id	sid	tid	token	lemma	pos
fbem-7453	1	1	frontiers	frontier	NOUN
fbem-7453	1	2	in	in	ADP
fbem-7453	1	3	business	business	NOUN
fbem-7453	1	4	,	,	PUNCT
fbem-7453	1	5	economics	economic	NOUN
fbem-7453	1	6	and	and	CCONJ
fbem-7453	1	7	management	management	NOUN
fbem-7453	1	8	issn	issn	PROPN
fbem-7453	1	9	:	:	PUNCT
fbem-7453	1	10	2766	2766	NUM
fbem-7453	1	11	-	-	PUNCT
fbem-7453	1	12	824x	824x	NUM
fbem-7453	1	13	|	|	ADJ
fbem-7453	1	14	vol	vol	NOUN
fbem-7453	1	15	.	.	PROPN
fbem-7453	1	16	8	8	NUM
fbem-7453	1	17	,	,	PUNCT
fbem-7453	1	18	no	no	INTJ
fbem-7453	1	19	.	.	NOUN
fbem-7453	1	20	3	3	NUM
fbem-7453	1	21	,	,	PUNCT
fbem-7453	1	22	2023	2023	NUM
fbem-7453	1	23	19	19	NUM
fbem-7453	1	24	an	an	DET
fbem-7453	1	25	attempt	attempt	NOUN
fbem-7453	1	26	to	to	PART
fbem-7453	1	27	demonstrate	demonstrate	VERB
fbem-7453	1	28	the	the	DET
fbem-7453	1	29	significant	significant	ADJ
fbem-7453	1	30	role	role	NOUN
fbem-7453	1	31	played	play	VERB
fbem-7453	1	32	by	by	ADP
fbem-7453	1	33	institutional	institutional	ADJ
fbem-7453	1	34	change	change	NOUN
fbem-7453	1	35	in	in	ADP
fbem-7453	1	36	china	china	PROPN
fbem-7453	1	37	's	's	PART
fbem-7453	1	38	sustained	sustained	ADJ
fbem-7453	1	39	economic	economic	ADJ
fbem-7453	1	40	growth	growth	NOUN
fbem-7453	1	41	-taking	-take	VERB
fbem-7453	1	42	the	the	DET
fbem-7453	1	43	reform	reform	NOUN
fbem-7453	1	44	of	of	ADP
fbem-7453	1	45	the	the	DET
fbem-7453	1	46	renminbi	renminbi	NOUN
fbem-7453	1	47	foreign	foreign	PROPN
fbem-7453	1	48	exchange	exchange	NOUN
fbem-7453	1	49	rate	rate	NOUN
fbem-7453	1	50	system	system	NOUN
fbem-7453	1	51	as	as	ADP
fbem-7453	1	52	an	an	DET
fbem-7453	1	53	example	example	NOUN
fbem-7453	1	54	zirou	zirou	PROPN
fbem-7453	1	55	huang1	huang1	PROPN
fbem-7453	1	56	,	,	PUNCT
fbem-7453	1	57	*	*	PUNCT
fbem-7453	2	1	1school	1school	NUM
fbem-7453	2	2	of	of	ADP
fbem-7453	2	3	economics	economic	NOUN
fbem-7453	2	4	and	and	CCONJ
fbem-7453	2	5	trade	trade	NOUN
fbem-7453	2	6	,	,	PUNCT
fbem-7453	2	7	guangdong	guangdong	PROPN
fbem-7453	2	8	university	university	PROPN
fbem-7453	2	9	of	of	ADP
fbem-7453	2	10	foreign	foreign	PROPN
fbem-7453	2	11	studies	study	NOUN
fbem-7453	2	12	,	,	PUNCT
fbem-7453	2	13	guangzhou	guangzhou	PROPN
fbem-7453	2	14	,	,	PUNCT
fbem-7453	2	15	guangdong	guangdong	PROPN
fbem-7453	2	16	province	province	PROPN
fbem-7453	2	17	,	,	PUNCT
fbem-7453	2	18	510006	510006	NUM
fbem-7453	2	19	,	,	PUNCT
fbem-7453	2	20	china	china	PROPN
fbem-7453	2	21	*	*	PUNCT
fbem-7453	2	22	corresponding	correspond	VERB
fbem-7453	2	23	author	author	NOUN
fbem-7453	2	24	’s	’s	PART
fbem-7453	2	25	e	e	NOUN
fbem-7453	2	26	-	-	NOUN
fbem-7453	2	27	mail	mail	NOUN
fbem-7453	2	28	:	:	PUNCT
fbem-7453	2	29	hzrhzrhzr@yeah.net	hzrhzrhzr@yeah.net	NOUN
fbem-7453	2	30	abstract	abstract	NOUN
fbem-7453	2	31	:	:	PUNCT
fbem-7453	2	32	during	during	ADP
fbem-7453	2	33	china	china	PROPN
fbem-7453	2	34	's	's	PART
fbem-7453	2	35	reform	reform	NOUN
fbem-7453	2	36	and	and	CCONJ
fbem-7453	2	37	opening	opening	NOUN
fbem-7453	2	38	,	,	PUNCT
fbem-7453	2	39	the	the	DET
fbem-7453	2	40	renminbi	renminbi	NOUN
fbem-7453	2	41	exchange	exchange	NOUN
fbem-7453	2	42	rate	rate	NOUN
fbem-7453	2	43	mechanism	mechanism	NOUN
fbem-7453	2	44	has	have	AUX
fbem-7453	2	45	undergone	undergo	VERB
fbem-7453	2	46	several	several	ADJ
fbem-7453	2	47	modifications	modification	NOUN
fbem-7453	2	48	.	.	PUNCT
fbem-7453	3	1	it	it	PRON
fbem-7453	3	2	has	have	AUX
fbem-7453	3	3	steadily	steadily	ADV
fbem-7453	3	4	moved	move	VERB
fbem-7453	3	5	from	from	ADP
fbem-7453	3	6	an	an	DET
fbem-7453	3	7	early	early	ADJ
fbem-7453	3	8	fixed	fix	VERB
fbem-7453	3	9	exchange	exchange	NOUN
fbem-7453	3	10	rate	rate	NOUN
fbem-7453	3	11	regime	regime	NOUN
fbem-7453	3	12	to	to	ADP
fbem-7453	3	13	a	a	PRON
fbem-7453	3	14	market	market	NOUN
fbem-7453	3	15	-	-	PUNCT
fbem-7453	3	16	determined	determine	VERB
fbem-7453	3	17	,	,	PUNCT
fbem-7453	3	18	managed	manage	VERB
fbem-7453	3	19	floating	float	VERB
fbem-7453	3	20	exchange	exchange	NOUN
fbem-7453	3	21	rate	rate	NOUN
fbem-7453	3	22	system	system	NOUN
fbem-7453	3	23	.	.	PUNCT
fbem-7453	4	1	at	at	ADP
fbem-7453	4	2	various	various	ADJ
fbem-7453	4	3	periods	period	NOUN
fbem-7453	4	4	,	,	PUNCT
fbem-7453	4	5	each	each	DET
fbem-7453	4	6	stage	stage	NOUN
fbem-7453	4	7	of	of	ADP
fbem-7453	4	8	reform	reform	NOUN
fbem-7453	4	9	has	have	AUX
fbem-7453	4	10	contributed	contribute	VERB
fbem-7453	4	11	to	to	ADP
fbem-7453	4	12	china	china	PROPN
fbem-7453	4	13	's	's	PART
fbem-7453	4	14	economic	economic	ADJ
fbem-7453	4	15	growth	growth	NOUN
fbem-7453	4	16	.	.	PUNCT
fbem-7453	5	1	the	the	DET
fbem-7453	5	2	purpose	purpose	NOUN
fbem-7453	5	3	of	of	ADP
fbem-7453	5	4	this	this	DET
fbem-7453	5	5	study	study	NOUN
fbem-7453	5	6	is	be	AUX
fbem-7453	5	7	to	to	PART
fbem-7453	5	8	examine	examine	VERB
fbem-7453	5	9	,	,	PUNCT
fbem-7453	5	10	from	from	ADP
fbem-7453	5	11	the	the	DET
fbem-7453	5	12	perspective	perspective	NOUN
fbem-7453	5	13	of	of	ADP
fbem-7453	5	14	the	the	DET
fbem-7453	5	15	reform	reform	NOUN
fbem-7453	5	16	of	of	ADP
fbem-7453	5	17	the	the	DET
fbem-7453	5	18	renminbi	renminbi	NOUN
fbem-7453	5	19	exchange	exchange	NOUN
fbem-7453	5	20	rate	rate	NOUN
fbem-7453	5	21	regime	regime	NOUN
fbem-7453	5	22	,	,	PUNCT
fbem-7453	5	23	whether	whether	SCONJ
fbem-7453	5	24	the	the	DET
fbem-7453	5	25	change	change	NOUN
fbem-7453	5	26	in	in	ADP
fbem-7453	5	27	the	the	DET
fbem-7453	5	28	renminbi	renminbi	NOUN
fbem-7453	5	29	exchange	exchange	NOUN
fbem-7453	5	30	rate	rate	NOUN
fbem-7453	5	31	regime	regime	NOUN
fbem-7453	5	32	has	have	AUX
fbem-7453	5	33	impacted	impact	VERB
fbem-7453	5	34	china	china	PROPN
fbem-7453	5	35	's	's	PART
fbem-7453	5	36	sustained	sustained	ADJ
fbem-7453	5	37	economic	economic	ADJ
fbem-7453	5	38	progress	progress	NOUN
fbem-7453	5	39	.	.	PUNCT
fbem-7453	6	1	using	use	VERB
fbem-7453	6	2	the	the	DET
fbem-7453	6	3	theoretical	theoretical	ADJ
fbem-7453	6	4	system	system	NOUN
fbem-7453	6	5	of	of	ADP
fbem-7453	6	6	national	national	ADJ
fbem-7453	6	7	income	income	NOUN
fbem-7453	6	8	accounting	accounting	NOUN
fbem-7453	6	9	and	and	CCONJ
fbem-7453	6	10	the	the	DET
fbem-7453	6	11	multiple	multiple	ADJ
fbem-7453	6	12	linear	linear	PROPN
fbem-7453	6	13	regression	regression	NOUN
fbem-7453	6	14	model	model	NOUN
fbem-7453	6	15	,	,	PUNCT
fbem-7453	6	16	the	the	DET
fbem-7453	6	17	information	information	NOUN
fbem-7453	6	18	includes	include	VERB
fbem-7453	6	19	data	datum	NOUN
fbem-7453	6	20	on	on	ADP
fbem-7453	6	21	gross	gross	ADJ
fbem-7453	6	22	domestic	domestic	ADJ
fbem-7453	6	23	product	product	NOUN
fbem-7453	6	24	(	(	PUNCT
fbem-7453	6	25	gdp	gdp	NOUN
fbem-7453	6	26	)	)	PUNCT
fbem-7453	6	27	,	,	PUNCT
fbem-7453	6	28	the	the	DET
fbem-7453	6	29	real	real	ADJ
fbem-7453	6	30	effective	effective	ADJ
fbem-7453	6	31	exchange	exchange	NOUN
fbem-7453	6	32	rate	rate	NOUN
fbem-7453	6	33	of	of	ADP
fbem-7453	6	34	the	the	DET
fbem-7453	6	35	renminbi	renminbi	NOUN
fbem-7453	6	36	,	,	PUNCT
fbem-7453	6	37	social	social	ADJ
fbem-7453	6	38	fixed	fix	VERB
fbem-7453	6	39	asset	asset	NOUN
fbem-7453	6	40	investment	investment	NOUN
fbem-7453	6	41	,	,	PUNCT
fbem-7453	6	42	population	population	NOUN
fbem-7453	6	43	consumption	consumption	NOUN
fbem-7453	6	44	level	level	NOUN
fbem-7453	6	45	,	,	PUNCT
fbem-7453	6	46	and	and	CCONJ
fbem-7453	6	47	import	import	NOUN
fbem-7453	6	48	/	/	SYM
fbem-7453	6	49	export	export	NOUN
fbem-7453	6	50	balance	balance	NOUN
fbem-7453	6	51	from	from	ADP
fbem-7453	6	52	the	the	DET
fbem-7453	6	53	china	china	PROPN
fbem-7453	6	54	statistical	statistical	ADJ
fbem-7453	6	55	yearbook	yearbook	NOUN
fbem-7453	6	56	2006	2006	NUM
fbem-7453	6	57	-	-	SYM
fbem-7453	6	58	2021	2021	NUM
fbem-7453	6	59	.	.	PUNCT
fbem-7453	7	1	then	then	ADV
fbem-7453	7	2	,	,	PUNCT
fbem-7453	7	3	it	it	PRON
fbem-7453	7	4	is	be	AUX
fbem-7453	7	5	concluded	conclude	VERB
fbem-7453	7	6	that	that	SCONJ
fbem-7453	7	7	this	this	DET
fbem-7453	7	8	institutional	institutional	ADJ
fbem-7453	7	9	change	change	NOUN
fbem-7453	7	10	contributes	contribute	VERB
fbem-7453	7	11	significantly	significantly	ADV
fbem-7453	7	12	to	to	ADP
fbem-7453	7	13	china	china	PROPN
fbem-7453	7	14	's	's	PART
fbem-7453	7	15	sustained	sustained	ADJ
fbem-7453	7	16	economic	economic	ADJ
fbem-7453	7	17	growth	growth	NOUN
fbem-7453	7	18	,	,	PUNCT
fbem-7453	7	19	and	and	CCONJ
fbem-7453	7	20	reform	reform	NOUN
fbem-7453	7	21	ideas	idea	NOUN
fbem-7453	7	22	for	for	ADP
fbem-7453	7	23	china	china	PROPN
fbem-7453	7	24	's	's	PART
fbem-7453	7	25	institutions	institution	NOUN
fbem-7453	7	26	are	be	AUX
fbem-7453	7	27	presented	present	VERB
fbem-7453	7	28	.	.	PUNCT
fbem-7453	8	1	keywords	keyword	NOUN
fbem-7453	8	2	:	:	PUNCT
fbem-7453	8	3	institutional	institutional	ADJ
fbem-7453	8	4	change	change	NOUN
fbem-7453	8	5	,	,	PUNCT
fbem-7453	8	6	economic	economic	ADJ
fbem-7453	8	7	growth	growth	NOUN
fbem-7453	8	8	,	,	PUNCT
fbem-7453	8	9	renminbi	renminbi	NOUN
fbem-7453	8	10	exchange	exchange	NOUN
fbem-7453	8	11	rate	rate	NOUN
fbem-7453	8	12	system	system	NOUN
fbem-7453	8	13	.	.	PUNCT
fbem-7453	9	1	1	1	X
