	2.1	2.1	NUM
fbem-13189	23	13	.	.	PUNCT
fbem-13189	24	1	sample	sample	NOUN
fbem-13189	24	2	selection	selection	NOUN
fbem-13189	24	3	and	and	CCONJ
fbem-13189	24	4	data	datum	NOUN
fbem-13189	24	5	sources	source	NOUN
fbem-13189	24	6	this	this	DET
fbem-13189	24	7	paper	paper	NOUN
fbem-13189	24	8	selects	select	VERB
fbem-13189	24	9	quarterly	quarterly	ADJ
fbem-13189	24	10	data	datum	NOUN
fbem-13189	24	11	of	of	ADP
fbem-13189	24	12	the	the	DET
fbem-13189	24	13	us	us	PROPN
fbem-13189	24	14	dollar	dollar	NOUN
fbem-13189	24	15	to	to	ADP
fbem-13189	24	16	rmb	rmb	PROPN
fbem-13189	24	17	exchange	exchange	NOUN
fbem-13189	24	18	rate	rate	NOUN
fbem-13189	24	19	from	from	ADP
fbem-13189	24	20	2002	2002	NUM
fbem-13189	24	21	to	to	ADP
fbem-13189	24	22	2022	2022	NUM
fbem-13189	24	23	,	,	PUNCT
fbem-13189	24	24	calculates	calculate	VERB
fbem-13189	24	25	the	the	DET
fbem-13189	24	26	standard	standard	ADJ
fbem-13189	24	27	deviation	deviation	NOUN
fbem-13189	24	28	of	of	ADP
fbem-13189	24	29	the	the	DET
fbem-13189	24	30	exchange	exchange	NOUN
fbem-13189	24	31	rate	rate	NOUN
fbem-13189	24	32	to	to	PART
fbem-13189	24	33	represent	represent	VERB
fbem-13189	24	34	the	the	DET
fbem-13189	24	35	fluctuation	fluctuation	NOUN
fbem-13189	24	36	of	of	ADP
fbem-13189	24	37	73	73	NUM
fbem-13189	24	38	rmb	rmb	PROPN
fbem-13189	24	39	exchange	exchange	NOUN
fbem-13189	24	40	rate	rate	NOUN
fbem-13189	24	41	,	,	PUNCT
fbem-13189	24	42	and	and	CCONJ
fbem-13189	24	43	it	it	PRON
fbem-13189	24	44	is	be	AUX
fbem-13189	24	45	used	use	VERB
fbem-13189	24	46	for	for	ADP
fbem-13189	24	47	the	the	DET
fbem-13189	24	48	empirical	empirical	ADJ
fbem-13189	24	49	analysis	analysis	NOUN
fbem-13189	24	50	of	of	ADP
fbem-13189	24	51	explanatory	explanatory	ADJ
fbem-13189	24	52	variables	variable	NOUN
fbem-13189	24	53	.	.	PUNCT
fbem-13189	25	1	secondly	secondly	ADV
fbem-13189	25	2	,	,	PUNCT
fbem-13189	25	3	according	accord	VERB
fbem-13189	25	4	to	to	ADP
fbem-13189	25	5	china	china	PROPN
fbem-13189	25	6	's	's	PART
fbem-13189	25	7	current	current	ADJ
fbem-13189	25	8	economic	economic	ADJ
fbem-13189	25	9	situation	situation	NOUN
fbem-13189	25	10	,	,	PUNCT
fbem-13189	25	11	the	the	DET
fbem-13189	25	12	us	us	PROPN
fbem-13189	25	13	-	-	PUNCT
fbem-13189	25	14	china	china	PROPN
fbem-13189	25	15	spread	spread	NOUN
fbem-13189	25	16	(	(	PUNCT
fbem-13189	25	17	ucs	ucs	PROPN
fbem-13189	25	18	)	)	PUNCT
fbem-13189	25	19	,	,	PUNCT
fbem-13189	25	20	uschina	uschina	NOUN
fbem-13189	25	21	relative	relative	ADJ
fbem-13189	25	22	inflation	inflation	NOUN
fbem-13189	25	23	rate	rate	NOUN
fbem-13189	25	24	(	(	PUNCT
fbem-13189	25	25	uccpi	uccpi	NOUN
fbem-13189	25	26	)	)	PUNCT
fbem-13189	25	27	,	,	PUNCT
fbem-13189	25	28	gdp	gdp	NOUN
fbem-13189	25	29	growth	growth	NOUN
fbem-13189	25	30	rate	rate	NOUN
fbem-13189	25	31	(	(	PUNCT
fbem-13189	25	32	gdpr	gdpr	NOUN
fbem-13189	25	33	)	)	PUNCT
fbem-13189	25	34	,	,	PUNCT
fbem-13189	25	35	foreign	foreign	ADJ
fbem-13189	25	36	direct	direct	ADJ
fbem-13189	25	37	investment	investment	NOUN
fbem-13189	25	38	(	(	PUNCT
fbem-13189	25	39	fdi	fdi	NOUN
fbem-13189	25	40	)	)	PUNCT
fbem-13189	25	41	,	,	PUNCT
fbem-13189	25	42	foreign	foreign	ADJ
fbem-13189	25	43	exchange	exchange	NOUN
fbem-13189	25	44	reserves	reserve	NOUN
fbem-13189	25	45	(	(	PUNCT
fbem-13189	25	46	fer	fer	PROPN
fbem-13189	25	47	)	)	PUNCT
fbem-13189	25	48	and	and	CCONJ
fbem-13189	25	49	balance	balance	NOUN
fbem-13189	25	50	of	of	ADP
fbem-13189	25	51	payments	payment	NOUN
fbem-13189	25	52	(	(	PUNCT
fbem-13189	25	53	bop	bop	INTJ
fbem-13189	25	54	)	)	PUNCT
fbem-13189	25	55	are	be	AUX
fbem-13189	25	56	selected	select	VERB
fbem-13189	25	57	as	as	ADP
fbem-13189	25	58	explanatory	explanatory	ADJ
fbem-13189	25	59	variables	variable	NOUN
fbem-13189	25	60	,	,	PUNCT
fbem-13189	25	61	where	where	SCONJ
fbem-13189	25	62	the	the	DET
fbem-13189	25	63	us	us	PROPN
fbem-13189	25	64	-	-	PUNCT
fbem-13189	25	65	china	china	PROPN
fbem-13189	25	66	spread	spread	NOUN
fbem-13189	25	67	is	be	AUX
fbem-13189	25	68	the	the	DET
fbem-13189	25	69	difference	difference	NOUN
fbem-13189	25	70	between	between	ADP
fbem-13189	25	71	china	china	PROPN
fbem-13189	25	72	's	's	PART
fbem-13189	25	73	10	10	NUM
fbem-13189	25	74	-	-	PUNCT
fbem-13189	25	75	year	year	NOUN
fbem-13189	25	76	treasury	treasury	NOUN
fbem-13189	25	77	yield	yield	NOUN
fbem-13189	25	78	and	and	CCONJ
fbem-13189	25	79	the	the	DET
fbem-13189	25	80	us	us	PROPN
fbem-13189	25	81	10	10	NUM
fbem-13189	25	82	-	-	PUNCT
fbem-13189	25	83	year	year	NOUN
fbem-13189	25	84	treasury	treasury	NOUN
fbem-13189	25	85	yield	yield	NOUN
fbem-13189	25	86	.	.	PUNCT
fbem-13189	26	1	meanwhile	meanwhile	ADV
fbem-13189	26	2	,	,	PUNCT
fbem-13189	26	3	this	this	DET
fbem-13189	26	4	paper	paper	NOUN
fbem-13189	26	5	introduces	introduce	VERB
fbem-13189	26	6	a	a	DET
fbem-13189	26	7	conditional	conditional	ADJ
fbem-13189	26	8	variable	variable	NOUN
fbem-13189	26	9	(	(	PUNCT
fbem-13189	26	10	rmbi	rmbi	NOUN
fbem-13189	26	11	)	)	PUNCT
fbem-13189	26	12	in	in	ADP
fbem-13189	26	13	the	the	DET
fbem-13189	26	14	model	model	NOUN
fbem-13189	26	15	to	to	PART
fbem-13189	26	16	represent	represent	VERB
fbem-13189	26	17	the	the	DET
fbem-13189	26	18	degree	degree	NOUN
fbem-13189	26	19	of	of	ADP
fbem-13189	26	20	rmb	rmb	NOUN
fbem-13189	26	21	internationalisation	internationalisation	NOUN
fbem-13189	26	22	before	before	ADP
fbem-13189	26	23	q4	q4	PROPN
fbem-13189	26	24	2016	2016	NUM
fbem-13189	26	25	(	(	PUNCT
fbem-13189	26	26	rmbi=0	rmbi=0	PROPN
fbem-13189	26	27	)	)	PUNCT
fbem-13189	26	28	and	and	CCONJ
fbem-13189	26	29	q4	q4	PROPN
fbem-13189	26	30	2016	2016	NUM
fbem-13189	26	31	and	and	CCONJ
fbem-13189	26	32	beyond	beyond	ADP
fbem-13189	26	33	(	(	PUNCT
fbem-13189	26	34	rmbi=1	rmbi=1	NOUN
fbem-13189	26	35	)	)	PUNCT
fbem-13189	26	36	,	,	PUNCT
fbem-13189	26	37	based	base	VERB
fbem-13189	26	38	on	on	ADP
fbem-13189	26	39	the	the	DET
fbem-13189	26	40	rmb	rmb	PROPN
fbem-13189	26	41	internationalisation	internationalisation	NOUN
fbem-13189	26	42	index	index	NOUN
fbem-13189	26	43	and	and	CCONJ
fbem-13189	26	44	the	the	DET
fbem-13189	26	45	development	development	NOUN
fbem-13189	26	46	history	history	NOUN
fbem-13189	26	47	of	of	ADP
fbem-13189	26	48	rmb	rmb	NOUN
fbem-13189	26	49	internationalisation	internationalisation	NOUN
fbem-13189	26	50	.	.	PUNCT
fbem-13189	27	1	the	the	DET
fbem-13189	27	2	main	main	ADJ
fbem-13189	27	3	sources	source	NOUN
fbem-13189	27	4	of	of	ADP
fbem-13189	27	5	data	datum	NOUN
fbem-13189	27	6	in	in	ADP
fbem-13189	27	7	this	this	DET
fbem-13189	27	8	paper	paper	NOUN
fbem-13189	27	9	are	be	AUX
fbem-13189	27	10	as	as	SCONJ
fbem-13189	27	11	follows	follow	VERB
fbem-13189	27	12	:	:	PUNCT
fbem-13189	27	13	national	national	ADJ
fbem-13189	27	14	bureau	bureau	PROPN
fbem-13189	27	15	of	of	ADP
fbem-13189	27	16	statistics	statistic	NOUN
fbem-13189	27	17	,	,	PUNCT
fbem-13189	27	18	wind	wind	NOUN
fbem-13189	27	19	database	database	NOUN
fbem-13189	27	20	,	,	PUNCT
fbem-13189	27	21	wiego	wiego	ADJ
fbem-13189	27	22	database	database	NOUN
fbem-13189	27	23	,	,	PUNCT
fbem-13189	27	24	china	china	PROPN
fbem-13189	27	25	foreign	foreign	PROPN
fbem-13189	27	26	economic	economic	ADJ
fbem-13189	27	27	and	and	CCONJ
fbem-13189	27	28	trade	trade	NOUN
fbem-13189	27	29	yearbook	yearbook	NOUN
fbem-13189	27	30	,	,	PUNCT
fbem-13189	27	31	and	and	CCONJ
fbem-13189	27	32	institute	institute	PROPN
fbem-13189	27	33	of	of	ADP
fbem-13189	27	34	international	international	ADJ
fbem-13189	27	35	monetary	monetary	ADJ
fbem-13189	27	36	studies	study	NOUN
fbem-13189	27	37	,	,	PUNCT
fbem-13189	27	38	renmin	renmin	PROPN
fbem-13189	27	39	university	university	PROPN
fbem-13189	27	40	of	of	ADP
fbem-13189	27	41	china	china	PROPN
fbem-13189	27	42	.	.	PUNCT
fbem-13189	28	1	the	the	DET
fbem-13189	28	2	following	follow	VERB
fbem-13189	28	3	table	table	NOUN
fbem-13189	28	4	1	1	NUM
fbem-13189	28	5	shows	show	VERB
fbem-13189	28	6	the	the	DET
fbem-13189	28	7	descriptive	descriptive	ADJ
fbem-13189	28	8	statistics	statistic	NOUN
fbem-13189	28	9	of	of	ADP
fbem-13189	28	10	each	each	DET
fbem-13189	28	11	variable	variable	NOUN
fbem-13189	28	12	.	.	PUNCT
fbem-13189	29	1	table	table	NOUN
fbem-13189	29	2	1	1	NUM
fbem-13189	29	3	.	.	PUNCT
fbem-13189	29	4	descriptive	descriptive	ADJ
fbem-13189	29	5	statistics	statistic	NOUN
fbem-13189	29	6	for	for	ADP
fbem-13189	29	7	each	each	DET
fbem-13189	29	8	variable	variable	ADJ
fbem-13189	29	9	variable	variable	NOUN
fbem-13189	29	10	obs	ob	NOUN
fbem-13189	29	11	mean	mean	VERB
fbem-13189	29	12	std	std	PROPN
fbem-13189	29	13	.	.	PROPN
fbem-13189	30	1	dev	dev	PROPN
fbem-13189	30	2	.	.	PUNCT
fbem-13189	30	3	min	min	PROPN
fbem-13189	30	4	max	max	PROPN
fbem-13189	30	5	ucer	ucer	NOUN
fbem-13189	30	6	84	84	NUM
fbem-13189	30	7	7.023	7.023	NUM
fbem-13189	30	8	0.744	0.744	NUM
fbem-13189	30	9	6.12	6.12	NUM
fbem-13189	30	10	8.28	8.28	NUM
fbem-13189	30	11	ucs	ucs	NOUN
fbem-13189	30	12	84	84	NUM
fbem-13189	30	13	0.475	0.475	NUM
fbem-13189	30	14	1.143	1.143	NUM
fbem-13189	30	15	-2.54	-2.54	NUM
fbem-13189	30	16	2.37	2.37	NUM
fbem-13189	30	17	uccpi	uccpi	ADJ
fbem-13189	30	18	84	84	NUM
fbem-13189	30	19	-0.115	-0.115	SYM
fbem-13189	30	20	2.267	2.267	NUM
fbem-13189	30	21	-7	-7	NUM
fbem-13189	30	22	4.3	4.3	NUM
fbem-13189	30	23	gdpr	gdpr	PROPN
fbem-13189	30	24	84	84	NUM
fbem-13189	30	25	8.619	8.619	NUM
fbem-13189	30	26	2.956	2.956	NUM
fbem-13189	30	27	0.4	0.4	NUM
fbem-13189	30	28	18.7	18.7	NUM
fbem-13189	30	29	fdi	fdi	NOUN
fbem-13189	30	30	84	84	NUM
fbem-13189	30	31	1852.422	1852.422	NUM
fbem-13189	30	32	588.478	588.478	NUM
fbem-13189	30	33	826.06	826.06	NUM
fbem-13189	30	34	3752.72	3752.72	NUM
fbem-13189	30	35	fer	fer	NOUN
fbem-13189	30	36	84	84	NUM
fbem-13189	30	37	159662.14	159662.14	NUM
fbem-13189	30	38	72110.257	72110.257	NUM
fbem-13189	30	39	18838.4	18838.4	NUM
fbem-13189	30	40	245907.3	245907.3	NUM
fbem-13189	30	41	bop	bop	NOUN
fbem-13189	30	42	84	84	NUM
fbem-13189	30	43	4938.719	4938.719	NUM
fbem-13189	30	44	2765.972	2765.972	NUM
fbem-13189	30	45	1037.5	1037.5	NUM
fbem-13189	30	46	14552.09	14552.09	NUM
fbem-13189	30	47	rmbi	rmbi	NOUN
fbem-13189	30	48	84	84	NUM
fbem-13189	30	49	0.31	0.31	NUM
fbem-13189	30	50	0.465	0.465	NUM
fbem-13189	30	51	0	0	NUM
fbem-13189	30	52	1	1	NUM
fbem-13189	30	53	2.2	2.2	NUM
fbem-13189	30	54	.	.	PUNCT
fbem-13189	31	1	model	model	NOUN
fbem-13189	31	2	setting	setting	NOUN
fbem-13189	31	3	and	and	CCONJ
fbem-13189	31	4	empirical	empirical	ADJ
fbem-13189	31	5	analysis	analysis	NOUN
fbem-13189	31	6	2.2.1	2.2.1	NUM
fbem-13189	31	7	.	.	PUNCT
fbem-13189	31	8	basic	basic	ADJ
fbem-13189	31	9	model	model	NOUN
fbem-13189	31	10	to	to	PART
fbem-13189	31	11	synthesize	synthesize	VERB
fbem-13189	31	12	the	the	DET
fbem-13189	31	13	above	above	ADJ
fbem-13189	31	14	analysis	analysis	NOUN
fbem-13189	31	15	,	,	PUNCT
fbem-13189	31	16	the	the	DET
fbem-13189	31	17	study	study	NOUN
fbem-13189	31	18	uses	use	VERB
fbem-13189	31	19	the	the	DET
fbem-13189	31	20	us	us	PROPN
fbem-13189	31	21	dollar	dollar	NOUN
fbem-13189	31	22	to	to	ADP
fbem-13189	31	23	rmb	rmb	PROPN
fbem-13189	31	24	exchange	exchange	NOUN
fbem-13189	31	25	rate	rate	NOUN
fbem-13189	31	26	as	as	ADP
fbem-13189	31	27	the	the	DET
fbem-13189	31	28	explanatory	explanatory	ADJ
fbem-13189	31	29	variable	variable	NOUN
fbem-13189	31	30	,	,	PUNCT
fbem-13189	31	31	the	the	DET
fbem-13189	31	32	us	us	PROPN
fbem-13189	31	33	-	-	PUNCT
fbem-13189	31	34	china	china	PROPN
fbem-13189	31	35	interest	interest	NOUN
fbem-13189	31	36	rate	rate	PROPN
fbem-13189	31	37	differential	differential	NOUN
fbem-13189	31	38	(	(	PUNCT
fbem-13189	31	39	ucs	ucs	PROPN
fbem-13189	31	40	)	)	PUNCT
fbem-13189	31	41	,	,	PUNCT
