id	sid	tid	token	lemma	pos
fbem-30759	1	1	frontiers	frontier	NOUN
fbem-30759	1	2	in	in	ADP
fbem-30759	1	3	business	business	NOUN
fbem-30759	1	4	,	,	PUNCT
fbem-30759	1	5	economics	economic	NOUN
fbem-30759	1	6	and	and	CCONJ
fbem-30759	1	7	management	management	NOUN
fbem-30759	1	8	issn	issn	PROPN
fbem-30759	1	9	:	:	PUNCT
fbem-30759	1	10	2766	2766	NUM
fbem-30759	1	11	-	-	PUNCT
fbem-30759	1	12	824x	824x	NUM
fbem-30759	1	13	|	|	ADJ
fbem-30759	1	14	vol	vol	NOUN
fbem-30759	1	15	.	.	PROPN
fbem-30759	2	1	19	19	NUM
fbem-30759	2	2	,	,	PUNCT
fbem-30759	2	3	no	no	INTJ
fbem-30759	2	4	.	.	NOUN
fbem-30759	2	5	2	2	NUM
fbem-30759	2	6	,	,	PUNCT
fbem-30759	2	7	2025	2025	NUM
fbem-30759	2	8	82	82	NUM
fbem-30759	3	1	the	the	DET
fbem-30759	3	2	analysis	analysis	NOUN
fbem-30759	3	3	of	of	ADP
fbem-30759	3	4	exchange	exchange	NOUN
fbem-30759	3	5	rate	rate	NOUN
fbem-30759	3	6	fluctuations	fluctuation	NOUN
fbem-30759	3	7	in	in	ADP
fbem-30759	3	8	china	china	PROPN
fbem-30759	3	9	's	's	PART
fbem-30759	3	10	economic	economic	ADJ
fbem-30759	3	11	fluctuations	fluctuation	NOUN
fbem-30759	3	12	huimin	huimin	VERB
fbem-30759	3	13	he	he	PRON
fbem-30759	3	14	*	*	PUNCT
fbem-30759	3	15	,	,	PUNCT
fbem-30759	3	16	qin	qin	INTJ
fbem-30759	4	1	he	he	PRON
fbem-30759	4	2	school	school	NOUN
fbem-30759	4	3	of	of	ADP
fbem-30759	4	4	economics	economic	NOUN
fbem-30759	4	5	and	and	CCONJ
fbem-30759	4	6	management	management	NOUN
fbem-30759	4	7	,	,	PUNCT
fbem-30759	4	8	southwest	southwest	ADJ
fbem-30759	4	9	petroleum	petroleum	PROPN
fbem-30759	4	10	university	university	PROPN
fbem-30759	4	11	,	,	PUNCT
fbem-30759	4	12	chengdu	chengdu	PROPN
fbem-30759	4	13	610500	610500	NUM
fbem-30759	4	14	,	,	PUNCT
fbem-30759	4	15	china	china	PROPN
fbem-30759	4	16	*	*	PUNCT
fbem-30759	4	17	corresponding	correspond	VERB
fbem-30759	4	18	author	author	NOUN
fbem-30759	4	19	:	:	PUNCT
fbem-30759	4	20	2415931868@qq.com	2415931868@qq.com	NUM
fbem-30759	4	21	abstract	abstract	NOUN
fbem-30759	4	22	:	:	PUNCT
fbem-30759	4	23	this	this	DET
fbem-30759	4	24	study	study	NOUN
fbem-30759	4	25	focuses	focus	VERB
fbem-30759	4	26	on	on	ADP
fbem-30759	4	27	the	the	DET
fbem-30759	4	28	influenced	influence	VERB
fbem-30759	4	29	factors	factor	NOUN
fbem-30759	4	30	of	of	ADP
fbem-30759	4	31	exchange	exchange	NOUN
fbem-30759	4	32	rate	rate	NOUN
fbem-30759	4	33	fluctuations	fluctuation	NOUN
fbem-30759	4	34	in	in	ADP
fbem-30759	4	35	china	china	PROPN
fbem-30759	4	36	's	's	PART
fbem-30759	4	37	economic	economic	ADJ
fbem-30759	4	38	fluctuations	fluctuation	NOUN
fbem-30759	4	39	.	.	PUNCT
fbem-30759	5	1	currently	currently	ADV
fbem-30759	5	2	,	,	PUNCT
fbem-30759	5	3	the	the	DET
fbem-30759	5	4	impact	impact	NOUN
fbem-30759	5	5	factors	factor	NOUN
fbem-30759	5	6	of	of	ADP
fbem-30759	5	7	exchange	exchange	NOUN
fbem-30759	5	8	rate	rate	NOUN
fbem-30759	5	9	fluctuations	fluctuation	NOUN
fbem-30759	5	10	within	within	ADP
fbem-30759	5	11	the	the	DET
fbem-30759	5	12	economic	economic	ADJ
fbem-30759	5	13	system	system	NOUN
fbem-30759	5	14	is	be	AUX
fbem-30759	5	15	becoming	become	VERB
fbem-30759	5	16	increasingly	increasingly	ADV
fbem-30759	5	17	significant	significant	ADJ
fbem-30759	5	18	.	.	PUNCT
fbem-30759	6	1	the	the	DET
fbem-30759	6	2	aim	aim	NOUN
fbem-30759	6	3	of	of	ADP
fbem-30759	6	4	this	this	DET
fbem-30759	6	5	paper	paper	NOUN
fbem-30759	6	6	is	be	AUX
fbem-30759	6	7	to	to	PART
fbem-30759	6	8	explore	explore	VERB
fbem-30759	6	9	the	the	DET
fbem-30759	6	10	factors	factor	NOUN
fbem-30759	6	11	influencing	influence	VERB
fbem-30759	6	12	exchange	exchange	NOUN
fbem-30759	6	13	rate	rate	NOUN
fbem-30759	6	14	fluctuations	fluctuation	NOUN
fbem-30759	6	15	in	in	ADP
fbem-30759	6	16	the	the	DET
fbem-30759	6	17	process	process	NOUN
fbem-30759	6	18	of	of	ADP
fbem-30759	6	19	china	china	PROPN
fbem-30759	6	20	's	's	PART
fbem-30759	6	21	economic	economic	ADJ
fbem-30759	6	22	fluctuations	fluctuation	NOUN
fbem-30759	6	23	,	,	PUNCT
fbem-30759	6	24	and	and	CCONJ
fbem-30759	6	25	to	to	PART
fbem-30759	6	26	solve	solve	VERB
fbem-30759	6	27	the	the	DET
fbem-30759	6	28	specific	specific	ADJ
fbem-30759	6	29	impact	impact	NOUN
fbem-30759	6	30	mechanism	mechanism	NOUN
fbem-30759	6	31	and	and	CCONJ
fbem-30759	6	32	degree	degree	NOUN
fbem-30759	6	33	of	of	ADP
fbem-30759	6	34	china	china	PROPN
fbem-30759	6	35	's	's	PART
fbem-30759	6	36	economic	economic	ADJ
fbem-30759	6	37	fluctuations	fluctuation	NOUN
fbem-30759	6	38	on	on	ADP
fbem-30759	6	39	exchange	exchange	NOUN
fbem-30759	6	40	rate	rate	NOUN
fbem-30759	6	41	fluctuations	fluctuation	NOUN
fbem-30759	6	42	.	.	PUNCT
fbem-30759	7	1	by	by	ADP
fbem-30759	7	2	constructing	construct	VERB
fbem-30759	7	3	a	a	DET
fbem-30759	7	4	dynamic	dynamic	ADJ
fbem-30759	7	5	model	model	NOUN
fbem-30759	7	6	and	and	CCONJ
fbem-30759	7	7	combining	combine	VERB
fbem-30759	7	8	macroeconomic	macroeconomic	ADJ
fbem-30759	7	9	data	datum	NOUN
fbem-30759	7	10	for	for	ADP
fbem-30759	7	11	empirical	empirical	ADJ
fbem-30759	7	12	analysis	analysis	NOUN
fbem-30759	7	13	,	,	PUNCT
fbem-30759	7	14	quantitative	quantitative	ADJ
fbem-30759	7	15	methods	method	NOUN
fbem-30759	7	16	are	be	AUX
fbem-30759	7	17	used	use	VERB
fbem-30759	7	18	to	to	PART
fbem-30759	7	19	investigate	investigate	VERB
fbem-30759	7	20	the	the	DET
fbem-30759	7	21	degree	degree	NOUN
fbem-30759	7	22	of	of	ADP
fbem-30759	7	23	influence	influence	NOUN
fbem-30759	7	24	of	of	ADP
fbem-30759	7	25	china	china	PROPN
fbem-30759	7	26	's	's	PART
fbem-30759	7	27	economic	economic	ADJ
fbem-30759	7	28	development	development	NOUN
fbem-30759	7	29	on	on	ADP
fbem-30759	7	30	exchange	exchange	NOUN
fbem-30759	7	31	rate	rate	NOUN
fbem-30759	7	32	fluctuations	fluctuation	NOUN
fbem-30759	7	33	,	,	PUNCT
fbem-30759	7	34	as	as	ADV
fbem-30759	7	35	well	well	ADV
fbem-30759	7	36	as	as	ADP
fbem-30759	7	37	the	the	DET
fbem-30759	7	38	changing	change	VERB
fbem-30759	7	39	trends	trend	NOUN
fbem-30759	7	40	under	under	ADP
fbem-30759	7	41	different	different	ADJ
fbem-30759	7	42	economic	economic	ADJ
fbem-30759	7	43	cycles	cycle	NOUN
fbem-30759	7	44	.	.	PUNCT
fbem-30759	8	1	this	this	DET
fbem-30759	8	2	study	study	NOUN
fbem-30759	8	3	uses	use	VERB
fbem-30759	8	4	econometric	econometric	ADJ
fbem-30759	8	5	methods	method	NOUN
fbem-30759	8	6	,	,	PUNCT
fbem-30759	8	7	combined	combine	VERB
fbem-30759	8	8	with	with	ADP
fbem-30759	8	9	time	time	NOUN
fbem-30759	8	10	series	series	NOUN
fbem-30759	8	11	analysis	analysis	NOUN
fbem-30759	8	12	and	and	CCONJ
fbem-30759	8	13	regression	regression	VERB
fbem-30759	8	14	analysis	analysis	NOUN
fbem-30759	8	15	techniques	technique	NOUN
fbem-30759	8	16	,	,	PUNCT
fbem-30759	8	17	to	to	PART
fbem-30759	8	18	conduct	conduct	VERB
fbem-30759	8	19	in	in	ADP
fbem-30759	8	20	-	-	PUNCT
fbem-30759	8	21	depth	depth	NOUN
fbem-30759	8	22	research	research	NOUN
fbem-30759	8	23	on	on	ADP
fbem-30759	8	24	the	the	DET
fbem-30759	8	25	impact	impact	NOUN
fbem-30759	8	26	of	of	ADP
fbem-30759	8	27	exchange	exchange	NOUN
fbem-30759	8	28	rate	rate	NOUN
fbem-30759	8	29	fluctuations	fluctuation	NOUN
fbem-30759	8	30	in	in	ADP
fbem-30759	8	31	china	china	PROPN
fbem-30759	8	32	's	's	PART
fbem-30759	8	33	economic	economic	ADJ
fbem-30759	8	34	fluctuations	fluctuation	NOUN
fbem-30759	8	35	.	.	PUNCT
fbem-30759	9	1	at	at	ADP
fbem-30759	9	2	the	the	DET
fbem-30759	9	3	same	same	ADJ
fbem-30759	9	4	time	time	NOUN
fbem-30759	9	5	,	,	PUNCT
fbem-30759	9	6	relevant	relevant	ADJ
fbem-30759	9	7	theoretical	theoretical	ADJ
fbem-30759	9	8	models	model	NOUN
fbem-30759	9	9	are	be	AUX
fbem-30759	9	10	used	use	VERB
fbem-30759	9	11	to	to	PART
fbem-30759	9	12	explain	explain	VERB
fbem-30759	9	13	and	and	CCONJ
fbem-30759	9	14	verify	verify	VERB
fbem-30759	9	15	the	the	DET
fbem-30759	9	16	research	research	NOUN
fbem-30759	9	17	results	result	NOUN
fbem-30759	9	18	,	,	PUNCT
fbem-30759	9	19	ensuring	ensure	VERB
fbem-30759	9	20	the	the	DET
fbem-30759	9	21	scientific	scientific	ADJ
fbem-30759	9	22	and	and	CCONJ
fbem-30759	9	23	reliable	reliable	ADJ
fbem-30759	9	24	nature	nature	NOUN
fbem-30759	9	25	of	of	ADP
fbem-30759	9	26	the	the	DET
fbem-30759	9	27	research	research	NOUN
fbem-30759	9	28	methods	method	NOUN
fbem-30759	9	29	.	.	PUNCT
fbem-30759	10	1	the	the	DET
fbem-30759	10	2	results	result	NOUN
fbem-30759	10	3	of	of	ADP
fbem-30759	10	4	the	the	DET
fbem-30759	10	5	study	study	NOUN
fbem-30759	10	6	show	show	VERB
fbem-30759	10	7	that	that	SCONJ
fbem-30759	10	8	the	the	DET
fbem-30759	10	9	impact	impact	NOUN
fbem-30759	10	10	of	of	ADP
fbem-30759	10	11	exchange	exchange	NOUN
fbem-30759	10	12	rate	rate	NOUN
fbem-30759	10	13	fluctuations	fluctuation	NOUN
fbem-30759	10	14	in	in	ADP
fbem-30759	10	15	china	china	PROPN
fbem-30759	10	16	's	's	PART
fbem-30759	10	17	economic	economic	ADJ
fbem-30759	10	18	fluctuations	fluctuation	NOUN
fbem-30759	10	19	can	can	AUX
fbem-30759	10	20	not	not	PART
fbem-30759	10	21	be	be	AUX
fbem-30759	10	22	ignored	ignore	VERB
fbem-30759	10	23	,	,	PUNCT
fbem-30759	10	24	and	and	CCONJ
fbem-30759	10	25	macroeconomic	macroeconomic	ADJ
fbem-30759	10	26	factors	factor	NOUN
fbem-30759	10	27	such	such	ADJ
fbem-30759	10	28	as	as	ADP
fbem-30759	10	29	economic	economic	ADJ
fbem-30759	10	30	growth	growth	NOUN
fbem-30759	10	31	,	,	PUNCT
fbem-30759	10	32	export	export	NOUN
fbem-30759	10	33	trade	trade	NOUN
fbem-30759	10	34	,	,	PUNCT
fbem-30759	10	35	and	and	CCONJ
fbem-30759	10	36	international	international	ADJ
fbem-30759	10	37	competitiveness	competitiveness	NOUN
fbem-30759	10	38	have	have	VERB
fbem-30759	10	39	a	a	DET
fbem-30759	10	40	significant	significant	ADJ
fbem-30759	10	41	impact	impact	NOUN
fbem-30759	10	42	on	on	ADP
fbem-30759	10	43	exchange	exchange	NOUN
fbem-30759	10	44	rate	rate	NOUN
fbem-30759	10	45	fluctuations	fluctuation	NOUN
fbem-30759	10	46	in	in	ADP
fbem-30759	10	47	china	china	PROPN
fbem-30759	10	48	.	.	PUNCT
fbem-30759	11	1	the	the	DET
fbem-30759	11	2	study	study	NOUN
fbem-30759	11	3	provides	provide	VERB
fbem-30759	11	4	important	important	ADJ
fbem-30759	11	5	reference	reference	NOUN
fbem-30759	11	6	for	for	ADP
fbem-30759	11	7	further	far	ADV
fbem-30759	11	8	improving	improve	VERB
fbem-30759	11	9	china	china	PROPN
fbem-30759	11	10	's	's	PART
fbem-30759	11	11	economic	economic	ADJ
fbem-30759	11	12	policies	policy	NOUN
fbem-30759	11	13	,	,	PUNCT
fbem-30759	11	14	and	and	CCONJ
fbem-30759	11	15	provides	provide	VERB
fbem-30759	11	16	a	a	DET
fbem-30759	11	17	new	new	ADJ
fbem-30759	11	18	theoretical	theoretical	ADJ
fbem-30759	11	19	perspective	perspective	NOUN
fbem-30759	11	20	and	and	CCONJ
fbem-30759	11	21	empirical	empirical	ADJ
fbem-30759	11	22	support	support	NOUN
fbem-30759	11	23	for	for	ADP
fbem-30759	11	24	related	related	ADJ
fbem-30759	11	25	fields	field	NOUN
fbem-30759	11	26	of	of	ADP
fbem-30759	11	27	research	research	NOUN
fbem-30759	11	28	.	.	PUNCT
fbem-30759	12	1	keywords	keyword	NOUN
fbem-30759	12	2	:	:	PUNCT
fbem-30759	12	3	exchange	exchange	NOUN
fbem-30759	12	4	rate	rate	NOUN
fbem-30759	12	5	fluctuations	fluctuation	NOUN
fbem-30759	12	6	;	;	PUNCT
fbem-30759	12	7	economic	economic	ADJ
fbem-30759	12	8	fluctuations	fluctuation	NOUN
fbem-30759	12	9	;	;	PUNCT
fbem-30759	12	10	gdp	gdp	NOUN
fbem-30759	12	11	;	;	PUNCT
fbem-30759	12	12	money	money	NOUN
fbem-30759	12	13	supply	supply	NOUN
fbem-30759	12	14	.	.	PUNCT
fbem-30759	13	1	1	1	X
fbem-30759	13	2	.	.	X
fbem-30759	13	3	introduction	introduction	NOUN
fbem-30759	13	4	1.1	1.1	NUM
fbem-30759	13	5	.	.	PUNCT
fbem-30759	14	1	research	research	NOUN
fbem-30759	14	2	background	background	NOUN
fbem-30759	14	3	exchange	exchange	NOUN
fbem-30759	14	4	rate	rate	NOUN
fbem-30759	14	5	fluctuations	fluctuation	NOUN
fbem-30759	14	6	have	have	AUX
fbem-30759	14	7	long	long	ADV
fbem-30759	14	8	been	be	AUX
fbem-30759	14	9	a	a	DET
fbem-30759	14	10	focal	focal	ADJ
fbem-30759	14	11	issue	issue	NOUN
fbem-30759	14	12	in	in	ADP
fbem-30759	14	13	china	china	PROPN
fbem-30759	14	14	's	's	PART
fbem-30759	14	15	economic	economic	ADJ
fbem-30759	14	16	landscape	landscape	NOUN
fbem-30759	14	17	.	.	PUNCT
fbem-30759	15	1	as	as	SCONJ
fbem-30759	15	2	the	the	DET
fbem-30759	15	3	chinese	chinese	ADJ
fbem-30759	15	4	economy	economy	NOUN
fbem-30759	15	5	continues	continue	VERB
fbem-30759	15	6	to	to	PART
fbem-30759	15	7	grow	grow	VERB
fbem-30759	15	8	rapidly	rapidly	ADV
fbem-30759	15	9	,	,	PUNCT
fbem-30759	15	10	the	the	DET
fbem-30759	15	11	impact	impact	NOUN
fbem-30759	15	12	of	of	ADP
fbem-30759	15	13	exchange	exchange	NOUN
fbem-30759	15	14	rate	rate	NOUN
fbem-30759	15	15	volatility	volatility	NOUN
fbem-30759	15	16	on	on	ADP
fbem-30759	15	17	the	the	DET
fbem-30759	15	18	domestic	domestic	ADJ
fbem-30759	15	19	economy	economy	NOUN
fbem-30759	15	20	has	have	AUX
fbem-30759	15	21	become	become	AUX
fbem-30759	15	22	increasingly	increasingly	ADV
fbem-30759	15	23	pronounced	pronounce	VERB
fbem-30759	15	24	.	.	PUNCT
fbem-30759	16	1	as	as	ADP
fbem-30759	16	2	the	the	DET
fbem-30759	16	3	world	world	NOUN
fbem-30759	16	4	's	's	PART
fbem-30759	16	5	largest	large	ADJ
fbem-30759	16	6	developing	develop	VERB
fbem-30759	16	7	economy	economy	NOUN
fbem-30759	16	8	,	,	PUNCT
fbem-30759	16	9	china	china	PROPN
fbem-30759	16	10	's	's	PART
fbem-30759	16	11	economic	economic	ADJ
fbem-30759	16	12	fluctuations	fluctuation	NOUN
fbem-30759	16	13	and	and	CCONJ
fbem-30759	16	14	their	their	PRON
fbem-30759	16	15	influence	influence	NOUN
fbem-30759	16	16	on	on	ADP
fbem-30759	16	17	exchange	exchange	NOUN
fbem-30759	16	18	rates	rate	NOUN
fbem-30759	16	19	have	have	AUX
fbem-30759	16	20	attracted	attract	VERB
fbem-30759	16	21	widespread	widespread	ADJ
fbem-30759	16	22	attention	attention	NOUN
fbem-30759	16	23	.	.	PUNCT
fbem-30759	17	1	the	the	DET
fbem-30759	17	2	exchange	exchange	NOUN
fbem-30759	17	3	rate	rate	NOUN
fbem-30759	17	4	,	,	PUNCT
fbem-30759	17	5	defined	define	VERB
fbem-30759	17	6	as	as	ADP
fbem-30759	17	7	the	the	DET
fbem-30759	17	8	relative	relative	ADJ
fbem-30759	17	9	value	value	NOUN
fbem-30759	17	10	of	of	ADP
fbem-30759	17	11	a	a	DET
fbem-30759	17	12	nation	nation	NOUN
fbem-30759	17	13	's	's	PART
fbem-30759	17	14	currency	currency	NOUN
fbem-30759	17	15	against	against	ADP
fbem-30759	17	16	others	other	NOUN
fbem-30759	17	17	in	in	ADP
fbem-30759	17	18	international	international	ADJ
fbem-30759	17	19	transactions	transaction	NOUN
fbem-30759	17	20	,	,	PUNCT
fbem-30759	17	21	not	not	PART
fbem-30759	17	22	only	only	ADV
fbem-30759	17	23	reflects	reflect	VERB
fbem-30759	17	24	a	a	DET
fbem-30759	17	25	country	country	NOUN
fbem-30759	17	26	's	's	PART
fbem-30759	17	27	economic	economic	ADJ
fbem-30759	17	28	strength	strength	NOUN
fbem-30759	17	29	but	but	CCONJ
fbem-30759	17	30	also	also	ADV
fbem-30759	17	31	significantly	significantly	ADV
fbem-30759	17	32	affects	affect	VERB
fbem-30759	17	33	domestic	domestic	ADJ
fbem-30759	17	34	economic	economic	ADJ
fbem-30759	17	35	activities	activity	NOUN
fbem-30759	17	36	and	and	CCONJ
fbem-30759	17	37	international	international	ADJ
fbem-30759	17	38	trade	trade	NOUN
fbem-30759	18	1	[	[	X
fbem-30759	18	2	1	1	NUM
fbem-30759	18	3	]	]	PUNCT
fbem-30759	18	4	.	.	PUNCT
fbem-30759	19	1	in	in	ADP
fbem-30759	19	2	recent	recent	ADJ
fbem-30759	19	3	years	year	NOUN
fbem-30759	19	4	,	,	PUNCT
fbem-30759	19	5	china	china	PROPN
fbem-30759	19	6	's	's	PART
fbem-30759	19	7	economy	economy	NOUN
fbem-30759	19	8	has	have	AUX
fbem-30759	19	9	faced	face	VERB
fbem-30759	19	10	multiple	multiple	ADJ
fbem-30759	19	11	internal	internal	ADJ
fbem-30759	19	12	and	and	CCONJ
fbem-30759	19	13	external	external	ADJ
fbem-30759	19	14	pressures	pressure	NOUN
fbem-30759	19	15	,	,	PUNCT
fbem-30759	19	16	including	include	VERB
fbem-30759	19	17	slowing	slow	VERB
fbem-30759	19	18	global	global	ADJ
fbem-30759	19	19	economic	economic	ADJ
fbem-30759	19	20	growth	growth	NOUN
fbem-30759	19	21	,	,	PUNCT
fbem-30759	19	22	escalating	escalate	VERB
fbem-30759	19	23	international	international	ADJ
fbem-30759	19	24	trade	trade	NOUN
fbem-30759	19	25	frictions	friction	NOUN
fbem-30759	19	26	and	and	CCONJ
fbem-30759	19	27	barriers	barrier	NOUN
fbem-30759	19	28	,	,	PUNCT
fbem-30759	19	29	geopolitical	geopolitical	ADJ
fbem-30759	19	30	risks	risk	NOUN
fbem-30759	19	31	,	,	PUNCT
fbem-30759	19	32	and	and	CCONJ
fbem-30759	19	33	domestic	domestic	ADJ
fbem-30759	19	34	pandemic	pandemic	ADJ
fbem-30759	19	35	-	-	PUNCT
fbem-30759	19	36	related	relate	VERB
fbem-30759	19	37	shocks	shock	NOUN
fbem-30759	19	38	.	.	PUNCT
fbem-30759	20	1	these	these	DET
fbem-30759	20	2	challenges	challenge	NOUN
fbem-30759	20	3	have	have	AUX
fbem-30759	20	4	not	not	PART
fbem-30759	20	5	only	only	ADV
fbem-30759	20	6	strained	strain	VERB
fbem-30759	20	7	domestic	domestic	ADJ
fbem-30759	20	8	economic	economic	ADJ
fbem-30759	20	9	conditions	condition	NOUN
fbem-30759	20	10	but	but	CCONJ
fbem-30759	20	11	also	also	ADV
fbem-30759	20	12	exerted	exert	VERB
fbem-30759	20	13	substantial	substantial	ADJ
fbem-30759	20	14	influence	influence	NOUN
fbem-30759	20	15	on	on	ADP
fbem-30759	20	16	the	the	DET
fbem-30759	20	17	exchange	exchange	NOUN
fbem-30759	20	18	rate	rate	NOUN
fbem-30759	20	19	.	.	PUNCT
fbem-30759	21	1	understanding	understanding	NOUN
fbem-30759	21	2	and	and	CCONJ
fbem-30759	21	3	analyzing	analyze	VERB
fbem-30759	21	4	the	the	DET
fbem-30759	21	5	impact	impact	NOUN
fbem-30759	21	6	of	of	ADP
fbem-30759	21	7	china	china	PROPN
fbem-30759	21	8	's	's	PART
fbem-30759	21	9	economic	economic	ADJ
fbem-30759	21	10	fluctuations	fluctuation	NOUN
fbem-30759	21	11	on	on	ADP
fbem-30759	21	12	exchange	exchange	NOUN
fbem-30759	21	13	rate	rate	NOUN
fbem-30759	21	14	movements	movement	NOUN
fbem-30759	21	15	is	be	AUX
fbem-30759	21	16	crucial	crucial	ADJ
fbem-30759	21	17	for	for	ADP
fbem-30759	21	18	formulating	formulate	VERB
fbem-30759	21	19	effective	effective	ADJ
fbem-30759	21	20	economic	economic	ADJ
fbem-30759	21	21	policies	policy	NOUN
fbem-30759	21	22	and	and	CCONJ
fbem-30759	21	23	response	response	NOUN
fbem-30759	21	24	strategies	strategy	NOUN
fbem-30759	21	25	.	.	PUNCT
fbem-30759	22	1	furthermore	furthermore	ADV
fbem-30759	22	2	,	,	PUNCT
fbem-30759	22	3	china	china	PROPN
fbem-30759	22	4	's	's	PART
fbem-30759	22	5	exchange	exchange	NOUN
fbem-30759	22	6	rate	rate	NOUN
fbem-30759	22	7	regime	regime	NOUN
fbem-30759	22	8	reforms	reform	NOUN
fbem-30759	22	9	and	and	CCONJ
fbem-30759	22	10	evolving	evolve	VERB
fbem-30759	22	11	economic	economic	ADJ
fbem-30759	22	12	relations	relation	NOUN
fbem-30759	22	13	with	with	ADP
fbem-30759	22	14	major	major	ADJ
fbem-30759	22	15	global	global	ADJ
fbem-30759	22	16	economies	economy	NOUN
fbem-30759	22	17	,	,	PUNCT
fbem-30759	22	18	such	such	ADJ
fbem-30759	22	19	as	as	ADP
fbem-30759	22	20	the	the	DET
fbem-30759	22	21	u.s	u.s	PROPN
fbem-30759	22	22	.	.	PROPN
fbem-30759	22	23	,	,	PUNCT
fbem-30759	22	24	have	have	VERB
fbem-30759	22	25	profound	profound	ADJ
fbem-30759	22	26	implications	implication	NOUN
fbem-30759	22	27	for	for	ADP
fbem-30759	22	28	its	its	PRON
fbem-30759	22	29	exchange	exchange	NOUN
fbem-30759	22	30	rate	rate	NOUN
fbem-30759	22	31	dynamics	dynamic	NOUN
fbem-30759	22	32	.	.	PUNCT
fbem-30759	23	1	for	for	ADP
fbem-30759	23	2	instance	instance	NOUN
fbem-30759	23	3	,	,	PUNCT
fbem-30759	23	4	adjustments	adjustment	NOUN
fbem-30759	23	5	in	in	ADP
fbem-30759	23	6	u.s	u.s	PROPN
fbem-30759	23	7	.	.	PROPN
fbem-30759	23	8	monetary	monetary	ADJ
fbem-30759	23	9	policy	policy	NOUN
fbem-30759	23	10	may	may	AUX
fbem-30759	23	11	trigger	trigger	VERB
fbem-30759	23	12	global	global	ADJ
fbem-30759	23	13	capital	capital	NOUN
fbem-30759	23	14	flows	flow	NOUN
fbem-30759	23	15	,	,	PUNCT
fbem-30759	23	16	thereby	thereby	ADV
fbem-30759	23	17	affecting	affect	VERB
fbem-30759	23	18	china	china	PROPN
fbem-30759	23	19	's	's	PART
fbem-30759	23	20	exchange	exchange	NOUN
fbem-30759	23	21	rate	rate	NOUN
fbem-30759	23	22	.	.	PUNCT
fbem-30759	24	1	therefore	therefore	ADV
fbem-30759	24	2	,	,	PUNCT
fbem-30759	24	3	a	a	DET
fbem-30759	24	4	macro	macro	ADJ
fbem-30759	24	5	-	-	NOUN
fbem-30759	24	6	level	level	NOUN
fbem-30759	24	7	analysis	analysis	NOUN
fbem-30759	24	8	of	of	ADP
fbem-30759	24	9	how	how	SCONJ
fbem-30759	24	10	china	china	PROPN
fbem-30759	24	11	's	's	PART
fbem-30759	24	12	economic	economic	ADJ
fbem-30759	24	13	fluctuations	fluctuation	NOUN
fbem-30759	24	14	influence	influence	VERB
fbem-30759	24	15	exchange	exchange	NOUN
fbem-30759	24	16	rate	rate	NOUN
fbem-30759	24	17	movements	movement	NOUN
fbem-30759	24	18	is	be	AUX
fbem-30759	24	19	essential	essential	ADJ
fbem-30759	24	20	.	.	PUNCT
fbem-30759	25	1	in	in	ADP
fbem-30759	25	2	summary	summary	NOUN
fbem-30759	25	3	,	,	PUNCT
fbem-30759	25	4	the	the	DET
fbem-30759	25	5	relationship	relationship	NOUN
fbem-30759	25	6	between	between	ADP
fbem-30759	25	7	china	china	PROPN
fbem-30759	25	8	's	's	PART
fbem-30759	25	9	economic	economic	ADJ
fbem-30759	25	10	fluctuations	fluctuation	NOUN
fbem-30759	25	11	and	and	CCONJ
fbem-30759	25	12	exchange	exchange	NOUN
fbem-30759	25	13	rate	rate	NOUN
fbem-30759	25	14	dynamics	dynamic	NOUN