fbem-7453	9	2	.	.	X
fbem-7453	9	3	introduction	introduction	NOUN
fbem-7453	9	4	the	the	DET
fbem-7453	9	5	exchange	exchange	NOUN
fbem-7453	9	6	rate	rate	NOUN
fbem-7453	9	7	system	system	NOUN
fbem-7453	9	8	of	of	ADP
fbem-7453	9	9	a	a	DET
fbem-7453	9	10	country	country	NOUN
fbem-7453	9	11	is	be	AUX
fbem-7453	9	12	an	an	DET
fbem-7453	9	13	important	important	ADJ
fbem-7453	9	14	economic	economic	ADJ
fbem-7453	9	15	institution	institution	NOUN
fbem-7453	9	16	.	.	PUNCT
fbem-7453	10	1	the	the	DET
fbem-7453	10	2	level	level	NOUN
fbem-7453	10	3	of	of	ADP
fbem-7453	10	4	the	the	DET
fbem-7453	10	5	exchange	exchange	NOUN
fbem-7453	10	6	rate	rate	NOUN
fbem-7453	10	7	reflects	reflect	VERB
fbem-7453	10	8	the	the	DET
fbem-7453	10	9	basic	basic	ADJ
fbem-7453	10	10	conditions	condition	NOUN
fbem-7453	10	11	of	of	ADP
fbem-7453	10	12	the	the	DET
fbem-7453	10	13	country	country	NOUN
fbem-7453	10	14	's	's	PART
fbem-7453	10	15	macroeconomic	macroeconomic	ADJ
fbem-7453	10	16	performance	performance	NOUN
fbem-7453	10	17	,	,	PUNCT
fbem-7453	10	18	and	and	CCONJ
fbem-7453	10	19	the	the	DET
fbem-7453	10	20	responses	response	NOUN
fbem-7453	10	21	of	of	ADP
fbem-7453	10	22	macroeconomic	macroeconomic	ADJ
fbem-7453	10	23	variables	variable	NOUN
fbem-7453	10	24	to	to	PART
fbem-7453	10	25	exchange	exchange	VERB
fbem-7453	10	26	rate	rate	NOUN
fbem-7453	10	27	fluctuations	fluctuation	NOUN
fbem-7453	10	28	under	under	ADP
fbem-7453	10	29	different	different	ADJ
fbem-7453	10	30	exchange	exchange	NOUN
fbem-7453	10	31	rate	rate	NOUN
fbem-7453	10	32	regimes	regime	NOUN
fbem-7453	10	33	vary	vary	VERB
fbem-7453	10	34	.	.	PUNCT
fbem-7453	11	1	thus	thus	ADV
fbem-7453	11	2	,	,	PUNCT
fbem-7453	11	3	the	the	DET
fbem-7453	11	4	selection	selection	NOUN
fbem-7453	11	5	and	and	CCONJ
fbem-7453	11	6	adjustment	adjustment	NOUN
fbem-7453	11	7	of	of	ADP
fbem-7453	11	8	the	the	DET
fbem-7453	11	9	exchange	exchange	NOUN
fbem-7453	11	10	rate	rate	NOUN
fbem-7453	11	11	regime	regime	NOUN
fbem-7453	11	12	have	have	VERB
fbem-7453	11	13	a	a	DET
fbem-7453	11	14	substantial	substantial	ADJ
fbem-7453	11	15	impact	impact	NOUN
fbem-7453	11	16	on	on	ADP
fbem-7453	11	17	the	the	DET
fbem-7453	11	18	nation	nation	NOUN
fbem-7453	11	19	's	's	PART
fbem-7453	11	20	sustained	sustained	ADJ
fbem-7453	11	21	economic	economic	ADJ
fbem-7453	11	22	growth	growth	NOUN
fbem-7453	11	23	.	.	PUNCT
fbem-7453	12	1	since	since	SCONJ
fbem-7453	12	2	the	the	DET
fbem-7453	12	3	reform	reform	NOUN
fbem-7453	12	4	and	and	CCONJ
fbem-7453	12	5	opening	opening	NOUN
fbem-7453	12	6	up	up	ADP
fbem-7453	12	7	,	,	PUNCT
fbem-7453	12	8	the	the	DET
fbem-7453	12	9	renminbi	renminbi	NOUN
fbem-7453	12	10	exchange	exchange	NOUN
fbem-7453	12	11	rate	rate	NOUN
fbem-7453	12	12	system	system	NOUN
fbem-7453	12	13	has	have	AUX
fbem-7453	12	14	undergone	undergo	VERB
fbem-7453	12	15	several	several	ADJ
fbem-7453	12	16	significant	significant	ADJ
fbem-7453	12	17	stages	stage	NOUN
fbem-7453	12	18	,	,	PUNCT
fbem-7453	12	19	including	include	VERB
fbem-7453	12	20	the	the	DET
fbem-7453	12	21	dual	dual	ADJ
fbem-7453	12	22	exchange	exchange	NOUN
fbem-7453	12	23	rate	rate	NOUN
fbem-7453	12	24	system	system	NOUN
fbem-7453	12	25	from	from	ADP
fbem-7453	12	26	1978	1978	NUM
fbem-7453	12	27	to	to	ADP
fbem-7453	12	28	1993	1993	NUM
fbem-7453	12	29	,	,	PUNCT
fbem-7453	12	30	the	the	DET
fbem-7453	12	31	fixed	fix	VERB
fbem-7453	12	32	exchange	exchange	NOUN
fbem-7453	12	33	rate	rate	NOUN
fbem-7453	12	34	system	system	NOUN
fbem-7453	12	35	following	follow	VERB
fbem-7453	12	36	the	the	DET
fbem-7453	12	37	exchange	exchange	NOUN
fbem-7453	12	38	rate	rate	NOUN
fbem-7453	12	39	reform	reform	NOUN
fbem-7453	12	40	in	in	ADP
fbem-7453	12	41	1994	1994	NUM
fbem-7453	12	42	,	,	PUNCT
fbem-7453	12	43	and	and	CCONJ
fbem-7453	12	44	the	the	DET
fbem-7453	12	45	floating	float	VERB
fbem-7453	12	46	exchange	exchange	NOUN
fbem-7453	12	47	rate	rate	NOUN
fbem-7453	12	48	system	system	NOUN
fbem-7453	12	49	following	follow	VERB
fbem-7453	12	50	the	the	DET
fbem-7453	12	51	exchange	exchange	NOUN
fbem-7453	12	52	rate	rate	NOUN
fbem-7453	12	53	reform	reform	NOUN
fbem-7453	12	54	in	in	ADP
fbem-7453	12	55	2005[1	2005[1	NUM
fbem-7453	12	56	]	]	X
fbem-7453	12	57	.	.	PUNCT
fbem-7453	12	58	  	  	SPACE
fbem-7453	12	59	in	in	ADP
fbem-7453	12	60	recent	recent	ADJ
fbem-7453	12	61	years	year	NOUN
fbem-7453	12	62	,	,	PUNCT
fbem-7453	12	63	economic	economic	ADJ
fbem-7453	12	64	globalization	globalization	NOUN
fbem-7453	12	65	and	and	CCONJ
fbem-7453	12	66	international	international	ADJ
fbem-7453	12	67	trade	trade	NOUN
fbem-7453	12	68	have	have	AUX
fbem-7453	12	69	accelerated	accelerate	VERB
fbem-7453	12	70	,	,	PUNCT
fbem-7453	12	71	and	and	CCONJ
fbem-7453	12	72	the	the	DET
fbem-7453	12	73	renminbi	renminbi	NOUN
fbem-7453	12	74	exchange	exchange	NOUN
fbem-7453	12	75	rate	rate	NOUN
fbem-7453	12	76	has	have	AUX
fbem-7453	12	77	played	play	VERB
fbem-7453	12	78	an	an	DET
fbem-7453	12	79	important	important	ADJ
fbem-7453	12	80	role	role	NOUN
fbem-7453	12	81	in	in	ADP
fbem-7453	12	82	china	china	PROPN
fbem-7453	12	83	's	's	PART
fbem-7453	12	84	internal	internal	ADJ
fbem-7453	12	85	and	and	CCONJ
fbem-7453	12	86	external	external	ADJ
fbem-7453	12	87	balance	balance	NOUN
fbem-7453	12	88	.	.	PUNCT
fbem-7453	13	1	thus	thus	ADV
fbem-7453	13	2	,	,	PUNCT
fbem-7453	13	3	it	it	PRON
fbem-7453	13	4	is	be	AUX
fbem-7453	13	5	crucial	crucial	ADJ
fbem-7453	13	6	to	to	PART
fbem-7453	13	7	determine	determine	VERB
fbem-7453	13	8	if	if	SCONJ
fbem-7453	13	9	the	the	DET
fbem-7453	13	10	impact	impact	NOUN
fbem-7453	13	11	of	of	ADP
fbem-7453	13	12	a	a	DET
fbem-7453	13	13	change	change	NOUN
fbem-7453	13	14	in	in	ADP
fbem-7453	13	15	the	the	DET
fbem-7453	13	16	renminbi	renminbi	NOUN
fbem-7453	13	17	exchange	exchange	NOUN
fbem-7453	13	18	rate	rate	NOUN
fbem-7453	13	19	regime	regime	NOUN
fbem-7453	13	20	on	on	ADP
fbem-7453	13	21	renminbi	renminbi	NOUN
fbem-7453	13	22	exchange	exchange	NOUN
fbem-7453	13	23	rate	rate	NOUN
fbem-7453	13	24	movement	movement	NOUN
fbem-7453	13	25	is	be	AUX
fbem-7453	13	26	substantial	substantial	ADJ
fbem-7453	13	27	for	for	ADP
fbem-7453	13	28	china	china	PROPN
fbem-7453	13	29	's	's	PART
fbem-7453	13	30	continued	continue	VERB
fbem-7453	13	31	economic	economic	ADJ
fbem-7453	13	32	development	development	NOUN
fbem-7453	13	33	.	.	PUNCT
fbem-7453	14	1	based	base	VERB
fbem-7453	14	2	on	on	ADP
fbem-7453	14	3	the	the	DET
fbem-7453	14	4	2005	2005	NUM
fbem-7453	14	5	reform	reform	NOUN
fbem-7453	14	6	of	of	ADP
fbem-7453	14	7	the	the	DET
fbem-7453	14	8	renminbi	renminbi	NOUN
fbem-7453	14	9	exchange	exchange	NOUN
fbem-7453	14	10	rate	rate	NOUN
fbem-7453	14	11	regime	regime	NOUN
fbem-7453	14	12	,	,	PUNCT
fbem-7453	14	13	this	this	DET
fbem-7453	14	14	study	study	NOUN
fbem-7453	14	15	will	will	AUX
fbem-7453	14	16	illustrate	illustrate	VERB
fbem-7453	14	17	that	that	SCONJ
fbem-7453	14	18	institutional	institutional	ADJ
fbem-7453	14	19	change	change	NOUN
fbem-7453	14	20	has	have	AUX
fbem-7453	14	21	played	play	VERB
fbem-7453	14	22	a	a	DET
fbem-7453	14	23	crucial	crucial	ADJ
fbem-7453	14	24	influence	influence	NOUN
fbem-7453	14	25	in	in	ADP
fbem-7453	14	26	china	china	PROPN
fbem-7453	14	27	's	's	PART
fbem-7453	14	28	sustained	sustained	ADJ
fbem-7453	14	29	economic	economic	ADJ
fbem-7453	14	30	growth	growth	NOUN
fbem-7453	14	31	.	.	PUNCT
fbem-7453	15	1	2	2	X
fbem-7453	15	2	.	.	X
fbem-7453	15	3	theoretical	theoretical	ADJ
fbem-7453	15	4	mechanism	mechanism	NOUN
fbem-7453	15	5	the	the	DET
fbem-7453	15	6	exchange	exchange	NOUN
fbem-7453	15	7	rate	rate	NOUN
fbem-7453	15	8	reform	reform	NOUN
fbem-7453	15	9	of	of	ADP
fbem-7453	15	10	2005	2005	NUM
fbem-7453	15	11	established	establish	VERB
fbem-7453	15	12	an	an	DET
fbem-7453	15	13	inquiry	inquiry	NOUN
fbem-7453	15	14	trading	trading	NOUN
fbem-7453	15	15	system	system	NOUN
fbem-7453	15	16	and	and	CCONJ
fbem-7453	15	17	a	a	DET
fbem-7453	15	18	regulated	regulated	ADJ
fbem-7453	15	19	floating	float	VERB
fbem-7453	15	20	exchange	exchange	NOUN
fbem-7453	15	21	rate	rate	NOUN
fbem-7453	15	22	system	system	NOUN
fbem-7453	15	23	based	base	VERB
fbem-7453	15	24	on	on	ADP
fbem-7453	15	25	market	market	NOUN
fbem-7453	15	26	supply	supply	NOUN
fbem-7453	15	27	and	and	CCONJ
fbem-7453	15	28	demand	demand	NOUN
fbem-7453	15	29	with	with	ADP
fbem-7453	15	30	reference	reference	NOUN
fbem-7453	15	31	to	to	ADP
fbem-7453	15	32	a	a	DET
fbem-7453	15	33	basket	basket	NOUN
fbem-7453	15	34	of	of	ADP
fbem-7453	15	35	currencies	currency	NOUN
fbem-7453	15	36	and	and	CCONJ
fbem-7453	15	37	no	no	ADV
fbem-7453	15	38	longer	long	ADV
fbem-7453	15	39	tied	tie	VERB
fbem-7453	15	40	to	to	ADP
fbem-7453	15	41	the	the	DET
fbem-7453	15	42	us	us	PROPN
fbem-7453	15	43	dollar	dollar	NOUN
fbem-7453	15	44	.	.	PUNCT
fbem-7453	16	1	after	after	ADP
fbem-7453	16	2	this	this	DET
fbem-7453	16	3	reform	reform	NOUN
fbem-7453	16	4	,	,	PUNCT
fbem-7453	16	5	the	the	DET
fbem-7453	16	6	renminbi	renminbi	NOUN
fbem-7453	16	7	entered	enter	VERB
fbem-7453	16	8	a	a	DET
fbem-7453	16	9	period	period	NOUN