fbem-13189	31	42	the	the	DET
fbem-13189	31	43	us	us	PROPN
fbem-13189	31	44	-	-	PUNCT
fbem-13189	31	45	china	china	PROPN
fbem-13189	31	46	relative	relative	ADJ
fbem-13189	31	47	inflation	inflation	NOUN
fbem-13189	31	48	rate	rate	NOUN
fbem-13189	31	49	(	(	PUNCT
fbem-13189	31	50	uccpi	uccpi	NOUN
fbem-13189	31	51	)	)	PUNCT
fbem-13189	31	52	,	,	PUNCT
fbem-13189	31	53	the	the	DET
fbem-13189	31	54	gdp	gdp	NOUN
fbem-13189	31	55	growth	growth	NOUN
fbem-13189	31	56	rate	rate	NOUN
fbem-13189	31	57	(	(	PUNCT
fbem-13189	31	58	gdpr	gdpr	NOUN
fbem-13189	31	59	)	)	PUNCT
fbem-13189	31	60	,	,	PUNCT
fbem-13189	31	61	foreign	foreign	ADJ
fbem-13189	31	62	direct	direct	ADJ
fbem-13189	31	63	investment	investment	NOUN
fbem-13189	31	64	(	(	PUNCT
fbem-13189	31	65	fdi	fdi	NOUN
fbem-13189	31	66	)	)	PUNCT
fbem-13189	31	67	,	,	PUNCT
fbem-13189	31	68	foreign	foreign	ADJ
fbem-13189	31	69	exchange	exchange	NOUN
fbem-13189	31	70	reserves	reserve	NOUN
fbem-13189	31	71	(	(	PUNCT
fbem-13189	31	72	fer	fer	PROPN
fbem-13189	31	73	)	)	PUNCT
fbem-13189	31	74	and	and	CCONJ
fbem-13189	31	75	balance	balance	NOUN
fbem-13189	31	76	of	of	ADP
fbem-13189	31	77	payments	payment	NOUN
fbem-13189	31	78	(	(	PUNCT
fbem-13189	31	79	bop	bop	INTJ
fbem-13189	31	80	)	)	PUNCT
fbem-13189	31	81	as	as	ADP
fbem-13189	31	82	the	the	DET
fbem-13189	31	83	main	main	ADJ
fbem-13189	31	84	explanatory	explanatory	ADJ
fbem-13189	31	85	variables	variable	NOUN
fbem-13189	31	86	,	,	PUNCT
fbem-13189	31	87	and	and	CCONJ
fbem-13189	31	88	introduces	introduce	VERB
fbem-13189	31	89	the	the	DET
fbem-13189	31	90	conditional	conditional	ADJ
fbem-13189	31	91	variable	variable	NOUN
fbem-13189	31	92	(	(	PUNCT
fbem-13189	31	93	rmbi	rmbi	NOUN
fbem-13189	31	94	)	)	PUNCT
fbem-13189	31	95	to	to	PART
fbem-13189	31	96	represent	represent	VERB
fbem-13189	31	97	rmbi	rmbi	NOUN
fbem-13189	31	98	is	be	AUX
fbem-13189	31	99	introduced	introduce	VERB
fbem-13189	31	100	to	to	PART
fbem-13189	31	101	represent	represent	VERB
fbem-13189	31	102	the	the	DET
fbem-13189	31	103	degree	degree	NOUN
fbem-13189	31	104	of	of	ADP
fbem-13189	31	105	rmb	rmb	NOUN
fbem-13189	31	106	internationalization	internationalization	NOUN
fbem-13189	31	107	,	,	PUNCT
fbem-13189	31	108	and	and	CCONJ
fbem-13189	31	109	the	the	DET
fbem-13189	31	110	random	random	ADJ
fbem-13189	31	111	error	error	NOUN
fbem-13189	31	112	term	term	NOUN
fbem-13189	31	113	u	u	NOUN
fbem-13189	31	114	is	be	AUX
fbem-13189	31	115	introduced	introduce	VERB
fbem-13189	31	116	as	as	ADP
fbem-13189	31	117	a	a	DET
fbem-13189	31	118	random	random	ADJ
fbem-13189	31	119	disturbance	disturbance	NOUN
fbem-13189	31	120	term	term	NOUN
fbem-13189	31	121	to	to	PART
fbem-13189	31	122	represent	represent	VERB
fbem-13189	31	123	other	other	ADJ
fbem-13189	31	124	random	random	ADJ
fbem-13189	31	125	factors	factor	NOUN
fbem-13189	31	126	that	that	PRON
fbem-13189	31	127	are	be	AUX
fbem-13189	31	128	not	not	PART
fbem-13189	31	129	included	include	VERB
fbem-13189	31	130	in	in	ADP
fbem-13189	31	131	the	the	DET
fbem-13189	31	132	explanatory	explanatory	ADJ
fbem-13189	31	133	variables	variable	NOUN
fbem-13189	31	134	,	,	PUNCT
fbem-13189	31	135	and	and	CCONJ
fbem-13189	31	136	the	the	DET
fbem-13189	31	137	following	follow	VERB
fbem-13189	31	138	multiple	multiple	ADJ
fbem-13189	31	139	linear	linear	PROPN
fbem-13189	31	140	regression	regression	NOUN
fbem-13189	31	141	model	model	NOUN
fbem-13189	31	142	is	be	AUX
fbem-13189	31	143	constructed	construct	VERB
fbem-13189	31	144	:	:	PUNCT
fbem-13189	31	145	ucer	ucer	NOUN
fbem-13189	31	146	=	=	SYM
fbem-13189	31	147	a+b1ucs+b2uccpi+b3gdpr+b4lnfdi+b5ln	a+b1ucs+b2uccpi+b3gdpr+b4lnfdi+b5ln	PROPN
fbem-13189	31	148	fer+b6lnbop+u	fer+b6lnbop+u	NOUN
fbem-13189	31	149	in	in	ADP
fbem-13189	31	150	order	order	NOUN
fbem-13189	31	151	to	to	PART
fbem-13189	31	152	eliminate	eliminate	VERB
fbem-13189	31	153	bias	bias	NOUN
fbem-13189	31	154	in	in	ADP
fbem-13189	31	155	the	the	DET
fbem-13189	31	156	data	datum	NOUN
fbem-13189	31	157	,	,	PUNCT
fbem-13189	31	158	weaken	weaken	VERB
fbem-13189	31	159	the	the	DET
fbem-13189	31	160	multicollinearity	multicollinearity	NOUN
fbem-13189	31	161	and	and	CCONJ
fbem-13189	31	162	eliminate	eliminate	VERB
fbem-13189	31	163	heteroskedasticity	heteroskedasticity	NOUN
fbem-13189	31	164	in	in	ADP
fbem-13189	31	165	the	the	DET
fbem-13189	31	166	data	datum	NOUN
fbem-13189	31	167	,	,	PUNCT
fbem-13189	31	168	the	the	DET
fbem-13189	31	169	sample	sample	NOUN
fbem-13189	31	170	data	datum	NOUN
fbem-13189	31	171	of	of	ADP
fbem-13189	31	172	foreign	foreign	ADJ
fbem-13189	31	173	direct	direct	ADJ
fbem-13189	31	174	investment	investment	NOUN
fbem-13189	31	175	(	(	PUNCT
fbem-13189	31	176	fdi	fdi	NOUN
fbem-13189	31	177	)	)	PUNCT
fbem-13189	31	178	,	,	PUNCT
fbem-13189	31	179	foreign	foreign	ADJ
fbem-13189	31	180	exchange	exchange	NOUN
fbem-13189	31	181	reserves	reserve	NOUN
fbem-13189	31	182	(	(	PUNCT
fbem-13189	31	183	fer	fer	PROPN
fbem-13189	31	184	)	)	PUNCT
fbem-13189	31	185	and	and	CCONJ
fbem-13189	31	186	balance	balance	NOUN
fbem-13189	31	187	of	of	ADP
fbem-13189	31	188	payments	payment	NOUN
fbem-13189	31	189	(	(	PUNCT
fbem-13189	31	190	bop	bop	INTJ
fbem-13189	31	191	)	)	PUNCT
fbem-13189	31	192	variables	variable	NOUN
fbem-13189	31	193	were	be	AUX
fbem-13189	31	194	logarithmised	logarithmise	VERB
fbem-13189	31	195	to	to	PART
fbem-13189	31	196	make	make	VERB
fbem-13189	31	197	the	the	DET
fbem-13189	31	198	selected	select	VERB
fbem-13189	31	199	sample	sample	NOUN
fbem-13189	31	200	data	datum	NOUN
fbem-13189	31	201	smoother	smooth	ADJ
fbem-13189	31	202	and	and	CCONJ
fbem-13189	31	203	more	more	ADV
fbem-13189	31	204	consistent	consistent	ADJ
fbem-13189	31	205	with	with	ADP
fbem-13189	31	206	the	the	DET
fbem-13189	31	207	assumption	assumption	NOUN
fbem-13189	31	208	of	of	ADP
fbem-13189	31	209	normal	normal	ADJ
fbem-13189	31	210	distribution	distribution	NOUN
fbem-13189	31	211	.	.	PUNCT
fbem-13189	32	1	2.2.2	2.2.2	X
fbem-13189	32	2	.	.	PUNCT
fbem-13189	32	3	model	model	NOUN
fbem-13189	32	4	estimation	estimation	NOUN
fbem-13189	32	5	using	use	VERB
fbem-13189	32	6	ols	ol	NOUN
fbem-13189	32	7	estimation	estimation	NOUN
fbem-13189	32	8	methods	method	NOUN
fbem-13189	32	9	and	and	CCONJ
fbem-13189	32	10	regression	regression	VERB
fbem-13189	32	11	analysis	analysis	NOUN
fbem-13189	32	12	of	of	ADP
fbem-13189	32	13	the	the	DET
fbem-13189	32	14	variable	variable	ADJ
fbem-13189	32	15	data	datum	NOUN
fbem-13189	32	16	with	with	ADP
fbem-13189	32	17	the	the	DET
fbem-13189	32	18	help	help	NOUN
fbem-13189	32	19	of	of	ADP
fbem-13189	32	20	the	the	DET
fbem-13189	32	21	econometric	econometric	ADJ
fbem-13189	32	22	software	software	NOUN
fbem-13189	32	23	statase	statase	PROPN
fbem-13189	32	24	17	17	NUM
fbem-13189	32	25	,	,	PUNCT
fbem-13189	33	1	tables	table	NOUN
fbem-13189	33	2	2	2	NUM
fbem-13189	33	3	and	and	CCONJ
fbem-13189	33	4	3	3	NUM
fbem-13189	33	5	were	be	AUX
fbem-13189	33	6	obtained	obtain	VERB
fbem-13189	33	7	respectively	respectively	ADV
fbem-13189	33	8	.	.	PUNCT
fbem-13189	34	1	table	table	NOUN
fbem-13189	34	2	2	2	NUM
fbem-13189	34	3	.	.	PUNCT
fbem-13189	34	4	stata	stata	PROPN
fbem-13189	34	5	output	output	NOUN
fbem-13189	34	6	from	from	ADP
fbem-13189	34	7	preliminary	preliminary	ADJ
fbem-13189	34	8	model	model	NOUN
fbem-13189	34	9	estimates	estimate	NOUN
fbem-13189	34	10	(	(	PUNCT
fbem-13189	34	11	rmbi=0	rmbi=0	ADJ
fbem-13189	34	12	)	)	PUNCT
fbem-13189	34	13	ucer	ucer	NOUN
fbem-13189	34	14	coef	coef	PROPN
fbem-13189	34	15	.	.	PUNCT
fbem-13189	35	1	st	st	PROPN
fbem-13189	35	2	.	.	PROPN
fbem-13189	35	3	err	err	PROPN
fbem-13189	35	4	.	.	PUNCT
fbem-13189	36	1	t	t	NOUN
fbem-13189	36	2	-	-	PUNCT
fbem-13189	36	3	value	value	NOUN
fbem-13189	36	4	p	p	NOUN
fbem-13189	36	5	-	-	PUNCT
fbem-13189	36	6	value	value	NOUN
fbem-13189	36	7	[	[	X
fbem-13189	36	8	95	95	NUM
fbem-13189	36	9	%	%	NOUN
fbem-13189	36	10	conf	conf	NOUN
fbem-13189	36	11	interval	interval	NOUN
fbem-13189	36	12	]	]	PUNCT
fbem-13189	36	13	sig	sig	PROPN
fbem-13189	36	14	ucs	ucs	NOUN
fbem-13189	36	15	0.03	0.03	NUM
fbem-13189	36	16	0.045	0.045	NUM
fbem-13189	36	17	0.67	0.67	NUM
fbem-13189	36	18	0.505	0.505	NUM
fbem-13189	36	19	-0.061	-0.061	NOUN
fbem-13189	36	20	0.122	0.122	NUM
fbem-13189	36	21	uccpi	uccpi	NOUN
fbem-13189	36	22	-0.02	-0.02	NUM
fbem-13189	36	23	0.02	0.02	NUM
fbem-13189	36	24	-1.00	-1.00	NUM
fbem-13189	36	25	0.32	0.32	NUM
fbem-13189	36	26	-0.061	-0.061	NOUN
fbem-13189	36	27	0.02	0.02	NUM
fbem-13189	36	28	gdpr	gdpr	NOUN
fbem-13189	36	29	0.099	0.099	NUM
fbem-13189	36	30	0.018	0.018	NUM
fbem-13189	36	31	5.48	5.48	NUM
fbem-13189	36	32	0	0	NUM
fbem-13189	36	33	0.063	0.063	NUM
fbem-13189	36	34	0.135	0.135	NUM
fbem-13189	36	35	*	*	PUNCT
fbem-13189	36	36	*	*	PUNCT
fbem-13189	36	37	*	*	PUNCT
fbem-13189	36	38	lnfdi	lnfdi	ADJ
fbem-13189	36	39	-0.177	-0.177	PUNCT
fbem-13189	36	40	0.185	0.185	NUM
fbem-13189	36	41	-0.96	-0.96	NUM
fbem-13189	36	42	0.343	0.343	NUM
fbem-13189	36	43	-0.549	-0.549	NUM
fbem-13189	36	44	0.194	0.194	NUM
fbem-13189	36	45	lnfer	lnfer	NOUN
fbem-13189	36	46	-0.902	-0.902	PUNCT
fbem-13189	36	47	0.066	0.066	NUM
fbem-13189	36	48	-13.71	-13.71	SYM
fbem-13189	36	49	0	0	NUM
fbem-13189	36	50	-1.034	-1.034	CCONJ
fbem-13189	36	51	-0.77	-0.77	NUM
fbem-13189	36	52	*	*	PUNCT
fbem-13189	36	53	*	*	PUNCT
fbem-13189	36	54	*	*	PROPN
fbem-13189	36	55	lnbop	lnbop	NOUN
fbem-13189	36	56	0.084	0.084	NUM
fbem-13189	36	57	0.046	0.046	NUM
fbem-13189	36	58	1.82	1.82	NUM
fbem-13189	36	59	0.074	0.074	NUM
fbem-13189	36	60	-0.009	-0.009	NUM
fbem-13189	36	61	0.177	0.177	NUM
fbem-13189	36	62	*	*	PUNCT
fbem-13189	36	63	constant	constant	ADJ
fbem-13189	36	64	17.256	17.256	NUM
fbem-13189	36	65	1.174	1.174	NUM
fbem-13189	36	66	14.70	14.70	NUM
fbem-13189	36	67	0	0	NUM
fbem-13189	36	68	14.9	14.9	NUM
fbem-13189	36	69	19.613	19.613	NUM
fbem-13189	36	70	*	*	PUNCT
fbem-13189	36	71	*	*	PUNCT
fbem-13189	36	72	*	*	PUNCT
fbem-13189	36	73	mean	mean	VERB
fbem-13189	36	74	dependent	dependent	ADJ
fbem-13189	36	75	var	var	NOUN
fbem-13189	36	76	7.157	7.157	NUM
fbem-13189	36	77	sd	sd	ADP
fbem-13189	36	78	dependent	dependent	ADJ
fbem-13189	36	79	var	var	NOUN
fbem-13189	37	1	0.851	0.851	NUM
fbem-13189	37	2	r	r	X
fbem-13189	37	3	-	-	PUNCT
fbem-13189	37	4	squared	square	VERB
fbem-13189	37	5	0.955	0.955	NUM
fbem-13189	37	6	number	number	NOUN
fbem-13189	37	7	of	of	ADP
fbem-13189	37	8	obs	obs	PROPN
fbem-13189	37	9	58	58	NUM
fbem-13189	37	10	f	f	NOUN
fbem-13189	37	11	-	-	PUNCT
fbem-13189	37	12	test	test	NOUN
fbem-13189	37	13	182.305	182.305	NUM
fbem-13189	37	14	prob	prob	NOUN
fbem-13189	37	15	>	>	X
fbem-13189	37	16	f	f	PROPN
fbem-13189	37	17	0.000	0.000	NUM
fbem-13189	37	18	akaike	akaike	ADJ
fbem-13189	37	19	crit	crit	NOUN
fbem-13189	37	20	.	.	PUNCT
fbem-13189	38	1	(	(	PUNCT
fbem-13189	38	2	aic	aic	PROPN
fbem-13189	38	3	)	)	PUNCT
fbem-13189	38	4	-21.630	-21.630	PROPN
fbem-13189	38	5	bayesian	bayesian	NOUN
fbem-13189	38	6	crit	crit	NOUN
fbem-13189	38	7	.	.	PUNCT
fbem-13189	39	1	(	(	PUNCT
fbem-13189	39	2	bic	bic	NOUN
fbem-13189	39	3	)	)	PUNCT
fbem-13189	39	4	-7.207	-7.207	NOUN
fbem-13189	39	5	*	*	PUNCT
fbem-13189	40	1	*	*	PUNCT
fbem-13189	40	2	*	*	PUNCT
fbem-13189	40	3	p<0.01	p<0.01	PROPN
fbem-13189	40	4	,	,	PUNCT
fbem-13189	40	5	*	*	PUNCT
fbem-13189	40	6	*	*	PUNCT
fbem-13189	40	7	p<0.05	p<0.05	NOUN
fbem-13189	40	8	,	,	PUNCT
fbem-13189	40	9	*	*	PUNCT
fbem-13189	40	10	p<0.1	p<0.1	NUM
fbem-13189	40	11	according	accord	VERB
fbem-13189	40	12	to	to	ADP
fbem-13189	40	13	table	table	NOUN
fbem-13189	40	14	2	2	NUM
fbem-13189	40	15	,	,	PUNCT
fbem-13189	40	16	when	when	SCONJ
fbem-13189	40	17	the	the	DET
fbem-13189	40	18	conditional	conditional	ADJ