fbem-30759	25	15	is	be	AUX
fbem-30759	25	16	a	a	DET
fbem-30759	25	17	complex	complex	ADJ
fbem-30759	25	18	and	and	CCONJ
fbem-30759	25	19	critical	critical	ADJ
fbem-30759	25	20	issue	issue	NOUN
fbem-30759	25	21	.	.	PUNCT
fbem-30759	26	1	a	a	DET
fbem-30759	26	2	thorough	thorough	ADJ
fbem-30759	26	3	investigation	investigation	NOUN
fbem-30759	26	4	of	of	ADP
fbem-30759	26	5	this	this	DET
fbem-30759	26	6	topic	topic	NOUN
fbem-30759	26	7	will	will	AUX
fbem-30759	26	8	enhance	enhance	VERB
fbem-30759	26	9	our	our	PRON
fbem-30759	26	10	understanding	understanding	NOUN
fbem-30759	26	11	of	of	ADP
fbem-30759	26	12	china	china	PROPN
fbem-30759	26	13	's	's	PART
fbem-30759	26	14	economic	economic	ADJ
fbem-30759	26	15	mechanisms	mechanism	NOUN
fbem-30759	26	16	and	and	CCONJ
fbem-30759	26	17	provide	provide	VERB
fbem-30759	26	18	theoretical	theoretical	ADJ
fbem-30759	26	19	and	and	CCONJ
fbem-30759	26	20	policy	policy	NOUN
fbem-30759	26	21	insights	insight	NOUN
fbem-30759	26	22	for	for	ADP
fbem-30759	26	23	sustainable	sustainable	ADJ
fbem-30759	26	24	economic	economic	ADJ
fbem-30759	26	25	development	development	NOUN
fbem-30759	26	26	and	and	CCONJ
fbem-30759	26	27	exchange	exchange	NOUN
fbem-30759	26	28	rate	rate	NOUN
fbem-30759	26	29	regime	regime	NOUN
fbem-30759	26	30	reforms	reform	NOUN
fbem-30759	26	31	.	.	PUNCT
fbem-30759	27	1	1.2	1.2	NUM
fbem-30759	27	2	.	.	PUNCT
fbem-30759	27	3	international	international	ADJ
fbem-30759	27	4	research	research	PROPN
fbem-30759	27	5	charles	charles	PROPN
fbem-30759	27	6	engel	engel	PROPN
fbem-30759	27	7	(	(	PUNCT
fbem-30759	27	8	2016	2016	NUM
fbem-30759	27	9	)	)	PUNCT
fbem-30759	27	10	reviewed	review	VERB
fbem-30759	27	11	the	the	DET
fbem-30759	27	12	evolution	evolution	NOUN
fbem-30759	27	13	of	of	ADP
fbem-30759	27	14	exchange	exchange	NOUN
fbem-30759	27	15	rate	rate	NOUN
fbem-30759	27	16	dynamics	dynamic	NOUN
fbem-30759	27	17	models	model	NOUN
fbem-30759	27	18	and	and	CCONJ
fbem-30759	27	19	proposed	propose	VERB
fbem-30759	27	20	a	a	DET
fbem-30759	27	21	new	new	ADJ
fbem-30759	27	22	framework	framework	NOUN
fbem-30759	27	23	,	,	PUNCT
fbem-30759	27	24	emphasizing	emphasize	VERB
fbem-30759	27	25	the	the	DET
fbem-30759	27	26	roles	role	NOUN
fbem-30759	27	27	of	of	ADP
fbem-30759	27	28	economic	economic	ADJ
fbem-30759	27	29	fundamentals	fundamental	NOUN
fbem-30759	27	30	,	,	PUNCT
fbem-30759	27	31	market	market	NOUN
fbem-30759	27	32	expectations	expectation	NOUN
fbem-30759	27	33	,	,	PUNCT
fbem-30759	27	34	and	and	CCONJ
fbem-30759	27	35	policy	policy	NOUN
fbem-30759	27	36	interventions	intervention	NOUN
fbem-30759	27	37	.	.	PUNCT
fbem-30759	28	1	the	the	DET
fbem-30759	28	2	study	study	NOUN
fbem-30759	28	3	also	also	ADV
fbem-30759	28	4	noted	note	VERB
fbem-30759	28	5	that	that	SCONJ
fbem-30759	28	6	the	the	DET
fbem-30759	28	7	impact	impact	NOUN
fbem-30759	28	8	of	of	ADP
fbem-30759	28	9	exchange	exchange	NOUN
fbem-30759	28	10	rate	rate	NOUN
fbem-30759	28	11	movements	movement	NOUN
fbem-30759	28	12	may	may	AUX
fbem-30759	28	13	vary	vary	VERB
fbem-30759	28	14	over	over	ADP
fbem-30759	28	15	time	time	NOUN
fbem-30759	28	16	and	and	CCONJ
fbem-30759	28	17	across	across	ADP
fbem-30759	28	18	market	market	NOUN
fbem-30759	28	19	conditions	condition	NOUN
fbem-30759	28	20	.	.	PUNCT
fbem-30759	29	1	adrien	adrien	PROPN
fbem-30759	29	2	verdelhan	verdelhan	PROPN
fbem-30759	29	3	(	(	PUNCT
fbem-30759	29	4	2010	2010	NUM
fbem-30759	29	5	)	)	PUNCT
fbem-30759	29	6	analyzed	analyze	VERB
fbem-30759	29	7	the	the	DET
fbem-30759	29	8	long	long	ADJ
fbem-30759	29	9	-	-	PUNCT
fbem-30759	29	10	term	term	NOUN
fbem-30759	29	11	relationship	relationship	NOUN
fbem-30759	29	12	between	between	ADP
fbem-30759	29	13	exchange	exchange	NOUN
fbem-30759	29	14	rate	rate	NOUN
fbem-30759	29	15	movements	movement	NOUN
fbem-30759	29	16	and	and	CCONJ
fbem-30759	29	17	economic	economic	ADJ
fbem-30759	29	18	fundamentals	fundamental	NOUN
fbem-30759	29	19	,	,	PUNCT
fbem-30759	29	20	such	such	ADJ
fbem-30759	29	21	as	as	ADP
fbem-30759	29	22	exports	export	NOUN
fbem-30759	29	23	,	,	PUNCT
fbem-30759	29	24	imports	import	NOUN
fbem-30759	29	25	,	,	PUNCT
fbem-30759	29	26	and	and	CCONJ
fbem-30759	29	27	inflation	inflation	NOUN
fbem-30759	29	28	.	.	PUNCT
fbem-30759	30	1	the	the	DET
fbem-30759	30	2	findings	finding	NOUN
fbem-30759	30	3	suggested	suggest	VERB
fbem-30759	30	4	that	that	SCONJ
fbem-30759	30	5	this	this	DET
fbem-30759	30	6	relationship	relationship	NOUN
fbem-30759	30	7	is	be	AUX
fbem-30759	30	8	unstable	unstable	ADJ
fbem-30759	30	9	and	and	CCONJ
fbem-30759	30	10	subject	subject	ADJ
fbem-30759	30	11	to	to	ADP
fbem-30759	30	12	policy	policy	NOUN
fbem-30759	30	13	interventions	intervention	NOUN
fbem-30759	30	14	and	and	CCONJ
fbem-30759	30	15	market	market	NOUN
fbem-30759	30	16	expectations	expectation	NOUN
fbem-30759	30	17	.	.	PUNCT
fbem-30759	31	1	1.3	1.3	NUM
fbem-30759	31	2	.	.	PUNCT
fbem-30759	31	3	research	research	NOUN
fbem-30759	31	4	content	content	NOUN
fbem-30759	31	5	and	and	CCONJ
fbem-30759	31	6	methodology	methodology	NOUN
fbem-30759	31	7	1.3.1	1.3.1	NUM
fbem-30759	31	8	.	.	PUNCT
fbem-30759	32	1	research	research	NOUN
fbem-30759	32	2	content	content	NOUN
fbem-30759	32	3	this	this	DET
fbem-30759	32	4	study	study	NOUN
fbem-30759	32	5	focuses	focus	VERB
fbem-30759	32	6	on	on	ADP
fbem-30759	32	7	the	the	DET
fbem-30759	32	8	factors	factor	NOUN
fbem-30759	32	9	influencing	influence	VERB
fbem-30759	32	10	exchange	exchange	NOUN
fbem-30759	32	11	rate	rate	NOUN
fbem-30759	32	12	fluctuations	fluctuation	NOUN
fbem-30759	32	13	amid	amid	ADP
fbem-30759	32	14	china	china	PROPN
fbem-30759	32	15	's	's	PART
fbem-30759	32	16	economic	economic	ADJ
fbem-30759	32	17	volatility	volatility	NOUN
fbem-30759	32	18	.	.	PUNCT
fbem-30759	33	1	it	it	PRON
fbem-30759	33	2	begins	begin	VERB
fbem-30759	33	3	with	with	ADP
fbem-30759	33	4	an	an	DET
fbem-30759	33	5	overview	overview	NOUN
fbem-30759	33	6	of	of	ADP
fbem-30759	33	7	economic	economic	ADJ
fbem-30759	33	8	fluctuations	fluctuation	NOUN
fbem-30759	33	9	and	and	CCONJ
fbem-30759	33	10	exchange	exchange	NOUN
fbem-30759	33	11	rate	rate	NOUN
fbem-30759	33	12	dynamics	dynamic	NOUN
fbem-30759	33	13	,	,	PUNCT
fbem-30759	33	14	followed	follow	VERB
fbem-30759	33	15	by	by	ADP
fbem-30759	33	16	an	an	DET
fbem-30759	33	17	in	in	ADP
fbem-30759	33	18	-	-	PUNCT
fbem-30759	33	19	depth	depth	NOUN
fbem-30759	33	20	analysis	analysis	NOUN
fbem-30759	33	21	of	of	ADP
fbem-30759	33	22	their	their	PRON
fbem-30759	33	23	interplay	interplay	NOUN
fbem-30759	33	24	.	.	PUNCT
fbem-30759	34	1	the	the	DET
fbem-30759	34	2	study	study	NOUN
fbem-30759	34	3	then	then	ADV
fbem-30759	34	4	identifies	identify	VERB
fbem-30759	34	5	key	key	ADJ
fbem-30759	34	6	determinants	determinant	NOUN
fbem-30759	34	7	of	of	ADP
fbem-30759	34	8	exchange	exchange	NOUN
fbem-30759	34	9	rate	rate	NOUN
fbem-30759	34	10	movements	movement	NOUN
fbem-30759	34	11	through	through	ADP
fbem-30759	34	12	empirical	empirical	ADJ
fbem-30759	34	13	analysis	analysis	NOUN
fbem-30759	34	14	and	and	CCONJ
fbem-30759	34	15	concludes	conclude	VERB
fbem-30759	34	16	with	with	ADP
fbem-30759	34	17	policy	policy	NOUN
fbem-30759	34	18	recommendations	recommendation	NOUN
fbem-30759	34	19	to	to	PART
fbem-30759	34	20	guide	guide	VERB
fbem-30759	34	21	exchange	exchange	NOUN
fbem-30759	34	22	rate	rate	NOUN
fbem-30759	34	23	policy	policy	NOUN
fbem-30759	34	24	adjustments	adjustment	NOUN
fbem-30759	34	25	during	during	ADP
fbem-30759	34	26	economic	economic	ADJ
fbem-30759	34	27	fluctuations	fluctuation	NOUN
fbem-30759	34	28	,	,	PUNCT
fbem-30759	34	29	thereby	thereby	ADV
fbem-30759	34	30	promoting	promote	VERB
fbem-30759	34	31	stable	stable	ADJ
fbem-30759	34	32	economic	economic	ADJ
fbem-30759	34	33	growth	growth	NOUN
fbem-30759	34	34	and	and	CCONJ
fbem-30759	34	35	balanced	balanced	ADJ
fbem-30759	34	36	international	international	ADJ
fbem-30759	34	37	trade	trade	NOUN
fbem-30759	34	38	.	.	PUNCT
fbem-30759	35	1	1.3.2	1.3.2	X
fbem-30759	35	2	.	.	PUNCT
fbem-30759	35	3	research	research	NOUN
fbem-30759	35	4	methodology	methodology	NOUN
fbem-30759	35	5	based	base	VERB
fbem-30759	35	6	on	on	ADP
fbem-30759	35	7	the	the	DET
fbem-30759	35	8	qualitative	qualitative	ADJ
fbem-30759	35	9	analysis	analysis	NOUN
fbem-30759	35	10	of	of	ADP
fbem-30759	35	11	factors	factor	NOUN
fbem-30759	35	12	influencing	influence	VERB
fbem-30759	35	13	exchange	exchange	NOUN
fbem-30759	35	14	rate	rate	NOUN
fbem-30759	35	15	fluctuations	fluctuation	NOUN
fbem-30759	35	16	,	,	PUNCT
fbem-30759	35	17	this	this	DET
fbem-30759	35	18	study	study	NOUN
fbem-30759	35	19	further	far	ADV
fbem-30759	35	20	employs	employ	VERB
fbem-30759	35	21	83	83	NUM
fbem-30759	35	22	mathematical	mathematical	ADJ
fbem-30759	35	23	statistical	statistical	ADJ
fbem-30759	35	24	methods	method	NOUN
fbem-30759	35	25	to	to	PART
fbem-30759	35	26	establish	establish	VERB
fbem-30759	35	27	regression	regression	NOUN
fbem-30759	35	28	function	function	NOUN
fbem-30759	35	29	expressions	expression	NOUN
fbem-30759	35	30	between	between	ADP
fbem-30759	35	31	dependent	dependent	ADJ
fbem-30759	35	32	and	and	CCONJ
fbem-30759	35	33	independent	independent	ADJ
fbem-30759	35	34	variables	variable	NOUN
fbem-30759	35	35	,	,	PUNCT
fbem-30759	35	36	followed	follow	VERB
fbem-30759	35	37	by	by	ADP
fbem-30759	35	38	in	in	ADP
fbem-30759	35	39	-	-	PUNCT
fbem-30759	35	40	depth	depth	NOUN
fbem-30759	35	41	empirical	empirical	ADJ
fbem-30759	35	42	analysis	analysis	NOUN
fbem-30759	35	43	.	.	PUNCT
fbem-30759	36	1	2	2	X
fbem-30759	36	2	.	.	X
fbem-30759	36	3	theoretical	theoretical	ADJ
fbem-30759	36	4	analysis	analysis	NOUN
fbem-30759	36	5	of	of	ADP
fbem-30759	36	6	china	china	PROPN
fbem-30759	36	7	's	's	PART
fbem-30759	36	8	economic	economic	ADJ
fbem-30759	36	9	fluctuations	fluctuation	NOUN
fbem-30759	36	10	and	and	CCONJ
fbem-30759	36	11	exchange	exchange	NOUN
fbem-30759	36	12	rate	rate	NOUN
fbem-30759	36	13	movements	movement	NOUN
fbem-30759	36	14	2.1	2.1	NUM
fbem-30759	36	15	.	.	PUNCT
fbem-30759	37	1	theoretical	theoretical	ADJ
fbem-30759	37	2	analysis	analysis	NOUN
fbem-30759	37	3	of	of	ADP
fbem-30759	37	4	exchange	exchange	NOUN
fbem-30759	37	5	rate	rate	NOUN
fbem-30759	37	6	fluctuations	fluctuation	NOUN
fbem-30759	37	7	2.1.1	2.1.1	NUM
fbem-30759	37	8	.	.	PUNCT
fbem-30759	38	1	impact	impact	NOUN
fbem-30759	38	2	of	of	ADP
fbem-30759	38	3	external	external	ADJ
fbem-30759	38	4	environmental	environmental	ADJ
fbem-30759	38	5	factors	factor	NOUN
fbem-30759	38	6	on	on	ADP
fbem-30759	38	7	exchange	exchange	NOUN
fbem-30759	38	8	rate	rate	NOUN
fbem-30759	38	9	fluctuations	fluctuation	NOUN
fbem-30759	38	10	(	(	PUNCT
fbem-30759	38	11	1	1	X
fbem-30759	38	12	)	)	PUNCT
fbem-30759	38	13	international	international	ADJ
fbem-30759	38	14	trade	trade	NOUN
fbem-30759	38	15	conditions	condition	NOUN
fbem-30759	38	16	international	international	ADJ
fbem-30759	38	17	trade	trade	NOUN
fbem-30759	38	18	conditions	condition	NOUN
fbem-30759	38	19	in	in	ADP
fbem-30759	38	20	the	the	DET
fbem-30759	38	21	external	external	ADJ
fbem-30759	38	22	environment	environment	NOUN
fbem-30759	38	23	have	have	VERB
fbem-30759	38	24	a	a	DET
fbem-30759	38	25	significant	significant	ADJ
fbem-30759	38	26	impact	impact	NOUN
fbem-30759	38	27	on	on	ADP
fbem-30759	38	28	exchange	exchange	NOUN
fbem-30759	38	29	rate	rate	NOUN
fbem-30759	38	30	fluctuations	fluctuation	NOUN
fbem-30759	38	31	during	during	ADP
fbem-30759	38	32	china	china	PROPN
fbem-30759	38	33	's	's	PART
fbem-30759	38	34	economic	economic	ADJ
fbem-30759	38	35	volatility	volatility	NOUN
fbem-30759	38	36	.	.	PUNCT
fbem-30759	39	1	we	we	PRON
fbem-30759	39	2	will	will	AUX
fbem-30759	39	3	analyze	analyze	VERB
fbem-30759	39	4	the	the	DET
fbem-30759	39	5	impact	impact	NOUN
fbem-30759	39	6	of	of	ADP
fbem-30759	39	7	economic	economic	ADJ
fbem-30759	39	8	conditions	condition	NOUN
fbem-30759	39	9	,	,	PUNCT
fbem-30759	39	10	changes	change	NOUN
fbem-30759	39	11	in	in	ADP
fbem-30759	39	12	trade	trade	NOUN
fbem-30759	39	13	policies	policy	NOUN
fbem-30759	39	14	,	,	PUNCT
fbem-30759	39	15	and	and	CCONJ
fbem-30759	39	16	global	global	ADJ
fbem-30759	39	17	trade	trade	NOUN
fbem-30759	39	18	trends	trend	NOUN
fbem-30759	39	19	of	of	ADP
fbem-30759	39	20	major	major	ADJ
fbem-30759	39	21	trading	trading	NOUN
fbem-30759	39	22	partners	partner	NOUN
fbem-30759	39	23	on	on	ADP
fbem-30759	39	24	economic	economic	ADJ
fbem-30759	39	25	fluctuations	fluctuation	NOUN
fbem-30759	39	26	.	.	PUNCT
fbem-30759	40	1	in	in	ADP
fbem-30759	40	2	particular	particular	ADJ
fbem-30759	40	3	,	,	PUNCT
fbem-30759	40	4	we	we	PRON
fbem-30759	40	5	will	will	AUX
fbem-30759	40	6	focus	focus	VERB
fbem-30759	40	7	on	on	ADP
fbem-30759	40	8	china	china	PROPN
fbem-30759	40	9	's	's	PART
fbem-30759	40	10	trade	trade	NOUN
fbem-30759	40	11	dependence	dependence	NOUN
fbem-30759	40	12	on	on	ADP
fbem-30759	40	13	and	and	CCONJ
fbem-30759	40	14	its	its	PRON
fbem-30759	40	15	changes	change	NOUN
fbem-30759	40	16	with	with	ADP
fbem-30759	40	17	major	major	ADJ
fbem-30759	40	18	trading	trading	NOUN
fbem-30759	40	19	partners	partner	NOUN
fbem-30759	40	20	such	such	ADJ
fbem-30759	40	21	as	as	ADP
fbem-30759	40	22	the	the	DET
fbem-30759	40	23	united	united	PROPN
fbem-30759	40	24	states	states	PROPN
fbem-30759	40	25	,	,	PUNCT
fbem-30759	40	26	the	the	DET
fbem-30759	40	27	european	european	PROPN
fbem-30759	40	28	union	union	PROPN
fbem-30759	40	29	,	,	PUNCT
fbem-30759	40	30	and	and	CCONJ
fbem-30759	40	31	asean	asean	ADJ
fbem-30759	40	32	,	,	PUNCT
fbem-30759	40	33	and	and	CCONJ
fbem-30759	40	34	their	their	PRON
fbem-30759	40	35	impact	impact	NOUN
fbem-30759	40	36	on	on	ADP
fbem-30759	40	37	exchange	exchange	NOUN
fbem-30759	40	38	rates	rate	NOUN
fbem-30759	40	39	.	.	PUNCT
fbem-30759	41	1	international	international	ADJ
fbem-30759	41	2	trade	trade	NOUN
fbem-30759	41	3	conditions	condition	NOUN
fbem-30759	41	4	include	include	VERB
fbem-30759	41	5	the	the	DET
fbem-30759	41	6	economic	economic	ADJ
fbem-30759	41	7	status	status	NOUN
fbem-30759	41	8	of	of	ADP
fbem-30759	41	9	major	major	ADJ
fbem-30759	41	10	trading	trading	NOUN
fbem-30759	41	11	partners	partner	NOUN
fbem-30759	41	12	,	,	PUNCT
fbem-30759	41	13	changes	change	NOUN
fbem-30759	41	14	in	in	ADP
fbem-30759	41	15	trade	trade	NOUN
fbem-30759	41	16	policies	policy	NOUN
fbem-30759	41	17	,	,	PUNCT
fbem-30759	41	18	and	and	CCONJ
fbem-30759	41	19	global	global	ADJ
fbem-30759	41	20	trade	trade	NOUN
fbem-30759	41	21	trends	trend	NOUN
fbem-30759	41	22	[	[	X
fbem-30759	41	23	2	2	NUM
fbem-30759	41	24	]	]	PUNCT
fbem-30759	41	25	.	.	PUNCT
fbem-30759	42	1	positive	positive	ADJ
fbem-30759	42	2	international	international	ADJ
fbem-30759	42	3	trade	trade	NOUN
fbem-30759	42	4	conditions	condition	NOUN
fbem-30759	42	5	usually	usually	ADV
fbem-30759	42	6	boost	boost	VERB
fbem-30759	42	7	china	china	PROPN
fbem-30759	42	8	's	's	PART
fbem-30759	42	9	exports	export	NOUN
fbem-30759	42	10	,	,	PUNCT
fbem-30759	42	11	increase	increase	VERB
fbem-30759	42	12	foreign	foreign	ADJ
fbem-30759	42	13	exchange	exchange	NOUN
fbem-30759	42	14	earnings	earning	NOUN
fbem-30759	42	15	,	,	PUNCT
fbem-30759	42	16	and	and	CCONJ
fbem-30759	42	17	provide	provide	VERB
fbem-30759	42	18	some	some	DET
fbem-30759	42	19	support	support	NOUN
fbem-30759	42	20	to	to	ADP
fbem-30759	42	21	economic	economic	ADJ
fbem-30759	42	22	fluctuations	fluctuation	NOUN
fbem-30759	42	23	;	;	PUNCT
fbem-30759	42	24	while	while	SCONJ
fbem-30759	42	25	trade	trade	NOUN
fbem-30759	42	26	deficits	deficit	NOUN
fbem-30759	42	27	may	may	AUX
fbem-30759	42	28	exert	exert	VERB
fbem-30759	42	29	certain	certain	ADJ
fbem-30759	42	30	pressure	pressure	NOUN
fbem-30759	42	31	on	on	ADP
fbem-30759	42	32	economic	economic	ADJ
fbem-30759	42	33	fluctuations	fluctuation	NOUN
fbem-30759	42	34	[	[	X
fbem-30759	42	35	3	3	NUM
fbem-30759	42	36	]	]	PUNCT
fbem-30759	42	37	.	.	PUNCT
fbem-30759	43	1	foreign	foreign	ADJ
fbem-30759	43	2	direct	direct	ADJ
fbem-30759	43	3	investment	investment	NOUN
fbem-30759	43	4	(	(	PUNCT
fbem-30759	43	5	fdi	fdi	NOUN
fbem-30759	43	6	)	)	PUNCT
fbem-30759	43	7	foreign	foreign	ADJ
fbem-30759	43	8	direct	direct	ADJ
fbem-30759	43	9	investment	investment	NOUN
fbem-30759	43	10	is	be	AUX
fbem-30759	43	11	one	one	NUM
fbem-30759	43	12	of	of	ADP
fbem-30759	43	13	the	the	DET
fbem-30759	43	14	important	important	ADJ
fbem-30759	43	15	factors	factor	NOUN
fbem-30759	43	16	in	in	ADP
fbem-30759	43	17	the	the	DET
fbem-30759	43	18	external	external	ADJ
fbem-30759	43	19	environment	environment	NOUN
fbem-30759	43	20	.	.	PUNCT
fbem-30759	44	1	it	it	PRON
fbem-30759	44	2	not	not	PART
fbem-30759	44	3	only	only	ADV
fbem-30759	44	4	affects	affect	VERB
fbem-30759	44	5	china	china	PROPN
fbem-30759	44	6	's	's	PART
fbem-30759	44	7	economic	economic	ADJ
fbem-30759	44	8	growth	growth	NOUN
fbem-30759	44	9	and	and	CCONJ
fbem-30759	44	10	industrial	industrial	ADJ
fbem-30759	44	11	restructuring	restructuring	NOUN
fbem-30759	44	12	,	,	PUNCT
fbem-30759	44	13	but	but	CCONJ
fbem-30759	44	14	also	also	ADV
fbem-30759	44	15	has	have	VERB
fbem-30759	44	16	a	a	DET
fbem-30759	44	17	certain	certain	ADJ
fbem-30759	44	18	degree	degree	NOUN
fbem-30759	44	19	of	of	ADP
fbem-30759	44	20	impact	impact	NOUN
fbem-30759	44	21	on	on	ADP
fbem-30759	44	22	economic	economic	ADJ
fbem-30759	44	23	fluctuations	fluctuation	NOUN
fbem-30759	44	24	.	.	PUNCT
fbem-30759	45	1	the	the	DET
fbem-30759	45	2	mechanism	mechanism	NOUN
fbem-30759	45	3	through	through	ADP
fbem-30759	45	4	which	which	PRON
fbem-30759	45	5	fdi	fdi	NOUN
fbem-30759	45	6	affects	affect	VERB
fbem-30759	45	7	economic	economic	ADJ
fbem-30759	45	8	fluctuations	fluctuation	NOUN
fbem-30759	45	9	includes	include	VERB
fbem-30759	45	10	its	its	PRON
fbem-30759	45	11	impact	impact	NOUN
fbem-30759	45	12	on	on	ADP
fbem-30759	45	13	capital	capital	NOUN
fbem-30759	45	14	flows	flow	NOUN
fbem-30759	45	15	and	and	CCONJ
fbem-30759	45	16	exchange	exchange	NOUN
fbem-30759	45	17	rate	rate	NOUN
fbem-30759	45	18	expectations	expectation	NOUN
fbem-30759	45	19	[	[	X
fbem-30759	45	20	4	4	NUM
fbem-30759	45	21	]	]	PUNCT
fbem-30759	45	22	.	.	PUNCT
fbem-30759	46	1	large	large	ADJ
fbem-30759	46	2	-	-	PUNCT
fbem-30759	46	3	scale	scale	NOUN
fbem-30759	46	4	foreign	foreign	ADJ
fbem-30759	46	5	direct	direct	ADJ
fbem-30759	46	6	investment	investment	NOUN
fbem-30759	46	7	may	may	AUX
fbem-30759	46	8	lead	lead	VERB
fbem-30759	46	9	to	to	ADP
fbem-30759	46	10	rmb	rmb	NOUN
fbem-30759	46	11	appreciation	appreciation	NOUN
fbem-30759	46	12	,	,	PUNCT
fbem-30759	46	13	as	as	SCONJ
fbem-30759	46	14	capital	capital	NOUN
fbem-30759	46	15	inflows	inflow	NOUN
fbem-30759	46	16	increase	increase	VERB
fbem-30759	46	17	the	the	DET
fbem-30759	46	18	demand	demand	NOUN
fbem-30759	46	19	for	for	ADP
fbem-30759	46	20	rmb	rmb	NOUN
fbem-30759	46	21	,	,	PUNCT
fbem-30759	46	22	thereby	thereby	ADV
fbem-30759	46	23	pushing	push	VERB
fbem-30759	46	24	up	up	ADP
fbem-30759	46	25	the	the	DET
fbem-30759	46	26	exchange	exchange	NOUN
fbem-30759	46	27	rate	rate	NOUN
fbem-30759	46	28	.	.	PUNCT
fbem-30759	47	1	we	we	PRON
fbem-30759	47	2	will	will	AUX
fbem-30759	47	3	study	study	VERB
fbem-30759	47	4	the	the	DET
fbem-30759	47	5	impact	impact	NOUN
fbem-30759	47	6	of	of	ADP
fbem-30759	47	7	fdi	fdi	NOUN
fbem-30759	47	8	on	on	ADP
fbem-30759	47	9	exchange	exchange	NOUN
fbem-30759	47	10	rates	rate	NOUN
fbem-30759	47	11	,	,	PUNCT
fbem-30759	47	12	including	include	VERB
fbem-30759	47	13	the	the	DET
fbem-30759	47	14	correlation	correlation	NOUN
fbem-30759	47	15	between	between	ADP
fbem-30759	47	16	capital	capital	NOUN
fbem-30759	47	17	inflows	inflow	NOUN
fbem-30759	47	18	and	and	CCONJ
fbem-30759	47	19	exchange	exchange	NOUN
fbem-30759	47	20	rate	rate	NOUN
fbem-30759	47	21	fluctuations	fluctuation	NOUN
fbem-30759	47	22	,	,	PUNCT
fbem-30759	47	23	as	as	ADV
fbem-30759	47	24	well	well	ADV
fbem-30759	47	25	as	as	ADP
fbem-30759	47	26	the	the	DET
fbem-30759	47	27	relationship	relationship	NOUN
fbem-30759	47	28	between	between	ADP
fbem-30759	47	29	the	the	DET
fbem-30759	47	30	scale	scale	NOUN
fbem-30759	47	31	of	of	ADP
fbem-30759	47	32	fdi	fdi	NOUN
fbem-30759	47	33	and	and	CCONJ
fbem-30759	47	34	exchange	exchange	NOUN
fbem-30759	47	35	rate	rate	NOUN
fbem-30759	47	36	fluctuations	fluctuation	NOUN
fbem-30759	47	37	.	.	PUNCT
fbem-30759	48	1	as	as	ADP
fbem-30759	48	2	a	a	DET
fbem-30759	48	3	form	form	NOUN
fbem-30759	48	4	of	of	ADP
fbem-30759	48	5	capital	capital	NOUN
fbem-30759	48	6	inflow	inflow	NOUN
fbem-30759	48	7	,	,	PUNCT
fbem-30759	48	8	fdi	fdi	NOUN
fbem-30759	48	9	increases	increase	VERB
fbem-30759	48	10	demand	demand	NOUN
fbem-30759	48	11	for	for	ADP
fbem-30759	48	12	domestic	domestic	ADJ
fbem-30759	48	13	currency	currency	NOUN
fbem-30759	48	14	,	,	PUNCT
fbem-30759	48	15	which	which	PRON
fbem-30759	48	16	may	may	AUX
fbem-30759	48	17	lead	lead	VERB
fbem-30759	48	18	to	to	ADP
fbem-30759	48	19	currency	currency	NOUN
fbem-30759	48	20	appreciation	appreciation	NOUN
