id	sid	tid	token	lemma	pos
fbem-14610	1	1	frontiers	frontier	NOUN
fbem-14610	1	2	in	in	ADP
fbem-14610	1	3	business	business	NOUN
fbem-14610	1	4	,	,	PUNCT
fbem-14610	1	5	economics	economic	NOUN
fbem-14610	1	6	and	and	CCONJ
fbem-14610	1	7	management	management	NOUN
fbem-14610	1	8	issn	issn	PROPN
fbem-14610	1	9	:	:	PUNCT
fbem-14610	1	10	2766	2766	NUM
fbem-14610	1	11	-	-	PUNCT
fbem-14610	1	12	824x	824x	NUM
fbem-14610	1	13	|	|	ADJ
fbem-14610	1	14	vol	vol	NOUN
fbem-14610	1	15	.	.	PROPN
fbem-14610	2	1	12	12	NUM
fbem-14610	2	2	,	,	PUNCT
fbem-14610	2	3	no	no	INTJ
fbem-14610	2	4	.	.	NOUN
fbem-14610	2	5	2	2	NUM
fbem-14610	2	6	,	,	PUNCT
fbem-14610	2	7	2023	2023	NUM
fbem-14610	2	8	86	86	NUM
fbem-14610	2	9	covid‐19	covid‐19	PROPN
fbem-14610	2	10	pandemic	pandemic	ADJ
fbem-14610	2	11	and	and	CCONJ
fbem-14610	2	12	stock	stock	NOUN
fbem-14610	2	13	market	market	NOUN
fbem-14610	2	14	contagion	contagion	NOUN
fbem-14610	2	15	between	between	ADP
fbem-14610	2	16	the	the	DET
fbem-14610	2	17	chinese	chinese	ADJ
fbem-14610	2	18	mainland	mainland	NOUN
fbem-14610	2	19	and	and	CCONJ
fbem-14610	2	20	hong	hong	PROPN
fbem-14610	2	21	kong	kong	PROPN
fbem-14610	2	22	wen	wen	PROPN
fbem-14610	2	23	luo1	luo1	PROPN
fbem-14610	2	24	,	,	PUNCT
fbem-14610	2	25	xianghan	xianghan	PROPN
fbem-14610	2	26	cao1	cao1	PROPN
fbem-14610	2	27	,	,	PUNCT
fbem-14610	2	28	*	*	PUNCT
fbem-14610	3	1	1school	1school	NUM
fbem-14610	3	2	of	of	ADP
fbem-14610	3	3	business	business	NOUN
fbem-14610	3	4	,	,	PUNCT
fbem-14610	3	5	xianda	xianda	PROPN
fbem-14610	3	6	college	college	PROPN
fbem-14610	3	7	of	of	ADP
fbem-14610	3	8	economics	economics	PROPN
fbem-14610	3	9	&	&	CCONJ
fbem-14610	3	10	humanities	humanities	PROPN
fbem-14610	3	11	shanghai	shanghai	PROPN
fbem-14610	3	12	international	international	PROPN
fbem-14610	3	13	studies	studies	PROPN
fbem-14610	3	14	university	university	PROPN
fbem-14610	3	15	,	,	PUNCT
fbem-14610	3	16	shanghai	shanghai	PROPN
fbem-14610	3	17	,	,	PUNCT
fbem-14610	3	18	china	china	PROPN
fbem-14610	3	19	*	*	PUNCT
fbem-14610	3	20	corresponding	correspond	VERB
fbem-14610	3	21	author	author	NOUN
fbem-14610	3	22	.	.	PUNCT
fbem-14610	4	1	e	e	X
fbem-14610	4	2	-	-	NOUN
fbem-14610	4	3	mail	mail	NOUN
fbem-14610	4	4	address	address	NOUN
fbem-14610	4	5	:	:	PUNCT
fbem-14610	4	6	2111003@xdsisu.edu.cn	2111003@xdsisu.edu.cn	NUM
fbem-14610	4	7	(	(	PUNCT
fbem-14610	4	8	x.	x.	NOUN
fbem-14610	4	9	cao	cao	NOUN
fbem-14610	4	10	)	)	PUNCT
fbem-14610	4	11	abstract	abstract	NOUN
fbem-14610	4	12	:	:	PUNCT
fbem-14610	4	13	this	this	DET
fbem-14610	4	14	study	study	NOUN
fbem-14610	4	15	utilizes	utilize	VERB
fbem-14610	4	16	stock	stock	NOUN
fbem-14610	4	17	market	market	NOUN
fbem-14610	4	18	data	datum	NOUN
fbem-14610	4	19	from	from	ADP
fbem-14610	4	20	march	march	PROPN
fbem-14610	4	21	2020	2020	NUM
fbem-14610	4	22	to	to	ADP
fbem-14610	4	23	december	december	PROPN
fbem-14610	4	24	2022	2022	NUM
fbem-14610	4	25	,	,	PUNCT
fbem-14610	4	26	employing	employ	VERB
fbem-14610	4	27	var	var	NOUN
fbem-14610	4	28	models	model	NOUN
fbem-14610	4	29	and	and	CCONJ
fbem-14610	4	30	granger	granger	NOUN
fbem-14610	4	31	causality	causality	NOUN
fbem-14610	4	32	models	model	NOUN
fbem-14610	4	33	to	to	PART
fbem-14610	4	34	investigate	investigate	VERB
fbem-14610	4	35	the	the	DET
fbem-14610	4	36	daily	daily	ADJ
fbem-14610	4	37	returns	return	NOUN
fbem-14610	4	38	and	and	CCONJ
fbem-14610	4	39	contagion	contagion	NOUN
fbem-14610	4	40	effect	effect	NOUN
fbem-14610	4	41	of	of	ADP
fbem-14610	4	42	the	the	DET
fbem-14610	4	43	csi	csi	ADJ
fbem-14610	4	44	300	300	NUM
fbem-14610	4	45	and	and	CCONJ
fbem-14610	4	46	the	the	DET
fbem-14610	4	47	hsi	hsi	PROPN
fbem-14610	4	48	in	in	ADP
fbem-14610	4	49	hong	hong	PROPN
fbem-14610	4	50	kong	kong	PROPN
fbem-14610	4	51	.	.	PUNCT
fbem-14610	5	1	based	base	VERB
fbem-14610	5	2	on	on	ADP
fbem-14610	5	3	this	this	PRON
fbem-14610	5	4	,	,	PUNCT
fbem-14610	5	5	the	the	DET
fbem-14610	5	6	analysis	analysis	NOUN
fbem-14610	5	7	explores	explore	VERB
fbem-14610	5	8	the	the	DET
fbem-14610	5	9	impact	impact	NOUN
fbem-14610	5	10	of	of	ADP
fbem-14610	5	11	the	the	DET
fbem-14610	5	12	pandemic	pandemic	NOUN
fbem-14610	5	13	on	on	ADP
fbem-14610	5	14	the	the	DET
fbem-14610	5	15	contagion	contagion	NOUN
fbem-14610	5	16	effect	effect	NOUN
fbem-14610	5	17	between	between	ADP
fbem-14610	5	18	the	the	DET
fbem-14610	5	19	mainland	mainland	NOUN
fbem-14610	5	20	chinese	chinese	PROPN
fbem-14610	5	21	and	and	CCONJ
fbem-14610	5	22	hong	hong	PROPN
fbem-14610	5	23	kong	kong	PROPN
fbem-14610	5	24	stock	stock	NOUN
fbem-14610	5	25	markets	market	NOUN
fbem-14610	5	26	.	.	PUNCT
fbem-14610	6	1	the	the	DET
fbem-14610	6	2	research	research	NOUN
fbem-14610	6	3	findings	finding	NOUN
fbem-14610	6	4	indicate	indicate	VERB
fbem-14610	6	5	that	that	SCONJ
fbem-14610	6	6	during	during	ADP
fbem-14610	6	7	the	the	DET
fbem-14610	6	8	pandemic	pandemic	ADJ
fbem-14610	6	9	period	period	NOUN
fbem-14610	6	10	,	,	PUNCT
fbem-14610	6	11	there	there	PRON
fbem-14610	6	12	exists	exist	VERB
fbem-14610	6	13	a	a	DET
fbem-14610	6	14	unidirectional	unidirectional	ADJ
fbem-14610	6	15	granger	granger	PROPN
fbem-14610	6	16	causality	causality	NOUN
fbem-14610	6	17	relationship	relationship	NOUN
fbem-14610	6	18	from	from	ADP
fbem-14610	6	19	the	the	DET
fbem-14610	6	20	hong	hong	PROPN
fbem-14610	6	21	kong	kong	PROPN
fbem-14610	6	22	stock	stock	NOUN
fbem-14610	6	23	market	market	NOUN
fbem-14610	6	24	to	to	ADP
fbem-14610	6	25	the	the	DET
fbem-14610	6	26	mainland	mainland	NOUN
fbem-14610	6	27	chinese	chinese	ADJ
fbem-14610	6	28	stock	stock	NOUN
fbem-14610	6	29	market	market	NOUN
fbem-14610	6	30	.	.	PUNCT
fbem-14610	7	1	the	the	DET
fbem-14610	7	2	pandemic	pandemic	NOUN
fbem-14610	7	3	has	have	AUX
fbem-14610	7	4	intensified	intensify	VERB
fbem-14610	7	5	the	the	DET
fbem-14610	7	6	connection	connection	NOUN
fbem-14610	7	7	between	between	ADP
fbem-14610	7	8	mainland	mainland	NOUN
fbem-14610	7	9	china	china	PROPN
fbem-14610	7	10	and	and	CCONJ
fbem-14610	7	11	hong	hong	PROPN
fbem-14610	7	12	kong	kong	PROPN
fbem-14610	7	13	,	,	PUNCT
fbem-14610	7	14	significantly	significantly	ADV
fbem-14610	7	15	increasing	increase	VERB
fbem-14610	7	16	their	their	PRON
fbem-14610	7	17	mutual	mutual	ADJ
fbem-14610	7	18	influence	influence	NOUN
fbem-14610	7	19	.	.	PUNCT
fbem-14610	8	1	the	the	DET
fbem-14610	8	2	overall	overall	ADJ
fbem-14610	8	3	trends	trend	NOUN
fbem-14610	8	4	of	of	ADP
fbem-14610	8	5	the	the	DET
fbem-14610	8	6	two	two	NUM
fbem-14610	8	7	stock	stock	NOUN
fbem-14610	8	8	markets	market	NOUN
fbem-14610	8	9	are	be	AUX
fbem-14610	8	10	consistent	consistent	ADJ
fbem-14610	8	11	,	,	PUNCT
fbem-14610	8	12	with	with	ADP
fbem-14610	8	13	the	the	DET
fbem-14610	8	14	mainland	mainland	NOUN
fbem-14610	8	15	chinese	chinese	ADJ
fbem-14610	8	16	market	market	NOUN
fbem-14610	8	17	exhibiting	exhibit	VERB
fbem-14610	8	18	smoother	smooth	ADJ
fbem-14610	8	19	fluctuations	fluctuation	NOUN
fbem-14610	8	20	during	during	ADP
fbem-14610	8	21	this	this	DET
fbem-14610	8	22	period	period	NOUN
fbem-14610	8	23	.	.	PUNCT
fbem-14610	9	1	keywords	keyword	NOUN
fbem-14610	9	2	:	:	PUNCT
fbem-14610	9	3	covid-19	covid-19	PROPN
fbem-14610	9	4	pandemic	pandemic	NOUN
fbem-14610	9	5	;	;	PUNCT
fbem-14610	9	6	contagion	contagion	NOUN
fbem-14610	9	7	effect	effect	NOUN
fbem-14610	9	8	;	;	PUNCT
fbem-14610	9	9	granger	granger	PROPN
fbem-14610	9	10	causality	causality	PROPN
fbem-14610	9	11	model	model	NOUN
fbem-14610	9	12	;	;	PUNCT
fbem-14610	9	13	stock	stock	NOUN
fbem-14610	9	14	market	market	NOUN
fbem-14610	9	15	.	.	PUNCT
fbem-14610	10	1	1	1	X
fbem-14610	10	2	.	.	X
fbem-14610	10	3	introduction	introduction	NOUN
fbem-14610	10	4	at	at	ADP
fbem-14610	10	5	the	the	DET
fbem-14610	10	6	end	end	NOUN
fbem-14610	10	7	of	of	ADP
fbem-14610	10	8	2019	2019	NUM
fbem-14610	10	9	,	,	PUNCT
fbem-14610	10	10	the	the	DET
fbem-14610	10	11	outbreak	outbreak	NOUN
fbem-14610	10	12	of	of	ADP
fbem-14610	10	13	the	the	DET
fbem-14610	10	14	novel	novel	ADJ
fbem-14610	10	15	coronavirus	coronavirus	NOUN
fbem-14610	10	16	brought	bring	VERB
fbem-14610	10	17	serious	serious	ADJ
fbem-14610	10	18	health	health	NOUN
fbem-14610	10	19	challenges	challenge	NOUN
fbem-14610	10	20	to	to	ADP
fbem-14610	10	21	residents	resident	NOUN
fbem-14610	10	22	across	across	ADP
fbem-14610	10	23	china	china	PROPN
fbem-14610	10	24	and	and	CCONJ
fbem-14610	10	25	posed	pose	VERB
fbem-14610	10	26	significant	significant	ADJ
fbem-14610	10	27	challenges	challenge	NOUN
fbem-14610	10	28	to	to	ADP
fbem-14610	10	29	the	the	DET
fbem-14610	10	30	global	global	ADJ
fbem-14610	10	31	financial	financial	ADJ
fbem-14610	10	32	markets	market	NOUN
fbem-14610	10	33	.	.	PUNCT
fbem-14610	11	1	as	as	ADP
fbem-14610	11	2	a	a	DET
fbem-14610	11	3	crucial	crucial	ADJ
fbem-14610	11	4	indicator	indicator	NOUN
fbem-14610	11	5	of	of	ADP
fbem-14610	11	6	a	a	DET
fbem-14610	11	7	nation	nation	NOUN
fbem-14610	11	8	's	's	PART
fbem-14610	11	9	economy	economy	NOUN
fbem-14610	11	10	,	,	PUNCT
fbem-14610	11	11	the	the	DET
fbem-14610	11	12	development	development	NOUN
fbem-14610	11	13	and	and	CCONJ
fbem-14610	11	14	operation	operation	NOUN
fbem-14610	11	15	of	of	ADP
fbem-14610	11	16	the	the	DET
fbem-14610	11	17	stock	stock	NOUN
fbem-14610	11	18	market	market	NOUN
fbem-14610	11	19	reflect	reflect	VERB
fbem-14610	11	20	the	the	DET
fbem-14610	11	21	country	country	NOUN
fbem-14610	11	22	's	's	PART
fbem-14610	11	23	economic	economic	ADJ
fbem-14610	11	24	trends	trend	NOUN
fbem-14610	11	25	.	.	PUNCT
fbem-14610	12	1	therefore	therefore	ADV
fbem-14610	12	2	,	,	PUNCT
fbem-14610	12	3	a	a	DET
fbem-14610	12	4	thorough	thorough	ADJ
fbem-14610	12	5	analysis	analysis	NOUN
fbem-14610	12	6	and	and	CCONJ
fbem-14610	12	7	exploration	exploration	NOUN
fbem-14610	12	8	of	of	ADP
fbem-14610	12	9	the	the	DET
fbem-14610	12	10	interconnection	interconnection	NOUN
fbem-14610	12	11	between	between	ADP
fbem-14610	12	12	stock	stock	NOUN
fbem-14610	12	13	markets	market	NOUN
fbem-14610	12	14	will	will	AUX
fbem-14610	12	15	provide	provide	VERB
fbem-14610	12	16	essential	essential	ADJ
fbem-14610	12	17	reference	reference	NOUN
fbem-14610	12	18	points	point	NOUN
fbem-14610	12	19	for	for	ADP
fbem-14610	12	20	the	the	DET
fbem-14610	12	21	government	government	NOUN
fbem-14610	12	22	and	and	CCONJ
fbem-14610	12	23	investors	investor	NOUN
fbem-14610	12	24	.	.	PUNCT
fbem-14610	13	1	in	in	ADP
fbem-14610	13	2	recent	recent	ADJ
fbem-14610	13	3	years	year	NOUN
fbem-14610	13	4	,	,	PUNCT
fbem-14610	13	5	with	with	ADP
fbem-14610	13	6	the	the	DET
fbem-14610	13	7	introduction	introduction	NOUN
fbem-14610	13	8	of	of	ADP
fbem-14610	13	9	policies	policy	NOUN
fbem-14610	13	10	such	such	ADJ
fbem-14610	13	11	as	as	ADP
fbem-14610	13	12	the	the	DET
fbem-14610	13	13	shanghai	shanghai	PROPN
fbem-14610	13	14	-	-	PUNCT
fbem-14610	13	15	hong	hong	PROPN
fbem-14610	13	16	kong	kong	PROPN
fbem-14610	13	17	stock	stock	PROPN
fbem-14610	13	18	connect	connect	NOUN
fbem-14610	13	19	and	and	CCONJ
fbem-14610	13	20	the	the	DET
fbem-14610	13	21	shenzhen	shenzhen	PROPN
fbem-14610	13	22	-	-	PUNCT
fbem-14610	13	23	hong	hong	PROPN
fbem-14610	13	24	kong	kong	PROPN
fbem-14610	13	25	stock	stock	PROPN
fbem-14610	13	26	connect	connect	PROPN
fbem-14610	13	27	,	,	PUNCT
fbem-14610	13	28	china	china	PROPN
fbem-14610	13	29	has	have	AUX
fbem-14610	13	30	actively	actively	ADV
fbem-14610	13	31	promoted	promote	VERB
fbem-14610	13	32	the	the	DET
fbem-14610	13	33	internationalization	internationalization	NOUN
fbem-14610	13	34	of	of	ADP
fbem-14610	13	35	its	its	PRON
fbem-14610	13	36	capital	capital	NOUN
fbem-14610	13	37	markets	market	NOUN
fbem-14610	13	38	,	,	PUNCT
fbem-14610	13	39	striving	strive	VERB
fbem-14610	13	40	to	to	PART
fbem-14610	13	41	eliminate	eliminate	VERB
fbem-14610	13	42	internal	internal	ADJ
fbem-14610	13	43	and	and	CCONJ
fbem-14610	13	44	external	external	ADJ
fbem-14610	13	45	barriers	barrier	NOUN
fbem-14610	13	46	,	,	PUNCT
fbem-14610	13	47	promote	promote	VERB
fbem-14610	13	48	integration	integration	NOUN
fbem-14610	13	49	,	,	PUNCT
fbem-14610	13	50	and	and	CCONJ
fbem-14610	13	51	advance	advance	VERB
fbem-14610	13	52	economic	economic	ADJ
fbem-14610	13	53	globalization	globalization	NOUN
fbem-14610	13	54	for	for	ADP
fbem-14610	13	55	sustainable	sustainable	ADJ
fbem-14610	13	56	development	development	NOUN
fbem-14610	13	57	.	.	PUNCT
fbem-14610	14	1	according	accord	VERB
fbem-14610	14	2	to	to	ADP
fbem-14610	14	3	granger	granger	PROPN
fbem-14610	14	4	's	's	PART
fbem-14610	14	5	causality	causality	NOUN
fbem-14610	14	6	analysis	analysis	NOUN
fbem-14610	14	7	,	,	PUNCT
fbem-14610	14	8	the	the	DET
fbem-14610	14	9	implementation	implementation	NOUN
fbem-14610	14	10	of	of	ADP
fbem-14610	14	11	the	the	DET
fbem-14610	14	12	shanghai	shanghai	PROPN
fbem-14610	14	13	-	-	PUNCT
fbem-14610	14	14	hong	hong	PROPN
fbem-14610	14	15	kong	kong	PROPN
fbem-14610	14	16	stock	stock	PROPN
fbem-14610	14	17	connect	connect	NOUN
fbem-14610	14	18	has	have	AUX
fbem-14610	14	19	intensified	intensify	VERB
fbem-14610	14	20	stock	stock	NOUN
fbem-14610	14	21	trading	trading	NOUN
fbem-14610	14	22	between	between	ADP
fbem-14610	14	23	the	the	DET
fbem-14610	14	24	two	two	NUM
fbem-14610	14	25	sides	side	NOUN
fbem-14610	14	26	and	and	CCONJ
fbem-14610	14	27	increased	increase	VERB
fbem-14610	14	28	the	the	DET
fbem-14610	14	29	frequency	frequency	NOUN
fbem-14610	14	30	of	of	ADP
fbem-14610	14	31	transactions	transaction	NOUN
fbem-14610	14	32	.	.	PUNCT
fbem-14610	15	1	this	this	DET
fbem-14610	15	2	development	development	NOUN
fbem-14610	15	3	has	have	AUX
fbem-14610	15	4	made	make	VERB
fbem-14610	15	5	the	the	DET
fbem-14610	15	6	connection	connection	NOUN
fbem-14610	15	7	between	between	ADP
fbem-14610	15	8	the	the	DET
fbem-14610	15	9	mainland	mainland	NOUN
fbem-14610	15	10	and	and	CCONJ
fbem-14610	15	11	hong	hong	PROPN
fbem-14610	15	12	kong	kong	PROPN
fbem-14610	15	13	markets	market	NOUN
fbem-14610	15	14	even	even	ADV
fbem-14610	15	15	closer	close	ADV
fbem-14610	15	16	.	.	PUNCT
fbem-14610	16	1	against	against	ADP
fbem-14610	16	2	this	this	PRON
fbem-14610	16	3	,	,	PUNCT
fbem-14610	16	4	backdrop	backdrop	NOUN
fbem-14610	16	5	of	of	ADP
fbem-14610	16	6	the	the	DET
fbem-14610	16	7	covid-19	covid-19	PROPN
fbem-14610	16	8	pandemic	pandemic	NOUN
fbem-14610	16	9	,	,	PUNCT
fbem-14610	16	10	this	this	DET
fbem-14610	16	11	paper	paper	NOUN
fbem-14610	16	12	conducts	conduct	VERB
fbem-14610	16	13	research	research	NOUN
fbem-14610	16	14	on	on	ADP
fbem-14610	16	15	the	the	DET
fbem-14610	16	16	contagion	contagion	NOUN
fbem-14610	16	17	effect	effect	NOUN
fbem-14610	16	18	between	between	ADP
fbem-14610	16	19	mainland	mainland	NOUN
fbem-14610	16	20	a	a	DET
fbem-14610	16	21	-	-	PUNCT
fbem-14610	16	22	share	share	NOUN
fbem-14610	16	23	market	market	NOUN
fbem-14610	16	24	and	and	CCONJ
fbem-14610	16	25	the	the	DET
fbem-14610	16	26	hong	hong	PROPN
fbem-14610	16	27	kong	kong	PROPN
fbem-14610	16	28	stock	stock	NOUN
fbem-14610	16	29	market	market	NOUN
fbem-14610	16	30	in	in	ADP
fbem-14610	16	31	china	china	PROPN
fbem-14610	16	32	.	.	PUNCT
fbem-14610	17	1	from	from	ADP
fbem-14610	17	2	an	an	DET
fbem-14610	17	3	academic	academic	ADJ
fbem-14610	17	4	perspective	perspective	NOUN
fbem-14610	17	5	,	,	PUNCT
fbem-14610	17	6	existing	exist	VERB
fbem-14610	17	7	research	research	NOUN
fbem-14610	17	8	on	on	ADP
fbem-14610	17	9	the	the	DET
fbem-14610	17	10	contagion	contagion	NOUN
fbem-14610	17	11	effect	effect	NOUN
fbem-14610	17	12	between	between	ADP
fbem-14610	17	13	china	china	PROPN
fbem-14610	17	14	's	's	PART
fbem-14610	17	15	mainland	mainland	NOUN
fbem-14610	17	16	a	a	DET
fbem-14610	17	17	-	-	PUNCT
fbem-14610	17	18	share	share	NOUN
fbem-14610	17	19	market	market	NOUN
fbem-14610	17	20	and	and	CCONJ
fbem-14610	17	21	the	the	DET
fbem-14610	17	22	hong	hong	PROPN
fbem-14610	17	23	kong	kong	PROPN
fbem-14610	17	24	stock	stock	NOUN
fbem-14610	17	25	market	market	NOUN
fbem-14610	17	26	is	be	AUX
fbem-14610	17	27	mostly	mostly	ADV
fbem-14610	17	28	concentrated	concentrate	VERB
fbem-14610	17	29	around	around	ADP
fbem-14610	17	30	the	the	DET
fbem-14610	17	31	year	year	NOUN
fbem-14610	17	32	2000	2000	NUM
fbem-14610	17	33	,	,	PUNCT
fbem-14610	17	34	the	the	DET
fbem-14610	17	35	periods	period	NOUN
fbem-14610	17	36	surrounding	surround	VERB
fbem-14610	17	37	the	the	DET
fbem-14610	17	38	opening	opening	NOUN
fbem-14610	17	39	of	of	ADP
fbem-14610	17	40	the	the	DET
fbem-14610	17	41	shanghai	shanghai	PROPN
fbem-14610	17	42	-	-	PUNCT
fbem-14610	17	43	hong	hong	PROPN
fbem-14610	17	44	kong	kong	PROPN
fbem-14610	17	45	stock	stock	PROPN
fbem-14610	17	46	connect	connect	NOUN
fbem-14610	17	47	and	and	CCONJ
fbem-14610	17	48	the	the	DET
fbem-14610	17	49	shenzhenhong	shenzhenhong	PROPN
fbem-14610	17	50	kong	kong	PROPN
fbem-14610	17	51	stock	stock	PROPN
fbem-14610	17	52	connect	connect	PROPN
fbem-14610	17	53	,	,	PUNCT
fbem-14610	17	54	as	as	ADV
fbem-14610	17	55	well	well	ADV
fbem-14610	17	56	as	as	ADP
fbem-14610	17	57	the	the	DET
fbem-14610	17	58	early	early	ADJ
fbem-14610	17	59	stages	stage	NOUN
fbem-14610	17	60	of	of	ADP
fbem-14610	17	61	the	the	DET
fbem-14610	17	62	pandemic	pandemic	ADJ
fbem-14610	17	63	.	.	PUNCT
fbem-14610	18	1	research	research	NOUN
fbem-14610	18	2	on	on	ADP
fbem-14610	18	3	the	the	DET
fbem-14610	18	4	contagion	contagion	NOUN
fbem-14610	18	5	under	under	ADP
fbem-14610	18	6	the	the	DET
fbem-14610	18	7	backdrop	backdrop	NOUN
fbem-14610	18	8	of	of	ADP
fbem-14610	18	9	the	the	DET
fbem-14610	18	10	covid-19	covid-19	PROPN
fbem-14610	18	11	pandemic	pandemic	NOUN
fbem-14610	18	12	has	have	AUX
fbem-14610	18	13	focused	focus	VERB
fbem-14610	18	14	on	on	ADP
fbem-14610	18	15	specific	specific	ADJ
fbem-14610	18	16	sectors	sector	NOUN
fbem-14610	18	17	within	within	ADP
fbem-14610	18	18	the	the	DET
fbem-14610	18	19	stock	stock	NOUN
fbem-14610	18	20	market	market	NOUN
fbem-14610	18	21	,	,	PUNCT
fbem-14610	18	22	as	as	ADV
fbem-14610	18	23	well	well	ADV
fbem-14610	18	24	as	as	ADP
fbem-14610	18	25	the	the	DET
fbem-14610	18	26	interconnectivity	interconnectivity	NOUN
fbem-14610	18	27	between	between	ADP
fbem-14610	18	28	stocks	stock	NOUN
fbem-14610	18	29	and	and	CCONJ
fbem-14610	18	30	bonds	bond	NOUN
fbem-14610	18	31	.	.	PUNCT
fbem-14610	19	1	the	the	DET
fbem-14610	19	2	overall	overall	ADJ
fbem-14610	19	3	impact	impact	NOUN
fbem-14610	19	4	of	of	ADP
fbem-14610	19	5	the	the	DET
fbem-14610	19	6	pandemic	pandemic	NOUN
fbem-14610	19	7	on	on	ADP
fbem-14610	19	8	the	the	DET
fbem-14610	19	9	contagion	contagion	NOUN
fbem-14610	19	10	between	between	ADP
fbem-14610	19	11	the	the	DET
fbem-14610	19	12	two	two	NUM
fbem-14610	19	13	markets	market	NOUN
fbem-14610	19	14	is	be	AUX
fbem-14610	19	15	still	still	ADV
fbem-14610	19	16	in	in	ADP
fbem-14610	19	17	a	a	DET
fbem-14610	19	18	relatively	relatively	ADV
fbem-14610	19	19	unexplored	unexplored	ADJ
fbem-14610	19	20	state	state	NOUN
fbem-14610	19	21	.	.	PUNCT
fbem-14610	20	1	this	this	DET
fbem-14610	20	2	paper	paper	NOUN
fbem-14610	20	3	chooses	choose	VERB
fbem-14610	20	4	to	to	PART
fbem-14610	20	5	analyze	analyze	VERB
fbem-14610	20	6	the	the	DET
fbem-14610	20	7	contagion	contagion	NOUN
fbem-14610	20	8	effect	effect	NOUN
fbem-14610	20	9	between	between	ADP
fbem-14610	20	10	the	the	DET
fbem-14610	20	11	mainland	mainland	NOUN
fbem-14610	20	12	a	a	DET
fbem-14610	20	13	-	-	PUNCT
fbem-14610	20	14	share	share	NOUN
fbem-14610	20	15	market	market	NOUN
fbem-14610	20	16	and	and	CCONJ
fbem-14610	20	17	the	the	DET
fbem-14610	20	18	hong	hong	PROPN
fbem-14610	20	19	kong	kong	PROPN
fbem-14610	20	20	stock	stock	NOUN
fbem-14610	20	21	market	market	NOUN
fbem-14610	20	22	throughout	throughout	ADP
fbem-14610	20	23	the	the	DET
fbem-14610	20	24	entire	entire	ADJ
fbem-14610	20	25	duration	duration	NOUN
fbem-14610	20	26	of	of	ADP
fbem-14610	20	27	the	the	DET
fbem-14610	20	28	pandemic	pandemic	NOUN
fbem-14610	20	29	,	,	PUNCT
fbem-14610	20	30	filling	fill	VERB
fbem-14610	20	31	this	this	DET
fbem-14610	20	32	gap	gap	NOUN
fbem-14610	20	33	,	,	PUNCT
fbem-14610	20	34	enriching	enrich	VERB
fbem-14610	20	35	the	the	DET
fbem-14610	20	36	research	research	NOUN
fbem-14610	20	37	content	content	NOUN
fbem-14610	20	38	,	,	PUNCT
fbem-14610	20	39	and	and	CCONJ
fbem-14610	20	40	enhancing	enhance	VERB
fbem-14610	20	41	the	the	DET
fbem-14610	20	42	research	research	NOUN
fbem-14610	20	43	framework	framework	NOUN
fbem-14610	20	44	.	.	PUNCT
fbem-14610	21	1	in	in	ADP
fbem-14610	21	2	terms	term	NOUN
fbem-14610	21	3	of	of	ADP
fbem-14610	21	4	practical	practical	ADJ
fbem-14610	21	5	significance	significance	NOUN
fbem-14610	21	6	,	,	PUNCT
fbem-14610	21	7	given	give	VERB
fbem-14610	21	8	the	the	DET
fbem-14610	21	9	current	current	ADJ
fbem-14610	21	10	situation	situation	NOUN
fbem-14610	21	11	,	,	PUNCT
fbem-14610	21	12	focus	focus	VERB
fbem-14610	21	13	on	on	ADP
fbem-14610	21	14	the	the	DET
fbem-14610	21	15	trends	trend	NOUN
fbem-14610	21	16	in	in	ADP
fbem-14610	21	17	the	the	DET
fbem-14610	21	18	contagion	contagion	NOUN
fbem-14610	21	19	effect	effect	NOUN
fbem-14610	21	20	between	between	ADP
fbem-14610	21	21	the	the	DET
fbem-14610	21	22	mainland	mainland	NOUN
fbem-14610	21	23	and	and	CCONJ
fbem-14610	21	24	hong	hong	PROPN
fbem-14610	21	25	kong	kong	PROPN
fbem-14610	21	26	can	can	AUX
fbem-14610	21	27	assist	assist	VERB
fbem-14610	21	28	enterprises	enterprise	NOUN
fbem-14610	21	29	in	in	ADP
fbem-14610	21	30	both	both	DET
fbem-14610	21	31	regions	region	NOUN
fbem-14610	21	32	in	in	ADP
fbem-14610	21	33	better	well	ADV
fbem-14610	21	34	seizing	seize	VERB
fbem-14610	21	35	international	international	ADJ
fbem-14610	21	36	opportunities	opportunity	NOUN
fbem-14610	21	37	,	,	PUNCT
fbem-14610	21	38	serving	serve	VERB
fbem-14610	21	39	the	the	DET
fbem-14610	21	40	national	national	ADJ
fbem-14610	21	41	economy	economy	NOUN
fbem-14610	21	42	and	and	CCONJ
fbem-14610	21	43	life	life	NOUN
fbem-14610	21	44	more	more	ADV
fbem-14610	21	45	effectively	effectively	ADV
fbem-14610	21	46	.	.	PUNCT
fbem-14610	22	1	simultaneously	simultaneously	ADV
fbem-14610	22	2	,	,	PUNCT
fbem-14610	22	3	it	it	PRON
fbem-14610	22	4	can	can	AUX
fbem-14610	22	5	alleviate	alleviate	VERB
fbem-14610	22	6	uncertainty	uncertainty	NOUN
fbem-14610	22	7	between	between	ADP
fbem-14610	22	8	the	the	DET
fbem-14610	22	9	mainland	mainland	NOUN
fbem-14610	22	10	and	and	CCONJ
fbem-14610	22	11	hong	hong	PROPN
fbem-14610	22	12	kong	kong	PROPN
fbem-14610	22	13	stock	stock	NOUN
fbem-14610	22	14	markets	market	NOUN
fbem-14610	22	15	,	,	PUNCT
fbem-14610	22	16	reducing	reduce	VERB
fbem-14610	22	17	the	the	DET
fbem-14610	22	18	impact	impact	NOUN
fbem-14610	22	19	on	on	ADP
fbem-14610	22	20	both	both	DET
fbem-14610	22	21	markets	market	NOUN
fbem-14610	22	22	and	and	CCONJ
fbem-14610	22	23	mitigating	mitigate	VERB
fbem-14610	22	24	the	the	DET
fbem-14610	22	25	negative	negative	ADJ
fbem-14610	22	26	effects	effect	NOUN
fbem-14610	22	27	brought	bring	VERB
fbem-14610	22	28	about	about	ADP
fbem-14610	22	29	by	by	ADP
fbem-14610	22	30	the	the	DET
fbem-14610	22	31	pandemic	pandemic	NOUN
fbem-14610	22	32	.	.	PUNCT
fbem-14610	23	1	this	this	DET
fbem-14610	23	2	paper	paper	NOUN
fbem-14610	23	3	employs	employ	VERB
fbem-14610	23	4	literature	literature	NOUN
fbem-14610	23	5	research	research	NOUN
fbem-14610	23	6	and	and	CCONJ
fbem-14610	23	7	quantitative	quantitative	ADJ
fbem-14610	23	8	analysis	analysis	NOUN
fbem-14610	23	9	methods	method	NOUN
fbem-14610	23	10	,	,	PUNCT
fbem-14610	23	11	utilizing	utilize	VERB
fbem-14610	23	12	adf	adf	PROPN
fbem-14610	23	13	(	(	PUNCT
fbem-14610	23	14	augmented	augment	VERB
fbem-14610	23	15	dickey	dickey	NOUN
fbem-14610	23	16	-	-	PUNCT
fbem-14610	23	17	fuller	full	ADJ
fbem-14610	23	18	)	)	PUNCT
fbem-14610	23	19	tests	test	NOUN
fbem-14610	23	20	,	,	PUNCT
fbem-14610	23	21	granger	granger	PROPN
fbem-14610	23	22	causality	causality	NOUN
fbem-14610	23	23	tests	test	NOUN
fbem-14610	23	24	,	,	PUNCT
fbem-14610	23	25	and	and	CCONJ
fbem-14610	23	26	var	var	NOUN
fbem-14610	23	27	(	(	PUNCT
fbem-14610	23	28	vector	vector	NOUN
fbem-14610	23	29	autoregression	autoregression	NOUN
fbem-14610	23	30	)	)	PUNCT
fbem-14610	23	31	models	model	NOUN
fbem-14610	23	32	to	to	PART
fbem-14610	23	33	analyze	analyze	VERB
fbem-14610	23	34	the	the	DET
fbem-14610	23	35	contagion	contagion	NOUN
fbem-14610	23	36	effect	effect	NOUN
fbem-14610	23	37	between	between	ADP
fbem-14610	23	38	china	china	PROPN
fbem-14610	23	39	's	's	PART
fbem-14610	23	40	mainland	mainland	NOUN
fbem-14610	23	41	a	a	DET
fbem-14610	23	42	-	-	PUNCT
fbem-14610	23	43	share	share	NOUN
fbem-14610	23	44	market	market	NOUN
fbem-14610	23	45	and	and	CCONJ
fbem-14610	23	46	the	the	DET
fbem-14610	23	47	hong	hong	PROPN
fbem-14610	23	48	kong	kong	PROPN
fbem-14610	23	49	stock	stock	NOUN
fbem-14610	23	50	market	market	NOUN
fbem-14610	23	51	.	.	PUNCT
fbem-14610	24	1	the	the	DET
fbem-14610	24	2	daily	daily	ADJ
fbem-14610	24	3	returns	return	NOUN
fbem-14610	24	4	of	of	ADP
fbem-14610	24	5	the	the	DET
fbem-14610	24	6	csi	csi	ADJ
fbem-14610	24	7	300	300	NUM
fbem-14610	24	8	in	in	ADP
fbem-14610	24	9	the	the	DET
fbem-14610	24	10	mainland	mainland	NOUN
fbem-14610	24	11	and	and	CCONJ
fbem-14610	24	12	the	the	DET
fbem-14610	24	13	hsi	hsi	PROPN
fbem-14610	24	14	in	in	ADP
fbem-14610	24	15	hong	hong	PROPN
fbem-14610	24	16	kong	kong	PROPN
fbem-14610	24	17	are	be	AUX
fbem-14610	24	18	selected	select	VERB
fbem-14610	24	19	as	as	ADP
fbem-14610	24	20	the	the	DET
fbem-14610	24	21	research	research	NOUN
fbem-14610	24	22	objects	object	VERB
fbem-14610	24	23	,	,	PUNCT
fbem-14610	24	24	studying	study	VERB
fbem-14610	24	25	the	the	DET
fbem-14610	24	26	daily	daily	ADJ
fbem-14610	24	27	returns	return	NOUN
fbem-14610	24	28	between	between	ADP
fbem-14610	24	29	the	the	DET
fbem-14610	24	30	two	two	NUM
fbem-14610	24	31	markets	market	NOUN
fbem-14610	24	32	from	from	ADP
fbem-14610	24	33	march	march	PROPN
fbem-14610	24	34	2	2	NUM
fbem-14610	24	35	,	,	PUNCT
fbem-14610	24	36	2020	2020	NUM
fbem-14610	24	37	,	,	PUNCT
fbem-14610	24	38	to	to	ADP
fbem-14610	24	39	december	december	PROPN
fbem-14610	24	40	30	30	NUM
fbem-14610	24	41	,	,	PUNCT
fbem-14610	24	42	2022	2022	NUM
fbem-14610	24	43	.	.	PUNCT
fbem-14610	25	1	the	the	DET
fbem-14610	25	2	research	research	NOUN
fbem-14610	25	3	findings	finding	NOUN
fbem-14610	25	4	indicate	indicate	VERB
fbem-14610	25	5	that	that	SCONJ
fbem-14610	25	6	,	,	PUNCT
fbem-14610	25	7	before	before	ADP
fbem-14610	25	8	the	the	DET
fbem-14610	25	9	pandemic	pandemic	NOUN
fbem-14610	25	10	from	from	ADP
fbem-14610	25	11	2010	2010	NUM
fbem-14610	25	12	to	to	ADP
fbem-14610	25	13	january	january	PROPN
fbem-14610	25	14	2020	2020	NUM
fbem-14610	25	15	,	,	PUNCT
fbem-14610	25	16	there	there	PRON
fbem-14610	25	17	was	be	VERB
fbem-14610	25	18	a	a	DET
fbem-14610	25	19	unidirectional	unidirectional	ADJ
fbem-14610	25	20	granger	granger	NOUN
fbem-14610	25	21	causality	causality	NOUN
fbem-14610	25	22	relationship	relationship	NOUN
fbem-14610	25	23	from	from	ADP
fbem-14610	25	24	the	the	DET
fbem-14610	25	25	mainland	mainland	NOUN
fbem-14610	25	26	a	a	DET
fbem-14610	25	27	-	-	PUNCT
fbem-14610	25	28	share	share	NOUN
fbem-14610	25	29	market	market	NOUN
fbem-14610	25	30	to	to	ADP
fbem-14610	25	31	the	the	DET
fbem-14610	25	32	hong	hong	PROPN
fbem-14610	25	33	kong	kong	PROPN
fbem-14610	25	34	stock	stock	NOUN
fbem-14610	25	35	market	market	NOUN
fbem-14610	25	36	.	.	PUNCT
fbem-14610	26	1	during	during	ADP
fbem-14610	26	2	the	the	DET
fbem-14610	26	3	pandemic	pandemic	ADJ
fbem-14610	26	4	period	period	NOUN
fbem-14610	26	5	from	from	ADP
fbem-14610	26	6	january	january	PROPN
fbem-14610	26	7	2020	2020	NUM
fbem-14610	26	8	to	to	ADP
fbem-14610	26	9	december	december	PROPN
fbem-14610	26	10	2022	2022	NUM
fbem-14610	26	11	,	,	PUNCT
fbem-14610	26	12	there	there	PRON
fbem-14610	26	13	existed	exist	VERB
fbem-14610	26	14	a	a	DET
fbem-14610	26	15	unidirectional	unidirectional	ADJ
fbem-14610	26	16	granger	granger	NOUN
fbem-14610	26	17	causality	causality	NOUN
fbem-14610	26	18	relationship	relationship	NOUN
fbem-14610	26	19	from	from	ADP
fbem-14610	26	20	the	the	DET
fbem-14610	26	21	hong	hong	PROPN
fbem-14610	26	22	kong	kong	PROPN
fbem-14610	26	23	stock	stock	NOUN
fbem-14610	26	24	market	market	NOUN
fbem-14610	26	25	to	to	ADP
fbem-14610	26	26	the	the	DET
fbem-14610	26	27	mainland	mainland	NOUN
fbem-14610	26	28	a	a	DET
fbem-14610	26	29	-	-	PUNCT
fbem-14610	26	30	share	share	NOUN
fbem-14610	26	31	market	market	NOUN
fbem-14610	26	32	.	.	PUNCT
fbem-14610	27	1	2	2	X
fbem-14610	27	2	.	.	X
fbem-14610	27	3	literature	literature	NOUN
fbem-14610	27	4	review	review	NOUN
fbem-14610	27	5	in	in	ADP
fbem-14610	27	6	the	the	DET
fbem-14610	27	7	methodology	methodology	NOUN
fbem-14610	27	8	of	of	ADP
fbem-14610	27	9	studying	study	VERB
fbem-14610	27	10	contagion	contagion	NOUN
fbem-14610	27	11	effect	effect	NOUN
fbem-14610	27	12	,	,	PUNCT
fbem-14610	27	13	marinko	marinko	NOUN
fbem-14610	27	14	and	and	CCONJ
fbem-14610	27	15	skare	skare	NOUN
fbem-14610	27	16	(	(	PUNCT
fbem-14610	27	17	2019	2019	NUM
fbem-14610	27	18	)	)	PUNCT
fbem-14610	27	19	employed	employ	VERB
fbem-14610	27	20	frequency	frequency	NOUN
fbem-14610	27	21	-	-	PUNCT
fbem-14610	27	22	domain	domain	NOUN
fbem-14610	27	23	granger	granger	NOUN
fbem-14610	27	24	causality	causality	NOUN
fbem-14610	27	25	tests	test	NOUN
fbem-14610	27	26	to	to	PART
fbem-14610	27	27	investigate	investigate	VERB
fbem-14610	27	28	the	the	DET
fbem-14610	27	29	financial	financial	ADJ
fbem-14610	27	30	-	-	PUNCT
fbem-14610	27	31	growth	growth	NOUN
fbem-14610	27	32	relationship	relationship	NOUN
fbem-14610	27	33	in	in	ADP
fbem-14610	27	34	19	19	NUM
fbem-14610	27	35	central	central	ADJ
fbem-14610	27	36	and	and	CCONJ
fbem-14610	27	37	eastern	eastern	ADJ
fbem-14610	27	38	european	european	ADJ
fbem-14610	27	39	and	and	CCONJ
fbem-14610	27	40	southeastern	southeastern	ADJ
fbem-14610	27	41	european	european	PROPN
fbem-14610	27	42	(	(	PUNCT
fbem-14610	27	43	cesee	cesee	NOUN
fbem-14610	27	44	)	)	PUNCT
fbem-14610	27	45	countries	country	NOUN
fbem-14610	27	46	from	from	ADP
fbem-14610	27	47	1991	1991	NUM
fbem-14610	27	48	to	to	ADP
fbem-14610	27	49	2017	2017	NUM
fbem-14610	27	50	.	.	PUNCT
fbem-14610	28	1	seyi	seyi	PROPN
fbem-14610	28	2	saint	saint	PROPN
fbem-14610	28	3	(	(	PUNCT
fbem-14610	28	4	2020	2020	NUM
fbem-14610	28	5	)	)	PUNCT
fbem-14610	28	6	and	and	CCONJ
fbem-14610	28	7	akadiri	akadiri	NOUN
fbem-14610	28	8	(	(	PUNCT
fbem-14610	28	9	2018	2018	NUM
fbem-14610	28	10	)	)	PUNCT
fbem-14610	28	11	utilized	utilize	VERB
fbem-14610	28	12	granger	granger	NOUN
fbem-14610	28	13	causality	causality	NOUN
fbem-14610	28	14	tests	test	NOUN
fbem-14610	28	15	to	to	PART
fbem-14610	28	16	examine	examine	VERB
fbem-14610	28	17	the	the	DET
fbem-14610	28	18	causal	causal	ADJ
fbem-14610	28	19	relationships	relationship	NOUN
fbem-14610	28	20	among	among	ADP
fbem-14610	28	21	the	the	DET
fbem-14610	28	22	tourism	tourism	NOUN
fbem-14610	28	23	industry	industry	NOUN
fbem-14610	28	24	,	,	PUNCT
fbem-14610	28	25	economic	economic	ADJ
fbem-14610	28	26	growth	growth	NOUN
fbem-14610	28	27	,	,	PUNCT
fbem-14610	28	28	and	and	CCONJ
fbem-14610	28	29	carbon	carbon	NOUN
fbem-14610	28	30	emissions	emission	NOUN
fbem-14610	28	31	within	within	ADP
fbem-14610	28	32	a	a	DET
fbem-14610	28	33	multivariate	multivariate	NOUN
fbem-14610	28	34	framework	framework	NOUN
fbem-14610	28	35	.	.	PUNCT
fbem-14610	29	1	mishra	mishra	PROPN
fbem-14610	29	2	et	et	PROPN
fbem-14610	29	3	al	al	PROPN
fbem-14610	29	4	.	.	PROPN
fbem-14610	30	1	(	(	PUNCT
fbem-14610	30	2	2021	2021	NUM
fbem-14610	30	3	)	)	PUNCT
fbem-14610	30	4	used	use	VERB
fbem-14610	30	5	the	the	DET
fbem-14610	30	6	quantile	quantile	ADJ
fbem-14610	30	7	autoregressive	autoregressive	ADJ
fbem-14610	30	8	distributed	distribute	VERB
fbem-14610	30	9	lag	lag	NOUN
fbem-14610	30	10	method	method	NOUN
fbem-14610	30	11	to	to	PART
fbem-14610	30	12	study	study	VERB
fbem-14610	30	13	the	the	DET
fbem-14610	30	14	contagion	contagion	NOUN
fbem-14610	30	15	between	between	ADP
fbem-14610	30	16	clean	clean	ADJ
fbem-14610	30	17	energy	energy	NOUN
fbem-14610	30	18	and	and	CCONJ
fbem-14610	30	19	oil	oil	NOUN
fbem-14610	30	20	prices	price	NOUN
fbem-14610	30	21	in	in	ADP
fbem-14610	30	22	europe	europe	PROPN
fbem-14610	30	23	and	and	CCONJ
fbem-14610	30	24	the	the	DET
fbem-14610	30	25	united	united	PROPN
fbem-14610	30	26	states	states	PROPN
fbem-14610	30	27	,	,	PUNCT
fbem-14610	30	28	investigating	investigate	VERB
fbem-14610	30	29	the	the	DET
fbem-14610	30	30	impact	impact	NOUN
fbem-14610	30	31	of	of	ADP
fbem-14610	30	32	changes	change	NOUN
fbem-14610	30	33	in	in	ADP
fbem-14610	30	34	clean	clean	ADJ
fbem-14610	30	35	energy	energy	NOUN
fbem-14610	30	36	87	87	NUM
fbem-14610	30	37	stock	stock	NOUN
fbem-14610	30	38	returns	return	NOUN
fbem-14610	30	39	on	on	ADP
fbem-14610	30	40	oil	oil	NOUN
fbem-14610	30	41	and	and	CCONJ
fbem-14610	30	42	gold	gold	NOUN
fbem-14610	30	43	price	price	NOUN
fbem-14610	30	44	movements	movement	NOUN
fbem-14610	30	45	.	.	PUNCT
fbem-14610	31	1	regarding	regard	VERB
fbem-14610	31	2	the	the	DET
fbem-14610	31	3	research	research	NOUN
fbem-14610	31	4	subjects	subject	NOUN
fbem-14610	31	5	,	,	PUNCT
fbem-14610	31	6	nuhu	nuhu	VERB
fbem-14610	31	7	a	a	DET
fbem-14610	31	8	sansa	sansa	PROPN
fbem-14610	31	9	(	(	PUNCT
fbem-14610	31	10	2020	2020	NUM
fbem-14610	31	11	)	)	PUNCT
fbem-14610	31	12	found	find	VERB
fbem-14610	31	13	,	,	PUNCT
fbem-14610	31	14	during	during	ADP
fbem-14610	31	15	the	the	DET
fbem-14610	31	16	period	period	NOUN
fbem-14610	31	17	from	from	ADP
fbem-14610	31	18	march	march	PROPN
fbem-14610	31	19	1	1	NUM
fbem-14610	31	20	,	,	PUNCT
fbem-14610	31	21	2020	2020	NUM
fbem-14610	31	22	,	,	PUNCT
fbem-14610	31	23	to	to	ADP
fbem-14610	31	24	march	march	PROPN
fbem-14610	31	25	25	25	NUM
fbem-14610	31	26	,	,	PUNCT
fbem-14610	31	27	2020	2020	NUM
fbem-14610	31	28	,	,	PUNCT
fbem-14610	31	29	a	a	DET
fbem-14610	31	30	significant	significant	ADJ
fbem-14610	31	31	positive	positive	ADJ
fbem-14610	31	32	correlation	correlation	NOUN
fbem-14610	31	33	between	between	ADP
fbem-14610	31	34	all	all	DET
fbem-14610	31	35	financial	financial	ADJ
fbem-14610	31	36	markets	market	NOUN
fbem-14610	31	37	in	in	ADP
fbem-14610	31	38	china	china	PROPN
fbem-14610	31	39	and	and	CCONJ
fbem-14610	31	40	the	the	DET
fbem-14610	31	41	united	united	PROPN
fbem-14610	31	42	states	states	PROPN
fbem-14610	31	43	(	(	PUNCT
fbem-14610	31	44	shanghai	shanghai	PROPN
fbem-14610	31	45	stock	stock	PROPN
fbem-14610	31	46	exchange	exchange	PROPN
fbem-14610	31	47	and	and	CCONJ
fbem-14610	31	48	the	the	DET
fbem-14610	31	49	new	new	PROPN
fbem-14610	31	50	york	york	PROPN
fbem-14610	31	51	dow	dow	PROPN
fbem-14610	31	52	jones	jones	PROPN
fbem-14610	31	53	index	index	PROPN
fbem-14610	31	54	)	)	PUNCT
fbem-14610	31	55	and	and	CCONJ
fbem-14610	31	56	confirmed	confirm	VERB
fbem-14610	31	57	covid-19	covid-19	PROPN
fbem-14610	31	58	confirmed	confirm	VERB
fbem-14610	31	59	cases	case	NOUN
fbem-14610	31	60	.	.	PUNCT
fbem-14610	32	1	zhifeng	zhifeng	PROPN
fbem-14610	32	2	dai	dai	PROPN
fbem-14610	32	3	et	et	PROPN
fbem-14610	32	4	al	al	PROPN
fbem-14610	32	5	.	.	PROPN
fbem-14610	32	6	(	(	PUNCT
fbem-14610	32	7	2020	2020	NUM
fbem-14610	32	8	)	)	PUNCT
fbem-14610	32	9	,	,	PUNCT
fbem-14610	32	10	through	through	ADP
fbem-14610	32	11	the	the	DET
fbem-14610	32	12	analysis	analysis	NOUN
fbem-14610	32	13	of	of	ADP
