id	sid	tid	token	lemma	pos
fbem-14891	1	1	frontiers	frontier	NOUN
fbem-14891	1	2	in	in	ADP
fbem-14891	1	3	business	business	NOUN
fbem-14891	1	4	,	,	PUNCT
fbem-14891	1	5	economics	economic	NOUN
fbem-14891	1	6	and	and	CCONJ
fbem-14891	1	7	management	management	NOUN
fbem-14891	1	8	issn	issn	PROPN
fbem-14891	1	9	:	:	PUNCT
fbem-14891	1	10	2766	2766	NUM
fbem-14891	1	11	-	-	PUNCT
fbem-14891	1	12	824x	824x	NUM
fbem-14891	1	13	|	|	ADJ
fbem-14891	1	14	vol	vol	NOUN
fbem-14891	1	15	.	.	PROPN
fbem-14891	2	1	12	12	NUM
fbem-14891	2	2	,	,	PUNCT
fbem-14891	2	3	no	no	INTJ
fbem-14891	2	4	.	.	NOUN
fbem-14891	2	5	2	2	NUM
fbem-14891	2	6	,	,	PUNCT
fbem-14891	2	7	2023	2023	NUM
fbem-14891	2	8	251	251	NUM
fbem-14891	2	9	study	study	NOUN
fbem-14891	2	10	on	on	ADP
fbem-14891	2	11	the	the	DET
fbem-14891	2	12	fluctuation	fluctuation	NOUN
fbem-14891	2	13	spillover	spillover	NOUN
fbem-14891	2	14	effect	effect	NOUN
fbem-14891	2	15	between	between	ADP
fbem-14891	2	16	china	china	PROPN
fbem-14891	2	17	's	's	PART
fbem-14891	2	18	carbon	carbon	NOUN
fbem-14891	2	19	market	market	NOUN
fbem-14891	2	20	and	and	CCONJ
fbem-14891	2	21	new	new	ADJ
fbem-14891	2	22	energy	energy	NOUN
fbem-14891	2	23	market	market	NOUN
fbem-14891	2	24	jiulong	jiulong	PROPN
fbem-14891	2	25	peng	peng	PROPN
fbem-14891	2	26	,	,	PUNCT
fbem-14891	2	27	yuxin	yuxin	PROPN
fbem-14891	2	28	pang	pang	PROPN
fbem-14891	2	29	,	,	PUNCT
fbem-14891	2	30	jun	jun	PROPN
fbem-14891	2	31	chen	chen	PROPN
fbem-14891	2	32	and	and	CCONJ
fbem-14891	2	33	shitao	shitao	PROPN
fbem-14891	2	34	guan	guan	PROPN
fbem-14891	2	35	*	*	PROPN
fbem-14891	2	36	1anhui	1anhui	NUM
fbem-14891	2	37	university	university	NOUN
fbem-14891	2	38	of	of	ADP
fbem-14891	2	39	finance	finance	NOUN
fbem-14891	2	40	and	and	CCONJ
fbem-14891	2	41	economics	economic	NOUN
fbem-14891	2	42	,	,	PUNCT
fbem-14891	2	43	bengbu	bengbu	NOUN
fbem-14891	2	44	,	,	PUNCT
fbem-14891	2	45	china	china	PROPN
fbem-14891	2	46	*	*	PUNCT
fbem-14891	2	47	corresponding	correspond	VERB
fbem-14891	2	48	author	author	NOUN
fbem-14891	2	49	:	:	PUNCT
fbem-14891	2	50	jiulong	jiulong	PROPN
fbem-14891	2	51	peng	peng	PROPN
fbem-14891	2	52	(	(	PUNCT
fbem-14891	2	53	email	email	NOUN
fbem-14891	2	54	:	:	PUNCT
fbem-14891	2	55	pengjiulong123@163.com	pengjiulong123@163.com	X
fbem-14891	2	56	)	)	PUNCT
fbem-14891	2	57	abstract	abstract	NOUN
fbem-14891	2	58	:	:	PUNCT
fbem-14891	2	59	this	this	DET
fbem-14891	2	60	project	project	NOUN
fbem-14891	2	61	analyzes	analyze	VERB
fbem-14891	2	62	the	the	DET
fbem-14891	2	63	volatility	volatility	NOUN
fbem-14891	2	64	spillover	spillover	VERB
fbem-14891	2	65	effect	effect	NOUN
fbem-14891	2	66	of	of	ADP
fbem-14891	2	67	china	china	PROPN
fbem-14891	2	68	's	's	PART
fbem-14891	2	69	carbon	carbon	NOUN
fbem-14891	2	70	market	market	NOUN
fbem-14891	2	71	and	and	CCONJ
fbem-14891	2	72	new	new	ADJ
fbem-14891	2	73	energy	energy	NOUN
fbem-14891	2	74	market	market	NOUN
fbem-14891	2	75	,	,	PUNCT
fbem-14891	2	76	which	which	PRON
fbem-14891	2	77	is	be	AUX
fbem-14891	2	78	crucial	crucial	ADJ
fbem-14891	2	79	to	to	PART
fbem-14891	2	80	effectively	effectively	ADV
fbem-14891	2	81	prevent	prevent	VERB
fbem-14891	2	82	systematic	systematic	ADJ
fbem-14891	2	83	risk	risk	NOUN
fbem-14891	2	84	,	,	PUNCT
fbem-14891	2	85	promote	promote	VERB
fbem-14891	2	86	low	low	ADJ
fbem-14891	2	87	-	-	PUNCT
fbem-14891	2	88	carbon	carbon	NOUN
fbem-14891	2	89	transformation	transformation	NOUN
fbem-14891	2	90	of	of	ADP
fbem-14891	2	91	the	the	DET
fbem-14891	2	92	energy	energy	NOUN
fbem-14891	2	93	market	market	NOUN
fbem-14891	2	94	and	and	CCONJ
fbem-14891	2	95	ensure	ensure	VERB
fbem-14891	2	96	stable	stable	ADJ
fbem-14891	2	97	economic	economic	ADJ
fbem-14891	2	98	growth	growth	NOUN
fbem-14891	2	99	.	.	PUNCT
fbem-14891	3	1	firstly	firstly	ADV
fbem-14891	3	2	,	,	PUNCT
fbem-14891	3	3	based	base	VERB
fbem-14891	3	4	on	on	ADP
fbem-14891	3	5	the	the	DET
fbem-14891	3	6	spillover	spillover	NOUN
fbem-14891	3	7	index	index	NOUN
fbem-14891	3	8	model	model	NOUN
fbem-14891	3	9	,	,	PUNCT
fbem-14891	3	10	we	we	PRON
fbem-14891	3	11	examine	examine	VERB
fbem-14891	3	12	the	the	DET
fbem-14891	3	13	dynamic	dynamic	ADJ
fbem-14891	3	14	interdependence	interdependence	NOUN
fbem-14891	3	15	between	between	ADP
fbem-14891	3	16	china	china	PROPN
fbem-14891	3	17	's	's	PART
fbem-14891	3	18	carbon	carbon	NOUN
fbem-14891	3	19	market	market	NOUN
fbem-14891	3	20	and	and	CCONJ
fbem-14891	3	21	the	the	DET
fbem-14891	3	22	new	new	ADJ
fbem-14891	3	23	energy	energy	NOUN
fbem-14891	3	24	market	market	NOUN
fbem-14891	3	25	;	;	PUNCT
fbem-14891	3	26	secondly	secondly	ADV
fbem-14891	3	27	,	,	PUNCT
fbem-14891	3	28	in	in	ADP
fbem-14891	3	29	order	order	NOUN
fbem-14891	3	30	to	to	PART
fbem-14891	3	31	capture	capture	VERB
fbem-14891	3	32	market	market	NOUN
fbem-14891	3	33	asymmetry	asymmetry	NOUN
fbem-14891	3	34	,	,	PUNCT
fbem-14891	3	35	this	this	DET
fbem-14891	3	36	project	project	NOUN
fbem-14891	3	37	decomposes	decompose	VERB
fbem-14891	3	38	the	the	DET
fbem-14891	3	39	total	total	ADJ
fbem-14891	3	40	volatility	volatility	NOUN
fbem-14891	3	41	into	into	ADP
fbem-14891	3	42	good	good	ADJ
fbem-14891	3	43	volatility	volatility	NOUN
fbem-14891	3	44	and	and	CCONJ
fbem-14891	3	45	bad	bad	ADJ
fbem-14891	3	46	volatility	volatility	NOUN
fbem-14891	3	47	based	base	VERB
fbem-14891	3	48	on	on	ADP
fbem-14891	3	49	the	the	DET
fbem-14891	3	50	gjr	gjr	NOUN
fbem-14891	3	51	-	-	PUNCT
fbem-14891	3	52	garch	garch	NOUN
fbem-14891	3	53	model	model	NOUN
fbem-14891	3	54	,	,	PUNCT
fbem-14891	3	55	and	and	CCONJ
fbem-14891	3	56	further	far	ADV
fbem-14891	3	57	explores	explore	VERB
fbem-14891	3	58	the	the	DET
fbem-14891	3	59	asymmetric	asymmetric	ADJ
fbem-14891	3	60	spillover	spillover	NOUN
fbem-14891	3	61	effects	effect	NOUN
fbem-14891	3	62	between	between	ADP
fbem-14891	3	63	these	these	DET
fbem-14891	3	64	two	two	NUM
fbem-14891	3	65	types	type	NOUN
fbem-14891	3	66	of	of	ADP
fbem-14891	3	67	markets	market	NOUN
fbem-14891	3	68	.	.	PUNCT
fbem-14891	4	1	finally	finally	ADV
fbem-14891	4	2	,	,	PUNCT
fbem-14891	4	3	the	the	DET
fbem-14891	4	4	marginal	marginal	ADJ
fbem-14891	4	5	net	net	ADJ
fbem-14891	4	6	spillover	spillover	NOUN
fbem-14891	4	7	index	index	NOUN
fbem-14891	4	8	(	(	PUNCT
fbem-14891	4	9	mns	mns	PROPN
fbem-14891	4	10	)	)	PUNCT
fbem-14891	4	11	method	method	NOUN
fbem-14891	4	12	is	be	AUX
fbem-14891	4	13	used	use	VERB
fbem-14891	4	14	to	to	PART
fbem-14891	4	15	explore	explore	VERB
fbem-14891	4	16	the	the	DET
fbem-14891	4	17	main	main	ADJ
fbem-14891	4	18	sources	source	NOUN
fbem-14891	4	19	and	and	CCONJ
fbem-14891	4	20	paths	path	NOUN
fbem-14891	4	21	of	of	ADP
fbem-14891	4	22	risk	risk	NOUN
fbem-14891	4	23	transmission	transmission	NOUN
fbem-14891	4	24	in	in	ADP
fbem-14891	4	25	china	china	PROPN
fbem-14891	4	26	's	's	PART
fbem-14891	4	27	carbon	carbon	NOUN
fbem-14891	4	28	market	market	NOUN
fbem-14891	4	29	and	and	CCONJ
fbem-14891	4	30	new	new	ADJ
fbem-14891	4	31	energy	energy	NOUN
fbem-14891	4	32	market	market	NOUN
fbem-14891	4	33	under	under	ADP
fbem-14891	4	34	the	the	DET
fbem-14891	4	35	impact	impact	NOUN
fbem-14891	4	36	of	of	ADP
fbem-14891	4	37	major	major	ADJ
fbem-14891	4	38	events	event	NOUN
fbem-14891	4	39	such	such	ADJ
fbem-14891	4	40	as	as	ADP
fbem-14891	4	41	the	the	DET
fbem-14891	4	42	china	china	PROPN
fbem-14891	4	43	–	–	PUNCT
fbem-14891	4	44	united	united	PROPN
fbem-14891	4	45	states	states	PROPN
fbem-14891	4	46	trade	trade	PROPN
fbem-14891	4	47	war	war	PROPN
fbem-14891	4	48	,	,	PUNCT
fbem-14891	4	49	the	the	DET
fbem-14891	4	50	covid-19	covid-19	PROPN
fbem-14891	4	51	and	and	CCONJ
fbem-14891	4	52	the	the	DET
fbem-14891	4	53	russia	russia	PROPN
fbem-14891	4	54	-	-	PUNCT
fbem-14891	4	55	ukraine	ukraine	PROPN
fbem-14891	4	56	conflict	conflict	NOUN
fbem-14891	4	57	.	.	PUNCT
fbem-14891	5	1	therefore	therefore	ADV
fbem-14891	5	2	,	,	PUNCT
fbem-14891	5	3	this	this	DET
fbem-14891	5	4	project	project	NOUN
fbem-14891	5	5	has	have	VERB
fbem-14891	5	6	important	important	ADJ
fbem-14891	5	7	practical	practical	ADJ
fbem-14891	5	8	significance	significance	NOUN
fbem-14891	5	9	in	in	ADP
fbem-14891	5	10	promoting	promote	VERB
fbem-14891	5	11	the	the	DET
fbem-14891	5	12	establishment	establishment	NOUN
fbem-14891	5	13	of	of	ADP
fbem-14891	5	14	a	a	DET
fbem-14891	5	15	national	national	ADJ
fbem-14891	5	16	carbon	carbon	NOUN
fbem-14891	5	17	market	market	NOUN
fbem-14891	5	18	,	,	PUNCT
fbem-14891	5	19	low	low	ADJ
fbem-14891	5	20	-	-	PUNCT
fbem-14891	5	21	carbon	carbon	NOUN
fbem-14891	5	22	transformation	transformation	NOUN
fbem-14891	5	23	of	of	ADP
fbem-14891	5	24	the	the	DET
fbem-14891	5	25	energy	energy	NOUN
fbem-14891	5	26	system	system	NOUN
fbem-14891	5	27	,	,	PUNCT
fbem-14891	5	28	and	and	CCONJ
fbem-14891	5	29	improving	improve	VERB
fbem-14891	5	30	macro	macro	ADJ
fbem-14891	5	31	risk	risk	NOUN
fbem-14891	5	32	prevention	prevention	NOUN
fbem-14891	5	33	measures	measure	NOUN
fbem-14891	5	34	.	.	PUNCT
fbem-14891	6	1	keywords	keyword	NOUN
fbem-14891	6	2	:	:	PUNCT
fbem-14891	6	3	trade	trade	NOUN
fbem-14891	6	4	transformation	transformation	NOUN
fbem-14891	6	5	russia	russia	PROPN
fbem-14891	6	6	-	-	PUNCT
fbem-14891	6	7	ukraine	ukraine	NOUN
fbem-14891	6	8	.	.	PUNCT
fbem-14891	7	1	1	1	X
fbem-14891	7	2	.	.	X
fbem-14891	7	3	introduction	introduction	NOUN
fbem-14891	7	4	in	in	ADP
fbem-14891	7	5	theory	theory	NOUN
fbem-14891	7	6	,	,	PUNCT
fbem-14891	7	7	policy	policy	NOUN
fbem-14891	7	8	makers	maker	NOUN
fbem-14891	7	9	make	make	VERB
fbem-14891	7	10	"	"	PUNCT
fbem-14891	7	11	carbon	carbon	NOUN
fbem-14891	7	12	emissions	emission	NOUN
fbem-14891	7	13	"	"	PUNCT
fbem-14891	7	14	a	a	DET
fbem-14891	7	15	limited	limited	ADJ
fbem-14891	7	16	right	right	NOUN
fbem-14891	7	17	to	to	PART
fbem-14891	7	18	use	use	VERB
fbem-14891	7	19	environmental	environmental	ADJ
fbem-14891	7	20	resources	resource	NOUN
fbem-14891	7	21	through	through	ADP
fbem-14891	7	22	carbon	carbon	NOUN
fbem-14891	7	23	emissions	emission	NOUN
fbem-14891	7	24	trading	trading	NOUN
fbem-14891	7	25	.	.	PUNCT
fbem-14891	8	1	enterprises	enterprise	NOUN
fbem-14891	8	2	can	can	AUX
fbem-14891	8	3	trade	trade	VERB
fbem-14891	8	4	freely	freely	ADV
fbem-14891	8	5	according	accord	VERB
fbem-14891	8	6	to	to	ADP
fbem-14891	8	7	their	their	PRON
fbem-14891	8	8	own	own	ADJ
fbem-14891	8	9	demand	demand	NOUN
fbem-14891	8	10	for	for	ADP
fbem-14891	8	11	carbon	carbon	NOUN
fbem-14891	8	12	emissions	emission	NOUN
fbem-14891	8	13	quotas	quota	NOUN
fbem-14891	8	14	,	,	PUNCT
fbem-14891	8	15	and	and	CCONJ
fbem-14891	8	16	achieve	achieve	VERB
fbem-14891	8	17	the	the	DET
fbem-14891	8	18	optimal	optimal	ADJ
fbem-14891	8	19	equilibrium	equilibrium	NOUN
fbem-14891	8	20	price	price	NOUN
fbem-14891	8	21	of	of	ADP
fbem-14891	8	22	carbon	carbon	NOUN
fbem-14891	8	23	emissions	emission	NOUN
fbem-14891	8	24	through	through	ADP
fbem-14891	8	25	the	the	DET
fbem-14891	8	26	market	market	NOUN
fbem-14891	8	27	mechanism	mechanism	NOUN
fbem-14891	8	28	,	,	PUNCT
fbem-14891	8	29	so	so	SCONJ
fbem-14891	8	30	as	as	SCONJ