fbem-13189	40	19	variable	variable	ADJ
fbem-13189	40	20	rmbi	rmbi	NOUN
fbem-13189	40	21	=	=	SYM
fbem-13189	40	22	0	0	NUM
fbem-13189	40	23	,	,	PUNCT
fbem-13189	40	24	i.e.	i.e.	X
fbem-13189	40	25	the	the	DET
fbem-13189	40	26	pre	pre	ADJ
fbem-13189	40	27	-	-	ADJ
fbem-13189	40	28	internationalisation	internationalisation	ADJ
fbem-13189	40	29	period	period	NOUN
fbem-13189	40	30	of	of	ADP
fbem-13189	40	31	the	the	DET
fbem-13189	40	32	rmb	rmb	NOUN
fbem-13189	40	33	(	(	PUNCT
fbem-13189	40	34	2002	2002	NUM
fbem-13189	40	35	to	to	ADP
fbem-13189	40	36	q3	q3	PROPN
fbem-13189	40	37	2016	2016	NUM
fbem-13189	40	38	)	)	PUNCT
fbem-13189	40	39	,	,	PUNCT
fbem-13189	40	40	the	the	DET
fbem-13189	40	41	multiple	multiple	ADJ
fbem-13189	40	42	linear	linear	ADJ
fbem-13189	40	43	regression	regression	NOUN
fbem-13189	40	44	function	function	NOUN
fbem-13189	40	45	of	of	ADP
fbem-13189	40	46	china	china	PROPN
fbem-13189	40	47	's	's	PART
fbem-13189	40	48	rmb	rmb	PROPN
fbem-13189	40	49	exchange	exchange	NOUN
fbem-13189	40	50	rate	rate	NOUN
fbem-13189	40	51	initially	initially	ADV
fbem-13189	40	52	estimated	estimate	VERB
fbem-13189	40	53	by	by	ADP
fbem-13189	40	54	the	the	DET
fbem-13189	40	55	model	model	NOUN
fbem-13189	40	56	is	be	AUX
fbem-13189	40	57	ucer=17.256	ucer=17.256	ADJ
fbem-13189	40	58	+	+	NOUN
fbem-13189	40	59	0.03ucs-0.02uccpi+0.099gdpr0.177lnfdi-0.902lnfer+0.084lnbop+u	0.03ucs-0.02uccpi+0.099gdpr0.177lnfdi-0.902lnfer+0.084lnbop+u	NOUN
fbem-13189	40	60	74	74	NUM
fbem-13189	40	61	table	table	NOUN
fbem-13189	40	62	3	3	NUM
fbem-13189	40	63	.	.	PUNCT
fbem-13189	40	64	stata	stata	PROPN
fbem-13189	40	65	output	output	NOUN
fbem-13189	40	66	from	from	ADP
fbem-13189	40	67	preliminary	preliminary	ADJ
fbem-13189	40	68	model	model	NOUN
fbem-13189	40	69	estimates	estimate	NOUN
fbem-13189	40	70	(	(	PUNCT
fbem-13189	40	71	rmbi=1	rmbi=1	NOUN
fbem-13189	40	72	)	)	PUNCT
fbem-13189	40	73	ucer	ucer	NOUN
fbem-13189	40	74	coef	coef	PROPN
fbem-13189	40	75	.	.	PUNCT
fbem-13189	40	76	st	st	PROPN
fbem-13189	40	77	.	.	PROPN
fbem-13189	40	78	err	err	PROPN
fbem-13189	40	79	.	.	PUNCT
fbem-13189	41	1	t	t	NOUN
fbem-13189	41	2	-	-	PUNCT
fbem-13189	41	3	value	value	NOUN
fbem-13189	41	4	p	p	NOUN
fbem-13189	41	5	-	-	PUNCT
fbem-13189	41	6	value	value	NOUN
fbem-13189	41	7	[	[	X
fbem-13189	41	8	95	95	NUM
fbem-13189	41	9	%	%	NOUN
fbem-13189	41	10	conf	conf	NOUN
fbem-13189	41	11	interval	interval	NOUN
fbem-13189	41	12	]	]	PUNCT
fbem-13189	41	13	sig	sig	PROPN
fbem-13189	41	14	ucs	ucs	NOUN
fbem-13189	41	15	-0.093	-0.093	PROPN
fbem-13189	41	16	0.041	0.041	NUM
fbem-13189	41	17	-2.26	-2.26	NUM
fbem-13189	41	18	0.036	0.036	NUM
fbem-13189	41	19	-0.179	-0.179	NOUN
fbem-13189	41	20	-0.007	-0.007	NOUN
fbem-13189	41	21	*	*	PUNCT
fbem-13189	41	22	*	*	PUNCT
fbem-13189	41	23	uccpi	uccpi	ADJ
fbem-13189	42	1	0.035	0.035	NUM
fbem-13189	42	2	0.013	0.013	NUM
fbem-13189	42	3	2.70	2.70	NUM
fbem-13189	42	4	0.014	0.014	NUM
fbem-13189	42	5	0.008	0.008	NUM
fbem-13189	42	6	0.061	0.061	NUM
fbem-13189	42	7	*	*	PUNCT
fbem-13189	42	8	*	*	PUNCT
fbem-13189	42	9	gdpr	gdpr	INTJ
fbem-13189	42	10	-0.008	-0.008	NOUN
fbem-13189	42	11	0.009	0.009	NUM
fbem-13189	42	12	-0.91	-0.91	NOUN
fbem-13189	42	13	0.376	0.376	NUM
fbem-13189	42	14	-.026	-.026	PROPN
fbem-13189	42	15	0.01	0.01	NUM
fbem-13189	42	16	lnfdi	lnfdi	NOUN
fbem-13189	42	17	0.042	0.042	NUM
fbem-13189	42	18	0.165	0.165	NUM
fbem-13189	42	19	0.25	0.25	NUM
fbem-13189	42	20	0.804	0.804	NUM
fbem-13189	42	21	-.305	-.305	NOUN
fbem-13189	42	22	0.388	0.388	NUM
fbem-13189	42	23	lnfer	lnfer	VERB
fbem-13189	42	24	5.664	5.664	NUM
fbem-13189	42	25	0.868	0.868	NUM
fbem-13189	42	26	6.53	6.53	NUM
fbem-13189	42	27	0	0	NUM
fbem-13189	42	28	3.848	3.848	NUM
fbem-13189	42	29	7.481	7.481	NUM
fbem-13189	43	1	*	*	PUNCT
fbem-13189	44	1	*	*	PUNCT
fbem-13189	44	2	*	*	X
fbem-13189	44	3	lnbop	lnbop	NOUN
fbem-13189	44	4	-0.077	-0.077	PUNCT
fbem-13189	44	5	0.072	0.072	NUM
fbem-13189	44	6	-1.07	-1.07	NUM
fbem-13189	44	7	0.297	0.297	NUM
fbem-13189	44	8	-.228	-.228	PROPN
fbem-13189	44	9	0.074	0.074	NUM
fbem-13189	44	10	constant	constant	ADJ
fbem-13189	44	11	-62.171	-62.171	PROPN
fbem-13189	45	1	10.525	10.525	NUM
fbem-13189	45	2	-5.91	-5.91	NOUN
fbem-13189	45	3	0	0	NUM
fbem-13189	45	4	-84.201	-84.201	NUM
fbem-13189	45	5	-40.142	-40.142	PUNCT
fbem-13189	46	1	*	*	PUNCT
fbem-13189	46	2	*	*	PUNCT
fbem-13189	46	3	*	*	PUNCT
fbem-13189	46	4	mean	mean	VERB
fbem-13189	46	5	dependent	dependent	ADJ
fbem-13189	46	6	var	var	NOUN
fbem-13189	46	7	6.725	6.725	NUM
fbem-13189	46	8	sd	sd	ADP
fbem-13189	46	9	dependent	dependent	ADJ
fbem-13189	46	10	var	var	NOUN
fbem-13189	46	11	0.236	0.236	NUM
fbem-13189	46	12	r	r	X
fbem-13189	46	13	-	-	PUNCT
fbem-13189	46	14	squared	square	VERB
fbem-13189	46	15	0.861	0.861	NUM
fbem-13189	46	16	number	number	NOUN
fbem-13189	46	17	of	of	ADP
fbem-13189	46	18	obs	obs	PROPN
fbem-13189	47	1	26	26	NUM
fbem-13189	47	2	f	f	X
fbem-13189	47	3	-	-	PUNCT
fbem-13189	47	4	test	test	NOUN
fbem-13189	47	5	19.563	19.563	NUM
fbem-13189	47	6	prob	prob	NOUN
fbem-13189	47	7	>	>	X
fbem-13189	47	8	f	f	PROPN
fbem-13189	47	9	0.000	0.000	NUM
fbem-13189	47	10	akaike	akaike	ADJ
fbem-13189	47	11	crit	crit	NOUN
fbem-13189	47	12	.	.	PUNCT
fbem-13189	48	1	(	(	PUNCT
fbem-13189	48	2	aic	aic	PROPN
fbem-13189	48	3	)	)	PUNCT
fbem-13189	48	4	-39.613	-39.613	PROPN
fbem-13189	48	5	bayesian	bayesian	NOUN
fbem-13189	48	6	crit	crit	NOUN
fbem-13189	48	7	.	.	PUNCT
fbem-13189	49	1	(	(	PUNCT
fbem-13189	49	2	bic	bic	PROPN
fbem-13189	49	3	)	)	PUNCT
fbem-13189	49	4	-30.806	-30.806	PUNCT
fbem-13189	50	1	*	*	PUNCT
fbem-13189	50	2	*	*	PUNCT
fbem-13189	50	3	*	*	PUNCT
fbem-13189	50	4	p<0.01	p<0.01	PROPN
fbem-13189	50	5	,	,	PUNCT
fbem-13189	50	6	*	*	PUNCT
fbem-13189	50	7	*	*	PUNCT
fbem-13189	50	8	p<0.05	p<0.05	NOUN
fbem-13189	50	9	,	,	PUNCT
fbem-13189	50	10	*	*	PUNCT
fbem-13189	50	11	p<0.1	p<0.1	NUM
fbem-13189	50	12	according	accord	VERB
fbem-13189	50	13	to	to	ADP
fbem-13189	50	14	table	table	NOUN
fbem-13189	50	15	3	3	NUM
fbem-13189	50	16	,	,	PUNCT
fbem-13189	50	17	when	when	SCONJ
fbem-13189	50	18	the	the	DET
fbem-13189	50	19	conditional	conditional	ADJ
fbem-13189	50	20	variable	variable	ADJ
fbem-13189	50	21	rmbi	rmbi	NOUN
fbem-13189	50	22	=	=	SYM
fbem-13189	50	23	1	1	NUM
fbem-13189	50	24	,	,	PUNCT
fbem-13189	50	25	i.e.	i.e.	X
fbem-13189	50	26	the	the	DET
fbem-13189	50	27	period	period	NOUN
fbem-13189	50	28	of	of	ADP
fbem-13189	50	29	rmb	rmb	PROPN
fbem-13189	50	30	internationalisation	internationalisation	NOUN
fbem-13189	50	31	development	development	NOUN
fbem-13189	50	32	(	(	PUNCT
fbem-13189	50	33	q4	q4	PROPN
fbem-13189	50	34	2016	2016	NUM
fbem-13189	50	35	to	to	ADP
fbem-13189	50	36	2022	2022	NUM
fbem-13189	50	37	)	)	PUNCT
fbem-13189	50	38	,	,	PUNCT
fbem-13189	50	39	the	the	DET
fbem-13189	50	40	preliminary	preliminary	ADJ
fbem-13189	50	41	multivariate	multivariate	NOUN
fbem-13189	50	42	linear	linear	PROPN
fbem-13189	50	43	regression	regression	NOUN
fbem-13189	50	44	function	function	NOUN
fbem-13189	50	45	of	of	ADP
fbem-13189	50	46	china	china	PROPN
fbem-13189	50	47	's	's	PART
fbem-13189	50	48	rmb	rmb	PROPN
fbem-13189	50	49	exchange	exchange	NOUN
fbem-13189	50	50	rate	rate	NOUN
fbem-13189	50	51	estimated	estimate	VERB
fbem-13189	50	52	by	by	ADP
fbem-13189	50	53	the	the	DET
fbem-13189	50	54	model	model	NOUN
fbem-13189	50	55	is	be	AUX
fbem-13189	50	56	ucer=62.171	ucer=62.171	NOUN
fbem-13189	50	57	-	-	PUNCT
fbem-13189	50	58	0.093ucs+0.035uccpi0.008gdpr+0.042lnfdi+5.664lnfer-0.077lnbop+u	0.093ucs+0.035uccpi0.008gdpr+0.042lnfdi+5.664lnfer-0.077lnbop+u	NUM
fbem-13189	50	59	2.2.3	2.2.3	NUM
fbem-13189	50	60	.	.	PUNCT
fbem-13189	51	1	testing	testing	NOUN
fbem-13189	51	2	and	and	CCONJ
fbem-13189	51	3	correction	correction	NOUN
fbem-13189	51	4	of	of	ADP
fbem-13189	51	5	the	the	DET
fbem-13189	51	6	model	model	NOUN
fbem-13189	51	7	(	(	PUNCT
fbem-13189	51	8	1	1	X
fbem-13189	51	9	)	)	PUNCT
fbem-13189	51	10	testing	testing	NOUN
fbem-13189	51	11	and	and	CCONJ
fbem-13189	51	12	correction	correction	NOUN
fbem-13189	51	13	of	of	ADP
fbem-13189	51	14	multicollinearity	multicollinearity	NOUN
fbem-13189	51	15	to	to	PART
fbem-13189	51	16	further	far	ADV
fbem-13189	51	17	optimize	optimize	VERB
fbem-13189	51	18	the	the	DET
fbem-13189	51	19	econometric	econometric	ADJ
fbem-13189	51	20	model	model	NOUN
fbem-13189	51	21	,	,	PUNCT
fbem-13189	51	22	the	the	DET
fbem-13189	51	23	study	study	NOUN
fbem-13189	51	24	calculated	calculate	VERB
fbem-13189	51	25	the	the	DET
fbem-13189	51	26	correlation	correlation	NOUN
fbem-13189	51	27	coefficients	coefficient	NOUN
fbem-13189	51	28	between	between	ADP
fbem-13189	51	29	the	the	DET
fbem-13189	51	30	individual	individual	ADJ
fbem-13189	51	31	variables	variable	NOUN
fbem-13189	51	32	in	in	ADP
fbem-13189	51	33	stata	stata	PROPN
fbem-13189	51	34	software	software	NOUN
fbem-13189	51	35	,	,	PUNCT
fbem-13189	51	36	as	as	SCONJ
fbem-13189	51	37	shown	show	VERB
fbem-13189	51	38	in	in	ADP
fbem-13189	51	39	table	table	NOUN
fbem-13189	51	40	4	4	NUM
fbem-13189	51	41	:	:	PUNCT
fbem-13189	51	42	table	table	NOUN
fbem-13189	51	43	4	4	NUM
fbem-13189	51	44	.	.	PUNCT
fbem-13189	51	45	correlation	correlation	NOUN
fbem-13189	51	46	coefficient	coefficient	NOUN
fbem-13189	51	47	matrix	matrix	NOUN
fbem-13189	51	48	for	for	ADP
fbem-13189	51	49	each	each	DET
fbem-13189	51	50	variable	variable	NOUN
fbem-13189	51	51	in	in	ADP
fbem-13189	51	52	the	the	DET
fbem-13189	51	53	regression	regression	NOUN
fbem-13189	51	54	equation	equation	NOUN
fbem-13189	51	55	variables	variable	NOUN
fbem-13189	51	56	(	(	PUNCT
fbem-13189	51	57	1	1	NUM
fbem-13189	51	58	)	)	PUNCT
fbem-13189	51	59	(	(	PUNCT
fbem-13189	51	60	2	2	NUM
fbem-13189	51	61	)	)	PUNCT
fbem-13189	51	62	(	(	PUNCT
fbem-13189	51	63	3	3	X
fbem-13189	51	64	)	)	PUNCT
fbem-13189	51	65	(	(	PUNCT
fbem-13189	51	66	4	4	NUM
fbem-13189	51	67	)	)	PUNCT
fbem-13189	51	68	(	(	PUNCT
fbem-13189	51	69	5	5	NUM
fbem-13189	51	70	)	)	PUNCT
fbem-13189	51	71	(	(	PUNCT
fbem-13189	51	72	6	6	NUM
fbem-13189	51	73	)	)	PUNCT
fbem-13189	51	74	(	(	PUNCT
fbem-13189	51	75	7	7	X
fbem-13189	51	76	)	)	PUNCT
fbem-13189	51	77	ucer	ucer	NOUN
fbem-13189	51	78	1.000	1.000	NUM
fbem-13189	51	79	ucs	ucs	NOUN
fbem-13189	51	80	-0.768	-0.768	PROPN
fbem-13189	51	81	1.000	1.000	NUM
fbem-13189	51	82	uccpi	uccpi	NOUN
fbem-13189	51	83	-0.133	-0.133	ADP
fbem-13189	51	84	0.260	0.260	NUM
fbem-13189	51	85	1.000	1.000	NUM
fbem-13189	51	86	gdpr	gdpr	NOUN
fbem-13189	51	87	0.465	0.465	NUM
fbem-13189	51	88	-0.445	-0.445	NOUN
fbem-13189	51	89	0.269	0.269	NUM
fbem-13189	51	90	1.000	1.000	NUM
fbem-13189	51	91	lnfdi	lnfdi	ADJ
fbem-13189	51	92	-0.694	-0.694	PROPN
fbem-13189	51	93	0.628	0.628	NUM
fbem-13189	51	94	-0.173	-0.173	SYM
fbem-13189	51	95	-0.580	-0.580	PROPN
fbem-13189	51	96	1.000	1.000	NUM
fbem-13189	51	97	lnfer	lnfer	NOUN
fbem-13189	51	98	-0.917	-0.917	NOUN
fbem-13189	51	99	0.741	0.741	NUM
fbem-13189	51	100	0.165	0.165	NUM
fbem-13189	51	101	-0.441	-0.441	NUM
fbem-13189	51	102	0.757	0.757	NUM
fbem-13189	51	103	1.000	1.000	NUM
fbem-13189	51	104	lnbop	lnbop	NOUN
fbem-13189	51	105	-0.105	-0.105	NOUN
fbem-13189	51	106	0.028	0.028	NUM
fbem-13189	51	107	0.208	0.208	NUM
fbem-13189	51	108	0.199	0.199	NUM
fbem-13189	51	109	0.051	0.051	NUM
fbem-13189	51	110	0.243	0.243	NUM
fbem-13189	51	111	1.000	1.000	NUM
fbem-13189	51	112	in	in	ADP
fbem-13189	51	113	this	this	DET
fbem-13189	51	114	paper	paper	NOUN
fbem-13189	51	115	,	,	PUNCT
fbem-13189	51	116	each	each	DET
fbem-13189	51	117	explanatory	explanatory	ADJ
fbem-13189	51	118	variable	variable	NOUN
fbem-13189	51	119	is	be	AUX
fbem-13189	51	120	introduced	introduce	VERB
fbem-13189	51	121	into	into	ADP