fbem-14610	32	14	a	a	DET
fbem-14610	32	15	linear	linear	ADJ
fbem-14610	32	16	autoregressive	autoregressive	ADJ
fbem-14610	32	17	model	model	NOUN
fbem-14610	32	18	,	,	PUNCT
fbem-14610	32	19	affirmed	affirm	VERB
fbem-14610	32	20	that	that	SCONJ
fbem-14610	32	21	internal	internal	ADJ
fbem-14610	32	22	changes	change	NOUN
fbem-14610	32	23	in	in	ADP
fbem-14610	32	24	the	the	DET
fbem-14610	32	25	stock	stock	NOUN
fbem-14610	32	26	market	market	NOUN
fbem-14610	32	27	lead	lead	NOUN
fbem-14610	32	28	to	to	ADP
fbem-14610	32	29	corresponding	correspond	VERB
fbem-14610	32	30	external	external	ADJ
fbem-14610	32	31	changes	change	NOUN
fbem-14610	32	32	,	,	PUNCT
fbem-14610	32	33	a	a	DET
fbem-14610	32	34	phenomenon	phenomenon	NOUN
fbem-14610	32	35	confirmed	confirm	VERB
fbem-14610	32	36	through	through	ADP
fbem-14610	32	37	granger	granger	PROPN
fbem-14610	32	38	causality	causality	PROPN
fbem-14610	32	39	.	.	PUNCT
fbem-14610	33	1	karamat	karamat	PROPN
fbem-14610	33	2	khan	khan	PROPN
fbem-14610	33	3	et	et	PROPN
fbem-14610	33	4	al	al	PROPN
fbem-14610	33	5	.	.	PROPN
fbem-14610	33	6	(	(	PUNCT
fbem-14610	33	7	2020	2020	NUM
fbem-14610	33	8	)	)	PUNCT
fbem-14610	33	9	combined	combine	VERB
fbem-14610	33	10	ols	ol	NOUN
fbem-14610	33	11	regression	regression	NOUN
fbem-14610	33	12	,	,	PUNCT
fbem-14610	33	13	conventional	conventional	ADJ
fbem-14610	33	14	t	t	NOUN
fbem-14610	33	15	-	-	PUNCT
fbem-14610	33	16	tests	test	NOUN
fbem-14610	33	17	,	,	PUNCT
fbem-14610	33	18	and	and	CCONJ
fbem-14610	33	19	mannwhitney	mannwhitney	NOUN
fbem-14610	33	20	tests	test	NOUN
fbem-14610	33	21	to	to	PART
fbem-14610	33	22	estimate	estimate	VERB
fbem-14610	33	23	research	research	NOUN
fbem-14610	33	24	results	result	NOUN
fbem-14610	33	25	,	,	PUNCT
fbem-14610	33	26	investigating	investigate	VERB
fbem-14610	33	27	the	the	DET
fbem-14610	33	28	impact	impact	NOUN
fbem-14610	33	29	of	of	ADP
fbem-14610	33	30	the	the	DET
fbem-14610	33	31	covid-19	covid-19	PROPN
fbem-14610	33	32	pandemic	pandemic	NOUN
fbem-14610	33	33	on	on	ADP
fbem-14610	33	34	the	the	DET
fbem-14610	33	35	stock	stock	NOUN
fbem-14610	33	36	markets	market	NOUN
fbem-14610	33	37	of	of	ADP
fbem-14610	33	38	16	16	NUM
fbem-14610	33	39	countries	country	NOUN
fbem-14610	33	40	.	.	PUNCT
fbem-14610	34	1	the	the	DET
fbem-14610	34	2	results	result	NOUN
fbem-14610	34	3	showed	show	VERB
fbem-14610	34	4	that	that	SCONJ
fbem-14610	34	5	all	all	DET
fbem-14610	34	6	stock	stock	NOUN
fbem-14610	34	7	market	market	NOUN
fbem-14610	34	8	indices	index	NOUN
fbem-14610	34	9	responded	respond	VERB
fbem-14610	34	10	negatively	negatively	ADV
fbem-14610	34	11	to	to	ADP
fbem-14610	34	12	this	this	DET
fbem-14610	34	13	news	news	NOUN
fbem-14610	34	14	in	in	ADP
fbem-14610	34	15	both	both	CCONJ
fbem-14610	34	16	short	short	ADJ
fbem-14610	34	17	-	-	PUNCT
fbem-14610	34	18	term	term	NOUN
fbem-14610	34	19	and	and	CCONJ
fbem-14610	34	20	long	long	ADJ
fbem-14610	34	21	-	-	PUNCT
fbem-14610	34	22	term	term	NOUN
fbem-14610	34	23	event	event	NOUN
fbem-14610	34	24	windows	window	NOUN
fbem-14610	34	25	.	.	PUNCT
fbem-14610	35	1	in	in	ADP
fbem-14610	35	2	theoretical	theoretical	ADJ
fbem-14610	35	3	studies	study	NOUN
fbem-14610	35	4	on	on	ADP
fbem-14610	35	5	stock	stock	NOUN
fbem-14610	35	6	market	market	NOUN
fbem-14610	35	7	contagion	contagion	NOUN
fbem-14610	35	8	,	,	PUNCT
fbem-14610	35	9	wang	wang	PROPN
fbem-14610	35	10	tao	tao	PROPN
fbem-14610	35	11	and	and	CCONJ
fbem-14610	35	12	dong	dong	PROPN
fbem-14610	35	13	meisheng	meisheng	PROPN
fbem-14610	35	14	(	(	PUNCT
fbem-14610	35	15	2018	2018	NUM
fbem-14610	35	16	)	)	PUNCT
fbem-14610	35	17	employed	employ	VERB
fbem-14610	35	18	the	the	DET
fbem-14610	35	19	gjr	gjr	NOUN
fbem-14610	35	20	-	-	PUNCT
fbem-14610	35	21	garchdcc	garchdcc	NOUN
fbem-14610	35	22	model	model	NOUN
fbem-14610	35	23	,	,	PUNCT
fbem-14610	35	24	zhao	zhao	X
fbem-14610	35	25	shanshan	shanshan	PROPN
fbem-14610	35	26	and	and	CCONJ
fbem-14610	35	27	yin	yin	PROPN
fbem-14610	35	28	guangwei	guangwei	NOUN
fbem-14610	35	29	(	(	PUNCT
fbem-14610	35	30	2020	2020	NUM
fbem-14610	35	31	)	)	PUNCT
fbem-14610	35	32	utilized	utilize	VERB
fbem-14610	35	33	adf	adf	PROPN
fbem-14610	35	34	,	,	PUNCT
fbem-14610	35	35	johansen	johansen	PROPN
fbem-14610	35	36	,	,	PUNCT
fbem-14610	35	37	and	and	CCONJ
fbem-14610	35	38	granger	granger	PROPN
fbem-14610	35	39	tests	test	NOUN
fbem-14610	35	40	,	,	PUNCT
fbem-14610	35	41	while	while	SCONJ
fbem-14610	35	42	jin	jin	PROPN
fbem-14610	35	43	jiaqi	jiaqi	PROPN
fbem-14610	35	44	(	(	PUNCT
fbem-14610	35	45	2019	2019	NUM
fbem-14610	35	46	)	)	PUNCT
fbem-14610	35	47	applied	apply	VERB
fbem-14610	35	48	various	various	ADJ
fbem-14610	35	49	methods	method	NOUN
fbem-14610	35	50	,	,	PUNCT
fbem-14610	35	51	including	include	VERB
fbem-14610	35	52	granger	granger	PROPN
fbem-14610	35	53	tests	test	NOUN
fbem-14610	35	54	and	and	CCONJ
fbem-14610	35	55	garch	garch	NOUN
fbem-14610	35	56	models	model	NOUN
fbem-14610	35	57	,	,	PUNCT
fbem-14610	35	58	to	to	PART
fbem-14610	35	59	investigate	investigate	VERB
fbem-14610	35	60	the	the	DET
fbem-14610	35	61	changes	change	NOUN
fbem-14610	35	62	in	in	ADP
fbem-14610	35	63	interconnectivity	interconnectivity	NOUN
fbem-14610	35	64	between	between	ADP
fbem-14610	35	65	the	the	DET
fbem-14610	35	66	shanghai	shanghai	PROPN
fbem-14610	35	67	,	,	PUNCT
fbem-14610	35	68	shenzhen	shenzhen	PROPN
fbem-14610	35	69	,	,	PUNCT
fbem-14610	35	70	and	and	CCONJ
fbem-14610	35	71	hong	hong	PROPN
fbem-14610	35	72	kong	kong	PROPN
fbem-14610	35	73	stock	stock	NOUN
fbem-14610	35	74	markets	market	NOUN
fbem-14610	35	75	.	.	PUNCT
fbem-14610	36	1	they	they	PRON
fbem-14610	36	2	found	find	VERB
fbem-14610	36	3	that	that	SCONJ
fbem-14610	36	4	the	the	DET
fbem-14610	36	5	mutual	mutual	ADJ
fbem-14610	36	6	access	access	NOUN
fbem-14610	36	7	mechanism	mechanism	NOUN
fbem-14610	36	8	between	between	ADP
fbem-14610	36	9	mainland	mainland	NOUN
fbem-14610	36	10	china	china	PROPN
fbem-14610	36	11	and	and	CCONJ
fbem-14610	36	12	hong	hong	PROPN
fbem-14610	36	13	kong	kong	PROPN
fbem-14610	36	14	has	have	VERB
fbem-14610	36	15	a	a	DET
fbem-14610	36	16	promoting	promote	VERB
fbem-14610	36	17	effect	effect	NOUN
fbem-14610	36	18	on	on	ADP
fbem-14610	36	19	the	the	DET
fbem-14610	36	20	contagion	contagion	NOUN
fbem-14610	36	21	between	between	ADP
fbem-14610	36	22	the	the	DET
fbem-14610	36	23	shanghaihong	shanghaihong	PROPN
fbem-14610	36	24	kong	kong	PROPN
fbem-14610	36	25	and	and	CCONJ
fbem-14610	36	26	shenzhen	shenzhen	PROPN
fbem-14610	36	27	-	-	PUNCT
fbem-14610	36	28	hong	hong	PROPN
fbem-14610	36	29	kong	kong	PROPN
fbem-14610	36	30	stock	stock	NOUN
fbem-14610	36	31	markets	market	NOUN
fbem-14610	36	32	.	.	PUNCT
fbem-14610	37	1	wu	wu	PROPN
fbem-14610	37	2	xiaofei	xiaofei	PROPN
fbem-14610	37	3	et	et	PROPN
fbem-14610	37	4	al	al	PROPN
fbem-14610	37	5	.	.	PROPN
fbem-14610	37	6	(	(	PUNCT
fbem-14610	37	7	2020	2020	NUM
fbem-14610	37	8	)	)	PUNCT
fbem-14610	37	9	used	use	VERB
fbem-14610	37	10	sjc	sjc	NOUN
fbem-14610	37	11	-	-	PUNCT
fbem-14610	37	12	copula	copula	NOUN
fbem-14610	37	13	,	,	PUNCT
fbem-14610	37	14	markov	markov	NOUN
fbem-14610	37	15	state	state	NOUN
fbem-14610	37	16	transition	transition	NOUN
fbem-14610	37	17	,	,	PUNCT
fbem-14610	37	18	and	and	CCONJ
fbem-14610	37	19	an	an	DET
fbem-14610	37	20	improved	improved	ADJ
fbem-14610	37	21	icss	icss	NOUN
fbem-14610	37	22	algorithm	algorithm	NOUN
fbem-14610	37	23	,	,	PUNCT
fbem-14610	37	24	along	along	ADP
fbem-14610	37	25	with	with	ADP
fbem-14610	37	26	variance	variance	NOUN
fbem-14610	37	27	structure	structure	NOUN
fbem-14610	37	28	change	change	NOUN
fbem-14610	37	29	-	-	PUNCT
fbem-14610	37	30	point	point	NOUN
fbem-14610	37	31	tests	test	NOUN
fbem-14610	37	32	,	,	PUNCT
fbem-14610	37	33	to	to	PART
fbem-14610	37	34	discover	discover	VERB
fbem-14610	37	35	that	that	SCONJ
fbem-14610	37	36	the	the	DET
fbem-14610	37	37	relationship	relationship	NOUN
fbem-14610	37	38	between	between	ADP
fbem-14610	37	39	the	the	DET
fbem-14610	37	40	mainland	mainland	NOUN
fbem-14610	37	41	and	and	CCONJ
fbem-14610	37	42	hong	hong	PROPN
fbem-14610	37	43	kong	kong	PROPN
fbem-14610	37	44	stock	stock	NOUN
fbem-14610	37	45	markets	market	NOUN
fbem-14610	37	46	is	be	AUX
fbem-14610	37	47	nonlinear	nonlinear	ADJ
fbem-14610	37	48	and	and	CCONJ
fbem-14610	37	49	asymmetric	asymmetric	ADJ
fbem-14610	37	50	,	,	PUNCT
fbem-14610	37	51	with	with	ADP
fbem-14610	37	52	frequent	frequent	ADJ
fbem-14610	37	53	shifts	shift	NOUN
fbem-14610	37	54	between	between	ADP
fbem-14610	37	55	high	high	ADJ
fbem-14610	37	56	and	and	CCONJ
fbem-14610	37	57	low	low	ADJ
fbem-14610	37	58	states	state	NOUN
fbem-14610	37	59	.	.	PUNCT
fbem-14610	38	1	lan	lan	PROPN
fbem-14610	38	2	bo	bo	PROPN
fbem-14610	38	3	and	and	CCONJ
fbem-14610	38	4	zhuang	zhuang	PROPN
fbem-14610	38	5	lei	lei	PROPN
fbem-14610	38	6	(	(	PUNCT
fbem-14610	38	7	2021	2021	NUM
fbem-14610	38	8	)	)	PUNCT
fbem-14610	38	9	delved	delve	VERB
fbem-14610	38	10	into	into	ADP
fbem-14610	38	11	the	the	DET
fbem-14610	38	12	profound	profound	ADJ
fbem-14610	38	13	and	and	CCONJ
fbem-14610	38	14	lasting	lasting	ADJ
fbem-14610	38	15	changes	change	NOUN
fbem-14610	38	16	brought	bring	VERB
fbem-14610	38	17	by	by	ADP
fbem-14610	38	18	the	the	DET
fbem-14610	38	19	covid-19	covid-19	PROPN
fbem-14610	38	20	pandemic	pandemic	NOUN
fbem-14610	38	21	to	to	ADP
fbem-14610	38	22	various	various	ADJ
fbem-14610	38	23	segmented	segment	VERB
fbem-14610	38	24	financial	financial	ADJ
fbem-14610	38	25	markets	market	NOUN
fbem-14610	38	26	,	,	PUNCT
fbem-14610	38	27	employing	employ	VERB
fbem-14610	38	28	var	var	NOUN
fbem-14610	38	29	,	,	PUNCT
fbem-14610	38	30	vcc	vcc	PROPN
fbem-14610	38	31	-	-	PUNCT
fbem-14610	38	32	m	m	NOUN
fbem-14610	38	33	-	-	PUNCT
fbem-14610	38	34	garch	garch	NOUN
fbem-14610	38	35	,	,	PUNCT
fbem-14610	38	36	tgarch	tgarch	NOUN
fbem-14610	38	37	models	model	NOUN
fbem-14610	38	38	,	,	PUNCT
fbem-14610	38	39	and	and	CCONJ
fbem-14610	38	40	a	a	DET
fbem-14610	38	41	dynamic	dynamic	ADJ
fbem-14610	38	42	markov	markov	NOUN
fbem-14610	38	43	switching	switching	NOUN
fbem-14610	38	44	model	model	NOUN
fbem-14610	38	45	.	.	PUNCT
fbem-14610	39	1	they	they	PRON
fbem-14610	39	2	found	find	VERB
fbem-14610	39	3	that	that	SCONJ
fbem-14610	39	4	the	the	DET
fbem-14610	39	5	impact	impact	NOUN
fbem-14610	39	6	of	of	ADP
fbem-14610	39	7	the	the	DET
fbem-14610	39	8	covid-19	covid-19	PROPN
fbem-14610	39	9	pandemic	pandemic	NOUN
fbem-14610	39	10	on	on	ADP
fbem-14610	39	11	financial	financial	ADJ
fbem-14610	39	12	markets	market	NOUN
fbem-14610	39	13	exhibits	exhibit	VERB
fbem-14610	39	14	dynamic	dynamic	ADJ
fbem-14610	39	15	lag	lag	NOUN
fbem-14610	39	16	effects	effect	NOUN
fbem-14610	39	17	,	,	PUNCT
fbem-14610	39	18	distinct	distinct	ADJ
fbem-14610	39	19	threshold	threshold	NOUN
fbem-14610	39	20	effects	effect	NOUN
fbem-14610	39	21	,	,	PUNCT
fbem-14610	39	22	and	and	CCONJ
fbem-14610	39	23	state	state	NOUN
fbem-14610	39	24	transition	transition	NOUN
fbem-14610	39	25	effects	effect	NOUN
fbem-14610	39	26	.	.	PUNCT
fbem-14610	40	1	3	3	X
fbem-14610	40	2	.	.	X
fbem-14610	40	3	basic	basic	ADJ
fbem-14610	40	4	theory	theory	NOUN
fbem-14610	40	5	3.1	3.1	NUM
fbem-14610	40	6	.	.	PUNCT
fbem-14610	41	1	contagion	contagion	NOUN
fbem-14610	41	2	effect	effect	NOUN
fbem-14610	41	3	the	the	DET
fbem-14610	41	4	term	term	NOUN
fbem-14610	41	5	'	'	PUNCT
fbem-14610	41	6	contagion	contagion	NOUN
fbem-14610	41	7	'	'	PUNCT
fbem-14610	41	8	was	be	AUX
fbem-14610	41	9	first	first	ADV
fbem-14610	41	10	introduced	introduce	VERB
fbem-14610	41	11	by	by	ADP
fbem-14610	41	12	lucas	lucas	PROPN
fbem-14610	41	13	(	(	PUNCT
fbem-14610	41	14	1977	1977	NUM
fbem-14610	41	15	)	)	PUNCT
fbem-14610	41	16	in	in	ADP
fbem-14610	41	17	his	his	PRON
fbem-14610	41	18	book	book	NOUN
fbem-14610	41	19	'	'	PART
fbem-14610	41	20	studies	study	NOUN
fbem-14610	41	21	in	in	ADP
fbem-14610	41	22	business	business	NOUN
fbem-14610	41	23	-	-	PUNCT
fbem-14610	41	24	cycle	cycle	NOUN
fbem-14610	41	25	theory	theory	NOUN
fbem-14610	41	26	.	.	PUNCT
fbem-14610	41	27	'	'	PUNCT
fbem-14610	42	1	contagion	contagion	NOUN
fbem-14610	42	2	is	be	AUX
fbem-14610	42	3	typically	typically	ADV
fbem-14610	42	4	defined	define	VERB
fbem-14610	42	5	as	as	ADP
fbem-14610	42	6	the	the	DET
fbem-14610	42	7	occurrence	occurrence	NOUN
fbem-14610	42	8	of	of	ADP
fbem-14610	42	9	interrelated	interrelated	ADJ
fbem-14610	42	10	phenomena	phenomenon	NOUN
fbem-14610	42	11	.	.	PUNCT
fbem-14610	43	1	in	in	ADP
fbem-14610	43	2	the	the	DET
fbem-14610	43	3	context	context	NOUN
fbem-14610	43	4	of	of	ADP
fbem-14610	43	5	stock	stock	NOUN
fbem-14610	43	6	markets	market	NOUN
fbem-14610	43	7	,	,	PUNCT
fbem-14610	43	8	market	market	NOUN
fbem-14610	43	9	contagion	contagion	NOUN
fbem-14610	43	10	refers	refer	VERB
fbem-14610	43	11	to	to	ADP
fbem-14610	43	12	the	the	DET
fbem-14610	43	13	simultaneous	simultaneous	ADJ
fbem-14610	43	14	or	or	CCONJ
fbem-14610	43	15	opposite	opposite	ADJ
fbem-14610	43	16	movements	movement	NOUN
fbem-14610	43	17	in	in	ADP
fbem-14610	43	18	the	the	DET
fbem-14610	43	19	returns	return	NOUN
fbem-14610	43	20	of	of	ADP
fbem-14610	43	21	different	different	ADJ
fbem-14610	43	22	assets	asset	NOUN
fbem-14610	43	23	.	.	PUNCT
fbem-14610	44	1	this	this	DET
fbem-14610	44	2	phenomenon	phenomenon	NOUN
fbem-14610	44	3	can	can	AUX
fbem-14610	44	4	occur	occur	VERB
fbem-14610	44	5	globally	globally	ADV
fbem-14610	44	6	between	between	ADP
fbem-14610	44	7	stock	stock	NOUN
fbem-14610	44	8	markets	market	NOUN
fbem-14610	44	9	and	and	CCONJ
fbem-14610	44	10	within	within	ADP
fbem-14610	44	11	the	the	DET
fbem-14610	44	12	stock	stock	NOUN
fbem-14610	44	13	market	market	NOUN
fbem-14610	44	14	of	of	ADP
fbem-14610	44	15	a	a	DET
fbem-14610	44	16	single	single	ADJ
fbem-14610	44	17	country	country	NOUN
fbem-14610	44	18	.	.	PUNCT
fbem-14610	45	1	the	the	DET
fbem-14610	45	2	stock	stock	NOUN
fbem-14610	45	3	market	market	NOUN
fbem-14610	45	4	contagion	contagion	NOUN
fbem-14610	45	5	defined	define	VERB
fbem-14610	45	6	in	in	ADP
fbem-14610	45	7	this	this	DET
fbem-14610	45	8	paper	paper	NOUN
fbem-14610	45	9	refers	refer	VERB
fbem-14610	45	10	to	to	ADP
fbem-14610	45	11	the	the	DET
fbem-14610	45	12	co	co	NOUN
fbem-14610	45	13	-	-	NOUN
fbem-14610	45	14	movements	movement	NOUN
fbem-14610	45	15	or	or	CCONJ
fbem-14610	45	16	changes	change	NOUN
fbem-14610	45	17	among	among	ADP
fbem-14610	45	18	stock	stock	NOUN
fbem-14610	45	19	market	market	NOUN
fbem-14610	45	20	indices	index	NOUN
fbem-14610	45	21	in	in	ADP
fbem-14610	45	22	different	different	ADJ
fbem-14610	45	23	stock	stock	NOUN
fbem-14610	45	24	markets	market	NOUN
fbem-14610	45	25	.	.	PUNCT
fbem-14610	46	1	zhang	zhang	PROPN
fbem-14610	46	2	qian	qian	PROPN
fbem-14610	46	3	wei	wei	PROPN
fbem-14610	46	4	(	(	PUNCT
fbem-14610	46	5	2021	2021	NUM
fbem-14610	46	6	)	)	PUNCT
fbem-14610	46	7	points	point	VERB
fbem-14610	46	8	out	out	ADP
fbem-14610	46	9	that	that	SCONJ
fbem-14610	46	10	there	there	PRON
fbem-14610	46	11	are	be	VERB
fbem-14610	46	12	two	two	NUM
fbem-14610	46	13	basic	basic	ADJ
fbem-14610	46	14	hypotheses	hypothesis	NOUN
fbem-14610	46	15	regarding	regard	VERB
fbem-14610	46	16	stock	stock	NOUN
fbem-14610	46	17	market	market	NOUN
fbem-14610	46	18	contagion	contagion	NOUN
fbem-14610	46	19	:	:	PUNCT
fbem-14610	46	20	the	the	DET
fbem-14610	46	21	economic	economic	ADJ
fbem-14610	46	22	fundamentals	fundamental	NOUN
fbem-14610	46	23	hypothesis	hypothesis	NOUN
fbem-14610	46	24	and	and	CCONJ
fbem-14610	46	25	the	the	DET
fbem-14610	46	26	market	market	NOUN
fbem-14610	46	27	contagion	contagion	NOUN
fbem-14610	46	28	hypothesis	hypothesis	NOUN
fbem-14610	46	29	.	.	PUNCT
fbem-14610	47	1	the	the	DET
fbem-14610	47	2	economic	economic	ADJ
fbem-14610	47	3	fundamentals	fundamental	NOUN
fbem-14610	47	4	hypothesis	hypothesis	NOUN
fbem-14610	47	5	traces	trace	VERB
fbem-14610	47	6	its	its	PRON
fbem-14610	47	7	theoretical	theoretical	ADJ
fbem-14610	47	8	origins	origin	NOUN
fbem-14610	47	9	back	back	ADV
fbem-14610	47	10	to	to	ADP
fbem-14610	47	11	the	the	DET
fbem-14610	47	12	efficient	efficient	ADJ
fbem-14610	47	13	market	market	NOUN
fbem-14610	47	14	hypothesis	hypothesis	NOUN
fbem-14610	47	15	proposed	propose	VERB
fbem-14610	47	16	by	by	ADP
fbem-14610	47	17	eugene	eugene	PROPN
fbem-14610	47	18	fama	fama	PROPN
fbem-14610	47	19	(	(	PUNCT
fbem-14610	47	20	1970	1970	NUM
fbem-14610	47	21	)	)	PUNCT
fbem-14610	47	22	.	.	PUNCT
fbem-14610	48	1	according	accord	VERB
fbem-14610	48	2	to	to	ADP
fbem-14610	48	3	this	this	DET
fbem-14610	48	4	hypothesis	hypothesis	NOUN
fbem-14610	48	5	,	,	PUNCT
fbem-14610	48	6	stock	stock	NOUN
fbem-14610	48	7	prices	price	NOUN
fbem-14610	48	8	in	in	ADP
fbem-14610	48	9	different	different	ADJ
fbem-14610	48	10	regions	region	NOUN
fbem-14610	48	11	are	be	AUX
fbem-14610	48	12	influenced	influence	VERB
fbem-14610	48	13	by	by	ADP
fbem-14610	48	14	common	common	ADJ
fbem-14610	48	15	factors	factor	NOUN
fbem-14610	48	16	such	such	ADJ
fbem-14610	48	17	as	as	ADP
fbem-14610	48	18	government	government	NOUN
fbem-14610	48	19	macroeconomic	macroeconomic	ADJ
fbem-14610	48	20	policies	policy	NOUN
fbem-14610	48	21	and	and	CCONJ
fbem-14610	48	22	fiscal	fiscal	ADJ
fbem-14610	48	23	policies	policy	NOUN
fbem-14610	48	24	,	,	PUNCT
fbem-14610	48	25	resulting	result	VERB
fbem-14610	48	26	in	in	ADP
fbem-14610	48	27	an	an	DET
fbem-14610	48	28	inherent	inherent	ADJ
fbem-14610	48	29	connection	connection	NOUN
fbem-14610	48	30	.	.	PUNCT
fbem-14610	49	1	if	if	SCONJ
fbem-14610	49	2	there	there	PRON
fbem-14610	49	3	is	be	VERB
fbem-14610	49	4	a	a	DET
fbem-14610	49	5	high	high	ADJ
fbem-14610	49	6	degree	degree	NOUN
fbem-14610	49	7	of	of	ADP
fbem-14610	49	8	correlation	correlation	NOUN
fbem-14610	49	9	between	between	ADP
fbem-14610	49	10	the	the	DET
fbem-14610	49	11	fiscal	fiscal	ADJ
fbem-14610	49	12	policies	policy	NOUN
fbem-14610	49	13	and	and	CCONJ
fbem-14610	49	14	macroeconomic	macroeconomic	ADJ
fbem-14610	49	15	data	datum	NOUN
fbem-14610	49	16	of	of	ADP
fbem-14610	49	17	different	different	ADJ
fbem-14610	49	18	countries	country	NOUN
fbem-14610	49	19	,	,	PUNCT
fbem-14610	49	20	investors	investor	NOUN
fbem-14610	49	21	may	may	AUX
fbem-14610	49	22	make	make	VERB
fbem-14610	49	23	similar	similar	ADJ
fbem-14610	49	24	investment	investment	NOUN
fbem-14610	49	25	decisions	decision	NOUN
fbem-14610	49	26	,	,	PUNCT
fbem-14610	49	27	leading	lead	VERB
fbem-14610	49	28	to	to	ADP
fbem-14610	49	29	a	a	DET
fbem-14610	49	30	certain	certain	ADJ
fbem-14610	49	31	degree	degree	NOUN
fbem-14610	49	32	of	of	ADP
fbem-14610	49	33	contagion	contagion	NOUN
fbem-14610	49	34	effect	effect	NOUN
fbem-14610	49	35	between	between	ADP
fbem-14610	49	36	the	the	DET
fbem-14610	49	37	stock	stock	NOUN
fbem-14610	49	38	markets	market	NOUN
fbem-14610	49	39	of	of	ADP
fbem-14610	49	40	different	different	ADJ
fbem-14610	49	41	nations	nation	NOUN
fbem-14610	49	42	.	.	PUNCT
fbem-14610	50	1	the	the	DET
fbem-14610	50	2	market	market	NOUN
fbem-14610	50	3	contagion	contagion	NOUN
fbem-14610	50	4	hypothesis	hypothesis	NOUN
fbem-14610	50	5	,	,	PUNCT
fbem-14610	50	6	proposed	propose	VERB
fbem-14610	50	7	by	by	ADP
fbem-14610	50	8	king	king	NOUN
fbem-14610	50	9	and	and	CCONJ
fbem-14610	50	10	wadhwani	wadhwani	PROPN
fbem-14610	50	11	(	(	PUNCT
fbem-14610	50	12	1990	1990	NUM
fbem-14610	50	13	)	)	PUNCT
fbem-14610	50	14	,	,	PUNCT
fbem-14610	50	15	suggests	suggest	VERB
fbem-14610	50	16	that	that	SCONJ
fbem-14610	50	17	,	,	PUNCT
fbem-14610	50	18	even	even	ADV
fbem-14610	50	19	in	in	ADP
fbem-14610	50	20	the	the	DET
fbem-14610	50	21	absence	absence	NOUN
fbem-14610	50	22	of	of	ADP
fbem-14610	50	23	changes	change	NOUN
fbem-14610	50	24	in	in	ADP
fbem-14610	50	25	economic	economic	ADJ
fbem-14610	50	26	fundamentals	fundamental	NOUN
fbem-14610	50	27	,	,	PUNCT
fbem-14610	50	28	fluctuations	fluctuation	NOUN
fbem-14610	50	29	in	in	ADP
fbem-14610	50	30	one	one	NUM
fbem-14610	50	31	country	country	NOUN
fbem-14610	50	32	's	's	PART
fbem-14610	50	33	stock	stock	NOUN
fbem-14610	50	34	market	market	NOUN
fbem-14610	50	35	caused	cause	VERB
fbem-14610	50	36	by	by	ADP
fbem-14610	50	37	trading	trading	NOUN
fbem-14610	50	38	noise	noise	NOUN
fbem-14610	50	39	can	can	AUX
fbem-14610	50	40	transmit	transmit	VERB
fbem-14610	50	41	to	to	ADP
fbem-14610	50	42	another	another	DET
fbem-14610	50	43	country	country	NOUN
fbem-14610	50	44	's	's	PART
fbem-14610	50	45	stock	stock	NOUN
fbem-14610	50	46	market	market	NOUN
fbem-14610	50	47	.	.	PUNCT
fbem-14610	51	1	this	this	DET
fbem-14610	51	2	hypothesis	hypothesis	NOUN
fbem-14610	51	3	asserts	assert	VERB
fbem-14610	51	4	that	that	SCONJ
fbem-14610	51	5	the	the	DET
fbem-14610	51	6	contagion	contagion	NOUN
fbem-14610	51	7	between	between	ADP
fbem-14610	51	8	stock	stock	NOUN
fbem-14610	51	9	markets	market	NOUN
fbem-14610	51	10	depends	depend	VERB
fbem-14610	51	11	not	not	PART
fbem-14610	51	12	only	only	ADV
fbem-14610	51	13	on	on	ADP
fbem-14610	51	14	macroeconomic	macroeconomic	ADJ
fbem-14610	51	15	fundamentals	fundamental	NOUN
fbem-14610	51	16	but	but	CCONJ
fbem-14610	51	17	also	also	ADV
fbem-14610	51	18	on	on	ADP
fbem-14610	51	19	the	the	DET
fbem-14610	51	20	irrational	irrational	ADJ
fbem-14610	51	21	behavior	behavior	NOUN
fbem-14610	51	22	of	of	ADP
fbem-14610	51	23	investors	investor	NOUN
fbem-14610	51	24	.	.	PUNCT
fbem-14610	52	1	it	it	PRON
fbem-14610	52	2	considers	consider	VERB
fbem-14610	52	3	factors	factor	NOUN
fbem-14610	52	4	such	such	ADJ
fbem-14610	52	5	as	as	ADP
fbem-14610	52	6	investor	investor	NOUN
fbem-14610	52	7	preferences	preference	NOUN
fbem-14610	52	8	,	,	PUNCT
fbem-14610	52	9	emotions	emotion	NOUN
fbem-14610	52	10	,	,	PUNCT
fbem-14610	52	11	and	and	CCONJ
fbem-14610	52	12	the	the	DET
fbem-14610	52	13	impact	impact	NOUN
fbem-14610	52	14	of	of	ADP
fbem-14610	52	15	global	global	ADJ
fbem-14610	52	16	capital	capital	NOUN
fbem-14610	52	17	flows	flow	NOUN
fbem-14610	52	18	in	in	ADP
fbem-14610	52	19	financial	financial	ADJ
fbem-14610	52	20	markets	market	NOUN
fbem-14610	52	21	.	.	PUNCT
fbem-14610	53	1	in	in	ADP
fbem-14610	53	2	other	other	ADJ
fbem-14610	53	3	words	word	NOUN
fbem-14610	53	4	,	,	PUNCT
fbem-14610	53	5	when	when	SCONJ
fbem-14610	53	6	investors	investor	NOUN
fbem-14610	53	7	receive	receive	VERB
fbem-14610	53	8	similar	similar	ADJ
fbem-14610	53	9	information	information	NOUN
fbem-14610	53	10	,	,	PUNCT
fbem-14610	53	11	they	they	PRON
fbem-14610	53	12	tend	tend	VERB
fbem-14610	53	13	to	to	PART
fbem-14610	53	14	form	form	VERB
fbem-14610	53	15	consistent	consistent	ADJ
fbem-14610	53	16	,	,	PUNCT
fbem-14610	53	17	directionally	directionally	ADV
fbem-14610	53	18	similar	similar	ADJ
fbem-14610	53	19	expectations	expectation	NOUN
fbem-14610	53	20	and	and	CCONJ
fbem-14610	53	21	take	take	VERB
fbem-14610	53	22	similar	similar	ADJ
fbem-14610	53	23	actions	action	NOUN
fbem-14610	53	24	simultaneously	simultaneously	ADV
fbem-14610	53	25	.	.	PUNCT
fbem-14610	54	1	this	this	PRON
fbem-14610	54	2	leads	lead	VERB
fbem-14610	54	3	to	to	ADP
fbem-14610	54	4	the	the	DET
fbem-14610	54	5	contagion	contagion	NOUN
fbem-14610	54	6	observed	observe	VERB
fbem-14610	54	7	among	among	ADP
fbem-14610	54	8	stock	stock	NOUN
fbem-14610	54	9	markets	market	NOUN
fbem-14610	54	10	in	in	ADP
fbem-14610	54	11	different	different	ADJ
fbem-14610	54	12	countries	country	NOUN
fbem-14610	54	13	.	.	PUNCT
fbem-14610	55	1	3.2	3.2	NUM
fbem-14610	55	2	.	.	PUNCT
fbem-14610	56	1	stationarity	stationarity	NOUN
fbem-14610	56	2	test	test	NOUN
fbem-14610	56	3	stationarity	stationarity	NOUN
fbem-14610	56	4	assumes	assume	VERB
fbem-14610	56	5	that	that	SCONJ
fbem-14610	56	6	a	a	DET
fbem-14610	56	7	time	time	NOUN
fbem-14610	56	8	series	series	NOUN
fbem-14610	56	9	is	be	AUX
fbem-14610	56	10	generated	generate	VERB
fbem-14610	56	11	by	by	ADP
fbem-14610	56	12	a	a	DET
fbem-14610	56	13	series	series	NOUN
fbem-14610	56	14	of	of	ADP
fbem-14610	56	15	random	random	ADJ
fbem-14610	56	16	processes	process	NOUN
fbem-14610	56	17	.	.	PUNCT
fbem-14610	57	1	in	in	ADP
fbem-14610	57	2	other	other	ADJ
fbem-14610	57	3	words	word	NOUN
fbem-14610	57	4	,	,	PUNCT
fbem-14610	57	5	for	for	ADP
fbem-14610	57	6	each	each	DET
fbem-14610	57	7	parameter	parameter	NOUN
fbem-14610	57	8	in	in	ADP
fbem-14610	57	9	the	the	DET
fbem-14610	57	10	time	time	NOUN
fbem-14610	57	11	series	series	PROPN
fbem-14610	57	12	𝑋	𝑋	PROPN
fbem-14610	57	13	(	(	PUNCT
fbem-14610	57	14	t=1,2,3,4,5	t=1,2,3,4,5	NUM
fbem-14610	57	15	)	)	PUNCT
fbem-14610	57	16	,	,	PUNCT
fbem-14610	57	17	it	it	PRON
fbem-14610	57	18	is	be	AUX
fbem-14610	57	19	assumed	assume	VERB
fbem-14610	57	20	that	that	SCONJ
fbem-14610	57	21	they	they	PRON
fbem-14610	57	22	all	all	PRON
fbem-14610	57	23	come	come	VERB
fbem-14610	57	24	from	from	ADP
fbem-14610	57	25	the	the	DET
fbem-14610	57	26	same	same	ADJ
fbem-14610	57	27	probability	probability	NOUN
fbem-14610	57	28	distribution	distribution	NOUN
fbem-14610	57	29	and	and	CCONJ
fbem-14610	57	30	are	be	AUX
fbem-14610	57	31	randomly	randomly	ADV
fbem-14610	57	32	obtained	obtain	VERB
fbem-14610	57	33	.	.	PUNCT
fbem-14610	58	1	the	the	DET
fbem-14610	58	2	time	time	NOUN
fbem-14610	58	3	series	series	PROPN
fbem-14610	58	4	is	be	AUX
fbem-14610	58	5	considered	consider	VERB
fbem-14610	58	6	stationary	stationary	ADJ
fbem-14610	58	7	if	if	SCONJ
fbem-14610	58	8	it	it	PRON
fbem-14610	58	9	satisfies	satisfy	VERB
fbem-14610	58	10	the	the	DET
fbem-14610	58	11	following	follow	VERB
fbem-14610	58	12	conditions	condition	NOUN
fbem-14610	58	13	:	:	PUNCT
fbem-14610	58	14	1	1	X
fbem-14610	58	15	)	)	PUNCT
fbem-14610	58	16	the	the	DET
fbem-14610	58	17	mean	mean	NOUN
fbem-14610	58	18	𝐸	𝐸	PROPN
fbem-14610	58	19	𝑋	𝑋	NOUN
fbem-14610	58	20	𝑢	𝑢	NOUN
fbem-14610	58	21	is	be	AUX
fbem-14610	58	22	a	a	DET
fbem-14610	58	23	constant	constant	ADJ
fbem-14610	58	24	independent	independent	NOUN
fbem-14610	58	25	of	of	ADP
fbem-14610	58	26	time	time	NOUN
fbem-14610	58	27	t.	t.	PROPN
fbem-14610	58	28	2	2	NUM
fbem-14610	58	29	)	)	PUNCT
fbem-14610	58	30	the	the	DET
fbem-14610	58	31	variance𝑉𝑎𝑟	variance𝑉𝑎𝑟	PROPN
fbem-14610	58	32	𝑋	𝑋	PROPN
fbem-14610	58	33	𝜎	𝜎	PROPN
fbem-14610	58	34	is	be	AUX
fbem-14610	58	35	a	a	DET
fbem-14610	58	36	constant	constant	ADJ
fbem-14610	58	37	independent	independent	NOUN
fbem-14610	58	38	of	of	ADP
fbem-14610	58	39	time	time	NOUN
fbem-14610	58	40	t.	t.	PROPN
fbem-14610	58	41	3	3	NUM
fbem-14610	58	42	)	)	PUNCT
fbem-14610	58	43	the	the	DET
fbem-14610	58	44	covariance	covariance	NOUN
fbem-14610	58	45	𝐶𝑜𝑣	𝐶𝑜𝑣	PROPN
fbem-14610	58	46	𝑋	𝑋	PROPN
fbem-14610	58	47	,	,	PUNCT
fbem-14610	58	48	𝑋	𝑋	PROPN
fbem-14610	58	49	𝑟𝑘	𝑟𝑘	PROPN
fbem-14610	58	50	is	be	AUX
fbem-14610	58	51	a	a	DET
fbem-14610	58	52	constant	constant	ADJ
fbem-14610	58	53	only	only	ADV
fbem-14610	58	54	dependent	dependent	ADJ
fbem-14610	58	55	on	on	ADP
fbem-14610	58	56	the	the	DET
fbem-14610	58	57	time	time	NOUN
fbem-14610	58	58	interval	interval	NOUN
fbem-14610	58	59	k	k	PROPN
fbem-14610	58	60	and	and	CCONJ
fbem-14610	58	61	is	be	AUX
fbem-14610	58	62	independent	independent	ADJ
fbem-14610	58	63	of	of	ADP
fbem-14610	58	64	time	time	NOUN
fbem-14610	58	65	t.	t.	PROPN
fbem-14610	58	66	in	in	ADP
fbem-14610	58	67	this	this	DET
fbem-14610	58	68	case	case	NOUN
fbem-14610	58	69	,	,	PUNCT
fbem-14610	58	70	the	the	DET
fbem-14610	58	71	random	random	ADJ
fbem-14610	58	72	time	time	NOUN
fbem-14610	58	73	series	series	NOUN
fbem-14610	58	74	is	be	AUX
fbem-14610	58	75	termed	term	VERB
fbem-14610	58	76	stationary	stationary	ADJ
fbem-14610	58	77	,	,	PUNCT
fbem-14610	58	78	and	and	CCONJ
fbem-14610	58	79	the	the	DET
fbem-14610	58	80	random	random	ADJ
fbem-14610	58	81	process	process	NOUN
fbem-14610	58	82	is	be	AUX
fbem-14610	58	83	referred	refer	VERB
fbem-14610	58	84	to	to	ADP
fbem-14610	58	85	as	as	ADP
fbem-14610	58	86	a	a	DET
fbem-14610	58	87	stationary	stationary	ADJ
fbem-14610	58	88	stochastic	stochastic	ADJ
fbem-14610	58	89	process	process	NOUN
fbem-14610	58	90	.	.	PUNCT
fbem-14610	59	1	the	the	DET
fbem-14610	59	2	determination	determination	NOUN
fbem-14610	59	3	of	of	ADP
fbem-14610	59	4	stationarity	stationarity	NOUN
fbem-14610	59	5	involves	involve	VERB
fbem-14610	59	6	examining	examine	VERB
fbem-14610	59	7	whether	whether	SCONJ
fbem-14610	59	8	the	the	DET
fbem-14610	59	9	series	series	NOUN
fbem-14610	59	10	has	have	VERB
fbem-14610	59	11	a	a	DET
fbem-14610	59	12	unit	unit	NOUN
fbem-14610	59	13	root	root	NOUN
fbem-14610	59	14	.	.	PUNCT
fbem-14610	60	1	if	if	SCONJ
fbem-14610	60	2	the	the	DET
fbem-14610	60	3	series	series	NOUN
fbem-14610	60	4	is	be	AUX
fbem-14610	60	5	stationary	stationary	ADJ
fbem-14610	60	6	,	,	PUNCT
fbem-14610	60	7	no	no	DET
fbem-14610	60	8	unit	unit	NOUN
fbem-14610	60	9	root	root	NOUN
fbem-14610	60	10	exists	exist	VERB
fbem-14610	60	11	;	;	PUNCT
fbem-14610	60	12	otherwise	otherwise	ADV
fbem-14610	60	13	,	,	PUNCT
fbem-14610	60	14	a	a	DET
fbem-14610	60	15	unit	unit	NOUN
fbem-14610	60	16	root	root	NOUN
fbem-14610	60	17	is	be	AUX
fbem-14610	60	18	present	present	ADJ
fbem-14610	60	19	.	.	PUNCT
fbem-14610	61	1	the	the	DET
fbem-14610	61	2	augmented	augment	VERB
fbem-14610	61	3	dickey	dickey	PROPN
fbem-14610	61	4	-	-	PUNCT
fbem-14610	61	5	fuller	full	ADJ
fbem-14610	61	6	test	test	NOUN
fbem-14610	61	7	(	(	PUNCT
fbem-14610	61	8	adf	adf	NOUN
fbem-14610	61	9	test	test	NOUN
fbem-14610	61	10	)	)	PUNCT
fbem-14610	61	11	is	be	AUX
fbem-14610	61	12	an	an	DET
fbem-14610	61	13	extension	extension	NOUN
fbem-14610	61	14	of	of	ADP
fbem-14610	61	15	the	the	DET
fbem-14610	61	16	dickey	dickey	NOUN
fbem-14610	61	17	and	and	CCONJ
fbem-14610	61	18	fuller	full	ADJ
fbem-14610	61	19	(	(	PUNCT
fbem-14610	61	20	1981	1981	NUM
fbem-14610	61	21	)	)	PUNCT
fbem-14610	61	22	test	test	NOUN
fbem-14610	61	23	.	.	PUNCT
fbem-14610	62	1	the	the	DET
fbem-14610	62	2	adf	adf	PROPN
fbem-14610	62	3	test	test	NOUN
fbem-14610	62	4	is	be	AUX
fbem-14610	62	5	conducted	conduct	VERB
fbem-14610	62	6	through	through	ADP
fbem-14610	62	7	three	three	NUM
fbem-14610	62	8	models	model	NOUN
fbem-14610	62	9	:	:	PUNCT
fbem-14610	62	10	model	model	NOUN
fbem-14610	62	11	1	1	NUM
fbem-14610	62	12	:	:	PUNCT
fbem-14610	62	13	∆𝑌	∆𝑌	PROPN
fbem-14610	62	14	𝛿𝑌	𝛿𝑌	ADV
fbem-14610	62	15	𝛽	𝛽	ADP
fbem-14610	62	16	∆𝑌	∆𝑌	PROPN
fbem-14610	62	17	𝜀	𝜀	PROPN
fbem-14610	62	18	model	model	NOUN
fbem-14610	62	19	2	2	NUM
fbem-14610	62	20	:	:	PUNCT
fbem-14610	62	21	∆𝑌	∆𝑌	NUM
fbem-14610	62	22	𝛼	𝛼	NOUN
fbem-14610	62	23	𝛿𝑌	𝛿𝑌	ADV
fbem-14610	62	24	𝛽	𝛽	NOUN
fbem-14610	62	25	∆𝑌	∆𝑌	PROPN
fbem-14610	62	26	𝜀	𝜀	PROPN
fbem-14610	62	27	model	model	NOUN
fbem-14610	62	28	3	3	NUM
fbem-14610	62	29	:	:	PUNCT
fbem-14610	62	30	∆𝑌	∆𝑌	PROPN
fbem-14610	62	31	𝛼	𝛼	NOUN
fbem-14610	62	32	𝛽𝑇	𝛽𝑇	PROPN
fbem-14610	62	33	𝛿𝑌	𝛿𝑌	ADV
fbem-14610	62	34	𝛽	𝛽	NOUN
fbem-14610	62	35	∆𝑌	∆𝑌	PRON
fbem-14610	62	36	𝜀	𝜀	PROPN
fbem-14610	62	37	model	model	NOUN
fbem-14610	62	38	1	1	NUM
fbem-14610	62	39	does	do	AUX
fbem-14610	62	40	not	not	PART
fbem-14610	62	41	include	include	VERB
fbem-14610	62	42	any	any	DET
fbem-14610	62	43	deterministic	deterministic	ADJ
fbem-14610	62	44	trend	trend	NOUN
fbem-14610	62	45	;	;	PUNCT
fbem-14610	62	46	model	model	NOUN
fbem-14610	62	47	2	2	NUM
fbem-14610	62	48	includes	include	VERB
fbem-14610	62	49	only	only	ADV
fbem-14610	62	50	the	the	DET
fbem-14610	62	51	intercept	intercept	NOUN
fbem-14610	62	52	α	α	NOUN
fbem-14610	62	53	;	;	PUNCT
fbem-14610	62	54	model	model	NOUN
fbem-14610	62	55	3	3	NUM
fbem-14610	62	56	introduces	introduce	VERB
fbem-14610	62	57	the	the	DET
fbem-14610	62	58	variable	variable	ADJ
fbem-14610	62	59	t	t	PROPN
fbem-14610	62	60	as	as	ADP
fbem-14610	62	61	a	a	DET
fbem-14610	62	62	time	time	NOUN
fbem-14610	62	63	variable	variable	NOUN
fbem-14610	62	64	representing	represent	VERB
fbem-14610	62	65	some	some	DET
fbem-14610	62	66	trend	trend	NOUN
fbem-14610	62	67	in	in	ADP
fbem-14610	62	68	the	the	DET
fbem-14610	62	69	time	time	NOUN
fbem-14610	62	70	series	series	NOUN
fbem-14610	62	71	over	over	ADP
fbem-14610	62	72	time	time	NOUN
fbem-14610	62	73	,	,	PUNCT
fbem-14610	62	74	along	along	ADP
fbem-14610	62	75	with	with	ADP
fbem-14610	62	76	the	the	DET
fbem-14610	62	77	intercept	intercept	NOUN
fbem-14610	62	78	α	α	NOUN
fbem-14610	62	79	.	.	PUNCT
fbem-14610	63	1	this	this	DET
fbem-14610	63	2	model	model	NOUN
fbem-14610	63	3	aims	aim	VERB
fbem-14610	63	4	to	to	PART
fbem-14610	63	5	remove	remove	VERB
fbem-14610	63	6	all	all	DET
fbem-14610	63	7	deterministic	deterministic	ADJ
fbem-14610	63	8	trends	trend	NOUN
fbem-14610	63	9	from	from	ADP
fbem-14610	63	10	the	the	DET
fbem-14610	63	11	time	time	NOUN
fbem-14610	63	12	series	series	NOUN
fbem-14610	63	13	.	.	PUNCT
fbem-14610	64	1	all	all	DET
fbem-14610	64	2	three	three	NUM
fbem-14610	64	3	models	model	NOUN
fbem-14610	64	4	,	,	PUNCT
fbem-14610	64	5	model	model	NOUN
fbem-14610	64	6	1	1	NUM
fbem-14610	64	7	,	,	PUNCT
fbem-14610	64	8	model	model	NOUN
fbem-14610	64	9	2	2	NUM
fbem-14610	64	10	,	,	PUNCT
fbem-14610	64	11	and	and	CCONJ
fbem-14610	64	12	model	model	NOUN
fbem-14610	64	13	3	3	NUM
fbem-14610	64	14	,	,	PUNCT
fbem-14610	64	15	include	include	VERB
fbem-14610	64	16	lagged	lag	VERB
fbem-14610	64	17	terms	term	NOUN
fbem-14610	64	18	of	of	ADP
fbem-14610	64	19	∆𝑌	∆𝑌	PRON
fbem-14610	64	20	to	to	PART
fbem-14610	64	21	eliminate	eliminate	VERB
fbem-14610	64	22	serial	serial	ADJ
fbem-14610	64	23	correlation	correlation	NOUN
fbem-14610	64	24	in	in	ADP
fbem-14610	64	25	the	the	DET
fbem-14610	64	26	disturbance	disturbance	NOUN
fbem-14610	64	27	term	term	NOUN
fbem-14610	64	28	of	of	ADP
fbem-14610	64	29	the	the	DET
fbem-14610	64	30	model	model	NOUN
fbem-14610	64	31	when	when	SCONJ
fbem-14610	64	32	the	the	DET
fbem-14610	64	33	time	time	NOUN
fbem-14610	64	34	series	series	NOUN
fbem-14610	64	35	is	be	AUX
fbem-14610	64	36	generated	generate	VERB
fbem-14610	64	37	by	by	ADP
fbem-14610	64	38	higher	high	ADJ
fbem-14610	64	39	-	-	PUNCT
fbem-14610	64	40	order	order	NOUN
fbem-14610	64	41	autoregressive	autoregressive	ADJ
fbem-14610	64	42	processes	process	NOUN
fbem-14610	64	43	,	,	PUNCT
fbem-14610	64	44	ensuring	ensure	VERB
fbem-14610	64	45	88	88	NUM
fbem-14610	64	46	that	that	SCONJ
fbem-14610	64	47	the	the	DET
fbem-14610	64	48	disturbance	disturbance	NOUN
fbem-14610	64	49	term	term	NOUN
fbem-14610	64	50	is	be	AUX
fbem-14610	64	51	white	white	ADJ
fbem-14610	64	52	noise	noise	NOUN
fbem-14610	64	53	.	.	PUNCT
fbem-14610	65	1	the	the	DET
fbem-14610	65	2	null	null	ADJ
fbem-14610	65	3	hypothesis	hypothesis	NOUN
fbem-14610	65	4	(	(	PUNCT
fbem-14610	65	5	h0	h0	NOUN
fbem-14610	65	6	)	)	PUNCT
fbem-14610	65	7	of	of	ADP
fbem-14610	65	8	the	the	DET
fbem-14610	65	9	adf	adf	PROPN
fbem-14610	65	10	test	test	NOUN
fbem-14610	65	11	is	be	AUX
fbem-14610	65	12	δ=0	δ=0	PROPN
fbem-14610	65	13	.	.	PUNCT
fbem-14610	66	1	as	as	ADV
fbem-14610	66	2	long	long	ADV
fbem-14610	66	3	as	as	SCONJ
fbem-14610	66	4	the	the	DET
fbem-14610	66	5	test	test	NOUN
fbem-14610	66	6	result	result	NOUN
fbem-14610	66	7	of	of	ADP
fbem-14610	66	8	any	any	PRON
fbem-14610	66	9	of	of	ADP
fbem-14610	66	10	these	these	DET
fbem-14610	66	11	models	model	NOUN
fbem-14610	66	12	rejects	reject	VERB
fbem-14610	66	13	the	the	DET
fbem-14610	66	14	null	null	ADJ
fbem-14610	66	15	hypothesis	hypothesis	NOUN
fbem-14610	66	16	,	,	PUNCT
fbem-14610	66	17	it	it	PRON
fbem-14610	66	18	can	can	AUX
fbem-14610	66	19	be	be	AUX
fbem-14610	66	20	concluded	conclude	VERB
fbem-14610	66	21	that	that	SCONJ
fbem-14610	66	22	the	the	DET
fbem-14610	66	23	time	time	NOUN