fbem-14891	8	31	to	to	PART
fbem-14891	8	32	reduce	reduce	VERB
fbem-14891	8	33	the	the	DET
fbem-14891	8	34	emission	emission	NOUN
fbem-14891	8	35	of	of	ADP
fbem-14891	8	36	lowtemperature	lowtemperature	PROPN
fbem-14891	8	37	chamber	chamber	PROPN
fbem-14891	8	38	air	air	PROPN
fbem-14891	8	39	.	.	PUNCT
fbem-14891	9	1	in	in	ADP
fbem-14891	9	2	the	the	DET
fbem-14891	9	3	research	research	NOUN
fbem-14891	9	4	on	on	ADP
fbem-14891	9	5	the	the	DET
fbem-14891	9	6	spillover	spillover	NOUN
fbem-14891	9	7	effects	effect	NOUN
fbem-14891	9	8	of	of	ADP
fbem-14891	9	9	volatility	volatility	NOUN
fbem-14891	9	10	between	between	ADP
fbem-14891	9	11	the	the	DET
fbem-14891	9	12	carbon	carbon	NOUN
fbem-14891	9	13	market	market	NOUN
fbem-14891	9	14	and	and	CCONJ
fbem-14891	9	15	other	other	ADJ
fbem-14891	9	16	markets	market	NOUN
fbem-14891	9	17	,	,	PUNCT
fbem-14891	9	18	some	some	DET
fbem-14891	9	19	scholars	scholar	NOUN
fbem-14891	9	20	analyze	analyze	VERB
fbem-14891	9	21	based	base	VERB
fbem-14891	9	22	on	on	ADP
fbem-14891	9	23	the	the	DET
fbem-14891	9	24	garch	garch	NOUN
fbem-14891	9	25	family	family	NOUN
fbem-14891	9	26	model	model	NOUN
fbem-14891	9	27	and	and	CCONJ
fbem-14891	9	28	var	var	PROPN
fbem-14891	9	29	model	model	NOUN
fbem-14891	9	30	based	base	VERB
fbem-14891	9	31	on	on	ADP
fbem-14891	9	32	the	the	DET
fbem-14891	9	33	above	above	ADJ
fbem-14891	9	34	analysis	analysis	NOUN
fbem-14891	9	35	,	,	PUNCT
fbem-14891	9	36	this	this	DET
fbem-14891	9	37	project	project	NOUN
fbem-14891	9	38	first	first	ADV
fbem-14891	9	39	examines	examine	VERB
fbem-14891	9	40	the	the	DET
fbem-14891	9	41	dynamic	dynamic	ADJ
fbem-14891	9	42	interdependence	interdependence	NOUN
fbem-14891	9	43	between	between	ADP
fbem-14891	9	44	china	china	PROPN
fbem-14891	9	45	's	's	PART
fbem-14891	9	46	carbon	carbon	NOUN
fbem-14891	9	47	market	market	NOUN
fbem-14891	9	48	and	and	CCONJ
fbem-14891	9	49	new	new	ADJ
fbem-14891	9	50	energy	energy	NOUN
fbem-14891	9	51	market	market	NOUN
fbem-14891	9	52	using	use	VERB
fbem-14891	9	53	the	the	DET
fbem-14891	9	54	dy	dy	NOUN
fbem-14891	9	55	spillover	spillover	PROPN
fbem-14891	9	56	index	index	NOUN
fbem-14891	9	57	model	model	NOUN
fbem-14891	9	58	.	.	PUNCT
fbem-14891	10	1	secondly	secondly	ADV
fbem-14891	10	2	,	,	PUNCT
fbem-14891	10	3	in	in	ADP
fbem-14891	10	4	order	order	NOUN
fbem-14891	10	5	to	to	PART
fbem-14891	10	6	capture	capture	VERB
fbem-14891	10	7	market	market	NOUN
fbem-14891	10	8	asymmetry	asymmetry	NOUN
fbem-14891	10	9	,	,	PUNCT
fbem-14891	10	10	this	this	DET
fbem-14891	10	11	project	project	NOUN
fbem-14891	10	12	decomposes	decompose	VERB
fbem-14891	10	13	volatility	volatility	NOUN
fbem-14891	10	14	into	into	ADP
fbem-14891	10	15	good	good	ADJ
fbem-14891	10	16	volatility	volatility	NOUN
fbem-14891	10	17	and	and	CCONJ
fbem-14891	10	18	bad	bad	ADJ
fbem-14891	10	19	volatility	volatility	NOUN
fbem-14891	10	20	based	base	VERB
fbem-14891	10	21	on	on	ADP
fbem-14891	10	22	the	the	DET
fbem-14891	10	23	gjr	gjr	NOUN
fbem-14891	10	24	-	-	PUNCT
fbem-14891	10	25	garch	garch	NOUN
fbem-14891	10	26	model	model	NOUN
fbem-14891	10	27	,	,	PUNCT
fbem-14891	10	28	and	and	CCONJ
fbem-14891	10	29	further	far	ADV
fbem-14891	10	30	explores	explore	VERB
fbem-14891	10	31	the	the	DET
fbem-14891	10	32	asymmetric	asymmetric	ADJ
fbem-14891	10	33	spillover	spillover	NOUN
fbem-14891	10	34	effects	effect	NOUN
fbem-14891	10	35	between	between	ADP
fbem-14891	10	36	these	these	DET
fbem-14891	10	37	two	two	NUM
fbem-14891	10	38	types	type	NOUN
fbem-14891	10	39	of	of	ADP
fbem-14891	10	40	markets	market	NOUN
fbem-14891	10	41	.	.	PUNCT
fbem-14891	11	1	finally	finally	ADV
fbem-14891	11	2	,	,	PUNCT
fbem-14891	11	3	using	use	VERB
fbem-14891	11	4	the	the	DET
fbem-14891	11	5	method	method	NOUN
fbem-14891	11	6	of	of	ADP
fbem-14891	11	7	marginal	marginal	ADJ
fbem-14891	11	8	net	net	ADJ
fbem-14891	11	9	spillover	spillover	NOUN
fbem-14891	11	10	index	index	NOUN
fbem-14891	11	11	(	(	PUNCT
fbem-14891	11	12	mns	mns	PROPN
fbem-14891	11	13	)	)	PUNCT
fbem-14891	11	14	,	,	PUNCT
fbem-14891	11	15	this	this	DET
fbem-14891	11	16	paper	paper	NOUN
fbem-14891	11	17	explores	explore	VERB
fbem-14891	11	18	the	the	DET
fbem-14891	11	19	main	main	ADJ
fbem-14891	11	20	sources	source	NOUN
fbem-14891	11	21	and	and	CCONJ
fbem-14891	11	22	paths	path	NOUN
fbem-14891	11	23	of	of	ADP
fbem-14891	11	24	risk	risk	NOUN
fbem-14891	11	25	transmission	transmission	NOUN
fbem-14891	11	26	between	between	ADP
fbem-14891	11	27	china	china	PROPN
fbem-14891	11	28	's	's	PART
fbem-14891	11	29	carbon	carbon	NOUN
fbem-14891	11	30	market	market	NOUN
fbem-14891	11	31	and	and	CCONJ
fbem-14891	11	32	new	new	ADJ
fbem-14891	11	33	energy	energy	NOUN
fbem-14891	11	34	market	market	NOUN
fbem-14891	11	35	under	under	ADP
fbem-14891	11	36	the	the	DET
fbem-14891	11	37	impact	impact	NOUN
fbem-14891	11	38	of	of	ADP
fbem-14891	11	39	major	major	ADJ
fbem-14891	11	40	events	event	NOUN
fbem-14891	11	41	such	such	ADJ
fbem-14891	11	42	as	as	ADP
fbem-14891	11	43	the	the	DET
fbem-14891	11	44	china	china	PROPN
fbem-14891	11	45	–	–	PUNCT
fbem-14891	11	46	united	united	PROPN
fbem-14891	11	47	states	states	PROPN
fbem-14891	11	48	trade	trade	PROPN
fbem-14891	11	49	war	war	PROPN
fbem-14891	11	50	,	,	PUNCT
fbem-14891	11	51	the	the	DET
fbem-14891	11	52	covid-19	covid-19	PROPN
fbem-14891	11	53	and	and	CCONJ
fbem-14891	11	54	the	the	DET
fbem-14891	11	55	russiaukraine	russiaukraine	ADJ
fbem-14891	11	56	conflict	conflict	NOUN
fbem-14891	11	57	.	.	PUNCT
fbem-14891	12	1	2	2	X
fbem-14891	12	2	.	.	X
fbem-14891	12	3	organization	organization	NOUN
fbem-14891	12	4	of	of	ADP
fbem-14891	12	5	the	the	DET
fbem-14891	12	6	text	text	NOUN
fbem-14891	12	7	2.1	2.1	NUM
fbem-14891	12	8	.	.	PUNCT
fbem-14891	13	1	realistic	realistic	ADJ
fbem-14891	13	2	meaning	mean	VERB
fbem-14891	13	3	china	china	PROPN
fbem-14891	13	4	's	's	PART
fbem-14891	13	5	carbon	carbon	NOUN
fbem-14891	13	6	market	market	NOUN
fbem-14891	13	7	and	and	CCONJ
fbem-14891	13	8	new	new	ADJ
fbem-14891	13	9	energy	energy	NOUN
fbem-14891	13	10	market	market	NOUN
fbem-14891	13	11	,	,	PUNCT
fbem-14891	13	12	as	as	ADP
fbem-14891	13	13	important	important	ADJ
fbem-14891	13	14	emerging	emerge	VERB
fbem-14891	13	15	markets	market	NOUN
fbem-14891	13	16	and	and	CCONJ
fbem-14891	13	17	traditional	traditional	ADJ
fbem-14891	13	18	financial	financial	ADJ
fbem-14891	13	19	markets	market	NOUN
fbem-14891	13	20	in	in	ADP
fbem-14891	13	21	china	china	PROPN
fbem-14891	13	22	,	,	PUNCT
fbem-14891	13	23	explore	explore	VERB
fbem-14891	13	24	the	the	DET
fbem-14891	13	25	volatility	volatility	NOUN
fbem-14891	13	26	spillover	spillover	VERB
fbem-14891	13	27	effects	effect	NOUN
fbem-14891	13	28	between	between	ADP
fbem-14891	13	29	these	these	DET
fbem-14891	13	30	two	two	NUM
fbem-14891	13	31	types	type	NOUN
fbem-14891	13	32	of	of	ADP
fbem-14891	13	33	markets	market	NOUN
fbem-14891	13	34	,	,	PUNCT
fbem-14891	13	35	reveal	reveal	VERB
fbem-14891	13	36	their	their	PRON
fbem-14891	13	37	internal	internal	ADJ
fbem-14891	13	38	mechanisms	mechanism	NOUN
fbem-14891	13	39	and	and	CCONJ
fbem-14891	13	40	laws	law	NOUN
fbem-14891	13	41	,	,	PUNCT
fbem-14891	13	42	which	which	PRON
fbem-14891	13	43	is	be	AUX
fbem-14891	13	44	of	of	ADP
fbem-14891	13	45	great	great	ADJ
fbem-14891	13	46	significance	significance	NOUN
fbem-14891	13	47	for	for	ADP
fbem-14891	13	48	effectively	effectively	ADV
fbem-14891	13	49	preventing	prevent	VERB
fbem-14891	13	50	carbon	carbon	NOUN
fbem-14891	13	51	financial	financial	ADJ
fbem-14891	13	52	risks	risk	NOUN
fbem-14891	13	53	,	,	PUNCT
fbem-14891	13	54	promoting	promote	VERB
fbem-14891	13	55	the	the	DET
fbem-14891	13	56	healthy	healthy	ADJ
fbem-14891	13	57	and	and	CCONJ
fbem-14891	13	58	stable	stable	ADJ
fbem-14891	13	59	operation	operation	NOUN
fbem-14891	13	60	of	of	ADP
fbem-14891	13	61	the	the	DET
fbem-14891	13	62	carbon	carbon	NOUN
fbem-14891	13	63	market	market	NOUN
fbem-14891	13	64	,	,	PUNCT
fbem-14891	13	65	and	and	CCONJ
fbem-14891	13	66	promoting	promote	VERB
fbem-14891	13	67	the	the	DET
fbem-14891	13	68	achievement	achievement	NOUN
fbem-14891	13	69	of	of	ADP
fbem-14891	13	70	the	the	DET
fbem-14891	13	71	national	national	ADJ
fbem-14891	13	72	"	"	PUNCT
fbem-14891	13	73	dual	dual	ADJ
fbem-14891	13	74	carbon	carbon	NOUN
fbem-14891	13	75	"	"	PUNCT
fbem-14891	13	76	goal	goal	NOUN
fbem-14891	13	77	.	.	PUNCT
fbem-14891	14	1	paper.furthermore	paper.furthermore	NOUN
fbem-14891	14	2	,	,	PUNCT
fbem-14891	14	3	in	in	ADP
fbem-14891	14	4	recent	recent	ADJ
fbem-14891	14	5	years	year	NOUN
fbem-14891	14	6	,	,	PUNCT
fbem-14891	14	7	major	major	ADJ
fbem-14891	14	8	emergencies	emergency	NOUN
fbem-14891	14	9	have	have	AUX
fbem-14891	14	10	erupted	erupt	VERB
fbem-14891	14	11	in	in	ADP
fbem-14891	14	12	various	various	ADJ
fbem-14891	14	13	countries	country	NOUN
fbem-14891	14	14	around	around	ADP
fbem-14891	14	15	the	the	DET
fbem-14891	14	16	world	world	NOUN
fbem-14891	14	17	,	,	PUNCT
fbem-14891	14	18	which	which	PRON
fbem-14891	14	19	not	not	PART
fbem-14891	14	20	only	only	ADV
fbem-14891	14	21	threaten	threaten	VERB
fbem-14891	14	22	the	the	DET
fbem-14891	14	23	social	social	ADJ
fbem-14891	14	24	stability	stability	NOUN
fbem-14891	14	25	of	of	ADP
fbem-14891	14	26	countries	country	NOUN
fbem-14891	14	27	around	around	ADP
fbem-14891	14	28	the	the	DET
fbem-14891	14	29	world	world	NOUN
fbem-14891	14	30	,	,	PUNCT
fbem-14891	14	31	but	but	CCONJ
fbem-14891	14	32	also	also	ADV
fbem-14891	14	33	bring	bring	VERB
fbem-14891	14	34	huge	huge	ADJ
fbem-14891	14	35	challenges	challenge	NOUN
fbem-14891	14	36	to	to	ADP
fbem-14891	14	37	the	the	DET
fbem-14891	14	38	development	development	NOUN
fbem-14891	14	39	of	of	ADP
fbem-14891	14	40	china	china	PROPN
fbem-14891	14	41	's	's	PART
fbem-14891	14	42	economy	economy	NOUN
fbem-14891	14	43	and	and	CCONJ
fbem-14891	14	44	market	market	NOUN
fbem-14891	14	45	stability	stability	NOUN
fbem-14891	14	46	.	.	PUNCT
fbem-14891	15	1	therefore	therefore	ADV
fbem-14891	15	2	,	,	PUNCT
fbem-14891	15	3	the	the	DET
fbem-14891	15	4	project	project	NOUN
fbem-14891	15	5	further	far	ADV
fbem-14891	15	6	explores	explore	VERB
fbem-14891	15	7	the	the	DET
fbem-14891	15	8	volatility	volatility	NOUN
fbem-14891	15	9	spillover	spillover	VERB
fbem-14891	15	10	effect	effect	NOUN
fbem-14891	15	11	of	of	ADP
fbem-14891	15	12	china	china	PROPN
fbem-14891	15	13	's	's	PART
fbem-14891	15	14	carbon	carbon	NOUN
fbem-14891	15	15	market	market	NOUN
fbem-14891	15	16	and	and	CCONJ
fbem-14891	15	17	new	new	ADJ
fbem-14891	15	18	energy	energy	NOUN
fbem-14891	15	19	market	market	NOUN
fbem-14891	15	20	under	under	ADP
fbem-14891	15	21	the	the	DET
fbem-14891	15	22	impact	impact	NOUN
fbem-14891	15	23	of	of	ADP
fbem-14891	15	24	major	major	ADJ
fbem-14891	15	25	events	event	NOUN
fbem-14891	15	26	such	such	ADJ
fbem-14891	15	27	as	as	ADP
fbem-14891	15	28	the	the	DET
fbem-14891	15	29	china	china	PROPN
fbem-14891	15	30	–	–	PUNCT
fbem-14891	15	31	united	united	PROPN
fbem-14891	15	32	states	states	PROPN
fbem-14891	15	33	trade	trade	PROPN
