id	sid	tid	token	lemma	pos
fbem-17288	1	1	frontiers	frontier	NOUN
fbem-17288	1	2	in	in	ADP
fbem-17288	1	3	business	business	NOUN
fbem-17288	1	4	,	,	PUNCT
fbem-17288	1	5	economics	economic	NOUN
fbem-17288	1	6	and	and	CCONJ
fbem-17288	1	7	management	management	NOUN
fbem-17288	1	8	issn	issn	PROPN
fbem-17288	1	9	:	:	PUNCT
fbem-17288	1	10	2766	2766	NUM
fbem-17288	1	11	-	-	PUNCT
fbem-17288	1	12	824x	824x	NUM
fbem-17288	1	13	|	|	ADJ
fbem-17288	1	14	vol	vol	NOUN
fbem-17288	1	15	.	.	PROPN
fbem-17288	1	16	13	13	NUM
fbem-17288	1	17	,	,	PUNCT
fbem-17288	1	18	no	no	INTJ
fbem-17288	1	19	.	.	NOUN
fbem-17288	1	20	2	2	NUM
fbem-17288	1	21	,	,	PUNCT
fbem-17288	1	22	2024	2024	NUM
fbem-17288	1	23	100	100	NUM
fbem-17288	1	24	the	the	DET
fbem-17288	1	25	impact	impact	NOUN
fbem-17288	1	26	factors	factor	NOUN
fbem-17288	1	27	study	study	VERB
fbem-17288	1	28	on	on	ADP
fbem-17288	1	29	the	the	DET
fbem-17288	1	30	appropriate	appropriate	ADJ
fbem-17288	1	31	scale	scale	NOUN
fbem-17288	1	32	of	of	ADP
fbem-17288	1	33	china	china	PROPN
fbem-17288	1	34	's	's	PART
fbem-17288	1	35	foreign	foreign	ADJ
fbem-17288	1	36	exchange	exchange	NOUN
fbem-17288	1	37	reserves	reserve	NOUN
fbem-17288	1	38	dong	dong	PROPN
fbem-17288	1	39	sun	sun	PROPN
fbem-17288	1	40	business	business	PROPN
fbem-17288	1	41	school	school	PROPN
fbem-17288	1	42	,	,	PUNCT
fbem-17288	1	43	east	east	PROPN
fbem-17288	1	44	china	china	PROPN
fbem-17288	1	45	university	university	PROPN
fbem-17288	1	46	of	of	ADP
fbem-17288	1	47	political	political	ADJ
fbem-17288	1	48	science	science	NOUN
fbem-17288	1	49	and	and	CCONJ
fbem-17288	1	50	law	law	NOUN
fbem-17288	1	51	,	,	PUNCT
fbem-17288	1	52	shanghai	shanghai	PROPN
fbem-17288	1	53	,	,	PUNCT
fbem-17288	1	54	china	china	PROPN
fbem-17288	1	55	abstract	abstract	NOUN
fbem-17288	1	56	:	:	PUNCT
fbem-17288	1	57	foreign	foreign	ADJ
fbem-17288	1	58	exchange	exchange	NOUN
fbem-17288	1	59	reserves	reserve	NOUN
fbem-17288	1	60	play	play	VERB
fbem-17288	1	61	a	a	DET
fbem-17288	1	62	crucial	crucial	ADJ
fbem-17288	1	63	role	role	NOUN
fbem-17288	1	64	for	for	ADP
fbem-17288	1	65	a	a	DET
fbem-17288	1	66	country	country	NOUN
fbem-17288	1	67	in	in	ADP
fbem-17288	1	68	maintaining	maintain	VERB
fbem-17288	1	69	a	a	DET
fbem-17288	1	70	balance	balance	NOUN
fbem-17288	1	71	of	of	ADP
fbem-17288	1	72	payments	payment	NOUN
fbem-17288	1	73	,	,	PUNCT
fbem-17288	1	74	enhancing	enhance	VERB
fbem-17288	1	75	international	international	ADJ
fbem-17288	1	76	market	market	NOUN
fbem-17288	1	77	competitiveness	competitiveness	NOUN
fbem-17288	1	78	,	,	PUNCT
fbem-17288	1	79	and	and	CCONJ
fbem-17288	1	80	elevating	elevate	VERB
fbem-17288	1	81	its	its	PRON
fbem-17288	1	82	global	global	ADJ
fbem-17288	1	83	standing	standing	NOUN
fbem-17288	1	84	.	.	PUNCT
fbem-17288	2	1	this	this	DET
fbem-17288	2	2	study	study	NOUN
fbem-17288	2	3	employs	employ	VERB
fbem-17288	2	4	cointegration	cointegration	NOUN
fbem-17288	2	5	analysis	analysis	NOUN
fbem-17288	2	6	to	to	PART
fbem-17288	2	7	delve	delve	VERB
fbem-17288	2	8	into	into	ADP
fbem-17288	2	9	the	the	DET
fbem-17288	2	10	intricate	intricate	ADJ
fbem-17288	2	11	relationship	relationship	NOUN
fbem-17288	2	12	between	between	ADP
fbem-17288	2	13	the	the	DET
fbem-17288	2	14	chinese	chinese	PROPN
fbem-17288	2	15	yuan	yuan	PROPN
fbem-17288	2	16	to	to	ADP
fbem-17288	2	17	u.s	u.s	PROPN
fbem-17288	2	18	.	.	PROPN
fbem-17288	2	19	dollar	dollar	PROPN
fbem-17288	2	20	exchange	exchange	NOUN
fbem-17288	2	21	rate	rate	NOUN
fbem-17288	2	22	,	,	PUNCT
fbem-17288	2	23	external	external	ADJ
fbem-17288	2	24	debt	debt	NOUN
fbem-17288	2	25	balance	balance	NOUN
fbem-17288	2	26	,	,	PUNCT
fbem-17288	2	27	total	total	ADJ
fbem-17288	2	28	imports	import	NOUN
fbem-17288	2	29	,	,	PUNCT
fbem-17288	2	30	and	and	CCONJ
fbem-17288	2	31	the	the	DET
fbem-17288	2	32	scale	scale	NOUN
fbem-17288	2	33	of	of	ADP
fbem-17288	2	34	china	china	PROPN
fbem-17288	2	35	's	's	PART
fbem-17288	2	36	foreign	foreign	ADJ
fbem-17288	2	37	exchange	exchange	NOUN
fbem-17288	2	38	reserves	reserve	NOUN
fbem-17288	2	39	.	.	PUNCT
fbem-17288	3	1	the	the	DET
fbem-17288	3	2	findings	finding	NOUN
fbem-17288	3	3	reveal	reveal	VERB
fbem-17288	3	4	that	that	SCONJ
fbem-17288	3	5	among	among	ADP
fbem-17288	3	6	the	the	DET
fbem-17288	3	7	factors	factor	NOUN
fbem-17288	3	8	considered	consider	VERB
fbem-17288	3	9	,	,	PUNCT
fbem-17288	3	10	total	total	ADJ
fbem-17288	3	11	imports	import	NOUN
fbem-17288	3	12	exert	exert	VERB
fbem-17288	3	13	the	the	DET
fbem-17288	3	14	most	most	ADV
fbem-17288	3	15	significant	significant	ADJ
fbem-17288	3	16	influence	influence	NOUN
fbem-17288	3	17	on	on	ADP
fbem-17288	3	18	the	the	DET
fbem-17288	3	19	scale	scale	NOUN
fbem-17288	3	20	of	of	ADP
fbem-17288	3	21	china	china	PROPN
fbem-17288	3	22	's	's	PART
fbem-17288	3	23	foreign	foreign	ADJ
fbem-17288	3	24	exchange	exchange	NOUN
fbem-17288	3	25	reserves	reserve	NOUN
fbem-17288	3	26	.	.	PUNCT
fbem-17288	4	1	in	in	ADP
fbem-17288	4	2	the	the	DET
fbem-17288	4	3	short	short	ADJ
fbem-17288	4	4	term	term	NOUN
fbem-17288	4	5	,	,	PUNCT
fbem-17288	4	6	a	a	DET
fbem-17288	4	7	negative	negative	ADJ
fbem-17288	4	8	correlation	correlation	NOUN
fbem-17288	4	9	is	be	AUX
fbem-17288	4	10	observed	observe	VERB
fbem-17288	4	11	between	between	ADP
fbem-17288	4	12	foreign	foreign	ADJ
fbem-17288	4	13	exchange	exchange	NOUN
fbem-17288	4	14	reserves	reserve	NOUN
fbem-17288	4	15	and	and	CCONJ
fbem-17288	4	16	the	the	DET
fbem-17288	4	17	yuan	yuan	NOUN
fbem-17288	4	18	to	to	ADP
fbem-17288	4	19	u.s	u.s	PROPN
fbem-17288	4	20	.	.	PROPN
fbem-17288	4	21	dollar	dollar	PROPN
fbem-17288	4	22	exchange	exchange	NOUN
fbem-17288	4	23	rate	rate	NOUN
fbem-17288	4	24	.	.	PUNCT
fbem-17288	5	1	however	however	ADV
fbem-17288	5	2	,	,	PUNCT
fbem-17288	5	3	in	in	ADP
fbem-17288	5	4	the	the	DET
fbem-17288	5	5	long	long	ADJ
fbem-17288	5	6	term	term	NOUN
fbem-17288	5	7	,	,	PUNCT
fbem-17288	5	8	a	a	DET
fbem-17288	5	9	positive	positive	ADJ
fbem-17288	5	10	correlation	correlation	NOUN
fbem-17288	5	11	emerges	emerge	VERB
fbem-17288	5	12	between	between	ADP
fbem-17288	5	13	foreign	foreign	ADJ
fbem-17288	5	14	exchange	exchange	NOUN
fbem-17288	5	15	reserves	reserve	NOUN
fbem-17288	5	16	and	and	CCONJ
fbem-17288	5	17	both	both	CCONJ
fbem-17288	5	18	the	the	DET
fbem-17288	5	19	yuan	yuan	NOUN
fbem-17288	5	20	to	to	ADP
fbem-17288	5	21	u.s	u.s	PROPN
fbem-17288	5	22	.	.	PROPN
fbem-17288	5	23	dollar	dollar	PROPN
fbem-17288	5	24	exchange	exchange	NOUN
fbem-17288	5	25	rate	rate	NOUN
fbem-17288	5	26	and	and	CCONJ
fbem-17288	5	27	total	total	ADJ
fbem-17288	5	28	imports	import	NOUN
fbem-17288	5	29	.	.	PUNCT
fbem-17288	6	1	intriguingly	intriguingly	ADV
fbem-17288	6	2	,	,	PUNCT
fbem-17288	6	3	a	a	DET
fbem-17288	6	4	negative	negative	ADJ
fbem-17288	6	5	correlation	correlation	NOUN
fbem-17288	6	6	is	be	AUX
fbem-17288	6	7	noted	note	VERB
fbem-17288	6	8	with	with	ADP
fbem-17288	6	9	the	the	DET
fbem-17288	6	10	external	external	ADJ
fbem-17288	6	11	debt	debt	NOUN
fbem-17288	6	12	balance	balance	NOUN
fbem-17288	6	13	over	over	ADP
fbem-17288	6	14	the	the	DET
fbem-17288	6	15	long	long	ADJ
fbem-17288	6	16	term	term	NOUN
fbem-17288	6	17	.	.	PUNCT
fbem-17288	7	1	this	this	DET
fbem-17288	7	2	nuanced	nuanced	ADJ
fbem-17288	7	3	analysis	analysis	NOUN
fbem-17288	7	4	sheds	shed	VERB
fbem-17288	7	5	light	light	NOUN
fbem-17288	7	6	on	on	ADP
fbem-17288	7	7	the	the	DET
fbem-17288	7	8	dynamic	dynamic	ADJ
fbem-17288	7	9	interplay	interplay	NOUN
fbem-17288	7	10	between	between	ADP
fbem-17288	7	11	key	key	ADJ
fbem-17288	7	12	economic	economic	ADJ
fbem-17288	7	13	variables	variable	NOUN
fbem-17288	7	14	,	,	PUNCT
fbem-17288	7	15	providing	provide	VERB
fbem-17288	7	16	valuable	valuable	ADJ
fbem-17288	7	17	insights	insight	NOUN
fbem-17288	7	18	for	for	ADP
fbem-17288	7	19	policymakers	policymaker	NOUN
fbem-17288	7	20	,	,	PUNCT
fbem-17288	7	21	economists	economist	NOUN
fbem-17288	7	22	,	,	PUNCT
fbem-17288	7	23	and	and	CCONJ
fbem-17288	7	24	stakeholders	stakeholder	NOUN
fbem-17288	7	25	.	.	PUNCT
fbem-17288	8	1	by	by	ADP
fbem-17288	8	2	uncovering	uncover	VERB
fbem-17288	8	3	the	the	DET
fbem-17288	8	4	intricate	intricate	ADJ
fbem-17288	8	5	relationships	relationship	NOUN
fbem-17288	8	6	and	and	CCONJ
fbem-17288	8	7	time	time	NOUN
fbem-17288	8	8	-	-	PUNCT
fbem-17288	8	9	dependent	dependent	ADJ
fbem-17288	8	10	correlations	correlation	NOUN
fbem-17288	8	11	,	,	PUNCT
fbem-17288	8	12	the	the	DET
fbem-17288	8	13	study	study	NOUN
fbem-17288	8	14	contributes	contribute	VERB
fbem-17288	8	15	to	to	ADP
fbem-17288	8	16	a	a	DET
fbem-17288	8	17	deeper	deep	ADJ
fbem-17288	8	18	understanding	understanding	NOUN
fbem-17288	8	19	of	of	ADP
fbem-17288	8	20	the	the	DET
fbem-17288	8	21	factors	factor	NOUN
fbem-17288	8	22	influencing	influence	VERB
fbem-17288	8	23	the	the	DET
fbem-17288	8	24	scale	scale	NOUN
fbem-17288	8	25	of	of	ADP
fbem-17288	8	26	china	china	PROPN
fbem-17288	8	27	's	's	PART
fbem-17288	8	28	foreign	foreign	ADJ
fbem-17288	8	29	exchange	exchange	NOUN
fbem-17288	8	30	reserves	reserve	NOUN
fbem-17288	8	31	,	,	PUNCT
fbem-17288	8	32	offering	offer	VERB
fbem-17288	8	33	a	a	DET
fbem-17288	8	34	foundation	foundation	NOUN
fbem-17288	8	35	for	for	ADP
fbem-17288	8	36	informed	informed	ADJ
fbem-17288	8	37	decision	decision	NOUN
fbem-17288	8	38	-	-	PUNCT
fbem-17288	8	39	making	making	NOUN
fbem-17288	8	40	in	in	ADP
fbem-17288	8	41	the	the	DET
fbem-17288	8	42	realm	realm	NOUN
fbem-17288	8	43	of	of	ADP
fbem-17288	8	44	international	international	ADJ
fbem-17288	8	45	finance	finance	NOUN
fbem-17288	8	46	and	and	CCONJ
fbem-17288	8	47	trade	trade	NOUN
fbem-17288	8	48	.	.	PUNCT
fbem-17288	9	1	keywords	keyword	NOUN
fbem-17288	9	2	:	:	PUNCT
fbem-17288	9	3	foreign	foreign	ADJ
fbem-17288	9	4	exchange	exchange	NOUN
fbem-17288	9	5	reserves	reserve	NOUN
fbem-17288	9	6	;	;	PUNCT
fbem-17288	9	7	exchange	exchange	NOUN
fbem-17288	9	8	rates	rate	NOUN
fbem-17288	9	9	;	;	PUNCT
fbem-17288	9	10	external	external	ADJ
fbem-17288	9	11	debt	debt	NOUN
fbem-17288	9	12	balance	balance	NOUN
fbem-17288	9	13	;	;	PUNCT
fbem-17288	9	14	total	total	ADJ
fbem-17288	9	15	imports	import	NOUN
fbem-17288	9	16	.	.	PUNCT
fbem-17288	10	1	1	1	X
fbem-17288	10	2	.	.	X
fbem-17288	10	3	introduction	introduction	NOUN
fbem-17288	10	4	foreign	foreign	ADJ
fbem-17288	10	5	exchange	exchange	NOUN
fbem-17288	10	6	reserves	reserve	NOUN
fbem-17288	10	7	,	,	PUNCT
fbem-17288	10	8	also	also	ADV
fbem-17288	10	9	known	know	VERB
fbem-17288	10	10	as	as	ADP
fbem-17288	10	11	forex	forex	ADJ
fbem-17288	10	12	reserves	reserve	NOUN
fbem-17288	10	13	or	or	CCONJ
fbem-17288	10	14	foreign	foreign	ADJ
fbem-17288	10	15	currency	currency	NOUN
fbem-17288	10	16	reserves	reserve	NOUN
fbem-17288	10	17	,	,	PUNCT
fbem-17288	10	18	refer	refer	VERB
fbem-17288	10	19	to	to	ADP
fbem-17288	10	20	the	the	DET
fbem-17288	10	21	foreign	foreign	ADJ
fbem-17288	10	22	currency	currency	NOUN
fbem-17288	10	23	assets	asset	NOUN
fbem-17288	10	24	that	that	PRON
fbem-17288	10	25	central	central	ADJ
fbem-17288	10	26	banks	bank	NOUN
fbem-17288	10	27	and	and	CCONJ
fbem-17288	10	28	other	other	ADJ
fbem-17288	10	29	governmental	governmental	ADJ
fbem-17288	10	30	institutions	institution	NOUN
fbem-17288	10	31	of	of	ADP
fbem-17288	10	32	various	various	ADJ
fbem-17288	10	33	countries	country	NOUN
fbem-17288	10	34	collectively	collectively	ADV
fbem-17288	10	35	hold	hold	VERB
fbem-17288	10	36	to	to	PART
fbem-17288	10	37	meet	meet	VERB
fbem-17288	10	38	international	international	ADJ
fbem-17288	10	39	payment	payment	NOUN
fbem-17288	10	40	needs	need	NOUN
fbem-17288	10	41	.	.	PUNCT
fbem-17288	11	1	foreign	foreign	ADJ
fbem-17288	11	2	exchange	exchange	NOUN
fbem-17288	11	3	reserves	reserve	NOUN
fbem-17288	11	4	are	be	AUX
fbem-17288	11	5	a	a	DET
fbem-17288	11	6	crucial	crucial	ADJ
fbem-17288	11	7	component	component	NOUN
fbem-17288	11	8	of	of	ADP
fbem-17288	11	9	a	a	DET
fbem-17288	11	10	country	country	NOUN
fbem-17288	11	11	's	's	PART
fbem-17288	11	12	official	official	ADJ
fbem-17288	11	13	reserve	reserve	NOUN
fbem-17288	11	14	assets	asset	NOUN
fbem-17288	11	15	.	.	PUNCT
fbem-17288	12	1	since	since	SCONJ
fbem-17288	12	2	the	the	DET
fbem-17288	12	3	implementation	implementation	NOUN
fbem-17288	12	4	of	of	ADP
fbem-17288	12	5	the	the	DET
fbem-17288	12	6	foreign	foreign	ADJ
fbem-17288	12	7	exchange	exchange	NOUN
fbem-17288	12	8	management	management	NOUN
fbem-17288	12	9	system	system	NOUN
fbem-17288	12	10	reform	reform	NOUN
fbem-17288	12	11	by	by	ADP
fbem-17288	12	12	the	the	DET
fbem-17288	12	13	people	people	NOUN
fbem-17288	12	14	's	's	PART
fbem-17288	12	15	bank	bank	PROPN
fbem-17288	12	16	of	of	ADP
fbem-17288	12	17	china	china	PROPN
fbem-17288	12	18	in	in	ADP
fbem-17288	12	19	1994	1994	NUM
fbem-17288	12	20	,	,	PUNCT
fbem-17288	12	21	china	china	PROPN
fbem-17288	12	22	's	's	PART
fbem-17288	12	23	foreign	foreign	ADJ
fbem-17288	12	24	exchange	exchange	NOUN
fbem-17288	12	25	reserves	reserve	NOUN
fbem-17288	12	26	have	have	AUX
fbem-17288	12	27	consistently	consistently	ADV
fbem-17288	12	28	increased	increase	VERB
fbem-17288	12	29	year	year	NOUN
fbem-17288	12	30	after	after	ADP
fbem-17288	12	31	year	year	NOUN
fbem-17288	12	32	.	.	PUNCT
fbem-17288	13	1	starting	start	VERB
fbem-17288	13	2	from	from	ADP
fbem-17288	13	3	$	$	SYM
fbem-17288	13	4	51.62	51.62	NUM
fbem-17288	13	5	billion	billion	NUM
fbem-17288	13	6	in	in	ADP
fbem-17288	13	7	1994	1994	NUM
fbem-17288	13	8	,	,	PUNCT
fbem-17288	13	9	china	china	PROPN
fbem-17288	13	10	's	's	PART
fbem-17288	13	11	foreign	foreign	ADJ
fbem-17288	13	12	exchange	exchange	NOUN
fbem-17288	13	13	reserves	reserve	NOUN
fbem-17288	13	14	surged	surge	VERB
fbem-17288	13	15	to	to	ADP
fbem-17288	13	16	$	$	SYM
fbem-17288	13	17	3,127.7	3,127.7	NUM
fbem-17288	13	18	billion	billion	NUM
fbem-17288	13	19	by	by	ADP
fbem-17288	13	20	2022	2022	NUM
fbem-17288	13	21	,	,	PUNCT
fbem-17288	13	22	representing	represent	VERB
fbem-17288	13	23	a	a	DET
fbem-17288	13	24	several	several	ADJ
fbem-17288	13	25	-	-	PUNCT
fbem-17288	13	26	fold	fold	ADJ
fbem-17288	13	27	expansion	expansion	NOUN
fbem-17288	13	28	.	.	PUNCT
fbem-17288	14	1	in	in	ADP
fbem-17288	14	2	particular	particular	ADJ
fbem-17288	14	3	,	,	PUNCT
fbem-17288	14	4	in	in	ADP
fbem-17288	14	5	2014	2014	NUM
fbem-17288	14	6	,	,	PUNCT
fbem-17288	14	7	china	china	PROPN
fbem-17288	14	8	's	's	PART
fbem-17288	14	9	foreign	foreign	ADJ
fbem-17288	14	10	exchange	exchange	NOUN
fbem-17288	14	11	reserves	reserve	NOUN
fbem-17288	14	12	reached	reach	VERB
fbem-17288	14	13	an	an	DET
fbem-17288	14	14	astonishing	astonishing	ADJ
fbem-17288	14	15	$	$	SYM
fbem-17288	14	16	38,430.18	38,430.18	NUM
fbem-17288	14	17	billion	billion	NUM
fbem-17288	14	18	.	.	PUNCT
fbem-17288	15	1	in	in	ADP
fbem-17288	15	2	recent	recent	ADJ
fbem-17288	15	3	years	year	NOUN
fbem-17288	15	4	,	,	PUNCT
fbem-17288	15	5	china	china	PROPN
fbem-17288	15	6	's	's	PART
fbem-17288	15	7	annual	annual	ADJ
fbem-17288	15	8	foreign	foreign	ADJ
fbem-17288	15	9	exchange	exchange	NOUN
fbem-17288	15	10	reserves	reserve	NOUN
fbem-17288	15	11	have	have	AUX
fbem-17288	15	12	generally	generally	ADV
fbem-17288	15	13	stabilized	stabilize	VERB
fbem-17288	15	14	within	within	ADP
fbem-17288	15	15	the	the	DET
fbem-17288	15	16	range	range	NOUN
fbem-17288	15	17	of	of	ADP
fbem-17288	15	18	$	$	SYM
fbem-17288	15	19	30,000	30,000	NUM
fbem-17288	15	20	to	to	PART
fbem-17288	15	21	$	$	SYM
fbem-17288	15	22	33,000	33,000	NUM
fbem-17288	15	23	billion.this	billion.this	PRON
fbem-17288	15	24	significant	significant	ADJ
fbem-17288	15	25	growth	growth	NOUN
fbem-17288	15	26	in	in	ADP
fbem-17288	15	27	china	china	PROPN
fbem-17288	15	28	's	's	PART
fbem-17288	15	29	foreign	foreign	ADJ
fbem-17288	15	30	exchange	exchange	NOUN
fbem-17288	15	31	reserves	reserve	NOUN
fbem-17288	15	32	highlights	highlight	VERB
fbem-17288	15	33	the	the	DET
fbem-17288	15	34	country	country	NOUN
fbem-17288	15	35	's	's	PART
fbem-17288	15	36	efforts	effort	NOUN
fbem-17288	15	37	to	to	PART
fbem-17288	15	38	strengthen	strengthen	VERB
fbem-17288	15	39	its	its	PRON
fbem-17288	15	40	financial	financial	ADJ
fbem-17288	15	41	position	position	NOUN
fbem-17288	15	42	and	and	CCONJ
fbem-17288	15	43	ability	ability	NOUN
fbem-17288	15	44	to	to	PART
fbem-17288	15	45	address	address	VERB
fbem-17288	15	46	international	international	ADJ
fbem-17288	15	47	payment	payment	NOUN
fbem-17288	15	48	obligations	obligation	NOUN
fbem-17288	15	49	.	.	PUNCT
fbem-17288	16	1	the	the	DET
fbem-17288	16	2	accumulation	accumulation	NOUN
fbem-17288	16	3	of	of	ADP
fbem-17288	16	4	substantial	substantial	ADJ
fbem-17288	16	5	foreign	foreign	ADJ
fbem-17288	16	6	exchange	exchange	NOUN
fbem-17288	16	7	reserves	reserve	NOUN
fbem-17288	16	8	contributes	contribute	VERB
fbem-17288	16	9	to	to	ADP
fbem-17288	16	10	economic	economic	ADJ
fbem-17288	16	11	stability	stability	NOUN
fbem-17288	16	12	and	and	CCONJ
fbem-17288	16	13	provides	provide	VERB
fbem-17288	16	14	a	a	DET
fbem-17288	16	15	buffer	buffer	NOUN
fbem-17288	16	16	against	against	ADP
fbem-17288	16	17	external	external	ADJ
fbem-17288	16	18	financial	financial	ADJ
fbem-17288	16	19	challenges	challenge	NOUN
fbem-17288	16	20	.	.	PUNCT
fbem-17288	17	1	according	accord	VERB
fbem-17288	17	2	to	to	ADP
fbem-17288	17	3	the	the	DET
fbem-17288	17	4	2018	2018	NUM
fbem-17288	17	5	data	datum	NOUN
fbem-17288	17	6	from	from	ADP
fbem-17288	17	7	the	the	DET
fbem-17288	17	8	international	international	ADJ
fbem-17288	17	9	monetary	monetary	ADJ
fbem-17288	17	10	fund	fund	NOUN
fbem-17288	17	11	(	(	PUNCT
fbem-17288	17	12	imf	imf	PROPN
fbem-17288	17	13	)	)	PUNCT
fbem-17288	17	14	,	,	PUNCT
fbem-17288	17	15	china	china	PROPN
fbem-17288	17	16	's	's	PART
fbem-17288	17	17	foreign	foreign	ADJ
fbem-17288	17	18	exchange	exchange	NOUN
fbem-17288	17	19	reserves	reserve	NOUN
fbem-17288	17	20	accounted	account	VERB
fbem-17288	17	21	for	for	ADP
fbem-17288	17	22	nearly	nearly	ADV
fbem-17288	17	23	one	one	NUM
fbem-17288	17	24	-	-	PUNCT
fbem-17288	17	25	third	third	NOUN
fbem-17288	17	26	of	of	ADP
fbem-17288	17	27	the	the	DET
fbem-17288	17	28	global	global	ADJ
fbem-17288	17	29	total	total	NOUN
fbem-17288	17	30	,	,	PUNCT
fbem-17288	17	31	highlighting	highlight	VERB
fbem-17288	17	32	china	china	PROPN
fbem-17288	17	33	's	's	PART
fbem-17288	17	34	significant	significant	ADJ
fbem-17288	17	35	position	position	NOUN
fbem-17288	17	36	in	in	ADP
fbem-17288	17	37	the	the	DET
fbem-17288	17	38	international	international	ADJ
fbem-17288	17	39	financial	financial	ADJ
fbem-17288	17	40	system	system	NOUN
fbem-17288	17	41	.	.	PUNCT
fbem-17288	18	1	the	the	DET
fbem-17288	18	2	question	question	NOUN
fbem-17288	18	3	of	of	ADP
fbem-17288	18	4	the	the	DET
fbem-17288	18	5	advantages	advantage	NOUN
fbem-17288	18	6	and	and	CCONJ
fbem-17288	18	7	disadvantages	disadvantage	NOUN
fbem-17288	18	8	of	of	ADP
fbem-17288	18	9	substantial	substantial	ADJ
fbem-17288	18	10	foreign	foreign	ADJ
fbem-17288	18	11	exchange	exchange	NOUN
fbem-17288	18	12	reserves	reserve	NOUN
fbem-17288	18	13	has	have	AUX
fbem-17288	18	14	been	be	AUX
fbem-17288	18	15	the	the	DET
fbem-17288	18	16	subject	subject	NOUN
fbem-17288	18	17	of	of	ADP
fbem-17288	18	18	widespread	widespread	ADJ
fbem-17288	18	19	discussion	discussion	NOUN
fbem-17288	18	20	among	among	ADP
fbem-17288	18	21	experts	expert	NOUN
fbem-17288	18	22	and	and	CCONJ
fbem-17288	18	23	scholars	scholar	NOUN
fbem-17288	18	24	in	in	ADP
fbem-17288	18	25	recent	recent	ADJ
fbem-17288	18	26	years	year	NOUN
fbem-17288	18	27	,	,	PUNCT
fbem-17288	18	28	indicating	indicate	VERB
fbem-17288	18	29	a	a	DET
fbem-17288	18	30	growing	grow	VERB
fbem-17288	18	31	focus	focus	NOUN
fbem-17288	18	32	on	on	ADP
fbem-17288	18	33	research	research	NOUN
fbem-17288	18	34	regarding	regard	VERB
fbem-17288	18	35	the	the	DET
fbem-17288	18	36	appropriate	appropriate	ADJ
fbem-17288	18	37	scale	scale	NOUN
fbem-17288	18	38	of	of	ADP
fbem-17288	18	39	foreign	foreign	ADJ
fbem-17288	18	40	exchange	exchange	NOUN
fbem-17288	18	41	reserves	reserve	NOUN
fbem-17288	18	42	.	.	PUNCT
fbem-17288	19	1	generally	generally	ADV
fbem-17288	19	2	speaking	speak	VERB
fbem-17288	19	3	,	,	PUNCT
fbem-17288	19	4	foreign	foreign	ADJ
fbem-17288	19	5	exchange	exchange	NOUN
fbem-17288	19	6	reserves	reserve	NOUN
fbem-17288	19	7	serve	serve	VERB
fbem-17288	19	8	multiple	multiple	ADJ
fbem-17288	19	9	functions	function	NOUN
fbem-17288	19	10	,	,	PUNCT
fbem-17288	19	11	including	include	VERB
fbem-17288	19	12	regulating	regulate	VERB
fbem-17288	19	13	international	international	ADJ
fbem-17288	19	14	balance	balance	NOUN
fbem-17288	19	15	of	of	ADP
fbem-17288	19	16	payments	payment	NOUN
fbem-17288	19	17	,	,	PUNCT
fbem-17288	19	18	stabilizing	stabilize	VERB
fbem-17288	19	19	the	the	DET
fbem-17288	19	20	domestic	domestic	ADJ
fbem-17288	19	21	currency	currency	NOUN
fbem-17288	19	22	exchange	exchange	NOUN
fbem-17288	19	23	rate	rate	NOUN
fbem-17288	19	24	,	,	PUNCT
fbem-17288	19	25	enhancing	enhance	VERB
fbem-17288	19	26	financing	financing	NOUN
fbem-17288	19	27	capabilities	capability	NOUN
fbem-17288	19	28	,	,	PUNCT
fbem-17288	19	29	and	and	CCONJ
fbem-17288	19	30	mitigating	mitigate	VERB
fbem-17288	19	31	financial	financial	ADJ
fbem-17288	19	32	risks	risk	NOUN
fbem-17288	19	33	.	.	PUNCT
fbem-17288	20	1	however	however	ADV
fbem-17288	20	2	,	,	PUNCT
fbem-17288	20	3	it	it	PRON
fbem-17288	20	4	is	be	AUX
fbem-17288	20	5	crucial	crucial	ADJ
fbem-17288	20	6	to	to	PART
fbem-17288	20	7	maintain	maintain	VERB
fbem-17288	20	8	stability	stability	NOUN
fbem-17288	20	9	in	in	ADP
fbem-17288	20	10	the	the	DET
fbem-17288	20	11	scale	scale	NOUN
fbem-17288	20	12	of	of	ADP
fbem-17288	20	13	foreign	foreign	ADJ
fbem-17288	20	14	exchange	exchange	NOUN
fbem-17288	20	15	reserves	reserve	NOUN
fbem-17288	20	16	within	within	ADP
fbem-17288	20	17	a	a	DET
fbem-17288	20	18	certain	certain	ADJ
fbem-17288	20	19	range	range	NOUN
fbem-17288	20	20	,	,	PUNCT
fbem-17288	20	21	as	as	SCONJ
fbem-17288	20	22	a	a	DET
fbem-17288	20	23	rapid	rapid	ADJ
fbem-17288	20	24	increase	increase	NOUN
fbem-17288	20	25	in	in	ADP
fbem-17288	20	26	reserves	reserve	NOUN
fbem-17288	20	27	could	could	AUX
fbem-17288	20	28	potentially	potentially	ADV
fbem-17288	20	29	lead	lead	VERB
fbem-17288	20	30	to	to	ADP
fbem-17288	20	31	issues	issue	NOUN
fbem-17288	20	32	such	such	ADJ
fbem-17288	20	33	as	as	ADP
fbem-17288	20	34	inflation	inflation	NOUN
fbem-17288	20	35	.	.	PUNCT
fbem-17288	21	1	therefore	therefore	ADV
fbem-17288	21	2	,	,	PUNCT
fbem-17288	21	3	effective	effective	ADJ
fbem-17288	21	4	management	management	NOUN
fbem-17288	21	5	and	and	CCONJ
fbem-17288	21	6	control	control	NOUN
fbem-17288	21	7	of	of	ADP
fbem-17288	21	8	the	the	DET
fbem-17288	21	9	scale	scale	NOUN
fbem-17288	21	10	of	of	ADP
fbem-17288	21	11	foreign	foreign	ADJ
fbem-17288	21	12	exchange	exchange	NOUN
fbem-17288	21	13	reserves	reserve	NOUN
fbem-17288	21	14	are	be	AUX
fbem-17288	21	15	of	of	ADP
fbem-17288	21	16	paramount	paramount	PROPN
fbem-17288	21	17	importance.as	importance.as	PRON
fbem-17288	21	18	the	the	DET
fbem-17288	21	19	global	global	ADJ
fbem-17288	21	20	economy	economy	NOUN
fbem-17288	21	21	continues	continue	VERB
fbem-17288	21	22	to	to	PART
fbem-17288	21	23	evolve	evolve	VERB
fbem-17288	21	24	and	and	CCONJ
fbem-17288	21	25	financial	financial	ADJ
fbem-17288	21	26	markets	market	NOUN
fbem-17288	21	27	experience	experience	VERB
fbem-17288	21	28	fluctuations	fluctuation	NOUN
fbem-17288	21	29	,	,	PUNCT
fbem-17288	21	30	in	in	ADP
fbem-17288	21	31	-	-	PUNCT
fbem-17288	21	32	depth	depth	NOUN
fbem-17288	21	33	research	research	NOUN
fbem-17288	21	34	on	on	ADP
fbem-17288	21	35	the	the	DET
fbem-17288	21	36	scale	scale	NOUN
fbem-17288	21	37	of	of	ADP
fbem-17288	21	38	foreign	foreign	ADJ
fbem-17288	21	39	exchange	exchange	NOUN
fbem-17288	21	40	reserves	reserve	NOUN
fbem-17288	21	41	will	will	AUX
fbem-17288	21	42	contribute	contribute	VERB
fbem-17288	21	43	to	to	ADP
fbem-17288	21	44	the	the	DET
fbem-17288	21	45	formulation	formulation	NOUN
fbem-17288	21	46	of	of	ADP
fbem-17288	21	47	more	more	ADV
fbem-17288	21	48	scientifically	scientifically	ADV
fbem-17288	21	49	sound	sound	ADJ
fbem-17288	21	50	management	management	NOUN
fbem-17288	21	51	strategies	strategy	NOUN
fbem-17288	21	52	to	to	PART
fbem-17288	21	53	address	address	VERB
fbem-17288	21	54	various	various	ADJ
fbem-17288	21	55	potential	potential	ADJ
fbem-17288	21	56	economic	economic	ADJ
fbem-17288	21	57	challenges	challenge	NOUN
fbem-17288	21	58	.	.	PUNCT
fbem-17288	22	1	against	against	ADP
fbem-17288	22	2	this	this	DET
fbem-17288	22	3	backdrop	backdrop	NOUN
fbem-17288	22	4	,	,	PUNCT
fbem-17288	22	5	strengthening	strengthen	VERB
fbem-17288	22	6	monitoring	monitoring	NOUN
fbem-17288	22	7	,	,	PUNCT
fbem-17288	22	8	analysis	analysis	NOUN
fbem-17288	22	9	,	,	PUNCT
fbem-17288	22	10	and	and	CCONJ
fbem-17288	22	11	adjustments	adjustment	NOUN
fbem-17288	22	12	of	of	ADP
fbem-17288	22	13	foreign	foreign	ADJ
fbem-17288	22	14	exchange	exchange	NOUN
fbem-17288	22	15	reserves	reserve	NOUN
fbem-17288	22	16	becomes	become	VERB
fbem-17288	22	17	a	a	DET
fbem-17288	22	18	crucial	crucial	ADJ
fbem-17288	22	19	element	element	NOUN
fbem-17288	22	20	in	in	ADP
fbem-17288	22	21	ensuring	ensure	VERB
fbem-17288	22	22	the	the	DET
fbem-17288	22	23	robust	robust	ADJ
fbem-17288	22	24	operation	operation	NOUN
fbem-17288	22	25	of	of	ADP
fbem-17288	22	26	a	a	DET
fbem-17288	22	27	country	country	NOUN
fbem-17288	22	28	's	's	PART
fbem-17288	22	29	financial	financial	ADJ
fbem-17288	22	30	system	system	NOUN
fbem-17288	22	31	.	.	PUNCT
fbem-17288	23	1	2	2	X
fbem-17288	23	2	.	.	X
fbem-17288	23	3	literature	literature	NOUN
fbem-17288	23	4	review	review	VERB
fbem-17288	23	5	2.1	2.1	NUM
fbem-17288	23	6	univariate	univariate	ADJ
fbem-17288	23	7	proportion	proportion	NOUN
fbem-17288	23	8	analysis	analysis	NOUN
fbem-17288	23	9	method	method	NOUN
fbem-17288	23	10	and	and	CCONJ
fbem-17288	23	11	ratio	ratio	NOUN
fbem-17288	23	12	analysis	analysis	NOUN
fbem-17288	23	13	method	method	NOUN
fbem-17288	23	14	the	the	DET
fbem-17288	23	15	univariate	univariate	ADJ
fbem-17288	23	16	proportion	proportion	NOUN
fbem-17288	23	17	analysis	analysis	NOUN
fbem-17288	23	18	method	method	NOUN
fbem-17288	23	19	involves	involve	VERB
fbem-17288	23	20	establishing	establish	VERB
fbem-17288	23	21	a	a	DET
fbem-17288	23	22	proportional	proportional	ADJ
fbem-17288	23	23	relationship	relationship	NOUN
fbem-17288	23	24	between	between	ADP
fbem-17288	23	25	foreign	foreign	ADJ
fbem-17288	23	26	exchange	exchange	NOUN
fbem-17288	23	27	reserves	reserve	NOUN
fbem-17288	23	28	and	and	CCONJ
fbem-17288	23	29	an	an	DET
fbem-17288	23	30	economic	economic	ADJ
fbem-17288	23	31	variable	variable	NOUN
fbem-17288	23	32	.	.	PUNCT
fbem-17288	24	1	triffin	triffin	PROPN
fbem-17288	24	2	(	(	PUNCT
fbem-17288	24	3	1960	1960	NUM
fbem-17288	24	4	)	)	PUNCT
fbem-17288	24	5	emphasized	emphasize	VERB
fbem-17288	24	6	the	the	DET
fbem-17288	24	7	connection	connection	NOUN
fbem-17288	24	8	between	between	ADP
fbem-17288	24	9	a	a	DET
fbem-17288	24	10	country	country	NOUN
fbem-17288	24	11	's	's	PART
fbem-17288	24	12	foreign	foreign	ADJ
fbem-17288	24	13	exchange	exchange	NOUN
fbem-17288	24	14	reserves	reserve	NOUN
fbem-17288	24	15	and	and	CCONJ
fbem-17288	24	16	its	its	PRON
fbem-17288	24	17	international	international	ADJ
fbem-17288	24	18	trade	trade	NOUN
fbem-17288	24	19	,	,	PUNCT
fbem-17288	24	20	arguing	argue	VERB
fbem-17288	24	21	that	that	SCONJ
fbem-17288	24	22	these	these	DET
fbem-17288	24	23	reserves	reserve	NOUN
fbem-17288	24	24	should	should	AUX
fbem-17288	24	25	maintain	maintain	VERB
fbem-17288	24	26	a	a	DET
fbem-17288	24	27	certain	certain	ADJ
fbem-17288	24	28	proportion	proportion	NOUN
fbem-17288	24	29	to	to	ADP
fbem-17288	24	30	the	the	DET
fbem-17288	24	31	total	total	ADJ
fbem-17288	24	32	value	value	NOUN
fbem-17288	24	33	of	of	ADP
fbem-17288	24	34	imports	import	NOUN
fbem-17288	24	35	.	.	PUNCT
fbem-17288	25	1	this	this	DET
fbem-17288	25	2	perspective	perspective	NOUN
fbem-17288	25	3	highlights	highlight	VERB
fbem-17288	25	4	the	the	DET
fbem-17288	25	5	role	role	NOUN
fbem-17288	25	6	of	of	ADP
fbem-17288	25	7	foreign	foreign	ADJ
fbem-17288	25	8	exchange	exchange	NOUN
fbem-17288	25	9	reserves	reserve	NOUN
fbem-17288	25	10	in	in	ADP
fbem-17288	25	11	facilitating	facilitate	VERB
fbem-17288	25	12	trade	trade	NOUN
fbem-17288	25	13	and	and	CCONJ
fbem-17288	25	14	managing	manage	VERB
fbem-17288	25	15	economic	economic	ADJ
fbem-17288	25	16	stability	stability	NOUN
fbem-17288	25	17	on	on	ADP
fbem-17288	25	18	the	the	DET
fbem-17288	25	19	international	international	ADJ
fbem-17288	25	20	stage	stage	NOUN
fbem-17288	25	21	.	.	PUNCT
fbem-17288	26	1	frenkel	frenkel	PROPN
fbem-17288	26	2	(	(	PUNCT
fbem-17288	26	3	1974	1974	NUM
fbem-17288	26	4	)	)	PUNCT
fbem-17288	26	5	took	take	VERB
fbem-17288	26	6	a	a	DET
fbem-17288	26	7	different	different	ADJ
fbem-17288	26	8	approach	approach	NOUN
fbem-17288	26	9	by	by	ADP
fbem-17288	26	10	using	use	VERB
fbem-17288	26	11	the	the	DET
fbem-17288	26	12	ratio	ratio	NOUN
fbem-17288	26	13	of	of	ADP
fbem-17288	26	14	foreign	foreign	ADJ
fbem-17288	26	15	exchange	exchange	NOUN
fbem-17288	26	16	reserves	reserve	NOUN
fbem-17288	26	17	to	to	ADP
fbem-17288	26	18	a	a	DET
fbem-17288	26	19	country	country	NOUN
fbem-17288	26	20	's	's	PART
fbem-17288	26	21	broad	broad	ADJ
fbem-17288	26	22	money	money	NOUN
fbem-17288	26	23	supply	supply	NOUN
fbem-17288	26	24	as	as	ADP
fbem-17288	26	25	a	a	DET
fbem-17288	26	26	criterion	criterion	NOUN
fbem-17288	26	27	for	for	ADP
fbem-17288	26	28	assessing	assess	VERB
fbem-17288	26	29	the	the	DET
fbem-17288	26	30	adequacy	adequacy	NOUN
fbem-17288	26	31	of	of	ADP
fbem-17288	26	32	foreign	foreign	ADJ
fbem-17288	26	33	exchange	exchange	NOUN
fbem-17288	26	34	reserves	reserve	NOUN
fbem-17288	26	35	.	.	PUNCT
fbem-17288	27	1	this	this	DET
fbem-17288	27	2	ratio	ratio	NOUN
fbem-17288	27	3	serves	serve	VERB
fbem-17288	27	4	as	as	ADP
fbem-17288	27	5	a	a	DET
fbem-17288	27	6	metric	metric	NOUN
fbem-17288	27	7	to	to	PART
fbem-17288	27	8	evaluate	evaluate	VERB
fbem-17288	27	9	the	the	DET
fbem-17288	27	10	sufficiency	sufficiency	NOUN
fbem-17288	27	11	of	of	ADP
fbem-17288	27	12	reserves	reserve	NOUN
fbem-17288	27	13	relative	relative	ADJ
fbem-17288	27	14	to	to	ADP
fbem-17288	27	15	the	the	DET
fbem-17288	27	16	broader	broad	ADJ
fbem-17288	27	17	monetary	monetary	ADJ
fbem-17288	27	18	context	context	NOUN
fbem-17288	27	19	of	of	ADP
fbem-17288	27	20	a	a	DET
fbem-17288	27	21	nation	nation	NOUN
fbem-17288	27	22	.	.	PUNCT
fbem-17288	28	1	in	in	ADP