fbem-13189	51	122	the	the	DET
fbem-13189	51	123	regression	regression	NOUN
fbem-13189	51	124	equation	equation	NOUN
fbem-13189	51	125	in	in	ADP
fbem-13189	51	126	the	the	DET
fbem-13189	51	127	order	order	NOUN
fbem-13189	51	128	of	of	ADP
fbem-13189	51	129	its	its	PRON
fbem-13189	51	130	absolute	absolute	ADJ
fbem-13189	51	131	value	value	NOUN
fbem-13189	51	132	of	of	ADP
fbem-13189	51	133	correlation	correlation	NOUN
fbem-13189	51	134	coefficient	coefficient	NOUN
fbem-13189	51	135	with	with	ADP
fbem-13189	51	136	the	the	DET
fbem-13189	51	137	explanatory	explanatory	ADJ
fbem-13189	51	138	variable	variable	NOUN
fbem-13189	51	139	,	,	PUNCT
fbem-13189	51	140	from	from	ADP
fbem-13189	51	141	the	the	DET
fbem-13189	51	142	largest	large	ADJ
fbem-13189	51	143	to	to	ADP
fbem-13189	51	144	the	the	DET
fbem-13189	51	145	smallest	small	ADJ
fbem-13189	51	146	,	,	PUNCT
fbem-13189	51	147	and	and	CCONJ
fbem-13189	51	148	the	the	DET
fbem-13189	51	149	model	model	NOUN
fbem-13189	51	150	is	be	AUX
fbem-13189	51	151	revised	revise	VERB
fbem-13189	51	152	by	by	ADP
fbem-13189	51	153	eliminating	eliminate	VERB
fbem-13189	51	154	multiple	multiple	ADJ
fbem-13189	51	155	cointegration	cointegration	NOUN
fbem-13189	51	156	through	through	ADP
fbem-13189	51	157	stepwise	stepwise	PROPN
fbem-13189	51	158	regression	regression	NOUN
fbem-13189	51	159	method	method	NOUN
fbem-13189	51	160	.	.	PUNCT
fbem-13189	52	1	the	the	DET
fbem-13189	52	2	t	t	NOUN
fbem-13189	52	3	-	-	PUNCT
fbem-13189	52	4	test	test	NOUN
fbem-13189	52	5	and	and	CCONJ
fbem-13189	52	6	f	f	X
fbem-13189	52	7	-	-	PUNCT
fbem-13189	52	8	test	test	NOUN
fbem-13189	52	9	were	be	AUX
fbem-13189	52	10	used	use	VERB
fbem-13189	52	11	to	to	PART
fbem-13189	52	12	determine	determine	VERB
fbem-13189	52	13	whether	whether	SCONJ
fbem-13189	52	14	each	each	DET
fbem-13189	52	15	explanatory	explanatory	ADJ
fbem-13189	52	16	variable	variable	NOUN
fbem-13189	52	17	could	could	AUX
fbem-13189	52	18	be	be	AUX
fbem-13189	52	19	introduced	introduce	VERB
fbem-13189	52	20	into	into	ADP
fbem-13189	52	21	the	the	DET
fbem-13189	52	22	equation	equation	NOUN
fbem-13189	52	23	,	,	PUNCT
fbem-13189	52	24	and	and	CCONJ
fbem-13189	52	25	if	if	SCONJ
fbem-13189	52	26	the	the	DET
fbem-13189	52	27	new	new	ADJ
fbem-13189	52	28	explanatory	explanatory	ADJ
fbem-13189	52	29	variable	variable	NOUN
fbem-13189	52	30	could	could	AUX
fbem-13189	52	31	not	not	PART
fbem-13189	52	32	pass	pass	VERB
fbem-13189	52	33	the	the	DET
fbem-13189	52	34	significance	significance	NOUN
fbem-13189	52	35	test	test	NOUN
fbem-13189	52	36	after	after	ADP
fbem-13189	52	37	being	be	AUX
fbem-13189	52	38	introduced	introduce	VERB
fbem-13189	52	39	into	into	ADP
fbem-13189	52	40	the	the	DET
fbem-13189	52	41	regression	regression	NOUN
fbem-13189	52	42	equation	equation	NOUN
fbem-13189	52	43	,	,	PUNCT
fbem-13189	52	44	the	the	DET
fbem-13189	52	45	variable	variable	NOUN
fbem-13189	52	46	was	be	AUX
fbem-13189	52	47	removed	remove	VERB
fbem-13189	52	48	.	.	PUNCT
fbem-13189	53	1	based	base	VERB
fbem-13189	53	2	on	on	ADP
fbem-13189	53	3	the	the	DET
fbem-13189	53	4	data	datum	NOUN
fbem-13189	53	5	in	in	ADP
fbem-13189	53	6	table	table	NOUN
fbem-13189	53	7	4	4	NUM
fbem-13189	53	8	,	,	PUNCT
fbem-13189	53	9	lnfer	lnfer	VERB
fbem-13189	53	10	,	,	PUNCT
fbem-13189	53	11	which	which	PRON
fbem-13189	53	12	has	have	VERB
fbem-13189	53	13	the	the	DET
fbem-13189	53	14	highest	high	ADJ
fbem-13189	53	15	absolute	absolute	ADJ
fbem-13189	53	16	value	value	NOUN
fbem-13189	53	17	of	of	ADP
fbem-13189	53	18	correlation	correlation	NOUN
fbem-13189	53	19	coefficient	coefficient	NOUN
fbem-13189	53	20	with	with	ADP
fbem-13189	53	21	ucer	ucer	NOUN
fbem-13189	53	22	,	,	PUNCT
fbem-13189	53	23	was	be	AUX
fbem-13189	53	24	first	first	ADV
fbem-13189	53	25	introduced	introduce	VERB
fbem-13189	53	26	into	into	ADP
fbem-13189	53	27	the	the	DET
fbem-13189	53	28	regression	regression	NOUN
fbem-13189	53	29	equation	equation	NOUN
fbem-13189	53	30	,	,	PUNCT
fbem-13189	53	31	and	and	CCONJ
fbem-13189	53	32	the	the	DET
fbem-13189	53	33	other	other	ADJ
fbem-13189	53	34	explanatory	explanatory	ADJ
fbem-13189	53	35	variables	variable	NOUN
fbem-13189	53	36	were	be	AUX
fbem-13189	53	37	introduced	introduce	VERB
fbem-13189	53	38	according	accord	VERB
fbem-13189	53	39	to	to	ADP
fbem-13189	53	40	the	the	DET
fbem-13189	53	41	idea	idea	NOUN
fbem-13189	53	42	of	of	ADP
fbem-13189	53	43	stepwise	stepwise	ADJ
fbem-13189	53	44	regression	regression	NOUN
fbem-13189	53	45	method	method	NOUN
fbem-13189	53	46	.	.	PUNCT
fbem-13189	54	1	from	from	ADP
fbem-13189	54	2	the	the	DET
fbem-13189	54	3	final	final	ADJ
fbem-13189	54	4	stepwise	stepwise	NOUN
fbem-13189	54	5	regression	regression	NOUN
fbem-13189	54	6	results	result	NOUN
fbem-13189	54	7	showed	show	VERB
fbem-13189	54	8	in	in	ADP
fbem-13189	54	9	table	table	NOUN
fbem-13189	54	10	5	5	NUM
fbem-13189	54	11	,	,	PUNCT
fbem-13189	54	12	it	it	PRON
fbem-13189	54	13	is	be	AUX
fbem-13189	54	14	clear	clear	ADJ
fbem-13189	54	15	that	that	SCONJ
fbem-13189	54	16	the	the	DET
fbem-13189	54	17	effects	effect	NOUN
fbem-13189	54	18	of	of	ADP
fbem-13189	54	19	foreign	foreign	ADJ
fbem-13189	54	20	exchange	exchange	NOUN
fbem-13189	54	21	reserves	reserve	NOUN
fbem-13189	54	22	,	,	PUNCT
fbem-13189	54	23	the	the	DET
fbem-13189	54	24	us	us	PROPN
fbem-13189	54	25	-	-	PUNCT
fbem-13189	54	26	china	china	PROPN
fbem-13189	54	27	interest	interest	NOUN
fbem-13189	54	28	rate	rate	NOUN
fbem-13189	54	29	differential	differential	NOUN
fbem-13189	54	30	and	and	CCONJ
fbem-13189	54	31	the	the	DET
fbem-13189	54	32	balance	balance	NOUN
fbem-13189	54	33	of	of	ADP
fbem-13189	54	34	payments	payment	NOUN
fbem-13189	54	35	differential	differential	VERB
fbem-13189	54	36	on	on	ADP
fbem-13189	54	37	rmb	rmb	PROPN
fbem-13189	54	38	exchange	exchange	NOUN
fbem-13189	54	39	rate	rate	NOUN
fbem-13189	54	40	fluctuations	fluctuation	NOUN
fbem-13189	54	41	are	be	AUX
fbem-13189	54	42	significant	significant	ADJ
fbem-13189	54	43	.	.	PUNCT
fbem-13189	55	1	the	the	DET
fbem-13189	55	2	three	three	NUM
fbem-13189	55	3	variables	variable	NOUN
fbem-13189	55	4	of	of	ADP
fbem-13189	55	5	foreign	foreign	ADJ
fbem-13189	55	6	direct	direct	ADJ
fbem-13189	55	7	investment	investment	NOUN
fbem-13189	55	8	,	,	PUNCT
fbem-13189	55	9	gdp	gdp	NOUN
fbem-13189	55	10	growth	growth	NOUN
fbem-13189	55	11	rate	rate	NOUN
fbem-13189	55	12	and	and	CCONJ
fbem-13189	55	13	relative	relative	ADJ
fbem-13189	55	14	inflation	inflation	NOUN
fbem-13189	55	15	rate	rate	NOUN
fbem-13189	55	16	between	between	ADP
fbem-13189	55	17	the	the	DET
fbem-13189	55	18	us	us	PROPN
fbem-13189	55	19	and	and	CCONJ
fbem-13189	55	20	china	china	PROPN
fbem-13189	55	21	will	will	AUX
fbem-13189	55	22	be	be	AUX
fbem-13189	55	23	removed	remove	VERB
fbem-13189	55	24	from	from	ADP
fbem-13189	55	25	the	the	DET
fbem-13189	55	26	model	model	NOUN
fbem-13189	55	27	,	,	PUNCT
fbem-13189	55	28	and	and	CCONJ
fbem-13189	55	29	the	the	DET
fbem-13189	55	30	final	final	ADJ
fbem-13189	55	31	expression	expression	NOUN
fbem-13189	55	32	of	of	ADP
fbem-13189	55	33	the	the	DET
fbem-13189	55	34	regression	regression	NOUN
fbem-13189	55	35	function	function	NOUN
fbem-13189	55	36	will	will	AUX
fbem-13189	55	37	be	be	AUX
fbem-13189	55	38	ucer	ucer	NOUN
fbem-13189	55	39	=	=	SYM
fbem-13189	55	40	16.049	16.049	NUM
fbem-13189	55	41	0.845lnfer	0.845lnfer	NOUN
fbem-13189	55	42	0.106ucs	0.106ucs	NOUN
fbem-13189	56	1	+	+	CCONJ
fbem-13189	56	2	0.119lnbop	0.119lnbop	X
fbem-13189	56	3	table	table	NOUN
fbem-13189	56	4	5	5	NUM
fbem-13189	56	5	.	.	PUNCT
fbem-13189	57	1	regression	regression	NOUN
fbem-13189	57	2	results	result	NOUN
fbem-13189	57	3	for	for	ADP
fbem-13189	57	4	each	each	DET
fbem-13189	57	5	step	step	NOUN
fbem-13189	57	6	of	of	ADP
fbem-13189	57	7	the	the	DET
fbem-13189	57	8	stepwise	stepwise	PROPN
fbem-13189	57	9	regression	regression	NOUN
fbem-13189	57	10	method	method	PROPN
fbem-13189	57	11	lnfer	lnfer	PROPN
fbem-13189	57	12	ucs	ucs	PROPN
fbem-13189	57	13	lnfdi	lnfdi	PROPN
fbem-13189	57	14	gdpr	gdpr	PROPN
fbem-13189	57	15	uccpi	uccpi	ADJ
fbem-13189	57	16	lnbop	lnbop	NOUN
fbem-13189	57	17	r²	r²	NOUN
fbem-13189	57	18	ucer	ucer	NOUN
fbem-13189	57	19	=	=	SYM
fbem-13189	57	20	f(lnfer	f(lnfer	NOUN
fbem-13189	57	21	)	)	PUNCT
fbem-13189	57	22	ucer	ucer	NOUN
fbem-13189	57	23	=	=	NOUN
fbem-13189	57	24	f(lnfer	f(lnfer	NOUN
fbem-13189	57	25	,	,	PUNCT
fbem-13189	57	26	ucs	ucs	NOUN
fbem-13189	57	27	)	)	PUNCT
fbem-13189	57	28	ucer	ucer	NOUN
fbem-13189	57	29	=	=	NOUN
fbem-13189	57	30	f(lnfer	f(lnfer	NOUN
fbem-13189	57	31	,	,	PUNCT
fbem-13189	57	32	ucs	ucs	NOUN
fbem-13189	57	33	,	,	PUNCT
fbem-13189	57	34	lnfdi	lnfdi	ADJ
fbem-13189	57	35	)	)	PUNCT
fbem-13189	57	36	ucer	ucer	NOUN
fbem-13189	57	37	=	=	NOUN
fbem-13189	57	38	f(lnfer	f(lnfer	NOUN
fbem-13189	57	39	,	,	PUNCT
fbem-13189	57	40	ucs	ucs	NOUN
fbem-13189	57	41	,	,	PUNCT
fbem-13189	57	42	gdpr	gdpr	NOUN
fbem-13189	57	43	ucer	ucer	NOUN
fbem-13189	57	44	=	=	SYM
fbem-13189	57	45	f(lnfer	f(lnfer	NOUN
fbem-13189	57	46	,	,	PUNCT
fbem-13189	57	47	ucs	ucs	NOUN
fbem-13189	57	48	,	,	PUNCT
fbem-13189	57	49	uccpi	uccpi	ADJ
fbem-13189	57	50	)	)	PUNCT
fbem-13189	57	51	ucer	ucer	NOUN
fbem-13189	57	52	=	=	NOUN
fbem-13189	57	53	f(lnfer	f(lnfer	NOUN
fbem-13189	57	54	,	,	PUNCT
fbem-13189	57	55	ucs	ucs	NOUN
fbem-13189	57	56	,	,	PUNCT
fbem-13189	57	57	lnbop	lnbop	NOUN
fbem-13189	57	58	)	)	PUNCT
fbem-13189	57	59	-0.945	-0.945	CCONJ
fbem-13189	57	60	(	(	PUNCT
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fbem-13189	57	62	)	)	PUNCT
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fbem-13189	57	65	(	(	PUNCT
fbem-13189	57	66	-12.43	-12.43	PROPN
fbem-13189	57	67	)	)	PUNCT
fbem-13189	57	68	(	(	PUNCT
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fbem-13189	57	70	)	)	PUNCT
fbem-13189	57	71	-0.816	-0.816	NOUN
fbem-13189	57	72	-0.131	-0.131	NUM
fbem-13189	57	73	0.075	0.075	NUM
fbem-13189	57	74	(	(	PUNCT
fbem-13189	57	75	-10.54	-10.54	PROPN
fbem-13189	57	76	)	)	PUNCT
fbem-13189	57	77	(	(	PUNCT
fbem-13189	57	78	-3.18	-3.18	NUM
fbem-13189	57	79	)	)	PUNCT
fbem-13189	57	80	(	(	PUNCT
fbem-13189	57	81	0.49	0.49	NUM
fbem-13189	57	82	)	)	PUNCT
fbem-13189	57	83	-0.783	-0.783	NOUN
fbem-13189	57	84	-0.119	-0.119	X
fbem-13189	57	85	0.012	0.012	NUM
fbem-13189	57	86	(	(	PUNCT
fbem-13189	57	87	-12.03	-12.03	ADJ
fbem-13189	57	88	)	)	PUNCT
fbem-13189	57	89	(	(	PUNCT
fbem-13189	57	90	-2.89	-2.89	NOUN
fbem-13189	57	91	)	)	PUNCT
fbem-13189	57	92	(	(	PUNCT
fbem-13189	57	93	1.02	1.02	NUM
fbem-13189	57	94	)	)	PUNCT
fbem-13189	57	95	-0.792	-0.792	PUNCT
fbem-13189	57	96	-0.137	-0.137	X
fbem-13189	57	97	0.016	0.016	NUM
fbem-13189	57	98	(	(	PUNCT
fbem-13189	57	99	-12.39	-12.39	PROPN
fbem-13189	57	100	)	)	PUNCT
fbem-13189	57	101	(	(	PUNCT
fbem-13189	57	102	-3.33	-3.33	NOUN
fbem-13189	57	103	)	)	PUNCT
fbem-13189	57	104	(	(	PUNCT
fbem-13189	57	105	1.12	1.12	NUM
fbem-13189	57	106	)	)	PUNCT
fbem-13189	57	107	-0.845	-0.845	NOUN
fbem-13189	57	108	-0.106	-0.106	NUM
fbem-13189	57	109	0.119	0.119	NUM
fbem-13189	57	110	(	(	PUNCT
fbem-13189	57	111	-12.79	-12.79	PROPN
fbem-13189	57	112	)	)	PUNCT
fbem-13189	57	113	(	(	PUNCT
fbem-13189	57	114	-2.62	-2.62	NUM
fbem-13189	57	115	)	)	PUNCT
fbem-13189	57	116	(	(	PUNCT
fbem-13189	57	117	2.29	2.29	NUM
fbem-13189	57	118	)	)	PUNCT
fbem-13189	57	119	0.842	0.842	NUM
fbem-13189	57	120	0.859	0.859	NUM
fbem-13189	57	121	0.859	0.859	NUM
fbem-13189	57	122	0.861	0.861	NUM
fbem-13189	57	123	0.861	0.861	NUM
fbem-13189	57	124	0.868	0.868	NUM
fbem-13189	57	125	note	note	NOUN
fbem-13189	57	126	:	:	PUNCT
fbem-13189	57	127	values	value	NOUN
fbem-13189	57	128	in	in	ADP
