id sid tid token lemma pos cord-032285-gkd1wb09 1 1 key key JJ cord-032285-gkd1wb09 1 2 : : : cord-032285-gkd1wb09 1 3 cord-032285-gkd1wb09 cord-032285-gkd1wb09 JJ cord-032285-gkd1wb09 1 4 authors author NNS cord-032285-gkd1wb09 1 5 : : : cord-032285-gkd1wb09 1 6 Collier Collier NNP cord-032285-gkd1wb09 1 7 , , , cord-032285-gkd1wb09 1 8 Paul Paul NNP cord-032285-gkd1wb09 1 9 ; ; : cord-032285-gkd1wb09 1 10 Mayer Mayer NNP cord-032285-gkd1wb09 1 11 , , , cord-032285-gkd1wb09 1 12 Colin Colin NNP cord-032285-gkd1wb09 1 13 title title NN cord-032285-gkd1wb09 1 14 : : : cord-032285-gkd1wb09 2 1 Reforming reform VBG cord-032285-gkd1wb09 2 2 the the DT cord-032285-gkd1wb09 2 3 UK UK NNP cord-032285-gkd1wb09 2 4 financial financial JJ cord-032285-gkd1wb09 2 5 system system NN cord-032285-gkd1wb09 2 6 to to TO cord-032285-gkd1wb09 2 7 promote promote VB cord-032285-gkd1wb09 2 8 regional regional JJ cord-032285-gkd1wb09 2 9 development development NN cord-032285-gkd1wb09 2 10 in in IN cord-032285-gkd1wb09 2 11 post post JJ cord-032285-gkd1wb09 2 12 - - JJ cord-032285-gkd1wb09 2 13 COVID covid JJ cord-032285-gkd1wb09 2 14 Britain Britain NNP cord-032285-gkd1wb09 2 15 date date NN cord-032285-gkd1wb09 3 1 : : : cord-032285-gkd1wb09 3 2 2020 2020 CD cord-032285-gkd1wb09 3 3 - - HYPH cord-032285-gkd1wb09 3 4 08 08 CD cord-032285-gkd1wb09 3 5 - - SYM cord-032285-gkd1wb09 3 6 29 29 CD cord-032285-gkd1wb09 3 7 journal journal NN cord-032285-gkd1wb09 3 8 : : : cord-032285-gkd1wb09 4 1 nan nan NNP cord-032285-gkd1wb09 4 2 DOI DOI NNP cord-032285-gkd1wb09 4 3 : : : cord-032285-gkd1wb09 4 4 10.1093 10.1093 CD cord-032285-gkd1wb09 4 5 / / SYM cord-032285-gkd1wb09 4 6 oxrep oxrep NNP cord-032285-gkd1wb09 4 7 / / SYM cord-032285-gkd1wb09 4 8 graa028 graa028 NNP cord-032285-gkd1wb09 4 9 sha sha NNP cord-032285-gkd1wb09 4 10 : : : cord-032285-gkd1wb09 5 1 075eaab112cdb6f9d983f028437b493858ff8dcb 075eaab112cdb6f9d983f028437b493858ff8dcb CD cord-032285-gkd1wb09 5 2 doc_id doc_id CD cord-032285-gkd1wb09 5 3 : : : cord-032285-gkd1wb09 6 1 32285 32285 CD cord-032285-gkd1wb09 6 2 cord_uid cord_uid NNS cord-032285-gkd1wb09 6 3 : : : cord-032285-gkd1wb09 6 4 gkd1wb09 gkd1wb09 XX cord-032285-gkd1wb09 7 1 The the DT cord-032285-gkd1wb09 7 2 UK UK NNP cord-032285-gkd1wb09 7 3 government government NN cord-032285-gkd1wb09 7 4 faces face VBZ cord-032285-gkd1wb09 7 5 a a DT cord-032285-gkd1wb09 7 6 massive massive JJ cord-032285-gkd1wb09 7 7 post post JJ cord-032285-gkd1wb09 7 8 - - JJ cord-032285-gkd1wb09 7 9 COVID covid JJ cord-032285-gkd1wb09 7 10 problem problem NN cord-032285-gkd1wb09 7 11 in in IN cord-032285-gkd1wb09 7 12 restructuring restructure VBG cord-032285-gkd1wb09 7 13 failing fail VBG cord-032285-gkd1wb09 7 14 companies company NNS cord-032285-gkd1wb09 7 15 and and CC cord-032285-gkd1wb09 7 16 rebuilding rebuild VBG cord-032285-gkd1wb09 7 17 its -PRON- PRP$ cord-032285-gkd1wb09 7 18 already already RB cord-032285-gkd1wb09 7 19 depressed depress VBN cord-032285-gkd1wb09 7 20 regions region NNS cord-032285-gkd1wb09 7 21 . . . cord-032285-gkd1wb09 8 1 A a DT cord-032285-gkd1wb09 8 2 missing missing JJ cord-032285-gkd1wb09 8 3 part part NN cord-032285-gkd1wb09 8 4 of of IN cord-032285-gkd1wb09 8 5 the the DT cord-032285-gkd1wb09 8 6 solution solution NN cord-032285-gkd1wb09 8 7 is be VBZ cord-032285-gkd1wb09 8 8 to to TO cord-032285-gkd1wb09 8 9 link link VB cord-032285-gkd1wb09 8 10 government government NN cord-032285-gkd1wb09 8 11 as as RB cord-032285-gkd1wb09 8 12 well well RB cord-032285-gkd1wb09 8 13 as as IN cord-032285-gkd1wb09 8 14 private private JJ cord-032285-gkd1wb09 8 15 - - HYPH cord-032285-gkd1wb09 8 16 sector sector NN cord-032285-gkd1wb09 8 17 funding funding NN cord-032285-gkd1wb09 8 18 to to IN cord-032285-gkd1wb09 8 19 the the DT cord-032285-gkd1wb09 8 20 financing financing NN cord-032285-gkd1wb09 8 21 of of IN cord-032285-gkd1wb09 8 22 small small JJ cord-032285-gkd1wb09 8 23 and and CC cord-032285-gkd1wb09 8 24 medium medium JJ cord-032285-gkd1wb09 8 25 - - HYPH cord-032285-gkd1wb09 8 26 sized sized JJ cord-032285-gkd1wb09 8 27 enterprises enterprise NNS cord-032285-gkd1wb09 8 28 ( ( -LRB- cord-032285-gkd1wb09 8 29 SMEs sme NNS cord-032285-gkd1wb09 8 30 ) ) -RRB- cord-032285-gkd1wb09 8 31 in in IN cord-032285-gkd1wb09 8 32 the the DT cord-032285-gkd1wb09 8 33 regions region NNS cord-032285-gkd1wb09 8 34 . . . cord-032285-gkd1wb09 9 1 The the DT cord-032285-gkd1wb09 9 2 institutional institutional JJ cord-032285-gkd1wb09 9 3 structure structure NN cord-032285-gkd1wb09 9 4 that that WDT cord-032285-gkd1wb09 9 5 is be VBZ cord-032285-gkd1wb09 9 6 required require VBN cord-032285-gkd1wb09 9 7 has have VBZ cord-032285-gkd1wb09 9 8 precedents precedent NNS cord-032285-gkd1wb09 9 9 in in IN cord-032285-gkd1wb09 9 10 the the DT cord-032285-gkd1wb09 9 11 UK UK NNP cord-032285-gkd1wb09 9 12 , , , cord-032285-gkd1wb09 9 13 which which WDT cord-032285-gkd1wb09 9 14 can can MD cord-032285-gkd1wb09 9 15 be be VB cord-032285-gkd1wb09 9 16 used use VBN cord-032285-gkd1wb09 9 17 as as IN cord-032285-gkd1wb09 9 18 the the DT cord-032285-gkd1wb09 9 19 basis basis NN cord-032285-gkd1wb09 9 20 for for IN cord-032285-gkd1wb09 9 21 reforming reform VBG cord-032285-gkd1wb09 9 22 the the DT cord-032285-gkd1wb09 9 23 funding funding NN cord-032285-gkd1wb09 9 24 of of IN cord-032285-gkd1wb09 9 25 its -PRON- PRP$ cord-032285-gkd1wb09 9 26 SMEs sme NNS cord-032285-gkd1wb09 9 27 . . . cord-032285-gkd1wb09 10 1 This this DT cord-032285-gkd1wb09 10 2 paper paper NN cord-032285-gkd1wb09 10 3 is be VBZ cord-032285-gkd1wb09 10 4 about about IN cord-032285-gkd1wb09 10 5 the the DT cord-032285-gkd1wb09 10 6 promotion promotion NN cord-032285-gkd1wb09 10 7 of of IN cord-032285-gkd1wb09 10 8 small small JJ cord-032285-gkd1wb09 10 9 and and CC cord-032285-gkd1wb09 10 10 medium medium JJ cord-032285-gkd1wb09 10 11 - - HYPH cord-032285-gkd1wb09 10 12 sized sized JJ cord-032285-gkd1wb09 10 13 enterprises enterprise NNS cord-032285-gkd1wb09 10 14 ( ( -LRB- cord-032285-gkd1wb09 10 15 SMEs SMEs NNP cord-032285-gkd1wb09 10 16 ) ) -RRB- cord-032285-gkd1wb09 10 17 post post JJ cord-032285-gkd1wb09 10 18 - - JJ cord-032285-gkd1wb09 10 19 COVID covid JJ cord-032285-gkd1wb09 10 20 in in IN cord-032285-gkd1wb09 10 21 the the DT cord-032285-gkd1wb09 10 22 provinces province NNS cord-032285-gkd1wb09 10 23 of of IN cord-032285-gkd1wb09 10 24 the the DT cord-032285-gkd1wb09 10 25 UK UK NNP cord-032285-gkd1wb09 10 26 . . . cord-032285-gkd1wb09 11 1 We -PRON- PRP cord-032285-gkd1wb09 11 2 provide provide VBP cord-032285-gkd1wb09 11 3 evidence evidence NN cord-032285-gkd1wb09 11 4 on on IN cord-032285-gkd1wb09 11 5 why why WRB cord-032285-gkd1wb09 11 6 they -PRON- PRP cord-032285-gkd1wb09 11 7 are be VBP cord-032285-gkd1wb09 11 8 disproportionately disproportionately RB cord-032285-gkd1wb09 11 9 important important JJ cord-032285-gkd1wb09 11 10 during during IN cord-032285-gkd1wb09 11 11 times time NNS cord-032285-gkd1wb09 11 12 of of IN cord-032285-gkd1wb09 11 13 high high JJ cord-032285-gkd1wb09 11 14 uncertainty uncertainty NN cord-032285-gkd1wb09 11 15 such such JJ cord-032285-gkd1wb09 11 16 as as IN cord-032285-gkd1wb09 11 17 the the DT cord-032285-gkd1wb09 11 18 present present NN cord-032285-gkd1wb09 11 19 and and CC cord-032285-gkd1wb09 11 20 argue argue VBP cord-032285-gkd1wb09 11 21 that that IN cord-032285-gkd1wb09 11 22 public public JJ cord-032285-gkd1wb09 11 23 finance finance NN cord-032285-gkd1wb09 11 24 is be VBZ cord-032285-gkd1wb09 11 25 required require VBN cord-032285-gkd1wb09 11 26 to to TO cord-032285-gkd1wb09 11 27 pump pump VB cord-032285-gkd1wb09 11 28 - - HYPH cord-032285-gkd1wb09 11 29 prime prime NN cord-032285-gkd1wb09 11 30 the the DT cord-032285-gkd1wb09 11 31 local local JJ cord-032285-gkd1wb09 11 32 private private JJ cord-032285-gkd1wb09 11 33 institutions institution NNS cord-032285-gkd1wb09 11 34 that that WDT cord-032285-gkd1wb09 11 35 are be VBP cord-032285-gkd1wb09 11 36 needed need VBN cord-032285-gkd1wb09 11 37 to to TO cord-032285-gkd1wb09 11 38 fund fund VB cord-032285-gkd1wb09 11 39 them -PRON- PRP cord-032285-gkd1wb09 11 40 . . . cord-032285-gkd1wb09 12 1 There there EX cord-032285-gkd1wb09 12 2 are be VBP cord-032285-gkd1wb09 12 3 three three CD cord-032285-gkd1wb09 12 4 propositions proposition NNS cord-032285-gkd1wb09 12 5 that that WDT cord-032285-gkd1wb09 12 6 underpin underpin VBP cord-032285-gkd1wb09 12 7 the the DT cord-032285-gkd1wb09 12 8 paper paper NN cord-032285-gkd1wb09 12 9 . . . cord-032285-gkd1wb09 13 1 The the DT cord-032285-gkd1wb09 13 2 first first JJ cord-032285-gkd1wb09 13 3 is be VBZ cord-032285-gkd1wb09 13 4 that that DT cord-032285-gkd1wb09 13 5 to to TO cord-032285-gkd1wb09 13 6 offset offset VB cord-032285-gkd1wb09 13 7 job job NN cord-032285-gkd1wb09 13 8 loss loss NN cord-032285-gkd1wb09 13 9 from from IN cord-032285-gkd1wb09 13 10 shifts shift NNS cord-032285-gkd1wb09 13 11 in in IN cord-032285-gkd1wb09 13 12 demand demand NN cord-032285-gkd1wb09 13 13 patterns pattern NNS cord-032285-gkd1wb09 13 14 , , , cord-032285-gkd1wb09 13 15 market market NN cord-032285-gkd1wb09 13 16 opportunities opportunity NNS cord-032285-gkd1wb09 13 17 will will MD cord-032285-gkd1wb09 13 18 need need VB cord-032285-gkd1wb09 13 19 to to TO cord-032285-gkd1wb09 13 20 be be VB cord-032285-gkd1wb09 13 21 met meet VBN cord-032285-gkd1wb09 13 22 by by IN cord-032285-gkd1wb09 13 23 speculative speculative JJ cord-032285-gkd1wb09 13 24 private private JJ cord-032285-gkd1wb09 13 25 investment investment NN cord-032285-gkd1wb09 13 26 . . . cord-032285-gkd1wb09 14 1 Yet yet CC cord-032285-gkd1wb09 14 2 the the DT cord-032285-gkd1wb09 14 3 rise rise NN cord-032285-gkd1wb09 14 4 in in IN cord-032285-gkd1wb09 14 5 uncertainty uncertainty NN cord-032285-gkd1wb09 14 6 due due JJ cord-032285-gkd1wb09 14 7 to to IN cord-032285-gkd1wb09 14 8 COVID COVID NNP cord-032285-gkd1wb09 14 9 will will MD cord-032285-gkd1wb09 14 10 discourage discourage VB cord-032285-gkd1wb09 14 11 such such JJ cord-032285-gkd1wb09 14 12 ventures venture NNS cord-032285-gkd1wb09 14 13 . . . cord-032285-gkd1wb09 15 1 The the DT cord-032285-gkd1wb09 15 2 aversion aversion NN cord-032285-gkd1wb09 15 3 to to IN cord-032285-gkd1wb09 15 4 uncertainty uncertainty NN cord-032285-gkd1wb09 15 5 is be VBZ cord-032285-gkd1wb09 15 6 probably probably RB cord-032285-gkd1wb09 15 7 greater great JJR cord-032285-gkd1wb09 15 8 in in IN cord-032285-gkd1wb09 15 9 large large JJ cord-032285-gkd1wb09 15 10 firms firm NNS cord-032285-gkd1wb09 15 11 with with IN cord-032285-gkd1wb09 15 12 formal formal JJ cord-032285-gkd1wb09 15 13 processes process NNS cord-032285-gkd1wb09 15 14 for for IN cord-032285-gkd1wb09 15 15 approving approve VBG cord-032285-gkd1wb09 15 16 decisions decision NNS cord-032285-gkd1wb09 15 17 , , , cord-032285-gkd1wb09 15 18 than than IN cord-032285-gkd1wb09 15 19 in in IN cord-032285-gkd1wb09 15 20 entrepreneurial entrepreneurial JJ cord-032285-gkd1wb09 15 21 SMEs sme NNS cord-032285-gkd1wb09 15 22 driven drive VBN cord-032285-gkd1wb09 15 23 by by IN cord-032285-gkd1wb09 15 24 ' ' `` cord-032285-gkd1wb09 15 25 animal animal NN cord-032285-gkd1wb09 15 26 spirits spirit NNS cord-032285-gkd1wb09 15 27 ' ' '' cord-032285-gkd1wb09 15 28 . . . cord-032285-gkd1wb09 16 1 But but CC cord-032285-gkd1wb09 16 2 while while IN cord-032285-gkd1wb09 16 3 such such JJ cord-032285-gkd1wb09 16 4 SMEs sme NNS cord-032285-gkd1wb09 16 5 may may MD cord-032285-gkd1wb09 16 6 be be VB cord-032285-gkd1wb09 16 7 willing willing JJ cord-032285-gkd1wb09 16 8 to to TO cord-032285-gkd1wb09 16 9 invest invest VB cord-032285-gkd1wb09 16 10 , , , cord-032285-gkd1wb09 16 11 British british JJ cord-032285-gkd1wb09 16 12 finance finance NN cord-032285-gkd1wb09 16 13 is be VBZ cord-032285-gkd1wb09 16 14 skewed skewed JJ cord-032285-gkd1wb09 16 15 against against IN cord-032285-gkd1wb09 16 16 them -PRON- PRP cord-032285-gkd1wb09 16 17 . . . cord-032285-gkd1wb09 17 1 The the DT cord-032285-gkd1wb09 17 2 provision provision NN cord-032285-gkd1wb09 17 3 of of IN cord-032285-gkd1wb09 17 4 external external JJ cord-032285-gkd1wb09 17 5 investment investment NN cord-032285-gkd1wb09 17 6 finance finance NN cord-032285-gkd1wb09 17 7 for for IN cord-032285-gkd1wb09 17 8 SMEs sme NNS cord-032285-gkd1wb09 17 9 from