fbem-7453	16	10	of	of	ADP
fbem-7453	16	11	long	long	ADJ
fbem-7453	16	12	-	-	PUNCT
fbem-7453	16	13	term	term	NOUN
fbem-7453	16	14	appreciation	appreciation	NOUN
fbem-7453	16	15	,	,	PUNCT
fbem-7453	16	16	which	which	PRON
fbem-7453	16	17	spurred	spur	VERB
fbem-7453	16	18	a	a	DET
fbem-7453	16	19	massive	massive	ADJ
fbem-7453	16	20	influx	influx	NOUN
fbem-7453	16	21	of	of	ADP
fbem-7453	16	22	international	international	ADJ
fbem-7453	16	23	capital	capital	NOUN
fbem-7453	16	24	,	,	PUNCT
fbem-7453	16	25	which	which	PRON
fbem-7453	16	26	led	lead	VERB
fbem-7453	16	27	to	to	ADP
fbem-7453	16	28	a	a	DET
fbem-7453	16	29	spectacular	spectacular	ADJ
fbem-7453	16	30	increase	increase	NOUN
fbem-7453	16	31	in	in	ADP
fbem-7453	16	32	foreign	foreign	ADJ
fbem-7453	16	33	exchange	exchange	NOUN
fbem-7453	16	34	reserves	reserve	NOUN
fbem-7453	16	35	and	and	CCONJ
fbem-7453	16	36	a	a	DET
fbem-7453	16	37	trade	trade	NOUN
fbem-7453	16	38	surplus	surplus	NOUN
fbem-7453	16	39	,	,	PUNCT
fbem-7453	16	40	therefore	therefore	ADV
fbem-7453	16	41	considerably	considerably	ADV
fbem-7453	16	42	contributing	contribute	VERB
fbem-7453	16	43	to	to	ADP
fbem-7453	16	44	the	the	DET
fbem-7453	16	45	nation	nation	NOUN
fbem-7453	16	46	's	's	PART
fbem-7453	16	47	economic	economic	ADJ
fbem-7453	16	48	growth	growth	NOUN
fbem-7453	16	49	.	.	PUNCT
fbem-7453	17	1	changes	change	NOUN
fbem-7453	17	2	in	in	ADP
fbem-7453	17	3	the	the	DET
fbem-7453	17	4	renminbi	renminbi	NOUN
fbem-7453	17	5	exchange	exchange	NOUN
fbem-7453	17	6	rate	rate	NOUN
fbem-7453	17	7	regime	regime	NOUN
fbem-7453	17	8	have	have	VERB
fbem-7453	17	9	a	a	DET
fbem-7453	17	10	substantial	substantial	ADJ
fbem-7453	17	11	impact	impact	NOUN
fbem-7453	17	12	on	on	ADP
fbem-7453	17	13	china	china	PROPN
fbem-7453	17	14	's	's	PART
fbem-7453	17	15	macro	macro	ADJ
fbem-7453	17	16	economy	economy	NOUN
fbem-7453	17	17	,	,	PUNCT
fbem-7453	17	18	including	include	VERB
fbem-7453	17	19	foreign	foreign	ADJ
fbem-7453	17	20	exchange	exchange	NOUN
fbem-7453	17	21	reserves	reserve	NOUN
fbem-7453	17	22	,	,	PUNCT
fbem-7453	17	23	prices	price	NOUN
fbem-7453	17	24	,	,	PUNCT
fbem-7453	17	25	employment	employment	NOUN
fbem-7453	17	26	,	,	PUNCT
fbem-7453	17	27	money	money	NOUN
fbem-7453	17	28	supply	supply	NOUN
fbem-7453	17	29	,	,	PUNCT
fbem-7453	17	30	imports	import	NOUN
fbem-7453	17	31	,	,	PUNCT
fbem-7453	17	32	exports	export	NOUN
fbem-7453	17	33	,	,	PUNCT
fbem-7453	17	34	and	and	CCONJ
fbem-7453	17	35	international	international	ADJ
fbem-7453	17	36	capital	capital	NOUN
fbem-7453	17	37	flows	flow	VERB
fbem-7453	17	38	.	.	PUNCT
fbem-7453	18	1	moreover	moreover	ADV
fbem-7453	18	2	,	,	PUNCT
fbem-7453	18	3	its	its	PRON
fbem-7453	18	4	scale	scale	NOUN
fbem-7453	18	5	is	be	AUX
fbem-7453	18	6	influenced	influence	VERB
fbem-7453	18	7	by	by	ADP
fbem-7453	18	8	several	several	ADJ
fbem-7453	18	9	cycles	cycle	NOUN
fbem-7453	18	10	of	of	ADP
fbem-7453	18	11	renminbi	renminbi	NOUN
fbem-7453	18	12	currency	currency	NOUN
fbem-7453	18	13	rate	rate	NOUN
fbem-7453	18	14	appreciation	appreciation	NOUN
fbem-7453	18	15	and	and	CCONJ
fbem-7453	18	16	depreciation[2	depreciation[2	PROPN
fbem-7453	18	17	]	]	X
fbem-7453	18	18	.	.	PUNCT
fbem-7453	19	1	in	in	ADP
fbem-7453	19	2	the	the	DET
fbem-7453	19	3	case	case	NOUN
fbem-7453	19	4	of	of	ADP
fbem-7453	19	5	the	the	DET
fbem-7453	19	6	exchange	exchange	NOUN
fbem-7453	19	7	rate	rate	NOUN
fbem-7453	19	8	reform	reform	NOUN
fbem-7453	19	9	of	of	ADP
fbem-7453	19	10	2005	2005	NUM
fbem-7453	19	11	,	,	PUNCT
fbem-7453	19	12	figure	figure	NOUN
fbem-7453	19	13	1	1	NUM
fbem-7453	19	14	displays	display	VERB
fbem-7453	19	15	both	both	CCONJ
fbem-7453	19	16	the	the	DET
fbem-7453	19	17	outcome	outcome	NOUN
fbem-7453	19	18	and	and	CCONJ
fbem-7453	19	19	the	the	DET
fbem-7453	19	20	mechanism	mechanism	NOUN
fbem-7453	19	21	of	of	ADP
fbem-7453	19	22	action	action	NOUN
fbem-7453	19	23	.	.	PUNCT
fbem-7453	20	1	as	as	SCONJ
fbem-7453	20	2	shown	show	VERB
fbem-7453	20	3	in	in	ADP
fbem-7453	20	4	figure	figure	NOUN
fbem-7453	20	5	1	1	NUM
fbem-7453	20	6	,	,	PUNCT
fbem-7453	20	7	a	a	DET
fbem-7453	20	8	change	change	NOUN
fbem-7453	20	9	in	in	ADP
fbem-7453	20	10	the	the	DET
fbem-7453	20	11	policy	policy	NOUN
fbem-7453	20	12	governing	govern	VERB
fbem-7453	20	13	the	the	DET
fbem-7453	20	14	exchange	exchange	NOUN
fbem-7453	20	15	rate	rate	NOUN
fbem-7453	20	16	of	of	ADP
fbem-7453	20	17	the	the	DET
fbem-7453	20	18	renminbi	renminbi	NOUN
fbem-7453	20	19	will	will	AUX
fbem-7453	20	20	affect	affect	VERB
fbem-7453	20	21	import	import	NOUN
fbem-7453	20	22	and	and	CCONJ
fbem-7453	20	23	export	export	NOUN
fbem-7453	20	24	trade	trade	NOUN
fbem-7453	20	25	,	,	PUNCT
fbem-7453	20	26	the	the	DET
fbem-7453	20	27	flow	flow	NOUN
fbem-7453	20	28	of	of	ADP
fbem-7453	20	29	capital	capital	NOUN
fbem-7453	20	30	,	,	PUNCT
fbem-7453	20	31	the	the	DET
fbem-7453	20	32	consumption	consumption	NOUN
fbem-7453	20	33	level	level	NOUN
fbem-7453	20	34	of	of	ADP
fbem-7453	20	35	residents	resident	NOUN
fbem-7453	20	36	,	,	PUNCT
fbem-7453	20	37	the	the	DET
fbem-7453	20	38	employment	employment	NOUN
fbem-7453	20	39	situation	situation	NOUN
fbem-7453	20	40	,	,	PUNCT
fbem-7453	20	41	etc	etc	X
fbem-7453	20	42	.	.	X
fbem-7453	20	43	,	,	PUNCT
fbem-7453	20	44	which	which	PRON
fbem-7453	20	45	in	in	ADP
fbem-7453	20	46	turn	turn	NOUN
fbem-7453	20	47	affects	affect	VERB
fbem-7453	20	48	macroeconomic	macroeconomic	ADJ
fbem-7453	20	49	variables	variable	NOUN
fbem-7453	20	50	such	such	ADJ
fbem-7453	20	51	as	as	ADP
fbem-7453	20	52	prices	price	NOUN
fbem-7453	20	53	,	,	PUNCT
fbem-7453	20	54	social	social	ADJ
fbem-7453	20	55	demand	demand	NOUN
fbem-7453	20	56	,	,	PUNCT
fbem-7453	20	57	economic	economic	ADJ
fbem-7453	20	58	growth	growth	NOUN
fbem-7453	20	59	,	,	PUNCT
fbem-7453	20	60	etc	etc	X
fbem-7453	20	61	.	.	X
fbem-7453	21	1	the	the	DET
fbem-7453	21	2	theoretical	theoretical	ADJ
fbem-7453	21	3	mechanism	mechanism	NOUN
fbem-7453	21	4	by	by	ADP
fbem-7453	21	5	which	which	PRON
fbem-7453	21	6	a	a	DET
fbem-7453	21	7	change	change	NOUN
fbem-7453	21	8	in	in	ADP
fbem-7453	21	9	the	the	DET
fbem-7453	21	10	regime	regime	NOUN
fbem-7453	21	11	of	of	ADP
fbem-7453	21	12	the	the	DET
fbem-7453	21	13	renminbi	renminbi	NOUN
fbem-7453	21	14	's	's	PART
fbem-7453	21	15	exchange	exchange	NOUN
fbem-7453	21	16	rate	rate	NOUN
fbem-7453	21	17	effects	effect	NOUN
fbem-7453	21	18	china	china	PROPN
fbem-7453	21	19	's	's	PART
fbem-7453	21	20	economic	economic	ADJ
fbem-7453	21	21	development	development	NOUN
fbem-7453	21	22	was	be	AUX
fbem-7453	21	23	explored	explore	VERB
fbem-7453	21	24	previously	previously	ADV
fbem-7453	21	25	.	.	PUNCT
fbem-7453	22	1	these	these	DET
fbem-7453	22	2	many	many	ADJ
fbem-7453	22	3	stages	stage	NOUN
fbem-7453	22	4	of	of	ADP
fbem-7453	22	5	exchange	exchange	NOUN
fbem-7453	22	6	rate	rate	NOUN
fbem-7453	22	7	reform	reform	NOUN
fbem-7453	22	8	have	have	AUX
fbem-7453	22	9	,	,	PUNCT
fbem-7453	22	10	for	for	ADP
fbem-7453	22	11	the	the	DET
fbem-7453	22	12	most	most	ADJ
fbem-7453	22	13	part	part	NOUN
fbem-7453	22	14	,	,	PUNCT
fbem-7453	22	15	stuck	stick	VERB
fbem-7453	22	16	to	to	ADP
fbem-7453	22	17	this	this	DET
fbem-7453	22	18	policy	policy	NOUN
fbem-7453	22	19	in	in	ADP
fbem-7453	22	20	order	order	NOUN
fbem-7453	22	21	to	to	PART
fbem-7453	22	22	influence	influence	VERB
fbem-7453	22	23	the	the	DET
fbem-7453	22	24	economic	economic	ADJ
fbem-7453	22	25	development	development	NOUN
fbem-7453	22	26	of	of	ADP
fbem-7453	22	27	china	china	PROPN
fbem-7453	22	28	.	.	PUNCT
fbem-7453	23	1	thus	thus	ADV
fbem-7453	23	2	,	,	PUNCT
fbem-7453	23	3	the	the	DET
fbem-7453	23	4	subsequent	subsequent	ADJ
fbem-7453	23	5	empirical	empirical	ADJ
fbem-7453	23	6	investigation	investigation	NOUN
fbem-7453	23	7	of	of	ADP
fbem-7453	23	8	the	the	DET
fbem-7453	23	9	shift	shift	NOUN
fbem-7453	23	10	in	in	ADP
fbem-7453	23	11	the	the	DET
fbem-7453	23	12	regime	regime	NOUN
fbem-7453	23	13	of	of	ADP
fbem-7453	23	14	the	the	DET
fbem-7453	23	15	renminbi	renminbi	NOUN
fbem-7453	23	16	exchange	exchange	NOUN
fbem-7453	23	17	rate	rate	NOUN
fbem-7453	23	18	in	in	ADP
fbem-7453	23	19	2005	2005	NUM
fbem-7453	23	20	,	,	PUNCT
fbem-7453	23	21	which	which	PRON
fbem-7453	23	22	facilitated	facilitate	VERB
fbem-7453	23	23	the	the	DET
fbem-7453	23	24	sustained	sustained	ADJ
fbem-7453	23	25	development	development	NOUN
fbem-7453	23	26	of	of	ADP
fbem-7453	23	27	china	china	PROPN
fbem-7453	23	28	's	's	PART
fbem-7453	23	29	economy	economy	NOUN
fbem-7453	23	30	over	over	ADP
fbem-7453	23	31	a	a	DET
fbem-7453	23	32	specific	specific	ADJ
fbem-7453	23	33	period	period	NOUN
fbem-7453	23	34	,	,	PUNCT
fbem-7453	23	35	would	would	AUX
fbem-7453	23	36	likewise	likewise	ADV
fbem-7453	23	37	adhere	adhere	VERB
fbem-7453	23	38	to	to	ADP
fbem-7453	23	39	the	the	DET
fbem-7453	23	40	concept	concept	NOUN
fbem-7453	23	41	of	of	ADP
fbem-7453	23	42	the	the	DET
fbem-7453	23	43	previously	previously	ADV
fbem-7453	23	44	established	establish	VERB
fbem-7453	23	45	theoretical	theoretical	ADJ
fbem-7453	23	46	process	process	NOUN
fbem-7453	23	47	.	.	PUNCT