fbem-13189	57	129	parentheses	parenthesis	NOUN
fbem-13189	57	130	are	be	AUX
fbem-13189	57	131	t	t	NOUN
fbem-13189	57	132	-	-	PUNCT
fbem-13189	57	133	statistics	statistic	NOUN
fbem-13189	57	134	for	for	ADP
fbem-13189	57	135	each	each	DET
fbem-13189	57	136	explanatory	explanatory	ADJ
fbem-13189	57	137	variable	variable	NOUN
fbem-13189	57	138	75	75	NUM
fbem-13189	57	139	the	the	DET
fbem-13189	57	140	study	study	NOUN
fbem-13189	57	141	compared	compare	VERB
fbem-13189	57	142	and	and	CCONJ
fbem-13189	57	143	analysed	analyse	VERB
fbem-13189	57	144	the	the	DET
fbem-13189	57	145	regression	regression	NOUN
fbem-13189	57	146	results	result	NOUN
fbem-13189	57	147	of	of	ADP
fbem-13189	57	148	the	the	DET
fbem-13189	57	149	modified	modify	VERB
fbem-13189	57	150	ternary	ternary	ADJ
fbem-13189	57	151	regression	regression	NOUN
fbem-13189	57	152	model	model	NOUN
fbem-13189	57	153	in	in	ADP
fbem-13189	57	154	the	the	DET
fbem-13189	57	155	preinternationalisation	preinternationalisation	NOUN
fbem-13189	57	156	and	and	CCONJ
fbem-13189	57	157	development	development	NOUN
fbem-13189	57	158	periods	period	NOUN
fbem-13189	57	159	of	of	ADP
fbem-13189	57	160	the	the	DET
fbem-13189	57	161	rmb	rmb	NOUN
fbem-13189	57	162	through	through	ADP
fbem-13189	57	163	further	further	ADJ
fbem-13189	57	164	benchmark	benchmark	NOUN
fbem-13189	57	165	regressions	regression	NOUN
fbem-13189	57	166	to	to	PART
fbem-13189	57	167	test	test	VERB
fbem-13189	57	168	the	the	DET
fbem-13189	57	169	statistical	statistical	ADJ
fbem-13189	57	170	model	model	NOUN
fbem-13189	57	171	derived	derive	VERB
fbem-13189	57	172	from	from	ADP
fbem-13189	57	173	the	the	DET
fbem-13189	57	174	stepwise	stepwise	PROPN
fbem-13189	57	175	regression	regression	NOUN
fbem-13189	57	176	analysis	analysis	NOUN
fbem-13189	57	177	,	,	PUNCT
fbem-13189	57	178	with	with	ADP
fbem-13189	57	179	the	the	DET
fbem-13189	57	180	following	follow	VERB
fbem-13189	57	181	results	result	NOUN
fbem-13189	57	182	in	in	ADP
fbem-13189	57	183	table	table	NOUN
fbem-13189	57	184	6	6	NUM
fbem-13189	57	185	and	and	CCONJ
fbem-13189	57	186	7	7	NUM
fbem-13189	57	187	:	:	PUNCT
fbem-13189	57	188	table	table	NOUN
fbem-13189	57	189	6	6	NUM
fbem-13189	57	190	.	.	PUNCT
fbem-13189	58	1	stata	stata	PROPN
fbem-13189	58	2	output	output	NOUN
fbem-13189	58	3	of	of	ADP
fbem-13189	58	4	the	the	DET
fbem-13189	58	5	modified	modify	VERB
fbem-13189	58	6	model	model	NOUN
fbem-13189	58	7	(	(	PUNCT
fbem-13189	58	8	rmbi=0	rmbi=0	NOUN
fbem-13189	58	9	)	)	PUNCT
fbem-13189	58	10	ucer	ucer	NOUN
fbem-13189	58	11	coef	coef	PROPN
fbem-13189	58	12	.	.	PUNCT
fbem-13189	59	1	st	st	PROPN
fbem-13189	59	2	.	.	PROPN
fbem-13189	59	3	err	err	PROPN
fbem-13189	59	4	.	.	PUNCT
fbem-13189	60	1	t	t	NOUN
fbem-13189	60	2	-	-	PUNCT
fbem-13189	60	3	value	value	NOUN
fbem-13189	60	4	p	p	NOUN
fbem-13189	60	5	-	-	PUNCT
fbem-13189	60	6	value	value	NOUN
fbem-13189	60	7	[	[	X
fbem-13189	60	8	95	95	NUM
fbem-13189	60	9	%	%	NOUN
fbem-13189	60	10	conf	conf	NOUN
fbem-13189	60	11	interval	interval	NOUN
fbem-13189	60	12	]	]	X
fbem-13189	60	13	sig	sig	PRON
fbem-13189	60	14	lnfer	lnfer	VERB
fbem-13189	60	15	-0.94	-0.94	NUM
fbem-13189	60	16	0.072	0.072	NUM
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fbem-13189	60	22	*	*	PUNCT
fbem-13189	60	23	*	*	PUNCT
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fbem-13189	61	1	*	*	PUNCT
fbem-13189	61	2	*	*	PUNCT
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fbem-13189	61	7	0.001	0.001	NUM
fbem-13189	61	8	0.075	0.075	NUM
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fbem-13189	62	1	*	*	PUNCT
fbem-13189	62	2	*	*	PUNCT
fbem-13189	62	3	*	*	PUNCT
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fbem-13189	62	6	0.715	0.715	NUM
fbem-13189	62	7	23.18	23.18	NUM
fbem-13189	62	8	0	0	NUM
fbem-13189	62	9	15.131	15.131	NUM
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fbem-13189	62	11	*	*	PUNCT
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fbem-13189	63	3	-	-	PUNCT
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fbem-13189	63	8	obs	obs	PROPN
fbem-13189	63	9	58	58	NUM
fbem-13189	63	10	f	f	NOUN
fbem-13189	63	11	-	-	PUNCT
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fbem-13189	63	16	f	f	PROPN
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fbem-13189	63	19	crit	crit	NOUN
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fbem-13189	64	1	(	(	PUNCT
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fbem-13189	64	3	)	)	PUNCT
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fbem-13189	64	6	crit	crit	NOUN
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fbem-13189	65	1	(	(	PUNCT
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fbem-13189	65	3	)	)	PUNCT
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fbem-13189	66	1	*	*	PUNCT
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fbem-13189	66	20	model	model	NOUN
fbem-13189	66	21	(	(	PUNCT
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fbem-13189	66	36	value	value	NOUN
fbem-13189	66	37	[	[	X
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fbem-13189	66	39	%	%	NOUN
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fbem-13189	66	41	interval	interval	NOUN
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fbem-13189	66	44	lnfer	lnfer	VERB
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fbem-13189	66	48	0	0	NUM
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fbem-13189	67	5	0.04	0.04	NUM
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fbem-13189	67	17	dependent	dependent	ADJ
fbem-13189	67	18	var	var	NOUN
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fbem-13189	67	20	sd	sd	ADP
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fbem-13189	67	30	obs	obs	PROPN
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fbem-13189	67	38	f	f	PROPN
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fbem-13189	71	4	,	,	PUNCT
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fbem-13189	71	9	*	*	SYM
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fbem-13189	71	12	the	the	DET
fbem-13189	71	13	regression	regression	NOUN
fbem-13189	71	14	results	result	NOUN
fbem-13189	71	15	for	for	ADP
fbem-13189	71	16	the	the	DET
fbem-13189	71	17	preinternationalisation	preinternationalisation	NOUN
fbem-13189	71	18	period	period	NOUN
fbem-13189	71	19	and	and	CCONJ
fbem-13189	71	20	the	the	DET
fbem-13189	71	21	development	development	NOUN
fbem-13189	71	22	period	period	NOUN
fbem-13189	71	23	of	of	ADP
fbem-13189	71	24	rmb	rmb	NOUN
fbem-13189	71	25	internationalisation	internationalisation	NOUN
fbem-13189	71	26	,	,	PUNCT
fbem-13189	71	27	we	we	PRON
fbem-13189	71	28	can	can	AUX
fbem-13189	71	29	conclude	conclude	VERB
fbem-13189	71	30	that	that	SCONJ
fbem-13189	71	31	when	when	SCONJ
fbem-13189	71	32	rmb	rmb	NOUN
fbem-13189	71	33	internationalisation	internationalisation	NOUN
fbem-13189	71	34	enters	enter	VERB
fbem-13189	71	35	the	the	DET
fbem-13189	71	36	development	development	NOUN
fbem-13189	71	37	period	period	NOUN
fbem-13189	71	38	,	,	PUNCT
fbem-13189	71	39	only	only	ADV
fbem-13189	71	40	foreign	foreign	ADJ
fbem-13189	71	41	exchange	exchange	NOUN
fbem-13189	71	42	reserves	reserve	NOUN
fbem-13189	71	43	have	have	VERB
fbem-13189	71	44	a	a	DET
fbem-13189	71	45	significant	significant	ADJ
fbem-13189	71	46	effect	effect	NOUN
fbem-13189	71	47	on	on	ADP
fbem-13189	71	48	the	the	DET
fbem-13189	71	49	rmb	rmb	PROPN
fbem-13189	71	50	exchange	exchange	NOUN
fbem-13189	71	51	rate	rate	NOUN
fbem-13189	71	52	,	,	PUNCT
fbem-13189	71	53	and	and	CCONJ
fbem-13189	71	54	the	the	DET
fbem-13189	71	55	effect	effect	NOUN
fbem-13189	71	56	is	be	AUX
fbem-13189	71	57	greater	great	ADJ
fbem-13189	71	58	compared	compare	VERB
fbem-13189	71	59	to	to	ADP
fbem-13189	71	60	the	the	DET
fbem-13189	71	61	pre	pre	ADJ
fbem-13189	71	62	-	-	ADJ
fbem-13189	71	63	internationalisation	internationalisation	ADJ
fbem-13189	71	64	period	period	NOUN
fbem-13189	71	65	,	,	PUNCT
fbem-13189	71	66	but	but	CCONJ
fbem-13189	71	67	there	there	PRON
fbem-13189	71	68	is	be	VERB
fbem-13189	71	69	no	no	DET
fbem-13189	71	70	significant	significant	ADJ
fbem-13189	71	71	evidence	evidence	NOUN
fbem-13189	71	72	that	that	SCONJ
fbem-13189	71	73	the	the	DET
fbem-13189	71	74	us	us	PROPN
fbem-13189	71	75	-	-	PUNCT
fbem-13189	71	76	china	china	PROPN
fbem-13189	71	77	interest	interest	NOUN
fbem-13189	71	78	rate	rate	NOUN
fbem-13189	71	79	differential	differential	NOUN
fbem-13189	71	80	or	or	CCONJ
fbem-13189	71	81	balance	balance	NOUN
fbem-13189	71	82	of	of	ADP
fbem-13189	71	83	payments	payment	NOUN
fbem-13189	71	84	differential	differential	NOUN
fbem-13189	71	85	has	have	AUX
fbem-13189	71	86	an	an	DET
fbem-13189	71	87	equally	equally	ADV
fbem-13189	71	88	significant	significant	ADJ
fbem-13189	71	89	effect	effect	NOUN
fbem-13189	71	90	on	on	ADP
fbem-13189	71	91	the	the	DET
fbem-13189	71	92	rmb	rmb	PROPN
fbem-13189	71	93	exchange	exchange	NOUN
fbem-13189	71	94	rate	rate	NOUN
fbem-13189	71	95	.	.	PUNCT
fbem-13189	72	1	(	(	PUNCT
fbem-13189	72	2	2	2	X
fbem-13189	72	3	)	)	PUNCT
fbem-13189	72	4	autocorrelation	autocorrelation	NOUN
fbem-13189	72	5	tests	test	NOUN
fbem-13189	72	6	and	and	CCONJ
fbem-13189	72	7	corrections	correction	NOUN
fbem-13189	72	8	in	in	ADP
fbem-13189	72	9	this	this	DET
fbem-13189	72	10	paper	paper	NOUN
fbem-13189	72	11	,	,	PUNCT
fbem-13189	72	12	the	the	DET
fbem-13189	72	13	bg	bg	PROPN
fbem-13189	72	14	test	test	NOUN
fbem-13189	72	15	was	be	AUX
fbem-13189	72	16	used	use	VERB
fbem-13189	72	17	to	to	PART
fbem-13189	72	18	test	test	VERB
fbem-13189	72	19	the	the	DET
fbem-13189	72	20	autocorrelation	autocorrelation	NOUN
fbem-13189	72	21	of	of	ADP
fbem-13189	72	22	the	the	DET
fbem-13189	72	23	model	model	NOUN
fbem-13189	72	24	and	and	CCONJ
fbem-13189	72	25	the	the	DET
fbem-13189	72	26	following	following	ADJ
fbem-13189	72	27	results	result	NOUN
fbem-13189	72	28	were	be	AUX
fbem-13189	72	29	obtained	obtain	VERB
fbem-13189	72	30	:	:	PUNCT
fbem-13189	72	31	table	table	NOUN
fbem-13189	72	32	8	8	NUM
fbem-13189	72	33	.	.	PUNCT
fbem-13189	73	1	bg	bg	PROPN
fbem-13189	73	2	test	test	NOUN
fbem-13189	73	3	results	result	VERB
fbem-13189	73	4	number	number	NOUN
fbem-13189	73	5	of	of	ADP
fbem-13189	73	6	gaps	gap	NOUN
fbem-13189	73	7	in	in	ADP
fbem-13189	73	8	sample	sample	NOUN
fbem-13189	73	9	=	=	NOUN
fbem-13189	73	10	25	25	NUM
fbem-13189	73	11	breusch	breusch	NOUN
fbem-13189	73	12	-	-	PUNCT
fbem-13189	73	13	godfrey	godfrey	NOUN
fbem-13189	73	14	lm	lm	PROPN
fbem-13189	73	15	test	test	NOUN
fbem-13189	73	16	for	for	ADP
fbem-13189	73	17	autocorrelation	autocorrelation	NOUN
fbem-13189	73	18	chi2	chi2	PROPN
fbem-13189	73	19	df	df	PROPN
fbem-13189	73	20	prob	prob	PROPN
fbem-13189	73	21	>	>	PROPN
fbem-13189	73	22	chi2	chi2	PROPN
fbem-13189	73	23	0.000	0.000	NUM
fbem-13189	73	24	1	1	NUM
fbem-13189	73	25	1.000	1.000	NUM
fbem-13189	73	26	h0	h0	NOUN
fbem-13189	73	27	:	:	PUNCT
fbem-13189	73	28	no	no	DET
fbem-13189	73	29	serial	serial	ADJ
fbem-13189	73	30	correlation	correlation	NOUN
fbem-13189	73	31	according	accord	VERB
fbem-13189	73	32	to	to	ADP
fbem-13189	73	33	the	the	DET
fbem-13189	73	34	results	result	NOUN
fbem-13189	73	35	in	in	ADP
fbem-13189	73	36	table	table	NOUN
fbem-13189	73	37	8	8	NUM
fbem-13189	73	38	,	,	PUNCT
fbem-13189	73	39	the	the	DET
fbem-13189	73	40	lm	lm	ADJ
fbem-13189	73	41	corresponds	correspond	VERB
fbem-13189	73	42	to	to	ADP
fbem-13189	73	43	a	a	DET
fbem-13189	73	44	concomitant	concomitant	ADJ
fbem-13189	73	45	probability	probability	NOUN
fbem-13189	73	46	p=1>0.05	p=1>0.05	NOUN
fbem-13189	73	47	and	and	CCONJ
fbem-13189	73	48	therefore	therefore	ADV
fbem-13189	73	49	the	the	DET