fbem-14610	66	24	series	series	PROPN
fbem-14610	66	25	is	be	AUX
fbem-14610	66	26	stationary	stationary	ADJ
fbem-14610	66	27	.	.	PUNCT
fbem-14610	67	1	if	if	SCONJ
fbem-14610	67	2	none	none	NOUN
fbem-14610	67	3	of	of	ADP
fbem-14610	67	4	the	the	DET
fbem-14610	67	5	three	three	NUM
fbem-14610	67	6	models	model	NOUN
fbem-14610	67	7	rejects	reject	VERB
fbem-14610	67	8	the	the	DET
fbem-14610	67	9	null	null	ADJ
fbem-14610	67	10	hypothesis	hypothesis	NOUN
fbem-14610	67	11	,	,	PUNCT
fbem-14610	67	12	it	it	PRON
fbem-14610	67	13	is	be	AUX
fbem-14610	67	14	considered	consider	VERB
fbem-14610	67	15	that	that	SCONJ
fbem-14610	67	16	the	the	DET
fbem-14610	67	17	time	time	NOUN
fbem-14610	67	18	series	series	PROPN
fbem-14610	67	19	is	be	AUX
fbem-14610	67	20	nonstationary	nonstationary	ADJ
fbem-14610	67	21	.	.	PUNCT
fbem-14610	68	1	in	in	ADP
fbem-14610	68	2	other	other	ADJ
fbem-14610	68	3	words	word	NOUN
fbem-14610	68	4	,	,	PUNCT
fbem-14610	68	5	the	the	DET
fbem-14610	68	6	null	null	ADJ
fbem-14610	68	7	hypothesis	hypothesis	NOUN
fbem-14610	68	8	(	(	PUNCT
fbem-14610	68	9	h0	h0	PROPN
fbem-14610	68	10	)	)	PUNCT
fbem-14610	68	11	is	be	AUX
fbem-14610	68	12	that	that	SCONJ
fbem-14610	68	13	a	a	DET
fbem-14610	68	14	unit	unit	NOUN
fbem-14610	68	15	root	root	NOUN
fbem-14610	68	16	exists	exist	VERB
fbem-14610	68	17	.	.	PUNCT
fbem-14610	69	1	if	if	SCONJ
fbem-14610	69	2	the	the	DET
fbem-14610	69	3	obtained	obtain	VERB
fbem-14610	69	4	test	test	NOUN
fbem-14610	69	5	statistic	statistic	NOUN
fbem-14610	69	6	is	be	AUX
fbem-14610	69	7	below	below	ADP
fbem-14610	69	8	the	the	DET
fbem-14610	69	9	critical	critical	ADJ
fbem-14610	69	10	values	value	NOUN
fbem-14610	69	11	at	at	ADP
fbem-14610	69	12	three	three	NUM
fbem-14610	69	13	confidence	confidence	NOUN
fbem-14610	69	14	levels	level	NOUN
fbem-14610	69	15	(	(	PUNCT
fbem-14610	69	16	10	10	NUM
fbem-14610	69	17	%	%	NOUN
fbem-14610	69	18	,	,	PUNCT
fbem-14610	69	19	5	5	NUM
fbem-14610	69	20	%	%	NOUN
fbem-14610	69	21	,	,	PUNCT
fbem-14610	69	22	1	1	NUM
fbem-14610	69	23	%	%	NOUN
fbem-14610	69	24	)	)	PUNCT
fbem-14610	69	25	,	,	PUNCT
fbem-14610	69	26	there	there	PRON
fbem-14610	69	27	is	be	VERB
fbem-14610	69	28	a	a	DET
fbem-14610	69	29	(	(	PUNCT
fbem-14610	69	30	90	90	NUM
fbem-14610	69	31	%	%	NOUN
fbem-14610	69	32	,	,	PUNCT
fbem-14610	69	33	95	95	NUM
fbem-14610	69	34	%	%	NOUN
fbem-14610	69	35	,	,	PUNCT
fbem-14610	69	36	99	99	NUM
fbem-14610	69	37	%	%	NOUN
fbem-14610	69	38	)	)	PUNCT
fbem-14610	69	39	confidence	confidence	NOUN
fbem-14610	69	40	level	level	NOUN
fbem-14610	69	41	to	to	PART
fbem-14610	69	42	reject	reject	VERB
fbem-14610	69	43	the	the	DET
fbem-14610	69	44	null	null	ADJ
fbem-14610	69	45	hypothesis	hypothesis	NOUN
fbem-14610	69	46	.	.	PUNCT
fbem-14610	70	1	in	in	ADP
fbem-14610	70	2	the	the	DET
fbem-14610	70	3	subsequent	subsequent	ADJ
fbem-14610	70	4	adf	adf	PROPN
fbem-14610	70	5	test	test	NOUN
fbem-14610	70	6	used	use	VERB
fbem-14610	70	7	,	,	PUNCT
fbem-14610	70	8	the	the	DET
fbem-14610	70	9	basic	basic	ADJ
fbem-14610	70	10	assumption	assumption	NOUN
fbem-14610	70	11	is	be	AUX
fbem-14610	70	12	that	that	SCONJ
fbem-14610	70	13	the	the	DET
fbem-14610	70	14	hsi	hsi	PROPN
fbem-14610	70	15	daily	daily	ADJ
fbem-14610	70	16	return	return	NOUN
fbem-14610	70	17	time	time	NOUN
fbem-14610	70	18	series	series	NOUN
fbem-14610	70	19	and	and	CCONJ
fbem-14610	70	20	the	the	DET
fbem-14610	70	21	csi	csi	PROPN
fbem-14610	70	22	300	300	NUM
fbem-14610	70	23	daily	daily	ADJ
fbem-14610	70	24	return	return	NOUN
fbem-14610	70	25	time	time	NOUN
fbem-14610	70	26	series	series	PROPN
fbem-14610	70	27	are	be	AUX
fbem-14610	70	28	non	non	ADJ
fbem-14610	70	29	-	-	ADJ
fbem-14610	70	30	stationary	stationary	ADJ
fbem-14610	70	31	.	.	PUNCT
fbem-14610	71	1	when	when	SCONJ
fbem-14610	71	2	the	the	DET
fbem-14610	71	3	p	p	NOUN
fbem-14610	71	4	-	-	PUNCT
fbem-14610	71	5	value	value	NOUN
fbem-14610	71	6	is	be	AUX
fbem-14610	71	7	>	>	X
fbem-14610	71	8	0.05	0.05	NUM
fbem-14610	71	9	,	,	PUNCT
fbem-14610	71	10	the	the	DET
fbem-14610	71	11	null	null	ADJ
fbem-14610	71	12	hypothesis	hypothesis	NOUN
fbem-14610	71	13	is	be	AUX
fbem-14610	71	14	accepted	accept	VERB
fbem-14610	71	15	,	,	PUNCT
fbem-14610	71	16	and	and	CCONJ
fbem-14610	71	17	when	when	SCONJ
fbem-14610	71	18	the	the	DET
fbem-14610	71	19	p	p	NOUN
fbem-14610	71	20	-	-	PUNCT
fbem-14610	71	21	value	value	NOUN
fbem-14610	71	22	is	be	AUX
fbem-14610	71	23	<	<	X
fbem-14610	71	24	0.05	0.05	NUM
fbem-14610	71	25	,	,	PUNCT
fbem-14610	71	26	the	the	DET
fbem-14610	71	27	null	null	ADJ
fbem-14610	71	28	hypothesis	hypothesis	NOUN
fbem-14610	71	29	is	be	AUX
fbem-14610	71	30	rejected	reject	VERB
fbem-14610	71	31	.	.	PUNCT
fbem-14610	72	1	that	that	PRON
fbem-14610	72	2	is	be	AUX
fbem-14610	72	3	,	,	PUNCT
fbem-14610	72	4	the	the	DET
fbem-14610	72	5	hsi	hsi	PROPN
fbem-14610	72	6	daily	daily	ADJ
fbem-14610	72	7	return	return	NOUN
fbem-14610	72	8	time	time	NOUN
fbem-14610	72	9	series	series	NOUN
fbem-14610	72	10	and	and	CCONJ
fbem-14610	72	11	the	the	DET
fbem-14610	72	12	csi	csi	PROPN
fbem-14610	72	13	300	300	NUM
fbem-14610	72	14	daily	daily	ADJ
fbem-14610	72	15	return	return	NOUN
fbem-14610	72	16	time	time	NOUN
fbem-14610	72	17	series	series	PROPN
fbem-14610	72	18	are	be	AUX
fbem-14610	72	19	stationary	stationary	ADJ
fbem-14610	72	20	.	.	PUNCT
fbem-14610	73	1	the	the	DET
fbem-14610	73	2	stationarity	stationarity	NOUN
fbem-14610	73	3	of	of	ADP
fbem-14610	73	4	the	the	DET
fbem-14610	73	5	time	time	NOUN
fbem-14610	73	6	series	series	NOUN
fbem-14610	73	7	is	be	AUX
fbem-14610	73	8	a	a	DET
fbem-14610	73	9	prerequisite	prerequisite	NOUN
fbem-14610	73	10	for	for	ADP
fbem-14610	73	11	conducting	conduct	VERB
fbem-14610	73	12	the	the	DET
fbem-14610	73	13	granger	granger	PROPN
fbem-14610	73	14	test	test	NOUN
fbem-14610	73	15	.	.	PUNCT
fbem-14610	74	1	3.3	3.3	NUM
fbem-14610	74	2	.	.	PUNCT
fbem-14610	75	1	granger	granger	PROPN
fbem-14610	75	2	causality	causality	PROPN
fbem-14610	75	3	test	test	NOUN
fbem-14610	75	4	the	the	DET
fbem-14610	75	5	granger	granger	PROPN
fbem-14610	75	6	causality	causality	PROPN
fbem-14610	75	7	test	test	NOUN
fbem-14610	75	8	is	be	AUX
fbem-14610	75	9	a	a	DET
fbem-14610	75	10	method	method	NOUN
fbem-14610	75	11	used	use	VERB
fbem-14610	75	12	in	in	ADP
fbem-14610	75	13	econometrics	econometrics	NOUN
fbem-14610	75	14	and	and	CCONJ
fbem-14610	75	15	time	time	NOUN
fbem-14610	75	16	series	series	PROPN
fbem-14610	75	17	analysis	analysis	NOUN
fbem-14610	75	18	to	to	PART
fbem-14610	75	19	detect	detect	VERB
fbem-14610	75	20	causal	causal	ADJ
fbem-14610	75	21	relationships	relationship	NOUN
fbem-14610	75	22	.	.	PUNCT
fbem-14610	76	1	it	it	PRON
fbem-14610	76	2	assesses	assess	VERB
fbem-14610	76	3	whether	whether	SCONJ
fbem-14610	76	4	changes	change	NOUN
fbem-14610	76	5	in	in	ADP
fbem-14610	76	6	the	the	DET
fbem-14610	76	7	dependent	dependent	ADJ
fbem-14610	76	8	variable	variable	NOUN
fbem-14610	76	9	are	be	AUX
fbem-14610	76	10	influenced	influence	VERB
fbem-14610	76	11	by	by	ADP
fbem-14610	76	12	changes	change	NOUN
fbem-14610	76	13	in	in	ADP
fbem-14610	76	14	the	the	DET
fbem-14610	76	15	independent	independent	ADJ
fbem-14610	76	16	variable	variable	NOUN
fbem-14610	76	17	and	and	CCONJ
fbem-14610	76	18	quantifies	quantifie	NOUN
fbem-14610	76	19	the	the	DET
fbem-14610	76	20	magnitude	magnitude	NOUN
fbem-14610	76	21	of	of	ADP
fbem-14610	76	22	this	this	DET
fbem-14610	76	23	influence	influence	NOUN
fbem-14610	76	24	.	.	PUNCT
fbem-14610	77	1	the	the	DET
fbem-14610	77	2	test	test	NOUN
fbem-14610	77	3	examines	examine	VERB
fbem-14610	77	4	the	the	DET
fbem-14610	77	5	causal	causal	ADJ
fbem-14610	77	6	relationship	relationship	NOUN
fbem-14610	77	7	between	between	ADP
fbem-14610	77	8	two	two	NUM
fbem-14610	77	9	variables	variable	NOUN
fbem-14610	77	10	by	by	ADP
fbem-14610	77	11	comparing	compare	VERB
fbem-14610	77	12	their	their	PRON
fbem-14610	77	13	relationships	relationship	NOUN
fbem-14610	77	14	in	in	ADP
fbem-14610	77	15	different	different	ADJ
fbem-14610	77	16	time	time	NOUN
fbem-14610	77	17	periods	period	NOUN
fbem-14610	77	18	.	.	PUNCT
fbem-14610	78	1	a	a	DET
fbem-14610	78	2	prerequisite	prerequisite	NOUN
fbem-14610	78	3	for	for	ADP
fbem-14610	78	4	the	the	DET
fbem-14610	78	5	granger	granger	PROPN
fbem-14610	78	6	causality	causality	PROPN
fbem-14610	78	7	test	test	NOUN
fbem-14610	78	8	is	be	AUX
fbem-14610	78	9	that	that	SCONJ
fbem-14610	78	10	the	the	DET
fbem-14610	78	11	time	time	NOUN
fbem-14610	78	12	series	series	PROPN
fbem-14610	78	13	must	must	AUX
fbem-14610	78	14	be	be	AUX
fbem-14610	78	15	stationary	stationary	ADJ
fbem-14610	78	16	.	.	PUNCT
fbem-14610	79	1	basic	basic	ADJ
fbem-14610	79	2	principles	principle	NOUN
fbem-14610	79	3	:	:	PUNCT
fbem-14610	79	4	suppose	suppose	VERB
fbem-14610	79	5	there	there	PRON
fbem-14610	79	6	are	be	VERB
fbem-14610	79	7	two	two	NUM
fbem-14610	79	8	variables	variable	NOUN
fbem-14610	79	9	,	,	PUNCT
fbem-14610	79	10	𝑋	𝑋	NOUN
fbem-14610	79	11	and	and	CCONJ
fbem-14610	79	12	𝑌	𝑌	PROPN
fbem-14610	79	13	,	,	PUNCT
fbem-14610	79	14	in	in	ADP
fbem-14610	79	15	the	the	DET
fbem-14610	79	16	time	time	NOUN
fbem-14610	79	17	series	series	PROPN
fbem-14610	79	18	data	data	PROPN
fbem-14610	79	19	.	.	PUNCT
fbem-14610	80	1	consider	consider	VERB
fbem-14610	80	2	the	the	DET
fbem-14610	80	3	following	follow	VERB
fbem-14610	80	4	three	three	NUM
fbem-14610	80	5	situations	situation	NOUN
fbem-14610	80	6	:	:	PUNCT
fbem-14610	80	7	1	1	X
fbem-14610	80	8	.	.	X
fbem-14610	80	9	predicting	predict	VERB
fbem-14610	80	10	xt+1	xt+1	PROPN
fbem-14610	80	11	based	base	VERB
fbem-14610	80	12	on	on	ADP
fbem-14610	80	13	𝑋	𝑋	PROPN
fbem-14610	80	14	2	2	NUM
fbem-14610	80	15	.	.	PUNCT
fbem-14610	80	16	predicting	predict	VERB
fbem-14610	80	17	xt+1	xt+1	PROPN
fbem-14610	80	18	based	base	VERB
fbem-14610	80	19	on	on	ADP
fbem-14610	80	20	𝑋	𝑋	PROPN
fbem-14610	80	21	and	and	CCONJ
fbem-14610	80	22	𝑌	𝑌	PROPN
fbem-14610	80	23	3	3	NUM
fbem-14610	80	24	.	.	PUNCT
fbem-14610	80	25	predicting	predict	VERB
fbem-14610	80	26	xt+1	xt+1	PROPN
fbem-14610	80	27	based	base	VERB
fbem-14610	80	28	on	on	ADP
fbem-14610	80	29	𝑋	𝑋	PROPN
fbem-14610	80	30	,	,	PUNCT
fbem-14610	80	31	𝑌	𝑌	PROPN
fbem-14610	80	32	,	,	PUNCT
fbem-14610	80	33	and	and	CCONJ
fbem-14610	80	34	𝑊	𝑊	PROPN
fbem-14610	80	35	,	,	PUNCT
fbem-14610	80	36	where	where	SCONJ
fbem-14610	80	37	𝑌	𝑌	PROPN
fbem-14610	80	38	directly	directly	ADV
fbem-14610	80	39	depends	depend	VERB
fbem-14610	80	40	on	on	ADP
fbem-14610	80	41	𝑊	𝑊	PROPN
fbem-14610	80	42	situation	situation	NOUN
fbem-14610	80	43	1	1	NUM
fbem-14610	80	44	involves	involve	VERB
fbem-14610	80	45	a	a	DET
fbem-14610	80	46	univariate	univariate	ADJ
fbem-14610	80	47	autoregressive	autoregressive	ADJ
fbem-14610	80	48	model	model	NOUN
fbem-14610	80	49	,	,	PUNCT
fbem-14610	80	50	represented	represent	VERB
fbem-14610	80	51	mathematically	mathematically	ADV
fbem-14610	80	52	as	as	ADP
fbem-14610	80	53	:	:	PUNCT
fbem-14610	80	54	𝑋	𝑋	NOUN
fbem-14610	80	55	𝛼	𝛼	NOUN
fbem-14610	80	56	𝛾	𝛾	ADP
fbem-14610	80	57	𝑋	𝑋	PROPN
fbem-14610	80	58	𝛾	𝛾	ADP
fbem-14610	80	59	𝑋	𝑋	NOUN
fbem-14610	80	60	⋯	⋯	ADP
fbem-14610	80	61	𝛾	𝛾	ADP
fbem-14610	80	62	𝑋	𝑋	NOUN
fbem-14610	80	63	where	where	SCONJ
fbem-14610	80	64	p	p	NOUN
fbem-14610	80	65	is	be	AUX
fbem-14610	80	66	the	the	DET
fbem-14610	80	67	order	order	NOUN
fbem-14610	80	68	.	.	PUNCT
fbem-14610	81	1	in	in	ADP
fbem-14610	81	2	situation	situation	NOUN
fbem-14610	81	3	2	2	NUM
fbem-14610	81	4	,	,	PUNCT
fbem-14610	81	5	if	if	SCONJ
fbem-14610	81	6	the	the	DET
fbem-14610	81	7	data	datum	NOUN
fbem-14610	81	8	of	of	ADP
fbem-14610	81	9	y	y	PROPN
fbem-14610	81	10	contains	contain	VERB
fbem-14610	81	11	information	information	NOUN
fbem-14610	81	12	predicting	predict	VERB
fbem-14610	81	13	xt+1	xt+1	PROPN
fbem-14610	81	14	,	,	PUNCT
fbem-14610	81	15	then	then	ADV
fbem-14610	81	16	y	y	PROPN
fbem-14610	81	17	t	t	PROPN
fbem-14610	81	18	is	be	AUX
fbem-14610	81	19	considered	consider	VERB
fbem-14610	81	20	a	a	DET
fbem-14610	81	21	g	g	NOUN
fbem-14610	81	22	-	-	PUNCT
fbem-14610	81	23	cause	cause	NOUN
fbem-14610	81	24	for	for	ADP
fbem-14610	81	25	xt+1	xt+1	PROPN
fbem-14610	81	26	.	.	PUNCT
fbem-14610	82	1	the	the	DET
fbem-14610	82	2	mathematical	mathematical	ADJ
fbem-14610	82	3	model	model	NOUN
fbem-14610	82	4	is	be	AUX
fbem-14610	82	5	:	:	PUNCT
fbem-14610	82	6	𝑋	𝑋	NOUN
fbem-14610	82	7	𝛼	𝛼	NOUN
fbem-14610	82	8	𝛾	𝛾	ADP
fbem-14610	82	9	𝑋	𝑋	PROPN
fbem-14610	82	10	𝛾	𝛾	ADP
fbem-14610	82	11	𝑋	𝑋	NOUN
fbem-14610	82	12	⋯	⋯	ADP
fbem-14610	82	13	𝛾	𝛾	PROPN
fbem-14610	82	14	𝑋	𝑋	PROPN
fbem-14610	82	15	𝛼	𝛼	PROPN
fbem-14610	82	16	𝑌	𝑌	PROPN
fbem-14610	82	17	⋯	⋯	PROPN
fbem-14610	82	18	𝛼	𝛼	NOUN
fbem-14610	82	19	𝑌	𝑌	PROPN
fbem-14610	82	20	with	with	ADP
fbem-14610	82	21	2p	2p	NUM
fbem-14610	82	22	degrees	degree	NOUN
fbem-14610	82	23	of	of	ADP
fbem-14610	82	24	freedom	freedom	NOUN
fbem-14610	82	25	.	.	PUNCT
fbem-14610	83	1	if	if	SCONJ
fbem-14610	83	2	yt	yt	PROPN
fbem-14610	83	3	is	be	AUX
fbem-14610	83	4	a	a	DET
fbem-14610	83	5	g	g	NOUN
fbem-14610	83	6	-	-	PUNCT
fbem-14610	83	7	cause	cause	NOUN
fbem-14610	83	8	for	for	ADP
fbem-14610	83	9	xt	xt	NUM
fbem-14610	83	10	,	,	PUNCT
fbem-14610	83	11	it	it	PRON
fbem-14610	83	12	implies	imply	VERB
fbem-14610	83	13	that	that	SCONJ
fbem-14610	83	14	y	y	PROPN
fbem-14610	83	15	precedes	precede	VERB
fbem-14610	83	16	x	x	PRON
fbem-14610	83	17	,	,	PUNCT
fbem-14610	83	18	and	and	CCONJ
fbem-14610	83	19	:	:	PUNCT
fbem-14610	83	20	the	the	DET
fbem-14610	83	21	lagged	lag	VERB
fbem-14610	83	22	values	value	NOUN
fbem-14610	83	23	of	of	ADP
fbem-14610	83	24	y	y	PROPN
fbem-14610	83	25	should	should	AUX
fbem-14610	83	26	have	have	VERB
fbem-14610	83	27	a	a	DET
fbem-14610	83	28	statistically	statistically	ADV
fbem-14610	83	29	significant	significant	ADJ
fbem-14610	83	30	correlation	correlation	NOUN
fbem-14610	83	31	with	with	ADP
fbem-14610	83	32	the	the	DET
fbem-14610	83	33	values	value	NOUN
fbem-14610	83	34	of	of	ADP
fbem-14610	83	35	x	x	PUNCT
fbem-14610	83	36	at	at	ADP
fbem-14610	83	37	previous	previous	ADJ
fbem-14610	83	38	time	time	NOUN
fbem-14610	83	39	points	point	NOUN
fbem-14610	83	40	.	.	PUNCT
fbem-14610	84	1	the	the	DET
fbem-14610	84	2	lagged	lag	VERB
fbem-14610	84	3	values	value	NOUN
fbem-14610	84	4	of	of	ADP
fbem-14610	84	5	x	x	PRON
fbem-14610	84	6	should	should	AUX
fbem-14610	84	7	not	not	PART
fbem-14610	84	8	have	have	VERB
fbem-14610	84	9	a	a	DET
fbem-14610	84	10	statistically	statistically	ADV
fbem-14610	84	11	significant	significant	ADJ
fbem-14610	84	12	correlation	correlation	NOUN
fbem-14610	84	13	with	with	ADP
fbem-14610	84	14	the	the	DET
fbem-14610	84	15	values	value	NOUN
fbem-14610	84	16	of	of	ADP
fbem-14610	84	17	y.	y.	NOUN
fbem-14610	84	18	situation	situation	NOUN
fbem-14610	84	19	3	3	NUM
fbem-14610	84	20	is	be	AUX
fbem-14610	84	21	not	not	PART
fbem-14610	84	22	suitable	suitable	ADJ
fbem-14610	84	23	for	for	ADP
fbem-14610	84	24	discovering	discover	VERB
fbem-14610	84	25	granger	granger	NOUN
fbem-14610	84	26	causality	causality	NOUN
fbem-14610	84	27	because	because	SCONJ
fbem-14610	84	28	yt	yt	PROPN
fbem-14610	84	29	is	be	AUX
fbem-14610	84	30	influenced	influence	VERB
fbem-14610	84	31	by	by	ADP
fbem-14610	84	32	wt	wt	PROPN
fbem-14610	84	33	.	.	PROPN
fbem-14610	84	34	hypothesis	hypothesis	NOUN
fbem-14610	84	35	testing	testing	NOUN
fbem-14610	84	36	:	:	PUNCT
fbem-14610	84	37	null	null	ADJ
fbem-14610	84	38	hypothesis	hypothesis	NOUN
fbem-14610	84	39	:	:	PUNCT
fbem-14610	84	40	there	there	PRON
fbem-14610	84	41	is	be	VERB
fbem-14610	84	42	no	no	DET
fbem-14610	84	43	granger	granger	NOUN
fbem-14610	84	44	causality	causality	NOUN
fbem-14610	84	45	from	from	ADP
fbem-14610	84	46	yt	yt	PRON
fbem-14610	84	47	to	to	ADP
fbem-14610	84	48	x	x	PROPN
fbem-14610	84	49	t	t	PROPN
fbem-14610	84	50	+	+	CCONJ
fbem-14610	84	51	1	1	X
fbem-14610	84	52	.	.	X
fbem-14610	84	53	alternative	alternative	ADJ
fbem-14610	84	54	hypothesis	hypothesis	NOUN
fbem-14610	84	55	:	:	PUNCT
fbem-14610	84	56	there	there	PRON
fbem-14610	84	57	is	be	VERB
fbem-14610	84	58	granger	granger	PROPN
fbem-14610	84	59	causality	causality	NOUN
fbem-14610	84	60	from	from	ADP
fbem-14610	84	61	yt	yt	PRON
fbem-14610	84	62	to	to	ADP
fbem-14610	84	63	x	x	PROPN
fbem-14610	84	64	t	t	PROPN
fbem-14610	84	65	+	+	CCONJ
fbem-14610	84	66	1	1	NUM
fbem-14610	84	67	,	,	PUNCT
fbem-14610	84	68	or	or	CCONJ
fbem-14610	84	69	at	at	ADV
fbem-14610	84	70	least	least	ADV
fbem-14610	84	71	one	one	NUM
fbem-14610	84	72	lagged	lag	VERB
fbem-14610	84	73	value	value	NOUN
fbem-14610	84	74	is	be	AUX
fbem-14610	84	75	statistically	statistically	ADV
fbem-14610	84	76	significant	significant	ADJ
fbem-14610	84	77	.	.	PUNCT
fbem-14610	85	1	the	the	DET
fbem-14610	85	2	granger	granger	PROPN
fbem-14610	85	3	causality	causality	PROPN
fbem-14610	85	4	test	test	NOUN
fbem-14610	85	5	only	only	ADV
fbem-14610	85	6	examines	examine	VERB
fbem-14610	85	7	the	the	DET
fbem-14610	85	8	relationship	relationship	NOUN
fbem-14610	85	9	between	between	ADP
fbem-14610	85	10	two	two	NUM
fbem-14610	85	11	variables	variable	NOUN
fbem-14610	85	12	,	,	PUNCT
fbem-14610	85	13	while	while	SCONJ
fbem-14610	85	14	real	real	ADJ
fbem-14610	85	15	dependency	dependency	NOUN
fbem-14610	85	16	relationships	relationship	NOUN
fbem-14610	85	17	often	often	ADV
fbem-14610	85	18	involve	involve	VERB
fbem-14610	85	19	multiple	multiple	ADJ
fbem-14610	85	20	variables	variable	NOUN
fbem-14610	85	21	.	.	PUNCT
fbem-14610	86	1	3.4	3.4	NUM
fbem-14610	86	2	.	.	PUNCT
fbem-14610	86	3	vector	vector	NOUN
fbem-14610	86	4	autoregressive	autoregressive	ADJ
fbem-14610	86	5	model	model	NOUN
fbem-14610	86	6	the	the	DET
fbem-14610	86	7	vector	vector	NOUN
fbem-14610	86	8	autoregressive	autoregressive	ADJ
fbem-14610	86	9	model	model	NOUN
fbem-14610	86	10	(	(	PUNCT
fbem-14610	86	11	var	var	NOUN
fbem-14610	86	12	model	model	NOUN
fbem-14610	86	13	)	)	PUNCT
fbem-14610	86	14	was	be	AUX
fbem-14610	86	15	introduced	introduce	VERB
fbem-14610	86	16	by	by	ADP
fbem-14610	86	17	sims	sim	NOUN
fbem-14610	86	18	(	(	PUNCT
fbem-14610	86	19	1980	1980	NUM
fbem-14610	86	20	)	)	PUNCT
fbem-14610	86	21	.	.	PUNCT
fbem-14610	87	1	this	this	DET
fbem-14610	87	2	model	model	NOUN
fbem-14610	87	3	adopts	adopt	VERB
fbem-14610	87	4	a	a	DET
fbem-14610	87	5	simultaneous	simultaneous	ADJ
fbem-14610	87	6	equation	equation	NOUN
fbem-14610	87	7	format	format	NOUN
fbem-14610	87	8	and	and	CCONJ
fbem-14610	87	9	is	be	AUX
fbem-14610	87	10	not	not	PART
fbem-14610	87	11	grounded	ground	VERB
fbem-14610	87	12	in	in	ADP
fbem-14610	87	13	economics	economic	NOUN
fbem-14610	87	14	.	.	PUNCT
fbem-14610	88	1	in	in	ADP
fbem-14610	88	2	each	each	DET
fbem-14610	88	3	equation	equation	NOUN
fbem-14610	88	4	of	of	ADP
fbem-14610	88	5	the	the	DET
fbem-14610	88	6	model	model	NOUN
fbem-14610	88	7	,	,	PUNCT
fbem-14610	88	8	the	the	DET
fbem-14610	88	9	endogenous	endogenous	ADJ
fbem-14610	88	10	variable	variable	NOUN
fbem-14610	88	11	regresses	regress	VERB
fbem-14610	88	12	on	on	ADP
fbem-14610	88	13	the	the	DET
fbem-14610	88	14	lagged	lag	VERB
fbem-14610	88	15	terms	term	NOUN
fbem-14610	88	16	of	of	ADP
fbem-14610	88	17	all	all	DET
fbem-14610	88	18	endogenous	endogenous	ADJ
fbem-14610	88	19	variables	variable	NOUN
fbem-14610	88	20	in	in	ADP
fbem-14610	88	21	the	the	DET
fbem-14610	88	22	model	model	NOUN
fbem-14610	88	23	.	.	PUNCT
fbem-14610	89	1	this	this	PRON
fbem-14610	89	2	allows	allow	VERB
fbem-14610	89	3	the	the	DET
fbem-14610	89	4	estimation	estimation	NOUN
fbem-14610	89	5	of	of	ADP
fbem-14610	89	6	the	the	DET
fbem-14610	89	7	dynamic	dynamic	ADJ
fbem-14610	89	8	relationships	relationship	NOUN
fbem-14610	89	9	among	among	ADP
fbem-14610	89	10	all	all	DET
fbem-14610	89	11	endogenous	endogenous	ADJ
fbem-14610	89	12	variables	variable	NOUN
fbem-14610	89	13	.	.	PUNCT
fbem-14610	90	1	the	the	DET
fbem-14610	90	2	var	var	NOUN
fbem-14610	90	3	model	model	NOUN
fbem-14610	90	4	is	be	AUX
fbem-14610	90	5	commonly	commonly	ADV
fbem-14610	90	6	used	use	VERB
fbem-14610	90	7	to	to	PART
fbem-14610	90	8	forecast	forecast	VERB
fbem-14610	90	9	interconnected	interconnected	ADJ
fbem-14610	90	10	time	time	NOUN
fbem-14610	90	11	series	series	PROPN
fbem-14610	90	12	systems	system	NOUN
fbem-14610	90	13	and	and	CCONJ
fbem-14610	90	14	analyze	analyze	VERB
fbem-14610	90	15	the	the	DET
fbem-14610	90	16	dynamic	dynamic	ADJ
fbem-14610	90	17	impacts	impact	NOUN
fbem-14610	90	18	of	of	ADP
fbem-14610	90	19	random	random	ADJ
fbem-14610	90	20	disturbances	disturbance	NOUN
fbem-14610	90	21	on	on	ADP
fbem-14610	90	22	variable	variable	ADJ
fbem-14610	90	23	systems	system	NOUN
fbem-14610	90	24	.	.	PUNCT
fbem-14610	91	1	assuming	assume	VERB
fbem-14610	91	2	there	there	PRON
fbem-14610	91	3	is	be	VERB
fbem-14610	91	4	a	a	DET
fbem-14610	91	5	relationship	relationship	NOUN
fbem-14610	91	6	between	between	ADP
fbem-14610	91	7	𝑦	𝑦	NOUN
fbem-14610	91	8	,	,	PUNCT
fbem-14610	91	9	and	and	CCONJ
fbem-14610	91	10	𝑦	𝑦	NOUN
fbem-14610	91	11	,	,	PUNCT
fbem-14610	91	12	,	,	PUNCT
fbem-14610	91	13	if	if	SCONJ
fbem-14610	91	14	two	two	NUM
fbem-14610	91	15	separate	separate	ADJ
fbem-14610	91	16	autoregressive	autoregressive	ADJ
fbem-14610	91	17	models	model	NOUN
fbem-14610	91	18	are	be	AUX
fbem-14610	91	19	constructed	construct	VERB
fbem-14610	91	20	for	for	ADP
fbem-14610	91	21	each	each	PRON
fbem-14610	91	22	,	,	PUNCT
fbem-14610	91	23	the	the	DET
fbem-14610	91	24	relationship	relationship	NOUN
fbem-14610	91	25	between	between	ADP
fbem-14610	91	26	the	the	DET
fbem-14610	91	27	two	two	NUM
fbem-14610	91	28	variables	variable	NOUN
fbem-14610	91	29	can	can	AUX
fbem-14610	91	30	not	not	PART
fbem-14610	91	31	be	be	AUX
fbem-14610	91	32	captured	capture	VERB
fbem-14610	91	33	.	.	PUNCT
fbem-14610	92	1	by	by	ADP
fbem-14610	92	2	adopting	adopt	VERB
fbem-14610	92	3	a	a	DET
fbem-14610	92	4	simultaneous	simultaneous	ADJ
fbem-14610	92	5	equation	equation	NOUN
fbem-14610	92	6	format	format	NOUN
fbem-14610	92	7	,	,	PUNCT
fbem-14610	92	8	the	the	DET
fbem-14610	92	9	relationship	relationship	NOUN
fbem-14610	92	10	between	between	ADP
fbem-14610	92	11	the	the	DET
fbem-14610	92	12	two	two	NUM
fbem-14610	92	13	variables	variable	NOUN
fbem-14610	92	14	can	can	AUX
fbem-14610	92	15	be	be	AUX
fbem-14610	92	16	established	establish	VERB
fbem-14610	92	17	.	.	PUNCT
fbem-14610	93	1	the	the	DET
fbem-14610	93	2	structure	structure	NOUN
fbem-14610	93	3	of	of	ADP
fbem-14610	93	4	the	the	DET
fbem-14610	93	5	var	var	NOUN
fbem-14610	93	6	model	model	NOUN
fbem-14610	93	7	is	be	AUX
fbem-14610	93	8	determined	determine	VERB
fbem-14610	93	9	by	by	ADP
fbem-14610	93	10	two	two	NUM
fbem-14610	93	11	parameters	parameter	NOUN
fbem-14610	93	12	:	:	PUNCT
fbem-14610	93	13	the	the	DET
fbem-14610	93	14	number	number	NOUN
fbem-14610	93	15	of	of	ADP
fbem-14610	93	16	variables	variable	NOUN
fbem-14610	93	17	n	n	CCONJ
fbem-14610	93	18	and	and	CCONJ
fbem-14610	93	19	the	the	DET
fbem-14610	93	20	maximum	maximum	ADJ
fbem-14610	93	21	lag	lag	NOUN
fbem-14610	93	22	order	order	NOUN
fbem-14610	93	23	k.	k.	NOUN
fbem-14610	93	24	taking	take	VERB
fbem-14610	93	25	the	the	DET
fbem-14610	93	26	example	example	NOUN
fbem-14610	93	27	of	of	ADP
fbem-14610	93	28	a	a	DET
fbem-14610	93	29	var	var	NOUN
fbem-14610	93	30	model	model	NOUN
fbem-14610	93	31	with	with	ADP
fbem-14610	93	32	a	a	DET
fbem-14610	93	33	lag	lag	NOUN
fbem-14610	93	34	of	of	ADP
fbem-14610	93	35	1	1	NUM
fbem-14610	93	36	for	for	ADP
fbem-14610	93	37	two	two	NUM
fbem-14610	93	38	variables	variable	NOUN
fbem-14610	93	39	,	,	PUNCT
fbem-14610	93	40	𝑦	𝑦	NOUN
fbem-14610	93	41	,	,	PUNCT
fbem-14610	93	42	and	and	CCONJ
fbem-14610	93	43	𝑦	𝑦	NOUN
fbem-14610	93	44	,	,	PUNCT
fbem-14610	93	45	:	:	PUNCT
fbem-14610	93	46	𝑦	𝑦	NOUN
fbem-14610	93	47	,	,	PUNCT
fbem-14610	93	48	𝜇	𝜇	ADP
fbem-14610	93	49	𝜋	𝜋	NOUN
fbem-14610	93	50	.	.	PUNCT
fbem-14610	94	1	𝑦	𝑦	X
fbem-14610	94	2	,	,	PUNCT
fbem-14610	94	3	𝜋	𝜋	NOUN
fbem-14610	94	4	.	.	PUNCT
fbem-14610	95	1	𝑦	𝑦	X
fbem-14610	95	2	,	,	PUNCT
fbem-14610	95	3	𝑢	𝑢	PROPN
fbem-14610	95	4	𝑦	𝑦	NOUN
fbem-14610	95	5	,	,	PUNCT
fbem-14610	95	6	𝜇	𝜇	X
fbem-14610	95	7	𝜋	𝜋	NOUN
fbem-14610	95	8	.	.	PUNCT
fbem-14610	96	1	𝑦	𝑦	X
fbem-14610	96	2	,	,	PUNCT
fbem-14610	96	3	𝜋	𝜋	NOUN
fbem-14610	96	4	.	.	PUNCT
fbem-14610	97	1	𝑦	𝑦	NUM
fbem-14610	97	2	,	,	PUNCT
fbem-14610	97	3	𝑢	𝑢	PROPN
fbem-14610	97	4	,	,	PUNCT
fbem-14610	97	5	above	above	ADP
fbem-14610	97	6	𝑢	𝑢	PRON
fbem-14610	97	7	,	,	PUNCT
fbem-14610	97	8	𝑢	𝑢	NOUN
fbem-14610	97	9	~𝛪𝛪𝐷	~𝛪𝛪𝐷	NOUN
fbem-14610	97	10	0	0	NUM
fbem-14610	97	11	,	,	PUNCT
fbem-14610	97	12	𝜎	𝜎	NOUN
fbem-14610	97	13	,	,	PUNCT
fbem-14610	97	14	𝐶𝑜𝑣	𝐶𝑜𝑣	VERB
fbem-14610	97	15	𝑢	𝑢	PRON
fbem-14610	97	16	,	,	PUNCT
fbem-14610	97	17	𝑢	𝑢	PROPN
fbem-14610	97	18	0	0	NUM
fbem-14610	97	19	.	.	PUNCT
fbem-14610	98	1	written	write	VERB
fbem-14610	98	2	in	in	ADP
fbem-14610	98	3	matrix	matrix	NOUN
fbem-14610	98	4	form	form	NOUN
fbem-14610	98	5	is	be	AUX
fbem-14610	98	6	:	:	PUNCT
fbem-14610	98	7	𝑦	𝑦	NUM
fbem-14610	98	8	𝑦	𝑦	X
fbem-14610	98	9	𝜇	𝜇	X
fbem-14610	98	10	𝜇	𝜇	ADP
fbem-14610	98	11	𝜋	𝜋	NOUN
fbem-14610	98	12	.	.	PUNCT
fbem-14610	99	1	𝜋	𝜋	NOUN
fbem-14610	99	2	.	.	PUNCT
fbem-14610	100	1	𝜋	𝜋	NOUN
fbem-14610	100	2	.	.	PUNCT
fbem-14610	101	1	𝜋	𝜋	NOUN
fbem-14610	101	2	.	.	PUNCT
fbem-14610	102	1	𝑦	𝑦	PRON
fbem-14610	102	2	,	,	PUNCT
fbem-14610	102	3	𝑦	𝑦	PRON
fbem-14610	102	4	,	,	PUNCT
fbem-14610	102	5	𝑢	𝑢	PRON
fbem-14610	102	6	𝑢	𝑢	ADP
fbem-14610	102	7	|	|	ADV
fbem-14610	102	8	hypothesis	hypothesis	NOUN
fbem-14610	102	9	,	,	PUNCT
fbem-14610	102	10	𝑌	𝑌	PROPN
fbem-14610	102	11	𝑦	𝑦	PROPN
fbem-14610	102	12	𝑦	𝑦	NOUN
fbem-14610	102	13	,	,	PUNCT
fbem-14610	102	14	𝜇	𝜇	X
fbem-14610	102	15	𝜇	𝜇	X
fbem-14610	102	16	𝜇	𝜇	X
fbem-14610	102	17	,	,	PUNCT
fbem-14610	102	18	𝛱	𝛱	PROPN
fbem-14610	102	19	𝜋	𝜋	NOUN
fbem-14610	102	20	.	.	PUNCT
fbem-14610	103	1	𝜋	𝜋	X
fbem-14610	103	2	.	.	PUNCT
fbem-14610	104	1	𝜋	𝜋	NOUN
fbem-14610	104	2	.	.	PUNCT
fbem-14610	105	1	𝜋	𝜋	X
fbem-14610	105	2	.	.	PUNCT
fbem-14610	106	1	,	,	PUNCT
fbem-14610	106	2	𝑢	𝑢	X
fbem-14610	106	3	𝑢	𝑢	X
fbem-14610	106	4	𝑢	𝑢	X
fbem-14610	106	5	thus	thus	ADV
fbem-14610	106	6	,	,	PUNCT
fbem-14610	106	7	the	the	DET
fbem-14610	106	8	var	var	NOUN
fbem-14610	106	9	model	model	NOUN
fbem-14610	106	10	with	with	ADP
fbem-14610	106	11	a	a	DET
fbem-14610	106	12	lag	lag	NOUN
fbem-14610	106	13	of	of	ADP
fbem-14610	106	14	k	k	PROPN
fbem-14610	106	15	periods	period	NOUN
fbem-14610	106	16	for	for	ADP
fbem-14610	106	17	n	n	PRON
fbem-14610	106	18	variables	variable	NOUN
fbem-14610	106	19	is	be	AUX
fbem-14610	106	20	represented	represent	VERB
fbem-14610	106	21	as	as	SCONJ
fbem-14610	106	22	follows	follow	VERB
fbem-14610	106	23	:	:	PUNCT
fbem-14610	106	24	𝑌	𝑌	PROPN
fbem-14610	106	25	𝜇	𝜇	ADP
fbem-14610	106	26	𝛱	𝛱	PROPN
fbem-14610	106	27	𝑌	𝑌	PROPN
fbem-14610	106	28	𝛱	𝛱	PROPN
fbem-14610	106	29	𝑌	𝑌	PROPN
fbem-14610	106	30	⋯	⋯	ADP
fbem-14610	106	31	𝛱	𝛱	PROPN
fbem-14610	106	32	𝑌	𝑌	PROPN
fbem-14610	106	33	𝑢	𝑢	NOUN
fbem-14610	106	34	,	,	PUNCT
fbem-14610	106	35	𝑢	𝑢	X
fbem-14610	106	36	~	~	PUNCT
fbem-14610	106	37	𝛪𝛪𝐷	𝛪𝛪𝐷	PROPN
fbem-14610	106	38	0	0	NUM
fbem-14610	106	39	,	,	PUNCT
fbem-14610	106	40	𝛺	𝛺	ADP
fbem-14610	106	41	in	in	ADP
fbem-14610	106	42	this	this	DET
fbem-14610	106	43	formula	formula	NOUN
fbem-14610	106	44	,	,	PUNCT
fbem-14610	106	45	𝑌	𝑌	PROPN
fbem-14610	106	46	𝑦	𝑦	PRON
fbem-14610	106	47	,	,	PUNCT
fbem-14610	106	48	𝑦	𝑦	NOUN
fbem-14610	106	49	,	,	PUNCT
fbem-14610	106	50	…	…	PUNCT
fbem-14610	106	51	𝑦	𝑦	NOUN
fbem-14610	106	52	,	,	PUNCT
fbem-14610	106	53	′	′	NOUN
fbem-14610	106	54	,	,	PUNCT
fbem-14610	106	55	𝜇	𝜇	X
fbem-14610	106	56	𝜇	𝜇	X
fbem-14610	106	57	𝜇	𝜇	X
fbem-14610	106	58	…	…	PUNCT
fbem-14610	106	59	𝜇	𝜇	X
fbem-14610	106	60	,	,	PUNCT
fbem-14610	106	61	𝑢	𝑢	X
fbem-14610	106	62	𝑢	𝑢	X
fbem-14610	106	63	𝑢	𝑢	X
fbem-14610	106	64	…	…	PUNCT
fbem-14610	106	65	𝑢	𝑢	NOUN
fbem-14610	106	66	,	,	PUNCT
fbem-14610	106	67	𝛱	𝛱	PROPN
fbem-14610	106	68	𝜋	𝜋	NOUN
fbem-14610	106	69	.	.	PUNCT
fbem-14610	107	1	𝜋	𝜋	X
fbem-14610	107	2	.	.	PUNCT
fbem-14610	108	1	⋯	⋯	NOUN
fbem-14610	108	2	𝜋	𝜋	NOUN
fbem-14610	108	3	.	.	PUNCT
fbem-14610	109	1	𝜋	𝜋	X
fbem-14610	109	2	.	.	PUNCT
fbem-14610	110	1	𝜋	𝜋	NOUN
fbem-14610	110	2	.	.	PUNCT
fbem-14610	111	1	⋮	⋮	NOUN
fbem-14610	111	2	⋱	⋱	PUNCT
fbem-14610	112	1	𝜋	𝜋	X
fbem-14610	112	2	.	.	PUNCT
fbem-14610	113	1	⋮	⋮	NOUN
fbem-14610	113	2	𝜋	𝜋	PRON
fbem-14610	113	3	.	.	PUNCT
fbem-14610	114	1	𝜋	𝜋	X
fbem-14610	114	2	.	.	PUNCT
fbem-14610	115	1	⋯	⋯	VERB
fbem-14610	115	2	𝜋	𝜋	PROPN
fbem-14610	115	3	.	.	PUNCT
fbem-14610	115	4	,	,	PUNCT
fbem-14610	115	5	𝑗	𝑗	PROPN
fbem-14610	115	6	1,2,3	1,2,3	NUM
fbem-14610	115	7	,	,	PUNCT
fbem-14610	115	8	…	…	PUNCT
fbem-14610	115	9	.	.	PUNCT
fbem-14610	116	1	,	,	PUNCT
fbem-14610	116	2	𝑘	𝑘	X
fbem-14610	116	3	where	where	SCONJ
fbem-14610	116	4	𝑌	𝑌	PROPN
fbem-14610	116	5	is	be	AUX
fbem-14610	116	6	an	an	DET
fbem-14610	116	7	n×1	n×1	NOUN
fbem-14610	116	8	order	order	NOUN
fbem-14610	116	9	time	time	NOUN
fbem-14610	116	10	series	series	PROPN
fbem-14610	116	11	column	column	PROPN
fbem-14610	116	12	vector	vector	PROPN
fbem-14610	116	13	,	,	PUNCT
fbem-14610	116	14	μ	μ	PROPN
fbem-14610	116	15	is	be	AUX
fbem-14610	116	16	an	an	DET
fbem-14610	116	17	n×1	n×1	NOUN
fbem-14610	116	18	order	order	NOUN
fbem-14610	116	19	constant	constant	ADJ
fbem-14610	116	20	term	term	NOUN
fbem-14610	116	21	column	column	NOUN
fbem-14610	116	22	vector	vector	NOUN
fbem-14610	116	23	,	,	PUNCT
fbem-14610	116	24	π1,	π1,	NOUN
fbem-14610	116	25	…	…	PUNCT
fbem-14610	116	26	,πk	,πk	PUNCT
fbem-14610	116	27	are	be	AUX
fbem-14610	116	28	n×n	n×n	PROPN
fbem-14610	116	29	order	order	NOUN
fbem-14610	116	30	parameter	parameter	NOUN
fbem-14610	116	31	matrices	matrix	NOUN
fbem-14610	116	32	,	,	PUNCT
fbem-14610	116	33	and	and	CCONJ
fbem-14610	116	34	𝑢	𝑢	PRON
fbem-14610	116	35	∼	∼	NOUN
fbem-14610	116	36	iid	iid	NOUN
fbem-14610	116	37	0	0	NUM
fbem-14610	116	38	,	,	PUNCT
fbem-14610	116	39	ω	ω	PROPN
fbem-14610	116	40	is	be	AUX
fbem-14610	116	41	an	an	DET
fbem-14610	116	42	n×1	n×1	NOUN
fbem-14610	116	43	order	order	NOUN
fbem-14610	116	44	vector	vector	NOUN
fbem-14610	116	45	of	of	ADP
fbem-14610	116	46	random	random	ADJ
fbem-14610	116	47	errors	error	NOUN
fbem-14610	116	48	.	.	PUNCT
fbem-14610	117	1	each	each	DET
fbem-14610	117	2	element	element	NOUN
fbem-14610	117	3	is	be	AUX
fbem-14610	117	4	nonautocorrelated	nonautocorrelate	VERB
fbem-14610	117	5	,	,	PUNCT
fbem-14610	117	6	but	but	CCONJ
fbem-14610	117	7	there	there	PRON
fbem-14610	117	8	may	may	AUX
fbem-14610	117	9	be	be	AUX
fbem-14610	117	10	correlations	correlation	NOUN
fbem-14610	117	11	between	between	ADP
fbem-14610	117	12	the	the	DET
fbem-14610	117	13	random	random	ADJ
fbem-14610	117	14	error	error	NOUN
fbem-14610	117	15	terms	term	NOUN
fbem-14610	117	16	corresponding	correspond	VERB
fbem-14610	117	17	to	to	ADP
fbem-14610	117	18	different	different	ADJ
fbem-14610	117	19	equations	equation	NOUN
fbem-14610	117	20	.	.	PUNCT
fbem-14610	118	1	since	since	SCONJ
fbem-14610	118	2	each	each	DET
fbem-14610	118	3	equation	equation	NOUN
fbem-14610	118	4	in	in	ADP
fbem-14610	118	5	the	the	DET
fbem-14610	118	6	var	var	NOUN
fbem-14610	118	7	model	model	NOUN
fbem-14610	118	8	only	only	ADV
fbem-14610	118	9	includes	include	VERB
fbem-14610	118	10	lagged	lag	VERB
fbem-14610	118	11	terms	term	NOUN
fbem-14610	118	12	of	of	ADP
fbem-14610	118	13	endogenous	endogenous	ADJ
fbem-14610	118	14	variables	variable	NOUN
fbem-14610	118	15	on	on	ADP
fbem-14610	118	16	the	the	DET
fbem-14610	118	17	right	right	ADJ
fbem-14610	118	18	-	-	PUNCT
fbem-14610	118	19	hand	hand	NOUN
fbem-14610	118	20	side	side	NOUN
fbem-14610	118	21	,	,	PUNCT
fbem-14610	118	22	it	it	PRON
fbem-14610	118	23	is	be	AUX
fbem-14610	118	24	uncorrelated	uncorrelate	VERB
fbem-14610	118	25	with	with	ADP
fbem-14610	118	26	𝑢	𝑢	PRON
fbem-14610	118	27	.	.	PUNCT
fbem-14610	119	1	the	the	DET
fbem-14610	119	2	ordinary	ordinary	ADJ
fbem-14610	119	3	least	least	ADJ
fbem-14610	119	4	squares	square	NOUN
fbem-14610	119	5	(	(	PUNCT
fbem-14610	119	6	ols	ol	NOUN
fbem-14610	119	7	)	)	PUNCT
fbem-14610	119	8	method	method	NOUN
fbem-14610	119	9	can	can	AUX
fbem-14610	119	10	be	be	AUX
fbem-14610	119	11	employed	employ	VERB
fbem-14610	119	12	to	to	PART
fbem-14610	119	13	sequentially	sequentially	ADV
fbem-14610	119	14	estimate	estimate	VERB
fbem-14610	119	15	each	each	DET
fbem-14610	119	16	equation	equation	NOUN
fbem-14610	119	17	,	,	PUNCT
fbem-14610	119	18	and	and	CCONJ
fbem-14610	119	19	the	the	DET
fbem-14610	119	20	resulting	result	VERB
fbem-14610	119	21	parameter	parameter	NOUN
fbem-14610	119	22	estimates	estimate	NOUN
fbem-14610	119	23	are	be	AUX
fbem-14610	119	24	consistently	consistently	ADV
fbem-14610	119	25	obtained	obtain	VERB
fbem-14610	119	26	.	.	PUNCT
fbem-14610	120	1	4	4	X
fbem-14610	120	2	.	.	NOUN
fbem-14610	120	3	empirical	empirical	ADJ
fbem-14610	120	4	analysis	analysis	NOUN
fbem-14610	120	5	4.1	4.1	NUM
fbem-14610	120	6	.	.	PUNCT
fbem-14610	121	1	variables	variable	NOUN
fbem-14610	121	2	and	and	CCONJ
fbem-14610	121	3	hypothesis	hypothesis	NOUN
fbem-14610	121	4	based	base	VERB
fbem-14610	121	5	on	on	ADP
fbem-14610	121	6	previous	previous	ADJ
fbem-14610	121	7	studies	study	NOUN
fbem-14610	121	8	by	by	ADP
fbem-14610	121	9	scholars	scholar	NOUN
fbem-14610	121	10	,	,	PUNCT
fbem-14610	121	11	within	within	ADP
fbem-14610	121	12	the	the	DET
fbem-14610	121	13	context	context	NOUN
fbem-14610	121	14	of	of	ADP
fbem-14610	121	15	the	the	DET
fbem-14610	121	16	development	development	NOUN
fbem-14610	121	17	of	of	ADP
fbem-14610	121	18	economic	economic	ADJ
fbem-14610	121	19	globalization	globalization	NOUN
fbem-14610	121	20	,	,	PUNCT
fbem-14610	121	21	the	the	DET
fbem-14610	121	22	mainland	mainland	NOUN
fbem-14610	121	23	and	and	CCONJ
fbem-14610	121	24	hong	hong	PROPN
fbem-14610	121	25	kong	kong	PROPN
fbem-14610	121	26	stock	stock	NOUN
fbem-14610	121	27	markets	market	NOUN
fbem-14610	121	28	have	have	VERB
fbem-14610	121	29	close	close	ADJ
fbem-14610	121	30	relationships	relationship	NOUN
fbem-14610	121	31	,	,	PUNCT
fbem-14610	121	32	and	and	CCONJ
fbem-14610	121	33	capital	capital	NOUN
fbem-14610	121	34	flows	flow	VERB
fbem-14610	121	35	frequently	frequently	ADV
fbem-14610	121	36	.	.	PUNCT
fbem-14610	122	1	with	with	ADP
fbem-14610	122	2	the	the	DET
fbem-14610	122	3	successive	successive	ADJ
fbem-14610	122	4	opening	opening	NOUN
fbem-14610	122	5	of	of	ADP
fbem-14610	122	6	the	the	DET
fbem-14610	122	7	shanghai	shanghai	PROPN
fbem-14610	122	8	-	-	PUNCT
fbem-14610	122	9	hong	hong	PROPN
fbem-14610	122	10	kong	kong	PROPN
fbem-14610	122	11	stock	stock	PROPN
fbem-14610	122	12	connect	connect	PROPN
fbem-14610	122	13	and	and	CCONJ
fbem-14610	122	14	shenzhen	shenzhen	PROPN
fbem-14610	122	15	-	-	PUNCT
fbem-14610	122	16	hong	hong	PROPN
fbem-14610	122	17	kong	kong	PROPN
fbem-14610	122	18	stock	stock	PROPN
fbem-14610	122	19	connect	connect	PROPN
fbem-14610	122	20	,	,	PUNCT
fbem-14610	122	21	the	the	DET
fbem-14610	122	22	contagion	contagion	NOUN
fbem-14610	122	23	between	between	ADP
fbem-14610	122	24	the	the	DET
fbem-14610	122	25	two	two	NUM
fbem-14610	122	26	stock	stock	NOUN
fbem-14610	122	27	markets	market	NOUN
fbem-14610	122	28	has	have	AUX
fbem-14610	122	29	strengthened	strengthen	VERB
fbem-14610	122	30	.	.	PUNCT
fbem-14610	123	1	in	in	ADP
fbem-14610	123	2	light	light	NOUN
fbem-14610	123	3	of	of	ADP
fbem-14610	123	4	this	this	PRON
fbem-14610	123	5	,	,	PUNCT
fbem-14610	123	6	the	the	DET