fbem-30759	48	21	.	.	PUNCT
fbem-30759	49	1	in	in	ADP
fbem-30759	49	2	some	some	DET
fbem-30759	49	3	cases	case	NOUN
fbem-30759	49	4	,	,	PUNCT
fbem-30759	49	5	fdi	fdi	NOUN
fbem-30759	49	6	inflows	inflow	NOUN
fbem-30759	49	7	may	may	AUX
fbem-30759	49	8	bring	bring	VERB
fbem-30759	49	9	about	about	ADP
fbem-30759	49	10	increased	increase	VERB
fbem-30759	49	11	exports	export	NOUN
fbem-30759	49	12	(	(	PUNCT
fbem-30759	49	13	for	for	ADP
fbem-30759	49	14	example	example	NOUN
fbem-30759	49	15	,	,	PUNCT
fbem-30759	49	16	when	when	SCONJ
fbem-30759	49	17	foreign	foreign	ADJ
fbem-30759	49	18	companies	company	NOUN
fbem-30759	49	19	produce	produce	VERB
fbem-30759	49	20	goods	good	NOUN
fbem-30759	49	21	in	in	ADP
fbem-30759	49	22	china	china	PROPN
fbem-30759	49	23	and	and	CCONJ
fbem-30759	49	24	export	export	VERB
fbem-30759	49	25	them	they	PRON
fbem-30759	49	26	)	)	PUNCT
fbem-30759	49	27	,	,	PUNCT
fbem-30759	49	28	which	which	PRON
fbem-30759	49	29	may	may	AUX
fbem-30759	49	30	further	far	ADV
fbem-30759	49	31	strengthen	strengthen	VERB
fbem-30759	49	32	the	the	DET
fbem-30759	49	33	trend	trend	NOUN
fbem-30759	49	34	of	of	ADP
fbem-30759	49	35	currency	currency	NOUN
fbem-30759	49	36	appreciation	appreciation	NOUN
fbem-30759	49	37	.	.	PUNCT
fbem-30759	50	1	however	however	ADV
fbem-30759	50	2	,	,	PUNCT
fbem-30759	50	3	if	if	SCONJ
fbem-30759	50	4	fdi	fdi	NOUN
fbem-30759	50	5	is	be	AUX
fbem-30759	50	6	mainly	mainly	ADV
fbem-30759	50	7	concentrated	concentrate	VERB
fbem-30759	50	8	in	in	ADP
fbem-30759	50	9	service	service	NOUN
fbem-30759	50	10	industries	industry	NOUN
fbem-30759	50	11	or	or	CCONJ
fbem-30759	50	12	industries	industry	NOUN
fbem-30759	50	13	that	that	PRON
fbem-30759	50	14	do	do	AUX
fbem-30759	50	15	not	not	PART
fbem-30759	50	16	involve	involve	VERB
fbem-30759	50	17	significant	significant	ADJ
fbem-30759	50	18	exports	export	NOUN
fbem-30759	50	19	,	,	PUNCT
fbem-30759	50	20	this	this	DET
fbem-30759	50	21	balancing	balancing	NOUN
fbem-30759	50	22	effect	effect	NOUN
fbem-30759	50	23	may	may	AUX
fbem-30759	50	24	be	be	AUX
fbem-30759	50	25	less	less	ADV
fbem-30759	50	26	obvious	obvious	ADJ
fbem-30759	50	27	[	[	X
fbem-30759	50	28	5	5	NUM
fbem-30759	50	29	]	]	PUNCT
fbem-30759	50	30	.	.	PUNCT
fbem-30759	51	1	volatility	volatility	NOUN
fbem-30759	51	2	in	in	ADP
fbem-30759	51	3	international	international	ADJ
fbem-30759	51	4	financial	financial	ADJ
fbem-30759	51	5	markets	market	NOUN
fbem-30759	51	6	volatility	volatility	NOUN
fbem-30759	51	7	in	in	ADP
fbem-30759	51	8	international	international	ADJ
fbem-30759	51	9	financial	financial	ADJ
fbem-30759	51	10	markets	market	NOUN
fbem-30759	51	11	also	also	ADV
fbem-30759	51	12	has	have	VERB
fbem-30759	51	13	a	a	DET
fbem-30759	51	14	significant	significant	ADJ
fbem-30759	51	15	impact	impact	NOUN
fbem-30759	51	16	on	on	ADP
fbem-30759	51	17	china	china	PROPN
fbem-30759	51	18	's	's	PART
fbem-30759	51	19	exchange	exchange	NOUN
fbem-30759	51	20	rate	rate	NOUN
fbem-30759	51	21	.	.	PUNCT
fbem-30759	52	1	among	among	ADP
fbem-30759	52	2	these	these	DET
fbem-30759	52	3	factors	factor	NOUN
fbem-30759	52	4	,	,	PUNCT
fbem-30759	52	5	fluctuations	fluctuation	NOUN
fbem-30759	52	6	in	in	ADP
fbem-30759	52	7	major	major	ADJ
fbem-30759	52	8	international	international	ADJ
fbem-30759	52	9	currencies	currency	NOUN
fbem-30759	52	10	,	,	PUNCT
fbem-30759	52	11	changes	change	NOUN
fbem-30759	52	12	in	in	ADP
fbem-30759	52	13	risk	risk	NOUN
fbem-30759	52	14	preferences	preference	NOUN
fbem-30759	52	15	in	in	ADP
fbem-30759	52	16	international	international	ADJ
fbem-30759	52	17	financial	financial	ADJ
fbem-30759	52	18	markets	market	NOUN
fbem-30759	52	19	,	,	PUNCT
fbem-30759	52	20	and	and	CCONJ
fbem-30759	52	21	volatility	volatility	NOUN
fbem-30759	52	22	in	in	ADP
fbem-30759	52	23	international	international	ADJ
fbem-30759	52	24	commodity	commodity	NOUN
fbem-30759	52	25	prices	price	NOUN
fbem-30759	52	26	are	be	AUX
fbem-30759	52	27	particularly	particularly	ADV
fbem-30759	52	28	important	important	ADJ
fbem-30759	52	29	for	for	ADP
fbem-30759	52	30	economic	economic	ADJ
fbem-30759	52	31	fluctuations	fluctuation	NOUN
fbem-30759	52	32	.	.	PUNCT
fbem-30759	53	1	volatility	volatility	NOUN
fbem-30759	53	2	in	in	ADP
fbem-30759	53	3	international	international	ADJ
fbem-30759	53	4	financial	financial	ADJ
fbem-30759	53	5	markets	market	NOUN
fbem-30759	53	6	,	,	PUNCT
fbem-30759	53	7	such	such	ADJ
fbem-30759	53	8	as	as	ADP
fbem-30759	53	9	the	the	DET
fbem-30759	53	10	us	us	PROPN
fbem-30759	53	11	dollar	dollar	NOUN
fbem-30759	53	12	index	index	NOUN
fbem-30759	53	13	,	,	PUNCT
fbem-30759	53	14	the	the	DET
fbem-30759	53	15	eur	eur	ADJ
fbem-30759	53	16	/	/	SYM
fbem-30759	53	17	usd	usd	NOUN
fbem-30759	53	18	exchange	exchange	NOUN
fbem-30759	53	19	rate	rate	NOUN
fbem-30759	53	20	,	,	PUNCT
fbem-30759	53	21	and	and	CCONJ
fbem-30759	53	22	international	international	ADJ
fbem-30759	53	23	crude	crude	ADJ
fbem-30759	53	24	oil	oil	NOUN
fbem-30759	53	25	prices	price	NOUN
fbem-30759	53	26	,	,	PUNCT
fbem-30759	53	27	will	will	AUX
fbem-30759	53	28	directly	directly	ADV
fbem-30759	53	29	affect	affect	VERB
fbem-30759	53	30	exchange	exchange	NOUN
fbem-30759	53	31	rate	rate	NOUN
fbem-30759	53	32	fluctuations	fluctuation	NOUN
fbem-30759	53	33	.	.	PUNCT
fbem-30759	54	1	for	for	ADP
fbem-30759	54	2	example	example	NOUN
fbem-30759	54	3	,	,	PUNCT
fbem-30759	54	4	a	a	DET
fbem-30759	54	5	rise	rise	NOUN
fbem-30759	54	6	in	in	ADP
fbem-30759	54	7	the	the	DET
fbem-30759	54	8	us	us	PROPN
fbem-30759	54	9	dollar	dollar	NOUN
fbem-30759	54	10	index	index	NOUN
fbem-30759	54	11	may	may	AUX
fbem-30759	54	12	lead	lead	VERB
fbem-30759	54	13	to	to	ADP
fbem-30759	54	14	rmb	rmb	NOUN
fbem-30759	54	15	depreciation	depreciation	NOUN
fbem-30759	54	16	,	,	PUNCT
fbem-30759	54	17	as	as	SCONJ
fbem-30759	54	18	investors	investor	NOUN
fbem-30759	54	19	sell	sell	VERB
fbem-30759	54	20	rmb	rmb	PROPN
fbem-30759	54	21	to	to	PART
fbem-30759	54	22	buy	buy	VERB
fbem-30759	54	23	us	us	PROPN
fbem-30759	54	24	dollars	dollar	NOUN
fbem-30759	54	25	.	.	PUNCT
fbem-30759	55	1	2.1.2	2.1.2	X
fbem-30759	55	2	.	.	X
fbem-30759	55	3	impact	impact	NOUN
fbem-30759	55	4	of	of	ADP
fbem-30759	55	5	domestic	domestic	ADJ
fbem-30759	55	6	economic	economic	ADJ
fbem-30759	55	7	factors	factor	NOUN
fbem-30759	55	8	on	on	ADP
fbem-30759	55	9	exchange	exchange	NOUN
fbem-30759	55	10	rate	rate	NOUN
fbem-30759	55	11	fluctuations	fluctuation	NOUN
fbem-30759	55	12	(	(	PUNCT
fbem-30759	55	13	1	1	X
fbem-30759	55	14	)	)	PUNCT
fbem-30759	55	15	trade	trade	NOUN
fbem-30759	55	16	conditions	condition	NOUN
fbem-30759	55	17	among	among	ADP
fbem-30759	55	18	domestic	domestic	ADJ
fbem-30759	55	19	economic	economic	ADJ
fbem-30759	55	20	factors	factor	NOUN
fbem-30759	55	21	,	,	PUNCT
fbem-30759	55	22	china	china	PROPN
fbem-30759	55	23	's	's	PART
fbem-30759	55	24	import	import	NOUN
fbem-30759	55	25	and	and	CCONJ
fbem-30759	55	26	export	export	NOUN
fbem-30759	55	27	trade	trade	NOUN
fbem-30759	55	28	conditions	condition	NOUN
fbem-30759	55	29	have	have	VERB
fbem-30759	55	30	a	a	DET
fbem-30759	55	31	significant	significant	ADJ
fbem-30759	55	32	impact	impact	NOUN
fbem-30759	55	33	on	on	ADP
fbem-30759	55	34	exchange	exchange	NOUN
fbem-30759	55	35	rate	rate	NOUN
fbem-30759	55	36	fluctuations	fluctuation	NOUN
fbem-30759	55	37	.	.	PUNCT
fbem-30759	56	1	we	we	PRON
fbem-30759	56	2	will	will	AUX
fbem-30759	56	3	analyze	analyze	VERB
fbem-30759	56	4	the	the	DET
fbem-30759	56	5	impact	impact	NOUN
fbem-30759	56	6	of	of	ADP
fbem-30759	56	7	the	the	DET
fbem-30759	56	8	scale	scale	NOUN
fbem-30759	56	9	and	and	CCONJ
fbem-30759	56	10	structure	structure	NOUN
fbem-30759	56	11	of	of	ADP
fbem-30759	56	12	exports	export	NOUN
fbem-30759	56	13	and	and	CCONJ
fbem-30759	56	14	imports	import	NOUN
fbem-30759	56	15	on	on	ADP
fbem-30759	56	16	economic	economic	ADJ
fbem-30759	56	17	fluctuations	fluctuation	NOUN
fbem-30759	56	18	,	,	PUNCT
fbem-30759	56	19	with	with	ADP
fbem-30759	56	20	particular	particular	ADJ
fbem-30759	56	21	attention	attention	NOUN
fbem-30759	56	22	to	to	ADP
fbem-30759	56	23	the	the	DET
fbem-30759	56	24	mechanism	mechanism	NOUN
fbem-30759	56	25	through	through	ADP
fbem-30759	56	26	which	which	PRON
fbem-30759	56	27	trade	trade	NOUN
fbem-30759	56	28	surpluses	surplus	NOUN
fbem-30759	56	29	or	or	CCONJ
fbem-30759	56	30	deficits	deficit	NOUN
fbem-30759	56	31	affect	affect	VERB
fbem-30759	56	32	exchange	exchange	NOUN
fbem-30759	56	33	rates	rate	NOUN
fbem-30759	56	34	.	.	PUNCT
fbem-30759	57	1	trade	trade	NOUN
fbem-30759	57	2	conditions	condition	NOUN
fbem-30759	57	3	have	have	VERB
fbem-30759	57	4	a	a	DET
fbem-30759	57	5	direct	direct	ADJ
fbem-30759	57	6	impact	impact	NOUN
fbem-30759	57	7	on	on	ADP
fbem-30759	57	8	economic	economic	ADJ
fbem-30759	57	9	fluctuations	fluctuation	NOUN
fbem-30759	57	10	.	.	PUNCT
fbem-30759	58	1	monetary	monetary	ADJ
fbem-30759	58	2	policy	policy	NOUN
fbem-30759	58	3	china	china	PROPN
fbem-30759	58	4	's	's	PART
fbem-30759	58	5	monetary	monetary	ADJ
fbem-30759	58	6	policy	policy	NOUN
fbem-30759	58	7	has	have	VERB
fbem-30759	58	8	a	a	DET
fbem-30759	58	9	direct	direct	ADJ
fbem-30759	58	10	impact	impact	NOUN
fbem-30759	58	11	on	on	ADP
fbem-30759	58	12	exchange	exchange	NOUN
fbem-30759	58	13	rate	rate	NOUN
fbem-30759	58	14	fluctuations	fluctuation	NOUN
fbem-30759	58	15	.	.	PUNCT
fbem-30759	59	1	we	we	PRON
fbem-30759	59	2	will	will	AUX
fbem-30759	59	3	analyze	analyze	VERB
fbem-30759	59	4	the	the	DET
fbem-30759	59	5	impact	impact	NOUN
fbem-30759	59	6	of	of	ADP
fbem-30759	59	7	the	the	DET
fbem-30759	59	8	people	people	NOUN
fbem-30759	59	9	's	's	PART
fbem-30759	59	10	bank	bank	PROPN
fbem-30759	59	11	of	of	ADP
fbem-30759	59	12	china	china	PROPN
fbem-30759	59	13	's	's	PART
fbem-30759	59	14	monetary	monetary	ADJ
fbem-30759	59	15	policy	policy	NOUN
fbem-30759	59	16	adjustments	adjustment	NOUN
fbem-30759	59	17	on	on	ADP
fbem-30759	59	18	economic	economic	ADJ
fbem-30759	59	19	fluctuations	fluctuation	NOUN
fbem-30759	59	20	,	,	PUNCT
fbem-30759	59	21	including	include	VERB
fbem-30759	59	22	the	the	DET
fbem-30759	59	23	impact	impact	NOUN
fbem-30759	59	24	of	of	ADP
fbem-30759	59	25	interest	interest	NOUN
fbem-30759	59	26	rate	rate	NOUN
fbem-30759	59	27	levels	level	NOUN
fbem-30759	59	28	,	,	PUNCT
fbem-30759	59	29	money	money	NOUN
fbem-30759	59	30	supply	supply	NOUN
fbem-30759	59	31	,	,	PUNCT
fbem-30759	59	32	and	and	CCONJ
fbem-30759	59	33	foreign	foreign	ADJ
fbem-30759	59	34	exchange	exchange	NOUN
fbem-30759	59	35	reserves	reserve	NOUN
fbem-30759	59	36	on	on	ADP
fbem-30759	59	37	exchange	exchange	NOUN
fbem-30759	59	38	rates	rate	NOUN
fbem-30759	59	39	.	.	PUNCT
fbem-30759	60	1	for	for	ADP
fbem-30759	60	2	example	example	NOUN
fbem-30759	60	3	,	,	PUNCT
fbem-30759	60	4	monetary	monetary	ADJ
fbem-30759	60	5	tightening	tightening	NOUN
fbem-30759	60	6	may	may	AUX
fbem-30759	60	7	lead	lead	VERB
fbem-30759	60	8	to	to	ADP
fbem-30759	60	9	rmb	rmb	NOUN
fbem-30759	60	10	appreciation	appreciation	NOUN
fbem-30759	60	11	,	,	PUNCT
fbem-30759	60	12	while	while	SCONJ
fbem-30759	60	13	monetary	monetary	ADJ
fbem-30759	60	14	easing	easing	NOUN
fbem-30759	60	15	may	may	AUX
fbem-30759	60	16	lead	lead	VERB
fbem-30759	60	17	to	to	ADP
fbem-30759	60	18	rmb	rmb	NOUN
fbem-30759	60	19	depreciation	depreciation	NOUN
fbem-30759	61	1	[	[	X
fbem-30759	61	2	6	6	NUM
fbem-30759	61	3	]	]	PUNCT
fbem-30759	61	4	.	.	PUNCT
fbem-30759	62	1	changes	change	NOUN
fbem-30759	62	2	in	in	ADP
fbem-30759	62	3	monetary	monetary	ADJ
fbem-30759	62	4	policy	policy	NOUN
fbem-30759	62	5	directly	directly	ADV
fbem-30759	62	6	affect	affect	VERB
fbem-30759	62	7	exchange	exchange	NOUN
fbem-30759	62	8	rates	rate	NOUN
fbem-30759	62	9	,	,	PUNCT
fbem-30759	62	10	mainly	mainly	ADV
fbem-30759	62	11	through	through	ADP
fbem-30759	62	12	the	the	DET
fbem-30759	62	13	following	follow	VERB
fbem-30759	62	14	channels	channel	NOUN
fbem-30759	62	15	:	:	PUNCT
fbem-30759	62	16	(	(	PUNCT
fbem-30759	62	17	a	a	X
fbem-30759	62	18	)	)	PUNCT
fbem-30759	62	19	interest	interest	NOUN
fbem-30759	62	20	rate	rate	NOUN
fbem-30759	62	21	adjustments	adjustment	NOUN
fbem-30759	62	22	:	:	PUNCT
fbem-30759	62	23	when	when	SCONJ
fbem-30759	62	24	the	the	DET
fbem-30759	62	25	central	central	ADJ
fbem-30759	62	26	bank	bank	NOUN
fbem-30759	62	27	raises	raise	VERB
fbem-30759	62	28	interest	interest	NOUN
fbem-30759	62	29	rates	rate	NOUN
fbem-30759	62	30	,	,	PUNCT
fbem-30759	62	31	foreign	foreign	ADJ
fbem-30759	62	32	capital	capital	NOUN
fbem-30759	62	33	tends	tend	VERB
fbem-30759	62	34	to	to	PART
fbem-30759	62	35	flow	flow	VERB
fbem-30759	62	36	into	into	ADP
fbem-30759	62	37	high	high	ADJ
fbem-30759	62	38	-	-	PUNCT
fbem-30759	62	39	interest	interest	NOUN
fbem-30759	62	40	assets	asset	NOUN
fbem-30759	62	41	,	,	PUNCT
fbem-30759	62	42	increasing	increase	VERB
fbem-30759	62	43	demand	demand	NOUN
fbem-30759	62	44	for	for	ADP
fbem-30759	62	45	the	the	DET
fbem-30759	62	46	currency	currency	NOUN
fbem-30759	62	47	and	and	CCONJ
fbem-30759	62	48	thus	thus	ADV
fbem-30759	62	49	pushing	push	VERB
fbem-30759	62	50	up	up	ADP
fbem-30759	62	51	its	its	PRON
fbem-30759	62	52	value	value	NOUN
fbem-30759	62	53	.	.	PUNCT
fbem-30759	63	1	conversely	conversely	ADV
fbem-30759	63	2	,	,	PUNCT
fbem-30759	63	3	if	if	SCONJ
fbem-30759	63	4	the	the	DET
fbem-30759	63	5	central	central	ADJ
fbem-30759	63	6	bank	bank	NOUN
fbem-30759	63	7	cuts	cut	VERB
fbem-30759	63	8	interest	interest	NOUN
fbem-30759	63	9	rates	rate	NOUN
fbem-30759	63	10	,	,	PUNCT
fbem-30759	63	11	it	it	PRON
fbem-30759	63	12	may	may	AUX
fbem-30759	63	13	reduce	reduce	VERB
fbem-30759	63	14	foreign	foreign	ADJ
fbem-30759	63	15	investment	investment	NOUN
fbem-30759	63	16	due	due	ADP
fbem-30759	63	17	to	to	ADP
fbem-30759	63	18	lower	low	ADJ
fbem-30759	63	19	returns	return	NOUN
fbem-30759	63	20	,	,	PUNCT
fbem-30759	63	21	potentially	potentially	ADV
fbem-30759	63	22	leading	lead	VERB
fbem-30759	63	23	to	to	ADP
fbem-30759	63	24	currency	currency	NOUN
fbem-30759	63	25	depreciation	depreciation	NOUN
fbem-30759	63	26	.	.	PUNCT
fbem-30759	64	1	(	(	PUNCT
fbem-30759	64	2	b	b	X
fbem-30759	64	3	)	)	PUNCT
fbem-30759	64	4	market	market	NOUN
fbem-30759	64	5	expectations	expectation	NOUN
fbem-30759	64	6	:	:	PUNCT
fbem-30759	64	7	market	market	NOUN
fbem-30759	64	8	expectations	expectation	NOUN
fbem-30759	64	9	of	of	ADP
fbem-30759	64	10	future	future	ADJ
fbem-30759	64	11	monetary	monetary	ADJ
fbem-30759	64	12	policy	policy	NOUN
fbem-30759	64	13	also	also	ADV
fbem-30759	64	14	affect	affect	VERB
fbem-30759	64	15	exchange	exchange	NOUN
fbem-30759	64	16	rates	rate	NOUN
fbem-30759	64	17	.	.	PUNCT
fbem-30759	65	1	if	if	SCONJ
fbem-30759	65	2	the	the	DET
fbem-30759	65	3	market	market	NOUN
fbem-30759	65	4	expects	expect	VERB
fbem-30759	65	5	the	the	DET
fbem-30759	65	6	central	central	ADJ
fbem-30759	65	7	bank	bank	NOUN
fbem-30759	65	8	to	to	PART
fbem-30759	65	9	tighten	tighten	VERB
fbem-30759	65	10	policy	policy	NOUN
fbem-30759	65	11	,	,	PUNCT
fbem-30759	65	12	it	it	PRON
fbem-30759	65	13	may	may	AUX
fbem-30759	65	14	drive	drive	VERB
fbem-30759	65	15	currency	currency	NOUN
fbem-30759	65	16	appreciation	appreciation	NOUN
fbem-30759	65	17	in	in	ADP
fbem-30759	65	18	advance	advance	NOUN
fbem-30759	65	19	.	.	PUNCT
fbem-30759	66	1	conversely	conversely	ADV
fbem-30759	66	2	,	,	PUNCT
fbem-30759	66	3	expectations	expectation	NOUN
fbem-30759	66	4	of	of	ADP
fbem-30759	66	5	future	future	ADJ
fbem-30759	66	6	easing	easing	NOUN
fbem-30759	66	7	may	may	AUX
fbem-30759	66	8	lead	lead	VERB
fbem-30759	66	9	to	to	ADP
fbem-30759	66	10	premature	premature	ADJ
fbem-30759	66	11	currency	currency	NOUN
fbem-30759	66	12	depreciation	depreciation	NOUN
fbem-30759	66	13	.	.	PUNCT
fbem-30759	67	1	(	(	PUNCT
fbem-30759	67	2	c	c	X
fbem-30759	67	3	)	)	PUNCT
fbem-30759	67	4	credit	credit	NOUN
fbem-30759	67	5	risk	risk	NOUN
fbem-30759	67	6	and	and	CCONJ
fbem-30759	67	7	investor	investor	NOUN
fbem-30759	67	8	sentiment	sentiment	NOUN
fbem-30759	67	9	:	:	PUNCT
fbem-30759	67	10	monetary	monetary	ADJ
fbem-30759	67	11	policy	policy	NOUN
fbem-30759	67	12	may	may	AUX
fbem-30759	67	13	affect	affect	VERB
fbem-30759	67	14	a	a	DET
fbem-30759	67	15	country	country	NOUN
fbem-30759	67	16	's	's	PART
fbem-30759	67	17	credit	credit	NOUN
fbem-30759	67	18	risk	risk	NOUN
fbem-30759	67	19	and	and	CCONJ
fbem-30759	67	20	investors	investor	NOUN
fbem-30759	67	21	'	'	PART
fbem-30759	67	22	risk	risk	NOUN
fbem-30759	67	23	appetite	appetite	NOUN
fbem-30759	67	24	.	.	PUNCT
fbem-30759	68	1	for	for	ADP
fbem-30759	68	2	example	example	NOUN
fbem-30759	68	3	,	,	PUNCT
fbem-30759	68	4	excessively	excessively	ADV
fbem-30759	68	5	loose	loose	ADJ
fbem-30759	68	6	monetary	monetary	ADJ
fbem-30759	68	7	policy	policy	NOUN
fbem-30759	68	8	may	may	AUX
fbem-30759	68	9	raise	raise	VERB
fbem-30759	68	10	inflation	inflation	NOUN
fbem-30759	68	11	concerns	concern	NOUN
fbem-30759	68	12	,	,	PUNCT
fbem-30759	68	13	increase	increase	VERB
fbem-30759	68	14	the	the	DET
fbem-30759	68	15	country	country	NOUN
fbem-30759	68	16	's	's	PART
fbem-30759	68	17	credit	credit	NOUN
fbem-30759	68	18	risk	risk	NOUN
fbem-30759	68	19	,	,	PUNCT
fbem-30759	68	20	and	and	CCONJ
fbem-30759	68	21	lead	lead	VERB
fbem-30759	68	22	to	to	ADP
fbem-30759	68	23	currency	currency	NOUN
fbem-30759	68	24	depreciation	depreciation	NOUN
fbem-30759	68	25	.	.	PUNCT
fbem-30759	69	1	on	on	ADP
fbem-30759	69	2	the	the	DET
fbem-30759	69	3	other	other	ADJ
fbem-30759	69	4	hand	hand	NOUN
fbem-30759	69	5	,	,	PUNCT
fbem-30759	69	6	prudent	prudent	ADJ
fbem-30759	69	7	monetary	monetary	ADJ
fbem-30759	69	8	policy	policy	NOUN
fbem-30759	69	9	may	may	AUX
fbem-30759	69	10	enhance	enhance	VERB
fbem-30759	69	11	investor	investor	NOUN
fbem-30759	69	12	confidence	confidence	NOUN
fbem-30759	69	13	in	in	ADP
fbem-30759	69	14	the	the	DET
fbem-30759	69	15	national	national	ADJ
fbem-30759	69	16	economy	economy	NOUN
fbem-30759	69	17	and	and	CCONJ
fbem-30759	69	18	promote	promote	VERB
fbem-30759	69	19	currency	currency	NOUN
fbem-30759	69	20	appreciation	appreciation	NOUN
fbem-30759	69	21	.	.	PUNCT
fbem-30759	70	1	(	(	PUNCT
fbem-30759	70	2	d	d	X
fbem-30759	70	3	)	)	PUNCT
fbem-30759	70	4	relative	relative	ADJ
fbem-30759	70	5	to	to	ADP
fbem-30759	70	6	other	other	ADJ
fbem-30759	70	7	countries	country	NOUN
fbem-30759	70	8	'	'	PART
fbem-30759	70	9	policies	policy	NOUN
fbem-30759	70	10	:	:	PUNCT
fbem-30759	70	11	exchange	exchange	NOUN
fbem-30759	70	12	rates	rate	NOUN
fbem-30759	70	13	are	be	AUX
fbem-30759	70	14	relative	relative	ADJ
fbem-30759	70	15	prices	price	NOUN
fbem-30759	70	16	,	,	PUNCT
fbem-30759	70	17	so	so	SCONJ
fbem-30759	70	18	a	a	DET
fbem-30759	70	19	country	country	NOUN
fbem-30759	70	20	's	's	PART
fbem-30759	70	21	monetary	monetary	ADJ
fbem-30759	70	22	policy	policy	NOUN
fbem-30759	70	23	must	must	AUX
fbem-30759	70	24	be	be	AUX
fbem-30759	70	25	compared	compare	VERB
fbem-30759	70	26	with	with	ADP
fbem-30759	70	27	those	those	PRON
fbem-30759	70	28	of	of	ADP
fbem-30759	70	29	its	its	PRON
fbem-30759	70	30	major	major	ADJ
fbem-30759	70	31	trading	trading	NOUN
fbem-30759	70	32	partners	partner	NOUN
fbem-30759	70	33	.	.	PUNCT
fbem-30759	71	1	if	if	SCONJ
fbem-30759	71	2	other	other	ADJ
fbem-30759	71	3	countries	country	NOUN
fbem-30759	71	4	simultaneously	simultaneously	ADV
fbem-30759	71	5	adopt	adopt	VERB
fbem-30759	71	6	loose	loose	ADJ
fbem-30759	71	7	policies	policy	NOUN
fbem-30759	71	8	,	,	PUNCT
fbem-30759	71	9	the	the	DET
fbem-30759	71	10	impact	impact	NOUN
fbem-30759	71	11	of	of	ADP
fbem-30759	71	12	a	a	DET
fbem-30759	71	13	single	single	ADJ
fbem-30759	71	14	country	country	NOUN
fbem-30759	71	15	's	's	PART
fbem-30759	71	16	loose	loose	ADJ
fbem-30759	71	17	policy	policy	NOUN
fbem-30759	71	18	on	on	ADP
fbem-30759	71	19	the	the	DET
fbem-30759	71	20	exchange	exchange	NOUN
fbem-30759	71	21	rate	rate	NOUN
fbem-30759	71	22	may	may	AUX
fbem-30759	71	23	be	be	AUX
fbem-30759	71	24	smaller	small	ADJ
fbem-30759	71	25	.	.	PUNCT
fbem-30759	72	1	economic	economic	ADJ
fbem-30759	72	2	policies	policy	NOUN
fbem-30759	72	3	among	among	ADP
fbem-30759	72	4	domestic	domestic	ADJ
fbem-30759	72	5	economic	economic	ADJ
fbem-30759	72	6	factors	factor	NOUN
fbem-30759	72	7	,	,	PUNCT
fbem-30759	72	8	macroeconomic	macroeconomic	ADJ
fbem-30759	72	9	policies	policy	NOUN
fbem-30759	72	10	also	also	ADV
fbem-30759	72	11	have	have	VERB
fbem-30759	72	12	a	a	DET
fbem-30759	72	13	significant	significant	ADJ
fbem-30759	72	14	impact	impact	NOUN
fbem-30759	72	15	on	on	ADP
fbem-30759	72	16	exchange	exchange	NOUN
fbem-30759	72	17	rate	rate	NOUN
fbem-30759	72	18	fluctuations	fluctuation	NOUN
fbem-30759	72	19	.	.	PUNCT
fbem-30759	73	1	we	we	PRON
fbem-30759	73	2	will	will	AUX
fbem-30759	73	3	analyze	analyze	VERB
fbem-30759	73	4	the	the	DET
fbem-30759	73	5	impact	impact	NOUN
fbem-30759	73	6	of	of	ADP
fbem-30759	73	7	china	china	PROPN
fbem-30759	73	8	's	's	PART
fbem-30759	73	9	macroeconomic	macroeconomic	ADJ
fbem-30759	73	10	regulation	regulation	NOUN