fbem-17288	28	2	the	the	DET
fbem-17288	28	3	realm	realm	NOUN
fbem-17288	28	4	of	of	ADP
fbem-17288	28	5	ratio	ratio	NOUN
fbem-17288	28	6	analysis	analysis	NOUN
fbem-17288	28	7	,	,	PUNCT
fbem-17288	28	8	scholars	scholar	NOUN
fbem-17288	28	9	such	such	ADJ
fbem-17288	28	10	as	as	ADP
fbem-17288	28	11	wang	wang	PROPN
fbem-17288	28	12	guolin	guolin	PROPN
fbem-17288	28	13	(	(	PUNCT
fbem-17288	28	14	2001	2001	NUM
fbem-17288	28	15	)	)	PUNCT
fbem-17288	28	16	and	and	CCONJ
fbem-17288	28	17	tan	tan	PROPN
fbem-17288	28	18	mingming	mingming	NOUN
fbem-17288	28	19	(	(	PUNCT
fbem-17288	28	20	2006	2006	NUM
fbem-17288	28	21	)	)	PUNCT
fbem-17288	28	22	conducted	conduct	VERB
fbem-17288	28	23	studies	study	NOUN
fbem-17288	28	24	employing	employ	VERB
fbem-17288	28	25	various	various	ADJ
fbem-17288	28	26	ratios	ratio	NOUN
fbem-17288	28	27	to	to	PART
fbem-17288	28	28	evaluate	evaluate	VERB
fbem-17288	28	29	the	the	DET
fbem-17288	28	30	adequacy	adequacy	NOUN
fbem-17288	28	31	of	of	ADP
fbem-17288	28	32	china	china	PROPN
fbem-17288	28	33	's	's	PART
fbem-17288	28	34	101	101	NUM
fbem-17288	28	35	foreign	foreign	ADJ
fbem-17288	28	36	exchange	exchange	NOUN
fbem-17288	28	37	reserves	reserve	NOUN
fbem-17288	28	38	.	.	PUNCT
fbem-17288	29	1	ratios	ratio	NOUN
fbem-17288	29	2	considered	consider	VERB
fbem-17288	29	3	in	in	ADP
fbem-17288	29	4	these	these	DET
fbem-17288	29	5	studies	study	NOUN
fbem-17288	29	6	include	include	VERB
fbem-17288	29	7	the	the	DET
fbem-17288	29	8	reserve	reserve	VERB
fbem-17288	29	9	-	-	PUNCT
fbem-17288	29	10	to	to	ADP
fbem-17288	29	11	-	-	PUNCT
fbem-17288	29	12	import	import	NOUN
fbem-17288	29	13	ratio	ratio	NOUN
fbem-17288	29	14	,	,	PUNCT
fbem-17288	29	15	reserve	reserve	NOUN
fbem-17288	29	16	-	-	PUNCT
fbem-17288	29	17	to	to	ADP
fbem-17288	29	18	-	-	PUNCT
fbem-17288	29	19	gdp	gdp	NOUN
fbem-17288	29	20	ratio	ratio	NOUN
fbem-17288	29	21	,	,	PUNCT
fbem-17288	29	22	and	and	CCONJ
fbem-17288	29	23	reserve	reserve	NOUN
fbem-17288	29	24	-	-	PUNCT
fbem-17288	29	25	to	to	ADP
fbem-17288	29	26	-	-	PUNCT
fbem-17288	29	27	external	external	ADJ
fbem-17288	29	28	debt	debt	NOUN
fbem-17288	29	29	ratio	ratio	NOUN
fbem-17288	29	30	.	.	PUNCT
fbem-17288	30	1	wang	wang	PROPN
fbem-17288	30	2	guolin	guolin	PROPN
fbem-17288	30	3	concluded	conclude	VERB
fbem-17288	30	4	that	that	SCONJ
fbem-17288	30	5	china	china	PROPN
fbem-17288	30	6	's	's	PART
fbem-17288	30	7	foreign	foreign	ADJ
fbem-17288	30	8	exchange	exchange	NOUN
fbem-17288	30	9	reserves	reserve	NOUN
fbem-17288	30	10	are	be	AUX
fbem-17288	30	11	adequate	adequate	ADJ
fbem-17288	30	12	based	base	VERB
fbem-17288	30	13	on	on	ADP
fbem-17288	30	14	these	these	DET
fbem-17288	30	15	ratios	ratio	NOUN
fbem-17288	30	16	,	,	PUNCT
fbem-17288	30	17	while	while	SCONJ
fbem-17288	30	18	tan	tan	PROPN
fbem-17288	30	19	mingming	mingming	NOUN
fbem-17288	30	20	arrived	arrive	VERB
fbem-17288	30	21	at	at	ADP
fbem-17288	30	22	the	the	DET
fbem-17288	30	23	opposite	opposite	ADJ
fbem-17288	30	24	conclusion	conclusion	NOUN
fbem-17288	30	25	,	,	PUNCT
fbem-17288	30	26	suggesting	suggest	VERB
fbem-17288	30	27	that	that	SCONJ
fbem-17288	30	28	the	the	DET
fbem-17288	30	29	reserve	reserve	NOUN
fbem-17288	30	30	size	size	NOUN
fbem-17288	30	31	is	be	AUX
fbem-17288	30	32	excessive	excessive	ADJ
fbem-17288	30	33	.	.	PUNCT
fbem-17288	31	1	these	these	DET
fbem-17288	31	2	divergent	divergent	ADJ
fbem-17288	31	3	findings	finding	NOUN
fbem-17288	31	4	highlight	highlight	VERB
fbem-17288	31	5	the	the	DET
fbem-17288	31	6	complexity	complexity	NOUN
fbem-17288	31	7	and	and	CCONJ
fbem-17288	31	8	subjectivity	subjectivity	NOUN
fbem-17288	31	9	involved	involve	VERB
fbem-17288	31	10	in	in	ADP
fbem-17288	31	11	determining	determine	VERB
fbem-17288	31	12	the	the	DET
fbem-17288	31	13	adequacy	adequacy	NOUN
fbem-17288	31	14	of	of	ADP
fbem-17288	31	15	foreign	foreign	ADJ
fbem-17288	31	16	exchange	exchange	NOUN
fbem-17288	31	17	reserves	reserve	NOUN
fbem-17288	31	18	using	use	VERB
fbem-17288	31	19	ratio	ratio	NOUN
fbem-17288	31	20	analysis	analysis	NOUN
fbem-17288	31	21	.	.	PUNCT
fbem-17288	32	1	zhang	zhang	PROPN
fbem-17288	32	2	ming	ming	PROPN
fbem-17288	32	3	(	(	PUNCT
fbem-17288	32	4	2018	2018	NUM
fbem-17288	32	5	)	)	PUNCT
fbem-17288	32	6	took	take	VERB
fbem-17288	32	7	a	a	DET
fbem-17288	32	8	comprehensive	comprehensive	ADJ
fbem-17288	32	9	approach	approach	NOUN
fbem-17288	32	10	by	by	ADP
fbem-17288	32	11	calculating	calculate	VERB
fbem-17288	32	12	the	the	DET
fbem-17288	32	13	most	most	ADV
fbem-17288	32	14	suitable	suitable	ADJ
fbem-17288	32	15	level	level	NOUN
fbem-17288	32	16	of	of	ADP
fbem-17288	32	17	foreign	foreign	ADJ
fbem-17288	32	18	exchange	exchange	NOUN
fbem-17288	32	19	reserves	reserve	NOUN
fbem-17288	32	20	for	for	ADP
fbem-17288	32	21	china	china	PROPN
fbem-17288	32	22	based	base	VERB
fbem-17288	32	23	on	on	ADP
fbem-17288	32	24	the	the	DET
fbem-17288	32	25	matrix	matrix	NOUN
fbem-17288	32	26	model	model	NOUN
fbem-17288	32	27	developed	develop	VERB
fbem-17288	32	28	by	by	ADP
fbem-17288	32	29	the	the	DET
fbem-17288	32	30	international	international	ADJ
fbem-17288	32	31	monetary	monetary	ADJ
fbem-17288	32	32	fund	fund	NOUN
fbem-17288	32	33	(	(	PUNCT
fbem-17288	32	34	imf	imf	PROPN
fbem-17288	32	35	)	)	PUNCT
fbem-17288	32	36	.	.	PUNCT
fbem-17288	33	1	this	this	DET
fbem-17288	33	2	model	model	NOUN
fbem-17288	33	3	incorporated	incorporate	VERB
fbem-17288	33	4	four	four	NUM
fbem-17288	33	5	key	key	ADJ
fbem-17288	33	6	variables	variable	NOUN
fbem-17288	33	7	:	:	PUNCT
fbem-17288	33	8	short	short	ADJ
fbem-17288	33	9	-	-	PUNCT
fbem-17288	33	10	term	term	NOUN
fbem-17288	33	11	external	external	ADJ
fbem-17288	33	12	debt	debt	NOUN
fbem-17288	33	13	balance	balance	NOUN
fbem-17288	33	14	,	,	PUNCT
fbem-17288	33	15	securities	security	NOUN
fbem-17288	33	16	investment	investment	NOUN
fbem-17288	33	17	liability	liability	NOUN
fbem-17288	33	18	balance	balance	NOUN
fbem-17288	33	19	,	,	PUNCT
fbem-17288	33	20	broad	broad	ADJ
fbem-17288	33	21	money	money	NOUN
fbem-17288	33	22	balance	balance	NOUN
fbem-17288	33	23	,	,	PUNCT
fbem-17288	33	24	and	and	CCONJ
fbem-17288	33	25	export	export	NOUN
fbem-17288	33	26	volume	volume	NOUN
fbem-17288	33	27	.	.	PUNCT
fbem-17288	34	1	different	different	ADJ
fbem-17288	34	2	factor	factor	NOUN
fbem-17288	34	3	coefficients	coefficient	NOUN
fbem-17288	34	4	were	be	AUX
fbem-17288	34	5	assigned	assign	VERB
fbem-17288	34	6	to	to	ADP
fbem-17288	34	7	these	these	DET
fbem-17288	34	8	variables	variable	NOUN
fbem-17288	34	9	under	under	ADP
fbem-17288	34	10	fixed	fix	VERB
fbem-17288	34	11	and	and	CCONJ
fbem-17288	34	12	floating	float	VERB
fbem-17288	34	13	exchange	exchange	NOUN
fbem-17288	34	14	rate	rate	NOUN
fbem-17288	34	15	regimes	regime	NOUN
fbem-17288	34	16	.	.	PUNCT
fbem-17288	35	1	the	the	DET
fbem-17288	35	2	model	model	NOUN
fbem-17288	35	3	aimed	aim	VERB
fbem-17288	35	4	to	to	PART
fbem-17288	35	5	determine	determine	VERB
fbem-17288	35	6	the	the	DET
fbem-17288	35	7	optimal	optimal	ADJ
fbem-17288	35	8	foreign	foreign	ADJ
fbem-17288	35	9	exchange	exchange	NOUN
fbem-17288	35	10	reserve	reserve	NOUN
fbem-17288	35	11	level	level	NOUN
fbem-17288	35	12	for	for	ADP
fbem-17288	35	13	china	china	PROPN
fbem-17288	35	14	under	under	ADP
fbem-17288	35	15	both	both	DET
fbem-17288	35	16	exchange	exchange	NOUN
fbem-17288	35	17	rate	rate	NOUN
fbem-17288	35	18	systems	system	NOUN
fbem-17288	35	19	,	,	PUNCT
fbem-17288	35	20	providing	provide	VERB
fbem-17288	35	21	a	a	DET
fbem-17288	35	22	nuanced	nuanced	ADJ
fbem-17288	35	23	perspective	perspective	NOUN
fbem-17288	35	24	on	on	ADP
fbem-17288	35	25	reserve	reserve	NOUN
fbem-17288	35	26	adequacy	adequacy	NOUN
fbem-17288	35	27	that	that	PRON
fbem-17288	35	28	considers	consider	VERB
fbem-17288	35	29	various	various	ADJ
fbem-17288	35	30	economic	economic	ADJ
fbem-17288	35	31	factors	factor	NOUN
fbem-17288	35	32	.	.	PUNCT
fbem-17288	36	1	in	in	ADP
fbem-17288	36	2	summary	summary	NOUN
fbem-17288	36	3	,	,	PUNCT
fbem-17288	36	4	the	the	DET
fbem-17288	36	5	univariate	univariate	ADJ
fbem-17288	36	6	proportion	proportion	NOUN
fbem-17288	36	7	analysis	analysis	NOUN
fbem-17288	36	8	method	method	NOUN
fbem-17288	36	9	,	,	PUNCT
fbem-17288	36	10	ratio	ratio	NOUN
fbem-17288	36	11	analysis	analysis	NOUN
fbem-17288	36	12	,	,	PUNCT
fbem-17288	36	13	and	and	CCONJ
fbem-17288	36	14	the	the	DET
fbem-17288	36	15	matrix	matrix	NOUN
fbem-17288	36	16	model	model	NOUN
fbem-17288	36	17	developed	develop	VERB
fbem-17288	36	18	by	by	ADP
fbem-17288	36	19	the	the	DET
fbem-17288	36	20	imf	imf	PROPN
fbem-17288	36	21	offer	offer	VERB
fbem-17288	36	22	diverse	diverse	ADJ
fbem-17288	36	23	approaches	approach	NOUN
fbem-17288	36	24	to	to	ADP
fbem-17288	36	25	assessing	assess	VERB
fbem-17288	36	26	the	the	DET
fbem-17288	36	27	adequacy	adequacy	NOUN
fbem-17288	36	28	of	of	ADP
fbem-17288	36	29	foreign	foreign	ADJ
fbem-17288	36	30	exchange	exchange	NOUN
fbem-17288	36	31	reserves	reserve	NOUN
fbem-17288	36	32	.	.	PUNCT
fbem-17288	37	1	these	these	DET
fbem-17288	37	2	methods	method	NOUN
fbem-17288	37	3	take	take	VERB
fbem-17288	37	4	into	into	ADP
fbem-17288	37	5	account	account	NOUN
fbem-17288	37	6	different	different	ADJ
fbem-17288	37	7	economic	economic	ADJ
fbem-17288	37	8	variables	variable	NOUN
fbem-17288	37	9	and	and	CCONJ
fbem-17288	37	10	ratios	ratio	NOUN
fbem-17288	37	11	,	,	PUNCT
fbem-17288	37	12	reflecting	reflect	VERB
fbem-17288	37	13	the	the	DET
fbem-17288	37	14	multifaceted	multifaceted	ADJ
fbem-17288	37	15	nature	nature	NOUN
fbem-17288	37	16	of	of	ADP
fbem-17288	37	17	evaluating	evaluate	VERB
fbem-17288	37	18	and	and	CCONJ
fbem-17288	37	19	optimizing	optimize	VERB
fbem-17288	37	20	a	a	DET
fbem-17288	37	21	country	country	NOUN
fbem-17288	37	22	's	's	PART
fbem-17288	37	23	foreign	foreign	ADJ
fbem-17288	37	24	exchange	exchange	NOUN
fbem-17288	37	25	reserve	reserve	NOUN
fbem-17288	37	26	levels	level	NOUN
fbem-17288	37	27	.	.	PUNCT
fbem-17288	38	1	2.2	2.2	NUM
fbem-17288	38	2	regression	regression	NOUN
fbem-17288	38	3	analysis	analysis	NOUN
fbem-17288	38	4	method	method	NOUN
fbem-17288	38	5	the	the	DET
fbem-17288	38	6	regression	regression	NOUN
fbem-17288	38	7	analysis	analysis	NOUN
fbem-17288	38	8	method	method	NOUN
fbem-17288	38	9	,	,	PUNCT
fbem-17288	38	10	particularly	particularly	ADV
fbem-17288	38	11	through	through	ADP
fbem-17288	38	12	multiple	multiple	ADJ
fbem-17288	38	13	regressions	regression	NOUN
fbem-17288	38	14	,	,	PUNCT
fbem-17288	38	15	serves	serve	VERB
fbem-17288	38	16	as	as	ADP
fbem-17288	38	17	a	a	DET
fbem-17288	38	18	powerful	powerful	ADJ
fbem-17288	38	19	tool	tool	NOUN
fbem-17288	38	20	for	for	ADP
fbem-17288	38	21	exploring	explore	VERB
fbem-17288	38	22	relationships	relationship	NOUN
fbem-17288	38	23	between	between	ADP
fbem-17288	38	24	variables	variable	NOUN
fbem-17288	38	25	in	in	ADP
fbem-17288	38	26	a	a	DET
fbem-17288	38	27	multivariate	multivariate	NOUN
fbem-17288	38	28	context	context	NOUN
fbem-17288	38	29	.	.	PUNCT
fbem-17288	39	1	this	this	DET
fbem-17288	39	2	analytical	analytical	ADJ
fbem-17288	39	3	approach	approach	NOUN
fbem-17288	39	4	has	have	AUX
fbem-17288	39	5	been	be	AUX
fbem-17288	39	6	widely	widely	ADV
fbem-17288	39	7	employed	employ	VERB
fbem-17288	39	8	in	in	ADP
fbem-17288	39	9	studies	study	NOUN
fbem-17288	39	10	related	relate	VERB
fbem-17288	39	11	to	to	ADP
fbem-17288	39	12	foreign	foreign	ADJ
fbem-17288	39	13	exchange	exchange	NOUN
fbem-17288	39	14	reserves	reserve	NOUN
fbem-17288	39	15	,	,	PUNCT
fbem-17288	39	16	with	with	ADP
fbem-17288	39	17	notable	notable	ADJ
fbem-17288	39	18	examples	example	NOUN
fbem-17288	39	19	including	include	VERB
fbem-17288	39	20	research	research	NOUN
fbem-17288	39	21	by	by	ADP
fbem-17288	39	22	lane	lane	NOUN
fbem-17288	39	23	and	and	CCONJ
fbem-17288	39	24	burke	burke	PROPN
fbem-17288	39	25	(	(	PUNCT
fbem-17288	39	26	2001	2001	NUM
fbem-17288	39	27	)	)	PUNCT
fbem-17288	39	28	and	and	CCONJ
fbem-17288	39	29	aizenman	aizenman	NOUN
fbem-17288	39	30	and	and	CCONJ
fbem-17288	39	31	marion	marion	PROPN
fbem-17288	39	32	(	(	PUNCT
fbem-17288	39	33	2002	2002	NUM
fbem-17288	39	34	)	)	PUNCT
fbem-17288	39	35	.	.	PUNCT
fbem-17288	40	1	these	these	DET
fbem-17288	40	2	studies	study	NOUN
fbem-17288	40	3	utilize	utilize	VERB
fbem-17288	40	4	regression	regression	NOUN
fbem-17288	40	5	analysis	analysis	NOUN
fbem-17288	40	6	to	to	PART
fbem-17288	40	7	investigate	investigate	VERB
fbem-17288	40	8	various	various	ADJ
fbem-17288	40	9	factors	factor	NOUN
fbem-17288	40	10	that	that	PRON
fbem-17288	40	11	influence	influence	VERB
fbem-17288	40	12	the	the	DET
fbem-17288	40	13	dynamics	dynamic	NOUN
fbem-17288	40	14	of	of	ADP
fbem-17288	40	15	foreign	foreign	ADJ
fbem-17288	40	16	exchange	exchange	NOUN
fbem-17288	40	17	reserves	reserve	NOUN
fbem-17288	40	18	.	.	PUNCT
fbem-17288	41	1	the	the	DET
fbem-17288	41	2	variables	variable	NOUN
fbem-17288	41	3	considered	consider	VERB
fbem-17288	41	4	in	in	ADP
fbem-17288	41	5	such	such	ADJ
fbem-17288	41	6	analyses	analysis	NOUN
fbem-17288	41	7	span	span	VERB
fbem-17288	41	8	a	a	DET
fbem-17288	41	9	range	range	NOUN
fbem-17288	41	10	of	of	ADP
fbem-17288	41	11	categories	category	NOUN
fbem-17288	41	12	,	,	PUNCT
fbem-17288	41	13	encompassing	encompass	VERB
fbem-17288	41	14	import	import	NOUN
fbem-17288	41	15	and	and	CCONJ
fbem-17288	41	16	export	export	NOUN
fbem-17288	41	17	volumes	volume	NOUN
fbem-17288	41	18	,	,	PUNCT
fbem-17288	41	19	monetary	monetary	ADJ
fbem-17288	41	20	policy	policy	NOUN
fbem-17288	41	21	measures	measure	NOUN
fbem-17288	41	22	,	,	PUNCT
fbem-17288	41	23	economic	economic	ADJ
fbem-17288	41	24	size	size	NOUN
fbem-17288	41	25	,	,	PUNCT
fbem-17288	41	26	exchange	exchange	NOUN
fbem-17288	41	27	rate	rate	NOUN
fbem-17288	41	28	variables	variable	NOUN
fbem-17288	41	29	,	,	PUNCT
fbem-17288	41	30	and	and	CCONJ
fbem-17288	41	31	more	more	ADJ
fbem-17288	41	32	.	.	PUNCT
fbem-17288	42	1	for	for	ADP
fbem-17288	42	2	instance	instance	NOUN
fbem-17288	42	3	,	,	PUNCT
fbem-17288	42	4	zhang	zhang	PROPN
fbem-17288	42	5	yu	yu	PROPN
fbem-17288	42	6	(	(	PUNCT
fbem-17288	42	7	2014	2014	NUM
fbem-17288	42	8	)	)	PUNCT
fbem-17288	42	9	undertook	undertake	VERB
fbem-17288	42	10	an	an	DET
fbem-17288	42	11	estimation	estimation	NOUN
fbem-17288	42	12	of	of	ADP
fbem-17288	42	13	the	the	DET
fbem-17288	42	14	appropriate	appropriate	ADJ
fbem-17288	42	15	level	level	NOUN
fbem-17288	42	16	of	of	ADP
fbem-17288	42	17	china	china	PROPN
fbem-17288	42	18	's	's	PART
fbem-17288	42	19	foreign	foreign	ADJ
fbem-17288	42	20	exchange	exchange	NOUN
fbem-17288	42	21	reserves	reserve	NOUN
fbem-17288	42	22	using	use	VERB
fbem-17288	42	23	a	a	DET
fbem-17288	42	24	regression	regression	NOUN
fbem-17288	42	25	model	model	NOUN
fbem-17288	42	26	.	.	PUNCT
fbem-17288	43	1	in	in	ADP
fbem-17288	43	2	this	this	DET
fbem-17288	43	3	model	model	NOUN
fbem-17288	43	4	,	,	PUNCT
fbem-17288	43	5	three	three	NUM
fbem-17288	43	6	key	key	ADJ
fbem-17288	43	7	variables	variable	NOUN
fbem-17288	43	8	were	be	AUX
fbem-17288	43	9	considered	consider	VERB
fbem-17288	43	10	:	:	PUNCT
fbem-17288	43	11	the	the	DET
fbem-17288	43	12	difference	difference	NOUN
fbem-17288	43	13	between	between	ADP
fbem-17288	43	14	foreign	foreign	ADJ
fbem-17288	43	15	exchange	exchange	NOUN
fbem-17288	43	16	reserves	reserve	NOUN
fbem-17288	43	17	and	and	CCONJ
fbem-17288	43	18	imports	import	NOUN
fbem-17288	43	19	,	,	PUNCT
fbem-17288	43	20	gross	gross	ADJ
fbem-17288	43	21	domestic	domestic	ADJ
fbem-17288	43	22	product	product	NOUN
fbem-17288	43	23	(	(	PUNCT
fbem-17288	43	24	gdp	gdp	NOUN
fbem-17288	43	25	)	)	PUNCT
fbem-17288	43	26	,	,	PUNCT
fbem-17288	43	27	and	and	CCONJ
fbem-17288	43	28	exchange	exchange	NOUN
fbem-17288	43	29	rates	rate	NOUN
fbem-17288	43	30	.	.	PUNCT
fbem-17288	44	1	by	by	ADP
fbem-17288	44	2	employing	employ	VERB
fbem-17288	44	3	regression	regression	NOUN
fbem-17288	44	4	analysis	analysis	NOUN
fbem-17288	44	5	,	,	PUNCT
fbem-17288	44	6	zhang	zhang	PROPN
fbem-17288	44	7	yu	yu	PROPN
fbem-17288	44	8	aimed	aim	VERB
fbem-17288	44	9	to	to	PART
fbem-17288	44	10	discern	discern	VERB
fbem-17288	44	11	the	the	DET
fbem-17288	44	12	relationships	relationship	NOUN
fbem-17288	44	13	and	and	CCONJ
fbem-17288	44	14	dependencies	dependency	NOUN
fbem-17288	44	15	among	among	ADP
fbem-17288	44	16	these	these	DET
fbem-17288	44	17	variables	variable	NOUN
fbem-17288	44	18	,	,	PUNCT
fbem-17288	44	19	providing	provide	VERB
fbem-17288	44	20	insights	insight	NOUN
fbem-17288	44	21	into	into	ADP
fbem-17288	44	22	the	the	DET
fbem-17288	44	23	determinants	determinant	NOUN
fbem-17288	44	24	of	of	ADP
fbem-17288	44	25	china	china	PROPN
fbem-17288	44	26	's	's	PART
fbem-17288	44	27	foreign	foreign	PROPN
fbem-17288	44	28	exchange	exchange	NOUN
fbem-17288	44	29	reserve	reserve	NOUN
fbem-17288	44	30	levels	level	NOUN
fbem-17288	44	31	.	.	PUNCT
fbem-17288	45	1	in	in	ADP
fbem-17288	45	2	another	another	DET
fbem-17288	45	3	example	example	NOUN
fbem-17288	45	4	,	,	PUNCT
fbem-17288	45	5	liu	liu	PROPN
fbem-17288	45	6	yixin	yixin	PROPN
fbem-17288	45	7	and	and	CCONJ
fbem-17288	45	8	ma	ma	PROPN
fbem-17288	45	9	shaokang	shaokang	PROPN
fbem-17288	45	10	(	(	PUNCT
fbem-17288	45	11	2019	2019	NUM
fbem-17288	45	12	)	)	PUNCT
fbem-17288	45	13	took	take	VERB
fbem-17288	45	14	a	a	DET
fbem-17288	45	15	nuanced	nuanced	ADJ
fbem-17288	45	16	approach	approach	NOUN
fbem-17288	45	17	based	base	VERB
fbem-17288	45	18	on	on	ADP
fbem-17288	45	19	the	the	DET
fbem-17288	45	20	motivations	motivation	NOUN
fbem-17288	45	21	for	for	ADP
fbem-17288	45	22	holding	hold	VERB
fbem-17288	45	23	foreign	foreign	ADJ
fbem-17288	45	24	exchange	exchange	NOUN
fbem-17288	45	25	reserves	reserve	NOUN
fbem-17288	45	26	.	.	PUNCT
fbem-17288	46	1	they	they	PRON
fbem-17288	46	2	selected	select	VERB
fbem-17288	46	3	three	three	NUM
fbem-17288	46	4	specific	specific	ADJ
fbem-17288	46	5	variables	variable	NOUN
fbem-17288	46	6	—	—	PUNCT
fbem-17288	46	7	import	import	NOUN
fbem-17288	46	8	volume	volume	NOUN
fbem-17288	46	9	,	,	PUNCT
fbem-17288	46	10	external	external	ADJ
fbem-17288	46	11	debt	debt	NOUN
fbem-17288	46	12	balance	balance	NOUN
fbem-17288	46	13	,	,	PUNCT
fbem-17288	46	14	and	and	CCONJ
fbem-17288	46	15	the	the	DET
fbem-17288	46	16	rmb	rmb	NOUN
fbem-17288	46	17	to	to	ADP
fbem-17288	46	18	usd	usd	NOUN
fbem-17288	46	19	exchange	exchange	NOUN
fbem-17288	46	20	rate	rate	NOUN
fbem-17288	46	21	—	—	PUNCT
fbem-17288	46	22	and	and	CCONJ
fbem-17288	46	23	constructed	construct	VERB
fbem-17288	46	24	a	a	DET
fbem-17288	46	25	var	var	NOUN
fbem-17288	46	26	(	(	PUNCT
fbem-17288	46	27	vector	vector	NOUN
fbem-17288	46	28	auto	auto	NOUN
fbem-17288	46	29	regression	regression	NOUN
fbem-17288	46	30	)	)	PUNCT
fbem-17288	46	31	model	model	NOUN
fbem-17288	46	32	.	.	PUNCT
fbem-17288	47	1	this	this	DET
fbem-17288	47	2	sophisticated	sophisticated	ADJ
fbem-17288	47	3	modeling	modeling	NOUN
fbem-17288	47	4	technique	technique	NOUN
fbem-17288	47	5	allowed	allow	VERB
fbem-17288	47	6	them	they	PRON
fbem-17288	47	7	to	to	PART
fbem-17288	47	8	capture	capture	VERB
fbem-17288	47	9	the	the	DET
fbem-17288	47	10	interdependencies	interdependency	NOUN
fbem-17288	47	11	and	and	CCONJ
fbem-17288	47	12	interactions	interaction	NOUN
fbem-17288	47	13	among	among	ADP
fbem-17288	47	14	the	the	DET
fbem-17288	47	15	selected	select	VERB
fbem-17288	47	16	variables	variable	NOUN
fbem-17288	47	17	.	.	PUNCT
fbem-17288	48	1	additionally	additionally	ADV
fbem-17288	48	2	,	,	PUNCT
fbem-17288	48	3	cointegration	cointegration	NOUN
fbem-17288	48	4	tests	test	NOUN
fbem-17288	48	5	were	be	AUX
fbem-17288	48	6	applied	apply	VERB
fbem-17288	48	7	to	to	PART
fbem-17288	48	8	study	study	VERB
fbem-17288	48	9	both	both	CCONJ
fbem-17288	48	10	the	the	DET
fbem-17288	48	11	long	long	ADJ
fbem-17288	48	12	-	-	PUNCT
fbem-17288	48	13	term	term	NOUN
fbem-17288	48	14	equilibrium	equilibrium	NOUN
fbem-17288	48	15	relationship	relationship	NOUN
fbem-17288	48	16	and	and	CCONJ
fbem-17288	48	17	short	short	ADJ
fbem-17288	48	18	-	-	PUNCT
fbem-17288	48	19	term	term	NOUN
fbem-17288	48	20	fluctuation	fluctuation	NOUN
fbem-17288	48	21	relationship	relationship	NOUN
fbem-17288	48	22	between	between	ADP
fbem-17288	48	23	foreign	foreign	ADJ
fbem-17288	48	24	exchange	exchange	NOUN
fbem-17288	48	25	reserves	reserve	NOUN
fbem-17288	48	26	and	and	CCONJ
fbem-17288	48	27	the	the	DET
fbem-17288	48	28	chosen	choose	VERB
fbem-17288	48	29	factors	factor	NOUN
fbem-17288	48	30	.	.	PUNCT
fbem-17288	49	1	the	the	DET
fbem-17288	49	2	research	research	NOUN
fbem-17288	49	3	conducted	conduct	VERB
fbem-17288	49	4	by	by	ADP
fbem-17288	49	5	liu	liu	PROPN
fbem-17288	49	6	yixin	yixin	PROPN
fbem-17288	49	7	and	and	CCONJ
fbem-17288	49	8	ma	ma	PROPN
fbem-17288	49	9	shaokang	shaokang	PROPN
fbem-17288	49	10	delves	delve	VERB
fbem-17288	49	11	into	into	ADP
fbem-17288	49	12	the	the	DET
fbem-17288	49	13	impact	impact	NOUN
fbem-17288	49	14	of	of	ADP
fbem-17288	49	15	these	these	DET
fbem-17288	49	16	three	three	NUM
fbem-17288	49	17	factors	factor	NOUN
fbem-17288	49	18	on	on	ADP
fbem-17288	49	19	the	the	DET
fbem-17288	49	20	size	size	NOUN
fbem-17288	49	21	of	of	ADP
fbem-17288	49	22	china	china	PROPN
fbem-17288	49	23	's	's	PART
fbem-17288	49	24	foreign	foreign	ADJ
fbem-17288	49	25	exchange	exchange	NOUN
fbem-17288	49	26	reserves	reserve	NOUN
fbem-17288	49	27	.	.	PUNCT
fbem-17288	50	1	by	by	ADP
fbem-17288	50	2	utilizing	utilize	VERB
fbem-17288	50	3	advanced	advanced	ADJ
fbem-17288	50	4	econometric	econometric	ADJ
fbem-17288	50	5	methods	method	NOUN
fbem-17288	50	6	like	like	ADP
fbem-17288	50	7	var	var	NOUN
fbem-17288	50	8	models	model	NOUN
fbem-17288	50	9	and	and	CCONJ
fbem-17288	50	10	cointegration	cointegration	NOUN
fbem-17288	50	11	tests	test	NOUN
fbem-17288	50	12	,	,	PUNCT
fbem-17288	50	13	the	the	DET
fbem-17288	50	14	study	study	NOUN
fbem-17288	50	15	goes	go	VERB
fbem-17288	50	16	beyond	beyond	ADP
fbem-17288	50	17	simple	simple	ADJ
fbem-17288	50	18	correlations	correlation	NOUN
fbem-17288	50	19	and	and	CCONJ
fbem-17288	50	20	strives	strive	VERB
fbem-17288	50	21	to	to	PART
fbem-17288	50	22	uncover	uncover	VERB
fbem-17288	50	23	the	the	DET
fbem-17288	50	24	underlying	underlie	VERB
fbem-17288	50	25	dynamics	dynamic	NOUN
fbem-17288	50	26	and	and	CCONJ
fbem-17288	50	27	causal	causal	ADJ
fbem-17288	50	28	relationships	relationship	NOUN
fbem-17288	50	29	shaping	shape	VERB
fbem-17288	50	30	the	the	DET
fbem-17288	50	31	fluctuations	fluctuation	NOUN
fbem-17288	50	32	in	in	ADP
fbem-17288	50	33	china	china	PROPN
fbem-17288	50	34	's	's	PART
fbem-17288	50	35	foreign	foreign	ADJ
fbem-17288	50	36	exchange	exchange	NOUN
fbem-17288	50	37	reserves	reserve	NOUN
fbem-17288	50	38	.	.	PUNCT
fbem-17288	51	1	this	this	PRON
fbem-17288	51	2	demonstrates	demonstrate	VERB
fbem-17288	51	3	the	the	DET
fbem-17288	51	4	versatility	versatility	NOUN
fbem-17288	51	5	of	of	ADP
fbem-17288	51	6	regression	regression	NOUN
fbem-17288	51	7	analysis	analysis	NOUN
fbem-17288	51	8	in	in	ADP
fbem-17288	51	9	addressing	address	VERB
fbem-17288	51	10	complex	complex	ADJ
fbem-17288	51	11	economic	economic	ADJ
fbem-17288	51	12	questions	question	NOUN
fbem-17288	51	13	and	and	CCONJ
fbem-17288	51	14	providing	provide	VERB
fbem-17288	51	15	a	a	DET
fbem-17288	51	16	deeper	deep	ADJ
fbem-17288	51	17	understanding	understanding	NOUN
fbem-17288	51	18	of	of	ADP
fbem-17288	51	19	the	the	DET
fbem-17288	51	20	factors	factor	NOUN
fbem-17288	51	21	influencing	influence	VERB
fbem-17288	51	22	the	the	DET
fbem-17288	51	23	management	management	NOUN
fbem-17288	51	24	of	of	ADP
fbem-17288	51	25	foreign	foreign	ADJ
fbem-17288	51	26	exchange	exchange	NOUN
fbem-17288	51	27	reserves	reserve	NOUN
fbem-17288	51	28	.	.	PUNCT
fbem-17288	52	1	2.3	2.3	NUM
fbem-17288	52	2	cost	cost	NOUN
fbem-17288	52	3	-	-	PUNCT
fbem-17288	52	4	benefit	benefit	NOUN
fbem-17288	52	5	analysis	analysis	NOUN
fbem-17288	52	6	method	method	NOUN
fbem-17288	52	7	the	the	DET
fbem-17288	52	8	cost	cost	NOUN
fbem-17288	52	9	-	-	PUNCT
fbem-17288	52	10	benefit	benefit	NOUN
fbem-17288	52	11	analysis	analysis	NOUN
fbem-17288	52	12	method	method	NOUN
fbem-17288	52	13	,	,	PUNCT
fbem-17288	52	14	when	when	SCONJ
fbem-17288	52	15	viewed	view	VERB
fbem-17288	52	16	through	through	ADP
fbem-17288	52	17	the	the	DET
fbem-17288	52	18	lens	lens	NOUN
fbem-17288	52	19	of	of	ADP
fbem-17288	52	20	equilibrium	equilibrium	NOUN
fbem-17288	52	21	theory	theory	NOUN
fbem-17288	52	22	,	,	PUNCT
fbem-17288	52	23	has	have	AUX
fbem-17288	52	24	been	be	AUX
fbem-17288	52	25	a	a	DET
fbem-17288	52	26	subject	subject	NOUN
fbem-17288	52	27	of	of	ADP
fbem-17288	52	28	extensive	extensive	ADJ
fbem-17288	52	29	exploration	exploration	NOUN
fbem-17288	52	30	,	,	PUNCT
fbem-17288	52	31	particularly	particularly	ADV
fbem-17288	52	32	in	in	ADP
fbem-17288	52	33	the	the	DET
fbem-17288	52	34	context	context	NOUN
fbem-17288	52	35	of	of	ADP
fbem-17288	52	36	developing	develop	VERB
fbem-17288	52	37	countries	country	NOUN
fbem-17288	52	38	.	.	PUNCT
fbem-17288	53	1	a	a	DET
fbem-17288	53	2	seminal	seminal	ADJ
fbem-17288	53	3	contribution	contribution	NOUN
fbem-17288	53	4	to	to	ADP
fbem-17288	53	5	this	this	DET
fbem-17288	53	6	field	field	NOUN
fbem-17288	53	7	was	be	AUX
fbem-17288	53	8	made	make	VERB
fbem-17288	53	9	by	by	ADP
fbem-17288	53	10	agarwal	agarwal	PROPN
fbem-17288	53	11	in	in	ADP
fbem-17288	53	12	1971	1971	NUM
fbem-17288	53	13	,	,	PUNCT
fbem-17288	53	14	who	who	PRON
fbem-17288	53	15	delved	delve	VERB
fbem-17288	53	16	into	into	ADP
fbem-17288	53	17	the	the	DET
fbem-17288	53	18	fundamental	fundamental	ADJ
fbem-17288	53	19	conditions	condition	NOUN
fbem-17288	53	20	of	of	ADP
fbem-17288	53	21	developing	develop	VERB
fbem-17288	53	22	nations	nation	NOUN
fbem-17288	53	23	and	and	CCONJ
fbem-17288	53	24	formulated	formulate	VERB
fbem-17288	53	25	a	a	DET
fbem-17288	53	26	model	model	NOUN
fbem-17288	53	27	tailored	tailor	VERB
fbem-17288	53	28	to	to	ADP
fbem-17288	53	29	their	their	PRON
fbem-17288	53	30	specific	specific	ADJ
fbem-17288	53	31	circumstances	circumstance	NOUN
fbem-17288	53	32	.	.	PUNCT
fbem-17288	54	1	the	the	DET
fbem-17288	54	2	crux	crux	NOUN
fbem-17288	54	3	of	of	ADP
fbem-17288	54	4	the	the	DET
fbem-17288	54	5	cost	cost	NOUN
fbem-17288	54	6	-	-	PUNCT
fbem-17288	54	7	benefit	benefit	NOUN
fbem-17288	54	8	analysis	analysis	NOUN
fbem-17288	54	9	method	method	NOUN
fbem-17288	54	10	lies	lie	VERB
fbem-17288	54	11	in	in	ADP
fbem-17288	54	12	its	its	PRON
fbem-17288	54	13	assertion	assertion	NOUN
fbem-17288	54	14	that	that	SCONJ
fbem-17288	54	15	a	a	DET
fbem-17288	54	16	country	country	NOUN
fbem-17288	54	17	maintaining	maintain	VERB
fbem-17288	54	18	a	a	DET
fbem-17288	54	19	certain	certain	ADJ
fbem-17288	54	20	level	level	NOUN
fbem-17288	54	21	of	of	ADP
fbem-17288	54	22	foreign	foreign	ADJ
fbem-17288	54	23	exchange	exchange	NOUN
fbem-17288	54	24	reserves	reserve	NOUN
fbem-17288	54	25	experiences	experience	VERB
fbem-17288	54	26	both	both	DET
fbem-17288	54	27	advantages	advantage	NOUN
fbem-17288	54	28	and	and	CCONJ
fbem-17288	54	29	drawbacks	drawback	NOUN
fbem-17288	54	30	.	.	PUNCT
fbem-17288	55	1	the	the	DET
fbem-17288	55	2	benefits	benefit	NOUN
fbem-17288	55	3	,	,	PUNCT
fbem-17288	55	4	as	as	SCONJ
fbem-17288	55	5	elucidated	elucidate	VERB
fbem-17288	55	6	by	by	ADP
fbem-17288	55	7	this	this	DET
fbem-17288	55	8	method	method	NOUN
fbem-17288	55	9	,	,	PUNCT
fbem-17288	55	10	predominantly	predominantly	ADV
fbem-17288	55	11	revolve	revolve	VERB
fbem-17288	55	12	around	around	ADP
fbem-17288	55	13	the	the	DET
fbem-17288	55	14	preventive	preventive	ADJ
fbem-17288	55	15	function	function	NOUN
fbem-17288	55	16	of	of	ADP
fbem-17288	55	17	foreign	foreign	ADJ
fbem-17288	55	18	exchange	exchange	NOUN
fbem-17288	55	19	reserves	reserve	NOUN
fbem-17288	55	20	.	.	PUNCT
fbem-17288	56	1	these	these	DET
fbem-17288	56	2	reserves	reserve	NOUN
fbem-17288	56	3	act	act	VERB
fbem-17288	56	4	as	as	ADP
fbem-17288	56	5	a	a	DET
fbem-17288	56	6	bulwark	bulwark	NOUN
fbem-17288	56	7	,	,	PUNCT
fbem-17288	56	8	safeguarding	safeguard	VERB
fbem-17288	56	9	the	the	DET
fbem-17288	56	10	country	country	NOUN
fbem-17288	56	11	against	against	ADP
fbem-17288	56	12	potential	potential	ADJ
fbem-17288	56	13	economic	economic	ADJ
fbem-17288	56	14	vulnerabilities	vulnerability	NOUN
fbem-17288	56	15	and	and	CCONJ
fbem-17288	56	16	external	external	ADJ
fbem-17288	56	17	shocks	shock	NOUN
fbem-17288	56	18	.	.	PUNCT
fbem-17288	57	1	the	the	DET
fbem-17288	57	2	preventive	preventive	ADJ
fbem-17288	57	3	role	role	NOUN
fbem-17288	57	4	becomes	become	VERB
fbem-17288	57	5	especially	especially	ADV
fbem-17288	57	6	crucial	crucial	ADJ
fbem-17288	57	7	in	in	ADP
fbem-17288	57	8	the	the	DET
fbem-17288	57	9	context	context	NOUN
fbem-17288	57	10	of	of	ADP
fbem-17288	57	11	developing	develop	VERB
fbem-17288	57	12	nations	nation	NOUN
fbem-17288	57	13	,	,	PUNCT
fbem-17288	57	14	where	where	SCONJ
fbem-17288	57	15	economic	economic	ADJ
fbem-17288	57	16	stability	stability	NOUN
fbem-17288	57	17	is	be	AUX
fbem-17288	57	18	often	often	ADV
fbem-17288	57	19	more	more	ADV
fbem-17288	57	20	susceptible	susceptible	ADJ
fbem-17288	57	21	to	to	ADP
fbem-17288	57	22	external	external	ADJ
fbem-17288	57	23	pressures	pressure	NOUN
fbem-17288	57	24	.	.	PUNCT
fbem-17288	58	1	conversely	conversely	ADV
fbem-17288	58	2	,	,	PUNCT
fbem-17288	58	3	the	the	DET
fbem-17288	58	4	costs	cost	NOUN
fbem-17288	58	5	incurred	incur	VERB
fbem-17288	58	6	by	by	ADP
fbem-17288	58	7	a	a	DET
fbem-17288	58	8	country	country	NOUN
fbem-17288	58	9	in	in	ADP
fbem-17288	58	10	holding	hold	VERB
fbem-17288	58	11	foreign	foreign	ADJ
fbem-17288	58	12	exchange	exchange	NOUN
fbem-17288	58	13	reserves	reserve	NOUN
fbem-17288	58	14	are	be	AUX
fbem-17288	58	15	primarily	primarily	ADV
fbem-17288	58	16	associated	associate	VERB
fbem-17288	58	17	with	with	ADP
fbem-17288	58	18	the	the	DET
fbem-17288	58	19	opportunity	opportunity	NOUN
fbem-17288	58	20	cost	cost	NOUN
fbem-17288	58	21	.	.	PUNCT
fbem-17288	59	1	this	this	PRON
fbem-17288	59	2	implies	imply	VERB
fbem-17288	59	3	that	that	SCONJ
fbem-17288	59	4	the	the	DET
fbem-17288	59	5	funds	fund	NOUN
fbem-17288	59	6	tied	tie	VERB
fbem-17288	59	7	up	up	ADP
fbem-17288	59	8	in	in	ADP
fbem-17288	59	9	reserves	reserve	NOUN
fbem-17288	59	10	could	could	AUX
fbem-17288	59	11	potentially	potentially	ADV
fbem-17288	59	12	have	have	AUX
fbem-17288	59	13	been	be	AUX
fbem-17288	59	14	used	use	VERB
fbem-17288	59	15	for	for	ADP
fbem-17288	59	16	alternative	alternative	ADJ
fbem-17288	59	17	investment	investment	NOUN
fbem-17288	59	18	opportunities	opportunity	NOUN