fbem-14610	123	7	following	follow	VERB
fbem-14610	123	8	89	89	NUM
fbem-14610	123	9	hypotheses	hypothesis	NOUN
fbem-14610	123	10	are	be	AUX
fbem-14610	123	11	proposed	propose	VERB
fbem-14610	123	12	:	:	PUNCT
fbem-14610	123	13	hypothesis	hypothesis	NOUN
fbem-14610	123	14	1	1	NUM
fbem-14610	123	15	:	:	PUNCT
fbem-14610	123	16	there	there	PRON
fbem-14610	123	17	is	be	VERB
fbem-14610	123	18	no	no	DET
fbem-14610	123	19	granger	granger	PROPN
fbem-14610	123	20	causality	causality	NOUN
fbem-14610	123	21	relationship	relationship	NOUN
fbem-14610	123	22	from	from	ADP
fbem-14610	123	23	the	the	DET
fbem-14610	123	24	hong	hong	PROPN
fbem-14610	123	25	kong	kong	PROPN
fbem-14610	123	26	stock	stock	NOUN
fbem-14610	123	27	market	market	NOUN
fbem-14610	123	28	to	to	ADP
fbem-14610	123	29	the	the	DET
fbem-14610	123	30	mainland	mainland	NOUN
fbem-14610	123	31	stock	stock	NOUN
fbem-14610	123	32	market	market	NOUN
fbem-14610	123	33	.	.	PUNCT
fbem-14610	124	1	hypothesis	hypothesis	NOUN
fbem-14610	124	2	2	2	NUM
fbem-14610	124	3	:	:	PUNCT
fbem-14610	124	4	there	there	PRON
fbem-14610	124	5	is	be	VERB
fbem-14610	124	6	a	a	DET
fbem-14610	124	7	granger	granger	PROPN
fbem-14610	124	8	causality	causality	NOUN
fbem-14610	124	9	relationship	relationship	NOUN
fbem-14610	124	10	from	from	ADP
fbem-14610	124	11	the	the	DET
fbem-14610	124	12	hong	hong	PROPN
fbem-14610	124	13	kong	kong	PROPN
fbem-14610	124	14	stock	stock	NOUN
fbem-14610	124	15	market	market	NOUN
fbem-14610	124	16	to	to	ADP
fbem-14610	124	17	the	the	DET
fbem-14610	124	18	mainland	mainland	NOUN
fbem-14610	124	19	stock	stock	NOUN
fbem-14610	124	20	market	market	NOUN
fbem-14610	124	21	.	.	PUNCT
fbem-14610	125	1	when	when	SCONJ
fbem-14610	125	2	the	the	DET
fbem-14610	125	3	p	p	NOUN
fbem-14610	125	4	-	-	PUNCT
fbem-14610	125	5	value	value	NOUN
fbem-14610	125	6	is	be	AUX
fbem-14610	125	7	greater	great	ADJ
fbem-14610	125	8	than	than	ADP
fbem-14610	125	9	0.05	0.05	NUM
fbem-14610	125	10	,	,	PUNCT
fbem-14610	125	11	it	it	PRON
fbem-14610	125	12	indicates	indicate	VERB
fbem-14610	125	13	that	that	SCONJ
fbem-14610	125	14	the	the	DET
fbem-14610	125	15	null	null	ADJ
fbem-14610	125	16	hypothesis	hypothesis	NOUN
fbem-14610	125	17	can	can	AUX
fbem-14610	125	18	not	not	PART
fbem-14610	125	19	be	be	AUX
fbem-14610	125	20	rejected	reject	VERB
fbem-14610	125	21	,	,	PUNCT
fbem-14610	125	22	thus	thus	ADV
fbem-14610	125	23	supporting	support	VERB
fbem-14610	125	24	hypothesis	hypothesis	NOUN
fbem-14610	125	25	1	1	NUM
fbem-14610	125	26	.	.	PUNCT
fbem-14610	125	27	when	when	SCONJ
fbem-14610	125	28	the	the	DET
fbem-14610	125	29	p	p	NOUN
fbem-14610	125	30	-	-	PUNCT
fbem-14610	125	31	value	value	NOUN
fbem-14610	125	32	is	be	AUX
fbem-14610	125	33	less	less	ADJ
fbem-14610	125	34	than	than	ADP
fbem-14610	125	35	0.05	0.05	NUM
fbem-14610	125	36	,	,	PUNCT
fbem-14610	125	37	the	the	DET
fbem-14610	125	38	null	null	ADJ
fbem-14610	125	39	hypothesis	hypothesis	NOUN
fbem-14610	125	40	can	can	AUX
fbem-14610	125	41	be	be	AUX
fbem-14610	125	42	rejected	reject	VERB
fbem-14610	125	43	,	,	PUNCT
fbem-14610	125	44	supporting	support	VERB
fbem-14610	125	45	hypothesis	hypothesis	NOUN
fbem-14610	125	46	2	2	NUM
fbem-14610	125	47	.	.	PUNCT
fbem-14610	126	1	the	the	DET
fbem-14610	126	2	selected	select	VERB
fbem-14610	126	3	variables	variable	NOUN
fbem-14610	126	4	in	in	ADP
fbem-14610	126	5	this	this	DET
fbem-14610	126	6	study	study	NOUN
fbem-14610	126	7	are	be	AUX
fbem-14610	126	8	the	the	DET
fbem-14610	126	9	daily	daily	ADJ
fbem-14610	126	10	closing	closing	NOUN
fbem-14610	126	11	prices	price	NOUN
fbem-14610	126	12	of	of	ADP
fbem-14610	126	13	the	the	DET
fbem-14610	126	14	csi	csi	ADJ
fbem-14610	126	15	300	300	NUM
fbem-14610	126	16	(	(	PUNCT
fbem-14610	126	17	representing	represent	VERB
fbem-14610	126	18	the	the	DET
fbem-14610	126	19	mainland	mainland	NOUN
fbem-14610	126	20	stock	stock	NOUN
fbem-14610	126	21	market	market	NOUN
fbem-14610	126	22	)	)	PUNCT
fbem-14610	126	23	and	and	CCONJ
fbem-14610	126	24	the	the	DET
fbem-14610	126	25	hsi	hsi	PROPN
fbem-14610	126	26	(	(	PUNCT
fbem-14610	126	27	representing	represent	VERB
fbem-14610	126	28	the	the	DET
fbem-14610	126	29	hong	hong	PROPN
fbem-14610	126	30	kong	kong	PROPN
fbem-14610	126	31	stock	stock	NOUN
fbem-14610	126	32	market	market	NOUN
fbem-14610	126	33	)	)	PUNCT
fbem-14610	126	34	.	.	PUNCT
fbem-14610	127	1	the	the	DET
fbem-14610	127	2	data	datum	NOUN
fbem-14610	127	3	are	be	AUX
fbem-14610	127	4	sourced	source	VERB
fbem-14610	127	5	from	from	ADP
fbem-14610	127	6	the	the	DET
fbem-14610	127	7	wind	wind	NOUN
fbem-14610	127	8	database	database	NOUN
fbem-14610	127	9	.	.	PUNCT
fbem-14610	128	1	the	the	DET
fbem-14610	128	2	research	research	NOUN
fbem-14610	128	3	period	period	NOUN
fbem-14610	128	4	is	be	AUX
fbem-14610	128	5	set	set	VERB
fbem-14610	128	6	from	from	ADP
fbem-14610	128	7	march	march	PROPN
fbem-14610	128	8	2	2	NUM
fbem-14610	128	9	,	,	PUNCT
fbem-14610	128	10	2020	2020	NUM
fbem-14610	128	11	,	,	PUNCT
fbem-14610	128	12	to	to	ADP
fbem-14610	128	13	december	december	PROPN
fbem-14610	128	14	30	30	NUM
fbem-14610	128	15	,	,	PUNCT
fbem-14610	128	16	2022	2022	NUM
fbem-14610	128	17	,	,	PUNCT
fbem-14610	128	18	focusing	focus	VERB
fbem-14610	128	19	on	on	ADP
fbem-14610	128	20	the	the	DET
fbem-14610	128	21	daily	daily	ADJ
fbem-14610	128	22	returns	return	NOUN
fbem-14610	128	23	between	between	ADP
fbem-14610	128	24	the	the	DET
fbem-14610	128	25	two	two	NUM
fbem-14610	128	26	stock	stock	NOUN
fbem-14610	128	27	markets	market	NOUN
fbem-14610	128	28	against	against	ADP
fbem-14610	128	29	the	the	DET
fbem-14610	128	30	backdrop	backdrop	NOUN
fbem-14610	128	31	of	of	ADP
fbem-14610	128	32	the	the	DET
fbem-14610	128	33	covid-19	covid-19	PROPN
fbem-14610	128	34	pandemic	pandemic	NOUN
fbem-14610	128	35	.	.	PUNCT
fbem-14610	129	1	due	due	ADP
fbem-14610	129	2	to	to	ADP
fbem-14610	129	3	slight	slight	ADJ
fbem-14610	129	4	differences	difference	NOUN
fbem-14610	129	5	in	in	ADP
fbem-14610	129	6	holidays	holiday	NOUN
fbem-14610	129	7	and	and	CCONJ
fbem-14610	129	8	customs	custom	NOUN
fbem-14610	129	9	between	between	ADP
fbem-14610	129	10	the	the	DET
fbem-14610	129	11	mainland	mainland	NOUN
fbem-14610	129	12	and	and	CCONJ
fbem-14610	129	13	hong	hong	PROPN
fbem-14610	129	14	kong	kong	PROPN
fbem-14610	129	15	,	,	PUNCT
fbem-14610	129	16	dates	date	VERB
fbem-14610	129	17	where	where	SCONJ
fbem-14610	129	18	the	the	DET
fbem-14610	129	19	mainland	mainland	NOUN
fbem-14610	129	20	market	market	NOUN
fbem-14610	129	21	was	be	AUX
fbem-14610	129	22	open	open	ADJ
fbem-14610	129	23	while	while	SCONJ
fbem-14610	129	24	hong	hong	PROPN
fbem-14610	129	25	kong	kong	PROPN
fbem-14610	129	26	was	be	AUX
fbem-14610	129	27	closed	close	VERB
fbem-14610	129	28	,	,	PUNCT
fbem-14610	129	29	and	and	CCONJ
fbem-14610	129	30	vice	vice	ADV
fbem-14610	129	31	versa	versa	ADV
fbem-14610	129	32	,	,	PUNCT
fbem-14610	129	33	were	be	AUX
fbem-14610	129	34	excluded	exclude	VERB
fbem-14610	129	35	.	.	PUNCT
fbem-14610	130	1	only	only	ADV
fbem-14610	130	2	dates	date	VERB
fbem-14610	130	3	where	where	SCONJ
fbem-14610	130	4	both	both	DET
fbem-14610	130	5	markets	market	NOUN
fbem-14610	130	6	traded	trade	VERB
fbem-14610	130	7	normally	normally	ADV
fbem-14610	130	8	were	be	AUX
fbem-14610	130	9	chosen	choose	VERB
fbem-14610	130	10	for	for	ADP
fbem-14610	130	11	the	the	DET
fbem-14610	130	12	analysis	analysis	NOUN
fbem-14610	130	13	.	.	PUNCT
fbem-14610	131	1	4.2	4.2	NUM
fbem-14610	131	2	.	.	PUNCT
fbem-14610	131	3	causality	causality	NOUN
fbem-14610	131	4	test	test	NOUN
fbem-14610	131	5	between	between	ADP
fbem-14610	131	6	chinese	chinese	ADJ
fbem-14610	131	7	mainland	mainland	NOUN
fbem-14610	131	8	ashare	ashare	NOUN
fbem-14610	131	9	market	market	NOUN
fbem-14610	131	10	and	and	CCONJ
fbem-14610	131	11	hong	hong	PROPN
fbem-14610	131	12	kong	kong	PROPN
fbem-14610	131	13	stock	stock	PROPN
fbem-14610	131	14	market	market	PROPN
fbem-14610	131	15	4.2.1	4.2.1	NUM
fbem-14610	131	16	.	.	PUNCT
fbem-14610	132	1	descriptive	descriptive	ADJ
fbem-14610	132	2	statistics	statistic	NOUN
fbem-14610	132	3	the	the	DET
fbem-14610	132	4	calculation	calculation	NOUN
fbem-14610	132	5	method	method	NOUN
fbem-14610	132	6	for	for	ADP
fbem-14610	132	7	daily	daily	ADJ
fbem-14610	132	8	stock	stock	NOUN
fbem-14610	132	9	index	index	NOUN
fbem-14610	132	10	returns	return	NOUN
fbem-14610	132	11	is	be	AUX
fbem-14610	132	12	as	as	SCONJ
fbem-14610	132	13	follows	follow	VERB
fbem-14610	132	14	:	:	PUNCT
fbem-14610	132	15	𝐷𝑎𝑖𝑙𝑦	𝐷𝑎𝑖𝑙𝑦	NOUN
fbem-14610	132	16	𝑟𝑒𝑡𝑢𝑟𝑛	𝑟𝑒𝑡𝑢𝑟𝑛	VERB
fbem-14610	132	17	𝐶𝑙𝑜𝑠𝑖𝑛𝑔	𝐶𝑙𝑜𝑠𝑖𝑛𝑔	PROPN
fbem-14610	132	18	𝑃𝑟𝑖𝑐𝑒	𝑃𝑟𝑖𝑐𝑒	PROPN
fbem-14610	132	19	𝑂𝑝𝑒𝑛𝑖𝑛𝑔	𝑂𝑝𝑒𝑛𝑖𝑛𝑔	PROPN
fbem-14610	132	20	𝑃𝑟𝑖𝑐𝑒	𝑃𝑟𝑖𝑐𝑒	PROPN
fbem-14610	132	21	𝑂𝑝𝑒𝑛𝑖𝑛𝑔	𝑂𝑝𝑒𝑛𝑖𝑛𝑔	PROPN
fbem-14610	132	22	𝑃𝑟𝑖𝑐𝑒	𝑃𝑟𝑖𝑐𝑒	PROPN
fbem-14610	132	23	∗	∗	VERB
fbem-14610	132	24	100	100	NUM
fbem-14610	132	25	%	%	NOUN
fbem-14610	132	26	during	during	ADP
fbem-14610	132	27	the	the	DET
fbem-14610	132	28	pandemic	pandemic	ADJ
fbem-14610	132	29	period	period	NOUN
fbem-14610	132	30	,	,	PUNCT
fbem-14610	132	31	statistical	statistical	ADJ
fbem-14610	132	32	analysis	analysis	NOUN
fbem-14610	132	33	of	of	ADP
fbem-14610	132	34	the	the	DET
fbem-14610	132	35	daily	daily	ADJ
fbem-14610	132	36	returns	return	NOUN
fbem-14610	132	37	of	of	ADP
fbem-14610	132	38	the	the	DET
fbem-14610	132	39	csi	csi	ADJ
fbem-14610	132	40	300	300	NUM
fbem-14610	132	41	and	and	CCONJ
fbem-14610	132	42	the	the	DET
fbem-14610	132	43	hsi	hsi	PROPN
fbem-14610	132	44	can	can	AUX
fbem-14610	132	45	be	be	AUX
fbem-14610	132	46	conducted	conduct	VERB
fbem-14610	132	47	using	use	VERB
fbem-14610	132	48	indicators	indicator	NOUN
fbem-14610	132	49	such	such	ADJ
fbem-14610	132	50	as	as	ADP
fbem-14610	132	51	the	the	DET
fbem-14610	132	52	mean	mean	ADJ
fbem-14610	132	53	,	,	PUNCT
fbem-14610	132	54	median	median	ADJ
fbem-14610	132	55	,	,	PUNCT
fbem-14610	132	56	maximum	maximum	ADJ
fbem-14610	132	57	,	,	PUNCT
fbem-14610	132	58	minimum	minimum	ADJ
fbem-14610	132	59	,	,	PUNCT
fbem-14610	132	60	and	and	CCONJ
fbem-14610	132	61	standard	standard	ADJ
fbem-14610	132	62	deviation	deviation	NOUN
fbem-14610	132	63	.	.	PUNCT
fbem-14610	133	1	this	this	PRON
fbem-14610	133	2	allows	allow	VERB
fbem-14610	133	3	for	for	ADP
fbem-14610	133	4	a	a	DET
fbem-14610	133	5	better	well	ADJ
fbem-14610	133	6	understanding	understanding	NOUN
fbem-14610	133	7	of	of	ADP
fbem-14610	133	8	the	the	DET
fbem-14610	133	9	market	market	NOUN
fbem-14610	133	10	's	's	PART
fbem-14610	133	11	trends	trend	NOUN
fbem-14610	133	12	,	,	PUNCT
fbem-14610	133	13	as	as	SCONJ
fbem-14610	133	14	shown	show	VERB
fbem-14610	133	15	in	in	ADP
fbem-14610	133	16	table	table	NOUN
fbem-14610	133	17	1	1	NUM
fbem-14610	133	18	.	.	PUNCT
fbem-14610	133	19	table	table	NOUN
fbem-14610	133	20	1	1	NUM
fbem-14610	133	21	.	.	PUNCT
fbem-14610	133	22	descriptive	descriptive	ADJ
fbem-14610	133	23	statistics	statistic	NOUN
fbem-14610	133	24	of	of	ADP
fbem-14610	133	25	the	the	DET
fbem-14610	133	26	csi	csi	ADJ
fbem-14610	133	27	300	300	NUM
fbem-14610	133	28	and	and	CCONJ
fbem-14610	133	29	the	the	DET
fbem-14610	133	30	hsi	hsi	PROPN
fbem-14610	133	31	during	during	ADP
fbem-14610	133	32	the	the	DET
fbem-14610	133	33	pandemic	pandemic	ADJ
fbem-14610	133	34	daily	daily	ADJ
fbem-14610	133	35	yield	yield	NOUN
fbem-14610	133	36	of	of	ADP
fbem-14610	133	37	hsi	hsi	PROPN
fbem-14610	133	38	csi	csi	PROPN
fbem-14610	133	39	300	300	NUM
fbem-14610	133	40	-	-	PUNCT
fbem-14610	133	41	day	day	NOUN
fbem-14610	133	42	yield	yield	NOUN
fbem-14610	133	43	statistics	statistic	NOUN
fbem-14610	133	44	691.0000	691.0000	NUM
fbem-14610	133	45	691.0000	691.0000	NUM
fbem-14610	133	46	average	average	ADJ
fbem-14610	133	47	-0.000720	-0.000720	NOUN
fbem-14610	133	48	0.000610	0.000610	NUM
fbem-14610	133	49	standard	standard	ADJ
fbem-14610	133	50	deviation	deviation	NOUN
fbem-14610	133	51	0.011811	0.011811	NUM
fbem-14610	133	52	0.011411	0.011411	NUM
fbem-14610	133	53	minimum	minimum	ADJ
fbem-14610	133	54	-0.044924	-0.044924	NOUN
fbem-14610	133	55	-0.047512	-0.047512	NOUN
fbem-14610	133	56	25	25	NUM
fbem-14610	133	57	%	%	NOUN
fbem-14610	133	58	quantile	quantile	ADJ
fbem-14610	133	59	-0.007093	-0.007093	NOUN
fbem-14610	133	60	-0.006045	-0.006045	ADJ
fbem-14610	133	61	50	50	NUM
fbem-14610	133	62	%	%	NOUN
fbem-14610	133	63	quantile	quantile	ADJ
fbem-14610	133	64	-0.001121	-0.001121	NOUN
fbem-14610	133	65	0.000447	0.000447	NUM
fbem-14610	133	66	75	75	NUM
fbem-14610	133	67	%	%	NOUN
fbem-14610	133	68	quantile	quantile	NOUN
fbem-14610	133	69	0.005797	0.005797	NUM
fbem-14610	133	70	0.006936	0.006936	NUM
fbem-14610	133	71	maximum	maximum	NOUN
fbem-14610	133	72	0.067213	0.067213	NUM
fbem-14610	133	73	0.045743	0.045743	NUM
fbem-14610	133	74	from	from	ADP
fbem-14610	133	75	the	the	DET
fbem-14610	133	76	basic	basic	ADJ
fbem-14610	133	77	statistics	statistic	NOUN
fbem-14610	133	78	of	of	ADP
fbem-14610	133	79	descriptive	descriptive	ADJ
fbem-14610	133	80	statistics	statistic	NOUN
fbem-14610	133	81	,	,	PUNCT
fbem-14610	133	82	for	for	ADP
fbem-14610	133	83	the	the	DET
fbem-14610	133	84	period	period	NOUN
fbem-14610	133	85	from	from	ADP
fbem-14610	133	86	february	february	PROPN
fbem-14610	133	87	3	3	NUM
fbem-14610	133	88	,	,	PUNCT
fbem-14610	133	89	2020	2020	NUM
fbem-14610	133	90	,	,	PUNCT
fbem-14610	133	91	to	to	ADP
fbem-14610	133	92	december	december	PROPN
fbem-14610	133	93	30	30	NUM
fbem-14610	133	94	,	,	PUNCT
fbem-14610	133	95	2022	2022	NUM
fbem-14610	133	96	,	,	PUNCT
fbem-14610	133	97	691	691	NUM
fbem-14610	133	98	data	datum	NOUN
fbem-14610	133	99	points	point	NOUN
fbem-14610	133	100	were	be	AUX
fbem-14610	133	101	selected	select	VERB
fbem-14610	133	102	for	for	ADP
fbem-14610	133	103	both	both	CCONJ
fbem-14610	133	104	the	the	DET
fbem-14610	133	105	daily	daily	ADJ
fbem-14610	133	106	returns	return	NOUN
fbem-14610	133	107	of	of	ADP
fbem-14610	133	108	the	the	DET
fbem-14610	133	109	hsi	hsi	PROPN
fbem-14610	133	110	and	and	CCONJ
fbem-14610	133	111	the	the	DET
fbem-14610	133	112	csi	csi	PROPN
fbem-14610	133	113	300	300	NUM
fbem-14610	133	114	,	,	PUNCT
fbem-14610	133	115	representing	represent	VERB
fbem-14610	133	116	the	the	DET
fbem-14610	133	117	mainland	mainland	NOUN
fbem-14610	133	118	stock	stock	NOUN
fbem-14610	133	119	market	market	NOUN
fbem-14610	133	120	.	.	PUNCT
fbem-14610	134	1	the	the	DET
fbem-14610	134	2	daily	daily	ADJ
fbem-14610	134	3	average	average	ADJ
fbem-14610	134	4	return	return	NOUN
fbem-14610	134	5	of	of	ADP
fbem-14610	134	6	the	the	DET
fbem-14610	134	7	csi	csi	ADJ
fbem-14610	134	8	300	300	NUM
fbem-14610	134	9	is	be	AUX
fbem-14610	134	10	slightly	slightly	ADV
fbem-14610	134	11	higher	high	ADJ
fbem-14610	134	12	than	than	ADP
fbem-14610	134	13	that	that	PRON
fbem-14610	134	14	of	of	ADP
fbem-14610	134	15	the	the	DET
fbem-14610	134	16	hsi	hsi	PROPN
fbem-14610	134	17	,	,	PUNCT
fbem-14610	134	18	and	and	CCONJ
fbem-14610	134	19	both	both	PRON
fbem-14610	134	20	are	be	AUX
fbem-14610	134	21	overall	overall	ADV
fbem-14610	134	22	positive	positive	ADJ
fbem-14610	134	23	.	.	PUNCT
fbem-14610	135	1	the	the	DET
fbem-14610	135	2	daily	daily	ADJ
fbem-14610	135	3	average	average	ADJ
fbem-14610	135	4	return	return	NOUN
fbem-14610	135	5	of	of	ADP
fbem-14610	135	6	the	the	DET
fbem-14610	135	7	hsi	hsi	PROPN
fbem-14610	135	8	,	,	PUNCT
fbem-14610	135	9	representing	represent	VERB
fbem-14610	135	10	hong	hong	PROPN
fbem-14610	135	11	kong	kong	PROPN
fbem-14610	135	12	,	,	PUNCT
fbem-14610	135	13	is	be	AUX
fbem-14610	135	14	in	in	ADP
fbem-14610	135	15	a	a	DET
fbem-14610	135	16	slightly	slightly	ADV
fbem-14610	135	17	negative	negative	ADJ
fbem-14610	135	18	state	state	NOUN
fbem-14610	135	19	.	.	PUNCT
fbem-14610	136	1	the	the	DET
fbem-14610	136	2	standard	standard	ADJ
fbem-14610	136	3	deviations	deviation	NOUN
fbem-14610	136	4	of	of	ADP
fbem-14610	136	5	the	the	DET
fbem-14610	136	6	two	two	NUM
fbem-14610	136	7	are	be	AUX
fbem-14610	136	8	similar	similar	ADJ
fbem-14610	136	9	,	,	PUNCT
fbem-14610	136	10	and	and	CCONJ
fbem-14610	136	11	the	the	DET
fbem-14610	136	12	25	25	NUM
fbem-14610	136	13	%	%	NOUN
fbem-14610	136	14	,	,	PUNCT
fbem-14610	136	15	50	50	NUM
fbem-14610	136	16	%	%	NOUN
fbem-14610	136	17	,	,	PUNCT
fbem-14610	136	18	and	and	CCONJ
fbem-14610	136	19	75	75	NUM
fbem-14610	136	20	%	%	NOUN
fbem-14610	136	21	quantiles	quantile	NOUN
fbem-14610	136	22	of	of	ADP
fbem-14610	136	23	the	the	DET
fbem-14610	136	24	daily	daily	ADJ
fbem-14610	136	25	returns	return	NOUN
fbem-14610	136	26	of	of	ADP
fbem-14610	136	27	the	the	DET
fbem-14610	136	28	csi	csi	ADJ
fbem-14610	136	29	300	300	NUM
fbem-14610	136	30	are	be	AUX
fbem-14610	136	31	slightly	slightly	ADV
fbem-14610	136	32	higher	high	ADJ
fbem-14610	136	33	than	than	ADP
fbem-14610	136	34	those	those	PRON
fbem-14610	136	35	of	of	ADP
fbem-14610	136	36	the	the	DET
fbem-14610	136	37	hsi	hsi	PROPN
fbem-14610	136	38	.	.	PUNCT
fbem-14610	137	1	next	next	ADV
fbem-14610	137	2	,	,	PUNCT
fbem-14610	137	3	the	the	DET
fbem-14610	137	4	daily	daily	ADJ
fbem-14610	137	5	closing	closing	NOUN
fbem-14610	137	6	prices	price	NOUN
fbem-14610	137	7	of	of	ADP
fbem-14610	137	8	the	the	DET
fbem-14610	137	9	csi	csi	ADJ
fbem-14610	137	10	300	300	NUM
fbem-14610	137	11	and	and	CCONJ
fbem-14610	137	12	the	the	DET
fbem-14610	137	13	hsi	hsi	PROPN
fbem-14610	137	14	will	will	AUX
fbem-14610	137	15	be	be	AUX
fbem-14610	137	16	plotted	plot	VERB
fbem-14610	137	17	for	for	ADP
fbem-14610	137	18	visual	visual	ADJ
fbem-14610	137	19	analysis	analysis	NOUN
fbem-14610	137	20	.	.	PUNCT
fbem-14610	138	1	figure	figure	NOUN
fbem-14610	138	2	1	1	NUM
fbem-14610	138	3	shows	show	VERB
fbem-14610	138	4	the	the	DET
fbem-14610	138	5	trend	trend	NOUN
fbem-14610	138	6	chart	chart	NOUN
fbem-14610	138	7	of	of	ADP
fbem-14610	138	8	the	the	DET
fbem-14610	138	9	closing	close	VERB
fbem-14610	138	10	prices	price	NOUN
fbem-14610	138	11	of	of	ADP
fbem-14610	138	12	the	the	DET
fbem-14610	138	13	csi	csi	ADJ
fbem-14610	138	14	300	300	NUM
fbem-14610	138	15	and	and	CCONJ
fbem-14610	138	16	the	the	DET
fbem-14610	138	17	hsi	hsi	PROPN
fbem-14610	138	18	from	from	ADP
fbem-14610	138	19	2010	2010	NUM
fbem-14610	138	20	to	to	ADP
fbem-14610	138	21	2019	2019	NUM
fbem-14610	138	22	.	.	PUNCT
fbem-14610	139	1	figure	figure	NOUN
fbem-14610	139	2	1	1	NUM
fbem-14610	139	3	.	.	PUNCT
fbem-14610	139	4	daily	daily	ADJ
fbem-14610	139	5	closing	closing	NOUN
fbem-14610	139	6	price	price	NOUN
fbem-14610	139	7	chart	chart	NOUN
fbem-14610	139	8	of	of	ADP
fbem-14610	139	9	the	the	DET
fbem-14610	139	10	hsi	hsi	PROPN
fbem-14610	139	11	and	and	CCONJ
fbem-14610	139	12	the	the	DET
fbem-14610	139	13	csi	csi	PROPN
fbem-14610	139	14	300	300	NUM
fbem-14610	139	15	from	from	ADP
fbem-14610	139	16	2010	2010	NUM
fbem-14610	139	17	to	to	ADP
fbem-14610	139	18	2019	2019	NUM
fbem-14610	139	19	from	from	ADP
fbem-14610	139	20	figure	figure	NOUN
fbem-14610	139	21	1	1	NUM
fbem-14610	139	22	,	,	PUNCT
fbem-14610	139	23	it	it	PRON
fbem-14610	139	24	can	can	AUX
fbem-14610	139	25	be	be	AUX
fbem-14610	139	26	observed	observe	VERB
fbem-14610	139	27	that	that	SCONJ
fbem-14610	139	28	from	from	ADP
fbem-14610	139	29	2010	2010	NUM
fbem-14610	139	30	to	to	ADP
fbem-14610	139	31	the	the	DET
fbem-14610	139	32	end	end	NOUN
fbem-14610	139	33	of	of	ADP
fbem-14610	139	34	2014	2014	NUM
fbem-14610	139	35	,	,	PUNCT
fbem-14610	139	36	the	the	DET
fbem-14610	139	37	trends	trend	NOUN
fbem-14610	139	38	of	of	ADP
fbem-14610	139	39	the	the	DET
fbem-14610	139	40	hsi	hsi	PROPN
fbem-14610	139	41	and	and	CCONJ
fbem-14610	139	42	the	the	DET
fbem-14610	139	43	csi	csi	PROPN
fbem-14610	139	44	300	300	NUM
fbem-14610	139	45	were	be	AUX
fbem-14610	139	46	similar	similar	ADJ
fbem-14610	139	47	.	.	PUNCT
fbem-14610	140	1	from	from	ADP
fbem-14610	140	2	the	the	DET
fbem-14610	140	3	end	end	NOUN
fbem-14610	140	4	of	of	ADP
fbem-14610	140	5	2014	2014	NUM
fbem-14610	140	6	to	to	ADP
fbem-14610	140	7	march	march	PROPN
fbem-14610	140	8	2016	2016	NUM
fbem-14610	140	9	,	,	PUNCT
fbem-14610	140	10	during	during	ADP
fbem-14610	140	11	the	the	DET
fbem-14610	140	12	period	period	NOUN
fbem-14610	140	13	when	when	SCONJ
fbem-14610	140	14	the	the	DET
fbem-14610	140	15	shanghai	shanghai	PROPN
fbem-14610	140	16	-	-	PUNCT
fbem-14610	140	17	hong	hong	PROPN
fbem-14610	140	18	kong	kong	PROPN
fbem-14610	140	19	stock	stock	PROPN
fbem-14610	140	20	connect	connect	PROPN
fbem-14610	140	21	and	and	CCONJ
fbem-14610	140	22	shenzhen	shenzhen	PROPN
fbem-14610	140	23	-	-	PUNCT
fbem-14610	140	24	hong	hong	PROPN
fbem-14610	140	25	kong	kong	PROPN
fbem-14610	140	26	stock	stock	PROPN
fbem-14610	140	27	connect	connect	NOUN
fbem-14610	140	28	were	be	AUX
fbem-14610	140	29	opened	open	VERB
fbem-14610	140	30	,	,	PUNCT
fbem-14610	140	31	the	the	DET
fbem-14610	140	32	csi	csi	PROPN
fbem-14610	140	33	300	300	NUM
fbem-14610	140	34	experienced	experience	VERB
fbem-14610	140	35	a	a	DET
fbem-14610	140	36	rapid	rapid	ADJ
fbem-14610	140	37	rise	rise	NOUN
fbem-14610	140	38	,	,	PUNCT
fbem-14610	140	39	with	with	ADP
fbem-14610	140	40	a	a	DET
fbem-14610	140	41	much	much	ADV
fbem-14610	140	42	larger	large	ADJ
fbem-14610	140	43	increase	increase	NOUN
fbem-14610	140	44	than	than	ADP
fbem-14610	140	45	the	the	DET
fbem-14610	140	46	hsi	hsi	PROPN
fbem-14610	140	47	.	.	PUNCT
fbem-14610	141	1	from	from	ADP
fbem-14610	141	2	2017	2017	NUM
fbem-14610	141	3	to	to	ADP
fbem-14610	141	4	2018	2018	NUM
fbem-14610	141	5	,	,	PUNCT
fbem-14610	141	6	the	the	DET
fbem-14610	141	7	csi	csi	PROPN
fbem-14610	141	8	300	300	NUM
fbem-14610	141	9	exhibited	exhibit	VERB
fbem-14610	141	10	a	a	DET
fbem-14610	141	11	stable	stable	ADJ
fbem-14610	141	12	upward	upward	ADJ
fbem-14610	141	13	trend	trend	NOUN
fbem-14610	141	14	,	,	PUNCT
fbem-14610	141	15	slightly	slightly	ADV
fbem-14610	141	16	smaller	small	ADJ
fbem-14610	141	17	than	than	ADP
fbem-14610	141	18	the	the	DET
fbem-14610	141	19	increase	increase	NOUN
fbem-14610	141	20	in	in	ADP
fbem-14610	141	21	the	the	DET
fbem-14610	141	22	hsi	hsi	PROPN
fbem-14610	141	23	.	.	PUNCT
fbem-14610	142	1	overall	overall	ADV
fbem-14610	142	2	,	,	PUNCT
fbem-14610	142	3	from	from	ADP
fbem-14610	142	4	90	90	NUM
fbem-14610	142	5	2010	2010	NUM
fbem-14610	142	6	to	to	ADP
fbem-14610	142	7	2019	2019	NUM
fbem-14610	142	8	,	,	PUNCT
fbem-14610	142	9	there	there	PRON
fbem-14610	142	10	was	be	VERB
fbem-14610	142	11	a	a	DET
fbem-14610	142	12	general	general	ADJ
fbem-14610	142	13	trend	trend	NOUN
fbem-14610	142	14	of	of	ADP
fbem-14610	142	15	rising	rise	VERB
fbem-14610	142	16	and	and	CCONJ
fbem-14610	142	17	falling	fall	VERB
fbem-14610	142	18	together	together	ADV
fbem-14610	142	19	.	.	PUNCT
fbem-14610	143	1	figure	figure	VERB
fbem-14610	143	2	2	2	NUM
fbem-14610	143	3	.	.	PUNCT
fbem-14610	143	4	daily	daily	ADJ
fbem-14610	143	5	closing	closing	NOUN
fbem-14610	143	6	price	price	NOUN
fbem-14610	143	7	chart	chart	NOUN
fbem-14610	143	8	of	of	ADP
fbem-14610	143	9	the	the	DET
fbem-14610	143	10	hsi	hsi	PROPN
fbem-14610	143	11	and	and	CCONJ
fbem-14610	143	12	the	the	DET
fbem-14610	143	13	csi	csi	PROPN
fbem-14610	143	14	300	300	NUM
fbem-14610	143	15	from	from	ADP
fbem-14610	143	16	2020	2020	NUM
fbem-14610	143	17	to	to	ADP
fbem-14610	143	18	2022	2022	NUM
fbem-14610	143	19	figure	figure	NOUN
fbem-14610	143	20	2	2	NUM
fbem-14610	143	21	depicts	depict	VERB
fbem-14610	143	22	the	the	DET
fbem-14610	143	23	closing	closing	NOUN
fbem-14610	143	24	price	price	NOUN
fbem-14610	143	25	trends	trend	NOUN
fbem-14610	143	26	of	of	ADP
fbem-14610	143	27	the	the	DET
fbem-14610	143	28	hsi	hsi	PROPN
fbem-14610	143	29	and	and	CCONJ
fbem-14610	143	30	the	the	DET
fbem-14610	143	31	csi	csi	PROPN
fbem-14610	143	32	300	300	NUM
fbem-14610	143	33	from	from	ADP
fbem-14610	143	34	the	the	DET
fbem-14610	143	35	beginning	beginning	NOUN
fbem-14610	143	36	of	of	ADP
fbem-14610	143	37	2020	2020	NUM
fbem-14610	143	38	to	to	ADP
fbem-14610	143	39	the	the	DET
fbem-14610	143	40	end	end	NOUN
fbem-14610	143	41	of	of	ADP
fbem-14610	143	42	2022	2022	NUM
fbem-14610	143	43	,	,	PUNCT
fbem-14610	143	44	representing	represent	VERB
fbem-14610	143	45	the	the	DET
fbem-14610	143	46	trends	trend	NOUN
fbem-14610	143	47	during	during	ADP
fbem-14610	143	48	the	the	DET
fbem-14610	143	49	covid-19	covid-19	PROPN
fbem-14610	143	50	pandemic	pandemic	NOUN
fbem-14610	143	51	.	.	PUNCT
fbem-14610	144	1	from	from	ADP
fbem-14610	144	2	the	the	DET
fbem-14610	144	3	chart	chart	NOUN
fbem-14610	144	4	,	,	PUNCT
fbem-14610	144	5	it	it	PRON
fbem-14610	144	6	is	be	AUX
fbem-14610	144	7	evident	evident	ADJ
fbem-14610	144	8	that	that	SCONJ
fbem-14610	144	9	in	in	ADP
fbem-14610	144	10	the	the	DET
fbem-14610	144	11	early	early	ADJ
fbem-14610	144	12	stages	stage	NOUN
fbem-14610	144	13	of	of	ADP
fbem-14610	144	14	the	the	DET
fbem-14610	144	15	pandemic	pandemic	NOUN
fbem-14610	144	16	,	,	PUNCT
fbem-14610	144	17	from	from	ADP
fbem-14610	144	18	january	january	PROPN
fbem-14610	144	19	to	to	ADP
fbem-14610	144	20	june	june	PROPN
fbem-14610	144	21	2020	2020	NUM
fbem-14610	144	22	,	,	PUNCT
fbem-14610	144	23	the	the	DET
fbem-14610	144	24	hsi	hsi	PROPN
fbem-14610	144	25	experienced	experience	VERB
fbem-14610	144	26	a	a	DET
fbem-14610	144	27	larger	large	ADJ
fbem-14610	144	28	decline	decline	NOUN
fbem-14610	144	29	compared	compare	VERB
fbem-14610	144	30	to	to	ADP
fbem-14610	144	31	the	the	DET
fbem-14610	144	32	csi	csi	PROPN
fbem-14610	144	33	300	300	NUM
fbem-14610	144	34	.	.	PUNCT
fbem-14610	145	1	starting	start	VERB
fbem-14610	145	2	from	from	ADP
fbem-14610	145	3	july	july	PROPN
fbem-14610	145	4	2020	2020	NUM
fbem-14610	145	5	,	,	PUNCT
fbem-14610	145	6	the	the	DET
fbem-14610	145	7	two	two	NUM
fbem-14610	145	8	indices	index	NOUN
fbem-14610	145	9	maintained	maintain	VERB
fbem-14610	145	10	similar	similar	ADJ
fbem-14610	145	11	fluctuations	fluctuation	NOUN
fbem-14610	145	12	,	,	PUNCT
fbem-14610	145	13	and	and	CCONJ
fbem-14610	145	14	there	there	PRON
fbem-14610	145	15	was	be	VERB
fbem-14610	145	16	a	a	DET
fbem-14610	145	17	strong	strong	ADJ
fbem-14610	145	18	correlation	correlation	NOUN
fbem-14610	145	19	in	in	ADP
fbem-14610	145	20	their	their	PRON
fbem-14610	145	21	closing	closing	NOUN
fbem-14610	145	22	price	price	NOUN
fbem-14610	145	23	trends	trend	NOUN
fbem-14610	145	24	.	.	PUNCT
fbem-14610	146	1	the	the	DET
fbem-14610	146	2	sequence	sequence	NOUN
fbem-14610	146	3	plot	plot	NOUN
fbem-14610	146	4	of	of	ADP
fbem-14610	146	5	daily	daily	ADJ
fbem-14610	146	6	returns	return	NOUN
fbem-14610	146	7	for	for	ADP
fbem-14610	146	8	the	the	DET
fbem-14610	146	9	stock	stock	NOUN
fbem-14610	146	10	indices	index	NOUN
fbem-14610	146	11	provides	provide	VERB
fbem-14610	146	12	further	further	ADJ
fbem-14610	146	13	insight	insight	NOUN
fbem-14610	146	14	into	into	ADP
fbem-14610	146	15	whether	whether	SCONJ
fbem-14610	146	16	there	there	PRON
fbem-14610	146	17	is	be	VERB
fbem-14610	146	18	clustering	cluster	VERB
fbem-14610	146	19	and	and	CCONJ
fbem-14610	146	20	a	a	DET
fbem-14610	146	21	trend	trend	NOUN
fbem-14610	146	22	of	of	ADP
fbem-14610	146	23	rising	rise	VERB
fbem-14610	146	24	and	and	CCONJ
fbem-14610	146	25	falling	fall	VERB
fbem-14610	146	26	together	together	ADV
fbem-14610	146	27	in	in	ADP
fbem-14610	146	28	the	the	DET
fbem-14610	146	29	daily	daily	ADJ
fbem-14610	146	30	returns	return	NOUN
fbem-14610	146	31	.	.	PUNCT
fbem-14610	147	1	the	the	DET
fbem-14610	147	2	daily	daily	ADJ
fbem-14610	147	3	return	return	NOUN
fbem-14610	147	4	series	series	NOUN
fbem-14610	147	5	for	for	ADP
fbem-14610	147	6	the	the	DET
fbem-14610	147	7	csi	csi	PROPN
fbem-14610	147	8	300	300	NUM
fbem-14610	147	9	and	and	CCONJ
fbem-14610	147	10	the	the	DET
fbem-14610	147	11	hsi	hsi	PROPN
fbem-14610	147	12	from	from	ADP
fbem-14610	147	13	2010	2010	NUM
fbem-14610	147	14	to	to	ADP
fbem-14610	147	15	the	the	DET
fbem-14610	147	16	outbreak	outbreak	NOUN
fbem-14610	147	17	of	of	ADP
fbem-14610	147	18	the	the	DET
fbem-14610	147	19	pandemic	pandemic	NOUN
fbem-14610	147	20	are	be	AUX
fbem-14610	147	21	illustrated	illustrate	VERB
fbem-14610	147	22	in	in	ADP
fbem-14610	147	23	figure	figure	NOUN
fbem-14610	147	24	3	3	NUM
fbem-14610	147	25	.	.	PUNCT
fbem-14610	147	26	figure	figure	NOUN
fbem-14610	147	27	3	3	NUM
fbem-14610	147	28	.	.	PUNCT
fbem-14610	147	29	daily	daily	PROPN
fbem-14610	147	30	return	return	PROPN
fbem-14610	147	31	series	series	PROPN
fbem-14610	147	32	chart	chart	NOUN
fbem-14610	147	33	of	of	ADP
fbem-14610	147	34	the	the	DET
fbem-14610	147	35	hsi	hsi	PROPN
fbem-14610	147	36	and	and	CCONJ
fbem-14610	147	37	the	the	DET
fbem-14610	147	38	csi	csi	PROPN
fbem-14610	147	39	300	300	NUM
fbem-14610	147	40	from	from	ADP
fbem-14610	147	41	2010	2010	NUM
fbem-14610	147	42	to	to	ADP
fbem-14610	147	43	2022	2022	NUM
fbem-14610	147	44	figure	figure	NOUN
fbem-14610	147	45	3	3	NUM
fbem-14610	147	46	displays	display	VERB
fbem-14610	147	47	the	the	DET
fbem-14610	147	48	time	time	NOUN
fbem-14610	147	49	series	series	PROPN
fbem-14610	147	50	plot	plot	NOUN
fbem-14610	147	51	of	of	ADP
fbem-14610	147	52	daily	daily	ADJ
fbem-14610	147	53	returns	return	NOUN
fbem-14610	147	54	for	for	ADP
fbem-14610	147	55	the	the	DET
fbem-14610	147	56	hsi	hsi	PROPN
fbem-14610	147	57	and	and	CCONJ
fbem-14610	147	58	the	the	DET
fbem-14610	147	59	csi	csi	PROPN
fbem-14610	147	60	300	300	NUM
fbem-14610	147	61	from	from	ADP
fbem-14610	147	62	2010	2010	NUM
fbem-14610	147	63	to	to	ADP
fbem-14610	147	64	december	december	PROPN
fbem-14610	147	65	2022	2022	NUM
fbem-14610	147	66	.	.	PUNCT
fbem-14610	148	1	the	the	DET
fbem-14610	148	2	orange	orange	PROPN
fbem-14610	148	3	line	line	NOUN
fbem-14610	148	4	represents	represent	VERB
fbem-14610	148	5	the	the	DET
fbem-14610	148	6	daily	daily	ADJ
fbem-14610	148	7	returns	return	NOUN
fbem-14610	148	8	of	of	ADP
fbem-14610	148	9	the	the	DET
fbem-14610	148	10	csi	csi	ADJ
fbem-14610	148	11	300	300	NUM
fbem-14610	148	12	,	,	PUNCT
fbem-14610	148	13	while	while	SCONJ
fbem-14610	148	14	the	the	DET
fbem-14610	148	15	blue	blue	ADJ
fbem-14610	148	16	line	line	NOUN
fbem-14610	148	17	represents	represent	VERB
fbem-14610	148	18	the	the	DET
fbem-14610	148	19	daily	daily	ADJ
fbem-14610	148	20	returns	return	NOUN
fbem-14610	148	21	of	of	ADP
fbem-14610	148	22	the	the	DET
fbem-14610	148	23	hsi	hsi	PROPN
fbem-14610	148	24	.	.	PUNCT
fbem-14610	149	1	the	the	DET
fbem-14610	149	2	chart	chart	NOUN
fbem-14610	149	3	illustrates	illustrate	VERB
fbem-14610	149	4	that	that	SCONJ
fbem-14610	149	5	,	,	PUNCT
fbem-14610	149	6	during	during	ADP
fbem-14610	149	7	the	the	DET
fbem-14610	149	8	period	period	NOUN
fbem-14610	149	9	from	from	ADP
fbem-14610	149	10	2010	2010	NUM
fbem-14610	149	11	to	to	ADP
fbem-14610	149	12	2022	2022	NUM
fbem-14610	149	13	,	,	PUNCT
fbem-14610	149	14	the	the	DET
fbem-14610	149	15	daily	daily	ADJ
fbem-14610	149	16	returns	return	NOUN
fbem-14610	149	17	of	of	ADP
fbem-14610	149	18	the	the	DET
fbem-14610	149	19	csi	csi	PROPN
fbem-14610	149	20	300	300	NUM
fbem-14610	149	21	exhibited	exhibit	VERB
fbem-14610	149	22	more	more	ADJ
fbem-14610	149	23	pronounced	pronounced	ADJ
fbem-14610	149	24	fluctuations	fluctuation	NOUN
fbem-14610	149	25	compared	compare	VERB
fbem-14610	149	26	to	to	ADP
fbem-14610	149	27	the	the	DET
fbem-14610	149	28	daily	daily	ADJ
fbem-14610	149	29	returns	return	NOUN
fbem-14610	149	30	of	of	ADP
fbem-14610	149	31	the	the	DET
fbem-14610	149	32	hsi	hsi	PROPN
fbem-14610	149	33	.	.	PUNCT
fbem-14610	150	1	91	91	NUM
fbem-14610	150	2	figure	figure	NOUN
fbem-14610	150	3	4	4	NUM
fbem-14610	150	4	.	.	NUM
fbem-14610	150	5	2010	2010	NUM
fbem-14610	150	6	hsi	hsi	PROPN
fbem-14610	150	7	and	and	CCONJ
fbem-14610	150	8	csi	csi	PROPN
fbem-14610	150	9	300	300	NUM
fbem-14610	150	10	daily	daily	ADJ
fbem-14610	150	11	return	return	NOUN
fbem-14610	150	12	series	series	NOUN
fbem-14610	150	13	chart	chart	PROPN
fbem-14610	150	14	before	before	ADP
fbem-14610	150	15	the	the	DET
fbem-14610	150	16	launch	launch	NOUN
fbem-14610	150	17	of	of	ADP
fbem-14610	150	18	shanghai	shanghai	PROPN
fbem-14610	150	19	-	-	PUNCT
fbem-14610	150	20	hong	hong	PROPN
fbem-14610	150	21	kong	kong	PROPN
fbem-14610	150	22	stock	stock	PROPN
fbem-14610	150	23	connect	connect	PROPN
fbem-14610	150	24	figure	figure	NOUN
fbem-14610	150	25	4	4	NUM
fbem-14610	150	26	illustrates	illustrate	VERB
fbem-14610	150	27	the	the	DET
fbem-14610	150	28	time	time	NOUN
fbem-14610	150	29	series	series	PROPN
fbem-14610	150	30	plot	plot	NOUN
fbem-14610	150	31	of	of	ADP
fbem-14610	150	32	daily	daily	ADJ
fbem-14610	150	33	returns	return	NOUN
fbem-14610	150	34	for	for	ADP
fbem-14610	150	35	the	the	DET
fbem-14610	150	36	hsi	hsi	PROPN
fbem-14610	150	37	and	and	CCONJ
fbem-14610	150	38	the	the	DET
fbem-14610	150	39	csi	csi	PROPN
fbem-14610	150	40	300	300	NUM
fbem-14610	150	41	from	from	ADP
fbem-14610	150	42	2010	2010	NUM
fbem-14610	150	43	to	to	ADP
fbem-14610	150	44	november	november	PROPN
fbem-14610	150	45	2014	2014	NUM
fbem-14610	150	46	.	.	PUNCT
fbem-14610	151	1	the	the	DET
fbem-14610	151	2	orange	orange	PROPN
fbem-14610	151	3	line	line	NOUN
fbem-14610	151	4	represents	represent	VERB
fbem-14610	151	5	the	the	DET
fbem-14610	151	6	daily	daily	ADJ
fbem-14610	151	7	returns	return	NOUN
fbem-14610	151	8	of	of	ADP
fbem-14610	151	9	the	the	DET
fbem-14610	151	10	csi	csi	ADJ
fbem-14610	151	11	300	300	NUM
fbem-14610	151	12	,	,	PUNCT
fbem-14610	151	13	while	while	SCONJ
fbem-14610	151	14	the	the	DET
fbem-14610	151	15	blue	blue	ADJ
fbem-14610	151	16	line	line	NOUN
fbem-14610	151	17	represents	represent	VERB
fbem-14610	151	18	the	the	DET
fbem-14610	151	19	daily	daily	ADJ
fbem-14610	151	20	returns	return	NOUN
fbem-14610	151	21	of	of	ADP
fbem-14610	151	22	the	the	DET
fbem-14610	151	23	hsi	hsi	PROPN
fbem-14610	151	24	.	.	PUNCT
fbem-14610	152	1	the	the	DET
fbem-14610	152	2	chart	chart	NOUN
fbem-14610	152	3	demonstrates	demonstrate	VERB
fbem-14610	152	4	that	that	SCONJ
fbem-14610	152	5	,	,	PUNCT
fbem-14610	152	6	during	during	ADP
fbem-14610	152	7	the	the	DET
fbem-14610	152	8	period	period	NOUN
fbem-14610	152	9	from	from	ADP
fbem-14610	152	10	2010	2010	NUM
fbem-14610	152	11	to	to	ADP
fbem-14610	152	12	2014	2014	NUM
fbem-14610	152	13	,	,	PUNCT
fbem-14610	152	14	the	the	DET
fbem-14610	152	15	daily	daily	ADJ
fbem-14610	152	16	returns	return	NOUN
fbem-14610	152	17	of	of	ADP
fbem-14610	152	18	the	the	DET
fbem-14610	152	19	csi	csi	PROPN
fbem-14610	152	20	300	300	NUM
fbem-14610	152	21	exhibited	exhibit	VERB
fbem-14610	152	22	more	more	ADJ
fbem-14610	152	23	pronounced	pronounced	ADJ
fbem-14610	152	24	fluctuations	fluctuation	NOUN
fbem-14610	152	25	compared	compare	VERB
fbem-14610	152	26	to	to	ADP
fbem-14610	152	27	the	the	DET
fbem-14610	152	28	daily	daily	ADJ
fbem-14610	152	29	returns	return	NOUN
fbem-14610	152	30	of	of	ADP
fbem-14610	152	31	the	the	DET
fbem-14610	152	32	hsi	hsi	PROPN
fbem-14610	152	33	.	.	PUNCT
fbem-14610	153	1	figure	figure	NOUN
fbem-14610	153	2	5	5	NUM
fbem-14610	153	3	.	.	PUNCT
fbem-14610	154	1	after	after	SCONJ
fbem-14610	154	2	the	the	DET
fbem-14610	154	3	launch	launch	NOUN
fbem-14610	154	4	of	of	ADP
fbem-14610	154	5	shanghai	shanghai	PROPN
fbem-14610	154	6	-	-	PUNCT
fbem-14610	154	7	hong	hong	PROPN
fbem-14610	154	8	kong	kong	PROPN
fbem-14610	154	9	stock	stock	PROPN
fbem-14610	154	10	connect	connect	VERB
fbem-14610	154	11	the	the	DET
fbem-14610	154	12	daily	daily	ADJ
fbem-14610	154	13	return	return	NOUN
fbem-14610	154	14	series	series	NOUN
fbem-14610	154	15	of	of	ADP
fbem-14610	154	16	the	the	DET
fbem-14610	154	17	hsi	hsi	PROPN