fbem-7453	24	1	20	20	NUM
fbem-7453	24	2	figure	figure	NOUN
fbem-7453	24	3	1	1	NUM
fbem-7453	24	4	.	.	PUNCT
fbem-7453	24	5	flow	flow	VERB
fbem-7453	24	6	chart	chart	NOUN
fbem-7453	24	7	of	of	ADP
fbem-7453	24	8	exchange	exchange	NOUN
fbem-7453	24	9	rate	rate	NOUN
fbem-7453	24	10	system	system	NOUN
fbem-7453	24	11	changes	change	NOUN
fbem-7453	24	12	affecting	affect	VERB
fbem-7453	24	13	china	china	PROPN
fbem-7453	24	14	’s	’s	PART
fbem-7453	24	15	economy	economy	NOUN
fbem-7453	24	16	3	3	NUM
fbem-7453	24	17	.	.	PUNCT
fbem-7453	24	18	model	model	NOUN
fbem-7453	24	19	argument	argument	NOUN
fbem-7453	24	20	the	the	DET
fbem-7453	24	21	gross	gross	ADJ
fbem-7453	24	22	domestic	domestic	ADJ
fbem-7453	24	23	product	product	NOUN
fbem-7453	24	24	(	(	PUNCT
fbem-7453	24	25	gdp	gdp	NOUN
fbem-7453	24	26	)	)	PUNCT
fbem-7453	24	27	is	be	AUX
fbem-7453	24	28	an	an	DET
fbem-7453	24	29	essential	essential	ADJ
fbem-7453	24	30	indication	indication	NOUN
fbem-7453	24	31	of	of	ADP
fbem-7453	24	32	a	a	DET
fbem-7453	24	33	nation	nation	NOUN
fbem-7453	24	34	's	's	PART
fbem-7453	24	35	economic	economic	ADJ
fbem-7453	24	36	development	development	NOUN
fbem-7453	24	37	through	through	ADP
fbem-7453	24	38	time	time	NOUN
fbem-7453	24	39	.	.	PUNCT
fbem-7453	25	1	gdp	gdp	NOUN
fbem-7453	25	2	is	be	AUX
fbem-7453	25	3	affected	affect	VERB
fbem-7453	25	4	by	by	ADP
fbem-7453	25	5	investment	investment	NOUN
fbem-7453	25	6	,	,	PUNCT
fbem-7453	25	7	consumption	consumption	NOUN
fbem-7453	25	8	,	,	PUNCT
fbem-7453	25	9	and	and	CCONJ
fbem-7453	25	10	the	the	DET
fbem-7453	25	11	balance	balance	NOUN
fbem-7453	25	12	of	of	ADP
fbem-7453	25	13	imports	import	NOUN
fbem-7453	25	14	and	and	CCONJ
fbem-7453	25	15	exports	export	NOUN
fbem-7453	25	16	.	.	PUNCT
fbem-7453	26	1	furthermore	furthermore	ADV
fbem-7453	26	2	,	,	PUNCT
fbem-7453	26	3	the	the	DET
fbem-7453	26	4	renminbi	renminbi	NOUN
fbem-7453	26	5	exchange	exchange	NOUN
fbem-7453	26	6	rate	rate	NOUN
fbem-7453	26	7	is	be	AUX
fbem-7453	26	8	one	one	NUM
fbem-7453	26	9	among	among	ADP
fbem-7453	26	10	the	the	DET
fbem-7453	26	11	several	several	ADJ
fbem-7453	26	12	factors	factor	NOUN
fbem-7453	26	13	that	that	PRON
fbem-7453	26	14	influence	influence	VERB
fbem-7453	26	15	gdp	gdp	PROPN
fbem-7453	26	16	.	.	PUNCT
fbem-7453	27	1	to	to	PART
fbem-7453	27	2	quantify	quantify	VERB
fbem-7453	27	3	the	the	DET
fbem-7453	27	4	impact	impact	NOUN
fbem-7453	27	5	of	of	ADP
fbem-7453	27	6	renminbi	renminbi	NOUN
fbem-7453	27	7	exchange	exchange	NOUN
fbem-7453	27	8	rate	rate	NOUN
fbem-7453	27	9	fluctuations	fluctuation	NOUN
fbem-7453	27	10	on	on	ADP
fbem-7453	27	11	economic	economic	ADJ
fbem-7453	27	12	growth	growth	NOUN
fbem-7453	27	13	,	,	PUNCT
fbem-7453	27	14	we	we	PRON
fbem-7453	27	15	utilize	utilize	VERB
fbem-7453	27	16	regression	regression	NOUN
fbem-7453	27	17	analysis	analysis	NOUN
fbem-7453	27	18	to	to	PART
fbem-7453	27	19	create	create	VERB
fbem-7453	27	20	the	the	DET
fbem-7453	27	21	regression	regression	NOUN
fbem-7453	27	22	equation	equation	NOUN
fbem-7453	27	23	between	between	ADP
fbem-7453	27	24	renminbi	renminbi	NOUN
fbem-7453	27	25	exchange	exchange	NOUN
fbem-7453	27	26	rate	rate	NOUN
fbem-7453	27	27	and	and	CCONJ
fbem-7453	27	28	gdp	gdp	NOUN
fbem-7453	27	29	in	in	ADP
fbem-7453	27	30	order	order	NOUN
fbem-7453	27	31	to	to	PART
fbem-7453	27	32	gain	gain	VERB
fbem-7453	27	33	a	a	DET
fbem-7453	27	34	deeper	deep	ADJ
fbem-7453	27	35	understanding	understanding	NOUN
fbem-7453	27	36	of	of	ADP
fbem-7453	27	37	the	the	DET
fbem-7453	27	38	link	link	NOUN
fbem-7453	27	39	between	between	ADP
fbem-7453	27	40	the	the	DET
fbem-7453	27	41	two	two	NUM
fbem-7453	27	42	variables	variable	NOUN
fbem-7453	27	43	.	.	PUNCT
fbem-7453	28	1	3.1	3.1	NUM
fbem-7453	28	2	.	.	X
fbem-7453	29	1	modeling	modeling	NOUN
fbem-7453	29	2	in	in	ADP
fbem-7453	29	3	general	general	ADJ
fbem-7453	29	4	,	,	PUNCT
fbem-7453	29	5	investment	investment	NOUN
fbem-7453	29	6	,	,	PUNCT
fbem-7453	29	7	consumption	consumption	NOUN
fbem-7453	29	8	,	,	PUNCT
fbem-7453	29	9	government	government	NOUN
fbem-7453	29	10	purchases	purchase	NOUN
fbem-7453	29	11	,	,	PUNCT
fbem-7453	29	12	and	and	CCONJ
fbem-7453	29	13	the	the	DET
fbem-7453	29	14	export	export	NOUN
fbem-7453	29	15	-	-	PUNCT
fbem-7453	29	16	import	import	NOUN
fbem-7453	29	17	balance	balance	NOUN
fbem-7453	29	18	comprise	comprise	VERB
fbem-7453	29	19	the	the	DET
fbem-7453	29	20	gross	gross	ADJ
fbem-7453	29	21	domestic	domestic	ADJ
fbem-7453	29	22	product	product	NOUN
fbem-7453	29	23	(	(	PUNCT
fbem-7453	29	24	gdp	gdp	NOUN
fbem-7453	29	25	)	)	PUNCT
fbem-7453	29	26	.	.	PUNCT
fbem-7453	30	1	however	however	ADV
fbem-7453	30	2	,	,	PUNCT
fbem-7453	30	3	in	in	ADP
fbem-7453	30	4	order	order	NOUN
fbem-7453	30	5	to	to	PART
fbem-7453	30	6	analyze	analyze	VERB
fbem-7453	30	7	the	the	DET
fbem-7453	30	8	impact	impact	NOUN
fbem-7453	30	9	of	of	ADP
fbem-7453	30	10	the	the	DET
fbem-7453	30	11	renminbi	renminbi	NOUN
fbem-7453	30	12	exchange	exchange	NOUN
fbem-7453	30	13	rate	rate	NOUN
fbem-7453	30	14	on	on	ADP
fbem-7453	30	15	economic	economic	ADJ
fbem-7453	30	16	growth	growth	NOUN
fbem-7453	30	17	,	,	PUNCT
fbem-7453	30	18	it	it	PRON
fbem-7453	30	19	is	be	AUX
fbem-7453	30	20	necessary	necessary	ADJ
fbem-7453	30	21	to	to	PART
fbem-7453	30	22	include	include	VERB
fbem-7453	30	23	the	the	DET
fbem-7453	30	24	exchange	exchange	NOUN
fbem-7453	30	25	rate	rate	NOUN
fbem-7453	30	26	as	as	ADP
fbem-7453	30	27	a	a	DET
fbem-7453	30	28	factor	factor	NOUN
fbem-7453	30	29	and	and	CCONJ
fbem-7453	30	30	to	to	PART
fbem-7453	30	31	simplify	simplify	VERB
fbem-7453	30	32	the	the	DET
fbem-7453	30	33	government	government	NOUN
fbem-7453	30	34	spending	spending	NOUN
fbem-7453	30	35	component	component	NOUN
fbem-7453	30	36	.	.	PUNCT
fbem-7453	31	1	these	these	DET
fbem-7453	31	2	indicators	indicator	NOUN
fbem-7453	31	3	provide	provide	VERB
fbem-7453	31	4	as	as	ADP
fbem-7453	31	5	a	a	DET
fbem-7453	31	6	framework	framework	NOUN
fbem-7453	31	7	for	for	ADP
fbem-7453	31	8	conducting	conduct	VERB
fbem-7453	31	9	a	a	DET
fbem-7453	31	10	regression	regression	NOUN
fbem-7453	31	11	study	study	NOUN
fbem-7453	31	12	of	of	ADP
fbem-7453	31	13	gdp	gdp	NOUN
fbem-7453	31	14	-	-	PUNCT
fbem-7453	31	15	influencing	influence	VERB
fbem-7453	31	16	variables	variable	NOUN
fbem-7453	31	17	.	.	PUNCT
fbem-7453	32	1	let	let	VERB
fbem-7453	32	2	:	:	PUNCT
fbem-7453	32	3	gdp	gdp	NOUN
fbem-7453	32	4	=	=	PROPN
fbem-7453	32	5	c+i+nx+e	c+i+nx+e	PROPN
fbem-7453	32	6	(	(	PUNCT
fbem-7453	32	7	1	1	NUM
fbem-7453	32	8	)	)	PUNCT
fbem-7453	32	9	in	in	ADP
fbem-7453	32	10	order	order	NOUN
fbem-7453	32	11	to	to	PART
fbem-7453	32	12	avoid	avoid	VERB
fbem-7453	32	13	the	the	DET
fbem-7453	32	14	influence	influence	NOUN
fbem-7453	32	15	of	of	ADP
fbem-7453	32	16	data	datum	NOUN
fbem-7453	32	17	-	-	PUNCT
fbem-7453	32	18	induced	induce	VERB
fbem-7453	32	19	heteroskedasticity	heteroskedasticity	NOUN
fbem-7453	32	20	,	,	PUNCT
fbem-7453	32	21	a	a	DET
fbem-7453	32	22	multiple	multiple	ADJ
fbem-7453	32	23	regression	regression	NOUN
fbem-7453	32	24	model	model	NOUN
fbem-7453	32	25	can	can	AUX
fbem-7453	32	26	be	be	AUX
fbem-7453	32	27	constructed	construct	VERB
fbem-7453	32	28	by	by	ADP
fbem-7453	32	29	calculating	calculate	VERB
fbem-7453	32	30	the	the	DET
fbem-7453	32	31	logarithms	logarithm	NOUN
fbem-7453	32	32	of	of	ADP
fbem-7453	32	33	each	each	DET
fbem-7453	32	34	variable	variable	NOUN
fbem-7453	32	35	independently	independently	ADV
fbem-7453	32	36	.	.	PUNCT
fbem-7453	33	1	ln	ln	PROPN
fbem-7453	33	2	gdp	gdp	PROPN
fbem-7453	33	3	=	=	NOUN
fbem-7453	33	4	β1+β2lne+β3lni+β4lnc+β5lnnx+μ	β1+β2lne+β3lni+β4lnc+β5lnnx+μ	NOUN
fbem-7453	33	5	(	(	PUNCT
fbem-7453	33	6	2	2	NUM
fbem-7453	33	7	)	)	PUNCT
fbem-7453	33	8	where	where	SCONJ
fbem-7453	33	9	μ	μ	NOUN
fbem-7453	33	10	is	be	AUX
fbem-7453	33	11	the	the	DET
fbem-7453	33	12	random	random	ADJ
fbem-7453	33	13	error	error	NOUN
fbem-7453	33	14	term	term	NOUN
fbem-7453	33	15	,	,	PUNCT
fbem-7453	33	16	e	e	X
fbem-7453	33	17	is	be	AUX
fbem-7453	33	18	the	the	DET
fbem-7453	33	19	renminbi	renminbi	NOUN
fbem-7453	33	20	real	real	ADV
fbem-7453	33	21	effective	effective	ADJ
fbem-7453	33	22	exchange	exchange	NOUN
fbem-7453	33	23	rate	rate	NOUN
fbem-7453	33	24	,	,	PUNCT
fbem-7453	33	25	i	i	PRON
fbem-7453	33	26	is	be	AUX
fbem-7453	33	27	the	the	DET
fbem-7453	33	28	social	social	ADJ
fbem-7453	33	29	fixed	fix	VERB
fbem-7453	33	30	asset	asset	NOUN
fbem-7453	33	31	investment	investment	NOUN
fbem-7453	33	32	,	,	PUNCT
fbem-7453	33	33	c	c	PROPN
fbem-7453	33	34	is	be	AUX
fbem-7453	33	35	the	the	DET
fbem-7453	33	36	level	level	NOUN
fbem-7453	33	37	of	of	ADP
fbem-7453	33	38	consumption	consumption	NOUN
fbem-7453	33	39	,	,	PUNCT
fbem-7453	33	40	nx	nx	PROPN
fbem-7453	33	41	is	be	AUX
fbem-7453	33	42	the	the	DET
fbem-7453	33	43	import	import	NOUN
fbem-7453	33	44	and	and	CCONJ
fbem-7453	33	45	export	export	NOUN
fbem-7453	33	46	balance	balance	NOUN
fbem-7453	33	47	,	,	PUNCT
fbem-7453	33	48	and	and	CCONJ
fbem-7453	33	49	β	β	X
fbem-7453	33	50	is	be	AUX