fbem-17288	59	19	that	that	PRON
fbem-17288	59	20	may	may	AUX
fbem-17288	59	21	yield	yield	VERB
fbem-17288	59	22	higher	high	ADJ
fbem-17288	59	23	returns	return	NOUN
fbem-17288	59	24	.	.	PUNCT
fbem-17288	60	1	the	the	DET
fbem-17288	60	2	concept	concept	NOUN
fbem-17288	60	3	of	of	ADP
fbem-17288	60	4	opportunity	opportunity	NOUN
fbem-17288	60	5	cost	cost	NOUN
fbem-17288	60	6	underscores	underscore	VERB
fbem-17288	60	7	the	the	DET
fbem-17288	60	8	trade	trade	NOUN
fbem-17288	60	9	-	-	PUNCT
fbem-17288	60	10	off	off	NOUN
fbem-17288	60	11	involved	involve	VERB
fbem-17288	60	12	in	in	ADP
fbem-17288	60	13	maintaining	maintain	VERB
fbem-17288	60	14	a	a	DET
fbem-17288	60	15	substantial	substantial	ADJ
fbem-17288	60	16	reserve	reserve	NOUN
fbem-17288	60	17	position	position	NOUN
fbem-17288	60	18	.	.	PUNCT
fbem-17288	61	1	a	a	DET
fbem-17288	61	2	notable	notable	ADJ
fbem-17288	61	3	advancement	advancement	NOUN
fbem-17288	61	4	in	in	ADP
fbem-17288	61	5	this	this	DET
fbem-17288	61	6	line	line	NOUN
fbem-17288	61	7	of	of	ADP
fbem-17288	61	8	thought	thought	NOUN
fbem-17288	61	9	comes	come	VERB
fbem-17288	61	10	from	from	ADP
fbem-17288	61	11	frenkel	frenkel	NOUN
fbem-17288	61	12	and	and	CCONJ
fbem-17288	61	13	jovanovic	jovanovic	PROPN
fbem-17288	61	14	(	(	PUNCT
fbem-17288	61	15	1980	1980	NUM
fbem-17288	61	16	)	)	PUNCT
fbem-17288	61	17	,	,	PUNCT
fbem-17288	61	18	who	who	PRON
fbem-17288	61	19	introduced	introduce	VERB
fbem-17288	61	20	a	a	DET
fbem-17288	61	21	novel	novel	ADJ
fbem-17288	61	22	model	model	NOUN
fbem-17288	61	23	challenging	challenge	VERB
fbem-17288	61	24	the	the	DET
fbem-17288	61	25	conventional	conventional	ADJ
fbem-17288	61	26	view	view	NOUN
fbem-17288	61	27	.	.	PUNCT
fbem-17288	62	1	their	their	PRON
fbem-17288	62	2	proposition	proposition	NOUN
fbem-17288	62	3	suggests	suggest	VERB
fbem-17288	62	4	that	that	SCONJ
fbem-17288	62	5	foreign	foreign	ADJ
fbem-17288	62	6	exchange	exchange	NOUN
fbem-17288	62	7	reserves	reserve	NOUN
fbem-17288	62	8	serve	serve	VERB
fbem-17288	62	9	not	not	PART
fbem-17288	62	10	only	only	ADV
fbem-17288	62	11	as	as	ADP
fbem-17288	62	12	a	a	DET
fbem-17288	62	13	tool	tool	NOUN
fbem-17288	62	14	for	for	ADP
fbem-17288	62	15	adjusting	adjust	VERB
fbem-17288	62	16	the	the	DET
fbem-17288	62	17	balance	balance	NOUN
fbem-17288	62	18	of	of	ADP
fbem-17288	62	19	international	international	ADJ
fbem-17288	62	20	payments	payment	NOUN
fbem-17288	62	21	but	but	CCONJ
fbem-17288	62	22	,	,	PUNCT
fbem-17288	62	23	more	more	ADV
fbem-17288	62	24	importantly	importantly	ADV
fbem-17288	62	25	,	,	PUNCT
fbem-17288	62	26	as	as	ADP
fbem-17288	62	27	a	a	DET
fbem-17288	62	28	proactive	proactive	ADJ
fbem-17288	62	29	mechanism	mechanism	NOUN
fbem-17288	62	30	to	to	PART
fbem-17288	62	31	prevent	prevent	VERB
fbem-17288	62	32	abnormal	abnormal	ADJ
fbem-17288	62	33	fluctuations	fluctuation	NOUN
fbem-17288	62	34	in	in	ADP
fbem-17288	62	35	the	the	DET
fbem-17288	62	36	said	say	VERB
fbem-17288	62	37	balance	balance	NOUN
fbem-17288	62	38	.	.	PUNCT
fbem-17288	63	1	this	this	DET
fbem-17288	63	2	perspective	perspective	NOUN
fbem-17288	63	3	adds	add	VERB
fbem-17288	63	4	a	a	DET
fbem-17288	63	5	dynamic	dynamic	ADJ
fbem-17288	63	6	dimension	dimension	NOUN
fbem-17288	63	7	to	to	ADP
fbem-17288	63	8	the	the	DET
fbem-17288	63	9	role	role	NOUN
fbem-17288	63	10	of	of	ADP
fbem-17288	63	11	reserves	reserve	NOUN
fbem-17288	63	12	,	,	PUNCT
fbem-17288	63	13	emphasizing	emphasize	VERB
fbem-17288	63	14	their	their	PRON
fbem-17288	63	15	anticipatory	anticipatory	ADJ
fbem-17288	63	16	function	function	NOUN
fbem-17288	63	17	in	in	ADP
fbem-17288	63	18	averting	avert	VERB
fbem-17288	63	19	potential	potential	ADJ
fbem-17288	63	20	economic	economic	ADJ
fbem-17288	63	21	imbalances	imbalance	NOUN
fbem-17288	63	22	.	.	PUNCT
fbem-17288	64	1	according	accord	VERB
fbem-17288	64	2	to	to	ADP
fbem-17288	64	3	the	the	DET
fbem-17288	64	4	cost	cost	NOUN
fbem-17288	64	5	-	-	PUNCT
fbem-17288	64	6	benefit	benefit	NOUN
fbem-17288	64	7	analysis	analysis	NOUN
fbem-17288	64	8	method	method	NOUN
fbem-17288	64	9	,	,	PUNCT
fbem-17288	64	10	the	the	DET
fbem-17288	64	11	optimal	optimal	ADJ
fbem-17288	64	12	level	level	NOUN
fbem-17288	64	13	of	of	ADP
fbem-17288	64	14	foreign	foreign	ADJ
fbem-17288	64	15	exchange	exchange	NOUN
fbem-17288	64	16	reserves	reserve	NOUN
fbem-17288	64	17	is	be	AUX
fbem-17288	64	18	reached	reach	VERB
fbem-17288	64	19	when	when	SCONJ
fbem-17288	64	20	the	the	DET
fbem-17288	64	21	benefits	benefit	NOUN
fbem-17288	64	22	derived	derive	VERB
fbem-17288	64	23	from	from	ADP
fbem-17288	64	24	holding	hold	VERB
fbem-17288	64	25	them	they	PRON
fbem-17288	64	26	align	align	VERB
fbem-17288	64	27	with	with	ADP
fbem-17288	64	28	the	the	DET
fbem-17288	64	29	opportunity	opportunity	NOUN
fbem-17288	64	30	cost	cost	NOUN
fbem-17288	64	31	incurred	incur	VERB
fbem-17288	64	32	.	.	PUNCT
fbem-17288	65	1	striking	strike	VERB
fbem-17288	65	2	this	this	DET
fbem-17288	65	3	equilibrium	equilibrium	NOUN
fbem-17288	65	4	is	be	AUX
fbem-17288	65	5	essential	essential	ADJ
fbem-17288	65	6	for	for	SCONJ
fbem-17288	65	7	a	a	DET
fbem-17288	65	8	country	country	NOUN
fbem-17288	65	9	to	to	PART
fbem-17288	65	10	maximize	maximize	VERB
fbem-17288	65	11	the	the	DET
fbem-17288	65	12	advantages	advantage	NOUN
fbem-17288	65	13	of	of	ADP
fbem-17288	65	14	its	its	PRON
fbem-17288	65	15	reserve	reserve	NOUN
fbem-17288	65	16	holdings	holding	NOUN
fbem-17288	65	17	while	while	SCONJ
fbem-17288	65	18	minimizing	minimize	VERB
fbem-17288	65	19	the	the	DET
fbem-17288	65	20	associated	associated	ADJ
fbem-17288	65	21	costs	cost	NOUN
fbem-17288	65	22	.	.	PUNCT
fbem-17288	66	1	this	this	DET
fbem-17288	66	2	nuanced	nuanced	ADJ
fbem-17288	66	3	approach	approach	NOUN
fbem-17288	66	4	to	to	ADP
fbem-17288	66	5	analyzing	analyze	VERB
fbem-17288	66	6	foreign	foreign	ADJ
fbem-17288	66	7	exchange	exchange	NOUN
fbem-17288	66	8	reserves	reserve	NOUN
fbem-17288	66	9	provides	provide	VERB
fbem-17288	66	10	valuable	valuable	ADJ
fbem-17288	66	11	insights	insight	NOUN
fbem-17288	66	12	into	into	ADP
fbem-17288	66	13	their	their	PRON
fbem-17288	66	14	multifaceted	multifaceted	ADJ
fbem-17288	66	15	role	role	NOUN
fbem-17288	66	16	in	in	ADP
fbem-17288	66	17	shaping	shape	VERB
fbem-17288	66	18	a	a	DET
fbem-17288	66	19	nation	nation	NOUN
fbem-17288	66	20	's	's	PART
fbem-17288	66	21	economic	economic	ADJ
fbem-17288	66	22	resilience	resilience	NOUN
fbem-17288	66	23	and	and	CCONJ
fbem-17288	66	24	stability	stability	NOUN
fbem-17288	66	25	.	.	PUNCT
fbem-17288	67	1	2.4	2.4	NUM
fbem-17288	67	2	summary	summary	NOUN
fbem-17288	67	3	since	since	SCONJ
fbem-17288	67	4	the	the	DET
fbem-17288	67	5	1960s	1960	NOUN
fbem-17288	67	6	,	,	PUNCT
fbem-17288	67	7	scholars	scholar	NOUN
fbem-17288	67	8	have	have	AUX
fbem-17288	67	9	put	put	VERB
fbem-17288	67	10	forward	forward	ADV
fbem-17288	67	11	various	various	ADJ
fbem-17288	67	12	propositions	proposition	NOUN
fbem-17288	67	13	regarding	regard	VERB
fbem-17288	67	14	the	the	DET
fbem-17288	67	15	optimal	optimal	ADJ
fbem-17288	67	16	size	size	NOUN
fbem-17288	67	17	of	of	ADP
fbem-17288	67	18	foreign	foreign	ADJ
fbem-17288	67	19	exchange	exchange	NOUN
fbem-17288	67	20	reserves	reserve	NOUN
fbem-17288	67	21	,	,	PUNCT
fbem-17288	67	22	including	include	VERB
fbem-17288	67	23	methods	method	NOUN
fbem-17288	67	24	such	such	ADJ
fbem-17288	67	25	as	as	ADP
fbem-17288	67	26	ratio	ratio	NOUN
fbem-17288	67	27	analysis	analysis	NOUN
fbem-17288	67	28	,	,	PUNCT
fbem-17288	67	29	regression	regression	VERB
fbem-17288	67	30	analysis	analysis	NOUN
fbem-17288	67	31	,	,	PUNCT
fbem-17288	67	32	cost	cost	NOUN
fbem-17288	67	33	-	-	PUNCT
fbem-17288	67	34	benefit	benefit	NOUN
fbem-17288	67	35	analysis	analysis	NOUN
fbem-17288	67	36	,	,	PUNCT
fbem-17288	67	37	and	and	CCONJ
fbem-17288	67	38	so	so	ADV
fbem-17288	67	39	on	on	ADV
fbem-17288	67	40	.	.	PUNCT
fbem-17288	68	1	in	in	ADP
fbem-17288	68	2	china	china	PROPN
fbem-17288	68	3	,	,	PUNCT
fbem-17288	68	4	scholars	scholar	NOUN
fbem-17288	68	5	have	have	AUX
fbem-17288	68	6	primarily	primarily	ADV
fbem-17288	68	7	conducted	conduct	VERB
fbem-17288	68	8	empirical	empirical	ADJ
fbem-17288	68	9	research	research	NOUN
fbem-17288	68	10	on	on	ADP
fbem-17288	68	11	the	the	DET
fbem-17288	68	12	determinants	determinant	NOUN
fbem-17288	68	13	of	of	ADP
fbem-17288	68	14	the	the	DET
fbem-17288	68	15	size	size	NOUN
fbem-17288	68	16	of	of	ADP
fbem-17288	68	17	foreign	foreign	ADJ
fbem-17288	68	18	exchange	exchange	NOUN
fbem-17288	68	19	reserves	reserve	NOUN
fbem-17288	68	20	based	base	VERB
fbem-17288	68	21	on	on	ADP
fbem-17288	68	22	existing	exist	VERB
fbem-17288	68	23	foreign	foreign	ADJ
fbem-17288	68	24	literature	literature	NOUN
fbem-17288	68	25	and	and	CCONJ
fbem-17288	68	26	theories	theory	NOUN
fbem-17288	68	27	,	,	PUNCT
fbem-17288	68	28	adapting	adapt	VERB
fbem-17288	68	29	them	they	PRON
fbem-17288	68	30	to	to	ADP
fbem-17288	68	31	102	102	NUM
fbem-17288	68	32	the	the	DET
fbem-17288	68	33	specific	specific	ADJ
fbem-17288	68	34	conditions	condition	NOUN
fbem-17288	68	35	of	of	ADP
fbem-17288	68	36	china	china	PROPN
fbem-17288	68	37	.	.	PUNCT
fbem-17288	69	1	although	although	SCONJ
fbem-17288	69	2	there	there	PRON
fbem-17288	69	3	is	be	VERB
fbem-17288	69	4	currently	currently	ADV
fbem-17288	69	5	no	no	DET
fbem-17288	69	6	universally	universally	ADV
fbem-17288	69	7	standardized	standardized	ADJ
fbem-17288	69	8	definition	definition	NOUN
fbem-17288	69	9	for	for	ADP
fbem-17288	69	10	the	the	DET
fbem-17288	69	11	optimal	optimal	ADJ
fbem-17288	69	12	size	size	NOUN
fbem-17288	69	13	of	of	ADP
fbem-17288	69	14	foreign	foreign	ADJ
fbem-17288	69	15	exchange	exchange	NOUN
fbem-17288	69	16	reserves	reserve	NOUN
fbem-17288	69	17	internationally	internationally	ADV
fbem-17288	69	18	,	,	PUNCT
fbem-17288	69	19	and	and	CCONJ
fbem-17288	69	20	there	there	PRON
fbem-17288	69	21	is	be	VERB
fbem-17288	69	22	no	no	DET
fbem-17288	69	23	consensus	consensus	NOUN
fbem-17288	69	24	on	on	ADP
fbem-17288	69	25	how	how	SCONJ
fbem-17288	69	26	to	to	PART
fbem-17288	69	27	measure	measure	VERB
fbem-17288	69	28	it	it	PRON
fbem-17288	69	29	,	,	PUNCT
fbem-17288	69	30	over	over	ADP
fbem-17288	69	31	the	the	DET
fbem-17288	69	32	past	past	ADJ
fbem-17288	69	33	few	few	ADJ
fbem-17288	69	34	decades	decade	NOUN
fbem-17288	69	35	,	,	PUNCT
fbem-17288	69	36	scholars	scholar	NOUN
fbem-17288	69	37	have	have	AUX
fbem-17288	69	38	identified	identify	VERB
fbem-17288	69	39	many	many	ADJ
fbem-17288	69	40	factors	factor	NOUN
fbem-17288	69	41	influencing	influence	VERB
fbem-17288	69	42	the	the	DET
fbem-17288	69	43	size	size	NOUN
fbem-17288	69	44	of	of	ADP
fbem-17288	69	45	foreign	foreign	ADJ
fbem-17288	69	46	exchange	exchange	NOUN
fbem-17288	69	47	reserves	reserve	NOUN
fbem-17288	69	48	,	,	PUNCT
fbem-17288	69	49	providing	provide	VERB
fbem-17288	69	50	guidance	guidance	NOUN
fbem-17288	69	51	for	for	ADP
fbem-17288	69	52	the	the	DET
fbem-17288	69	53	management	management	NOUN
fbem-17288	69	54	of	of	ADP
fbem-17288	69	55	the	the	DET
fbem-17288	69	56	optimal	optimal	ADJ
fbem-17288	69	57	size	size	NOUN
fbem-17288	69	58	.	.	PUNCT
fbem-17288	70	1	in	in	ADP
fbem-17288	70	2	summary	summary	NOUN
fbem-17288	70	3	,	,	PUNCT
fbem-17288	70	4	existing	exist	VERB
fbem-17288	70	5	literature	literature	NOUN
fbem-17288	70	6	has	have	AUX
fbem-17288	70	7	inspired	inspire	VERB
fbem-17288	70	8	the	the	DET
fbem-17288	70	9	selection	selection	NOUN
fbem-17288	70	10	of	of	ADP
fbem-17288	70	11	macroeconomic	macroeconomic	ADJ
fbem-17288	70	12	factors	factor	NOUN
fbem-17288	70	13	in	in	ADP
fbem-17288	70	14	this	this	DET
fbem-17288	70	15	study	study	NOUN
fbem-17288	70	16	to	to	PART
fbem-17288	70	17	serve	serve	VERB
fbem-17288	70	18	as	as	ADP
fbem-17288	70	19	explanatory	explanatory	ADJ
fbem-17288	70	20	variables	variable	NOUN
fbem-17288	70	21	.	.	PUNCT
fbem-17288	71	1	the	the	DET
fbem-17288	71	2	main	main	ADJ
fbem-17288	71	3	focus	focus	NOUN
fbem-17288	71	4	of	of	ADP
fbem-17288	71	5	this	this	DET
fbem-17288	71	6	study	study	NOUN
fbem-17288	71	7	is	be	AUX
fbem-17288	71	8	to	to	PART
fbem-17288	71	9	construct	construct	VERB
fbem-17288	71	10	a	a	DET
fbem-17288	71	11	var	var	NOUN
fbem-17288	71	12	model	model	NOUN
fbem-17288	71	13	,	,	PUNCT
fbem-17288	71	14	conduct	conduct	VERB
fbem-17288	71	15	cointegration	cointegration	NOUN
fbem-17288	71	16	tests	test	NOUN
fbem-17288	71	17	,	,	PUNCT
fbem-17288	71	18	analyze	analyze	VERB
fbem-17288	71	19	the	the	DET
fbem-17288	71	20	dynamic	dynamic	ADJ
fbem-17288	71	21	relationships	relationship	NOUN
fbem-17288	71	22	between	between	ADP
fbem-17288	71	23	some	some	DET
fbem-17288	71	24	macroeconomic	macroeconomic	ADJ
fbem-17288	71	25	variables	variable	NOUN
fbem-17288	71	26	,	,	PUNCT
fbem-17288	71	27	and	and	CCONJ
fbem-17288	71	28	discuss	discuss	VERB
fbem-17288	71	29	the	the	DET
fbem-17288	71	30	impact	impact	NOUN
fbem-17288	71	31	of	of	ADP
fbem-17288	71	32	various	various	ADJ
fbem-17288	71	33	variables	variable	NOUN
fbem-17288	71	34	on	on	ADP
fbem-17288	71	35	the	the	DET
fbem-17288	71	36	optimal	optimal	ADJ
fbem-17288	71	37	size	size	NOUN
fbem-17288	71	38	of	of	ADP
fbem-17288	71	39	china	china	PROPN
fbem-17288	71	40	's	's	PART
fbem-17288	71	41	foreign	foreign	ADJ
fbem-17288	71	42	exchange	exchange	NOUN
fbem-17288	71	43	reserves	reserve	NOUN
fbem-17288	71	44	.	.	PUNCT
fbem-17288	72	1	3	3	X
fbem-17288	72	2	.	.	X
fbem-17288	72	3	data	datum	NOUN
fbem-17288	72	4	collection	collection	NOUN
fbem-17288	72	5	and	and	CCONJ
fbem-17288	72	6	empirical	empirical	ADJ
fbem-17288	72	7	analysis	analysis	NOUN
fbem-17288	72	8	this	this	DET
fbem-17288	72	9	paper	paper	NOUN
fbem-17288	72	10	employs	employ	VERB
fbem-17288	72	11	cointegration	cointegration	NOUN
fbem-17288	72	12	theory	theory	NOUN
fbem-17288	72	13	,	,	PUNCT
fbem-17288	72	14	constructs	construct	VERB
fbem-17288	72	15	a	a	DET
fbem-17288	72	16	var	var	NOUN
fbem-17288	72	17	model	model	NOUN
fbem-17288	72	18	,	,	PUNCT
fbem-17288	72	19	and	and	CCONJ
fbem-17288	72	20	analyzes	analyze	VERB
fbem-17288	72	21	the	the	DET
fbem-17288	72	22	factors	factor	NOUN
fbem-17288	72	23	influencing	influence	VERB
fbem-17288	72	24	the	the	DET
fbem-17288	72	25	optimal	optimal	ADJ
fbem-17288	72	26	size	size	NOUN
fbem-17288	72	27	of	of	ADP
fbem-17288	72	28	foreign	foreign	ADJ
fbem-17288	72	29	exchange	exchange	NOUN
fbem-17288	72	30	reserves	reserve	NOUN
fbem-17288	72	31	.	.	PUNCT
fbem-17288	73	1	considering	consider	VERB
fbem-17288	73	2	the	the	DET
fbem-17288	73	3	availability	availability	NOUN
fbem-17288	73	4	of	of	ADP
fbem-17288	73	5	data	datum	NOUN
fbem-17288	73	6	and	and	CCONJ
fbem-17288	73	7	sample	sample	NOUN
fbem-17288	73	8	size	size	NOUN
fbem-17288	73	9	requirements	requirement	NOUN
fbem-17288	73	10	,	,	PUNCT
fbem-17288	73	11	the	the	DET
fbem-17288	73	12	sample	sample	NOUN
fbem-17288	73	13	range	range	NOUN
fbem-17288	73	14	selected	select	VERB
fbem-17288	73	15	for	for	ADP
fbem-17288	73	16	this	this	DET
fbem-17288	73	17	study	study	NOUN
fbem-17288	73	18	is	be	AUX
fbem-17288	73	19	the	the	DET
fbem-17288	73	20	annual	annual	ADJ
fbem-17288	73	21	macroeconomic	macroeconomic	ADJ
fbem-17288	73	22	data	datum	NOUN
fbem-17288	73	23	of	of	ADP
fbem-17288	73	24	china	china	PROPN
fbem-17288	73	25	from	from	ADP
fbem-17288	73	26	1985	1985	NUM
fbem-17288	73	27	to	to	ADP
fbem-17288	73	28	2021	2021	NUM
fbem-17288	73	29	.	.	PUNCT
fbem-17288	74	1	all	all	DET
fbem-17288	74	2	data	datum	NOUN
fbem-17288	74	3	are	be	AUX
fbem-17288	74	4	sourced	source	VERB
fbem-17288	74	5	from	from	ADP
fbem-17288	74	6	the	the	DET
fbem-17288	74	7	official	official	ADJ
fbem-17288	74	8	website	website	NOUN
fbem-17288	74	9	of	of	ADP
fbem-17288	74	10	the	the	DET
fbem-17288	74	11	national	national	PROPN
fbem-17288	74	12	bureau	bureau	PROPN
fbem-17288	74	13	of	of	ADP
fbem-17288	74	14	statistics	statistic	NOUN
fbem-17288	74	15	of	of	ADP
fbem-17288	74	16	china	china	PROPN
fbem-17288	74	17	.	.	PUNCT
fbem-17288	75	1	3.1	3.1	NUM
fbem-17288	75	2	variable	variable	ADJ
fbem-17288	75	3	selection	selection	NOUN
fbem-17288	75	4	the	the	DET
fbem-17288	75	5	paper	paper	NOUN
fbem-17288	75	6	adopts	adopt	VERB
fbem-17288	75	7	a	a	DET
fbem-17288	75	8	comprehensive	comprehensive	ADJ
fbem-17288	75	9	approach	approach	NOUN
fbem-17288	75	10	to	to	PART
fbem-17288	75	11	measure	measure	VERB
fbem-17288	75	12	the	the	DET
fbem-17288	75	13	size	size	NOUN
fbem-17288	75	14	of	of	ADP
fbem-17288	75	15	china	china	PROPN
fbem-17288	75	16	's	's	PART
fbem-17288	75	17	foreign	foreign	ADJ
fbem-17288	75	18	exchange	exchange	NOUN
fbem-17288	75	19	reserves	reserve	NOUN
fbem-17288	75	20	(	(	PUNCT
fbem-17288	75	21	fr	fr	NOUN
fbem-17288	75	22	)	)	PUNCT
fbem-17288	75	23	by	by	ADP
fbem-17288	75	24	selecting	select	VERB
fbem-17288	75	25	three	three	NUM
fbem-17288	75	26	key	key	ADJ
fbem-17288	75	27	indicators	indicator	NOUN
fbem-17288	75	28	:	:	PUNCT
fbem-17288	75	29	the	the	DET
fbem-17288	75	30	chinese	chinese	PROPN
fbem-17288	75	31	yuan	yuan	PROPN
fbem-17288	75	32	to	to	ADP
fbem-17288	75	33	us	us	PROPN
fbem-17288	75	34	dollar	dollar	NOUN
fbem-17288	75	35	exchange	exchange	NOUN
fbem-17288	75	36	rate	rate	NOUN
fbem-17288	75	37	(	(	PUNCT
fbem-17288	75	38	er	er	INTJ
fbem-17288	75	39	)	)	PUNCT
fbem-17288	75	40	,	,	PUNCT
fbem-17288	75	41	foreign	foreign	ADJ
fbem-17288	75	42	debt	debt	NOUN
fbem-17288	75	43	balance	balance	NOUN
fbem-17288	75	44	(	(	PUNCT
fbem-17288	75	45	fd	fd	PROPN
fbem-17288	75	46	)	)	PUNCT
fbem-17288	75	47	,	,	PUNCT
fbem-17288	75	48	and	and	CCONJ
fbem-17288	75	49	total	total	ADJ
fbem-17288	75	50	imports	import	NOUN
fbem-17288	75	51	(	(	PUNCT
fbem-17288	75	52	i	i	NOUN
fbem-17288	75	53	m	m	PROPN
fbem-17288	75	54	)	)	PUNCT
fbem-17288	75	55	.	.	PUNCT
fbem-17288	76	1	these	these	DET
fbem-17288	76	2	indicators	indicator	NOUN
fbem-17288	76	3	are	be	AUX
fbem-17288	76	4	crucial	crucial	ADJ
fbem-17288	76	5	factors	factor	NOUN
fbem-17288	76	6	that	that	PRON
fbem-17288	76	7	reflect	reflect	VERB
fbem-17288	76	8	the	the	DET
fbem-17288	76	9	dynamics	dynamic	NOUN
fbem-17288	76	10	of	of	ADP
fbem-17288	76	11	china	china	PROPN
fbem-17288	76	12	's	's	PART
fbem-17288	76	13	economic	economic	ADJ
fbem-17288	76	14	landscape	landscape	NOUN
fbem-17288	76	15	,	,	PUNCT
fbem-17288	76	16	and	and	CCONJ
fbem-17288	76	17	their	their	PRON
fbem-17288	76	18	relationship	relationship	NOUN
fbem-17288	76	19	with	with	ADP
fbem-17288	76	20	foreign	foreign	ADJ
fbem-17288	76	21	exchange	exchange	NOUN
fbem-17288	76	22	reserves	reserve	NOUN
fbem-17288	76	23	is	be	AUX
fbem-17288	76	24	explored	explore	VERB
fbem-17288	76	25	through	through	ADP
fbem-17288	76	26	empirical	empirical	ADJ
fbem-17288	76	27	tests	test	NOUN
fbem-17288	76	28	conducted	conduct	VERB
fbem-17288	76	29	using	use	VERB
fbem-17288	76	30	eviews	eview	NOUN
fbem-17288	76	31	.	.	PUNCT
fbem-17288	77	1	1.chinese	1.chinese	NUM
fbem-17288	77	2	yuan	yuan	NOUN
fbem-17288	77	3	to	to	ADP
fbem-17288	77	4	us	us	PROPN
fbem-17288	77	5	dollar	dollar	NOUN
fbem-17288	77	6	exchange	exchange	NOUN
fbem-17288	77	7	rate	rate	NOUN
fbem-17288	77	8	(	(	PUNCT
fbem-17288	77	9	er	er	INTJ
fbem-17288	77	10	):	):	PUNCT
fbem-17288	77	11	the	the	DET
fbem-17288	77	12	exchange	exchange	NOUN
fbem-17288	77	13	rate	rate	NOUN
fbem-17288	77	14	between	between	ADP
fbem-17288	77	15	the	the	DET
fbem-17288	77	16	chinese	chinese	PROPN
fbem-17288	77	17	yuan	yuan	PROPN
fbem-17288	77	18	and	and	CCONJ
fbem-17288	77	19	the	the	DET
fbem-17288	77	20	us	us	PROPN
fbem-17288	77	21	dollar	dollar	NOUN
fbem-17288	77	22	is	be	AUX
fbem-17288	77	23	a	a	DET
fbem-17288	77	24	pivotal	pivotal	ADJ
fbem-17288	77	25	factor	factor	NOUN
fbem-17288	77	26	influenced	influence	VERB
fbem-17288	77	27	by	by	ADP
fbem-17288	77	28	various	various	ADJ
fbem-17288	77	29	economic	economic	ADJ
fbem-17288	77	30	factors	factor	NOUN
fbem-17288	77	31	such	such	ADJ
fbem-17288	77	32	as	as	ADP
fbem-17288	77	33	national	national	ADJ
fbem-17288	77	34	trade	trade	NOUN
fbem-17288	77	35	,	,	PUNCT
fbem-17288	77	36	international	international	ADJ
fbem-17288	77	37	balance	balance	NOUN
fbem-17288	77	38	of	of	ADP
fbem-17288	77	39	payments	payment	NOUN
fbem-17288	77	40	,	,	PUNCT
fbem-17288	77	41	and	and	CCONJ
fbem-17288	77	42	interest	interest	NOUN
fbem-17288	77	43	rates	rate	NOUN
fbem-17288	77	44	.	.	PUNCT
fbem-17288	78	1	the	the	DET
fbem-17288	78	2	paper	paper	NOUN
fbem-17288	78	3	notes	note	VERB
fbem-17288	78	4	that	that	SCONJ
fbem-17288	78	5	fluctuations	fluctuation	NOUN
fbem-17288	78	6	in	in	ADP
fbem-17288	78	7	the	the	DET
fbem-17288	78	8	exchange	exchange	NOUN
fbem-17288	78	9	rate	rate	NOUN
fbem-17288	78	10	are	be	AUX
fbem-17288	78	11	expected	expect	VERB
fbem-17288	78	12	due	due	ADP
fbem-17288	78	13	to	to	ADP
fbem-17288	78	14	these	these	DET
fbem-17288	78	15	factors	factor	NOUN
fbem-17288	78	16	.	.	PUNCT
fbem-17288	79	1	specifically	specifically	ADV
fbem-17288	79	2	,	,	PUNCT
fbem-17288	79	3	when	when	SCONJ
fbem-17288	79	4	the	the	DET
fbem-17288	79	5	chinese	chinese	PROPN
fbem-17288	79	6	yuan	yuan	PROPN
fbem-17288	79	7	appreciates	appreciate	VERB
fbem-17288	79	8	,	,	PUNCT
fbem-17288	79	9	it	it	PRON
fbem-17288	79	10	tends	tend	VERB
fbem-17288	79	11	to	to	PART
fbem-17288	79	12	lead	lead	VERB
fbem-17288	79	13	to	to	ADP
fbem-17288	79	14	a	a	DET
fbem-17288	79	15	decrease	decrease	NOUN
fbem-17288	79	16	in	in	ADP
fbem-17288	79	17	exports	export	NOUN
fbem-17288	79	18	,	,	PUNCT
fbem-17288	79	19	an	an	DET
fbem-17288	79	20	increase	increase	NOUN
fbem-17288	79	21	in	in	ADP
fbem-17288	79	22	imports	import	NOUN
fbem-17288	79	23	,	,	PUNCT
fbem-17288	79	24	and	and	CCONJ
fbem-17288	79	25	the	the	DET
fbem-17288	79	26	inflow	inflow	NOUN
fbem-17288	79	27	of	of	ADP
fbem-17288	79	28	foreign	foreign	ADJ
fbem-17288	79	29	capital	capital	NOUN
fbem-17288	79	30	.	.	PUNCT
fbem-17288	80	1	this	this	PRON
fbem-17288	80	2	,	,	PUNCT
fbem-17288	80	3	in	in	ADP
fbem-17288	80	4	turn	turn	NOUN
fbem-17288	80	5	,	,	PUNCT
fbem-17288	80	6	contributes	contribute	VERB
fbem-17288	80	7	to	to	ADP
fbem-17288	80	8	the	the	DET
fbem-17288	80	9	augmentation	augmentation	NOUN
fbem-17288	80	10	of	of	ADP
fbem-17288	80	11	foreign	foreign	ADJ
fbem-17288	80	12	exchange	exchange	NOUN
fbem-17288	80	13	reserves	reserve	NOUN
fbem-17288	80	14	.	.	PUNCT
fbem-17288	81	1	conversely	conversely	ADV
fbem-17288	81	2	,	,	PUNCT
fbem-17288	81	3	when	when	SCONJ
fbem-17288	81	4	the	the	DET
fbem-17288	81	5	yuan	yuan	NOUN
fbem-17288	81	6	depreciates	depreciate	VERB
fbem-17288	81	7	,	,	PUNCT
fbem-17288	81	8	the	the	DET
fbem-17288	81	9	opposite	opposite	ADJ
fbem-17288	81	10	effect	effect	NOUN
fbem-17288	81	11	is	be	AUX
fbem-17288	81	12	observed	observe	VERB
fbem-17288	81	13	,	,	PUNCT
fbem-17288	81	14	potentially	potentially	ADV
fbem-17288	81	15	leading	lead	VERB
fbem-17288	81	16	to	to	ADP
fbem-17288	81	17	a	a	DET
fbem-17288	81	18	decrease	decrease	NOUN
fbem-17288	81	19	in	in	ADP
fbem-17288	81	20	foreign	foreign	ADJ
fbem-17288	81	21	exchange	exchange	NOUN
fbem-17288	81	22	reserves	reserve	NOUN
fbem-17288	81	23	.	.	PUNCT
fbem-17288	82	1	2.foreign	2.foreign	NUM
fbem-17288	82	2	debt	debt	NOUN
fbem-17288	82	3	balance	balance	NOUN
fbem-17288	82	4	(	(	PUNCT
fbem-17288	82	5	fd	fd	PROPN
fbem-17288	82	6	):	):	PUNCT
fbem-17288	82	7	the	the	DET
fbem-17288	82	8	foreign	foreign	ADJ
fbem-17288	82	9	debt	debt	NOUN
fbem-17288	82	10	balance	balance	NOUN
fbem-17288	82	11	is	be	AUX
fbem-17288	82	12	identified	identify	VERB
fbem-17288	82	13	as	as	ADP
fbem-17288	82	14	another	another	DET
fbem-17288	82	15	crucial	crucial	ADJ
fbem-17288	82	16	indicator	indicator	NOUN
fbem-17288	82	17	.	.	PUNCT
fbem-17288	83	1	an	an	DET
fbem-17288	83	2	increase	increase	NOUN
fbem-17288	83	3	in	in	ADP
fbem-17288	83	4	the	the	DET
fbem-17288	83	5	foreign	foreign	ADJ
fbem-17288	83	6	debt	debt	NOUN
fbem-17288	83	7	balance	balance	NOUN
fbem-17288	83	8	implies	imply	VERB
fbem-17288	83	9	higher	high	ADJ
fbem-17288	83	10	amounts	amount	NOUN
fbem-17288	83	11	of	of	ADP
fbem-17288	83	12	principal	principal	NOUN
fbem-17288	83	13	and	and	CCONJ
fbem-17288	83	14	interest	interest	NOUN
fbem-17288	83	15	payments	payment	NOUN
fbem-17288	83	16	due	due	ADJ
fbem-17288	83	17	.	.	PUNCT
fbem-17288	84	1	this	this	PRON
fbem-17288	84	2	,	,	PUNCT
fbem-17288	84	3	in	in	ADP
fbem-17288	84	4	turn	turn	NOUN
fbem-17288	84	5	,	,	PUNCT
fbem-17288	84	6	can	can	AUX
fbem-17288	84	7	lead	lead	VERB
fbem-17288	84	8	to	to	ADP
fbem-17288	84	9	a	a	DET
fbem-17288	84	10	decrease	decrease	NOUN
fbem-17288	84	11	in	in	ADP
fbem-17288	84	12	foreign	foreign	ADJ
fbem-17288	84	13	exchange	exchange	NOUN
fbem-17288	84	14	reserves	reserve	NOUN
fbem-17288	84	15	.	.	PUNCT
fbem-17288	85	1	the	the	DET
fbem-17288	85	2	relationship	relationship	NOUN
fbem-17288	85	3	between	between	ADP
fbem-17288	85	4	foreign	foreign	ADJ
fbem-17288	85	5	debt	debt	NOUN
fbem-17288	85	6	and	and	CCONJ
fbem-17288	85	7	reserves	reserve	NOUN
fbem-17288	85	8	underscores	underscore	VERB
fbem-17288	85	9	the	the	DET
fbem-17288	85	10	importance	importance	NOUN
fbem-17288	85	11	of	of	ADP
fbem-17288	85	12	managing	manage	VERB
fbem-17288	85	13	debt	debt	NOUN
fbem-17288	85	14	levels	level	NOUN
fbem-17288	85	15	to	to	PART
fbem-17288	85	16	maintain	maintain	VERB
fbem-17288	85	17	a	a	DET
fbem-17288	85	18	healthy	healthy	ADJ
fbem-17288	85	19	reserve	reserve	NOUN
fbem-17288	85	20	position	position	NOUN
fbem-17288	85	21	.	.	PUNCT
fbem-17288	86	1	3.total	3.total	NUM
fbem-17288	86	2	imports	import	NOUN
fbem-17288	86	3	(	(	PUNCT
fbem-17288	86	4	i	i	NOUN
fbem-17288	86	5	m	m	VERB
fbem-17288	86	6	):	):	PUNCT
fbem-17288	86	7	total	total	ADJ
fbem-17288	86	8	imports	import	NOUN
fbem-17288	86	9	represent	represent	VERB
fbem-17288	86	10	the	the	DET
fbem-17288	86	11	volume	volume	NOUN
fbem-17288	86	12	of	of	ADP
fbem-17288	86	13	goods	good	NOUN
fbem-17288	86	14	and	and	CCONJ
fbem-17288	86	15	services	service	NOUN
fbem-17288	86	16	that	that	PRON
fbem-17288	86	17	a	a	DET
fbem-17288	86	18	country	country	NOUN
fbem-17288	86	19	brings	bring	VERB
fbem-17288	86	20	in	in	ADP
fbem-17288	86	21	from	from	ADP
fbem-17288	86	22	abroad	abroad	ADV
fbem-17288	86	23	.	.	PUNCT
fbem-17288	87	1	the	the	DET
fbem-17288	87	2	paper	paper	NOUN
fbem-17288	87	3	suggests	suggest	VERB
fbem-17288	87	4	that	that	SCONJ
fbem-17288	87	5	an	an	DET
fbem-17288	87	6	increase	increase	NOUN
fbem-17288	87	7	in	in	ADP
fbem-17288	87	8	total	total	ADJ
fbem-17288	87	9	imports	import	NOUN
fbem-17288	87	10	is	be	AUX
fbem-17288	87	11	associated	associate	VERB
fbem-17288	87	12	with	with	ADP
fbem-17288	87	13	a	a	DET
fbem-17288	87	14	tendency	tendency	NOUN
fbem-17288	87	15	for	for	SCONJ
fbem-17288	87	16	foreign	foreign	ADJ
fbem-17288	87	17	exchange	exchange	NOUN
fbem-17288	87	18	reserves	reserve	NOUN
fbem-17288	87	19	to	to	PART
fbem-17288	87	20	increase	increase	VERB
fbem-17288	87	21	.	.	PUNCT
fbem-17288	88	1	this	this	DET
fbem-17288	88	2	relationship	relationship	NOUN
fbem-17288	88	3	can	can	AUX
fbem-17288	88	4	be	be	AUX
fbem-17288	88	5	attributed	attribute	VERB
fbem-17288	88	6	to	to	ADP
fbem-17288	88	7	the	the	DET
fbem-17288	88	8	fact	fact	NOUN
fbem-17288	88	9	that	that	SCONJ
fbem-17288	88	10	higher	high	ADJ
fbem-17288	88	11	imports	import	NOUN
fbem-17288	88	12	often	often	ADV
fbem-17288	88	13	require	require	VERB
fbem-17288	88	14	larger	large	ADJ
fbem-17288	88	15	reserves	reserve	NOUN
fbem-17288	88	16	to	to	PART
fbem-17288	88	17	facilitate	facilitate	VERB
fbem-17288	88	18	international	international	ADJ
fbem-17288	88	19	trade	trade	NOUN
fbem-17288	88	20	and	and	CCONJ
fbem-17288	88	21	payments	payment	NOUN
fbem-17288	88	22	.	.	PUNCT
fbem-17288	89	1	for	for	ADP
fbem-17288	89	2	the	the	DET
fbem-17288	89	3	empirical	empirical	ADJ
fbem-17288	89	4	analysis	analysis	NOUN
fbem-17288	89	5	,	,	PUNCT
fbem-17288	89	6	the	the	DET
fbem-17288	89	7	paper	paper	NOUN
fbem-17288	89	8	employs	employ	VERB
fbem-17288	89	9	logarithmic	logarithmic	ADJ
fbem-17288	89	10	transformations	transformation	NOUN
fbem-17288	89	11	for	for	ADP
fbem-17288	89	12	each	each	DET
fbem-17288	89	13	variable	variable	NOUN
fbem-17288	89	14	.	.	PUNCT
fbem-17288	90	1	the	the	DET
fbem-17288	90	2	resulting	result	VERB
fbem-17288	90	3	variables	variable	NOUN
fbem-17288	90	4	are	be	AUX
fbem-17288	90	5	denoted	denote	VERB
fbem-17288	90	6	as	as	ADP
fbem-17288	90	7	lnfr	lnfr	PROPN
fbem-17288	90	8	(	(	PUNCT
fbem-17288	90	9	logarithm	logarithm	NOUN
fbem-17288	90	10	of	of	ADP
fbem-17288	90	11	foreign	foreign	ADJ
fbem-17288	90	12	exchange	exchange	NOUN
fbem-17288	90	13	reserves	reserve	NOUN
fbem-17288	90	14	)	)	PUNCT
fbem-17288	90	15	,	,	PUNCT
fbem-17288	90	16	lner	lner	NOUN
fbem-17288	90	17	(	(	PUNCT
fbem-17288	90	18	logarithm	logarithm	NOUN
fbem-17288	90	19	of	of	ADP
fbem-17288	90	20	the	the	DET
fbem-17288	90	21	exchange	exchange	NOUN
fbem-17288	90	22	rate	rate	NOUN
fbem-17288	90	23	)	)	PUNCT
fbem-17288	90	24	,	,	PUNCT
fbem-17288	90	25	lnfd	lnfd	NOUN
fbem-17288	90	26	(	(	PUNCT
fbem-17288	90	27	logarithm	logarithm	NOUN
fbem-17288	90	28	of	of	ADP
fbem-17288	90	29	foreign	foreign	ADJ
fbem-17288	90	30	debt	debt	NOUN
fbem-17288	90	31	balance	balance	NOUN
fbem-17288	90	32	)	)	PUNCT
fbem-17288	90	33	,	,	PUNCT
fbem-17288	90	34	and	and	CCONJ
fbem-17288	90	35	lnim	lnim	PROPN
fbem-17288	90	36	(	(	PUNCT
fbem-17288	90	37	logarithm	logarithm	NOUN
fbem-17288	90	38	of	of	ADP
fbem-17288	90	39	total	total	ADJ
fbem-17288	90	40	imports	import	NOUN
fbem-17288	90	41	)	)	PUNCT
fbem-17288	90	42	.	.	PUNCT
fbem-17288	91	1	these	these	DET
fbem-17288	91	2	transformations	transformation	NOUN
fbem-17288	91	3	are	be	AUX
fbem-17288	91	4	applied	apply	VERB
fbem-17288	91	5	to	to	PART
fbem-17288	91	6	facilitate	facilitate	VERB
fbem-17288	91	7	the	the	DET
fbem-17288	91	8	analysis	analysis	NOUN
fbem-17288	91	9	and	and	CCONJ
fbem-17288	91	10	interpretation	interpretation	NOUN
fbem-17288	91	11	of	of	ADP
fbem-17288	91	12	the	the	DET
fbem-17288	91	13	results	result	NOUN
fbem-17288	91	14	.	.	PUNCT
fbem-17288	92	1	in	in	ADP
fbem-17288	92	2	eviews	eviews	PROPN
fbem-17288	92	3	,	,	PUNCT
fbem-17288	92	4	the	the	DET
fbem-17288	92	5	corresponding	corresponding	ADJ
fbem-17288	92	6	variables	variable	NOUN
fbem-17288	92	7	are	be	AUX
fbem-17288	92	8	labeled	label	VERB
fbem-17288	92	9	as	as	ADP
fbem-17288	92	10	lny	lny	PROPN
fbem-17288	92	11	,	,	PUNCT
fbem-17288	92	12	lnx1	lnx1	PROPN
fbem-17288	92	13	,	,	PUNCT
fbem-17288	92	14	lnx2	lnx2	PROPN
fbem-17288	92	15	,	,	PUNCT
fbem-17288	92	16	and	and	CCONJ
fbem-17288	92	17	lnx3	lnx3	PROPN
fbem-17288	92	18	for	for	ADP
fbem-17288	92	19	lnfr	lnfr	PROPN
fbem-17288	92	20	,	,	PUNCT