fbem-30759	73	11	policies	policy	NOUN
fbem-30759	73	12	on	on	ADP
fbem-30759	73	13	economic	economic	ADJ
fbem-30759	73	14	fluctuations	fluctuation	NOUN
fbem-30759	73	15	,	,	PUNCT
fbem-30759	73	16	including	include	VERB
fbem-30759	73	17	the	the	DET
fbem-30759	73	18	potential	potential	ADJ
fbem-30759	73	19	impact	impact	NOUN
fbem-30759	73	20	of	of	ADP
fbem-30759	73	21	fiscal	fiscal	ADJ
fbem-30759	73	22	policies	policy	NOUN
fbem-30759	73	23	and	and	CCONJ
fbem-30759	73	24	industrial	industrial	ADJ
fbem-30759	73	25	policies	policy	NOUN
fbem-30759	73	26	on	on	ADP
fbem-30759	73	27	exchange	exchange	NOUN
fbem-30759	73	28	rates	rate	NOUN
fbem-30759	73	29	[	[	X
fbem-30759	73	30	7	7	NUM
fbem-30759	73	31	]	]	PUNCT
fbem-30759	73	32	.	.	PUNCT
fbem-30759	74	1	macroeconomic	macroeconomic	ADJ
fbem-30759	74	2	policies	policy	NOUN
fbem-30759	74	3	also	also	ADV
fbem-30759	74	4	have	have	VERB
fbem-30759	74	5	an	an	DET
fbem-30759	74	6	important	important	ADJ
fbem-30759	74	7	impact	impact	NOUN
fbem-30759	74	8	on	on	ADP
fbem-30759	74	9	exchange	exchange	NOUN
fbem-30759	74	10	rate	rate	NOUN
fbem-30759	74	11	fluctuations	fluctuation	NOUN
fbem-30759	74	12	.	.	PUNCT
fbem-30759	75	1	the	the	DET
fbem-30759	75	2	regulation	regulation	NOUN
fbem-30759	75	3	of	of	ADP
fbem-30759	75	4	fiscal	fiscal	ADJ
fbem-30759	75	5	policies	policy	NOUN
fbem-30759	75	6	and	and	CCONJ
fbem-30759	75	7	industrial	industrial	ADJ
fbem-30759	75	8	policies	policy	NOUN
fbem-30759	75	9	will	will	AUX
fbem-30759	75	10	affect	affect	VERB
fbem-30759	75	11	exchange	exchange	NOUN
fbem-30759	75	12	rate	rate	NOUN
fbem-30759	75	13	fluctuations	fluctuation	NOUN
fbem-30759	75	14	[	[	X
fbem-30759	75	15	8	8	NUM
fbem-30759	75	16	]	]	PUNCT
fbem-30759	75	17	.	.	PUNCT
fbem-30759	76	1	for	for	ADP
fbem-30759	76	2	example	example	NOUN
fbem-30759	76	3	,	,	PUNCT
fbem-30759	76	4	expansionary	expansionary	ADJ
fbem-30759	76	5	fiscal	fiscal	ADJ
fbem-30759	76	6	policies	policy	NOUN
fbem-30759	76	7	may	may	AUX
fbem-30759	76	8	lead	lead	VERB
fbem-30759	76	9	to	to	ADP
fbem-30759	76	10	rmb	rmb	NOUN
fbem-30759	76	11	depreciation	depreciation	NOUN
fbem-30759	76	12	,	,	PUNCT
fbem-30759	76	13	while	while	SCONJ
fbem-30759	76	14	adjustments	adjustment	NOUN
fbem-30759	76	15	to	to	ADP
fbem-30759	76	16	industrial	industrial	ADJ
fbem-30759	76	17	policies	policy	NOUN
fbem-30759	76	18	may	may	AUX
fbem-30759	76	19	have	have	VERB
fbem-30759	76	20	an	an	DET
fbem-30759	76	21	appreciation	appreciation	NOUN
fbem-30759	76	22	or	or	CCONJ
fbem-30759	76	23	depreciation	depreciation	NOUN
fbem-30759	76	24	effect	effect	NOUN
fbem-30759	76	25	on	on	ADP
fbem-30759	76	26	the	the	DET
fbem-30759	76	27	rmb	rmb	NOUN
fbem-30759	76	28	.	.	PUNCT
fbem-30759	77	1	when	when	SCONJ
fbem-30759	77	2	analyzing	analyze	VERB
fbem-30759	77	3	the	the	DET
fbem-30759	77	4	correlation	correlation	NOUN
fbem-30759	77	5	between	between	ADP
fbem-30759	77	6	monetary	monetary	ADJ
fbem-30759	77	7	policy	policy	NOUN
fbem-30759	77	8	and	and	CCONJ
fbem-30759	77	9	exchange	exchange	NOUN
fbem-30759	77	10	rates	rate	NOUN
fbem-30759	77	11	,	,	PUNCT
fbem-30759	77	12	it	it	PRON
fbem-30759	77	13	is	be	AUX
fbem-30759	77	14	necessary	necessary	ADJ
fbem-30759	77	15	to	to	PART
fbem-30759	77	16	consider	consider	VERB
fbem-30759	77	17	the	the	DET
fbem-30759	77	18	impact	impact	NOUN
fbem-30759	77	19	of	of	ADP
fbem-30759	77	20	the	the	DET
fbem-30759	77	21	above	above	ADJ
fbem-30759	77	22	channels	channel	NOUN
fbem-30759	77	23	and	and	CCONJ
fbem-30759	77	24	their	their	PRON
fbem-30759	77	25	interactions	interaction	NOUN
fbem-30759	77	26	.	.	PUNCT
fbem-30759	78	1	in	in	ADP
fbem-30759	78	2	addition	addition	NOUN
fbem-30759	78	3	,	,	PUNCT
fbem-30759	78	4	it	it	PRON
fbem-30759	78	5	should	should	AUX
fbem-30759	78	6	be	be	AUX
fbem-30759	78	7	noted	note	VERB
fbem-30759	78	8	that	that	SCONJ
fbem-30759	78	9	exchange	exchange	NOUN
fbem-30759	78	10	rates	rate	NOUN
fbem-30759	78	11	are	be	AUX
fbem-30759	78	12	affected	affect	VERB
fbem-30759	78	13	by	by	ADP
fbem-30759	78	14	various	various	ADJ
fbem-30759	78	15	factors	factor	NOUN
fbem-30759	78	16	such	such	ADJ
fbem-30759	78	17	as	as	ADP
fbem-30759	78	18	the	the	DET
fbem-30759	78	19	global	global	ADJ
fbem-30759	78	20	economic	economic	ADJ
fbem-30759	78	21	environment	environment	NOUN
fbem-30759	78	22	,	,	PUNCT
fbem-30759	78	23	political	political	ADJ
fbem-30759	78	24	events	event	NOUN
fbem-30759	78	25	,	,	PUNCT
fbem-30759	78	26	and	and	CCONJ
fbem-30759	78	27	natural	natural	ADJ
fbem-30759	78	28	disasters	disaster	NOUN
fbem-30759	78	29	.	.	PUNCT
fbem-30759	79	1	monetary	monetary	ADJ
fbem-30759	79	2	policy	policy	NOUN
fbem-30759	79	3	is	be	AUX
fbem-30759	79	4	only	only	ADV
fbem-30759	79	5	one	one	NUM
fbem-30759	79	6	of	of	ADP
fbem-30759	79	7	these	these	DET
fbem-30759	79	8	factors	factor	NOUN
fbem-30759	79	9	.	.	PUNCT
fbem-30759	80	1	therefore	therefore	ADV
fbem-30759	80	2	,	,	PUNCT
fbem-30759	80	3	the	the	DET
fbem-30759	80	4	analysis	analysis	NOUN
fbem-30759	80	5	of	of	ADP
fbem-30759	80	6	exchange	exchange	NOUN
fbem-30759	80	7	rate	rate	NOUN
fbem-30759	80	8	84	84	NUM
fbem-30759	80	9	fluctuations	fluctuation	NOUN
fbem-30759	80	10	should	should	AUX
fbem-30759	80	11	be	be	AUX
fbem-30759	80	12	comprehensive	comprehensive	ADJ
fbem-30759	80	13	,	,	PUNCT
fbem-30759	80	14	taking	take	VERB
fbem-30759	80	15	into	into	ADP
fbem-30759	80	16	account	account	NOUN
fbem-30759	80	17	all	all	DET
fbem-30759	80	18	possible	possible	ADJ
fbem-30759	80	19	influencing	influence	VERB
fbem-30759	80	20	factors	factor	NOUN
fbem-30759	80	21	.	.	PUNCT
fbem-30759	81	1	3	3	X
fbem-30759	81	2	.	.	X
fbem-30759	81	3	empirical	empirical	ADJ
fbem-30759	81	4	analysis	analysis	NOUN
fbem-30759	81	5	of	of	ADP
fbem-30759	81	6	china	china	PROPN
fbem-30759	81	7	's	's	PART
fbem-30759	81	8	economic	economic	ADJ
fbem-30759	81	9	fluctuations	fluctuation	NOUN
fbem-30759	81	10	and	and	CCONJ
fbem-30759	81	11	exchange	exchange	NOUN
fbem-30759	81	12	rate	rate	NOUN
fbem-30759	81	13	movements	movement	NOUN
fbem-30759	81	14	3.1	3.1	NUM
fbem-30759	81	15	.	.	PUNCT
fbem-30759	82	1	variable	variable	ADJ
fbem-30759	82	2	selection	selection	NOUN
fbem-30759	82	3	and	and	CCONJ
fbem-30759	82	4	data	datum	NOUN
fbem-30759	82	5	sources	source	NOUN
fbem-30759	82	6	3.1.1	3.1.1	NUM
fbem-30759	82	7	.	.	PUNCT
fbem-30759	83	1	data	datum	NOUN
fbem-30759	83	2	description	description	NOUN
fbem-30759	83	3	based	base	VERB
fbem-30759	83	4	on	on	ADP
fbem-30759	83	5	theoretical	theoretical	ADJ
fbem-30759	83	6	analysis	analysis	NOUN
fbem-30759	83	7	,	,	PUNCT
fbem-30759	83	8	this	this	DET
fbem-30759	83	9	paper	paper	NOUN
fbem-30759	83	10	selects	select	VERB
fbem-30759	83	11	the	the	DET
fbem-30759	83	12	following	follow	VERB
fbem-30759	83	13	five	five	NUM
fbem-30759	83	14	main	main	ADJ
fbem-30759	83	15	factors	factor	NOUN
fbem-30759	83	16	affecting	affect	VERB
fbem-30759	83	17	exchange	exchange	NOUN
fbem-30759	83	18	rate	rate	NOUN
fbem-30759	83	19	movements	movement	NOUN
fbem-30759	83	20	as	as	ADP
fbem-30759	83	21	explanatory	explanatory	ADJ
fbem-30759	83	22	variables	variable	NOUN
fbem-30759	83	23	:	:	PUNCT
fbem-30759	83	24	net	net	ADJ
fbem-30759	83	25	export	export	NOUN
fbem-30759	83	26	volume	volume	NOUN
fbem-30759	83	27	(	(	PUNCT
fbem-30759	83	28	x1	x1	PROPN
fbem-30759	83	29	)	)	PUNCT
fbem-30759	83	30	,	,	PUNCT
fbem-30759	83	31	gross	gross	ADJ
fbem-30759	83	32	domestic	domestic	ADJ
fbem-30759	83	33	product	product	NOUN
fbem-30759	83	34	(	(	PUNCT
fbem-30759	83	35	x2	x2	PROPN
fbem-30759	83	36	)	)	PUNCT
fbem-30759	83	37	,	,	PUNCT
fbem-30759	83	38	money	money	NOUN
fbem-30759	83	39	supply	supply	NOUN
fbem-30759	83	40	(	(	PUNCT
fbem-30759	83	41	x3	x3	ADJ
fbem-30759	83	42	)	)	PUNCT
fbem-30759	83	43	,	,	PUNCT
fbem-30759	83	44	foreign	foreign	ADJ
fbem-30759	83	45	direct	direct	ADJ
fbem-30759	83	46	investment	investment	NOUN
fbem-30759	83	47	(	(	PUNCT
fbem-30759	83	48	x4	x4	PROPN
fbem-30759	83	49	)	)	PUNCT
fbem-30759	83	50	,	,	PUNCT
fbem-30759	83	51	and	and	CCONJ
fbem-30759	83	52	foreign	foreign	ADJ
fbem-30759	83	53	exchange	exchange	NOUN
fbem-30759	83	54	reserve	reserve	NOUN
fbem-30759	83	55	scale	scale	NOUN
fbem-30759	83	56	(	(	PUNCT
fbem-30759	83	57	x5	x5	PROPN
fbem-30759	83	58	)	)	PUNCT
fbem-30759	83	59	.	.	PUNCT
fbem-30759	84	1	the	the	DET
fbem-30759	84	2	rmb	rmb	PROPN
fbem-30759	84	3	/	/	SYM
fbem-30759	84	4	usd	usd	NOUN
fbem-30759	84	5	exchange	exchange	NOUN
fbem-30759	84	6	rate	rate	NOUN
fbem-30759	84	7	y	y	PROPN
fbem-30759	84	8	is	be	AUX
fbem-30759	84	9	selected	select	VERB
fbem-30759	84	10	as	as	ADP
fbem-30759	84	11	the	the	DET
fbem-30759	84	12	explained	explain	VERB
fbem-30759	84	13	variable	variable	NOUN
fbem-30759	84	14	.	.	PUNCT
fbem-30759	85	1	the	the	DET
fbem-30759	85	2	sample	sample	NOUN
fbem-30759	85	3	data	datum	NOUN
fbem-30759	85	4	are	be	AUX
fbem-30759	85	5	annual	annual	ADJ
fbem-30759	85	6	data	datum	NOUN
fbem-30759	85	7	from	from	ADP
fbem-30759	85	8	2000	2000	NUM
fbem-30759	85	9	to	to	ADP
fbem-30759	85	10	2022	2022	NUM
fbem-30759	85	11	,	,	PUNCT
fbem-30759	85	12	all	all	PRON
fbem-30759	85	13	sourced	source	VERB
fbem-30759	85	14	from	from	ADP
fbem-30759	85	15	the	the	DET
fbem-30759	85	16	national	national	PROPN
fbem-30759	85	17	bureau	bureau	PROPN
fbem-30759	85	18	of	of	ADP
fbem-30759	85	19	statistics	statistics	PROPN
fbem-30759	85	20	'	'	PART
fbem-30759	85	21	"	"	PUNCT
fbem-30759	85	22	china	china	PROPN
fbem-30759	85	23	statistical	statistical	ADJ
fbem-30759	85	24	yearbook	yearbook	NOUN
fbem-30759	85	25	"	"	PUNCT
fbem-30759	85	26	[	[	X
fbem-30759	85	27	12	12	NUM
fbem-30759	85	28	]	]	PUNCT
fbem-30759	85	29	.	.	PUNCT
fbem-30759	86	1	3.1.2	3.1.2	X
fbem-30759	86	2	.	.	PUNCT
fbem-30759	86	3	data	datum	NOUN
fbem-30759	86	4	processing	processing	NOUN
fbem-30759	86	5	due	due	ADP
fbem-30759	86	6	to	to	ADP
fbem-30759	86	7	unit	unit	NOUN
fbem-30759	86	8	differences	difference	NOUN
fbem-30759	86	9	among	among	ADP
fbem-30759	86	10	variables	variable	NOUN
fbem-30759	86	11	,	,	PUNCT
fbem-30759	86	12	this	this	DET
fbem-30759	86	13	study	study	NOUN
fbem-30759	86	14	adopts	adopt	VERB
fbem-30759	86	15	"	"	PUNCT
fbem-30759	86	16	100	100	NUM
fbem-30759	86	17	million	million	NUM
fbem-30759	86	18	usd	usd	NOUN
fbem-30759	86	19	"	"	PUNCT
fbem-30759	86	20	as	as	ADP
fbem-30759	86	21	the	the	DET
fbem-30759	86	22	unified	unified	ADJ
fbem-30759	86	23	unit	unit	NOUN
fbem-30759	86	24	.	.	PUNCT
fbem-30759	87	1	the	the	DET
fbem-30759	87	2	annual	annual	ADJ
fbem-30759	87	3	average	average	ADJ
fbem-30759	87	4	exchange	exchange	NOUN
fbem-30759	87	5	rate	rate	NOUN
fbem-30759	87	6	for	for	ADP
fbem-30759	87	7	each	each	DET
fbem-30759	87	8	year	year	NOUN
fbem-30759	87	9	is	be	AUX
fbem-30759	87	10	selected	select	VERB
fbem-30759	87	11	as	as	ADP
fbem-30759	87	12	the	the	DET
fbem-30759	87	13	explained	explain	VERB
fbem-30759	87	14	variable	variable	NOUN
fbem-30759	87	15	.	.	PUNCT
fbem-30759	88	1	3.2	3.2	NUM
fbem-30759	88	2	.	.	PUNCT
fbem-30759	88	3	model	model	NOUN
fbem-30759	88	4	construction	construction	NOUN
fbem-30759	88	5	since	since	SCONJ
fbem-30759	88	6	taking	take	VERB
fbem-30759	88	7	logarithms	logarithm	NOUN
fbem-30759	88	8	of	of	ADP
fbem-30759	88	9	time	time	NOUN
fbem-30759	88	10	series	series	PROPN
fbem-30759	88	11	can	can	AUX
fbem-30759	88	12	reduce	reduce	VERB
fbem-30759	88	13	variable	variable	ADJ
fbem-30759	88	14	scales	scale	NOUN
fbem-30759	88	15	and	and	CCONJ
fbem-30759	88	16	mitigate	mitigate	VERB
fbem-30759	88	17	heteroscedasticity	heteroscedasticity	NOUN
fbem-30759	88	18	effects	effect	NOUN
fbem-30759	88	19	,	,	PUNCT
fbem-30759	88	20	the	the	DET
fbem-30759	88	21	following	follow	VERB
fbem-30759	88	22	model	model	NOUN
fbem-30759	88	23	is	be	AUX
fbem-30759	88	24	established	establish	VERB
fbem-30759	88	25	:	:	PUNCT
fbem-30759	89	1	lny	lny	PROPN
fbem-30759	89	2	=	=	PUNCT
fbem-30759	89	3	c	c	PROPN
fbem-30759	89	4	+	+	CCONJ
fbem-30759	89	5	β₁lnx₁	β₁lnx₁	ADJ
fbem-30759	89	6	+	+	NUM
fbem-30759	89	7	β₂lnx₂	β₂lnx₂	ADP
fbem-30759	89	8	+	+	CCONJ
fbem-30759	89	9	β₃lnx₃	β₃lnx₃	PUNCT
fbem-30759	90	1	+	+	CCONJ
fbem-30759	90	2	β₄lnx₄	β₄lnx₄	PUNCT
fbem-30759	91	1	+	+	NUM
fbem-30759	91	2	β₅lnx₅	β₅lnx₅	SYM
fbem-30759	91	3	+	+	CCONJ
fbem-30759	91	4	δ	δ	PROPN
fbem-30759	91	5	(	(	PUNCT
fbem-30759	91	6	3.1	3.1	NUM
fbem-30759	91	7	)	)	PUNCT
fbem-30759	91	8	where	where	SCONJ
fbem-30759	91	9	:	:	PUNCT
fbem-30759	91	10	c	c	NOUN
fbem-30759	91	11	is	be	AUX
fbem-30759	91	12	the	the	DET
fbem-30759	91	13	constant	constant	ADJ
fbem-30759	91	14	term	term	NOUN
fbem-30759	91	15	,	,	PUNCT
fbem-30759	91	16	β₁-β₅	β₁-β₅	NOUN
fbem-30759	91	17	are	be	AUX
fbem-30759	91	18	parameters	parameter	NOUN
fbem-30759	91	19	to	to	PART
fbem-30759	91	20	be	be	AUX
fbem-30759	91	21	estimated	estimate	VERB
fbem-30759	91	22	,	,	PUNCT
fbem-30759	91	23	δ	δ	PROPN
fbem-30759	91	24	is	be	AUX
fbem-30759	91	25	the	the	DET
fbem-30759	91	26	error	error	NOUN
fbem-30759	91	27	term	term	NOUN
fbem-30759	91	28	3.3	3.3	NUM
fbem-30759	91	29	.	.	PUNCT
fbem-30759	92	1	correlation	correlation	NOUN
fbem-30759	92	2	analysis	analysis	NOUN
fbem-30759	92	3	of	of	ADP
fbem-30759	92	4	variables	variable	NOUN
fbem-30759	92	5	table	table	NOUN
fbem-30759	92	6	1	1	NUM
fbem-30759	92	7	.	.	PUNCT
fbem-30759	92	8	correlation	correlation	NOUN
fbem-30759	92	9	analysis	analysis	NOUN
fbem-30759	92	10	lny	lny	PROPN
fbem-30759	92	11	lnx1	lnx1	PROPN
fbem-30759	92	12	lnx2	lnx2	PROPN
fbem-30759	92	13	lnx3	lnx3	PROPN
fbem-30759	92	14	lnx4	lnx4	PROPN
fbem-30759	92	15	lnx5	lnx5	PROPN
fbem-30759	92	16	lny	lny	PROPN
fbem-30759	92	17	1.000000	1.000000	NUM
fbem-30759	92	18	-0.725433	-0.725433	X
fbem-30759	92	19	-0.838313	-0.838313	PROPN
fbem-30759	93	1	0.879534	0.879534	NUM
fbem-30759	93	2	-0.902682	-0.902682	NOUN
fbem-30759	93	3	-0.939077	-0.939077	PUNCT
fbem-30759	93	4	lnx1	lnx1	PROPN
fbem-30759	93	5	-0.725413	-0.725413	PROPN
fbem-30759	94	1	1.000000	1.000000	NUM
fbem-30759	94	2	0.872137	0.872137	NUM
fbem-30759	94	3	0.867424	0.867424	NUM
fbem-30759	94	4	0.812009	0.812009	NUM
fbem-30759	94	5	0.840531	0.840531	NUM
fbem-30759	94	6	lnx2	lnx2	ADJ
fbem-30759	94	7	-0.838313	-0.838313	NOUN
fbem-30759	94	8	0.872137	0.872137	NUM
fbem-30759	94	9	1.000000	1.000000	NUM
fbem-30759	94	10	0.995800	0.995800	NUM
fbem-30759	94	11	0.885898	0.885898	NUM
fbem-30759	94	12	0.840531	0.840531	NUM
fbem-30759	94	13	lnx3	lnx3	NOUN
fbem-30759	94	14	0.879534	0.879534	NUM
fbem-30759	94	15	0.867424	0.867424	NUM
fbem-30759	94	16	0.995800	0.995800	NUM
fbem-30759	94	17	1.000000	1.000000	NUM
fbem-30759	94	18	0.902240	0.902240	NUM
fbem-30759	94	19	0.939394	0.939394	NUM
fbem-30759	94	20	lnx4	lnx4	PROPN
fbem-30759	94	21	-0.902682	-0.902682	NOUN
fbem-30759	94	22	0.812009	0.812009	NUM
fbem-30759	94	23	0.885898	0.885898	NUM
fbem-30759	94	24	0.902240	0.902240	NUM
fbem-30759	94	25	1.000000	1.000000	NUM
fbem-30759	94	26	0.936018	0.936018	NUM
fbem-30759	94	27	lnx5	lnx5	PROPN
fbem-30759	94	28	-0.939077	-0.939077	NOUN
fbem-30759	94	29	0.840531	0.840531	NUM
fbem-30759	94	30	0.840531	0.840531	NUM
fbem-30759	94	31	0.939394	0.939394	NUM
fbem-30759	94	32	0.936018	0.936018	NUM
fbem-30759	94	33	1.000000	1.000000	NUM
fbem-30759	94	34	correlation	correlation	NOUN
fbem-30759	94	35	analysis	analysis	NOUN
fbem-30759	94	36	results	result	NOUN
fbem-30759	94	37	:	:	PUNCT
fbem-30759	94	38	the	the	DET
fbem-30759	94	39	table	table	NOUN
fbem-30759	94	40	presents	present	VERB
fbem-30759	94	41	the	the	DET
fbem-30759	94	42	correlation	correlation	NOUN
fbem-30759	94	43	analysis	analysis	NOUN
fbem-30759	94	44	between	between	ADP
fbem-30759	94	45	the	the	DET
fbem-30759	94	46	selected	select	VERB
fbem-30759	94	47	independent	independent	ADJ
fbem-30759	94	48	variables	variable	NOUN
fbem-30759	94	49	and	and	CCONJ
fbem-30759	94	50	the	the	DET
fbem-30759	94	51	dependent	dependent	ADJ
fbem-30759	94	52	variable	variable	NOUN
fbem-30759	94	53	.	.	PUNCT
fbem-30759	95	1	correlation	correlation	NOUN
fbem-30759	95	2	analysis	analysis	NOUN
fbem-30759	95	3	examines	examine	VERB
fbem-30759	95	4	the	the	DET
fbem-30759	95	5	relationships	relationship	NOUN
fbem-30759	95	6	between	between	ADP
fbem-30759	95	7	variables	variable	NOUN
fbem-30759	95	8	through	through	ADP
fbem-30759	95	9	correlation	correlation	NOUN
fbem-30759	95	10	coefficients	coefficient	NOUN
fbem-30759	95	11	.	.	PUNCT
fbem-30759	96	1	the	the	DET
fbem-30759	96	2	results	result	NOUN
fbem-30759	96	3	indicate	indicate	VERB
fbem-30759	96	4	:	:	PUNCT
fbem-30759	96	5	the	the	DET
fbem-30759	96	6	correlation	correlation	NOUN
fbem-30759	96	7	coefficient	coefficient	NOUN
fbem-30759	96	8	between	between	ADP
fbem-30759	96	9	lny	lny	PROPN
fbem-30759	96	10	and	and	CCONJ
fbem-30759	96	11	lnx1	lnx1	PROPN
fbem-30759	96	12	is	be	AUX
fbem-30759	96	13	-0.73	-0.73	ADJ
fbem-30759	96	14	,	,	PUNCT
fbem-30759	96	15	showing	show	VERB
fbem-30759	96	16	a	a	DET
fbem-30759	96	17	positive	positive	ADJ
fbem-30759	96	18	correlation	correlation	NOUN
fbem-30759	96	19	between	between	ADP
fbem-30759	96	20	total	total	ADJ
fbem-30759	96	21	net	net	ADJ
fbem-30759	96	22	exports	export	NOUN
fbem-30759	96	23	and	and	CCONJ
fbem-30759	96	24	the	the	DET
fbem-30759	96	25	exchange	exchange	NOUN
fbem-30759	96	26	rate	rate	NOUN
fbem-30759	96	27	;	;	PUNCT
fbem-30759	96	28	the	the	DET
fbem-30759	96	29	correlation	correlation	NOUN
fbem-30759	96	30	coefficient	coefficient	NOUN
fbem-30759	96	31	between	between	ADP
fbem-30759	96	32	lny	lny	PROPN
fbem-30759	96	33	and	and	CCONJ
fbem-30759	96	34	lnx2	lnx2	PROPN
fbem-30759	96	35	is	be	AUX
fbem-30759	96	36	-0.84	-0.84	NOUN
fbem-30759	96	37	,	,	PUNCT
fbem-30759	96	38	indicating	indicate	VERB
fbem-30759	96	39	a	a	DET
fbem-30759	96	40	positive	positive	ADJ
fbem-30759	96	41	correlation	correlation	NOUN
fbem-30759	96	42	between	between	ADP
fbem-30759	96	43	gdp	gdp	NOUN
fbem-30759	96	44	and	and	CCONJ
fbem-30759	96	45	the	the	DET
fbem-30759	96	46	exchange	exchange	NOUN
fbem-30759	96	47	rate	rate	NOUN
fbem-30759	96	48	;	;	PUNCT
fbem-30759	96	49	the	the	DET
fbem-30759	96	50	correlation	correlation	NOUN
fbem-30759	96	51	coefficient	coefficient	NOUN
fbem-30759	96	52	between	between	ADP
fbem-30759	96	53	lny	lny	PROPN
fbem-30759	96	54	and	and	CCONJ
fbem-30759	96	55	lnx3	lnx3	PROPN
fbem-30759	96	56	is	be	AUX
fbem-30759	96	57	0.88	0.88	NUM
fbem-30759	96	58	,	,	PUNCT
fbem-30759	96	59	demonstrating	demonstrate	VERB
fbem-30759	96	60	a	a	DET
fbem-30759	96	61	negative	negative	ADJ
fbem-30759	96	62	correlation	correlation	NOUN
fbem-30759	96	63	between	between	ADP
fbem-30759	96	64	money	money	NOUN
fbem-30759	96	65	supply	supply	NOUN
fbem-30759	96	66	and	and	CCONJ
fbem-30759	96	67	the	the	DET
fbem-30759	96	68	exchange	exchange	NOUN
fbem-30759	96	69	rate	rate	NOUN
fbem-30759	96	70	;	;	PUNCT
fbem-30759	96	71	the	the	DET
fbem-30759	96	72	correlation	correlation	NOUN
fbem-30759	96	73	coefficient	coefficient	NOUN
fbem-30759	96	74	between	between	ADP
fbem-30759	96	75	lny	lny	PROPN
fbem-30759	96	76	and	and	CCONJ
fbem-30759	96	77	lnx4	lnx4	PROPN
fbem-30759	96	78	is	be	AUX
fbem-30759	96	79	-0.90	-0.90	PRON
fbem-30759	96	80	,	,	PUNCT
fbem-30759	96	81	revealing	reveal	VERB
fbem-30759	96	82	a	a	DET
fbem-30759	96	83	positive	positive	ADJ
fbem-30759	96	84	correlation	correlation	NOUN
fbem-30759	96	85	between	between	ADP
fbem-30759	96	86	foreign	foreign	ADJ
fbem-30759	96	87	direct	direct	ADJ
fbem-30759	96	88	investment	investment	NOUN
fbem-30759	96	89	and	and	CCONJ
fbem-30759	96	90	the	the	DET
fbem-30759	96	91	exchange	exchange	NOUN
fbem-30759	96	92	rate	rate	NOUN
fbem-30759	96	93	;	;	PUNCT
fbem-30759	96	94	the	the	DET
fbem-30759	96	95	correlation	correlation	NOUN
fbem-30759	96	96	coefficient	coefficient	NOUN
fbem-30759	96	97	between	between	ADP
fbem-30759	96	98	lny	lny	PROPN
fbem-30759	96	99	and	and	CCONJ
fbem-30759	96	100	lnx5	lnx5	PROPN
fbem-30759	96	101	is	be	AUX
fbem-30759	96	102	-0.94	-0.94	NUM
fbem-30759	96	103	,	,	PUNCT
fbem-30759	96	104	suggesting	suggest	VERB
fbem-30759	96	105	a	a	DET
fbem-30759	96	106	positive	positive	ADJ
fbem-30759	96	107	correlation	correlation	NOUN
fbem-30759	96	108	between	between	ADP
fbem-30759	96	109	foreign	foreign	ADJ
fbem-30759	96	110	exchange	exchange	NOUN
fbem-30759	96	111	reserve	reserve	NOUN
fbem-30759	96	112	scale	scale	NOUN
fbem-30759	96	113	and	and	CCONJ
fbem-30759	96	114	the	the	DET
fbem-30759	96	115	exchange	exchange	NOUN
fbem-30759	96	116	rate	rate	NOUN
fbem-30759	96	117	.	.	PUNCT
fbem-30759	97	1	key	key	ADJ
fbem-30759	97	2	observations	observation	NOUN
fbem-30759	97	3	:	:	PUNCT
fbem-30759	97	4	the	the	DET
fbem-30759	97	5	correlation	correlation	NOUN
fbem-30759	97	6	coefficients	coefficient	VERB
fbem-30759	97	7	between	between	ADP
fbem-30759	97	8	lny	lny	PROPN
fbem-30759	97	9	and	and	CCONJ
fbem-30759	97	10	lnx4	lnx4	PROPN
fbem-30759	97	11	/	/	SYM
fbem-30759	97	12	lnx5	lnx5	PROPN
fbem-30759	97	13	exceed	exceed	VERB
fbem-30759	97	14	0.9	0.9	NUM
fbem-30759	97	15	,	,	PUNCT
fbem-30759	97	16	indicating	indicate	VERB
fbem-30759	97	17	strong	strong	ADJ