fbem-7453	33	51	the	the	DET
fbem-7453	33	52	regression	regression	NOUN
fbem-7453	33	53	coefficient	coefficient	NOUN
fbem-7453	33	54	.	.	PUNCT
fbem-7453	34	1	3.2	3.2	NUM
fbem-7453	34	2	.	.	PUNCT
fbem-7453	35	1	empirical	empirical	ADJ
fbem-7453	35	2	analysis	analysis	NOUN
fbem-7453	35	3	the	the	DET
fbem-7453	35	4	annual	annual	ADJ
fbem-7453	35	5	data	datum	NOUN
fbem-7453	35	6	(	(	PUNCT
fbem-7453	35	7	table	table	NOUN
fbem-7453	35	8	1	1	NUM
fbem-7453	35	9	)	)	PUNCT
fbem-7453	35	10	of	of	ADP
fbem-7453	35	11	gdp	gdp	NOUN
fbem-7453	35	12	(	(	PUNCT
fbem-7453	35	13	100	100	NUM
fbem-7453	35	14	million	million	NUM
fbem-7453	35	15	yuan	yuan	NOUN
fbem-7453	35	16	)	)	PUNCT
fbem-7453	35	17	,	,	PUNCT
fbem-7453	35	18	renminbi	renminbi	NOUN
fbem-7453	35	19	real	real	ADV
fbem-7453	35	20	effective	effective	ADJ
fbem-7453	35	21	exchange	exchange	NOUN
fbem-7453	35	22	rate	rate	NOUN
fbem-7453	35	23	(	(	PUNCT
fbem-7453	35	24	100	100	NUM
fbem-7453	35	25	dollars	dollar	NOUN
fbem-7453	35	26	/	/	SYM
fbem-7453	35	27	yuan	yuan	NOUN
fbem-7453	35	28	)	)	PUNCT
fbem-7453	35	29	,	,	PUNCT
fbem-7453	35	30	social	social	ADJ
fbem-7453	35	31	fixed	fix	VERB
fbem-7453	35	32	assets	asset	NOUN
fbem-7453	35	33	investment	investment	NOUN
fbem-7453	35	34	(	(	PUNCT
fbem-7453	35	35	100	100	NUM
fbem-7453	35	36	million	million	NUM
fbem-7453	35	37	yuan	yuan	NOUN
fbem-7453	35	38	)	)	PUNCT
fbem-7453	35	39	,	,	PUNCT
fbem-7453	35	40	level	level	NOUN
fbem-7453	35	41	of	of	ADP
fbem-7453	35	42	consumption	consumption	NOUN
fbem-7453	35	43	(	(	PUNCT
fbem-7453	35	44	yuan	yuan	NOUN
fbem-7453	35	45	)	)	PUNCT
fbem-7453	35	46	,	,	PUNCT
fbem-7453	35	47	import	import	NOUN
fbem-7453	35	48	and	and	CCONJ
fbem-7453	35	49	export	export	NOUN
fbem-7453	35	50	balance	balance	NOUN
fbem-7453	35	51	(	(	PUNCT
fbem-7453	35	52	yuan	yuan	NOUN
fbem-7453	35	53	)	)	PUNCT
fbem-7453	35	54	from	from	ADP
fbem-7453	35	55	2006	2006	NUM
fbem-7453	35	56	to	to	ADP
fbem-7453	35	57	2021	2021	NUM
fbem-7453	35	58	are	be	AUX
fbem-7453	35	59	selected	select	VERB
fbem-7453	35	60	for	for	ADP
fbem-7453	35	61	regression	regression	NOUN
fbem-7453	35	62	analysis	analysis	NOUN
fbem-7453	35	63	of	of	ADP
fbem-7453	35	64	the	the	DET
fbem-7453	35	65	factors	factor	NOUN
fbem-7453	35	66	affecting	affect	VERB
fbem-7453	35	67	china	china	PROPN
fbem-7453	35	68	's	's	PART
fbem-7453	35	69	economic	economic	ADJ
fbem-7453	35	70	growth	growth	NOUN
fbem-7453	35	71	.	.	PUNCT
fbem-7453	36	1	all	all	DET
fbem-7453	36	2	data	datum	NOUN
fbem-7453	36	3	processing	processing	NOUN
fbem-7453	36	4	is	be	AUX
fbem-7453	36	5	completed	complete	VERB
fbem-7453	36	6	by	by	ADP
fbem-7453	36	7	statamp	statamp	NOUN
fbem-7453	36	8	16	16	NUM
fbem-7453	36	9	.	.	PUNCT
fbem-7453	37	1	according	accord	VERB
fbem-7453	37	2	to	to	ADP
fbem-7453	37	3	the	the	DET
fbem-7453	37	4	regression	regression	NOUN
fbem-7453	37	5	results	result	NOUN
fbem-7453	37	6	,	,	PUNCT
fbem-7453	37	7	the	the	DET
fbem-7453	37	8	regression	regression	NOUN
fbem-7453	37	9	coefficients	coefficient	NOUN
fbem-7453	37	10	of	of	ADP
fbem-7453	37	11	the	the	DET
fbem-7453	37	12	constants	constant	NOUN
fbem-7453	37	13	lne	lne	PROPN
fbem-7453	37	14	,	,	PUNCT
fbem-7453	37	15	lni	lni	PROPN
fbem-7453	37	16	,	,	PUNCT
fbem-7453	37	17	lnc	lnc	PROPN
fbem-7453	37	18	,	,	PUNCT
fbem-7453	37	19	and	and	CCONJ
fbem-7453	37	20	lnnx	lnnx	PROPN
fbem-7453	37	21	are	be	AUX
fbem-7453	37	22	0.339	0.339	NUM
fbem-7453	37	23	,	,	PUNCT
fbem-7453	37	24	-0.029	-0.029	NOUN
fbem-7453	37	25	,	,	PUNCT
fbem-7453	37	26	1.023	1.023	NUM
fbem-7453	37	27	,	,	PUNCT
fbem-7453	37	28	and	and	CCONJ
fbem-7453	37	29	-0.037	-0.037	NUM
fbem-7453	37	30	,	,	PUNCT
fbem-7453	37	31	respectively	respectively	ADV
fbem-7453	37	32	,	,	PUNCT
fbem-7453	37	33	so	so	CCONJ
fbem-7453	37	34	the	the	DET
fbem-7453	37	35	regression	regression	NOUN
fbem-7453	37	36	equation	equation	NOUN
fbem-7453	37	37	is	be	AUX
fbem-7453	37	38	obtained	obtain	VERB
fbem-7453	37	39	:	:	PUNCT
fbem-7453	37	40	lngdp=6.332	lngdp=6.332	PROPN
fbem-7453	37	41	-	-	PROPN
fbem-7453	37	42	0.339lne-0.029lni+1.023lnc-0.037lnnx	0.339lne-0.029lni+1.023lnc-0.037lnnx	PROPN
fbem-7453	37	43	(	(	PUNCT
fbem-7453	37	44	3	3	NUM
fbem-7453	37	45	)	)	PUNCT
fbem-7453	37	46	table	table	NOUN
fbem-7453	37	47	1	1	NUM
fbem-7453	37	48	.	.	PUNCT
fbem-7453	38	1	statistics	statistic	NOUN
fbem-7453	38	2	of	of	ADP
fbem-7453	38	3	gdp	gdp	PROPN
fbem-7453	38	4	,	,	PUNCT
fbem-7453	38	5	renminbi	renminbi	NOUN
fbem-7453	38	6	real	real	ADV
fbem-7453	38	7	effective	effective	ADJ
fbem-7453	38	8	exchange	exchange	NOUN
fbem-7453	38	9	rate	rate	NOUN
fbem-7453	38	10	,	,	PUNCT
fbem-7453	38	11	social	social	ADJ
fbem-7453	38	12	fixed	fix	VERB
fbem-7453	38	13	asset	asset	NOUN
fbem-7453	38	14	investment	investment	NOUN
fbem-7453	38	15	,	,	PUNCT
fbem-7453	38	16	level	level	NOUN
fbem-7453	38	17	of	of	ADP
fbem-7453	38	18	consumption	consumption	NOUN
fbem-7453	38	19	,	,	PUNCT
fbem-7453	38	20	import	import	NOUN
fbem-7453	38	21	and	and	CCONJ
fbem-7453	38	22	export	export	NOUN
fbem-7453	38	23	balance	balance	NOUN
fbem-7453	38	24	from	from	ADP
fbem-7453	38	25	2006	2006	NUM
fbem-7453	38	26	-	-	SYM
fbem-7453	38	27	2021	2021	NUM
fbem-7453	38	28	year	year	NOUN
fbem-7453	38	29	gdp	gdp	NOUN
fbem-7453	39	1	e	e	NOUN
fbem-7453	39	2	i	i	PRON
fbem-7453	39	3	c	c	PROPN
fbem-7453	39	4	nx	nx	NUM
fbem-7453	39	5	2006	2006	NUM
fbem-7453	39	6	219438.5	219438.5	NUM
fbem-7453	39	7	797.18	797.18	NUM
fbem-7453	39	8	97583.1	97583.1	NUM
fbem-7453	39	9	6319	6319	NUM
fbem-7453	39	10	14221.03	14221.03	NUM
fbem-7453	39	11	2007	2007	NUM
fbem-7453	40	1	270092.3	270092.3	NUM
fbem-7453	40	2	760.4	760.4	NUM
fbem-7453	40	3	118323.2	118323.2	NUM
fbem-7453	40	4	7454	7454	NUM
fbem-7453	40	5	20330.2	20330.2	NUM
fbem-7453	40	6	2008	2008	NUM
fbem-7453	40	7	319244.6	319244.6	NUM
fbem-7453	40	8	694.51	694.51	NUM
fbem-7453	40	9	144586.8	144586.8	NUM
fbem-7453	40	10	8504	8504	NUM
fbem-7453	40	11	20868.41	20868.41	NUM
fbem-7453	40	12	2009	2009	NUM
fbem-7453	40	13	348517.7	348517.7	NUM
fbem-7453	40	14	683.1	683.1	NUM
fbem-7453	40	15	181760.4	181760.4	NUM
fbem-7453	40	16	9249	9249	NUM
fbem-7453	40	17	13411.32	13411.32	NUM
fbem-7453	40	18	2010	2010	NUM
fbem-7453	40	19	412119.3	412119.3	NUM
fbem-7453	40	20	676.95	676.95	NUM
fbem-7453	40	21	218833.6	218833.6	NUM
fbem-7453	40	22	10575	10575	NUM
fbem-7453	40	23	12323.34	12323.34	NUM
fbem-7453	40	24	2011	2011	NUM
fbem-7453	40	25	487940.2	487940.2	NUM
fbem-7453	40	26	645.88	645.88	NUM
fbem-7453	40	27	238782.1	238782.1	NUM
fbem-7453	40	28	12668	12668	NUM
fbem-7453	40	29	10079.16	10079.16	NUM
fbem-7453	40	30	2012	2012	NUM
fbem-7453	40	31	538580	538580	NUM
fbem-7453	40	32	631.25	631.25	NUM
fbem-7453	40	33	281683.8	281683.8	NUM
fbem-7453	40	34	14074	14074	NUM
fbem-7453	40	35	14558.29	14558.29	NUM
fbem-7453	40	36	2013	2013	NUM
fbem-7453	40	37	592963.2	592963.2	NUM
fbem-7453	40	38	619.32	619.32	NUM
fbem-7453	40	39	329318.3	329318.3	NUM
fbem-7453	40	40	15586	15586	NUM
fbem-7453	40	41	16093.98	16093.98	NUM
fbem-7453	40	42	2014	2014	NUM
fbem-7453	40	43	643563.1	643563.1	NUM
fbem-7453	40	44	614.28	614.28	NUM
fbem-7453	40	45	373636.9	373636.9	NUM
fbem-7453	40	46	17220	17220	NUM
fbem-7453	40	47	23525.72	23525.72	NUM
fbem-7453	40	48	2015	2015	NUM
fbem-7453	40	49	688858.2	688858.2	NUM
fbem-7453	40	50	622.84	622.84	NUM
fbem-7453	40	51	405927.7	405927.7	NUM
fbem-7453	40	52	18857	18857	NUM
fbem-7453	40	53	36830.73	36830.73	NUM
fbem-7453	40	54	2016	2016	NUM
fbem-7453	40	55	746395.1	746395.1	NUM
fbem-7453	40	56	664.23	664.23	NUM
fbem-7453	40	57	434363.5	434363.5	NUM
fbem-7453	40	58	20801	20801	NUM
fbem-7453	40	59	33452.12	33452.12	NUM
fbem-7453	40	60	2017	2017	NUM
fbem-7453	40	61	832035.9	832035.9	NUM
fbem-7453	40	62	675.18	675.18	NUM
fbem-7453	40	63	461283.7	461283.7	NUM
fbem-7453	40	64	22968	22968	NUM
fbem-7453	40	65	28519.6	28519.6	NUM
fbem-7453	40	66	2018	2018	NUM
fbem-7453	40	67	919281.1	919281.1	NUM
fbem-7453	40	68	661.74	661.74	NUM
fbem-7453	40	69	488499.4	488499.4	NUM
fbem-7453	40	70	25245	25245	NUM
fbem-7453	40	71	23247.5	23247.5	NUM
fbem-7453	40	72	2019	2019	NUM
fbem-7453	40	73	986515.2	986515.2	NUM
fbem-7453	40	74	689.85	689.85	NUM
fbem-7453	40	75	513608.3	513608.3	NUM
fbem-7453	40	76	27504	27504	NUM
fbem-7453	40	77	29119.9	29119.9	NUM
fbem-7453	40	78	2020	2020	NUM
fbem-7453	40	79	1013567	1013567	NUM
fbem-7453	40	80	689.76	689.76	NUM
fbem-7453	40	81	527270.3	527270.3	NUM
fbem-7453	40	82	27439	27439	NUM
fbem-7453	40	83	36342.4	36342.4	NUM
fbem-7453	40	84	2021	2021	NUM
fbem-7453	40	85	1143669.7	1143669.7	NUM
fbem-7453	40	86	645.15	645.15	NUM
fbem-7453	40	87	552884.2	552884.2	NUM
fbem-7453	40	88	31072	31072	NUM
fbem-7453	40	89	43653.1	43653.1	NUM
fbem-7453	40	90	21	21	NUM
fbem-7453	40	91	3.3	3.3	NUM
fbem-7453	40	92	.	.	PUNCT
fbem-7453	41	1	model	model	NOUN
fbem-7453	41	2	testing	test	VERB
fbem-7453	41	3	r	r	NOUN
fbem-7453	41	4	-	-	PUNCT
fbem-7453	41	5	squared	square	VERB
fbem-7453	41	6	is	be	AUX
fbem-7453	41	7	0.999	0.999	NUM
fbem-7453	41	8	,	,	PUNCT
fbem-7453	41	9	which	which	PRON
fbem-7453	41	10	is	be	AUX