fbem-14891	15	34	war	war	PROPN
fbem-14891	15	35	,	,	PUNCT
fbem-14891	15	36	the	the	DET
fbem-14891	15	37	covid-19	covid-19	PROPN
fbem-14891	15	38	and	and	CCONJ
fbem-14891	15	39	the	the	DET
fbem-14891	15	40	russia	russia	PROPN
fbem-14891	15	41	-	-	PUNCT
fbem-14891	15	42	ukraine	ukraine	PROPN
fbem-14891	15	43	conflict	conflict	NOUN
fbem-14891	15	44	,	,	PUNCT
fbem-14891	15	45	which	which	PRON
fbem-14891	15	46	has	have	VERB
fbem-14891	15	47	important	important	ADJ
fbem-14891	15	48	practical	practical	ADJ
fbem-14891	15	49	significance	significance	NOUN
fbem-14891	15	50	for	for	ADP
fbem-14891	15	51	the	the	DET
fbem-14891	15	52	stable	stable	ADJ
fbem-14891	15	53	development	development	NOUN
fbem-14891	15	54	of	of	ADP
fbem-14891	15	55	china	china	PROPN
fbem-14891	15	56	's	's	PART
fbem-14891	15	57	market	market	NOUN
fbem-14891	15	58	and	and	CCONJ
fbem-14891	15	59	economy	economy	NOUN
fbem-14891	15	60	,	,	PUNCT
fbem-14891	15	61	avoiding	avoid	VERB
fbem-14891	15	62	systematic	systematic	ADJ
fbem-14891	15	63	risk	risk	NOUN
fbem-14891	15	64	between	between	ADP
fbem-14891	15	65	markets	market	NOUN
fbem-14891	15	66	,	,	PUNCT
fbem-14891	15	67	and	and	CCONJ
fbem-14891	15	68	promoting	promote	VERB
fbem-14891	15	69	low	low	ADJ
fbem-14891	15	70	-	-	PUNCT
fbem-14891	15	71	carbon	carbon	NOUN
fbem-14891	15	72	transformation	transformation	NOUN
fbem-14891	15	73	of	of	ADP
fbem-14891	15	74	the	the	DET
fbem-14891	15	75	energy	energy	NOUN
fbem-14891	15	76	industry	industry	NOUN
fbem-14891	15	77	.	.	PUNCT
fbem-14891	16	1	2.2	2.2	NUM
fbem-14891	16	2	.	.	PUNCT
fbem-14891	16	3	theoretical	theoretical	ADJ
fbem-14891	16	4	significance	significance	NOUN
fbem-14891	16	5	this	this	DET
fbem-14891	16	6	project	project	NOUN
fbem-14891	16	7	first	first	ADV
fbem-14891	16	8	examines	examine	VERB
fbem-14891	16	9	the	the	DET
fbem-14891	16	10	dynamic	dynamic	ADJ
fbem-14891	16	11	interdependence	interdependence	NOUN
fbem-14891	16	12	between	between	ADP
fbem-14891	16	13	china	china	PROPN
fbem-14891	16	14	's	's	PART
fbem-14891	16	15	carbon	carbon	NOUN
fbem-14891	16	16	market	market	NOUN
fbem-14891	16	17	and	and	CCONJ
fbem-14891	16	18	new	new	ADJ
fbem-14891	16	19	energy	energy	NOUN
fbem-14891	16	20	market	market	NOUN
fbem-14891	16	21	based	base	VERB
fbem-14891	16	22	on	on	ADP
fbem-14891	16	23	the	the	DET
fbem-14891	16	24	dy	dy	NOUN
fbem-14891	16	25	spillover	spillover	PROPN
fbem-14891	16	26	index	index	NOUN
fbem-14891	16	27	model	model	NOUN
fbem-14891	16	28	.	.	PUNCT
fbem-14891	17	1	on	on	ADP
fbem-14891	17	2	this	this	DET
fbem-14891	17	3	basis	basis	NOUN
fbem-14891	17	4	,	,	PUNCT
fbem-14891	17	5	on	on	ADP
fbem-14891	17	6	the	the	DET
fbem-14891	17	7	one	one	NUM
fbem-14891	17	8	hand	hand	NOUN
fbem-14891	17	9	,	,	PUNCT
fbem-14891	17	10	the	the	DET
fbem-14891	17	11	total	total	ADJ
fbem-14891	17	12	volatility	volatility	NOUN
fbem-14891	17	13	of	of	ADP
fbem-14891	17	14	returns	return	NOUN
fbem-14891	17	15	is	be	AUX
fbem-14891	17	16	divided	divide	VERB
fbem-14891	17	17	into	into	ADP
fbem-14891	17	18	good	good	ADJ
fbem-14891	17	19	volatility	volatility	NOUN
fbem-14891	17	20	and	and	CCONJ
fbem-14891	17	21	bad	bad	ADJ
fbem-14891	17	22	volatility	volatility	NOUN
fbem-14891	17	23	to	to	PART
fbem-14891	17	24	capture	capture	VERB
fbem-14891	17	25	market	market	NOUN
fbem-14891	17	26	leverage	leverage	NOUN
fbem-14891	17	27	effects	effect	NOUN
fbem-14891	17	28	,	,	PUNCT
fbem-14891	17	29	further	far	ADV
fbem-14891	17	30	exploring	explore	VERB
fbem-14891	17	31	the	the	DET
fbem-14891	17	32	asymmetric	asymmetric	ADJ
fbem-14891	17	33	spillover	spillover	NOUN
fbem-14891	17	34	effects	effect	NOUN
fbem-14891	17	35	of	of	ADP
fbem-14891	17	36	china	china	PROPN
fbem-14891	17	37	's	's	PART
fbem-14891	17	38	carbon	carbon	NOUN
fbem-14891	17	39	and	and	CCONJ
fbem-14891	17	40	new	new	ADJ
fbem-14891	17	41	energy	energy	NOUN
fbem-14891	17	42	markets	market	NOUN
fbem-14891	17	43	;	;	PUNCT
fbem-14891	17	44	on	on	ADP
fbem-14891	17	45	the	the	DET
fbem-14891	17	46	other	other	ADJ
fbem-14891	17	47	hand	hand	NOUN
fbem-14891	17	48	,	,	PUNCT
fbem-14891	17	49	by	by	ADP
fbem-14891	17	50	calculating	calculate	VERB
fbem-14891	17	51	the	the	DET
fbem-14891	17	52	marginal	marginal	ADJ
fbem-14891	17	53	net	net	ADJ
fbem-14891	17	54	spillover	spillover	NOUN
fbem-14891	17	55	index	index	NOUN
fbem-14891	17	56	(	(	PUNCT
fbem-14891	17	57	mns	mns	PROPN
fbem-14891	17	58	)	)	PUNCT
fbem-14891	17	59	among	among	ADP
fbem-14891	17	60	the	the	DET
fbem-14891	17	61	markets	market	NOUN
fbem-14891	17	62	,	,	PUNCT
fbem-14891	17	63	it	it	PRON
fbem-14891	17	64	explores	explore	VERB
fbem-14891	17	65	the	the	DET
fbem-14891	17	66	main	main	ADJ
fbem-14891	17	67	sources	source	NOUN
fbem-14891	17	68	and	and	CCONJ
fbem-14891	17	69	transmission	transmission	NOUN
fbem-14891	17	70	paths	path	NOUN
fbem-14891	17	71	of	of	ADP
fbem-14891	17	72	risks	risk	NOUN
fbem-14891	17	73	between	between	ADP
fbem-14891	17	74	china	china	PROPN
fbem-14891	17	75	's	's	PART
fbem-14891	17	76	carbon	carbon	NOUN
fbem-14891	17	77	market	market	NOUN
fbem-14891	17	78	and	and	CCONJ
fbem-14891	17	79	the	the	DET
fbem-14891	17	80	new	new	ADJ
fbem-14891	17	81	energy	energy	NOUN
fbem-14891	17	82	market	market	NOUN
fbem-14891	17	83	under	under	ADP
fbem-14891	17	84	the	the	DET
fbem-14891	17	85	impact	impact	NOUN
fbem-14891	17	86	of	of	ADP
fbem-14891	17	87	major	major	ADJ
fbem-14891	17	88	events	event	NOUN
fbem-14891	17	89	such	such	ADJ
fbem-14891	17	90	as	as	ADP
fbem-14891	17	91	the	the	DET
fbem-14891	17	92	china	china	PROPN
fbem-14891	17	93	–	–	PUNCT
fbem-14891	17	94	united	united	PROPN
fbem-14891	17	95	states	states	PROPN
fbem-14891	17	96	trade	trade	PROPN
fbem-14891	17	97	war	war	PROPN
fbem-14891	17	98	,	,	PUNCT
fbem-14891	17	99	the	the	DET
fbem-14891	17	100	covid-19	covid-19	PROPN
fbem-14891	17	101	and	and	CCONJ
fbem-14891	17	102	the	the	DET
fbem-14891	17	103	russiaukraine	russiaukraine	ADJ
fbem-14891	17	104	conflict	conflict	NOUN
fbem-14891	17	105	,	,	PUNCT
fbem-14891	17	106	which	which	PRON
fbem-14891	17	107	has	have	VERB
fbem-14891	17	108	important	important	ADJ
fbem-14891	17	109	theoretical	theoretical	ADJ
fbem-14891	17	110	significance	significance	NOUN
fbem-14891	17	111	for	for	ADP
fbem-14891	17	112	improving	improve	VERB
fbem-14891	17	113	the	the	DET
fbem-14891	17	114	macro	macro	ADJ
fbem-14891	17	115	response	response	NOUN
fbem-14891	17	116	governance	governance	NOUN
fbem-14891	17	117	mechanism	mechanism	NOUN
fbem-14891	17	118	and	and	CCONJ
fbem-14891	17	119	preventing	prevent	VERB
fbem-14891	17	120	risk	risk	NOUN
fbem-14891	17	121	transmission	transmission	NOUN
fbem-14891	17	122	between	between	ADP
fbem-14891	17	123	markets	market	NOUN
fbem-14891	17	124	.	.	PUNCT
fbem-14891	18	1	3	3	X
fbem-14891	18	2	.	.	X
fbem-14891	18	3	research	research	NOUN
fbem-14891	18	4	status	status	NOUN
fbem-14891	18	5	and	and	CCONJ
fbem-14891	18	6	development	development	NOUN
fbem-14891	18	7	trends	trend	NOUN
fbem-14891	18	8	at	at	ADP
fbem-14891	18	9	home	home	NOUN
fbem-14891	18	10	and	and	CCONJ
fbem-14891	18	11	abroad	abroad	ADV
fbem-14891	18	12	as	as	ADP
fbem-14891	18	13	an	an	DET
fbem-14891	18	14	important	important	ADJ
fbem-14891	18	15	emerging	emerge	VERB
fbem-14891	18	16	market	market	NOUN
fbem-14891	18	17	in	in	ADP
fbem-14891	18	18	china	china	PROPN
fbem-14891	18	19	,	,	PUNCT
fbem-14891	18	20	the	the	DET
fbem-14891	18	21	frequent	frequent	ADJ
fbem-14891	18	22	fluctuations	fluctuation	NOUN
fbem-14891	18	23	of	of	ADP
fbem-14891	18	24	carbon	carbon	NOUN
fbem-14891	18	25	emission	emission	NOUN
fbem-14891	18	26	trading	trading	NOUN
fbem-14891	18	27	prices	price	NOUN
fbem-14891	18	28	have	have	AUX
fbem-14891	18	29	made	make	VERB
fbem-14891	18	30	china	china	PROPN
fbem-14891	18	31	constantly	constantly	ADV
fbem-14891	18	32	strive	strive	VERB
fbem-14891	18	33	to	to	PART
fbem-14891	18	34	establish	establish	VERB
fbem-14891	18	35	and	and	CCONJ
fbem-14891	18	36	improve	improve	VERB
fbem-14891	18	37	its	its	PRON
fbem-14891	18	38	own	own	ADJ
fbem-14891	18	39	carbon	carbon	NOUN
fbem-14891	18	40	market	market	NOUN
fbem-14891	18	41	.	.	PUNCT
fbem-14891	19	1	in	in	ADP
fbem-14891	19	2	particular	particular	ADJ
fbem-14891	19	3	,	,	PUNCT
fbem-14891	19	4	the	the	DET
fbem-14891	19	5	in	in	ADP
fbem-14891	19	6	-	-	PUNCT
fbem-14891	19	7	depth	depth	NOUN
fbem-14891	19	8	promotion	promotion	NOUN
fbem-14891	19	9	of	of	ADP
fbem-14891	19	10	the	the	DET
fbem-14891	19	11	252	252	NUM
fbem-14891	19	12	"	"	PUNCT
fbem-14891	19	13	dual	dual	ADJ
fbem-14891	19	14	carbon	carbon	NOUN
fbem-14891	19	15	"	"	PUNCT
fbem-14891	19	16	target	target	NOUN
fbem-14891	19	17	task	task	NOUN
fbem-14891	19	18	in	in	ADP
fbem-14891	19	19	people	people	NOUN
fbem-14891	19	20	's	's	PART
fbem-14891	19	21	economic	economic	ADJ
fbem-14891	19	22	life	life	NOUN
fbem-14891	19	23	and	and	CCONJ
fbem-14891	19	24	the	the	DET
fbem-14891	19	25	gradual	gradual	ADJ
fbem-14891	19	26	improvement	improvement	NOUN
fbem-14891	19	27	of	of	ADP
fbem-14891	19	28	the	the	DET
fbem-14891	19	29	carbon	carbon	NOUN
fbem-14891	19	30	emissions	emission	NOUN
fbem-14891	19	31	trading	trading	NOUN
fbem-14891	19	32	mechanism	mechanism	NOUN
fbem-14891	19	33	provide	provide	VERB
fbem-14891	19	34	new	new	ADJ
fbem-14891	19	35	financing	financing	NOUN
fbem-14891	19	36	channels	channel	NOUN
fbem-14891	19	37	for	for	ADP
fbem-14891	19	38	new	new	ADJ
fbem-14891	19	39	energy	energy	NOUN
fbem-14891	19	40	enterprises	enterprise	NOUN
fbem-14891	19	41	,	,	PUNCT
fbem-14891	19	42	promote	promote	VERB
fbem-14891	19	43	the	the	DET
fbem-14891	19	44	development	development	NOUN
fbem-14891	19	45	of	of	ADP
fbem-14891	19	46	new	new	ADJ
fbem-14891	19	47	energy	energy	NOUN
fbem-14891	19	48	industry	industry	NOUN
fbem-14891	19	49	,	,	PUNCT
fbem-14891	19	50	and	and	CCONJ
fbem-14891	19	51	then	then	ADV
fbem-14891	19	52	drive	drive	VERB
fbem-14891	19	53	the	the	DET
fbem-14891	19	54	low	low	ADJ
fbem-14891	19	55	-	-	PUNCT
fbem-14891	19	56	carbon	carbon	NOUN
fbem-14891	19	57	transformation	transformation	NOUN
fbem-14891	19	58	of	of	ADP
fbem-14891	19	59	the	the	DET
fbem-14891	19	60	whole	whole	ADJ
fbem-14891	19	61	society	society	NOUN
fbem-14891	19	62	(	(	PUNCT
fbem-14891	19	63	lin	lin	PROPN
fbem-14891	19	64	boqiang	boqiang	PROPN
fbem-14891	19	65	,	,	PUNCT
fbem-14891	19	66	2021	2021	NUM
fbem-14891	19	67	)	)	PUNCT
fbem-14891	19	68	.	.	PUNCT
fbem-14891	20	1	due	due	ADP
fbem-14891	20	2	to	to	ADP
fbem-14891	20	3	the	the	DET
fbem-14891	20	4	fact	fact	NOUN
fbem-14891	20	5	that	that	SCONJ
fbem-14891	20	6	carbon	carbon	NOUN
fbem-14891	20	7	prices	price	NOUN
fbem-14891	20	8	are	be	AUX
fbem-14891	20	9	not	not	PART
fbem-14891	20	10	only	only	ADV
fbem-14891	20	11	influenced	influence	VERB
fbem-14891	20	12	by	by	ADP
fbem-14891	20	13	their	their	PRON
fbem-14891	20	14	own	own	ADJ
fbem-14891	20	15	supply	supply	NOUN
fbem-14891	20	16	and	and	CCONJ
fbem-14891	20	17	demand	demand	NOUN
fbem-14891	20	18	mechanisms	mechanism	NOUN
fbem-14891	20	19	,	,	PUNCT
fbem-14891	20	20	but	but	CCONJ