fbem-17288	92	21	lner	lner	NOUN
fbem-17288	92	22	,	,	PUNCT
fbem-17288	92	23	lnfd	lnfd	NOUN
fbem-17288	92	24	,	,	PUNCT
fbem-17288	92	25	and	and	CCONJ
fbem-17288	92	26	lnim	lnim	NOUN
fbem-17288	92	27	,	,	PUNCT
fbem-17288	92	28	respectively	respectively	ADV
fbem-17288	92	29	,	,	PUNCT
fbem-17288	92	30	providing	provide	VERB
fbem-17288	92	31	a	a	DET
fbem-17288	92	32	clear	clear	ADJ
fbem-17288	92	33	and	and	CCONJ
fbem-17288	92	34	concise	concise	ADJ
fbem-17288	92	35	way	way	NOUN
fbem-17288	92	36	to	to	PART
fbem-17288	92	37	observe	observe	VERB
fbem-17288	92	38	and	and	CCONJ
fbem-17288	92	39	analyze	analyze	VERB
fbem-17288	92	40	the	the	DET
fbem-17288	92	41	outcomes	outcome	NOUN
fbem-17288	92	42	of	of	ADP
fbem-17288	92	43	the	the	DET
fbem-17288	92	44	empirical	empirical	ADJ
fbem-17288	92	45	tests	test	NOUN
fbem-17288	92	46	.	.	PUNCT
fbem-17288	93	1	this	this	DET
fbem-17288	93	2	analytical	analytical	ADJ
fbem-17288	93	3	approach	approach	NOUN
fbem-17288	93	4	enables	enable	VERB
fbem-17288	93	5	a	a	DET
fbem-17288	93	6	deeper	deep	ADJ
fbem-17288	93	7	understanding	understanding	NOUN
fbem-17288	93	8	of	of	ADP
fbem-17288	93	9	the	the	DET
fbem-17288	93	10	relationships	relationship	NOUN
fbem-17288	93	11	between	between	ADP
fbem-17288	93	12	these	these	DET
fbem-17288	93	13	key	key	ADJ
fbem-17288	93	14	indicators	indicator	NOUN
fbem-17288	93	15	and	and	CCONJ
fbem-17288	93	16	china	china	PROPN
fbem-17288	93	17	's	's	PART
fbem-17288	93	18	foreign	foreign	ADJ
fbem-17288	93	19	exchange	exchange	NOUN
fbem-17288	93	20	reserves	reserve	NOUN
fbem-17288	93	21	.	.	PUNCT
fbem-17288	94	1	3.2	3.2	NUM
fbem-17288	94	2	stationarity	stationarity	NOUN
fbem-17288	94	3	test	test	NOUN
fbem-17288	94	4	to	to	PART
fbem-17288	94	5	avoid	avoid	VERB
fbem-17288	94	6	the	the	DET
fbem-17288	94	7	spurious	spurious	ADJ
fbem-17288	94	8	regression	regression	NOUN
fbem-17288	94	9	phenomenon	phenomenon	NOUN
fbem-17288	94	10	,	,	PUNCT
fbem-17288	94	11	this	this	DET
fbem-17288	94	12	article	article	NOUN
fbem-17288	94	13	first	first	ADV
fbem-17288	94	14	employs	employ	VERB
fbem-17288	94	15	the	the	DET
fbem-17288	94	16	augmented	augment	VERB
fbem-17288	94	17	dickey	dickey	NOUN
fbem-17288	94	18	-	-	PUNCT
fbem-17288	94	19	fuller	full	ADJ
fbem-17288	94	20	(	(	PUNCT
fbem-17288	94	21	adf	adf	NOUN
fbem-17288	94	22	)	)	PUNCT
fbem-17288	94	23	unit	unit	NOUN
fbem-17288	94	24	root	root	NOUN
fbem-17288	94	25	test	test	NOUN
fbem-17288	94	26	to	to	PART
fbem-17288	94	27	examine	examine	VERB
fbem-17288	94	28	each	each	DET
fbem-17288	94	29	individual	individual	ADJ
fbem-17288	94	30	series	series	NOUN
fbem-17288	94	31	,	,	PUNCT
fbem-17288	94	32	including	include	VERB
fbem-17288	94	33	the	the	DET
fbem-17288	94	34	dependent	dependent	ADJ
fbem-17288	94	35	variable	variable	NOUN
fbem-17288	94	36	and	and	CCONJ
fbem-17288	94	37	each	each	DET
fbem-17288	94	38	explanatory	explanatory	ADJ
fbem-17288	94	39	variable	variable	NOUN
fbem-17288	94	40	.	.	PUNCT
fbem-17288	95	1	the	the	DET
fbem-17288	95	2	adf	adf	PROPN
fbem-17288	95	3	test	test	NOUN
fbem-17288	95	4	is	be	AUX
fbem-17288	95	5	conducted	conduct	VERB
fbem-17288	95	6	at	at	ADP
fbem-17288	95	7	a	a	DET
fbem-17288	95	8	significance	significance	NOUN
fbem-17288	95	9	level	level	NOUN
fbem-17288	95	10	of	of	ADP
fbem-17288	95	11	5	5	NUM
fbem-17288	95	12	%	%	NOUN
fbem-17288	95	13	to	to	PART
fbem-17288	95	14	test	test	VERB
fbem-17288	95	15	the	the	DET
fbem-17288	95	16	presence	presence	NOUN
fbem-17288	95	17	of	of	ADP
fbem-17288	95	18	unit	unit	NOUN
fbem-17288	95	19	roots	root	NOUN
fbem-17288	95	20	in	in	ADP
fbem-17288	95	21	the	the	DET
fbem-17288	95	22	explanatory	explanatory	ADJ
fbem-17288	95	23	variables	variable	NOUN
fbem-17288	95	24	and	and	CCONJ
fbem-17288	95	25	three	three	NUM
fbem-17288	95	26	dependent	dependent	ADJ
fbem-17288	95	27	variables	variable	NOUN
fbem-17288	95	28	.	.	PUNCT
fbem-17288	96	1	by	by	ADP
fbem-17288	96	2	comparing	compare	VERB
fbem-17288	96	3	the	the	DET
fbem-17288	96	4	t	t	NOUN
fbem-17288	96	5	-	-	PUNCT
fbem-17288	96	6	values	value	NOUN
fbem-17288	96	7	from	from	ADP
fbem-17288	96	8	the	the	DET
fbem-17288	96	9	test	test	NOUN
fbem-17288	96	10	results	result	NOUN
fbem-17288	96	11	with	with	ADP
fbem-17288	96	12	critical	critical	ADJ
fbem-17288	96	13	values	value	NOUN
fbem-17288	96	14	,	,	PUNCT
fbem-17288	96	15	it	it	PRON
fbem-17288	96	16	can	can	AUX
fbem-17288	96	17	be	be	AUX
fbem-17288	96	18	determined	determine	VERB
fbem-17288	96	19	whether	whether	SCONJ
fbem-17288	96	20	a	a	DET
fbem-17288	96	21	series	series	NOUN
fbem-17288	96	22	contains	contain	VERB
fbem-17288	96	23	a	a	DET
fbem-17288	96	24	unit	unit	NOUN
fbem-17288	96	25	root	root	NOUN
fbem-17288	96	26	.	.	PUNCT
fbem-17288	97	1	if	if	SCONJ
fbem-17288	97	2	a	a	DET
fbem-17288	97	3	unit	unit	NOUN
fbem-17288	97	4	root	root	NOUN
fbem-17288	97	5	is	be	AUX
fbem-17288	97	6	found	find	VERB
fbem-17288	97	7	,	,	PUNCT
fbem-17288	97	8	it	it	PRON
fbem-17288	97	9	indicates	indicate	VERB
fbem-17288	97	10	that	that	SCONJ
fbem-17288	97	11	the	the	DET
fbem-17288	97	12	series	series	NOUN
fbem-17288	97	13	is	be	AUX
fbem-17288	97	14	non	non	ADJ
fbem-17288	97	15	-	-	ADJ
fbem-17288	97	16	stationary	stationary	ADJ
fbem-17288	97	17	and	and	CCONJ
fbem-17288	97	18	needs	need	VERB
fbem-17288	97	19	to	to	PART
fbem-17288	97	20	undergo	undergo	VERB
fbem-17288	97	21	differencing	differencing	NOUN
fbem-17288	97	22	before	before	ADP
fbem-17288	97	23	further	further	ADJ
fbem-17288	97	24	testing	testing	NOUN
fbem-17288	97	25	.	.	PUNCT
fbem-17288	98	1	table	table	NOUN
fbem-17288	98	2	1	1	NUM
fbem-17288	98	3	.	.	PUNCT
fbem-17288	99	1	adf	adf	NOUN
fbem-17288	99	2	test	test	NOUN
fbem-17288	99	3	results	result	VERB
fbem-17288	99	4	variable	variable	ADJ
fbem-17288	99	5	name	name	NOUN
fbem-17288	99	6	adf	adf	PROPN
fbem-17288	99	7	test	test	NOUN
fbem-17288	99	8	value	value	NOUN
fbem-17288	99	9	5	5	NUM
fbem-17288	99	10	%	%	NOUN
fbem-17288	99	11	critical	critical	ADJ
fbem-17288	99	12	value	value	NOUN
fbem-17288	99	13	conclusion	conclusion	NOUN
fbem-17288	99	14	lnfr	lnfr	PROPN
fbem-17288	99	15	-0.1826	-0.1826	PROPN
fbem-17288	99	16	-3.5578	-3.5578	PUNCT
fbem-17288	100	1	non	non	ADJ
fbem-17288	100	2	-	-	ADJ
fbem-17288	100	3	stationary	stationary	ADJ
fbem-17288	100	4	∆lnfr	∆lnfr	NUM
fbem-17288	100	5	-5.5959	-5.5959	NOUN
fbem-17288	100	6	-3.5443	-3.5443	VERB
fbem-17288	100	7	stationary	stationary	PROPN
fbem-17288	100	8	lner	lner	PROPN
fbem-17288	100	9	-2.2817	-2.2817	PROPN
fbem-17288	100	10	-3.5403	-3.5403	VERB
fbem-17288	101	1	non	non	ADJ
fbem-17288	101	2	-	-	ADJ
fbem-17288	101	3	stationary	stationary	ADJ
fbem-17288	101	4	∆lner	∆ln	ADJ
fbem-17288	101	5	-5.6489	-5.6489	NOUN
fbem-17288	101	6	-3.5443	-3.5443	ADJ
fbem-17288	101	7	stationary	stationary	ADJ
fbem-17288	101	8	lnfd	lnfd	NOUN
fbem-17288	101	9	-0.7614	-0.7614	PROPN
fbem-17288	102	1	-2.9511	-2.9511	VERB
fbem-17288	102	2	non	non	ADJ
fbem-17288	102	3	-	-	ADJ
fbem-17288	102	4	stationary	stationary	ADJ
fbem-17288	102	5	∆lnfd	∆lnfd	NUM
fbem-17288	102	6	-6.3157	-6.3157	NOUN
fbem-17288	102	7	-3.5485	-3.5485	PROPN
fbem-17288	103	1	stationary	stationary	PROPN
fbem-17288	103	2	lnim	lnim	PROPN
fbem-17288	103	3	-0.6797	-0.6797	PROPN
fbem-17288	103	4	-3.5403	-3.5403	PROPN
fbem-17288	103	5	non	non	ADJ
fbem-17288	103	6	-	-	ADJ
fbem-17288	103	7	stationary	stationary	ADJ
fbem-17288	103	8	∆lnim	∆lnim	NUM
fbem-17288	103	9	-4.5355	-4.5355	PROPN
fbem-17288	103	10	-3.5443	-3.5443	PROPN
fbem-17288	103	11	stationary	stationary	PROPN
fbem-17288	103	12	based	base	VERB
fbem-17288	103	13	on	on	ADP
fbem-17288	103	14	the	the	DET
fbem-17288	103	15	above	above	ADJ
fbem-17288	103	16	results	result	NOUN
fbem-17288	103	17	,	,	PUNCT
fbem-17288	103	18	it	it	PRON
fbem-17288	103	19	can	can	AUX
fbem-17288	103	20	be	be	AUX
fbem-17288	103	21	observed	observe	VERB
fbem-17288	103	22	that	that	SCONJ
fbem-17288	103	23	the	the	DET
fbem-17288	103	24	absolute	absolute	ADJ
fbem-17288	103	25	values	value	NOUN
fbem-17288	103	26	of	of	ADP
fbem-17288	103	27	the	the	DET
fbem-17288	103	28	statistics	statistic	NOUN
fbem-17288	103	29	obtained	obtain	VERB
fbem-17288	103	30	for	for	ADP
fbem-17288	103	31	all	all	DET
fbem-17288	103	32	variables	variable	NOUN
fbem-17288	103	33	in	in	ADP
fbem-17288	103	34	the	the	DET
fbem-17288	103	35	adf	adf	NOUN
fbem-17288	103	36	test	test	NOUN
fbem-17288	103	37	are	be	AUX
fbem-17288	103	38	less	less	ADJ
fbem-17288	103	39	than	than	ADP
fbem-17288	103	40	the	the	DET
fbem-17288	103	41	absolute	absolute	ADJ
fbem-17288	103	42	values	value	NOUN
fbem-17288	103	43	of	of	ADP
fbem-17288	103	44	the	the	DET
fbem-17288	103	45	corresponding	corresponding	ADJ
fbem-17288	103	46	critical	critical	ADJ
fbem-17288	103	47	values	value	NOUN
fbem-17288	103	48	at	at	ADP
fbem-17288	103	49	a	a	DET
fbem-17288	103	50	5	5	NUM
fbem-17288	103	51	%	%	NOUN
fbem-17288	103	52	significance	significance	NOUN
fbem-17288	103	53	level	level	NOUN
fbem-17288	103	54	.	.	PUNCT
fbem-17288	104	1	this	this	PRON
fbem-17288	104	2	indicates	indicate	VERB
fbem-17288	104	3	that	that	SCONJ
fbem-17288	104	4	all	all	DET
fbem-17288	104	5	variables	variable	NOUN
fbem-17288	104	6	exhibit	exhibit	VERB
fbem-17288	104	7	non	non	ADJ
fbem-17288	104	8	-	-	ADJ
fbem-17288	104	9	stationary	stationary	ADJ
fbem-17288	104	10	characteristics	characteristic	NOUN
fbem-17288	104	11	.	.	PUNCT
fbem-17288	105	1	however	however	ADV
fbem-17288	105	2	,	,	PUNCT
fbem-17288	105	3	after	after	ADP
fbem-17288	105	4	applying	apply	VERB
fbem-17288	105	5	a	a	DET
fbem-17288	105	6	first	first	ADJ
fbem-17288	105	7	-	-	PUNCT
fbem-17288	105	8	order	order	NOUN
fbem-17288	105	9	differencing	differencing	NOUN
fbem-17288	105	10	to	to	ADP
fbem-17288	105	11	each	each	DET
fbem-17288	105	12	variable	variable	NOUN
fbem-17288	105	13	,	,	PUNCT
fbem-17288	105	14	all	all	DET
fbem-17288	105	15	variables	variable	NOUN
fbem-17288	105	16	successfully	successfully	ADV
fbem-17288	105	17	rejected	reject	VERB
fbem-17288	105	18	the	the	DET
fbem-17288	105	19	non	non	ADJ
fbem-17288	105	20	-	-	ADJ
fbem-17288	105	21	stationary	stationary	ADJ
fbem-17288	105	22	hypothesis	hypothesis	NOUN
fbem-17288	105	23	that	that	PRON
fbem-17288	105	24	includes	include	VERB
fbem-17288	105	25	a	a	DET
fbem-17288	105	26	unit	unit	NOUN
fbem-17288	105	27	root	root	NOUN
fbem-17288	105	28	at	at	ADP
fbem-17288	105	29	a	a	DET
fbem-17288	105	30	5	5	NUM
fbem-17288	105	31	%	%	NOUN
fbem-17288	105	32	significance	significance	NOUN
fbem-17288	105	33	level	level	NOUN
fbem-17288	105	34	,	,	PUNCT
fbem-17288	105	35	thereby	thereby	ADV
fbem-17288	105	36	passing	pass	VERB
fbem-17288	105	37	the	the	DET
fbem-17288	105	38	stationarity	stationarity	NOUN
fbem-17288	105	39	test	test	NOUN
fbem-17288	105	40	.	.	PUNCT
fbem-17288	106	1	this	this	PRON
fbem-17288	106	2	strongly	strongly	ADV
fbem-17288	106	3	suggests	suggest	VERB
fbem-17288	106	4	that	that	SCONJ
fbem-17288	106	5	the	the	DET
fbem-17288	106	6	introduction	introduction	NOUN
fbem-17288	106	7	of	of	ADP
fbem-17288	106	8	differencing	differencing	NOUN
fbem-17288	106	9	has	have	AUX
fbem-17288	106	10	effectively	effectively	ADV
fbem-17288	106	11	eliminated	eliminate	VERB
fbem-17288	106	12	the	the	DET
fbem-17288	106	13	trend	trend	NOUN
fbem-17288	106	14	components	component	NOUN
fbem-17288	106	15	in	in	ADP
fbem-17288	106	16	the	the	DET
fbem-17288	106	17	time	time	NOUN
fbem-17288	106	18	series	series	NOUN
fbem-17288	106	19	,	,	PUNCT
fbem-17288	106	20	leading	lead	VERB
fbem-17288	106	21	to	to	ADP
fbem-17288	106	22	an	an	DET
fbem-17288	106	23	increased	increase	VERB
fbem-17288	106	24	tendency	tendency	NOUN
fbem-17288	106	25	toward	toward	ADP
fbem-17288	106	26	stationarity	stationarity	NOUN
fbem-17288	106	27	for	for	ADP
fbem-17288	106	28	each	each	DET
fbem-17288	106	29	variable	variable	NOUN
fbem-17288	106	30	after	after	ADP
fbem-17288	106	31	processing	process	VERB
fbem-17288	106	32	.	.	PUNCT
fbem-17288	107	1	3.3	3.3	NUM
fbem-17288	107	2	cointegration	cointegration	NOUN
fbem-17288	107	3	test	test	NOUN
fbem-17288	107	4	the	the	DET
fbem-17288	107	5	johansen	johansen	PROPN
fbem-17288	107	6	cointegration	cointegration	PROPN
fbem-17288	107	7	test	test	NOUN
fbem-17288	107	8	is	be	AUX
fbem-17288	107	9	a	a	DET
fbem-17288	107	10	powerful	powerful	ADJ
fbem-17288	107	11	method	method	NOUN
fbem-17288	107	12	103	103	NUM
fbem-17288	107	13	employed	employ	VERB
fbem-17288	107	14	in	in	ADP
fbem-17288	107	15	econometrics	econometric	NOUN
fbem-17288	107	16	to	to	PART
fbem-17288	107	17	investigate	investigate	VERB
fbem-17288	107	18	whether	whether	SCONJ
fbem-17288	107	19	multiple	multiple	ADJ
fbem-17288	107	20	time	time	NOUN
fbem-17288	107	21	series	series	PROPN
fbem-17288	107	22	variables	variable	NOUN
fbem-17288	107	23	share	share	VERB
fbem-17288	107	24	a	a	DET
fbem-17288	107	25	common	common	ADJ
fbem-17288	107	26	long	long	ADJ
fbem-17288	107	27	-	-	PUNCT
fbem-17288	107	28	term	term	NOUN
fbem-17288	107	29	relationship	relationship	NOUN
fbem-17288	107	30	.	.	PUNCT
fbem-17288	108	1	this	this	DET
fbem-17288	108	2	statistical	statistical	ADJ
fbem-17288	108	3	technique	technique	NOUN
fbem-17288	108	4	is	be	AUX
fbem-17288	108	5	particularly	particularly	ADV
fbem-17288	108	6	valuable	valuable	ADJ
fbem-17288	108	7	in	in	ADP
fbem-17288	108	8	analyzing	analyze	VERB
fbem-17288	108	9	economic	economic	ADJ
fbem-17288	108	10	data	datum	NOUN
fbem-17288	108	11	,	,	PUNCT
fbem-17288	108	12	allowing	allow	VERB
fbem-17288	108	13	researchers	researcher	NOUN
fbem-17288	108	14	to	to	PART
fbem-17288	108	15	discern	discern	VERB
fbem-17288	108	16	whether	whether	SCONJ
fbem-17288	108	17	there	there	PRON
fbem-17288	108	18	is	be	VERB
fbem-17288	108	19	a	a	DET
fbem-17288	108	20	coevolution	coevolution	NOUN
fbem-17288	108	21	of	of	ADP
fbem-17288	108	22	economic	economic	ADJ
fbem-17288	108	23	variables	variable	NOUN
fbem-17288	108	24	and	and	CCONJ
fbem-17288	108	25	whether	whether	SCONJ
fbem-17288	108	26	a	a	DET
fbem-17288	108	27	cointegration	cointegration	NOUN
fbem-17288	108	28	relationship	relationship	NOUN
fbem-17288	108	29	exists	exist	VERB
fbem-17288	108	30	among	among	ADP
fbem-17288	108	31	them.the	them.the	DET
fbem-17288	108	32	primary	primary	ADJ
fbem-17288	108	33	objective	objective	NOUN
fbem-17288	108	34	of	of	ADP
fbem-17288	108	35	the	the	DET
fbem-17288	108	36	johansen	johansen	PROPN
fbem-17288	108	37	cointegration	cointegration	PROPN
fbem-17288	108	38	test	test	NOUN
fbem-17288	108	39	is	be	AUX
fbem-17288	108	40	to	to	PART
fbem-17288	108	41	uncover	uncover	VERB
fbem-17288	108	42	long	long	ADJ
fbem-17288	108	43	-	-	PUNCT
fbem-17288	108	44	term	term	NOUN
fbem-17288	108	45	equilibrium	equilibrium	NOUN
fbem-17288	108	46	relationships	relationship	NOUN
fbem-17288	108	47	between	between	ADP
fbem-17288	108	48	different	different	ADJ
fbem-17288	108	49	variables	variable	NOUN
fbem-17288	108	50	.	.	PUNCT
fbem-17288	109	1	by	by	ADP
fbem-17288	109	2	doing	do	VERB
fbem-17288	109	3	so	so	ADV
fbem-17288	109	4	,	,	PUNCT
fbem-17288	109	5	it	it	PRON
fbem-17288	109	6	offers	offer	VERB
fbem-17288	109	7	a	a	DET
fbem-17288	109	8	more	more	ADV
fbem-17288	109	9	profound	profound	ADJ
fbem-17288	109	10	and	and	CCONJ
fbem-17288	109	11	comprehensive	comprehensive	ADJ
fbem-17288	109	12	understanding	understanding	NOUN
fbem-17288	109	13	of	of	ADP
fbem-17288	109	14	how	how	SCONJ
fbem-17288	109	15	these	these	DET
fbem-17288	109	16	variables	variable	NOUN
fbem-17288	109	17	mutually	mutually	ADV
fbem-17288	109	18	influence	influence	VERB
fbem-17288	109	19	and	and	CCONJ
fbem-17288	109	20	depend	depend	VERB
fbem-17288	109	21	on	on	ADP
fbem-17288	109	22	each	each	DET
fbem-17288	109	23	other	other	ADJ
fbem-17288	109	24	over	over	ADP
fbem-17288	109	25	time	time	NOUN
fbem-17288	109	26	.	.	PUNCT
fbem-17288	110	1	the	the	DET
fbem-17288	110	2	test	test	NOUN
fbem-17288	110	3	is	be	AUX
fbem-17288	110	4	especially	especially	ADV
fbem-17288	110	5	relevant	relevant	ADJ
fbem-17288	110	6	in	in	ADP
fbem-17288	110	7	macroeconomic	macroeconomic	ADJ
fbem-17288	110	8	studies	study	NOUN
fbem-17288	110	9	where	where	SCONJ
fbem-17288	110	10	the	the	DET
fbem-17288	110	11	focus	focus	NOUN
fbem-17288	110	12	is	be	AUX
fbem-17288	110	13	on	on	ADP
fbem-17288	110	14	understanding	understand	VERB
fbem-17288	110	15	the	the	DET
fbem-17288	110	16	underlying	underlying	ADJ
fbem-17288	110	17	dynamics	dynamic	NOUN
fbem-17288	110	18	of	of	ADP
fbem-17288	110	19	economic	economic	ADJ
fbem-17288	110	20	systems	system	NOUN
fbem-17288	110	21	.	.	PUNCT
fbem-17288	111	1	in	in	ADP
fbem-17288	111	2	the	the	DET
fbem-17288	111	3	context	context	NOUN
fbem-17288	111	4	of	of	ADP
fbem-17288	111	5	the	the	DET
fbem-17288	111	6	study	study	NOUN
fbem-17288	111	7	at	at	ADP
fbem-17288	111	8	hand	hand	NOUN
fbem-17288	111	9	,	,	PUNCT
fbem-17288	111	10	the	the	DET
fbem-17288	111	11	johansen	johansen	PROPN
fbem-17288	111	12	cointegration	cointegration	PROPN
fbem-17288	111	13	test	test	NOUN
fbem-17288	111	14	is	be	AUX
fbem-17288	111	15	applied	apply	VERB
fbem-17288	111	16	to	to	PART
fbem-17288	111	17	examine	examine	VERB
fbem-17288	111	18	the	the	DET
fbem-17288	111	19	cointegration	cointegration	NOUN
fbem-17288	111	20	among	among	ADP
fbem-17288	111	21	four	four	NUM
fbem-17288	111	22	variable	variable	ADJ
fbem-17288	111	23	sequences	sequence	NOUN
fbem-17288	111	24	:	:	PUNCT
fbem-17288	111	25	the	the	DET
fbem-17288	111	26	chinese	chinese	PROPN
fbem-17288	111	27	yuan	yuan	PROPN
fbem-17288	111	28	to	to	ADP
fbem-17288	111	29	u.s	u.s	PROPN
fbem-17288	111	30	.	.	PROPN
fbem-17288	111	31	dollar	dollar	PROPN
fbem-17288	111	32	exchange	exchange	NOUN
fbem-17288	111	33	rate	rate	NOUN
fbem-17288	111	34	(	(	PUNCT
fbem-17288	111	35	er	er	INTJ
fbem-17288	111	36	)	)	PUNCT
fbem-17288	111	37	,	,	PUNCT
fbem-17288	111	38	foreign	foreign	ADJ
fbem-17288	111	39	debt	debt	NOUN
fbem-17288	111	40	balance	balance	NOUN
fbem-17288	111	41	(	(	PUNCT
fbem-17288	111	42	fd	fd	PROPN
fbem-17288	111	43	)	)	PUNCT
fbem-17288	111	44	,	,	PUNCT
fbem-17288	111	45	total	total	ADJ
fbem-17288	111	46	imports	import	NOUN
fbem-17288	111	47	(	(	PUNCT
fbem-17288	111	48	i	i	NOUN
fbem-17288	111	49	m	m	PROPN
fbem-17288	111	50	)	)	PUNCT
fbem-17288	111	51	,	,	PUNCT
fbem-17288	111	52	and	and	CCONJ
fbem-17288	111	53	foreign	foreign	ADJ
fbem-17288	111	54	exchange	exchange	NOUN
fbem-17288	111	55	reserve	reserve	NOUN
fbem-17288	111	56	scale	scale	NOUN
fbem-17288	111	57	(	(	PUNCT
fbem-17288	111	58	fr	fr	NOUN
fbem-17288	111	59	)	)	PUNCT
fbem-17288	111	60	.	.	PUNCT
fbem-17288	112	1	each	each	PRON
fbem-17288	112	2	of	of	ADP
fbem-17288	112	3	these	these	DET
fbem-17288	112	4	variables	variable	NOUN
fbem-17288	112	5	plays	play	VERB
fbem-17288	112	6	a	a	DET
fbem-17288	112	7	crucial	crucial	ADJ
fbem-17288	112	8	role	role	NOUN
fbem-17288	112	9	in	in	ADP
fbem-17288	112	10	reflecting	reflect	VERB
fbem-17288	112	11	various	various	ADJ
fbem-17288	112	12	aspects	aspect	NOUN
fbem-17288	112	13	of	of	ADP
fbem-17288	112	14	china	china	PROPN
fbem-17288	112	15	's	's	PART
fbem-17288	112	16	economic	economic	ADJ
fbem-17288	112	17	landscape.the	landscape.the	DET
fbem-17288	112	18	initial	initial	ADJ
fbem-17288	112	19	step	step	NOUN
fbem-17288	112	20	involves	involve	VERB
fbem-17288	112	21	establishing	establish	VERB
fbem-17288	112	22	a	a	DET
fbem-17288	112	23	vector	vector	NOUN
fbem-17288	112	24	autoregression	autoregression	NOUN
fbem-17288	112	25	(	(	PUNCT
fbem-17288	112	26	var	var	NOUN
fbem-17288	112	27	)	)	PUNCT
fbem-17288	112	28	model	model	NOUN
fbem-17288	112	29	.	.	PUNCT
fbem-17288	113	1	the	the	DET
fbem-17288	113	2	var	var	NOUN
fbem-17288	113	3	model	model	NOUN
fbem-17288	113	4	is	be	AUX
fbem-17288	113	5	a	a	DET
fbem-17288	113	6	statistical	statistical	ADJ
fbem-17288	113	7	technique	technique	NOUN
fbem-17288	113	8	that	that	PRON
fbem-17288	113	9	models	model	VERB
fbem-17288	113	10	the	the	DET
fbem-17288	113	11	interdependencies	interdependency	NOUN
fbem-17288	113	12	between	between	ADP
fbem-17288	113	13	multiple	multiple	ADJ
fbem-17288	113	14	time	time	NOUN
fbem-17288	113	15	series	series	NOUN
fbem-17288	113	16	variables	variable	NOUN
fbem-17288	113	17	.	.	PUNCT
fbem-17288	114	1	by	by	ADP
fbem-17288	114	2	utilizing	utilize	VERB
fbem-17288	114	3	this	this	DET
fbem-17288	114	4	model	model	NOUN
fbem-17288	114	5	,	,	PUNCT
fbem-17288	114	6	the	the	DET
fbem-17288	114	7	researchers	researcher	NOUN
fbem-17288	114	8	can	can	AUX
fbem-17288	114	9	explore	explore	VERB
fbem-17288	114	10	the	the	DET
fbem-17288	114	11	dynamic	dynamic	ADJ
fbem-17288	114	12	relationships	relationship	NOUN
fbem-17288	114	13	among	among	ADP
fbem-17288	114	14	the	the	DET
fbem-17288	114	15	variables	variable	NOUN
fbem-17288	114	16	of	of	ADP
fbem-17288	114	17	interest	interest	NOUN
fbem-17288	114	18	.	.	PUNCT
fbem-17288	115	1	to	to	PART
fbem-17288	115	2	ensure	ensure	VERB
fbem-17288	115	3	the	the	DET
fbem-17288	115	4	accuracy	accuracy	NOUN
fbem-17288	115	5	of	of	ADP
fbem-17288	115	6	the	the	DET
fbem-17288	115	7	model	model	NOUN
fbem-17288	115	8	,	,	PUNCT
fbem-17288	115	9	various	various	ADJ
fbem-17288	115	10	information	information	NOUN
fbem-17288	115	11	criteria	criterion	NOUN
fbem-17288	115	12	,	,	PUNCT
fbem-17288	115	13	such	such	ADJ
fbem-17288	115	14	as	as	ADP
fbem-17288	115	15	the	the	DET
fbem-17288	115	16	akaike	akaike	ADJ
fbem-17288	115	17	information	information	NOUN
fbem-17288	115	18	criterion	criterion	NOUN
fbem-17288	115	19	(	(	PUNCT
fbem-17288	115	20	aic	aic	PROPN
fbem-17288	115	21	)	)	PUNCT
fbem-17288	115	22	,	,	PUNCT
fbem-17288	115	23	are	be	AUX
fbem-17288	115	24	employed	employ	VERB
fbem-17288	115	25	.	.	PUNCT
fbem-17288	116	1	these	these	DET
fbem-17288	116	2	criteria	criterion	NOUN
fbem-17288	116	3	assist	assist	VERB
fbem-17288	116	4	in	in	ADP
fbem-17288	116	5	determining	determine	VERB
fbem-17288	116	6	the	the	DET
fbem-17288	116	7	optimal	optimal	ADJ
fbem-17288	116	8	lag	lag	NOUN
fbem-17288	116	9	period	period	NOUN
fbem-17288	116	10	,	,	PUNCT
fbem-17288	116	11	which	which	PRON
fbem-17288	116	12	is	be	AUX
fbem-17288	116	13	crucial	crucial	ADJ
fbem-17288	116	14	for	for	ADP
fbem-17288	116	15	capturing	capture	VERB
fbem-17288	116	16	the	the	DET
fbem-17288	116	17	temporal	temporal	ADJ
fbem-17288	116	18	dependencies	dependency	NOUN
fbem-17288	116	19	and	and	CCONJ
fbem-17288	116	20	trends	trend	NOUN
fbem-17288	116	21	within	within	ADP
fbem-17288	116	22	the	the	DET
fbem-17288	116	23	data.the	data.the	DET
fbem-17288	116	24	optimal	optimal	ADJ
fbem-17288	116	25	lag	lag	NOUN
fbem-17288	116	26	period	period	NOUN
fbem-17288	116	27	,	,	PUNCT
fbem-17288	116	28	determined	determine	VERB
fbem-17288	116	29	through	through	ADP
fbem-17288	116	30	the	the	DET
fbem-17288	116	31	aic	aic	PROPN
fbem-17288	116	32	or	or	CCONJ
fbem-17288	116	33	similar	similar	ADJ
fbem-17288	116	34	criteria	criterion	NOUN
fbem-17288	116	35	,	,	PUNCT
fbem-17288	116	36	allows	allow	VERB
fbem-17288	116	37	for	for	ADP
fbem-17288	116	38	a	a	DET
fbem-17288	116	39	more	more	ADV
fbem-17288	116	40	nuanced	nuanced	ADJ
fbem-17288	116	41	and	and	CCONJ
fbem-17288	116	42	indepth	indepth	ADJ
fbem-17288	116	43	investigation	investigation	NOUN
fbem-17288	116	44	into	into	ADP
fbem-17288	116	45	whether	whether	SCONJ
fbem-17288	116	46	a	a	DET
fbem-17288	116	47	long	long	ADJ
fbem-17288	116	48	-	-	PUNCT
fbem-17288	116	49	term	term	NOUN
fbem-17288	116	50	stable	stable	ADJ
fbem-17288	116	51	relationship	relationship	NOUN
fbem-17288	116	52	trend	trend	NOUN
fbem-17288	116	53	exists	exist	VERB
fbem-17288	116	54	among	among	ADP
fbem-17288	116	55	the	the	DET
fbem-17288	116	56	selected	select	VERB
fbem-17288	116	57	variables	variable	NOUN
fbem-17288	116	58	.	.	PUNCT
fbem-17288	117	1	in	in	ADP
fbem-17288	117	2	essence	essence	NOUN
fbem-17288	117	3	,	,	PUNCT
fbem-17288	117	4	the	the	DET
fbem-17288	117	5	research	research	NOUN
fbem-17288	117	6	is	be	AUX
fbem-17288	117	7	seeking	seek	VERB
fbem-17288	117	8	to	to	PART
fbem-17288	117	9	identify	identify	VERB
fbem-17288	117	10	whether	whether	SCONJ
fbem-17288	117	11	there	there	PRON
fbem-17288	117	12	is	be	VERB
fbem-17288	117	13	a	a	DET
fbem-17288	117	14	persistent	persistent	ADJ
fbem-17288	117	15	and	and	CCONJ
fbem-17288	117	16	meaningful	meaningful	ADJ
fbem-17288	117	17	connection	connection	NOUN
fbem-17288	117	18	among	among	ADP
fbem-17288	117	19	the	the	DET
fbem-17288	117	20	chinese	chinese	PROPN
fbem-17288	117	21	yuan	yuan	PROPN
fbem-17288	117	22	to	to	ADP
fbem-17288	117	23	u.s	u.s	PROPN
fbem-17288	117	24	.	.	PROPN
fbem-17288	117	25	dollar	dollar	PROPN
fbem-17288	117	26	exchange	exchange	NOUN
fbem-17288	117	27	rate	rate	NOUN
fbem-17288	117	28	,	,	PUNCT
fbem-17288	117	29	foreign	foreign	ADJ
fbem-17288	117	30	debt	debt	NOUN
fbem-17288	117	31	balance	balance	NOUN
fbem-17288	117	32	,	,	PUNCT
fbem-17288	117	33	total	total	ADJ
fbem-17288	117	34	imports	import	NOUN
fbem-17288	117	35	,	,	PUNCT
fbem-17288	117	36	and	and	CCONJ
fbem-17288	117	37	foreign	foreign	ADJ
fbem-17288	117	38	exchange	exchange	NOUN
fbem-17288	117	39	reserve	reserve	VERB
fbem-17288	117	40	scale.the	scale.the	DET
fbem-17288	117	41	following	follow	VERB
fbem-17288	117	42	are	be	AUX
fbem-17288	117	43	the	the	DET
fbem-17288	117	44	results	result	NOUN
fbem-17288	117	45	of	of	ADP
fbem-17288	117	46	the	the	DET
fbem-17288	117	47	johansen	johansen	PROPN
fbem-17288	117	48	cointegration	cointegration	PROPN
fbem-17288	117	49	test	test	NOUN
fbem-17288	117	50	.	.	PUNCT
fbem-17288	118	1	table	table	NOUN
fbem-17288	118	2	2	2	NUM
fbem-17288	118	3	.	.	PUNCT
fbem-17288	118	4	johansen	johansen	PROPN
fbem-17288	118	5	test	test	PROPN
fbem-17288	118	6	results	result	NOUN
fbem-17288	118	7	(	(	PUNCT
fbem-17288	118	8	1	1	X
fbem-17288	118	9	)	)	PUNCT
fbem-17288	118	10	trace	trace	NOUN
fbem-17288	118	11	test	test	NOUN
fbem-17288	118	12	hypothesized	hypothesize	VERB
fbem-17288	119	1	no	no	ADP
fbem-17288	119	2	.	.	PUNCT
fbem-17288	119	3	of	of	ADP
fbem-17288	119	4	ce(s	ce(s	ADV
fbem-17288	119	5	)	)	PUNCT
fbem-17288	119	6	eigenvalue	eigenvalue	NOUN
fbem-17288	119	7	trace	trace	NOUN
fbem-17288	119	8	statistic	statistic	NOUN
fbem-17288	119	9	0.05	0.05	NUM
fbem-17288	119	10	critical	critical	ADJ
fbem-17288	119	11	value	value	NOUN
fbem-17288	119	12	prob	prob	NOUN
fbem-17288	119	13	.	.	PUNCT
fbem-17288	120	1	*	*	PUNCT
fbem-17288	121	1	*	*	PUNCT
fbem-17288	122	1	none	none	NOUN
fbem-17288	122	2	*	*	PUNCT
fbem-17288	122	3	0.689336	0.689336	NUM
fbem-17288	122	4	78.12076	78.12076	NUM
fbem-17288	122	5	47.85613	47.85613	NUM
fbem-17288	122	6	0.0000	0.0000	NUM
fbem-17288	122	7	at	at	ADP
fbem-17288	122	8	most	most	ADJ
fbem-17288	122	9	1	1	NUM
fbem-17288	122	10	*	*	NUM
fbem-17288	122	11	0.571123	0.571123	NUM
fbem-17288	122	12	39.54229	39.54229	NUM
fbem-17288	122	13	29.79707	29.79707	NUM
fbem-17288	122	14	0.0028	0.0028	NUM
fbem-17288	122	15	at	at	ADP
fbem-17288	122	16	most	most	ADJ
fbem-17288	122	17	2	2	NUM
fbem-17288	122	18	0.293129	0.293129	NUM
fbem-17288	122	19	11.60501	11.60501	NUM
fbem-17288	122	20	15.49471	15.49471	NUM
fbem-17288	122	21	0.1769	0.1769	NUM
fbem-17288	122	22	at	at	ADP
fbem-17288	122	23	most	most	ADJ
fbem-17288	122	24	3	3	NUM
fbem-17288	122	25	0.004749	0.004749	NUM
fbem-17288	122	26	0.157084	0.157084	NUM
fbem-17288	122	27	3.841466	3.841466	NUM
fbem-17288	122	28	0.6919	0.6919	NUM
fbem-17288	122	29	(	(	PUNCT
fbem-17288	122	30	2	2	NUM
fbem-17288	122	31	)	)	PUNCT
fbem-17288	122	32	maximum	maximum	PROPN
fbem-17288	122	33	eigenvalue	eigenvalue	PROPN
fbem-17288	122	34	test	test	NOUN
fbem-17288	122	35	hypothesized	hypothesize	VERB
fbem-17288	122	36	no	no	ADP
fbem-17288	122	37	.	.	PUNCT
fbem-17288	122	38	of	of	ADP
fbem-17288	122	39	ce(s	ce(s	ADV
fbem-17288	122	40	)	)	PUNCT
fbem-17288	122	41	eigenvalue	eigenvalue	PROPN
fbem-17288	122	42	max	max	PROPN
fbem-17288	122	43	-	-	PUNCT
fbem-17288	122	44	eigen	eigen	PROPN
fbem-17288	122	45	statistic	statistic	NOUN
fbem-17288	122	46	0.05	0.05	NUM
fbem-17288	122	47	critical	critical	ADJ
fbem-17288	122	48	value	value	NOUN
fbem-17288	122	49	prob	prob	NOUN
fbem-17288	122	50	.	.	PUNCT
fbem-17288	123	1	*	*	PUNCT
fbem-17288	124	1	*	*	PUNCT
fbem-17288	125	1	none	none	NOUN
fbem-17288	125	2	*	*	PUNCT
fbem-17288	125	3	0.689336	0.689336	NUM
fbem-17288	125	4	38.57847	38.57847	NUM
fbem-17288	125	5	27.58434	27.58434	NUM
fbem-17288	125	6	0.0013	0.0013	NUM
fbem-17288	125	7	at	at	ADP
fbem-17288	125	8	most	most	ADJ
fbem-17288	125	9	1	1	NUM
fbem-17288	125	10	*	*	NUM
fbem-17288	125	11	0.571123	0.571123	NUM
fbem-17288	125	12	27.93728	27.93728	NUM
fbem-17288	125	13	21.13162	21.13162	NUM
fbem-17288	125	14	0.0047	0.0047	NUM
fbem-17288	125	15	at	at	ADP
fbem-17288	125	16	most	most	ADJ
fbem-17288	125	17	2	2	NUM
fbem-17288	125	18	0.293129	0.293129	NUM
fbem-17288	125	19	11.44793	11.44793	NUM
fbem-17288	125	20	14.26460	14.26460	NUM
fbem-17288	125	21	0.1331	0.1331	NUM
fbem-17288	125	22	at	at	ADP
fbem-17288	125	23	most	most	ADJ
fbem-17288	125	24	3	3	NUM
fbem-17288	125	25	0.004749	0.004749	NUM
fbem-17288	125	26	0.157084	0.157084	NUM
fbem-17288	125	27	3.841466	3.841466	NUM
fbem-17288	125	28	0.6919	0.6919	NUM
fbem-17288	125	29	the	the	DET
fbem-17288	125	30	johansen	johansen	PROPN
fbem-17288	125	31	test	test	NOUN
fbem-17288	125	32	results	result	NOUN
fbem-17288	125	33	,	,	PUNCT
fbem-17288	125	34	as	as	SCONJ
fbem-17288	125	35	presented	present	VERB
fbem-17288	125	36	in	in	ADP
fbem-17288	125	37	table	table	NOUN
fbem-17288	125	38	2	2	NUM
fbem-17288	125	39	,	,	PUNCT
fbem-17288	125	40	provide	provide	VERB
fbem-17288	125	41	valuable	valuable	ADJ
fbem-17288	125	42	insights	insight	NOUN
fbem-17288	125	43	into	into	ADP
fbem-17288	125	44	the	the	DET
fbem-17288	125	45	cointegration	cointegration	NOUN
fbem-17288	125	46	relationships	relationship	NOUN
fbem-17288	125	47	among	among	ADP
fbem-17288	125	48	the	the	DET
fbem-17288	125	49	variables	variable	NOUN
fbem-17288	125	50	lnfr	lnfr	PROPN
fbem-17288	125	51	,	,	PUNCT
fbem-17288	125	52	lner	lner	NOUN
fbem-17288	125	53	,	,	PUNCT
fbem-17288	125	54	lnfd	lnfd	NOUN
fbem-17288	125	55	,	,	PUNCT
fbem-17288	125	56	and	and	CCONJ
fbem-17288	125	57	lnim	lnim	NOUN
fbem-17288	125	58	.	.	PUNCT
fbem-17288	126	1	the	the	DET
fbem-17288	126	2	significance	significance	NOUN
fbem-17288	126	3	of	of	ADP
fbem-17288	126	4	these	these	DET
fbem-17288	126	5	results	result	NOUN
fbem-17288	126	6	is	be	AUX
fbem-17288	126	7	underscored	underscore	VERB
fbem-17288	126	8	by	by	ADP
fbem-17288	126	9	the	the	DET
fbem-17288	126	10	application	application	NOUN
fbem-17288	126	11	of	of	ADP
fbem-17288	126	12	both	both	CCONJ
fbem-17288	126	13	the	the	DET
fbem-17288	126	14	trace	trace	NOUN