fbem-14610	154	18	and	and	CCONJ
fbem-14610	154	19	the	the	DET
fbem-14610	154	20	csi	csi	PROPN
fbem-14610	154	21	300	300	NUM
fbem-14610	154	22	before	before	ADP
fbem-14610	154	23	the	the	DET
fbem-14610	154	24	pandemic	pandemic	ADJ
fbem-14610	154	25	figure	figure	NOUN
fbem-14610	154	26	5	5	NUM
fbem-14610	154	27	illustrates	illustrate	VERB
fbem-14610	154	28	the	the	DET
fbem-14610	154	29	period	period	NOUN
fbem-14610	154	30	from	from	ADP
fbem-14610	154	31	november	november	PROPN
fbem-14610	154	32	2014	2014	NUM
fbem-14610	154	33	,	,	PUNCT
fbem-14610	154	34	when	when	SCONJ
fbem-14610	154	35	the	the	DET
fbem-14610	154	36	shanghai	shanghai	PROPN
fbem-14610	154	37	-	-	PUNCT
fbem-14610	154	38	hong	hong	PROPN
fbem-14610	154	39	kong	kong	PROPN
fbem-14610	154	40	stock	stock	PROPN
fbem-14610	154	41	connect	connect	NOUN
fbem-14610	154	42	was	be	AUX
fbem-14610	154	43	initiated	initiate	VERB
fbem-14610	154	44	,	,	PUNCT
fbem-14610	154	45	until	until	ADP
fbem-14610	154	46	the	the	DET
fbem-14610	154	47	opening	opening	NOUN
fbem-14610	154	48	of	of	ADP
fbem-14610	154	49	the	the	DET
fbem-14610	154	50	shenzhen	shenzhen	PROPN
fbem-14610	154	51	-	-	PUNCT
fbem-14610	154	52	hong	hong	PROPN
fbem-14610	154	53	kong	kong	PROPN
fbem-14610	154	54	stock	stock	PROPN
fbem-14610	154	55	connect	connect	NOUN
fbem-14610	154	56	in	in	ADP
fbem-14610	154	57	2016	2016	NUM
fbem-14610	154	58	.	.	PUNCT
fbem-14610	155	1	during	during	ADP
fbem-14610	155	2	this	this	DET
fbem-14610	155	3	period	period	NOUN
fbem-14610	155	4	,	,	PUNCT
fbem-14610	155	5	the	the	DET
fbem-14610	155	6	daily	daily	ADJ
fbem-14610	155	7	returns	return	NOUN
fbem-14610	155	8	of	of	ADP
fbem-14610	155	9	the	the	DET
fbem-14610	155	10	csi	csi	PROPN
fbem-14610	155	11	300	300	NUM
fbem-14610	155	12	exhibited	exhibit	VERB
fbem-14610	155	13	increased	increase	VERB
fbem-14610	155	14	volatility	volatility	NOUN
fbem-14610	155	15	compared	compare	VERB
fbem-14610	155	16	to	to	ADP
fbem-14610	155	17	the	the	DET
fbem-14610	155	18	preceding	precede	VERB
fbem-14610	155	19	period	period	NOUN
fbem-14610	155	20	,	,	PUNCT
fbem-14610	155	21	with	with	ADP
fbem-14610	155	22	a	a	DET
fbem-14610	155	23	range	range	NOUN
fbem-14610	155	24	of	of	ADP
fbem-14610	155	25	daily	daily	ADJ
fbem-14610	155	26	returns	return	NOUN
fbem-14610	155	27	between	between	ADP
fbem-14610	155	28	-0.06	-0.06	NUM
fbem-14610	155	29	and	and	CCONJ
fbem-14610	155	30	0.08	0.08	NUM
fbem-14610	155	31	.	.	PUNCT
fbem-14610	156	1	following	follow	VERB
fbem-14610	156	2	the	the	DET
fbem-14610	156	3	opening	opening	NOUN
fbem-14610	156	4	of	of	ADP
fbem-14610	156	5	the	the	DET
fbem-14610	156	6	shenzhen	shenzhen	PROPN
fbem-14610	156	7	-	-	PUNCT
fbem-14610	156	8	hong	hong	PROPN
fbem-14610	156	9	kong	kong	PROPN
fbem-14610	156	10	stock	stock	PROPN
fbem-14610	156	11	connect	connect	NOUN
fbem-14610	156	12	in	in	ADP
fbem-14610	156	13	december	december	PROPN
fbem-14610	156	14	2016	2016	NUM
fbem-14610	156	15	,	,	PUNCT
fbem-14610	156	16	the	the	DET
fbem-14610	156	17	volatility	volatility	NOUN
fbem-14610	156	18	of	of	ADP
fbem-14610	156	19	daily	daily	ADJ
fbem-14610	156	20	returns	return	NOUN
fbem-14610	156	21	for	for	ADP
fbem-14610	156	22	the	the	DET
fbem-14610	156	23	csi	csi	PROPN
fbem-14610	156	24	300	300	NUM
fbem-14610	156	25	gradually	gradually	ADV
fbem-14610	156	26	expanded	expand	VERB
fbem-14610	156	27	until	until	ADP
fbem-14610	156	28	the	the	DET
fbem-14610	156	29	pre	pre	ADJ
fbem-14610	156	30	-	-	ADJ
fbem-14610	156	31	pandemic	pandemic	ADJ
fbem-14610	156	32	period	period	NOUN
fbem-14610	156	33	.	.	PUNCT
fbem-14610	157	1	92	92	NUM
fbem-14610	157	2	figure	figure	NOUN
fbem-14610	157	3	6	6	NUM
fbem-14610	157	4	.	.	PUNCT
fbem-14610	158	1	chart	chart	NOUN
fbem-14610	158	2	of	of	ADP
fbem-14610	158	3	the	the	DET
fbem-14610	158	4	daily	daily	ADJ
fbem-14610	158	5	return	return	NOUN
fbem-14610	158	6	series	series	NOUN
fbem-14610	158	7	of	of	ADP
fbem-14610	158	8	the	the	DET
fbem-14610	158	9	hsi	hsi	PROPN
fbem-14610	158	10	and	and	CCONJ
fbem-14610	158	11	the	the	DET
fbem-14610	158	12	csi	csi	PROPN
fbem-14610	158	13	300	300	NUM
fbem-14610	158	14	during	during	ADP
fbem-14610	158	15	the	the	DET
fbem-14610	158	16	pandemic	pandemic	ADJ
fbem-14610	158	17	figure	figure	NOUN
fbem-14610	158	18	6	6	NUM
fbem-14610	158	19	depicts	depict	VERB
fbem-14610	158	20	the	the	DET
fbem-14610	158	21	daily	daily	ADJ
fbem-14610	158	22	return	return	NOUN
fbem-14610	158	23	series	series	NOUN
fbem-14610	158	24	of	of	ADP
fbem-14610	158	25	the	the	DET
fbem-14610	158	26	csi	csi	ADJ
fbem-14610	158	27	300	300	NUM
fbem-14610	158	28	and	and	CCONJ
fbem-14610	158	29	the	the	DET
fbem-14610	158	30	hsi	hsi	PROPN
fbem-14610	158	31	during	during	ADP
fbem-14610	158	32	the	the	DET
fbem-14610	158	33	pandemic	pandemic	ADJ
fbem-14610	158	34	period	period	NOUN
fbem-14610	158	35	.	.	PUNCT
fbem-14610	159	1	from	from	ADP
fbem-14610	159	2	figure	figure	NOUN
fbem-14610	159	3	6	6	NUM
fbem-14610	159	4	,	,	PUNCT
fbem-14610	159	5	it	it	PRON
fbem-14610	159	6	can	can	AUX
fbem-14610	159	7	be	be	AUX
fbem-14610	159	8	observed	observe	VERB
fbem-14610	159	9	that	that	SCONJ
fbem-14610	159	10	from	from	ADP
fbem-14610	159	11	december	december	PROPN
fbem-14610	159	12	2019	2019	NUM
fbem-14610	159	13	to	to	ADP
fbem-14610	159	14	december	december	PROPN
fbem-14610	159	15	2022	2022	NUM
fbem-14610	159	16	,	,	PUNCT
fbem-14610	159	17	the	the	DET
fbem-14610	159	18	trend	trend	NOUN
fbem-14610	159	19	of	of	ADP
fbem-14610	159	20	daily	daily	ADJ
fbem-14610	159	21	returns	return	NOUN
fbem-14610	159	22	for	for	ADP
fbem-14610	159	23	the	the	DET
fbem-14610	159	24	csi	csi	PROPN
fbem-14610	159	25	300	300	NUM
fbem-14610	159	26	closely	closely	ADV
fbem-14610	159	27	mirrored	mirror	VERB
fbem-14610	159	28	that	that	PRON
fbem-14610	159	29	of	of	ADP
fbem-14610	159	30	the	the	DET
fbem-14610	159	31	hsi	hsi	PROPN
fbem-14610	159	32	.	.	PUNCT
fbem-14610	160	1	the	the	DET
fbem-14610	160	2	volatility	volatility	NOUN
fbem-14610	160	3	of	of	ADP
fbem-14610	160	4	daily	daily	ADJ
fbem-14610	160	5	returns	return	NOUN
fbem-14610	160	6	for	for	ADP
fbem-14610	160	7	the	the	DET
fbem-14610	160	8	hsi	hsi	PROPN
fbem-14610	160	9	was	be	AUX
fbem-14610	160	10	slightly	slightly	ADV
fbem-14610	160	11	higher	high	ADJ
fbem-14610	160	12	than	than	ADP
fbem-14610	160	13	that	that	PRON
fbem-14610	160	14	of	of	ADP
fbem-14610	160	15	the	the	DET
fbem-14610	160	16	csi	csi	ADJ
fbem-14610	160	17	300	300	NUM
fbem-14610	160	18	.	.	PUNCT
fbem-14610	161	1	4.2.2	4.2.2	X
fbem-14610	161	2	.	.	PUNCT
fbem-14610	162	1	correlation	correlation	NOUN
fbem-14610	162	2	analysis	analysis	NOUN
fbem-14610	162	3	correlation	correlation	NOUN
fbem-14610	162	4	analysis	analysis	NOUN
fbem-14610	162	5	involves	involve	VERB
fbem-14610	162	6	examining	examine	VERB
fbem-14610	162	7	the	the	DET
fbem-14610	162	8	relationship	relationship	NOUN
fbem-14610	162	9	between	between	ADP
fbem-14610	162	10	two	two	NUM
fbem-14610	162	11	or	or	CCONJ
fbem-14610	162	12	more	more	ADJ
fbem-14610	162	13	variables	variable	NOUN
fbem-14610	162	14	to	to	PART
fbem-14610	162	15	measure	measure	VERB
fbem-14610	162	16	the	the	DET
fbem-14610	162	17	degree	degree	NOUN
fbem-14610	162	18	of	of	ADP
fbem-14610	162	19	association	association	NOUN
fbem-14610	162	20	between	between	ADP
fbem-14610	162	21	them	they	PRON
fbem-14610	162	22	.	.	PUNCT
fbem-14610	163	1	for	for	ADP
fbem-14610	163	2	correlation	correlation	NOUN
fbem-14610	163	3	analysis	analysis	NOUN
fbem-14610	163	4	to	to	PART
fbem-14610	163	5	take	take	VERB
fbem-14610	163	6	place	place	NOUN
fbem-14610	163	7	,	,	PUNCT
fbem-14610	163	8	there	there	PRON
fbem-14610	163	9	must	must	AUX
fbem-14610	163	10	be	be	AUX
fbem-14610	163	11	a	a	DET
fbem-14610	163	12	certain	certain	ADJ
fbem-14610	163	13	level	level	NOUN
fbem-14610	163	14	of	of	ADP
fbem-14610	163	15	connection	connection	NOUN
fbem-14610	163	16	or	or	CCONJ
fbem-14610	163	17	probability	probability	NOUN
fbem-14610	163	18	between	between	ADP
fbem-14610	163	19	the	the	DET
fbem-14610	163	20	elements	element	NOUN
fbem-14610	163	21	being	be	AUX
fbem-14610	163	22	studied	study	VERB
fbem-14610	163	23	.	.	PUNCT
fbem-14610	164	1	the	the	DET
fbem-14610	164	2	pearson	pearson	PROPN
fbem-14610	164	3	correlation	correlation	PROPN
fbem-14610	164	4	coefficient	coefficient	NOUN
fbem-14610	164	5	,	,	PUNCT
fbem-14610	164	6	also	also	ADV
fbem-14610	164	7	known	know	VERB
fbem-14610	164	8	as	as	ADP
fbem-14610	164	9	the	the	DET
fbem-14610	164	10	pearson	pearson	PROPN
fbem-14610	164	11	productmoment	productmoment	PROPN
fbem-14610	164	12	correlation	correlation	NOUN
fbem-14610	164	13	coefficient	coefficient	NOUN
fbem-14610	164	14	,	,	PUNCT
fbem-14610	164	15	is	be	AUX
fbem-14610	164	16	commonly	commonly	ADV
fbem-14610	164	17	used	use	VERB
fbem-14610	164	18	to	to	PART
fbem-14610	164	19	analyze	analyze	VERB
fbem-14610	164	20	the	the	DET
fbem-14610	164	21	relationship	relationship	NOUN
fbem-14610	164	22	between	between	ADP
fbem-14610	164	23	two	two	NUM
fbem-14610	164	24	continuous	continuous	ADJ
fbem-14610	164	25	variables	variable	NOUN
fbem-14610	164	26	.	.	PUNCT
fbem-14610	165	1	its	its	PRON
fbem-14610	165	2	formula	formula	NOUN
fbem-14610	165	3	is	be	AUX
fbem-14610	165	4	as	as	SCONJ
fbem-14610	165	5	follows	follow	VERB
fbem-14610	165	6	:	:	PUNCT
fbem-14610	165	7	𝑟	𝑟	X
fbem-14610	165	8	𝑋	𝑋	PROPN
fbem-14610	165	9	,	,	PUNCT
fbem-14610	165	10	𝑌	𝑌	PROPN
fbem-14610	165	11	𝐶𝑜𝑣	𝐶𝑜𝑣	PROPN
fbem-14610	165	12	𝑋	𝑋	PROPN
fbem-14610	165	13	,	,	PUNCT
fbem-14610	165	14	𝑌	𝑌	PROPN
fbem-14610	165	15	𝑉𝑎𝑟	𝑉𝑎𝑟	PROPN
fbem-14610	165	16	𝑋	𝑋	PROPN
fbem-14610	165	17	𝑉𝑎𝑟	𝑉𝑎𝑟	PROPN
fbem-14610	165	18	𝑌	𝑌	PROPN
fbem-14610	165	19	the	the	DET
fbem-14610	165	20	correlation	correlation	NOUN
fbem-14610	165	21	coefficient	coefficient	NOUN
fbem-14610	165	22	'	'	PUNCT
fbem-14610	165	23	r	r	NOUN
fbem-14610	165	24	'	'	PUNCT
fbem-14610	165	25	ranges	range	NOUN
fbem-14610	165	26	from	from	ADP
fbem-14610	165	27	-1	-1	INTJ
fbem-14610	165	28	to	to	ADP
fbem-14610	165	29	1	1	NUM
fbem-14610	165	30	,	,	PUNCT
fbem-14610	165	31	where	where	SCONJ
fbem-14610	165	32	r	r	NOUN
fbem-14610	165	33	>	>	X
fbem-14610	165	34	0	0	NUM
fbem-14610	165	35	indicates	indicate	VERB
fbem-14610	165	36	a	a	DET
fbem-14610	165	37	positive	positive	ADJ
fbem-14610	165	38	correlation	correlation	NOUN
fbem-14610	165	39	,	,	PUNCT
fbem-14610	165	40	r	r	NOUN
fbem-14610	165	41	<	<	X
fbem-14610	165	42	0	0	NUM
fbem-14610	165	43	indicates	indicate	VERB
fbem-14610	165	44	a	a	DET
fbem-14610	165	45	negative	negative	ADJ
fbem-14610	165	46	correlation	correlation	NOUN
fbem-14610	165	47	,	,	PUNCT
fbem-14610	165	48	|r|	|r|	NOUN
fbem-14610	165	49	=	=	SYM
fbem-14610	165	50	0	0	NUM
fbem-14610	165	51	signifies	signify	VERB
fbem-14610	165	52	no	no	DET
fbem-14610	165	53	linear	linear	ADJ
fbem-14610	165	54	relationship	relationship	NOUN
fbem-14610	165	55	,	,	PUNCT
fbem-14610	165	56	and	and	CCONJ
fbem-14610	165	57	|r|	|r|	NOUN
fbem-14610	165	58	=	=	NOUN
fbem-14610	165	59	1	1	NUM
fbem-14610	165	60	represents	represent	VERB
fbem-14610	165	61	a	a	DET
fbem-14610	165	62	perfect	perfect	ADJ
fbem-14610	165	63	linear	linear	NOUN
fbem-14610	165	64	relationship	relationship	NOUN
fbem-14610	165	65	.	.	PUNCT
fbem-14610	166	1	in	in	ADP
fbem-14610	166	2	the	the	DET
fbem-14610	166	3	formula	formula	NOUN
fbem-14610	166	4	,	,	PUNCT
fbem-14610	166	5	'	'	PUNCT
fbem-14610	166	6	x	x	X
fbem-14610	166	7	'	'	PUNCT
fbem-14610	166	8	and	and	CCONJ
fbem-14610	166	9	'	'	PUNCT
fbem-14610	166	10	y	y	X
fbem-14610	166	11	'	'	PUNCT
fbem-14610	166	12	represent	represent	VERB
fbem-14610	166	13	the	the	DET
fbem-14610	166	14	daily	daily	ADJ
fbem-14610	166	15	returns	return	NOUN
fbem-14610	166	16	of	of	ADP
fbem-14610	166	17	the	the	DET
fbem-14610	166	18	csi	csi	ADJ
fbem-14610	166	19	300	300	NUM
fbem-14610	166	20	and	and	CCONJ
fbem-14610	166	21	the	the	DET
fbem-14610	166	22	hsi	hsi	PROPN
fbem-14610	166	23	,	,	PUNCT
fbem-14610	166	24	respectively	respectively	ADV
fbem-14610	166	25	.	.	PUNCT
fbem-14610	166	26	table	table	NOUN
fbem-14610	166	27	2	2	NUM
fbem-14610	166	28	.	.	PUNCT
fbem-14610	167	1	the	the	DET
fbem-14610	167	2	correlation	correlation	NOUN
fbem-14610	167	3	coefficient	coefficient	NOUN
fbem-14610	167	4	between	between	ADP
fbem-14610	167	5	the	the	DET
fbem-14610	167	6	daily	daily	ADJ
fbem-14610	167	7	return	return	NOUN
fbem-14610	167	8	of	of	ADP
fbem-14610	167	9	the	the	DET
fbem-14610	167	10	csi	csi	ADJ
fbem-14610	167	11	300	300	NUM
fbem-14610	167	12	and	and	CCONJ
fbem-14610	167	13	the	the	DET
fbem-14610	167	14	daily	daily	ADJ
fbem-14610	167	15	return	return	NOUN
fbem-14610	167	16	of	of	ADP
fbem-14610	167	17	the	the	DET
fbem-14610	167	18	hsi	hsi	PROPN
fbem-14610	167	19	csi	csi	PROPN
fbem-14610	167	20	300	300	NUM
fbem-14610	167	21	-	-	PUNCT
fbem-14610	167	22	day	day	NOUN
fbem-14610	167	23	yield	yield	NOUN
fbem-14610	167	24	daily	daily	ADJ
fbem-14610	167	25	yield	yield	NOUN
fbem-14610	167	26	of	of	ADP
fbem-14610	167	27	hsi	hsi	PROPN
fbem-14610	167	28	csi	csi	PROPN
fbem-14610	167	29	300	300	NUM
fbem-14610	167	30	-	-	PUNCT
fbem-14610	167	31	day	day	NOUN
fbem-14610	167	32	yield	yield	NOUN
fbem-14610	167	33	1	1	NUM
fbem-14610	167	34	0.643	0.643	NUM
fbem-14610	167	35	daily	daily	ADJ
fbem-14610	167	36	yield	yield	NOUN
fbem-14610	167	37	of	of	ADP
fbem-14610	167	38	hsi	hsi	PROPN
fbem-14610	167	39	0.643	0.643	NUM
fbem-14610	167	40	1	1	NUM
fbem-14610	167	41	table	table	NOUN
fbem-14610	167	42	2	2	NUM
fbem-14610	167	43	displays	display	VERB
fbem-14610	167	44	the	the	DET
fbem-14610	167	45	correlation	correlation	NOUN
fbem-14610	167	46	coefficient	coefficient	NOUN
fbem-14610	167	47	between	between	ADP
fbem-14610	167	48	the	the	DET
fbem-14610	167	49	daily	daily	ADJ
fbem-14610	167	50	returns	return	NOUN
fbem-14610	167	51	of	of	ADP
fbem-14610	167	52	the	the	DET
fbem-14610	167	53	csi	csi	ADJ
fbem-14610	167	54	300	300	NUM
fbem-14610	167	55	and	and	CCONJ
fbem-14610	167	56	the	the	DET
fbem-14610	167	57	hsi	hsi	PROPN
fbem-14610	167	58	.	.	PUNCT
fbem-14610	168	1	the	the	DET
fbem-14610	168	2	data	datum	NOUN
fbem-14610	168	3	indicates	indicate	VERB
fbem-14610	168	4	a	a	DET
fbem-14610	168	5	positive	positive	ADJ
fbem-14610	168	6	correlation	correlation	NOUN
fbem-14610	168	7	and	and	CCONJ
fbem-14610	168	8	a	a	DET
fbem-14610	168	9	linear	linear	ADJ
fbem-14610	168	10	relationship	relationship	NOUN
fbem-14610	168	11	between	between	ADP
fbem-14610	168	12	the	the	DET
fbem-14610	168	13	daily	daily	ADJ
fbem-14610	168	14	returns	return	NOUN
fbem-14610	168	15	of	of	ADP
fbem-14610	168	16	the	the	DET
fbem-14610	168	17	two	two	NUM
fbem-14610	168	18	indices	index	NOUN
fbem-14610	168	19	,	,	PUNCT
fbem-14610	168	20	with	with	ADP
fbem-14610	168	21	a	a	DET
fbem-14610	168	22	correlation	correlation	NOUN
fbem-14610	168	23	coefficient	coefficient	NOUN
fbem-14610	168	24	of	of	ADP
fbem-14610	168	25	0.643	0.643	NUM
fbem-14610	168	26	.	.	PUNCT
fbem-14610	169	1	this	this	PRON
fbem-14610	169	2	suggests	suggest	VERB
fbem-14610	169	3	that	that	SCONJ
fbem-14610	169	4	as	as	ADP
fbem-14610	169	5	the	the	DET
fbem-14610	169	6	daily	daily	ADJ
fbem-14610	169	7	returns	return	NOUN
fbem-14610	169	8	of	of	ADP
fbem-14610	169	9	the	the	DET
fbem-14610	169	10	csi	csi	ADJ
fbem-14610	169	11	300	300	NUM
fbem-14610	169	12	increase	increase	NOUN
fbem-14610	169	13	,	,	PUNCT
fbem-14610	169	14	the	the	DET
fbem-14610	169	15	daily	daily	ADJ
fbem-14610	169	16	returns	return	NOUN
fbem-14610	169	17	of	of	ADP
fbem-14610	169	18	the	the	DET
fbem-14610	169	19	hsi	hsi	PROPN
fbem-14610	169	20	also	also	ADV
fbem-14610	169	21	tend	tend	VERB
fbem-14610	169	22	to	to	PART
fbem-14610	169	23	increase	increase	VERB
fbem-14610	169	24	.	.	PUNCT
fbem-14610	170	1	4.2.3	4.2.3	X
fbem-14610	170	2	.	.	PUNCT
fbem-14610	171	1	stationarity	stationarity	NOUN
fbem-14610	171	2	test	test	NOUN
fbem-14610	171	3	stationarity	stationarity	NOUN
fbem-14610	171	4	refers	refer	VERB
fbem-14610	171	5	to	to	ADP
fbem-14610	171	6	a	a	DET
fbem-14610	171	7	state	state	NOUN
fbem-14610	171	8	in	in	ADP
fbem-14610	171	9	a	a	DET
fbem-14610	171	10	stochastic	stochastic	ADJ
fbem-14610	171	11	process	process	NOUN
fbem-14610	171	12	where	where	SCONJ
fbem-14610	171	13	both	both	CCONJ
fbem-14610	171	14	the	the	DET
fbem-14610	171	15	mean	mean	NOUN
fbem-14610	171	16	and	and	CCONJ
fbem-14610	171	17	variance	variance	NOUN
fbem-14610	171	18	are	be	AUX
fbem-14610	171	19	constant	constant	ADJ
fbem-14610	171	20	,	,	PUNCT
fbem-14610	171	21	and	and	CCONJ
fbem-14610	171	22	the	the	DET
fbem-14610	171	23	covariance	covariance	NOUN
fbem-14610	171	24	between	between	ADP
fbem-14610	171	25	any	any	DET
fbem-14610	171	26	two	two	NUM
fbem-14610	171	27	time	time	NOUN
fbem-14610	171	28	periods	period	NOUN
fbem-14610	171	29	depends	depend	VERB
fbem-14610	171	30	solely	solely	ADV
fbem-14610	171	31	on	on	ADP
fbem-14610	171	32	the	the	DET
fbem-14610	171	33	time	time	NOUN
fbem-14610	171	34	lag	lag	NOUN
fbem-14610	171	35	between	between	ADP
fbem-14610	171	36	them	they	PRON
fbem-14610	171	37	.	.	PUNCT
fbem-14610	172	1	testing	test	VERB
fbem-14610	172	2	for	for	ADP
fbem-14610	172	3	stationarity	stationarity	NOUN
fbem-14610	172	4	is	be	AUX
fbem-14610	172	5	a	a	DET
fbem-14610	172	6	prerequisite	prerequisite	NOUN
fbem-14610	172	7	when	when	SCONJ
fbem-14610	172	8	employing	employ	VERB
fbem-14610	172	9	the	the	DET
fbem-14610	172	10	granger	granger	PROPN
fbem-14610	172	11	causality	causality	NOUN
fbem-14610	172	12	model	model	NOUN
fbem-14610	172	13	.	.	PUNCT
fbem-14610	173	1	this	this	DET
fbem-14610	173	2	paper	paper	NOUN
fbem-14610	173	3	utilizes	utilize	VERB
fbem-14610	173	4	the	the	DET
fbem-14610	173	5	augmented	augment	VERB
fbem-14610	173	6	dickey	dickey	NOUN
fbem-14610	173	7	-	-	PUNCT
fbem-14610	173	8	fuller	full	ADJ
fbem-14610	173	9	(	(	PUNCT
fbem-14610	173	10	adf	adf	NOUN
fbem-14610	173	11	)	)	PUNCT
fbem-14610	173	12	unit	unit	NOUN
fbem-14610	173	13	root	root	NOUN
fbem-14610	173	14	test	test	NOUN
fbem-14610	173	15	method	method	NOUN
fbem-14610	173	16	.	.	PUNCT
fbem-14610	174	1	the	the	DET
fbem-14610	174	2	null	null	ADJ
fbem-14610	174	3	hypothesis	hypothesis	NOUN
fbem-14610	174	4	of	of	ADP
fbem-14610	174	5	the	the	DET
fbem-14610	174	6	adf	adf	PROPN
fbem-14610	174	7	unit	unit	NOUN
fbem-14610	174	8	root	root	PROPN
fbem-14610	174	9	test	test	NOUN
fbem-14610	174	10	assumes	assume	VERB
fbem-14610	174	11	the	the	DET
fbem-14610	174	12	presence	presence	NOUN
fbem-14610	174	13	of	of	ADP
fbem-14610	174	14	at	at	ADV
fbem-14610	174	15	least	least	ADV
fbem-14610	174	16	one	one	NUM
fbem-14610	174	17	unit	unit	NOUN
fbem-14610	174	18	root	root	NOUN
fbem-14610	174	19	.	.	PUNCT
fbem-14610	175	1	if	if	SCONJ
fbem-14610	175	2	the	the	DET
fbem-14610	175	3	adf	adf	PROPN
fbem-14610	175	4	test	test	NOUN
fbem-14610	175	5	statistic	statistic	NOUN
fbem-14610	175	6	in	in	ADP
fbem-14610	175	7	the	the	DET
fbem-14610	175	8	result	result	NOUN
fbem-14610	175	9	is	be	AUX
fbem-14610	175	10	less	less	ADJ
fbem-14610	175	11	than	than	ADP
fbem-14610	175	12	the	the	DET
fbem-14610	175	13	critical	critical	ADJ
fbem-14610	175	14	value	value	NOUN
fbem-14610	175	15	at	at	ADP
fbem-14610	175	16	a	a	DET
fbem-14610	175	17	given	give	VERB
fbem-14610	175	18	significance	significance	NOUN
fbem-14610	175	19	level	level	NOUN
fbem-14610	175	20	,	,	PUNCT
fbem-14610	175	21	the	the	DET
fbem-14610	175	22	null	null	ADJ
fbem-14610	175	23	hypothesis	hypothesis	NOUN
fbem-14610	175	24	is	be	AUX
fbem-14610	175	25	rejected	reject	VERB
fbem-14610	175	26	,	,	PUNCT
fbem-14610	175	27	suggesting	suggest	VERB
fbem-14610	175	28	that	that	SCONJ
fbem-14610	175	29	the	the	DET
fbem-14610	175	30	examined	examine	VERB
fbem-14610	175	31	time	time	NOUN
fbem-14610	175	32	series	series	PROPN
fbem-14610	175	33	is	be	AUX
fbem-14610	175	34	stationary	stationary	ADJ
fbem-14610	175	35	.	.	PUNCT
fbem-14610	176	1	otherwise	otherwise	ADV
fbem-14610	176	2	,	,	PUNCT
fbem-14610	176	3	it	it	PRON
fbem-14610	176	4	is	be	AUX
fbem-14610	176	5	considered	consider	VERB
fbem-14610	176	6	a	a	DET
fbem-14610	176	7	non	non	ADJ
fbem-14610	176	8	-	-	ADJ
fbem-14610	176	9	stationary	stationary	ADJ
fbem-14610	176	10	time	time	NOUN
fbem-14610	176	11	series	series	NOUN
fbem-14610	176	12	.	.	PUNCT
fbem-14610	177	1	the	the	DET
fbem-14610	177	2	adf	adf	PROPN
fbem-14610	177	3	test	test	NOUN
fbem-14610	177	4	results	result	NOUN
fbem-14610	177	5	for	for	ADP
fbem-14610	177	6	the	the	DET
fbem-14610	177	7	daily	daily	ADJ
fbem-14610	177	8	returns	return	NOUN
fbem-14610	177	9	of	of	ADP
fbem-14610	177	10	the	the	DET
fbem-14610	177	11	hsi	hsi	PROPN
fbem-14610	177	12	and	and	CCONJ
fbem-14610	177	13	the	the	DET
fbem-14610	177	14	csi	csi	PROPN
fbem-14610	177	15	300	300	NUM
fbem-14610	177	16	during	during	ADP
fbem-14610	177	17	the	the	DET
fbem-14610	177	18	pandemic	pandemic	ADJ
fbem-14610	177	19	period	period	NOUN
fbem-14610	177	20	are	be	AUX
fbem-14610	177	21	presented	present	VERB
fbem-14610	177	22	in	in	ADP
fbem-14610	177	23	table	table	NOUN
fbem-14610	177	24	3	3	NUM
fbem-14610	177	25	.	.	PUNCT
fbem-14610	177	26	table	table	NOUN
fbem-14610	177	27	3	3	NUM
fbem-14610	177	28	.	.	PUNCT
fbem-14610	178	1	adf	adf	NOUN
fbem-14610	178	2	test	test	NOUN
fbem-14610	178	3	results	result	NOUN
fbem-14610	178	4	for	for	ADP
fbem-14610	178	5	csi	csi	PROPN
fbem-14610	178	6	300	300	NUM
fbem-14610	178	7	and	and	CCONJ
fbem-14610	178	8	hsi	hsi	PROPN
fbem-14610	178	9	during	during	ADP
fbem-14610	178	10	the	the	DET
fbem-14610	178	11	pandemic	pandemic	ADJ
fbem-14610	178	12	adf	adf	PROPN
fbem-14610	178	13	test	test	NOUN
fbem-14610	178	14	:	:	PUNCT
fbem-14610	178	15	daily	daily	ADJ
fbem-14610	178	16	yield	yield	NOUN
fbem-14610	178	17	of	of	ADP
fbem-14610	178	18	hsi	hsi	PROPN
fbem-14610	178	19	adf	adf	PROPN
fbem-14610	178	20	statistics	statistic	NOUN
fbem-14610	178	21	:	:	PUNCT
fbem-14610	178	22	-11.559555	-11.559555	PUNCT
fbem-14610	178	23	p	p	X
fbem-14610	178	24	-	-	PUNCT
fbem-14610	178	25	value	value	NOUN
fbem-14610	178	26	:	:	PUNCT
fbem-14610	178	27	0.000000	0.000000	NUM
fbem-14610	178	28	critical	critical	ADJ
fbem-14610	178	29	values	value	NOUN
fbem-14610	178	30	:	:	PUNCT
fbem-14610	178	31	1	1	NUM
fbem-14610	178	32	%	%	NOUN
fbem-14610	178	33	:	:	PUNCT
fbem-14610	178	34	-3.440	-3.440	PROPN
fbem-14610	178	35	5	5	NUM
fbem-14610	178	36	%	%	NOUN
fbem-14610	178	37	:	:	PUNCT
fbem-14610	178	38	-2.866	-2.866	PROPN
fbem-14610	178	39	adf	adf	PROPN
fbem-14610	178	40	test	test	NOUN
fbem-14610	178	41	:	:	PUNCT
fbem-14610	178	42	daily	daily	ADJ
fbem-14610	178	43	yield	yield	NOUN
fbem-14610	178	44	of	of	ADP
fbem-14610	178	45	hsi	hsi	PROPN
fbem-14610	178	46	10	10	NUM
fbem-14610	178	47	%	%	NOUN
fbem-14610	178	48	:	:	PUNCT
fbem-14610	178	49	-2.569	-2.569	PROPN
fbem-14610	178	50	adf	adf	PROPN
fbem-14610	178	51	test	test	NOUN
fbem-14610	178	52	:	:	PUNCT
fbem-14610	178	53	csi	csi	PROPN
fbem-14610	178	54	300	300	NUM
fbem-14610	178	55	-	-	PUNCT
fbem-14610	178	56	day	day	NOUN
fbem-14610	178	57	yield	yield	NOUN
fbem-14610	178	58	adf	adf	PROPN
fbem-14610	178	59	statistics	statistic	NOUN
fbem-14610	178	60	:	:	PUNCT
fbem-14610	178	61	-26.671443	-26.671443	PUNCT
fbem-14610	178	62	p	p	NOUN
fbem-14610	178	63	-	-	PUNCT
fbem-14610	178	64	value	value	NOUN
fbem-14610	178	65	:	:	PUNCT
fbem-14610	178	66	0.000000	0.000000	NUM
fbem-14610	178	67	critical	critical	ADJ
fbem-14610	178	68	values	value	NOUN
fbem-14610	178	69	:	:	PUNCT
fbem-14610	178	70	1	1	NUM
fbem-14610	178	71	%	%	NOUN
fbem-14610	178	72	:	:	PUNCT
fbem-14610	178	73	-3.440	-3.440	PROPN
fbem-14610	178	74	5	5	NUM
fbem-14610	178	75	%	%	NOUN
fbem-14610	178	76	:	:	PUNCT
fbem-14610	178	77	-2.866	-2.866	PROPN
fbem-14610	179	1	10	10	NUM
fbem-14610	179	2	%	%	NOUN
fbem-14610	179	3	:	:	PUNCT
fbem-14610	179	4	-2.569	-2.569	NOUN
fbem-14610	179	5	93	93	NUM
fbem-14610	179	6	looking	look	VERB
fbem-14610	179	7	at	at	ADP
fbem-14610	179	8	the	the	DET
fbem-14610	179	9	adf	adf	PROPN
fbem-14610	179	10	test	test	NOUN
fbem-14610	179	11	results	result	NOUN
fbem-14610	179	12	for	for	ADP
fbem-14610	179	13	both	both	CCONJ
fbem-14610	179	14	the	the	DET
fbem-14610	179	15	hsi	hsi	PROPN
fbem-14610	179	16	and	and	CCONJ
fbem-14610	179	17	the	the	DET
fbem-14610	179	18	csi	csi	PROPN
fbem-14610	179	19	300	300	NUM
fbem-14610	179	20	,	,	PUNCT
fbem-14610	179	21	the	the	DET
fbem-14610	179	22	p	p	NOUN
fbem-14610	179	23	-	-	PUNCT
fbem-14610	179	24	values	value	NOUN
fbem-14610	179	25	are	be	AUX
fbem-14610	179	26	extremely	extremely	ADV
fbem-14610	179	27	low	low	ADJ
fbem-14610	179	28	,	,	PUNCT
fbem-14610	179	29	approaching	approach	VERB
fbem-14610	179	30	zero	zero	NUM
fbem-14610	179	31	.	.	PUNCT
fbem-14610	180	1	with	with	ADP
fbem-14610	180	2	p	p	NOUN
fbem-14610	180	3	-	-	PUNCT
fbem-14610	180	4	values	value	NOUN
fbem-14610	180	5	<	<	X
fbem-14610	180	6	0.05	0.05	NUM
fbem-14610	180	7	,	,	PUNCT
fbem-14610	180	8	rejecting	reject	VERB
fbem-14610	180	9	the	the	DET
fbem-14610	180	10	null	null	ADJ
fbem-14610	180	11	hypothesis	hypothesis	NOUN
fbem-14610	180	12	is	be	AUX
fbem-14610	180	13	valid	valid	ADJ
fbem-14610	180	14	,	,	PUNCT
fbem-14610	180	15	indicating	indicate	VERB
fbem-14610	180	16	the	the	DET
fbem-14610	180	17	stationarity	stationarity	NOUN
fbem-14610	180	18	of	of	ADP
fbem-14610	180	19	these	these	DET
fbem-14610	180	20	two	two	NUM
fbem-14610	180	21	time	time	NOUN
fbem-14610	180	22	series	series	NOUN
fbem-14610	180	23	.	.	PUNCT
fbem-14610	181	1	consequently	consequently	ADV
fbem-14610	181	2	,	,	PUNCT
fbem-14610	181	3	conducting	conduct	VERB
fbem-14610	181	4	further	further	ADJ
fbem-14610	181	5	granger	granger	PROPN
fbem-14610	181	6	causality	causality	NOUN
fbem-14610	181	7	tests	test	NOUN
fbem-14610	181	8	is	be	AUX
fbem-14610	181	9	feasible	feasible	ADJ
fbem-14610	181	10	.	.	PUNCT
fbem-14610	182	1	omitting	omit	VERB
fbem-14610	182	2	the	the	DET
fbem-14610	182	3	adf	adf	NOUN
fbem-14610	182	4	testing	testing	NOUN
fbem-14610	182	5	process	process	NOUN
fbem-14610	182	6	from	from	ADP
fbem-14610	182	7	2010	2010	NUM
fbem-14610	182	8	until	until	ADP
fbem-14610	182	9	the	the	DET
fbem-14610	182	10	pre	pre	ADJ
fbem-14610	182	11	-	-	ADJ
fbem-14610	182	12	pandemic	pandemic	ADJ
fbem-14610	182	13	period	period	NOUN
fbem-14610	182	14	,	,	PUNCT
fbem-14610	182	15	the	the	DET
fbem-14610	182	16	p	p	NOUN
fbem-14610	182	17	-	-	PUNCT
fbem-14610	182	18	values	value	NOUN
fbem-14610	182	19	consistently	consistently	ADV
fbem-14610	182	20	approach	approach	VERB
fbem-14610	182	21	zero	zero	NUM
fbem-14610	182	22	,	,	PUNCT
fbem-14610	182	23	confirming	confirm	VERB
fbem-14610	182	24	the	the	DET
fbem-14610	182	25	stationarity	stationarity	NOUN
fbem-14610	182	26	of	of	ADP
fbem-14610	182	27	the	the	DET
fbem-14610	182	28	time	time	NOUN
fbem-14610	182	29	series	series	NOUN
fbem-14610	182	30	and	and	CCONJ
fbem-14610	182	31	allowing	allow	VERB
fbem-14610	182	32	for	for	ADP
fbem-14610	182	33	granger	granger	PROPN
fbem-14610	182	34	causality	causality	NOUN
fbem-14610	182	35	analysis	analysis	NOUN
fbem-14610	182	36	.	.	PUNCT
fbem-14610	183	1	4.2.4	4.2.4	X
fbem-14610	183	2	.	.	PUNCT
fbem-14610	184	1	granger	granger	PROPN
fbem-14610	184	2	causality	causality	PROPN
fbem-14610	184	3	test	test	NOUN
fbem-14610	184	4	1	1	NUM
fbem-14610	184	5	)	)	PUNCT
fbem-14610	184	6	the	the	DET
fbem-14610	184	7	granger	granger	PROPN
fbem-14610	184	8	causality	causality	PROPN
fbem-14610	184	9	test	test	NOUN
fbem-14610	184	10	results	result	NOUN
fbem-14610	184	11	for	for	ADP
fbem-14610	184	12	the	the	DET
fbem-14610	184	13	daily	daily	ADJ
fbem-14610	184	14	returns	return	NOUN
fbem-14610	184	15	of	of	ADP
fbem-14610	184	16	the	the	DET
fbem-14610	184	17	hsi	hsi	PROPN
fbem-14610	184	18	and	and	CCONJ
fbem-14610	184	19	the	the	DET
fbem-14610	184	20	csi	csi	PROPN
fbem-14610	184	21	300	300	NUM
fbem-14610	184	22	from	from	ADP
fbem-14610	184	23	2010	2010	NUM
fbem-14610	184	24	to	to	ADP
fbem-14610	184	25	november	november	PROPN
fbem-14610	184	26	2014	2014	NUM
fbem-14610	184	27	(	(	PUNCT
fbem-14610	184	28	preshanghai	preshanghai	PROPN
fbem-14610	184	29	-	-	PUNCT
fbem-14610	184	30	hong	hong	PROPN
fbem-14610	184	31	kong	kong	PROPN
fbem-14610	184	32	stock	stock	PROPN
fbem-14610	184	33	connect	connect	PROPN
fbem-14610	184	34	)	)	PUNCT
fbem-14610	184	35	are	be	AUX
fbem-14610	184	36	presented	present	VERB
fbem-14610	184	37	in	in	ADP
fbem-14610	184	38	table	table	NOUN
fbem-14610	184	39	4	4	NUM
fbem-14610	184	40	.	.	PUNCT
fbem-14610	184	41	table	table	NOUN
fbem-14610	184	42	4	4	NUM
fbem-14610	184	43	.	.	PUNCT
fbem-14610	185	1	granger	granger	PROPN
fbem-14610	185	2	causality	causality	PROPN
fbem-14610	185	3	test	test	NOUN
fbem-14610	185	4	results	result	NOUN
fbem-14610	185	5	of	of	ADP
fbem-14610	185	6	csi	csi	PROPN
fbem-14610	185	7	300	300	NUM
fbem-14610	185	8	and	and	CCONJ
fbem-14610	185	9	hsi	hsi	PROPN
fbem-14610	185	10	from	from	ADP
fbem-14610	185	11	2010	2010	NUM
fbem-14610	185	12	to	to	ADP
fbem-14610	185	13	2014	2014	NUM
fbem-14610	185	14	hsi	hsi	PROPN
fbem-14610	186	1	_	_	PUNCT
fbem-14610	186	2	x	x	SYM
fbem-14610	186	3	csi	csi	PROPN
fbem-14610	187	1	300	300	NUM
fbem-14610	187	2	_	_	PUNCT
fbem-14610	187	3	x	x	X
fbem-14610	188	1	hsi	hsi	PROPN
fbem-14610	188	2	_	_	PROPN
fbem-14610	188	3	y	y	PROPN
fbem-14610	188	4	1.000	1.000	NUM
fbem-14610	188	5	0.0337	0.0337	NUM
fbem-14610	188	6	csi	csi	PROPN
fbem-14610	188	7	300	300	NUM
fbem-14610	188	8	_	_	PUNCT
fbem-14610	188	9	y	y	PROPN
fbem-14610	188	10	0.1047	0.1047	NUM
fbem-14610	188	11	1.000	1.000	NUM
fbem-14610	188	12	in	in	ADP
fbem-14610	188	13	the	the	DET
fbem-14610	188	14	table	table	NOUN
fbem-14610	188	15	above	above	ADV
fbem-14610	188	16	,	,	PUNCT
fbem-14610	188	17	'	'	PUNCT
fbem-14610	188	18	y	y	X
fbem-14610	188	19	'	'	PUNCT
fbem-14610	188	20	represents	represent	VERB
fbem-14610	188	21	the	the	DET
fbem-14610	188	22	response	response	NOUN
fbem-14610	188	23	variable	variable	NOUN
fbem-14610	188	24	,	,	PUNCT
fbem-14610	188	25	and	and	CCONJ
fbem-14610	188	26	'	'	PUNCT
fbem-14610	188	27	x	x	X
fbem-14610	188	28	'	'	PUNCT
fbem-14610	188	29	represents	represent	VERB
fbem-14610	188	30	the	the	DET
fbem-14610	188	31	predictor	predictor	NOUN
fbem-14610	188	32	variable	variable	NOUN
fbem-14610	188	33	.	.	PUNCT
fbem-14610	189	1	each	each	DET
fbem-14610	189	2	cell	cell	NOUN
fbem-14610	189	3	contains	contain	VERB
fbem-14610	189	4	a	a	DET
fbem-14610	189	5	pvalue	pvalue	NOUN
fbem-14610	189	6	.	.	PUNCT
fbem-14610	190	1	in	in	ADP
fbem-14610	190	2	the	the	DET
fbem-14610	190	3	second	second	ADJ
fbem-14610	190	4	row	row	NOUN
fbem-14610	190	5	and	and	CCONJ
fbem-14610	190	6	third	third	ADJ
fbem-14610	190	7	column	column	NOUN
fbem-14610	190	8	,	,	PUNCT
fbem-14610	190	9	the	the	DET
fbem-14610	190	10	p	p	NOUN
fbem-14610	190	11	-	-	PUNCT
fbem-14610	190	12	value	value	NOUN
fbem-14610	190	13	is	be	AUX
fbem-14610	190	14	0.0337	0.0337	NUM
fbem-14610	190	15	<	<	X
fbem-14610	190	16	0.05	0.05	NUM
fbem-14610	190	17	,	,	PUNCT
fbem-14610	190	18	indicating	indicate	VERB
fbem-14610	190	19	the	the	DET
fbem-14610	190	20	rejection	rejection	NOUN
fbem-14610	190	21	of	of	ADP
fbem-14610	190	22	the	the	DET
fbem-14610	190	23	null	null	ADJ
fbem-14610	190	24	hypothesis	hypothesis	NOUN
fbem-14610	190	25	,	,	PUNCT
fbem-14610	190	26	suggesting	suggest	VERB
fbem-14610	190	27	a	a	DET
fbem-14610	190	28	granger	granger	PROPN
fbem-14610	190	29	causal	causal	PROPN
fbem-14610	190	30	relationship	relationship	NOUN
fbem-14610	190	31	from	from	ADP
fbem-14610	190	32	the	the	DET
fbem-14610	190	33	csi	csi	ADJ
fbem-14610	190	34	300	300	NUM
fbem-14610	190	35	(	(	PUNCT
fbem-14610	190	36	'	'	PUNCT
fbem-14610	190	37	x	x	NOUN
fbem-14610	190	38	'	'	PUNCT
fbem-14610	190	39	)	)	PUNCT
fbem-14610	190	40	to	to	ADP
fbem-14610	190	41	the	the	DET
fbem-14610	190	42	hsi	hsi	PROPN
fbem-14610	190	43	(	(	PUNCT
fbem-14610	190	44	'	'	PUNCT
fbem-14610	190	45	y	y	NOUN
fbem-14610	190	46	'	'	PUNCT
fbem-14610	190	47	)	)	PUNCT
fbem-14610	190	48	.	.	PUNCT
fbem-14610	191	1	in	in	ADP
fbem-14610	191	2	the	the	DET
fbem-14610	191	3	third	third	ADJ
fbem-14610	191	4	row	row	NOUN
fbem-14610	191	5	and	and	CCONJ
fbem-14610	191	6	second	second	ADJ
fbem-14610	191	7	column	column	NOUN
fbem-14610	191	8	,	,	PUNCT
fbem-14610	191	9	the	the	DET
fbem-14610	191	10	pvalue	pvalue	NOUN
fbem-14610	191	11	is	be	AUX
fbem-14610	191	12	0.1047	0.1047	NUM
fbem-14610	191	13	>	>	SYM
fbem-14610	191	14	0.05	0.05	NUM
fbem-14610	191	15	,	,	PUNCT
fbem-14610	191	16	suggesting	suggest	VERB
fbem-14610	191	17	a	a	DET
fbem-14610	191	18	failure	failure	NOUN
fbem-14610	191	19	to	to	PART
fbem-14610	191	20	reject	reject	VERB
fbem-14610	191	21	the	the	DET
fbem-14610	191	22	null	null	ADJ
fbem-14610	191	23	hypothesis	hypothesis	NOUN
fbem-14610	191	24	,	,	PUNCT
fbem-14610	191	25	indicating	indicate	VERB
fbem-14610	191	26	that	that	SCONJ
fbem-14610	191	27	the	the	DET
fbem-14610	191	28	hsi	hsi	PROPN
fbem-14610	191	29	(	(	PUNCT
fbem-14610	191	30	'	'	PUNCT
fbem-14610	191	31	x	x	X
fbem-14610	191	32	'	'	PUNCT
fbem-14610	191	33	)	)	PUNCT
fbem-14610	191	34	does	do	AUX
fbem-14610	191	35	not	not	PART
fbem-14610	191	36	have	have	VERB
fbem-14610	191	37	a	a	DET
fbem-14610	191	38	granger	granger	PROPN
fbem-14610	191	39	causal	causal	PROPN
fbem-14610	191	40	relationship	relationship	NOUN
fbem-14610	191	41	with	with	ADP
fbem-14610	191	42	the	the	DET
fbem-14610	191	43	csi	csi	ADJ
fbem-14610	191	44	300	300	NUM
fbem-14610	191	45	(	(	PUNCT
fbem-14610	191	46	'	'	PUNCT
fbem-14610	191	47	y	y	NOUN
fbem-14610	191	48	'	'	PUNCT
fbem-14610	191	49	)	)	PUNCT
fbem-14610	191	50	.	.	PUNCT
fbem-14610	192	1	2	2	X
fbem-14610	192	2	)	)	PUNCT
fbem-14610	192	3	from	from	ADP
fbem-14610	192	4	november	november	PROPN
fbem-14610	192	5	2014	2014	NUM
fbem-14610	192	6	to	to	ADP
fbem-14610	192	7	january	january	PROPN
fbem-14610	192	8	2020	2020	NUM
fbem-14610	192	9	,	,	PUNCT
fbem-14610	192	10	after	after	SCONJ
fbem-14610	192	11	the	the	DET
fbem-14610	192	12	opening	opening	NOUN
fbem-14610	192	13	of	of	ADP
fbem-14610	192	14	the	the	DET
fbem-14610	192	15	shanghai	shanghai	PROPN
fbem-14610	192	16	-	-	PUNCT
fbem-14610	192	17	hong	hong	PROPN
fbem-14610	192	18	kong	kong	PROPN
fbem-14610	192	19	stock	stock	PROPN
fbem-14610	192	20	connect	connect	PROPN
fbem-14610	192	21	and	and	CCONJ
fbem-14610	192	22	shenzhenhong	shenzhenhong	PROPN
fbem-14610	192	23	kong	kong	PROPN
fbem-14610	192	24	stock	stock	PROPN
fbem-14610	192	25	connect	connect	VERB
fbem-14610	192	26	until	until	ADP
fbem-14610	192	27	the	the	DET
fbem-14610	192	28	pre	pre	ADJ
fbem-14610	192	29	-	-	ADJ
fbem-14610	192	30	pandemic	pandemic	ADJ
fbem-14610	192	31	period	period	NOUN
fbem-14610	192	32	,	,	PUNCT
fbem-14610	192	33	the	the	DET
fbem-14610	192	34	granger	granger	PROPN
fbem-14610	192	35	causality	causality	PROPN
fbem-14610	192	36	test	test	NOUN
fbem-14610	192	37	results	result	NOUN
fbem-14610	192	38	for	for	ADP
fbem-14610	192	39	the	the	DET
fbem-14610	192	40	daily	daily	ADJ
fbem-14610	192	41	returns	return	NOUN
fbem-14610	192	42	of	of	ADP
fbem-14610	192	43	the	the	DET
fbem-14610	192	44	hsi	hsi	PROPN
fbem-14610	192	45	and	and	CCONJ
fbem-14610	192	46	the	the	DET
fbem-14610	192	47	csi	csi	PROPN
fbem-14610	192	48	300	300	NUM
fbem-14610	192	49	are	be	AUX
fbem-14610	192	50	presented	present	VERB
fbem-14610	192	51	in	in	ADP
fbem-14610	192	52	table	table	NOUN
fbem-14610	192	53	5	5	NUM
fbem-14610	192	54	.	.	PUNCT
fbem-14610	192	55	table	table	NOUN
fbem-14610	192	56	5	5	NUM
fbem-14610	192	57	.	.	PUNCT
fbem-14610	193	1	the	the	DET