fbem-14891	20	21	also	also	ADV
fbem-14891	20	22	by	by	ADP
fbem-14891	20	23	various	various	ADJ
fbem-14891	20	24	factors	factor	NOUN
fbem-14891	20	25	such	such	ADJ
fbem-14891	20	26	as	as	ADP
fbem-14891	20	27	policies	policy	NOUN
fbem-14891	20	28	and	and	CCONJ
fbem-14891	20	29	extreme	extreme	ADJ
fbem-14891	20	30	weather	weather	NOUN
fbem-14891	20	31	(	(	PUNCT
fbem-14891	20	32	wang	wang	PROPN
fbem-14891	20	33	bo	bo	PROPN
fbem-14891	20	34	and	and	CCONJ
fbem-14891	20	35	xu	xu	PROPN
fbem-14891	20	36	piaoyang	piaoyang	PROPN
fbem-14891	20	37	,	,	PUNCT
fbem-14891	20	38	2022	2022	NUM
fbem-14891	20	39	)	)	PUNCT
fbem-14891	20	40	.	.	PUNCT
fbem-14891	21	1	therefore	therefore	ADV
fbem-14891	21	2	,	,	PUNCT
fbem-14891	21	3	the	the	DET
fbem-14891	21	4	improvement	improvement	NOUN
fbem-14891	21	5	of	of	ADP
fbem-14891	21	6	carbon	carbon	NOUN
fbem-14891	21	7	gold	gold	NOUN
fbem-14891	21	8	melting	melting	NOUN
fbem-14891	21	9	has	have	AUX
fbem-14891	21	10	enhanced	enhance	VERB
fbem-14891	21	11	the	the	DET
fbem-14891	21	12	spillover	spillover	ADJ
fbem-14891	21	13	effect	effect	NOUN
fbem-14891	21	14	between	between	ADP
fbem-14891	21	15	the	the	DET
fbem-14891	21	16	carbon	carbon	NOUN
fbem-14891	21	17	market	market	NOUN
fbem-14891	21	18	and	and	CCONJ
fbem-14891	21	19	the	the	DET
fbem-14891	21	20	new	new	ADJ
fbem-14891	21	21	energy	energy	NOUN
fbem-14891	21	22	market	market	NOUN
fbem-14891	21	23	,	,	PUNCT
fbem-14891	21	24	which	which	PRON
fbem-14891	21	25	means	mean	VERB
fbem-14891	21	26	that	that	SCONJ
fbem-14891	21	27	there	there	PRON
fbem-14891	21	28	will	will	AUX
fbem-14891	21	29	be	be	AUX
fbem-14891	21	30	a	a	DET
fbem-14891	21	31	higher	high	ADJ
fbem-14891	21	32	systematic	systematic	ADJ
fbem-14891	21	33	risk	risk	NOUN
fbem-14891	21	34	between	between	ADP
fbem-14891	21	35	the	the	DET
fbem-14891	21	36	markets	market	NOUN
fbem-14891	21	37	.	.	PUNCT
fbem-14891	22	1	therefore	therefore	ADV
fbem-14891	22	2	,	,	PUNCT
fbem-14891	22	3	exploring	explore	VERB
fbem-14891	22	4	the	the	DET
fbem-14891	22	5	dynamic	dynamic	ADJ
fbem-14891	22	6	correlation	correlation	NOUN
fbem-14891	22	7	of	of	ADP
fbem-14891	22	8	the	the	DET
fbem-14891	22	9	financial	financial	ADJ
fbem-14891	22	10	system	system	NOUN
fbem-14891	22	11	(	(	PUNCT
fbem-14891	22	12	china	china	PROPN
fbem-14891	22	13	's	's	PART
fbem-14891	22	14	carbon	carbon	NOUN
fbem-14891	22	15	market	market	NOUN
fbem-14891	22	16	and	and	CCONJ
fbem-14891	22	17	new	new	ADJ
fbem-14891	22	18	energy	energy	NOUN
fbem-14891	22	19	market	market	NOUN
fbem-14891	22	20	)	)	PUNCT
fbem-14891	22	21	with	with	ADP
fbem-14891	22	22	carbon	carbon	NOUN
fbem-14891	22	23	market	market	NOUN
fbem-14891	22	24	transactions	transaction	NOUN
fbem-14891	22	25	as	as	SCONJ
fbem-14891	22	26	the	the	DET
fbem-14891	22	27	core	core	NOUN
fbem-14891	22	28	will	will	AUX
fbem-14891	22	29	help	help	VERB
fbem-14891	22	30	promote	promote	VERB
fbem-14891	22	31	the	the	DET
fbem-14891	22	32	establishment	establishment	NOUN
fbem-14891	22	33	of	of	ADP
fbem-14891	22	34	the	the	DET
fbem-14891	22	35	national	national	ADJ
fbem-14891	22	36	carbon	carbon	NOUN
fbem-14891	22	37	market	market	NOUN
fbem-14891	22	38	,	,	PUNCT
fbem-14891	22	39	the	the	DET
fbem-14891	22	40	transformation	transformation	NOUN
fbem-14891	22	41	of	of	ADP
fbem-14891	22	42	the	the	DET
fbem-14891	22	43	energy	energy	NOUN
fbem-14891	22	44	system	system	NOUN
fbem-14891	22	45	and	and	CCONJ
fbem-14891	22	46	prevent	prevent	VERB
fbem-14891	22	47	systematic	systematic	ADJ
fbem-14891	22	48	risk	risk	NOUN
fbem-14891	22	49	between	between	ADP
fbem-14891	22	50	markets	market	NOUN
fbem-14891	22	51	.	.	PUNCT
fbem-14891	23	1	3.1	3.1	NUM
fbem-14891	23	2	.	.	PUNCT
fbem-14891	23	3	research	research	NOUN
fbem-14891	23	4	on	on	ADP
fbem-14891	23	5	dynamic	dynamic	ADJ
fbem-14891	23	6	correlation	correlation	NOUN
fbem-14891	23	7	between	between	ADP
fbem-14891	23	8	markets	market	NOUN
fbem-14891	23	9	the	the	DET
fbem-14891	23	10	dynamic	dynamic	ADJ
fbem-14891	23	11	correlation	correlation	NOUN
fbem-14891	23	12	between	between	ADP
fbem-14891	23	13	the	the	DET
fbem-14891	23	14	carbon	carbon	NOUN
fbem-14891	23	15	market	market	NOUN
fbem-14891	23	16	and	and	CCONJ
fbem-14891	23	17	other	other	ADJ
fbem-14891	23	18	markets	market	NOUN
fbem-14891	23	19	has	have	AUX
fbem-14891	23	20	been	be	AUX
fbem-14891	23	21	one	one	NUM
fbem-14891	23	22	of	of	ADP
fbem-14891	23	23	the	the	DET
fbem-14891	23	24	important	important	ADJ
fbem-14891	23	25	and	and	CCONJ
fbem-14891	23	26	hot	hot	ADJ
fbem-14891	23	27	topics	topic	NOUN
fbem-14891	23	28	in	in	ADP
fbem-14891	23	29	recent	recent	ADJ
fbem-14891	23	30	years	year	NOUN
fbem-14891	23	31	,	,	PUNCT
fbem-14891	23	32	and	and	CCONJ
fbem-14891	23	33	the	the	DET
fbem-14891	23	34	academic	academic	ADJ
fbem-14891	23	35	community	community	NOUN
fbem-14891	23	36	has	have	AUX
fbem-14891	23	37	also	also	ADV
fbem-14891	23	38	conducted	conduct	VERB
fbem-14891	23	39	extensive	extensive	ADJ
fbem-14891	23	40	and	and	CCONJ
fbem-14891	23	41	in	in	ADP
fbem-14891	23	42	-	-	PUNCT
fbem-14891	23	43	depth	depth	NOUN
fbem-14891	23	44	research	research	NOUN
fbem-14891	23	45	on	on	ADP
fbem-14891	23	46	this	this	DET
fbem-14891	23	47	topic	topic	NOUN
fbem-14891	23	48	.	.	PUNCT
fbem-14891	24	1	among	among	ADP
fbem-14891	24	2	them	they	PRON
fbem-14891	24	3	,	,	PUNCT
fbem-14891	24	4	domestic	domestic	ADJ
fbem-14891	24	5	and	and	CCONJ
fbem-14891	24	6	foreign	foreign	ADJ
fbem-14891	24	7	scholars	scholar	NOUN
fbem-14891	24	8	generally	generally	ADV
fbem-14891	24	9	focus	focus	VERB
fbem-14891	24	10	on	on	ADP
fbem-14891	24	11	analyzing	analyze	VERB
fbem-14891	24	12	the	the	DET
fbem-14891	24	13	carbon	carbon	NOUN
fbem-14891	24	14	market	market	NOUN
fbem-14891	24	15	and	and	CCONJ
fbem-14891	24	16	traditional	traditional	ADJ
fbem-14891	24	17	energy	energy	NOUN
fbem-14891	24	18	market	market	NOUN
fbem-14891	24	19	(	(	PUNCT
fbem-14891	24	20	carbon	carbon	NOUN
fbem-14891	24	21	energy	energy	NOUN
fbem-14891	24	22	)	)	PUNCT
fbem-14891	24	23	(	(	PUNCT
fbem-14891	24	24	zhao	zhao	NOUN
fbem-14891	24	25	tianyu	tianyu	PROPN
fbem-14891	24	26	,	,	PUNCT
fbem-14891	24	27	2022	2022	NUM
fbem-14891	24	28	)	)	PUNCT
fbem-14891	24	29	.	.	PUNCT
fbem-14891	25	1	scholars	scholar	NOUN
fbem-14891	25	2	have	have	AUX
fbem-14891	25	3	confirmed	confirm	VERB
fbem-14891	25	4	that	that	SCONJ
fbem-14891	25	5	the	the	DET
fbem-14891	25	6	carbon	carbon	NOUN
fbem-14891	25	7	market	market	NOUN
fbem-14891	25	8	is	be	AUX
fbem-14891	25	9	closely	closely	ADV
fbem-14891	25	10	related	relate	VERB
fbem-14891	25	11	to	to	ADP
fbem-14891	25	12	both	both	CCONJ
fbem-14891	25	13	the	the	DET
fbem-14891	25	14	natural	natural	ADJ
fbem-14891	25	15	gas	gas	NOUN
fbem-14891	25	16	market	market	NOUN
fbem-14891	25	17	and	and	CCONJ
fbem-14891	25	18	the	the	DET
fbem-14891	25	19	crude	crude	ADJ
fbem-14891	25	20	oil	oil	NOUN
fbem-14891	25	21	market	market	NOUN
fbem-14891	25	22	(	(	PUNCT
fbem-14891	25	23	wang	wang	PROPN
fbem-14891	25	24	and	and	CCONJ
fbem-14891	25	25	guo	guo	PROPN
fbem-14891	25	26	,	,	PUNCT
fbem-14891	25	27	2019	2019	NUM
fbem-14891	25	28	;	;	PUNCT
fbem-14891	25	29	zou	zou	PROPN
fbem-14891	25	30	shaohui	shaohui	PROPN
fbem-14891	25	31	and	and	CCONJ
fbem-14891	25	32	zhang	zhang	PROPN
fbem-14891	25	33	tian	tian	PROPN
fbem-14891	25	34	,	,	PUNCT
fbem-14891	25	35	2020	2020	NUM
fbem-14891	25	36	)	)	PUNCT
fbem-14891	25	37	.	.	PUNCT
fbem-14891	26	1	with	with	ADP
fbem-14891	26	2	the	the	DET
fbem-14891	26	3	increasing	increase	VERB
fbem-14891	26	4	proportion	proportion	NOUN
fbem-14891	26	5	of	of	ADP
fbem-14891	26	6	low	low	ADJ
fbem-14891	26	7	-	-	PUNCT
fbem-14891	26	8	carbon	carbon	NOUN
fbem-14891	26	9	energy	energy	NOUN
fbem-14891	26	10	in	in	ADP
fbem-14891	26	11	the	the	DET
fbem-14891	26	12	total	total	ADJ
fbem-14891	26	13	energy	energy	NOUN
fbem-14891	26	14	consumption	consumption	NOUN
fbem-14891	26	15	in	in	ADP
fbem-14891	26	16	recent	recent	ADJ
fbem-14891	26	17	years	year	NOUN
fbem-14891	26	18	,	,	PUNCT
fbem-14891	26	19	the	the	DET
fbem-14891	26	20	new	new	ADJ
fbem-14891	26	21	energy	energy	NOUN
fbem-14891	26	22	sector	sector	NOUN
fbem-14891	26	23	has	have	AUX
fbem-14891	26	24	gradually	gradually	ADV
fbem-14891	26	25	become	become	VERB
fbem-14891	26	26	one	one	NUM
fbem-14891	26	27	of	of	ADP
fbem-14891	26	28	the	the	DET
fbem-14891	26	29	fastest	fast	ADV
fbem-14891	26	30	-	-	PUNCT
fbem-14891	26	31	growing	grow	VERB
fbem-14891	26	32	energy	energy	NOUN
fbem-14891	26	33	sectors	sector	NOUN
fbem-14891	26	34	.	.	PUNCT
fbem-14891	27	1	nie	nie	PROPN
fbem-14891	27	2	et	et	PROPN
fbem-14891	27	3	al	al	PROPN
fbem-14891	27	4	.	.	PROPN
fbem-14891	27	5	(	(	PUNCT
fbem-14891	27	6	2022	2022	NUM
fbem-14891	27	7	)	)	PUNCT
fbem-14891	27	8	and	and	CCONJ
fbem-14891	27	9	wang	wang	PROPN
fbem-14891	27	10	xiping	xiping	PROPN
fbem-14891	27	11	(	(	PUNCT
fbem-14891	27	12	2022	2022	NUM
fbem-14891	27	13	)	)	PUNCT
fbem-14891	27	14	found	find	VERB
fbem-14891	27	15	that	that	SCONJ
fbem-14891	27	16	the	the	DET
fbem-14891	27	17	new	new	ADJ
fbem-14891	27	18	energy	energy	NOUN
fbem-14891	27	19	market	market	NOUN
fbem-14891	27	20	has	have	VERB
fbem-14891	27	21	a	a	DET
fbem-14891	27	22	significant	significant	ADJ
fbem-14891	27	23	spillover	spillover	NOUN
fbem-14891	27	24	effect	effect	NOUN
fbem-14891	27	25	on	on	ADP
fbem-14891	27	26	the	the	DET
fbem-14891	27	27	carbon	carbon	NOUN
fbem-14891	27	28	market	market	NOUN
fbem-14891	27	29	(	(	PUNCT
fbem-14891	27	30	new	new	ADJ
fbem-14891	27	31	energy	energy	NOUN
fbem-14891	27	32	carbon	carbon	NOUN
fbem-14891	27	33	)	)	PUNCT
fbem-14891	27	34	.	.	PUNCT
fbem-14891	28	1	however	however	ADV
fbem-14891	28	2	,	,	PUNCT
fbem-14891	28	3	few	few	ADJ
fbem-14891	28	4	scholars	scholar	NOUN
fbem-14891	28	5	in	in	ADP
fbem-14891	28	6	existing	exist	VERB
fbem-14891	28	7	research	research	NOUN
fbem-14891	28	8	have	have	AUX
fbem-14891	28	9	simultaneously	simultaneously	ADV
fbem-14891	28	10	examined	examine	VERB
fbem-14891	28	11	the	the	DET
fbem-14891	28	12	dynamic	dynamic	ADJ
fbem-14891	28	13	correlation	correlation	NOUN
fbem-14891	28	14	between	between	ADP
fbem-14891	28	15	china	china	PROPN
fbem-14891	28	16	's	's	PART
fbem-14891	28	17	two	two	NUM
fbem-14891	28	18	important	important	ADJ
fbem-14891	28	19	emerging	emerge	VERB
fbem-14891	28	20	markets	market	NOUN
fbem-14891	28	21	(	(	PUNCT
fbem-14891	28	22	carbon	carbon	NOUN
fbem-14891	28	23	market	market	NOUN
fbem-14891	28	24	and	and	CCONJ
fbem-14891	28	25	new	new	ADJ
fbem-14891	28	26	energy	energy	NOUN
fbem-14891	28	27	market	market	NOUN
fbem-14891	28	28	)	)	PUNCT
fbem-14891	28	29	,	,	PUNCT
fbem-14891	28	30	and	and	CCONJ
fbem-14891	28	31	the	the	DET
fbem-14891	28	32	stable	stable	ADJ
fbem-14891	28	33	development	development	NOUN
fbem-14891	28	34	of	of	ADP
fbem-14891	28	35	these	these	DET
fbem-14891	28	36	two	two	NUM
fbem-14891	28	37	major	major	ADJ
fbem-14891	28	38	emerging	emerge	VERB
fbem-14891	28	39	markets	market	NOUN
fbem-14891	28	40	and	and	CCONJ
fbem-14891	28	41	traditional	traditional	ADJ