fbem-17288	126	15	test	test	NOUN
fbem-17288	126	16	and	and	CCONJ
fbem-17288	126	17	the	the	DET
fbem-17288	126	18	maximum	maximum	PROPN
fbem-17288	126	19	eigenvalue	eigenvalue	PROPN
fbem-17288	126	20	test	test	NOUN
fbem-17288	126	21	,	,	PUNCT
fbem-17288	126	22	each	each	PRON
fbem-17288	126	23	contributing	contribute	VERB
fbem-17288	126	24	to	to	ADP
fbem-17288	126	25	the	the	DET
fbem-17288	126	26	determination	determination	NOUN
fbem-17288	126	27	of	of	ADP
fbem-17288	126	28	the	the	DET
fbem-17288	126	29	number	number	NOUN
fbem-17288	126	30	of	of	ADP
fbem-17288	126	31	cointegration	cointegration	NOUN
fbem-17288	126	32	equations.the	equations.the	DET
fbem-17288	126	33	trace	trace	NOUN
fbem-17288	126	34	test	test	NOUN
fbem-17288	126	35	reveals	reveal	VERB
fbem-17288	126	36	a	a	DET
fbem-17288	126	37	trace	trace	NOUN
fbem-17288	126	38	statistic	statistic	NOUN
fbem-17288	126	39	of	of	ADP
fbem-17288	126	40	39.54229	39.54229	NUM
fbem-17288	126	41	,	,	PUNCT
fbem-17288	126	42	surpassing	surpass	VERB
fbem-17288	126	43	the	the	DET
fbem-17288	126	44	5	5	NUM
fbem-17288	126	45	%	%	NOUN
fbem-17288	126	46	critical	critical	ADJ
fbem-17288	126	47	value	value	NOUN
fbem-17288	126	48	of	of	ADP
fbem-17288	126	49	29.79707	29.79707	NUM
fbem-17288	126	50	at	at	ADP
fbem-17288	126	51	a	a	DET
fbem-17288	126	52	5	5	NUM
fbem-17288	126	53	%	%	NOUN
fbem-17288	126	54	confidence	confidence	NOUN
fbem-17288	126	55	level	level	NOUN
fbem-17288	126	56	.	.	PUNCT
fbem-17288	127	1	this	this	PRON
fbem-17288	127	2	leads	lead	VERB
fbem-17288	127	3	to	to	ADP
fbem-17288	127	4	the	the	DET
fbem-17288	127	5	rejection	rejection	NOUN
fbem-17288	127	6	of	of	ADP
fbem-17288	127	7	the	the	DET
fbem-17288	127	8	null	null	ADJ
fbem-17288	127	9	hypothesis	hypothesis	NOUN
fbem-17288	127	10	that	that	PRON
fbem-17288	127	11	posits	posit	VERB
fbem-17288	127	12	at	at	ADP
fbem-17288	127	13	most	most	ADJ
fbem-17288	127	14	1	1	NUM
fbem-17288	127	15	cointegration	cointegration	NOUN
fbem-17288	127	16	equation	equation	NOUN
fbem-17288	127	17	.	.	PUNCT
fbem-17288	128	1	the	the	DET
fbem-17288	128	2	outcome	outcome	NOUN
fbem-17288	128	3	implies	imply	VERB
fbem-17288	128	4	the	the	DET
fbem-17288	128	5	presence	presence	NOUN
fbem-17288	128	6	of	of	ADP
fbem-17288	128	7	at	at	ADV
fbem-17288	128	8	least	least	ADJ
fbem-17288	128	9	2	2	NUM
fbem-17288	128	10	cointegration	cointegration	NOUN
fbem-17288	128	11	equations	equation	NOUN
fbem-17288	128	12	,	,	PUNCT
fbem-17288	128	13	suggesting	suggest	VERB
fbem-17288	128	14	a	a	DET
fbem-17288	128	15	more	more	ADV
fbem-17288	128	16	complex	complex	ADJ
fbem-17288	128	17	relationship	relationship	NOUN
fbem-17288	128	18	structure	structure	NOUN
fbem-17288	128	19	among	among	ADP
fbem-17288	128	20	the	the	DET
fbem-17288	128	21	variables	variable	NOUN
fbem-17288	128	22	under	under	ADP
fbem-17288	128	23	consideration.similarly	consideration.similarly	ADV
fbem-17288	128	24	,	,	PUNCT
fbem-17288	128	25	the	the	DET
fbem-17288	128	26	maximum	maximum	PROPN
fbem-17288	128	27	eigenvalue	eigenvalue	PROPN
fbem-17288	128	28	test	test	NOUN
fbem-17288	128	29	results	result	NOUN
fbem-17288	128	30	in	in	ADP
fbem-17288	128	31	a	a	DET
fbem-17288	128	32	maximum	maximum	ADJ
fbem-17288	128	33	eigenvalue	eigenvalue	ADJ
fbem-17288	128	34	statistic	statistic	NOUN
fbem-17288	128	35	of	of	ADP
fbem-17288	128	36	27.93728	27.93728	NUM
fbem-17288	128	37	,	,	PUNCT
fbem-17288	128	38	which	which	PRON
fbem-17288	128	39	exceeds	exceed	VERB
fbem-17288	128	40	the	the	DET
fbem-17288	128	41	5	5	NUM
fbem-17288	128	42	%	%	NOUN
fbem-17288	128	43	critical	critical	ADJ
fbem-17288	128	44	value	value	NOUN
fbem-17288	128	45	of	of	ADP
fbem-17288	128	46	21.13162	21.13162	NUM
fbem-17288	128	47	.	.	PUNCT
fbem-17288	129	1	this	this	DET
fbem-17288	129	2	outcome	outcome	NOUN
fbem-17288	129	3	leads	lead	VERB
fbem-17288	129	4	to	to	ADP
fbem-17288	129	5	rejecting	reject	VERB
fbem-17288	129	6	the	the	DET
fbem-17288	129	7	null	null	ADJ
fbem-17288	129	8	hypothesis	hypothesis	NOUN
fbem-17288	129	9	of	of	ADP
fbem-17288	129	10	at	at	ADP
fbem-17288	129	11	most	most	ADJ
fbem-17288	129	12	1	1	NUM
fbem-17288	129	13	cointegration	cointegration	NOUN
fbem-17288	129	14	equation	equation	NOUN
fbem-17288	129	15	,	,	PUNCT
fbem-17288	129	16	providing	provide	VERB
fbem-17288	129	17	additional	additional	ADJ
fbem-17288	129	18	support	support	NOUN
fbem-17288	129	19	for	for	ADP
fbem-17288	129	20	the	the	DET
fbem-17288	129	21	existence	existence	NOUN
fbem-17288	129	22	of	of	ADP
fbem-17288	129	23	at	at	ADV
fbem-17288	129	24	least	least	ADJ
fbem-17288	129	25	2	2	NUM
fbem-17288	129	26	cointegration	cointegration	NOUN
fbem-17288	129	27	equations	equation	NOUN
fbem-17288	129	28	.	.	PUNCT
fbem-17288	130	1	the	the	DET
fbem-17288	130	2	consistency	consistency	NOUN
fbem-17288	130	3	between	between	ADP
fbem-17288	130	4	the	the	DET
fbem-17288	130	5	trace	trace	NOUN
fbem-17288	130	6	test	test	NOUN
fbem-17288	130	7	and	and	CCONJ
fbem-17288	130	8	the	the	DET
fbem-17288	130	9	maximum	maximum	PROPN
fbem-17288	130	10	eigenvalue	eigenvalue	PROPN
fbem-17288	130	11	test	test	NOUN
fbem-17288	130	12	reinforces	reinforce	VERB
fbem-17288	130	13	the	the	DET
fbem-17288	130	14	robustness	robustness	NOUN
fbem-17288	130	15	of	of	ADP
fbem-17288	130	16	the	the	DET
fbem-17288	130	17	findings	finding	NOUN
fbem-17288	130	18	and	and	CCONJ
fbem-17288	130	19	strengthens	strengthen	VERB
fbem-17288	130	20	the	the	DET
fbem-17288	130	21	case	case	NOUN
fbem-17288	130	22	for	for	ADP
fbem-17288	130	23	multiple	multiple	ADJ
fbem-17288	130	24	cointegration	cointegration	NOUN
fbem-17288	130	25	relationships	relationship	NOUN
fbem-17288	130	26	.	.	PUNCT
fbem-17288	131	1	the	the	DET
fbem-17288	131	2	conclusion	conclusion	NOUN
fbem-17288	131	3	drawn	draw	VERB
fbem-17288	131	4	from	from	ADP
fbem-17288	131	5	these	these	DET
fbem-17288	131	6	tests	test	NOUN
fbem-17288	131	7	is	be	AUX
fbem-17288	131	8	that	that	SCONJ
fbem-17288	131	9	there	there	PRON
fbem-17288	131	10	are	be	VERB
fbem-17288	131	11	at	at	ADV
fbem-17288	131	12	least	least	ADJ
fbem-17288	131	13	2	2	NUM
fbem-17288	131	14	cointegration	cointegration	NOUN
fbem-17288	131	15	relationships	relationship	NOUN
fbem-17288	131	16	among	among	ADP
fbem-17288	131	17	lnfr	lnfr	PROPN
fbem-17288	131	18	,	,	PUNCT
fbem-17288	131	19	lner	lner	NOUN
fbem-17288	131	20	,	,	PUNCT
fbem-17288	131	21	lnfd	lnfd	NOUN
fbem-17288	131	22	,	,	PUNCT
fbem-17288	131	23	and	and	CCONJ
fbem-17288	131	24	lnim	lnim	NOUN
fbem-17288	131	25	.	.	PUNCT
fbem-17288	132	1	this	this	PRON
fbem-17288	132	2	signifies	signify	VERB
fbem-17288	132	3	stable	stable	ADJ
fbem-17288	132	4	long	long	ADJ
fbem-17288	132	5	-	-	PUNCT
fbem-17288	132	6	term	term	NOUN
fbem-17288	132	7	relationships	relationship	NOUN
fbem-17288	132	8	extending	extend	VERB
fbem-17288	132	9	beyond	beyond	ADP
fbem-17288	132	10	transient	transient	ADJ
fbem-17288	132	11	,	,	PUNCT
fbem-17288	132	12	short	short	ADJ
fbem-17288	132	13	-	-	PUNCT
fbem-17288	132	14	term	term	NOUN
fbem-17288	132	15	associations	association	NOUN
fbem-17288	132	16	.	.	PUNCT
fbem-17288	133	1	understanding	understand	VERB
fbem-17288	133	2	these	these	DET
fbem-17288	133	3	cointegration	cointegration	NOUN
fbem-17288	133	4	relationships	relationship	NOUN
fbem-17288	133	5	is	be	AUX
fbem-17288	133	6	crucial	crucial	ADJ
fbem-17288	133	7	for	for	ADP
fbem-17288	133	8	unraveling	unravel	VERB
fbem-17288	133	9	the	the	DET
fbem-17288	133	10	intricate	intricate	ADJ
fbem-17288	133	11	web	web	NOUN
fbem-17288	133	12	of	of	ADP
fbem-17288	133	13	interactions	interaction	NOUN
fbem-17288	133	14	and	and	CCONJ
fbem-17288	133	15	interdependencies	interdependency	NOUN
fbem-17288	133	16	among	among	ADP
fbem-17288	133	17	the	the	DET
fbem-17288	133	18	variables	variable	NOUN
fbem-17288	133	19	.	.	PUNCT
fbem-17288	134	1	the	the	DET
fbem-17288	134	2	inclusion	inclusion	NOUN
fbem-17288	134	3	of	of	ADP
fbem-17288	134	4	foreign	foreign	ADJ
fbem-17288	134	5	exchange	exchange	NOUN
fbem-17288	134	6	reserves	reserve	NOUN
fbem-17288	134	7	,	,	PUNCT
fbem-17288	134	8	exchange	exchange	NOUN
fbem-17288	134	9	rates	rate	NOUN
fbem-17288	134	10	,	,	PUNCT
fbem-17288	134	11	external	external	ADJ
fbem-17288	134	12	debt	debt	NOUN
fbem-17288	134	13	,	,	PUNCT
fbem-17288	134	14	and	and	CCONJ
fbem-17288	134	15	total	total	ADJ
fbem-17288	134	16	imports	import	NOUN
fbem-17288	134	17	in	in	ADP
fbem-17288	134	18	these	these	DET
fbem-17288	134	19	relationships	relationship	NOUN
fbem-17288	134	20	suggests	suggest	VERB
fbem-17288	134	21	a	a	DET
fbem-17288	134	22	comprehensive	comprehensive	ADJ
fbem-17288	134	23	analysis	analysis	NOUN
fbem-17288	134	24	that	that	PRON
fbem-17288	134	25	spans	span	VERB
fbem-17288	134	26	key	key	ADJ
fbem-17288	134	27	economic	economic	ADJ
fbem-17288	134	28	indicators.moreover	indicators.moreover	ADV
fbem-17288	134	29	,	,	PUNCT
fbem-17288	134	30	recognizing	recognize	VERB
fbem-17288	134	31	the	the	DET
fbem-17288	134	32	stability	stability	NOUN
fbem-17288	134	33	of	of	ADP
fbem-17288	134	34	these	these	DET
fbem-17288	134	35	long	long	ADJ
fbem-17288	134	36	-	-	PUNCT
fbem-17288	134	37	term	term	NOUN
fbem-17288	134	38	relationships	relationship	NOUN
fbem-17288	134	39	is	be	AUX
fbem-17288	134	40	essential	essential	ADJ
fbem-17288	134	41	for	for	ADP
fbem-17288	134	42	comprehending	comprehend	VERB
fbem-17288	134	43	the	the	DET
fbem-17288	134	44	enduring	endure	VERB
fbem-17288	134	45	impacts	impact	NOUN
fbem-17288	134	46	on	on	ADP
fbem-17288	134	47	the	the	DET
fbem-17288	134	48	economic	economic	ADJ
fbem-17288	134	49	system	system	NOUN
fbem-17288	134	50	.	.	PUNCT
fbem-17288	135	1	whether	whether	SCONJ
fbem-17288	135	2	it	it	PRON
fbem-17288	135	3	's	be	AUX
fbem-17288	135	4	the	the	DET
fbem-17288	135	5	influence	influence	NOUN
fbem-17288	135	6	of	of	ADP
fbem-17288	135	7	exchange	exchange	NOUN
fbem-17288	135	8	rates	rate	NOUN
fbem-17288	135	9	on	on	ADP
fbem-17288	135	10	foreign	foreign	ADJ
fbem-17288	135	11	exchange	exchange	NOUN
fbem-17288	135	12	reserves	reserve	NOUN
fbem-17288	135	13	,	,	PUNCT
fbem-17288	135	14	the	the	DET
fbem-17288	135	15	role	role	NOUN
fbem-17288	135	16	of	of	ADP
fbem-17288	135	17	external	external	ADJ
fbem-17288	135	18	debt	debt	NOUN
fbem-17288	135	19	in	in	ADP
fbem-17288	135	20	shaping	shape	VERB
fbem-17288	135	21	these	these	DET
fbem-17288	135	22	relationships	relationship	NOUN
fbem-17288	135	23	,	,	PUNCT
fbem-17288	135	24	or	or	CCONJ
fbem-17288	135	25	the	the	DET
fbem-17288	135	26	contribution	contribution	NOUN
fbem-17288	135	27	of	of	ADP
fbem-17288	135	28	total	total	ADJ
fbem-17288	135	29	imports	import	NOUN
fbem-17288	135	30	to	to	ADP
fbem-17288	135	31	the	the	DET
fbem-17288	135	32	overall	overall	ADJ
fbem-17288	135	33	economic	economic	ADJ
fbem-17288	135	34	dynamics	dynamic	NOUN
fbem-17288	135	35	,	,	PUNCT
fbem-17288	135	36	the	the	DET
fbem-17288	135	37	identified	identify	VERB
fbem-17288	135	38	cointegration	cointegration	NOUN
fbem-17288	135	39	relationships	relationship	NOUN
fbem-17288	135	40	provide	provide	VERB
fbem-17288	135	41	a	a	DET
fbem-17288	135	42	foundation	foundation	NOUN
fbem-17288	135	43	for	for	ADP
fbem-17288	135	44	policymakers	policymaker	NOUN
fbem-17288	135	45	and	and	CCONJ
fbem-17288	135	46	researchers	researcher	NOUN
fbem-17288	135	47	to	to	PART
fbem-17288	135	48	formulate	formulate	VERB
fbem-17288	135	49	informed	informed	ADJ
fbem-17288	135	50	strategies	strategy	NOUN
fbem-17288	135	51	and	and	CCONJ
fbem-17288	135	52	policies	policy	NOUN
fbem-17288	135	53	.	.	PUNCT
fbem-17288	136	1	in	in	ADP
fbem-17288	136	2	conclusion	conclusion	NOUN
fbem-17288	136	3	,	,	PUNCT
fbem-17288	136	4	the	the	DET
fbem-17288	136	5	johansen	johansen	PROPN
fbem-17288	136	6	test	test	NOUN
fbem-17288	136	7	results	result	NOUN
fbem-17288	136	8	underscore	underscore	VERB
fbem-17288	136	9	the	the	DET
fbem-17288	136	10	presence	presence	NOUN
fbem-17288	136	11	of	of	ADP
fbem-17288	136	12	at	at	ADV
fbem-17288	136	13	least	least	ADJ
fbem-17288	136	14	2	2	NUM
fbem-17288	136	15	cointegration	cointegration	NOUN
fbem-17288	136	16	relationships	relationship	NOUN
fbem-17288	136	17	among	among	ADP
fbem-17288	136	18	lnfr	lnfr	PROPN
fbem-17288	136	19	,	,	PUNCT
fbem-17288	136	20	lner	lner	NOUN
fbem-17288	136	21	,	,	PUNCT
fbem-17288	136	22	lnfd	lnfd	NOUN
fbem-17288	136	23	,	,	PUNCT
fbem-17288	136	24	and	and	CCONJ
fbem-17288	136	25	lnim	lnim	NOUN
fbem-17288	136	26	,	,	PUNCT
fbem-17288	136	27	indicating	indicate	VERB
fbem-17288	136	28	stable	stable	ADJ
fbem-17288	136	29	long	long	ADJ
fbem-17288	136	30	-	-	PUNCT
fbem-17288	136	31	term	term	NOUN
fbem-17288	136	32	associations	association	NOUN
fbem-17288	136	33	.	.	PUNCT
fbem-17288	137	1	3.4	3.4	NUM
fbem-17288	137	2	selection	selection	NOUN
fbem-17288	137	3	of	of	ADP
fbem-17288	137	4	optimal	optimal	ADJ
fbem-17288	137	5	lag	lag	NOUN
fbem-17288	137	6	length	length	NOUN
fbem-17288	137	7	the	the	DET
fbem-17288	137	8	selection	selection	NOUN
fbem-17288	137	9	of	of	ADP
fbem-17288	137	10	an	an	DET
fbem-17288	137	11	optimal	optimal	ADJ
fbem-17288	137	12	lag	lag	NOUN
fbem-17288	137	13	length	length	NOUN
fbem-17288	137	14	is	be	AUX
fbem-17288	137	15	a	a	DET
fbem-17288	137	16	crucial	crucial	ADJ
fbem-17288	137	17	step	step	NOUN
fbem-17288	137	18	in	in	ADP
fbem-17288	137	19	modeling	modeling	NOUN
fbem-17288	137	20	time	time	NOUN
fbem-17288	137	21	series	series	PROPN
fbem-17288	137	22	data	data	PROPN
fbem-17288	137	23	,	,	PUNCT
fbem-17288	137	24	and	and	CCONJ
fbem-17288	137	25	this	this	DET
fbem-17288	137	26	article	article	NOUN
fbem-17288	137	27	employs	employ	VERB
fbem-17288	137	28	five	five	NUM
fbem-17288	137	29	widely	widely	ADV
fbem-17288	137	30	-	-	PUNCT
fbem-17288	137	31	used	use	VERB
fbem-17288	137	32	criteria	criterion	NOUN
fbem-17288	137	33	to	to	PART
fbem-17288	137	34	determine	determine	VERB
fbem-17288	137	35	the	the	DET
fbem-17288	137	36	most	most	ADV
fbem-17288	137	37	suitable	suitable	ADJ
fbem-17288	137	38	lag	lag	NOUN
fbem-17288	137	39	structure	structure	NOUN
fbem-17288	137	40	for	for	ADP
fbem-17288	137	41	the	the	DET
fbem-17288	137	42	unconstrained	unconstrained	ADJ
fbem-17288	137	43	vector	vector	NOUN
fbem-17288	137	44	autoregressive	autoregressive	ADJ
fbem-17288	137	45	(	(	PUNCT
fbem-17288	137	46	var	var	NOUN
fbem-17288	137	47	)	)	PUNCT
fbem-17288	137	48	104	104	NUM
fbem-17288	137	49	model	model	NOUN
fbem-17288	137	50	.	.	PUNCT
fbem-17288	138	1	the	the	DET
fbem-17288	138	2	criteria	criterion	NOUN
fbem-17288	138	3	utilized	utilize	VERB
fbem-17288	138	4	for	for	ADP
fbem-17288	138	5	this	this	DET
fbem-17288	138	6	purpose	purpose	NOUN
fbem-17288	138	7	are	be	AUX
fbem-17288	138	8	lr	lr	X
fbem-17288	138	9	(	(	PUNCT
fbem-17288	138	10	likelihood	likelihood	NOUN
fbem-17288	138	11	ratio	ratio	NOUN
fbem-17288	138	12	)	)	PUNCT
fbem-17288	138	13	,	,	PUNCT
fbem-17288	138	14	fpe	fpe	PROPN
fbem-17288	138	15	(	(	PUNCT
fbem-17288	138	16	final	final	ADJ
fbem-17288	138	17	prediction	prediction	NOUN
fbem-17288	138	18	error	error	NOUN
fbem-17288	138	19	)	)	PUNCT
fbem-17288	138	20	,	,	PUNCT
fbem-17288	138	21	aic	aic	PROPN
fbem-17288	138	22	(	(	PUNCT
fbem-17288	138	23	akaike	akaike	ADJ
fbem-17288	138	24	information	information	NOUN
fbem-17288	138	25	criterion	criterion	NOUN
fbem-17288	138	26	)	)	PUNCT
fbem-17288	138	27	,	,	PUNCT
fbem-17288	138	28	sc	sc	PROPN
fbem-17288	138	29	(	(	PUNCT
fbem-17288	138	30	schwarz	schwarz	NOUN
fbem-17288	138	31	criterion	criterion	NOUN
fbem-17288	138	32	)	)	PUNCT
fbem-17288	138	33	,	,	PUNCT
fbem-17288	138	34	and	and	CCONJ
fbem-17288	138	35	hq	hq	INTJ
fbem-17288	138	36	(	(	PUNCT
fbem-17288	138	37	hannan	hannan	PROPN
fbem-17288	138	38	-	-	PUNCT
fbem-17288	138	39	quinn	quinn	PROPN
fbem-17288	138	40	criterion	criterion	NOUN
fbem-17288	138	41	)	)	PUNCT
fbem-17288	138	42	.	.	PUNCT
fbem-17288	139	1	each	each	PRON
fbem-17288	139	2	of	of	ADP
fbem-17288	139	3	these	these	DET
fbem-17288	139	4	criteria	criterion	NOUN
fbem-17288	139	5	offers	offer	VERB
fbem-17288	139	6	a	a	DET
fbem-17288	139	7	different	different	ADJ
fbem-17288	139	8	perspective	perspective	NOUN
fbem-17288	139	9	on	on	ADP
fbem-17288	139	10	model	model	NOUN
fbem-17288	139	11	selection	selection	NOUN
fbem-17288	139	12	,	,	PUNCT
fbem-17288	139	13	and	and	CCONJ
fbem-17288	139	14	their	their	PRON
fbem-17288	139	15	combined	combine	VERB
fbem-17288	139	16	application	application	NOUN
fbem-17288	139	17	provides	provide	VERB
fbem-17288	139	18	a	a	DET
fbem-17288	139	19	comprehensive	comprehensive	ADJ
fbem-17288	139	20	approach	approach	NOUN
fbem-17288	139	21	to	to	ADP
fbem-17288	139	22	identifying	identify	VERB
fbem-17288	139	23	the	the	DET
fbem-17288	139	24	lag	lag	NOUN
fbem-17288	139	25	length	length	NOUN
fbem-17288	139	26	that	that	PRON
fbem-17288	139	27	best	well	ADV
fbem-17288	139	28	captures	capture	VERB
fbem-17288	139	29	the	the	DET
fbem-17288	139	30	underlying	underlie	VERB
fbem-17288	139	31	dynamics	dynamic	NOUN
fbem-17288	139	32	of	of	ADP
fbem-17288	139	33	the	the	DET
fbem-17288	139	34	data.the	data.the	DET
fbem-17288	139	35	likelihood	likelihood	NOUN
fbem-17288	139	36	ratio	ratio	NOUN
fbem-17288	139	37	(	(	PUNCT
fbem-17288	139	38	lr	lr	NOUN
fbem-17288	139	39	)	)	PUNCT
fbem-17288	139	40	criterion	criterion	NOUN
fbem-17288	139	41	compares	compare	VERB
fbem-17288	139	42	the	the	DET
fbem-17288	139	43	likelihoods	likelihood	NOUN
fbem-17288	139	44	of	of	ADP
fbem-17288	139	45	the	the	DET
fbem-17288	139	46	model	model	NOUN
fbem-17288	139	47	with	with	ADP
fbem-17288	139	48	different	different	ADJ
fbem-17288	139	49	lag	lag	NOUN
fbem-17288	139	50	lengths	length	NOUN
fbem-17288	139	51	,	,	PUNCT
fbem-17288	139	52	assessing	assess	VERB
fbem-17288	139	53	how	how	SCONJ
fbem-17288	139	54	well	well	ADV
fbem-17288	139	55	each	each	DET
fbem-17288	139	56	model	model	NOUN
fbem-17288	139	57	fits	fit	VERB
fbem-17288	139	58	the	the	DET
fbem-17288	139	59	data	datum	NOUN
fbem-17288	139	60	.	.	PUNCT
fbem-17288	140	1	the	the	DET
fbem-17288	140	2	fpe	fpe	PROPN
fbem-17288	140	3	criterion	criterion	NOUN
fbem-17288	140	4	evaluates	evaluate	VERB
fbem-17288	140	5	the	the	DET
fbem-17288	140	6	predictive	predictive	ADJ
fbem-17288	140	7	performance	performance	NOUN
fbem-17288	140	8	of	of	ADP
fbem-17288	140	9	the	the	DET
fbem-17288	140	10	model	model	NOUN
fbem-17288	140	11	by	by	ADP
fbem-17288	140	12	considering	consider	VERB
fbem-17288	140	13	the	the	DET
fbem-17288	140	14	final	final	ADJ
fbem-17288	140	15	prediction	prediction	NOUN
fbem-17288	140	16	error	error	NOUN
fbem-17288	140	17	.	.	PUNCT
fbem-17288	141	1	a	a	DET
fbem-17288	141	2	lower	low	ADJ
fbem-17288	141	3	fpe	fpe	NOUN
fbem-17288	141	4	indicates	indicate	VERB
fbem-17288	141	5	a	a	DET
fbem-17288	141	6	better	well	ADJ
fbem-17288	141	7	fit	fit	NOUN
fbem-17288	141	8	of	of	ADP
fbem-17288	141	9	the	the	DET
fbem-17288	141	10	model	model	NOUN
fbem-17288	141	11	to	to	ADP
fbem-17288	141	12	the	the	DET
fbem-17288	141	13	data	datum	NOUN
fbem-17288	141	14	.	.	PUNCT
fbem-17288	142	1	aic	aic	PROPN
fbem-17288	142	2	,	,	PUNCT
fbem-17288	142	3	sc	sc	PROPN
fbem-17288	142	4	,	,	PUNCT
fbem-17288	142	5	and	and	CCONJ
fbem-17288	142	6	hq	hq	PROPN
fbem-17288	142	7	are	be	AUX
fbem-17288	142	8	information	information	NOUN
fbem-17288	142	9	criteria	criterion	NOUN
fbem-17288	142	10	that	that	PRON
fbem-17288	142	11	balance	balance	VERB
fbem-17288	142	12	the	the	DET
fbem-17288	142	13	goodness	goodness	NOUN
fbem-17288	142	14	of	of	ADP
fbem-17288	142	15	fit	fit	NOUN
fbem-17288	142	16	with	with	ADP
fbem-17288	142	17	the	the	DET
fbem-17288	142	18	complexity	complexity	NOUN
fbem-17288	142	19	of	of	ADP
fbem-17288	142	20	the	the	DET
fbem-17288	142	21	model	model	NOUN
fbem-17288	142	22	.	.	PUNCT
fbem-17288	143	1	aic	aic	PROPN
fbem-17288	143	2	penalizes	penalizes	PROPN
fbem-17288	143	3	models	model	NOUN
fbem-17288	143	4	for	for	ADP
fbem-17288	143	5	additional	additional	ADJ
fbem-17288	143	6	parameters	parameter	NOUN
fbem-17288	143	7	,	,	PUNCT
fbem-17288	143	8	sc	sc	PROPN
fbem-17288	143	9	incorporates	incorporate	VERB
fbem-17288	143	10	a	a	DET
fbem-17288	143	11	larger	large	ADJ
fbem-17288	143	12	penalty	penalty	NOUN
fbem-17288	143	13	for	for	ADP
fbem-17288	143	14	complexity	complexity	NOUN
fbem-17288	143	15	,	,	PUNCT
fbem-17288	143	16	and	and	CCONJ
fbem-17288	143	17	hq	hq	NOUN
fbem-17288	143	18	provides	provide	VERB
fbem-17288	143	19	a	a	DET
fbem-17288	143	20	compromise	compromise	NOUN
fbem-17288	143	21	between	between	ADP
fbem-17288	143	22	goodness	goodness	NOUN
fbem-17288	143	23	of	of	ADP
fbem-17288	143	24	fit	fit	ADJ
fbem-17288	143	25	and	and	CCONJ
fbem-17288	143	26	model	model	NOUN
fbem-17288	143	27	complexity	complexity	NOUN
fbem-17288	143	28	.	.	PUNCT
fbem-17288	144	1	table	table	NOUN
fbem-17288	144	2	3	3	NUM
fbem-17288	144	3	presents	present	VERB
fbem-17288	144	4	the	the	DET
fbem-17288	144	5	results	result	NOUN
fbem-17288	144	6	of	of	ADP
fbem-17288	144	7	applying	apply	VERB
fbem-17288	144	8	these	these	DET
fbem-17288	144	9	criteria	criterion	NOUN
fbem-17288	144	10	to	to	ADP
fbem-17288	144	11	the	the	DET
fbem-17288	144	12	unconstrained	unconstrained	ADJ
fbem-17288	144	13	var	var	NOUN
fbem-17288	144	14	model	model	NOUN
fbem-17288	144	15	,	,	PUNCT
fbem-17288	144	16	showcasing	showcase	VERB
fbem-17288	144	17	the	the	DET
fbem-17288	144	18	evaluation	evaluation	NOUN
fbem-17288	144	19	of	of	ADP
fbem-17288	144	20	various	various	ADJ
fbem-17288	144	21	lag	lag	NOUN
fbem-17288	144	22	lengths	length	NOUN
fbem-17288	144	23	.	.	PUNCT
fbem-17288	145	1	table	table	NOUN
fbem-17288	145	2	3	3	NUM
fbem-17288	145	3	.	.	X
fbem-17288	146	1	optimal	optimal	ADJ
fbem-17288	146	2	lag	lag	NOUN
fbem-17288	146	3	length	length	NOUN
fbem-17288	146	4	for	for	ADP
fbem-17288	146	5	var	var	NOUN
fbem-17288	146	6	model	model	PROPN
fbem-17288	146	7	lag	lag	NOUN
fbem-17288	146	8	logl	logl	PROPN
fbem-17288	146	9	lr	lr	PROPN
fbem-17288	146	10	fpe	fpe	PROPN
fbem-17288	146	11	aic	aic	PROPN
fbem-17288	146	12	sc	sc	PROPN
fbem-17288	146	13	hq	hq	PROPN
fbem-17288	146	14	0	0	NUM
fbem-17288	146	15	-68.92232	-68.92232	PUNCT
fbem-17288	146	16	na	na	ADP
fbem-17288	146	17	0.000857	0.000857	NUM
fbem-17288	146	18	4.289548	4.289548	NUM
fbem-17288	146	19	4.469120	4.469120	NUM
fbem-17288	146	20	4.350788	4.350788	NUM
fbem-17288	146	21	1	1	NUM
fbem-17288	146	22	110.9294	110.9294	NUM
fbem-17288	146	23	306.8058	306.8058	NUM
fbem-17288	146	24	5.63e-08	5.63e-08	NUM
fbem-17288	146	25	-5.348787	-5.348787	NOUN
fbem-17288	146	26	-4.450928	-4.450928	PROPN
fbem-17288	146	27	*	*	PUNCT
fbem-17288	147	1	-5.042591	-5.042591	NOUN
fbem-17288	147	2	*	*	PUNCT
fbem-17288	147	3	2	2	NUM
fbem-17288	147	4	120.8212	120.8212	NUM
fbem-17288	147	5	14.54680	14.54680	NUM
fbem-17288	147	6	8.43e-08	8.43e-08	NUM
fbem-17288	147	7	-4.989482	-4.989482	ADJ
fbem-17288	147	8	-3.373336	-3.373336	NOUN
fbem-17288	147	9	-4.438330	-4.438330	PROPN
fbem-17288	148	1	3	3	NUM
fbem-17288	148	2	148.5393	148.5393	NUM
fbem-17288	148	3	34.23996	34.23996	NUM
fbem-17288	148	4	*	*	NOUN
fbem-17288	148	5	4.73e-08	4.73e-08	NUM
fbem-17288	148	6	*	*	PUNCT
fbem-17288	148	7	-5.678780	-5.678780	PROPN
fbem-17288	148	8	*	*	PUNCT
fbem-17288	148	9	-3.344346	-3.344346	PROPN
fbem-17288	148	10	-4.882671	-4.882671	VERB
fbem-17288	148	11	through	through	ADP
fbem-17288	148	12	the	the	DET
fbem-17288	148	13	analysis	analysis	NOUN
fbem-17288	148	14	of	of	ADP
fbem-17288	148	15	table	table	NOUN
fbem-17288	148	16	3	3	NUM
fbem-17288	148	17	,	,	PUNCT
fbem-17288	148	18	we	we	PRON
fbem-17288	148	19	observe	observe	VERB
fbem-17288	148	20	that	that	SCONJ
fbem-17288	148	21	both	both	DET
fbem-17288	148	22	lr	lr	NOUN
fbem-17288	148	23	test	test	NOUN
fbem-17288	148	24	,	,	PUNCT
fbem-17288	148	25	fpe	fpe	PROPN
fbem-17288	148	26	test	test	NOUN
fbem-17288	148	27	,	,	PUNCT
fbem-17288	148	28	and	and	CCONJ
fbem-17288	148	29	aic	aic	PROPN
fbem-17288	148	30	information	information	NOUN
fbem-17288	148	31	criteria	criterion	NOUN
fbem-17288	148	32	all	all	PRON
fbem-17288	148	33	lean	lean	VERB
fbem-17288	148	34	towards	towards	ADP
fbem-17288	148	35	selecting	select	VERB
fbem-17288	148	36	a	a	DET
fbem-17288	148	37	lag	lag	NOUN
fbem-17288	148	38	of	of	ADP
fbem-17288	148	39	3	3	NUM
fbem-17288	148	40	.	.	PUNCT
fbem-17288	149	1	therefore	therefore	ADV
fbem-17288	149	2	,	,	PUNCT
fbem-17288	149	3	based	base	VERB
fbem-17288	149	4	on	on	ADP
fbem-17288	149	5	these	these	DET
fbem-17288	149	6	evaluation	evaluation	NOUN
fbem-17288	149	7	criteria	criterion	NOUN
fbem-17288	149	8	,	,	PUNCT
fbem-17288	149	9	we	we	PRON
fbem-17288	149	10	conclude	conclude	VERB
fbem-17288	149	11	that	that	SCONJ
fbem-17288	149	12	the	the	DET
fbem-17288	149	13	optimal	optimal	ADJ
fbem-17288	149	14	lag	lag	NOUN
fbem-17288	149	15	order	order	NOUN
fbem-17288	149	16	for	for	ADP
fbem-17288	149	17	the	the	DET
fbem-17288	149	18	var	var	NOUN
fbem-17288	149	19	model	model	NOUN
fbem-17288	149	20	is	be	AUX
fbem-17288	149	21	3	3	NUM
fbem-17288	149	22	.	.	NOUN
fbem-17288	149	23	3.5	3.5	NUM
fbem-17288	149	24	ar	ar	NOUN
fbem-17288	149	25	characteristic	characteristic	ADJ
fbem-17288	149	26	root	root	NOUN
fbem-17288	149	27	test	test	NOUN
fbem-17288	149	28	figure	figure	NOUN
fbem-17288	149	29	1	1	NUM
fbem-17288	149	30	.	.	PUNCT
fbem-17288	149	31	ar	ar	PROPN
fbem-17288	149	32	characteristic	characteristic	ADJ
fbem-17288	149	33	root	root	PROPN
fbem-17288	149	34	test	test	NOUN
fbem-17288	149	35	the	the	DET
fbem-17288	149	36	stability	stability	NOUN
fbem-17288	149	37	assessment	assessment	NOUN
fbem-17288	149	38	of	of	ADP
fbem-17288	149	39	the	the	DET
fbem-17288	149	40	var	var	NOUN
fbem-17288	149	41	model	model	NOUN
fbem-17288	149	42	,	,	PUNCT
fbem-17288	149	43	conducted	conduct	VERB
fbem-17288	149	44	through	through	ADP
fbem-17288	149	45	the	the	DET
fbem-17288	149	46	reciprocal	reciprocal	ADJ
fbem-17288	149	47	method	method	NOUN
fbem-17288	149	48	of	of	ADP
fbem-17288	149	49	analyzing	analyze	VERB
fbem-17288	149	50	the	the	DET
fbem-17288	149	51	ar	ar	NOUN
fbem-17288	149	52	characteristic	characteristic	ADJ
fbem-17288	149	53	polynomial	polynomial	ADJ
fbem-17288	149	54	roots	root	NOUN
fbem-17288	149	55	,	,	PUNCT
fbem-17288	149	56	yields	yield	VERB
fbem-17288	149	57	a	a	DET
fbem-17288	149	58	crucial	crucial	ADJ
fbem-17288	149	59	insight	insight	NOUN
fbem-17288	149	60	.	.	PUNCT
fbem-17288	150	1	as	as	SCONJ
fbem-17288	150	2	depicted	depict	VERB
fbem-17288	150	3	in	in	ADP
fbem-17288	150	4	figure	figure	NOUN
fbem-17288	150	5	1	1	NUM
fbem-17288	150	6	,	,	PUNCT
fbem-17288	150	7	the	the	DET
fbem-17288	150	8	absence	absence	NOUN
fbem-17288	150	9	of	of	ADP
fbem-17288	150	10	roots	root	NOUN
fbem-17288	150	11	outside	outside	ADP
fbem-17288	150	12	the	the	DET
fbem-17288	150	13	unit	unit	NOUN
fbem-17288	150	14	circle	circle	NOUN
fbem-17288	150	15	serves	serve	VERB
fbem-17288	150	16	as	as	ADP
fbem-17288	150	17	a	a	DET
fbem-17288	150	18	compelling	compelling	ADJ
fbem-17288	150	19	indication	indication	NOUN
fbem-17288	150	20	of	of	ADP
fbem-17288	150	21	the	the	DET
fbem-17288	150	22	stability	stability	NOUN
fbem-17288	150	23	of	of	ADP
fbem-17288	150	24	the	the	DET
fbem-17288	150	25	var	var	NOUN
fbem-17288	150	26	model.this	model.this	PRON
fbem-17288	150	27	stability	stability	NOUN
fbem-17288	150	28	finding	finding	NOUN
fbem-17288	150	29	lays	lay	VERB
fbem-17288	150	30	a	a	DET
fbem-17288	150	31	solid	solid	ADJ
fbem-17288	150	32	foundation	foundation	NOUN
fbem-17288	150	33	for	for	ADP
fbem-17288	150	34	conducting	conduct	VERB
fbem-17288	150	35	more	more	ADJ
fbem-17288	150	36	in	in	ADP
fbem-17288	150	37	-	-	PUNCT
fbem-17288	150	38	depth	depth	NOUN
fbem-17288	150	39	analyses	analysis	NOUN
fbem-17288	150	40	,	,	PUNCT
fbem-17288	150	41	adding	add	VERB
fbem-17288	150	42	depth	depth	NOUN
fbem-17288	150	43	and	and	CCONJ
fbem-17288	150	44	reliability	reliability	NOUN
fbem-17288	150	45	to	to	ADP
fbem-17288	150	46	the	the	DET
fbem-17288	150	47	research	research	NOUN
fbem-17288	150	48	.	.	PUNCT
fbem-17288	151	1	with	with	ADP
fbem-17288	151	2	the	the	DET
fbem-17288	151	3	confirmed	confirm	VERB
fbem-17288	151	4	stability	stability	NOUN
fbem-17288	151	5	,	,	PUNCT
fbem-17288	151	6	the	the	DET
fbem-17288	151	7	study	study	NOUN
fbem-17288	151	8	can	can	AUX
fbem-17288	151	9	now	now	ADV
fbem-17288	151	10	delve	delve	VERB
fbem-17288	151	11	into	into	ADP
fbem-17288	151	12	advanced	advanced	ADJ
fbem-17288	151	13	analytical	analytical	ADJ
fbem-17288	151	14	techniques	technique	NOUN
fbem-17288	151	15	.	.	PUNCT
fbem-17288	152	1	one	one	NUM
fbem-17288	152	2	such	such	ADJ
fbem-17288	152	3	avenue	avenue	NOUN
fbem-17288	152	4	is	be	AUX
fbem-17288	152	5	the	the	DET
fbem-17288	152	6	exploration	exploration	NOUN
fbem-17288	152	7	of	of	ADP
fbem-17288	152	8	impulse	impulse	ADJ
fbem-17288	152	9	response	response	NOUN
fbem-17288	152	10	analysis	analysis	NOUN
fbem-17288	152	11	,	,	PUNCT
fbem-17288	152	12	which	which	PRON
fbem-17288	152	13	allows	allow	VERB
fbem-17288	152	14	for	for	ADP
fbem-17288	152	15	the	the	DET
fbem-17288	152	16	examination	examination	NOUN
fbem-17288	152	17	of	of	ADP
fbem-17288	152	18	the	the	DET
fbem-17288	152	19	dynamic	dynamic	ADJ
fbem-17288	152	20	reactions	reaction	NOUN
fbem-17288	152	21	of	of	ADP
fbem-17288	152	22	the	the	DET
fbem-17288	152	23	model	model	NOUN
fbem-17288	152	24	variables	variable	NOUN
fbem-17288	152	25	to	to	ADP
fbem-17288	152	26	shocks	shock	NOUN
fbem-17288	152	27	over	over	ADP
fbem-17288	152	28	time	time	NOUN
fbem-17288	152	29	.	.	PUNCT
fbem-17288	153	1	this	this	DET
fbem-17288	153	2	dynamic	dynamic	ADJ
fbem-17288	153	3	perspective	perspective	NOUN
fbem-17288	153	4	enhances	enhance	VERB
fbem-17288	153	5	our	our	PRON
fbem-17288	153	6	understanding	understanding	NOUN
fbem-17288	153	7	of	of	ADP
fbem-17288	153	8	how	how	SCONJ
fbem-17288	153	9	the	the	DET
fbem-17288	153	10	system	system	NOUN
fbem-17288	153	11	responds	respond	VERB
fbem-17288	153	12	to	to	ADP
fbem-17288	153	13	external	external	ADJ
fbem-17288	153	14	influences	influence	NOUN
fbem-17288	153	15	and	and	CCONJ
fbem-17288	153	16	provides	provide	VERB
fbem-17288	153	17	valuable	valuable	ADJ
fbem-17288	153	18	insights	insight	NOUN
fbem-17288	153	19	for	for	ADP
fbem-17288	153	20	us	we	PRON
fbem-17288	153	21	.	.	PUNCT
fbem-17288	154	1	3.6	3.6	NUM
fbem-17288	154	2	impulse	impulse	ADJ
fbem-17288	154	3	response	response	NOUN
fbem-17288	154	4	the	the	DET
fbem-17288	154	5	impulse	impulse	ADJ
fbem-17288	154	6	response	response	NOUN
fbem-17288	154	7	function	function	NOUN
fbem-17288	154	8	refers	refer	VERB
fbem-17288	154	9	to	to	ADP
fbem-17288	154	10	the	the	DET
fbem-17288	154	11	impact	impact	NOUN