fbem-14610	193	2	results	result	NOUN
fbem-14610	193	3	of	of	ADP
fbem-14610	193	4	the	the	DET
fbem-14610	193	5	granger	granger	PROPN
fbem-14610	193	6	causality	causality	PROPN
fbem-14610	193	7	test	test	NOUN
fbem-14610	193	8	of	of	ADP
fbem-14610	193	9	the	the	DET
fbem-14610	193	10	csi	csi	ADJ
fbem-14610	193	11	300	300	NUM
fbem-14610	193	12	and	and	CCONJ
fbem-14610	193	13	the	the	DET
fbem-14610	193	14	hsi	hsi	PROPN
fbem-14610	193	15	from	from	ADP
fbem-14610	193	16	2014	2014	NUM
fbem-14610	193	17	to	to	ADP
fbem-14610	193	18	before	before	ADP
fbem-14610	193	19	the	the	DET
fbem-14610	193	20	pandemic	pandemic	ADJ
fbem-14610	193	21	hsi	hsi	PROPN
fbem-14610	193	22	_	_	PUNCT
fbem-14610	193	23	x	x	SYM
fbem-14610	193	24	csi	csi	PROPN
fbem-14610	194	1	300	300	NUM
fbem-14610	194	2	_	_	PUNCT
fbem-14610	194	3	x	x	X
fbem-14610	195	1	hsi	hsi	PROPN
fbem-14610	195	2	_	_	PROPN
fbem-14610	195	3	y	y	PROPN
fbem-14610	195	4	1.000	1.000	NUM
fbem-14610	195	5	0.0153	0.0153	NUM
fbem-14610	195	6	csi	csi	PROPN
fbem-14610	195	7	300	300	NUM
fbem-14610	195	8	_	_	PUNCT
fbem-14610	195	9	y	y	NOUN
fbem-14610	195	10	0.1287	0.1287	NUM
fbem-14610	195	11	1.000	1.000	NUM
fbem-14610	195	12	the	the	DET
fbem-14610	195	13	p	p	NOUN
fbem-14610	195	14	-	-	PUNCT
fbem-14610	195	15	value	value	NOUN
fbem-14610	195	16	in	in	ADP
fbem-14610	195	17	the	the	DET
fbem-14610	195	18	second	second	ADJ
fbem-14610	195	19	row	row	NOUN
fbem-14610	195	20	and	and	CCONJ
fbem-14610	195	21	third	third	ADJ
fbem-14610	195	22	column	column	NOUN
fbem-14610	195	23	is	be	AUX
fbem-14610	195	24	0.0153	0.0153	NUM
fbem-14610	195	25	<	<	X
fbem-14610	195	26	0.05	0.05	NUM
fbem-14610	195	27	,	,	PUNCT
fbem-14610	195	28	indicating	indicate	VERB
fbem-14610	195	29	the	the	DET
fbem-14610	195	30	rejection	rejection	NOUN
fbem-14610	195	31	of	of	ADP
fbem-14610	195	32	the	the	DET
fbem-14610	195	33	null	null	ADJ
fbem-14610	195	34	hypothesis	hypothesis	NOUN
fbem-14610	195	35	,	,	PUNCT
fbem-14610	195	36	suggesting	suggest	VERB
fbem-14610	195	37	a	a	DET
fbem-14610	195	38	granger	granger	PROPN
fbem-14610	195	39	causal	causal	PROPN
fbem-14610	195	40	relationship	relationship	NOUN
fbem-14610	195	41	from	from	ADP
fbem-14610	195	42	the	the	DET
fbem-14610	195	43	csi	csi	ADJ
fbem-14610	195	44	300	300	NUM
fbem-14610	195	45	(	(	PUNCT
fbem-14610	195	46	'	'	PUNCT
fbem-14610	195	47	x	x	NOUN
fbem-14610	195	48	'	'	PUNCT
fbem-14610	195	49	)	)	PUNCT
fbem-14610	195	50	to	to	ADP
fbem-14610	195	51	the	the	DET
fbem-14610	195	52	hsi	hsi	PROPN
fbem-14610	195	53	(	(	PUNCT
fbem-14610	195	54	'	'	PUNCT
fbem-14610	195	55	y	y	NOUN
fbem-14610	195	56	'	'	PUNCT
fbem-14610	195	57	)	)	PUNCT
fbem-14610	195	58	.	.	PUNCT
fbem-14610	196	1	in	in	ADP
fbem-14610	196	2	the	the	DET
fbem-14610	196	3	third	third	ADJ
fbem-14610	196	4	row	row	NOUN
fbem-14610	196	5	and	and	CCONJ
fbem-14610	196	6	second	second	ADJ
fbem-14610	196	7	column	column	NOUN
fbem-14610	196	8	,	,	PUNCT
fbem-14610	196	9	the	the	DET
fbem-14610	196	10	pvalue	pvalue	NOUN
fbem-14610	196	11	is	be	AUX
fbem-14610	196	12	0.1287	0.1287	NUM
fbem-14610	196	13	>	>	SYM
fbem-14610	196	14	0.05	0.05	NUM
fbem-14610	196	15	,	,	PUNCT
fbem-14610	196	16	indicating	indicate	VERB
fbem-14610	196	17	a	a	DET
fbem-14610	196	18	failure	failure	NOUN
fbem-14610	196	19	to	to	PART
fbem-14610	196	20	reject	reject	VERB
fbem-14610	196	21	the	the	DET
fbem-14610	196	22	null	null	ADJ
fbem-14610	196	23	hypothesis	hypothesis	NOUN
fbem-14610	196	24	,	,	PUNCT
fbem-14610	196	25	suggesting	suggest	VERB
fbem-14610	196	26	that	that	SCONJ
fbem-14610	196	27	the	the	DET
fbem-14610	196	28	hsi	hsi	PROPN
fbem-14610	196	29	(	(	PUNCT
fbem-14610	196	30	'	'	PUNCT
fbem-14610	196	31	x	x	X
fbem-14610	196	32	'	'	PUNCT
fbem-14610	196	33	)	)	PUNCT
fbem-14610	196	34	does	do	AUX
fbem-14610	196	35	not	not	PART
fbem-14610	196	36	have	have	VERB
fbem-14610	196	37	a	a	DET
fbem-14610	196	38	granger	granger	PROPN
fbem-14610	196	39	causal	causal	PROPN
fbem-14610	196	40	relationship	relationship	NOUN
fbem-14610	196	41	with	with	ADP
fbem-14610	196	42	the	the	DET
fbem-14610	196	43	csi	csi	ADJ
fbem-14610	196	44	300	300	NUM
fbem-14610	196	45	(	(	PUNCT
fbem-14610	196	46	'	'	PUNCT
fbem-14610	196	47	y	y	NOUN
fbem-14610	196	48	'	'	PUNCT
fbem-14610	196	49	)	)	PUNCT
fbem-14610	196	50	.	.	PUNCT
fbem-14610	197	1	3	3	X
fbem-14610	197	2	)	)	PUNCT
fbem-14610	197	3	during	during	ADP
fbem-14610	197	4	the	the	DET
fbem-14610	197	5	pandemic	pandemic	ADJ
fbem-14610	197	6	period	period	NOUN
fbem-14610	197	7	,	,	PUNCT
fbem-14610	197	8	the	the	DET
fbem-14610	197	9	granger	granger	PROPN
fbem-14610	197	10	causality	causality	PROPN
fbem-14610	197	11	test	test	NOUN
fbem-14610	197	12	results	result	NOUN
fbem-14610	197	13	for	for	ADP
fbem-14610	197	14	the	the	DET
fbem-14610	197	15	daily	daily	ADJ
fbem-14610	197	16	returns	return	NOUN
fbem-14610	197	17	of	of	ADP
fbem-14610	197	18	the	the	DET
fbem-14610	197	19	hsi	hsi	PROPN
fbem-14610	197	20	and	and	CCONJ
fbem-14610	197	21	the	the	DET
fbem-14610	197	22	csi	csi	PROPN
fbem-14610	197	23	300	300	NUM
fbem-14610	197	24	are	be	AUX
fbem-14610	197	25	presented	present	VERB
fbem-14610	197	26	in	in	ADP
fbem-14610	197	27	table	table	NOUN
fbem-14610	197	28	6	6	NUM
fbem-14610	197	29	.	.	PUNCT
fbem-14610	197	30	table	table	NOUN
fbem-14610	197	31	6	6	NUM
fbem-14610	197	32	.	.	PUNCT
fbem-14610	198	1	granger	granger	PROPN
fbem-14610	198	2	causality	causality	PROPN
fbem-14610	198	3	test	test	NOUN
fbem-14610	198	4	results	result	NOUN
fbem-14610	198	5	for	for	ADP
fbem-14610	198	6	csi	csi	PROPN
fbem-14610	198	7	300	300	NUM
fbem-14610	198	8	and	and	CCONJ
fbem-14610	198	9	hsi	hsi	PROPN
fbem-14610	198	10	during	during	ADP
fbem-14610	198	11	the	the	DET
fbem-14610	198	12	pandemic	pandemic	ADJ
fbem-14610	198	13	hsi	hsi	PROPN
fbem-14610	199	1	_	_	PUNCT
fbem-14610	199	2	x	x	SYM
fbem-14610	199	3	csi	csi	PROPN
fbem-14610	199	4	300	300	NUM
fbem-14610	199	5	_	_	PUNCT
fbem-14610	199	6	x	x	X
fbem-14610	200	1	hsi	hsi	PROPN
fbem-14610	200	2	_	_	PROPN
fbem-14610	200	3	y	y	PROPN
fbem-14610	200	4	1.000	1.000	NUM
fbem-14610	200	5	0.2527	0.2527	NUM
fbem-14610	200	6	csi	csi	PROPN
fbem-14610	200	7	300	300	NUM
fbem-14610	200	8	_	_	PUNCT
fbem-14610	200	9	y	y	PROPN
fbem-14610	200	10	0.009	0.009	NUM
fbem-14610	200	11	1.000	1.000	NUM
fbem-14610	200	12	table	table	NOUN
fbem-14610	200	13	7	7	NUM
fbem-14610	200	14	.	.	PUNCT
fbem-14610	200	15	weekly	weekly	ADJ
fbem-14610	200	16	var	var	NOUN
fbem-14610	200	17	model	model	NOUN
fbem-14610	200	18	results	result	NOUN
fbem-14610	200	19	for	for	ADP
fbem-14610	200	20	the	the	DET
fbem-14610	200	21	csi	csi	ADJ
fbem-14610	200	22	300	300	NUM
fbem-14610	200	23	and	and	CCONJ
fbem-14610	200	24	the	the	DET
fbem-14610	200	25	hsi	hsi	PROPN
fbem-14610	200	26	before	before	ADP
fbem-14610	200	27	and	and	CCONJ
fbem-14610	200	28	after	after	ADP
fbem-14610	200	29	the	the	DET
fbem-14610	200	30	pandemic	pandemic	ADJ
fbem-14610	200	31	\	\	NOUN
fbem-14610	200	32	pre	pre	ADJ
fbem-14610	200	33	-	-	ADJ
fbem-14610	200	34	pandemic	pandemic	ADJ
fbem-14610	200	35	coefficients	coefficient	NOUN
fbem-14610	200	36	pre	pre	ADJ
fbem-14610	200	37	-	-	ADJ
fbem-14610	200	38	pandemic	pandemic	ADJ
fbem-14610	200	39	pvalue	pvalue	NOUN
fbem-14610	200	40	post	post	ADJ
fbem-14610	200	41	-	-	ADJ
fbem-14610	200	42	pandemic	pandemic	ADJ
fbem-14610	200	43	coefficients	coefficient	NOUN
fbem-14610	200	44	post	post	ADJ
fbem-14610	200	45	-	-	ADJ
fbem-14610	200	46	pandemic	pandemic	ADJ
fbem-14610	200	47	pvalue	pvalue	NOUN
fbem-14610	200	48	the	the	DET
fbem-14610	200	49	result	result	NOUN
fbem-14610	200	50	of	of	ADP
fbem-14610	200	51	the	the	DET
fbem-14610	200	52	hsi	hsi	PROPN
fbem-14610	200	53	(	(	PUNCT
fbem-14610	200	54	y	y	PROPN
fbem-14610	200	55	)	)	PUNCT
fbem-14610	200	56	.	.	PUNCT
fbem-14610	201	1	constant	constant	ADJ
fbem-14610	201	2	0.000189	0.000189	NUM
fbem-14610	201	3	0.547	0.547	NUM
fbem-14610	201	4	-0.000398	-0.000398	NOUN
fbem-14610	201	5	0.632	0.632	NUM
fbem-14610	201	6	the	the	DET
fbem-14610	201	7	weekly	weekly	ADJ
fbem-14610	201	8	returns	return	NOUN
fbem-14610	201	9	of	of	ADP
fbem-14610	201	10	the	the	DET
fbem-14610	201	11	hsi	hsi	PROPN
fbem-14610	201	12	with	with	ADP
fbem-14610	201	13	first	first	ADJ
fbem-14610	201	14	-	-	PUNCT
fbem-14610	201	15	order	order	NOUN
fbem-14610	201	16	lag	lag	VERB
fbem-14610	201	17	0.966446	0.966446	NUM
fbem-14610	201	18	0.000	0.000	NUM
fbem-14610	201	19	0.860520	0.860520	NUM
fbem-14610	201	20	0.000	0.000	NUM
fbem-14610	201	21	the	the	DET
fbem-14610	201	22	weekly	weekly	ADJ
fbem-14610	201	23	returns	return	NOUN
fbem-14610	201	24	of	of	ADP
fbem-14610	201	25	the	the	DET
fbem-14610	201	26	csi	csi	ADJ
fbem-14610	201	27	300	300	NUM
fbem-14610	201	28	with	with	ADP
fbem-14610	201	29	first	first	ADJ
fbem-14610	201	30	-	-	PUNCT
fbem-14610	201	31	order	order	NOUN
fbem-14610	201	32	lag	lag	NOUN
fbem-14610	201	33	-0.048903	-0.048903	NOUN
fbem-14610	201	34	0.009	0.009	NUM
fbem-14610	201	35	-0.003680	-0.003680	NOUN
fbem-14610	201	36	0.954	0.954	NUM
fbem-14610	201	37	the	the	DET
fbem-14610	201	38	weekly	weekly	ADJ
fbem-14610	201	39	returns	return	NOUN
fbem-14610	201	40	of	of	ADP
fbem-14610	201	41	the	the	DET
fbem-14610	201	42	hsi	hsi	PROPN
fbem-14610	201	43	with	with	ADP
fbem-14610	201	44	second	second	ADJ
fbem-14610	201	45	-	-	PUNCT
fbem-14610	201	46	order	order	NOUN
fbem-14610	201	47	lag	lag	NOUN
fbem-14610	201	48	-0.184018	-0.184018	NOUN
fbem-14610	201	49	0.000	0.000	NUM
fbem-14610	201	50	-0.073881	-0.073881	NOUN
fbem-14610	201	51	0.163	0.163	NUM
fbem-14610	201	52	the	the	DET
fbem-14610	201	53	weekly	weekly	ADJ
fbem-14610	201	54	returns	return	NOUN
fbem-14610	201	55	of	of	ADP
fbem-14610	201	56	the	the	DET
fbem-14610	201	57	csi	csi	ADJ
fbem-14610	201	58	300	300	NUM
fbem-14610	201	59	with	with	ADP
fbem-14610	201	60	second	second	ADJ
fbem-14610	201	61	-	-	PUNCT
fbem-14610	201	62	order	order	NOUN
fbem-14610	201	63	lag	lag	VERB
fbem-14610	201	64	0.044479	0.044479	NUM
fbem-14610	201	65	0.017	0.017	NUM
fbem-14610	201	66	-0.037597	-0.037597	NOUN
fbem-14610	201	67	0.558	0.558	NUM
fbem-14610	201	68	csi	csi	ADJ
fbem-14610	201	69	300	300	NUM
fbem-14610	201	70	(	(	PUNCT
fbem-14610	201	71	x	x	NOUN
fbem-14610	201	72	)	)	PUNCT
fbem-14610	201	73	results	result	VERB
fbem-14610	201	74	the	the	DET
fbem-14610	201	75	result	result	NOUN
fbem-14610	201	76	of	of	ADP
fbem-14610	201	77	the	the	DET
fbem-14610	201	78	hsi	hsi	PROPN
fbem-14610	201	79	(	(	PUNCT
fbem-14610	201	80	y	y	PROPN
fbem-14610	201	81	)	)	PUNCT
fbem-14610	201	82	.	.	PUNCT
fbem-14610	202	1	pre	pre	ADJ
fbem-14610	202	2	-	-	ADJ
fbem-14610	202	3	pandemic	pandemic	ADJ
fbem-14610	202	4	coefficients	coefficient	NOUN
fbem-14610	202	5	pre	pre	ADJ
fbem-14610	202	6	-	-	ADJ
fbem-14610	202	7	pandemic	pandemic	ADJ
fbem-14610	202	8	pvalue	pvalue	NOUN
fbem-14610	202	9	post	post	ADJ
fbem-14610	202	10	-	-	ADJ
fbem-14610	202	11	pandemic	pandemic	ADJ
fbem-14610	202	12	coefficients	coefficient	NOUN
fbem-14610	202	13	post	post	ADJ
fbem-14610	202	14	-	-	ADJ
fbem-14610	202	15	pandemic	pandemic	ADJ
fbem-14610	202	16	pvalue	pvalue	NOUN
fbem-14610	202	17	constant	constant	ADJ
fbem-14610	202	18	0.000199	0.000199	NUM
fbem-14610	202	19	0.627	0.627	NUM
fbem-14610	202	20	0.000063	0.000063	NUM
fbem-14610	202	21	0.926	0.926	NUM
fbem-14610	202	22	the	the	DET
fbem-14610	202	23	weekly	weekly	ADJ
fbem-14610	202	24	returns	return	NOUN
fbem-14610	202	25	of	of	ADP
fbem-14610	202	26	the	the	DET
fbem-14610	202	27	hsi	hsi	PROPN
fbem-14610	202	28	with	with	ADP
fbem-14610	202	29	first	first	ADJ
fbem-14610	202	30	-	-	PUNCT
fbem-14610	202	31	order	order	NOUN
fbem-14610	202	32	lag	lag	VERB
fbem-14610	202	33	0.036759	0.036759	NUM
fbem-14610	202	34	0.250	0.250	NUM
fbem-14610	202	35	-0.052198	-0.052198	NOUN
fbem-14610	202	36	0.229	0.229	NUM
fbem-14610	202	37	the	the	DET
fbem-14610	202	38	weekly	weekly	ADJ
fbem-14610	202	39	returns	return	NOUN
fbem-14610	202	40	of	of	ADP
fbem-14610	202	41	the	the	DET
fbem-14610	202	42	csi	csi	ADJ
fbem-14610	202	43	300	300	NUM
fbem-14610	202	44	with	with	ADP
fbem-14610	202	45	first	first	ADJ
fbem-14610	202	46	-	-	PUNCT
fbem-14610	202	47	order	order	NOUN
fbem-14610	202	48	lag	lag	VERB
fbem-14610	202	49	0.910438	0.910438	NUM
fbem-14610	202	50	0.000	0.000	NUM
fbem-14610	202	51	0.954463	0.954463	NUM
fbem-14610	202	52	0.000	0.000	NUM
fbem-14610	202	53	the	the	DET
fbem-14610	202	54	weekly	weekly	ADJ
fbem-14610	202	55	returns	return	NOUN
fbem-14610	202	56	of	of	ADP
fbem-14610	202	57	the	the	DET
fbem-14610	202	58	hsi	hsi	PROPN
fbem-14610	202	59	with	with	ADP
fbem-14610	202	60	second	second	ADJ
fbem-14610	202	61	-	-	PUNCT
fbem-14610	202	62	order	order	NOUN
fbem-14610	202	63	lag	lag	NOUN
fbem-14610	202	64	-0.015005	-0.015005	NOUN
fbem-14610	202	65	0.639	0.639	NUM
fbem-14610	202	66	0.089022	0.089022	NUM
fbem-14610	202	67	0.040	0.040	NUM
fbem-14610	202	68	the	the	DET
fbem-14610	202	69	weekly	weekly	ADJ
fbem-14610	202	70	returns	return	NOUN
fbem-14610	202	71	of	of	ADP
fbem-14610	202	72	the	the	DET
fbem-14610	202	73	csi	csi	ADJ
fbem-14610	202	74	300	300	NUM
fbem-14610	202	75	with	with	ADP
fbem-14610	202	76	second	second	ADJ
fbem-14610	202	77	-	-	PUNCT
fbem-14610	202	78	order	order	NOUN
fbem-14610	202	79	lag	lag	NOUN
fbem-14610	202	80	-0.152519	-0.152519	NOUN
fbem-14610	202	81	0.000	0.000	NUM
fbem-14610	202	82	-0.218300	-0.218300	NOUN
fbem-14610	202	83	0.000	0.000	NUM
fbem-14610	202	84	94	94	NUM
fbem-14610	203	1	the	the	DET
fbem-14610	203	2	p	p	NOUN
fbem-14610	203	3	-	-	PUNCT
fbem-14610	203	4	value	value	NOUN
fbem-14610	203	5	in	in	ADP
fbem-14610	203	6	the	the	DET
fbem-14610	203	7	second	second	ADJ
fbem-14610	203	8	row	row	NOUN
fbem-14610	203	9	and	and	CCONJ
fbem-14610	203	10	third	third	ADJ
fbem-14610	203	11	column	column	NOUN
fbem-14610	203	12	is	be	AUX
fbem-14610	203	13	0.2527	0.2527	NUM
fbem-14610	203	14	>	>	PUNCT
fbem-14610	203	15	0.05	0.05	NUM
fbem-14610	203	16	,	,	PUNCT
fbem-14610	203	17	indicating	indicate	VERB
fbem-14610	203	18	a	a	DET
fbem-14610	203	19	failure	failure	NOUN
fbem-14610	203	20	to	to	PART
fbem-14610	203	21	reject	reject	VERB
fbem-14610	203	22	the	the	DET
fbem-14610	203	23	null	null	ADJ
fbem-14610	203	24	hypothesis	hypothesis	NOUN
fbem-14610	203	25	,	,	PUNCT
fbem-14610	203	26	suggesting	suggest	VERB
fbem-14610	203	27	that	that	SCONJ
fbem-14610	203	28	the	the	DET
fbem-14610	203	29	csi	csi	PROPN
fbem-14610	203	30	300	300	NUM
fbem-14610	203	31	(	(	PUNCT
fbem-14610	203	32	'	'	PUNCT
fbem-14610	203	33	x	x	X
fbem-14610	203	34	'	'	PUNCT
fbem-14610	203	35	)	)	PUNCT
fbem-14610	203	36	does	do	AUX
fbem-14610	203	37	not	not	PART
fbem-14610	203	38	have	have	VERB
fbem-14610	203	39	a	a	DET
fbem-14610	203	40	granger	granger	PROPN
fbem-14610	203	41	causal	causal	PROPN
fbem-14610	203	42	relationship	relationship	NOUN
fbem-14610	203	43	with	with	ADP
fbem-14610	203	44	the	the	DET
fbem-14610	203	45	hsi	hsi	PROPN
fbem-14610	203	46	(	(	PUNCT
fbem-14610	203	47	'	'	PUNCT
fbem-14610	203	48	y	y	NOUN
fbem-14610	203	49	'	'	PUNCT
fbem-14610	203	50	)	)	PUNCT
fbem-14610	203	51	.	.	PUNCT
fbem-14610	204	1	in	in	ADP
fbem-14610	204	2	the	the	DET
fbem-14610	204	3	third	third	ADJ
fbem-14610	204	4	row	row	NOUN
fbem-14610	204	5	and	and	CCONJ
fbem-14610	204	6	second	second	ADJ
fbem-14610	204	7	column	column	NOUN
fbem-14610	204	8	,	,	PUNCT
fbem-14610	204	9	the	the	DET
fbem-14610	204	10	p	p	NOUN
fbem-14610	204	11	-	-	PUNCT
fbem-14610	204	12	value	value	NOUN
fbem-14610	204	13	is	be	AUX
fbem-14610	204	14	0.009	0.009	NUM
fbem-14610	204	15	<	<	X
fbem-14610	204	16	0.05	0.05	NUM
fbem-14610	204	17	,	,	PUNCT
fbem-14610	204	18	indicating	indicate	VERB
fbem-14610	204	19	the	the	DET
fbem-14610	204	20	rejection	rejection	NOUN
fbem-14610	204	21	of	of	ADP
fbem-14610	204	22	the	the	DET
fbem-14610	204	23	null	null	ADJ
fbem-14610	204	24	hypothesis	hypothesis	NOUN
fbem-14610	204	25	,	,	PUNCT
fbem-14610	204	26	suggesting	suggest	VERB
fbem-14610	204	27	a	a	DET
fbem-14610	204	28	granger	granger	PROPN
fbem-14610	204	29	causal	causal	PROPN
fbem-14610	204	30	relationship	relationship	NOUN
fbem-14610	204	31	from	from	ADP
fbem-14610	204	32	the	the	DET
fbem-14610	204	33	hsi	hsi	PROPN
fbem-14610	204	34	(	(	PUNCT
fbem-14610	204	35	'	'	PUNCT
fbem-14610	204	36	x	x	X
fbem-14610	204	37	'	'	PUNCT
fbem-14610	204	38	)	)	PUNCT
fbem-14610	204	39	to	to	ADP
fbem-14610	204	40	the	the	DET
fbem-14610	204	41	csi	csi	ADJ
fbem-14610	204	42	300	300	NUM
fbem-14610	204	43	(	(	PUNCT
fbem-14610	204	44	'	'	PUNCT
fbem-14610	204	45	y	y	NOUN
fbem-14610	204	46	'	'	PUNCT
fbem-14610	204	47	)	)	PUNCT
fbem-14610	204	48	.	.	PUNCT
fbem-14610	205	1	4.3	4.3	NUM
fbem-14610	205	2	.	.	PUNCT
fbem-14610	205	3	var	var	PROPN
fbem-14610	205	4	model	model	PROPN
fbem-14610	205	5	empirical	empirical	ADJ
fbem-14610	205	6	study	study	NOUN
fbem-14610	205	7	the	the	DET
fbem-14610	205	8	var	var	PROPN
fbem-14610	205	9	model	model	NOUN
fbem-14610	205	10	,	,	PUNCT
fbem-14610	205	11	excluding	exclude	VERB
fbem-14610	205	12	contemporaneous	contemporaneous	ADJ
fbem-14610	205	13	variables	variable	NOUN
fbem-14610	205	14	such	such	ADJ
fbem-14610	205	15	as	as	ADP
fbem-14610	205	16	interfering	interfere	VERB
fbem-14610	205	17	factors	factor	NOUN
fbem-14610	205	18	,	,	PUNCT
fbem-14610	205	19	has	have	AUX
fbem-14610	205	20	played	play	VERB
fbem-14610	205	21	a	a	DET
fbem-14610	205	22	facilitating	facilitate	VERB
fbem-14610	205	23	role	role	NOUN
fbem-14610	205	24	in	in	ADP
fbem-14610	205	25	studying	study	VERB
fbem-14610	205	26	the	the	DET
fbem-14610	205	27	interrelationship	interrelationship	NOUN
fbem-14610	205	28	between	between	ADP
fbem-14610	205	29	the	the	DET
fbem-14610	205	30	returns	return	NOUN
fbem-14610	205	31	of	of	ADP
fbem-14610	205	32	the	the	DET
fbem-14610	205	33	csi	csi	ADJ
fbem-14610	205	34	300	300	NUM
fbem-14610	205	35	and	and	CCONJ
fbem-14610	205	36	the	the	DET
fbem-14610	205	37	hsi	hsi	PROPN
fbem-14610	205	38	.	.	PUNCT
fbem-14610	206	1	following	follow	VERB
fbem-14610	206	2	the	the	DET
fbem-14610	206	3	conclusion	conclusion	NOUN
fbem-14610	206	4	of	of	ADP
fbem-14610	206	5	the	the	DET
fbem-14610	206	6	granger	granger	PROPN
fbem-14610	206	7	causality	causality	PROPN
fbem-14610	206	8	test	test	NOUN
fbem-14610	206	9	,	,	PUNCT
fbem-14610	206	10	empirical	empirical	ADJ
fbem-14610	206	11	research	research	NOUN
fbem-14610	206	12	was	be	AUX
fbem-14610	206	13	conducted	conduct	VERB
fbem-14610	206	14	using	use	VERB
fbem-14610	206	15	the	the	DET
fbem-14610	206	16	var	var	NOUN
fbem-14610	206	17	model	model	NOUN
fbem-14610	206	18	to	to	PART
fbem-14610	206	19	demonstrate	demonstrate	VERB
fbem-14610	206	20	the	the	DET
fbem-14610	206	21	contagion	contagion	NOUN
fbem-14610	206	22	effect	effect	NOUN
fbem-14610	206	23	between	between	ADP
fbem-14610	206	24	the	the	DET
fbem-14610	206	25	chinese	chinese	ADJ
fbem-14610	206	26	mainland	mainland	NOUN
fbem-14610	206	27	a	a	DET
fbem-14610	206	28	-	-	PUNCT
fbem-14610	206	29	share	share	NOUN
fbem-14610	206	30	market	market	NOUN
fbem-14610	206	31	and	and	CCONJ
fbem-14610	206	32	the	the	DET
fbem-14610	206	33	hong	hong	PROPN
fbem-14610	206	34	kong	kong	PROPN
fbem-14610	206	35	stock	stock	NOUN
fbem-14610	206	36	market	market	NOUN
fbem-14610	206	37	,	,	PUNCT
fbem-14610	206	38	and	and	CCONJ
fbem-14610	206	39	to	to	PART
fbem-14610	206	40	forecast	forecast	VERB
fbem-14610	206	41	the	the	DET
fbem-14610	206	42	time	time	NOUN
fbem-14610	206	43	series	series	PROPN
fbem-14610	206	44	systems	system	NOUN
fbem-14610	206	45	of	of	ADP
fbem-14610	206	46	both	both	DET
fbem-14610	206	47	regions	region	NOUN
fbem-14610	206	48	.	.	PUNCT
fbem-14610	207	1	below	below	ADP
fbem-14610	207	2	presents	present	VERB
fbem-14610	207	3	the	the	DET
fbem-14610	207	4	weekly	weekly	ADJ
fbem-14610	207	5	var	var	NOUN
fbem-14610	207	6	model	model	NOUN
fbem-14610	207	7	results	result	NOUN
fbem-14610	207	8	for	for	ADP
fbem-14610	207	9	the	the	DET
fbem-14610	207	10	chinese	chinese	ADJ
fbem-14610	207	11	mainland	mainland	NOUN
fbem-14610	207	12	a	a	DET
fbem-14610	207	13	-	-	PUNCT
fbem-14610	207	14	share	share	NOUN
fbem-14610	207	15	market	market	NOUN
fbem-14610	207	16	and	and	CCONJ
fbem-14610	207	17	the	the	DET
fbem-14610	207	18	hong	hong	PROPN
fbem-14610	207	19	kong	kong	PROPN
fbem-14610	207	20	stock	stock	NOUN
fbem-14610	207	21	market	market	NOUN
fbem-14610	207	22	before	before	ADP
fbem-14610	207	23	and	and	CCONJ
fbem-14610	207	24	after	after	ADP
fbem-14610	207	25	the	the	DET
fbem-14610	207	26	pandemic	pandemic	NOUN
fbem-14610	207	27	:	:	PUNCT
fbem-14610	207	28	observing	observe	VERB
fbem-14610	207	29	that	that	SCONJ
fbem-14610	207	30	the	the	DET
fbem-14610	207	31	p	p	NOUN
fbem-14610	207	32	-	-	PUNCT
fbem-14610	207	33	values	value	NOUN
fbem-14610	207	34	of	of	ADP
fbem-14610	207	35	the	the	DET
fbem-14610	207	36	autoregressive	autoregressive	ADJ
fbem-14610	207	37	coefficients	coefficient	NOUN
fbem-14610	207	38	are	be	AUX
fbem-14610	207	39	less	less	ADJ
fbem-14610	207	40	than	than	ADP
fbem-14610	207	41	5	5	NUM
fbem-14610	207	42	%	%	NOUN
fbem-14610	207	43	,	,	PUNCT
fbem-14610	207	44	the	the	DET
fbem-14610	207	45	var	var	NOUN
fbem-14610	207	46	model	model	NOUN
fbem-14610	207	47	is	be	AUX
fbem-14610	207	48	significant	significant	ADJ
fbem-14610	207	49	at	at	ADP
fbem-14610	207	50	a	a	DET
fbem-14610	207	51	5	5	NUM
fbem-14610	207	52	%	%	NOUN
fbem-14610	207	53	significance	significance	NOUN
fbem-14610	207	54	level	level	NOUN
fbem-14610	207	55	.	.	PUNCT
fbem-14610	208	1	based	base	VERB
fbem-14610	208	2	on	on	ADP
fbem-14610	208	3	the	the	DET
fbem-14610	208	4	aforementioned	aforementioned	ADJ
fbem-14610	208	5	regression	regression	NOUN
fbem-14610	208	6	results	result	NOUN
fbem-14610	208	7	,	,	PUNCT
fbem-14610	208	8	assuming	assume	VERB
fbem-14610	208	9	the	the	DET
fbem-14610	208	10	weekly	weekly	ADJ
fbem-14610	208	11	returns	return	NOUN
fbem-14610	208	12	of	of	ADP
fbem-14610	208	13	the	the	DET
fbem-14610	208	14	hsi	hsi	PROPN
fbem-14610	208	15	as	as	ADP
fbem-14610	208	16	'	'	PUNCT
fbem-14610	208	17	y	y	NOUN
fbem-14610	208	18	'	'	PUNCT
fbem-14610	208	19	and	and	CCONJ
fbem-14610	208	20	the	the	DET
fbem-14610	208	21	weekly	weekly	ADJ
fbem-14610	208	22	returns	return	NOUN
fbem-14610	208	23	of	of	ADP
fbem-14610	208	24	the	the	DET
fbem-14610	208	25	csi	csi	ADJ
fbem-14610	208	26	300	300	NUM
fbem-14610	208	27	as	as	ADP
fbem-14610	208	28	'	'	PUNCT
fbem-14610	208	29	x	x	X
fbem-14610	208	30	'	'	PUNCT
fbem-14610	208	31	,	,	PUNCT
fbem-14610	208	32	the	the	DET
fbem-14610	208	33	constructed	construct	VERB
fbem-14610	208	34	autoregressive	autoregressive	ADJ
fbem-14610	208	35	model	model	NOUN
fbem-14610	208	36	for	for	ADP
fbem-14610	208	37	the	the	DET
fbem-14610	208	38	hsi	hsi	PROPN
fbem-14610	208	39	's	's	PART
fbem-14610	208	40	weekly	weekly	ADJ
fbem-14610	208	41	returns	return	NOUN
fbem-14610	208	42	before	before	ADP
fbem-14610	208	43	the	the	DET
fbem-14610	208	44	pandemic	pandemic	NOUN
fbem-14610	208	45	,	,	PUNCT
fbem-14610	208	46	spanning	span	VERB
fbem-14610	208	47	from	from	ADP
fbem-14610	208	48	2010	2010	NUM
fbem-14610	208	49	to	to	ADP
fbem-14610	208	50	2019	2019	NUM
fbem-14610	208	51	,	,	PUNCT
fbem-14610	208	52	is	be	AUX
fbem-14610	208	53	as	as	SCONJ
fbem-14610	208	54	follows	follow	VERB
fbem-14610	208	55	:	:	PUNCT
fbem-14610	208	56	𝑌	𝑌	PROPN
fbem-14610	208	57	0.966446𝑌	0.966446𝑌	X
fbem-14610	208	58	0.048903𝑋	0.048903𝑋	NUM
fbem-14610	209	1	0.184018𝑌	0.184018𝑌	NUM
fbem-14610	209	2	0.044479𝑋	0.044479𝑋	NUM
fbem-14610	209	3	,	,	PUNCT
fbem-14610	209	4	the	the	DET
fbem-14610	209	5	autoregressive	autoregressive	ADJ
fbem-14610	209	6	model	model	NOUN
fbem-14610	209	7	for	for	ADP
fbem-14610	209	8	the	the	DET
fbem-14610	209	9	weekly	weekly	ADJ
fbem-14610	209	10	returns	return	NOUN
fbem-14610	209	11	of	of	ADP
fbem-14610	209	12	the	the	DET
fbem-14610	209	13	csi	csi	PROPN
fbem-14610	209	14	300	300	NUM
fbem-14610	209	15	from	from	ADP
fbem-14610	209	16	2010	2010	NUM
fbem-14610	209	17	to	to	ADP
fbem-14610	209	18	2019	2019	NUM
fbem-14610	209	19	is	be	AUX
fbem-14610	209	20	as	as	SCONJ
fbem-14610	209	21	follows	follow	VERB
fbem-14610	209	22	:	:	PUNCT
fbem-14610	209	23	𝑋	𝑋	PROPN
fbem-14610	209	24	0.910438𝑋	0.910438𝑋	X
fbem-14610	209	25	0.152519𝑋	0.152519𝑋	X
fbem-14610	209	26	,	,	PUNCT
fbem-14610	209	27	during	during	ADP
fbem-14610	209	28	the	the	DET
fbem-14610	209	29	pandemic	pandemic	NOUN
fbem-14610	209	30	from	from	ADP
fbem-14610	209	31	2020	2020	NUM
fbem-14610	209	32	to	to	ADP
fbem-14610	209	33	2022	2022	NUM
fbem-14610	209	34	,	,	PUNCT
fbem-14610	209	35	the	the	DET
fbem-14610	209	36	autoregressive	autoregressive	ADJ
fbem-14610	209	37	model	model	NOUN
fbem-14610	209	38	for	for	ADP
fbem-14610	209	39	the	the	DET
fbem-14610	209	40	weekly	weekly	ADJ
fbem-14610	209	41	returns	return	NOUN
fbem-14610	209	42	of	of	ADP
fbem-14610	209	43	the	the	DET
fbem-14610	209	44	hsi	hsi	PROPN
fbem-14610	209	45	is	be	AUX
fbem-14610	209	46	as	as	SCONJ
fbem-14610	209	47	follows	follow	VERB
fbem-14610	209	48	:	:	PUNCT
fbem-14610	209	49	𝑌	𝑌	PROPN
fbem-14610	209	50	0.860520𝑌	0.860520𝑌	NUM
fbem-14610	209	51	,	,	PUNCT
fbem-14610	209	52	during	during	ADP
fbem-14610	209	53	the	the	DET
fbem-14610	209	54	pandemic	pandemic	NOUN
fbem-14610	209	55	from	from	ADP
fbem-14610	209	56	2020	2020	NUM
fbem-14610	209	57	to	to	ADP
fbem-14610	209	58	2022	2022	NUM
fbem-14610	209	59	,	,	PUNCT
fbem-14610	209	60	the	the	DET
fbem-14610	209	61	autoregressive	autoregressive	ADJ
fbem-14610	209	62	model	model	NOUN
fbem-14610	209	63	for	for	ADP
fbem-14610	209	64	the	the	DET
fbem-14610	209	65	weekly	weekly	ADJ
fbem-14610	209	66	returns	return	NOUN
fbem-14610	209	67	of	of	ADP
fbem-14610	209	68	the	the	DET
fbem-14610	209	69	csi	csi	ADJ
fbem-14610	209	70	300	300	NUM
fbem-14610	209	71	is	be	AUX
fbem-14610	209	72	as	as	SCONJ
fbem-14610	209	73	follows	follow	VERB
fbem-14610	209	74	:	:	PUNCT
fbem-14610	209	75	through	through	ADP
fbem-14610	209	76	empirical	empirical	ADJ
fbem-14610	209	77	analysis	analysis	NOUN
fbem-14610	209	78	of	of	ADP
fbem-14610	209	79	the	the	DET
fbem-14610	209	80	daily	daily	ADJ
fbem-14610	209	81	,	,	PUNCT
fbem-14610	209	82	weekly	weekly	ADJ
fbem-14610	209	83	,	,	PUNCT
fbem-14610	209	84	and	and	CCONJ
fbem-14610	209	85	monthly	monthly	ADJ
fbem-14610	209	86	returns	return	NOUN
fbem-14610	209	87	of	of	ADP
fbem-14610	209	88	the	the	DET
fbem-14610	209	89	csi	csi	ADJ
fbem-14610	209	90	300	300	NUM
fbem-14610	209	91	and	and	CCONJ
fbem-14610	209	92	the	the	DET
fbem-14610	209	93	hsi	hsi	PROPN
fbem-14610	209	94	from	from	ADP
fbem-14610	209	95	2010	2010	NUM
fbem-14610	209	96	to	to	ADP
fbem-14610	209	97	2022	2022	NUM
fbem-14610	209	98	,	,	PUNCT
fbem-14610	209	99	it	it	PRON
fbem-14610	209	100	is	be	AUX
fbem-14610	209	101	observed	observe	VERB
fbem-14610	209	102	that	that	SCONJ
fbem-14610	209	103	the	the	DET
fbem-14610	209	104	csi	csi	PROPN
fbem-14610	209	105	300	300	NUM
fbem-14610	209	106	can	can	AUX
fbem-14610	209	107	account	account	VERB
fbem-14610	209	108	for	for	ADP
fbem-14610	209	109	the	the	DET
fbem-14610	209	110	variations	variation	NOUN
fbem-14610	209	111	in	in	ADP
fbem-14610	209	112	the	the	DET
fbem-14610	209	113	hsi	hsi	PROPN
fbem-14610	209	114	.	.	PUNCT
fbem-14610	210	1	this	this	PRON
fbem-14610	210	2	validates	validate	VERB
fbem-14610	210	3	that	that	SCONJ
fbem-14610	210	4	from	from	ADP
fbem-14610	210	5	2010	2010	NUM
fbem-14610	210	6	to	to	ADP
fbem-14610	210	7	2022	2022	NUM
fbem-14610	210	8	,	,	PUNCT
fbem-14610	210	9	the	the	DET
fbem-14610	210	10	csi	csi	PROPN
fbem-14610	210	11	300	300	NUM
fbem-14610	210	12	has	have	AUX
fbem-14610	210	13	influenced	influence	VERB
fbem-14610	210	14	the	the	DET
fbem-14610	210	15	hsi	hsi	PROPN
fbem-14610	210	16	.	.	PUNCT
fbem-14610	211	1	in	in	ADP
fbem-14610	211	2	the	the	DET
fbem-14610	211	3	monthly	monthly	ADJ
fbem-14610	211	4	var	var	NOUN
fbem-14610	211	5	model	model	NOUN
fbem-14610	211	6	results	result	NOUN
fbem-14610	211	7	,	,	PUNCT
fbem-14610	211	8	it	it	PRON
fbem-14610	211	9	's	be	AUX
fbem-14610	211	10	evident	evident	ADJ
fbem-14610	211	11	that	that	SCONJ
fbem-14610	211	12	the	the	DET
fbem-14610	211	13	csi	csi	ADJ
fbem-14610	211	14	300	300	NUM
fbem-14610	211	15	returns	return	NOUN
fbem-14610	211	16	exert	exert	VERB
fbem-14610	211	17	the	the	DET
fbem-14610	211	18	most	most	ADV
fbem-14610	211	19	significant	significant	ADJ
fbem-14610	211	20	influence	influence	NOUN
fbem-14610	211	21	on	on	ADP
fbem-14610	211	22	the	the	DET
fbem-14610	211	23	hsi	hsi	PROPN
fbem-14610	211	24	returns	return	NOUN
fbem-14610	211	25	.	.	PUNCT
fbem-14610	212	1	the	the	DET
fbem-14610	212	2	relationship	relationship	NOUN
fbem-14610	212	3	between	between	ADP
fbem-14610	212	4	the	the	DET
fbem-14610	212	5	two	two	NUM
fbem-14610	212	6	can	can	AUX
fbem-14610	212	7	be	be	AUX
fbem-14610	212	8	represented	represent	VERB
fbem-14610	212	9	as	as	ADP
fbem-14610	212	10	:	:	PUNCT
fbem-14610	212	11	𝑌	𝑌	PROPN
fbem-14610	212	12	1.027407𝑌	1.027407𝑌	NUM
fbem-14610	212	13	0.066210𝑋	0.066210𝑋	NUM
fbem-14610	212	14	0.076892𝑌	0.076892𝑌	NUM
fbem-14610	212	15	0.062597𝑋	0.062597𝑋	NUM
fbem-14610	212	16	.	.	PUNCT
fbem-14610	213	1	before	before	ADP
fbem-14610	213	2	the	the	DET
fbem-14610	213	3	pandemic	pandemic	NOUN
fbem-14610	213	4	,	,	PUNCT
fbem-14610	213	5	from	from	ADP
fbem-14610	213	6	2010	2010	NUM
fbem-14610	213	7	to	to	ADP
fbem-14610	213	8	the	the	DET
fbem-14610	213	9	end	end	NOUN
fbem-14610	213	10	of	of	ADP
fbem-14610	213	11	2019	2019	NUM
fbem-14610	213	12	,	,	PUNCT
fbem-14610	213	13	the	the	DET
fbem-14610	213	14	csi	csi	PROPN
fbem-14610	213	15	300	300	NUM
fbem-14610	213	16	was	be	AUX
fbem-14610	213	17	the	the	DET
fbem-14610	213	18	cause	cause	NOUN
fbem-14610	213	19	of	of	ADP
fbem-14610	213	20	variations	variation	NOUN
fbem-14610	213	21	in	in	ADP
fbem-14610	213	22	the	the	DET
fbem-14610	213	23	hsi	hsi	PROPN
fbem-14610	213	24	,	,	PUNCT
fbem-14610	213	25	while	while	SCONJ
fbem-14610	213	26	the	the	DET
fbem-14610	213	27	hsi	hsi	PROPN
fbem-14610	213	28	did	do	AUX
fbem-14610	213	29	not	not	PART
fbem-14610	213	30	have	have	VERB
fbem-14610	213	31	an	an	DET
fbem-14610	213	32	impact	impact	NOUN
fbem-14610	213	33	on	on	ADP
fbem-14610	213	34	the	the	DET
fbem-14610	213	35	csi	csi	PROPN
fbem-14610	213	36	300	300	NUM
fbem-14610	213	37	.	.	PUNCT
fbem-14610	214	1	however	however	ADV
fbem-14610	214	2	,	,	PUNCT
fbem-14610	214	3	during	during	ADP
fbem-14610	214	4	the	the	DET
fbem-14610	214	5	pandemic	pandemic	ADJ
fbem-14610	214	6	period	period	NOUN
fbem-14610	214	7	from	from	ADP
fbem-14610	214	8	2020	2020	NUM
fbem-14610	214	9	to	to	ADP
fbem-14610	214	10	the	the	DET
fbem-14610	214	11	end	end	NOUN
fbem-14610	214	12	of	of	ADP
fbem-14610	214	13	2022	2022	NUM
fbem-14610	214	14	,	,	PUNCT
fbem-14610	214	15	the	the	DET
fbem-14610	214	16	csi	csi	PROPN
fbem-14610	214	17	300	300	NUM
fbem-14610	214	18	ceased	cease	VERB
fbem-14610	214	19	to	to	PART
fbem-14610	214	20	be	be	AUX
fbem-14610	214	21	the	the	DET
fbem-14610	214	22	sole	sole	ADJ
fbem-14610	214	23	cause	cause	NOUN
fbem-14610	214	24	of	of	ADP
fbem-14610	214	25	variations	variation	NOUN
fbem-14610	214	26	in	in	ADP
fbem-14610	214	27	the	the	DET
fbem-14610	214	28	hsi	hsi	PROPN
fbem-14610	214	29	.	.	PUNCT
fbem-14610	215	1	instead	instead	ADV
fbem-14610	215	2	,	,	PUNCT
fbem-14610	215	3	the	the	DET
fbem-14610	215	4	hsi	hsi	PROPN
fbem-14610	215	5	began	begin	VERB
fbem-14610	215	6	to	to	PART
fbem-14610	215	7	influence	influence	VERB
fbem-14610	215	8	the	the	DET
fbem-14610	215	9	csi	csi	PROPN
fbem-14610	215	10	300	300	NUM
fbem-14610	215	11	.	.	PUNCT
fbem-14610	216	1	the	the	DET
fbem-14610	216	2	relationship	relationship	NOUN
fbem-14610	216	3	between	between	ADP
fbem-14610	216	4	the	the	DET
fbem-14610	216	5	two	two	NUM
fbem-14610	216	6	can	can	AUX
fbem-14610	216	7	be	be	AUX
fbem-14610	216	8	described	describe	VERB
fbem-14610	216	9	as𝑋	as𝑋	PROPN
fbem-14610	216	10	0.954463𝑋	0.954463𝑋	NUM
fbem-14610	216	11	0.089022𝑌	0.089022𝑌	X
fbem-14610	216	12	0.218300𝑋	0.218300𝑋	X
fbem-14610	216	13	.	.	PUNCT
fbem-14610	217	1	the	the	DET
fbem-14610	217	2	results	result	NOUN
fbem-14610	217	3	from	from	ADP
fbem-14610	217	4	the	the	DET
fbem-14610	217	5	var	var	PROPN
fbem-14610	217	6	model	model	NOUN
fbem-14610	217	7	analysis	analysis	NOUN
fbem-14610	217	8	align	align	VERB
fbem-14610	217	9	with	with	ADP
fbem-14610	217	10	the	the	DET
fbem-14610	217	11	findings	finding	NOUN
fbem-14610	217	12	of	of	ADP
fbem-14610	217	13	the	the	DET
fbem-14610	217	14	granger	granger	PROPN
fbem-14610	217	15	causality	causality	PROPN
fbem-14610	217	16	test	test	NOUN
fbem-14610	217	17	.	.	PUNCT
fbem-14610	218	1	4.4	4.4	NUM
fbem-14610	218	2	.	.	PUNCT
fbem-14610	219	1	contagion	contagion	NOUN
fbem-14610	219	2	effect	effect	NOUN
fbem-14610	219	3	analysis	analysis	NOUN
fbem-14610	219	4	4.4.1	4.4.1	NUM
fbem-14610	219	5	.	.	PUNCT
fbem-14610	220	1	from	from	ADP
fbem-14610	220	2	preand	preand	VERB
fbem-14610	220	3	post	post	ADJ
fbem-14610	220	4	-	-	ADJ
fbem-14610	220	5	pandemic	pandemic	ADJ
fbem-14610	220	6	perspectives	perspective	NOUN
fbem-14610	220	7	against	against	ADP
fbem-14610	220	8	the	the	DET
fbem-14610	220	9	backdrop	backdrop	NOUN
fbem-14610	220	10	of	of	ADP
fbem-14610	220	11	the	the	DET
fbem-14610	220	12	covid-19	covid-19	PROPN
fbem-14610	220	13	pandemic	pandemic	NOUN
fbem-14610	220	14	,	,	PUNCT
fbem-14610	220	15	a	a	DET
fbem-14610	220	16	comparative	comparative	ADJ
fbem-14610	220	17	study	study	NOUN
fbem-14610	220	18	was	be	AUX
fbem-14610	220	19	conducted	conduct	VERB
fbem-14610	220	20	on	on	ADP
fbem-14610	220	21	the	the	DET
fbem-14610	220	22	contagion	contagion	NOUN
fbem-14610	220	23	changes	change	NOUN
fbem-14610	220	24	before	before	ADP
fbem-14610	220	25	and	and	CCONJ
fbem-14610	220	26	during	during	ADP
fbem-14610	220	27	the	the	DET
fbem-14610	220	28	pandemic	pandemic	NOUN
fbem-14610	220	29	between	between	ADP
fbem-14610	220	30	the	the	DET
fbem-14610	220	31	csi	csi	PROPN
fbem-14610	220	32	300	300	NUM
fbem-14610	220	33	and	and	CCONJ
fbem-14610	220	34	the	the	DET
fbem-14610	220	35	hsi	hsi	PROPN
fbem-14610	220	36	.	.	PUNCT
fbem-14610	221	1	daily	daily	ADJ
fbem-14610	221	2	opening	opening	NOUN
fbem-14610	221	3	and	and	CCONJ
fbem-14610	221	4	closing	closing	NOUN
fbem-14610	221	5	price	price	NOUN
fbem-14610	221	6	data	datum	NOUN
fbem-14610	221	7	were	be	AUX
fbem-14610	221	8	analyzed	analyze	VERB
fbem-14610	221	9	for	for	ADP
fbem-14610	221	10	the	the	DET
fbem-14610	221	11	periods	period	NOUN
fbem-14610	221	12	:	:	PUNCT
fbem-14610	221	13	january	january	PROPN
fbem-14610	221	14	4	4	NUM
fbem-14610	221	15	,	,	PUNCT
fbem-14610	221	16	2010	2010	NUM
fbem-14610	221	17	,	,	PUNCT
fbem-14610	221	18	to	to	ADP
fbem-14610	221	19	january	january	PROPN
fbem-14610	221	20	23	23	NUM
fbem-14610	221	21	,	,	PUNCT
fbem-14610	221	22	2020	2020	NUM
fbem-14610	221	23	,	,	PUNCT
fbem-14610	221	24	representing	represent	VERB
fbem-14610	221	25	pre	pre	ADJ
fbem-14610	221	26	-	-	ADJ
fbem-14610	221	27	pandemic	pandemic	ADJ
fbem-14610	221	28	data	datum	NOUN
fbem-14610	221	29	,	,	PUNCT
fbem-14610	221	30	and	and	CCONJ
fbem-14610	221	31	february	february	PROPN
fbem-14610	221	32	3	3	NUM
fbem-14610	221	33	,	,	PUNCT
fbem-14610	221	34	2020	2020	NUM
fbem-14610	221	35	,	,	PUNCT
fbem-14610	221	36	to	to	ADP
fbem-14610	221	37	december	december	PROPN
fbem-14610	221	38	30	30	NUM
fbem-14610	221	39	,	,	PUNCT
fbem-14610	221	40	2022	2022	NUM
fbem-14610	221	41	,	,	PUNCT
fbem-14610	221	42	representing	represent	VERB
fbem-14610	221	43	the	the	DET
fbem-14610	221	44	pandemic	pandemic	ADJ