fbem-14891	28	42	financial	financial	ADJ
fbem-14891	28	43	markets	market	NOUN
fbem-14891	28	44	is	be	AUX
fbem-14891	28	45	of	of	ADP
fbem-14891	28	46	great	great	ADJ
fbem-14891	28	47	significance	significance	NOUN
fbem-14891	28	48	for	for	ADP
fbem-14891	28	49	further	far	ADV
fbem-14891	28	50	promoting	promote	VERB
fbem-14891	28	51	china	china	PROPN
fbem-14891	28	52	's	's	PART
fbem-14891	28	53	stable	stable	ADJ
fbem-14891	28	54	economic	economic	ADJ
fbem-14891	28	55	development	development	NOUN
fbem-14891	28	56	and	and	CCONJ
fbem-14891	28	57	low	low	ADJ
fbem-14891	28	58	-	-	PUNCT
fbem-14891	28	59	carbon	carbon	NOUN
fbem-14891	28	60	industrial	industrial	ADJ
fbem-14891	28	61	transformation	transformation	NOUN
fbem-14891	28	62	.	.	PUNCT
fbem-14891	29	1	in	in	ADP
fbem-14891	29	2	view	view	NOUN
fbem-14891	29	3	of	of	ADP
fbem-14891	29	4	this	this	PRON
fbem-14891	29	5	,	,	PUNCT
fbem-14891	29	6	the	the	DET
fbem-14891	29	7	purpose	purpose	NOUN
fbem-14891	29	8	of	of	ADP
fbem-14891	29	9	this	this	DET
fbem-14891	29	10	project	project	NOUN
fbem-14891	29	11	is	be	AUX
fbem-14891	29	12	to	to	PART
fbem-14891	29	13	study	study	VERB
fbem-14891	29	14	the	the	DET
fbem-14891	29	15	volatility	volatility	NOUN
fbem-14891	29	16	spillover	spillover	VERB
fbem-14891	29	17	effect	effect	NOUN
fbem-14891	29	18	between	between	ADP
fbem-14891	29	19	these	these	DET
fbem-14891	29	20	three	three	NUM
fbem-14891	29	21	markets	market	NOUN
fbem-14891	29	22	,	,	PUNCT
fbem-14891	29	23	understand	understand	VERB
fbem-14891	29	24	the	the	DET
fbem-14891	29	25	time	time	NOUN
fbem-14891	29	26	-	-	PUNCT
fbem-14891	29	27	varying	vary	VERB
fbem-14891	29	28	correlation	correlation	NOUN
fbem-14891	29	29	degree	degree	NOUN
fbem-14891	29	30	and	and	CCONJ
fbem-14891	29	31	risk	risk	NOUN
fbem-14891	29	32	transmission	transmission	NOUN
fbem-14891	29	33	direction	direction	NOUN
fbem-14891	29	34	between	between	ADP
fbem-14891	29	35	the	the	DET
fbem-14891	29	36	two	two	NUM
fbem-14891	29	37	emerging	emerge	VERB
fbem-14891	29	38	markets	market	NOUN
fbem-14891	29	39	(	(	PUNCT
fbem-14891	29	40	carbon	carbon	NOUN
fbem-14891	29	41	market	market	NOUN
fbem-14891	29	42	and	and	CCONJ
fbem-14891	29	43	new	new	ADJ
fbem-14891	29	44	energy	energy	NOUN
fbem-14891	29	45	market	market	NOUN
fbem-14891	29	46	)	)	PUNCT
fbem-14891	29	47	,	,	PUNCT
fbem-14891	29	48	which	which	PRON
fbem-14891	29	49	is	be	AUX
fbem-14891	29	50	crucial	crucial	ADJ
fbem-14891	29	51	for	for	ADP
fbem-14891	29	52	the	the	DET
fbem-14891	29	53	stable	stable	ADJ
fbem-14891	29	54	development	development	NOUN
fbem-14891	29	55	of	of	ADP
fbem-14891	29	56	china	china	PROPN
fbem-14891	29	57	's	's	PART
fbem-14891	29	58	market	market	NOUN
fbem-14891	29	59	and	and	CCONJ
fbem-14891	29	60	economy	economy	NOUN
fbem-14891	29	61	,	,	PUNCT
fbem-14891	29	62	avoiding	avoid	VERB
fbem-14891	29	63	systematic	systematic	ADJ
fbem-14891	29	64	risk	risk	NOUN
fbem-14891	29	65	between	between	ADP
fbem-14891	29	66	markets	market	NOUN
fbem-14891	29	67	and	and	CCONJ
fbem-14891	29	68	promoting	promote	VERB
fbem-14891	29	69	low	low	ADJ
fbem-14891	29	70	-	-	PUNCT
fbem-14891	29	71	carbon	carbon	NOUN
fbem-14891	29	72	transformation	transformation	NOUN
fbem-14891	29	73	of	of	ADP
fbem-14891	29	74	the	the	DET
fbem-14891	29	75	energy	energy	NOUN
fbem-14891	29	76	industry	industry	NOUN
fbem-14891	29	77	.	.	PUNCT
fbem-14891	30	1	3.2	3.2	NUM
fbem-14891	30	2	.	.	PUNCT
fbem-14891	30	3	research	research	NOUN
fbem-14891	30	4	on	on	ADP
fbem-14891	30	5	asymmetric	asymmetric	ADJ
fbem-14891	30	6	spillover	spillover	NOUN
fbem-14891	30	7	effects	effect	NOUN
fbem-14891	30	8	between	between	ADP
fbem-14891	30	9	markets	market	NOUN
fbem-14891	30	10	in	in	ADP
fbem-14891	30	11	fact	fact	NOUN
fbem-14891	30	12	,	,	PUNCT
fbem-14891	30	13	there	there	PRON
fbem-14891	30	14	is	be	VERB
fbem-14891	30	15	a	a	DET
fbem-14891	30	16	common	common	ADJ
fbem-14891	30	17	asymmetric	asymmetric	ADJ
fbem-14891	30	18	effect	effect	NOUN
fbem-14891	30	19	in	in	ADP
fbem-14891	30	20	financial	financial	ADJ
fbem-14891	30	21	assets	asset	NOUN
fbem-14891	30	22	,	,	PUNCT
fbem-14891	30	23	where	where	SCONJ
fbem-14891	30	24	the	the	DET
fbem-14891	30	25	return	return	NOUN
fbem-14891	30	26	and	and	CCONJ
fbem-14891	30	27	volatility	volatility	NOUN
fbem-14891	30	28	of	of	ADP
fbem-14891	30	29	assets	asset	NOUN
fbem-14891	30	30	are	be	AUX
fbem-14891	30	31	negatively	negatively	ADV
fbem-14891	30	32	correlated	correlate	VERB
fbem-14891	30	33	.	.	PUNCT
fbem-14891	31	1	previous	previous	ADJ
fbem-14891	31	2	studies	study	NOUN
fbem-14891	31	3	have	have	AUX
fbem-14891	31	4	tended	tend	VERB
fbem-14891	31	5	to	to	PART
fbem-14891	31	6	analyze	analyze	VERB
fbem-14891	31	7	the	the	DET
fbem-14891	31	8	asymmetry	asymmetry	NOUN
fbem-14891	31	9	of	of	ADP
fbem-14891	31	10	the	the	DET
fbem-14891	31	11	stock	stock	NOUN
fbem-14891	31	12	market	market	NOUN
fbem-14891	31	13	(	(	PUNCT
fbem-14891	31	14	xu	xu	INTJ
fbem-14891	31	15	et	et	PROPN
fbem-14891	31	16	al	al	PROPN
fbem-14891	31	17	.	.	PROPN
fbem-14891	31	18	,	,	PUNCT
fbem-14891	31	19	2019	2019	NUM
fbem-14891	31	20	;	;	PUNCT
fbem-14891	31	21	tuna	tuna	NOUN
fbem-14891	31	22	et	et	NOUN
fbem-14891	31	23	al	al	PROPN
fbem-14891	31	24	.	.	PROPN
fbem-14891	31	25	,	,	PUNCT
fbem-14891	31	26	2021	2021	NUM
fbem-14891	31	27	;	;	PUNCT
fbem-14891	31	28	li	li	PROPN
fbem-14891	31	29	,	,	PUNCT
fbem-14891	31	30	2021	2021	NUM
fbem-14891	31	31	)	)	PUNCT
fbem-14891	31	32	.	.	PUNCT
fbem-14891	32	1	in	in	ADP
fbem-14891	32	2	recent	recent	ADJ
fbem-14891	32	3	years	year	NOUN
fbem-14891	32	4	,	,	PUNCT
fbem-14891	32	5	some	some	DET
fbem-14891	32	6	scholars	scholar	NOUN
fbem-14891	32	7	have	have	AUX
fbem-14891	32	8	found	find	VERB
fbem-14891	32	9	that	that	SCONJ
fbem-14891	32	10	there	there	PRON
fbem-14891	32	11	are	be	VERB
fbem-14891	32	12	also	also	ADV
fbem-14891	32	13	asymmetric	asymmetric	ADJ
fbem-14891	32	14	effects	effect	NOUN
fbem-14891	32	15	in	in	ADP
fbem-14891	32	16	the	the	DET
fbem-14891	32	17	carbon	carbon	NOUN
fbem-14891	32	18	market	market	NOUN
fbem-14891	32	19	(	(	PUNCT
fbem-14891	32	20	fan	fan	PROPN
fbem-14891	32	21	liwei	liwei	PROPN
fbem-14891	32	22	et	et	PROPN
fbem-14891	32	23	al	al	PROPN
fbem-14891	32	24	.	.	PROPN
fbem-14891	32	25	,	,	PUNCT
fbem-14891	32	26	2022	2022	NUM
fbem-14891	32	27	)	)	PUNCT
fbem-14891	32	28	,	,	PUNCT
fbem-14891	32	29	but	but	CCONJ
fbem-14891	32	30	most	most	ADJ
fbem-14891	32	31	of	of	ADP
fbem-14891	32	32	them	they	PRON
fbem-14891	32	33	pay	pay	VERB
fbem-14891	32	34	more	more	ADJ
fbem-14891	32	35	attention	attention	NOUN
fbem-14891	32	36	to	to	ADP
fbem-14891	32	37	the	the	DET
fbem-14891	32	38	eu	eu	PROPN
fbem-14891	32	39	carbon	carbon	NOUN
fbem-14891	32	40	market	market	NOUN
fbem-14891	32	41	(	(	PUNCT
fbem-14891	32	42	reboredo	reboredo	PROPN
fbem-14891	32	43	et	et	PROPN
fbem-14891	32	44	al	al	PROPN
fbem-14891	32	45	.	.	PROPN
fbem-14891	32	46	,	,	PUNCT
fbem-14891	32	47	2014	2014	NUM
fbem-14891	32	48	;	;	PUNCT
fbem-14891	32	49	kim	kim	PROPN
fbem-14891	32	50	et	et	PROPN
fbem-14891	32	51	al	al	PROPN
fbem-14891	32	52	.	.	PROPN
fbem-14891	32	53	,	,	PUNCT
fbem-14891	32	54	2017	2017	NUM
fbem-14891	32	55	;	;	PUNCT
fbem-14891	32	56	liu	liu	PROPN
fbem-14891	32	57	jian	jian	PROPN
fbem-14891	32	58	et	et	PROPN
fbem-14891	32	59	al	al	PROPN
fbem-14891	32	60	.	.	PROPN
fbem-14891	32	61	,	,	PUNCT
fbem-14891	32	62	2020	2020	NUM
fbem-14891	32	63	)	)	PUNCT
fbem-14891	32	64	.	.	PUNCT
fbem-14891	33	1	as	as	ADP
fbem-14891	33	2	for	for	ADP
fbem-14891	33	3	china	china	PROPN
fbem-14891	33	4	's	's	PART
fbem-14891	33	5	carbon	carbon	NOUN
fbem-14891	33	6	market	market	NOUN
fbem-14891	33	7	,	,	PUNCT
fbem-14891	33	8	wang	wang	PROPN
fbem-14891	33	9	qian	qian	PROPN
fbem-14891	33	10	and	and	CCONJ
fbem-14891	33	11	lu	lu	PROPN
fbem-14891	33	12	jingjing	jingjing	PROPN
fbem-14891	33	13	(	(	PUNCT
fbem-14891	33	14	2017	2017	NUM
fbem-14891	33	15	)	)	PUNCT
fbem-14891	33	16	found	find	VERB
fbem-14891	33	17	that	that	SCONJ
fbem-14891	33	18	there	there	PRON
fbem-14891	33	19	are	be	VERB
fbem-14891	33	20	regional	regional	ADJ
fbem-14891	33	21	differences	difference	NOUN
fbem-14891	33	22	in	in	ADP
fbem-14891	33	23	the	the	DET
fbem-14891	33	24	positive	positive	ADJ
fbem-14891	33	25	and	and	CCONJ
fbem-14891	33	26	negative	negative	ADJ
fbem-14891	33	27	impacts	impact	NOUN
fbem-14891	33	28	of	of	ADP
fbem-14891	33	29	rmb	rmb	NOUN
fbem-14891	33	30	exchange	exchange	NOUN
fbem-14891	33	31	rate	rate	NOUN
fbem-14891	33	32	fluctuations	fluctuation	NOUN
fbem-14891	33	33	on	on	ADP
fbem-14891	33	34	carbon	carbon	NOUN
fbem-14891	33	35	prices	price	NOUN
fbem-14891	33	36	based	base	VERB
fbem-14891	33	37	on	on	ADP
fbem-14891	33	38	the	the	DET
fbem-14891	33	39	markov	markov	NOUN
fbem-14891	33	40	transformation	transformation	NOUN
fbem-14891	33	41	model	model	NOUN
fbem-14891	33	42	,	,	PUNCT
fbem-14891	33	43	but	but	CCONJ
fbem-14891	33	44	the	the	DET
fbem-14891	33	45	impact	impact	NOUN
fbem-14891	33	46	directions	direction	NOUN
fbem-14891	33	47	in	in	ADP
fbem-14891	33	48	low	low	ADJ
fbem-14891	33	49	and	and	CCONJ
fbem-14891	33	50	high	high	ADJ
fbem-14891	33	51	volatility	volatility	NOUN
fbem-14891	33	52	states	state	NOUN
fbem-14891	33	53	are	be	AUX
fbem-14891	33	54	consistent	consistent	ADJ
fbem-14891	33	55	across	across	ADP
fbem-14891	33	56	regions	region	NOUN
fbem-14891	33	57	.	.	PUNCT
fbem-14891	34	1	zhou	zhou	PROPN
fbem-14891	34	2	et	et	PROPN
fbem-14891	34	3	al	al	PROPN
fbem-14891	34	4	.	.	PROPN
fbem-14891	35	1	(	(	PUNCT
fbem-14891	35	2	2019	2019	NUM
fbem-14891	35	3	)	)	PUNCT
fbem-14891	35	4	only	only	ADV
fbem-14891	35	5	revealed	reveal	VERB
fbem-14891	35	6	the	the	DET
fbem-14891	35	7	existence	existence	NOUN
fbem-14891	35	8	of	of	ADP
fbem-14891	35	9	asymmetric	asymmetric	ADJ
fbem-14891	35	10	effects	effect	NOUN
fbem-14891	35	11	in	in	ADP
fbem-14891	35	12	a	a	DET
fbem-14891	35	13	single	single	ADJ
fbem-14891	35	14	carbon	carbon	NOUN
fbem-14891	35	15	market	market	NOUN
fbem-14891	35	16	.	.	PUNCT
fbem-14891	36	1	on	on	ADP
fbem-14891	36	2	this	this	DET
fbem-14891	36	3	basis	basis	NOUN
fbem-14891	36	4	,	,	PUNCT
fbem-14891	36	5	jian	jian	PROPN
fbem-14891	36	6	et	et	PROPN
fbem-14891	36	7	al	al	PROPN
fbem-14891	36	8	.	.	PROPN
fbem-14891	36	9	(	(	PUNCT
fbem-14891	36	10	2020	2020	NUM
fbem-14891	36	11	)	)	PUNCT
fbem-14891	36	12	used	use	VERB
fbem-14891	36	13	a	a	DET
fbem-14891	36	14	leverage	leverage	NOUN
fbem-14891	36	15	random	random	ADJ
fbem-14891	36	16	volatility	volatility	NOUN
fbem-14891	36	17	model	model	NOUN
fbem-14891	36	18	to	to	PART
fbem-14891	36	19	demonstrate	demonstrate	VERB
fbem-14891	36	20	that	that	SCONJ
fbem-14891	36	21	the	the	DET
fbem-14891	36	22	carbon	carbon	NOUN
fbem-14891	36	23	price	price	NOUN
fbem-14891	36	24	fluctuations	fluctuation	NOUN
fbem-14891	36	25	in	in	ADP
fbem-14891	36	26	the	the	DET
fbem-14891	36	27	five	five	NUM
fbem-14891	36	28	pilot	pilot	NOUN
fbem-14891	36	29	markets	market	NOUN
fbem-14891	36	30	in	in	ADP
fbem-14891	36	31	china	china	PROPN
fbem-14891	36	32	have	have	VERB