fbem-30759	97	18	correlations	correlation	NOUN
fbem-30759	97	19	;	;	PUNCT
fbem-30759	97	20	the	the	DET
fbem-30759	97	21	correlations	correlation	NOUN
fbem-30759	97	22	between	between	ADP
fbem-30759	97	23	lny	lny	PROPN
fbem-30759	97	24	and	and	CCONJ
fbem-30759	97	25	lnx1	lnx1	PROPN
fbem-30759	97	26	/	/	SYM
fbem-30759	97	27	lnx2	lnx2	PROPN
fbem-30759	97	28	/	/	SYM
fbem-30759	97	29	lnx3	lnx3	PROPN
fbem-30759	97	30	are	be	AUX
fbem-30759	97	31	also	also	ADV
fbem-30759	97	32	relatively	relatively	ADV
fbem-30759	97	33	strong	strong	ADJ
fbem-30759	97	34	.	.	PUNCT
fbem-30759	98	1	3.4	3.4	NUM
fbem-30759	98	2	.	.	PUNCT
fbem-30759	98	3	var	var	PROPN
fbem-30759	98	4	model	model	PROPN
fbem-30759	98	5	this	this	DET
fbem-30759	98	6	study	study	NOUN
fbem-30759	98	7	employs	employ	VERB
fbem-30759	98	8	a	a	DET
fbem-30759	98	9	var	var	NOUN
fbem-30759	98	10	model	model	NOUN
fbem-30759	98	11	to	to	PART
fbem-30759	98	12	analyze	analyze	VERB
fbem-30759	98	13	the	the	DET
fbem-30759	98	14	influencing	influence	VERB
fbem-30759	98	15	factors	factor	NOUN
fbem-30759	98	16	of	of	ADP
fbem-30759	98	17	rmb	rmb	NOUN
fbem-30759	98	18	exchange	exchange	NOUN
fbem-30759	98	19	rate	rate	NOUN
fbem-30759	98	20	movements	movement	NOUN
fbem-30759	98	21	.	.	PUNCT
fbem-30759	99	1	3.4.1	3.4.1	X
fbem-30759	99	2	.	.	X
fbem-30759	99	3	unit	unit	NOUN
fbem-30759	99	4	root	root	PROPN
fbem-30759	99	5	test	test	NOUN
fbem-30759	99	6	as	as	SCONJ
fbem-30759	99	7	the	the	DET
fbem-30759	99	8	selected	select	VERB
fbem-30759	99	9	data	datum	NOUN
fbem-30759	99	10	are	be	AUX
fbem-30759	99	11	time	time	NOUN
fbem-30759	99	12	series	series	NOUN
fbem-30759	99	13	,	,	PUNCT
fbem-30759	99	14	which	which	PRON
fbem-30759	99	15	are	be	AUX
fbem-30759	99	16	generally	generally	ADV
fbem-30759	99	17	non	non	ADJ
fbem-30759	99	18	-	-	ADJ
fbem-30759	99	19	stationary	stationary	ADJ
fbem-30759	99	20	,	,	PUNCT
fbem-30759	99	21	a	a	DET
fbem-30759	99	22	unit	unit	NOUN
fbem-30759	99	23	root	root	NOUN
fbem-30759	99	24	test	test	NOUN
fbem-30759	99	25	is	be	AUX
fbem-30759	99	26	conducted	conduct	VERB
fbem-30759	99	27	prior	prior	ADV
fbem-30759	99	28	to	to	ADP
fbem-30759	99	29	analysis	analysis	NOUN
fbem-30759	99	30	to	to	PART
fbem-30759	99	31	select	select	VERB
fbem-30759	99	32	stationary	stationary	ADJ
fbem-30759	99	33	variables	variable	NOUN
fbem-30759	99	34	for	for	ADP
fbem-30759	99	35	regression	regression	NOUN
fbem-30759	99	36	[	[	X
fbem-30759	99	37	13	13	NUM
fbem-30759	99	38	]	]	PUNCT
fbem-30759	99	39	,	,	PUNCT
fbem-30759	99	40	thereby	thereby	ADV
fbem-30759	99	41	avoiding	avoid	VERB
fbem-30759	99	42	spurious	spurious	ADJ
fbem-30759	99	43	regression	regression	NOUN
fbem-30759	99	44	in	in	ADP
fbem-30759	99	45	the	the	DET
fbem-30759	99	46	regression	regression	NOUN
fbem-30759	99	47	equation	equation	NOUN
fbem-30759	99	48	.	.	PUNCT
fbem-30759	100	1	this	this	DET
fbem-30759	100	2	study	study	NOUN
fbem-30759	100	3	adopts	adopt	VERB
fbem-30759	100	4	the	the	DET
fbem-30759	100	5	adf	adf	PROPN
fbem-30759	100	6	test	test	NOUN
fbem-30759	100	7	to	to	PART
fbem-30759	100	8	determine	determine	VERB
fbem-30759	100	9	the	the	DET
fbem-30759	100	10	stationarity	stationarity	NOUN
fbem-30759	100	11	of	of	ADP
fbem-30759	100	12	each	each	DET
fbem-30759	100	13	series	series	NOUN
fbem-30759	100	14	.	.	PUNCT
fbem-30759	101	1	the	the	DET
fbem-30759	101	2	adf	adf	PROPN
fbem-30759	101	3	test	test	NOUN
fbem-30759	101	4	results	result	NOUN
fbem-30759	101	5	for	for	ADP
fbem-30759	101	6	lny	lny	PROPN
fbem-30759	101	7	are	be	AUX
fbem-30759	101	8	as	as	SCONJ
fbem-30759	101	9	follows	follow	VERB
fbem-30759	101	10	:	:	PUNCT
fbem-30759	101	11	table	table	NOUN
fbem-30759	101	12	2	2	NUM
fbem-30759	101	13	.	.	PUNCT
fbem-30759	101	14	adf	adf	PROPN
fbem-30759	101	15	unit	unit	NOUN
fbem-30759	101	16	root	root	PROPN
fbem-30759	101	17	test	test	NOUN
fbem-30759	101	18	results	result	NOUN
fbem-30759	101	19	for	for	ADP
fbem-30759	101	20	lny	lny	PROPN
fbem-30759	101	21	t	t	PROPN
fbem-30759	101	22	-	-	PUNCT
fbem-30759	101	23	statistic	statistic	NOUN
fbem-30759	101	24	c	c	PROPN
fbem-30759	101	25	augmented	augment	VERB
fbem-30759	101	26	dickeyfuller	dickeyfuller	NOUN
fbem-30759	101	27	test	test	NOUN
fbem-30759	101	28	statistic	statistic	PROPN
fbem-30759	101	29	-0.834903	-0.834903	NOUN
fbem-30759	101	30	0.3410	0.3410	NUM
fbem-30759	101	31	test	test	NOUN
fbem-30759	101	32	critical	critical	ADJ
fbem-30759	101	33	values	value	NOUN
fbem-30759	101	34	1	1	NUM
fbem-30759	101	35	%	%	NOUN
fbem-30759	101	36	level	level	NOUN
fbem-30759	101	37	-2.692358	-2.692358	VERB
fbem-30759	101	38	5	5	NUM
fbem-30759	101	39	%	%	NOUN
fbem-30759	101	40	level	level	NOUN
fbem-30759	101	41	-1.960171	-1.960171	NOUN
fbem-30759	101	42	10	10	NUM
fbem-30759	101	43	%	%	NOUN
fbem-30759	101	44	level	level	NOUN
fbem-30759	101	45	-1.607051	-1.607051	NOUN
fbem-30759	101	46	the	the	DET
fbem-30759	101	47	t	t	NOUN
fbem-30759	101	48	-	-	PUNCT
fbem-30759	101	49	statistic	statistic	NOUN
fbem-30759	101	50	value	value	NOUN
fbem-30759	101	51	is	be	AUX
fbem-30759	101	52	t	t	NOUN
fbem-30759	101	53	=	=	PUNCT
fbem-30759	101	54	-0.834903	-0.834903	NOUN
fbem-30759	101	55	.	.	PUNCT
fbem-30759	102	1	at	at	ADP
fbem-30759	102	2	the	the	DET
fbem-30759	102	3	1	1	NUM
fbem-30759	102	4	%	%	NOUN
fbem-30759	102	5	,	,	PUNCT
fbem-30759	102	6	5	5	NUM
fbem-30759	102	7	%	%	NOUN
fbem-30759	102	8	,	,	PUNCT
fbem-30759	102	9	and	and	CCONJ
fbem-30759	102	10	10	10	NUM
fbem-30759	102	11	%	%	NOUN
fbem-30759	102	12	significance	significance	NOUN
fbem-30759	102	13	levels	level	NOUN
fbem-30759	102	14	,	,	PUNCT
fbem-30759	102	15	the	the	DET
fbem-30759	102	16	critical	critical	ADJ
fbem-30759	102	17	values	value	NOUN
fbem-30759	102	18	for	for	ADP
fbem-30759	102	19	the	the	DET
fbem-30759	102	20	unit	unit	NOUN
fbem-30759	102	21	root	root	NOUN
fbem-30759	102	22	test	test	NOUN
fbem-30759	102	23	are	be	AUX
fbem-30759	102	24	-2.69	-2.69	NOUN
fbem-30759	102	25	,	,	PUNCT
fbem-30759	102	26	-1.96	-1.96	NUM
fbem-30759	102	27	,	,	PUNCT
fbem-30759	102	28	and	and	CCONJ
fbem-30759	102	29	-1.607	-1.607	NUM
fbem-30759	102	30	,	,	PUNCT
fbem-30759	102	31	respectively	respectively	ADV
fbem-30759	102	32	.	.	PUNCT
fbem-30759	103	1	since	since	SCONJ
fbem-30759	103	2	the	the	DET
fbem-30759	103	3	tstatistic	tstatistic	ADJ
fbem-30759	103	4	exceeds	exceed	VERB
fbem-30759	103	5	all	all	DET
fbem-30759	103	6	critical	critical	ADJ
fbem-30759	103	7	values	value	NOUN
fbem-30759	103	8	,	,	PUNCT
fbem-30759	103	9	we	we	PRON
fbem-30759	103	10	fail	fail	VERB
fbem-30759	103	11	to	to	PART
fbem-30759	103	12	reject	reject	VERB
fbem-30759	103	13	the	the	DET
fbem-30759	103	14	null	null	ADJ
fbem-30759	103	15	hypothesis	hypothesis	NOUN
fbem-30759	103	16	,	,	PUNCT
fbem-30759	103	17	indicating	indicate	VERB
fbem-30759	103	18	that	that	SCONJ
fbem-30759	103	19	lny	lny	PROPN
fbem-30759	103	20	contains	contain	VERB
fbem-30759	103	21	a	a	DET
fbem-30759	103	22	unit	unit	NOUN
fbem-30759	103	23	root	root	NOUN
fbem-30759	103	24	.	.	PUNCT
fbem-30759	104	1	to	to	PART
fbem-30759	104	2	address	address	VERB
fbem-30759	104	3	this	this	DET
fbem-30759	104	4	issue	issue	NOUN
fbem-30759	104	5	,	,	PUNCT
fbem-30759	104	6	this	this	DET
fbem-30759	104	7	study	study	NOUN
fbem-30759	104	8	applies	apply	VERB
fbem-30759	104	9	first	first	ADJ
fbem-30759	104	10	-	-	PUNCT
fbem-30759	104	11	order	order	NOUN
fbem-30759	104	12	differencing	differencing	NOUN
fbem-30759	104	13	to	to	ADP
fbem-30759	104	14	the	the	DET
fbem-30759	104	15	lny	lny	PROPN
fbem-30759	104	16	series	series	PROPN
fbem-30759	104	17	and	and	CCONJ
fbem-30759	104	18	conducts	conduct	VERB
fbem-30759	104	19	another	another	DET
fbem-30759	104	20	adf	adf	NOUN
fbem-30759	104	21	test	test	NOUN
fbem-30759	104	22	on	on	ADP
fbem-30759	104	23	the	the	DET
fbem-30759	104	24	processed	process	VERB
fbem-30759	104	25	data	datum	NOUN
fbem-30759	104	26	.	.	PUNCT
fbem-30759	105	1	the	the	DET
fbem-30759	105	2	results	result	NOUN
fbem-30759	105	3	are	be	AUX
fbem-30759	105	4	as	as	SCONJ
fbem-30759	105	5	follows	follow	VERB
fbem-30759	105	6	:	:	PUNCT
fbem-30759	105	7	table	table	NOUN
fbem-30759	105	8	3	3	NUM
fbem-30759	105	9	.	.	PUNCT
fbem-30759	106	1	first	first	ADJ
fbem-30759	106	2	-	-	PUNCT
fbem-30759	106	3	order	order	NOUN
fbem-30759	106	4	differencing	differencing	NOUN
fbem-30759	106	5	results	result	NOUN
fbem-30759	106	6	of	of	ADP
fbem-30759	106	7	lny	lny	PROPN
fbem-30759	106	8	t	t	PROPN
fbem-30759	106	9	-	-	PUNCT
fbem-30759	106	10	statistic	statistic	NOUN
fbem-30759	106	11	prob	prob	NOUN
fbem-30759	106	12	.	.	PUNCT
fbem-30759	106	13	*	*	PUNCT
fbem-30759	106	14	augmented	augment	VERB
fbem-30759	106	15	dickeyfuller	dickeyfuller	NOUN
fbem-30759	106	16	test	test	NOUN
fbem-30759	106	17	statistic	statistic	NOUN
fbem-30759	106	18	-2.522562	-2.522562	VERB
fbem-30759	106	19	0.0148	0.0148	NUM
fbem-30759	106	20	test	test	NOUN
fbem-30759	106	21	critical	critical	ADJ
fbem-30759	106	22	values	value	NOUN
fbem-30759	106	23	1	1	NUM
fbem-30759	106	24	%	%	NOUN
fbem-30759	106	25	level	level	NOUN
fbem-30759	106	26	-2.692358	-2.692358	VERB
fbem-30759	106	27	5	5	NUM
fbem-30759	106	28	%	%	NOUN
fbem-30759	106	29	level	level	NOUN
fbem-30759	106	30	-1.960171	-1.960171	NOUN
fbem-30759	106	31	10	10	NUM
fbem-30759	106	32	%	%	NOUN
fbem-30759	106	33	level	level	NOUN
fbem-30759	106	34	-1.607051	-1.607051	NOUN
fbem-30759	106	35	the	the	DET
fbem-30759	106	36	results	result	NOUN
fbem-30759	106	37	now	now	ADV
fbem-30759	106	38	show	show	VERB
fbem-30759	106	39	that	that	SCONJ
fbem-30759	106	40	the	the	DET
fbem-30759	106	41	t	t	PROPN
fbem-30759	106	42	-	-	PUNCT
fbem-30759	106	43	statistic	statistic	NOUN
fbem-30759	106	44	is	be	AUX
fbem-30759	106	45	smaller	small	ADJ
fbem-30759	106	46	than	than	ADP
fbem-30759	106	47	the	the	DET
fbem-30759	106	48	critical	critical	ADJ
fbem-30759	106	49	values	value	NOUN
fbem-30759	106	50	at	at	ADP
fbem-30759	106	51	both	both	CCONJ
fbem-30759	106	52	the	the	DET
fbem-30759	106	53	5	5	NUM
fbem-30759	106	54	%	%	NOUN
fbem-30759	106	55	and	and	CCONJ
fbem-30759	106	56	10	10	NUM
fbem-30759	106	57	%	%	NOUN
fbem-30759	106	58	significance	significance	NOUN
fbem-30759	106	59	levels	level	NOUN
fbem-30759	106	60	,	,	PUNCT
fbem-30759	106	61	with	with	ADP
fbem-30759	106	62	a	a	DET
fbem-30759	106	63	p	p	NOUN
fbem-30759	106	64	-	-	PUNCT
fbem-30759	106	65	value	value	NOUN
fbem-30759	106	66	of	of	ADP
fbem-30759	106	67	0.0148	0.0148	NUM
fbem-30759	106	68	(	(	PUNCT
fbem-30759	106	69	less	less	ADJ
fbem-30759	106	70	than	than	ADP
fbem-30759	106	71	0.05	0.05	NUM
fbem-30759	106	72	)	)	PUNCT
fbem-30759	106	73	.	.	PUNCT
fbem-30759	107	1	we	we	PRON
fbem-30759	107	2	therefore	therefore	ADV
fbem-30759	107	3	reject	reject	VERB
fbem-30759	107	4	the	the	DET
fbem-30759	107	5	null	null	ADJ
fbem-30759	107	6	hypothesis	hypothesis	NOUN
fbem-30759	107	7	and	and	CCONJ
fbem-30759	107	8	conclude	conclude	VERB
fbem-30759	107	9	that	that	SCONJ
fbem-30759	107	10	the	the	DET
fbem-30759	107	11	series	series	NOUN
fbem-30759	107	12	no	no	ADV
fbem-30759	107	13	longer	long	ADV
fbem-30759	107	14	contains	contain	VERB
fbem-30759	107	15	a	a	DET
fbem-30759	107	16	unit	unit	NOUN
fbem-30759	107	17	root	root	NOUN
fbem-30759	107	18	and	and	CCONJ
fbem-30759	107	19	has	have	AUX
fbem-30759	107	20	become	become	VERB
fbem-30759	107	21	stationary	stationary	ADJ
fbem-30759	107	22	.	.	PUNCT
fbem-30759	108	1	the	the	DET
fbem-30759	108	2	adf	adf	PROPN
fbem-30759	108	3	test	test	NOUN
fbem-30759	108	4	results	result	NOUN
fbem-30759	108	5	for	for	ADP
fbem-30759	108	6	lnx2	lnx2	PROPN
fbem-30759	108	7	,	,	PUNCT
fbem-30759	108	8	lnx3	lnx3	PROPN
fbem-30759	108	9	,	,	PUNCT
fbem-30759	108	10	lnx4	lnx4	PROPN
fbem-30759	108	11	,	,	PUNCT
fbem-30759	108	12	and	and	CCONJ
fbem-30759	108	13	lnx5	lnx5	PROPN
fbem-30759	108	14	are	be	AUX
fbem-30759	108	15	presented	present	VERB
fbem-30759	108	16	in	in	ADP
fbem-30759	108	17	the	the	DET
fbem-30759	108	18	following	follow	VERB
fbem-30759	108	19	table	table	NOUN
fbem-30759	108	20	:	:	PUNCT
fbem-30759	108	21	85	85	NUM
fbem-30759	108	22	table	table	NOUN
fbem-30759	108	23	4	4	NUM
fbem-30759	108	24	.	.	PUNCT
fbem-30759	109	1	adf	adf	PROPN
fbem-30759	109	2	unit	unit	NOUN
fbem-30759	109	3	root	root	PROPN
fbem-30759	109	4	test	test	NOUN
fbem-30759	109	5	results	result	VERB
fbem-30759	109	6	variable	variable	ADJ
fbem-30759	109	7	t	t	NOUN
fbem-30759	109	8	-	-	PUNCT
fbem-30759	109	9	critical	critical	ADJ
fbem-30759	109	10	value	value	NOUN
fbem-30759	109	11	5	5	NUM
fbem-30759	109	12	%	%	NOUN
fbem-30759	109	13	10	10	NUM
fbem-30759	109	14	%	%	NOUN
fbem-30759	109	15	p	p	NOUN
fbem-30759	109	16	-	-	PUNCT
fbem-30759	109	17	value	value	NOUN
fbem-30759	109	18	conclusion	conclusion	NOUN
fbem-30759	109	19	lnx2	lnx2	PROPN
fbem-30759	109	20	1.189165	1.189165	NUM
fbem-30759	109	21	-1.960171	-1.960171	NOUN
fbem-30759	109	22	-1.607051	-1.607051	NOUN
fbem-30759	109	23	0.9334	0.9334	NUM
fbem-30759	109	24	non	non	ADJ
fbem-30759	109	25	-	-	ADJ
fbem-30759	109	26	stationary	stationary	ADJ
fbem-30759	109	27	dlnx2	dlnx2	PROPN
fbem-30759	109	28	-0.567309	-0.567309	NOUN
fbem-30759	109	29	-1.962813	-1.962813	PROPN
fbem-30759	109	30	-1.606129	-1.606129	VERB
fbem-30759	109	31	0.04580	0.04580	NUM
fbem-30759	109	32	stationary	stationary	ADJ
fbem-30759	109	33	ddlnx2	ddlnx2	PROPN
fbem-30759	109	34	-4.205620	-4.205620	PROPN
fbem-30759	109	35	-1.964418	-1.964418	PROPN
fbem-30759	109	36	-1.605603	-1.605603	PUNCT
fbem-30759	110	1	0.0003	0.0003	NUM
fbem-30759	110	2	stationary	stationary	ADJ
fbem-30759	110	3	lnx3	lnx3	NOUN
fbem-30759	110	4	0.338066	0.338066	NUM
fbem-30759	110	5	-1.960171	-1.960171	NOUN
fbem-30759	110	6	-1.607051	-1.607051	NOUN
fbem-30759	110	7	0.7725	0.7725	NUM
fbem-30759	110	8	non	non	ADJ
fbem-30759	110	9	-	-	ADJ
fbem-30759	110	10	stationary	stationary	ADJ
fbem-30759	110	11	dlnx3	dlnx3	NOUN
fbem-30759	110	12	-0.621283	-0.621283	X
fbem-30759	110	13	-1.960171	-1.960171	PROPN
fbem-30759	110	14	-1.607051	-1.607051	PROPN
fbem-30759	110	15	0.4580	0.4580	NUM
fbem-30759	110	16	non	non	ADJ
fbem-30759	110	17	-	-	ADJ
fbem-30759	110	18	stationary	stationary	ADJ
fbem-30759	110	19	ddlnx3	ddlnx3	NOUN
fbem-30759	110	20	-4.205620	-4.205620	PROPN
fbem-30759	110	21	-1.962813	-1.962813	PROPN
fbem-30759	110	22	-1.606129	-1.606129	VERB
fbem-30759	110	23	0.0003	0.0003	NUM
fbem-30759	110	24	stationary	stationary	ADJ
fbem-30759	110	25	lnx4	lnx4	PROPN
fbem-30759	110	26	1.042932	1.042932	NUM
fbem-30759	110	27	-1.959071	-1.959071	NOUN
fbem-30759	110	28	-1.607456	-1.607456	NOUN
fbem-30759	110	29	0.9157	0.9157	NUM
fbem-30759	110	30	non	non	ADJ
fbem-30759	110	31	-	-	ADJ
fbem-30759	110	32	stationary	stationary	ADJ
fbem-30759	110	33	dlnx4	dlnx4	NOUN
fbem-30759	110	34	-4.107357	-4.107357	NOUN
fbem-30759	110	35	-1.960717	-1.960717	PROPN
fbem-30759	110	36	-1.607051	-1.607051	NOUN
fbem-30759	110	37	0.0003	0.0003	NUM
fbem-30759	110	38	stationary	stationary	ADJ
fbem-30759	110	39	ddlnx4	ddlnx4	PROPN
fbem-30759	110	40	-7.442645	-7.442645	PROPN
fbem-30759	110	41	-1.961409	-1.961409	PROPN
fbem-30759	110	42	-1.606610	-1.606610	VERB
fbem-30759	110	43	0.0000	0.0000	NUM
fbem-30759	110	44	stationary	stationary	ADJ
fbem-30759	110	45	lnx5	lnx5	PROPN
fbem-30759	110	46	0.176421	0.176421	NUM
fbem-30759	110	47	-1.960171	-1.960171	NUM
fbem-30759	110	48	-1.607051	-1.607051	NOUN
fbem-30759	110	49	0.7262	0.7262	NUM
fbem-30759	110	50	non	non	ADJ
fbem-30759	110	51	-	-	ADJ
fbem-30759	110	52	stationary	stationary	ADJ
fbem-30759	110	53	dlnx5	dlnx5	PROPN
fbem-30759	110	54	-1.292782	-1.292782	PROPN
fbem-30759	110	55	-1.960171	-1.960171	PUNCT
fbem-30759	110	56	-1.607051	-1.607051	PROPN
fbem-30759	111	1	0.1740	0.1740	NUM
fbem-30759	111	2	non	non	ADJ
fbem-30759	111	3	-	-	ADJ
fbem-30759	111	4	stationary	stationary	ADJ
fbem-30759	111	5	ddlnx5	ddlnx5	PROPN
fbem-30759	111	6	-4.424659	-4.424659	PROPN
fbem-30759	111	7	-1.961409	-1.961409	PROPN
fbem-30759	111	8	-1.606610	-1.606610	VERB
fbem-30759	111	9	0.0002	0.0002	NUM
fbem-30759	111	10	stationary	stationary	ADJ
fbem-30759	111	11	3.4.2	3.4.2	NUM
fbem-30759	111	12	.	.	PUNCT
fbem-30759	112	1	johansen	johansen	PROPN
fbem-30759	112	2	cointegration	cointegration	PROPN
fbem-30759	112	3	test	test	NOUN
fbem-30759	112	4	table	table	NOUN
fbem-30759	112	5	5	5	NUM
fbem-30759	112	6	.	.	PUNCT
fbem-30759	113	1	johansen	johansen	PROPN
fbem-30759	113	2	cointegration	cointegration	PROPN
fbem-30759	113	3	test	test	NOUN
fbem-30759	113	4	results	result	NOUN
fbem-30759	113	5	hypothesized	hypothesize	VERB
fbem-30759	113	6	no	no	ADP
fbem-30759	113	7	.	.	PUNCT
fbem-30759	113	8	of	of	ADP
fbem-30759	113	9	ce	ce	PROPN
fbem-30759	113	10	(	(	PUNCT
fbem-30759	113	11	s	s	NOUN
fbem-30759	113	12	)	)	PUNCT
fbem-30759	113	13	eigenvalue	eigenvalue	NOUN
fbem-30759	113	14	trace	trace	NOUN
fbem-30759	113	15	statistic	statistic	NOUN
fbem-30759	113	16	0.05	0.05	NUM
fbem-30759	113	17	critical	critical	ADJ
fbem-30759	113	18	value	value	NOUN
fbem-30759	113	19	prob	prob	NOUN
fbem-30759	113	20	.	.	PUNCT
fbem-30759	114	1	*	*	PUNCT
fbem-30759	115	1	*	*	PUNCT
fbem-30759	115	2	none	none	NOUN
fbem-30759	115	3	*	*	NOUN
fbem-30759	115	4	0.929665	0.929665	NUM
fbem-30759	115	5	88.29224	88.29224	NUM
fbem-30759	115	6	47.85613	47.85613	NUM
fbem-30759	115	7	0.0000	0.0000	NUM
fbem-30759	115	8	at	at	ADP
fbem-30759	115	9	most	most	ADJ
fbem-30759	115	10	1	1	NUM
fbem-30759	115	11	*	*	NOUN
fbem-30759	115	12	0.828094	0.828094	NUM
fbem-30759	115	13	40.51140	40.51140	NUM
fbem-30759	115	14	29.79707	29.79707	NUM
fbem-30759	115	15	0.0020	0.0020	NUM
fbem-30759	115	16	at	at	ADP
fbem-30759	115	17	most	most	ADJ
fbem-30759	115	18	2	2	NUM
fbem-30759	115	19	0.332808	0.332808	NUM
fbem-30759	115	20	8.816915	8.816915	NUM
fbem-30759	115	21	15.49471	15.49471	NUM
fbem-30759	115	22	0.3826	0.3826	NUM
fbem-30759	115	23	at	at	ADP
fbem-30759	115	24	most	most	ADJ
fbem-30759	115	25	3	3	NUM
fbem-30759	115	26	0.081626	0.081626	NUM
fbem-30759	115	27	1.532713	1.532713	NUM
fbem-30759	115	28	3.841465	3.841465	NUM
fbem-30759	115	29	0.2157	0.2157	NUM
fbem-30759	115	30	the	the	DET
fbem-30759	115	31	test	test	NOUN
fbem-30759	115	32	results	result	NOUN
fbem-30759	115	33	indicate	indicate	VERB
fbem-30759	115	34	the	the	DET
fbem-30759	115	35	presence	presence	NOUN
fbem-30759	115	36	of	of	ADP
fbem-30759	115	37	two	two	NUM
fbem-30759	115	38	cointegration	cointegration	NOUN
fbem-30759	115	39	relationships	relationship	NOUN
fbem-30759	115	40	.	.	PUNCT
fbem-30759	116	1	3.4.3	3.4.3	X
fbem-30759	116	2	.	.	PUNCT
fbem-30759	117	1	granger	granger	PROPN
fbem-30759	117	2	causality	causality	PROPN
fbem-30759	117	3	test	test	NOUN
fbem-30759	117	4	table	table	NOUN
fbem-30759	117	5	6	6	NUM
fbem-30759	117	6	.	.	PUNCT
fbem-30759	118	1	granger	granger	PROPN
fbem-30759	118	2	causality	causality	PROPN
fbem-30759	118	3	test	test	NOUN
fbem-30759	118	4	null	null	ADJ
fbem-30759	118	5	hypothesis	hypothesis	NOUN
fbem-30759	118	6	obs	obs	PROPN
fbem-30759	118	7	fstatistic	fstatistic	PROPN
fbem-30759	118	8	prob	prob	PROPN
fbem-30759	118	9	.	.	PUNCT
fbem-30759	119	1	lnx1	lnx1	PROPN
fbem-30759	119	2	does	do	AUX
fbem-30759	119	3	not	not	PART
fbem-30759	119	4	granger	granger	VERB
fbem-30759	119	5	cause	cause	VERB
fbem-30759	119	6	lny	lny	PROPN
fbem-30759	119	7	17	17	NUM
fbem-30759	119	8	0.13179	0.13179	NUM
fbem-30759	119	9	0.8778	0.8778	NUM
fbem-30759	119	10	lny	lny	PROPN
fbem-30759	119	11	does	do	AUX
fbem-30759	119	12	not	not	PART
fbem-30759	119	13	granger	granger	AUX
fbem-30759	119	14	cause	cause	VERB
fbem-30759	119	15	lnx1	lnx1	PROPN
fbem-30759	119	16	1.30117	1.30117	NUM
fbem-30759	119	17	0.3080	0.3080	NUM
fbem-30759	119	18	lnx2	lnx2	NOUN
fbem-30759	119	19	does	do	AUX
fbem-30759	119	20	not	not	PART
fbem-30759	119	21	granger	granger	AUX
fbem-30759	119	22	cause	cause	VERB
fbem-30759	119	23	lny	lny	PROPN
fbem-30759	119	24	19	19	NUM
fbem-30759	119	25	6.05714	6.05714	NUM
fbem-30759	119	26	0.0127	0.0127	NUM
fbem-30759	119	27	lny	lny	PROPN
fbem-30759	119	28	does	do	AUX
fbem-30759	119	29	not	not	PART
fbem-30759	119	30	granger	granger	AUX
fbem-30759	119	31	cause	cause	VERB
fbem-30759	119	32	lnx2	lnx2	PROPN
fbem-30759	119	33	1.88596	1.88596	NUM
fbem-30759	119	34	0.1883	0.1883	NUM
fbem-30759	119	35	lnx3	lnx3	NOUN
fbem-30759	119	36	does	do	AUX
fbem-30759	119	37	not	not	PART
fbem-30759	119	38	granger	granger	AUX
fbem-30759	119	39	cause	cause	VERB
fbem-30759	119	40	lny	lny	PROPN
fbem-30759	119	41	19	19	NUM
fbem-30759	119	42	1.66417	1.66417	NUM
fbem-30759	119	43	0.0247	0.0247	NUM
fbem-30759	119	44	lny	lny	PROPN
fbem-30759	119	45	does	do	AUX
fbem-30759	119	46	not	not	PART
fbem-30759	119	47	granger	granger	AUX
fbem-30759	119	48	cause	cause	VERB
fbem-30759	119	49	lnx3	lnx3	NOUN
fbem-30759	119	50	0.80788	0.80788	NUM
fbem-30759	119	51	0.4655	0.4655	NUM
fbem-30759	119	52	lnx4	lnx4	PROPN
fbem-30759	119	53	does	do	AUX
fbem-30759	119	54	not	not	PART
fbem-30759	119	55	granger	granger	VERB
fbem-30759	119	56	cause	cause	VERB
fbem-30759	119	57	lny	lny	PROPN
fbem-30759	119	58	19	19	NUM