fbem-13189	73	50	original	original	ADJ
fbem-13189	73	51	hypothesis	hypothesis	NOUN
fbem-13189	73	52	is	be	AUX
fbem-13189	73	53	rejected	reject	VERB
fbem-13189	73	54	and	and	CCONJ
fbem-13189	73	55	the	the	DET
fbem-13189	73	56	model	model	NOUN
fbem-13189	73	57	is	be	AUX
fbem-13189	73	58	not	not	PART
fbem-13189	73	59	autocorrelated	autocorrelated	ADJ
fbem-13189	73	60	.	.	PUNCT
fbem-13189	74	1	(	(	PUNCT
fbem-13189	74	2	3	3	X
fbem-13189	74	3	)	)	PUNCT
fbem-13189	74	4	heteroskedasticity	heteroskedasticity	NOUN
fbem-13189	74	5	test	test	NOUN
fbem-13189	74	6	and	and	CCONJ
fbem-13189	74	7	correction	correction	NOUN
fbem-13189	74	8	in	in	ADP
fbem-13189	74	9	this	this	DET
fbem-13189	74	10	paper	paper	NOUN
fbem-13189	74	11	,	,	PUNCT
fbem-13189	74	12	the	the	DET
fbem-13189	74	13	white	white	ADJ
fbem-13189	74	14	test	test	NOUN
fbem-13189	74	15	was	be	AUX
fbem-13189	74	16	used	use	VERB
fbem-13189	74	17	to	to	PART
fbem-13189	74	18	test	test	VERB
fbem-13189	74	19	the	the	DET
fbem-13189	74	20	heteroskedasticity	heteroskedasticity	NOUN
fbem-13189	74	21	of	of	ADP
fbem-13189	74	22	the	the	DET
fbem-13189	74	23	model	model	NOUN
fbem-13189	74	24	and	and	CCONJ
fbem-13189	74	25	the	the	DET
fbem-13189	74	26	following	following	ADJ
fbem-13189	74	27	results	result	NOUN
fbem-13189	74	28	were	be	AUX
fbem-13189	74	29	obtained	obtain	VERB
fbem-13189	74	30	:	:	PUNCT
fbem-13189	74	31	table	table	NOUN
fbem-13189	74	32	9	9	NUM
fbem-13189	74	33	.	.	PUNCT
fbem-13189	74	34	white	white	ADJ
fbem-13189	74	35	test	test	NOUN
fbem-13189	74	36	results	result	VERB
fbem-13189	74	37	white	white	PROPN
fbem-13189	74	38	's	's	PART
fbem-13189	74	39	test	test	NOUN
fbem-13189	74	40	h0	h0	NOUN
fbem-13189	74	41	:	:	PUNCT
fbem-13189	74	42	homoskedasticity	homoskedasticity	NOUN
fbem-13189	74	43	ha	ha	INTJ
fbem-13189	74	44	:	:	PUNCT
fbem-13189	74	45	unrestricted	unrestricted	ADJ
fbem-13189	74	46	heteroskedasticity	heteroskedasticity	NOUN
fbem-13189	74	47	chi2(9	chi2(9	PROPN
fbem-13189	74	48	)	)	PUNCT
fbem-13189	75	1	=	=	SYM
fbem-13189	75	2	11.96	11.96	NUM
fbem-13189	75	3	prob	prob	NOUN
fbem-13189	75	4	>	>	X
fbem-13189	75	5	chi2	chi2	PROPN
fbem-13189	75	6	=	=	PROPN
fbem-13189	75	7	0.2155	0.2155	NUM
fbem-13189	75	8	cameron	cameron	PROPN
fbem-13189	75	9	&	&	CCONJ
fbem-13189	75	10	trivedi	trivedi	PROPN
fbem-13189	75	11	's	's	PART
fbem-13189	75	12	decomposition	decomposition	NOUN
fbem-13189	75	13	of	of	ADP
fbem-13189	75	14	im	im	NOUN
fbem-13189	75	15	-	-	PUNCT
fbem-13189	75	16	test	test	NOUN
fbem-13189	75	17	chi2	chi2	PROPN
fbem-13189	75	18	df	df	PROPN
fbem-13189	75	19	p	p	PROPN
fbem-13189	75	20	11.960	11.960	NUM
fbem-13189	75	21	9	9	NUM
fbem-13189	75	22	0.215	0.215	NUM
fbem-13189	75	23	2.260	2.260	NUM
fbem-13189	75	24	3	3	NUM
fbem-13189	75	25	0.520	0.520	NUM
fbem-13189	75	26	0.290	0.290	NUM
fbem-13189	75	27	1	1	NUM
fbem-13189	75	28	0.592	0.592	NUM
fbem-13189	75	29	14.510	14.510	NUM
fbem-13189	75	30	13	13	NUM
fbem-13189	75	31	0.339	0.339	NUM
fbem-13189	75	32	table	table	NOUN
fbem-13189	75	33	9	9	NUM
fbem-13189	75	34	shows	show	VERB
fbem-13189	75	35	that	that	SCONJ
fbem-13189	75	36	the	the	DET
fbem-13189	75	37	white	white	ADJ
fbem-13189	75	38	test	test	NOUN
fbem-13189	75	39	corresponds	correspond	VERB
fbem-13189	75	40	to	to	ADP
fbem-13189	75	41	a	a	DET
fbem-13189	75	42	concomitant	concomitant	ADJ
fbem-13189	75	43	probability	probability	NOUN
fbem-13189	75	44	of	of	ADP
fbem-13189	75	45	p=0.215>0.05	p=0.215>0.05	NOUN
fbem-13189	75	46	,	,	PUNCT
fbem-13189	75	47	therefore	therefore	ADV
fbem-13189	75	48	the	the	DET
fbem-13189	75	49	76	76	NUM
fbem-13189	75	50	original	original	ADJ
fbem-13189	75	51	hypothesis	hypothesis	NOUN
fbem-13189	75	52	is	be	AUX
fbem-13189	75	53	rejected	reject	VERB
fbem-13189	75	54	and	and	CCONJ
fbem-13189	75	55	there	there	PRON
fbem-13189	75	56	is	be	VERB
fbem-13189	75	57	no	no	DET
fbem-13189	75	58	heteroscedasticity	heteroscedasticity	NOUN
fbem-13189	75	59	in	in	ADP
fbem-13189	75	60	the	the	DET
fbem-13189	75	61	model	model	NOUN
fbem-13189	75	62	.	.	PUNCT
fbem-13189	76	1	3	3	X
fbem-13189	76	2	.	.	X
fbem-13189	76	3	conclusions	conclusion	NOUN
fbem-13189	76	4	and	and	CCONJ
fbem-13189	76	5	policy	policy	NOUN
fbem-13189	76	6	recommendations	recommendation	NOUN
fbem-13189	76	7	3.1	3.1	NUM
fbem-13189	76	8	.	.	PUNCT
fbem-13189	77	1	empirical	empirical	ADJ
fbem-13189	77	2	findings	finding	NOUN
fbem-13189	77	3	and	and	CCONJ
fbem-13189	77	4	analysis	analysis	NOUN
fbem-13189	77	5	of	of	ADP
fbem-13189	77	6	results	result	NOUN
fbem-13189	77	7	based	base	VERB
fbem-13189	77	8	on	on	ADP
fbem-13189	77	9	the	the	DET
fbem-13189	77	10	data	datum	NOUN
fbem-13189	77	11	of	of	ADP
fbem-13189	77	12	exchange	exchange	NOUN
fbem-13189	77	13	rate	rate	NOUN
fbem-13189	77	14	and	and	CCONJ
fbem-13189	77	15	its	its	PRON
fbem-13189	77	16	related	related	ADJ
fbem-13189	77	17	influencing	influence	VERB
fbem-13189	77	18	factors	factor	NOUN
fbem-13189	77	19	in	in	ADP
fbem-13189	77	20	china	china	PROPN
fbem-13189	77	21	for	for	ADP
fbem-13189	77	22	two	two	NUM
fbem-13189	77	23	decades	decade	NOUN
fbem-13189	77	24	,	,	PUNCT
fbem-13189	77	25	including	include	VERB
fbem-13189	77	26	2002	2002	NUM
fbem-13189	77	27	to	to	ADP
fbem-13189	77	28	2022	2022	NUM
fbem-13189	77	29	,	,	PUNCT
fbem-13189	77	30	as	as	ADP
fbem-13189	77	31	a	a	DET
fbem-13189	77	32	sample	sample	NOUN
fbem-13189	77	33	,	,	PUNCT
fbem-13189	77	34	by	by	ADP
fbem-13189	77	35	establishing	establish	VERB
fbem-13189	77	36	a	a	DET
fbem-13189	77	37	multivariate	multivariate	NOUN
fbem-13189	77	38	it	it	PRON
fbem-13189	77	39	is	be	AUX
fbem-13189	77	40	found	find	VERB
fbem-13189	77	41	that	that	SCONJ
fbem-13189	77	42	in	in	ADP
fbem-13189	77	43	the	the	DET
fbem-13189	77	44	early	early	ADJ
fbem-13189	77	45	stage	stage	NOUN
fbem-13189	77	46	of	of	ADP
fbem-13189	77	47	rmb	rmb	NOUN
fbem-13189	77	48	internationalisation	internationalisation	NOUN
fbem-13189	77	49	,	,	PUNCT
fbem-13189	77	50	an	an	DET
fbem-13189	77	51	increase	increase	NOUN
fbem-13189	77	52	in	in	ADP
fbem-13189	77	53	the	the	DET
fbem-13189	77	54	amount	amount	NOUN
fbem-13189	77	55	of	of	ADP
fbem-13189	77	56	foreign	foreign	ADJ
fbem-13189	77	57	exchange	exchange	NOUN
fbem-13189	77	58	reserves	reserve	NOUN
fbem-13189	77	59	and	and	CCONJ
fbem-13189	77	60	an	an	DET
fbem-13189	77	61	increase	increase	NOUN
fbem-13189	77	62	in	in	ADP
fbem-13189	77	63	the	the	DET
fbem-13189	77	64	sino	sino	ADJ
fbem-13189	77	65	-	-	PUNCT
fbem-13189	77	66	us	us	PROPN
fbem-13189	77	67	interest	interest	NOUN
fbem-13189	77	68	rate	rate	NOUN
fbem-13189	77	69	differential	differential	NOUN
fbem-13189	77	70	will	will	AUX
fbem-13189	77	71	significantly	significantly	ADV
fbem-13189	77	72	reduce	reduce	VERB
fbem-13189	77	73	the	the	DET
fbem-13189	77	74	rmb	rmb	PROPN
fbem-13189	77	75	exchange	exchange	NOUN
fbem-13189	77	76	rate	rate	NOUN
fbem-13189	77	77	,	,	PUNCT
fbem-13189	77	78	i.e.	i.e.	X
fbem-13189	77	79	causing	cause	VERB
fbem-13189	77	80	the	the	DET
fbem-13189	77	81	rmb	rmb	NOUN
fbem-13189	77	82	to	to	PART
fbem-13189	77	83	appreciate	appreciate	VERB
fbem-13189	77	84	,	,	PUNCT
fbem-13189	77	85	while	while	SCONJ
fbem-13189	77	86	the	the	DET
fbem-13189	77	87	rmb	rmb	PROPN
fbem-13189	77	88	exchange	exchange	NOUN
fbem-13189	77	89	rate	rate	NOUN
fbem-13189	77	90	will	will	AUX
fbem-13189	77	91	be	be	AUX
fbem-13189	77	92	significantly	significantly	ADV
fbem-13189	77	93	improved	improve	VERB
fbem-13189	77	94	by	by	ADP
fbem-13189	77	95	an	an	DET
fbem-13189	77	96	increase	increase	NOUN
fbem-13189	77	97	in	in	ADP
fbem-13189	77	98	china	china	PROPN
fbem-13189	77	99	's	's	PART
fbem-13189	77	100	balance	balance	NOUN
fbem-13189	77	101	of	of	ADP
fbem-13189	77	102	payments	payment	NOUN
fbem-13189	77	103	surplus	surplus	NOUN
fbem-13189	77	104	,	,	PUNCT
fbem-13189	77	105	i.e.	i.e.	X
fbem-13189	77	106	causing	cause	VERB
fbem-13189	77	107	the	the	DET
fbem-13189	77	108	rmb	rmb	NOUN
fbem-13189	77	109	to	to	PART
fbem-13189	77	110	depreciate	depreciate	VERB
fbem-13189	77	111	.	.	PUNCT
fbem-13189	78	1	unlike	unlike	ADP
fbem-13189	78	2	the	the	DET
fbem-13189	78	3	significant	significant	ADJ
fbem-13189	78	4	effects	effect	NOUN
fbem-13189	78	5	on	on	ADP
fbem-13189	78	6	the	the	DET
fbem-13189	78	7	rmb	rmb	PROPN
fbem-13189	78	8	exchange	exchange	NOUN
fbem-13189	78	9	rate	rate	NOUN
fbem-13189	78	10	of	of	ADP
fbem-13189	78	11	each	each	DET
fbem-13189	78	12	explanatory	explanatory	ADJ
fbem-13189	78	13	variable	variable	NOUN
fbem-13189	78	14	in	in	ADP
fbem-13189	78	15	the	the	DET
fbem-13189	78	16	pre	pre	ADJ
fbem-13189	78	17	-	-	ADJ
fbem-13189	78	18	internationalization	internationalization	ADJ
fbem-13189	78	19	modified	modify	VERB
fbem-13189	78	20	model	model	NOUN
fbem-13189	78	21	of	of	ADP
fbem-13189	78	22	the	the	DET
fbem-13189	78	23	rmb	rmb	NOUN
fbem-13189	78	24	the	the	DET
fbem-13189	78	25	impact	impact	NOUN
fbem-13189	78	26	that	that	SCONJ
fbem-13189	78	27	when	when	SCONJ
fbem-13189	78	28	the	the	DET
fbem-13189	78	29	rmb	rmb	PROPN
fbem-13189	78	30	internationalisation	internationalisation	NOUN
fbem-13189	78	31	process	process	NOUN
fbem-13189	78	32	enters	enter	VERB
fbem-13189	78	33	a	a	DET
fbem-13189	78	34	developmental	developmental	ADJ
fbem-13189	78	35	phase	phase	NOUN
fbem-13189	78	36	,	,	PUNCT
fbem-13189	78	37	only	only	ADV
fbem-13189	78	38	an	an	DET
fbem-13189	78	39	increase	increase	NOUN
fbem-13189	78	40	in	in	ADP
fbem-13189	78	41	foreign	foreign	ADJ
fbem-13189	78	42	exchange	exchange	NOUN
fbem-13189	78	43	reserves	reserve	NOUN
fbem-13189	78	44	will	will	AUX
fbem-13189	78	45	significantly	significantly	ADV
fbem-13189	78	46	increase	increase	VERB
fbem-13189	78	47	the	the	DET
fbem-13189	78	48	rmb	rmb	NOUN
fbem-13189	78	49	exchange	exchange	NOUN
fbem-13189	78	50	rate	rate	NOUN
fbem-13189	78	51	and	and	CCONJ
fbem-13189	78	52	lead	lead	VERB
fbem-13189	78	53	to	to	ADP
fbem-13189	78	54	a	a	DET
fbem-13189	78	55	depreciation	depreciation	NOUN
fbem-13189	78	56	of	of	ADP
fbem-13189	78	57	the	the	DET
fbem-13189	78	58	rmb	rmb	NOUN
fbem-13189	78	59	,	,	PUNCT
fbem-13189	78	60	which	which	PRON
fbem-13189	78	61	is	be	AUX
fbem-13189	78	62	clearly	clearly	ADV
fbem-13189	78	63	this	this	PRON
fbem-13189	78	64	is	be	AUX
fbem-13189	78	65	clearly	clearly	ADV
fbem-13189	78	66	inconsistent	inconsistent	ADJ
fbem-13189	78	67	with	with	ADP
fbem-13189	78	68	the	the	DET
fbem-13189	78	69	actual	actual	ADJ
fbem-13189	78	70	situation	situation	NOUN
fbem-13189	78	71	.	.	PUNCT
fbem-13189	79	1	the	the	DET
fbem-13189	79	2	reason	reason	NOUN
fbem-13189	79	3	for	for	ADP
fbem-13189	79	4	this	this	PRON
fbem-13189	79	5	may	may	AUX
fbem-13189	79	6	be	be	AUX
fbem-13189	79	7	that	that	SCONJ
fbem-13189	79	8	as	as	SCONJ
fbem-13189	79	9	the	the	DET
fbem-13189	79	10	rmb	rmb	PROPN
fbem-13189	79	11	internationalisation	internationalisation	NOUN
fbem-13189	79	12	process	process	NOUN
fbem-13189	79	13	develops	develop	VERB
fbem-13189	79	14	,	,	PUNCT
fbem-13189	79	15	the	the	DET
fbem-13189	79	16	disturbances	disturbance	NOUN
fbem-13189	79	17	in	in	ADP
fbem-13189	79	18	the	the	DET
fbem-13189	79	19	external	external	ADJ
fbem-13189	79	20	economic	economic	ADJ
fbem-13189	79	21	environment	environment	NOUN
fbem-13189	79	22	increase	increase	NOUN
fbem-13189	79	23	,	,	PUNCT
fbem-13189	79	24	the	the	DET
fbem-13189	79	25	uncontrollable	uncontrollable	ADJ
fbem-13189	79	26	factors	factor	NOUN
fbem-13189	79	27	of	of	ADP
fbem-13189	79	28	exchange	exchange	NOUN
fbem-13189	79	29	rate	rate	NOUN
fbem-13189	79	30	fluctuations	fluctuation	NOUN
fbem-13189	79	31	become	become	VERB
fbem-13189	79	32	more	more	ADV
fbem-13189	79	33	and	and	CCONJ
fbem-13189	79	34	more	more	ADV