fbem-14891	36	33	different	different	ADJ
fbem-14891	36	34	leverage	leverage	NOUN
fbem-14891	36	35	effects	effect	NOUN
fbem-14891	36	36	.	.	PUNCT
fbem-14891	37	1	liu	liu	PROPN
fbem-14891	37	2	jian	jian	PROPN
fbem-14891	37	3	et	et	PROPN
fbem-14891	37	4	al	al	PROPN
fbem-14891	37	5	.	.	PROPN
fbem-14891	37	6	(	(	PUNCT
fbem-14891	37	7	2020	2020	NUM
fbem-14891	37	8	)	)	PUNCT
fbem-14891	37	9	used	use	VERB
fbem-14891	37	10	the	the	DET
fbem-14891	37	11	sv	sv	PROPN
fbem-14891	37	12	copula	copula	PROPN
fbem-14891	37	13	model	model	NOUN
fbem-14891	37	14	to	to	PART
fbem-14891	37	15	study	study	VERB
fbem-14891	37	16	the	the	DET
fbem-14891	37	17	multifractal	multifractal	ADJ
fbem-14891	37	18	characteristics	characteristic	NOUN
fbem-14891	37	19	and	and	CCONJ
fbem-14891	37	20	market	market	NOUN
fbem-14891	37	21	efficiency	efficiency	NOUN
fbem-14891	37	22	of	of	ADP
fbem-14891	37	23	carbon	carbon	NOUN
fbem-14891	37	24	market	market	NOUN
fbem-14891	37	25	price	price	NOUN
fbem-14891	37	26	fluctuations	fluctuation	NOUN
fbem-14891	37	27	in	in	ADP
fbem-14891	37	28	china	china	PROPN
fbem-14891	37	29	and	and	CCONJ
fbem-14891	37	30	the	the	DET
fbem-14891	37	31	european	european	PROPN
fbem-14891	37	32	union	union	PROPN
fbem-14891	37	33	.	.	PUNCT
fbem-14891	38	1	the	the	DET
fbem-14891	38	2	empirical	empirical	ADJ
fbem-14891	38	3	results	result	NOUN
fbem-14891	38	4	show	show	VERB
fbem-14891	38	5	that	that	SCONJ
fbem-14891	38	6	there	there	PRON
fbem-14891	38	7	is	be	VERB
fbem-14891	38	8	significant	significant	ADJ
fbem-14891	38	9	volatility	volatility	NOUN
fbem-14891	38	10	persistence	persistence	NOUN
fbem-14891	38	11	and	and	CCONJ
fbem-14891	38	12	leverage	leverage	NOUN
fbem-14891	38	13	effect	effect	NOUN
fbem-14891	38	14	in	in	ADP
fbem-14891	38	15	these	these	DET
fbem-14891	38	16	two	two	NUM
fbem-14891	38	17	markets	market	NOUN
fbem-14891	38	18	.	.	PUNCT
fbem-14891	39	1	to	to	PART
fbem-14891	39	2	further	far	ADV
fbem-14891	39	3	investigate	investigate	VERB
fbem-14891	39	4	the	the	DET
fbem-14891	39	5	asymmetric	asymmetric	ADJ
fbem-14891	39	6	spillover	spillover	NOUN
fbem-14891	39	7	effects	effect	NOUN
fbem-14891	39	8	between	between	ADP
fbem-14891	39	9	markets	market	NOUN
fbem-14891	39	10	,	,	PUNCT
fbem-14891	39	11	barun	barun	PROPN
fbem-14891	39	12	í	í	PROPN
fbem-14891	39	13	k	k	PROPN
fbem-14891	39	14	et	et	PROPN
fbem-14891	39	15	al	al	PROPN
fbem-14891	39	16	.	.	PROPN
fbem-14891	40	1	(	(	PUNCT
fbem-14891	40	2	2016	2016	NUM
fbem-14891	40	3	)	)	PUNCT
fbem-14891	40	4	divided	divide	VERB
fbem-14891	40	5	volatility	volatility	NOUN
fbem-14891	40	6	into	into	ADP
fbem-14891	40	7	good	good	ADJ
fbem-14891	40	8	volatility	volatility	NOUN
fbem-14891	40	9	and	and	CCONJ
fbem-14891	40	10	bad	bad	ADJ
fbem-14891	40	11	volatility	volatility	NOUN
fbem-14891	40	12	,	,	PUNCT
fbem-14891	40	13	and	and	CCONJ
fbem-14891	40	14	studied	study	VERB
fbem-14891	40	15	the	the	DET
fbem-14891	40	16	spillover	spillover	NOUN
fbem-14891	40	17	relationship	relationship	NOUN
fbem-14891	40	18	between	between	ADP
fbem-14891	40	19	stocks	stock	NOUN
fbem-14891	40	20	in	in	ADP
fbem-14891	40	21	seven	seven	NUM
fbem-14891	40	22	industries	industry	NOUN
fbem-14891	40	23	in	in	ADP
fbem-14891	40	24	the	the	DET
fbem-14891	40	25	united	united	PROPN
fbem-14891	40	26	states	states	PROPN
fbem-14891	40	27	by	by	ADP
fbem-14891	40	28	combining	combine	VERB
fbem-14891	40	29	the	the	DET
fbem-14891	40	30	realized	realize	VERB
fbem-14891	40	31	semi	semi	ADJ
fbem-14891	40	32	volatility	volatility	NOUN
fbem-14891	40	33	and	and	CCONJ
fbem-14891	40	34	volatility	volatility	NOUN
fbem-14891	40	35	spillover	spillover	VERB
fbem-14891	40	36	index	index	NOUN
fbem-14891	40	37	.	.	PUNCT
fbem-14891	41	1	due	due	ADP
fbem-14891	41	2	to	to	ADP
fbem-14891	41	3	the	the	DET
fbem-14891	41	4	susceptibility	susceptibility	NOUN
fbem-14891	41	5	of	of	ADP
fbem-14891	41	6	high	high	ADJ
fbem-14891	41	7	-	-	PUNCT
fbem-14891	41	8	frequency	frequency	NOUN
fbem-14891	41	9	data	datum	NOUN
fbem-14891	41	10	to	to	ADP
fbem-14891	41	11	micro	micro	NOUN
fbem-14891	41	12	perturbations	perturbation	NOUN
fbem-14891	41	13	,	,	PUNCT
fbem-14891	41	14	the	the	DET
fbem-14891	41	15	estimation	estimation	NOUN
fbem-14891	41	16	of	of	ADP
fbem-14891	41	17	volatility	volatility	NOUN
fbem-14891	41	18	may	may	AUX
fbem-14891	41	19	deviate	deviate	VERB
fbem-14891	41	20	.	.	PUNCT
fbem-14891	42	1	bensa	bensa	PROPN
fbem-14891	42	2	ï	ï	PROPN
fbem-14891	42	3	da	da	X
fbem-14891	42	4	(	(	PUNCT
fbem-14891	42	5	2019	2019	NUM
fbem-14891	42	6	)	)	PUNCT
fbem-14891	42	7	proposed	propose	VERB
fbem-14891	42	8	a	a	DET
fbem-14891	42	9	new	new	ADJ
fbem-14891	42	10	method	method	NOUN
fbem-14891	42	11	that	that	PRON
fbem-14891	42	12	combines	combine	VERB
fbem-14891	42	13	the	the	DET
fbem-14891	42	14	gjr	gjr	NOUN
fbem-14891	42	15	model	model	NOUN
fbem-14891	42	16	and	and	CCONJ
fbem-14891	42	17	the	the	DET
fbem-14891	42	18	spillover	spillover	NOUN
fbem-14891	42	19	index	index	NOUN
fbem-14891	42	20	model	model	NOUN
fbem-14891	42	21	from	from	ADP
fbem-14891	42	22	positive	positive	ADJ
fbem-14891	42	23	and	and	CCONJ
fbem-14891	42	24	negative	negative	ADJ
fbem-14891	42	25	shocks	shock	NOUN
fbem-14891	42	26	to	to	PART
fbem-14891	42	27	analyze	analyze	VERB
fbem-14891	42	28	the	the	DET
fbem-14891	42	29	asymmetric	asymmetric	ADJ
fbem-14891	42	30	volatility	volatility	NOUN
fbem-14891	42	31	spillover	spillover	VERB
fbem-14891	42	32	effects	effect	NOUN
fbem-14891	42	33	in	in	ADP
fbem-14891	42	34	different	different	ADJ
fbem-14891	42	35	financial	financial	ADJ
fbem-14891	42	36	markets	market	NOUN
fbem-14891	42	37	.	.	PUNCT
fbem-14891	43	1	in	in	ADP
fbem-14891	43	2	view	view	NOUN
fbem-14891	43	3	of	of	ADP
fbem-14891	43	4	this	this	PRON
fbem-14891	43	5	,	,	PUNCT
fbem-14891	43	6	this	this	DET
fbem-14891	43	7	project	project	NOUN
fbem-14891	43	8	divides	divide	VERB
fbem-14891	43	9	the	the	DET
fbem-14891	43	10	volatility	volatility	NOUN
fbem-14891	43	11	of	of	ADP
fbem-14891	43	12	each	each	DET
fbem-14891	43	13	market	market	NOUN
fbem-14891	43	14	into	into	ADP
fbem-14891	43	15	good	good	ADJ
fbem-14891	43	16	volatility	volatility	NOUN
fbem-14891	43	17	and	and	CCONJ
fbem-14891	43	18	bad	bad	ADJ
fbem-14891	43	19	volatility	volatility	NOUN
fbem-14891	43	20	based	base	VERB
fbem-14891	43	21	on	on	ADP
fbem-14891	43	22	the	the	DET
fbem-14891	43	23	gjr	gjr	NOUN
fbem-14891	43	24	model	model	NOUN
fbem-14891	43	25	,	,	PUNCT
fbem-14891	43	26	further	far	ADV
fbem-14891	43	27	exploring	explore	VERB
fbem-14891	43	28	the	the	DET
fbem-14891	43	29	asymmetric	asymmetric	ADJ
fbem-14891	43	30	spillover	spillover	NOUN
fbem-14891	43	31	effect	effect	NOUN
fbem-14891	43	32	between	between	ADP
fbem-14891	43	33	china	china	PROPN
fbem-14891	43	34	's	's	PART
fbem-14891	43	35	carbon	carbon	NOUN
fbem-14891	43	36	market	market	NOUN
fbem-14891	43	37	and	and	CCONJ
fbem-14891	43	38	new	new	ADJ
fbem-14891	43	39	energy	energy	NOUN
fbem-14891	43	40	market	market	NOUN
fbem-14891	43	41	.	.	PUNCT
fbem-14891	44	1	1	1	NUM
fbem-14891	44	2			PROPN
fbem-14891	44	3			NUM
fbem-14891	44	4			PROPN
fbem-14891	44	5			PROPN
fbem-14891	44	6	p	p	PROPN
fbem-14891	44	7	t	t	NOUN
fbem-14891	45	1	i	i	PRON
fbem-14891	45	2	t	t	X
fbem-14891	46	1	i	i	PRON
fbem-14891	46	2	t	t	VERB
fbem-14891	47	1	i	i	PRON
fbem-14891	47	2	x	x	PROPN
fbem-14891	47	3	yx	yx	NOUN
fbem-14891	47	4	0	0	NUM
fbem-14891	47	5			PROPN
fbem-14891	47	6			VERB
fbem-14891	47	7			NOUN
fbem-14891	47	8			NUM
fbem-14891	47	9			PROPN
fbem-14891	48	1	t	t	ADJ
fbem-14891	49	1	i	i	PRON
fbem-14891	49	2	t	t	VERB
fbem-14891	50	1	i	i	PRON
fbem-14891	50	2	i	i	INTJ
fbem-14891	50	3	x	x	VERB
fbem-14891	50	4	a	a	PRON
fbem-14891	50	5	based	base	VERB
fbem-14891	50	6	on	on	ADP
fbem-14891	50	7	the	the	DET
fbem-14891	50	8	above	above	ADJ
fbem-14891	50	9	vector	vector	NOUN
fbem-14891	50	10	autoregressive	autoregressive	ADJ
fbem-14891	50	11	model	model	NOUN
fbem-14891	50	12	,	,	PUNCT
fbem-14891	50	13	the	the	DET
fbem-14891	50	14	improved	improve	VERB
fbem-14891	50	15	dy	dy	NOUN
fbem-14891	50	16	spillover	spillover	PROPN
fbem-14891	50	17	index	index	NOUN
fbem-14891	50	18	model	model	NOUN
fbem-14891	50	19	(	(	PUNCT
fbem-14891	50	20	diebold	diebold	NOUN
fbem-14891	50	21	and	and	CCONJ
fbem-14891	50	22	yilmaz	yilmaz	NOUN
fbem-14891	50	23	,	,	PUNCT
fbem-14891	50	24	2012	2012	NUM
fbem-14891	50	25	)	)	PUNCT
fbem-14891	50	26	adopts	adopt	VERB
fbem-14891	50	27	the	the	DET
fbem-14891	50	28	kpps	kpps	NOUN
fbem-14891	50	29	method	method	NOUN
fbem-14891	50	30	(	(	PUNCT
fbem-14891	50	31	generalized	generalized	ADJ
fbem-14891	50	32	variance	variance	NOUN
fbem-14891	50	33	decomposition	decomposition	NOUN
fbem-14891	50	34	)	)	PUNCT
fbem-14891	50	35	proposed	propose	VERB
fbem-14891	50	36	by	by	ADP
fbem-14891	50	37	koop	koop	PROPN
fbem-14891	50	38	et	et	PROPN
fbem-14891	50	39	al	al	PROPN
fbem-14891	50	40	.	.	PROPN
fbem-14891	51	1	(	(	PUNCT
fbem-14891	51	2	1996	1996	NUM
fbem-14891	51	3	)	)	PUNCT
fbem-14891	51	4	,	,	PUNCT
fbem-14891	51	5	pesaran	pesaran	NOUN
fbem-14891	51	6	and	and	CCONJ
fbem-14891	51	7	shin	shin	NOUN
fbem-14891	51	8	(	(	PUNCT
fbem-14891	51	9	1998	1998	NUM
fbem-14891	51	10	)	)	PUNCT
fbem-14891	51	11	to	to	PART
fbem-14891	51	12	deal	deal	VERB
fbem-14891	51	13	with	with	ADP
fbem-14891	51	14	the	the	DET
fbem-14891	51	15	impact	impact	NOUN
fbem-14891	51	16	of	of	ADP
fbem-14891	51	17	the	the	DET
fbem-14891	51	18	predicted	predict	VERB
fbem-14891	51	19	residual	residual	ADJ
fbem-14891	51	20	term	term	NOUN
fbem-14891	51	21	,	,	PUNCT
fbem-14891	51	22	thereby	thereby	ADV
fbem-14891	51	23	eliminating	eliminate	VERB
fbem-14891	51	24	the	the	DET
fbem-14891	51	25	dependence	dependence	NOUN
fbem-14891	51	26	of	of	ADP
fbem-14891	51	27	the	the	DET
fbem-14891	51	28	results	result	NOUN
fbem-14891	51	29	on	on	ADP
fbem-14891	51	30	the	the	DET
fbem-14891	51	31	lag	lag	NOUN
fbem-14891	51	32	order	order	NOUN
fbem-14891	51	33	of	of	ADP
fbem-14891	51	34	the	the	DET
fbem-14891	51	35	variables	variable	NOUN
fbem-14891	51	36	.	.	PUNCT
fbem-14891	52	1	compared	compare	VERB
fbem-14891	52	2	with	with	ADP
fbem-14891	52	3	cholesky	cholesky	PROPN
fbem-14891	52	4	anova	anova	PROPN
fbem-14891	52	5	,	,	PUNCT
fbem-14891	52	6	the	the	DET
fbem-14891	52	7	results	result	NOUN
fbem-14891	52	8	obtained	obtain	VERB
fbem-14891	52	9	by	by	ADP
fbem-14891	52	10	generalized	generalize	VERB
fbem-14891	52	11	anova	anova	PROPN
fbem-14891	52	12	do	do	AUX
fbem-14891	52	13	not	not	PART
fbem-14891	52	14	depend	depend	VERB
fbem-14891	52	15	on	on	ADP
fbem-14891	52	16	the	the	DET
fbem-14891	52	17	lag	lag	NOUN
fbem-14891	52	18	order	order	NOUN
fbem-14891	52	19	of	of	ADP
fbem-14891	52	20	the	the	DET
fbem-14891	52	21	variables	variable	NOUN
fbem-14891	52	22	and	and	CCONJ
fbem-14891	52	23	do	do	AUX
fbem-14891	52	24	not	not	PART
fbem-14891	52	25	require	require	VERB
fbem-14891	52	26	error	error	NOUN
fbem-14891	52	27	orthogonal	orthogonal	ADJ
fbem-14891	52	28	processing	processing	NOUN
fbem-14891	52	29	of	of	ADP
fbem-14891	52	30	the	the	DET