fbem-14610	221	45	period	period	NOUN
fbem-14610	221	46	.	.	PUNCT
fbem-14610	222	1	the	the	DET
fbem-14610	222	2	main	main	ADJ
fbem-14610	222	3	research	research	NOUN
fbem-14610	222	4	objectives	objective	NOUN
fbem-14610	222	5	aimed	aim	VERB
fbem-14610	222	6	to	to	PART
fbem-14610	222	7	observe	observe	VERB
fbem-14610	222	8	the	the	DET
fbem-14610	222	9	interconnection	interconnection	NOUN
fbem-14610	222	10	between	between	ADP
fbem-14610	222	11	the	the	DET
fbem-14610	222	12	hong	hong	PROPN
fbem-14610	222	13	kong	kong	PROPN
fbem-14610	222	14	and	and	CCONJ
fbem-14610	222	15	mainland	mainland	NOUN
fbem-14610	222	16	chinese	chinese	ADJ
fbem-14610	222	17	stock	stock	NOUN
fbem-14610	222	18	markets	market	NOUN
fbem-14610	222	19	during	during	ADP
fbem-14610	222	20	the	the	DET
fbem-14610	222	21	covid-19	covid-19	PROPN
fbem-14610	222	22	pandemic	pandemic	NOUN
fbem-14610	222	23	and	and	CCONJ
fbem-14610	222	24	compare	compare	VERB
fbem-14610	222	25	it	it	PRON
fbem-14610	222	26	with	with	ADP
fbem-14610	222	27	the	the	DET
fbem-14610	222	28	contagion	contagion	NOUN
fbem-14610	222	29	effect	effect	NOUN
fbem-14610	222	30	before	before	ADP
fbem-14610	222	31	the	the	DET
fbem-14610	222	32	pandemic	pandemic	NOUN
fbem-14610	222	33	.	.	PUNCT
fbem-14610	223	1	the	the	DET
fbem-14610	223	2	findings	finding	NOUN
fbem-14610	223	3	are	be	AUX
fbem-14610	223	4	summarized	summarize	VERB
fbem-14610	223	5	as	as	SCONJ
fbem-14610	223	6	follows	follow	VERB
fbem-14610	223	7	:	:	PUNCT
fbem-14610	223	8	(	(	PUNCT
fbem-14610	223	9	1	1	X
fbem-14610	223	10	)	)	PUNCT
fbem-14610	223	11	before	before	ADP
fbem-14610	223	12	the	the	DET
fbem-14610	223	13	launch	launch	NOUN
fbem-14610	223	14	of	of	ADP
fbem-14610	223	15	the	the	DET
fbem-14610	223	16	shanghai	shanghai	PROPN
fbem-14610	223	17	-	-	PUNCT
fbem-14610	223	18	hong	hong	PROPN
fbem-14610	223	19	kong	kong	PROPN
fbem-14610	223	20	stock	stock	PROPN
fbem-14610	223	21	connect	connect	PROPN
fbem-14610	223	22	,	,	PUNCT
fbem-14610	223	23	the	the	DET
fbem-14610	223	24	mainland	mainland	NOUN
fbem-14610	223	25	market	market	NOUN
fbem-14610	223	26	had	have	VERB
fbem-14610	223	27	a	a	DET
fbem-14610	223	28	certain	certain	ADJ
fbem-14610	223	29	influence	influence	NOUN
fbem-14610	223	30	on	on	ADP
fbem-14610	223	31	the	the	DET
fbem-14610	223	32	hong	hong	PROPN
fbem-14610	223	33	kong	kong	PROPN
fbem-14610	223	34	market	market	NOUN
fbem-14610	223	35	,	,	PUNCT
fbem-14610	223	36	showing	show	VERB
fbem-14610	223	37	a	a	DET
fbem-14610	223	38	unidirectional	unidirectional	ADJ
fbem-14610	223	39	granger	granger	PROPN
fbem-14610	223	40	causal	causal	PROPN
fbem-14610	223	41	relationship	relationship	NOUN
fbem-14610	223	42	from	from	ADP
fbem-14610	223	43	the	the	DET
fbem-14610	223	44	chinese	chinese	ADJ
fbem-14610	223	45	mainland	mainland	NOUN
fbem-14610	223	46	a	a	DET
fbem-14610	223	47	-	-	PUNCT
fbem-14610	223	48	share	share	NOUN
fbem-14610	223	49	market	market	NOUN
fbem-14610	223	50	to	to	ADP
fbem-14610	223	51	the	the	DET
fbem-14610	223	52	hong	hong	PROPN
fbem-14610	223	53	kong	kong	PROPN
fbem-14610	223	54	stock	stock	NOUN
fbem-14610	223	55	market	market	NOUN
fbem-14610	223	56	.	.	PUNCT
fbem-14610	224	1	(	(	PUNCT
fbem-14610	224	2	2	2	X
fbem-14610	224	3	)	)	PUNCT
fbem-14610	224	4	following	follow	VERB
fbem-14610	224	5	the	the	DET
fbem-14610	224	6	successive	successive	ADJ
fbem-14610	224	7	openings	opening	NOUN
fbem-14610	224	8	of	of	ADP
fbem-14610	224	9	the	the	DET
fbem-14610	224	10	shanghaihong	shanghaihong	PROPN
fbem-14610	224	11	kong	kong	PROPN
fbem-14610	224	12	and	and	CCONJ
fbem-14610	224	13	shenzhen	shenzhen	PROPN
fbem-14610	224	14	-	-	PUNCT
fbem-14610	224	15	hong	hong	PROPN
fbem-14610	224	16	kong	kong	PROPN
fbem-14610	224	17	stock	stock	PROPN
fbem-14610	224	18	connect	connect	NOUN
fbem-14610	224	19	programs	program	NOUN
fbem-14610	224	20	until	until	ADP
fbem-14610	224	21	pre	pre	ADJ
fbem-14610	224	22	-	-	ADJ
fbem-14610	224	23	pandemic	pandemic	ADJ
fbem-14610	224	24	times	time	NOUN
fbem-14610	224	25	,	,	PUNCT
fbem-14610	224	26	while	while	SCONJ
fbem-14610	224	27	the	the	DET
fbem-14610	224	28	granger	granger	PROPN
fbem-14610	224	29	causal	causal	PROPN
fbem-14610	224	30	relationship	relationship	NOUN
fbem-14610	224	31	remained	remain	VERB
fbem-14610	224	32	unchanged	unchanged	ADJ
fbem-14610	224	33	,	,	PUNCT
fbem-14610	224	34	the	the	DET
fbem-14610	224	35	external	external	ADJ
fbem-14610	224	36	market	market	NOUN
fbem-14610	224	37	environment	environment	NOUN
fbem-14610	224	38	gradually	gradually	ADV
fbem-14610	224	39	intensified	intensify	VERB
fbem-14610	224	40	its	its	PRON
fbem-14610	224	41	impact	impact	NOUN
fbem-14610	224	42	on	on	ADP
fbem-14610	224	43	the	the	DET
fbem-14610	224	44	mainland	mainland	NOUN
fbem-14610	224	45	market	market	NOUN
fbem-14610	224	46	.	.	PUNCT
fbem-14610	225	1	the	the	DET
fbem-14610	225	2	openings	opening	NOUN
fbem-14610	225	3	of	of	ADP
fbem-14610	225	4	the	the	DET
fbem-14610	225	5	stock	stock	NOUN
fbem-14610	225	6	connect	connect	NOUN
fbem-14610	225	7	programs	program	NOUN
fbem-14610	225	8	had	have	VERB
fbem-14610	225	9	a	a	DET
fbem-14610	225	10	notable	notable	ADJ
fbem-14610	225	11	effect	effect	NOUN
fbem-14610	225	12	on	on	ADP
fbem-14610	225	13	the	the	DET
fbem-14610	225	14	price	price	NOUN
fbem-14610	225	15	differences	difference	NOUN
fbem-14610	225	16	between	between	ADP
fbem-14610	225	17	the	the	DET
fbem-14610	225	18	mainland	mainland	NOUN
fbem-14610	225	19	a	a	DET
fbem-14610	225	20	-	-	PUNCT
fbem-14610	225	21	share	share	NOUN
fbem-14610	225	22	market	market	NOUN
fbem-14610	225	23	and	and	CCONJ
fbem-14610	225	24	the	the	DET
fbem-14610	225	25	hong	hong	PROPN
fbem-14610	225	26	kong	kong	PROPN
fbem-14610	225	27	stock	stock	NOUN
fbem-14610	225	28	market	market	NOUN
fbem-14610	225	29	,	,	PUNCT
fbem-14610	225	30	leading	lead	VERB
fbem-14610	225	31	to	to	ADP
fbem-14610	225	32	a	a	DET
fbem-14610	225	33	gradual	gradual	ADJ
fbem-14610	225	34	reduction	reduction	NOUN
fbem-14610	225	35	in	in	ADP
fbem-14610	225	36	these	these	DET
fbem-14610	225	37	differences	difference	NOUN
fbem-14610	225	38	.	.	PUNCT
fbem-14610	226	1	this	this	PRON
fbem-14610	226	2	indicates	indicate	VERB
fbem-14610	226	3	that	that	SCONJ
fbem-14610	226	4	the	the	DET
fbem-14610	226	5	openings	opening	NOUN
fbem-14610	226	6	of	of	ADP
fbem-14610	226	7	these	these	DET
fbem-14610	226	8	programs	program	NOUN
fbem-14610	226	9	effectively	effectively	ADV
fbem-14610	226	10	improved	improve	VERB
fbem-14610	226	11	the	the	DET
fbem-14610	226	12	market	market	NOUN
fbem-14610	226	13	segmentation	segmentation	NOUN
fbem-14610	226	14	between	between	ADP
fbem-14610	226	15	the	the	DET
fbem-14610	226	16	two	two	NUM
fbem-14610	226	17	regions	region	NOUN
fbem-14610	226	18	,	,	PUNCT
fbem-14610	226	19	tightening	tighten	VERB
fbem-14610	226	20	their	their	PRON
fbem-14610	226	21	market	market	NOUN
fbem-14610	226	22	connections	connection	NOUN
fbem-14610	226	23	.	.	PUNCT
fbem-14610	227	1	(	(	PUNCT
fbem-14610	227	2	3	3	X
fbem-14610	227	3	)	)	PUNCT
fbem-14610	227	4	during	during	ADP
fbem-14610	227	5	the	the	DET
fbem-14610	227	6	covid-19	covid-19	PROPN
fbem-14610	227	7	pandemic	pandemic	NOUN
fbem-14610	227	8	,	,	PUNCT
fbem-14610	227	9	the	the	DET
fbem-14610	227	10	trends	trend	NOUN
fbem-14610	227	11	in	in	ADP
fbem-14610	227	12	the	the	DET
fbem-14610	227	13	mainland	mainland	NOUN
fbem-14610	227	14	stock	stock	NOUN
fbem-14610	227	15	market	market	NOUN
fbem-14610	227	16	were	be	AUX
fbem-14610	227	17	generally	generally	ADV
fbem-14610	227	18	similar	similar	ADJ
fbem-14610	227	19	to	to	ADP
fbem-14610	227	20	those	those	PRON
fbem-14610	227	21	in	in	ADP
fbem-14610	227	22	the	the	DET
fbem-14610	227	23	hong	hong	PROPN
fbem-14610	227	24	kong	kong	PROPN
fbem-14610	227	25	stock	stock	NOUN
fbem-14610	227	26	market	market	NOUN
fbem-14610	227	27	,	,	PUNCT
fbem-14610	227	28	with	with	ADP
fbem-14610	227	29	the	the	DET
fbem-14610	227	30	hsi	hsi	PROPN
fbem-14610	227	31	displaying	display	VERB
fbem-14610	227	32	slightly	slightly	ADV
fbem-14610	227	33	larger	large	ADJ
fbem-14610	227	34	fluctuations	fluctuation	NOUN
fbem-14610	227	35	compared	compare	VERB
fbem-14610	227	36	to	to	ADP
fbem-14610	227	37	the	the	DET
fbem-14610	227	38	csi	csi	PROPN
fbem-14610	227	39	300	300	NUM
fbem-14610	227	40	.	.	PUNCT
fbem-14610	228	1	the	the	DET
fbem-14610	228	2	hong	hong	PROPN
fbem-14610	228	3	kong	kong	PROPN
fbem-14610	228	4	stock	stock	NOUN
fbem-14610	228	5	market	market	NOUN
fbem-14610	228	6	exhibited	exhibit	VERB
fbem-14610	228	7	a	a	DET
fbem-14610	228	8	unidirectional	unidirectional	ADJ
fbem-14610	228	9	granger	granger	PROPN
fbem-14610	228	10	causal	causal	PROPN
fbem-14610	228	11	relationship	relationship	NOUN
fbem-14610	228	12	with	with	ADP
fbem-14610	228	13	the	the	DET
fbem-14610	228	14	chinese	chinese	ADJ
fbem-14610	228	15	mainland	mainland	NOUN
fbem-14610	228	16	a	a	DET
fbem-14610	228	17	-	-	PUNCT
fbem-14610	228	18	share	share	NOUN
fbem-14610	228	19	market	market	NOUN
fbem-14610	228	20	.	.	PUNCT
fbem-14610	229	1	descriptive	descriptive	ADJ
fbem-14610	229	2	statistics	statistic	NOUN
fbem-14610	229	3	show	show	VERB
fbem-14610	229	4	that	that	SCONJ
fbem-14610	229	5	the	the	DET
fbem-14610	229	6	daily	daily	ADJ
fbem-14610	229	7	average	average	ADJ
fbem-14610	229	8	returns	return	NOUN
fbem-14610	229	9	of	of	ADP
fbem-14610	229	10	the	the	DET
fbem-14610	229	11	csi	csi	PROPN
fbem-14610	229	12	300	300	NUM
fbem-14610	229	13	,	,	PUNCT
fbem-14610	229	14	representing	represent	VERB
fbem-14610	229	15	the	the	DET
fbem-14610	229	16	mainland	mainland	NOUN
fbem-14610	229	17	market	market	NOUN
fbem-14610	229	18	,	,	PUNCT
fbem-14610	229	19	were	be	AUX
fbem-14610	229	20	slightly	slightly	ADV
fbem-14610	229	21	higher	high	ADJ
fbem-14610	229	22	than	than	ADP
fbem-14610	229	23	those	those	PRON
fbem-14610	229	24	of	of	ADP
fbem-14610	229	25	hong	hong	PROPN
fbem-14610	229	26	kong	kong	PROPN
fbem-14610	229	27	.	.	PUNCT
fbem-14610	230	1	overall	overall	ADV
fbem-14610	230	2	,	,	PUNCT
fbem-14610	230	3	the	the	DET
fbem-14610	230	4	mainland	mainland	NOUN
fbem-14610	230	5	market	market	NOUN
fbem-14610	230	6	remained	remain	VERB
fbem-14610	230	7	in	in	ADP
fbem-14610	230	8	a	a	DET
fbem-14610	230	9	positive	positive	ADJ
fbem-14610	230	10	return	return	NOUN
fbem-14610	230	11	state	state	NOUN
fbem-14610	230	12	,	,	PUNCT
fbem-14610	230	13	while	while	SCONJ
fbem-14610	230	14	the	the	DET
fbem-14610	230	15	hsi	hsi	PROPN
fbem-14610	230	16	recorded	record	VERB
fbem-14610	230	17	slightly	slightly	ADV
fbem-14610	230	18	negative	negative	ADJ
fbem-14610	230	19	average	average	ADJ
fbem-14610	230	20	daily	daily	ADJ
fbem-14610	230	21	returns	return	NOUN
fbem-14610	230	22	.	.	PUNCT
fbem-14610	231	1	since	since	SCONJ
fbem-14610	231	2	the	the	DET
fbem-14610	231	3	onset	onset	NOUN
fbem-14610	231	4	of	of	ADP
fbem-14610	231	5	the	the	DET
fbem-14610	231	6	covid-19	covid-19	PROPN
fbem-14610	231	7	pandemic	pandemic	NOUN
fbem-14610	231	8	,	,	PUNCT
fbem-14610	231	9	the	the	DET
fbem-14610	231	10	ties	tie	NOUN
fbem-14610	231	11	between	between	ADP
fbem-14610	231	12	mainland	mainland	NOUN
fbem-14610	231	13	china	china	PROPN
fbem-14610	231	14	and	and	CCONJ
fbem-14610	231	15	hong	hong	PROPN
fbem-14610	231	16	kong	kong	PROPN
fbem-14610	231	17	have	have	AUX
fbem-14610	231	18	strengthened	strengthen	VERB
fbem-14610	231	19	,	,	PUNCT
fbem-14610	231	20	showing	show	VERB
fbem-14610	231	21	a	a	DET
fbem-14610	231	22	notable	notable	ADJ
fbem-14610	231	23	increase	increase	NOUN
fbem-14610	231	24	in	in	ADP
fbem-14610	231	25	mutual	mutual	ADJ
fbem-14610	231	26	influence	influence	NOUN
fbem-14610	231	27	,	,	PUNCT
fbem-14610	231	28	resulting	result	VERB
fbem-14610	231	29	in	in	ADP
fbem-14610	231	30	overall	overall	ADJ
fbem-14610	231	31	consistent	consistent	ADJ
fbem-14610	231	32	trends	trend	NOUN
fbem-14610	231	33	between	between	ADP
fbem-14610	231	34	the	the	DET
fbem-14610	231	35	two	two	NUM
fbem-14610	231	36	markets	market	NOUN
fbem-14610	231	37	,	,	PUNCT
fbem-14610	231	38	with	with	ADP
fbem-14610	231	39	the	the	DET
fbem-14610	231	40	mainland	mainland	NOUN
fbem-14610	231	41	market	market	NOUN
fbem-14610	231	42	displaying	display	VERB
fbem-14610	231	43	a	a	DET
fbem-14610	231	44	more	more	ADV
fbem-14610	231	45	stable	stable	ADJ
fbem-14610	231	46	trajectory	trajectory	NOUN
fbem-14610	231	47	.	.	PUNCT
fbem-14610	232	1	4.4.2	4.4.2	NUM
fbem-14610	232	2	.	.	PUNCT
fbem-14610	233	1	view	view	NOUN
fbem-14610	233	2	of	of	ADP
fbem-14610	233	3	economic	economic	ADJ
fbem-14610	233	4	development	development	NOUN
fbem-14610	233	5	from	from	ADP
fbem-14610	233	6	the	the	DET
fbem-14610	233	7	perspective	perspective	NOUN
fbem-14610	233	8	of	of	ADP
fbem-14610	233	9	promoting	promote	VERB
fbem-14610	233	10	economic	economic	ADJ
fbem-14610	233	11	development	development	NOUN
fbem-14610	233	12	,	,	PUNCT
fbem-14610	233	13	the	the	DET
fbem-14610	233	14	changes	change	NOUN
fbem-14610	233	15	in	in	ADP
fbem-14610	233	16	the	the	DET
fbem-14610	233	17	contagion	contagion	NOUN
fbem-14610	233	18	between	between	ADP
fbem-14610	233	19	the	the	DET
fbem-14610	233	20	mainland	mainland	NOUN
fbem-14610	233	21	chinese	chinese	ADJ
fbem-14610	233	22	stock	stock	NOUN
fbem-14610	233	23	market	market	NOUN
fbem-14610	233	24	and	and	CCONJ
fbem-14610	233	25	the	the	DET
fbem-14610	233	26	hong	hong	PROPN
fbem-14610	233	27	kong	kong	PROPN
fbem-14610	233	28	stock	stock	NOUN
fbem-14610	233	29	market	market	NOUN
fbem-14610	233	30	have	have	VERB
fbem-14610	233	31	profound	profound	ADJ
fbem-14610	233	32	implications	implication	NOUN
fbem-14610	233	33	for	for	ADP
fbem-14610	233	34	the	the	DET
fbem-14610	233	35	macroeconomy	macroeconomy	NOUN
fbem-14610	233	36	.	.	PUNCT
fbem-14610	234	1	despite	despite	SCONJ
fbem-14610	234	2	the	the	DET
fbem-14610	234	3	impact	impact	NOUN
fbem-14610	234	4	of	of	ADP
fbem-14610	234	5	the	the	DET
fbem-14610	234	6	pandemic	pandemic	NOUN
fbem-14610	234	7	,	,	PUNCT
fbem-14610	234	8	the	the	DET
fbem-14610	234	9	two	two	NUM
fbem-14610	234	10	markets	market	NOUN
fbem-14610	234	11	have	have	AUX
fbem-14610	234	12	maintained	maintain	VERB
fbem-14610	234	13	a	a	DET
fbem-14610	234	14	unidirectional	unidirectional	ADJ
fbem-14610	234	15	granger	granger	PROPN
fbem-14610	234	16	causal	causal	PROPN
fbem-14610	234	17	relationship	relationship	NOUN
fbem-14610	234	18	,	,	PUNCT
fbem-14610	234	19	indicating	indicate	VERB
fbem-14610	234	20	their	their	PRON
fbem-14610	234	21	inseparable	inseparable	ADJ
fbem-14610	234	22	economic	economic	ADJ
fbem-14610	234	23	ties	tie	NOUN
fbem-14610	234	24	and	and	CCONJ
fbem-14610	234	25	a	a	DET
fbem-14610	234	26	deepening	deepening	NOUN
fbem-14610	234	27	level	level	NOUN
fbem-14610	234	28	of	of	ADP
fbem-14610	234	29	mutual	mutual	ADJ
fbem-14610	234	30	influence	influence	NOUN
fbem-14610	234	31	under	under	ADP
fbem-14610	234	32	the	the	DET
fbem-14610	234	33	pandemic	pandemic	NOUN
fbem-14610	234	34	's	's	PART
fbem-14610	234	35	influence	influence	NOUN
fbem-14610	234	36	.	.	PUNCT
fbem-14610	235	1	monitoring	monitor	VERB
fbem-14610	235	2	the	the	DET
fbem-14610	235	3	evolving	evolve	VERB
fbem-14610	235	4	trend	trend	NOUN
fbem-14610	235	5	of	of	ADP
fbem-14610	235	6	the	the	DET
fbem-14610	235	7	interconnectedness	interconnectedness	NOUN
fbem-14610	235	8	between	between	ADP
fbem-14610	235	9	these	these	DET
fbem-14610	235	10	regions	region	NOUN
fbem-14610	235	11	,	,	PUNCT
fbem-14610	235	12	both	both	DET
fbem-14610	235	13	mainland	mainland	NOUN
fbem-14610	235	14	china	china	PROPN
fbem-14610	235	15	and	and	CCONJ
fbem-14610	235	16	hong	hong	PROPN
fbem-14610	235	17	kong	kong	PROPN
fbem-14610	235	18	capital	capital	NOUN
fbem-14610	235	19	markets	market	NOUN
fbem-14610	235	20	,	,	PUNCT
fbem-14610	235	21	while	while	SCONJ
fbem-14610	235	22	closely	closely	ADV
fbem-14610	235	23	intertwined	intertwine	VERB
fbem-14610	235	24	,	,	PUNCT
fbem-14610	235	25	are	be	AUX
fbem-14610	235	26	collectively	collectively	ADV
fbem-14610	235	27	exploring	explore	VERB
fbem-14610	235	28	international	international	ADJ
fbem-14610	235	29	development	development	NOUN
fbem-14610	235	30	.	.	PUNCT
fbem-14610	236	1	their	their	PRON
fbem-14610	236	2	economic	economic	ADJ
fbem-14610	236	3	interdependence	interdependence	NOUN
fbem-14610	236	4	is	be	AUX
fbem-14610	236	5	expanding	expand	VERB
fbem-14610	236	6	globally	globally	ADV
fbem-14610	236	7	,	,	PUNCT
fbem-14610	236	8	enhancing	enhance	VERB
fbem-14610	236	9	the	the	DET
fbem-14610	236	10	nation	nation	NOUN
fbem-14610	236	11	's	's	PART
fbem-14610	236	12	macroeconomic	macroeconomic	ADJ
fbem-14610	236	13	resilience	resilience	NOUN
fbem-14610	236	14	and	and	CCONJ
fbem-14610	236	15	fostering	foster	VERB
fbem-14610	236	16	stable	stable	ADJ
fbem-14610	236	17	economic	economic	ADJ
fbem-14610	236	18	growth	growth	NOUN
fbem-14610	236	19	.	.	PUNCT
fbem-14610	237	1	95	95	NUM
fbem-14610	238	1	the	the	DET
fbem-14610	238	2	enduring	endure	VERB
fbem-14610	238	3	correlation	correlation	NOUN
fbem-14610	238	4	between	between	ADP
fbem-14610	238	5	mainland	mainland	NOUN
fbem-14610	238	6	china	china	PROPN
fbem-14610	238	7	and	and	CCONJ
fbem-14610	238	8	hong	hong	PROPN
fbem-14610	238	9	kong	kong	PROPN
fbem-14610	238	10	's	's	PART
fbem-14610	238	11	stock	stock	NOUN
fbem-14610	238	12	markets	market	NOUN
fbem-14610	238	13	,	,	PUNCT
fbem-14610	238	14	where	where	SCONJ
fbem-14610	238	15	their	their	PRON
fbem-14610	238	16	market	market	NOUN
fbem-14610	238	17	changes	change	NOUN
fbem-14610	238	18	tend	tend	VERB
fbem-14610	238	19	to	to	PART
fbem-14610	238	20	converge	converge	VERB
fbem-14610	238	21	,	,	PUNCT
fbem-14610	238	22	allows	allow	VERB
fbem-14610	238	23	listed	list	VERB
fbem-14610	238	24	companies	company	NOUN
fbem-14610	238	25	to	to	PART
fbem-14610	238	26	better	well	ADV
fbem-14610	238	27	seize	seize	VERB
fbem-14610	238	28	international	international	ADJ
fbem-14610	238	29	opportunities	opportunity	NOUN
fbem-14610	238	30	.	.	PUNCT
fbem-14610	239	1	this	this	PRON
fbem-14610	239	2	diminishes	diminish	VERB
fbem-14610	239	3	the	the	DET
fbem-14610	239	4	impact	impact	NOUN
fbem-14610	239	5	and	and	CCONJ
fbem-14610	239	6	uncertainties	uncertainty	NOUN
fbem-14610	239	7	arising	arise	VERB
fbem-14610	239	8	from	from	ADP
fbem-14610	239	9	stock	stock	NOUN
fbem-14610	239	10	market	market	NOUN
fbem-14610	239	11	fluctuations	fluctuation	NOUN
fbem-14610	239	12	,	,	PUNCT
fbem-14610	239	13	elevates	elevate	VERB
fbem-14610	239	14	resilience	resilience	NOUN
fbem-14610	239	15	,	,	PUNCT
fbem-14610	239	16	and	and	CCONJ
fbem-14610	239	17	mitigates	mitigate	VERB
fbem-14610	239	18	the	the	DET
fbem-14610	239	19	negative	negative	ADJ
fbem-14610	239	20	impacts	impact	NOUN
fbem-14610	239	21	of	of	ADP
fbem-14610	239	22	uncertainties	uncertainty	NOUN
fbem-14610	239	23	such	such	ADJ
fbem-14610	239	24	as	as	ADP
fbem-14610	239	25	the	the	DET
fbem-14610	239	26	pandemic	pandemic	ADJ
fbem-14610	239	27	,	,	PUNCT
fbem-14610	239	28	ensuring	ensure	VERB
fbem-14610	239	29	market	market	NOUN
fbem-14610	239	30	stability	stability	NOUN
fbem-14610	239	31	and	and	CCONJ
fbem-14610	239	32	safeguarding	safeguard	VERB
fbem-14610	239	33	enterprise	enterprise	NOUN
fbem-14610	239	34	economic	economic	ADJ
fbem-14610	239	35	performance	performance	NOUN
fbem-14610	239	36	.	.	PUNCT
fbem-14610	240	1	as	as	ADP
fbem-14610	240	2	the	the	DET
fbem-14610	240	3	flow	flow	NOUN
fbem-14610	240	4	of	of	ADP
fbem-14610	240	5	funds	fund	NOUN
fbem-14610	240	6	between	between	ADP
fbem-14610	240	7	mainland	mainland	NOUN
fbem-14610	240	8	china	china	PROPN
fbem-14610	240	9	's	's	PART
fbem-14610	240	10	a	a	DET
fbem-14610	240	11	-	-	PUNCT
fbem-14610	240	12	share	share	NOUN
fbem-14610	240	13	market	market	NOUN
fbem-14610	240	14	and	and	CCONJ
fbem-14610	240	15	hong	hong	PROPN
fbem-14610	240	16	kong	kong	PROPN
fbem-14610	240	17	's	's	PART
fbem-14610	240	18	stock	stock	NOUN
fbem-14610	240	19	market	market	NOUN
fbem-14610	240	20	intensifies	intensifie	NOUN
fbem-14610	240	21	and	and	CCONJ
fbem-14610	240	22	their	their	PRON
fbem-14610	240	23	internationalization	internationalization	NOUN
fbem-14610	240	24	progresses	progress	VERB
fbem-14610	240	25	,	,	PUNCT
fbem-14610	240	26	international	international	ADJ
fbem-14610	240	27	capital	capital	NOUN
fbem-14610	240	28	is	be	AUX
fbem-14610	240	29	drawn	draw	VERB
fbem-14610	240	30	,	,	PUNCT
fbem-14610	240	31	injecting	inject	VERB
fbem-14610	240	32	substantial	substantial	ADJ
fbem-14610	240	33	funds	fund	NOUN
fbem-14610	240	34	into	into	ADP
fbem-14610	240	35	the	the	DET
fbem-14610	240	36	market	market	NOUN
fbem-14610	240	37	.	.	PUNCT
fbem-14610	241	1	this	this	PRON
fbem-14610	241	2	stimulates	stimulate	VERB
fbem-14610	241	3	the	the	DET
fbem-14610	241	4	prosperity	prosperity	NOUN
fbem-14610	241	5	of	of	ADP
fbem-14610	241	6	the	the	DET
fbem-14610	241	7	stock	stock	NOUN
fbem-14610	241	8	market	market	NOUN
fbem-14610	241	9	,	,	PUNCT
fbem-14610	241	10	offering	offer	VERB
fbem-14610	241	11	investment	investment	NOUN
fbem-14610	241	12	opportunities	opportunity	NOUN
fbem-14610	241	13	across	across	ADP
fbem-14610	241	14	various	various	ADJ
fbem-14610	241	15	sectors	sector	NOUN
fbem-14610	241	16	and	and	CCONJ
fbem-14610	241	17	industries	industry	NOUN
fbem-14610	241	18	.	.	PUNCT
fbem-14610	242	1	coupled	couple	VERB
fbem-14610	242	2	with	with	ADP
fbem-14610	242	3	robust	robust	ADJ
fbem-14610	242	4	policy	policy	NOUN
fbem-14610	242	5	support	support	NOUN
fbem-14610	242	6	,	,	PUNCT
fbem-14610	242	7	the	the	DET
fbem-14610	242	8	country	country	NOUN
fbem-14610	242	9	's	's	PART
fbem-14610	242	10	economy	economy	NOUN
fbem-14610	242	11	revitalizes	revitalize	VERB
fbem-14610	242	12	amid	amid	ADP
fbem-14610	242	13	the	the	DET
fbem-14610	242	14	pandemic	pandemic	NOUN
fbem-14610	242	15	's	's	PART
fbem-14610	242	16	challenges	challenge	NOUN
fbem-14610	242	17	,	,	PUNCT
fbem-14610	242	18	compensating	compensate	VERB
fbem-14610	242	19	for	for	ADP
fbem-14610	242	20	losses	loss	NOUN
fbem-14610	242	21	and	and	CCONJ
fbem-14610	242	22	fostering	foster	VERB
fbem-14610	242	23	stable	stable	ADJ
fbem-14610	242	24	and	and	CCONJ
fbem-14610	242	25	healthy	healthy	ADJ
fbem-14610	242	26	development	development	NOUN
fbem-14610	242	27	.	.	PUNCT
fbem-14610	243	1	5	5	NUM
fbem-14610	243	2	.	.	X
fbem-14610	243	3	suggestion	suggestion	NOUN
fbem-14610	243	4	for	for	ADP
fbem-14610	243	5	individual	individual	ADJ
fbem-14610	243	6	investors	investor	NOUN
fbem-14610	243	7	,	,	PUNCT
fbem-14610	243	8	further	further	ADJ
fbem-14610	243	9	education	education	NOUN
fbem-14610	243	10	in	in	ADP
fbem-14610	243	11	fundamental	fundamental	ADJ
fbem-14610	243	12	stock	stock	NOUN
fbem-14610	243	13	knowledge	knowledge	NOUN
fbem-14610	243	14	,	,	PUNCT
fbem-14610	243	15	maintaining	maintain	VERB
fbem-14610	243	16	a	a	DET
fbem-14610	243	17	high	high	ADJ
fbem-14610	243	18	sensitivity	sensitivity	NOUN
fbem-14610	243	19	to	to	ADP
fbem-14610	243	20	market	market	NOUN
fbem-14610	243	21	trends	trend	NOUN
fbem-14610	243	22	,	,	PUNCT
fbem-14610	243	23	and	and	CCONJ
fbem-14610	243	24	enhancing	enhance	VERB
fbem-14610	243	25	risk	risk	NOUN
fbem-14610	243	26	management	management	NOUN
fbem-14610	243	27	capabilities	capability	NOUN
fbem-14610	243	28	are	be	AUX
fbem-14610	243	29	essential	essential	ADJ
fbem-14610	243	30	.	.	PUNCT
fbem-14610	244	1	proper	proper	ADJ
fbem-14610	244	2	allocation	allocation	NOUN
fbem-14610	244	3	within	within	ADP
fbem-14610	244	4	their	their	PRON
fbem-14610	244	5	securities	security	NOUN
fbem-14610	244	6	accounts	account	NOUN
fbem-14610	244	7	to	to	PART
fbem-14610	244	8	diversify	diversify	VERB
fbem-14610	244	9	risk	risk	NOUN
fbem-14610	244	10	and	and	CCONJ
fbem-14610	244	11	the	the	DET
fbem-14610	244	12	ability	ability	NOUN
fbem-14610	244	13	to	to	PART
fbem-14610	244	14	maintain	maintain	VERB
fbem-14610	244	15	rational	rational	ADJ
fbem-14610	244	16	thinking	thinking	NOUN
fbem-14610	244	17	are	be	AUX
fbem-14610	244	18	crucial	crucial	ADJ
fbem-14610	244	19	.	.	PUNCT
fbem-14610	245	1	when	when	SCONJ
fbem-14610	245	2	investing	invest	VERB
fbem-14610	245	3	in	in	ADP
fbem-14610	245	4	stocks	stock	NOUN
fbem-14610	245	5	,	,	PUNCT
fbem-14610	245	6	they	they	PRON
fbem-14610	245	7	can	can	AUX
fbem-14610	245	8	opt	opt	VERB
fbem-14610	245	9	for	for	ADP
fbem-14610	245	10	products	product	NOUN
fbem-14610	245	11	like	like	ADP
fbem-14610	245	12	funds	fund	NOUN
fbem-14610	245	13	and	and	CCONJ
fbem-14610	245	14	bonds	bond	NOUN
fbem-14610	245	15	for	for	ADP
fbem-14610	245	16	risk	risk	NOUN
fbem-14610	245	17	hedging	hedging	NOUN
fbem-14610	245	18	.	.	PUNCT
fbem-14610	246	1	institutional	institutional	ADJ
fbem-14610	246	2	investors	investor	NOUN
fbem-14610	246	3	need	need	VERB
fbem-14610	246	4	in	in	ADP
fbem-14610	246	5	-	-	PUNCT
fbem-14610	246	6	depth	depth	NOUN
fbem-14610	246	7	research	research	NOUN
fbem-14610	246	8	and	and	CCONJ
fbem-14610	246	9	assessment	assessment	NOUN
fbem-14610	246	10	of	of	ADP
fbem-14610	246	11	different	different	ADJ
fbem-14610	246	12	markets	market	NOUN
fbem-14610	246	13	,	,	PUNCT
fbem-14610	246	14	industries	industry	NOUN
fbem-14610	246	15	,	,	PUNCT
fbem-14610	246	16	and	and	CCONJ
fbem-14610	246	17	enterprises	enterprise	NOUN
fbem-14610	246	18	to	to	PART
fbem-14610	246	19	ensure	ensure	VERB
fbem-14610	246	20	investment	investment	NOUN
fbem-14610	246	21	returns	return	NOUN
fbem-14610	246	22	and	and	CCONJ
fbem-14610	246	23	risk	risk	NOUN
fbem-14610	246	24	control	control	NOUN
fbem-14610	246	25	.	.	PUNCT
fbem-14610	247	1	active	active	ADJ
fbem-14610	247	2	participation	participation	NOUN
fbem-14610	247	3	in	in	ADP
fbem-14610	247	4	promoting	promote	VERB
fbem-14610	247	5	the	the	DET
fbem-14610	247	6	development	development	NOUN
fbem-14610	247	7	of	of	ADP
fbem-14610	247	8	securities	security	NOUN
fbem-14610	247	9	,	,	PUNCT
fbem-14610	247	10	futures	future	NOUN
fbem-14610	247	11	,	,	PUNCT
fbem-14610	247	12	and	and	CCONJ
fbem-14610	247	13	other	other	ADJ
fbem-14610	247	14	financial	financial	ADJ
fbem-14610	247	15	derivatives	derivative	NOUN
fbem-14610	247	16	in	in	ADP
fbem-14610	247	17	both	both	DET
fbem-14610	247	18	regions	region	NOUN
fbem-14610	247	19	under	under	ADP
fbem-14610	247	20	controlled	control	VERB
fbem-14610	247	21	risks	risk	NOUN
fbem-14610	247	22	injects	inject	VERB
fbem-14610	247	23	vitality	vitality	NOUN
fbem-14610	247	24	into	into	ADP
fbem-14610	247	25	the	the	DET
fbem-14610	247	26	economies	economy	NOUN
fbem-14610	247	27	and	and	CCONJ
fbem-14610	247	28	offers	offer	VERB
fbem-14610	247	29	increased	increase	VERB
fbem-14610	247	30	financial	financial	ADJ
fbem-14610	247	31	support	support	NOUN
fbem-14610	247	32	.	.	PUNCT
fbem-14610	248	1	market	market	NOUN
fbem-14610	248	2	regulators	regulator	NOUN
fbem-14610	248	3	must	must	AUX
fbem-14610	248	4	recognize	recognize	VERB
fbem-14610	248	5	the	the	DET
fbem-14610	248	6	distinct	distinct	ADJ
fbem-14610	248	7	regulatory	regulatory	ADJ
fbem-14610	248	8	mechanisms	mechanism	NOUN
fbem-14610	248	9	and	and	CCONJ
fbem-14610	248	10	legal	legal	ADJ
fbem-14610	248	11	frameworks	framework	NOUN
fbem-14610	248	12	between	between	ADP
fbem-14610	248	13	mainland	mainland	NOUN
fbem-14610	248	14	china	china	PROPN
fbem-14610	248	15	's	's	PART
fbem-14610	248	16	a	a	DET
fbem-14610	248	17	-	-	PUNCT
fbem-14610	248	18	share	share	NOUN
fbem-14610	248	19	market	market	NOUN
fbem-14610	248	20	and	and	CCONJ
fbem-14610	248	21	hong	hong	PROPN
fbem-14610	248	22	kong	kong	PROPN
fbem-14610	248	23	's	's	PART
fbem-14610	248	24	stock	stock	NOUN
fbem-14610	248	25	market	market	NOUN
fbem-14610	248	26	.	.	PUNCT
fbem-14610	249	1	with	with	ADP
fbem-14610	249	2	increased	increase	VERB
fbem-14610	249	3	interconnectedness	interconnectedness	NOUN
fbem-14610	249	4	,	,	PUNCT
fbem-14610	249	5	there	there	PRON
fbem-14610	249	6	's	be	VERB
fbem-14610	249	7	a	a	DET
fbem-14610	249	8	need	need	NOUN
fbem-14610	249	9	for	for	ADP
fbem-14610	249	10	strengthened	strengthen	VERB
fbem-14610	249	11	regulatory	regulatory	ADJ
fbem-14610	249	12	coordination	coordination	NOUN
fbem-14610	249	13	and	and	CCONJ
fbem-14610	249	14	the	the	DET
fbem-14610	249	15	integration	integration	NOUN
fbem-14610	249	16	of	of	ADP
fbem-14610	249	17	legal	legal	ADJ
fbem-14610	249	18	frameworks	framework	NOUN
fbem-14610	249	19	to	to	PART
fbem-14610	249	20	enhance	enhance	VERB
fbem-14610	249	21	market	market	NOUN
fbem-14610	249	22	transparency	transparency	NOUN
fbem-14610	249	23	and	and	CCONJ
fbem-14610	249	24	stability	stability	NOUN
fbem-14610	249	25	.	.	PUNCT
fbem-14610	250	1	regulators	regulator	NOUN
fbem-14610	250	2	should	should	AUX
fbem-14610	250	3	focus	focus	VERB
fbem-14610	250	4	on	on	ADP
fbem-14610	250	5	improving	improve	VERB
fbem-14610	250	6	information	information	NOUN
fbem-14610	250	7	disclosure	disclosure	NOUN
fbem-14610	250	8	and	and	CCONJ
fbem-14610	250	9	risk	risk	NOUN
fbem-14610	250	10	management	management	NOUN
fbem-14610	250	11	to	to	PART
fbem-14610	250	12	ensure	ensure	VERB
fbem-14610	250	13	market	market	NOUN
fbem-14610	250	14	stability	stability	NOUN
fbem-14610	250	15	and	and	CCONJ
fbem-14610	250	16	healthy	healthy	ADJ
fbem-14610	250	17	development	development	NOUN
fbem-14610	250	18	.	.	PUNCT
fbem-14610	251	1	additionally	additionally	ADV
fbem-14610	251	2	,	,	PUNCT
fbem-14610	251	3	enhancing	enhance	VERB
fbem-14610	251	4	mechanisms	mechanism	NOUN
fbem-14610	251	5	for	for	ADP
fbem-14610	251	6	information	information	NOUN
fbem-14610	251	7	disclosure	disclosure	NOUN
fbem-14610	251	8	by	by	ADP
fbem-14610	251	9	listed	list	VERB
fbem-14610	251	10	companies	company	NOUN
fbem-14610	251	11	improves	improve	VERB
fbem-14610	251	12	transparency	transparency	NOUN
fbem-14610	251	13	and	and	CCONJ
fbem-14610	251	14	reduces	reduce	VERB
fbem-14610	251	15	the	the	DET
fbem-14610	251	16	risk	risk	NOUN
fbem-14610	251	17	spillage	spillage	NOUN
fbem-14610	251	18	in	in	ADP
fbem-14610	251	19	the	the	DET
fbem-14610	251	20	mainland	mainland	NOUN
fbem-14610	251	21	stock	stock	NOUN
fbem-14610	251	22	market	market	NOUN
fbem-14610	251	23	.	.	PUNCT
fbem-14610	252	1	for	for	ADP
fbem-14610	252	2	policymakers	policymaker	NOUN
fbem-14610	252	3	,	,	PUNCT
fbem-14610	252	4	government	government	NOUN
fbem-14610	252	5	departments	department	NOUN
fbem-14610	252	6	should	should	AUX
fbem-14610	252	7	continue	continue	VERB
fbem-14610	252	8	expanding	expand	VERB
fbem-14610	252	9	market	market	NOUN
fbem-14610	252	10	openness	openness	NOUN
fbem-14610	252	11	,	,	PUNCT
fbem-14610	252	12	fostering	foster	VERB
fbem-14610	252	13	cross	cross	ADJ
fbem-14610	252	14	-	-	ADJ
fbem-14610	252	15	border	border	ADJ
fbem-14610	252	16	cooperation	cooperation	NOUN
fbem-14610	252	17	in	in	ADP
fbem-14610	252	18	various	various	ADJ
fbem-14610	252	19	domains	domain	NOUN
fbem-14610	252	20	such	such	ADJ
fbem-14610	252	21	as	as	ADP
fbem-14610	252	22	economics	economic	NOUN
fbem-14610	252	23	,	,	PUNCT
fbem-14610	252	24	culture	culture	NOUN
fbem-14610	252	25	,	,	PUNCT
fbem-14610	252	26	and	and	CCONJ
fbem-14610	252	27	technology	technology	NOUN
fbem-14610	252	28	.	.	PUNCT
fbem-14610	253	1	actively	actively	ADV
fbem-14610	253	2	promoting	promote	VERB
fbem-14610	253	3	connectivity	connectivity	NOUN
fbem-14610	253	4	between	between	ADP
fbem-14610	253	5	the	the	DET
fbem-14610	253	6	two	two	NUM
fbem-14610	253	7	markets	market	NOUN
fbem-14610	253	8	,	,	PUNCT
fbem-14610	253	9	relaxing	relax	VERB
fbem-14610	253	10	investment	investment	NOUN
fbem-14610	253	11	restrictions	restriction	NOUN
fbem-14610	253	12	,	,	PUNCT
fbem-14610	253	13	and	and	CCONJ
fbem-14610	253	14	encouraging	encourage	VERB
fbem-14610	253	15	more	more	ADJ
fbem-14610	253	16	mainland	mainland	NOUN
fbem-14610	253	17	and	and	CCONJ
fbem-14610	253	18	hong	hong	PROPN
fbem-14610	253	19	kong	kong	PROPN
fbem-14610	253	20	investors	investor	NOUN
fbem-14610	253	21	to	to	PART
fbem-14610	253	22	engage	engage	VERB
fbem-14610	253	23	in	in	ADP
fbem-14610	253	24	each	each	DET
fbem-14610	253	25	other	other	ADJ
fbem-14610	253	26	's	's	PART
fbem-14610	253	27	markets	market	NOUN
fbem-14610	253	28	stimulate	stimulate	VERB
fbem-14610	253	29	the	the	DET
fbem-14610	253	30	flow	flow	NOUN
fbem-14610	253	31	and	and	CCONJ
fbem-14610	253	32	optimal	optimal	ADJ
fbem-14610	253	33	allocation	allocation	NOUN
fbem-14610	253	34	of	of	ADP
fbem-14610	253	35	capital	capital	NOUN
fbem-14610	253	36	,	,	PUNCT
fbem-14610	253	37	technology	technology	NOUN
fbem-14610	253	38	,	,	PUNCT
fbem-14610	253	39	and	and	CCONJ
fbem-14610	253	40	other	other	ADJ
fbem-14610	253	41	factors	factor	NOUN
fbem-14610	253	42	,	,	PUNCT
fbem-14610	253	43	promoting	promote	VERB
fbem-14610	253	44	mutual	mutual	ADJ
fbem-14610	253	45	benefits	benefit	NOUN
fbem-14610	253	46	and	and	CCONJ
fbem-14610	253	47	furthering	further	VERB
fbem-14610	253	48	economic	economic	ADJ
fbem-14610	253	49	development	development	NOUN
fbem-14610	253	50	in	in	ADP
fbem-14610	253	51	both	both	DET
fbem-14610	253	52	regions	region	NOUN
fbem-14610	253	53	.	.	PUNCT
fbem-14610	254	1	6	6	X
fbem-14610	254	2	.	.	X
fbem-14610	254	3	conclusions	conclusion	NOUN
fbem-14610	254	4	this	this	DET
fbem-14610	254	5	article	article	NOUN
fbem-14610	254	6	selects	select	VERB
fbem-14610	254	7	the	the	DET
fbem-14610	254	8	daily	daily	ADJ
fbem-14610	254	9	returns	return	NOUN
fbem-14610	254	10	of	of	ADP
fbem-14610	254	11	the	the	DET
fbem-14610	254	12	csi	csi	ADJ
fbem-14610	254	13	300	300	NUM
fbem-14610	254	14	to	to	PART
fbem-14610	254	15	represent	represent	VERB
fbem-14610	254	16	the	the	DET
fbem-14610	254	17	mainland	mainland	NOUN
fbem-14610	254	18	market	market	NOUN
fbem-14610	254	19	and	and	CCONJ
fbem-14610	254	20	the	the	DET
fbem-14610	254	21	daily	daily	ADJ
fbem-14610	254	22	returns	return	NOUN
fbem-14610	254	23	of	of	ADP
fbem-14610	254	24	the	the	DET
fbem-14610	254	25	hsi	hsi	PROPN
fbem-14610	254	26	to	to	PART
fbem-14610	254	27	represent	represent	VERB
fbem-14610	254	28	the	the	DET
fbem-14610	254	29	hong	hong	PROPN
fbem-14610	254	30	kong	kong	PROPN
fbem-14610	254	31	market	market	NOUN
fbem-14610	254	32	.	.	PUNCT
fbem-14610	255	1	data	datum	NOUN
fbem-14610	255	2	were	be	AUX
fbem-14610	255	3	sourced	source	VERB
fbem-14610	255	4	from	from	ADP
fbem-14610	255	5	the	the	DET
fbem-14610	255	6	wind	wind	NOUN
fbem-14610	255	7	database	database	NOUN
fbem-14610	255	8	to	to	PART
fbem-14610	255	9	investigate	investigate	VERB
fbem-14610	255	10	the	the	DET
fbem-14610	255	11	contagion	contagion	NOUN
fbem-14610	255	12	effect	effect	NOUN
fbem-14610	255	13	between	between	ADP
fbem-14610	255	14	the	the	DET
fbem-14610	255	15	two	two	NUM
fbem-14610	255	16	stock	stock	NOUN
fbem-14610	255	17	markets	market	NOUN
fbem-14610	255	18	amidst	amidst	ADP
fbem-14610	255	19	the	the	DET
fbem-14610	255	20	backdrop	backdrop	NOUN
fbem-14610	255	21	of	of	ADP
fbem-14610	255	22	the	the	DET
fbem-14610	255	23	pandemic	pandemic	ADJ
fbem-14610	255	24	.	.	PUNCT
fbem-14610	256	1	utilizing	utilize	VERB
fbem-14610	256	2	methods	method	NOUN
fbem-14610	256	3	such	such	ADJ
fbem-14610	256	4	as	as	ADP
fbem-14610	256	5	descriptive	descriptive	ADJ
fbem-14610	256	6	statistics	statistic	NOUN
fbem-14610	256	7	,	,	PUNCT
fbem-14610	256	8	adf	adf	NOUN
fbem-14610	256	9	tests	test	NOUN
fbem-14610	256	10	,	,	PUNCT
fbem-14610	256	11	correlation	correlation	NOUN
fbem-14610	256	12	analysis	analysis	NOUN
fbem-14610	256	13	,	,	PUNCT
fbem-14610	256	14	and	and	CCONJ
fbem-14610	256	15	granger	granger	PROPN