fbem-30759	119	59	3.08651	3.08651	NUM
fbem-30759	119	60	0.0775	0.0775	NUM
fbem-30759	119	61	lny	lny	PROPN
fbem-30759	119	62	does	do	AUX
fbem-30759	119	63	not	not	PART
fbem-30759	119	64	granger	granger	AUX
fbem-30759	119	65	cause	cause	VERB
fbem-30759	119	66	lnx4	lnx4	PROPN
fbem-30759	119	67	0.20289	0.20289	NUM
fbem-30759	119	68	0.8187	0.8187	NUM
fbem-30759	119	69	lnx5	lnx5	NOUN
fbem-30759	119	70	does	do	AUX
fbem-30759	119	71	not	not	PART
fbem-30759	119	72	granger	granger	AUX
fbem-30759	119	73	cause	cause	VERB
fbem-30759	119	74	lny	lny	PROPN
fbem-30759	119	75	19	19	NUM
fbem-30759	119	76	3.40444	3.40444	NUM
fbem-30759	119	77	0.0324	0.0324	NUM
fbem-30759	119	78	lny	lny	PROPN
fbem-30759	119	79	does	do	AUX
fbem-30759	119	80	not	not	PART
fbem-30759	119	81	granger	granger	AUX
fbem-30759	119	82	cause	cause	VERB
fbem-30759	119	83	lnx5	lnx5	PROPN
fbem-30759	119	84	1.20826	1.20826	NUM
fbem-30759	119	85	0.3280	0.3280	NUM
fbem-30759	119	86	at	at	ADP
fbem-30759	119	87	the	the	DET
fbem-30759	119	88	given	give	VERB
fbem-30759	119	89	significance	significance	NOUN
fbem-30759	119	90	level	level	NOUN
fbem-30759	119	91	:	:	PUNCT
fbem-30759	119	92	for	for	ADP
fbem-30759	119	93	the	the	DET
fbem-30759	119	94	null	null	ADJ
fbem-30759	119	95	hypothesis	hypothesis	NOUN
fbem-30759	119	96	"	"	PUNCT
fbem-30759	119	97	lnx1	lnx1	PROPN
fbem-30759	119	98	does	do	VERB
fbem-30759	119	99	not	not	PART
fbem-30759	119	100	granger	granger	NOUN
fbem-30759	119	101	-	-	PUNCT
fbem-30759	119	102	cause	cause	NOUN
fbem-30759	119	103	lny	lny	PROPN
fbem-30759	119	104	"	"	PUNCT
fbem-30759	119	105	,	,	PUNCT
fbem-30759	119	106	the	the	DET
fbem-30759	119	107	p	p	NOUN
fbem-30759	119	108	-	-	PUNCT
fbem-30759	119	109	value	value	NOUN
fbem-30759	119	110	is	be	AUX
fbem-30759	119	111	greater	great	ADJ
fbem-30759	119	112	than	than	ADP
fbem-30759	119	113	0.05	0.05	NUM
fbem-30759	119	114	,	,	PUNCT
fbem-30759	119	115	thus	thus	ADV
fbem-30759	119	116	we	we	PRON
fbem-30759	119	117	fail	fail	VERB
fbem-30759	119	118	to	to	PART
fbem-30759	119	119	reject	reject	VERB
fbem-30759	119	120	the	the	DET
fbem-30759	119	121	null	null	ADJ
fbem-30759	119	122	hypothesis	hypothesis	NOUN
fbem-30759	119	123	.	.	PUNCT
fbem-30759	120	1	this	this	PRON
fbem-30759	120	2	suggests	suggest	VERB
fbem-30759	120	3	that	that	SCONJ
fbem-30759	120	4	changes	change	NOUN
fbem-30759	120	5	in	in	ADP
fbem-30759	120	6	the	the	DET
fbem-30759	120	7	trade	trade	NOUN
fbem-30759	120	8	balance	balance	NOUN
fbem-30759	120	9	(	(	PUNCT
fbem-30759	120	10	lnx1	lnx1	PROPN
fbem-30759	120	11	)	)	PUNCT
fbem-30759	120	12	can	can	AUX
fbem-30759	120	13	not	not	PART
fbem-30759	120	14	adequately	adequately	ADV
fbem-30759	120	15	explain	explain	VERB
fbem-30759	120	16	fluctuations	fluctuation	NOUN
fbem-30759	120	17	in	in	ADP
fbem-30759	120	18	the	the	DET
fbem-30759	120	19	rmb	rmb	NOUN
fbem-30759	120	20	/	/	SYM
fbem-30759	120	21	usd	usd	NOUN
fbem-30759	120	22	exchange	exchange	NOUN
fbem-30759	120	23	rate	rate	NOUN
fbem-30759	120	24	.	.	PUNCT
fbem-30759	121	1	for	for	ADP
fbem-30759	121	2	the	the	DET
fbem-30759	121	3	null	null	ADJ
fbem-30759	121	4	hypothesis	hypothesis	NOUN
fbem-30759	121	5	"	"	PUNCT
fbem-30759	121	6	lnx2	lnx2	NOUN
fbem-30759	121	7	does	do	AUX
fbem-30759	121	8	not	not	PART
fbem-30759	121	9	granger	granger	NOUN
fbem-30759	121	10	-	-	PUNCT
fbem-30759	121	11	cause	cause	NOUN
fbem-30759	121	12	lny	lny	PROPN
fbem-30759	121	13	"	"	PUNCT
fbem-30759	121	14	,	,	PUNCT
fbem-30759	121	15	the	the	DET
fbem-30759	121	16	p	p	NOUN
fbem-30759	121	17	-	-	PUNCT
fbem-30759	121	18	value	value	NOUN
fbem-30759	121	19	is	be	AUX
fbem-30759	121	20	less	less	ADJ
fbem-30759	121	21	than	than	ADP
fbem-30759	121	22	0.05	0.05	NUM
fbem-30759	121	23	,	,	PUNCT
fbem-30759	121	24	leading	lead	VERB
fbem-30759	121	25	us	we	PRON
fbem-30759	121	26	to	to	PART
fbem-30759	121	27	reject	reject	VERB
fbem-30759	121	28	the	the	DET
fbem-30759	121	29	null	null	ADJ
fbem-30759	121	30	hypothesis	hypothesis	NOUN
fbem-30759	121	31	.	.	PUNCT
fbem-30759	122	1	this	this	PRON
fbem-30759	122	2	indicates	indicate	VERB
fbem-30759	122	3	that	that	SCONJ
fbem-30759	122	4	gdp	gdp	NOUN
fbem-30759	122	5	growth	growth	NOUN
fbem-30759	122	6	(	(	PUNCT
fbem-30759	122	7	lnx2	lnx2	PROPN
fbem-30759	122	8	)	)	PUNCT
fbem-30759	122	9	is	be	AUX
fbem-30759	122	10	a	a	DET
fbem-30759	122	11	significant	significant	ADJ
fbem-30759	122	12	factor	factor	NOUN
fbem-30759	122	13	causing	cause	VERB
fbem-30759	122	14	rmb	rmb	NOUN
fbem-30759	122	15	exchange	exchange	NOUN
fbem-30759	122	16	rate	rate	NOUN
fbem-30759	122	17	movements	movement	NOUN
fbem-30759	122	18	.	.	PUNCT
fbem-30759	123	1	for	for	ADP
fbem-30759	123	2	the	the	DET
fbem-30759	123	3	null	null	ADJ
fbem-30759	123	4	hypothesis	hypothesis	NOUN
fbem-30759	123	5	"	"	PUNCT
fbem-30759	123	6	lnx3	lnx3	PROPN
fbem-30759	123	7	does	do	AUX
fbem-30759	123	8	not	not	PART
fbem-30759	123	9	granger	granger	NOUN
fbem-30759	123	10	-	-	PUNCT
fbem-30759	123	11	cause	cause	NOUN
fbem-30759	123	12	lny	lny	PROPN
fbem-30759	123	13	"	"	PUNCT
fbem-30759	123	14	,	,	PUNCT
fbem-30759	123	15	the	the	DET
fbem-30759	123	16	p	p	NOUN
fbem-30759	123	17	-	-	PUNCT
fbem-30759	123	18	value	value	NOUN
fbem-30759	123	19	is	be	AUX
fbem-30759	123	20	less	less	ADJ
fbem-30759	123	21	than	than	ADP
fbem-30759	123	22	0.05	0.05	NUM
fbem-30759	123	23	,	,	PUNCT
fbem-30759	123	24	so	so	SCONJ
fbem-30759	123	25	we	we	PRON
fbem-30759	123	26	reject	reject	VERB
fbem-30759	123	27	the	the	DET
fbem-30759	123	28	null	null	ADJ
fbem-30759	123	29	hypothesis	hypothesis	NOUN
fbem-30759	123	30	.	.	PUNCT
fbem-30759	124	1	this	this	PRON
fbem-30759	124	2	demonstrates	demonstrate	VERB
fbem-30759	124	3	that	that	SCONJ
fbem-30759	124	4	money	money	NOUN
fbem-30759	124	5	supply	supply	NOUN
fbem-30759	124	6	changes	change	NOUN
fbem-30759	124	7	(	(	PUNCT
fbem-30759	124	8	lnx3	lnx3	PROPN
fbem-30759	124	9	)	)	PUNCT
fbem-30759	124	10	can	can	AUX
fbem-30759	124	11	effectively	effectively	ADV
fbem-30759	124	12	explain	explain	VERB
fbem-30759	124	13	rmb	rmb	NOUN
fbem-30759	124	14	exchange	exchange	NOUN
fbem-30759	124	15	rate	rate	NOUN
fbem-30759	124	16	fluctuations	fluctuation	NOUN
fbem-30759	124	17	.	.	PUNCT
fbem-30759	125	1	for	for	ADP
fbem-30759	125	2	the	the	DET
fbem-30759	125	3	null	null	ADJ
fbem-30759	125	4	hypothesis	hypothesis	NOUN
fbem-30759	125	5	"	"	PUNCT
fbem-30759	125	6	lnx4	lnx4	PROPN
fbem-30759	125	7	does	do	AUX
fbem-30759	125	8	not	not	PART
fbem-30759	125	9	granger	granger	NOUN
fbem-30759	125	10	-	-	PUNCT
fbem-30759	125	11	cause	cause	NOUN
fbem-30759	125	12	lny	lny	PROPN
fbem-30759	125	13	"	"	PUNCT
fbem-30759	125	14	,	,	PUNCT
fbem-30759	125	15	the	the	DET
fbem-30759	125	16	pvalue	pvalue	NOUN
fbem-30759	125	17	is	be	AUX
fbem-30759	125	18	greater	great	ADJ
fbem-30759	125	19	than	than	ADP
fbem-30759	125	20	0.05	0.05	NUM
fbem-30759	125	21	,	,	PUNCT
fbem-30759	125	22	therefore	therefore	ADV
fbem-30759	125	23	we	we	PRON
fbem-30759	125	24	fail	fail	VERB
fbem-30759	125	25	to	to	PART
fbem-30759	125	26	reject	reject	VERB
fbem-30759	125	27	the	the	DET
fbem-30759	125	28	null	null	ADJ
fbem-30759	125	29	hypothesis	hypothesis	NOUN
fbem-30759	125	30	.	.	PUNCT
fbem-30759	126	1	this	this	PRON
fbem-30759	126	2	implies	imply	VERB
fbem-30759	126	3	that	that	SCONJ
fbem-30759	126	4	foreign	foreign	ADJ
fbem-30759	126	5	direct	direct	ADJ
fbem-30759	126	6	investment	investment	NOUN
fbem-30759	126	7	(	(	PUNCT
fbem-30759	126	8	lnx4	lnx4	PROPN
fbem-30759	126	9	)	)	PUNCT
fbem-30759	126	10	does	do	AUX
fbem-30759	126	11	not	not	PART
fbem-30759	126	12	sufficiently	sufficiently	ADV
fbem-30759	126	13	explain	explain	VERB
fbem-30759	126	14	exchange	exchange	NOUN
fbem-30759	126	15	rate	rate	NOUN
fbem-30759	126	16	movements	movement	NOUN
fbem-30759	126	17	.	.	PUNCT
fbem-30759	127	1	for	for	ADP
fbem-30759	127	2	the	the	DET
fbem-30759	127	3	null	null	ADJ
fbem-30759	127	4	hypothesis	hypothesis	NOUN
fbem-30759	127	5	"	"	PUNCT
fbem-30759	127	6	lnx5	lnx5	PROPN
fbem-30759	127	7	does	do	AUX
fbem-30759	127	8	not	not	PART
fbem-30759	127	9	granger	granger	NOUN
fbem-30759	127	10	-	-	PUNCT
fbem-30759	127	11	cause	cause	NOUN
fbem-30759	127	12	lny	lny	PROPN
fbem-30759	127	13	"	"	PUNCT
fbem-30759	127	14	,	,	PUNCT
fbem-30759	127	15	the	the	DET
fbem-30759	127	16	p	p	NOUN
fbem-30759	127	17	-	-	PUNCT
fbem-30759	127	18	value	value	NOUN
fbem-30759	127	19	is	be	AUX
fbem-30759	127	20	less	less	ADJ
fbem-30759	127	21	than	than	ADP
fbem-30759	127	22	0.05	0.05	NUM
fbem-30759	127	23	,	,	PUNCT
fbem-30759	127	24	leading	lead	VERB
fbem-30759	127	25	us	we	PRON
fbem-30759	127	26	to	to	PART
fbem-30759	127	27	reject	reject	VERB
fbem-30759	127	28	the	the	DET
fbem-30759	127	29	null	null	ADJ
fbem-30759	127	30	hypothesis	hypothesis	NOUN
fbem-30759	127	31	.	.	PUNCT
fbem-30759	128	1	this	this	PRON
fbem-30759	128	2	shows	show	VERB
fbem-30759	128	3	that	that	SCONJ
fbem-30759	128	4	foreign	foreign	ADJ
fbem-30759	128	5	exchange	exchange	NOUN
fbem-30759	128	6	reserve	reserve	NOUN
fbem-30759	128	7	levels	level	NOUN
fbem-30759	128	8	(	(	PUNCT
fbem-30759	128	9	lnx5	lnx5	PROPN
fbem-30759	128	10	)	)	PUNCT
fbem-30759	128	11	can	can	AUX
fbem-30759	128	12	reasonably	reasonably	ADV
fbem-30759	128	13	explain	explain	VERB
fbem-30759	128	14	exchange	exchange	NOUN
fbem-30759	128	15	rate	rate	NOUN
fbem-30759	128	16	variations	variation	NOUN
fbem-30759	128	17	.	.	PUNCT
fbem-30759	129	1	table	table	NOUN
fbem-30759	129	2	7	7	NUM
fbem-30759	129	3	.	.	PUNCT
fbem-30759	130	1	regression	regression	NOUN
fbem-30759	130	2	equation	equation	NOUN
fbem-30759	130	3	variable	variable	ADJ
fbem-30759	130	4	coefficient	coefficient	NOUN
fbem-30759	130	5	std	std	PROPN
fbem-30759	130	6	.	.	NOUN
fbem-30759	130	7	error	error	NOUN
fbem-30759	130	8	t	t	NOUN
fbem-30759	130	9	-	-	PUNCT
fbem-30759	130	10	statistic	statistic	NOUN
fbem-30759	130	11	prob	prob	NOUN
fbem-30759	130	12	lnx2	lnx2	PROPN
fbem-30759	130	13	0.002431	0.002431	NUM
fbem-30759	130	14	0.019047	0.019047	NUM
fbem-30759	130	15	0.127639	0.127639	NUM
fbem-30759	130	16	0.0199	0.0199	NUM
fbem-30759	130	17	lnx3	lnx3	PROPN
fbem-30759	130	18	-0.614014	-0.614014	NOUN
fbem-30759	130	19	0.082094	0.082094	NUM
fbem-30759	130	20	-7.479412	-7.479412	VERB
fbem-30759	131	1	0.0021	0.0021	NUM
fbem-30759	131	2	lnx5	lnx5	PROPN
fbem-30759	131	3	0.636886	0.636886	NUM
fbem-30759	131	4	0.103525	0.103525	NUM
fbem-30759	131	5	6.152015	6.152015	NUM
fbem-30759	131	6	0.0000	0.0000	NUM
fbem-30759	131	7	c	c	NOUN
fbem-30759	131	8	2.328012	2.328012	NUM
fbem-30759	131	9	0.134842	0.134842	NUM
fbem-30759	131	10	17.26474	17.26474	NUM
fbem-30759	131	11	0.0000	0.0000	NUM
fbem-30759	131	12	based	base	VERB
fbem-30759	131	13	on	on	ADP
fbem-30759	131	14	the	the	DET
fbem-30759	131	15	above	above	ADJ
fbem-30759	131	16	analysis	analysis	NOUN
fbem-30759	131	17	,	,	PUNCT
fbem-30759	131	18	since	since	SCONJ
fbem-30759	131	19	lnx1	lnx1	PROPN
fbem-30759	131	20	and	and	CCONJ
fbem-30759	131	21	lnx4	lnx4	PROPN
fbem-30759	131	22	can	can	AUX
fbem-30759	131	23	not	not	PART
fbem-30759	131	24	adequately	adequately	ADV
fbem-30759	131	25	explain	explain	VERB
fbem-30759	131	26	lny	lny	PROPN
fbem-30759	131	27	,	,	PUNCT
fbem-30759	131	28	they	they	PRON
fbem-30759	131	29	are	be	AUX
fbem-30759	131	30	excluded	exclude	VERB
fbem-30759	131	31	from	from	ADP
fbem-30759	131	32	the	the	DET
fbem-30759	131	33	regression	regression	NOUN
fbem-30759	131	34	equation	equation	NOUN
fbem-30759	131	35	,	,	PUNCT
fbem-30759	131	36	yielding	yield	VERB
fbem-30759	131	37	the	the	DET
fbem-30759	131	38	following	follow	VERB
fbem-30759	131	39	results	result	NOUN
fbem-30759	131	40	:	:	PUNCT
fbem-30759	131	41	lny	lny	PROPN
fbem-30759	131	42	=	=	PUNCT
fbem-30759	131	43	0.002431lnx2	0.002431lnx2	NOUN
fbem-30759	131	44	0.614014lnx3	0.614014lnx3	NOUN
fbem-30759	132	1	+	+	CCONJ
fbem-30759	132	2	0.636886lnx5	0.636886lnx5	ADJ
fbem-30759	132	3	+	+	CCONJ
fbem-30759	132	4	2.328012	2.328012	NUM
fbem-30759	132	5	(	(	PUNCT
fbem-30759	132	6	3.2	3.2	NUM
fbem-30759	132	7	)	)	PUNCT
fbem-30759	132	8	(	(	PUNCT
fbem-30759	132	9	0.019047	0.019047	NUM
fbem-30759	132	10	)	)	PUNCT
fbem-30759	132	11	(	(	PUNCT
fbem-30759	132	12	0.082094	0.082094	NUM
fbem-30759	132	13	)	)	PUNCT
fbem-30759	132	14	(	(	PUNCT
fbem-30759	132	15	0.103525	0.103525	NUM
fbem-30759	132	16	)	)	PUNCT
fbem-30759	132	17	(	(	PUNCT
fbem-30759	132	18	0.134842	0.134842	NUM
fbem-30759	132	19	)	)	PUNCT
fbem-30759	132	20	t	t	NOUN
fbem-30759	132	21	=	=	SYM
fbem-30759	132	22	(	(	PUNCT
fbem-30759	132	23	0.127639	0.127639	NUM
fbem-30759	132	24	)	)	PUNCT
fbem-30759	132	25	(	(	PUNCT
fbem-30759	132	26	-7.479412	-7.479412	ADV
fbem-30759	132	27	)	)	PUNCT
fbem-30759	132	28	(	(	PUNCT
fbem-30759	132	29	6.152015	6.152015	NUM
fbem-30759	132	30	)	)	PUNCT
fbem-30759	132	31	(	(	PUNCT
fbem-30759	132	32	17.26474	17.26474	NUM
fbem-30759	132	33	)	)	PUNCT
fbem-30759	132	34	r²	r²	NOUN
fbem-30759	132	35	=	=	NOUN
fbem-30759	132	36	0.930270	0.930270	NUM
fbem-30759	132	37	adjusted	adjust	VERB
fbem-30759	132	38	r²	r²	NOUN
fbem-30759	132	39	=	=	SYM
fbem-30759	132	40	0.919259	0.919259	NUM
fbem-30759	132	41	f	f	X
fbem-30759	132	42	=	=	SYM
fbem-30759	132	43	84.49257	84.49257	NUM
fbem-30759	132	44	n	n	NOUN
fbem-30759	132	45	=	=	SYM
fbem-30759	132	46	23	23	NUM
fbem-30759	132	47	as	as	SCONJ
fbem-30759	132	48	can	can	AUX
fbem-30759	132	49	be	be	AUX
fbem-30759	132	50	seen	see	VERB
fbem-30759	132	51	from	from	ADP
fbem-30759	132	52	the	the	DET
fbem-30759	132	53	above	above	ADJ
fbem-30759	132	54	calculation	calculation	NOUN
fbem-30759	132	55	results	result	NOUN
fbem-30759	132	56	,	,	PUNCT
fbem-30759	132	57	the	the	DET
fbem-30759	132	58	r2	r2	NOUN
fbem-30759	132	59	is	be	AUX
fbem-30759	132	60	0.930270	0.930270	NUM
fbem-30759	132	61	and	and	CCONJ
fbem-30759	132	62	the	the	DET
fbem-30759	132	63	adjusted	adjust	VERB
fbem-30759	132	64	r2	r2	NOUN
fbem-30759	132	65	is	be	AUX
fbem-30759	132	66	0.919259	0.919259	NUM
fbem-30759	132	67	,	,	PUNCT
fbem-30759	132	68	which	which	PRON
fbem-30759	132	69	indicates	indicate	VERB
fbem-30759	132	70	that	that	SCONJ
fbem-30759	132	71	the	the	DET
fbem-30759	132	72	model	model	NOUN
fbem-30759	132	73	has	have	VERB
fbem-30759	132	74	a	a	DET
fbem-30759	132	75	very	very	ADV
fbem-30759	132	76	good	good	ADJ
fbem-30759	132	77	fit	fit	NOUN
fbem-30759	132	78	.	.	PUNCT
fbem-30759	133	1	in	in	ADP
fbem-30759	133	2	addition	addition	NOUN
fbem-30759	133	3	,	,	PUNCT
fbem-30759	133	4	the	the	DET
fbem-30759	133	5	f	f	NOUN
fbem-30759	133	6	-	-	PUNCT
fbem-30759	133	7	test	test	NOUN
fbem-30759	133	8	result	result	NOUN
fbem-30759	133	9	is	be	AUX
fbem-30759	133	10	significant	significant	ADJ
fbem-30759	133	11	,	,	PUNCT
fbem-30759	133	12	further	far	ADV
fbem-30759	133	13	verifying	verify	VERB
fbem-30759	133	14	the	the	DET
fbem-30759	133	15	good	good	ADJ
fbem-30759	133	16	fit	fit	NOUN
fbem-30759	133	17	of	of	ADP
fbem-30759	133	18	the	the	DET
fbem-30759	133	19	model	model	NOUN
fbem-30759	133	20	.	.	PUNCT
fbem-30759	134	1	according	accord	VERB
fbem-30759	134	2	to	to	ADP
fbem-30759	134	3	the	the	DET
fbem-30759	134	4	regression	regression	NOUN
fbem-30759	134	5	equation	equation	NOUN
fbem-30759	134	6	(	(	PUNCT
fbem-30759	134	7	3.2	3.2	NUM
fbem-30759	134	8	)	)	PUNCT
fbem-30759	134	9	,	,	PUNCT
fbem-30759	134	10	an	an	DET
fbem-30759	134	11	increase	increase	NOUN
fbem-30759	134	12	of	of	ADP
fbem-30759	134	13	one	one	NUM
fbem-30759	134	14	unit	unit	NOUN
fbem-30759	134	15	in	in	ADP
fbem-30759	134	16	lnx2	lnx2	PROPN
fbem-30759	134	17	leads	lead	VERB
fbem-30759	134	18	to	to	ADP
fbem-30759	134	19	a	a	DET
fbem-30759	134	20	decrease	decrease	NOUN
fbem-30759	134	21	of	of	ADP
fbem-30759	134	22	0.002431	0.002431	NUM
fbem-30759	134	23	units	unit	NOUN
fbem-30759	134	24	in	in	ADP
fbem-30759	134	25	lny	lny	PROPN
fbem-30759	134	26	;	;	PUNCT
fbem-30759	134	27	an	an	DET
fbem-30759	134	28	increase	increase	NOUN
fbem-30759	134	29	of	of	ADP
fbem-30759	134	30	one	one	NUM
fbem-30759	134	31	unit	unit	NOUN
fbem-30759	134	32	in	in	ADP
fbem-30759	134	33	lnx3	lnx3	PROPN
fbem-30759	134	34	leads	lead	VERB
fbem-30759	134	35	to	to	ADP
fbem-30759	134	36	a	a	DET
fbem-30759	134	37	decrease	decrease	NOUN
fbem-30759	134	38	of	of	ADP
fbem-30759	134	39	0.614014	0.614014	NUM
fbem-30759	134	40	units	unit	NOUN
fbem-30759	134	41	in	in	ADP
fbem-30759	134	42	lny	lny	PROPN
fbem-30759	134	43	;	;	PUNCT
fbem-30759	134	44	an	an	DET
fbem-30759	134	45	increase	increase	NOUN
fbem-30759	134	46	of	of	ADP
fbem-30759	134	47	one	one	NUM
fbem-30759	134	48	unit	unit	NOUN
fbem-30759	134	49	in	in	ADP
fbem-30759	134	50	lnx5	lnx5	PROPN
fbem-30759	134	51	leads	lead	VERB
fbem-30759	134	52	to	to	ADP
fbem-30759	134	53	an	an	DET
fbem-30759	134	54	increase	increase	NOUN
fbem-30759	134	55	of	of	ADP
fbem-30759	134	56	0.636886	0.636886	NUM
fbem-30759	134	57	units	unit	NOUN
fbem-30759	134	58	in	in	ADP
fbem-30759	134	59	lny	lny	PROPN
fbem-30759	134	60	.	.	PUNCT
fbem-30759	135	1	that	that	PRON
fbem-30759	135	2	is	be	AUX
fbem-30759	135	3	,	,	PUNCT
fbem-30759	135	4	the	the	DET
fbem-30759	135	5	exchange	exchange	NOUN
fbem-30759	135	6	rate	rate	NOUN
fbem-30759	135	7	appreciates	appreciate	VERB
fbem-30759	135	8	with	with	ADP
fbem-30759	135	9	the	the	DET
fbem-30759	135	10	increase	increase	NOUN
fbem-30759	135	11	in	in	ADP
fbem-30759	135	12	gdp	gdp	NOUN
fbem-30759	135	13	,	,	PUNCT
fbem-30759	135	14	depreciates	depreciate	VERB
fbem-30759	135	15	with	with	ADP
fbem-30759	135	16	the	the	DET
fbem-30759	135	17	increase	increase	NOUN
fbem-30759	135	18	in	in	ADP
fbem-30759	135	19	money	money	NOUN
fbem-30759	135	20	supply	supply	NOUN
fbem-30759	135	21	,	,	PUNCT
fbem-30759	135	22	and	and	CCONJ
fbem-30759	135	23	appreciates	appreciate	VERB
fbem-30759	135	24	with	with	ADP
fbem-30759	135	25	the	the	DET
fbem-30759	135	26	increase	increase	NOUN
fbem-30759	135	27	in	in	ADP
fbem-30759	135	28	the	the	DET
fbem-30759	135	29	scale	scale	NOUN
fbem-30759	135	30	of	of	ADP
fbem-30759	135	31	foreign	foreign	ADJ
fbem-30759	135	32	exchange	exchange	NOUN
fbem-30759	135	33	reserves	reserve	NOUN
fbem-30759	135	34	.	.	PUNCT
fbem-30759	136	1	4	4	X
fbem-30759	136	2	.	.	X
fbem-30759	136	3	conclusions	conclusion	NOUN
fbem-30759	136	4	and	and	CCONJ
fbem-30759	136	5	recommendations	recommendation	NOUN
fbem-30759	136	6	4.1	4.1	NUM
fbem-30759	136	7	.	.	PUNCT
fbem-30759	137	1	conclusions	conclusion	NOUN
fbem-30759	137	2	based	base	VERB
fbem-30759	137	3	on	on	ADP
fbem-30759	137	4	theoretical	theoretical	ADJ
fbem-30759	137	5	analysis	analysis	NOUN
fbem-30759	137	6	,	,	PUNCT
fbem-30759	137	7	this	this	DET
fbem-30759	137	8	paper	paper	NOUN
fbem-30759	137	9	constructs	construct	VERB
fbem-30759	137	10	a	a	DET
fbem-30759	137	11	var	var	NOUN
fbem-30759	137	12	model	model	NOUN
fbem-30759	137	13	using	use	VERB
fbem-30759	137	14	the	the	DET
fbem-30759	137	15	trade	trade	NOUN
fbem-30759	137	16	balance	balance	NOUN
fbem-30759	137	17	,	,	PUNCT
fbem-30759	137	18	gross	gross	ADJ
fbem-30759	137	19	domestic	domestic	ADJ
fbem-30759	137	20	product	product	NOUN
fbem-30759	137	21	(	(	PUNCT
fbem-30759	137	22	gdp	gdp	NOUN
fbem-30759	137	23	)	)	PUNCT
fbem-30759	137	24	,	,	PUNCT
fbem-30759	137	25	and	and	CCONJ
fbem-30759	137	26	money	money	NOUN
fbem-30759	137	27	supply	supply	NOUN
fbem-30759	137	28	as	as	ADP
fbem-30759	137	29	indicators	indicator	NOUN
fbem-30759	137	30	of	of	ADP
fbem-30759	137	31	economic	economic	ADJ
fbem-30759	137	32	fluctuations	fluctuation	NOUN
fbem-30759	137	33	.	.	PUNCT
fbem-30759	138	1	it	it	PRON
fbem-30759	138	2	also	also	ADV
fbem-30759	138	3	empirically	empirically	ADV
fbem-30759	138	4	analyzes	analyze	VERB
fbem-30759	138	5	the	the	DET
fbem-30759	138	6	impact	impact	NOUN
fbem-30759	138	7	of	of	ADP
fbem-30759	138	8	exchange	exchange	NOUN
fbem-30759	138	9	rate	rate	NOUN
fbem-30759	138	10	changes	change	NOUN
fbem-30759	138	11	on	on	ADP
fbem-30759	138	12	economic	economic	ADJ
fbem-30759	138	13	fluctuations	fluctuation	NOUN
fbem-30759	138	14	in	in	ADP
fbem-30759	138	15	china	china	PROPN
fbem-30759	138	16	through	through	ADP
fbem-30759	138	17	granger	granger	PROPN
fbem-30759	138	18	causality	causality	NOUN
fbem-30759	138	19	tests	test	NOUN
fbem-30759	138	20	.	.	PUNCT
fbem-30759	139	1	the	the	DET
fbem-30759	139	2	main	main	ADJ
fbem-30759	139	3	conclusions	conclusion	NOUN
fbem-30759	139	4	are	be	AUX
fbem-30759	139	5	as	as	SCONJ
fbem-30759	139	6	follows	follow	VERB
fbem-30759	139	7	:	:	PUNCT
fbem-30759	139	8	(	(	PUNCT
fbem-30759	139	9	1	1	X
fbem-30759	139	10	)	)	PUNCT
fbem-30759	139	11	china	china	PROPN
fbem-30759	139	12	's	's	PART
fbem-30759	139	13	strong	strong	ADJ
fbem-30759	139	14	comprehensive	comprehensive	ADJ
fbem-30759	139	15	national	national	ADJ
fbem-30759	139	16	power	power	NOUN
fbem-30759	139	17	is	be	AUX
fbem-30759	139	18	an	an	DET
fbem-30759	139	19	important	important	ADJ
fbem-30759	139	20	safeguard	safeguard	NOUN
fbem-30759	139	21	for	for	ADP
fbem-30759	139	22	economic	economic	ADJ
fbem-30759	139	23	fluctuations	fluctuation	NOUN
fbem-30759	139	24	.	.	PUNCT