from IN cord-032285-gkd1wb09 17 10 banks bank NNS cord-032285-gkd1wb09 17 11 depends depend VBZ cord-032285-gkd1wb09 17 12 upon upon IN cord-032285-gkd1wb09 17 13 collateral collateral NN cord-032285-gkd1wb09 17 14 , , , cord-032285-gkd1wb09 17 15 while while IN cord-032285-gkd1wb09 17 16 venture venture NN cord-032285-gkd1wb09 17 17 capital capital NN cord-032285-gkd1wb09 17 18 , , , cord-032285-gkd1wb09 17 19 which which WDT cord-032285-gkd1wb09 17 20 finances finance VBZ cord-032285-gkd1wb09 17 21 on on IN cord-032285-gkd1wb09 17 22 prospects prospect NNS cord-032285-gkd1wb09 17 23 , , , cord-032285-gkd1wb09 17 24 depends depend VBZ cord-032285-gkd1wb09 17 25 upon upon IN cord-032285-gkd1wb09 17 26 the the DT cord-032285-gkd1wb09 17 27 commercial commercial JJ cord-032285-gkd1wb09 17 28 viability viability NN cord-032285-gkd1wb09 17 29 of of IN cord-032285-gkd1wb09 17 30 generating generate VBG cord-032285-gkd1wb09 17 31 the the DT cord-032285-gkd1wb09 17 32 extensive extensive JJ cord-032285-gkd1wb09 17 33 local local JJ cord-032285-gkd1wb09 17 34 knowledge knowledge NN cord-032285-gkd1wb09 17 35 on on IN cord-032285-gkd1wb09 17 36 which which WDT cord-032285-gkd1wb09 17 37 judgments judgment NNS cord-032285-gkd1wb09 17 38 must must MD cord-032285-gkd1wb09 17 39 be be VB cord-032285-gkd1wb09 17 40 based base VBN cord-032285-gkd1wb09 17 41 . . . cord-032285-gkd1wb09 18 1 The the DT cord-032285-gkd1wb09 18 2 second second JJ cord-032285-gkd1wb09 18 3 proposition proposition NN cord-032285-gkd1wb09 18 4 is be VBZ cord-032285-gkd1wb09 18 5 that that IN cord-032285-gkd1wb09 18 6 due due IN cord-032285-gkd1wb09 18 7 to to IN cord-032285-gkd1wb09 18 8 the the DT cord-032285-gkd1wb09 18 9 extreme extreme JJ cord-032285-gkd1wb09 18 10 concentration concentration NN cord-032285-gkd1wb09 18 11 of of IN cord-032285-gkd1wb09 18 12 British british JJ cord-032285-gkd1wb09 18 13 finance finance NN cord-032285-gkd1wb09 18 14 in in IN cord-032285-gkd1wb09 18 15 London London NNP cord-032285-gkd1wb09 18 16 , , , cord-032285-gkd1wb09 18 17 the the DT cord-032285-gkd1wb09 18 18 SME SME NNP cord-032285-gkd1wb09 18 19 disadvantage disadvantage NN cord-032285-gkd1wb09 18 20 in in IN cord-032285-gkd1wb09 18 21 finance finance NN cord-032285-gkd1wb09 18 22 is be VBZ cord-032285-gkd1wb09 18 23 much much RB cord-032285-gkd1wb09 18 24 greater great JJR cord-032285-gkd1wb09 18 25 in in IN cord-032285-gkd1wb09 18 26 the the DT cord-032285-gkd1wb09 18 27 provinces province NNS cord-032285-gkd1wb09 18 28 : : : cord-032285-gkd1wb09 18 29 there there EX cord-032285-gkd1wb09 18 30 is be VBZ cord-032285-gkd1wb09 18 31 a a DT cord-032285-gkd1wb09 18 32 ' ' `` cord-032285-gkd1wb09 18 33 liability liability NN cord-032285-gkd1wb09 18 34 of of IN cord-032285-gkd1wb09 18 35 distance distance NN cord-032285-gkd1wb09 18 36 ' ' '' cord-032285-gkd1wb09 18 37 which which WDT cord-032285-gkd1wb09 18 38 reduces reduce VBZ cord-032285-gkd1wb09 18 39 both both DT cord-032285-gkd1wb09 18 40 bank bank NN cord-032285-gkd1wb09 18 41 lending lending NN cord-032285-gkd1wb09 18 42 and and CC cord-032285-gkd1wb09 18 43 venture venture NN cord-032285-gkd1wb09 18 44 capital capital NN cord-032285-gkd1wb09 18 45 . . . cord-032285-gkd1wb09 19 1 This this DT cord-032285-gkd1wb09 19 2 has have VBZ cord-032285-gkd1wb09 19 3 already already RB cord-032285-gkd1wb09 19 4 contributed contribute VBN cord-032285-gkd1wb09 19 5 to to IN cord-032285-gkd1wb09 19 6 the the DT cord-032285-gkd1wb09 19 7 extreme extreme JJ cord-032285-gkd1wb09 19 8 spatial spatial JJ cord-032285-gkd1wb09 19 9 differences difference NNS cord-032285-gkd1wb09 19 10 in in IN cord-032285-gkd1wb09 19 11 productivity productivity NN cord-032285-gkd1wb09 19 12 : : : cord-032285-gkd1wb09 19 13 high high JJ cord-032285-gkd1wb09 19 14 productivity productivity NN cord-032285-gkd1wb09 19 15 does do VBZ cord-032285-gkd1wb09 19 16 not not RB cord-032285-gkd1wb09 19 17 diffuse diffuse VB cord-032285-gkd1wb09 19 18 from from IN cord-032285-gkd1wb09 19 19 firms firm NNS cord-032285-gkd1wb09 19 20 in in IN cord-032285-gkd1wb09 19 21 the the DT cord-032285-gkd1wb09 19 22 south south NNP cord-032285-gkd1wb09 19 23 - - HYPH cord-032285-gkd1wb09 19 24 east east NN cord-032285-gkd1wb09 19 25 to to IN cord-032285-gkd1wb09 19 26 provincial provincial JJ cord-032285-gkd1wb09 19 27 SMEs sme NNS cord-032285-gkd1wb09 19 28 : : : cord-032285-gkd1wb09 19 29 they -PRON- PRP cord-032285-gkd1wb09 19 30 are be VBP cord-032285-gkd1wb09 19 31 ' ' `` cord-032285-gkd1wb09 19 32 hubs hub NNS cord-032285-gkd1wb09 19 33 without without IN cord-032285-gkd1wb09 19 34 spokes spoke NNS cord-032285-gkd1wb09 19 35 ' ' '' cord-032285-gkd1wb09 19 36 . . . cord-032285-gkd1wb09 20 1 Hence hence RB cord-032285-gkd1wb09 20 2 , , , cord-032285-gkd1wb09 20 3 if if IN cord-032285-gkd1wb09 20 4 the the DT cord-032285-gkd1wb09 20 5 finance finance NN cord-032285-gkd1wb09 20 6 for for IN cord-032285-gkd1wb09 20 7 provincial provincial JJ cord-032285-gkd1wb09 20 8 SME SME NNP cord-032285-gkd1wb09 20 9 investment investment NN cord-032285-gkd1wb09 20 10 can can MD cord-032285-gkd1wb09 20 11 be be VB cord-032285-gkd1wb09 20 12 increased increase VBN cord-032285-gkd1wb09 20 13 , , , cord-032285-gkd1wb09 20 14 it -PRON- PRP cord-032285-gkd1wb09 20 15 can can MD cord-032285-gkd1wb09 20 16 be be VB cord-032285-gkd1wb09 20 17 expected expect VBN cord-032285-gkd1wb09 20 18 both both DT cord-032285-gkd1wb09 20 19 to to TO cord-032285-gkd1wb09 20 20 speed speed VB cord-032285-gkd1wb09 20 21 the the DT cord-032285-gkd1wb09 20 22 offset offset NN cord-032285-gkd1wb09 20 23 of of IN cord-032285-gkd1wb09 20 24 job job NN cord-032285-gkd1wb09 20 25 losses loss NNS cord-032285-gkd1wb09 20 26 and and CC cord-032285-gkd1wb09 20 27 help help VB cord-032285-gkd1wb09 20 28 the the DT cord-032285-gkd1wb09 20 29 longer long JJR cord-032285-gkd1wb09 20 30 - - HYPH cord-032285-gkd1wb09 20 31 term term NN cord-032285-gkd1wb09 20 32 process process NN cord-032285-gkd1wb09 20 33 of of IN cord-032285-gkd1wb09 20 34 regional regional JJ cord-032285-gkd1wb09 20 35 rebalancing rebalancing NN cord-032285-gkd1wb09 20 36 of of IN cord-032285-gkd1wb09 20 37 productivity productivity NN cord-032285-gkd1wb09 20 38 . . . cord-032285-gkd1wb09 21 1 The the DT cord-032285-gkd1wb09 21 2 final final JJ cord-032285-gkd1wb09 21 3 proposition proposition NN cord-032285-gkd1wb09 21 4 is be VBZ cord-032285-gkd1wb09 21 5 that that IN cord-032285-gkd1wb09 21 6 neither neither CC cord-032285-gkd1wb09 21 7 the the DT cord-032285-gkd1wb09 21 8 private private JJ cord-032285-gkd1wb09 21 9 sector sector NN cord-032285-gkd1wb09 21 10 nor nor CC cord-032285-gkd1wb09 21 11 government government NN cord-032285-gkd1wb09 21 12 can can MD cord-032285-gkd1wb09 21 13 provide provide VB cord-032285-gkd1wb09 21 14 such such JJ cord-032285-gkd1wb09 21 15 finance finance NN cord-032285-gkd1wb09 21 16 acting act VBG cord-032285-gkd1wb09 21 17 alone alone RB cord-032285-gkd1wb09 21 18 . . . cord-032285-gkd1wb09 22 1 The the DT cord-032285-gkd1wb09 22 2 private private JJ cord-032285-gkd1wb09 22 3 sector sector NN cord-032285-gkd1wb09 22 4 has have VBZ cord-032285-gkd1wb09 22 5 not not RB cord-032285-gkd1wb09 22 6 done do VBN cord-032285-gkd1wb09 22 7 it -PRON- PRP cord-032285-gkd1wb09 22 8 even even RB cord-032285-gkd1wb09 22 9 pre pre JJ cord-032285-gkd1wb09 22 10 - - JJ cord-032285-gkd1wb09 22 11 COVID covid JJ cord-032285-gkd1wb09 22 12 , , , cord-032285-gkd1wb09 22 13 presumably presumably RB cord-032285-gkd1wb09 22 14 due due IN cord-032285-gkd1wb09 22 15 to to IN cord-032285-gkd1wb09 22 16 high high JJ cord-032285-gkd1wb09 22 17 set set NN cord-032285-gkd1wb09 22 18 - - HYPH cord-032285-gkd1wb09 22 19 up up RP cord-032285-gkd1wb09 22 20 costs cost NNS cord-032285-gkd1wb09 22 21 of of IN cord-032285-gkd1wb09 22 22 the the DT cord-032285-gkd1wb09 22 23 necessary necessary JJ cord-032285-gkd1wb09 22 24 intermediary intermediary JJ cord-032285-gkd1wb09 22 25 institutions institution NNS cord-032285-gkd1wb09 22 26 and and CC cord-032285-gkd1wb09 22 27 limited limited JJ cord-032285-gkd1wb09 22 28 initial initial JJ cord-032285-gkd1wb09 22 29 opportunities opportunity NNS cord-032285-gkd1wb09 22 30 in in IN cord-032285-gkd1wb09 22 31 poorer poor JJR cord-032285-gkd1wb09 22 32 regions region NNS cord-032285-gkd1wb09 22 33 . . . cord-032285-gkd1wb09 23 1 Regional regional JJ cord-032285-gkd1wb09 23 2 prospects prospect NNS cord-032285-gkd1wb09 23 3 can can MD cord-032285-gkd1wb09 23 4 only only RB cord-032285-gkd1wb09 23 5 be be VB cord-032285-gkd1wb09 23 6 transformed transform VBN cord-032285-gkd1wb09 23 7 by by IN cord-032285-gkd1wb09 23 8 a a DT cord-032285-gkd1wb09 23 9 sustained sustained JJ cord-032285-gkd1wb09 23 10 range range NN cord-032285-gkd1wb09 23 11 of of IN cord-032285-gkd1wb09 23 12 public public JJ cord-032285-gkd1wb09 23 13 actions action NNS cord-032285-gkd1wb09 23 14 such such JJ cord-032285-gkd1wb09 23 15 as as IN cord-032285-gkd1wb09 23 16 provision provision NN cord-032285-gkd1wb09 23 17 of of IN cord-032285-gkd1wb09 23 18 infrastructure infrastructure NN cord-032285-gkd1wb09 23 19 and and CC cord-032285-gkd1wb09 23 20 training training NN cord-032285-gkd1wb09 23 21 which which WDT cord-032285-gkd1wb09 23 22 lie lie VBP cord-032285-gkd1wb09 23 23 beyond beyond IN cord-032285-gkd1wb09 23 24 the the DT cord-032285-gkd1wb09 23 25 scope scope NN cord-032285-gkd1wb09 23 26 of of IN cord-032285-gkd1wb09 23 27 this this DT cord-032285-gkd1wb09 23 28 paper paper NN cord-032285-gkd1wb09 23 29 . . . cord-032285-gkd1wb09 24 1 But but CC cord-032285-gkd1wb09 24 2 a a DT cord-032285-gkd1wb09 24 3 valuable valuable JJ cord-032285-gkd1wb09 24 4 additional additional JJ cord-032285-gkd1wb09 24 5 component component NN cord-032285-gkd1wb09 24 6 would would MD cord-032285-gkd1wb09 24 7 be be VB cord-032285-gkd1wb09 24 8 to to TO cord-032285-gkd1wb09 24 9 establish establish VB cord-032285-gkd1wb09 24 10 locally locally RB cord-032285-gkd1wb09 24 11 based base VBN cord-032285-gkd1wb09 24 12 risk risk NN cord-032285-gkd1wb09 24 13 - - HYPH cord-032285-gkd1wb09 24 14 capital capital NN cord-032285-gkd1wb09 24 15 for for IN cord-032285-gkd1wb09 24 16 SMEs sme NNS cord-032285-gkd1wb09 24 17 around around IN cord-032285-gkd1wb09 24 18 the the DT cord-032285-gkd1wb09 24 19 country country NN cord-032285-gkd1wb09 24 20 , , , cord-032285-gkd1wb09 24 21 and and CC cord-032285-gkd1wb09 24 22 this this DT cord-032285-gkd1wb09 24 23 is be VBZ cord-032285-gkd1wb09 24 24 what what WP cord-032285-gkd1wb09 24 25 the the DT cord-032285-gkd1wb09 24 26 present present JJ cord-032285-gkd1wb09 24 27 proposal proposal NN cord-032285-gkd1wb09 24 28 aims aim VBZ cord-032285-gkd1wb09 24 29 to to TO cord-032285-gkd1wb09 24 30 achieve achieve VB cord-032285-gkd1wb09 24 31 . . . cord-032285-gkd1wb09 25 1 We -PRON- PRP cord-032285-gkd1wb09 25 2 begin begin VBP cord-032285-gkd1wb09 25 3 by by IN cord-032285-gkd1wb09 25 4 describing describe VBG cord-032285-gkd1wb09 25 5 the the DT cord-032285-gkd1wb09 25 6 investment investment NN cord-032285-gkd1wb09 25 7 - - HYPH cord-032285-gkd1wb09 25 8 SME sme NN cord-032285-gkd1wb09 25 9 problem problem NN cord-032285-gkd1wb09 25 10 in in IN cord-032285-gkd1wb09 25 11 section section NN cord-032285-gkd1wb09 25 12 II II NNP cord-032285-gkd1wb09 25 13 . . . cord-032285-gkd1wb09 26 1 We -PRON- PRP cord-032285-gkd1wb09 26 2 then then RB cord-032285-gkd1wb09 26 3 set set VBD cord-032285-gkd1wb09 26 4 out out RP cord-032285-gkd1wb09 26 5 the the DT cord-032285-gkd1wb09 26 6 regional regional JJ cord-032285-gkd1wb09 26 7 - - HYPH cord-032285-gkd1wb09 26 8 social social JJ cord-032285-gkd1wb09 26 9 problem problem NN cord-032285-gkd1wb09 26 10 in in IN cord-032285-gkd1wb09 26 11 section section NN cord-032285-gkd1wb09 26 12 III iii CD cord-032285-gkd1wb09 26 13 . . . cord-032285-gkd1wb09 27 1 In in IN cord-032285-gkd1wb09 27 2 section section NN cord-032285-gkd1wb09 27 3 IV IV NNP cord-032285-gkd1wb09 27 4 , , , cord-032285-gkd1wb09 27 5 we -PRON- PRP cord-032285-gkd1wb09 27 6 turn turn VBP cord-032285-gkd1wb09 27 7 to to IN cord-032285-gkd1wb09 27 8 a a DT cord-032285-gkd1wb09 27 9 solution solution NN cord-032285-gkd1wb09 27 10 : : : cord-032285-gkd1wb09 27 11 combining combine VBG cord-032285-gkd1wb09 27 12 the the DT cord-032285-gkd1wb09 