fbem-17288	154	12	on	on	ADP
fbem-17288	154	13	the	the	DET
fbem-17288	154	14	contemporaneous	contemporaneous	ADJ
fbem-17288	154	15	and	and	CCONJ
fbem-17288	154	16	future	future	ADJ
fbem-17288	154	17	values	value	NOUN
fbem-17288	154	18	of	of	ADP
fbem-17288	154	19	endogenous	endogenous	ADJ
fbem-17288	154	20	variables	variable	NOUN
fbem-17288	154	21	after	after	ADP
fbem-17288	154	22	applying	apply	VERB
fbem-17288	154	23	a	a	DET
fbem-17288	154	24	shock	shock	NOUN
fbem-17288	154	25	of	of	ADP
fbem-17288	154	26	one	one	NUM
fbem-17288	154	27	standard	standard	ADJ
fbem-17288	154	28	deviation	deviation	NOUN
fbem-17288	154	29	to	to	ADP
fbem-17288	154	30	the	the	DET
fbem-17288	154	31	random	random	ADJ
fbem-17288	154	32	error	error	NOUN
fbem-17288	154	33	term	term	NOUN
fbem-17288	154	34	.	.	PUNCT
fbem-17288	155	1	this	this	DET
fbem-17288	155	2	analysis	analysis	NOUN
fbem-17288	155	3	helps	help	VERB
fbem-17288	155	4	us	we	PRON
fbem-17288	155	5	understand	understand	VERB
fbem-17288	155	6	how	how	SCONJ
fbem-17288	155	7	introducing	introduce	VERB
fbem-17288	155	8	shocks	shock	NOUN
fbem-17288	155	9	into	into	ADP
fbem-17288	155	10	the	the	DET
fbem-17288	155	11	economic	economic	ADJ
fbem-17288	155	12	system	system	NOUN
fbem-17288	155	13	influences	influence	VERB
fbem-17288	155	14	the	the	DET
fbem-17288	155	15	interrelationships	interrelationship	NOUN
fbem-17288	155	16	among	among	ADP
fbem-17288	155	17	various	various	ADJ
fbem-17288	155	18	variables	variable	NOUN
fbem-17288	155	19	.	.	PUNCT
fbem-17288	156	1	in	in	ADP
fbem-17288	156	2	our	our	PRON
fbem-17288	156	3	study	study	NOUN
fbem-17288	156	4	,	,	PUNCT
fbem-17288	156	5	we	we	PRON
fbem-17288	156	6	focus	focus	VERB
fbem-17288	156	7	on	on	ADP
fbem-17288	156	8	examining	examine	VERB
fbem-17288	156	9	how	how	SCONJ
fbem-17288	156	10	changes	change	NOUN
fbem-17288	156	11	in	in	ADP
fbem-17288	156	12	foreign	foreign	ADJ
fbem-17288	156	13	exchange	exchange	NOUN
fbem-17288	156	14	reserves	reserve	NOUN
fbem-17288	156	15	(	(	PUNCT
fbem-17288	156	16	lnfr	lnfr	NOUN
fbem-17288	156	17	)	)	PUNCT
fbem-17288	156	18	induce	induce	VERB
fbem-17288	156	19	dynamic	dynamic	ADJ
fbem-17288	156	20	responses	response	NOUN
fbem-17288	156	21	in	in	ADP
fbem-17288	156	22	the	the	DET
fbem-17288	156	23	chinese	chinese	PROPN
fbem-17288	156	24	yuan	yuan	PROPN
fbem-17288	156	25	to	to	ADP
fbem-17288	156	26	us	us	PROPN
fbem-17288	156	27	dollar	dollar	NOUN
fbem-17288	156	28	exchange	exchange	NOUN
fbem-17288	156	29	rate	rate	NOUN
fbem-17288	156	30	(	(	PUNCT
fbem-17288	156	31	lner	lner	NOUN
fbem-17288	156	32	)	)	PUNCT
fbem-17288	156	33	,	,	PUNCT
fbem-17288	156	34	external	external	ADJ
fbem-17288	156	35	debt	debt	NOUN
fbem-17288	156	36	balance	balance	NOUN
fbem-17288	156	37	(	(	PUNCT
fbem-17288	156	38	lnfd	lnfd	NOUN
fbem-17288	156	39	)	)	PUNCT
fbem-17288	156	40	,	,	PUNCT
fbem-17288	156	41	and	and	CCONJ
fbem-17288	156	42	total	total	ADJ
fbem-17288	156	43	imports	import	NOUN
fbem-17288	156	44	(	(	PUNCT
fbem-17288	156	45	lnim	lnim	NOUN
fbem-17288	156	46	)	)	PUNCT
fbem-17288	156	47	.	.	PUNCT
fbem-17288	157	1	through	through	ADP
fbem-17288	157	2	the	the	DET
fbem-17288	157	3	analysis	analysis	NOUN
fbem-17288	157	4	of	of	ADP
fbem-17288	157	5	the	the	DET
fbem-17288	157	6	impulse	impulse	ADJ
fbem-17288	157	7	response	response	NOUN
fbem-17288	157	8	function	function	NOUN
fbem-17288	157	9	,	,	PUNCT
fbem-17288	157	10	we	we	PRON
fbem-17288	157	11	can	can	AUX
fbem-17288	157	12	observe	observe	VERB
fbem-17288	157	13	the	the	DET
fbem-17288	157	14	short	short	ADJ
fbem-17288	157	15	-	-	PUNCT
fbem-17288	157	16	term	term	NOUN
fbem-17288	157	17	and	and	CCONJ
fbem-17288	157	18	long	long	ADJ
fbem-17288	157	19	-	-	PUNCT
fbem-17288	157	20	term	term	NOUN
fbem-17288	157	21	effects	effect	NOUN
fbem-17288	157	22	that	that	PRON
fbem-17288	157	23	shocks	shock	VERB
fbem-17288	157	24	have	have	VERB
fbem-17288	157	25	on	on	ADP
fbem-17288	157	26	these	these	DET
fbem-17288	157	27	economic	economic	ADJ
fbem-17288	157	28	variables	variable	NOUN
fbem-17288	157	29	at	at	ADP
fbem-17288	157	30	different	different	ADJ
fbem-17288	157	31	time	time	NOUN
fbem-17288	157	32	points	point	NOUN
fbem-17288	157	33	.	.	PUNCT
fbem-17288	158	1	this	this	DET
fbem-17288	158	2	aids	aid	NOUN
fbem-17288	158	3	in	in	ADP
fbem-17288	158	4	gaining	gain	VERB
fbem-17288	158	5	a	a	DET
fbem-17288	158	6	more	more	ADV
fbem-17288	158	7	comprehensive	comprehensive	ADJ
fbem-17288	158	8	understanding	understanding	NOUN
fbem-17288	158	9	of	of	ADP
fbem-17288	158	10	the	the	DET
fbem-17288	158	11	interplay	interplay	NOUN
fbem-17288	158	12	between	between	ADP
fbem-17288	158	13	these	these	DET
fbem-17288	158	14	variables	variable	NOUN
fbem-17288	158	15	and	and	CCONJ
fbem-17288	158	16	their	their	PRON
fbem-17288	158	17	impact	impact	NOUN
fbem-17288	158	18	on	on	ADP
fbem-17288	158	19	the	the	DET
fbem-17288	158	20	overall	overall	ADJ
fbem-17288	158	21	economic	economic	ADJ
fbem-17288	158	22	situation	situation	NOUN
fbem-17288	158	23	.	.	PUNCT
fbem-17288	159	1	such	such	DET
fbem-17288	159	2	an	an	DET
fbem-17288	159	3	approach	approach	NOUN
fbem-17288	159	4	enables	enable	VERB
fbem-17288	159	5	us	we	PRON
fbem-17288	159	6	to	to	PART
fbem-17288	159	7	delve	delve	VERB
fbem-17288	159	8	deeply	deeply	ADV
fbem-17288	159	9	into	into	ADP
fbem-17288	159	10	the	the	DET
fbem-17288	159	11	role	role	NOUN
fbem-17288	159	12	of	of	ADP
fbem-17288	159	13	foreign	foreign	ADJ
fbem-17288	159	14	exchange	exchange	NOUN
fbem-17288	159	15	reserves	reserve	NOUN
fbem-17288	159	16	in	in	ADP
fbem-17288	159	17	the	the	DET
fbem-17288	159	18	macroeconomic	macroeconomic	ADJ
fbem-17288	159	19	context	context	NOUN
fbem-17288	159	20	and	and	CCONJ
fbem-17288	159	21	uncover	uncover	VERB
fbem-17288	159	22	potential	potential	ADJ
fbem-17288	159	23	policy	policy	NOUN
fbem-17288	159	24	implications	implication	NOUN
fbem-17288	159	25	.	.	PUNCT
fbem-17288	160	1	figure	figure	NOUN
fbem-17288	160	2	2	2	NUM
fbem-17288	160	3	.	.	PUNCT
fbem-17288	161	1	impulse	impulse	ADJ
fbem-17288	161	2	response	response	NOUN
fbem-17288	161	3	as	as	SCONJ
fbem-17288	161	4	shown	show	VERB
fbem-17288	161	5	in	in	ADP
fbem-17288	161	6	the	the	DET
fbem-17288	161	7	above	above	ADJ
fbem-17288	161	8	figure	figure	NOUN
fbem-17288	161	9	2	2	NUM
fbem-17288	161	10	,	,	PUNCT
fbem-17288	161	11	after	after	ADP
fbem-17288	161	12	implementing	implement	VERB
fbem-17288	161	13	an	an	DET
fbem-17288	161	14	impact	impact	NOUN
fbem-17288	161	15	on	on	ADP
fbem-17288	161	16	itself	itself	PRON
fbem-17288	161	17	,	,	PUNCT
fbem-17288	161	18	lny	lny	PROPN
fbem-17288	161	19	exhibits	exhibit	VERB
fbem-17288	161	20	a	a	DET
fbem-17288	161	21	noticeable	noticeable	ADJ
fbem-17288	161	22	decline	decline	NOUN
fbem-17288	161	23	from	from	ADP
fbem-17288	161	24	the	the	DET
fbem-17288	161	25	1st	1st	NOUN
fbem-17288	161	26	to	to	ADP
fbem-17288	161	27	the	the	DET
fbem-17288	161	28	3rd	3rd	ADJ
fbem-17288	161	29	period	period	NOUN
fbem-17288	161	30	,	,	PUNCT
fbem-17288	161	31	with	with	ADP
fbem-17288	161	32	a	a	DET
fbem-17288	161	33	small	small	ADJ
fbem-17288	161	34	fluctuation	fluctuation	NOUN
fbem-17288	161	35	after	after	ADP
fbem-17288	161	36	the	the	DET
fbem-17288	161	37	3rd	3rd	ADJ
fbem-17288	161	38	period	period	NOUN
fbem-17288	161	39	,	,	PUNCT
fbem-17288	161	40	ultimately	ultimately	ADV
fbem-17288	161	41	converging	converge	VERB
fbem-17288	161	42	.	.	PUNCT
fbem-17288	162	1	when	when	SCONJ
fbem-17288	162	2	lnx1	lnx1	PROPN
fbem-17288	162	3	imposes	impose	VERB
fbem-17288	162	4	an	an	DET
fbem-17288	162	5	impact	impact	NOUN
fbem-17288	162	6	on	on	ADP
fbem-17288	162	7	lny	lny	PROPN
fbem-17288	162	8	,	,	PUNCT
fbem-17288	162	9	specifically	specifically	ADV
fbem-17288	162	10	when	when	SCONJ
fbem-17288	162	11	the	the	DET
fbem-17288	162	12	exchange	exchange	NOUN
fbem-17288	162	13	rate	rate	NOUN
fbem-17288	162	14	of	of	ADP
fbem-17288	162	15	the	the	DET
fbem-17288	162	16	chinese	chinese	PROPN
fbem-17288	162	17	yuan	yuan	PROPN
fbem-17288	162	18	to	to	ADP
fbem-17288	162	19	us	us	PROPN
fbem-17288	162	20	dollar	dollar	NOUN
fbem-17288	162	21	(	(	PUNCT
fbem-17288	162	22	lner	lner	NOUN
fbem-17288	162	23	)	)	PUNCT
fbem-17288	162	24	105	105	NUM
fbem-17288	162	25	experiences	experience	NOUN
fbem-17288	162	26	a	a	DET
fbem-17288	162	27	unit	unit	NOUN
fbem-17288	162	28	positive	positive	ADJ
fbem-17288	162	29	shock	shock	NOUN
fbem-17288	162	30	,	,	PUNCT
fbem-17288	162	31	the	the	DET
fbem-17288	162	32	foreign	foreign	ADJ
fbem-17288	162	33	exchange	exchange	NOUN
fbem-17288	162	34	reserves	reserve	NOUN
fbem-17288	162	35	lnfr	lnfr	AUX
fbem-17288	162	36	show	show	VERB
fbem-17288	162	37	a	a	DET
fbem-17288	162	38	negative	negative	ADJ
fbem-17288	162	39	response	response	NOUN
fbem-17288	162	40	.	.	PUNCT
fbem-17288	163	1	in	in	ADP
fbem-17288	163	2	the	the	DET
fbem-17288	163	3	1st	1st	NOUN
fbem-17288	163	4	to	to	ADP
fbem-17288	163	5	3rd	3rd	ADJ
fbem-17288	163	6	periods	period	NOUN
fbem-17288	163	7	,	,	PUNCT
fbem-17288	163	8	the	the	DET
fbem-17288	163	9	negative	negative	ADJ
fbem-17288	163	10	response	response	NOUN
fbem-17288	163	11	strengthens	strengthen	VERB
fbem-17288	163	12	,	,	PUNCT
fbem-17288	163	13	diminishes	diminish	VERB
fbem-17288	163	14	after	after	ADP
fbem-17288	163	15	the	the	DET
fbem-17288	163	16	3rd	3rd	ADJ
fbem-17288	163	17	period	period	NOUN
fbem-17288	163	18	,	,	PUNCT
fbem-17288	163	19	and	and	CCONJ
fbem-17288	163	20	disappears	disappear	VERB
fbem-17288	163	21	by	by	ADP
fbem-17288	163	22	the	the	DET
fbem-17288	163	23	5th	5th	ADJ
fbem-17288	163	24	period	period	NOUN
fbem-17288	163	25	.	.	PUNCT
fbem-17288	164	1	it	it	PRON
fbem-17288	164	2	turns	turn	VERB
fbem-17288	164	3	into	into	ADP
fbem-17288	164	4	a	a	DET
fbem-17288	164	5	positive	positive	ADJ
fbem-17288	164	6	response	response	NOUN
fbem-17288	164	7	after	after	ADP
fbem-17288	164	8	the	the	DET
fbem-17288	164	9	5th	5th	ADJ
fbem-17288	164	10	period	period	NOUN
fbem-17288	164	11	,	,	PUNCT
fbem-17288	164	12	gradually	gradually	ADV
fbem-17288	164	13	converging	converge	VERB
fbem-17288	164	14	.	.	PUNCT
fbem-17288	165	1	following	follow	VERB
fbem-17288	165	2	an	an	DET
fbem-17288	165	3	impact	impact	NOUN
fbem-17288	165	4	by	by	ADP
fbem-17288	165	5	lnx2	lnx2	PROPN
fbem-17288	165	6	on	on	ADP
fbem-17288	165	7	lny	lny	PROPN
fbem-17288	165	8	,	,	PUNCT
fbem-17288	165	9	i.e.	i.e.	X
fbem-17288	165	10	,	,	PUNCT
fbem-17288	165	11	when	when	SCONJ
fbem-17288	165	12	the	the	DET
fbem-17288	165	13	external	external	ADJ
fbem-17288	165	14	debt	debt	NOUN
fbem-17288	165	15	balance	balance	NOUN
fbem-17288	165	16	lnfd	lnfd	NOUN
fbem-17288	165	17	undergoes	undergo	VERB
fbem-17288	165	18	a	a	DET
fbem-17288	165	19	unit	unit	NOUN
fbem-17288	165	20	positive	positive	ADJ
fbem-17288	165	21	shock	shock	NOUN
fbem-17288	165	22	,	,	PUNCT
fbem-17288	165	23	the	the	DET
fbem-17288	165	24	foreign	foreign	ADJ
fbem-17288	165	25	exchange	exchange	NOUN
fbem-17288	165	26	reserves	reserve	NOUN
fbem-17288	165	27	lnfr	lnfr	VERB
fbem-17288	165	28	consistently	consistently	ADV
fbem-17288	165	29	exhibit	exhibit	VERB
fbem-17288	165	30	a	a	DET
fbem-17288	165	31	negative	negative	ADJ
fbem-17288	165	32	response	response	NOUN
fbem-17288	165	33	.	.	PUNCT
fbem-17288	166	1	the	the	DET
fbem-17288	166	2	negative	negative	ADJ
fbem-17288	166	3	impact	impact	NOUN
fbem-17288	166	4	intensifies	intensifie	NOUN
fbem-17288	166	5	from	from	ADP
fbem-17288	166	6	the	the	DET
fbem-17288	166	7	1st	1st	NOUN
fbem-17288	166	8	to	to	ADP
fbem-17288	166	9	the	the	DET
fbem-17288	166	10	3rd	3rd	ADJ
fbem-17288	166	11	period	period	NOUN
fbem-17288	166	12	,	,	PUNCT
fbem-17288	166	13	gradually	gradually	ADV
fbem-17288	166	14	weakens	weaken	VERB
fbem-17288	166	15	with	with	ADP
fbem-17288	166	16	an	an	DET
fbem-17288	166	17	increase	increase	NOUN
fbem-17288	166	18	in	in	ADP
fbem-17288	166	19	periods	period	NOUN
fbem-17288	166	20	,	,	PUNCT
fbem-17288	166	21	and	and	CCONJ
fbem-17288	166	22	ultimately	ultimately	ADV
fbem-17288	166	23	converges	converge	VERB
fbem-17288	166	24	.	.	PUNCT
fbem-17288	167	1	upon	upon	SCONJ
fbem-17288	167	2	an	an	DET
fbem-17288	167	3	impact	impact	NOUN
fbem-17288	167	4	from	from	ADP
fbem-17288	167	5	lnx3	lnx3	PROPN
fbem-17288	167	6	on	on	ADP
fbem-17288	167	7	lny	lny	PROPN
fbem-17288	167	8	,	,	PUNCT
fbem-17288	167	9	meaning	mean	VERB
fbem-17288	167	10	when	when	SCONJ
fbem-17288	167	11	the	the	DET
fbem-17288	167	12	total	total	ADJ
fbem-17288	167	13	import	import	NOUN
fbem-17288	167	14	amount	amount	NOUN
fbem-17288	167	15	lnim	lnim	PROPN
fbem-17288	167	16	undergoes	undergo	VERB
fbem-17288	167	17	a	a	DET
fbem-17288	167	18	unit	unit	NOUN
fbem-17288	167	19	positive	positive	ADJ
fbem-17288	167	20	shock	shock	NOUN
fbem-17288	167	21	,	,	PUNCT
fbem-17288	167	22	the	the	DET
fbem-17288	167	23	foreign	foreign	ADJ
fbem-17288	167	24	exchange	exchange	NOUN
fbem-17288	167	25	reserves	reserve	NOUN
fbem-17288	167	26	lnfr	lnfr	VERB
fbem-17288	167	27	consistently	consistently	ADV
fbem-17288	167	28	show	show	VERB
fbem-17288	167	29	a	a	DET
fbem-17288	167	30	positive	positive	ADJ
fbem-17288	167	31	influence	influence	NOUN
fbem-17288	167	32	.	.	PUNCT
fbem-17288	168	1	the	the	DET
fbem-17288	168	2	positive	positive	ADJ
fbem-17288	168	3	impact	impact	NOUN
fbem-17288	168	4	increases	increase	VERB
fbem-17288	168	5	rapidly	rapidly	ADV
fbem-17288	168	6	in	in	ADP
fbem-17288	168	7	the	the	DET
fbem-17288	168	8	1st	1st	NOUN
fbem-17288	168	9	to	to	ADP
fbem-17288	168	10	4th	4th	ADJ
fbem-17288	168	11	periods	period	NOUN
fbem-17288	168	12	,	,	PUNCT
fbem-17288	168	13	then	then	ADV
fbem-17288	168	14	diminishes	diminish	VERB
fbem-17288	168	15	at	at	ADP
fbem-17288	168	16	a	a	DET
fbem-17288	168	17	relatively	relatively	ADV
fbem-17288	168	18	faster	fast	ADJ
fbem-17288	168	19	rate	rate	NOUN
fbem-17288	168	20	,	,	PUNCT
fbem-17288	168	21	ultimately	ultimately	ADV
fbem-17288	168	22	converging	converge	VERB
fbem-17288	168	23	.	.	PUNCT
fbem-17288	169	1	from	from	ADP
fbem-17288	169	2	the	the	DET
fbem-17288	169	3	above	above	ADJ
fbem-17288	169	4	analysis	analysis	NOUN
fbem-17288	169	5	,	,	PUNCT
fbem-17288	169	6	it	it	PRON
fbem-17288	169	7	can	can	AUX
fbem-17288	169	8	be	be	AUX
fbem-17288	169	9	inferred	infer	VERB
fbem-17288	169	10	that	that	SCONJ
fbem-17288	169	11	the	the	DET
fbem-17288	169	12	fluctuations	fluctuation	NOUN
fbem-17288	169	13	in	in	ADP
fbem-17288	169	14	the	the	DET
fbem-17288	169	15	chinese	chinese	PROPN
fbem-17288	169	16	yuan	yuan	PROPN
fbem-17288	169	17	to	to	ADP
fbem-17288	169	18	us	us	PROPN
fbem-17288	169	19	dollar	dollar	NOUN
fbem-17288	169	20	exchange	exchange	NOUN
fbem-17288	169	21	rate	rate	NOUN
fbem-17288	169	22	and	and	CCONJ
fbem-17288	169	23	total	total	ADJ
fbem-17288	169	24	import	import	NOUN
fbem-17288	169	25	amount	amount	NOUN
fbem-17288	169	26	have	have	VERB
fbem-17288	169	27	a	a	DET
fbem-17288	169	28	negative	negative	ADJ
fbem-17288	169	29	effect	effect	NOUN
fbem-17288	169	30	on	on	ADP
fbem-17288	169	31	foreign	foreign	ADJ
fbem-17288	169	32	exchange	exchange	NOUN
fbem-17288	169	33	reserves	reserve	NOUN
fbem-17288	169	34	in	in	ADP
fbem-17288	169	35	the	the	DET
fbem-17288	169	36	short	short	ADJ
fbem-17288	169	37	term	term	NOUN
fbem-17288	169	38	but	but	CCONJ
fbem-17288	169	39	a	a	DET
fbem-17288	169	40	positive	positive	ADJ
fbem-17288	169	41	effect	effect	NOUN
fbem-17288	169	42	in	in	ADP
fbem-17288	169	43	the	the	DET
fbem-17288	169	44	long	long	ADJ
fbem-17288	169	45	term	term	NOUN
fbem-17288	169	46	.	.	PUNCT
fbem-17288	170	1	regardless	regardless	ADV
fbem-17288	170	2	of	of	ADP
fbem-17288	170	3	the	the	DET
fbem-17288	170	4	duration	duration	NOUN
fbem-17288	170	5	,	,	PUNCT
fbem-17288	170	6	the	the	DET
fbem-17288	170	7	fluctuations	fluctuation	NOUN
fbem-17288	170	8	in	in	ADP
fbem-17288	170	9	external	external	ADJ
fbem-17288	170	10	debt	debt	NOUN
fbem-17288	170	11	balance	balance	NOUN
fbem-17288	170	12	consistently	consistently	ADV
fbem-17288	170	13	have	have	VERB
fbem-17288	170	14	a	a	DET
fbem-17288	170	15	negative	negative	ADJ
fbem-17288	170	16	impact	impact	NOUN
fbem-17288	170	17	on	on	ADP
fbem-17288	170	18	foreign	foreign	ADJ
fbem-17288	170	19	exchange	exchange	NOUN
fbem-17288	170	20	reserves	reserve	NOUN
fbem-17288	170	21	,	,	PUNCT
fbem-17288	170	22	while	while	SCONJ
fbem-17288	170	23	the	the	DET
fbem-17288	170	24	total	total	ADJ
fbem-17288	170	25	import	import	NOUN
fbem-17288	170	26	amount	amount	NOUN
fbem-17288	170	27	consistently	consistently	ADV
fbem-17288	170	28	has	have	VERB
fbem-17288	170	29	a	a	DET
fbem-17288	170	30	positive	positive	ADJ
fbem-17288	170	31	impact	impact	NOUN
fbem-17288	170	32	.	.	PUNCT
fbem-17288	171	1	3.7	3.7	NUM
fbem-17288	171	2	variance	variance	NOUN
fbem-17288	171	3	decomposition	decomposition	NOUN
fbem-17288	171	4	by	by	ADP
fbem-17288	171	5	using	use	VERB
fbem-17288	171	6	the	the	DET
fbem-17288	171	7	variance	variance	NOUN
fbem-17288	171	8	decomposition	decomposition	NOUN
fbem-17288	171	9	method	method	NOUN
fbem-17288	171	10	,	,	PUNCT
fbem-17288	171	11	one	one	PRON
fbem-17288	171	12	can	can	AUX
fbem-17288	171	13	comprehend	comprehend	VERB
fbem-17288	171	14	the	the	DET
fbem-17288	171	15	impact	impact	NOUN
fbem-17288	171	16	of	of	ADP
fbem-17288	171	17	various	various	ADJ
fbem-17288	171	18	factors	factor	NOUN
fbem-17288	171	19	on	on	ADP
fbem-17288	171	20	foreign	foreign	ADJ
fbem-17288	171	21	exchange	exchange	NOUN
fbem-17288	171	22	reserves	reserve	NOUN
fbem-17288	171	23	and	and	CCONJ
fbem-17288	171	24	further	far	ADV
fbem-17288	171	25	evaluate	evaluate	VERB
fbem-17288	171	26	the	the	DET
fbem-17288	171	27	significance	significance	NOUN
fbem-17288	171	28	of	of	ADP
fbem-17288	171	29	different	different	ADJ
fbem-17288	171	30	structural	structural	ADJ
fbem-17288	171	31	shocks	shock	NOUN
fbem-17288	171	32	.	.	PUNCT
fbem-17288	172	1	figure	figure	VERB
fbem-17288	172	2	3	3	NUM
fbem-17288	172	3	.	.	NOUN
fbem-17288	172	4	variance	variance	NOUN
fbem-17288	172	5	decomposition	decomposition	NOUN
fbem-17288	172	6	according	accord	VERB
fbem-17288	172	7	to	to	ADP
fbem-17288	172	8	the	the	DET
fbem-17288	172	9	presentation	presentation	NOUN
fbem-17288	172	10	in	in	ADP
fbem-17288	172	11	the	the	DET
fbem-17288	172	12	above	above	ADJ
fbem-17288	172	13	figure	figure	NOUN
fbem-17288	172	14	3	3	NUM
fbem-17288	172	15	,	,	PUNCT
fbem-17288	172	16	if	if	SCONJ
fbem-17288	172	17	we	we	PRON
fbem-17288	172	18	do	do	AUX
fbem-17288	172	19	not	not	PART
fbem-17288	172	20	consider	consider	VERB
fbem-17288	172	21	the	the	DET
fbem-17288	172	22	contribution	contribution	NOUN
fbem-17288	172	23	rate	rate	NOUN
fbem-17288	172	24	of	of	ADP
fbem-17288	172	25	foreign	foreign	ADJ
fbem-17288	172	26	exchange	exchange	NOUN
fbem-17288	172	27	reserves	reserve	NOUN
fbem-17288	172	28	itself	itself	PRON
fbem-17288	172	29	,	,	PUNCT
fbem-17288	172	30	it	it	PRON
fbem-17288	172	31	can	can	AUX
fbem-17288	172	32	be	be	AUX
fbem-17288	172	33	observed	observe	VERB
fbem-17288	172	34	that	that	SCONJ
fbem-17288	172	35	the	the	DET
fbem-17288	172	36	changes	change	NOUN
fbem-17288	172	37	in	in	ADP
fbem-17288	172	38	lny	lny	PROPN
fbem-17288	172	39	,	,	PUNCT
fbem-17288	172	40	especially	especially	ADV
fbem-17288	172	41	those	those	PRON
fbem-17288	172	42	caused	cause	VERB
fbem-17288	172	43	by	by	ADP
fbem-17288	172	44	lnx2	lnx2	PROPN
fbem-17288	172	45	and	and	CCONJ
fbem-17288	172	46	lnx3	lnx3	PROPN
fbem-17288	172	47	,	,	PUNCT
fbem-17288	172	48	are	be	AUX
fbem-17288	172	49	quite	quite	ADV
fbem-17288	172	50	significant	significant	ADJ
fbem-17288	172	51	.	.	PUNCT
fbem-17288	173	1	specifically	specifically	ADV
fbem-17288	173	2	,	,	PUNCT
fbem-17288	173	3	the	the	DET
fbem-17288	173	4	balances	balance	NOUN
fbem-17288	173	5	of	of	ADP
fbem-17288	173	6	foreign	foreign	ADJ
fbem-17288	173	7	debt	debt	NOUN
fbem-17288	173	8	(	(	PUNCT
fbem-17288	173	9	lnfd	lnfd	NOUN
fbem-17288	173	10	)	)	PUNCT
fbem-17288	173	11	and	and	CCONJ
fbem-17288	173	12	total	total	ADJ
fbem-17288	173	13	imports	import	NOUN
fbem-17288	173	14	(	(	PUNCT
fbem-17288	173	15	lnim	lnim	NOUN
fbem-17288	173	16	)	)	PUNCT
fbem-17288	173	17	make	make	VERB
fbem-17288	173	18	important	important	ADJ
fbem-17288	173	19	contributions	contribution	NOUN
fbem-17288	173	20	to	to	ADP
fbem-17288	173	21	the	the	DET
fbem-17288	173	22	variations	variation	NOUN
fbem-17288	173	23	in	in	ADP
fbem-17288	173	24	the	the	DET
fbem-17288	173	25	scale	scale	NOUN
fbem-17288	173	26	of	of	ADP
fbem-17288	173	27	foreign	foreign	ADJ
fbem-17288	173	28	exchange	exchange	NOUN
fbem-17288	173	29	reserves	reserve	NOUN
fbem-17288	173	30	(	(	PUNCT
fbem-17288	173	31	infr	infr	PROPN
fbem-17288	173	32	)	)	PUNCT
fbem-17288	173	33	.	.	PUNCT
fbem-17288	174	1	over	over	ADP
fbem-17288	174	2	the	the	DET
fbem-17288	174	3	long	long	ADJ
fbem-17288	174	4	term	term	NOUN
fbem-17288	174	5	,	,	PUNCT
fbem-17288	174	6	the	the	DET
fbem-17288	174	7	contribution	contribution	NOUN
fbem-17288	174	8	of	of	ADP
fbem-17288	174	9	total	total	ADJ
fbem-17288	174	10	imports	import	NOUN
fbem-17288	174	11	to	to	ADP
fbem-17288	174	12	the	the	DET
fbem-17288	174	13	changes	change	NOUN
fbem-17288	174	14	in	in	ADP
fbem-17288	174	15	the	the	DET
fbem-17288	174	16	scale	scale	NOUN
fbem-17288	174	17	of	of	ADP
fbem-17288	174	18	foreign	foreign	ADJ
fbem-17288	174	19	exchange	exchange	NOUN
fbem-17288	174	20	reserves	reserve	NOUN
fbem-17288	174	21	is	be	AUX
fbem-17288	174	22	more	more	ADV
fbem-17288	174	23	pronounced	pronounced	ADJ
fbem-17288	174	24	compared	compare	VERB
fbem-17288	174	25	to	to	ADP
fbem-17288	174	26	the	the	DET
fbem-17288	174	27	short	short	ADJ
fbem-17288	174	28	term	term	NOUN
fbem-17288	174	29	,	,	PUNCT
fbem-17288	174	30	reaching	reach	VERB
fbem-17288	174	31	around	around	ADP
fbem-17288	174	32	50	50	NUM
fbem-17288	174	33	%	%	NOUN
fbem-17288	174	34	in	in	ADP
fbem-17288	174	35	the	the	DET
fbem-17288	174	36	long	long	ADJ
fbem-17288	174	37	run	run	NOUN
fbem-17288	174	38	.	.	PUNCT
fbem-17288	175	1	in	in	ADP
fbem-17288	175	2	contrast	contrast	NOUN
fbem-17288	175	3	,	,	PUNCT
fbem-17288	175	4	the	the	DET
fbem-17288	175	5	contribution	contribution	NOUN
fbem-17288	175	6	level	level	NOUN
fbem-17288	175	7	of	of	ADP
fbem-17288	175	8	foreign	foreign	ADJ
fbem-17288	175	9	debt	debt	NOUN
fbem-17288	175	10	balances	balance	NOUN
fbem-17288	175	11	to	to	ADP
fbem-17288	175	12	the	the	DET
fbem-17288	175	13	changes	change	NOUN
fbem-17288	175	14	in	in	ADP
fbem-17288	175	15	the	the	DET
fbem-17288	175	16	scale	scale	NOUN
fbem-17288	175	17	of	of	ADP
fbem-17288	175	18	foreign	foreign	ADJ
fbem-17288	175	19	exchange	exchange	NOUN
fbem-17288	175	20	reserves	reserve	NOUN
fbem-17288	175	21	is	be	AUX
fbem-17288	175	22	maintained	maintain	VERB
fbem-17288	175	23	at	at	ADP
fbem-17288	175	24	around	around	ADP
fbem-17288	175	25	10	10	NUM
fbem-17288	175	26	%	%	NOUN
fbem-17288	175	27	.	.	PUNCT
fbem-17288	176	1	however	however	ADV
fbem-17288	176	2	,	,	PUNCT
fbem-17288	176	3	the	the	DET
fbem-17288	176	4	contribution	contribution	NOUN
fbem-17288	176	5	of	of	ADP
fbem-17288	176	6	the	the	DET
fbem-17288	176	7	chinese	chinese	PROPN
fbem-17288	176	8	yuan	yuan	PROPN
fbem-17288	176	9	to	to	ADP
fbem-17288	176	10	us	us	PROPN
fbem-17288	176	11	dollar	dollar	NOUN
fbem-17288	176	12	exchange	exchange	NOUN
fbem-17288	176	13	rate	rate	NOUN
fbem-17288	176	14	to	to	ADP
fbem-17288	176	15	the	the	DET
fbem-17288	176	16	changes	change	NOUN
fbem-17288	176	17	in	in	ADP
fbem-17288	176	18	the	the	DET
fbem-17288	176	19	scale	scale	NOUN
fbem-17288	176	20	of	of	ADP
fbem-17288	176	21	foreign	foreign	ADJ
fbem-17288	176	22	exchange	exchange	NOUN
fbem-17288	176	23	reserves	reserve	NOUN
fbem-17288	176	24	has	have	AUX
fbem-17288	176	25	consistently	consistently	ADV
fbem-17288	176	26	remained	remain	VERB
fbem-17288	176	27	at	at	ADP
fbem-17288	176	28	a	a	DET
fbem-17288	176	29	relatively	relatively	ADV
fbem-17288	176	30	low	low	ADJ
fbem-17288	176	31	level	level	NOUN
fbem-17288	176	32	,	,	PUNCT
fbem-17288	176	33	with	with	ADP
fbem-17288	176	34	a	a	DET
fbem-17288	176	35	less	less	ADV
fbem-17288	176	36	significant	significant	ADJ
fbem-17288	176	37	impact	impact	NOUN
fbem-17288	176	38	.	.	PUNCT
fbem-17288	177	1	these	these	DET
fbem-17288	177	2	findings	finding	NOUN
fbem-17288	177	3	contribute	contribute	VERB
fbem-17288	177	4	to	to	ADP
fbem-17288	177	5	a	a	DET
fbem-17288	177	6	more	more	ADV
fbem-17288	177	7	comprehensive	comprehensive	ADJ
fbem-17288	177	8	understanding	understanding	NOUN
fbem-17288	177	9	of	of	ADP
fbem-17288	177	10	the	the	DET
fbem-17288	177	11	extent	extent	NOUN
fbem-17288	177	12	to	to	PART
fbem-17288	177	13	which	which	PRON
fbem-17288	177	14	various	various	ADJ
fbem-17288	177	15	factors	factor	NOUN
fbem-17288	177	16	influence	influence	VERB
fbem-17288	177	17	changes	change	NOUN
fbem-17288	177	18	in	in	ADP
fbem-17288	177	19	the	the	DET
fbem-17288	177	20	scale	scale	NOUN
fbem-17288	177	21	of	of	ADP
fbem-17288	177	22	foreign	foreign	ADJ
fbem-17288	177	23	exchange	exchange	NOUN
fbem-17288	177	24	reserves	reserve	NOUN
fbem-17288	177	25	,	,	PUNCT
fbem-17288	177	26	providing	provide	VERB
fbem-17288	177	27	important	important	ADJ
fbem-17288	177	28	insights	insight	NOUN
fbem-17288	177	29	for	for	ADP
fbem-17288	177	30	the	the	DET
fbem-17288	177	31	formulation	formulation	NOUN
fbem-17288	177	32	of	of	ADP
fbem-17288	177	33	relevant	relevant	ADJ
fbem-17288	177	34	policies	policy	NOUN
fbem-17288	177	35	and	and	CCONJ
fbem-17288	177	36	strategies	strategy	NOUN
fbem-17288	177	37	.	.	PUNCT
fbem-17288	178	1	4	4	X
fbem-17288	178	2	.	.	NOUN
fbem-17288	178	3	result	result	VERB
fbem-17288	178	4	analysis	analysis	NOUN
fbem-17288	178	5	and	and	CCONJ
fbem-17288	178	6	evaluation	evaluation	NOUN
fbem-17288	178	7	through	through	ADP
fbem-17288	178	8	a	a	DET
fbem-17288	178	9	detailed	detailed	ADJ
fbem-17288	178	10	analysis	analysis	NOUN
fbem-17288	178	11	of	of	ADP
fbem-17288	178	12	the	the	DET
fbem-17288	178	13	factors	factor	NOUN
fbem-17288	178	14	influencing	influence	VERB
fbem-17288	178	15	the	the	DET
fbem-17288	178	16	size	size	NOUN
fbem-17288	178	17	of	of	ADP
fbem-17288	178	18	foreign	foreign	ADJ
fbem-17288	178	19	exchange	exchange	NOUN
fbem-17288	178	20	reserves	reserve	NOUN
fbem-17288	178	21	,	,	PUNCT
fbem-17288	178	22	namely	namely	ADV
fbem-17288	178	23	the	the	DET
fbem-17288	178	24	exchange	exchange	NOUN
fbem-17288	178	25	rate	rate	NOUN
fbem-17288	178	26	of	of	ADP
fbem-17288	178	27	the	the	DET
fbem-17288	178	28	chinese	chinese	PROPN
fbem-17288	178	29	yuan	yuan	PROPN
fbem-17288	178	30	to	to	ADP
fbem-17288	178	31	the	the	DET
fbem-17288	178	32	u.s	u.s	PROPN
fbem-17288	178	33	.	.	PROPN
fbem-17288	178	34	dollar	dollar	NOUN
fbem-17288	178	35	,	,	PUNCT
fbem-17288	178	36	external	external	ADJ
fbem-17288	178	37	debt	debt	NOUN
fbem-17288	178	38	balance	balance	NOUN
fbem-17288	178	39	,	,	PUNCT
fbem-17288	178	40	and	and	CCONJ
fbem-17288	178	41	total	total	ADJ
fbem-17288	178	42	imports	import	NOUN
fbem-17288	178	43	,	,	PUNCT
fbem-17288	178	44	we	we	PRON
fbem-17288	178	45	can	can	AUX
fbem-17288	178	46	gain	gain	VERB
fbem-17288	178	47	an	an	DET
fbem-17288	178	48	in	in	ADP
fbem-17288	178	49	-	-	PUNCT
fbem-17288	178	50	depth	depth	NOUN
fbem-17288	178	51	understanding	understanding	NOUN
fbem-17288	178	52	of	of	ADP
fbem-17288	178	53	the	the	DET
fbem-17288	178	54	roles	role	NOUN
fbem-17288	178	55	these	these	DET
fbem-17288	178	56	factors	factor	NOUN
fbem-17288	178	57	play	play	VERB
fbem-17288	178	58	in	in	ADP
fbem-17288	178	59	the	the	DET
fbem-17288	178	60	dynamics	dynamic	NOUN
fbem-17288	178	61	of	of	ADP
fbem-17288	178	62	foreign	foreign	ADJ
fbem-17288	178	63	exchange	exchange	NOUN
fbem-17288	178	64	reserves	reserve	NOUN
fbem-17288	178	65	.	.	PUNCT
fbem-17288	179	1	among	among	ADP
fbem-17288	179	2	these	these	DET
fbem-17288	179	3	factors	factor	NOUN
fbem-17288	179	4	,	,	PUNCT
fbem-17288	179	5	total	total	ADJ
fbem-17288	179	6	imports	import	NOUN
fbem-17288	179	7	are	be	AUX
fbem-17288	179	8	identified	identify	VERB
fbem-17288	179	9	as	as	ADP
fbem-17288	179	10	having	have	VERB
fbem-17288	179	11	the	the	DET
fbem-17288	179	12	most	most	ADV
fbem-17288	179	13	significant	significant	ADJ
fbem-17288	179	14	impact	impact	NOUN
fbem-17288	179	15	on	on	ADP
fbem-17288	179	16	the	the	DET
fbem-17288	179	17	size	size	NOUN
fbem-17288	179	18	of	of	ADP
fbem-17288	179	19	foreign	foreign	ADJ
fbem-17288	179	20	exchange	exchange	NOUN
fbem-17288	179	21	reserves	reserve	NOUN
fbem-17288	179	22	.	.	PUNCT
fbem-17288	180	1	results	result	NOUN
fbem-17288	180	2	from	from	ADP
fbem-17288	180	3	impulse	impulse	ADJ
fbem-17288	180	4	response	response	NOUN
fbem-17288	180	5	analysis	analysis	NOUN
fbem-17288	180	6	reveal	reveal	VERB
fbem-17288	180	7	a	a	DET
fbem-17288	180	8	short	short	ADJ
fbem-17288	180	9	-	-	PUNCT
fbem-17288	180	10	term	term	NOUN
fbem-17288	180	11	negative	negative	ADJ
fbem-17288	180	12	correlation	correlation	NOUN
fbem-17288	180	13	between	between	ADP
fbem-17288	180	14	foreign	foreign	ADJ
fbem-17288	180	15	exchange	exchange	NOUN
fbem-17288	180	16	reserves	reserve	NOUN
fbem-17288	180	17	and	and	CCONJ
fbem-17288	180	18	the	the	DET
fbem-17288	180	19	exchange	exchange	NOUN
fbem-17288	180	20	rate	rate	NOUN
fbem-17288	180	21	of	of	ADP
fbem-17288	180	22	the	the	DET
fbem-17288	180	23	chinese	chinese	PROPN
fbem-17288	180	24	yuan	yuan	PROPN
fbem-17288	180	25	to	to	ADP
fbem-17288	180	26	the	the	DET
fbem-17288	180	27	u.s	u.s	PROPN
fbem-17288	180	28	.	.	PROPN
fbem-17288	180	29	dollar	dollar	NOUN
fbem-17288	180	30	,	,	PUNCT
fbem-17288	180	31	indicating	indicate	VERB
fbem-17288	180	32	that	that	SCONJ
fbem-17288	180	33	foreign	foreign	ADJ
fbem-17288	180	34	exchange	exchange	NOUN
fbem-17288	180	35	reserves	reserve	NOUN
fbem-17288	180	36	respond	respond	VERB
fbem-17288	180	37	correspondingly	correspondingly	ADV
fbem-17288	180	38	to	to	ADP
fbem-17288	180	39	instantaneous	instantaneous	ADJ
fbem-17288	180	40	effects	effect	NOUN
fbem-17288	180	41	of	of	ADP
fbem-17288	180	42	exchange	exchange	NOUN
fbem-17288	180	43	rate	rate	NOUN
fbem-17288	180	44	fluctuations	fluctuation	NOUN
fbem-17288	180	45	.	.	PUNCT
fbem-17288	181	1	in	in	ADP
fbem-17288	181	2	the	the	DET
fbem-17288	181	3	long	long	ADJ
fbem-17288	181	4	term	term	NOUN
fbem-17288	181	5	,	,	PUNCT
fbem-17288	181	6	foreign	foreign	ADJ
fbem-17288	181	7	exchange	exchange	NOUN
fbem-17288	181	8	reserves	reserve	NOUN
fbem-17288	181	9	exhibit	exhibit	VERB
fbem-17288	181	10	a	a	DET
fbem-17288	181	11	positive	positive	ADJ
fbem-17288	181	12	correlation	correlation	NOUN
fbem-17288	181	13	with	with	ADP
fbem-17288	181	14	both	both	CCONJ
fbem-17288	181	15	the	the	DET