fbem-14891	52	31	equation	equation	NOUN
fbem-14891	52	32	.	.	PUNCT
fbem-14891	53	1	therefore	therefore	ADV
fbem-14891	53	2	,	,	PUNCT
fbem-14891	53	3	the	the	DET
fbem-14891	53	4	sum	sum	NOUN
fbem-14891	53	5	of	of	ADP
fbem-14891	53	6	the	the	DET
fbem-14891	53	7	contributions	contribution	NOUN
fbem-14891	53	8	of	of	ADP
fbem-14891	53	9	the	the	DET
fbem-14891	53	10	variance	variance	NOUN
fbem-14891	53	11	of	of	ADP
fbem-14891	53	12	the	the	DET
fbem-14891	53	13	prediction	prediction	NOUN
fbem-14891	53	14	error	error	NOUN
fbem-14891	53	15	obtained	obtain	VERB
fbem-14891	53	16	by	by	ADP
fbem-14891	53	17	the	the	DET
fbem-14891	53	18	generalized	generalize	VERB
fbem-14891	53	19	anova	anova	PROPN
fbem-14891	53	20	method	method	NOUN
fbem-14891	53	21	(	(	PUNCT
fbem-14891	53	22	that	that	PRON
fbem-14891	53	23	is	is	ADV
fbem-14891	53	24	,	,	PUNCT
fbem-14891	53	25	the	the	DET
fbem-14891	53	26	sum	sum	NOUN
fbem-14891	53	27	of	of	ADP
fbem-14891	53	28	the	the	DET
fbem-14891	53	29	elements	element	NOUN
fbem-14891	53	30	of	of	ADP
fbem-14891	53	31	each	each	DET
fbem-14891	53	32	column	column	NOUN
fbem-14891	53	33	in	in	ADP
fbem-14891	53	34	the	the	DET
fbem-14891	53	35	anova	anova	PROPN
fbem-14891	53	36	table	table	NOUN
fbem-14891	53	37	)	)	PUNCT
fbem-14891	53	38	is	be	AUX
fbem-14891	53	39	not	not	PART
fbem-14891	53	40	necessarily	necessarily	ADV
fbem-14891	53	41	equal	equal	ADJ
fbem-14891	53	42	to	to	ADP
fbem-14891	53	43	1	1	NUM
fbem-14891	53	44	.	.	PUNCT
fbem-14891	54	1	the	the	DET
fbem-14891	54	2	dy	dy	NOUN
fbem-14891	54	3	spillover	spillover	PROPN
fbem-14891	54	4	index	index	NOUN
fbem-14891	54	5	model	model	NOUN
fbem-14891	54	6	is	be	AUX
fbem-14891	54	7	as	as	SCONJ
fbem-14891	54	8	follows	follow	VERB
fbem-14891	54	9	.	.	PUNCT
fbem-14891	55	1			NOUN
fbem-14891	56	1			PUNCT
fbem-14891	56	2			NOUN
fbem-14891	56	3			PROPN
fbem-14891	56	4	1	1	NUM
fbem-14891	56	5	21	21	NUM
fbem-14891	56	6	'	'	NUM
fbem-14891	56	7	0	0	NUM
fbem-14891	56	8	1	1	NUM
fbem-14891	56	9	'	'	PUNCT
fbem-14891	56	10	'	'	NUM
fbem-14891	56	11	0	0	NUM
fbem-14891	56	12	(	(	PUNCT
fbem-14891	56	13	)	)	PUNCT
fbem-14891	56	14			PROPN
fbem-14891	56	15			X
fbem-14891	56	16			PROPN
fbem-14891	56	17			PROPN
fbem-14891	56	18			PROPN
fbem-14891	56	19			PROPN
fbem-14891	56	20			PROPN
fbem-14891	56	21			PROPN
fbem-14891	56	22			NUM
fbem-14891	56	23			NOUN
fbem-14891	56	24			X
fbem-14891	56	25			X
fbem-14891	57	1	h	h	NOUN
fbem-14891	58	1	jj	jj	INTJ
fbem-14891	58	2	i	i	PRON
fbem-14891	58	3	h	h	VERB
fbem-14891	59	1	j	j	PROPN
fbem-14891	59	2	g	g	PROPN
fbem-14891	59	3	h	h	PROPN
fbem-14891	60	1	ij	ij	INTJ
fbem-14891	60	2	h	h	NOUN
fbem-14891	61	1	i	i	PRON
fbem-14891	61	2	h	h	VERB
fbem-14891	62	1	h	h	NOUN
fbem-14891	63	1	i	i	PRON
fbem-14891	63	2	h	h	VERB
fbem-14891	64	1	e	e	X
fbem-14891	64	2	a	a	DET
fbem-14891	64	3	e	e	NOUN
fbem-14891	64	4	h	h	NOUN
fbem-14891	64	5	e	e	PROPN
fbem-14891	64	6	a	a	DET
fbem-14891	64	7	a	a	DET
fbem-14891	64	8	e	e	NOUN
fbem-14891	64	9			PROPN
fbem-14891	64	10			NOUN
fbem-14891	64	11			NOUN
fbem-14891	64	12	2	2	PROPN
fbem-14891	64	13	,	,	PUNCT
fbem-14891	64	14	,	,	PUNCT
fbem-14891	64	15	1	1	NUM
fbem-14891	64	16	,	,	PUNCT
fbem-14891	64	17	1	1	NUM
fbem-14891	64	18	,	,	PUNCT
fbem-14891	64	19	11	11	NUM
fbem-14891	64	20	0	0	NUM
fbem-14891	64	21	2	2	NUM
fbem-14891	64	22			NUM
fbem-14891	64	23			NOUN
fbem-14891	64	24			NOUN
fbem-14891	64	25			NOUN
fbem-14891	64	26			NUM
fbem-14891	64	27			NOUN
fbem-14891	64	28			PROPN
fbem-14891	64	29			PROPN
fbem-14891	64	30			PROPN
fbem-14891	64	31			PROPN
fbem-14891	64	32			X
fbem-14891	65	1			PROPN
fbem-14891	65	2			PROPN
fbem-14891	65	3			PROPN
fbem-14891	65	4			PUNCT
fbem-14891	65	5			PART
fbem-14891	65	6			VERB
fbem-14891	65	7			ADJ
fbem-14891	65	8			NOUN
fbem-14891	65	9			PROPN
fbem-14891	65	10			CCONJ
fbem-14891	65	11			PROPN
fbem-14891	65	12			NOUN
fbem-14891	66	1	i	i	PRON
fbem-14891	66	2	t	t	VERB
fbem-14891	67	1	i	i	PRON
fbem-14891	67	2	t	t	X
fbem-14891	68	1	i	i	PRON
fbem-14891	68	2	t	t	X
fbem-14891	69	1	i	i	PRON
fbem-14891	70	1	i	i	PRON
fbem-14891	70	2	tx	tx	VERB
fbem-14891	71	1	d	d	NOUN
fbem-14891	71	2	r	r	NOUN
fbem-14891	71	3	r	r	NOUN
fbem-14891	71	4	x	x	NOUN
fbem-14891	71	5	on	on	ADP
fbem-14891	71	6	this	this	DET
fbem-14891	71	7	basis	basis	NOUN
fbem-14891	71	8	,	,	PUNCT
fbem-14891	71	9	in	in	ADP
fbem-14891	71	10	order	order	NOUN
fbem-14891	71	11	to	to	PART
fbem-14891	71	12	characterize	characterize	VERB
fbem-14891	71	13	the	the	DET
fbem-14891	71	14	impact	impact	NOUN
fbem-14891	71	15	of	of	ADP
fbem-14891	71	16	good	good	ADJ
fbem-14891	71	17	shocks	shock	NOUN
fbem-14891	71	18	and	and	CCONJ
fbem-14891	71	19	bad	bad	ADJ
fbem-14891	71	20	shocks	shock	NOUN
fbem-14891	71	21	on	on	ADP
fbem-14891	71	22	the	the	DET
fbem-14891	71	23	spillover	spillover	ADJ
fbem-14891	71	24	effect	effect	NOUN
fbem-14891	71	25	of	of	ADP
fbem-14891	71	26	volatility	volatility	NOUN
fbem-14891	71	27	between	between	ADP
fbem-14891	71	28	markets	market	NOUN
fbem-14891	71	29	,	,	PUNCT
fbem-14891	71	30	this	this	DET
fbem-14891	71	31	project	project	NOUN
fbem-14891	71	32	divides	divide	VERB
fbem-14891	71	33	total	total	ADJ
fbem-14891	71	34	volatility	volatility	NOUN
fbem-14891	71	35	into	into	ADP
fbem-14891	71	36	good	good	ADJ
fbem-14891	71	37	volatility	volatility	NOUN
fbem-14891	71	38	and	and	CCONJ
fbem-14891	71	39	bad	bad	ADJ
fbem-14891	71	40	volatility	volatility	NOUN
fbem-14891	71	41	.	.	PUNCT
fbem-14891	72	1	253	253	NUM
fbem-14891	72	2	4	4	NUM
fbem-14891	72	3	.	.	PUNCT
fbem-14891	73	1	literature	literature	NOUN
fbem-14891	73	2	references	reference	NOUN
fbem-14891	73	3	based	base	VERB
fbem-14891	73	4	on	on	ADP
fbem-14891	73	5	the	the	DET
fbem-14891	73	6	above	above	ADJ
fbem-14891	73	7	analysis	analysis	NOUN
fbem-14891	73	8	,	,	PUNCT
fbem-14891	73	9	scholars	scholar	NOUN
fbem-14891	73	10	have	have	AUX
fbem-14891	73	11	paid	pay	VERB
fbem-14891	73	12	more	more	ADJ
fbem-14891	73	13	attention	attention	NOUN
fbem-14891	73	14	to	to	ADP
fbem-14891	73	15	the	the	DET
fbem-14891	73	16	dynamic	dynamic	ADJ
fbem-14891	73	17	correlation	correlation	NOUN
fbem-14891	73	18	research	research	NOUN
fbem-14891	73	19	between	between	ADP
fbem-14891	73	20	the	the	DET
fbem-14891	73	21	carbon	carbon	NOUN
fbem-14891	73	22	market	market	NOUN
fbem-14891	73	23	and	and	CCONJ
fbem-14891	73	24	the	the	DET
fbem-14891	73	25	energy	energy	NOUN
fbem-14891	73	26	market	market	NOUN
fbem-14891	73	27	,	,	PUNCT
fbem-14891	73	28	while	while	SCONJ
fbem-14891	73	29	few	few	ADJ
fbem-14891	73	30	scholars	scholar	NOUN
fbem-14891	73	31	have	have	AUX
fbem-14891	73	32	paid	pay	VERB
fbem-14891	73	33	attention	attention	NOUN
fbem-14891	73	34	to	to	ADP
fbem-14891	73	35	the	the	DET
fbem-14891	73	36	time	time	NOUN
fbem-14891	73	37	-	-	PUNCT
fbem-14891	73	38	varying	vary	VERB
fbem-14891	73	39	correlation	correlation	NOUN
fbem-14891	73	40	degree	degree	NOUN
fbem-14891	73	41	and	and	CCONJ
fbem-14891	73	42	risk	risk	NOUN
fbem-14891	73	43	transmission	transmission	NOUN
fbem-14891	73	44	direction	direction	NOUN
fbem-14891	73	45	between	between	ADP
fbem-14891	73	46	china	china	PROPN
fbem-14891	73	47	's	's	PART
fbem-14891	73	48	two	two	NUM
fbem-14891	73	49	major	major	ADJ
fbem-14891	73	50	emerging	emerge	VERB
fbem-14891	73	51	markets	market	NOUN
fbem-14891	73	52	(	(	PUNCT
fbem-14891	73	53	carbon	carbon	NOUN
fbem-14891	73	54	market	market	NOUN
fbem-14891	73	55	and	and	CCONJ
fbem-14891	73	56	new	new	ADJ
fbem-14891	73	57	energy	energy	NOUN
fbem-14891	73	58	market	market	NOUN
fbem-14891	73	59	)	)	PUNCT
fbem-14891	73	60	.	.	PUNCT
fbem-14891	74	1	in	in	ADP
fbem-14891	74	2	addition	addition	NOUN
fbem-14891	74	3	,	,	PUNCT
fbem-14891	74	4	in	in	ADP
fbem-14891	74	5	the	the	DET
fbem-14891	74	6	study	study	NOUN
fbem-14891	74	7	of	of	ADP
fbem-14891	74	8	volatility	volatility	NOUN
fbem-14891	74	9	spillover	spillover	VERB
fbem-14891	74	10	effects	effect	NOUN
fbem-14891	74	11	between	between	ADP
fbem-14891	74	12	china	china	PROPN
fbem-14891	74	13	's	's	PART
fbem-14891	74	14	carbon	carbon	NOUN
fbem-14891	74	15	market	market	NOUN
fbem-14891	74	16	and	and	CCONJ
fbem-14891	74	17	other	other	ADJ
fbem-14891	74	18	different	different	ADJ
fbem-14891	74	19	markets	market	NOUN
fbem-14891	74	20	,	,	PUNCT
fbem-14891	74	21	scholars	scholar	NOUN
fbem-14891	74	22	generally	generally	ADV
fbem-14891	74	23	overlook	overlook	VERB
fbem-14891	74	24	the	the	DET
fbem-14891	74	25	asymmetry	asymmetry	NOUN
fbem-14891	74	26	of	of	ADP
fbem-14891	74	27	the	the	DET
fbem-14891	74	28	market	market	NOUN
fbem-14891	74	29	,	,	PUNCT
fbem-14891	74	30	and	and	CCONJ
fbem-14891	74	31	accurately	accurately	ADV
fbem-14891	74	32	capturing	capture	VERB
fbem-14891	74	33	the	the	DET
fbem-14891	74	34	asymmetry	asymmetry	NOUN
fbem-14891	74	35	of	of	ADP
fbem-14891	74	36	the	the	DET
fbem-14891	74	37	market	market	NOUN
fbem-14891	74	38	is	be	AUX
fbem-14891	74	39	crucial	crucial	ADJ
fbem-14891	74	40	for	for	ADP
fbem-14891	74	41	estimating	estimate	VERB
fbem-14891	74	42	volatility	volatility	NOUN
fbem-14891	74	43	.	.	PUNCT
fbem-14891	75	1	most	most	ADV
fbem-14891	75	2	importantly	importantly	ADV
fbem-14891	75	3	,	,	PUNCT
fbem-14891	75	4	the	the	DET
fbem-14891	75	5	impact	impact	NOUN
fbem-14891	75	6	of	of	ADP
fbem-14891	75	7	major	major	ADJ
fbem-14891	75	8	events	event	NOUN
fbem-14891	75	9	on	on	ADP
fbem-14891	75	10	national	national	ADJ
fbem-14891	75	11	and	and	CCONJ
fbem-14891	75	12	even	even	ADV
fbem-14891	75	13	global	global	ADJ
fbem-14891	75	14	economies	economy	NOUN
fbem-14891	75	15	and	and	CCONJ
fbem-14891	75	16	markets	market	NOUN
fbem-14891	75	17	is	be	AUX
fbem-14891	75	18	enormous	enormous	ADJ
fbem-14891	75	19	.	.	PUNCT
fbem-14891	76	1	it	it	PRON
fbem-14891	76	2	is	be	AUX
fbem-14891	76	3	of	of	ADP
fbem-14891	76	4	great	great	ADJ
fbem-14891	76	5	practical	practical	ADJ
fbem-14891	76	6	significance	significance	NOUN
fbem-14891	76	7	to	to	PART
fbem-14891	76	8	explore	explore	VERB
fbem-14891	76	9	the	the	DET
fbem-14891	76	10	impact	impact	NOUN
fbem-14891	76	11	of	of	ADP
fbem-14891	76	12	such	such	ADJ
fbem-14891	76	13	events	event	NOUN
fbem-14891	76	14	on	on	ADP
fbem-14891	76	15	volatility	volatility	NOUN
fbem-14891	76	16	spillover	spillover	NOUN
fbem-14891	76	17	effects	effect	NOUN
fbem-14891	76	18	between	between	ADP
fbem-14891	76	19	different	different	ADJ
fbem-14891	76	20	markets	market	NOUN
fbem-14891	76	21	for	for	ADP
fbem-14891	76	22	improving	improve	VERB
fbem-14891	76	23	macro	macro	ADJ
fbem-14891	76	24	prevention	prevention	NOUN
fbem-14891	76	25	of	of	ADP
fbem-14891	76	26	systematic	systematic	ADJ
fbem-14891	76	27	risk	risk	NOUN
fbem-14891	76	28	.	.	PUNCT
fbem-14891	77	1	given	give	VERB
fbem-14891	77	2	this	this	PRON
fbem-14891	77	3	,	,	PUNCT
fbem-14891	77	4	this	this	DET
fbem-14891	77	5	project	project	NOUN
fbem-14891	77	6	first	first	ADV
fbem-14891	77	7	examines	examine	VERB
fbem-14891	77	8	the	the	DET
fbem-14891	77	9	dynamic	dynamic	ADJ
fbem-14891	77	10	interdependence	interdependence	NOUN
fbem-14891	77	11	between	between	ADP