fbem-7453	41	11	astonishingly	astonishingly	ADV
fbem-7453	41	12	near	near	ADV
fbem-7453	41	13	to	to	ADP
fbem-7453	41	14	1	1	NUM
fbem-7453	41	15	,	,	PUNCT
fbem-7453	41	16	suggesting	suggest	VERB
fbem-7453	41	17	that	that	SCONJ
fbem-7453	41	18	the	the	DET
fbem-7453	41	19	model	model	NOUN
fbem-7453	41	20	fits	fit	VERB
fbem-7453	41	21	the	the	DET
fbem-7453	41	22	data	datum	NOUN
fbem-7453	41	23	well	well	ADV
fbem-7453	41	24	based	base	VERB
fbem-7453	41	25	on	on	ADP
fbem-7453	41	26	the	the	DET
fbem-7453	41	27	regression	regression	NOUN
fbem-7453	41	28	findings	finding	NOUN
fbem-7453	41	29	(	(	PUNCT
fbem-7453	41	30	table	table	NOUN
fbem-7453	41	31	2	2	NUM
fbem-7453	41	32	)	)	PUNCT
fbem-7453	41	33	.	.	PUNCT
fbem-7453	42	1	the	the	DET
fbem-7453	42	2	initial	initial	ADJ
fbem-7453	42	3	hypothesis	hypothesis	NOUN
fbem-7453	42	4	that	that	PRON
fbem-7453	42	5	the	the	DET
fbem-7453	42	6	regression	regression	NOUN
fbem-7453	42	7	coefficient	coefficient	NOUN
fbem-7453	42	8	β1	β1	NOUN
fbem-7453	42	9	=	=	NOUN
fbem-7453	42	10	β2	β2	NOUN
fbem-7453	42	11	=	=	NOUN
fbem-7453	42	12	β3	β3	ADJ
fbem-7453	42	13	=	=	NOUN
fbem-7453	42	14	β4=0	β4=0	PROPN
fbem-7453	42	15	is	be	AUX
fbem-7453	42	16	rejected	reject	VERB
fbem-7453	42	17	based	base	VERB
fbem-7453	42	18	on	on	ADP
fbem-7453	42	19	the	the	DET
fbem-7453	42	20	findings	finding	NOUN
fbem-7453	42	21	of	of	ADP
fbem-7453	42	22	the	the	DET
fbem-7453	42	23	f	f	NOUN
fbem-7453	42	24	-	-	PUNCT
fbem-7453	42	25	test	test	NOUN
fbem-7453	42	26	,	,	PUNCT
fbem-7453	42	27	which	which	PRON
fbem-7453	42	28	yield	yield	VERB
fbem-7453	42	29	a	a	DET
fbem-7453	42	30	significant	significant	ADJ
fbem-7453	42	31	p	p	NOUN
fbem-7453	42	32	-	-	PUNCT
fbem-7453	42	33	value	value	NOUN
fbem-7453	42	34	of	of	ADP
fbem-7453	42	35	0.000	0.000	NUM
fbem-7453	42	36	*	*	PUNCT
fbem-7453	42	37	*	*	PUNCT
fbem-7453	42	38	*	*	PUNCT
fbem-7453	42	39	,	,	PUNCT
fbem-7453	42	40	indicating	indicate	VERB
fbem-7453	42	41	significance	significance	NOUN
fbem-7453	42	42	at	at	ADP
fbem-7453	42	43	the	the	DET
fbem-7453	42	44	level	level	NOUN
fbem-7453	42	45	.	.	PUNCT
fbem-7453	43	1	hence	hence	ADV
fbem-7453	43	2	,	,	PUNCT
fbem-7453	43	3	the	the	DET
fbem-7453	43	4	regression	regression	NOUN
fbem-7453	43	5	equation	equation	NOUN
fbem-7453	43	6	reveals	reveal	VERB
fbem-7453	43	7	a	a	DET
fbem-7453	43	8	substantial	substantial	ADJ
fbem-7453	43	9	linear	linear	PROPN
fbem-7453	43	10	association	association	NOUN
fbem-7453	43	11	.	.	PUNCT
fbem-7453	44	1	it	it	PRON
fbem-7453	44	2	demonstrates	demonstrate	VERB
fbem-7453	44	3	that	that	SCONJ
fbem-7453	44	4	the	the	DET
fbem-7453	44	5	variables	variable	NOUN
fbem-7453	44	6	'	'	PUNCT
fbem-7453	44	7	renminbi	renminbi	NOUN
fbem-7453	44	8	real	real	ADV
fbem-7453	44	9	effective	effective	ADJ
fbem-7453	44	10	exchange	exchange	NOUN
fbem-7453	44	11	rate	rate	NOUN
fbem-7453	44	12	,	,	PUNCT
fbem-7453	44	13	social	social	ADJ
fbem-7453	44	14	fixed	fix	VERB
fbem-7453	44	15	asset	asset	NOUN
fbem-7453	44	16	investment	investment	NOUN
fbem-7453	44	17	,	,	PUNCT
fbem-7453	44	18	residents	resident	NOUN
fbem-7453	44	19	consumption	consumption	NOUN
fbem-7453	44	20	level	level	NOUN
fbem-7453	44	21	,	,	PUNCT
fbem-7453	44	22	and	and	CCONJ
fbem-7453	44	23	'	'	PUNCT
fbem-7453	44	24	import	import	NOUN
fbem-7453	44	25	/	/	SYM
fbem-7453	44	26	export	export	NOUN
fbem-7453	44	27	balance	balance	NOUN
fbem-7453	44	28	'	'	PUNCT
fbem-7453	44	29	are	be	AUX
fbem-7453	44	30	positively	positively	ADV
fbem-7453	44	31	correlated	correlate	VERB
fbem-7453	44	32	with	with	ADP
fbem-7453	44	33	one	one	NUM
fbem-7453	44	34	another	another	DET
fbem-7453	44	35	.	.	PUNCT
fbem-7453	45	1	the	the	DET
fbem-7453	45	2	variables	variable	NOUN
fbem-7453	45	3	'	'	PART
fbem-7453	45	4	real	real	ADJ
fbem-7453	45	5	effective	effective	ADJ
fbem-7453	45	6	exchange	exchange	NOUN
fbem-7453	45	7	rate	rate	NOUN
fbem-7453	45	8	of	of	ADP
fbem-7453	45	9	the	the	DET
fbem-7453	45	10	renminbi	renminbi	NOUN
fbem-7453	45	11	,	,	PUNCT
fbem-7453	45	12	social	social	ADJ
fbem-7453	45	13	fixed	fix	VERB
fbem-7453	45	14	asset	asset	NOUN
fbem-7453	45	15	investment	investment	NOUN
fbem-7453	45	16	,	,	PUNCT
fbem-7453	45	17	consumption	consumption	NOUN
fbem-7453	45	18	level	level	NOUN
fbem-7453	45	19	,	,	PUNCT
fbem-7453	45	20	and	and	CCONJ
fbem-7453	45	21	import	import	NOUN
fbem-7453	45	22	/	/	SYM
fbem-7453	45	23	export	export	NOUN
fbem-7453	45	24	balance	balance	NOUN
fbem-7453	45	25	have	have	VERB
fbem-7453	45	26	a	a	DET
fbem-7453	45	27	substantial	substantial	ADJ
fbem-7453	45	28	influence	influence	NOUN
fbem-7453	45	29	on	on	ADP
fbem-7453	45	30	the	the	DET
fbem-7453	45	31	gdp	gdp	NOUN
fbem-7453	45	32	as	as	ADP
fbem-7453	45	33	a	a	DET
fbem-7453	45	34	whole	whole	NOUN
fbem-7453	45	35	.	.	PUNCT
fbem-7453	46	1	table	table	NOUN
fbem-7453	46	2	2	2	NUM
fbem-7453	46	3	.	.	PUNCT
fbem-7453	46	4	results	result	NOUN
fbem-7453	46	5	of	of	ADP
fbem-7453	46	6	linear	linear	ADJ
fbem-7453	46	7	regression	regression	NOUN
fbem-7453	46	8	analysis	analysis	NOUN
fbem-7453	46	9	results	result	NOUN
fbem-7453	46	10	of	of	ADP
fbem-7453	46	11	linear	linear	ADJ
fbem-7453	46	12	regression	regression	NOUN
fbem-7453	46	13	analysis	analysis	NOUN
fbem-7453	46	14	n=16	n=16	NOUN
fbem-7453	46	15	non	non	ADJ
fbem-7453	46	16	-	-	ADJ
fbem-7453	46	17	standardized	standardized	ADJ
fbem-7453	46	18	coefficient	coefficient	NOUN
fbem-7453	46	19	standardization	standardization	NOUN
fbem-7453	46	20	coefficient	coefficient	NOUN
fbem-7453	46	21	t	t	PROPN
fbem-7453	46	22	p	p	PROPN
fbem-7453	46	23	vif	vif	PROPN
fbem-7453	46	24	r²	r²	VERB
fbem-7453	46	25	adjusted	adjust	VERB
fbem-7453	46	26	r²	r²	PROPN
fbem-7453	46	27	f	f	PROPN
fbem-7453	46	28	b	b	PROPN
fbem-7453	46	29	standard	standard	ADJ
fbem-7453	46	30	error	error	NOUN
fbem-7453	46	31	beta	beta	NOUN
fbem-7453	46	32	constants	constant	NOUN
fbem-7453	46	33	6.332	6.332	NUM
fbem-7453	46	34	1.183	1.183	NUM
fbem-7453	46	35	5.35	5.35	NUM
fbem-7453	46	36	0.000	0.000	NUM
fbem-7453	46	37	*	*	PUNCT
fbem-7453	46	38	*	*	PUNCT
fbem-7453	46	39	*	*	PUNCT
fbem-7453	46	40	0.999	0.999	NUM
fbem-7453	46	41	0.998	0.998	NUM
fbem-7453	46	42	f=2299.692	f=2299.692	NOUN
fbem-7453	46	43	p=0.000	p=0.000	NOUN
fbem-7453	46	44	*	*	PUNCT
fbem-7453	46	45	*	*	PUNCT
fbem-7453	46	46	*	*	PUNCT
fbem-7453	46	47	natural	natural	ADJ
fbem-7453	46	48	logarithm(ln)_e	logarithm(ln)_e	NOUN
fbem-7453	46	49	-0.339	-0.339	X
fbem-7453	46	50	0.144	0.144	NUM
fbem-7453	46	51	-0.048	-0.048	NOUN
fbem-7453	46	52	-2.353	-2.353	NUM
fbem-7453	46	53	0.038	0.038	NUM
fbem-7453	46	54	*	*	PUNCT
fbem-7453	46	55	*	*	PROPN
fbem-7453	46	56	3.79	3.79	NUM
fbem-7453	46	57	natural	natural	ADJ
fbem-7453	46	58	logarithm(ln)_i	logarithm(ln)_i	NOUN
fbem-7453	46	59	-0.029	-0.029	NOUN
fbem-7453	46	60	0.094	0.094	NUM
fbem-7453	46	61	-0.032	-0.032	ADP
fbem-7453	46	62	-0.309	-0.309	NOUN
fbem-7453	46	63	0.763	0.763	NUM
fbem-7453	46	64	100.962	100.962	NUM
fbem-7453	46	65	natural	natural	ADJ
fbem-7453	46	66	logarithm(ln)_c	logarithm(ln)_c	NOUN
fbem-7453	46	67	1.023	1.023	NUM
fbem-7453	46	68	0.098	0.098	NUM
fbem-7453	46	69	1.028	1.028	NUM
fbem-7453	46	70	10.446	10.446	NUM
fbem-7453	46	71	0.000	0.000	NUM
fbem-7453	46	72	*	*	PUNCT
fbem-7453	46	73	*	*	PUNCT
fbem-7453	46	74	*	*	PUNCT
fbem-7453	46	75	89.166	89.166	NUM
fbem-7453	46	76	natural	natural	ADJ
fbem-7453	46	77	logarithm(ln)_nx	logarithm(ln)_nx	NOUN
fbem-7453	46	78	-0.037	-0.037	PUNCT
fbem-7453	46	79	0.019	0.019	NUM
fbem-7453	46	80	-0.033	-0.033	NUM
fbem-7453	46	81	-1.979	-1.979	PROPN
fbem-7453	46	82	0.073	0.073	NUM
fbem-7453	46	83	*	*	NUM
fbem-7453	46	84	2.551	2.551	NUM
fbem-7453	46	85	dependent	dependent	ADJ
fbem-7453	46	86	variable	variable	NOUN
fbem-7453	46	87	:	:	PUNCT
fbem-7453	46	88	natural	natural	ADJ
fbem-7453	46	89	logarithm	logarithm	NOUN
fbem-7453	46	90	(	(	PUNCT
fbem-7453	46	91	ln)_gdp	ln)_gdp	PROPN
fbem-7453	46	92	note	note	VERB
fbem-7453	46	93	:	:	PUNCT
fbem-7453	46	94	*	*	PUNCT
fbem-7453	46	95	*	*	PUNCT
fbem-7453	46	96	*	*	PUNCT
fbem-7453	46	97	,	,	PUNCT
fbem-7453	46	98	*	*	PUNCT
fbem-7453	46	99	*	*	PUNCT
fbem-7453	46	100	,	,	PUNCT
fbem-7453	46	101	*	*	PUNCT
fbem-7453	46	102	represent	represent	VERB
fbem-7453	46	103	1	1	NUM
fbem-7453	46	104	%	%	NOUN
fbem-7453	46	105	,	,	PUNCT
fbem-7453	46	106	5	5	NUM
fbem-7453	46	107	%	%	NOUN
fbem-7453	46	108	,	,	PUNCT
fbem-7453	46	109	10	10	NUM
fbem-7453	46	110	%	%	NOUN
fbem-7453	46	111	significance	significance	NOUN
fbem-7453	46	112	levels	level	NOUN
fbem-7453	46	113	,	,	PUNCT
fbem-7453	46	114	respectively	respectively	ADV
fbem-7453	46	115	4	4	NUM
fbem-7453	46	116	.	.	PUNCT
fbem-7453	46	117	conclusions	conclusion	NOUN
fbem-7453	46	118	and	and	CCONJ
fbem-7453	46	119	recommendations	recommendation	NOUN
fbem-7453	46	120	the	the	DET
fbem-7453	46	121	regression	regression	NOUN
fbem-7453	46	122	coefficient	coefficient	NOUN
fbem-7453	46	123	β2	β2	PROPN
fbem-7453	46	124	of	of	ADP
fbem-7453	46	125	lne	lne	PROPN
fbem-7453	46	126	is	be	AUX
fbem-7453	46	127	-0.339	-0.339	ADJ
fbem-7453	46	128	,	,	PUNCT
fbem-7453	46	129	according	accord	VERB