fbem-17288	181	16	exchange	exchange	NOUN
fbem-17288	181	17	rate	rate	NOUN
fbem-17288	181	18	of	of	ADP
fbem-17288	181	19	the	the	DET
fbem-17288	181	20	chinese	chinese	PROPN
fbem-17288	181	21	yuan	yuan	PROPN
fbem-17288	181	22	to	to	ADP
fbem-17288	181	23	the	the	DET
fbem-17288	181	24	u.s	u.s	PROPN
fbem-17288	181	25	.	.	PROPN
fbem-17288	181	26	dollar	dollar	NOUN
fbem-17288	181	27	and	and	CCONJ
fbem-17288	181	28	total	total	ADJ
fbem-17288	181	29	imports	import	NOUN
fbem-17288	181	30	,	,	PUNCT
fbem-17288	181	31	possibly	possibly	ADV
fbem-17288	181	32	reflecting	reflect	VERB
fbem-17288	181	33	the	the	DET
fbem-17288	181	34	common	common	ADJ
fbem-17288	181	35	trends	trend	NOUN
fbem-17288	181	36	in	in	ADP
fbem-17288	181	37	international	international	ADJ
fbem-17288	181	38	trade	trade	NOUN
fbem-17288	181	39	and	and	CCONJ
fbem-17288	181	40	exchange	exchange	NOUN
fbem-17288	181	41	rates	rate	NOUN
fbem-17288	181	42	over	over	ADP
fbem-17288	181	43	an	an	DET
fbem-17288	181	44	extended	extended	ADJ
fbem-17288	181	45	period	period	NOUN
fbem-17288	181	46	.	.	PUNCT
fbem-17288	182	1	conversely	conversely	ADV
fbem-17288	182	2	,	,	PUNCT
fbem-17288	182	3	foreign	foreign	ADJ
fbem-17288	182	4	exchange	exchange	NOUN
fbem-17288	182	5	reserves	reserve	NOUN
fbem-17288	182	6	demonstrate	demonstrate	VERB
fbem-17288	182	7	a	a	DET
fbem-17288	182	8	negative	negative	ADJ
fbem-17288	182	9	correlation	correlation	NOUN
fbem-17288	182	10	with	with	ADP
fbem-17288	182	11	external	external	ADJ
fbem-17288	182	12	debt	debt	NOUN
fbem-17288	182	13	balance	balance	NOUN
fbem-17288	182	14	,	,	PUNCT
fbem-17288	182	15	suggesting	suggest	VERB
fbem-17288	182	16	that	that	SCONJ
fbem-17288	182	17	an	an	DET
fbem-17288	182	18	increase	increase	NOUN
fbem-17288	182	19	in	in	ADP
fbem-17288	182	20	external	external	ADJ
fbem-17288	182	21	debt	debt	NOUN
fbem-17288	182	22	exerts	exert	VERB
fbem-17288	182	23	a	a	DET
fbem-17288	182	24	certain	certain	ADJ
fbem-17288	182	25	negative	negative	ADJ
fbem-17288	182	26	pressure	pressure	NOUN
fbem-17288	182	27	on	on	ADP
fbem-17288	182	28	the	the	DET
fbem-17288	182	29	size	size	NOUN
fbem-17288	182	30	of	of	ADP
fbem-17288	182	31	foreign	foreign	ADJ
fbem-17288	182	32	exchange	exchange	NOUN
fbem-17288	182	33	reserves	reserve	NOUN
fbem-17288	182	34	.	.	PUNCT
fbem-17288	183	1	from	from	ADP
fbem-17288	183	2	the	the	DET
fbem-17288	183	3	perspective	perspective	NOUN
fbem-17288	183	4	of	of	ADP
fbem-17288	183	5	variance	variance	NOUN
fbem-17288	183	6	decomposition	decomposition	NOUN
fbem-17288	183	7	,	,	PUNCT
fbem-17288	183	8	the	the	DET
fbem-17288	183	9	impact	impact	NOUN
fbem-17288	183	10	of	of	ADP
fbem-17288	183	11	the	the	DET
fbem-17288	183	12	chinese	chinese	PROPN
fbem-17288	183	13	yuan	yuan	PROPN
fbem-17288	183	14	to	to	ADP
fbem-17288	183	15	u.s	u.s	PROPN
fbem-17288	183	16	.	.	PROPN
fbem-17288	183	17	dollar	dollar	PROPN
fbem-17288	183	18	exchange	exchange	NOUN
fbem-17288	183	19	rate	rate	NOUN
fbem-17288	183	20	and	and	CCONJ
fbem-17288	183	21	external	external	ADJ
fbem-17288	183	22	debt	debt	NOUN
fbem-17288	183	23	balance	balance	NOUN
fbem-17288	183	24	on	on	ADP
fbem-17288	183	25	changes	change	NOUN
fbem-17288	183	26	in	in	ADP
fbem-17288	183	27	foreign	foreign	ADJ
fbem-17288	183	28	exchange	exchange	NOUN
fbem-17288	183	29	reserves	reserve	NOUN
fbem-17288	183	30	is	be	AUX
fbem-17288	183	31	relatively	relatively	ADV
fbem-17288	183	32	small	small	ADJ
fbem-17288	183	33	,	,	PUNCT
fbem-17288	183	34	accounting	account	VERB
fbem-17288	183	35	for	for	ADP
fbem-17288	183	36	approximately	approximately	ADV
fbem-17288	183	37	10	10	NUM
fbem-17288	183	38	%	%	NOUN
fbem-17288	183	39	of	of	ADP
fbem-17288	183	40	the	the	DET
fbem-17288	183	41	overall	overall	ADJ
fbem-17288	183	42	impact	impact	NOUN
fbem-17288	183	43	when	when	SCONJ
fbem-17288	183	44	combined	combine	VERB
fbem-17288	183	45	.	.	PUNCT
fbem-17288	184	1	in	in	ADP
fbem-17288	184	2	contrast	contrast	NOUN
fbem-17288	184	3	,	,	PUNCT
fbem-17288	184	4	total	total	ADJ
fbem-17288	184	5	imports	import	NOUN
fbem-17288	184	6	play	play	VERB
fbem-17288	184	7	a	a	DET
fbem-17288	184	8	crucial	crucial	ADJ
fbem-17288	184	9	role	role	NOUN
fbem-17288	184	10	in	in	ADP
fbem-17288	184	11	this	this	DET
fbem-17288	184	12	decomposition	decomposition	NOUN
fbem-17288	184	13	,	,	PUNCT
fbem-17288	184	14	contributing	contribute	VERB
fbem-17288	184	15	significantly	significantly	ADV
fbem-17288	184	16	to	to	ADP
fbem-17288	184	17	fluctuations	fluctuation	NOUN
fbem-17288	184	18	in	in	ADP
fbem-17288	184	19	foreign	foreign	ADJ
fbem-17288	184	20	exchange	exchange	NOUN
fbem-17288	184	21	reserves	reserve	NOUN
fbem-17288	184	22	,	,	PUNCT
fbem-17288	184	23	especially	especially	ADV
fbem-17288	184	24	over	over	ADP
fbem-17288	184	25	the	the	DET
fbem-17288	184	26	long	long	ADJ
fbem-17288	184	27	term	term	NOUN
fbem-17288	184	28	,	,	PUNCT
fbem-17288	184	29	where	where	SCONJ
fbem-17288	184	30	the	the	DET
fbem-17288	184	31	contribution	contribution	NOUN
fbem-17288	184	32	can	can	AUX
fbem-17288	184	33	reach	reach	VERB
fbem-17288	184	34	around	around	ADP
fbem-17288	184	35	50	50	NUM
fbem-17288	184	36	%	%	NOUN
fbem-17288	184	37	.	.	PUNCT
fbem-17288	185	1	this	this	PRON
fbem-17288	185	2	further	far	ADV
fbem-17288	185	3	emphasizes	emphasize	VERB
fbem-17288	185	4	the	the	DET
fbem-17288	185	5	importance	importance	NOUN
fbem-17288	185	6	of	of	ADP
fbem-17288	185	7	international	international	ADJ
fbem-17288	185	8	trade	trade	NOUN
fbem-17288	185	9	in	in	ADP
fbem-17288	185	10	shaping	shape	VERB
fbem-17288	185	11	the	the	DET
fbem-17288	185	12	size	size	NOUN
fbem-17288	185	13	of	of	ADP
fbem-17288	185	14	foreign	foreign	ADJ
fbem-17288	185	15	exchange	exchange	NOUN
fbem-17288	185	16	reserves	reserve	NOUN
fbem-17288	185	17	,	,	PUNCT
fbem-17288	185	18	particularly	particularly	ADV
fbem-17288	185	19	with	with	ADP
fbem-17288	185	20	a	a	DET
fbem-17288	185	21	notable	notable	ADJ
fbem-17288	185	22	impact	impact	NOUN
fbem-17288	185	23	on	on	ADP
fbem-17288	185	24	long	long	ADJ
fbem-17288	185	25	-	-	PUNCT
fbem-17288	185	26	term	term	NOUN
fbem-17288	185	27	reserve	reserve	NOUN
fbem-17288	185	28	levels	level	NOUN
fbem-17288	185	29	.	.	PUNCT
fbem-17288	186	1	in	in	ADP
fbem-17288	186	2	summary	summary	NOUN
fbem-17288	186	3	,	,	PUNCT
fbem-17288	186	4	the	the	DET
fbem-17288	186	5	analysis	analysis	NOUN
fbem-17288	186	6	indicates	indicate	VERB
fbem-17288	186	7	that	that	SCONJ
fbem-17288	186	8	these	these	DET
fbem-17288	186	9	three	three	NUM
fbem-17288	186	10	factors	factor	NOUN
fbem-17288	186	11	collectively	collectively	ADV
fbem-17288	186	12	influence	influence	VERB
fbem-17288	186	13	variations	variation	NOUN
fbem-17288	186	14	in	in	ADP
fbem-17288	186	15	the	the	DET
fbem-17288	186	16	size	size	NOUN
fbem-17288	186	17	of	of	ADP
fbem-17288	186	18	foreign	foreign	ADJ
fbem-17288	186	19	exchange	exchange	NOUN
fbem-17288	186	20	reserves	reserve	NOUN
fbem-17288	186	21	to	to	ADP
fbem-17288	186	22	a	a	DET
fbem-17288	186	23	certain	certain	ADJ
fbem-17288	186	24	extent	extent	NOUN
fbem-17288	186	25	,	,	PUNCT
fbem-17288	186	26	with	with	ADP
fbem-17288	186	27	total	total	ADJ
fbem-17288	186	28	imports	import	NOUN
fbem-17288	186	29	playing	play	VERB
fbem-17288	186	30	the	the	DET
fbem-17288	186	31	most	most	ADV
fbem-17288	186	32	significant	significant	ADJ
fbem-17288	186	33	role	role	NOUN
fbem-17288	186	34	.	.	PUNCT
fbem-17288	187	1	this	this	DET
fbem-17288	187	2	in	in	ADP
fbem-17288	187	3	-	-	PUNCT
fbem-17288	187	4	depth	depth	NOUN
fbem-17288	187	5	exploration	exploration	NOUN
fbem-17288	187	6	contributes	contribute	VERB
fbem-17288	187	7	to	to	ADP
fbem-17288	187	8	a	a	DET
fbem-17288	187	9	more	more	ADV
fbem-17288	187	10	comprehensive	comprehensive	ADJ
fbem-17288	187	11	understanding	understanding	NOUN
fbem-17288	187	12	of	of	ADP
fbem-17288	187	13	the	the	DET
fbem-17288	187	14	mechanisms	mechanism	NOUN
fbem-17288	187	15	behind	behind	ADP
fbem-17288	187	16	foreign	foreign	ADJ
fbem-17288	187	17	exchange	exchange	NOUN
fbem-17288	187	18	reserves	reserve	NOUN
fbem-17288	187	19	,	,	PUNCT
fbem-17288	187	20	offering	offer	VERB
fbem-17288	187	21	more	more	ADV
fbem-17288	187	22	accurate	accurate	ADJ
fbem-17288	187	23	guidance	guidance	NOUN
fbem-17288	187	24	for	for	ADP
fbem-17288	187	25	policy	policy	NOUN
fbem-17288	187	26	formulation	formulation	NOUN
fbem-17288	187	27	.	.	PUNCT
fbem-17288	188	1	these	these	DET
fbem-17288	188	2	research	research	NOUN
fbem-17288	188	3	findings	finding	NOUN
fbem-17288	188	4	not	not	PART
fbem-17288	188	5	only	only	ADV
fbem-17288	188	6	provide	provide	VERB
fbem-17288	188	7	valuable	valuable	ADJ
fbem-17288	188	8	insights	insight	NOUN
fbem-17288	188	9	into	into	ADP
fbem-17288	188	10	the	the	DET
fbem-17288	188	11	foreign	foreign	ADJ
fbem-17288	188	12	exchange	exchange	NOUN
fbem-17288	188	13	market	market	NOUN
fbem-17288	188	14	and	and	CCONJ
fbem-17288	188	15	international	international	ADJ
fbem-17288	188	16	trade	trade	NOUN
fbem-17288	188	17	but	but	CCONJ
fbem-17288	188	18	also	also	ADV
fbem-17288	188	19	serve	serve	VERB
fbem-17288	188	20	as	as	ADP
fbem-17288	188	21	beneficial	beneficial	ADJ
fbem-17288	188	22	references	reference	NOUN
fbem-17288	188	23	for	for	ADP
fbem-17288	188	24	decision	decision	NOUN
fbem-17288	188	25	-	-	PUNCT
fbem-17288	188	26	makers	maker	NOUN
fbem-17288	188	27	in	in	ADP
fbem-17288	188	28	formulating	formulate	VERB
fbem-17288	188	29	future	future	ADJ
fbem-17288	188	30	policies	policy	NOUN
fbem-17288	188	31	and	and	CCONJ
fbem-17288	188	32	addressing	address	VERB
fbem-17288	188	33	external	external	ADJ
fbem-17288	188	34	economic	economic	ADJ
fbem-17288	188	35	changes	change	NOUN
fbem-17288	188	36	.	.	PUNCT
fbem-17288	189	1	5	5	X
fbem-17288	189	2	.	.	NUM
fbem-17288	189	3	references	reference	NOUN
fbem-17288	189	4	policy	policy	NOUN
fbem-17288	189	5	suggestion	suggestion	NOUN
fbem-17288	189	6	there	there	PRON
fbem-17288	189	7	are	be	VERB
fbem-17288	189	8	various	various	ADJ
fbem-17288	189	9	factors	factor	NOUN
fbem-17288	189	10	influencing	influence	VERB
fbem-17288	189	11	the	the	DET
fbem-17288	189	12	optimal	optimal	ADJ
fbem-17288	189	13	scale	scale	NOUN
fbem-17288	189	14	of	of	ADP
fbem-17288	189	15	foreign	foreign	ADJ
fbem-17288	189	16	exchange	exchange	NOUN
fbem-17288	189	17	reserves	reserve	NOUN
fbem-17288	189	18	.	.	PUNCT
fbem-17288	190	1	this	this	DET
fbem-17288	190	2	paper	paper	NOUN
fbem-17288	190	3	enumerates	enumerate	VERB
fbem-17288	190	4	three	three	NUM
fbem-17288	190	5	of	of	ADP
fbem-17288	190	6	these	these	DET
fbem-17288	190	7	factors	factor	NOUN
fbem-17288	190	8	,	,	PUNCT
fbem-17288	190	9	thereby	thereby	ADV
fbem-17288	190	10	deriving	derive	VERB
fbem-17288	190	11	a	a	DET
fbem-17288	190	12	general	general	ADJ
fbem-17288	190	13	approach	approach	NOUN
fbem-17288	190	14	to	to	PART
fbem-17288	190	15	analyze	analyze	VERB
fbem-17288	190	16	the	the	DET
fbem-17288	190	17	impact	impact	NOUN
fbem-17288	190	18	of	of	ADP
fbem-17288	190	19	each	each	DET
fbem-17288	190	20	factor	factor	NOUN
fbem-17288	190	21	on	on	ADP
fbem-17288	190	22	foreign	foreign	ADJ
fbem-17288	190	23	exchange	exchange	NOUN
fbem-17288	190	24	reserves	reserve	NOUN
fbem-17288	190	25	.	.	PUNCT
fbem-17288	191	1	based	base	VERB
fbem-17288	191	2	on	on	ADP
fbem-17288	191	3	the	the	DET
fbem-17288	191	4	three	three	NUM
fbem-17288	191	5	variables	variable	NOUN
fbem-17288	191	6	selected	select	VERB
fbem-17288	191	7	in	in	ADP
fbem-17288	191	8	this	this	DET
fbem-17288	191	9	paper	paper	NOUN
fbem-17288	191	10	,	,	PUNCT
fbem-17288	191	11	the	the	DET
fbem-17288	191	12	following	follow	VERB
fbem-17288	191	13	recommendations	recommendation	NOUN
fbem-17288	191	14	are	be	AUX
fbem-17288	191	15	proposed	propose	VERB
fbem-17288	191	16	:	:	PUNCT
fbem-17288	191	17	5.1	5.1	NUM
fbem-17288	191	18	stabilize	stabilize	NOUN
fbem-17288	191	19	exchange	exchange	NOUN
fbem-17288	191	20	rate	rate	NOUN
fbem-17288	191	21	regarding	regard	VERB
fbem-17288	191	22	the	the	DET
fbem-17288	191	23	importance	importance	NOUN
fbem-17288	191	24	of	of	ADP
fbem-17288	191	25	exchange	exchange	NOUN
fbem-17288	191	26	rate	rate	NOUN
fbem-17288	191	27	stability	stability	NOUN
fbem-17288	191	28	,	,	PUNCT
fbem-17288	191	29	despite	despite	SCONJ
fbem-17288	191	30	the	the	DET
fbem-17288	191	31	analysis	analysis	NOUN
fbem-17288	191	32	above	above	ADP
fbem-17288	191	33	indicating	indicate	VERB
fbem-17288	191	34	a	a	DET
fbem-17288	191	35	relatively	relatively	ADV
fbem-17288	191	36	minor	minor	ADJ
fbem-17288	191	37	impact	impact	NOUN
fbem-17288	191	38	of	of	ADP
fbem-17288	191	39	the	the	DET
fbem-17288	191	40	rmb	rmb	NOUN
fbem-17288	191	41	to	to	ADP
fbem-17288	191	42	usd	usd	NOUN
fbem-17288	191	43	exchange	exchange	NOUN
fbem-17288	191	44	rate	rate	NOUN
fbem-17288	191	45	on	on	ADP
fbem-17288	191	46	the	the	DET
fbem-17288	191	47	fluctuation	fluctuation	NOUN
fbem-17288	191	48	106	106	NUM
fbem-17288	191	49	of	of	ADP
fbem-17288	191	50	foreign	foreign	ADJ
fbem-17288	191	51	exchange	exchange	NOUN
fbem-17288	191	52	reserves	reserve	NOUN
fbem-17288	191	53	,	,	PUNCT
fbem-17288	191	54	stable	stable	ADJ
fbem-17288	191	55	exchange	exchange	NOUN
fbem-17288	191	56	rates	rate	NOUN
fbem-17288	191	57	have	have	VERB
fbem-17288	191	58	a	a	DET
fbem-17288	191	59	multifaceted	multifaceted	ADJ
fbem-17288	191	60	impact	impact	NOUN
fbem-17288	191	61	on	on	ADP
fbem-17288	191	62	the	the	DET
fbem-17288	191	63	scale	scale	NOUN
fbem-17288	191	64	of	of	ADP
fbem-17288	191	65	foreign	foreign	ADJ
fbem-17288	191	66	exchange	exchange	NOUN
fbem-17288	191	67	reserves	reserve	NOUN
fbem-17288	191	68	.	.	PUNCT
fbem-17288	192	1	in	in	ADP
fbem-17288	192	2	recent	recent	ADJ
fbem-17288	192	3	years	year	NOUN
fbem-17288	192	4	,	,	PUNCT
fbem-17288	192	5	china	china	PROPN
fbem-17288	192	6	has	have	AUX
fbem-17288	192	7	faced	face	VERB
fbem-17288	192	8	challenges	challenge	NOUN
fbem-17288	192	9	to	to	ADP
fbem-17288	192	10	economic	economic	ADJ
fbem-17288	192	11	development	development	NOUN
fbem-17288	192	12	from	from	ADP
fbem-17288	192	13	various	various	ADJ
fbem-17288	192	14	factors	factor	NOUN
fbem-17288	192	15	such	such	ADJ
fbem-17288	192	16	as	as	ADP
fbem-17288	192	17	u.s.-china	u.s.-china	ADJ
fbem-17288	192	18	trade	trade	NOUN
fbem-17288	192	19	tensions	tension	NOUN
fbem-17288	192	20	,	,	PUNCT
fbem-17288	192	21	the	the	DET
fbem-17288	192	22	covid-19	covid-19	PROPN
fbem-17288	192	23	pandemic	pandemic	NOUN
fbem-17288	192	24	,	,	PUNCT
fbem-17288	192	25	russia	russia	PROPN
fbem-17288	192	26	-	-	PUNCT
fbem-17288	192	27	ukraine	ukraine	PROPN
fbem-17288	192	28	conflict	conflict	NOUN
fbem-17288	192	29	,	,	PUNCT
fbem-17288	192	30	anti	anti	ADJ
fbem-17288	192	31	-	-	ADJ
fbem-17288	192	32	globalization	globalization	ADJ
fbem-17288	192	33	trends	trend	NOUN
fbem-17288	192	34	,	,	PUNCT
fbem-17288	192	35	and	and	CCONJ
fbem-17288	192	36	international	international	ADJ
fbem-17288	192	37	populism	populism	NOUN
fbem-17288	192	38	.	.	PUNCT
fbem-17288	193	1	in	in	ADP
fbem-17288	193	2	this	this	DET
fbem-17288	193	3	complex	complex	ADJ
fbem-17288	193	4	international	international	ADJ
fbem-17288	193	5	context	context	NOUN
fbem-17288	193	6	,	,	PUNCT
fbem-17288	193	7	the	the	DET
fbem-17288	193	8	fluctuations	fluctuation	NOUN
fbem-17288	193	9	in	in	ADP
fbem-17288	193	10	the	the	DET
fbem-17288	193	11	rmb	rmb	NOUN
fbem-17288	193	12	to	to	ADP
fbem-17288	193	13	usd	usd	NOUN
fbem-17288	193	14	exchange	exchange	NOUN
fbem-17288	193	15	rate	rate	NOUN
fbem-17288	193	16	have	have	AUX
fbem-17288	193	17	been	be	AUX
fbem-17288	193	18	increasing	increase	VERB
fbem-17288	193	19	continuously	continuously	ADV
fbem-17288	193	20	,	,	PUNCT
fbem-17288	193	21	influenced	influence	VERB
fbem-17288	193	22	by	by	ADP
fbem-17288	193	23	changes	change	NOUN
fbem-17288	193	24	in	in	ADP
fbem-17288	193	25	the	the	DET
fbem-17288	193	26	external	external	ADJ
fbem-17288	193	27	environment	environment	NOUN
fbem-17288	193	28	.	.	PUNCT
fbem-17288	194	1	therefore	therefore	ADV
fbem-17288	194	2	,	,	PUNCT
fbem-17288	194	3	to	to	PART
fbem-17288	194	4	maintain	maintain	VERB
fbem-17288	194	5	the	the	DET
fbem-17288	194	6	stability	stability	NOUN
fbem-17288	194	7	of	of	ADP
fbem-17288	194	8	the	the	DET
fbem-17288	194	9	scale	scale	NOUN
fbem-17288	194	10	of	of	ADP
fbem-17288	194	11	foreign	foreign	ADJ
fbem-17288	194	12	exchange	exchange	NOUN
fbem-17288	194	13	reserves	reserve	NOUN
fbem-17288	194	14	,	,	PUNCT
fbem-17288	194	15	the	the	DET
fbem-17288	194	16	central	central	ADJ
fbem-17288	194	17	bank	bank	NOUN
fbem-17288	194	18	should	should	AUX
fbem-17288	194	19	take	take	VERB
fbem-17288	194	20	measures	measure	NOUN
fbem-17288	194	21	to	to	PART
fbem-17288	194	22	keep	keep	VERB
fbem-17288	194	23	the	the	DET
fbem-17288	194	24	rmb	rmb	NOUN
fbem-17288	194	25	to	to	ADP
fbem-17288	194	26	usd	usd	NOUN
fbem-17288	194	27	exchange	exchange	NOUN
fbem-17288	194	28	rate	rate	NOUN
fbem-17288	194	29	relatively	relatively	ADV
fbem-17288	194	30	stable	stable	ADJ
fbem-17288	194	31	and	and	CCONJ
fbem-17288	194	32	restrain	restrain	VERB
fbem-17288	194	33	excessive	excessive	ADJ
fbem-17288	194	34	fluctuations	fluctuation	NOUN
fbem-17288	194	35	in	in	ADP
fbem-17288	194	36	the	the	DET
fbem-17288	194	37	exchange	exchange	NOUN
fbem-17288	194	38	rate	rate	NOUN
fbem-17288	194	39	.	.	PUNCT
fbem-17288	195	1	considering	consider	VERB
fbem-17288	195	2	the	the	DET
fbem-17288	195	3	uncertainty	uncertainty	NOUN
fbem-17288	195	4	of	of	ADP
fbem-17288	195	5	the	the	DET
fbem-17288	195	6	current	current	ADJ
fbem-17288	195	7	economic	economic	ADJ
fbem-17288	195	8	situation	situation	NOUN
fbem-17288	195	9	,	,	PUNCT
fbem-17288	195	10	the	the	DET
fbem-17288	195	11	central	central	ADJ
fbem-17288	195	12	bank	bank	NOUN
fbem-17288	195	13	,	,	PUNCT
fbem-17288	195	14	in	in	ADP
fbem-17288	195	15	formulating	formulate	VERB
fbem-17288	195	16	policies	policy	NOUN
fbem-17288	195	17	,	,	PUNCT
fbem-17288	195	18	should	should	AUX
fbem-17288	195	19	closely	closely	ADV
fbem-17288	195	20	monitor	monitor	VERB
fbem-17288	195	21	changes	change	NOUN
fbem-17288	195	22	in	in	ADP
fbem-17288	195	23	the	the	DET
fbem-17288	195	24	international	international	ADJ
fbem-17288	195	25	economic	economic	ADJ
fbem-17288	195	26	environment	environment	NOUN
fbem-17288	195	27	and	and	CCONJ
fbem-17288	195	28	take	take	VERB
fbem-17288	195	29	appropriate	appropriate	ADJ
fbem-17288	195	30	monetary	monetary	ADJ
fbem-17288	195	31	policy	policy	NOUN
fbem-17288	195	32	measures	measure	NOUN
fbem-17288	195	33	.	.	PUNCT
fbem-17288	196	1	for	for	ADP
fbem-17288	196	2	instance	instance	NOUN
fbem-17288	196	3	,	,	PUNCT
fbem-17288	196	4	monitoring	monitor	VERB
fbem-17288	196	5	and	and	CCONJ
fbem-17288	196	6	analyzing	analyze	VERB
fbem-17288	196	7	factors	factor	NOUN
fbem-17288	196	8	that	that	PRON
fbem-17288	196	9	may	may	AUX
fbem-17288	196	10	lead	lead	VERB
fbem-17288	196	11	to	to	ADP
fbem-17288	196	12	fluctuations	fluctuation	NOUN
fbem-17288	196	13	in	in	ADP
fbem-17288	196	14	the	the	DET
fbem-17288	196	15	rmb	rmb	NOUN
fbem-17288	196	16	to	to	ADP
fbem-17288	196	17	usd	usd	NOUN
fbem-17288	196	18	exchange	exchange	NOUN
fbem-17288	196	19	rate	rate	NOUN
fbem-17288	196	20	and	and	CCONJ
fbem-17288	196	21	adjusting	adjust	VERB
fbem-17288	196	22	policies	policy	NOUN
fbem-17288	196	23	promptly	promptly	ADV
fbem-17288	196	24	to	to	PART
fbem-17288	196	25	ensure	ensure	VERB
fbem-17288	196	26	the	the	DET
fbem-17288	196	27	optimal	optimal	ADJ
fbem-17288	196	28	scale	scale	NOUN
fbem-17288	196	29	of	of	ADP
fbem-17288	196	30	foreign	foreign	ADJ
fbem-17288	196	31	exchange	exchange	NOUN
fbem-17288	196	32	reserves	reserve	NOUN
fbem-17288	196	33	.	.	PUNCT
fbem-17288	197	1	furthermore	furthermore	ADV
fbem-17288	197	2	,	,	PUNCT
fbem-17288	197	3	to	to	PART
fbem-17288	197	4	better	well	ADV
fbem-17288	197	5	adapt	adapt	VERB
fbem-17288	197	6	to	to	ADP
fbem-17288	197	7	global	global	ADJ
fbem-17288	197	8	economic	economic	ADJ
fbem-17288	197	9	fluctuations	fluctuation	NOUN
fbem-17288	197	10	,	,	PUNCT
fbem-17288	197	11	the	the	DET
fbem-17288	197	12	central	central	ADJ
fbem-17288	197	13	bank	bank	NOUN
fbem-17288	197	14	may	may	AUX
fbem-17288	197	15	also	also	ADV
fbem-17288	197	16	consider	consider	VERB
fbem-17288	197	17	diversifying	diversify	VERB
fbem-17288	197	18	the	the	DET
fbem-17288	197	19	composition	composition	NOUN
fbem-17288	197	20	of	of	ADP
fbem-17288	197	21	foreign	foreign	ADJ
fbem-17288	197	22	exchange	exchange	NOUN
fbem-17288	197	23	reserves	reserve	NOUN
fbem-17288	197	24	,	,	PUNCT
fbem-17288	197	25	reducing	reduce	VERB
fbem-17288	197	26	dependence	dependence	NOUN
fbem-17288	197	27	on	on	ADP
fbem-17288	197	28	specific	specific	ADJ
fbem-17288	197	29	currencies	currency	NOUN
fbem-17288	197	30	to	to	PART
fbem-17288	197	31	mitigate	mitigate	VERB
fbem-17288	197	32	risks	risk	NOUN
fbem-17288	197	33	arising	arise	VERB
fbem-17288	197	34	from	from	ADP
fbem-17288	197	35	fluctuations	fluctuation	NOUN
fbem-17288	197	36	in	in	ADP
fbem-17288	197	37	specific	specific	ADJ
fbem-17288	197	38	currencies	currency	NOUN
fbem-17288	197	39	.	.	PUNCT
fbem-17288	198	1	by	by	ADP
fbem-17288	198	2	establishing	establish	VERB
fbem-17288	198	3	a	a	DET
fbem-17288	198	4	more	more	ADV
fbem-17288	198	5	flexible	flexible	ADJ
fbem-17288	198	6	foreign	foreign	ADJ
fbem-17288	198	7	exchange	exchange	NOUN
fbem-17288	198	8	reserve	reserve	NOUN
fbem-17288	198	9	management	management	NOUN
fbem-17288	198	10	mechanism	mechanism	NOUN
fbem-17288	198	11	,	,	PUNCT
fbem-17288	198	12	the	the	DET
fbem-17288	198	13	central	central	ADJ
fbem-17288	198	14	bank	bank	NOUN
fbem-17288	198	15	can	can	AUX
fbem-17288	198	16	better	well	ADV
fbem-17288	198	17	maintain	maintain	VERB
fbem-17288	198	18	the	the	DET
fbem-17288	198	19	longterm	longterm	ADJ
fbem-17288	198	20	stability	stability	NOUN
fbem-17288	198	21	and	and	CCONJ
fbem-17288	198	22	robustness	robustness	NOUN
fbem-17288	198	23	of	of	ADP
fbem-17288	198	24	foreign	foreign	ADJ
fbem-17288	198	25	exchange	exchange	NOUN
fbem-17288	198	26	reserves	reserve	NOUN
fbem-17288	198	27	.	.	PUNCT
fbem-17288	199	1	5.2	5.2	NUM
fbem-17288	199	2	prudently	prudently	ADV
fbem-17288	199	3	manage	manage	VERB
fbem-17288	199	4	external	external	ADJ
fbem-17288	199	5	debt	debt	NOUN
fbem-17288	199	6	the	the	DET
fbem-17288	199	7	negative	negative	ADJ
fbem-17288	199	8	correlation	correlation	NOUN
fbem-17288	199	9	between	between	ADP
fbem-17288	199	10	the	the	DET
fbem-17288	199	11	external	external	ADJ
fbem-17288	199	12	debt	debt	NOUN
fbem-17288	199	13	balance	balance	NOUN
fbem-17288	199	14	and	and	CCONJ
fbem-17288	199	15	china	china	PROPN
fbem-17288	199	16	's	's	PART
fbem-17288	199	17	foreign	foreign	ADJ
fbem-17288	199	18	exchange	exchange	NOUN
fbem-17288	199	19	reserves	reserve	NOUN
fbem-17288	199	20	requires	require	VERB
fbem-17288	199	21	the	the	DET
fbem-17288	199	22	government	government	NOUN
fbem-17288	199	23	's	's	PART
fbem-17288	199	24	high	high	ADJ
fbem-17288	199	25	attention	attention	NOUN
fbem-17288	199	26	.	.	PUNCT
fbem-17288	200	1	in	in	ADP
fbem-17288	200	2	order	order	NOUN
fbem-17288	200	3	to	to	PART
fbem-17288	200	4	enhance	enhance	VERB
fbem-17288	200	5	the	the	DET
fbem-17288	200	6	efficiency	efficiency	NOUN
fbem-17288	200	7	of	of	ADP
fbem-17288	200	8	external	external	ADJ
fbem-17288	200	9	debt	debt	NOUN
fbem-17288	200	10	utilization	utilization	NOUN
fbem-17288	200	11	,	,	PUNCT
fbem-17288	200	12	the	the	DET
fbem-17288	200	13	government	government	NOUN
fbem-17288	200	14	may	may	AUX
fbem-17288	200	15	consider	consider	VERB
fbem-17288	200	16	implementing	implement	VERB
fbem-17288	200	17	a	a	DET
fbem-17288	200	18	series	series	NOUN
fbem-17288	200	19	of	of	ADP
fbem-17288	200	20	measures	measure	NOUN
fbem-17288	200	21	:	:	PUNCT
fbem-17288	200	22	firstly	firstly	ADV
fbem-17288	200	23	,	,	PUNCT
fbem-17288	200	24	it	it	PRON
fbem-17288	200	25	is	be	AUX
fbem-17288	200	26	recommended	recommend	VERB
fbem-17288	200	27	to	to	PART
fbem-17288	200	28	establish	establish	VERB
fbem-17288	200	29	a	a	DET
fbem-17288	200	30	unified	unified	ADJ
fbem-17288	200	31	external	external	ADJ
fbem-17288	200	32	debt	debt	NOUN
fbem-17288	200	33	management	management	NOUN
fbem-17288	200	34	institution	institution	NOUN
fbem-17288	200	35	to	to	PART
fbem-17288	200	36	ensure	ensure	VERB
fbem-17288	200	37	effective	effective	ADJ
fbem-17288	200	38	supervision	supervision	NOUN
fbem-17288	200	39	and	and	CCONJ
fbem-17288	200	40	control	control	NOUN
fbem-17288	200	41	of	of	ADP
fbem-17288	200	42	external	external	ADJ
fbem-17288	200	43	debt	debt	NOUN
fbem-17288	200	44	.	.	PUNCT
fbem-17288	201	1	by	by	ADP
fbem-17288	201	2	centrally	centrally	ADV
fbem-17288	201	3	managing	manage	VERB
fbem-17288	201	4	external	external	ADJ
fbem-17288	201	5	debt	debt	NOUN
fbem-17288	201	6	,	,	PUNCT
fbem-17288	201	7	the	the	DET
fbem-17288	201	8	government	government	NOUN
fbem-17288	201	9	can	can	AUX
fbem-17288	201	10	more	more	ADV
fbem-17288	201	11	accurately	accurately	ADV
fbem-17288	201	12	grasp	grasp	VERB
fbem-17288	201	13	the	the	DET
fbem-17288	201	14	situation	situation	NOUN
fbem-17288	201	15	of	of	ADP
fbem-17288	201	16	external	external	ADJ
fbem-17288	201	17	debt	debt	NOUN
fbem-17288	201	18	,	,	PUNCT
fbem-17288	201	19	timely	timely	ADV
fbem-17288	201	20	formulate	formulate	ADJ
fbem-17288	201	21	corresponding	corresponding	ADJ
fbem-17288	201	22	policies	policy	NOUN
fbem-17288	201	23	to	to	PART
fbem-17288	201	24	respond	respond	VERB
fbem-17288	201	25	to	to	ADP
fbem-17288	201	26	fluctuations	fluctuation	NOUN
fbem-17288	201	27	in	in	ADP
fbem-17288	201	28	external	external	ADJ
fbem-17288	201	29	debt	debt	NOUN
fbem-17288	201	30	,	,	PUNCT
fbem-17288	201	31	and	and	CCONJ
fbem-17288	201	32	maintain	maintain	VERB
fbem-17288	201	33	a	a	DET
fbem-17288	201	34	reasonable	reasonable	ADJ
fbem-17288	201	35	scale	scale	NOUN
fbem-17288	201	36	of	of	ADP
fbem-17288	201	37	external	external	ADJ
fbem-17288	201	38	debt	debt	NOUN
fbem-17288	201	39	.	.	PUNCT
fbem-17288	202	1	secondly	secondly	ADV
fbem-17288	202	2	,	,	PUNCT
fbem-17288	202	3	it	it	PRON
fbem-17288	202	4	is	be	AUX
fbem-17288	202	5	suggested	suggest	VERB
fbem-17288	202	6	to	to	PART
fbem-17288	202	7	formulate	formulate	VERB
fbem-17288	202	8	a	a	DET
fbem-17288	202	9	scientific	scientific	ADJ
fbem-17288	202	10	method	method	NOUN
fbem-17288	202	11	for	for	ADP
fbem-17288	202	12	managing	manage	VERB
fbem-17288	202	13	the	the	DET
fbem-17288	202	14	size	size	NOUN
fbem-17288	202	15	of	of	ADP
fbem-17288	202	16	external	external	ADJ
fbem-17288	202	17	debt	debt	NOUN
fbem-17288	202	18	.	.	PUNCT
fbem-17288	203	1	the	the	DET
fbem-17288	203	2	government	government	NOUN
fbem-17288	203	3	can	can	AUX
fbem-17288	203	4	draw	draw	VERB
fbem-17288	203	5	on	on	ADP
fbem-17288	203	6	international	international	ADJ
fbem-17288	203	7	experience	experience	NOUN
fbem-17288	203	8	to	to	PART
fbem-17288	203	9	establish	establish	VERB
fbem-17288	203	10	a	a	DET
fbem-17288	203	11	scientific	scientific	ADJ
fbem-17288	203	12	external	external	ADJ
fbem-17288	203	13	debt	debt	NOUN
fbem-17288	203	14	management	management	NOUN
fbem-17288	203	15	model	model	NOUN
fbem-17288	203	16	,	,	PUNCT
fbem-17288	203	17	taking	take	VERB
fbem-17288	203	18	into	into	ADP
fbem-17288	203	19	account	account	NOUN
fbem-17288	203	20	factors	factor	NOUN
fbem-17288	203	21	such	such	ADJ
fbem-17288	203	22	as	as	ADP
fbem-17288	203	23	the	the	DET
fbem-17288	203	24	country	country	NOUN
fbem-17288	203	25	's	's	PART
fbem-17288	203	26	economic	economic	ADJ
fbem-17288	203	27	conditions	condition	NOUN
fbem-17288	203	28	,	,	PUNCT
fbem-17288	203	29	changes	change	NOUN
fbem-17288	203	30	in	in	ADP
fbem-17288	203	31	the	the	DET
fbem-17288	203	32	international	international	ADJ
fbem-17288	203	33	financial	financial	ADJ
fbem-17288	203	34	markets	market	NOUN
fbem-17288	203	35	,	,	PUNCT
fbem-17288	203	36	and	and	CCONJ
fbem-17288	203	37	set	set	VERB
fbem-17288	203	38	reasonable	reasonable	ADJ
fbem-17288	203	39	external	external	ADJ
fbem-17288	203	40	debt	debt	NOUN
fbem-17288	203	41	size	size	NOUN
fbem-17288	203	42	targets	target	NOUN
fbem-17288	203	43	.	.	PUNCT
fbem-17288	204	1	this	this	PRON
fbem-17288	204	2	can	can	AUX
fbem-17288	204	3	better	well	ADV
fbem-17288	204	4	balance	balance	VERB
fbem-17288	204	5	the	the	DET
fbem-17288	204	6	scale	scale	NOUN
fbem-17288	204	7	of	of	ADP
fbem-17288	204	8	external	external	ADJ
fbem-17288	204	9	debt	debt	NOUN
fbem-17288	204	10	,	,	PUNCT
fbem-17288	204	11	ensuring	ensure	VERB
fbem-17288	204	12	both	both	CCONJ
fbem-17288	204	13	the	the	DET
fbem-17288	204	14	repayment	repayment	NOUN
fbem-17288	204	15	capacity	capacity	NOUN
fbem-17288	204	16	of	of	ADP
fbem-17288	204	17	external	external	ADJ
fbem-17288	204	18	debt	debt	NOUN
fbem-17288	204	19	and	and	CCONJ
fbem-17288	204	20	avoiding	avoid	VERB
fbem-17288	204	21	rapid	rapid	ADJ
fbem-17288	204	22	expansion	expansion	NOUN
fbem-17288	204	23	of	of	ADP
fbem-17288	204	24	external	external	ADJ
fbem-17288	204	25	debt	debt	NOUN
fbem-17288	204	26	,	,	PUNCT
fbem-17288	204	27	thereby	thereby	ADV
fbem-17288	204	28	reducing	reduce	VERB
fbem-17288	204	29	external	external	ADJ
fbem-17288	204	30	debt	debt	NOUN
fbem-17288	204	31	risks	risk	NOUN
fbem-17288	204	32	.	.	PUNCT
fbem-17288	205	1	additionally	additionally	ADV
fbem-17288	205	2	,	,	PUNCT
fbem-17288	205	3	the	the	DET
fbem-17288	205	4	government	government	NOUN
fbem-17288	205	5	can	can	AUX
fbem-17288	205	6	optimize	optimize	VERB
fbem-17288	205	7	the	the	DET
fbem-17288	205	8	structure	structure	NOUN
fbem-17288	205	9	of	of	ADP
fbem-17288	205	10	external	external	ADJ
fbem-17288	205	11	debt	debt	NOUN
fbem-17288	205	12	,	,	PUNCT
fbem-17288	205	13	improve	improve	VERB
fbem-17288	205	14	the	the	DET
fbem-17288	205	15	efficiency	efficiency	NOUN
fbem-17288	205	16	of	of	ADP
fbem-17288	205	17	external	external	ADJ
fbem-17288	205	18	debt	debt	NOUN
fbem-17288	205	19	utilization	utilization	NOUN
fbem-17288	205	20	,	,	PUNCT
fbem-17288	205	21	and	and	CCONJ
fbem-17288	205	22	reduce	reduce	VERB
fbem-17288	205	23	the	the	DET
fbem-17288	205	24	financial	financial	ADJ
fbem-17288	205	25	costs	cost	NOUN
fbem-17288	205	26	of	of	ADP
fbem-17288	205	27	external	external	ADJ
fbem-17288	205	28	debt	debt	NOUN
fbem-17288	205	29	.	.	PUNCT
fbem-17288	206	1	this	this	PRON
fbem-17288	206	2	can	can	AUX
fbem-17288	206	3	better	well	ADV
fbem-17288	206	4	achieve	achieve	VERB
fbem-17288	206	5	the	the	DET
fbem-17288	206	6	goal	goal	NOUN
fbem-17288	206	7	of	of	ADP
fbem-17288	206	8	balancing	balance	VERB
fbem-17288	206	9	foreign	foreign	ADJ
fbem-17288	206	10	exchange	exchange	NOUN