27 13 exceptional exceptional JJ cord-032285-gkd1wb09 27 14 capacity capacity NN cord-032285-gkd1wb09 27 15 of of IN cord-032285-gkd1wb09 27 16 national national JJ cord-032285-gkd1wb09 27 17 government government NN cord-032285-gkd1wb09 27 18 to to TO cord-032285-gkd1wb09 27 19 raise raise VB cord-032285-gkd1wb09 27 20 finance finance NN cord-032285-gkd1wb09 27 21 , , , cord-032285-gkd1wb09 27 22 with with IN cord-032285-gkd1wb09 27 23 incentivecompatible incentivecompatible JJ cord-032285-gkd1wb09 27 24 devolved devolve VBN cord-032285-gkd1wb09 27 25 decision decision NN cord-032285-gkd1wb09 27 26 - - HYPH cord-032285-gkd1wb09 27 27 taking taking NN cord-032285-gkd1wb09 27 28 to to IN cord-032285-gkd1wb09 27 29 venture venture NN cord-032285-gkd1wb09 27 30 capital capital NN cord-032285-gkd1wb09 27 31 with with IN cord-032285-gkd1wb09 27 32 the the DT cord-032285-gkd1wb09 27 33 capacity capacity NN cord-032285-gkd1wb09 27 34 to to TO cord-032285-gkd1wb09 27 35 deploy deploy VB cord-032285-gkd1wb09 27 36 it -PRON- PRP cord-032285-gkd1wb09 27 37 to to IN cord-032285-gkd1wb09 27 38 the the DT cord-032285-gkd1wb09 27 39 minority minority NN cord-032285-gkd1wb09 27 40 of of IN cord-032285-gkd1wb09 27 41 SMEs sme NNS cord-032285-gkd1wb09 27 42 with with IN cord-032285-gkd1wb09 27 43 genuine genuine JJ cord-032285-gkd1wb09 27 44 opportunities opportunity NNS cord-032285-gkd1wb09 27 45 for for IN cord-032285-gkd1wb09 27 46 scale scale NN cord-032285-gkd1wb09 27 47 - - HYPH cord-032285-gkd1wb09 27 48 up up NN cord-032285-gkd1wb09 27 49 . . . cord-032285-gkd1wb09 28 1 Section section NN cord-032285-gkd1wb09 28 2 V V NNP cord-032285-gkd1wb09 28 3 concludes conclude VBZ cord-032285-gkd1wb09 28 4 the the DT cord-032285-gkd1wb09 28 5 article article NN cord-032285-gkd1wb09 28 6 . . . cord-032285-gkd1wb09 29 1 COVID COVID NNP cord-032285-gkd1wb09 29 2 is be VBZ cord-032285-gkd1wb09 29 3 both both DT cord-032285-gkd1wb09 29 4 reducing reduce VBG cord-032285-gkd1wb09 29 5 aggregate aggregate JJ cord-032285-gkd1wb09 29 6 demand demand NN cord-032285-gkd1wb09 29 7 and and CC cord-032285-gkd1wb09 29 8 is be VBZ cord-032285-gkd1wb09 29 9 widely widely RB cord-032285-gkd1wb09 29 10 expected expect VBN cord-032285-gkd1wb09 29 11 to to TO cord-032285-gkd1wb09 29 12 change change VB cord-032285-gkd1wb09 29 13 its -PRON- PRP$ cord-032285-gkd1wb09 29 14 pattern pattern NN cord-032285-gkd1wb09 29 15 . . . cord-032285-gkd1wb09 30 1 Spanish spanish JJ cord-032285-gkd1wb09 30 2 evidence evidence NN cord-032285-gkd1wb09 30 3 , , , cord-032285-gkd1wb09 30 4 based base VBN cord-032285-gkd1wb09 30 5 on on IN cord-032285-gkd1wb09 30 6 changes change NNS cord-032285-gkd1wb09 30 7 in in IN cord-032285-gkd1wb09 30 8 consumer consumer NN cord-032285-gkd1wb09 30 9 spending spending NN cord-032285-gkd1wb09 30 10 from from IN cord-032285-gkd1wb09 30 11 credit credit NN cord-032285-gkd1wb09 30 12 card card NN cord-032285-gkd1wb09 30 13 data datum NNS cord-032285-gkd1wb09 30 14 , , , cord-032285-gkd1wb09 30 15 finds find VBZ cord-032285-gkd1wb09 30 16 that that IN cord-032285-gkd1wb09 30 17 during during IN cord-032285-gkd1wb09 30 18 the the DT cord-032285-gkd1wb09 30 19 first first JJ cord-032285-gkd1wb09 30 20 weeks week NNS cord-032285-gkd1wb09 30 21 of of IN cord-032285-gkd1wb09 30 22 the the DT cord-032285-gkd1wb09 30 23 lockdown lockdown NN cord-032285-gkd1wb09 30 24 , , , cord-032285-gkd1wb09 30 25 overall overall JJ cord-032285-gkd1wb09 30 26 spending spending NN cord-032285-gkd1wb09 30 27 fell fall VBD cord-032285-gkd1wb09 30 28 by by IN cord-032285-gkd1wb09 30 29 49 49 CD cord-032285-gkd1wb09 30 30 per per IN cord-032285-gkd1wb09 30 31 cent cent NN cord-032285-gkd1wb09 30 32 , , , cord-032285-gkd1wb09 30 33 but but CC cord-032285-gkd1wb09 30 34 within within IN cord-032285-gkd1wb09 30 35 this this DT cord-032285-gkd1wb09 30 36 were be VBD cord-032285-gkd1wb09 30 37 large large JJ cord-032285-gkd1wb09 30 38 variations variation NNS cord-032285-gkd1wb09 30 39 : : : cord-032285-gkd1wb09 30 40 the the DT cord-032285-gkd1wb09 30 41 average average NN cord-032285-gkd1wb09 30 42 for for IN cord-032285-gkd1wb09 30 43 the the DT cord-032285-gkd1wb09 30 44 ten ten CD cord-032285-gkd1wb09 30 45 best well RBS cord-032285-gkd1wb09 30 46 - - HYPH cord-032285-gkd1wb09 30 47 performing perform VBG cord-032285-gkd1wb09 30 48 categories category NNS cord-032285-gkd1wb09 30 49 was be VBD cord-032285-gkd1wb09 30 50 an an DT cord-032285-gkd1wb09 30 51 increase increase NN cord-032285-gkd1wb09 30 52 of of IN cord-032285-gkd1wb09 30 53 150 150 CD cord-032285-gkd1wb09 30 54 per per IN cord-032285-gkd1wb09 30 55 cent cent NN cord-032285-gkd1wb09 30 56 ( ( -LRB- cord-032285-gkd1wb09 31 1 Carvalho Carvalho NNP cord-032285-gkd1wb09 31 2 et et NNP cord-032285-gkd1wb09 31 3 al al NNP cord-032285-gkd1wb09 31 4 . . NNP cord-032285-gkd1wb09 31 5 , , , cord-032285-gkd1wb09 31 6 2020 2020 CD cord-032285-gkd1wb09 31 7 ) ) -RRB- cord-032285-gkd1wb09 31 8 . . . cord-032285-gkd1wb09 32 1 Currently currently RB cord-032285-gkd1wb09 32 2 , , , cord-032285-gkd1wb09 32 3 this this DT cord-032285-gkd1wb09 32 4 presents present VBZ cord-032285-gkd1wb09 32 5 firms firm NNS cord-032285-gkd1wb09 32 6 with with IN cord-032285-gkd1wb09 32 7 two two CD cord-032285-gkd1wb09 32 8 investment investment NN cord-032285-gkd1wb09 32 9 uncertainties uncertainty NNS cord-032285-gkd1wb09 32 10 : : : cord-032285-gkd1wb09 32 11 whether whether IN cord-032285-gkd1wb09 32 12 to to TO cord-032285-gkd1wb09 32 13 incur incur VB cord-032285-gkd1wb09 32 14 the the DT cord-032285-gkd1wb09 32 15 costs cost NNS cord-032285-gkd1wb09 32 16 of of IN cord-032285-gkd1wb09 32 17 maintaining maintain VBG cord-032285-gkd1wb09 32 18 their -PRON- PRP$ cord-032285-gkd1wb09 32 19 enterprises enterprise NNS cord-032285-gkd1wb09 32 20 and and CC cord-032285-gkd1wb09 32 21 retaining retain VBG cord-032285-gkd1wb09 32 22 staff staff NN cord-032285-gkd1wb09 32 23 so so IN cord-032285-gkd1wb09 32 24 that that IN cord-032285-gkd1wb09 32 25 they -PRON- PRP cord-032285-gkd1wb09 32 26 are be VBP cord-032285-gkd1wb09 32 27 ready ready JJ cord-032285-gkd1wb09 32 28 to to TO cord-032285-gkd1wb09 32 29 ramp ramp VB cord-032285-gkd1wb09 32 30 production production NN cord-032285-gkd1wb09 32 31 back back RB cord-032285-gkd1wb09 32 32 up up RB cord-032285-gkd1wb09 32 33 if if IN cord-032285-gkd1wb09 32 34 and and CC cord-032285-gkd1wb09 32 35 when when WRB cord-032285-gkd1wb09 32 36 demand demand NN cord-032285-gkd1wb09 32 37 revives revive VBZ cord-032285-gkd1wb09 32 38 , , , cord-032285-gkd1wb09 32 39 and and CC cord-032285-gkd1wb09 32 40 whether whether IN cord-032285-gkd1wb09 32 41 to to TO cord-032285-gkd1wb09 32 42 incur incur VB cord-032285-gkd1wb09 32 43 the the DT cord-032285-gkd1wb09 32 44 costs cost NNS cord-032285-gkd1wb09 32 45 of of IN cord-032285-gkd1wb09 32 46 meeting meeting NN cord-032285-gkd1wb09 32 47 expanded expand VBN cord-032285-gkd1wb09 32 48 demand demand NN cord-032285-gkd1wb09 32 49 which which WDT cord-032285-gkd1wb09 32 50 may may MD cord-032285-gkd1wb09 32 51 prove prove VB cord-032285-gkd1wb09 32 52 to to TO cord-032285-gkd1wb09 32 53 be be VB cord-032285-gkd1wb09 32 54 temporary temporary JJ cord-032285-gkd1wb09 32 55 . . . cord-032285-gkd1wb09 33 1 During during IN cord-032285-gkd1wb09 33 2 the the DT cord-032285-gkd1wb09 33 3 recovery recovery NN cord-032285-gkd1wb09 33 4 phase phase NN cord-032285-gkd1wb09 33 5 some some DT cord-032285-gkd1wb09 33 6 of of IN cord-032285-gkd1wb09 33 7 these these DT cord-032285-gkd1wb09 33 8 uncertainties uncertainty NNS cord-032285-gkd1wb09 33 9 will will MD cord-032285-gkd1wb09 33 10 be be VB cord-032285-gkd1wb09 33 11 resolved resolve VBN cord-032285-gkd1wb09 33 12 : : : cord-032285-gkd1wb09 33 13 many many JJ cord-032285-gkd1wb09 33 14 firms firm NNS cord-032285-gkd1wb09 33 15 will will MD cord-032285-gkd1wb09 33 16 decide decide VB cord-032285-gkd1wb09 33 17 that that IN cord-032285-gkd1wb09 33 18 their -PRON- PRP$ cord-032285-gkd1wb09 33 19 markets market NNS cord-032285-gkd1wb09 33 20 have have VBP cord-032285-gkd1wb09 33 21 permanently permanently RB cord-032285-gkd1wb09 33 22 declined decline VBN cord-032285-gkd1wb09 33 23 and and CC cord-032285-gkd1wb09 33 24 so so RB cord-032285-gkd1wb09 33 25 shed shed VB cord-032285-gkd1wb09 33 26 workers worker NNS cord-032285-gkd1wb09 33 27 . . . cord-032285-gkd1wb09 34 1 At at IN cord-032285-gkd1wb09 34 2 that that DT cord-032285-gkd1wb09 34 3 point point NN cord-032285-gkd1wb09 34 4 , , , cord-032285-gkd1wb09 34 5 continuing continue VBG cord-032285-gkd1wb09 34 6 wage wage NN cord-032285-gkd1wb09 34 7 subsidies subsidy NNS cord-032285-gkd1wb09 34 8 to to TO cord-032285-gkd1wb09 34 9 discourage discourage VB cord-032285-gkd1wb09 34 10 labour labour NN cord-032285-gkd1wb09 34 11 - - HYPH cord-032285-gkd1wb09 34 12 shedding shedding NN cord-032285-gkd1wb09 34 13 become become VBP cord-032285-gkd1wb09 34 14 ineffective ineffective JJ cord-032285-gkd1wb09 34 15 and and CC cord-032285-gkd1wb09 34 16 impede impede VB cord-032285-gkd1wb09 34 17 necessary necessary JJ cord-032285-gkd1wb09 34 18 resource resource NN cord-032285-gkd1wb09 34 19 reallocation reallocation NN cord-032285-gkd1wb09 34 20 . . . cord-032285-gkd1wb09 35 1 However however RB cord-032285-gkd1wb09 35 2 , , , cord-032285-gkd1wb09 35 3 for for IN cord-032285-gkd1wb09 35 4 these these DT cord-032285-gkd1wb09 35 5 job job NN cord-032285-gkd1wb09 35 6 losses loss NNS cord-032285-gkd1wb09 35 7 not not RB cord-032285-gkd1wb09 35 8 to to TO cord-032285-gkd1wb09 35 9 cause cause VB cord-032285-gkd1wb09 35 10 aggregate aggregate JJ cord-032285-gkd1wb09 35 11 long long JJ cord-032285-gkd1wb09 35 12 - - HYPH cord-032285-gkd1wb09 35 13 term term NN cord-032285-gkd1wb09 35 14 unemployment unemployment NN cord-032285-gkd1wb09 35 15 , , , cord-032285-gkd1wb09 35 16 they -PRON- PRP cord-032285-gkd1wb09 35 17 will will MD cord-032285-gkd1wb09 35 18 need need VB cord-032285-gkd1wb09 35 19 to to TO cord-032285-gkd1wb09 35 20 be be VB cord-032285-gkd1wb09 35 21 offset offset VBN cord-032285-gkd1wb09 35 22 by by IN cord-032285-gkd1wb09 35 23 new new JJ cord-032285-gkd1wb09 35 24 opportunities opportunity NNS cord-032285-gkd1wb09 35 25 being be VBG cord-032285-gkd1wb09 35 26 identified identify VBN cord-032285-gkd1wb09 35 27 and and CC cord-032285-gkd1wb09 35 28 taken take VBN cord-032285-gkd1wb09 35 29 to to TO cord-032285-gkd1wb09 35 30 scale scale VB cord-032285-gkd1wb09 35 31 through through IN cord-032285-gkd1wb09 35 32 investment investment NN cord-032285-gkd1wb09 35 33 . . . cord-032285-gkd1wb09 36 1 While while IN cord-032285-gkd1wb09 36 2 COVID COVID NNP cord-032285-gkd1wb09 36 3 disruption disruption NN cord-032285-gkd1wb09 36 4 has have VBZ cord-032285-gkd1wb09 36 5 reduced reduce VBN cord-032285-gkd1wb09 36 6 the the DT cord-032285-gkd1wb09 36 7 return return NN cord-032285-gkd1wb09 36 8 on on IN cord-032285-gkd1wb09 36 9 the the DT cord-032285-gkd1wb09 36 10 stock stock NN cord-032285-gkd1wb09 36 11 of of IN cord-032285-gkd1wb09 36 12 capital capital NN cord-032285-gkd1wb09 36 13 , , , cord-032285-gkd1wb09 36 14 the the DT cord-032285-gkd1wb09 36 15 shift shift NN cord-032285-gkd1wb09 36 16 in in IN cord-032285-gkd1wb09 36 17 opportunities opportunity NNS cord-032285-gkd1wb09 36 18 will will MD cord-032285-gkd1wb09 36 19 have have VB cord-032285-gkd1wb09 36 20 raised raise VBN cord-032285-gkd1wb09 36 21 the the DT cord-032285-gkd1wb09 36 22 return return NN cord-032285-gkd1wb09 36 23 on on IN cord-032285-gkd1wb09 36 24 such such JJ cord-032285-gkd1wb09 36 25 scale scale NN cord-032285-gkd1wb09 36 26 - - HYPH cord-032285-gkd1wb09 36 27 up up RP cord-032285-gkd1wb09 36 28 investment investment NN cord-032285-gkd1wb09 36 29 . . . cord-032285-gkd1wb09 37 1 Whether whether IN cord-032285-gkd1wb09 37 2 , , , cord-032285-gkd1wb09 37 3 once once IN cord-032285-gkd1wb09 37 4 aggregate aggregate JJ cord-032285-gkd1wb09 37 5 demand demand NN cord-032285-gkd1wb09 37 6 has have VBZ cord-032285-gkd1wb09 37 7 been be VBN cord-032285-gkd1wb09 37 8 restored restore VBN cord-032285-gkd1wb09 37 9 , , , cord-032285-gkd1wb09 37 10 these these DT cord-032285-gkd1wb09 37 11 new new JJ cord-032285-gkd1wb09 37 12 opportunities opportunity NNS cord-032285-gkd1wb09 37 13 are be VBP cord-032285-gkd1wb09 