fbem-14610	256	16	causality	causality	NOUN
fbem-14610	256	17	tests	test	NOUN
fbem-14610	256	18	,	,	PUNCT
fbem-14610	256	19	this	this	DET
fbem-14610	256	20	study	study	NOUN
fbem-14610	256	21	explores	explore	VERB
fbem-14610	256	22	the	the	DET
fbem-14610	256	23	contagion	contagion	NOUN
fbem-14610	256	24	effect	effect	NOUN
fbem-14610	256	25	between	between	ADP
fbem-14610	256	26	the	the	DET
fbem-14610	256	27	mainland	mainland	NOUN
fbem-14610	256	28	chinese	chinese	PROPN
fbem-14610	256	29	a	a	DET
fbem-14610	256	30	-	-	PUNCT
fbem-14610	256	31	share	share	NOUN
fbem-14610	256	32	market	market	NOUN
fbem-14610	256	33	and	and	CCONJ
fbem-14610	256	34	the	the	DET
fbem-14610	256	35	hong	hong	PROPN
fbem-14610	256	36	kong	kong	PROPN
fbem-14610	256	37	stock	stock	NOUN
fbem-14610	256	38	market	market	NOUN
fbem-14610	256	39	before	before	ADP
fbem-14610	256	40	and	and	CCONJ
fbem-14610	256	41	after	after	ADP
fbem-14610	256	42	the	the	DET
fbem-14610	256	43	pandemic	pandemic	ADJ
fbem-14610	256	44	.	.	PUNCT
fbem-14610	257	1	empirical	empirical	ADJ
fbem-14610	257	2	research	research	NOUN
fbem-14610	257	3	using	use	VERB
fbem-14610	257	4	var	var	NOUN
fbem-14610	257	5	regression	regression	NOUN
fbem-14610	257	6	was	be	AUX
fbem-14610	257	7	conducted	conduct	VERB
fbem-14610	257	8	to	to	PART
fbem-14610	257	9	substantiate	substantiate	VERB
fbem-14610	257	10	the	the	DET
fbem-14610	257	11	findings	finding	NOUN
fbem-14610	257	12	.	.	PUNCT
fbem-14610	258	1	the	the	DET
fbem-14610	258	2	results	result	NOUN
fbem-14610	258	3	indicate	indicate	VERB
fbem-14610	258	4	a	a	DET
fbem-14610	258	5	strong	strong	ADJ
fbem-14610	258	6	contagion	contagion	NOUN
fbem-14610	258	7	between	between	ADP
fbem-14610	258	8	the	the	DET
fbem-14610	258	9	mainland	mainland	NOUN
fbem-14610	258	10	and	and	CCONJ
fbem-14610	258	11	hong	hong	PROPN
fbem-14610	258	12	kong	kong	PROPN
fbem-14610	258	13	markets	market	NOUN
fbem-14610	258	14	,	,	PUNCT
fbem-14610	258	15	with	with	ADP
fbem-14610	258	16	stock	stock	NOUN
fbem-14610	258	17	index	index	NOUN
fbem-14610	258	18	fluctuations	fluctuation	NOUN
fbem-14610	258	19	showing	show	VERB
fbem-14610	258	20	convergence	convergence	NOUN
fbem-14610	258	21	and	and	CCONJ
fbem-14610	258	22	mutual	mutual	ADJ
fbem-14610	258	23	influence	influence	NOUN
fbem-14610	258	24	.	.	PUNCT
fbem-14610	259	1	specifically	specifically	ADV
fbem-14610	259	2	,	,	PUNCT
fbem-14610	259	3	before	before	ADP
fbem-14610	259	4	the	the	DET
fbem-14610	259	5	pandemic	pandemic	NOUN
fbem-14610	259	6	from	from	ADP
fbem-14610	259	7	2010	2010	NUM
fbem-14610	259	8	to	to	ADP
fbem-14610	259	9	january	january	PROPN
fbem-14610	259	10	2020	2020	NUM
fbem-14610	259	11	,	,	PUNCT
fbem-14610	259	12	there	there	PRON
fbem-14610	259	13	was	be	VERB
fbem-14610	259	14	a	a	DET
fbem-14610	259	15	unidirectional	unidirectional	ADJ
fbem-14610	259	16	granger	granger	PROPN
fbem-14610	259	17	causal	causal	PROPN
fbem-14610	259	18	relationship	relationship	NOUN
fbem-14610	259	19	from	from	ADP
fbem-14610	259	20	the	the	DET
fbem-14610	259	21	mainland	mainland	NOUN
fbem-14610	259	22	a	a	DET
fbem-14610	259	23	-	-	PUNCT
fbem-14610	259	24	share	share	NOUN
fbem-14610	259	25	market	market	NOUN
fbem-14610	259	26	to	to	ADP
fbem-14610	259	27	the	the	DET
fbem-14610	259	28	hong	hong	PROPN
fbem-14610	259	29	kong	kong	PROPN
fbem-14610	259	30	stock	stock	NOUN
fbem-14610	259	31	market	market	NOUN
fbem-14610	259	32	.	.	PUNCT
fbem-14610	260	1	during	during	ADP
fbem-14610	260	2	the	the	DET
fbem-14610	260	3	pandemic	pandemic	ADJ
fbem-14610	260	4	period	period	NOUN
fbem-14610	260	5	from	from	ADP
fbem-14610	260	6	january	january	PROPN
fbem-14610	260	7	2020	2020	NUM
fbem-14610	260	8	to	to	ADP
fbem-14610	260	9	december	december	PROPN
fbem-14610	260	10	2022	2022	NUM
fbem-14610	260	11	,	,	PUNCT
fbem-14610	260	12	there	there	PRON
fbem-14610	260	13	existed	exist	VERB
fbem-14610	260	14	a	a	DET
fbem-14610	260	15	unidirectional	unidirectional	ADJ
fbem-14610	260	16	granger	granger	PROPN
fbem-14610	260	17	causal	causal	PROPN
fbem-14610	260	18	relationship	relationship	NOUN
fbem-14610	260	19	from	from	ADP
fbem-14610	260	20	the	the	DET
fbem-14610	260	21	hong	hong	PROPN
fbem-14610	260	22	kong	kong	PROPN
fbem-14610	260	23	stock	stock	NOUN
fbem-14610	260	24	market	market	NOUN
fbem-14610	260	25	to	to	ADP
fbem-14610	260	26	the	the	DET
fbem-14610	260	27	mainland	mainland	NOUN
fbem-14610	260	28	a	a	DET
fbem-14610	260	29	-	-	PUNCT
fbem-14610	260	30	share	share	NOUN
fbem-14610	260	31	market	market	NOUN
fbem-14610	260	32	.	.	PUNCT
fbem-14610	261	1	with	with	ADP
fbem-14610	261	2	the	the	DET
fbem-14610	261	3	acceleration	acceleration	NOUN
fbem-14610	261	4	of	of	ADP
fbem-14610	261	5	globalization	globalization	NOUN
fbem-14610	261	6	,	,	PUNCT
fbem-14610	261	7	the	the	DET
fbem-14610	261	8	heightened	heighten	VERB
fbem-14610	261	9	contagion	contagion	NOUN
fbem-14610	261	10	between	between	ADP
fbem-14610	261	11	the	the	DET
fbem-14610	261	12	mainland	mainland	NOUN
fbem-14610	261	13	a	a	DET
fbem-14610	261	14	-	-	PUNCT
fbem-14610	261	15	share	share	NOUN
fbem-14610	261	16	market	market	NOUN
fbem-14610	261	17	and	and	CCONJ
fbem-14610	261	18	the	the	DET
fbem-14610	261	19	hong	hong	PROPN
fbem-14610	261	20	kong	kong	PROPN
fbem-14610	261	21	stock	stock	NOUN
fbem-14610	261	22	market	market	NOUN
fbem-14610	261	23	is	be	AUX
fbem-14610	261	24	an	an	DET
fbem-14610	261	25	inevitable	inevitable	ADJ
fbem-14610	261	26	trend	trend	NOUN
fbem-14610	261	27	.	.	PUNCT
fbem-14610	262	1	this	this	DET
fbem-14610	262	2	interconnectivity	interconnectivity	NOUN
fbem-14610	262	3	not	not	PART
fbem-14610	262	4	only	only	ADV
fbem-14610	262	5	fosters	foster	VERB
fbem-14610	262	6	mutual	mutual	ADJ
fbem-14610	262	7	learning	learning	NOUN
fbem-14610	262	8	and	and	CCONJ
fbem-14610	262	9	benchmarking	benchmarke	VERB
fbem-14610	262	10	between	between	ADP
fbem-14610	262	11	the	the	DET
fbem-14610	262	12	two	two	NUM
fbem-14610	262	13	markets	market	NOUN
fbem-14610	262	14	but	but	CCONJ
fbem-14610	262	15	also	also	ADV
fbem-14610	262	16	propels	propel	VERB
fbem-14610	262	17	the	the	DET
fbem-14610	262	18	chinese	chinese	ADJ
fbem-14610	262	19	capital	capital	NOUN
fbem-14610	262	20	markets	market	NOUN
fbem-14610	262	21	toward	toward	ADP
fbem-14610	262	22	internationalization	internationalization	NOUN
fbem-14610	262	23	,	,	PUNCT
fbem-14610	262	24	marketization	marketization	NOUN
fbem-14610	262	25	,	,	PUNCT
fbem-14610	262	26	and	and	CCONJ
fbem-14610	262	27	standardization	standardization	NOUN
fbem-14610	262	28	,	,	PUNCT
fbem-14610	262	29	thereby	thereby	ADV
fbem-14610	262	30	enhancing	enhance	VERB
fbem-14610	262	31	their	their	PRON
fbem-14610	262	32	international	international	ADJ
fbem-14610	262	33	competitiveness	competitiveness	NOUN
fbem-14610	262	34	.	.	PUNCT
fbem-14610	263	1	simultaneously	simultaneously	ADV
fbem-14610	263	2	,	,	PUNCT
fbem-14610	263	3	it	it	PRON
fbem-14610	263	4	urges	urge	VERB
fbem-14610	263	5	investors	investor	NOUN
fbem-14610	263	6	and	and	CCONJ
fbem-14610	263	7	regulatory	regulatory	ADJ
fbem-14610	263	8	authorities	authority	NOUN
fbem-14610	263	9	to	to	PART
fbem-14610	263	10	collaboratively	collaboratively	ADV
fbem-14610	263	11	reinforce	reinforce	VERB
fbem-14610	263	12	aspects	aspect	NOUN
fbem-14610	263	13	like	like	ADP
fbem-14610	263	14	information	information	NOUN
fbem-14610	263	15	disclosure	disclosure	NOUN
fbem-14610	263	16	and	and	CCONJ
fbem-14610	263	17	risk	risk	NOUN
fbem-14610	263	18	management	management	NOUN
fbem-14610	263	19	,	,	PUNCT
fbem-14610	263	20	ensuring	ensure	VERB
fbem-14610	263	21	market	market	NOUN
fbem-14610	263	22	stability	stability	NOUN
fbem-14610	263	23	and	and	CCONJ
fbem-14610	263	24	healthy	healthy	ADJ
fbem-14610	263	25	development	development	NOUN
fbem-14610	263	26	.	.	PUNCT
fbem-14610	264	1	acknowledgment	acknowledgment	NOUN
fbem-14610	264	2	this	this	DET
fbem-14610	264	3	paper	paper	NOUN
fbem-14610	264	4	was	be	AUX
fbem-14610	264	5	supported	support	VERB
fbem-14610	264	6	by	by	ADP
fbem-14610	264	7	the	the	DET
fbem-14610	264	8	general	general	ADJ
fbem-14610	264	9	research	research	NOUN
fbem-14610	264	10	project	project	NOUN
fbem-14610	264	11	of	of	ADP
fbem-14610	264	12	xianda	xianda	PROPN
fbem-14610	264	13	college	college	PROPN
fbem-14610	264	14	of	of	ADP
fbem-14610	264	15	economics	economics	PROPN
fbem-14610	264	16	&	&	CCONJ
fbem-14610	264	17	humanities	humanities	PROPN
fbem-14610	264	18	shanghai	shanghai	PROPN
fbem-14610	264	19	international	international	PROPN
fbem-14610	264	20	studies	studies	PROPN
fbem-14610	264	21	university	university	PROPN
fbem-14610	264	22	,	,	PUNCT
fbem-14610	264	23	china	china	PROPN
fbem-14610	264	24	(	(	PUNCT
fbem-14610	264	25	grant	grant	VERB
fbem-14610	264	26	no	no	INTJ
fbem-14610	264	27	.	.	PUNCT
fbem-14610	265	1	xdky223712	xdky223712	PROPN
fbem-14610	265	2	)	)	PUNCT
fbem-14610	265	3	.	.	PUNCT
fbem-14610	266	1	references	reference	NOUN
fbem-14610	266	2	[	[	X
fbem-14610	266	3	1	1	NUM
fbem-14610	266	4	]	]	PUNCT
fbem-14610	266	5	akadiri	akadiri	NOUN
fbem-14610	266	6	,	,	PUNCT
fbem-14610	266	7	s.s	s.s	PROPN
fbem-14610	266	8	.	.	PROPN
fbem-14610	266	9	et	et	PROPN
fbem-14610	266	10	al	al	PROPN
fbem-14610	266	11	.	.	PROPN
fbem-14610	267	1	(	(	PUNCT
fbem-14610	267	2	2018	2018	NUM
fbem-14610	267	3	)	)	PUNCT
fbem-14610	267	4	“	"	PUNCT
fbem-14610	267	5	examining	examine	VERB
fbem-14610	267	6	the	the	DET
fbem-14610	267	7	causal	causal	ADJ
fbem-14610	267	8	impacts	impact	NOUN
fbem-14610	267	9	of	of	ADP
fbem-14610	267	10	tourism	tourism	NOUN
fbem-14610	267	11	,	,	PUNCT
fbem-14610	267	12	globalization	globalization	NOUN
fbem-14610	267	13	,	,	PUNCT
fbem-14610	267	14	economic	economic	ADJ
fbem-14610	267	15	growth	growth	NOUN
fbem-14610	267	16	and	and	CCONJ
fbem-14610	267	17	carbon	carbon	NOUN
fbem-14610	267	18	emissions	emission	NOUN
fbem-14610	267	19	in	in	ADP
fbem-14610	267	20	tourism	tourism	NOUN
fbem-14610	267	21	island	island	NOUN
fbem-14610	267	22	territories	territory	NOUN
fbem-14610	267	23	:	:	PUNCT
fbem-14610	267	24	bootstrap	bootstrap	NOUN
fbem-14610	267	25	panel	panel	NOUN
fbem-14610	267	26	granger	granger	PROPN
fbem-14610	267	27	causality	causality	PROPN
fbem-14610	267	28	analysis	analysis	NOUN
fbem-14610	267	29	,	,	PUNCT
fbem-14610	267	30	”	"	PUNCT
fbem-14610	267	31	current	current	ADJ
fbem-14610	267	32	issues	issue	NOUN
fbem-14610	267	33	in	in	ADP
fbem-14610	267	34	tourism	tourism	NOUN
fbem-14610	267	35	,	,	PUNCT
fbem-14610	267	36	23(4	23(4	NOUN
fbem-14610	267	37	)	)	PUNCT
fbem-14610	267	38	,	,	PUNCT
fbem-14610	267	39	pp	pp	PROPN
fbem-14610	267	40	.	.	PUNCT
fbem-14610	268	1	470	470	NUM
fbem-14610	268	2	–	–	PUNCT
fbem-14610	268	3	484	484	NUM
fbem-14610	268	4	.	.	PUNCT
fbem-14610	268	5	available	available	ADJ
fbem-14610	268	6	at	at	ADP
fbem-14610	268	7	:	:	PUNCT
fbem-14610	268	8	https://doi.org/10.1080/13683500.2018.1539067	https://doi.org/10.1080/13683500.2018.1539067	PUNCT
fbem-14610	268	9	.	.	PUNCT
fbem-14610	269	1	[	[	X
fbem-14610	269	2	2	2	NUM
fbem-14610	269	3	]	]	X
fbem-14610	269	4	dai	dai	PROPN
fbem-14610	269	5	,	,	PUNCT
fbem-14610	269	6	z.	z.	PROPN
fbem-14610	269	7	et	et	PROPN
fbem-14610	269	8	al	al	PROPN
fbem-14610	269	9	.	.	PROPN
fbem-14610	269	10	(	(	PUNCT
fbem-14610	269	11	2020	2020	NUM
fbem-14610	269	12	)	)	PUNCT
fbem-14610	269	13	“	"	PUNCT
fbem-14610	269	14	efficient	efficient	ADJ
fbem-14610	269	15	predictability	predictability	NOUN
fbem-14610	269	16	of	of	ADP
fbem-14610	269	17	stock	stock	NOUN
fbem-14610	269	18	return	return	NOUN
fbem-14610	269	19	volatility	volatility	NOUN
fbem-14610	269	20	:	:	PUNCT
fbem-14610	269	21	the	the	DET
fbem-14610	269	22	role	role	NOUN
fbem-14610	269	23	of	of	ADP
fbem-14610	269	24	stock	stock	NOUN
fbem-14610	269	25	market	market	NOUN
fbem-14610	269	26	implied	imply	VERB
fbem-14610	269	27	volatility	volatility	NOUN
fbem-14610	269	28	,	,	PUNCT
fbem-14610	269	29	”	"	PUNCT
fbem-14610	269	30	the	the	DET
fbem-14610	269	31	north	north	ADJ
fbem-14610	269	32	american	american	ADJ
fbem-14610	269	33	journal	journal	PROPN
fbem-14610	269	34	of	of	ADP
fbem-14610	269	35	economics	economic	NOUN
fbem-14610	269	36	and	and	CCONJ
fbem-14610	269	37	finance	finance	NOUN
fbem-14610	269	38	,	,	PUNCT
fbem-14610	269	39	52	52	NUM
fbem-14610	269	40	.	.	PUNCT
fbem-14610	269	41	available	available	ADJ
fbem-14610	269	42	at	at	ADP
fbem-14610	269	43	:	:	PUNCT
fbem-14610	269	44	https://doi.org/10.1016/j.najef.2020.101174	https://doi.org/10.1016/j.najef.2020.101174	ADV
fbem-14610	269	45	.	.	PUNCT
fbem-14610	270	1	[	[	X
fbem-14610	270	2	3	3	NUM
fbem-14610	270	3	]	]	X
fbem-14610	270	4	dickey	dickey	PROPN
fbem-14610	270	5	,	,	PUNCT
fbem-14610	270	6	d.a	d.a	PROPN
fbem-14610	270	7	.	.	PROPN
fbem-14610	270	8	and	and	CCONJ
fbem-14610	270	9	fuller	full	ADJ
fbem-14610	270	10	,	,	PUNCT
fbem-14610	270	11	w.a	w.a	PROPN
fbem-14610	270	12	.	.	PROPN
fbem-14610	270	13	(	(	PUNCT
fbem-14610	270	14	1981	1981	NUM
fbem-14610	270	15	)	)	PUNCT
fbem-14610	270	16	likelihood	likelihood	NOUN
fbem-14610	270	17	ratio	ratio	NOUN
fbem-14610	270	18	statistics	statistic	NOUN
fbem-14610	270	19	for	for	ADP
fbem-14610	270	20	autoregressive	autoregressive	ADJ
fbem-14610	270	21	time	time	NOUN
fbem-14610	270	22	series	series	NOUN
fbem-14610	270	23	with	with	ADP
fbem-14610	270	24	a	a	DET
fbem-14610	270	25	unit	unit	NOUN
fbem-14610	270	26	root	root	NOUN
fbem-14610	270	27	.	.	PUNCT
fbem-14610	271	1	econometrica	econometrica	PROPN
fbem-14610	271	2	,	,	PUNCT
fbem-14610	271	3	49	49	NUM
fbem-14610	271	4	,	,	PUNCT
fbem-14610	271	5	1057	1057	NUM
fbem-14610	271	6	-	-	SYM
fbem-14610	271	7	1072	1072	NUM
fbem-14610	271	8	.	.	PUNCT
fbem-14610	272	1	available	available	ADJ
fbem-14610	272	2	at	at	ADP
fbem-14610	272	3	:	:	PUNCT
fbem-14610	272	4	https://doi.org/10.2307/1912517	https://doi.org/10.2307/1912517	X
fbem-14610	273	1	[	[	X
fbem-14610	273	2	4	4	NUM
fbem-14610	273	3	]	]	X
fbem-14610	273	4	fama	fama	PROPN
fbem-14610	273	5	,	,	PUNCT
fbem-14610	273	6	e.	e.	PROPN
fbem-14610	273	7	efficient	efficient	ADJ
fbem-14610	273	8	capital	capital	NOUN
fbem-14610	273	9	markets	market	NOUN
fbem-14610	273	10	:	:	PUNCT
fbem-14610	273	11	a	a	DET
fbem-14610	273	12	review	review	NOUN
fbem-14610	273	13	of	of	ADP
fbem-14610	273	14	theory	theory	NOUN
fbem-14610	273	15	and	and	CCONJ
fbem-14610	273	16	empirical	empirical	ADJ
fbem-14610	273	17	work	work	NOUN
fbem-14610	274	1	[	[	X
fbem-14610	274	2	j	j	X
fbem-14610	274	3	]	]	X
fbem-14610	274	4	.	.	PUNCT
fbem-14610	275	1	the	the	DET
fbem-14610	275	2	journal	journal	NOUN
fbem-14610	275	3	of	of	ADP
fbem-14610	275	4	business	business	NOUN
fbem-14610	275	5	,	,	PUNCT
fbem-14610	275	6	1970	1970	NUM
fbem-14610	275	7	,	,	PUNCT
fbem-14610	275	8	39(1	39(1	NUM
fbem-14610	275	9	)	)	PUNCT
fbem-14610	275	10	:	:	PUNCT
fbem-14610	275	11	226417	226417	NUM
fbem-14610	275	12	.	.	PUNCT
fbem-14610	276	1	[	[	X
fbem-14610	276	2	5	5	X
fbem-14610	276	3	]	]	PUNCT
fbem-14610	276	4	he	he	PRON
fbem-14610	276	5	xiao	xiao	PROPN
fbem-14610	276	6	juan	juan	PROPN
fbem-14610	276	7	,	,	PUNCT
fbem-14610	276	8	mishra	mishra	PROPN
fbem-14610	276	9	shekhar	shekhar	PROPN
fbem-14610	276	10	,	,	PUNCT
fbem-14610	276	11	aman	aman	PROPN
fbem-14610	276	12	ameenullah	ameenullah	PROPN
fbem-14610	276	13	,	,	PUNCT
fbem-14610	276	14	shahbaz	shahbaz	PROPN
fbem-14610	276	15	muhammad	muhammad	PROPN
fbem-14610	276	16	,	,	PUNCT
fbem-14610	276	17	razzaq	razzaq	PROPN
fbem-14610	276	18	asif	asif	PROPN
fbem-14610	276	19	,	,	PUNCT
fbem-14610	276	20	sharif	sharif	PROPN
fbem-14610	276	21	arshian	arshian	PROPN
fbem-14610	276	22	.	.	PUNCT
fbem-14610	277	1	the	the	DET
fbem-14610	277	2	contagion	contagion	NOUN
fbem-14610	277	3	between	between	ADP
fbem-14610	277	4	clean	clean	ADJ
fbem-14610	277	5	energy	energy	NOUN
fbem-14610	277	6	stocks	stock	NOUN
fbem-14610	277	7	and	and	CCONJ
fbem-14610	277	8	the	the	DET
fbem-14610	277	9	fluctuations	fluctuation	NOUN
fbem-14610	277	10	in	in	ADP
fbem-14610	277	11	oil	oil	NOUN
fbem-14610	277	12	price	price	NOUN
fbem-14610	277	13	and	and	CCONJ
fbem-14610	277	14	financial	financial	ADJ
fbem-14610	277	15	stress	stress	NOUN
fbem-14610	277	16	in	in	ADP
fbem-14610	277	17	the	the	DET
fbem-14610	277	18	us	us	PROPN
fbem-14610	277	19	and	and	CCONJ
fbem-14610	277	20	europe	europe	PROPN
fbem-14610	277	21	?	?	PUNCT
fbem-14610	278	1	evidence	evidence	NOUN
fbem-14610	278	2	from	from	ADP
fbem-14610	278	3	qardl	qardl	NOUN
fbem-14610	278	4	approach[j	approach[j	PROPN
fbem-14610	278	5	]	]	PUNCT
fbem-14610	278	6	.	.	PUNCT
fbem-14610	279	1	resources	resource	NOUN
fbem-14610	279	2	policy	policy	NOUN
fbem-14610	279	3	,	,	PUNCT
fbem-14610	279	4	2021	2021	NUM
fbem-14610	279	5	,	,	PUNCT
fbem-14610	279	6	72	72	NUM
fbem-14610	279	7	.	.	PUNCT
fbem-14610	280	1	[	[	X
fbem-14610	280	2	6	6	NUM
fbem-14610	280	3	]	]	X
fbem-14610	280	4	hong	hong	PROPN
fbem-14610	280	5	,	,	PUNCT
fbem-14610	280	6	y.	y.	PROPN
fbem-14610	280	7	et	et	PROPN
fbem-14610	280	8	al	al	PROPN
fbem-14610	280	9	.	.	PROPN
fbem-14610	281	1	(	(	PUNCT
fbem-14610	281	2	2022	2022	NUM
fbem-14610	281	3	)	)	PUNCT
fbem-14610	281	4	“	"	PUNCT
fbem-14610	281	5	how	how	SCONJ
fbem-14610	281	6	does	do	AUX
fbem-14610	281	7	the	the	DET
fbem-14610	281	8	covid-19	covid-19	PROPN
fbem-14610	281	9	outbreak	outbreak	NOUN
fbem-14610	281	10	affect	affect	VERB
fbem-14610	281	11	the	the	DET
fbem-14610	281	12	causality	causality	NOUN
fbem-14610	281	13	between	between	ADP
fbem-14610	281	14	gold	gold	NOUN
fbem-14610	281	15	and	and	CCONJ
fbem-14610	281	16	the	the	DET
fbem-14610	281	17	stock	stock	NOUN
fbem-14610	281	18	market	market	NOUN
fbem-14610	281	19	new	new	ADJ
fbem-14610	281	20	evidence	evidence	NOUN
fbem-14610	281	21	from	from	ADP
fbem-14610	281	22	the	the	DET
fbem-14610	281	23	extreme	extreme	ADJ
fbem-14610	281	24	granger	granger	PROPN
fbem-14610	281	25	causality	causality	PROPN
fbem-14610	281	26	test	test	NOUN
fbem-14610	281	27	,	,	PUNCT
fbem-14610	281	28	”	"	PUNCT
fbem-14610	281	29	resources	resource	NOUN
fbem-14610	281	30	policy	policy	NOUN
fbem-14610	281	31	,	,	PUNCT
fbem-14610	281	32	pp	pp	ADJ
fbem-14610	281	33	.	.	PUNCT
fbem-14610	282	1	1–2	1–2	X
fbem-14610	282	2	.	.	PUNCT
fbem-14610	282	3	available	available	ADJ
fbem-14610	282	4	at	at	ADP
fbem-14610	282	5	:	:	PUNCT
fbem-14610	282	6	https://doi.org/10.1016/j.resourpol.2022.102859	https://doi.org/10.1016/j.resourpol.2022.102859	PROPN
fbem-14610	282	7	.	.	PUNCT
fbem-14610	283	1	[	[	X
fbem-14610	283	2	7	7	NUM
fbem-14610	283	3	]	]	X
fbem-14610	283	4	khan	khan	PROPN
fbem-14610	283	5	,	,	PUNCT
fbem-14610	283	6	k.	k.	PROPN
fbem-14610	283	7	et	et	PROPN
fbem-14610	283	8	al	al	PROPN
fbem-14610	283	9	.	.	PROPN
fbem-14610	283	10	(	(	PUNCT
fbem-14610	283	11	2020	2020	NUM
fbem-14610	283	12	)	)	PUNCT
fbem-14610	283	13	“	"	PUNCT
fbem-14610	283	14	the	the	DET
fbem-14610	283	15	impact	impact	NOUN
fbem-14610	283	16	of	of	ADP
fbem-14610	283	17	covid-19	covid-19	PROPN
fbem-14610	283	18	pandemic	pandemic	ADJ
fbem-14610	283	19	on	on	ADP
fbem-14610	283	20	stock	stock	NOUN
fbem-14610	283	21	markets	market	NOUN
fbem-14610	283	22	:	:	PUNCT
fbem-14610	283	23	an	an	DET
fbem-14610	283	24	empirical	empirical	ADJ
fbem-14610	283	25	analysis	analysis	NOUN
fbem-14610	283	26	of	of	ADP
fbem-14610	283	27	world	world	NOUN
fbem-14610	283	28	major	major	ADJ
fbem-14610	283	29	stock	stock	NOUN
fbem-14610	283	30	96	96	NUM
fbem-14610	283	31	indices	index	NOUN
fbem-14610	283	32	,	,	PUNCT
fbem-14610	283	33	”	"	PUNCT
fbem-14610	283	34	the	the	DET
fbem-14610	283	35	journal	journal	NOUN
fbem-14610	283	36	of	of	ADP
fbem-14610	283	37	asian	asian	ADJ
fbem-14610	283	38	finance	finance	NOUN
fbem-14610	283	39	,	,	PUNCT
fbem-14610	283	40	economics	economic	NOUN
fbem-14610	283	41	and	and	CCONJ
fbem-14610	283	42	business	business	NOUN
fbem-14610	283	43	,	,	PUNCT
fbem-14610	283	44	7(7	7(7	NUM
fbem-14610	283	45	)	)	PUNCT
fbem-14610	283	46	,	,	PUNCT
fbem-14610	283	47	pp	pp	ADP
fbem-14610	283	48	.	.	PUNCT
fbem-14610	284	1	463–474	463–474	NUM
fbem-14610	284	2	.	.	PUNCT
fbem-14610	284	3	available	available	ADJ
fbem-14610	284	4	at	at	ADP
fbem-14610	284	5	:	:	PUNCT
fbem-14610	284	6	https://doi.org/10.13106/jafeb.2020.vol7.no7.463	https://doi.org/10.13106/jafeb.2020.vol7.no7.463	ADJ
fbem-14610	284	7	.	.	PUNCT
fbem-14610	285	1	[	[	X
fbem-14610	285	2	8	8	X
fbem-14610	285	3	]	]	X
fbem-14610	285	4	king	king	NOUN
fbem-14610	285	5	m	m	PROPN
fbem-14610	285	6	a	a	PROPN
fbem-14610	285	7	,	,	PUNCT
fbem-14610	285	8	wadhwani	wadhwani	PROPN
fbem-14610	285	9	s.	s.	PROPN
fbem-14610	285	10	transmission	transmission	NOUN
fbem-14610	285	11	of	of	ADP
fbem-14610	285	12	volatility	volatility	NOUN
fbem-14610	285	13	between	between	ADP
fbem-14610	285	14	stock	stock	NOUN
fbem-14610	285	15	markets	market	NOUN
fbem-14610	285	16	[	[	X
fbem-14610	285	17	j	j	X
fbem-14610	285	18	]	]	X
fbem-14610	285	19	.	.	PUNCT
fbem-14610	286	1	the	the	DET
fbem-14610	286	2	review	review	NOUN
fbem-14610	286	3	of	of	ADP
fbem-14610	286	4	financial	financial	ADJ
fbem-14610	286	5	studies	study	NOUN
fbem-14610	286	6	,	,	PUNCT
fbem-14610	286	7	1990,3(1	1990,3(1	NUM
fbem-14610	286	8	)	)	PUNCT
fbem-14610	286	9	:	:	PUNCT
fbem-14610	286	10	5	5	NUM
fbem-14610	286	11	-	-	SYM
fbem-14610	286	12	33．	33．	PROPN
fbem-14610	287	1	[	[	X
fbem-14610	287	2	9	9	NUM
fbem-14610	287	3	]	]	X
fbem-14610	287	4	lucas	lucas	PROPN
fbem-14610	287	5	,	,	PUNCT
fbem-14610	287	6	r.	r.	PROPN
fbem-14610	287	7	e	e	PROPN
fbem-14610	287	8	,	,	PUNCT
fbem-14610	287	9	jr	jr	PROPN
fbem-14610	287	10	.	.	PROPN
fbem-14610	287	11	expectations	expectation	NOUN
fbem-14610	287	12	and	and	CCONJ
fbem-14610	287	13	the	the	DET
fbem-14610	287	14	neutrality	neutrality	NOUN
fbem-14610	287	15	of	of	ADP
fbem-14610	287	16	money	money	NOUN
fbem-14610	288	1	[	[	X
fbem-14610	288	2	j	j	X
fbem-14610	288	3	]	]	X
fbem-14610	288	4	.	.	PUNCT
fbem-14610	289	1	journal	journal	PROPN
fbem-14610	289	2	of	of	ADP
fbem-14610	289	3	economic	economic	ADJ
fbem-14610	289	4	theory	theory	NOUN
fbem-14610	289	5	,	,	PUNCT
fbem-14610	289	6	1972	1972	NUM
fbem-14610	289	7	,	,	PUNCT
fbem-14610	289	8	4(2	4(2	NUM
fbem-14610	289	9	)	)	PUNCT
fbem-14610	289	10	:	:	PUNCT
fbem-14610	289	11	103	103	NUM
fbem-14610	289	12	-	-	SYM
fbem-14610	289	13	123	123	NUM
fbem-14610	289	14	.	.	PUNCT
fbem-14610	290	1	[	[	X
fbem-14610	290	2	10	10	NUM
fbem-14610	290	3	]	]	X
fbem-14610	290	4	sansa	sansa	PROPN
fbem-14610	290	5	,	,	PUNCT
fbem-14610	290	6	n.a	n.a	PROPN
fbem-14610	290	7	.	.	PROPN
fbem-14610	290	8	(	(	PUNCT
fbem-14610	290	9	2020	2020	NUM
fbem-14610	290	10	)	)	PUNCT
fbem-14610	290	11	the	the	DET
fbem-14610	290	12	impact	impact	NOUN
fbem-14610	290	13	of	of	ADP
fbem-14610	290	14	the	the	DET
fbem-14610	290	15	covid	covid	NOUN
fbem-14610	290	16	19	19	NUM
fbem-14610	290	17	on	on	ADP
fbem-14610	290	18	the	the	DET
fbem-14610	290	19	financial	financial	ADJ
fbem-14610	290	20	markets	market	NOUN
fbem-14610	290	21	:	:	PUNCT
fbem-14610	290	22	evidence	evidence	NOUN
fbem-14610	290	23	from	from	ADP
fbem-14610	290	24	china	china	PROPN
fbem-14610	290	25	and	and	CCONJ
fbem-14610	290	26	usa	usa	PROPN
fbem-14610	290	27	,	,	PUNCT
fbem-14610	290	28	electronic	electronic	ADJ
fbem-14610	290	29	research	research	NOUN
fbem-14610	290	30	journal	journal	NOUN
fbem-14610	290	31	of	of	ADP
fbem-14610	290	32	social	social	ADJ
fbem-14610	290	33	sciences	science	NOUN
fbem-14610	290	34	and	and	CCONJ
fbem-14610	290	35	humanities	humanity	NOUN
fbem-14610	290	36	.	.	PUNCT
fbem-14610	291	1	available	available	ADJ
fbem-14610	291	2	at	at	ADP
fbem-14610	291	3	:	:	PUNCT
fbem-14610	291	4	http://www.strategicjournals.com/index.php/journal/article/vie	http://www.strategicjournals.com/index.php/journal/article/vie	NOUN
fbem-14610	291	5	w/1903	w/1903	NOUN
fbem-14610	291	6	.	.	PUNCT
fbem-14610	292	1	[	[	X
fbem-14610	292	2	11	11	NUM
fbem-14610	292	3	]	]	PUNCT
fbem-14610	292	4	skare	skare	NOUN
fbem-14610	292	5	,	,	PUNCT
fbem-14610	292	6	m.	m.	NOUN
fbem-14610	292	7	and	and	CCONJ
fbem-14610	292	8	porada	porada	NOUN
fbem-14610	292	9	-	-	PUNCT
fbem-14610	292	10	rochoń	rochoń	PROPN
fbem-14610	292	11	,	,	PUNCT
fbem-14610	292	12	m.	m.	NOUN
fbem-14610	292	13	(	(	PUNCT
fbem-14610	292	14	2019	2019	NUM
fbem-14610	292	15	)	)	PUNCT
fbem-14610	292	16	“	"	PUNCT
fbem-14610	292	17	financial	financial	ADJ
fbem-14610	292	18	and	and	CCONJ
fbem-14610	292	19	economic	economic	ADJ
fbem-14610	292	20	development	development	NOUN
fbem-14610	292	21	link	link	NOUN
fbem-14610	292	22	in	in	ADP
fbem-14610	292	23	transitional	transitional	ADJ
fbem-14610	292	24	economies	economy	NOUN
fbem-14610	292	25	:	:	PUNCT
fbem-14610	292	26	a	a	DET
fbem-14610	292	27	spectral	spectral	ADJ
fbem-14610	292	28	granger	granger	NOUN
fbem-14610	292	29	causality	causality	NOUN
fbem-14610	292	30	analysis	analysis	NOUN
fbem-14610	292	31	1991–2017	1991–2017	NUM
fbem-14610	292	32	,	,	PUNCT
fbem-14610	292	33	”	"	PUNCT
fbem-14610	292	34	oeconomia	oeconomia	NOUN
fbem-14610	292	35	copernicana	copernicana	PROPN
fbem-14610	292	36	,	,	PUNCT
fbem-14610	292	37	10(1	10(1	NUM
fbem-14610	292	38	)	)	PUNCT
fbem-14610	292	39	,	,	PUNCT
fbem-14610	292	40	pp	pp	PROPN
fbem-14610	292	41	.	.	PUNCT
fbem-14610	293	1	7–35	7–35	PROPN
fbem-14610	293	2	.	.	PUNCT
fbem-14610	293	3	available	available	ADJ
fbem-14610	293	4	at	at	ADP
fbem-14610	293	5	:	:	PUNCT
fbem-14610	293	6	https://doi.org/10.24136/oc.2019.001	https://doi.org/10.24136/oc.2019.001	PROPN
fbem-14610	293	7	.	.	PUNCT
fbem-14610	294	1	[	[	X
fbem-14610	294	2	12	12	NUM
fbem-14610	294	3	]	]	X
fbem-14610	294	4	zeren	zeren	PROPN
fbem-14610	294	5	,	,	PUNCT
fbem-14610	294	6	f.	f.	PROPN
fbem-14610	294	7	and	and	CCONJ
fbem-14610	294	8	hizarci	hizarci	PROPN
fbem-14610	294	9	,	,	PUNCT
fbem-14610	294	10	a.	a.	NOUN
fbem-14610	294	11	(	(	PUNCT
fbem-14610	294	12	2020	2020	NUM
fbem-14610	294	13	)	)	PUNCT
fbem-14610	294	14	“	"	PUNCT
fbem-14610	294	15	the	the	DET
fbem-14610	294	16	impact	impact	NOUN
fbem-14610	294	17	of	of	ADP
fbem-14610	294	18	covid-19	covid-19	PROPN
fbem-14610	294	19	coronavirus	coronavirus	NOUN
fbem-14610	294	20	on	on	ADP
fbem-14610	294	21	stock	stock	NOUN
fbem-14610	294	22	markets	market	NOUN
fbem-14610	294	23	:	:	PUNCT
fbem-14610	294	24	evidence	evidence	NOUN
fbem-14610	294	25	from	from	ADP
fbem-14610	294	26	selected	select	VERB
fbem-14610	294	27	countries	country	NOUN
fbem-14610	294	28	,	,	PUNCT
fbem-14610	294	29	”	"	PUNCT
fbem-14610	294	30	muhasebe	muhasebe	PROPN
fbem-14610	294	31	ve	ve	AUX
fbem-14610	294	32	finans	finans	PROPN
fbem-14610	294	33	i̇ncelemeleri	i̇ncelemeleri	PROPN
fbem-14610	294	34	dergisi	dergisi	PROPN
fbem-14610	294	35	,	,	PUNCT
fbem-14610	294	36	pp	pp	ADJ
fbem-14610	294	37	.	.	PUNCT
fbem-14610	295	1	78	78	NUM
fbem-14610	295	2	–	–	PUNCT
fbem-14610	295	3	84	84	NUM
fbem-14610	295	4	.	.	PUNCT
fbem-14610	295	5	available	available	ADJ
fbem-14610	295	6	at	at	ADP
fbem-14610	295	7	:	:	PUNCT
fbem-14610	295	8	https://doi.org/10.32951/mufider.706159	https://doi.org/10.32951/mufider.706159	ADJ
fbem-14610	295	9	.	.	PUNCT
fbem-14610	296	1	[	[	X
fbem-14610	296	2	13	13	NUM
fbem-14610	296	3	]	]	X
fbem-14610	296	4	jin	jin	PROPN
fbem-14610	296	5	jiaqi	jiaqi	PROPN
fbem-14610	296	6	.	.	PUNCT
fbem-14610	297	1	empirical	empirical	ADJ
fbem-14610	297	2	analysis	analysis	NOUN
fbem-14610	297	3	of	of	ADP
fbem-14610	297	4	contagion	contagion	NOUN
fbem-14610	297	5	effect	effect	NOUN
fbem-14610	297	6	between	between	ADP
fbem-14610	297	7	mainland	mainland	NOUN
fbem-14610	297	8	and	and	CCONJ
fbem-14610	297	9	hong	hong	PROPN
fbem-14610	297	10	kong	kong	PROPN
fbem-14610	297	11	stock	stock	NOUN
fbem-14610	297	12	markets	market	NOUN
fbem-14610	298	1	[	[	X
fbem-14610	298	2	d	d	X
fbem-14610	298	3	]	]	X
fbem-14610	298	4	.	.	PUNCT
fbem-14610	299	1	nanjing	nanjing	PROPN
fbem-14610	299	2	university	university	PROPN
fbem-14610	299	3	of	of	ADP
fbem-14610	299	4	science	science	NOUN
fbem-14610	299	5	and	and	CCONJ
fbem-14610	299	6	technology	technology	NOUN
fbem-14610	299	7	,	,	PUNCT
fbem-14610	299	8	2019	2019	NUM
fbem-14610	299	9	.	.	PUNCT
fbem-14610	300	1	[	[	X
fbem-14610	300	2	14	14	NUM
fbem-14610	300	3	]	]	X
fbem-14610	300	4	lan	lan	PROPN
fbem-14610	300	5	bo	bo	PROPN
fbem-14610	300	6	,	,	PUNCT
fbem-14610	300	7	zhuang	zhuang	PROPN
fbem-14610	300	8	lei	lei	PROPN
fbem-14610	300	9	.	.	PROPN
fbem-14610	300	10	study	study	NOUN
fbem-14610	300	11	on	on	ADP
fbem-14610	300	12	the	the	DET
fbem-14610	300	13	impact	impact	NOUN
fbem-14610	300	14	of	of	ADP
fbem-14610	300	15	the	the	DET
fbem-14610	300	16	covid-19	covid-19	PROPN
fbem-14610	300	17	pandemic	pandemic	NOUN
fbem-14610	300	18	on	on	ADP
fbem-14610	300	19	financial	financial	ADJ
fbem-14610	300	20	markets	market	NOUN
fbem-14610	300	21	[	[	X
fbem-14610	300	22	j	j	X
fbem-14610	300	23	]	]	X
fbem-14610	300	24	.	.	PUNCT
fbem-14610	301	1	statistics	statistic	NOUN
fbem-14610	301	2	and	and	CCONJ
fbem-14610	301	3	decisionmaking	decisionmake	VERB
fbem-14610	301	4	,	,	PUNCT
fbem-14610	301	5	2021	2021	NUM
fbem-14610	301	6	,	,	PUNCT
fbem-14610	301	7	37(05	37(05	PROPN
fbem-14610	301	8	):	):	PUNCT
fbem-14610	301	9	129	129	NUM
fbem-14610	301	10	-	-	SYM
fbem-14610	301	11	133	133	NUM
fbem-14610	301	12	.	.	PUNCT
fbem-14610	302	1	[	[	X
fbem-14610	302	2	15	15	NUM
fbem-14610	302	3	]	]	X
fbem-14610	302	4	wang	wang	PROPN
fbem-14610	302	5	tao	tao	PROPN
fbem-14610	302	6	,	,	PUNCT
fbem-14610	302	7	dong	dong	PROPN
fbem-14610	302	8	mei	mei	PROPN
fbem-14610	302	9	sheng	sheng	PROPN
fbem-14610	302	10	.	.	PUNCT
fbem-14610	303	1	research	research	NOUN
fbem-14610	303	2	on	on	ADP
fbem-14610	303	3	the	the	DET
fbem-14610	303	4	dynamic	dynamic	ADJ
fbem-14610	303	5	contagion	contagion	NOUN
fbem-14610	303	6	of	of	ADP
fbem-14610	303	7	shenzhen	shenzhen	PROPN
fbem-14610	303	8	-	-	PUNCT
fbem-14610	303	9	hong	hong	PROPN
fbem-14610	303	10	kong	kong	PROPN
fbem-14610	303	11	stock	stock	NOUN
fbem-14610	303	12	markets	market	NOUN
fbem-14610	303	13	under	under	ADP
fbem-14610	303	14	the	the	DET
fbem-14610	303	15	'	'	PUNCT
fbem-14610	303	16	shenzhen	shenzhen	PROPN
fbem-14610	303	17	-	-	PUNCT
fbem-14610	303	18	hong	hong	PROPN
fbem-14610	303	19	kong	kong	PROPN
fbem-14610	303	20	stock	stock	PROPN
fbem-14610	303	21	connect	connect	PROPN
fbem-14610	303	22	'	'	PART
fbem-14610	303	23	policy	policy	NOUN
fbem-14610	303	24	—	—	PUNCT
fbem-14610	303	25	an	an	DET
fbem-14610	303	26	empirical	empirical	ADJ
fbem-14610	303	27	analysis	analysis	NOUN
fbem-14610	303	28	based	base	VERB
fbem-14610	303	29	on	on	ADP
fbem-14610	303	30	the	the	DET
fbem-14610	303	31	gjr	gjr	NOUN
fbem-14610	303	32	-	-	PUNCT
fbem-14610	303	33	garch	garch	NOUN
fbem-14610	303	34	-	-	PUNCT
fbem-14610	303	35	dcc	dcc	NOUN
fbem-14610	303	36	model	model	NOUN
fbem-14610	304	1	[	[	X
fbem-14610	304	2	j	j	X
fbem-14610	304	3	]	]	X
fbem-14610	304	4	.	.	PUNCT
fbem-14610	305	1	regional	regional	ADJ
fbem-14610	305	2	financial	financial	ADJ
fbem-14610	305	3	research	research	NOUN
fbem-14610	305	4	,	,	PUNCT
fbem-14610	305	5	2018(11	2018(11	NUM
fbem-14610	305	6	):	):	PUNCT
fbem-14610	305	7	05	05	NUM
fbem-14610	305	8	-	-	SYM
fbem-14610	305	9	14	14	NUM
fbem-14610	305	10	.	.	PUNCT
fbem-14610	306	1	[	[	X
fbem-14610	306	2	16	16	NUM
fbem-14610	306	3	]	]	X
fbem-14610	306	4	wu	wu	PROPN
fbem-14610	306	5	xiao	xiao	PROPN
fbem-14610	306	6	fei	fei	PROPN
fbem-14610	306	7	,	,	PUNCT
fbem-14610	306	8	zhu	zhu	PROPN
fbem-14610	306	9	shu	shu	PROPN
fbem-14610	306	10	zhen	zhen	PROPN
fbem-14610	306	11	,	,	PUNCT
fbem-14610	306	12	bai	bai	PROPN
fbem-14610	306	13	zheng	zheng	PROPN
fbem-14610	306	14	wu	wu	PROPN
fbem-14610	306	15	.	.	PUNCT
fbem-14610	307	1	research	research	NOUN
fbem-14610	307	2	on	on	ADP
fbem-14610	307	3	the	the	DET
fbem-14610	307	4	dynamic	dynamic	ADJ
fbem-14610	307	5	contagion	contagion	NOUN
fbem-14610	307	6	between	between	ADP
fbem-14610	307	7	a	a	DET
fbem-14610	307	8	-	-	PUNCT
fbem-14610	307	9	share	share	NOUN
fbem-14610	307	10	and	and	CCONJ
fbem-14610	307	11	hong	hong	PROPN
fbem-14610	307	12	kong	kong	PROPN
fbem-14610	307	13	stock	stock	NOUN
fbem-14610	307	14	markets	market	NOUN
fbem-14610	307	15	based	base	VERB
fbem-14610	307	16	on	on	ADP
fbem-14610	307	17	the	the	DET
fbem-14610	307	18	mrs	mrs	PROPN
fbem-14610	307	19	-	-	PUNCT
fbem-14610	307	20	sjc	sjc	NOUN
fbem-14610	307	21	-	-	PUNCT
fbem-14610	307	22	copula	copula	NOUN
fbem-14610	307	23	model	model	NOUN
fbem-14610	308	1	[	[	X
fbem-14610	308	2	j	j	X
fbem-14610	308	3	]	]	X
fbem-14610	308	4	.	.	PUNCT
fbem-14610	309	1	operations	operation	NOUN
fbem-14610	309	2	research	research	NOUN
fbem-14610	309	3	and	and	CCONJ
fbem-14610	309	4	management	management	NOUN
fbem-14610	309	5	,	,	PUNCT
fbem-14610	309	6	2020	2020	NUM
fbem-14610	309	7	,	,	PUNCT
fbem-14610	309	8	29(01	29(01	NUM
fbem-14610	309	9	):	):	PUNCT
fbem-14610	309	10	176	176	NUM
fbem-14610	309	11	-	-	SYM
fbem-14610	309	12	184	184	NUM
fbem-14610	309	13	.	.	PUNCT
fbem-14610	310	1	[	[	X
fbem-14610	310	2	17	17	NUM
fbem-14610	310	3	]	]	X
fbem-14610	310	4	zhang	zhang	PROPN
fbem-14610	310	5	qian	qian	PROPN
fbem-14610	310	6	wei	wei	PROPN
fbem-14610	310	7	.	.	PUNCT
fbem-14610	311	1	analysis	analysis	NOUN
fbem-14610	311	2	of	of	ADP
fbem-14610	311	3	market	market	NOUN
fbem-14610	311	4	contagion	contagion	NOUN
fbem-14610	311	5	between	between	ADP
fbem-14610	311	6	china	china	PROPN
fbem-14610	311	7	and	and	CCONJ
fbem-14610	311	8	the	the	DET
fbem-14610	311	9	united	united	PROPN
fbem-14610	311	10	states	states	PROPN
fbem-14610	311	11	under	under	ADP
fbem-14610	311	12	the	the	DET
fbem-14610	311	13	context	context	NOUN
fbem-14610	311	14	of	of	ADP
fbem-14610	311	15	the	the	DET
fbem-14610	311	16	covid-19	covid-19	PROPN
fbem-14610	311	17	pandemic	pandemic	ADJ
fbem-14610	312	1	[	[	X
fbem-14610	312	2	d	d	X
fbem-14610	312	3	]	]	X
fbem-14610	312	4	.	.	PUNCT
fbem-14610	313	1	shanghai	shanghai	PROPN
fbem-14610	313	2	international	international	PROPN
fbem-14610	313	3	studies	studies	PROPN
fbem-14610	313	4	university	university	NOUN
fbem-14610	313	5	,	,	PUNCT
fbem-14610	313	6	2021	2021	NUM
fbem-14610	313	7	.	.	PUNCT
fbem-14610	314	1	[	[	X
fbem-14610	314	2	18	18	NUM
fbem-14610	314	3	]	]	X
fbem-14610	314	4	zhao	zhao	PROPN
fbem-14610	314	5	shanshan	shanshan	PROPN
fbem-14610	314	6	,	,	PUNCT
fbem-14610	314	7	yin	yin	PROPN
fbem-14610	314	8	guang	guang	PROPN
fbem-14610	314	9	wei	wei	PROPN
fbem-14610	314	10	.	.	PUNCT
fbem-14610	315	1	research	research	NOUN
fbem-14610	315	2	on	on	ADP
fbem-14610	315	3	the	the	DET
fbem-14610	315	4	impact	impact	NOUN
fbem-14610	315	5	of	of	ADP
fbem-14610	315	6	shanghai	shanghai	PROPN
fbem-14610	315	7	-	-	PUNCT
fbem-14610	315	8	hong	hong	PROPN
fbem-14610	315	9	kong	kong	PROPN
fbem-14610	315	10	stock	stock	PROPN
fbem-14610	315	11	connect	connect	NOUN
fbem-14610	315	12	on	on	ADP
fbem-14610	315	13	the	the	DET
fbem-14610	315	14	contagion	contagion	NOUN
fbem-14610	315	15	between	between	ADP
fbem-14610	315	16	shanghai	shanghai	PROPN
fbem-14610	315	17	and	and	CCONJ
fbem-14610	315	18	hong	hong	PROPN
fbem-14610	315	19	kong	kong	PROPN
fbem-14610	315	20	stock	stock	NOUN
fbem-14610	315	21	markets	market	NOUN
fbem-14610	316	1	[	[	X
fbem-14610	316	2	j	j	X
fbem-14610	316	3	]	]	X
fbem-14610	316	4	.	.	PUNCT
fbem-14610	317	1	guide	guide	VERB
fbem-14610	317	2	to	to	ADP
fbem-14610	317	3	popular	popular	ADJ
fbem-14610	317	4	investment	investment	NOUN
fbem-14610	317	5	,	,	PUNCT
fbem-14610	317	6	2020(03	2020(03	NUM
fbem-14610	317	7	):	):	PUNCT
fbem-14610	317	8	4	4	NUM
fbem-14610	317	9	-	-	SYM
fbem-14610	317	10	5	5	NUM
fbem-14610	317	11	.	.	PUNCT