fbem-13189	79	35	frequent	frequent	ADJ
fbem-13189	79	36	.	.	PUNCT
fbem-13189	80	1	3.2	3.2	NUM
fbem-13189	80	2	.	.	PUNCT
fbem-13189	81	1	policy	policy	NOUN
fbem-13189	81	2	recommendations	recommendation	NOUN
fbem-13189	81	3	3.2.1	3.2.1	NUM
fbem-13189	81	4	.	.	PUNCT
fbem-13189	82	1	combining	combine	VERB
fbem-13189	82	2	exchange	exchange	NOUN
fbem-13189	82	3	rate	rate	NOUN
fbem-13189	82	4	policy	policy	NOUN
fbem-13189	82	5	measures	measure	NOUN
fbem-13189	82	6	to	to	PART
fbem-13189	82	7	enhance	enhance	VERB
fbem-13189	82	8	optimal	optimal	ADJ
fbem-13189	82	9	management	management	NOUN
fbem-13189	82	10	of	of	ADP
fbem-13189	82	11	foreign	foreign	ADJ
fbem-13189	82	12	exchange	exchange	NOUN
fbem-13189	82	13	reserves	reserve	NOUN
fbem-13189	82	14	adequate	adequate	ADJ
fbem-13189	82	15	foreign	foreign	ADJ
fbem-13189	82	16	exchange	exchange	NOUN
fbem-13189	82	17	reserves	reserve	NOUN
fbem-13189	82	18	can	can	AUX
fbem-13189	82	19	maintain	maintain	VERB
fbem-13189	82	20	the	the	DET
fbem-13189	82	21	stability	stability	NOUN
fbem-13189	82	22	of	of	ADP
fbem-13189	82	23	currency	currency	NOUN
fbem-13189	82	24	exchange	exchange	NOUN
fbem-13189	82	25	rates	rate	NOUN
fbem-13189	82	26	,	,	PUNCT
fbem-13189	82	27	promote	promote	VERB
fbem-13189	82	28	international	international	ADJ
fbem-13189	82	29	trade	trade	NOUN
fbem-13189	82	30	and	and	CCONJ
fbem-13189	82	31	investment	investment	NOUN
fbem-13189	82	32	,	,	PUNCT
fbem-13189	82	33	and	and	CCONJ
fbem-13189	82	34	when	when	SCONJ
fbem-13189	82	35	the	the	DET
fbem-13189	82	36	financial	financial	ADJ
fbem-13189	82	37	market	market	NOUN
fbem-13189	82	38	has	have	VERB
fbem-13189	82	39	a	a	DET
fbem-13189	82	40	serious	serious	ADJ
fbem-13189	82	41	impact	impact	NOUN
fbem-13189	82	42	,	,	PUNCT
fbem-13189	82	43	it	it	PRON
fbem-13189	82	44	has	have	VERB
fbem-13189	82	45	the	the	DET
fbem-13189	82	46	function	function	NOUN
fbem-13189	82	47	of	of	ADP
fbem-13189	82	48	maintaining	maintain	VERB
fbem-13189	82	49	market	market	NOUN
fbem-13189	82	50	stability	stability	NOUN
fbem-13189	82	51	,	,	PUNCT
fbem-13189	82	52	while	while	SCONJ
fbem-13189	82	53	the	the	DET
fbem-13189	82	54	size	size	NOUN
fbem-13189	82	55	,	,	PUNCT
fbem-13189	82	56	composition	composition	NOUN
fbem-13189	82	57	and	and	CCONJ
fbem-13189	82	58	use	use	NOUN
fbem-13189	82	59	of	of	ADP
fbem-13189	82	60	foreign	foreign	ADJ
fbem-13189	82	61	exchange	exchange	NOUN
fbem-13189	82	62	reserves	reserve	NOUN
fbem-13189	82	63	also	also	ADV
fbem-13189	82	64	affect	affect	VERB
fbem-13189	82	65	the	the	DET
fbem-13189	82	66	exchange	exchange	NOUN
fbem-13189	82	67	rate	rate	NOUN
fbem-13189	82	68	movement	movement	NOUN
fbem-13189	82	69	of	of	ADP
fbem-13189	82	70	the	the	DET
fbem-13189	82	71	rmb	rmb	NOUN
fbem-13189	82	72	.	.	PUNCT
fbem-13189	83	1	therefore	therefore	ADV
fbem-13189	83	2	,	,	PUNCT
fbem-13189	83	3	in	in	ADP
fbem-13189	83	4	order	order	NOUN
fbem-13189	83	5	to	to	PART
fbem-13189	83	6	maintain	maintain	VERB
fbem-13189	83	7	the	the	DET
fbem-13189	83	8	trade	trade	NOUN
fbem-13189	83	9	balance	balance	NOUN
fbem-13189	83	10	and	and	CCONJ
fbem-13189	83	11	exchange	exchange	NOUN
fbem-13189	83	12	rate	rate	NOUN
fbem-13189	83	13	stability	stability	NOUN
fbem-13189	83	14	,	,	PUNCT
fbem-13189	83	15	foreign	foreign	ADJ
fbem-13189	83	16	exchange	exchange	NOUN
fbem-13189	83	17	reserves	reserve	NOUN
fbem-13189	83	18	should	should	AUX
fbem-13189	83	19	be	be	AUX
fbem-13189	83	20	stabilised	stabilise	VERB
fbem-13189	83	21	,	,	PUNCT
fbem-13189	83	22	optimised	optimise	VERB
fbem-13189	83	23	and	and	CCONJ
fbem-13189	83	24	structurally	structurally	ADV
fbem-13189	83	25	sound	sound	ADJ
fbem-13189	83	26	,	,	PUNCT
fbem-13189	83	27	more	more	ADV
fbem-13189	83	28	stable	stable	ADJ
fbem-13189	83	29	value	value	NOUN
fbem-13189	83	30	foreign	foreign	ADJ
fbem-13189	83	31	exchange	exchange	NOUN
fbem-13189	83	32	reserve	reserve	NOUN
fbem-13189	83	33	assets	asset	NOUN
fbem-13189	83	34	should	should	AUX
fbem-13189	83	35	be	be	AUX
fbem-13189	83	36	held	hold	VERB
fbem-13189	83	37	,	,	PUNCT
fbem-13189	83	38	and	and	CCONJ
fbem-13189	83	39	the	the	DET
fbem-13189	83	40	investment	investment	NOUN
fbem-13189	83	41	income	income	NOUN
fbem-13189	83	42	from	from	ADP
fbem-13189	83	43	foreign	foreign	ADJ
fbem-13189	83	44	exchange	exchange	NOUN
fbem-13189	83	45	reserves	reserve	NOUN
fbem-13189	83	46	should	should	AUX
fbem-13189	83	47	be	be	AUX
fbem-13189	83	48	fully	fully	ADV
fbem-13189	83	49	utilised[6	utilised[6	ADJ
fbem-13189	83	50	]	]	PUNCT
fbem-13189	83	51	.	.	PUNCT
fbem-13189	84	1	at	at	ADP
fbem-13189	84	2	the	the	DET
fbem-13189	84	3	same	same	ADJ
fbem-13189	84	4	time	time	NOUN
fbem-13189	84	5	,	,	PUNCT
fbem-13189	84	6	certain	certain	ADJ
fbem-13189	84	7	mechanisms	mechanism	NOUN
fbem-13189	84	8	to	to	PART
fbem-13189	84	9	control	control	VERB
fbem-13189	84	10	exchange	exchange	NOUN
fbem-13189	84	11	rate	rate	NOUN
fbem-13189	84	12	fluctuations	fluctuation	NOUN
fbem-13189	84	13	can	can	AUX
fbem-13189	84	14	be	be	AUX
fbem-13189	84	15	adopted	adopt	VERB
fbem-13189	84	16	in	in	ADP
fbem-13189	84	17	conjunction	conjunction	NOUN
fbem-13189	84	18	with	with	ADP
fbem-13189	84	19	exchange	exchange	NOUN
fbem-13189	84	20	rate	rate	NOUN
fbem-13189	84	21	policy	policy	NOUN
fbem-13189	84	22	measures	measure	NOUN
fbem-13189	84	23	when	when	SCONJ
fbem-13189	84	24	appropriate	appropriate	ADJ
fbem-13189	84	25	.	.	PUNCT
fbem-13189	85	1	3.2.2	3.2.2	NUM
fbem-13189	85	2	.	.	PUNCT
fbem-13189	85	3	reasonable	reasonable	ADJ
fbem-13189	85	4	use	use	NOUN
fbem-13189	85	5	of	of	ADP
fbem-13189	85	6	monetary	monetary	ADJ
fbem-13189	85	7	policy	policy	NOUN
fbem-13189	85	8	to	to	PART
fbem-13189	85	9	regulate	regulate	VERB
fbem-13189	85	10	interest	interest	NOUN
fbem-13189	85	11	rates	rate	NOUN
fbem-13189	85	12	and	and	CCONJ
fbem-13189	85	13	promote	promote	VERB
fbem-13189	85	14	interest	interest	NOUN
fbem-13189	85	15	rate	rate	NOUN
fbem-13189	85	16	marketization	marketization	NOUN
fbem-13189	85	17	in	in	ADP
fbem-13189	85	18	recent	recent	ADJ
fbem-13189	85	19	years	year	NOUN
fbem-13189	85	20	,	,	PUNCT
fbem-13189	85	21	under	under	ADP
fbem-13189	85	22	the	the	DET
fbem-13189	85	23	pressure	pressure	NOUN
fbem-13189	85	24	of	of	ADP
fbem-13189	85	25	sustained	sustained	ADJ
fbem-13189	85	26	high	high	ADJ
fbem-13189	85	27	inflation	inflation	NOUN
fbem-13189	85	28	,	,	PUNCT
fbem-13189	85	29	the	the	DET
fbem-13189	85	30	federal	federal	PROPN
fbem-13189	85	31	reserve	reserve	PROPN
fbem-13189	85	32	has	have	AUX
fbem-13189	85	33	accelerated	accelerate	VERB
fbem-13189	85	34	its	its	PRON
fbem-13189	85	35	tightening	tighten	VERB
fbem-13189	85	36	policy	policy	NOUN
fbem-13189	85	37	and	and	CCONJ
fbem-13189	85	38	the	the	DET
fbem-13189	85	39	uncertain	uncertain	ADJ
fbem-13189	85	40	future	future	ADJ
fbem-13189	85	41	direction	direction	NOUN
fbem-13189	85	42	of	of	ADP
fbem-13189	85	43	the	the	DET
fbem-13189	85	44	fed	fed	PROPN
fbem-13189	85	45	's	's	PART
fbem-13189	85	46	interest	interest	NOUN
fbem-13189	85	47	rate	rate	NOUN
fbem-13189	85	48	policy	policy	NOUN
fbem-13189	85	49	has	have	AUX
fbem-13189	85	50	made	make	VERB
fbem-13189	85	51	the	the	DET
fbem-13189	85	52	future	future	ADJ
fbem-13189	85	53	direction	direction	NOUN
fbem-13189	85	54	of	of	ADP
fbem-13189	85	55	the	the	DET
fbem-13189	85	56	us	us	PROPN
fbem-13189	85	57	-	-	PUNCT
fbem-13189	85	58	china	china	PROPN
fbem-13189	85	59	interest	interest	NOUN
fbem-13189	85	60	rate	rate	NOUN
fbem-13189	85	61	differential	differential	NOUN
fbem-13189	85	62	difficult	difficult	ADJ
fbem-13189	85	63	to	to	PART
fbem-13189	85	64	predict	predict	VERB
fbem-13189	85	65	.	.	PUNCT
fbem-13189	86	1	therefore	therefore	ADV
fbem-13189	86	2	,	,	PUNCT
fbem-13189	86	3	china	china	PROPN
fbem-13189	86	4	should	should	AUX
fbem-13189	86	5	first	first	ADV
fbem-13189	86	6	set	set	VERB
fbem-13189	86	7	out	out	ADP
fbem-13189	86	8	to	to	PART
fbem-13189	86	9	prevent	prevent	VERB
fbem-13189	86	10	the	the	DET
fbem-13189	86	11	impact	impact	NOUN
fbem-13189	86	12	of	of	ADP
fbem-13189	86	13	changes	change	NOUN
fbem-13189	86	14	in	in	ADP
fbem-13189	86	15	us	us	PROPN
fbem-13189	86	16	interest	interest	NOUN
fbem-13189	86	17	rates	rate	NOUN
fbem-13189	86	18	on	on	ADP
fbem-13189	86	19	the	the	DET
fbem-13189	86	20	rmb	rmb	PROPN
fbem-13189	86	21	exchange	exchange	NOUN
fbem-13189	86	22	rate	rate	NOUN
fbem-13189	86	23	domestically	domestically	ADV
fbem-13189	86	24	and	and	CCONJ
fbem-13189	86	25	accelerate	accelerate	VERB
fbem-13189	86	26	the	the	DET
fbem-13189	86	27	pace	pace	NOUN
fbem-13189	86	28	of	of	ADP
fbem-13189	86	29	interest	interest	NOUN
fbem-13189	86	30	rate	rate	NOUN
fbem-13189	86	31	marketisation	marketisation	NOUN
fbem-13189	86	32	to	to	PART
fbem-13189	86	33	avoid	avoid	VERB
fbem-13189	86	34	abnormal	abnormal	ADJ
fbem-13189	86	35	volatility	volatility	NOUN
fbem-13189	86	36	.	.	PUNCT
fbem-13189	87	1	monetary	monetary	ADJ
fbem-13189	87	2	policy	policy	NOUN
fbem-13189	87	3	can	can	AUX
fbem-13189	87	4	adjust	adjust	VERB
fbem-13189	87	5	interest	interest	NOUN
fbem-13189	87	6	rates	rate	NOUN
fbem-13189	87	7	by	by	ADP
fbem-13189	87	8	changing	change	VERB
fbem-13189	87	9	the	the	DET
fbem-13189	87	10	discount	discount	NOUN
fbem-13189	87	11	rate	rate	NOUN
fbem-13189	87	12	to	to	PART
fbem-13189	87	13	change	change	VERB
fbem-13189	87	14	the	the	DET
fbem-13189	87	15	direction	direction	NOUN
fbem-13189	87	16	of	of	ADP
fbem-13189	87	17	capital	capital	NOUN
fbem-13189	87	18	flows	flow	VERB
fbem-13189	87	19	internationally	internationally	ADV
fbem-13189	87	20	,	,	PUNCT
fbem-13189	87	21	indirectly	indirectly	ADV
fbem-13189	87	22	causing	cause	VERB
fbem-13189	87	23	changes	change	NOUN
fbem-13189	87	24	in	in	ADP
fbem-13189	87	25	foreign	foreign	ADJ
fbem-13189	87	26	exchange	exchange	NOUN
fbem-13189	87	27	supply	supply	NOUN
fbem-13189	87	28	and	and	CCONJ
fbem-13189	87	29	demand	demand	NOUN
fbem-13189	87	30	conditions	condition	NOUN
fbem-13189	87	31	and	and	CCONJ
fbem-13189	87	32	keeping	keep	VERB
fbem-13189	87	33	exchange	exchange	NOUN
fbem-13189	87	34	rate	rate	NOUN
fbem-13189	87	35	fluctuations	fluctuation	NOUN
fbem-13189	87	36	within	within	ADP
fbem-13189	87	37	a	a	DET
fbem-13189	87	38	reasonable	reasonable	ADJ
fbem-13189	87	39	range[7	range[7	NOUN
fbem-13189	87	40	]	]	PUNCT
fbem-13189	87	41	.	.	PUNCT
fbem-13189	88	1	3.2.3	3.2.3	X
fbem-13189	88	2	.	.	X
fbem-13189	88	3	improving	improve	VERB
fbem-13189	88	4	the	the	DET
fbem-13189	88	5	efficiency	efficiency	NOUN
fbem-13189	88	6	of	of	ADP
fbem-13189	88	7	foreign	foreign	ADJ
fbem-13189	88	8	investment	investment	NOUN
fbem-13189	88	9	utilization	utilization	NOUN
fbem-13189	88	10	and	and	CCONJ
fbem-13189	88	11	maintaining	maintain	VERB
fbem-13189	88	12	balance	balance	NOUN
fbem-13189	88	13	of	of	ADP
fbem-13189	88	14	payments	payment	NOUN
fbem-13189	88	15	a	a	DET
fbem-13189	88	16	long	long	ADJ
fbem-13189	88	17	-	-	PUNCT
fbem-13189	88	18	term	term	NOUN
fbem-13189	88	19	surplus	surplus	NOUN
fbem-13189	88	20	or	or	CCONJ
fbem-13189	88	21	deficit	deficit	NOUN
fbem-13189	88	22	is	be	AUX
fbem-13189	88	23	a	a	DET
fbem-13189	88	24	sign	sign	NOUN
fbem-13189	88	25	of	of	ADP
fbem-13189	88	26	a	a	DET
fbem-13189	88	27	balance	balance	NOUN
fbem-13189	88	28	of	of	ADP
fbem-13189	88	29	payments	payment	NOUN
fbem-13189	88	30	imbalance	imbalance	NOUN
fbem-13189	88	31	and	and	CCONJ
fbem-13189	88	32	exacerbates	exacerbate	VERB
fbem-13189	88	33	exchange	exchange	NOUN
fbem-13189	88	34	rate	rate	NOUN
fbem-13189	88	35	fluctuations	fluctuation	NOUN
fbem-13189	88	36	.	.	PUNCT
fbem-13189	89	1	therefore	therefore	ADV
fbem-13189	89	2	,	,	PUNCT
fbem-13189	89	3	china	china	PROPN