fbem-14891	77	12	china	china	PROPN
fbem-14891	77	13	's	's	PART
fbem-14891	77	14	carbon	carbon	NOUN
fbem-14891	77	15	market	market	NOUN
fbem-14891	77	16	and	and	CCONJ
fbem-14891	77	17	new	new	ADJ
fbem-14891	77	18	energy	energy	NOUN
fbem-14891	77	19	market	market	NOUN
fbem-14891	77	20	based	base	VERB
fbem-14891	77	21	on	on	ADP
fbem-14891	77	22	the	the	DET
fbem-14891	77	23	dy	dy	NOUN
fbem-14891	77	24	spillover	spillover	PROPN
fbem-14891	77	25	index	index	NOUN
fbem-14891	77	26	model	model	NOUN
fbem-14891	77	27	;	;	PUNCT
fbem-14891	77	28	secondly	secondly	ADV
fbem-14891	77	29	,	,	PUNCT
fbem-14891	77	30	in	in	ADP
fbem-14891	77	31	order	order	NOUN
fbem-14891	77	32	to	to	PART
fbem-14891	77	33	capture	capture	VERB
fbem-14891	77	34	market	market	NOUN
fbem-14891	77	35	asymmetry	asymmetry	NOUN
fbem-14891	77	36	,	,	PUNCT
fbem-14891	77	37	this	this	DET
fbem-14891	77	38	project	project	NOUN
fbem-14891	77	39	decomposes	decompose	VERB
fbem-14891	77	40	volatility	volatility	NOUN
fbem-14891	77	41	into	into	ADP
fbem-14891	77	42	good	good	ADJ
fbem-14891	77	43	volatility	volatility	NOUN
fbem-14891	77	44	and	and	CCONJ
fbem-14891	77	45	bad	bad	ADJ
fbem-14891	77	46	volatility	volatility	NOUN
fbem-14891	77	47	based	base	VERB
fbem-14891	77	48	on	on	ADP
fbem-14891	77	49	the	the	DET
fbem-14891	77	50	gjr	gjr	NOUN
fbem-14891	77	51	-	-	PUNCT
fbem-14891	77	52	garch	garch	NOUN
fbem-14891	77	53	model	model	NOUN
fbem-14891	77	54	,	,	PUNCT
fbem-14891	77	55	and	and	CCONJ
fbem-14891	77	56	further	far	ADV
fbem-14891	77	57	explores	explore	VERB
fbem-14891	77	58	the	the	DET
fbem-14891	77	59	asymmetric	asymmetric	ADJ
fbem-14891	77	60	spillover	spillover	NOUN
fbem-14891	77	61	effects	effect	NOUN
fbem-14891	77	62	between	between	ADP
fbem-14891	77	63	these	these	DET
fbem-14891	77	64	three	three	NUM
fbem-14891	77	65	types	type	NOUN
fbem-14891	77	66	of	of	ADP
fbem-14891	77	67	markets	market	NOUN
fbem-14891	77	68	.	.	PUNCT
fbem-14891	78	1	finally	finally	ADV
fbem-14891	78	2	,	,	PUNCT
fbem-14891	78	3	using	use	VERB
fbem-14891	78	4	the	the	DET
fbem-14891	78	5	marginal	marginal	ADJ
fbem-14891	78	6	net	net	ADJ
fbem-14891	78	7	spillover	spillover	NOUN
fbem-14891	78	8	index	index	NOUN
fbem-14891	78	9	(	(	PUNCT
fbem-14891	78	10	mns	mns	PROPN
fbem-14891	78	11	)	)	PUNCT
fbem-14891	78	12	method	method	NOUN
fbem-14891	78	13	,	,	PUNCT
fbem-14891	78	14	this	this	DET
fbem-14891	78	15	paper	paper	NOUN
fbem-14891	78	16	explores	explore	VERB
fbem-14891	78	17	the	the	DET
fbem-14891	78	18	main	main	ADJ
fbem-14891	78	19	sources	source	NOUN
fbem-14891	78	20	and	and	CCONJ
fbem-14891	78	21	paths	path	NOUN
fbem-14891	78	22	of	of	ADP
fbem-14891	78	23	risk	risk	NOUN
fbem-14891	78	24	transmission	transmission	NOUN
fbem-14891	78	25	between	between	ADP
fbem-14891	78	26	china	china	PROPN
fbem-14891	78	27	's	's	PART
fbem-14891	78	28	carbon	carbon	NOUN
fbem-14891	78	29	market	market	NOUN
fbem-14891	78	30	and	and	CCONJ
fbem-14891	78	31	new	new	ADJ
fbem-14891	78	32	energy	energy	NOUN
fbem-14891	78	33	market	market	NOUN
fbem-14891	78	34	under	under	ADP
fbem-14891	78	35	the	the	DET
fbem-14891	78	36	impact	impact	NOUN
fbem-14891	78	37	of	of	ADP
fbem-14891	78	38	major	major	ADJ
fbem-14891	78	39	events	event	NOUN
fbem-14891	78	40	such	such	ADJ
fbem-14891	78	41	as	as	ADP
fbem-14891	78	42	the	the	DET
fbem-14891	78	43	china	china	PROPN
fbem-14891	78	44	–	–	PUNCT
fbem-14891	78	45	united	united	PROPN
fbem-14891	78	46	states	states	PROPN
fbem-14891	78	47	trade	trade	PROPN
fbem-14891	78	48	war	war	PROPN
fbem-14891	78	49	,	,	PUNCT
fbem-14891	78	50	the	the	DET
fbem-14891	78	51	covid-19	covid-19	PROPN
fbem-14891	78	52	and	and	CCONJ
fbem-14891	78	53	the	the	DET
fbem-14891	78	54	russia	russia	PROPN
fbem-14891	78	55	-	-	PUNCT
fbem-14891	78	56	ukraine	ukraine	PROPN
fbem-14891	78	57	conflict	conflict	NOUN
fbem-14891	78	58	.	.	PUNCT
fbem-14891	79	1	5	5	X
fbem-14891	79	2	.	.	X
fbem-14891	79	3	conclusion	conclusion	VERB
fbem-14891	79	4	the	the	DET
fbem-14891	79	5	research	research	NOUN
fbem-14891	79	6	of	of	ADP
fbem-14891	79	7	this	this	DET
fbem-14891	79	8	project	project	NOUN
fbem-14891	79	9	is	be	AUX
fbem-14891	79	10	mainly	mainly	ADV
fbem-14891	79	11	based	base	VERB
fbem-14891	79	12	on	on	ADP
fbem-14891	79	13	the	the	DET
fbem-14891	79	14	dy	dy	NOUN
fbem-14891	79	15	spillover	spillover	PROPN
fbem-14891	79	16	index	index	NOUN
fbem-14891	79	17	model	model	NOUN
fbem-14891	79	18	to	to	PART
fbem-14891	79	19	examine	examine	VERB
fbem-14891	79	20	the	the	DET
fbem-14891	79	21	dynamic	dynamic	ADJ
fbem-14891	79	22	correlation	correlation	NOUN
fbem-14891	79	23	between	between	ADP
fbem-14891	79	24	china	china	PROPN
fbem-14891	79	25	's	's	PART
fbem-14891	79	26	carbon	carbon	NOUN
fbem-14891	79	27	market	market	NOUN
fbem-14891	79	28	and	and	CCONJ
fbem-14891	79	29	new	new	ADJ
fbem-14891	79	30	energy	energy	NOUN
fbem-14891	79	31	market	market	NOUN
fbem-14891	79	32	.	.	PUNCT
fbem-14891	80	1	specifically	specifically	ADV
fbem-14891	80	2	,	,	PUNCT
fbem-14891	80	3	to	to	PART
fbem-14891	80	4	explore	explore	VERB
fbem-14891	80	5	the	the	DET
fbem-14891	80	6	volatility	volatility	NOUN
fbem-14891	80	7	spillover	spillover	VERB
fbem-14891	80	8	effects	effect	NOUN
fbem-14891	80	9	of	of	ADP
fbem-14891	80	10	a	a	DET
fbem-14891	80	11	single	single	ADJ
fbem-14891	80	12	market	market	NOUN
fbem-14891	80	13	under	under	ADP
fbem-14891	80	14	positive	positive	ADJ
fbem-14891	80	15	and	and	CCONJ
fbem-14891	80	16	negative	negative	ADJ
fbem-14891	80	17	shocks	shock	NOUN
fbem-14891	80	18	on	on	ADP
fbem-14891	80	19	other	other	ADJ
fbem-14891	80	20	markets	market	NOUN
fbem-14891	80	21	,	,	PUNCT
fbem-14891	80	22	the	the	DET
fbem-14891	80	23	gjr	gjr	NOUN
fbem-14891	80	24	-	-	PUNCT
fbem-14891	80	25	garch	garch	NOUN
fbem-14891	80	26	model	model	NOUN
fbem-14891	80	27	is	be	AUX
fbem-14891	80	28	used	use	VERB
fbem-14891	80	29	to	to	PART
fbem-14891	80	30	investigate	investigate	VERB
fbem-14891	80	31	the	the	DET
fbem-14891	80	32	asymmetric	asymmetric	ADJ
fbem-14891	80	33	volatility	volatility	NOUN
fbem-14891	80	34	spillover	spillover	VERB
fbem-14891	80	35	effects	effect	NOUN
fbem-14891	80	36	between	between	ADP
fbem-14891	80	37	these	these	DET
fbem-14891	80	38	two	two	NUM
fbem-14891	80	39	types	type	NOUN
fbem-14891	80	40	of	of	ADP
fbem-14891	80	41	markets	market	NOUN
fbem-14891	80	42	.	.	PUNCT
fbem-14891	81	1	acknowledgment	acknowledgment	NOUN
fbem-14891	81	2	thanks	thank	NOUN
fbem-14891	81	3	to	to	ADP
fbem-14891	81	4	the	the	DET
fbem-14891	81	5	financial	financial	ADJ
fbem-14891	81	6	support	support	NOUN
fbem-14891	81	7	of	of	ADP
fbem-14891	81	8	the	the	DET
fbem-14891	81	9	anhui	anhui	PROPN
fbem-14891	81	10	university	university	PROPN
fbem-14891	81	11	of	of	ADP
fbem-14891	81	12	finance	finance	PROPN
fbem-14891	81	13	and	and	CCONJ
fbem-14891	81	14	economics	economic	NOUN
fbem-14891	81	15	research	research	NOUN
fbem-14891	81	16	fund	fund	NOUN
fbem-14891	81	17	(	(	PUNCT
fbem-14891	81	18	project	project	NOUN
fbem-14891	81	19	number	number	NOUN
fbem-14891	81	20	:	:	PUNCT
fbem-14891	81	21	xyky23007zd	xyky23007zd	PROPN
fbem-14891	81	22	)	)	PUNCT
fbem-14891	81	23	.	.	PUNCT
fbem-14891	82	1	references	reference	NOUN
fbem-14891	83	1	[	[	X
fbem-14891	83	2	1	1	NUM
fbem-14891	83	3	]	]	X
fbem-14891	83	4	zhu	zhu	PROPN
fbem-14891	83	5	jigao	jigao	PROPN
fbem-14891	83	6	,	,	PUNCT
fbem-14891	83	7	liang	liang	PROPN
fbem-14891	83	8	xiaoqin	xiaoqin	PROPN
fbem-14891	83	9	,	,	PUNCT
fbem-14891	83	10	qu	qu	PROPN
fbem-14891	83	11	xinyi.standard	xinyi.standard	PROPN
fbem-14891	83	12	connectivity	connectivity	NOUN
fbem-14891	83	13	and	and	CCONJ
fbem-14891	83	14	enterprise	enterprise	NOUN
fbem-14891	83	15	outward	outward	ADP
fbem-14891	83	16	direct	direct	ADJ
fbem-14891	83	17	investment	investment	NOUN
fbem-14891	83	18	:	:	PUNCT
fbem-14891	83	19	based	base	VERB
fbem-14891	83	20	on	on	ADP
fbem-14891	83	21	the	the	DET
fbem-14891	83	22	perspective	perspective	NOUN
fbem-14891	83	23	of	of	ADP
fbem-14891	83	24	outward	outward	ADJ
fbem-14891	83	25	investment	investment	NOUN
fbem-14891	83	26	risk[j	risk[j	NOUN
fbem-14891	83	27	/	/	SYM
fbem-14891	83	28	ol].journal	ol].journal	ADJ
fbem-14891	83	29	of	of	ADP
fbem-14891	83	30	financeand	financeand	NOUN
fbem-14891	83	31	economics	economic	NOUN
fbem-14891	83	32	:	:	PUNCT
fbem-14891	83	33	1	1	NUM
fbem-14891	83	34	-	-	SYM
fbem-14891	83	35	18	18	NUM
fbem-14891	84	1	[	[	SYM
fbem-14891	84	2	2023	2023	NUM
fbem-14891	84	3	-	-	SYM
fbem-14891	84	4	07	07	NUM
fbem-14891	84	5	-	-	SYM
fbem-14891	84	6	25	25	NUM
fbem-14891	84	7	]	]	PUNCT
fbem-14891	84	8	.	.	PUNCT
fbem-14891	85	1	doi:10.16538	doi:10.16538	NOUN
fbem-14891	85	2	/	/	SYM
fbem-14891	85	3	j.cnki.jfe.20230517.102	j.cnki.jfe.20230517.102	ADP
fbem-14891	85	4	.	.	PUNCT
fbem-14891	86	1	[	[	X
fbem-14891	86	2	2	2	NUM
fbem-14891	86	3	]	]	X
fbem-14891	86	4	feng	feng	PROPN
fbem-14891	86	5	chao	chao	PROPN
fbem-14891	86	6	.	.	PUNCT
fbem-14891	87	1	research	research	NOUN
fbem-14891	87	2	on	on	ADP
fbem-14891	87	3	financial	financial	ADJ
fbem-14891	87	4	risk	risk	NOUN
fbem-14891	87	5	and	and	CCONJ
fbem-14891	87	6	control	control	NOUN
fbem-14891	87	7	of	of	ADP
fbem-14891	87	8	enterprise	enterprise	NOUN
fbem-14891	87	9	outbound	outbound	ADJ
fbem-14891	87	10	investment[j].china	investment[j].china	PROPN
fbem-14891	87	11	collective	collective	ADJ
fbem-14891	87	12	economy	economy	NOUN
fbem-14891	87	13	,	,	PUNCT
fbem-14891	87	14	2023	2023	NUM
fbem-14891	87	15	(	(	PUNCT
fbem-14891	87	16	18	18	NUM
fbem-14891	87	17	):	):	PUNCT
fbem-14891	87	18	118	118	NUM
fbem-14891	87	19	-	-	SYM
fbem-14891	87	20	121	121	NUM
fbem-14891	87	21	.	.	PUNCT
fbem-14891	87	22	)	)	PUNCT
fbem-14891	88	1	[	[	X
fbem-14891	88	2	3	3	NUM
fbem-14891	88	3	]	]	PUNCT
fbem-14891	88	4	xu	xu	PROPN
fbem-14891	88	5	haiying	haiying	PROPN
fbem-14891	88	6	,	,	PUNCT
fbem-14891	88	7	zhou	zhou	PROPN
fbem-14891	88	8	chao	chao	PROPN
fbem-14891	88	9	,	,	PUNCT
fbem-14891	88	10	ren	ren	PROPN
fbem-14891	88	11	qilong	qilong	PROPN
fbem-14891	88	12	,	,	PUNCT
fbem-14891	88	13	et	et	PROPN
fbem-14891	88	14	al	al	PROPN
fbem-14891	88	15	.	.	PROPN
fbem-14891	88	16	location	location	NOUN
fbem-14891	88	17	selection	selection	NOUN
fbem-14891	88	18	and	and	CCONJ
fbem-14891	88	19	driving	driving	NOUN
fbem-14891	88	20	factors	factor	NOUN
fbem-14891	88	21	of	of	ADP
fbem-14891	88	22	private	private	ADJ
fbem-14891	88	23	enterprises	enterprise	NOUN
fbem-14891	88	24	in	in	ADP
fbem-14891	88	25	jiangsu	jiangsu	PROPN
fbem-14891	89	1	[	[	X
fbem-14891	89	2	j	j	X
fbem-14891	89	3	]	]	X
fbem-14891	89	4	.	.	PUNCT
fbem-14891	90	1	human	human	ADJ
fbem-14891	90	2	geography	geography	NOUN
fbem-14891	90	3	,	,	PUNCT
fbem-14891	90	4	2023	2023	NUM
fbem-14891	90	5	,	,	PUNCT
fbem-14891	90	6	38(03	38(03	NUM
fbem-14891	90	7	):	):	PUNCT
fbem-14891	90	8	146154.doi:10.13959	146154.doi:10.13959	NUM
fbem-14891	90	9	/	/	SYM
fbem-14891	90	10	j.issn.1003	j.issn.1003	NOUN
fbem-14891	90	11	-	-	PROPN
fbem-14891	90	12	2398.2023.03.016	2398.2023.03.016	PROPN
fbem-14891	90	13	.	.	PUNCT
fbem-14891	90	14	)	)	PUNCT