fbem-7453	46	130	to	to	ADP
fbem-7453	46	131	the	the	DET
fbem-7453	46	132	findings	finding	NOUN
fbem-7453	46	133	of	of	ADP
fbem-7453	46	134	the	the	DET
fbem-7453	46	135	regression	regression	NOUN
fbem-7453	46	136	study	study	NOUN
fbem-7453	46	137	.	.	PUNCT
fbem-7453	47	1	the	the	DET
fbem-7453	47	2	regression	regression	NOUN
fbem-7453	47	3	coefficient	coefficient	NOUN
fbem-7453	47	4	is	be	AUX
fbem-7453	47	5	negative	negative	ADJ
fbem-7453	47	6	,	,	PUNCT
fbem-7453	47	7	showing	show	VERB
fbem-7453	47	8	that	that	SCONJ
fbem-7453	47	9	a	a	DET
fbem-7453	47	10	decrease	decrease	NOUN
fbem-7453	47	11	in	in	ADP
fbem-7453	47	12	the	the	DET
fbem-7453	47	13	real	real	ADJ
fbem-7453	47	14	effective	effective	ADJ
fbem-7453	47	15	exchange	exchange	NOUN
fbem-7453	47	16	rate	rate	NOUN
fbem-7453	47	17	of	of	ADP
fbem-7453	47	18	the	the	DET
fbem-7453	47	19	renminbi	renminbi	NOUN
fbem-7453	47	20	(	(	PUNCT
fbem-7453	47	21	100	100	NUM
fbem-7453	47	22	usd	usd	NOUN
fbem-7453	47	23	/	/	SYM
fbem-7453	47	24	yuan	yuan	NOUN
fbem-7453	47	25	)	)	PUNCT
fbem-7453	47	26	has	have	VERB
fbem-7453	47	27	a	a	DET
fbem-7453	47	28	positive	positive	ADJ
fbem-7453	47	29	effect	effect	NOUN
fbem-7453	47	30	on	on	ADP
fbem-7453	47	31	the	the	DET
fbem-7453	47	32	growth	growth	NOUN
fbem-7453	47	33	of	of	ADP
fbem-7453	47	34	our	our	PRON
fbem-7453	47	35	economy	economy	NOUN
fbem-7453	47	36	.	.	PUNCT
fbem-7453	48	1	this	this	DET
fbem-7453	48	2	conclusion	conclusion	NOUN
fbem-7453	48	3	may	may	AUX
fbem-7453	48	4	be	be	AUX
fbem-7453	48	5	obtained	obtain	VERB
fbem-7453	48	6	by	by	ADP
fbem-7453	48	7	combining	combine	VERB
fbem-7453	48	8	the	the	DET
fbem-7453	48	9	theoretical	theoretical	ADJ
fbem-7453	48	10	mechanisms	mechanism	NOUN
fbem-7453	48	11	discussed	discuss	VERB
fbem-7453	48	12	above	above	ADV
fbem-7453	48	13	.	.	PUNCT
fbem-7453	49	1	the	the	DET
fbem-7453	49	2	currency	currency	NOUN
fbem-7453	49	3	exchange	exchange	NOUN
fbem-7453	49	4	rate	rate	NOUN
fbem-7453	49	5	adjustment	adjustment	NOUN
fbem-7453	49	6	in	in	ADP
fbem-7453	49	7	2005	2005	NUM
fbem-7453	49	8	led	lead	VERB
fbem-7453	49	9	the	the	DET
fbem-7453	49	10	renminbi	renminbi	NOUN
fbem-7453	49	11	to	to	PART
fbem-7453	49	12	persistently	persistently	ADV
fbem-7453	49	13	fall	fall	VERB
fbem-7453	49	14	versus	versus	ADP
fbem-7453	49	15	the	the	DET
fbem-7453	49	16	us	us	PROPN
fbem-7453	49	17	dollar	dollar	NOUN
fbem-7453	49	18	,	,	PUNCT
fbem-7453	49	19	albeit	albeit	SCONJ
fbem-7453	49	20	briefly	briefly	ADV
fbem-7453	49	21	rising	rise	VERB
fbem-7453	49	22	.	.	PUNCT
fbem-7453	50	1	the	the	DET
fbem-7453	50	2	2005	2005	NUM
fbem-7453	50	3	exchange	exchange	NOUN
fbem-7453	50	4	rate	rate	NOUN
fbem-7453	50	5	reform	reform	NOUN
fbem-7453	50	6	demonstrated	demonstrate	VERB
fbem-7453	50	7	the	the	DET
fbem-7453	50	8	critical	critical	ADJ
fbem-7453	50	9	role	role	NOUN
fbem-7453	50	10	it	it	PRON
fbem-7453	50	11	played	play	VERB
fbem-7453	50	12	in	in	ADP
fbem-7453	50	13	china	china	PROPN
fbem-7453	50	14	's	's	PART
fbem-7453	50	15	sustained	sustained	ADJ
fbem-7453	50	16	economic	economic	ADJ
fbem-7453	50	17	growth	growth	NOUN
fbem-7453	50	18	by	by	ADP
fbem-7453	50	19	attracting	attract	VERB
fbem-7453	50	20	a	a	DET
fbem-7453	50	21	large	large	ADJ
fbem-7453	50	22	amount	amount	NOUN
fbem-7453	50	23	of	of	ADP
fbem-7453	50	24	foreign	foreign	ADJ
fbem-7453	50	25	capital	capital	NOUN
fbem-7453	50	26	,	,	PUNCT
fbem-7453	50	27	increasing	increase	VERB
fbem-7453	50	28	resident	resident	ADJ
fbem-7453	50	29	consumption	consumption	NOUN
fbem-7453	50	30	,	,	PUNCT
fbem-7453	50	31	expanding	expand	VERB
fbem-7453	50	32	employment	employment	NOUN
fbem-7453	50	33	,	,	PUNCT
fbem-7453	50	34	and	and	CCONJ
fbem-7453	50	35	increasing	increase	VERB
fbem-7453	50	36	the	the	DET
fbem-7453	50	37	volume	volume	NOUN
fbem-7453	50	38	of	of	ADP
fbem-7453	50	39	import	import	NOUN
fbem-7453	50	40	and	and	CCONJ
fbem-7453	50	41	export	export	NOUN
fbem-7453	50	42	trade	trade	NOUN
fbem-7453	50	43	,	,	PUNCT
fbem-7453	50	44	among	among	ADP
fbem-7453	50	45	other	other	ADJ
fbem-7453	50	46	things	thing	NOUN
fbem-7453	50	47	,	,	PUNCT
fbem-7453	50	48	to	to	PART
fbem-7453	50	49	promote	promote	VERB
fbem-7453	50	50	the	the	DET
fbem-7453	50	51	sustained	sustained	ADJ
fbem-7453	50	52	growth	growth	NOUN
fbem-7453	50	53	of	of	ADP
fbem-7453	50	54	the	the	DET
fbem-7453	50	55	chinese	chinese	ADJ
fbem-7453	50	56	economy	economy	NOUN
fbem-7453	50	57	over	over	ADP
fbem-7453	50	58	a	a	DET
fbem-7453	50	59	specific	specific	ADJ
fbem-7453	50	60	time	time	NOUN
fbem-7453	50	61	period	period	NOUN
fbem-7453	50	62	.	.	PUNCT
fbem-7453	51	1	each	each	DET
fbem-7453	51	2	adjustment	adjustment	NOUN
fbem-7453	51	3	in	in	ADP
fbem-7453	51	4	the	the	DET
fbem-7453	51	5	exchange	exchange	NOUN
fbem-7453	51	6	rate	rate	NOUN
fbem-7453	51	7	system	system	NOUN
fbem-7453	51	8	during	during	ADP
fbem-7453	51	9	the	the	DET
fbem-7453	51	10	course	course	NOUN
fbem-7453	51	11	of	of	ADP
fbem-7453	51	12	the	the	DET
fbem-7453	51	13	renminbi	renminbi	NOUN
fbem-7453	51	14	exchange	exchange	NOUN
fbem-7453	51	15	rate	rate	NOUN
fbem-7453	51	16	system	system	NOUN
fbem-7453	51	17	reform	reform	NOUN
fbem-7453	51	18	incorporates	incorporate	VERB
fbem-7453	51	19	the	the	DET
fbem-7453	51	20	characteristics	characteristic	NOUN
fbem-7453	51	21	and	and	CCONJ
fbem-7453	51	22	experiences	experience	NOUN
fbem-7453	51	23	of	of	ADP
fbem-7453	51	24	previous	previous	ADJ
fbem-7453	51	25	exchange	exchange	NOUN
fbem-7453	51	26	rate	rate	NOUN
fbem-7453	51	27	reforms	reform	NOUN
fbem-7453	51	28	.	.	PUNCT
fbem-7453	52	1	then	then	ADV
fbem-7453	52	2	,	,	PUNCT
fbem-7453	52	3	they	they	PRON
fbem-7453	52	4	all	all	PRON
fbem-7453	52	5	try	try	VERB
fbem-7453	52	6	to	to	PART
fbem-7453	52	7	accelerate	accelerate	VERB
fbem-7453	52	8	the	the	DET
fbem-7453	52	9	process	process	NOUN
fbem-7453	52	10	of	of	ADP
fbem-7453	52	11	renminbi	renminbi	NOUN
fbem-7453	52	12	marketization	marketization	NOUN
fbem-7453	52	13	and	and	CCONJ
fbem-7453	52	14	internationalization	internationalization	NOUN
fbem-7453	52	15	in	in	ADP
fbem-7453	52	16	order	order	NOUN
fbem-7453	52	17	to	to	PART
fbem-7453	52	18	match	match	VERB
fbem-7453	52	19	china	china	PROPN
fbem-7453	52	20	's	's	PART
fbem-7453	52	21	exchange	exchange	NOUN
fbem-7453	52	22	rate	rate	NOUN
fbem-7453	52	23	regime	regime	NOUN
fbem-7453	52	24	with	with	ADP
fbem-7453	52	25	the	the	DET
fbem-7453	52	26	global	global	ADJ
fbem-7453	52	27	market	market	NOUN
fbem-7453	52	28	.	.	PUNCT
fbem-7453	53	1	their	their	PRON
fbem-7453	53	2	goal	goal	NOUN
fbem-7453	53	3	is	be	AUX
fbem-7453	53	4	to	to	PART
fbem-7453	53	5	allow	allow	VERB
fbem-7453	53	6	china	china	PROPN
fbem-7453	53	7	's	's	PART
fbem-7453	53	8	exchange	exchange	NOUN
fbem-7453	53	9	rate	rate	NOUN
fbem-7453	53	10	system	system	NOUN
fbem-7453	53	11	to	to	PART
fbem-7453	53	12	play	play	VERB
fbem-7453	53	13	a	a	DET
fbem-7453	53	14	bigger	big	ADJ
fbem-7453	53	15	role	role	NOUN
fbem-7453	53	16	in	in	ADP
fbem-7453	53	17	international	international	ADJ
fbem-7453	53	18	business	business	NOUN
fbem-7453	53	19	and	and	CCONJ
fbem-7453	53	20	the	the	DET
fbem-7453	53	21	global	global	ADJ
fbem-7453	53	22	economy	economy	NOUN
fbem-7453	53	23	,	,	PUNCT
fbem-7453	53	24	driving	drive	VERB
fbem-7453	53	25	china	china	PROPN
fbem-7453	53	26	's	's	PART
fbem-7453	53	27	economy	economy	NOUN
fbem-7453	53	28	toward	toward	ADP
fbem-7453	53	29	long	long	ADJ
fbem-7453	53	30	-	-	PUNCT
fbem-7453	53	31	term	term	NOUN
fbem-7453	53	32	prosperity[3	prosperity[3	PROPN
fbem-7453	53	33	]	]	X
fbem-7453	53	34	.	.	PUNCT
fbem-7453	54	1	china	china	PROPN
fbem-7453	54	2	should	should	AUX
fbem-7453	54	3	pay	pay	VERB
fbem-7453	54	4	particular	particular	ADJ
fbem-7453	54	5	attention	attention	NOUN
fbem-7453	54	6	to	to	ADP
fbem-7453	54	7	the	the	DET
fbem-7453	54	8	important	important	ADJ
fbem-7453	54	9	role	role	NOUN
fbem-7453	54	10	that	that	PRON
fbem-7453	54	11	institutional	institutional	ADJ
fbem-7453	54	12	reform	reform	NOUN
fbem-7453	54	13	plays	play	VERB
fbem-7453	54	14	in	in	ADP
fbem-7453	54	15	the	the	DET
fbem-7453	54	16	country	country	NOUN
fbem-7453	54	17	's	's	PART
fbem-7453	54	18	economic	economic	ADJ
fbem-7453	54	19	development	development	NOUN
fbem-7453	54	20	and	and	CCONJ
fbem-7453	54	21	continuously	continuously	ADV
fbem-7453	54	22	summarize	summarize	VERB
fbem-7453	54	23	past	past	ADJ
fbem-7453	54	24	experience	experience	NOUN
fbem-7453	54	25	and	and	CCONJ
fbem-7453	54	26	lessons	lesson	NOUN
fbem-7453	54	27	.	.	PUNCT
fbem-7453	55	1	it	it	PRON
fbem-7453	55	2	is	be	AUX
fbem-7453	55	3	crucial	crucial	ADJ
fbem-7453	55	4	to	to	PART
fbem-7453	55	5	link	link	VERB
fbem-7453	55	6	the	the	DET
fbem-7453	55	7	route	route	NOUN
fbem-7453	55	8	of	of	ADP
fbem-7453	55	9	institutional	institutional	ADJ
fbem-7453	55	10	reform	reform	NOUN
fbem-7453	55	11	with	with	ADP
fbem-7453	55	12	the	the	DET
fbem-7453	55	13	contemporary	contemporary	ADJ
fbem-7453	55	14	chinese	chinese	ADJ
fbem-7453	55	15	context	context	NOUN
fbem-7453	55	16	.	.	PUNCT
fbem-7453	56	1	some	some	DET
fbem-7453	56	2	key	key	ADJ