fbem-13189	89	4	should	should	AUX
fbem-13189	89	5	gradually	gradually	ADV
fbem-13189	89	6	open	open	VERB
fbem-13189	89	7	up	up	ADP
fbem-13189	89	8	its	its	PRON
fbem-13189	89	9	capital	capital	NOUN
fbem-13189	89	10	account	account	NOUN
fbem-13189	89	11	,	,	PUNCT
fbem-13189	89	12	improve	improve	VERB
fbem-13189	89	13	the	the	DET
fbem-13189	89	14	efficiency	efficiency	NOUN
fbem-13189	89	15	of	of	ADP
fbem-13189	89	16	foreign	foreign	ADJ
fbem-13189	89	17	investment	investment	NOUN
fbem-13189	89	18	,	,	PUNCT
fbem-13189	89	19	and	and	CCONJ
fbem-13189	89	20	encourage	encourage	VERB
fbem-13189	89	21	enterprises	enterprise	NOUN
fbem-13189	89	22	to	to	PART
fbem-13189	89	23	invest	invest	VERB
fbem-13189	89	24	abroad	abroad	ADV
fbem-13189	89	25	to	to	PART
fbem-13189	89	26	promote	promote	VERB
fbem-13189	89	27	china	china	PROPN
fbem-13189	89	28	's	's	PART
fbem-13189	89	29	industrial	industrial	ADJ
fbem-13189	89	30	structure	structure	NOUN
fbem-13189	89	31	upgrade[8	upgrade[8	NOUN
fbem-13189	89	32	]	]	PUNCT
fbem-13189	89	33	.	.	PUNCT
fbem-13189	90	1	meanwhile	meanwhile	ADV
fbem-13189	90	2	,	,	PUNCT
fbem-13189	90	3	an	an	DET
fbem-13189	90	4	expansionary	expansionary	ADJ
fbem-13189	90	5	fiscal	fiscal	ADJ
fbem-13189	90	6	policy	policy	NOUN
fbem-13189	90	7	can	can	AUX
fbem-13189	90	8	be	be	AUX
fbem-13189	90	9	adopted	adopt	VERB
fbem-13189	90	10	to	to	PART
fbem-13189	90	11	stimulate	stimulate	VERB
fbem-13189	90	12	domestic	domestic	ADJ
fbem-13189	90	13	consumption	consumption	NOUN
fbem-13189	90	14	demand	demand	NOUN
fbem-13189	90	15	and	and	CCONJ
fbem-13189	90	16	regulate	regulate	VERB
fbem-13189	90	17	the	the	DET
fbem-13189	90	18	degree	degree	NOUN
fbem-13189	90	19	of	of	ADP
fbem-13189	90	20	foreign	foreign	ADJ
fbem-13189	90	21	trade	trade	NOUN
fbem-13189	90	22	dependence	dependence	NOUN
fbem-13189	90	23	to	to	ADP
fbem-13189	90	24	an	an	DET
fbem-13189	90	25	appropriate	appropriate	ADJ
fbem-13189	90	26	level	level	NOUN
fbem-13189	90	27	,	,	PUNCT
fbem-13189	90	28	so	so	SCONJ
fbem-13189	90	29	as	as	SCONJ
fbem-13189	90	30	to	to	PART
fbem-13189	90	31	maintain	maintain	VERB
fbem-13189	90	32	a	a	DET
fbem-13189	90	33	stable	stable	ADJ
fbem-13189	90	34	relationship	relationship	NOUN
fbem-13189	90	35	between	between	ADP
fbem-13189	90	36	domestic	domestic	ADJ
fbem-13189	90	37	economic	economic	ADJ
fbem-13189	90	38	development	development	NOUN
fbem-13189	90	39	and	and	CCONJ
fbem-13189	90	40	the	the	DET
fbem-13189	90	41	balance	balance	NOUN
fbem-13189	90	42	of	of	ADP
fbem-13189	90	43	payments	payment	NOUN
fbem-13189	90	44	.	.	PUNCT
fbem-13189	91	1	references	reference	NOUN
fbem-13189	91	2	[	[	X
fbem-13189	91	3	1	1	NUM
fbem-13189	91	4	]	]	X
fbem-13189	91	5	wang	wang	PROPN
fbem-13189	91	6	,	,	PUNCT
fbem-13189	91	7	x.	x.	PROPN
fbem-13189	91	8	f.	f.	PROPN
fbem-13189	91	9	&	&	CCONJ
fbem-13189	91	10	lu	lu	PROPN
fbem-13189	91	11	,	,	PUNCT
fbem-13189	91	12	t.	t.	NOUN
fbem-13189	91	13	tech	tech	NOUN
fbem-13189	91	14	.	.	PUNCT
fbem-13189	92	1	(	(	PUNCT
fbem-13189	92	2	2023	2023	NUM
fbem-13189	92	3	)	)	PUNCT
fbem-13189	92	4	.	.	PUNCT
fbem-13189	93	1	reform	reform	NOUN
fbem-13189	93	2	of	of	ADP
fbem-13189	93	3	the	the	DET
fbem-13189	93	4	international	international	ADJ
fbem-13189	93	5	monetary	monetary	ADJ
fbem-13189	93	6	system	system	NOUN
fbem-13189	93	7	and	and	CCONJ
fbem-13189	93	8	the	the	DET
fbem-13189	93	9	internationalisation	internationalisation	NOUN
fbem-13189	93	10	of	of	ADP
fbem-13189	93	11	the	the	DET
fbem-13189	93	12	rmb	rmb	NOUN
fbem-13189	93	13	.	.	PUNCT
fbem-13189	94	1	the	the	DET
fbem-13189	94	2	economist	economist	NOUN
fbem-13189	94	3	,	,	PUNCT
fbem-13189	94	4	02	02	NUM
fbem-13189	94	5	:	:	PUNCT
fbem-13189	94	6	45	45	NUM
fbem-13189	94	7	-	-	SYM
fbem-13189	94	8	55	55	NUM
fbem-13189	94	9	.	.	PUNCT
fbem-13189	95	1	[	[	X
fbem-13189	95	2	2	2	NUM
fbem-13189	95	3	]	]	X
fbem-13189	95	4	wei	wei	PROPN
fbem-13189	95	5	,	,	PUNCT
fbem-13189	95	6	dong	dong	PROPN
fbem-13189	95	7	.	.	PUNCT
fbem-13189	95	8	(	(	PUNCT
fbem-13189	95	9	2017	2017	NUM
fbem-13189	95	10	)	)	PUNCT
fbem-13189	95	11	.	.	PUNCT
fbem-13189	96	1	analysis	analysis	NOUN
fbem-13189	96	2	of	of	ADP
fbem-13189	96	3	the	the	DET
fbem-13189	96	4	influencing	influence	VERB
fbem-13189	96	5	factors	factor	NOUN
fbem-13189	96	6	of	of	ADP
fbem-13189	96	7	rmb	rmb	NOUN
fbem-13189	96	8	exchange	exchange	NOUN
fbem-13189	96	9	rate	rate	NOUN
fbem-13189	96	10	volatility	volatility	NOUN
fbem-13189	96	11	.	.	PUNCT
fbem-13189	97	1	financial	financial	ADJ
fbem-13189	97	2	education	education	NOUN
fbem-13189	97	3	research	research	NOUN
fbem-13189	97	4	,	,	PUNCT
fbem-13189	97	5	04	04	NUM
fbem-13189	97	6	:	:	PUNCT
fbem-13189	97	7	3842	3842	NUM
fbem-13189	97	8	+	+	NOUN
fbem-13189	97	9	84	84	NUM
fbem-13189	97	10	.	.	PUNCT
fbem-13189	98	1	[	[	X
fbem-13189	98	2	3	3	NUM
fbem-13189	98	3	]	]	X
fbem-13189	98	4	fang	fang	X
fbem-13189	98	5	,	,	PUNCT
fbem-13189	98	6	x.	x.	NOUN
fbem-13189	98	7	,	,	PUNCT
fbem-13189	98	8	hu	hu	PROPN
fbem-13189	98	9	,	,	PUNCT
fbem-13189	98	10	x.c	x.c	PROPN
fbem-13189	98	11	.	.	PROPN
fbem-13189	98	12	&	&	CCONJ
fbem-13189	98	13	ma	ma	PROPN
fbem-13189	98	14	,	,	PUNCT
fbem-13189	98	15	c.w	c.w	PROPN
fbem-13189	98	16	..	..	PROPN
fbem-13189	98	17	(	(	PUNCT
fbem-13189	98	18	2019	2019	NUM
fbem-13189	98	19	)	)	PUNCT
fbem-13189	98	20	.	.	PUNCT
fbem-13189	99	1	influence	influence	NOUN
fbem-13189	99	2	factors	factor	NOUN
fbem-13189	99	3	of	of	ADP
fbem-13189	99	4	rmb	rmb	NOUN
fbem-13189	99	5	exchange	exchange	NOUN
fbem-13189	99	6	rate	rate	NOUN
fbem-13189	99	7	volatility	volatility	NOUN
fbem-13189	99	8	under	under	ADP
fbem-13189	99	9	rmb	rmb	NOUN
fbem-13189	99	10	internationalisation	internationalisation	NOUN
fbem-13189	99	11	.	.	PUNCT
fbem-13189	100	1	journal	journal	PROPN
fbem-13189	100	2	of	of	ADP
fbem-13189	100	3	chifeng	chifeng	PROPN
fbem-13189	100	4	college	college	PROPN
fbem-13189	100	5	(	(	PUNCT
fbem-13189	100	6	natural	natural	ADJ
fbem-13189	100	7	science	science	NOUN
fbem-13189	100	8	edition	edition	NOUN
fbem-13189	100	9	)	)	PUNCT
fbem-13189	100	10	,	,	PUNCT
fbem-13189	100	11	07	07	NUM
fbem-13189	100	12	:	:	SYM
fbem-13189	100	13	4447	4447	NUM
fbem-13189	100	14	.	.	PUNCT
fbem-13189	101	1	[	[	X
fbem-13189	101	2	4	4	NUM
fbem-13189	101	3	]	]	X
fbem-13189	101	4	guan	guan	PROPN
fbem-13189	101	5	,	,	PUNCT
fbem-13189	101	6	t.	t.	PROPN
fbem-13189	101	7	&	&	CCONJ
fbem-13189	101	8	yin	yin	PROPN
fbem-13189	101	9	,	,	PUNCT
fbem-13189	101	10	gaofeng	gaofeng	NOUN
fbem-13189	101	11	.	.	PUNCT
fbem-13189	102	1	(	(	PUNCT
fbem-13189	102	2	2022	2022	NUM
fbem-13189	102	3	)	)	PUNCT
fbem-13189	102	4	.	.	PUNCT
fbem-13189	103	1	renminbi	renminbi	NOUN
fbem-13189	103	2	internationalisation	internationalisation	NOUN
fbem-13189	103	3	in	in	ADP
fbem-13189	103	4	line	line	NOUN
fbem-13189	103	5	with	with	ADP
fbem-13189	103	6	the	the	DET
fbem-13189	103	7	trend	trend	NOUN
fbem-13189	103	8	:	:	PUNCT
fbem-13189	103	9	progress	progress	NOUN
fbem-13189	103	10	,	,	PUNCT
fbem-13189	103	11	motivation	motivation	NOUN
fbem-13189	103	12	and	and	CCONJ
fbem-13189	103	13	outlook	outlook	NOUN
fbem-13189	103	14	.	.	PUNCT
fbem-13189	104	1	the	the	DET
fbem-13189	104	2	banker	banker	NOUN
fbem-13189	104	3	,	,	PUNCT
fbem-13189	104	4	08	08	NUM
fbem-13189	104	5	:	:	PUNCT
fbem-13189	104	6	11	11	NUM
fbem-13189	104	7	-	-	SYM
fbem-13189	104	8	14	14	NUM
fbem-13189	104	9	.	.	PUNCT
fbem-13189	105	1	[	[	X
fbem-13189	105	2	5	5	X
fbem-13189	105	3	]	]	PUNCT
fbem-13189	105	4	cao	cao	PROPN
fbem-13189	105	5	qiuju	qiuju	PROPN
fbem-13189	105	6	.	.	PUNCT
fbem-13189	106	1	(	(	PUNCT
fbem-13189	106	2	2018	2018	NUM
fbem-13189	106	3	)	)	PUNCT
fbem-13189	106	4	.	.	PUNCT
fbem-13189	107	1	empirical	empirical	ADJ
fbem-13189	107	2	test	test	NOUN
fbem-13189	107	3	of	of	ADP
fbem-13189	107	4	the	the	DET
fbem-13189	107	5	influence	influence	NOUN
fbem-13189	107	6	factors	factor	NOUN
fbem-13189	107	7	of	of	ADP
fbem-13189	107	8	rmb	rmb	NOUN
fbem-13189	107	9	exchange	exchange	NOUN
fbem-13189	107	10	rate	rate	NOUN
fbem-13189	107	11	volatility	volatility	NOUN
fbem-13189	107	12	under	under	ADP
fbem-13189	107	13	the	the	DET
fbem-13189	107	14	new	new	ADJ
fbem-13189	107	15	situation	situation	NOUN
fbem-13189	107	16	.	.	PUNCT
fbem-13189	108	1	journal	journal	PROPN
fbem-13189	108	2	of	of	ADP
fbem-13189	108	3	yunnan	yunnan	PROPN
fbem-13189	108	4	university	university	PROPN
fbem-13189	108	5	of	of	ADP
fbem-13189	108	6	finance	finance	NOUN
fbem-13189	108	7	and	and	CCONJ
fbem-13189	108	8	economics	economic	NOUN
fbem-13189	108	9	,	,	PUNCT
fbem-13189	108	10	12	12	NUM
fbem-13189	108	11	:	:	SYM
fbem-13189	108	12	48	48	NUM
fbem-13189	108	13	-	-	SYM
fbem-13189	108	14	57	57	NUM
fbem-13189	108	15	.	.	PUNCT
fbem-13189	109	1	[	[	X
fbem-13189	109	2	6	6	NUM
fbem-13189	109	3	]	]	X
fbem-13189	109	4	fei	fei	NOUN
fbem-13189	109	5	,	,	PUNCT
fbem-13189	109	6	guangping	guangpe	VERB
fbem-13189	109	7	.	.	PUNCT
fbem-13189	110	1	(	(	PUNCT
fbem-13189	110	2	2018	2018	NUM
fbem-13189	110	3	)	)	PUNCT
fbem-13189	110	4	.	.	PUNCT
fbem-13189	111	1	research	research	NOUN
fbem-13189	111	2	on	on	ADP
fbem-13189	111	3	rmb	rmb	PROPN
fbem-13189	111	4	exchange	exchange	NOUN
fbem-13189	111	5	rate	rate	NOUN
fbem-13189	111	6	expectation	expectation	NOUN
fbem-13189	111	7	metrics	metric	NOUN
fbem-13189	111	8	and	and	CCONJ
fbem-13189	111	9	influencing	influence	VERB
fbem-13189	111	10	factors	factor	NOUN
fbem-13189	111	11	.	.	PUNCT
fbem-13189	112	1	southern	southern	ADJ
fbem-13189	112	2	finance	finance	NOUN
fbem-13189	112	3	,	,	PUNCT
fbem-13189	112	4	01	01	NUM
fbem-13189	112	5	:	:	PUNCT
fbem-13189	112	6	32	32	NUM
fbem-13189	112	7	-	-	SYM
fbem-13189	112	8	41	41	NUM
fbem-13189	112	9	.	.	PUNCT
fbem-13189	113	1	[	[	X
fbem-13189	113	2	7	7	X
fbem-13189	113	3	]	]	X
fbem-13189	113	4	liao	liao	PROPN
fbem-13189	113	5	zizhen	zizhen	PROPN
fbem-13189	113	6	.	.	PUNCT
fbem-13189	114	1	(	(	PUNCT
fbem-13189	114	2	2018	2018	NUM
fbem-13189	114	3	)	)	PUNCT
fbem-13189	114	4	empirical	empirical	ADJ
fbem-13189	114	5	analysis	analysis	NOUN
fbem-13189	114	6	of	of	ADP
fbem-13189	114	7	the	the	DET
fbem-13189	114	8	influence	influence	NOUN
fbem-13189	114	9	factors	factor	NOUN
fbem-13189	114	10	of	of	ADP
fbem-13189	114	11	rmb	rmb	NOUN
fbem-13189	114	12	exchange	exchange	NOUN
fbem-13189	114	13	rate	rate	NOUN
fbem-13189	114	14	changes	change	NOUN
fbem-13189	114	15	.	.	PUNCT
fbem-13189	115	1	times	times	PROPN
fbem-13189	115	2	finance	finance	NOUN
fbem-13189	115	3	,	,	PUNCT
fbem-13189	115	4	12:7	12:7	NUM
fbem-13189	115	5	-	-	SYM
fbem-13189	115	6	8	8	NUM
fbem-13189	115	7	+	+	NOUN
fbem-13189	115	8	12	12	NUM
fbem-13189	115	9	.	.	PUNCT
fbem-13189	116	1	[	[	X
fbem-13189	116	2	8	8	NUM
fbem-13189	116	3	]	]	X
fbem-13189	116	4	yang	yang	PROPN
fbem-13189	116	5	x	x	PROPN
fbem-13189	116	6	&	&	CCONJ
fbem-13189	116	7	ma	ma	PROPN
fbem-13189	116	8	y.	y.	PROPN
fbem-13189	116	9	(	(	PUNCT
fbem-13189	116	10	2022	2022	NUM
fbem-13189	116	11	)	)	PUNCT
fbem-13189	116	12	.	.	PUNCT
fbem-13189	117	1	the	the	DET
fbem-13189	117	2	impact	impact	NOUN
fbem-13189	117	3	of	of	ADP
fbem-13189	117	4	rmb	rmb	PROPN
fbem-13189	117	5	exchange	exchange	NOUN
fbem-13189	117	6	rate	rate	NOUN
fbem-13189	117	7	changes	change	NOUN
fbem-13189	117	8	on	on	ADP
fbem-13189	117	9	china	china	PROPN
fbem-13189	117	10	's	's	PART
fbem-13189	117	11	balance	balance	NOUN
fbem-13189	117	12	of	of	ADP
fbem-13189	117	13	payments	payment	NOUN
fbem-13189	117	14	.	.	PUNCT
fbem-13189	118	1	modern	modern	ADJ
fbem-13189	118	2	business	business	NOUN
fbem-13189	118	3	,	,	PUNCT
fbem-13189	118	4	13	13	NUM
fbem-13189	118	5	:	:	SYM
fbem-13189	118	6	67	67	NUM
fbem-13189	118	7	-	-	SYM
fbem-13189	118	8	69	69	NUM
fbem-13189	118	9	.	.	PUNCT