37 14 capable capable JJ cord-032285-gkd1wb09 37 15 of of IN cord-032285-gkd1wb09 37 16 re re VBG cord-032285-gkd1wb09 37 17 - - JJ cord-032285-gkd1wb09 37 18 employing employ VBG cord-032285-gkd1wb09 37 19 the the DT cord-032285-gkd1wb09 37 20 workforce workforce NN cord-032285-gkd1wb09 37 21 productively productively RB cord-032285-gkd1wb09 37 22 , , , cord-032285-gkd1wb09 37 23 can can MD cord-032285-gkd1wb09 37 24 not not RB cord-032285-gkd1wb09 37 25 yet yet RB cord-032285-gkd1wb09 37 26 be be VB cord-032285-gkd1wb09 37 27 known know VBN cord-032285-gkd1wb09 37 28 . . . cord-032285-gkd1wb09 38 1 Our -PRON- PRP$ cord-032285-gkd1wb09 38 2 proposition proposition NN cord-032285-gkd1wb09 38 3 is be VBZ cord-032285-gkd1wb09 38 4 that that IN cord-032285-gkd1wb09 38 5 addressing address VBG cord-032285-gkd1wb09 38 6 the the DT cord-032285-gkd1wb09 38 7 current current JJ cord-032285-gkd1wb09 38 8 lack lack NN cord-032285-gkd1wb09 38 9 of of IN cord-032285-gkd1wb09 38 10 finance finance NN cord-032285-gkd1wb09 38 11 for for IN cord-032285-gkd1wb09 38 12 investment investment NN cord-032285-gkd1wb09 38 13 by by IN cord-032285-gkd1wb09 38 14 provincial provincial JJ cord-032285-gkd1wb09 38 15 SMEs sme NNS cord-032285-gkd1wb09 38 16 is be VBZ cord-032285-gkd1wb09 38 17 an an DT cord-032285-gkd1wb09 38 18 instance instance NN cord-032285-gkd1wb09 38 19 of of IN cord-032285-gkd1wb09 38 20 ' ' `` cord-032285-gkd1wb09 38 21 no no DT cord-032285-gkd1wb09 38 22 regret regret NN cord-032285-gkd1wb09 38 23 ' ' '' cord-032285-gkd1wb09 38 24 actions action NNS cord-032285-gkd1wb09 38 25 that that WDT cord-032285-gkd1wb09 38 26 - - : cord-032285-gkd1wb09 38 27 even even RB cord-032285-gkd1wb09 38 28 under under IN cord-032285-gkd1wb09 38 29 conditions condition NNS cord-032285-gkd1wb09 38 30 of of IN cord-032285-gkd1wb09 38 31 radical radical JJ cord-032285-gkd1wb09 38 32 uncertainty uncertainty NN cord-032285-gkd1wb09 38 33 - - : cord-032285-gkd1wb09 38 34 are be VBP cord-032285-gkd1wb09 38 35 worth worth JJ cord-032285-gkd1wb09 38 36 doing do VBG cord-032285-gkd1wb09 38 37 regardless regardless RB cord-032285-gkd1wb09 38 38 of of IN cord-032285-gkd1wb09 38 39 subsequent subsequent JJ cord-032285-gkd1wb09 38 40 knowledge knowledge NN cord-032285-gkd1wb09 38 41 . . . cord-032285-gkd1wb09 39 1 It -PRON- PRP cord-032285-gkd1wb09 39 2 is be VBZ cord-032285-gkd1wb09 39 3 a a DT cord-032285-gkd1wb09 39 4 necessary necessary JJ cord-032285-gkd1wb09 39 5 , , , cord-032285-gkd1wb09 39 6 though though IN cord-032285-gkd1wb09 39 7 by by IN cord-032285-gkd1wb09 39 8 no no DT cord-032285-gkd1wb09 39 9 means means NN cord-032285-gkd1wb09 39 10 sufficient sufficient JJ cord-032285-gkd1wb09 39 11 condition condition NN cord-032285-gkd1wb09 39 12 for for IN cord-032285-gkd1wb09 39 13 restoring restore VBG cord-032285-gkd1wb09 39 14 employment employment NN cord-032285-gkd1wb09 39 15 , , , cord-032285-gkd1wb09 39 16 a a DT cord-032285-gkd1wb09 39 17 point point NN cord-032285-gkd1wb09 39 18 to to TO cord-032285-gkd1wb09 39 19 which which WDT cord-032285-gkd1wb09 39 20 we -PRON- PRP cord-032285-gkd1wb09 39 21 return return VBP cord-032285-gkd1wb09 39 22 in in IN cord-032285-gkd1wb09 39 23 section section NN cord-032285-gkd1wb09 39 24 III iii CD cord-032285-gkd1wb09 39 25 . . . cord-032285-gkd1wb09 40 1 Britain Britain NNP cord-032285-gkd1wb09 40 2 's 's POS cord-032285-gkd1wb09 40 3 SMEs sme NNS cord-032285-gkd1wb09 40 4 are be VBP cord-032285-gkd1wb09 40 5 already already RB cord-032285-gkd1wb09 40 6 disadvantaged disadvantage VBN cord-032285-gkd1wb09 40 7 relative relative JJ cord-032285-gkd1wb09 40 8 to to IN cord-032285-gkd1wb09 40 9 larger large JJR cord-032285-gkd1wb09 40 10 companies company NNS cord-032285-gkd1wb09 40 11 in in IN cord-032285-gkd1wb09 40 12 access access NN cord-032285-gkd1wb09 40 13 to to IN cord-032285-gkd1wb09 40 14 investment investment NN cord-032285-gkd1wb09 40 15 finance finance NN cord-032285-gkd1wb09 40 16 . . . cord-032285-gkd1wb09 41 1 This this DT cord-032285-gkd1wb09 41 2 general general JJ cord-032285-gkd1wb09 41 3 proposition proposition NN cord-032285-gkd1wb09 41 4 is be VBZ cord-032285-gkd1wb09 41 5 not not RB cord-032285-gkd1wb09 41 6 controversial controversial JJ cord-032285-gkd1wb09 41 7 : : : cord-032285-gkd1wb09 41 8 ' ' '' cord-032285-gkd1wb09 41 9 it -PRON- PRP cord-032285-gkd1wb09 41 10 is be VBZ cord-032285-gkd1wb09 41 11 widely widely RB cord-032285-gkd1wb09 41 12 accepted accept VBN cord-032285-gkd1wb09 41 13 that that IN cord-032285-gkd1wb09 41 14 the the DT cord-032285-gkd1wb09 41 15 UK UK NNP cord-032285-gkd1wb09 41 16 lacks lack VBZ cord-032285-gkd1wb09 41 17 sources source NNS cord-032285-gkd1wb09 41 18 of of IN cord-032285-gkd1wb09 41 19 finance finance NN cord-032285-gkd1wb09 41 20 for for IN cord-032285-gkd1wb09 41 21 growing grow VBG cord-032285-gkd1wb09 41 22 innovative innovative JJ cord-032285-gkd1wb09 41 23 firms firm NNS cord-032285-gkd1wb09 41 24 looking look VBG cord-032285-gkd1wb09 41 25 to to TO cord-032285-gkd1wb09 41 26 scale scale VB cord-032285-gkd1wb09 41 27 up up RP cord-032285-gkd1wb09 41 28 ' ' '' cord-032285-gkd1wb09 41 29 ( ( -LRB- cord-032285-gkd1wb09 41 30 Mason Mason NNP cord-032285-gkd1wb09 41 31 , , , cord-032285-gkd1wb09 41 32 2020 2020 CD cord-032285-gkd1wb09 41 33 ) ) -RRB- cord-032285-gkd1wb09 41 34 . . . cord-032285-gkd1wb09 42 1 But but CC cord-032285-gkd1wb09 42 2 while while IN cord-032285-gkd1wb09 42 3 COVID COVID NNP cord-032285-gkd1wb09 42 4 has have VBZ cord-032285-gkd1wb09 42 5 created create VBN cord-032285-gkd1wb09 42 6 opportunities opportunity NNS cord-032285-gkd1wb09 42 7 , , , cord-032285-gkd1wb09 42 8 its -PRON- PRP$ cord-032285-gkd1wb09 42 9 consequences consequence NNS cord-032285-gkd1wb09 42 10 have have VBP cord-032285-gkd1wb09 42 11 also also RB cord-032285-gkd1wb09 42 12 increased increase VBN cord-032285-gkd1wb09 42 13 the the DT cord-032285-gkd1wb09 42 14 uncertainty uncertainty NN cord-032285-gkd1wb09 42 15 facing face VBG cord-032285-gkd1wb09 42 16 investment investment NN cord-032285-gkd1wb09 42 17 decisions decision NNS cord-032285-gkd1wb09 42 18 . . . cord-032285-gkd1wb09 43 1 Our -PRON- PRP$ cord-032285-gkd1wb09 43 2 proposition proposition NN cord-032285-gkd1wb09 43 3 is be VBZ cord-032285-gkd1wb09 43 4 that that IN cord-032285-gkd1wb09 43 5 this this DT cord-032285-gkd1wb09 43 6 uncertainty uncertainty NN cord-032285-gkd1wb09 43 7 differentially differentially RB cord-032285-gkd1wb09 43 8 disadvantages disadvantage VBZ cord-032285-gkd1wb09 43 9 finance finance VBP cord-032285-gkd1wb09 43 10 for for IN cord-032285-gkd1wb09 43 11 SMEs sme NNS cord-032285-gkd1wb09 43 12 . . . cord-032285-gkd1wb09 44 1 We -PRON- PRP cord-032285-gkd1wb09 44 2 know know VBP cord-032285-gkd1wb09 44 3 from from IN cord-032285-gkd1wb09 44 4 a a DT cord-032285-gkd1wb09 44 5 new new JJ cord-032285-gkd1wb09 44 6 global global JJ cord-032285-gkd1wb09 44 7 analysis analysis NN cord-032285-gkd1wb09 44 8 of of IN cord-032285-gkd1wb09 44 9 large large JJ cord-032285-gkd1wb09 44 10 firms firm NNS cord-032285-gkd1wb09 44 11 , , , cord-032285-gkd1wb09 44 12 based base VBN cord-032285-gkd1wb09 44 13 on on IN cord-032285-gkd1wb09 44 14 12,000 12,000 CD cord-032285-gkd1wb09 44 15 public public JJ cord-032285-gkd1wb09 44 16 CEO ceo NN cord-032285-gkd1wb09 44 17 briefings briefing NNS cord-032285-gkd1wb09 44 18 to to IN cord-032285-gkd1wb09 44 19 shareholders shareholder NNS cord-032285-gkd1wb09 44 20 , , , cord-032285-gkd1wb09 44 21 that that IN cord-032285-gkd1wb09 44 22 by by IN cord-032285-gkd1wb09 44 23 May May NNP cord-032285-gkd1wb09 44 24 2020 2020 CD cord-032285-gkd1wb09 44 25 ' ' '' cord-032285-gkd1wb09 44 26 uncertainty uncertainty NN cord-032285-gkd1wb09 44 27 ' ' '' cord-032285-gkd1wb09 44 28 was be VBD cord-032285-gkd1wb09 44 29 the the DT cord-032285-gkd1wb09 44 30 word word NN cord-032285-gkd1wb09 44 31 they -PRON- PRP cord-032285-gkd1wb09 44 32 most most RBS cord-032285-gkd1wb09 44 33 commonly commonly RB cord-032285-gkd1wb09 44 34 used use VBN cord-032285-gkd1wb09 44 35 to to TO cord-032285-gkd1wb09 44 36 describe describe VB cord-032285-gkd1wb09 44 37 the the DT cord-032285-gkd1wb09 44 38 problems problem NNS cord-032285-gkd1wb09 44 39 posed pose VBN cord-032285-gkd1wb09 44 40 by by IN cord-032285-gkd1wb09 44 41 COVID COVID NNP cord-032285-gkd1wb09 44 42 ( ( -LRB- cord-032285-gkd1wb09 44 43 Hassan Hassan NNP cord-032285-gkd1wb09 44 44 et et NNP cord-032285-gkd1wb09 44 45 al al NNP cord-032285-gkd1wb09 44 46 . . NNP cord-032285-gkd1wb09 44 47 , , , cord-032285-gkd1wb09 44 48 2020 2020 CD cord-032285-gkd1wb09 44 49 ) ) -RRB- cord-032285-gkd1wb09 44 50 ) ) -RRB- cord-032285-gkd1wb09 44 51 . . . cord-032285-gkd1wb09 45 1 This this DT cord-032285-gkd1wb09 45 2 applies apply VBZ cord-032285-gkd1wb09 45 3 even even RB cord-032285-gkd1wb09 45 4 to to IN cord-032285-gkd1wb09 45 5 the the DT cord-032285-gkd1wb09 45 6 relatively relatively RB cord-032285-gkd1wb09 45 7 straightforward straightforward JJ cord-032285-gkd1wb09 45 8 decision decision NN cord-032285-gkd1wb09 45 9 of of IN cord-032285-gkd1wb09 45 10 whether whether IN cord-032285-gkd1wb09 45 11 to to TO cord-032285-gkd1wb09 45 12 invest invest VB cord-032285-gkd1wb09 45 13 in in IN cord-032285-gkd1wb09 45 14 maintaining maintain VBG cord-032285-gkd1wb09 45 15 productive productive JJ cord-032285-gkd1wb09 45 16 capacity capacity NN cord-032285-gkd1wb09 45 17 for for IN cord-032285-gkd1wb09 45 18 a a DT cord-032285-gkd1wb09 45 19 post post JJ cord-032285-gkd1wb09 45 20 - - JJ cord-032285-gkd1wb09 45 21 COVID covid JJ cord-032285-gkd1wb09 45 22 recovery recovery NN cord-032285-gkd1wb09 45 23 in in IN cord-032285-gkd1wb09 45 24 demand demand NN cord-032285-gkd1wb09 45 25 , , , cord-032285-gkd1wb09 45 26 but but CC cord-032285-gkd1wb09 45 27 more more RBR cord-032285-gkd1wb09 45 28 forcefully forcefully RB cord-032285-gkd1wb09 45 29 to to IN cord-032285-gkd1wb09 45 30 the the DT cord-032285-gkd1wb09 45 31 decision decision NN cord-032285-gkd1wb09 45 32 of of IN cord-032285-gkd1wb09 45 33 whether whether IN cord-032285-gkd1wb09 45 34 to to TO cord-032285-gkd1wb09 45 35 finance finance VB cord-032285-gkd1wb09 45 36 new new JJ cord-032285-gkd1wb09 45 37 ventures venture NNS cord-032285-gkd1wb09 45 38 that that WDT cord-032285-gkd1wb09 45 39 are be VBP cord-032285-gkd1wb09 45 40 hopeful hopeful JJ cord-032285-gkd1wb09 45 41 and and CC cord-032285-gkd1wb09 45 42 innovative innovative JJ cord-032285-gkd1wb09 45 43 . . . cord-032285-gkd1wb09 46 1 Whereas whereas IN cord-032285-gkd1wb09 46 2 aversion aversion NN cord-032285-gkd1wb09 46 3 to to IN cord-032285-gkd1wb09 46 4 uncertainty uncertainty NN cord-032285-gkd1wb09 46 5 ( ( -LRB- cord-032285-gkd1wb09 46 6 sometimes sometimes RB cord-032285-gkd1wb09 46 7 referred refer VBN cord-032285-gkd1wb09 46 8 to to IN cord-032285-gkd1wb09 46 9 as as IN cord-032285-gkd1wb09 46 10 ' ' `` cord-032285-gkd1wb09 46 11 ambiguity ambiguity NN cord-032285-gkd1wb09 46 12 aversion aversion NN cord-032285-gkd1wb09 46 13 ' ' '' cord-032285-gkd1wb09 46 14 ) ) -RRB- cord-032285-gkd1wb09 46 15 is be VBZ cord-032285-gkd1wb09 46 16 known know VBN cord-032285-gkd1wb09 46 17 to to TO cord-032285-gkd1wb09 46 18 be be VB cord-032285-gkd1wb09 46 19 widespread widespread JJ cord-032285-gkd1wb09 46 20 , , , cord-032285-gkd1wb09 46 21 until until IN cord-032285-gkd1wb09 46 22 recently recently RB cord-032285-gkd1wb09 46 23 it -PRON- PRP cord-032285-gkd1wb09 46 24 was be VBD cord-032285-gkd1wb09 46 25 assumed assume VBN cord-032285-gkd1wb09 46 26 to to TO cord-032285-gkd1wb09 46 27 be be VB cord-032285-gkd1wb09 46 28 a a DT cord-032285-gkd1wb09 46 29 ' ' `` cord-032285-gkd1wb09 46 30 bias bias NN cord-032285-gkd1wb09 46 31 ' ' '' cord-032285-gkd1wb09 46 32 which which WDT cord-032285-gkd1wb09 46 33 affected affect VBD cord-032285-gkd1wb09 46 34 only only RB cord-032285-gkd1wb09 46 35 unsophisticated unsophisticated JJ cord-032285-gkd1wb09 46 36 actors actor NNS cord-032285-gkd1wb09 46 37 and and CC cord-032285-gkd1wb09 46 38 would would MD cord-032285-gkd1wb09 46 39 consequently consequently RB cord-032285-gkd1wb09 46 40 not not RB cord-032285-gkd1wb09 46 41 affect affect VB cord-032285-gkd1wb09 46 42 large large JJ cord-032285-gkd1wb09 46 43 firms firm NNS cord-032285-gkd1wb09 46 44 which which