fbem-7453	56	3	conclusions	conclusion	NOUN
fbem-7453	56	4	may	may	AUX
fbem-7453	56	5	be	be	AUX
fbem-7453	56	6	drawn	draw	VERB
fbem-7453	56	7	from	from	ADP
fbem-7453	56	8	the	the	DET
fbem-7453	56	9	history	history	NOUN
fbem-7453	56	10	of	of	ADP
fbem-7453	56	11	the	the	DET
fbem-7453	56	12	renminbi	renminbi	NOUN
fbem-7453	56	13	's	's	PART
fbem-7453	56	14	exchange	exchange	NOUN
fbem-7453	56	15	rate	rate	NOUN
fbem-7453	56	16	mechanism	mechanism	NOUN
fbem-7453	56	17	revision[4,5	revision[4,5	PROPN
fbem-7453	56	18	]	]	PUNCT
fbem-7453	56	19	.	.	PUNCT
fbem-7453	57	1	the	the	DET
fbem-7453	57	2	following	follow	VERB
fbem-7453	57	3	will	will	AUX
fbem-7453	57	4	offer	offer	VERB
fbem-7453	57	5	an	an	DET
fbem-7453	57	6	outline	outline	NOUN
fbem-7453	57	7	of	of	ADP
fbem-7453	57	8	china	china	PROPN
fbem-7453	57	9	's	's	PART
fbem-7453	57	10	experience	experience	NOUN
fbem-7453	57	11	with	with	ADP
fbem-7453	57	12	exchange	exchange	NOUN
fbem-7453	57	13	rate	rate	NOUN
fbem-7453	57	14	reform	reform	NOUN
fbem-7453	57	15	:	:	PUNCT
fbem-7453	57	16	(	(	PUNCT
fbem-7453	57	17	i	i	NOUN
fbem-7453	57	18	)	)	PUNCT
fbem-7453	57	19	adopting	adopt	VERB
fbem-7453	57	20	a	a	DET
fbem-7453	57	21	gradual	gradual	ADJ
fbem-7453	57	22	model	model	NOUN
fbem-7453	57	23	to	to	PART
fbem-7453	57	24	significantly	significantly	ADV
fbem-7453	57	25	reduce	reduce	VERB
fbem-7453	57	26	the	the	DET
fbem-7453	57	27	risk	risk	NOUN
fbem-7453	57	28	of	of	ADP
fbem-7453	57	29	reform	reform	NOUN
fbem-7453	57	30	.	.	PUNCT
fbem-7453	58	1	(	(	PUNCT
fbem-7453	58	2	ii	ii	NOUN
fbem-7453	58	3	)	)	PUNCT
fbem-7453	58	4	selecting	select	VERB
fbem-7453	58	5	the	the	DET
fbem-7453	58	6	exchange	exchange	NOUN
fbem-7453	58	7	rate	rate	NOUN
fbem-7453	58	8	system	system	NOUN
fbem-7453	58	9	arrangement	arrangement	NOUN
fbem-7453	58	10	in	in	ADP
fbem-7453	58	11	accordance	accordance	NOUN
fbem-7453	58	12	with	with	ADP
fbem-7453	58	13	the	the	DET
fbem-7453	58	14	economic	economic	ADJ
fbem-7453	58	15	development	development	NOUN
fbem-7453	58	16	strategy	strategy	NOUN
fbem-7453	58	17	and	and	CCONJ
fbem-7453	58	18	relevant	relevant	ADJ
fbem-7453	58	19	policy	policy	NOUN
fbem-7453	58	20	objectives	objective	NOUN
fbem-7453	58	21	,	,	PUNCT
fbem-7453	58	22	and	and	CCONJ
fbem-7453	58	23	making	make	VERB
fbem-7453	58	24	adjustments	adjustment	NOUN
fbem-7453	58	25	in	in	ADP
fbem-7453	58	26	a	a	DET
fbem-7453	58	27	timely	timely	ADJ
fbem-7453	58	28	manner	manner	NOUN
fbem-7453	58	29	(	(	PUNCT
fbem-7453	58	30	iii	iii	NOUN
fbem-7453	58	31	)	)	PUNCT
fbem-7453	58	32	paying	pay	VERB
fbem-7453	58	33	attention	attention	NOUN
fbem-7453	58	34	to	to	ADP
fbem-7453	58	35	coordination	coordination	NOUN
fbem-7453	58	36	and	and	CCONJ
fbem-7453	58	37	expectation	expectation	NOUN
fbem-7453	58	38	management	management	NOUN
fbem-7453	58	39	among	among	ADP
fbem-7453	58	40	different	different	ADJ
fbem-7453	58	41	reform	reform	NOUN
fbem-7453	58	42	measures	measure	NOUN
fbem-7453	58	43	when	when	SCONJ
fbem-7453	58	44	introducing	introduce	VERB
fbem-7453	58	45	reform	reform	NOUN
fbem-7453	58	46	programs	program	NOUN
fbem-7453	58	47	(	(	PUNCT
fbem-7453	58	48	iv	iv	X
fbem-7453	58	49	)	)	PUNCT
fbem-7453	58	50	making	make	VERB
fbem-7453	58	51	necessary	necessary	ADJ
fbem-7453	58	52	adjustments	adjustment	NOUN
fbem-7453	58	53	and	and	CCONJ
fbem-7453	58	54	corrections	correction	NOUN
fbem-7453	58	55	in	in	ADP
fbem-7453	58	56	a	a	DET
fbem-7453	58	57	timely	timely	ADJ
fbem-7453	58	58	manner	manner	NOUN
fbem-7453	58	59	in	in	ADP
fbem-7453	58	60	case	case	NOUN
fbem-7453	58	61	of	of	ADP
fbem-7453	58	62	unexpected	unexpected	ADJ
fbem-7453	58	63	shocks	shock	NOUN
fbem-7453	58	64	to	to	ADP
fbem-7453	58	65	the	the	DET
fbem-7453	58	66	introduction	introduction	NOUN
fbem-7453	58	67	of	of	ADP
fbem-7453	58	68	reform	reform	NOUN
fbem-7453	58	69	measures	measure	NOUN
fbem-7453	58	70	.	.	PUNCT
fbem-7453	59	1	references	reference	NOUN
fbem-7453	59	2	[	[	X
fbem-7453	59	3	1	1	X
fbem-7453	59	4	]	]	X
fbem-7453	59	5	weng	weng	PROPN
fbem-7453	59	6	z.q.(2019	z.q.(2019	PROPN
fbem-7453	59	7	)	)	PUNCT
fbem-7453	59	8	.	.	PUNCT
fbem-7453	60	1	the	the	DET
fbem-7453	60	2	reform	reform	NOUN
fbem-7453	60	3	process	process	NOUN
fbem-7453	60	4	and	and	CCONJ
fbem-7453	60	5	prospect	prospect	NOUN
fbem-7453	60	6	of	of	ADP
fbem-7453	60	7	the	the	DET
fbem-7453	60	8	rmb	rmb	PROPN
fbem-7453	60	9	exchange	exchange	NOUN
fbem-7453	60	10	rate	rate	NOUN
fbem-7453	60	11	system	system	NOUN
fbem-7453	60	12	.	.	PUNCT
fbem-7453	61	1	financial	financial	ADJ
fbem-7453	61	2	economy(10),18	economy(10),18	PROPN
fbem-7453	61	3	-	-	SYM
fbem-7453	61	4	20	20	NUM
fbem-7453	61	5	.	.	PUNCT
fbem-7453	62	1	[	[	X
fbem-7453	62	2	2	2	NUM
fbem-7453	62	3	]	]	X
fbem-7453	62	4	guan	guan	PROPN
fbem-7453	62	5	b.b	b.b	PROPN
fbem-7453	62	6	.	.	PROPN
fbem-7453	62	7	&	&	CCONJ
fbem-7453	62	8	xia	xia	PROPN
fbem-7453	62	9	y.x.(2018	y.x.(2018	PROPN
fbem-7453	62	10	)	)	PUNCT
fbem-7453	62	11	.	.	PUNCT
fbem-7453	63	1	research	research	NOUN
fbem-7453	63	2	on	on	ADP
fbem-7453	63	3	the	the	DET
fbem-7453	63	4	impact	impact	NOUN
fbem-7453	63	5	of	of	ADP
fbem-7453	63	6	the	the	DET
fbem-7453	63	7	reform	reform	NOUN
fbem-7453	63	8	of	of	ADP
fbem-7453	63	9	the	the	DET
fbem-7453	63	10	rmb	rmb	PROPN
fbem-7453	63	11	exchange	exchange	NOUN
fbem-7453	63	12	rate	rate	NOUN
fbem-7453	63	13	system	system	NOUN
fbem-7453	63	14	on	on	ADP
fbem-7453	63	15	macroeconomic	macroeconomic	ADJ
fbem-7453	63	16	development	development	NOUN
fbem-7453	63	17	.	.	PUNCT
fbem-7453	64	1	journal	journal	PROPN
fbem-7453	64	2	of	of	ADP
fbem-7453	64	3	nantong	nantong	PROPN
fbem-7453	64	4	university	university	PROPN
fbem-7453	64	5	(	(	PUNCT
fbem-7453	64	6	social	social	ADJ
fbem-7453	64	7	science	science	NOUN
fbem-7453	64	8	edition)(06),124	edition)(06),124	NOUN
fbem-7453	64	9	-	-	PUNCT
fbem-7453	64	10	130	130	NUM
fbem-7453	64	11	.	.	PUNCT
fbem-7453	65	1	[	[	X
fbem-7453	65	2	3	3	X
fbem-7453	65	3	]	]	X
fbem-7453	65	4	zhang	zhang	PROPN
fbem-7453	65	5	m	m	PROPN
fbem-7453	65	6	&	&	CCONJ
fbem-7453	65	7	chen	chen	PROPN
fbem-7453	65	8	y.m.(2022	y.m.(2022	PROPN
fbem-7453	65	9	)	)	PUNCT
fbem-7453	65	10	.	.	PUNCT
fbem-7453	66	1	the	the	DET
fbem-7453	66	2	structural	structural	ADJ
fbem-7453	66	3	evolution	evolution	NOUN
fbem-7453	66	4	of	of	ADP
fbem-7453	66	5	the	the	DET
fbem-7453	66	6	reform	reform	NOUN
fbem-7453	66	7	of	of	ADP
fbem-7453	66	8	the	the	DET
fbem-7453	66	9	rmb	rmb	PROPN
fbem-7453	66	10	exchange	exchange	NOUN
fbem-7453	66	11	rate	rate	NOUN
fbem-7453	66	12	system	system	NOUN
fbem-7453	66	13	:	:	PUNCT
fbem-7453	66	14	historical	historical	ADJ
fbem-7453	66	15	review	review	NOUN
fbem-7453	66	16	,	,	PUNCT
fbem-7453	66	17	experience	experience	NOUN
fbem-7453	66	18	summary	summary	NOUN
fbem-7453	66	19	and	and	CCONJ
fbem-7453	66	20	prospect	prospect	NOUN
fbem-7453	66	21	.	.	PUNCT
fbem-7453	67	1	finance	finance	NOUN
fbem-7453	67	2	and	and	CCONJ
fbem-7453	67	3	trade	trade	NOUN
fbem-7453	67	4	economy(12),15	economy(12),15	PROPN
fbem-7453	67	5	-	-	PROPN
fbem-7453	67	6	31	31	NUM
fbem-7453	67	7	.	.	PUNCT
fbem-7453	68	1	[	[	X
fbem-7453	68	2	4	4	NUM
fbem-7453	68	3	]	]	X
fbem-7453	68	4	zhang	zhang	PROPN
fbem-7453	68	5	l.q.(2021	l.q.(2021	PROPN
fbem-7453	68	6	)	)	PUNCT
fbem-7453	68	7	.	.	PUNCT
fbem-7453	69	1	reform	reform	NOUN
fbem-7453	69	2	of	of	ADP
fbem-7453	69	3	rmb	rmb	PROPN
fbem-7453	69	4	exchange	exchange	NOUN
fbem-7453	69	5	rate	rate	NOUN
fbem-7453	69	6	formation	formation	NOUN
fbem-7453	69	7	mechanism	mechanism	NOUN
fbem-7453	69	8	:	:	PUNCT
fbem-7453	69	9	main	main	ADJ
fbem-7453	69	10	experience	experience	NOUN
fbem-7453	69	11	and	and	CCONJ
fbem-7453	69	12	prospect	prospect	NOUN
fbem-7453	69	13	.	.	PUNCT
fbem-7453	70	1	china	china	PROPN
fbem-7453	70	2	foreign	foreign	PROPN
fbem-7453	70	3	exchange(13),16	exchange(13),16	PROPN
fbem-7453	70	4	-	-	PUNCT
fbem-7453	70	5	18	18	NUM
fbem-7453	70	6	.	.	PUNCT
fbem-7453	71	1	[	[	X
fbem-7453	71	2	5	5	NUM
fbem-7453	71	3	]	]	X
fbem-7453	71	4	deng	deng	PROPN
fbem-7453	71	5	n.j.(2021	n.j.(2021	PROPN
fbem-7453	71	6	)	)	PUNCT
fbem-7453	71	7	.	.	PUNCT
fbem-7453	72	1	research	research	NOUN
fbem-7453	72	2	on	on	ADP
fbem-7453	72	3	the	the	DET
fbem-7453	72	4	path	path	NOUN
fbem-7453	72	5	of	of	ADP
fbem-7453	72	6	rmb	rmb	NOUN
fbem-7453	72	7	internationalization	internationalization	NOUN
fbem-7453	72	8	under	under	ADP
fbem-7453	72	9	the	the	DET
fbem-7453	72	10	international	international	ADJ
fbem-7453	72	11	monetary	monetary	ADJ
fbem-7453	72	12	system	system	NOUN
fbem-7453	72	13	-	-	PUNCT
fbem-7453	72	14	based	base	VERB
fbem-7453	72	15	on	on	ADP
fbem-7453	72	16	the	the	DET
fbem-7453	72	17	perspective	perspective	NOUN
fbem-7453	72	18	of	of	ADP
fbem-7453	72	19	rmb	rmb	PROPN
fbem-7453	72	20	exchange	exchange	NOUN
fbem-7453	72	21	rate	rate	NOUN
fbem-7453	72	22	system	system	NOUN
fbem-7453	72	23	.	.	PUNCT
fbem-7453	73	1	chinese	chinese	ADJ
fbem-7453	73	2	business	business	NOUN
fbem-7453	73	3	theory(21),91	theory(21),91	PROPN
fbem-7453	73	4	-	-	PUNCT
fbem-7453	73	5	93	93	NUM
fbem-7453	73	6	.	.	PUNCT