fbem-30759	140	1	frequent	frequent	ADJ
fbem-30759	140	2	foreign	foreign	ADJ
fbem-30759	140	3	trade	trade	NOUN
fbem-30759	140	4	and	and	CCONJ
fbem-30759	140	5	international	international	ADJ
fbem-30759	140	6	settlements	settlement	NOUN
fbem-30759	140	7	are	be	AUX
fbem-30759	140	8	practical	practical	ADJ
fbem-30759	140	9	demands	demand	NOUN
fbem-30759	140	10	for	for	ADP
fbem-30759	140	11	economic	economic	ADJ
fbem-30759	140	12	fluctuations	fluctuation	NOUN
fbem-30759	140	13	.	.	PUNCT
fbem-30759	141	1	exchange	exchange	NOUN
fbem-30759	141	2	rate	rate	NOUN
fbem-30759	141	3	86	86	NUM
fbem-30759	141	4	fluctuations	fluctuation	NOUN
fbem-30759	141	5	also	also	ADV
fbem-30759	141	6	have	have	VERB
fbem-30759	141	7	a	a	DET
fbem-30759	141	8	significant	significant	ADJ
fbem-30759	141	9	impact	impact	NOUN
fbem-30759	141	10	on	on	ADP
fbem-30759	141	11	economic	economic	ADJ
fbem-30759	141	12	fluctuations	fluctuation	NOUN
fbem-30759	141	13	,	,	PUNCT
fbem-30759	141	14	especially	especially	ADV
fbem-30759	141	15	when	when	SCONJ
fbem-30759	141	16	economic	economic	ADJ
fbem-30759	141	17	fluctuations	fluctuation	NOUN
fbem-30759	141	18	are	be	AUX
fbem-30759	141	19	in	in	ADP
fbem-30759	141	20	the	the	DET
fbem-30759	141	21	early	early	ADJ
fbem-30759	141	22	stages	stage	NOUN
fbem-30759	141	23	.	.	PUNCT
fbem-30759	142	1	if	if	SCONJ
fbem-30759	142	2	china	china	PROPN
fbem-30759	142	3	's	's	PART
fbem-30759	142	4	exchange	exchange	NOUN
fbem-30759	142	5	rate	rate	NOUN
fbem-30759	142	6	reform	reform	NOUN
fbem-30759	142	7	can	can	AUX
fbem-30759	142	8	not	not	PART
fbem-30759	142	9	adapt	adapt	VERB
fbem-30759	142	10	to	to	ADP
fbem-30759	142	11	economic	economic	ADJ
fbem-30759	142	12	fluctuations	fluctuation	NOUN
fbem-30759	142	13	,	,	PUNCT
fbem-30759	142	14	it	it	PRON
fbem-30759	142	15	may	may	AUX
fbem-30759	142	16	have	have	VERB
fbem-30759	142	17	an	an	DET
fbem-30759	142	18	impact	impact	NOUN
fbem-30759	142	19	on	on	ADP
fbem-30759	142	20	china	china	PROPN
fbem-30759	142	21	's	's	PART
fbem-30759	142	22	macroeconomy	macroeconomy	NOUN
fbem-30759	142	23	,	,	PUNCT
fbem-30759	142	24	thereby	thereby	ADV
fbem-30759	142	25	causing	cause	VERB
fbem-30759	142	26	the	the	DET
fbem-30759	142	27	level	level	NOUN
fbem-30759	142	28	of	of	ADP
fbem-30759	142	29	economic	economic	ADJ
fbem-30759	142	30	fluctuations	fluctuation	NOUN
fbem-30759	142	31	to	to	ADP
fbem-30759	142	32	regress	regress	NOUN
fbem-30759	142	33	.	.	PUNCT
fbem-30759	143	1	(	(	PUNCT
fbem-30759	143	2	2	2	X
fbem-30759	143	3	)	)	PUNCT
fbem-30759	143	4	the	the	DET
fbem-30759	143	5	empirical	empirical	ADJ
fbem-30759	143	6	analysis	analysis	NOUN
fbem-30759	143	7	results	result	NOUN
fbem-30759	143	8	show	show	VERB
fbem-30759	143	9	that	that	SCONJ
fbem-30759	143	10	there	there	PRON
fbem-30759	143	11	is	be	VERB
fbem-30759	143	12	a	a	DET
fbem-30759	143	13	positive	positive	ADJ
fbem-30759	143	14	correlation	correlation	NOUN
fbem-30759	143	15	between	between	ADP
fbem-30759	143	16	china	china	PROPN
fbem-30759	143	17	's	's	PART
fbem-30759	143	18	gdp	gdp	NOUN
fbem-30759	143	19	and	and	CCONJ
fbem-30759	143	20	exchange	exchange	NOUN
fbem-30759	143	21	rate	rate	NOUN
fbem-30759	143	22	changes	change	NOUN
fbem-30759	143	23	.	.	PUNCT
fbem-30759	144	1	the	the	DET
fbem-30759	144	2	exchange	exchange	NOUN
fbem-30759	144	3	rate	rate	NOUN
fbem-30759	144	4	increases	increase	VERB
fbem-30759	144	5	with	with	ADP
fbem-30759	144	6	the	the	DET
fbem-30759	144	7	growth	growth	NOUN
fbem-30759	144	8	of	of	ADP
fbem-30759	144	9	gdp	gdp	NOUN
fbem-30759	144	10	,	,	PUNCT
fbem-30759	144	11	and	and	CCONJ
fbem-30759	144	12	the	the	DET
fbem-30759	144	13	rmb	rmb	NOUN
fbem-30759	144	14	appreciates	appreciate	VERB
fbem-30759	144	15	.	.	PUNCT
fbem-30759	145	1	there	there	PRON
fbem-30759	145	2	is	be	VERB
fbem-30759	145	3	a	a	DET
fbem-30759	145	4	negative	negative	ADJ
fbem-30759	145	5	correlation	correlation	NOUN
fbem-30759	145	6	between	between	ADP
fbem-30759	145	7	china	china	PROPN
fbem-30759	145	8	's	's	PART
fbem-30759	145	9	money	money	NOUN
fbem-30759	145	10	supply	supply	NOUN
fbem-30759	145	11	and	and	CCONJ
fbem-30759	145	12	exchange	exchange	NOUN
fbem-30759	145	13	rate	rate	NOUN
fbem-30759	145	14	.	.	PUNCT
fbem-30759	146	1	the	the	DET
fbem-30759	146	2	money	money	NOUN
fbem-30759	146	3	supply	supply	NOUN
fbem-30759	146	4	can	can	AUX
fbem-30759	146	5	indirectly	indirectly	ADV
fbem-30759	146	6	affect	affect	VERB
fbem-30759	146	7	the	the	DET
fbem-30759	146	8	exchange	exchange	NOUN
fbem-30759	146	9	rate	rate	NOUN
fbem-30759	146	10	by	by	ADP
fbem-30759	146	11	influencing	influence	VERB
fbem-30759	146	12	the	the	DET
fbem-30759	146	13	relative	relative	ADJ
fbem-30759	146	14	inflation	inflation	NOUN
fbem-30759	146	15	rate	rate	NOUN
fbem-30759	146	16	,	,	PUNCT
fbem-30759	146	17	relative	relative	ADJ
fbem-30759	146	18	interest	interest	NOUN
fbem-30759	146	19	rate	rate	NOUN
fbem-30759	146	20	,	,	PUNCT
fbem-30759	146	21	and	and	CCONJ
fbem-30759	146	22	expected	expect	VERB
fbem-30759	146	23	exchange	exchange	NOUN
fbem-30759	146	24	rate	rate	NOUN
fbem-30759	146	25	.	.	PUNCT
fbem-30759	147	1	it	it	PRON
fbem-30759	147	2	can	can	AUX
fbem-30759	147	3	also	also	ADV
fbem-30759	147	4	directly	directly	ADV
fbem-30759	147	5	affect	affect	VERB
fbem-30759	147	6	the	the	DET
fbem-30759	147	7	exchange	exchange	NOUN
fbem-30759	147	8	rate	rate	NOUN
fbem-30759	147	9	by	by	ADP
fbem-30759	147	10	influencing	influence	VERB
fbem-30759	147	11	the	the	DET
fbem-30759	147	12	total	total	ADJ
fbem-30759	147	13	demand	demand	NOUN
fbem-30759	147	14	and	and	CCONJ
fbem-30759	147	15	supply	supply	NOUN
fbem-30759	147	16	of	of	ADP
fbem-30759	147	17	money	money	NOUN
fbem-30759	147	18	.	.	PUNCT
fbem-30759	148	1	the	the	PRON
fbem-30759	148	2	larger	large	ADJ
fbem-30759	148	3	the	the	DET
fbem-30759	148	4	scale	scale	NOUN
fbem-30759	148	5	of	of	ADP
fbem-30759	148	6	foreign	foreign	ADJ
fbem-30759	148	7	exchange	exchange	NOUN
fbem-30759	148	8	reserves	reserve	NOUN
fbem-30759	148	9	,	,	PUNCT
fbem-30759	148	10	the	the	PRON
fbem-30759	148	11	greater	great	ADJ
fbem-30759	148	12	the	the	DET
fbem-30759	148	13	demand	demand	NOUN
fbem-30759	148	14	for	for	ADP
fbem-30759	148	15	the	the	DET
fbem-30759	148	16	domestic	domestic	ADJ
fbem-30759	148	17	currency	currency	NOUN
fbem-30759	148	18	,	,	PUNCT
fbem-30759	148	19	and	and	CCONJ
fbem-30759	148	20	the	the	PRON
fbem-30759	148	21	more	more	ADV
fbem-30759	148	22	the	the	DET
fbem-30759	148	23	domestic	domestic	ADJ
fbem-30759	148	24	currency	currency	NOUN
fbem-30759	148	25	appreciates	appreciate	VERB
fbem-30759	148	26	.	.	PUNCT
fbem-30759	149	1	4.2	4.2	NUM
fbem-30759	149	2	.	.	PUNCT
fbem-30759	150	1	policy	policy	NOUN
fbem-30759	150	2	recommendations	recommendation	NOUN
fbem-30759	150	3	based	base	VERB
fbem-30759	150	4	on	on	ADP
fbem-30759	150	5	the	the	DET
fbem-30759	150	6	research	research	NOUN
fbem-30759	150	7	of	of	ADP
fbem-30759	150	8	this	this	DET
fbem-30759	150	9	paper	paper	NOUN
fbem-30759	150	10	,	,	PUNCT
fbem-30759	150	11	the	the	DET
fbem-30759	150	12	following	follow	VERB
fbem-30759	150	13	suggestions	suggestion	NOUN
fbem-30759	150	14	can	can	AUX
fbem-30759	150	15	be	be	AUX
fbem-30759	150	16	made	make	VERB
fbem-30759	150	17	for	for	ADP
fbem-30759	150	18	the	the	DET
fbem-30759	150	19	reform	reform	NOUN
fbem-30759	150	20	of	of	ADP
fbem-30759	150	21	china	china	PROPN
fbem-30759	150	22	's	's	PART
fbem-30759	150	23	exchange	exchange	NOUN
fbem-30759	150	24	rate	rate	NOUN
fbem-30759	150	25	formation	formation	NOUN
fbem-30759	150	26	mechanism	mechanism	NOUN
fbem-30759	150	27	and	and	CCONJ
fbem-30759	150	28	the	the	DET
fbem-30759	150	29	improvement	improvement	NOUN
fbem-30759	150	30	of	of	ADP
fbem-30759	150	31	the	the	DET
fbem-30759	150	32	level	level	NOUN
fbem-30759	150	33	of	of	ADP
fbem-30759	150	34	economic	economic	ADJ
fbem-30759	150	35	fluctuations	fluctuation	NOUN
fbem-30759	150	36	:	:	PUNCT
fbem-30759	150	37	(	(	PUNCT
fbem-30759	150	38	1	1	X
fbem-30759	150	39	)	)	PUNCT
fbem-30759	150	40	exchange	exchange	NOUN
fbem-30759	150	41	rate	rate	NOUN
fbem-30759	150	42	marketization	marketization	NOUN
fbem-30759	150	43	reform	reform	NOUN
fbem-30759	150	44	should	should	AUX
fbem-30759	150	45	still	still	ADV
fbem-30759	150	46	follow	follow	VERB
fbem-30759	150	47	a	a	DET
fbem-30759	150	48	gradual	gradual	ADJ
fbem-30759	150	49	approach	approach	NOUN
fbem-30759	150	50	to	to	PART
fbem-30759	150	51	make	make	VERB
fbem-30759	150	52	exchange	exchange	NOUN
fbem-30759	150	53	rate	rate	NOUN
fbem-30759	150	54	fluctuations	fluctuation	NOUN
fbem-30759	150	55	more	more	ADV
fbem-30759	150	56	flexible	flexible	ADJ
fbem-30759	150	57	.	.	PUNCT
fbem-30759	151	1	therefore	therefore	ADV
fbem-30759	151	2	,	,	PUNCT
fbem-30759	151	3	china	china	PROPN
fbem-30759	151	4	should	should	AUX
fbem-30759	151	5	continue	continue	VERB
fbem-30759	151	6	to	to	PART
fbem-30759	151	7	maintain	maintain	VERB
fbem-30759	151	8	a	a	DET
fbem-30759	151	9	managed	manage	VERB
fbem-30759	151	10	floating	float	VERB
fbem-30759	151	11	exchange	exchange	NOUN
fbem-30759	151	12	rate	rate	NOUN
fbem-30759	151	13	system	system	NOUN
fbem-30759	151	14	based	base	VERB
fbem-30759	151	15	on	on	ADP
fbem-30759	151	16	market	market	NOUN
fbem-30759	151	17	supply	supply	NOUN
fbem-30759	151	18	and	and	CCONJ
fbem-30759	151	19	demand	demand	NOUN
fbem-30759	151	20	,	,	PUNCT
fbem-30759	151	21	which	which	PRON
fbem-30759	151	22	can	can	AUX
fbem-30759	151	23	buffer	buffer	VERB
fbem-30759	151	24	external	external	ADJ
fbem-30759	151	25	shocks	shock	NOUN
fbem-30759	151	26	through	through	ADP
fbem-30759	151	27	exchange	exchange	NOUN
fbem-30759	151	28	rate	rate	NOUN
fbem-30759	151	29	fluctuations	fluctuation	NOUN
fbem-30759	151	30	.	.	PUNCT
fbem-30759	152	1	for	for	ADP
fbem-30759	152	2	china	china	PROPN
fbem-30759	152	3	,	,	PUNCT
fbem-30759	152	4	if	if	SCONJ
fbem-30759	152	5	a	a	DET
fbem-30759	152	6	fully	fully	ADV
fbem-30759	152	7	free	free	ADV
fbem-30759	152	8	-	-	PUNCT
fbem-30759	152	9	floating	float	VERB
fbem-30759	152	10	exchange	exchange	NOUN
fbem-30759	152	11	rate	rate	NOUN
fbem-30759	152	12	system	system	NOUN
fbem-30759	152	13	is	be	AUX
fbem-30759	152	14	to	to	PART
fbem-30759	152	15	be	be	AUX
fbem-30759	152	16	directly	directly	ADV
fbem-30759	152	17	chosen	choose	VERB
fbem-30759	152	18	at	at	ADP
fbem-30759	152	19	this	this	DET
fbem-30759	152	20	stage	stage	NOUN
fbem-30759	152	21	,	,	PUNCT
fbem-30759	152	22	it	it	PRON
fbem-30759	152	23	must	must	AUX
fbem-30759	152	24	be	be	AUX
fbem-30759	152	25	based	base	VERB
fbem-30759	152	26	on	on	ADP
fbem-30759	152	27	a	a	DET
fbem-30759	152	28	liquid	liquid	ADJ
fbem-30759	152	29	foreign	foreign	ADJ
fbem-30759	152	30	exchange	exchange	NOUN
fbem-30759	152	31	market	market	NOUN
fbem-30759	152	32	and	and	CCONJ
fbem-30759	152	33	a	a	DET
fbem-30759	152	34	strong	strong	ADJ
fbem-30759	152	35	financial	financial	ADJ
fbem-30759	152	36	regulatory	regulatory	ADJ
fbem-30759	152	37	system	system	NOUN
fbem-30759	152	38	.	.	PUNCT
fbem-30759	153	1	otherwise	otherwise	ADV
fbem-30759	153	2	,	,	PUNCT
fbem-30759	153	3	it	it	PRON
fbem-30759	153	4	will	will	AUX
fbem-30759	153	5	bring	bring	VERB
fbem-30759	153	6	great	great	ADJ
fbem-30759	153	7	risks	risk	NOUN
fbem-30759	153	8	,	,	PUNCT
fbem-30759	153	9	which	which	PRON
fbem-30759	153	10	may	may	AUX
fbem-30759	153	11	cause	cause	VERB
fbem-30759	153	12	large	large	ADJ
fbem-30759	153	13	exchange	exchange	NOUN
fbem-30759	153	14	rate	rate	NOUN
fbem-30759	153	15	fluctuations	fluctuation	NOUN
fbem-30759	153	16	.	.	PUNCT
fbem-30759	154	1	speculators	speculator	NOUN
fbem-30759	154	2	will	will	AUX
fbem-30759	154	3	engage	engage	VERB
fbem-30759	154	4	in	in	ADP
fbem-30759	154	5	speculation	speculation	NOUN
fbem-30759	154	6	,	,	PUNCT
fbem-30759	154	7	increasing	increase	VERB
fbem-30759	154	8	the	the	DET
fbem-30759	154	9	probability	probability	NOUN
fbem-30759	154	10	of	of	ADP
fbem-30759	154	11	currency	currency	NOUN
fbem-30759	154	12	crises	crisis	NOUN
fbem-30759	154	13	and	and	CCONJ
fbem-30759	154	14	leading	lead	VERB
fbem-30759	154	15	to	to	ADP
fbem-30759	154	16	macroeconomic	macroeconomic	ADJ
fbem-30759	154	17	deterioration	deterioration	NOUN
fbem-30759	154	18	.	.	PUNCT
fbem-30759	155	1	(	(	PUNCT
fbem-30759	155	2	2	2	X
fbem-30759	155	3	)	)	PUNCT
fbem-30759	155	4	promote	promote	VERB
fbem-30759	155	5	exports	export	NOUN
fbem-30759	155	6	.	.	PUNCT
fbem-30759	156	1	exports	export	NOUN
fbem-30759	156	2	are	be	AUX
fbem-30759	156	3	an	an	DET
fbem-30759	156	4	important	important	ADJ
fbem-30759	156	5	pillar	pillar	NOUN
fbem-30759	156	6	of	of	ADP
fbem-30759	156	7	china	china	PROPN
fbem-30759	156	8	's	's	PART
fbem-30759	156	9	economy	economy	NOUN
fbem-30759	156	10	and	and	CCONJ
fbem-30759	156	11	are	be	AUX
fbem-30759	156	12	of	of	ADP
fbem-30759	156	13	great	great	ADJ
fbem-30759	156	14	significance	significance	NOUN
fbem-30759	156	15	for	for	ADP
fbem-30759	156	16	promoting	promote	VERB
fbem-30759	156	17	the	the	DET
fbem-30759	156	18	growth	growth	NOUN
fbem-30759	156	19	and	and	CCONJ
fbem-30759	156	20	stability	stability	NOUN
fbem-30759	156	21	of	of	ADP
fbem-30759	156	22	gdp	gdp	PROPN
fbem-30759	156	23	.	.	PUNCT
fbem-30759	157	1	the	the	DET
fbem-30759	157	2	government	government	NOUN
fbem-30759	157	3	can	can	AUX
fbem-30759	157	4	promote	promote	VERB
fbem-30759	157	5	exports	export	NOUN
fbem-30759	157	6	by	by	ADP
fbem-30759	157	7	reducing	reduce	VERB
fbem-30759	157	8	tariffs	tariff	NOUN
fbem-30759	157	9	and	and	CCONJ
fbem-30759	157	10	increasing	increase	VERB
fbem-30759	157	11	export	export	NOUN
fbem-30759	157	12	tax	tax	NOUN
fbem-30759	157	13	rebates	rebate	NOUN
fbem-30759	157	14	,	,	PUNCT
fbem-30759	157	15	thereby	thereby	ADV
fbem-30759	157	16	increasing	increase	VERB
fbem-30759	157	17	foreign	foreign	ADJ
fbem-30759	157	18	exchange	exchange	NOUN
fbem-30759	157	19	earnings	earning	NOUN
fbem-30759	157	20	and	and	CCONJ
fbem-30759	157	21	stabilizing	stabilize	VERB
fbem-30759	157	22	the	the	DET
fbem-30759	157	23	exchange	exchange	NOUN
fbem-30759	157	24	rate	rate	NOUN
fbem-30759	157	25	.	.	PUNCT
fbem-30759	158	1	control	control	NOUN
fbem-30759	158	2	imports	import	NOUN
fbem-30759	158	3	.	.	PUNCT
fbem-30759	159	1	the	the	DET
fbem-30759	159	2	impact	impact	NOUN
fbem-30759	159	3	of	of	ADP
fbem-30759	159	4	imports	import	NOUN
fbem-30759	159	5	on	on	ADP
fbem-30759	159	6	gdp	gdp	NOUN
fbem-30759	159	7	and	and	CCONJ
fbem-30759	159	8	exchange	exchange	NOUN
fbem-30759	159	9	rate	rate	NOUN
fbem-30759	159	10	can	can	AUX
fbem-30759	159	11	not	not	PART
fbem-30759	159	12	be	be	AUX
fbem-30759	159	13	ignored	ignore	VERB
fbem-30759	159	14	.	.	PUNCT
fbem-30759	160	1	the	the	DET
fbem-30759	160	2	government	government	NOUN
fbem-30759	160	3	can	can	AUX
fbem-30759	160	4	control	control	VERB
fbem-30759	160	5	imports	import	NOUN
fbem-30759	160	6	by	by	ADP
fbem-30759	160	7	restricting	restrict	VERB
fbem-30759	160	8	imports	import	NOUN
fbem-30759	160	9	and	and	CCONJ
fbem-30759	160	10	strengthening	strengthen	VERB
fbem-30759	160	11	quality	quality	NOUN
fbem-30759	160	12	supervision	supervision	NOUN
fbem-30759	160	13	,	,	PUNCT
fbem-30759	160	14	thereby	thereby	ADV
fbem-30759	160	15	reducing	reduce	VERB
fbem-30759	160	16	foreign	foreign	ADJ
fbem-30759	160	17	exchange	exchange	NOUN
fbem-30759	160	18	expenditure	expenditure	NOUN
fbem-30759	160	19	and	and	CCONJ
fbem-30759	160	20	stabilizing	stabilize	VERB
fbem-30759	160	21	the	the	DET
fbem-30759	160	22	exchange	exchange	NOUN
fbem-30759	160	23	rate	rate	NOUN
fbem-30759	160	24	.	.	PUNCT
fbem-30759	161	1	(	(	PUNCT
fbem-30759	161	2	3	3	X
fbem-30759	161	3	)	)	PUNCT
fbem-30759	161	4	adopt	adopt	VERB
fbem-30759	161	5	appropriate	appropriate	ADJ
fbem-30759	161	6	monetary	monetary	ADJ
fbem-30759	161	7	policies	policy	NOUN
fbem-30759	161	8	to	to	PART
fbem-30759	161	9	stabilize	stabilize	VERB
fbem-30759	161	10	the	the	DET
fbem-30759	161	11	money	money	NOUN
fbem-30759	161	12	supply	supply	NOUN
fbem-30759	161	13	.	.	PUNCT
fbem-30759	162	1	the	the	DET
fbem-30759	162	2	impact	impact	NOUN
fbem-30759	162	3	of	of	ADP
fbem-30759	162	4	money	money	NOUN
fbem-30759	162	5	supply	supply	NOUN
fbem-30759	162	6	on	on	ADP
fbem-30759	162	7	exchange	exchange	NOUN
fbem-30759	162	8	rate	rate	NOUN
fbem-30759	162	9	and	and	CCONJ
fbem-30759	162	10	gdp	gdp	NOUN
fbem-30759	162	11	is	be	AUX
fbem-30759	162	12	also	also	ADV
fbem-30759	162	13	very	very	ADV
fbem-30759	162	14	important	important	ADJ
fbem-30759	162	15	.	.	PUNCT
fbem-30759	163	1	the	the	DET
fbem-30759	163	2	government	government	NOUN
fbem-30759	163	3	should	should	AUX
fbem-30759	163	4	stabilize	stabilize	VERB
fbem-30759	163	5	the	the	DET
fbem-30759	163	6	money	money	NOUN
fbem-30759	163	7	supply	supply	NOUN
fbem-30759	163	8	through	through	ADP
fbem-30759	163	9	reasonable	reasonable	ADJ
fbem-30759	163	10	monetary	monetary	ADJ
fbem-30759	163	11	policies	policy	NOUN
fbem-30759	163	12	to	to	PART
fbem-30759	163	13	maintain	maintain	VERB
fbem-30759	163	14	exchange	exchange	NOUN
fbem-30759	163	15	rate	rate	NOUN
fbem-30759	163	16	stability	stability	NOUN
fbem-30759	163	17	and	and	CCONJ
fbem-30759	163	18	promote	promote	VERB
fbem-30759	163	19	gdp	gdp	NOUN
fbem-30759	163	20	growth	growth	NOUN
fbem-30759	163	21	.	.	PUNCT
fbem-30759	164	1	(	(	PUNCT
fbem-30759	164	2	4	4	X
fbem-30759	164	3	)	)	PUNCT
fbem-30759	164	4	optimize	optimize	VERB
fbem-30759	164	5	the	the	DET
fbem-30759	164	6	trade	trade	NOUN
fbem-30759	164	7	structure	structure	NOUN
fbem-30759	164	8	and	and	CCONJ
fbem-30759	164	9	increase	increase	VERB
fbem-30759	164	10	foreign	foreign	ADJ
fbem-30759	164	11	exchange	exchange	NOUN
fbem-30759	164	12	earnings	earning	NOUN
fbem-30759	164	13	.	.	PUNCT
fbem-30759	165	1	the	the	DET
fbem-30759	165	2	government	government	NOUN
fbem-30759	165	3	can	can	AUX
fbem-30759	165	4	adjust	adjust	VERB
fbem-30759	165	5	the	the	DET
fbem-30759	165	6	trade	trade	NOUN
fbem-30759	165	7	structure	structure	NOUN
fbem-30759	165	8	,	,	PUNCT
fbem-30759	165	9	strengthen	strengthen	VERB
fbem-30759	165	10	the	the	DET
fbem-30759	165	11	production	production	NOUN
fbem-30759	165	12	and	and	CCONJ
fbem-30759	165	13	export	export	NOUN
fbem-30759	165	14	of	of	ADP
fbem-30759	165	15	high	high	ADJ
fbem-30759	165	16	valueadded	valueadde	VERB
fbem-30759	165	17	products	product	NOUN
fbem-30759	165	18	,	,	PUNCT
fbem-30759	165	19	improve	improve	VERB
fbem-30759	165	20	the	the	DET
fbem-30759	165	21	quality	quality	NOUN
fbem-30759	165	22	and	and	CCONJ
fbem-30759	165	23	added	add	VERB
fbem-30759	165	24	value	value	NOUN
fbem-30759	165	25	of	of	ADP
fbem-30759	165	26	export	export	NOUN
fbem-30759	165	27	products	product	NOUN
fbem-30759	165	28	,	,	PUNCT
fbem-30759	165	29	and	and	CCONJ
fbem-30759	165	30	increase	increase	VERB
fbem-30759	165	31	foreign	foreign	ADJ
fbem-30759	165	32	exchange	exchange	NOUN
fbem-30759	165	33	earnings	earning	NOUN
fbem-30759	165	34	,	,	PUNCT
fbem-30759	165	35	thereby	thereby	ADV
fbem-30759	165	36	increasing	increase	VERB
fbem-30759	165	37	the	the	DET
fbem-30759	165	38	scale	scale	NOUN
fbem-30759	165	39	of	of	ADP
fbem-30759	165	40	foreign	foreign	ADJ
fbem-30759	165	41	exchange	exchange	NOUN
fbem-30759	165	42	reserves	reserve	NOUN
fbem-30759	165	43	.	.	PUNCT
fbem-30759	166	1	in	in	ADP
fbem-30759	166	2	addition	addition	NOUN
fbem-30759	166	3	,	,	PUNCT
fbem-30759	166	4	the	the	DET
fbem-30759	166	5	government	government	NOUN
fbem-30759	166	6	can	can	AUX
fbem-30759	166	7	also	also	ADV
fbem-30759	166	8	encourage	encourage	VERB
fbem-30759	166	9	enterprises	enterprise	NOUN
fbem-30759	166	10	to	to	PART
fbem-30759	166	11	go	go	VERB
fbem-30759	166	12	global	global	ADJ
fbem-30759	166	13	,	,	PUNCT
fbem-30759	166	14	actively	actively	ADV
fbem-30759	166	15	engage	engage	VERB
fbem-30759	166	16	in	in	ADP
fbem-30759	166	17	foreign	foreign	ADJ
fbem-30759	166	18	investment	investment	NOUN
fbem-30759	166	19	,	,	PUNCT
fbem-30759	166	20	increase	increase	VERB
fbem-30759	166	21	overseas	overseas	ADJ
fbem-30759	166	22	income	income	NOUN
fbem-30759	166	23	,	,	PUNCT
fbem-30759	166	24	and	and	CCONJ
fbem-30759	166	25	further	far	ADV
fbem-30759	166	26	increase	increase	VERB
fbem-30759	166	27	the	the	DET
fbem-30759	166	28	scale	scale	NOUN
fbem-30759	166	29	of	of	ADP
fbem-30759	166	30	foreign	foreign	ADJ
fbem-30759	166	31	exchange	exchange	NOUN
fbem-30759	166	32	reserves	reserve	NOUN
fbem-30759	166	33	.	.	PUNCT
fbem-30759	167	1	in	in	ADP
fbem-30759	167	2	summary	summary	NOUN
fbem-30759	167	3	,	,	PUNCT
fbem-30759	167	4	the	the	DET
fbem-30759	167	5	government	government	NOUN
fbem-30759	167	6	should	should	AUX
fbem-30759	167	7	take	take	VERB
fbem-30759	167	8	comprehensive	comprehensive	ADJ
fbem-30759	167	9	measures	measure	NOUN
fbem-30759	167	10	to	to	PART
fbem-30759	167	11	deal	deal	VERB
fbem-30759	167	12	with	with	ADP
fbem-30759	167	13	the	the	DET
fbem-30759	167	14	relationship	relationship	NOUN
fbem-30759	167	15	between	between	ADP
fbem-30759	167	16	gdp	gdp	NOUN
fbem-30759	167	17	,	,	PUNCT