WDT cord-032285-gkd1wb09 46 45 have have VBP cord-032285-gkd1wb09 46 46 many many JJ cord-032285-gkd1wb09 46 47 opportunities opportunity NNS cord-032285-gkd1wb09 46 48 to to TO cord-032285-gkd1wb09 46 49 diversify diversify VB cord-032285-gkd1wb09 46 50 risks risk NNS cord-032285-gkd1wb09 46 51 . . . cord-032285-gkd1wb09 47 1 However however RB cord-032285-gkd1wb09 47 2 , , , cord-032285-gkd1wb09 47 3 recent recent JJ cord-032285-gkd1wb09 47 4 work work NN cord-032285-gkd1wb09 47 5 that that WDT cord-032285-gkd1wb09 47 6 has have VBZ cord-032285-gkd1wb09 47 7 tested test VBN cord-032285-gkd1wb09 47 8 this this DT cord-032285-gkd1wb09 47 9 presumption presumption NN cord-032285-gkd1wb09 47 10 has have VBZ cord-032285-gkd1wb09 47 11 found find VBN cord-032285-gkd1wb09 47 12 it -PRON- PRP cord-032285-gkd1wb09 47 13 to to TO cord-032285-gkd1wb09 47 14 be be VB cord-032285-gkd1wb09 47 15 precisely precisely RB cord-032285-gkd1wb09 47 16 wrong wrong JJ cord-032285-gkd1wb09 47 17 : : : cord-032285-gkd1wb09 47 18 sophisticated sophisticated JJ cord-032285-gkd1wb09 47 19 decision decision NN cord-032285-gkd1wb09 47 20 - - HYPH cord-032285-gkd1wb09 47 21 takers taker NNS cord-032285-gkd1wb09 47 22 are be VBP cord-032285-gkd1wb09 47 23 more more JJR cord-032285-gkd1wb09 47 24 uncertainty uncertainty NN cord-032285-gkd1wb09 47 25 - - HYPH cord-032285-gkd1wb09 47 26 averse averse JJ cord-032285-gkd1wb09 47 27 than than IN cord-032285-gkd1wb09 47 28 others other NNS cord-032285-gkd1wb09 47 29 ( ( -LRB- cord-032285-gkd1wb09 47 30 Hong Hong NNP cord-032285-gkd1wb09 47 31 et et NNP cord-032285-gkd1wb09 47 32 al al NNP cord-032285-gkd1wb09 47 33 . . NNP cord-032285-gkd1wb09 47 34 , , , cord-032285-gkd1wb09 47 35 2019 2019 CD cord-032285-gkd1wb09 47 36 ) ) -RRB- cord-032285-gkd1wb09 47 37 . . . cord-032285-gkd1wb09 48 1 We -PRON- PRP cord-032285-gkd1wb09 48 2 do do VBP cord-032285-gkd1wb09 48 3 not not RB cord-032285-gkd1wb09 48 4 yet yet RB cord-032285-gkd1wb09 48 5 know know VB cord-032285-gkd1wb09 48 6 why why WRB cord-032285-gkd1wb09 48 7 this this DT cord-032285-gkd1wb09 48 8 is be VBZ cord-032285-gkd1wb09 48 9 the the DT cord-032285-gkd1wb09 48 10 case case NN cord-032285-gkd1wb09 48 11 , , , cord-032285-gkd1wb09 48 12 but but CC cord-032285-gkd1wb09 48 13 a a DT cord-032285-gkd1wb09 48 14 plausible plausible JJ cord-032285-gkd1wb09 48 15 explanation explanation NN cord-032285-gkd1wb09 48 16 is be VBZ cord-032285-gkd1wb09 48 17 that that IN cord-032285-gkd1wb09 48 18 the the DT cord-032285-gkd1wb09 48 19 formal formal JJ cord-032285-gkd1wb09 48 20 process process NN cord-032285-gkd1wb09 48 21 of of IN cord-032285-gkd1wb09 48 22 board board NN cord-032285-gkd1wb09 48 23 approval approval NN cord-032285-gkd1wb09 48 24 required require VBN cord-032285-gkd1wb09 48 25 in in IN cord-032285-gkd1wb09 48 26 publicly publicly RB cord-032285-gkd1wb09 48 27 quoted quote VBN cord-032285-gkd1wb09 48 28 companies company NNS cord-032285-gkd1wb09 48 29 is be VBZ cord-032285-gkd1wb09 48 30 designed design VBN cord-032285-gkd1wb09 48 31 to to TO cord-032285-gkd1wb09 48 32 produce produce VB cord-032285-gkd1wb09 48 33 challenges challenge NNS cord-032285-gkd1wb09 48 34 to to IN cord-032285-gkd1wb09 48 35 any any DT cord-032285-gkd1wb09 48 36 irreversible irreversible JJ cord-032285-gkd1wb09 48 37 commitment commitment NN cord-032285-gkd1wb09 48 38 of of IN cord-032285-gkd1wb09 48 39 resources resource NNS cord-032285-gkd1wb09 48 40 that that WDT cord-032285-gkd1wb09 48 41 can can MD cord-032285-gkd1wb09 48 42 not not RB cord-032285-gkd1wb09 48 43 be be VB cord-032285-gkd1wb09 48 44 quantitatively quantitatively RB cord-032285-gkd1wb09 48 45 substantiated substantiate VBN cord-032285-gkd1wb09 48 46 . . . cord-032285-gkd1wb09 49 1 Yet yet RB cord-032285-gkd1wb09 49 2 this this DT cord-032285-gkd1wb09 49 3 inability inability NN cord-032285-gkd1wb09 49 4 is be VBZ cord-032285-gkd1wb09 49 5 intrinsic intrinsic JJ cord-032285-gkd1wb09 49 6 to to IN cord-032285-gkd1wb09 49 7 uncertainty uncertainty NN cord-032285-gkd1wb09 49 8 , , , cord-032285-gkd1wb09 49 9 since since IN cord-032285-gkd1wb09 49 10 the the DT cord-032285-gkd1wb09 49 11 frequency frequency NN cord-032285-gkd1wb09 49 12 distribution distribution NN cord-032285-gkd1wb09 49 13 of of IN cord-032285-gkd1wb09 49 14 outcomes outcome NNS cord-032285-gkd1wb09 49 15 can can MD cord-032285-gkd1wb09 49 16 not not RB cord-032285-gkd1wb09 49 17 be be VB cord-032285-gkd1wb09 49 18 known know VBN cord-032285-gkd1wb09 49 19 ( ( -LRB- cord-032285-gkd1wb09 49 20 Manski Manski NNP cord-032285-gkd1wb09 49 21 , , , cord-032285-gkd1wb09 49 22 2013 2013 CD cord-032285-gkd1wb09 49 23 ; ; : cord-032285-gkd1wb09 49 24 Kay Kay NNP cord-032285-gkd1wb09 49 25 and and CC cord-032285-gkd1wb09 49 26 King King NNP cord-032285-gkd1wb09 49 27 , , , cord-032285-gkd1wb09 49 28 2020 2020 CD cord-032285-gkd1wb09 49 29 ) ) -RRB- cord-032285-gkd1wb09 49 30 . . . cord-032285-gkd1wb09 50 1 An an DT cord-032285-gkd1wb09 50 2 implication implication NN cord-032285-gkd1wb09 50 3 is be VBZ cord-032285-gkd1wb09 50 4 that that IN cord-032285-gkd1wb09 50 5 although although IN cord-032285-gkd1wb09 50 6 large large JJ cord-032285-gkd1wb09 50 7 firms firm NNS cord-032285-gkd1wb09 50 8 continue continue VBP cord-032285-gkd1wb09 50 9 to to TO cord-032285-gkd1wb09 50 10 have have VB cord-032285-gkd1wb09 50 11 access access NN cord-032285-gkd1wb09 50 12 to to IN cord-032285-gkd1wb09 50 13 finance finance NN cord-032285-gkd1wb09 50 14 for for IN cord-032285-gkd1wb09 50 15 investment investment NN cord-032285-gkd1wb09 50 16 during during IN cord-032285-gkd1wb09 50 17 COVID COVID NNP cord-032285-gkd1wb09 50 18 uncertainty uncertainty NN cord-032285-gkd1wb09 50 19 , , , cord-032285-gkd1wb09 50 20 they -PRON- PRP cord-032285-gkd1wb09 50 21 may may MD cord-032285-gkd1wb09 50 22 be be VB cord-032285-gkd1wb09 50 23 reluctant reluctant JJ cord-032285-gkd1wb09 50 24 to to TO cord-032285-gkd1wb09 50 25 commit commit VB cord-032285-gkd1wb09 50 26 resources resource NNS cord-032285-gkd1wb09 50 27 to to IN cord-032285-gkd1wb09 50 28 an an DT cord-032285-gkd1wb09 50 29 expansion expansion NN cord-032285-gkd1wb09 50 30 of of IN cord-032285-gkd1wb09 50 31 production production NN cord-032285-gkd1wb09 50 32 . . . cord-032285-gkd1wb09 51 1 Indeed indeed RB cord-032285-gkd1wb09 51 2 , , , cord-032285-gkd1wb09 51 3 since since IN cord-032285-gkd1wb09 51 4 the the DT cord-032285-gkd1wb09 51 5 risks risk NNS cord-032285-gkd1wb09 51 6 of of IN cord-032285-gkd1wb09 51 7 employing employ VBG cord-032285-gkd1wb09 51 8 labour labour NN cord-032285-gkd1wb09 51 9 have have VBP cord-032285-gkd1wb09 51 10 unambiguously unambiguously RB cord-032285-gkd1wb09 51 11 increased increase VBN cord-032285-gkd1wb09 51 12 , , , cord-032285-gkd1wb09 51 13 the the DT cord-032285-gkd1wb09 51 14 investments investment NNS cord-032285-gkd1wb09 51 15 most most RBS cord-032285-gkd1wb09 51 16 readily readily RB cord-032285-gkd1wb09 51 17 sanctioned sanction VBN cord-032285-gkd1wb09 51 18 by by IN cord-032285-gkd1wb09 51 19 the the DT cord-032285-gkd1wb09 51 20 board board NN cord-032285-gkd1wb09 51 21 of of IN cord-032285-gkd1wb09 51 22 a a DT cord-032285-gkd1wb09 51 23 large large JJ cord-032285-gkd1wb09 51 24 firm firm NN cord-032285-gkd1wb09 51 25 will will MD cord-032285-gkd1wb09 51 26 be be VB cord-032285-gkd1wb09 51 27 the the DT cord-032285-gkd1wb09 51 28 risk risk NN cord-032285-gkd1wb09 51 29 - - HYPH cord-032285-gkd1wb09 51 30 reducing reduce VBG cord-032285-gkd1wb09 51 31 substitution substitution NN cord-032285-gkd1wb09 51 32 of of IN cord-032285-gkd1wb09 51 33 capital capital NN cord-032285-gkd1wb09 51 34 for for IN cord-032285-gkd1wb09 51 35 labour labour NN cord-032285-gkd1wb09 51 36 : : : cord-032285-gkd1wb09 52 1 unlike unlike IN cord-032285-gkd1wb09 52 2 employees employee NNS cord-032285-gkd1wb09 52 3 , , , cord-032285-gkd1wb09 52 4 robots robot NNS cord-032285-gkd1wb09 52 5 can can MD cord-032285-gkd1wb09 52 6 neither neither CC cord-032285-gkd1wb09 52 7 catch catch VB cord-032285-gkd1wb09 52 8 a a DT cord-032285-gkd1wb09 52 9 virus virus NN cord-032285-gkd1wb09 52 10 nor nor CC cord-032285-gkd1wb09 52 11 sue sue VB cord-032285-gkd1wb09 52 12 for for IN cord-032285-gkd1wb09 52 13 having have VBG cord-032285-gkd1wb09 52 14 caught catch VBN cord-032285-gkd1wb09 52 15 it -PRON- PRP cord-032285-gkd1wb09 52 16 . . . cord-032285-gkd1wb09 53 1 Such such JJ cord-032285-gkd1wb09 53 2 investment investment NN cord-032285-gkd1wb09 53 3 will will MD cord-032285-gkd1wb09 53 4 , , , cord-032285-gkd1wb09 53 5 however however RB cord-032285-gkd1wb09 53 6 , , , cord-032285-gkd1wb09 53 7 compound compound VB cord-032285-gkd1wb09 53 8 the the DT cord-032285-gkd1wb09 53 9 employment employment NN cord-032285-gkd1wb09 53 10 problem problem NN cord-032285-gkd1wb09 53 11 . . . cord-032285-gkd1wb09 54 1 Three three CD cord-032285-gkd1wb09 54 2 distinctive distinctive JJ cord-032285-gkd1wb09 54 3 features feature NNS cord-032285-gkd1wb09 54 4 of of IN cord-032285-gkd1wb09 54 5 SMEs sme NNS cord-032285-gkd1wb09 54 6 make make VB cord-032285-gkd1wb09 54 7 them -PRON- PRP cord-032285-gkd1wb09 54 8 important important JJ cord-032285-gkd1wb09 54 9 in in IN cord-032285-gkd1wb09 54 10 these these DT cord-032285-gkd1wb09 54 11 circumstances circumstance NNS cord-032285-gkd1wb09 54 12 . . . cord-032285-gkd1wb09 55 1 Being be VBG cord-032285-gkd1wb09 55 2 omnipresent omnipresent JJ cord-032285-gkd1wb09 55 3 across across IN cord-032285-gkd1wb09 55 4 sectors sector NNS cord-032285-gkd1wb09 55 5 and and CC cord-032285-gkd1wb09 55 6 locations location NNS cord-032285-gkd1wb09 55 7 , , , cord-032285-gkd1wb09 55 8 they -PRON- PRP cord-032285-gkd1wb09 55 9 are be VBP cord-032285-gkd1wb09 55 10 better well RBR cord-032285-gkd1wb09 55 11 placed place VBN cord-032285-gkd1wb09 55 12 to to TO cord-032285-gkd1wb09 55 13 discover discover VB cord-032285-gkd1wb09 55 14 new new JJ cord-032285-gkd1wb09 55 15 market market NN cord-032285-gkd1wb09 55 16 opportunities opportunity NNS cord-032285-gkd1wb09 55 17 , , , cord-032285-gkd1wb09 55 18 and and CC cord-032285-gkd1wb09 55 19 they -PRON- PRP cord-032285-gkd1wb09 55 20 may may MD cord-032285-gkd1wb09 55 21 react react VB cord-032285-gkd1wb09 55 22 to to IN cord-032285-gkd1wb09 55 23 them -PRON- PRP cord-032285-gkd1wb09 55 24 more more RBR cord-032285-gkd1wb09 55 25 quickly quickly RB cord-032285-gkd1wb09 55 26 , , , cord-032285-gkd1wb09 55 27 being be VBG cord-032285-gkd1wb09 55 28 less less RBR cord-032285-gkd1wb09 55 29 encumbered encumber VBN cord-032285-gkd1wb09 55 30 by by IN cord-032285-gkd1wb09 55 31 the the DT cord-032285-gkd1wb09 55 32 bureaucratic bureaucratic JJ cord-032285-gkd1wb09 55 33 decision decision NN cord-032285-gkd1wb09 55 34 structures structure NNS cord-032285-gkd1wb09 55 35 inherent inherent JJ cord-032285-gkd1wb09 55 36 to to IN cord-032285-gkd1wb09 55 37 large large JJ cord-032285-gkd1wb09 55 38 firms firm NNS cord-032285-gkd1wb09 55 39 . . . cord-032285-gkd1wb09 56 1 Further further RB cord-032285-gkd1wb09 56 2 , , , cord-032285-gkd1wb09 56 3 facing face VBG cord-032285-gkd1wb09 56 4 a a DT cord-032285-gkd1wb09 56 5 higher high JJR cord-032285-gkd1wb09 56 6 cost cost NN cord-032285-gkd1wb09 56 7 of of IN cord-032285-gkd1wb09 56 8 capital capital NN cord-032285-gkd1wb09 56 9 than than IN cord-032285-gkd1wb09 56 10 large large JJ cord-032285-gkd1wb09 56 11 firms firm NNS cord-032285-gkd1wb09 56 12 , , , cord-032285-gkd1wb09 56 13 expansion expansion NN cord-032285-gkd1wb09 56 14 is be VBZ cord-032285-gkd1wb09 56 15 likely likely JJ cord-032285-gkd1wb09 56 16 to to TO cord-032285-gkd1wb09 56 17 be be VB cord-032285-gkd1wb09 56 18 more more JJR cord-032285-gkd1wb09 56 19 labour labour NN cord-032285-gkd1wb09 56 20 - - HYPH cord-032285-gkd1wb09 56 21 intensive intensive JJ cord-032285-gkd1wb09 56 22 . . . cord-032285-gkd1wb09 57 1 And and CC cord-032285-gkd1wb09 57 2 central central JJ cord-032285-gkd1wb09 57 3 to to IN cord-032285-gkd1wb09 57 4 our -PRON- PRP$ cord-032285-gkd1wb09 57 5 subsequent subsequent JJ cord-032285-gkd1wb09 57 6 discussion discussion NN cord-032285-gkd1wb09 57 7 , , , cord-032285-gkd1wb09 57 8 since since IN cord-032285-gkd1wb09 57 9 SMEs sme NNS cord-032285-gkd1wb09 57 10 are be VBP cord-032285-gkd1wb09 57 11 usually usually RB