fbem-17288	206	11	reserves	reserve	NOUN
fbem-17288	206	12	.	.	PUNCT
fbem-17288	207	1	in	in	ADP
fbem-17288	207	2	the	the	DET
fbem-17288	207	3	process	process	NOUN
fbem-17288	207	4	of	of	ADP
fbem-17288	207	5	managing	manage	VERB
fbem-17288	207	6	external	external	ADJ
fbem-17288	207	7	debt	debt	NOUN
fbem-17288	207	8	,	,	PUNCT
fbem-17288	207	9	it	it	PRON
fbem-17288	207	10	is	be	AUX
fbem-17288	207	11	essential	essential	ADJ
fbem-17288	207	12	to	to	PART
fbem-17288	207	13	carefully	carefully	ADV
fbem-17288	207	14	balance	balance	VERB
fbem-17288	207	15	the	the	DET
fbem-17288	207	16	flexibility	flexibility	NOUN
fbem-17288	207	17	of	of	ADP
fbem-17288	207	18	external	external	ADJ
fbem-17288	207	19	debt	debt	NOUN
fbem-17288	207	20	utilization	utilization	NOUN
fbem-17288	207	21	and	and	CCONJ
fbem-17288	207	22	the	the	DET
fbem-17288	207	23	stability	stability	NOUN
fbem-17288	207	24	of	of	ADP
fbem-17288	207	25	external	external	ADJ
fbem-17288	207	26	debt	debt	NOUN
fbem-17288	207	27	size	size	NOUN
fbem-17288	207	28	to	to	PART
fbem-17288	207	29	ensure	ensure	VERB
fbem-17288	207	30	the	the	DET
fbem-17288	207	31	rational	rational	ADJ
fbem-17288	207	32	management	management	NOUN
fbem-17288	207	33	of	of	ADP
fbem-17288	207	34	external	external	ADJ
fbem-17288	207	35	debt	debt	NOUN
fbem-17288	207	36	.	.	PUNCT
fbem-17288	208	1	in	in	ADP
fbem-17288	208	2	conclusion	conclusion	NOUN
fbem-17288	208	3	,	,	PUNCT
fbem-17288	208	4	prudently	prudently	ADV
fbem-17288	208	5	managing	manage	VERB
fbem-17288	208	6	external	external	ADJ
fbem-17288	208	7	debt	debt	NOUN
fbem-17288	208	8	is	be	AUX
fbem-17288	208	9	a	a	DET
fbem-17288	208	10	crucial	crucial	ADJ
fbem-17288	208	11	aspect	aspect	NOUN
fbem-17288	208	12	of	of	ADP
fbem-17288	208	13	maintaining	maintain	VERB
fbem-17288	208	14	an	an	DET
fbem-17288	208	15	appropriate	appropriate	ADJ
fbem-17288	208	16	scale	scale	NOUN
fbem-17288	208	17	of	of	ADP
fbem-17288	208	18	foreign	foreign	ADJ
fbem-17288	208	19	exchange	exchange	NOUN
fbem-17288	208	20	reserves	reserve	NOUN
fbem-17288	208	21	.	.	PUNCT
fbem-17288	209	1	the	the	DET
fbem-17288	209	2	government	government	NOUN
fbem-17288	209	3	should	should	AUX
fbem-17288	209	4	take	take	VERB
fbem-17288	209	5	effective	effective	ADJ
fbem-17288	209	6	measures	measure	NOUN
fbem-17288	209	7	to	to	PART
fbem-17288	209	8	ensure	ensure	VERB
fbem-17288	209	9	the	the	DET
fbem-17288	209	10	scientific	scientific	ADJ
fbem-17288	209	11	and	and	CCONJ
fbem-17288	209	12	flexible	flexible	ADJ
fbem-17288	209	13	management	management	NOUN
fbem-17288	209	14	of	of	ADP
fbem-17288	209	15	external	external	ADJ
fbem-17288	209	16	debt	debt	NOUN
fbem-17288	209	17	,	,	PUNCT
fbem-17288	209	18	adapting	adapt	VERB
fbem-17288	209	19	to	to	ADP
fbem-17288	209	20	the	the	DET
fbem-17288	209	21	constantly	constantly	ADV
fbem-17288	209	22	changing	change	VERB
fbem-17288	209	23	international	international	ADJ
fbem-17288	209	24	financial	financial	ADJ
fbem-17288	209	25	environment	environment	NOUN
fbem-17288	209	26	.	.	PUNCT
fbem-17288	210	1	5.3	5.3	NUM
fbem-17288	210	2	optimize	optimize	NOUN
fbem-17288	210	3	trade	trade	NOUN
fbem-17288	210	4	structure	structure	NOUN
fbem-17288	210	5	the	the	DET
fbem-17288	210	6	government	government	NOUN
fbem-17288	210	7	can	can	AUX
fbem-17288	210	8	take	take	VERB
fbem-17288	210	9	a	a	DET
fbem-17288	210	10	series	series	NOUN
fbem-17288	210	11	of	of	ADP
fbem-17288	210	12	measures	measure	NOUN
fbem-17288	210	13	to	to	PART
fbem-17288	210	14	optimize	optimize	VERB
fbem-17288	210	15	the	the	DET
fbem-17288	210	16	trade	trade	NOUN
fbem-17288	210	17	structure	structure	NOUN
fbem-17288	210	18	,	,	PUNCT
fbem-17288	210	19	aiming	aim	VERB
fbem-17288	210	20	to	to	PART
fbem-17288	210	21	achieve	achieve	VERB
fbem-17288	210	22	a	a	DET
fbem-17288	210	23	more	more	ADV
fbem-17288	210	24	balanced	balanced	ADJ
fbem-17288	210	25	trade	trade	NOUN
fbem-17288	210	26	situation	situation	NOUN
fbem-17288	210	27	.	.	PUNCT
fbem-17288	211	1	here	here	ADV
fbem-17288	211	2	are	be	AUX
fbem-17288	211	3	some	some	DET
fbem-17288	211	4	suggestions	suggestion	NOUN
fbem-17288	211	5	:	:	PUNCT
fbem-17288	211	6	firstly	firstly	ADV
fbem-17288	211	7	,	,	PUNCT
fbem-17288	211	8	the	the	DET
fbem-17288	211	9	government	government	NOUN
fbem-17288	211	10	can	can	AUX
fbem-17288	211	11	diversify	diversify	VERB
fbem-17288	211	12	trade	trade	NOUN
fbem-17288	211	13	partners	partner	NOUN
fbem-17288	211	14	and	and	CCONJ
fbem-17288	211	15	explore	explore	VERB
fbem-17288	211	16	new	new	ADJ
fbem-17288	211	17	cooperation	cooperation	NOUN
fbem-17288	211	18	opportunities	opportunity	NOUN
fbem-17288	211	19	.	.	PUNCT
fbem-17288	212	1	overreliance	overreliance	NOUN
fbem-17288	212	2	on	on	ADP
fbem-17288	212	3	a	a	DET
fbem-17288	212	4	few	few	ADJ
fbem-17288	212	5	trading	trading	NOUN
fbem-17288	212	6	partners	partner	NOUN
fbem-17288	212	7	may	may	AUX
fbem-17288	212	8	expose	expose	VERB
fbem-17288	212	9	china	china	PROPN
fbem-17288	212	10	's	's	PART
fbem-17288	212	11	foreign	foreign	ADJ
fbem-17288	212	12	trade	trade	NOUN
fbem-17288	212	13	to	to	ADP
fbem-17288	212	14	instability	instability	NOUN
fbem-17288	212	15	.	.	PUNCT
fbem-17288	213	1	therefore	therefore	ADV
fbem-17288	213	2	,	,	PUNCT
fbem-17288	213	3	establishing	establish	VERB
fbem-17288	213	4	trade	trade	NOUN
fbem-17288	213	5	relationships	relationship	NOUN
fbem-17288	213	6	with	with	ADP
fbem-17288	213	7	more	more	ADJ
fbem-17288	213	8	countries	country	NOUN
fbem-17288	213	9	and	and	CCONJ
fbem-17288	213	10	regions	region	NOUN
fbem-17288	213	11	can	can	AUX
fbem-17288	213	12	reduce	reduce	VERB
fbem-17288	213	13	trade	trade	NOUN
fbem-17288	213	14	risks	risk	NOUN
fbem-17288	213	15	and	and	CCONJ
fbem-17288	213	16	promote	promote	VERB
fbem-17288	213	17	the	the	DET
fbem-17288	213	18	stable	stable	ADJ
fbem-17288	213	19	development	development	NOUN
fbem-17288	213	20	of	of	ADP
fbem-17288	213	21	trade	trade	NOUN
fbem-17288	213	22	.	.	PUNCT
fbem-17288	214	1	secondly	secondly	ADV
fbem-17288	214	2	,	,	PUNCT
fbem-17288	214	3	encouraging	encourage	VERB
fbem-17288	214	4	innovation	innovation	NOUN
fbem-17288	214	5	in	in	ADP
fbem-17288	214	6	technology	technology	NOUN
fbem-17288	214	7	and	and	CCONJ
fbem-17288	214	8	industry	industry	NOUN
fbem-17288	214	9	to	to	PART
fbem-17288	214	10	increase	increase	VERB
fbem-17288	214	11	the	the	DET
fbem-17288	214	12	added	add	VERB
fbem-17288	214	13	value	value	NOUN
fbem-17288	214	14	of	of	ADP
fbem-17288	214	15	exported	export	VERB
fbem-17288	214	16	products	product	NOUN
fbem-17288	214	17	is	be	AUX
fbem-17288	214	18	important	important	ADJ
fbem-17288	214	19	.	.	PUNCT
fbem-17288	215	1	by	by	ADP
fbem-17288	215	2	strengthening	strengthen	VERB
fbem-17288	215	3	technological	technological	ADJ
fbem-17288	215	4	innovation	innovation	NOUN
fbem-17288	215	5	and	and	CCONJ
fbem-17288	215	6	improving	improve	VERB
fbem-17288	215	7	product	product	NOUN
fbem-17288	215	8	quality	quality	NOUN
fbem-17288	215	9	,	,	PUNCT
fbem-17288	215	10	china	china	PROPN
fbem-17288	215	11	's	's	PART
fbem-17288	215	12	exported	export	VERB
fbem-17288	215	13	products	product	NOUN
fbem-17288	215	14	can	can	AUX
fbem-17288	215	15	better	well	ADV
fbem-17288	215	16	meet	meet	VERB
fbem-17288	215	17	international	international	ADJ
fbem-17288	215	18	market	market	NOUN
fbem-17288	215	19	demands	demand	NOUN
fbem-17288	215	20	,	,	PUNCT
fbem-17288	215	21	enhance	enhance	VERB
fbem-17288	215	22	international	international	ADJ
fbem-17288	215	23	market	market	NOUN
fbem-17288	215	24	share	share	NOUN
fbem-17288	215	25	,	,	PUNCT
fbem-17288	215	26	and	and	CCONJ
fbem-17288	215	27	achieve	achieve	VERB
fbem-17288	215	28	stable	stable	ADJ
fbem-17288	215	29	export	export	NOUN
fbem-17288	215	30	growth	growth	NOUN
fbem-17288	215	31	.	.	PUNCT
fbem-17288	216	1	additionally	additionally	ADV
fbem-17288	216	2	,	,	PUNCT
fbem-17288	216	3	the	the	DET
fbem-17288	216	4	government	government	NOUN
fbem-17288	216	5	can	can	AUX
fbem-17288	216	6	provide	provide	VERB
fbem-17288	216	7	policy	policy	NOUN
fbem-17288	216	8	support	support	NOUN
fbem-17288	216	9	for	for	ADP
fbem-17288	216	10	the	the	DET
fbem-17288	216	11	import	import	NOUN
fbem-17288	216	12	process	process	NOUN
fbem-17288	216	13	,	,	PUNCT
fbem-17288	216	14	such	such	ADJ
fbem-17288	216	15	as	as	ADP
fbem-17288	216	16	reducing	reduce	VERB
fbem-17288	216	17	import	import	NOUN
fbem-17288	216	18	tariffs	tariff	NOUN
fbem-17288	216	19	,	,	PUNCT
fbem-17288	216	20	simplifying	simplify	VERB
fbem-17288	216	21	import	import	NOUN
fbem-17288	216	22	procedures	procedure	NOUN
fbem-17288	216	23	,	,	PUNCT
fbem-17288	216	24	and	and	CCONJ
fbem-17288	216	25	encouraging	encourage	VERB
fbem-17288	216	26	enterprises	enterprise	NOUN
fbem-17288	216	27	to	to	PART
fbem-17288	216	28	introduce	introduce	VERB
fbem-17288	216	29	advanced	advanced	ADJ
fbem-17288	216	30	technology	technology	NOUN
fbem-17288	216	31	and	and	CCONJ
fbem-17288	216	32	equipment	equipment	NOUN
fbem-17288	216	33	.	.	PUNCT
fbem-17288	217	1	this	this	PRON
fbem-17288	217	2	helps	help	VERB
fbem-17288	217	3	raise	raise	VERB
fbem-17288	217	4	the	the	DET
fbem-17288	217	5	level	level	NOUN
fbem-17288	217	6	of	of	ADP
fbem-17288	217	7	domestic	domestic	ADJ
fbem-17288	217	8	industries	industry	NOUN
fbem-17288	217	9	and	and	CCONJ
fbem-17288	217	10	stimulates	stimulate	VERB
fbem-17288	217	11	an	an	DET
fbem-17288	217	12	increase	increase	NOUN
fbem-17288	217	13	in	in	ADP
fbem-17288	217	14	imports	import	NOUN
fbem-17288	217	15	,	,	PUNCT
fbem-17288	217	16	thereby	thereby	ADV
fbem-17288	217	17	maintaining	maintain	VERB
fbem-17288	217	18	a	a	DET
fbem-17288	217	19	relatively	relatively	ADV
fbem-17288	217	20	balanced	balanced	ADJ
fbem-17288	217	21	trade	trade	NOUN
fbem-17288	217	22	structure	structure	NOUN
fbem-17288	217	23	.	.	PUNCT
fbem-17288	218	1	moreover	moreover	ADV
fbem-17288	218	2	,	,	PUNCT
fbem-17288	218	3	active	active	ADJ
fbem-17288	218	4	participation	participation	NOUN
fbem-17288	218	5	in	in	ADP
fbem-17288	218	6	the	the	DET
fbem-17288	218	7	formulation	formulation	NOUN
fbem-17288	218	8	and	and	CCONJ
fbem-17288	218	9	reform	reform	NOUN
fbem-17288	218	10	of	of	ADP
fbem-17288	218	11	international	international	ADJ
fbem-17288	218	12	trade	trade	NOUN
fbem-17288	218	13	rules	rule	NOUN
fbem-17288	218	14	,	,	PUNCT
fbem-17288	218	15	advocating	advocate	VERB
fbem-17288	218	16	for	for	ADP
fbem-17288	218	17	more	more	ADJ
fbem-17288	218	18	trade	trade	NOUN
fbem-17288	218	19	facilitation	facilitation	NOUN
fbem-17288	218	20	policies	policy	NOUN
fbem-17288	218	21	,	,	PUNCT
fbem-17288	218	22	and	and	CCONJ
fbem-17288	218	23	enhancing	enhance	VERB
fbem-17288	218	24	china	china	PROPN
fbem-17288	218	25	's	's	PART
fbem-17288	218	26	voice	voice	NOUN
fbem-17288	218	27	in	in	ADP
fbem-17288	218	28	global	global	ADJ
fbem-17288	218	29	trade	trade	NOUN
fbem-17288	218	30	contribute	contribute	VERB
fbem-17288	218	31	to	to	ADP
fbem-17288	218	32	creating	create	VERB
fbem-17288	218	33	a	a	DET
fbem-17288	218	34	more	more	ADV
fbem-17288	218	35	favorable	favorable	ADJ
fbem-17288	218	36	trade	trade	NOUN
fbem-17288	218	37	environment	environment	NOUN
fbem-17288	218	38	.	.	PUNCT
fbem-17288	219	1	in	in	ADP
fbem-17288	219	2	general	general	ADJ
fbem-17288	219	3	,	,	PUNCT
fbem-17288	219	4	the	the	DET
fbem-17288	219	5	management	management	NOUN
fbem-17288	219	6	of	of	ADP
fbem-17288	219	7	foreign	foreign	ADJ
fbem-17288	219	8	exchange	exchange	NOUN
fbem-17288	219	9	reserves	reserve	NOUN
fbem-17288	219	10	should	should	AUX
fbem-17288	219	11	be	be	AUX
fbem-17288	219	12	standardized	standardize	VERB
fbem-17288	219	13	and	and	CCONJ
fbem-17288	219	14	normalized	normalize	VERB
fbem-17288	219	15	,	,	PUNCT
fbem-17288	219	16	adjusting	adjust	VERB
fbem-17288	219	17	various	various	ADJ
fbem-17288	219	18	factors	factor	NOUN
fbem-17288	219	19	influencing	influence	VERB
fbem-17288	219	20	foreign	foreign	ADJ
fbem-17288	219	21	exchange	exchange	NOUN
fbem-17288	219	22	reserves	reserve	NOUN
fbem-17288	219	23	based	base	VERB
fbem-17288	219	24	on	on	ADP
fbem-17288	219	25	different	different	ADJ
fbem-17288	219	26	circumstances	circumstance	NOUN
fbem-17288	219	27	.	.	PUNCT
fbem-17288	220	1	when	when	SCONJ
fbem-17288	220	2	foreign	foreign	ADJ
fbem-17288	220	3	exchange	exchange	NOUN
fbem-17288	220	4	reserves	reserve	NOUN
fbem-17288	220	5	are	be	AUX
fbem-17288	220	6	excessive	excessive	ADJ
fbem-17288	220	7	or	or	CCONJ
fbem-17288	220	8	insufficient	insufficient	ADJ
fbem-17288	220	9	,	,	PUNCT
fbem-17288	220	10	modifying	modify	VERB
fbem-17288	220	11	the	the	DET
fbem-17288	220	12	relevant	relevant	ADJ
fbem-17288	220	13	factors	factor	NOUN
fbem-17288	220	14	affecting	affect	VERB
fbem-17288	220	15	foreign	foreign	ADJ
fbem-17288	220	16	exchange	exchange	NOUN
fbem-17288	220	17	reserves	reserve	NOUN
fbem-17288	220	18	can	can	AUX
fbem-17288	220	19	lead	lead	VERB
fbem-17288	220	20	to	to	ADP
fbem-17288	220	21	a	a	DET
fbem-17288	220	22	decrease	decrease	NOUN
fbem-17288	220	23	or	or	CCONJ
fbem-17288	220	24	increase	increase	VERB
fbem-17288	220	25	in	in	ADP
fbem-17288	220	26	reserves	reserve	NOUN
fbem-17288	220	27	.	.	PUNCT
fbem-17288	221	1	this	this	PRON
fbem-17288	221	2	facilitates	facilitate	VERB
fbem-17288	221	3	dynamic	dynamic	ADJ
fbem-17288	221	4	management	management	NOUN
fbem-17288	221	5	of	of	ADP
fbem-17288	221	6	foreign	foreign	ADJ
fbem-17288	221	7	exchange	exchange	NOUN
fbem-17288	221	8	reserves	reserve	NOUN
fbem-17288	221	9	,	,	PUNCT
fbem-17288	221	10	maintaining	maintain	VERB
fbem-17288	221	11	an	an	DET
fbem-17288	221	12	appropriate	appropriate	ADJ
fbem-17288	221	13	scale	scale	NOUN
fbem-17288	221	14	of	of	ADP
fbem-17288	221	15	reserves	reserve	NOUN
fbem-17288	221	16	.	.	PUNCT
fbem-17288	222	1	references	reference	NOUN
fbem-17288	222	2	[	[	X
fbem-17288	222	3	1	1	X
fbem-17288	222	4	]	]	X
fbem-17288	222	5	liu	liu	PROPN
fbem-17288	222	6	yixin	yixin	PROPN
fbem-17288	222	7	,	,	PUNCT
fbem-17288	222	8	ma	ma	PROPN
fbem-17288	222	9	shaokang	shaokang	PROPN
fbem-17288	222	10	.	.	PUNCT
fbem-17288	223	1	a	a	DET
fbem-17288	223	2	study	study	NOUN
fbem-17288	223	3	on	on	ADP
fbem-17288	223	4	the	the	DET
fbem-17288	223	5	appropriate	appropriate	ADJ
fbem-17288	223	6	scale	scale	NOUN
fbem-17288	223	7	of	of	ADP
fbem-17288	223	8	china	china	PROPN
fbem-17288	223	9	's	's	PART
fbem-17288	223	10	foreign	foreign	ADJ
fbem-17288	223	11	exchange	exchange	NOUN
fbem-17288	223	12	reserves	reserve	NOUN
fbem-17288	224	1	[	[	X
fbem-17288	224	2	j	j	X
fbem-17288	224	3	]	]	X
fbem-17288	224	4	.	.	PUNCT
fbem-17288	225	1	contemporary	contemporary	ADJ
fbem-17288	225	2	economic	economic	ADJ
fbem-17288	225	3	research	research	NOUN
fbem-17288	225	4	,	,	PUNCT
fbem-17288	225	5	2019(04):88	2019(04):88	NUM
fbem-17288	225	6	-	-	SYM
fbem-17288	225	7	94	94	NUM
fbem-17288	225	8	.	.	PUNCT
fbem-17288	226	1	[	[	X
fbem-17288	226	2	2	2	NUM
fbem-17288	226	3	]	]	X
fbem-17288	226	4	ma	ma	PROPN
fbem-17288	226	5	shaokang	shaokang	PROPN
fbem-17288	226	6	,	,	PUNCT
fbem-17288	226	7	liu	liu	PROPN
fbem-17288	226	8	yixin	yixin	PROPN
fbem-17288	226	9	,	,	PUNCT
fbem-17288	226	10	hu	hu	PROPN
fbem-17288	226	11	yuemin	yuemin	PROPN
fbem-17288	226	12	.	.	PUNCT
fbem-17288	227	1	research	research	NOUN
fbem-17288	227	2	on	on	ADP
fbem-17288	227	3	the	the	DET
fbem-17288	227	4	dynamic	dynamic	ADJ
fbem-17288	227	5	control	control	NOUN
fbem-17288	227	6	model	model	NOUN
fbem-17288	227	7	of	of	ADP
fbem-17288	227	8	the	the	DET
fbem-17288	227	9	appropriate	appropriate	ADJ
fbem-17288	227	10	scale	scale	NOUN
fbem-17288	227	11	of	of	ADP
fbem-17288	227	12	china	china	PROPN
fbem-17288	227	13	's	's	PART
fbem-17288	227	14	foreign	foreign	ADJ
fbem-17288	227	15	exchange	exchange	NOUN
fbem-17288	227	16	reserves	reserve	NOUN
fbem-17288	228	1	[	[	X
fbem-17288	228	2	j	j	X
fbem-17288	228	3	]	]	X
fbem-17288	228	4	.	.	PUNCT
fbem-17288	229	1	fujian	fujian	PROPN
fbem-17288	229	2	forum	forum	PROPN
fbem-17288	229	3	(	(	PUNCT
fbem-17288	229	4	humanities	humanity	NOUN
fbem-17288	229	5	and	and	CCONJ
fbem-17288	229	6	social	social	ADJ
fbem-17288	229	7	sciences	sciences	PROPN
fbem-17288	229	8	edition	edition	NOUN
fbem-17288	229	9	)	)	PUNCT
fbem-17288	229	10	,	,	PUNCT
fbem-17288	229	11	2018(04):19	2018(04):19	NUM
fbem-17288	229	12	-	-	SYM
fbem-17288	229	13	27	27	NUM
fbem-17288	229	14	.	.	PUNCT
fbem-17288	230	1	[	[	X
fbem-17288	230	2	3	3	X
fbem-17288	230	3	]	]	X
fbem-17288	230	4	liu	liu	PROPN
fbem-17288	230	5	xinqi	xinqi	PROPN
fbem-17288	230	6	.	.	PUNCT
fbem-17288	231	1	the	the	DET
fbem-17288	231	2	transformation	transformation	NOUN
fbem-17288	231	3	of	of	ADP
fbem-17288	231	4	the	the	DET
fbem-17288	231	5	functions	function	NOUN
fbem-17288	231	6	of	of	ADP
fbem-17288	231	7	foreign	foreign	ADJ
fbem-17288	231	8	exchange	exchange	NOUN
fbem-17288	231	9	reserves	reserve	NOUN
fbem-17288	231	10	in	in	ADP
fbem-17288	231	11	the	the	DET
fbem-17288	231	12	process	process	NOUN
fbem-17288	231	13	of	of	ADP
fbem-17288	231	14	rmb	rmb	NOUN
fbem-17288	231	15	internationalization	internationalization	NOUN
fbem-17288	231	16	—	—	PUNCT
fbem-17288	231	17	a	a	DET
fbem-17288	231	18	discussion	discussion	NOUN
fbem-17288	231	19	on	on	ADP
fbem-17288	231	20	the	the	DET
fbem-17288	231	21	calculation	calculation	NOUN
fbem-17288	231	22	and	and	CCONJ
fbem-17288	231	23	management	management	NOUN
fbem-17288	231	24	of	of	ADP
fbem-17288	231	25	the	the	DET
fbem-17288	231	26	appropriate	appropriate	ADJ
fbem-17288	231	27	scale	scale	NOUN
fbem-17288	231	28	of	of	ADP
fbem-17288	231	29	china	china	PROPN
fbem-17288	231	30	's	's	PART
fbem-17288	231	31	foreign	foreign	ADJ
fbem-17288	231	32	exchange	exchange	NOUN
fbem-17288	231	33	reserves	reserve	NOUN
fbem-17288	232	1	[	[	X
fbem-17288	232	2	j	j	X
fbem-17288	232	3	]	]	X
fbem-17288	232	4	.	.	PUNCT
fbem-17288	233	1	hainan	hainan	PROPN
fbem-17288	233	2	finance	finance	PROPN
fbem-17288	233	3	,	,	PUNCT
fbem-17288	233	4	2018(03):20	2018(03):20	NUM
fbem-17288	233	5	-	-	SYM
fbem-17288	233	6	31	31	NUM
fbem-17288	233	7	.	.	PUNCT
fbem-17288	234	1	[	[	X
fbem-17288	234	2	4	4	X
fbem-17288	234	3	]	]	PUNCT
fbem-17288	234	4	song	song	NOUN
fbem-17288	234	5	ke	ke	PROPN
fbem-17288	234	6	,	,	PUNCT
fbem-17288	234	7	yang	yang	PROPN
fbem-17288	234	8	yaxin	yaxin	PROPN
fbem-17288	234	9	.	.	PUNCT
fbem-17288	234	10	are	be	AUX
fbem-17288	234	11	china	china	PROPN
fbem-17288	234	12	's	's	PART
fbem-17288	234	13	foreign	foreign	ADJ
fbem-17288	234	14	exchange	exchange	NOUN
fbem-17288	234	15	reserves	reserve	NOUN
fbem-17288	234	16	adequate	adequate	ADJ
fbem-17288	234	17	?	?	PUNCT
fbem-17288	235	1	[	[	X
fbem-17288	235	2	j	j	X
fbem-17288	235	3	]	]	X
fbem-17288	235	4	.	.	PUNCT
fbem-17288	236	1	international	international	ADJ
fbem-17288	236	2	finance	finance	NOUN
fbem-17288	236	3	,	,	PUNCT
fbem-17288	236	4	2017(12):53	2017(12):53	NUM
fbem-17288	236	5	-	-	SYM
fbem-17288	236	6	58	58	NUM
fbem-17288	236	7	.	.	PUNCT
fbem-17288	237	1	doi	doi	NOUN
fbem-17288	237	2	:	:	PUNCT
fbem-17288	237	3	10.16474	10.16474	NUM
fbem-17288	237	4	/	/	SYM
fbem-17288	237	5	j.cnki.1673	j.cnki.1673	NOUN
fbem-17288	237	6	-	-	PUNCT
fbem-17288	237	7	8489.2017.12.007	8489.2017.12.007	PROPN
fbem-17288	237	8	.	.	PUNCT
fbem-17288	238	1	[	[	X
fbem-17288	238	2	5	5	NUM
fbem-17288	238	3	]	]	SYM
fbem-17288	238	4	li	li	PROPN
fbem-17288	238	5	jingyi	jingyi	PROPN
fbem-17288	238	6	.	.	PUNCT
fbem-17288	239	1	an	an	DET
fbem-17288	239	2	analysis	analysis	NOUN
fbem-17288	239	3	of	of	ADP
fbem-17288	239	4	the	the	DET
fbem-17288	239	5	appropriate	appropriate	ADJ
fbem-17288	239	6	scale	scale	NOUN
fbem-17288	239	7	of	of	ADP
fbem-17288	239	8	china	china	PROPN
fbem-17288	239	9	's	's	PART
fbem-17288	239	10	foreign	foreign	ADJ
fbem-17288	239	11	exchange	exchange	NOUN
fbem-17288	239	12	reserves	reserve	NOUN
fbem-17288	239	13	from	from	ADP
fbem-17288	239	14	1994	1994	NUM
fbem-17288	239	15	to	to	ADP
fbem-17288	239	16	2015	2015	NUM
fbem-17288	239	17	[	[	X
fbem-17288	239	18	j	j	X
fbem-17288	239	19	]	]	X
fbem-17288	239	20	.	.	PUNCT
fbem-17288	240	1	development	development	NOUN
fbem-17288	240	2	research	research	PROPN
fbem-17288	240	3	,	,	PUNCT
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fbem-17288	240	5	-	-	SYM
fbem-17288	240	6	57	57	NUM
fbem-17288	240	7	.	.	PUNCT
fbem-17288	241	1	[	[	X
fbem-17288	241	2	6	6	NUM
fbem-17288	241	3	]	]	PUNCT
fbem-17288	241	4	zhai	zhai	PROPN
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fbem-17288	241	6	.	.	PUNCT
fbem-17288	242	1	research	research	NOUN
fbem-17288	242	2	on	on	ADP
fbem-17288	242	3	the	the	DET
fbem-17288	242	4	appropriate	appropriate	ADJ
fbem-17288	242	5	scale	scale	NOUN
fbem-17288	242	6	of	of	ADP
fbem-17288	242	7	foreign	foreign	ADJ
fbem-17288	242	8	exchange	exchange	NOUN
fbem-17288	242	9	reserves	reserve	NOUN
fbem-17288	242	10	in	in	ADP
fbem-17288	242	11	the	the	DET
fbem-17288	242	12	process	process	NOUN
fbem-17288	242	13	of	of	ADP
fbem-17288	242	14	rmb	rmb	NOUN
fbem-17288	242	15	internationalization	internationalization	NOUN
fbem-17288	243	1	[	[	X
fbem-17288	243	2	j	j	X
fbem-17288	243	3	]	]	X
fbem-17288	243	4	.	.	PUNCT
fbem-17288	244	1	economic	economic	ADJ
fbem-17288	244	2	and	and	CCONJ
fbem-17288	244	3	trade	trade	NOUN
fbem-17288	244	4	practice	practice	NOUN
fbem-17288	244	5	,	,	PUNCT
fbem-17288	244	6	2016(08):100	2016(08):100	X
fbem-17288	244	7	.	.	NOUN
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fbem-17288	245	1	[	[	X
fbem-17288	245	2	7	7	X
fbem-17288	245	3	]	]	X
fbem-17288	245	4	zhang	zhang	PROPN
fbem-17288	245	5	yu	yu	PROPN
fbem-17288	245	6	.	.	PUNCT
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fbem-17288	245	8	analysis	analysis	NOUN
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fbem-17288	245	10	the	the	DET
fbem-17288	245	11	appropriate	appropriate	ADJ
fbem-17288	245	12	scale	scale	NOUN
fbem-17288	245	13	of	of	ADP
fbem-17288	245	14	china	china	PROPN
fbem-17288	245	15	's	's	PART
fbem-17288	245	16	foreign	foreign	ADJ
fbem-17288	245	17	exchange	exchange	NOUN
fbem-17288	245	18	reserves	reserve	NOUN
fbem-17288	246	1	[	[	X
fbem-17288	246	2	j	j	X
fbem-17288	246	3	]	]	X
fbem-17288	246	4	.	.	PUNCT
fbem-17288	247	1	foreign	foreign	ADJ
fbem-17288	247	2	trade	trade	NOUN
fbem-17288	247	3	,	,	PUNCT
fbem-17288	247	4	2014	2014	NUM
fbem-17288	247	5	(	(	PUNCT
fbem-17288	247	6	12):117	12):117	NUM
fbem-17288	247	7	-	-	SYM
fbem-17288	247	8	119	119	NUM
fbem-17288	247	9	.	.	PUNCT
fbem-17288	248	1	[	[	X
fbem-17288	248	2	8	8	NUM
fbem-17288	248	3	]	]	X
fbem-17288	248	4	zhang	zhang	PROPN
fbem-17288	248	5	xinyi	xinyi	PROPN
fbem-17288	248	6	.	.	PUNCT
fbem-17288	249	1	research	research	NOUN
fbem-17288	249	2	on	on	ADP
fbem-17288	249	3	the	the	DET
fbem-17288	249	4	measurement	measurement	NOUN
fbem-17288	249	5	method	method	NOUN
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fbem-17288	249	7	the	the	DET
fbem-17288	249	8	appropriate	appropriate	ADJ
fbem-17288	249	9	scale	scale	NOUN
fbem-17288	249	10	of	of	ADP
fbem-17288	249	11	foreign	foreign	ADJ
fbem-17288	249	12	exchange	exchange	NOUN
fbem-17288	249	13	reserves	reserve	NOUN
fbem-17288	250	1	[	[	X
fbem-17288	250	2	j	j	X
fbem-17288	250	3	]	]	X
fbem-17288	250	4	.	.	PUNCT
fbem-17288	251	1	china	china	PROPN
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fbem-17288	251	3	,	,	PUNCT
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fbem-17288	251	5	-	-	SYM
fbem-17288	251	6	35	35	NUM
fbem-17288	251	7	.	.	PUNCT
fbem-17288	252	1	[	[	X
fbem-17288	252	2	9	9	NUM
fbem-17288	252	3	]	]	X
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fbem-17288	252	5	xiaotong	xiaotong	PROPN
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fbem-17288	252	9	.	.	PUNCT
fbem-17288	252	10	research	research	NOUN
fbem-17288	252	11	on	on	ADP
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fbem-17288	252	13	appropriate	appropriate	ADJ
fbem-17288	252	14	scale	scale	NOUN
fbem-17288	252	15	of	of	ADP
fbem-17288	252	16	foreign	foreign	ADJ
fbem-17288	252	17	exchange	exchange	NOUN
fbem-17288	252	18	reserves	reserve	NOUN
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fbem-17288	252	20	on	on	ADP
fbem-17288	252	21	demand	demand	NOUN
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fbem-17288	253	1	[	[	X
fbem-17288	253	2	j	j	X
fbem-17288	253	3	]	]	X
fbem-17288	253	4	.	.	PUNCT
fbem-17288	254	1	china	china	PROPN
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fbem-17288	254	5	-	-	SYM
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fbem-17288	254	7	+	+	NOUN
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fbem-17288	255	1	[	[	X
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fbem-17288	255	3	]	]	PUNCT
fbem-17288	255	4	xu	xu	PROPN
fbem-17288	255	5	zhaohui	zhaohui	PROPN
fbem-17288	255	6	,	,	PUNCT
fbem-17288	255	7	zhong	zhong	PROPN
fbem-17288	255	8	hongtao	hongtao	PROPN
fbem-17288	255	9	.	.	PUNCT
fbem-17288	256	1	dynamic	dynamic	ADJ
fbem-17288	256	2	path	path	NOUN
fbem-17288	256	3	analysis	analysis	NOUN
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fbem-17288	256	5	the	the	DET
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fbem-17288	257	1	[	[	X
fbem-17288	257	2	j	j	X
fbem-17288	257	3	]	]	X
fbem-17288	257	4	.	.	PUNCT
fbem-17288	258	1	southeast	southeast	ADJ
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fbem-17288	258	3	,	,	PUNCT
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fbem-17288	258	5	-	-	SYM
fbem-17288	258	6	160	160	NUM
fbem-17288	258	7	.	.	PUNCT
fbem-17288	259	1	doi	doi	NOUN
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fbem-17288	259	4	/	/	SYM
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fbem-17288	259	6	.	.	PUNCT
fbem-17288	260	1	[	[	X
fbem-17288	260	2	11	11	NUM
fbem-17288	260	3	]	]	X
fbem-17288	260	4	li	li	PROPN
fbem-17288	260	5	jinsong	jinsong	PROPN
fbem-17288	260	6	.	.	PUNCT
fbem-17288	261	1	research	research	NOUN
fbem-17288	261	2	on	on	ADP
fbem-17288	261	3	the	the	DET
fbem-17288	261	4	appropriate	appropriate	ADJ
fbem-17288	261	5	scale	scale	NOUN
fbem-17288	261	6	and	and	CCONJ
fbem-17288	261	7	structural	structural	ADJ
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fbem-17288	262	1	[	[	X
fbem-17288	262	2	d	d	X
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fbem-17288	262	4	.	.	PUNCT
fbem-17288	263	1	yunnan	yunnan	PROPN
fbem-17288	263	2	university	university	PROPN
fbem-17288	263	3	,	,	PUNCT
fbem-17288	263	4	2013	2013	NUM
fbem-17288	263	5	.	.	PUNCT
fbem-17288	264	1	[	[	X
fbem-17288	264	2	12	12	NUM
fbem-17288	264	3	]	]	X
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fbem-17288	264	9	.	.	PUNCT
fbem-17288	265	1	analysis	analysis	NOUN
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fbem-17288	265	4	on	on	ADP
fbem-17288	265	5	the	the	DET
fbem-17288	265	6	appropriate	appropriate	ADJ
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fbem-17288	265	9	china	china	PROPN
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fbem-17288	266	1	[	[	X
fbem-17288	266	2	j	j	X
fbem-17288	266	3	]	]	X
fbem-17288	266	4	.	.	PUNCT
fbem-17288	267	1	zhejiang	zhejiang	PROPN
fbem-17288	267	2	finance	finance	PROPN
fbem-17288	267	3	,	,	PUNCT
fbem-17288	267	4	2013(04):31	2013(04):31	NUM
fbem-17288	267	5	-	-	SYM
fbem-17288	267	6	33	33	NUM
fbem-17288	267	7	+	+	NOUN
fbem-17288	267	8	37	37	NUM
fbem-17288	267	9	.	.	PUNCT
fbem-17288	268	1	[	[	X
fbem-17288	268	2	13	13	NUM
fbem-17288	268	3	]	]	X
fbem-17288	268	4	zhang	zhang	PROPN
fbem-17288	268	5	pingying	pingying	NOUN
fbem-17288	268	6	.	.	PUNCT
fbem-17288	269	1	analysis	analysis	NOUN
fbem-17288	269	2	of	of	ADP
fbem-17288	269	3	the	the	DET
fbem-17288	269	4	measurement	measurement	NOUN
fbem-17288	269	5	methods	method	NOUN
fbem-17288	269	6	and	and	CCONJ
fbem-17288	269	7	management	management	NOUN
fbem-17288	269	8	principles	principle	NOUN
fbem-17288	269	9	of	of	ADP
fbem-17288	269	10	the	the	DET
fbem-17288	269	11	appropriate	appropriate	ADJ
fbem-17288	269	12	scale	scale	NOUN
fbem-17288	269	13	of	of	ADP
fbem-17288	269	14	china	china	PROPN
fbem-17288	269	15	's	's	PART
fbem-17288	269	16	foreign	foreign	ADJ
fbem-17288	269	17	exchange	exchange	NOUN
fbem-17288	269	18	reserves	reserve	NOUN
fbem-17288	270	1	[	[	X
fbem-17288	270	2	j	j	X
fbem-17288	270	3	]	]	X
fbem-17288	270	4	.	.	PUNCT
fbem-17288	271	1	foreign	foreign	ADJ
fbem-17288	271	2	trade	trade	NOUN
fbem-17288	271	3	and	and	CCONJ
fbem-17288	271	4	economic	economic	ADJ
fbem-17288	271	5	cooperation	cooperation	NOUN
fbem-17288	271	6	,	,	PUNCT
fbem-17288	271	7	2013(03):30	2013(03):30	NUM
fbem-17288	271	8	-	-	SYM
fbem-17288	271	9	31	31	NUM
fbem-17288	271	10	.	.	PUNCT
fbem-17288	272	1	[	[	X
fbem-17288	272	2	14	14	NUM
fbem-17288	272	3	]	]	X
fbem-17288	272	4	jeanne	jeanne	PROPN
fbem-17288	272	5	et	et	PROPN
fbem-17288	272	6	al	al	PROPN
fbem-17288	272	7	.	.	PUNCT
fbem-17288	273	1	the	the	DET
fbem-17288	273	2	optimal	optimal	ADJ
fbem-17288	273	3	level	level	NOUN
fbem-17288	273	4	of	of	ADP
fbem-17288	273	5	international	international	ADJ
fbem-17288	273	6	reserves	reserve	NOUN
fbem-17288	273	7	for	for	ADP
fbem-17288	273	8	emerging	emerge	VERB
fbem-17288	273	9	market	market	NOUN
fbem-17288	273	10	countries	country	NOUN
fbem-17288	273	11	:	:	PUNCT
fbem-17288	273	12	a	a	DET
fbem-17288	273	13	new	new	ADJ
fbem-17288	273	14	formula	formula	NOUN
fbem-17288	273	15	and	and	CCONJ
fbem-17288	273	16	some	some	DET
fbem-17288	273	17	applications	application	NOUN
fbem-17288	273	18	,	,	PUNCT
fbem-17288	273	19	the	the	DET
fbem-17288	273	20	economic	economic	ADJ
fbem-17288	273	21	journal	journal	NOUN
fbem-17288	273	22	,	,	PUNCT
fbem-17288	273	23	2011	2011	NUM
fbem-17288	273	24	:	:	PUNCT
fbem-17288	273	25	9	9	NUM
fbem-17288	273	26	,	,	PUNCT
fbem-17288	273	27	pp	pp	ADJ
fbem-17288	273	28	.	.	PUNCT
fbem-17288	274	1	905－930	905－930	X
fbem-17288	274	2	.	.	PUNCT
fbem-17288	275	1	[	[	X
fbem-17288	275	2	15	15	NUM
fbem-17288	275	3	]	]	PUNCT
fbem-17288	275	4	elbadawi	elbadawi	PROPN
fbem-17288	275	5	,	,	PUNCT
fbem-17288	275	6	i.a	i.a	PROPN
fbem-17288	275	7	.	.	PROPN
fbem-17288	276	1	the	the	DET
fbem-17288	276	2	sudan	sudan	PROPN
fbem-17288	276	3	demand	demand	NOUN
fbem-17288	276	4	for	for	ADP
fbem-17288	276	5	international	international	ADJ
fbem-17288	276	6	reserve	reserve	PROPN
fbem-17288	276	7	:	:	PUNCT
fbem-17288	276	8	a	a	DET
fbem-17288	276	9	case	case	NOUN
fbem-17288	276	10	of	of	ADP
fbem-17288	276	11	a	a	DET
fbem-17288	276	12	labor	labor	NOUN
fbem-17288	276	13	-exporting	-exporte	VERB
fbem-17288	276	14	country	country	NOUN
fbem-17288	276	15	[	[	X
fbem-17288	276	16	j].economica,1990(57	j].economica,1990(57	X
fbem-17288	276	17	)	)	PUNCT
fbem-17288	276	18	.	.	PUNCT