fbem-30759	167	18	foreign	foreign	ADJ
fbem-30759	167	19	exchange	exchange	NOUN
fbem-30759	167	20	reserves	reserve	NOUN
fbem-30759	167	21	,	,	PUNCT
fbem-30759	167	22	money	money	NOUN
fbem-30759	167	23	supply	supply	NOUN
fbem-30759	167	24	,	,	PUNCT
fbem-30759	167	25	and	and	CCONJ
fbem-30759	167	26	exchange	exchange	NOUN
fbem-30759	167	27	rate	rate	NOUN
fbem-30759	167	28	.	.	PUNCT
fbem-30759	168	1	by	by	ADP
fbem-30759	168	2	optimizing	optimize	VERB
fbem-30759	168	3	the	the	DET
fbem-30759	168	4	trade	trade	NOUN
fbem-30759	168	5	structure	structure	NOUN
fbem-30759	168	6	and	and	CCONJ
fbem-30759	168	7	adopting	adopt	VERB
fbem-30759	168	8	appropriate	appropriate	ADJ
fbem-30759	168	9	monetary	monetary	ADJ
fbem-30759	168	10	policies	policy	NOUN
fbem-30759	168	11	to	to	PART
fbem-30759	168	12	stabilize	stabilize	VERB
fbem-30759	168	13	the	the	DET
fbem-30759	168	14	money	money	NOUN
fbem-30759	168	15	supply	supply	NOUN
fbem-30759	168	16	,	,	PUNCT
fbem-30759	168	17	the	the	DET
fbem-30759	168	18	stability	stability	NOUN
fbem-30759	168	19	and	and	CCONJ
fbem-30759	168	20	development	development	NOUN
fbem-30759	168	21	of	of	ADP
fbem-30759	168	22	the	the	DET
fbem-30759	168	23	economy	economy	NOUN
fbem-30759	168	24	can	can	AUX
fbem-30759	168	25	be	be	AUX
fbem-30759	168	26	promoted	promote	VERB
fbem-30759	168	27	.	.	PUNCT
fbem-30759	169	1	references	reference	NOUN
fbem-30759	169	2	[	[	X
fbem-30759	169	3	1	1	NUM
fbem-30759	169	4	]	]	X
fbem-30759	169	5	miao	miao	PROPN
fbem-30759	169	6	qi	qi	PROPN
fbem-30759	169	7	.	.	PUNCT
fbem-30759	170	1	where	where	SCONJ
fbem-30759	170	2	are	be	AUX
fbem-30759	170	3	the	the	DET
fbem-30759	170	4	opportunities	opportunity	NOUN
fbem-30759	170	5	for	for	ADP
fbem-30759	170	6	the	the	DET
fbem-30759	170	7	internationalization	internationalization	NOUN
fbem-30759	170	8	of	of	ADP
fbem-30759	170	9	the	the	DET
fbem-30759	170	10	rmb	rmb	NOUN
fbem-30759	170	11	in	in	ADP
fbem-30759	170	12	the	the	DET
fbem-30759	170	13	context	context	NOUN
fbem-30759	170	14	of	of	ADP
fbem-30759	170	15	exchange	exchange	NOUN
fbem-30759	170	16	rate	rate	NOUN
fbem-30759	170	17	fluctuations	fluctuation	NOUN
fbem-30759	170	18	and	and	CCONJ
fbem-30759	170	19	the	the	DET
fbem-30759	170	20	restructuring	restructuring	NOUN
fbem-30759	170	21	of	of	ADP
fbem-30759	170	22	the	the	DET
fbem-30759	170	23	global	global	ADJ
fbem-30759	170	24	industrial	industrial	ADJ
fbem-30759	170	25	chain	chain	NOUN
fbem-30759	170	26	?	?	PUNCT
fbem-30759	171	1	[	[	X
fbem-30759	171	2	n	n	X
fbem-30759	171	3	]	]	PUNCT
fbem-30759	171	4	.	.	PUNCT
fbem-30759	172	1	the	the	DET
fbem-30759	172	2	first	first	ADJ
fbem-30759	172	3	financial	financial	ADJ
fbem-30759	172	4	daily	daily	NOUN
fbem-30759	172	5	,	,	PUNCT
fbem-30759	172	6	2023	2023	NUM
fbem-30759	172	7	-	-	SYM
fbem-30759	172	8	08	08	NUM
fbem-30759	172	9	-	-	PUNCT
fbem-30759	172	10	23(a06	23(a06	NUM
fbem-30759	172	11	)	)	PUNCT
fbem-30759	172	12	.	.	PUNCT
fbem-30759	173	1	[	[	X
fbem-30759	173	2	2	2	NUM
fbem-30759	173	3	]	]	X
fbem-30759	173	4	fu	fu	PROPN
fbem-30759	173	5	nan	nan	PROPN
fbem-30759	173	6	,	,	PUNCT
fbem-30759	173	7	zhao	zhao	PROPN
fbem-30759	173	8	hongrui	hongrui	PROPN
fbem-30759	173	9	,	,	PUNCT
fbem-30759	173	10	zhao	zhao	PROPN
fbem-30759	173	11	ningning	ningning	NOUN
fbem-30759	173	12	.	.	PUNCT
fbem-30759	174	1	a	a	DET
fbem-30759	174	2	study	study	NOUN
fbem-30759	174	3	on	on	ADP
fbem-30759	174	4	the	the	DET
fbem-30759	174	5	impact	impact	NOUN
fbem-30759	174	6	of	of	ADP
fbem-30759	174	7	exchange	exchange	NOUN
fbem-30759	174	8	rate	rate	NOUN
fbem-30759	174	9	fluctuations	fluctuation	NOUN
fbem-30759	174	10	on	on	ADP
fbem-30759	174	11	china	china	PROPN
fbem-30759	174	12	's	's	PART
fbem-30759	174	13	service	service	NOUN
fbem-30759	174	14	trade	trade	NOUN
fbem-30759	175	1	[	[	X
fbem-30759	175	2	j	j	X
fbem-30759	175	3	]	]	X
fbem-30759	175	4	.	.	PUNCT
fbem-30759	176	1	special	special	ADJ
fbem-30759	176	2	zone	zone	NOUN
fbem-30759	176	3	economy	economy	NOUN
fbem-30759	176	4	,	,	PUNCT
fbem-30759	176	5	2023	2023	NUM
fbem-30759	176	6	,	,	PUNCT
fbem-30759	176	7	(	(	PUNCT
fbem-30759	176	8	07):26	07):26	NUM
fbem-30759	176	9	-	-	SYM
fbem-30759	176	10	29	29	NUM
fbem-30759	176	11	.	.	PUNCT
fbem-30759	177	1	[	[	X
fbem-30759	177	2	3	3	X
fbem-30759	177	3	]	]	X
fbem-30759	177	4	lu	lu	PROPN
fbem-30759	177	5	yan	yan	PROPN
fbem-30759	177	6	,	,	PUNCT
fbem-30759	177	7	li	li	PROPN
fbem-30759	177	8	shuang	shuang	PROPN
fbem-30759	177	9	.	.	PROPN
fbem-30759	177	10	currency	currency	NOUN
fbem-30759	177	11	substitution	substitution	NOUN
fbem-30759	177	12	,	,	PUNCT
fbem-30759	177	13	inflation	inflation	NOUN
fbem-30759	177	14	and	and	CCONJ
fbem-30759	177	15	rmb	rmb	PROPN
fbem-30759	177	16	exchange	exchange	NOUN
fbem-30759	177	17	rate	rate	NOUN
fbem-30759	177	18	fluctuations	fluctuation	NOUN
fbem-30759	177	19	—	—	PUNCT
fbem-30759	177	20	a	a	DET
fbem-30759	177	21	study	study	NOUN
fbem-30759	177	22	on	on	ADP
fbem-30759	177	23	the	the	DET
fbem-30759	177	24	feasibility	feasibility	NOUN
fbem-30759	177	25	of	of	ADP
fbem-30759	177	26	free	free	ADJ
fbem-30759	177	27	convertibility	convertibility	NOUN
fbem-30759	177	28	of	of	ADP
fbem-30759	177	29	the	the	DET
fbem-30759	177	30	rmb	rmb	NOUN
fbem-30759	178	1	[	[	X
fbem-30759	178	2	j	j	X
fbem-30759	178	3	]	]	X
fbem-30759	178	4	.	.	PUNCT
fbem-30759	179	1	shanghai	shanghai	PROPN
fbem-30759	179	2	economic	economic	ADJ
fbem-30759	179	3	research	research	PROPN
fbem-30759	179	4	,	,	PUNCT
fbem-30759	179	5	2022	2022	NUM
fbem-30759	179	6	,	,	PUNCT
fbem-30759	179	7	(	(	PUNCT
fbem-30759	179	8	07):103	07):103	NOUN
fbem-30759	179	9	-	-	SYM
fbem-30759	179	10	116	116	NUM
fbem-30759	179	11	.	.	PUNCT
fbem-30759	180	1	[	[	X
fbem-30759	180	2	4	4	NUM
fbem-30759	180	3	]	]	X
fbem-30759	180	4	dong	dong	PROPN
fbem-30759	180	5	guangyuan	guangyuan	PROPN
fbem-30759	180	6	.	.	PUNCT
fbem-30759	181	1	a	a	DET
fbem-30759	181	2	study	study	NOUN
fbem-30759	181	3	on	on	ADP
fbem-30759	181	4	the	the	DET
fbem-30759	181	5	issue	issue	NOUN
fbem-30759	181	6	of	of	ADP
fbem-30759	181	7	international	international	ADJ
fbem-30759	181	8	capital	capital	NOUN
fbem-30759	181	9	flows	flow	NOUN
fbem-30759	181	10	and	and	CCONJ
fbem-30759	181	11	rmb	rmb	PROPN
fbem-30759	181	12	exchange	exchange	NOUN
fbem-30759	181	13	rate	rate	NOUN
fbem-30759	181	14	fluctuations	fluctuation	NOUN
fbem-30759	182	1	[	[	X
fbem-30759	182	2	d	d	X
fbem-30759	182	3	]	]	X
fbem-30759	182	4	.	.	PUNCT
fbem-30759	183	1	university	university	NOUN
fbem-30759	183	2	of	of	ADP
fbem-30759	183	3	international	international	ADJ
fbem-30759	183	4	business	business	NOUN
fbem-30759	183	5	and	and	CCONJ
fbem-30759	183	6	economics	economic	NOUN
fbem-30759	183	7	,	,	PUNCT
fbem-30759	183	8	2022	2022	NUM
fbem-30759	183	9	.	.	PUNCT
fbem-30759	184	1	doi:10.27015	doi:10.27015	NOUN
fbem-30759	184	2	/	/	SYM
fbem-30759	184	3	d.cnki.gdwju.2022.000602	d.cnki.gdwju.2022.000602	NOUN
fbem-30759	184	4	.	.	PUNCT
fbem-30759	185	1	[	[	X
fbem-30759	185	2	5	5	X
fbem-30759	185	3	]	]	X
fbem-30759	185	4	chen	chen	PROPN
fbem-30759	185	5	lin	lin	PROPN
fbem-30759	185	6	,	,	PUNCT
fbem-30759	185	7	yuan	yuan	PROPN
fbem-30759	185	8	zhigang	zhigang	PROPN
fbem-30759	185	9	,	,	PUNCT
fbem-30759	185	10	zhu	zhu	PROPN
fbem-30759	185	11	yifan	yifan	PROPN
fbem-30759	185	12	.	.	PUNCT
fbem-30759	186	1	how	how	SCONJ
fbem-30759	186	2	does	do	AUX
fbem-30759	186	3	rmb	rmb	PROPN
fbem-30759	186	4	exchange	exchange	NOUN
fbem-30759	186	5	rate	rate	NOUN
fbem-30759	186	6	fluctuation	fluctuation	NOUN
fbem-30759	186	7	affect	affect	VERB
fbem-30759	186	8	the	the	DET
fbem-30759	186	9	outward	outward	ADJ
fbem-30759	186	10	foreign	foreign	ADJ
fbem-30759	186	11	direct	direct	ADJ
fbem-30759	186	12	investment	investment	NOUN
fbem-30759	186	13	of	of	ADP
fbem-30759	186	14	chinese	chinese	ADJ
fbem-30759	186	15	firms	firm	NOUN
fbem-30759	186	16	?	?	PUNCT
fbem-30759	187	1	[	[	X
fbem-30759	187	2	j	j	X
fbem-30759	187	3	]	]	X
fbem-30759	187	4	.	.	PUNCT
fbem-30759	188	1	journal	journal	PROPN
fbem-30759	188	2	of	of	ADP
fbem-30759	188	3	finance	finance	NOUN
fbem-30759	188	4	,	,	PUNCT
fbem-30759	188	5	2020	2020	NUM
fbem-30759	188	6	,	,	PUNCT
fbem-30759	188	7	(	(	PUNCT
fbem-30759	188	8	03):21	03):21	NOUN
fbem-30759	188	9	-	-	SYM
fbem-30759	188	10	38	38	NUM
fbem-30759	188	11	.	.	PUNCT
fbem-30759	189	1	[	[	X
fbem-30759	189	2	6	6	NUM
fbem-30759	189	3	]	]	PUNCT
fbem-30759	189	4	he	he	PRON
fbem-30759	189	5	jinqi	jinqi	PROPN
fbem-30759	189	6	,	,	PUNCT
fbem-30759	189	7	zhang	zhang	PROPN
fbem-30759	189	8	rui	rui	PROPN
fbem-30759	189	9	.	.	PUNCT
fbem-30759	190	1	a	a	DET
fbem-30759	190	2	study	study	NOUN
fbem-30759	190	3	on	on	ADP
fbem-30759	190	4	the	the	DET
fbem-30759	190	5	interactive	interactive	ADJ
fbem-30759	190	6	relationship	relationship	NOUN
fbem-30759	190	7	between	between	ADP
fbem-30759	190	8	rmb	rmb	NOUN
fbem-30759	190	9	internationalization	internationalization	NOUN
fbem-30759	190	10	,	,	PUNCT
fbem-30759	190	11	exchange	exchange	NOUN
fbem-30759	190	12	rate	rate	NOUN
fbem-30759	190	13	fluctuations	fluctuation	NOUN
fbem-30759	190	14	and	and	CCONJ
fbem-30759	190	15	monetary	monetary	ADJ
fbem-30759	190	16	policy	policy	NOUN
fbem-30759	191	1	[	[	X
fbem-30759	191	2	j	j	X
fbem-30759	191	3	]	]	X
fbem-30759	191	4	.	.	PUNCT
fbem-30759	192	1	auditing	auditing	NOUN
fbem-30759	192	2	and	and	CCONJ
fbem-30759	192	3	economic	economic	ADJ
fbem-30759	192	4	research	research	NOUN
fbem-30759	192	5	,	,	PUNCT
fbem-30759	192	6	2016	2016	NUM
fbem-30759	192	7	,	,	PUNCT
fbem-30759	192	8	31(03):120	31(03):120	NUM
fbem-30759	192	9	-	-	SYM
fbem-30759	192	10	129	129	NUM
fbem-30759	192	11	.	.	PUNCT
fbem-30759	193	1	[	[	X
fbem-30759	193	2	7	7	X
fbem-30759	193	3	]	]	X
fbem-30759	193	4	zhong	zhong	PROPN
fbem-30759	193	5	yi	yi	PROPN
fbem-30759	193	6	.	.	PUNCT
fbem-30759	194	1	exchange	exchange	NOUN
fbem-30759	194	2	rate	rate	NOUN
fbem-30759	194	3	fluctuations	fluctuation	NOUN
fbem-30759	194	4	,	,	PUNCT
fbem-30759	194	5	financial	financial	ADJ
fbem-30759	194	6	stability	stability	NOUN
fbem-30759	194	7	and	and	CCONJ
fbem-30759	194	8	monetary	monetary	ADJ
fbem-30759	194	9	policy	policy	NOUN
fbem-30759	195	1	[	[	X
fbem-30759	195	2	d	d	X
fbem-30759	195	3	]	]	X
fbem-30759	195	4	.	.	PUNCT
fbem-30759	196	1	zhejiang	zhejiang	PROPN
fbem-30759	196	2	university	university	PROPN
fbem-30759	196	3	,	,	PUNCT
fbem-30759	196	4	2014	2014	NUM
fbem-30759	196	5	.	.	PUNCT
fbem-30759	197	1	[	[	X
fbem-30759	197	2	8	8	NUM
fbem-30759	197	3	]	]	X
fbem-30759	197	4	liu	liu	PROPN
fbem-30759	197	5	yaocheng	yaocheng	PROPN
fbem-30759	197	6	,	,	PUNCT
fbem-30759	197	7	zhou	zhou	PROPN
fbem-30759	197	8	jizhong	jizhong	PROPN
fbem-30759	197	9	,	,	PUNCT
fbem-30759	197	10	xu	xu	PROPN
fbem-30759	197	11	xiaoping	xiaoping	PROPN
fbem-30759	197	12	.	.	PUNCT
fbem-30759	198	1	the	the	DET
fbem-30759	198	2	dynamic	dynamic	ADJ
fbem-30759	198	3	impact	impact	NOUN
fbem-30759	198	4	of	of	ADP
fbem-30759	198	5	rmb	rmb	PROPN
fbem-30759	198	6	exchange	exchange	NOUN
fbem-30759	198	7	rate	rate	NOUN
fbem-30759	198	8	changes	change	NOUN
fbem-30759	198	9	on	on	ADP
fbem-30759	198	10	china	china	PROPN
fbem-30759	198	11	's	's	PART
fbem-30759	198	12	trade	trade	NOUN
fbem-30759	198	13	balance	balance	NOUN
fbem-30759	198	14	[	[	X
fbem-30759	198	15	j	j	X
fbem-30759	198	16	]	]	X
fbem-30759	198	17	.	.	PUNCT
fbem-30759	199	1	economic	economic	ADJ
fbem-30759	199	2	research	research	NOUN
fbem-30759	199	3	journal	journal	NOUN
fbem-30759	199	4	,	,	PUNCT
fbem-30759	199	5	2010	2010	NUM
fbem-30759	199	6	,	,	PUNCT
fbem-30759	199	7	45(05):32	45(05):32	PROPN
fbem-30759	199	8	-	-	PUNCT
fbem-30759	199	9	40	40	NUM
fbem-30759	199	10	.	.	PUNCT
fbem-30759	200	1	[	[	X
fbem-30759	200	2	9	9	NUM
fbem-30759	200	3	]	]	X
fbem-30759	200	4	chen	chen	PROPN
fbem-30759	200	5	langnan	langnan	PROPN
fbem-30759	200	6	,	,	PUNCT
fbem-30759	200	7	he	he	PRON
fbem-30759	200	8	xiu	xiu	PROPN
fbem-30759	200	9	hong	hong	PROPN
fbem-30759	200	10	,	,	PUNCT
fbem-30759	200	11	chen	chen	PROPN
fbem-30759	200	12	yun	yun	PROPN
fbem-30759	200	13	.	.	PUNCT
fbem-30759	201	1	a	a	DET
fbem-30759	201	2	study	study	NOUN
fbem-30759	201	3	on	on	ADP
fbem-30759	201	4	the	the	DET
fbem-30759	201	5	price	price	NOUN
fbem-30759	201	6	transmission	transmission	NOUN
fbem-30759	201	7	effect	effect	NOUN
fbem-30759	201	8	of	of	ADP
fbem-30759	201	9	rmb	rmb	PROPN
fbem-30759	201	10	exchange	exchange	NOUN
fbem-30759	201	11	rate	rate	NOUN
fbem-30759	201	12	fluctuations	fluctuation	NOUN
fbem-30759	202	1	[	[	X
fbem-30759	202	2	j	j	X
fbem-30759	202	3	]	]	X
fbem-30759	202	4	.	.	PUNCT
fbem-30759	203	1	international	international	ADJ
fbem-30759	203	2	finance	finance	NOUN
fbem-30759	203	3	research	research	NOUN
fbem-30759	203	4	,	,	PUNCT
fbem-30759	203	5	2008	2008	NUM
fbem-30759	203	6	,	,	PUNCT
fbem-30759	203	7	(	(	PUNCT
fbem-30759	203	8	06):55	06):55	NUM
fbem-30759	203	9	-	-	SYM
fbem-30759	203	10	62	62	NUM
fbem-30759	203	11	.	.	PUNCT
fbem-30759	204	1	[	[	X
fbem-30759	204	2	10	10	NUM
fbem-30759	204	3	]	]	X
fbem-30759	204	4	wang	wang	PROPN
fbem-30759	204	5	yan	yan	PROPN
fbem-30759	204	6	.	.	PUNCT
fbem-30759	205	1	the	the	DET
fbem-30759	205	2	impact	impact	NOUN
fbem-30759	205	3	of	of	ADP
fbem-30759	205	4	rmb	rmb	PROPN
fbem-30759	205	5	exchange	exchange	NOUN
fbem-30759	205	6	rate	rate	NOUN
fbem-30759	205	7	fluctuations	fluctuation	NOUN
fbem-30759	205	8	on	on	ADP
fbem-30759	205	9	china	china	PROPN
fbem-30759	205	10	's	's	PART
fbem-30759	205	11	export	export	NOUN
fbem-30759	205	12	trade	trade	NOUN
fbem-30759	206	1	[	[	X
fbem-30759	206	2	d	d	X
fbem-30759	206	3	]	]	X
fbem-30759	206	4	.	.	PUNCT
fbem-30759	207	1	shandong	shandong	PROPN
fbem-30759	207	2	university	university	PROPN
fbem-30759	207	3	,	,	PUNCT
fbem-30759	207	4	2007	2007	NUM
fbem-30759	207	5	.	.	PUNCT
fbem-30759	208	1	[	[	X
fbem-30759	208	2	11	11	NUM
fbem-30759	208	3	]	]	X
fbem-30759	208	4	lu	lu	PROPN
fbem-30759	208	5	wanying	wanye	VERB
fbem-30759	208	6	,	,	PUNCT
fbem-30759	208	7	chen	chen	PROPN
fbem-30759	208	8	jianliang	jianliang	PROPN
fbem-30759	208	9	.	.	PUNCT
fbem-30759	209	1	an	an	DET
fbem-30759	209	2	empirical	empirical	ADJ
fbem-30759	209	3	study	study	NOUN
fbem-30759	209	4	on	on	ADP
fbem-30759	209	5	the	the	DET
fbem-30759	209	6	impact	impact	NOUN
fbem-30759	209	7	of	of	ADP
fbem-30759	209	8	rmb	rmb	PROPN
fbem-30759	209	9	exchange	exchange	NOUN
fbem-30759	209	10	rate	rate	NOUN
fbem-30759	209	11	changes	change	NOUN
fbem-30759	209	12	on	on	ADP
fbem-30759	209	13	china	china	PROPN
fbem-30759	209	14	's	's	PART
fbem-30759	209	15	economic	economic	ADJ
fbem-30759	209	16	growth	growth	NOUN
fbem-30759	209	17	[	[	X
fbem-30759	209	18	j	j	X
fbem-30759	209	19	]	]	X
fbem-30759	209	20	.	.	PUNCT
fbem-30759	210	1	journal	journal	PROPN
fbem-30759	210	2	of	of	ADP
fbem-30759	210	3	finance	finance	NOUN
fbem-30759	210	4	,	,	PUNCT
fbem-30759	210	5	2007	2007	NUM
fbem-30759	210	6	,	,	PUNCT
fbem-30759	210	7	(	(	PUNCT
fbem-30759	210	8	02):26	02):26	NUM
fbem-30759	210	9	-	-	SYM
fbem-30759	210	10	36	36	NUM
fbem-30759	210	11	.	.	PUNCT
fbem-30759	211	1	[	[	X
fbem-30759	211	2	12	12	NUM
fbem-30759	211	3	]	]	X
fbem-30759	211	4	luo	luo	PROPN
fbem-30759	211	5	zhongzhou	zhongzhou	PROPN
fbem-30759	211	6	.	.	PUNCT
fbem-30759	212	1	a	a	DET
fbem-30759	212	2	study	study	NOUN
fbem-30759	212	3	on	on	ADP
fbem-30759	212	4	the	the	DET
fbem-30759	212	5	economic	economic	ADJ
fbem-30759	212	6	effects	effect	NOUN
fbem-30759	212	7	of	of	ADP
fbem-30759	212	8	exchange	exchange	NOUN
fbem-30759	212	9	rate	rate	NOUN
fbem-30759	212	10	fluctuations	fluctuation	NOUN
fbem-30759	212	11	[	[	X
fbem-30759	212	12	d	d	X
fbem-30759	212	13	]	]	X
fbem-30759	212	14	.	.	PUNCT
fbem-30759	213	1	east	east	PROPN
fbem-30759	213	2	china	china	PROPN
fbem-30759	213	3	normal	normal	ADJ
fbem-30759	213	4	university	university	NOUN
fbem-30759	213	5	,	,	PUNCT
fbem-30759	213	6	2005	2005	NUM
fbem-30759	213	7	.	.	PUNCT
fbem-30759	214	1	[	[	X
fbem-30759	214	2	13	13	NUM
fbem-30759	214	3	]	]	X
fbem-30759	214	4	chen	chen	PROPN
fbem-30759	214	5	ping	ping	PROPN
fbem-30759	214	6	,	,	PUNCT
fbem-30759	214	7	xiong	xiong	PROPN
fbem-30759	214	8	xin	xin	PROPN
fbem-30759	214	9	.	.	PUNCT
fbem-30759	215	1	an	an	DET
fbem-30759	215	2	empirical	empirical	ADJ
fbem-30759	215	3	analysis	analysis	NOUN
fbem-30759	215	4	of	of	ADP
fbem-30759	215	5	the	the	DET
fbem-30759	215	6	impact	impact	NOUN
fbem-30759	215	7	of	of	ADP
fbem-30759	215	8	importing	import	VERB
fbem-30759	215	9	country	country	NOUN
fbem-30759	215	10	's	's	PART
fbem-30759	215	11	exchange	exchange	NOUN
fbem-30759	215	12	rate	rate	NOUN
fbem-30759	215	13	fluctuations	fluctuation	NOUN
fbem-30759	215	14	on	on	ADP
fbem-30759	215	15	china	china	PROPN
fbem-30759	215	16	's	's	PART
fbem-30759	215	17	exports	export	NOUN
fbem-30759	215	18	[	[	X
fbem-30759	215	19	j	j	X
fbem-30759	215	20	]	]	X
fbem-30759	215	21	.	.	PUNCT
fbem-30759	216	1	international	international	ADJ
fbem-30759	216	2	finance	finance	NOUN
fbem-30759	216	3	research	research	NOUN
fbem-30759	216	4	,	,	PUNCT
fbem-30759	216	5	2002	2002	NUM
fbem-30759	216	6	,	,	PUNCT
fbem-30759	216	7	(	(	PUNCT
fbem-30759	216	8	06):5	06):5	NUM
fbem-30759	216	9	-	-	SYM
fbem-30759	216	10	9	9	NUM
fbem-30759	216	11	.	.	PUNCT
fbem-30759	217	1	[	[	X
fbem-30759	217	2	14	14	NUM
fbem-30759	217	3	]	]	X
fbem-30759	217	4	li	li	PROPN
fbem-30759	217	5	peiyu	peiyu	PROPN
fbem-30759	217	6	,	,	PUNCT
fbem-30759	217	7	yu	yu	PROPN
fbem-30759	217	8	ming	ming	PROPN
fbem-30759	217	9	.	.	PUNCT
fbem-30759	218	1	foreign	foreign	ADJ
fbem-30759	218	2	exchange	exchange	NOUN
fbem-30759	218	3	reserves	reserve	NOUN
fbem-30759	218	4	,	,	PUNCT
fbem-30759	218	5	exchange	exchange	NOUN
fbem-30759	218	6	rate	rate	NOUN
fbem-30759	218	7	fluctuations	fluctuation	NOUN
fbem-30759	218	8	and	and	CCONJ
fbem-30759	218	9	monetary	monetary	ADJ
fbem-30759	218	10	policy	policy	NOUN
fbem-30759	218	11	operations	operation	NOUN
fbem-30759	218	12	—	—	PUNCT
fbem-30759	218	13	a	a	DET
fbem-30759	218	14	case	case	NOUN
fbem-30759	218	15	study	study	NOUN
fbem-30759	218	16	of	of	ADP
fbem-30759	218	17	taiwan	taiwan	PROPN
fbem-30759	219	1	[	[	X
fbem-30759	219	2	j	j	X
fbem-30759	219	3	]	]	X
fbem-30759	219	4	.	.	PUNCT
fbem-30759	220	1	journal	journal	PROPN
fbem-30759	220	2	of	of	ADP
fbem-30759	220	3	finance	finance	NOUN
fbem-30759	220	4	,	,	PUNCT
fbem-30759	220	5	2004	2004	NUM
fbem-30759	220	6	,	,	PUNCT
fbem-30759	220	7	(	(	PUNCT
fbem-30759	220	8	02	02	NUM
fbem-30759	220	9	):	):	PUNCT
fbem-30759	220	10	79	79	NUM
fbem-30759	220	11	-	-	SYM
fbem-30759	220	12	86	86	NUM
fbem-30759	220	13	.	.	PUNCT
fbem-30759	221	1	[	[	X
fbem-30759	221	2	15	15	NUM
fbem-30759	221	3	]	]	X
fbem-30759	221	4	chen	chen	PROPN
fbem-30759	221	5	ping	ping	PROPN
fbem-30759	221	6	,	,	PUNCT
fbem-30759	221	7	xiong	xiong	PROPN
fbem-30759	221	8	xin	xin	PROPN
fbem-30759	221	9	.	.	PUNCT
fbem-30759	222	1	an	an	DET
fbem-30759	222	2	empirical	empirical	ADJ
fbem-30759	222	3	analysis	analysis	NOUN
fbem-30759	222	4	of	of	ADP
fbem-30759	222	5	the	the	DET
fbem-30759	222	6	impact	impact	NOUN
fbem-30759	222	7	of	of	ADP
fbem-30759	222	8	importing	import	VERB
fbem-30759	222	9	country	country	NOUN
fbem-30759	222	10	's	's	PART
fbem-30759	222	11	exchange	exchange	NOUN
fbem-30759	222	12	rate	rate	NOUN
fbem-30759	222	13	fluctuations	fluctuation	NOUN
fbem-30759	222	14	on	on	ADP
fbem-30759	222	15	china	china	PROPN
fbem-30759	222	16	's	's	PART
fbem-30759	222	17	exports	export	NOUN
fbem-30759	222	18	[	[	X
fbem-30759	222	19	j	j	X
fbem-30759	222	20	]	]	X
fbem-30759	222	21	.	.	PUNCT
fbem-30759	223	1	international	international	ADJ
fbem-30759	223	2	finance	finance	NOUN
fbem-30759	223	3	research	research	NOUN
fbem-30759	223	4	,	,	PUNCT
fbem-30759	223	5	2002	2002	NUM
fbem-30759	223	6	,	,	PUNCT
fbem-30759	223	7	(	(	PUNCT
fbem-30759	223	8	06	06	NUM
fbem-30759	223	9	):	):	PUNCT
fbem-30759	223	10	5	5	NUM
fbem-30759	223	11	-	-	SYM
fbem-30759	223	12	9	9	NUM
fbem-30759	223	13	.	.	PUNCT
fbem-30759	224	1	[	[	X
fbem-30759	224	2	16	16	NUM
fbem-30759	224	3	]	]	X
fbem-30759	224	4	qiang	qiang	PROPN
fbem-30759	224	5	yongchang	yongchang	PROPN
fbem-30759	224	6	.	.	PUNCT
fbem-30759	225	1	the	the	DET
fbem-30759	225	2	mechanism	mechanism	NOUN
fbem-30759	225	3	of	of	ADP
fbem-30759	225	4	the	the	DET
fbem-30759	225	5	impact	impact	NOUN
fbem-30759	225	6	of	of	ADP
fbem-30759	225	7	exchange	exchange	NOUN
fbem-30759	225	8	rate	rate	NOUN
fbem-30759	225	9	changes	change	NOUN
fbem-30759	225	10	on	on	ADP
fbem-30759	225	11	export	export	NOUN
fbem-30759	225	12	trade	trade	NOUN
fbem-30759	226	1	[	[	X
fbem-30759	226	2	j	j	X
fbem-30759	226	3	]	]	X
fbem-30759	226	4	.	.	PUNCT
fbem-30759	227	1	world	world	NOUN
fbem-30759	227	2	economy	economy	NOUN
fbem-30759	227	3	,	,	PUNCT
fbem-30759	227	4	1999	1999	NUM
fbem-30759	227	5	,	,	PUNCT
fbem-30759	227	6	(	(	PUNCT
fbem-30759	227	7	04	04	NUM
fbem-30759	227	8	):	):	PUNCT
fbem-30759	227	9	40	40	NUM
fbem-30759	227	10	-	-	SYM
fbem-30759	227	11	43	43	NUM
fbem-30759	227	12	+	+	NOUN
fbem-30759	227	13	68	68	NUM
fbem-30759	227	14	.	.	PUNCT