cord-032285-gkd1wb09 57 12 being be VBG cord-032285-gkd1wb09 57 13 managed manage VBN cord-032285-gkd1wb09 57 14 by by IN cord-032285-gkd1wb09 57 15 founderowner founderowner NN cord-032285-gkd1wb09 57 16 entrepreneurs entrepreneur NNS cord-032285-gkd1wb09 57 17 , , , cord-032285-gkd1wb09 57 18 they -PRON- PRP cord-032285-gkd1wb09 57 19 may may MD cord-032285-gkd1wb09 57 20 be be VB cord-032285-gkd1wb09 57 21 motivated motivate VBN cord-032285-gkd1wb09 57 22 to to TO cord-032285-gkd1wb09 57 23 invest invest VB cord-032285-gkd1wb09 57 24 by by IN cord-032285-gkd1wb09 57 25 ' ' `` cord-032285-gkd1wb09 57 26 animal animal NN cord-032285-gkd1wb09 57 27 spirits spirit NNS cord-032285-gkd1wb09 57 28 ' ' '' cord-032285-gkd1wb09 57 29 rather rather RB cord-032285-gkd1wb09 57 30 than than IN cord-032285-gkd1wb09 57 31 quantitative quantitative JJ cord-032285-gkd1wb09 57 32 calculations calculation NNS cord-032285-gkd1wb09 57 33 . . . cord-032285-gkd1wb09 58 1 Since since IN cord-032285-gkd1wb09 58 2 under under IN cord-032285-gkd1wb09 58 3 uncertainty uncertainty NN cord-032285-gkd1wb09 58 4 the the DT cord-032285-gkd1wb09 58 5 anticipated anticipated JJ cord-032285-gkd1wb09 58 6 returns return NNS cord-032285-gkd1wb09 58 7 on on IN cord-032285-gkd1wb09 58 8 investment investment NN cord-032285-gkd1wb09 58 9 can can MD cord-032285-gkd1wb09 58 10 not not RB cord-032285-gkd1wb09 58 11 be be VB cord-032285-gkd1wb09 58 12 reduced reduce VBN cord-032285-gkd1wb09 58 13 to to IN cord-032285-gkd1wb09 58 14 probabilities probability NNS cord-032285-gkd1wb09 58 15 , , , cord-032285-gkd1wb09 58 16 the the DT cord-032285-gkd1wb09 58 17 lack lack NN cord-032285-gkd1wb09 58 18 of of IN cord-032285-gkd1wb09 58 19 quantitative quantitative JJ cord-032285-gkd1wb09 58 20 evidence evidence NN cord-032285-gkd1wb09 58 21 must must MD cord-032285-gkd1wb09 58 22 be be VB cord-032285-gkd1wb09 58 23 substituted substitute VBN cord-032285-gkd1wb09 58 24 by by IN cord-032285-gkd1wb09 58 25 some some DT cord-032285-gkd1wb09 58 26 other other JJ cord-032285-gkd1wb09 58 27 form form NN cord-032285-gkd1wb09 58 28 of of IN cord-032285-gkd1wb09 58 29 knowledge knowledge NN cord-032285-gkd1wb09 58 30 if if IN cord-032285-gkd1wb09 58 31 resources resource NNS cord-032285-gkd1wb09 58 32 are be VBP cord-032285-gkd1wb09 58 33 to to TO cord-032285-gkd1wb09 58 34 be be VB cord-032285-gkd1wb09 58 35 committed commit VBN cord-032285-gkd1wb09 58 36 . . . cord-032285-gkd1wb09 59 1 The the DT cord-032285-gkd1wb09 59 2 theory theory NN cord-032285-gkd1wb09 59 3 of of IN cord-032285-gkd1wb09 59 4 the the DT cord-032285-gkd1wb09 59 5 epistemological epistemological JJ cord-032285-gkd1wb09 59 6 basis basis NN cord-032285-gkd1wb09 59 7 for for IN cord-032285-gkd1wb09 59 8 action action NN cord-032285-gkd1wb09 59 9 in in IN cord-032285-gkd1wb09 59 10 the the DT cord-032285-gkd1wb09 59 11 face face NN cord-032285-gkd1wb09 59 12 of of IN cord-032285-gkd1wb09 59 13 uncertainty uncertainty NN cord-032285-gkd1wb09 59 14 has have VBZ cord-032285-gkd1wb09 59 15 recently recently RB cord-032285-gkd1wb09 59 16 been be VBN cord-032285-gkd1wb09 59 17 formalized formalize VBN cord-032285-gkd1wb09 59 18 by by IN cord-032285-gkd1wb09 59 19 psychologists psychologist NNS cord-032285-gkd1wb09 59 20 and and CC cord-032285-gkd1wb09 59 21 sets set VBZ cord-032285-gkd1wb09 59 22 out out RP cord-032285-gkd1wb09 59 23 a a DT cord-032285-gkd1wb09 59 24 detailed detailed JJ cord-032285-gkd1wb09 59 25 specification specification NN cord-032285-gkd1wb09 59 26 of of IN cord-032285-gkd1wb09 59 27 a a DT cord-032285-gkd1wb09 59 28 substitute substitute NN cord-032285-gkd1wb09 59 29 termed term VBN cord-032285-gkd1wb09 59 30 a a DT cord-032285-gkd1wb09 59 31 ' ' `` cord-032285-gkd1wb09 59 32 conviction conviction NN cord-032285-gkd1wb09 59 33 narrative narrative NN cord-032285-gkd1wb09 59 34 ' ' '' cord-032285-gkd1wb09 59 35 ( ( -LRB- cord-032285-gkd1wb09 59 36 Tuckett Tuckett NNP cord-032285-gkd1wb09 59 37 and and CC cord-032285-gkd1wb09 59 38 Nikolic Nikolic NNP cord-032285-gkd1wb09 59 39 , , , cord-032285-gkd1wb09 59 40 2017 2017 CD cord-032285-gkd1wb09 59 41 ) ) -RRB- cord-032285-gkd1wb09 59 42 . . . cord-032285-gkd1wb09 60 1 The the DT cord-032285-gkd1wb09 60 2 concept concept NN cord-032285-gkd1wb09 60 3 is be VBZ cord-032285-gkd1wb09 60 4 intricate intricate JJ cord-032285-gkd1wb09 60 5 , , , cord-032285-gkd1wb09 60 6 but but CC cord-032285-gkd1wb09 60 7 for for IN cord-032285-gkd1wb09 60 8 present present JJ cord-032285-gkd1wb09 60 9 purposes purpose NNS cord-032285-gkd1wb09 60 10 , , , cord-032285-gkd1wb09 60 11 the the DT cord-032285-gkd1wb09 60 12 only only JJ cord-032285-gkd1wb09 60 13 aspect aspect NN cord-032285-gkd1wb09 60 14 that that WDT cord-032285-gkd1wb09 60 15 need need VBP cord-032285-gkd1wb09 60 16 concern concern NN cord-032285-gkd1wb09 60 17 us -PRON- PRP cord-032285-gkd1wb09 60 18 is be VBZ cord-032285-gkd1wb09 60 19 that that IN cord-032285-gkd1wb09 60 20 it -PRON- PRP cord-032285-gkd1wb09 60 21 is be VBZ cord-032285-gkd1wb09 60 22 a a DT cord-032285-gkd1wb09 60 23 form form NN cord-032285-gkd1wb09 60 24 of of IN cord-032285-gkd1wb09 60 25 narrative narrative NN cord-032285-gkd1wb09 60 26 and and CC cord-032285-gkd1wb09 60 27 that that IN cord-032285-gkd1wb09 60 28 narratives narrative NNS cord-032285-gkd1wb09 60 29 are be VBP cord-032285-gkd1wb09 60 30 often often RB cord-032285-gkd1wb09 60 31 critical critical JJ cord-032285-gkd1wb09 60 32 in in IN cord-032285-gkd1wb09 60 33 decision decision NN cord-032285-gkd1wb09 60 34 - - HYPH cord-032285-gkd1wb09 60 35 taking taking NN cord-032285-gkd1wb09 60 36 . . . cord-032285-gkd1wb09 61 1 They -PRON- PRP cord-032285-gkd1wb09 61 2 are be VBP cord-032285-gkd1wb09 61 3 critical critical JJ cord-032285-gkd1wb09 61 4 because because IN cord-032285-gkd1wb09 61 5 many many JJ cord-032285-gkd1wb09 61 6 decisions decision NNS cord-032285-gkd1wb09 61 7 taken take VBN cord-032285-gkd1wb09 61 8 by by IN cord-032285-gkd1wb09 61 9 individuals individual NNS cord-032285-gkd1wb09 61 10 are be VBP cord-032285-gkd1wb09 61 11 based base VBN cord-032285-gkd1wb09 61 12 primarily primarily RB cord-032285-gkd1wb09 61 13 on on IN cord-032285-gkd1wb09 61 14 knowledge knowledge NN cord-032285-gkd1wb09 61 15 learnt learn VBN cord-032285-gkd1wb09 61 16 from from IN cord-032285-gkd1wb09 61 17 a a DT cord-032285-gkd1wb09 61 18 networked networked JJ cord-032285-gkd1wb09 61 19 peer peer NN cord-032285-gkd1wb09 61 20 group group NN cord-032285-gkd1wb09 61 21 rather rather RB cord-032285-gkd1wb09 61 22 than than IN cord-032285-gkd1wb09 61 23 on on IN cord-032285-gkd1wb09 61 24 knowledge knowledge NN cord-032285-gkd1wb09 61 25 directly directly RB cord-032285-gkd1wb09 61 26 learnt learn VBN cord-032285-gkd1wb09 61 27 through through IN cord-032285-gkd1wb09 61 28 individual individual JJ cord-032285-gkd1wb09 61 29 observation observation NN cord-032285-gkd1wb09 61 30 . . . cord-032285-gkd1wb09 62 1 Such such JJ cord-032285-gkd1wb09 62 2 knowledge knowledge NN cord-032285-gkd1wb09 62 3 is be VBZ cord-032285-gkd1wb09 62 4 stored store VBN cord-032285-gkd1wb09 62 5 and and CC cord-032285-gkd1wb09 62 6 communicated communicate VBN cord-032285-gkd1wb09 62 7 through through IN cord-032285-gkd1wb09 62 8 narratives narrative NNS cord-032285-gkd1wb09 62 9 that that WDT cord-032285-gkd1wb09 62 10 circulate circulate VBP cord-032285-gkd1wb09 62 11 within within IN cord-032285-gkd1wb09 62 12 the the DT cord-032285-gkd1wb09 62 13 group group NN cord-032285-gkd1wb09 62 14 , , , cord-032285-gkd1wb09 62 15 such such JJ cord-032285-gkd1wb09 62 16 as as IN cord-032285-gkd1wb09 62 17 the the DT cord-032285-gkd1wb09 62 18 entrepreneurs entrepreneur NNS cord-032285-gkd1wb09 62 19 in in IN cord-032285-gkd1wb09 62 20 a a DT cord-032285-gkd1wb09 62 21 city city NN cord-032285-gkd1wb09 62 22 . . . cord-032285-gkd1wb09 63 1 Evolutionary evolutionary JJ cord-032285-gkd1wb09 63 2 biology biology NN cord-032285-gkd1wb09 63 3 has have VBZ cord-032285-gkd1wb09 63 4 shown show VBN cord-032285-gkd1wb09 63 5 that that IN cord-032285-gkd1wb09 63 6 this this DT cord-032285-gkd1wb09 63 7 style style NN cord-032285-gkd1wb09 63 8 of of IN cord-032285-gkd1wb09 63 9 decision decision NN cord-032285-gkd1wb09 63 10 - - HYPH cord-032285-gkd1wb09 63 11 taking taking NN cord-032285-gkd1wb09 63 12 predominates predominate NNS cord-032285-gkd1wb09 63 13 because because IN cord-032285-gkd1wb09 63 14 it -PRON- PRP cord-032285-gkd1wb09 63 15 is be VBZ cord-032285-gkd1wb09 63 16 evolutionarily evolutionarily RB cord-032285-gkd1wb09 63 17 efficient efficient JJ cord-032285-gkd1wb09 63 18 ( ( -LRB- cord-032285-gkd1wb09 63 19 Henrich Henrich NNP cord-032285-gkd1wb09 63 20 , , , cord-032285-gkd1wb09 63 21 2017 2017 CD cord-032285-gkd1wb09 63 22 ) ) -RRB- cord-032285-gkd1wb09 63 23 . . . cord-032285-gkd1wb09 64 1 The the DT cord-032285-gkd1wb09 64 2 formal formal JJ cord-032285-gkd1wb09 64 3 procedures procedure NNS cord-032285-gkd1wb09 64 4 of of IN cord-032285-gkd1wb09 64 5 large large JJ cord-032285-gkd1wb09 64 6 firms firm NNS cord-032285-gkd1wb09 64 7 are be VBP cord-032285-gkd1wb09 64 8 designed design VBN cord-032285-gkd1wb09 64 9 to to TO cord-032285-gkd1wb09 64 10 protect protect VB cord-032285-gkd1wb09 64 11 decisions decision NNS cord-032285-gkd1wb09 64 12 from from IN cord-032285-gkd1wb09 64 13 the the DT cord-032285-gkd1wb09 64 14 influence influence NN cord-032285-gkd1wb09 64 15 of of IN cord-032285-gkd1wb09 64 16 unquantified unquantified JJ cord-032285-gkd1wb09 64 17 narrative narrative NN cord-032285-gkd1wb09 64 18 propositions proposition NNS cord-032285-gkd1wb09 64 19 . . . cord-032285-gkd1wb09 65 1 But but CC cord-032285-gkd1wb09 65 2 SME SME NNP cord-032285-gkd1wb09 65 3 decisions decision NNS cord-032285-gkd1wb09 65 4 are be VBP cord-032285-gkd1wb09 65 5 taken take VBN cord-032285-gkd1wb09 65 6 by by IN cord-032285-gkd1wb09 65 7 individual individual JJ cord-032285-gkd1wb09 65 8 entrepreneurs entrepreneur NNS cord-032285-gkd1wb09 65 9 and and CC cord-032285-gkd1wb09 65 10 so so RB cord-032285-gkd1wb09 65 11 are be VBP cord-032285-gkd1wb09 65 12 more more RBR cord-032285-gkd1wb09 65 13 likely likely JJ cord-032285-gkd1wb09 65 14 to to TO cord-032285-gkd1wb09 65 15 be be VB cord-032285-gkd1wb09 65 16 influenced influence VBN cord-032285-gkd1wb09 65 17 by by IN cord-032285-gkd1wb09 65 18 them -PRON- PRP cord-032285-gkd1wb09 65 19 . . . cord-032285-gkd1wb09 66 1 Narratives narrative NNS cord-032285-gkd1wb09 66 2 provide provide VBP cord-032285-gkd1wb09 66 3 two two CD cord-032285-gkd1wb09 66 4 sources source NNS cord-032285-gkd1wb09 66 5 of of IN cord-032285-gkd1wb09 66 6 reassurance reassurance NN cord-032285-gkd1wb09 66 7 that that WDT cord-032285-gkd1wb09 66 8 can can MD cord-032285-gkd1wb09 66 9 enable enable VB cord-032285-gkd1wb09 66 10 action action NN cord-032285-gkd1wb09 66 11 despite despite IN cord-032285-gkd1wb09 66 12 uncertainty uncertainty NN cord-032285-gkd1wb09 66 13 . . . cord-032285-gkd1wb09 67 1 Even even RB cord-032285-gkd1wb09 67 2 if if IN cord-032285-gkd1wb09 67 3 all all PDT cord-032285-gkd1wb09 67 4 the the DT cord-032285-gkd1wb09 67 5 SME SME NNP cord-032285-gkd1wb09 67 6 entrepreneurs entrepreneur NNS cord-032285-gkd1wb09 67 7 in in IN cord-032285-gkd1wb09 67 8 a a DT cord-032285-gkd1wb09 67 9 networked networked JJ cord-032285-gkd1wb09 67 10 group group NN cord-032285-gkd1wb09 67 11 are be VBP cord-032285-gkd1wb09 67 12 basing base VBG cord-032285-gkd1wb09 67 13 their -PRON- PRP$ cord-032285-gkd1wb09 67 14 view view NN cord-032285-gkd1wb09 67 15 on on IN cord-032285-gkd1wb09 67 16 the the DT cord-032285-gkd1wb09 67 17 same same JJ cord-032285-gkd1wb09 67 18 limited limited JJ cord-032285-gkd1wb09 67 19 information information NN cord-032285-gkd1wb09 67 20 , , , cord-032285-gkd1wb09 67 21 consensus consensus NN cord-032285-gkd1wb09 67 22 among among IN cord-032285-gkd1wb09 67 23 peers peer NNS cord-032285-gkd1wb09 67 24 provides provide VBZ cord-032285-gkd1wb09 67 25 the the DT cord-032285-gkd1wb09 67 26 illusion illusion NN cord-032285-gkd1wb09 67 27 of of IN cord-032285-gkd1wb09 67 28 common common JJ cord-032285-gkd1wb09 67 29 knowledge knowledge NN cord-032285-gkd1wb09 67 30 . . . cord-032285-gkd1wb09 68 1 This this DT cord-032285-gkd1wb09 68 2 is be VBZ cord-032285-gkd1wb09 68 3 well well RB cord-032285-gkd1wb09 68 4 - - HYPH cord-032285-gkd1wb09 68 5 understood understand VBN cord-032285-gkd1wb09 68 6 to to TO cord-032285-gkd1wb09 68 7 provide provide VB cord-032285-gkd1wb09 68 8 some some DT cord-032285-gkd1wb09 68 9 spurious spurious JJ cord-032285-gkd1wb09 68 10 reassurance reassurance NN cord-032285-gkd1wb09 68 11 that that WDT cord-032285-gkd1wb09 68 12 can can MD cord-032285-gkd1wb09 68 13 justify justify VB cord-032285-gkd1wb09 68 14 commitment commitment NN cord-032285-gkd1wb09 68 15 ( ( -LRB- cord-032285-gkd1wb09 68 16 Banerjee Banerjee NNP cord-032285-gkd1wb09 68 17 , , , cord-032285-gkd1wb09 68 18 1992 1992 CD cord-032285-gkd1wb09 68 19 ) ) -RRB- cord-032285-gkd1wb09 68 20 . . . cord-032285-gkd1wb09 69 1 Further further RB cord-032285-gkd1wb09 69 2 , , , cord-032285-gkd1wb09 69 3 knowledge knowledge NN cord-032285-gkd1wb09 69 4 held hold VBN cord-032285-gkd1wb09 69 5 in in IN cord-032285-gkd1wb09 69 6 common common JJ cord-032285-gkd1wb09 69 7 facilitates facilitate VBZ cord-032285-gkd1wb09 69 8 coordination coordination NN cord-032285-gkd1wb09 69 9 within within IN cord-032285-gkd1wb09 69 10 the the DT cord-032285-gkd1wb09 69 11 group group NN cord-032285-gkd1wb09 69 12 ( ( -LRB- cord-032285-gkd1wb09 69 13 Thomas Thomas NNP cord-032285-gkd1wb09 69 14 et et NNP cord-032285-gkd1wb09 69 15 al al NNP cord-032285-gkd1wb09 69 16 . . NNP cord-032285-gkd1wb09 69 17 , , , cord-032285-gkd1wb09 69 18 2014 2014 CD cord-032285-gkd1wb09 69 19 ) ) -RRB- cord-032285-gkd1wb09 69 20 . . . cord-032285-gkd1wb09 70 1 This this DT cord-032285-gkd1wb09 70 2 offers offer VBZ cord-032285-gkd1wb09 70 3 some some DT cord-032285-gkd1wb09 70 4 betterfounded betterfounded JJ cord-032285-gkd1wb09 70 5 confidence confidence NN cord-032285-gkd1wb09 70 6 since since IN cord-032285-gkd1wb09 70 7 many many JJ cord-032285-gkd1wb09 70 8 investment investment NN cord-032285-gkd1wb09 70 9 decisions decision NNS cord-032285-gkd1wb09 70 10 are be VBP cord-032285-gkd1wb09 70 11 interdependent interdependent JJ cord-032285-gkd1wb09 70 12 and and CC cord-032285-gkd1wb09 70 13 so so RB cord-032285-gkd1wb09 70 14 confer confer VB cord-032285-gkd1wb09 70 15 externalities externality NNS cord-032285-gkd1wb09 70 16 on on IN cord-032285-gkd1wb09 70 17 each each DT cord-032285-gkd1wb09 70 18 other other JJ cord-032285-gkd1wb09 70 19 ( ( -LRB- cord-032285-gkd1wb09 70 20 Minniti Minniti NNP cord-032285-gkd1wb09 70 21 , , , cord-032285-gkd1wb09 70 22 2005 2005 CD cord-032285-gkd1wb09 70 23 ; ; : cord-032285-gkd1wb09 70 24 Venables Venables NNP cord-032285-gkd1wb09 70 25 , , , cord-032285-gkd1wb09 70 26 2018 2018 CD cord-032285-gkd1wb09 70 27 ) ) -RRB- cord-032285-gkd1wb09 70 28 . . . cord-032285-gkd1wb09 71 1 Hence hence RB cord-032285-gkd1wb09 71 2 , , , cord-032285-gkd1wb09 71 3 a a DT cord-032285-gkd1wb09 71 4 confident confident JJ cord-032285-gkd1wb09 71 5 narrative narrative NN cord-032285-gkd1wb09 71 6 about about IN cord-032285-gkd1wb09 71 7 new new JJ cord-032285-gkd1wb09 71 8 opportunities opportunity NNS cord-032285-gkd1wb09 71 9 can can MD cord-032285-gkd1wb09 71 10 enhance enhance VB cord-032285-gkd1wb09 71 11 the the DT cord-032285-gkd1wb09 71 12 mutual mutual JJ cord-032285-gkd1wb09 71 13 prospects prospect NNS cord-032285-gkd1wb09 71 14 of of IN cord-032285-gkd1wb09 71 15 successful successful JJ cord-032285-gkd1wb09 71 16 investment investment NN cord-032285-gkd1wb09 71 17 . . . cord-032285-gkd1wb09 72 1 Narratives narrative NNS cord-032285-gkd1wb09 72 2 also also RB cord-032285-gkd1wb09 72 3 often often RB cord-032285-gkd1wb09 72 4 entangle entangle VBP cord-032285-gkd1wb09 72 5 causal causal JJ cord-032285-gkd1wb09 72 6 propositions proposition NNS cord-032285-gkd1wb09 72 7 with with IN cord-032285-gkd1wb09 72 8 emotions emotion NNS cord-032285-gkd1wb09 72 9 and and CC cord-032285-gkd1wb09 72 10 so so RB cord-032285-gkd1wb09 72 11 generate generate VB cord-032285-gkd1wb09 72 12 ' ' POS cord-032285-gkd1wb09 72 13 irrational irrational JJ cord-032285-gkd1wb09 72 14 exuberance exuberance NN cord-032285-gkd1wb09 72 15 ' ' '' cord-032285-gkd1wb09 72 16 . . . cord-032285-gkd1wb09 73 1 Since since IN cord-032285-gkd1wb09 73 2 many many JJ cord-032285-gkd1wb09 73 3 founder founder NN cord-032285-gkd1wb09 73 4 - - HYPH cord-032285-gkd1wb09 73 5 owners owner NNS cord-032285-gkd1wb09 73 6 of of IN cord-032285-gkd1wb09 73 7 SMEs sme NNS cord-032285-gkd1wb09 73 8 passionately passionately RB cord-032285-gkd1wb09 73 9 believe believe VBP cord-032285-gkd1wb09 73 10 in in IN cord-032285-gkd1wb09 73 11 their -PRON- PRP$ cord-032285-gkd1wb09 73 12 firm firm NN cord-032285-gkd1wb09 73 13 , , , cord-032285-gkd1wb09 73 14 this this DT cord-032285-gkd1wb09 73 15 entanglement entanglement NN cord-032285-gkd1wb09 73 16 is be VBZ cord-032285-gkd1wb09 73 17 perhaps perhaps RB cord-032285-gkd1wb09 73 18 analogous analogous JJ cord-032285-gkd1wb09 73 19 to to IN cord-032285-gkd1wb09 73 20 what what WP cord-032285-gkd1wb09 73 21 Keynes Keynes NNP cord-032285-gkd1wb09 73 22 meant mean VBD cord-032285-gkd1wb09 73 23 by by IN cord-032285-gkd1wb09 73 24 ' ' `` cord-032285-gkd1wb09 73 25 animal animal NN cord-032285-gkd1wb09 73 26 spirits spirit NNS cord-032285-gkd1wb09 73 27 ' ' '' cord-032285-gkd1wb09 73 28 . . . cord-032285-gkd1wb09 74 1 Hence hence RB cord-032285-gkd1wb09 74 2 , , , cord-032285-gkd1wb09 74 3 SME SME NNP cord-032285-gkd1wb09 74 4 entrepreneurs entrepreneur NNS cord-032285-gkd1wb09 74 5 , , , cord-032285-gkd1wb09 74 6 having have VBG cord-032285-gkd1wb09 74 7 less less RBR cord-032285-gkd1wb09 74 8 sophisticated sophisticated JJ cord-032285-gkd1wb09 74 9 procedures procedure NNS cord-032285-gkd1wb09 74 10 than than IN cord-032285-gkd1wb09 74 11 large large JJ cord-032285-gkd1wb09 74 12 firms firm NNS cord-032285-gkd1wb09 74 13 for for IN cord-032285-gkd1wb09 74 14 taking take VBG cord-032285-gkd1wb09 74 15 investment investment NN cord-032285-gkd1wb09 74 16 decisions decision NNS cord-032285-gkd1wb09 74 17 , , , cord-032285-gkd1wb09 74 18 may may MD cord-032285-gkd1wb09 74 19 be be VB cord-032285-gkd1wb09 74 20 less less RBR cord-032285-gkd1wb09 74 21 deterred deter VBN cord-032285-gkd1wb09 74 22 by by IN cord-032285-gkd1wb09 74 23 uncertainty uncertainty NN cord-032285-gkd1wb09 74 24 from from IN cord-032285-gkd1wb09 74 25 wanting want VBG cord-032285-gkd1wb09 74 26 to to TO cord-032285-gkd1wb09 74 27 invest invest VB cord-032285-gkd1wb09 74 28 in in IN cord-032285-gkd1wb09 74 29 new new JJ cord-032285-gkd1wb09 74 30 opportunities opportunity NNS cord-032285-gkd1wb09 74 31 . . . cord-032285-gkd1wb09 75 1 However however RB cord-032285-gkd1wb09 75 2 , , , cord-032285-gkd1wb09 75 3 an an DT cord-032285-gkd1wb09 75 4 SME SME NNP cord-032285-gkd1wb09 75 5 entrepreneur entrepreneur NN cord-032285-gkd1wb09 75 6 may may MD cord-032285-gkd1wb09 75 7 wish wish VB cord-032285-gkd1wb09 75 8 to to TO cord-032285-gkd1wb09 75 9 try try VB cord-032285-gkd1wb09 75 10 a a DT cord-032285-gkd1wb09 75 11 perceived perceive VBN cord-032285-gkd1wb09 75 12 opportunity opportunity NN cord-032285-gkd1wb09 75 13 yet yet CC cord-032285-gkd1wb09 75 14 be be VB cord-032285-gkd1wb09 75 15 unable unable JJ cord-032285-gkd1wb09 75 16 to to TO cord-032285-gkd1wb09 75 17 do do VB cord-032285-gkd1wb09 75 18 so so RB cord-032285-gkd1wb09 75 19 . . . cord-032285-gkd1wb09 76 1 Many many JJ cord-032285-gkd1wb09 76 2 such such JJ cord-032285-gkd1wb09 76 3 opportunities opportunity NNS cord-032285-gkd1wb09 76 4 can can MD cord-032285-gkd1wb09 76 5 only only RB cord-032285-gkd1wb09 76 6 be be VB cord-032285-gkd1wb09 76 7 properly properly RB cord-032285-gkd1wb09 76 8 tested test VBN cord-032285-gkd1wb09 76 9 if if IN cord-032285-gkd1wb09 76 10 implemented implement VBN cord-032285-gkd1wb09 76 11 at at IN cord-032285-gkd1wb09 76 12 some some DT cord-032285-gkd1wb09 76 13 threshold threshold NN cord-032285-gkd1wb09 76 14 scale scale NN cord-032285-gkd1wb09 76 15 : : : cord-032285-gkd1wb09 76 16 below below IN cord-032285-gkd1wb09 76 17 this this DT cord-032285-gkd1wb09 76 18 , , , cord-032285-gkd1wb09 76 19 production production NN cord-032285-gkd1wb09 76 20 costs cost NNS cord-032285-gkd1wb09 76 21 are be VBP cord-032285-gkd1wb09 76 22 prohibitively prohibitively RB cord-032285-gkd1wb09 76 23 high high JJ cord-032285-gkd1wb09 76 24 so so IN cord-032285-gkd1wb09 76 25 that that IN cord-032285-gkd1wb09 76 26 the the DT cord-032285-gkd1wb09 76 27 market market NN cord-032285-gkd1wb09 76 28 potential potential NN cord-032285-gkd1wb09 76 29 remains remain VBZ cord-032285-gkd1wb09 76 30 unknown unknown JJ cord-032285-gkd1wb09 76 31 , , , cord-032285-gkd1wb09 76 32 as as IN cord-032285-gkd1wb09 76 33 in in IN cord-032285-gkd1wb09 76 34 Akerlof Akerlof NNP cord-032285-gkd1wb09 76 35 and and CC cord-032285-gkd1wb09 76 36 Holden Holden NNP cord-032285-gkd1wb09 76 37 ( ( -LRB- cord-032285-gkd1wb09 76 38 2016 2016 CD cord-032285-gkd1wb09 76 39 ) ) -RRB- cord-032285-gkd1wb09 76 40 . . . cord-032285-gkd1wb09 77 1 This this DT cord-032285-gkd1wb09 77 2 threshold threshold NN cord-032285-gkd1wb09 77 3 requires require VBZ cord-032285-gkd1wb09 77 4 finance finance NN cord-032285-gkd1wb09 77 5 , , , cord-032285-gkd1wb09 77 6 whether whether IN cord-032285-gkd1wb09 77 7 from from IN cord-032285-gkd1wb09 77 8 the the DT cord-032285-gkd1wb09 77 9 own own JJ cord-032285-gkd1wb09 77 10 resources resource NNS cord-032285-gkd1wb09 77 11 of of IN cord-032285-gkd1wb09 77 12 the the DT cord-032285-gkd1wb09 77 13 entrepreneur entrepreneur NN cord-032285-gkd1wb09 77 14 , , , cord-032285-gkd1wb09 77 15 or or CC cord-032285-gkd1wb09 77 16 from from IN cord-032285-gkd1wb09 77 17 wealthholders wealthholder NNS cord-032285-gkd1wb09 77 18 and and CC cord-032285-gkd1wb09 77 19 their -PRON- PRP$ cord-032285-gkd1wb09 77 20 intermediaries intermediary NNS cord-032285-gkd1wb09 77 21 . . . cord-032285-gkd1wb09 78 1 They -PRON- PRP cord-032285-gkd1wb09 78 2 anticipate anticipate VBP cord-032285-gkd1wb09 78 3 that that IN cord-032285-gkd1wb09 78 4 many many JJ cord-032285-gkd1wb09 78 5 opportunities opportunity NNS cord-032285-gkd1wb09 78 6 will will MD cord-032285-gkd1wb09 78 7 require require VB cord-032285-gkd1wb09 78 8 external external JJ cord-032285-gkd1wb09 78 9 finance finance NN cord-032285-gkd1wb09 78 10 from from IN cord-032285-gkd1wb09 78 11 venture venture NN cord-032285-gkd1wb09 78 12 capital capital NN cord-032285-gkd1wb09 78 13 , , , cord-032285-gkd1wb09 78 14 and and CC cord-032285-gkd1wb09 78 15 that that IN cord-032285-gkd1wb09 78 16 due due IN cord-032285-gkd1wb09 78 17 to to IN cord-032285-gkd1wb09 78 18 information information NN cord-032285-gkd1wb09 78 19 asymmetries asymmetry NNS cord-032285-gkd1wb09 78 20 the the DT cord-032285-gkd1wb09 78 21 market market NN cord-032285-gkd1wb09 78 22 for for IN cord-032285-gkd1wb09 78 23 it -PRON- PRP cord-032285-gkd1wb09 78 24 will will MD cord-032285-gkd1wb09 78 25 not not RB cord-032285-gkd1wb09 78 26 be be VB cord-032285-gkd1wb09 78 27 competitive competitive JJ cord-032285-gkd1wb09 78 28 : : : cord-032285-gkd1wb09 78 29 financiers financier NNS cord-032285-gkd1wb09 78 30 will will MD cord-032285-gkd1wb09 78 31 capture capture VB cord-032285-gkd1wb09 78 32 rents rent NNS cord-032285-gkd1wb09 78 33 . . . cord-032285-gkd1wb09 79 1 If if IN cord-032285-gkd1wb09 79 2 external external JJ cord-032285-gkd1wb09 79 3 finance finance NN cord-032285-gkd1wb09 79 4 is be VBZ cord-032285-gkd1wb09 79 5 needed need VBN cord-032285-gkd1wb09 79 6 , , , cord-032285-gkd1wb09 79 7 this this DT cord-032285-gkd1wb09 79 8 pushes push VBZ cord-032285-gkd1wb09 79 9 the the DT cord-032285-gkd1wb09 79 10 decision decision NN cord-032285-gkd1wb09 79 11 problem problem NN cord-032285-gkd1wb09 79 12 under under IN cord-032285-gkd1wb09 79 13 uncertainty uncertainty NN cord-032285-gkd1wb09 79 14 one one CD cord-032285-gkd1wb09 79 15 stage stage NN cord-032285-gkd1wb09 79 16 back back RB cord-032285-gkd1wb09 79 17 from from IN cord-032285-gkd1wb09 79 18 the the DT cord-032285-gkd1wb09 79 19 willing willing JJ cord-032285-gkd1wb09 79 20 - - HYPH cord-032285-gkd1wb09 79 21 but but CC cord-032285-gkd1wb09 79 22 - - HYPH cord-032285-gkd1wb09 79 23 finance finance NN cord-032285-gkd1wb09 79 24 - - HYPH cord-032285-gkd1wb09 79 25 constrained constrain VBN cord-032285-gkd1wb09 79 26 entrepreneur entrepreneur NN cord-032285-gkd1wb09 79 27 , , , cord-032285-gkd1wb09 79 28 to to IN cord-032285-gkd1wb09 79 29 the the DT cord-032285-gkd1wb09 79 30 wealth wealth NN cord-032285-gkd1wb09 79 31 - - HYPH cord-032285-gkd1wb09 79 32 holder holder NN cord-032285-gkd1wb09 79 33 . . . cord-032285-gkd1wb09 80 1 Wealth wealth NN cord-032285-gkd1wb09 80 2 invested invest VBN cord-032285-gkd1wb09 80 3 in in IN cord-032285-gkd1wb09 80 4 an an DT cord-032285-gkd1wb09 80 5 SME SME NNP cord-032285-gkd1wb09 80 6 is be VBZ cord-032285-gkd1wb09 80 7 radically radically RB cord-032285-gkd1wb09 80 8 less less RBR cord-032285-gkd1wb09 80 9 liquid liquid JJ cord-032285-gkd1wb09 80 10 than than IN cord-032285-gkd1wb09 80 11 owning own VBG cord-032285-gkd1wb09 80 12 the the DT cord-032285-gkd1wb09 80 13 equity equity NN cord-032285-gkd1wb09 80 14 or or CC cord-032285-gkd1wb09 80 15 bonds bond NNS cord-032285-gkd1wb09 80 16 of of IN cord-032285-gkd1wb09 80 17 a a DT cord-032285-gkd1wb09 80 18 publicly publicly RB cord-032285-gkd1wb09 80 19 quoted quote VBN cord-032285-gkd1wb09 80 20 company company NN cord-032285-gkd1wb09 80 21 , , , cord-032285-gkd1wb09 80 22 and and CC cord-032285-gkd1wb09 80 23 monitoring monitor VBG cord-032285-gkd1wb09 80 24 the the DT cord-032285-gkd1wb09 80 25 firm firm NN cord-032285-gkd1wb09 80 26 is be VBZ cord-032285-gkd1wb09 80 27 more more RBR cord-032285-gkd1wb09 80 28 costly costly JJ cord-032285-gkd1wb09 80 29 per per IN cord-032285-gkd1wb09 80 30 unit unit NN cord-032285-gkd1wb09 80 31 of of IN cord-032285-gkd1wb09 80 32 investment investment NN cord-032285-gkd1wb09 80 33 . . . cord-032285-gkd1wb09 81 1 Individual individual JJ cord-032285-gkd1wb09 81 2 wealth wealth NN cord-032285-gkd1wb09 81 3 - - HYPH cord-032285-gkd1wb09 81 4 holders holder NNS cord-032285-gkd1wb09 81 5 can can MD cord-032285-gkd1wb09 81 6 reduce reduce VB cord-032285-gkd1wb09 81 7 these these DT cord-032285-gkd1wb09 81 8 risks risk NNS cord-032285-gkd1wb09 81 9 and and CC cord-032285-gkd1wb09 81 10 costs cost NNS cord-032285-gkd1wb09 81 11 by by IN cord-032285-gkd1wb09 81 12 using use VBG cord-032285-gkd1wb09 81 13 intermediaries intermediary NNS cord-032285-gkd1wb09 81 14 : : : cord-032285-gkd1wb09 81 15 banks bank NNS cord-032285-gkd1wb09 81 16 and and CC cord-032285-gkd1wb09 81 17 venture venture NN cord-032285-gkd1wb09 81 18 capital capital NN cord-032285-gkd1wb09 81 19 funds fund NNS cord-032285-gkd1wb09 81 20 . . . cord-032285-gkd1wb09 82 1 To to TO cord-032285-gkd1wb09 82 2 raise raise VB cord-032285-gkd1wb09 82 3 funds fund NNS cord-032285-gkd1wb09 82 4 , , , cord-032285-gkd1wb09 82 5 the the DT cord-032285-gkd1wb09 82 6 intermediary intermediary NN cord-032285-gkd1wb09 82 7 will will MD cord-032285-gkd1wb09 82 8 need need VB cord-032285-gkd1wb09 82 9 to to TO cord-032285-gkd1wb09 82 10 convince convince VB cord-032285-gkd1wb09 82 11 wealth wealth NN cord-032285-gkd1wb09 82 12 - - HYPH cord-032285-gkd1wb09 82 13 holders holder NNS cord-032285-gkd1wb09 82 14 that that IN cord-032285-gkd1wb09 82 15 it -PRON- PRP cord-032285-gkd1wb09 82 16 can can MD cord-032285-gkd1wb09 82 17 distinguish distinguish VB cord-032285-gkd1wb09 82 18 between between IN cord-032285-gkd1wb09 82 19 entrepreneurial entrepreneurial JJ cord-032285-gkd1wb09 82 20 exuberance exuberance NN cord-032285-gkd1wb09 82 21 and and CC cord-032285-gkd1wb09 82 22 genuine genuine JJ cord-032285-gkd1wb09 82 23 opportunities opportunity NNS cord-032285-gkd1wb09 82 24 . . . cord-032285-gkd1wb09 83 1 This this DT cord-032285-gkd1wb09 83 2 task task NN cord-032285-gkd1wb09 83 3 is be VBZ cord-032285-gkd1wb09 83 4 demanding demand VBG cord-032285-gkd1wb09 83 5 : : : cord-032285-gkd1wb09 83 6 Anyadike Anyadike NNP cord-032285-gkd1wb09 83 7 - - HYPH cord-032285-gkd1wb09 83 8 Danes Danes NNP cord-032285-gkd1wb09 83 9 et et NNP cord-032285-gkd1wb09 83 10 al al NNP cord-032285-gkd1wb09 83 11 . . . cord-032285-gkd1wb09 84 1 ( ( -LRB- cord-032285-gkd1wb09 84 2 2009 2009 CD cord-032285-gkd1wb09 84 3 ) ) -RRB- cord-032285-gkd1wb09 84 4 tracked track VBD cord-032285-gkd1wb09 84 5 a a DT cord-032285-gkd1wb09 84 6 cohort cohort NN cord-032285-gkd1wb09 84 7 of of IN cord-032285-gkd1wb09 84 8 business business NN cord-032285-gkd1wb09 84 9 start start NN cord-032285-gkd1wb09 84 10 - - HYPH cord-032285-gkd1wb09 84 11 ups up NNS cord-032285-gkd1wb09 84 12 and and CC cord-032285-gkd1wb09 84 13 found find VBD cord-032285-gkd1wb09 84 14 that that IN cord-032285-gkd1wb09 84 15 half half NN cord-032285-gkd1wb09 84 16 of of IN cord-032285-gkd1wb09 84 17 the the DT cord-032285-gkd1wb09 84 18 increase increase NN cord-032285-gkd1wb09 84 19 in in IN cord-032285-gkd1wb09 84 20 jobs job NNS cord-032285-gkd1wb09 84 21 came come VBD cord-032285-gkd1wb09 84 22 from from IN cord-032285-gkd1wb09 84 23 only only RB cord-032285-gkd1wb09 84 24 6 6 CD cord-032285-gkd1wb09 84 25 per per NN cord-032285-gkd1wb09 84 26 cent cent NN cord-032285-gkd1wb09 84 27 of of IN cord-032285-gkd1wb09 84 28 them -PRON- PRP cord-032285-gkd1wb09 84 29 . . . cord-032285-gkd1wb09 85 1 Banks bank NNS cord-032285-gkd1wb09 85 2 are be VBP cord-032285-gkd1wb09 85 3 able able JJ cord-032285-gkd1wb09 85 4 to to TO cord-032285-gkd1wb09 85 5 lend lend VB cord-032285-gkd1wb09 85 6 to to IN cord-032285-gkd1wb09 85 7 SMEs sme NNS cord-032285-gkd1wb09 85 8 on on IN cord-032285-gkd1wb09 85 9 collateral collateral NN cord-032285-gkd1wb09 85 10 , , , cord-032285-gkd1wb09 85 11 but but CC cord-032285-gkd1wb09 85 12 are be VBP cord-032285-gkd1wb09 85 13 not not RB cord-032285-gkd1wb09 85 14 equipped equip VBN cord-032285-gkd1wb09 85 15 to to TO cord-032285-gkd1wb09 85 16 lend lend VB cord-032285-gkd1wb09 85 17 on on IN cord-032285-gkd1wb09 85 18 their -PRON- PRP$ cord-032285-gkd1wb09 85 19 assessment assessment NN cord-032285-gkd1wb09 85 20 of of IN cord-032285-gkd1wb09 85 21 an an DT cord-032285-gkd1wb09 85 22 investment investment NN cord-032285-gkd1wb09 85 23 prospect prospect NN cord-032285-gkd1wb09 85 24 , , , cord-032285-gkd1wb09 85 25 and and CC cord-032285-gkd1wb09 85 26 indeed indeed RB cord-032285-gkd1wb09 85 27 are be VBP cord-032285-gkd1wb09 85 28 not not RB cord-032285-gkd1wb09 85 29 permitted permit VBN cord-032285-gkd1wb09 85 30 to to TO cord-032285-gkd1wb09 85 31 do do VB cord-032285-gkd1wb09 85 32 so so RB cord-032285-gkd1wb09 85 33 by by IN cord-032285-gkd1wb09 85 34 financial financial JJ cord-032285-gkd1wb09 85 35 regulators regulator NNS cord-032285-gkd1wb09 85 36 . . . cord-032285-gkd1wb09 86 1 Identifying identify VBG cord-032285-gkd1wb09 86 2 these these DT cord-032285-gkd1wb09 86 3 rare rare JJ cord-032285-gkd1wb09 86 4 genuine genuine JJ cord-032285-gkd1wb09 86 5 scale scale NN cord-032285-gkd1wb09 86 6 - - HYPH cord-032285-gkd1wb09 86 7 up up RP cord-032285-gkd1wb09 86 8 opportunities opportunity NNS cord-032285-gkd1wb09 86 9 is be VBZ cord-032285-gkd1wb09 86 10 the the DT cord-032285-gkd1wb09 86 11 role role NN cord-032285-gkd1wb09 86 12 of of IN cord-032285-gkd1wb09 86 13 venture venture NN cord-032285-gkd1wb09 86 14 capital capital NN cord-032285-gkd1wb09 86 15 intermediaries intermediary NNS cord-032285-gkd1wb09 86 16 , , , cord-032285-gkd1wb09 86 17 vital vital JJ cord-032285-gkd1wb09 86 18 both both DT cord-032285-gkd1wb09 86 19 for for IN cord-032285-gkd1wb09 86 20 commercial commercial JJ cord-032285-gkd1wb09 86 21 viability viability NN cord-032285-gkd1wb09 86 22 and and CC cord-032285-gkd1wb09 86 23 employment employment NN cord-032285-gkd1wb09 86 24 generation generation NN cord-032285-gkd1wb09 86 25 . . . cord-032285-gkd1wb09 87 1 Since since IN cord-032285-gkd1wb09 87 2 SME SME NNP cord-032285-gkd1wb09 87 3 investments investment NNS cord-032285-gkd1wb09 87 4 are be VBP cord-032285-gkd1wb09 87 5 illiquid illiquid JJ cord-032285-gkd1wb09 87 6 , , , cord-032285-gkd1wb09 87 7 reassurance reassurance NN cord-032285-gkd1wb09 87 8 depends depend VBZ cord-032285-gkd1wb09 87 9 upon upon IN cord-032285-gkd1wb09 87 10 a a DT cord-032285-gkd1wb09 87 11 capacity capacity NN cord-032285-gkd1wb09 87 12 for for IN cord-032285-gkd1wb09 87 13 intensive intensive JJ cord-032285-gkd1wb09 87 14 collection collection NN cord-032285-gkd1wb09 87 15 of of IN cord-032285-gkd1wb09 87 16 information information NN cord-032285-gkd1wb09 87 17 prior prior RB cord-032285-gkd1wb09 87 18 to to IN cord-032285-gkd1wb09 87 19 investment investment NN cord-032285-gkd1wb09 87 20 , , , cord-032285-gkd1wb09 87 21 with with IN cord-032285-gkd1wb09 87 22 the the DT cord-032285-gkd1wb09 87 23 continuous continuous JJ cord-032285-gkd1wb09 87 24 and and CC cord-032285-gkd1wb09 87 25 proximate proximate JJ cord-032285-gkd1wb09 87 26 monitoring monitoring NN cord-032285-gkd1wb09 87 27 needed need VBN cord-032285-gkd1wb09 87 28 to to TO cord-032285-gkd1wb09 87 29 generate generate VB cord-032285-gkd1wb09 87 30 firm firm JJ cord-032285-gkd1wb09 87 31 - - HYPH cord-032285-gkd1wb09 87 32 specific specific JJ cord-032285-gkd1wb09 87 33 knowledge knowledge NN cord-032285-gkd1wb09 87 34 until until IN cord-032285-gkd1wb09 87 35 the the DT cord-032285-gkd1wb09 87 36 investment investment NN cord-032285-gkd1wb09 87 37 matures mature VBZ cord-032285-gkd1wb09 87 38 , , , cord-032285-gkd1wb09 87 39 and and CC cord-032285-gkd1wb09 87 40 active active JJ cord-032285-gkd1wb09 87 41 involvement involvement NN cord-032285-gkd1wb09 87 42 in in IN cord-032285-gkd1wb09 87 43 management management NN cord-032285-gkd1wb09 87 44 during during IN cord-032285-gkd1wb09 87 45 which which WDT cord-032285-gkd1wb09 87 46 the the DT cord-032285-gkd1wb09 87 47 intermediary intermediary NN cord-032285-gkd1wb09 87 48 can can MD cord-032285-gkd1wb09 87 49 mentor mentor VB cord-032285-gkd1wb09 87 50 the the DT cord-032285-gkd1wb09 87 51 company company NN cord-032285-gkd1wb09 87 52 . . . cord-032285-gkd1wb09 88 1 This this DT cord-032285-gkd1wb09 88 2 is be VBZ cord-032285-gkd1wb09 88 3 complex complex JJ cord-032285-gkd1wb09 88 4 , , , cord-032285-gkd1wb09 88 5 so so RB cord-032285-gkd1wb09 88 6 intensive intensive JJ cord-032285-gkd1wb09 88 7 in in IN cord-032285-gkd1wb09 88 8 tacit tacit JJ cord-032285-gkd1wb09 88 9 knowledge knowledge NN cord-032285-gkd1wb09 88 10 ( ( -LRB- cord-032285-gkd1wb09 88 11 Nightingale Nightingale NNP cord-032285-gkd1wb09 88 12 , , , cord-032285-gkd1wb09 88 13 2009 2009 CD cord-032285-gkd1wb09 88 14 ) ) -RRB- cord-032285-gkd1wb09 88 15 . . . cord-032285-gkd1wb09 89 1 In in IN cord-032285-gkd1wb09 89 2 mentoring mentoring NN cord-032285-gkd1wb09 89 3 , , , cord-032285-gkd1wb09 89 4 the the DT cord-032285-gkd1wb09 89 5 venture venture NN cord-032285-gkd1wb09 89 6 capitalist capitalist NN cord-032285-gkd1wb09 89 7 combines combine VBZ cord-032285-gkd1wb09 89 8 the the DT cord-032285-gkd1wb09 89 9 codified codify VBN cord-032285-gkd1wb09 89 10 knowledge knowledge NN cord-032285-gkd1wb09 89 11 learnt learn VBN cord-032285-gkd1wb09 89 12 from from IN cord-032285-gkd1wb09 89 13 past past JJ cord-032285-gkd1wb09 89 14 training training NN cord-032285-gkd1wb09 89 15 in in IN cord-032285-gkd1wb09 89 16 finance finance NN cord-032285-gkd1wb09 89 17 and and CC cord-032285-gkd1wb09 89 18 management management NN cord-032285-gkd1wb09 89 19 practice practice NN cord-032285-gkd1wb09 89 20 , , , cord-032285-gkd1wb09 89 21 with with IN cord-032285-gkd1wb09 89 22 this this DT cord-032285-gkd1wb09 89 23 tacit tacit JJ cord-032285-gkd1wb09 89 24 knowledge knowledge NN cord-032285-gkd1wb09 89 25 learnt learn VBN cord-032285-gkd1wb09 89 26 from from IN cord-032285-gkd1wb09 89 27 experience experience NN cord-032285-gkd1wb09 89 28 in in IN cord-032285-gkd1wb09 89 29 SME SME NNP cord-032285-gkd1wb09 89 30 scale scale NN cord-032285-gkd1wb09 89 31 - - HYPH cord-032285-gkd1wb09 89 32 up up NN cord-032285-gkd1wb09 89 33 . . . cord-032285-gkd1wb09 90 1 A a DT cord-032285-gkd1wb09 90 2 good good JJ cord-032285-gkd1wb09 90 3 venture venture NN cord-032285-gkd1wb09 90 4 capitalist capitalist NN cord-032285-gkd1wb09 90 5 devotes devote VBZ cord-032285-gkd1wb09 90 6 substantial substantial JJ cord-032285-gkd1wb09 90 7 time time NN cord-032285-gkd1wb09 90 8 to to IN cord-032285-gkd1wb09 90 9 acquiring acquire VBG cord-032285-gkd1wb09 90 10 and and CC cord-032285-gkd1wb09 90 11 conveying convey VBG cord-032285-gkd1wb09 90 12 this this DT cord-032285-gkd1wb09 90 13 knowledge knowledge NN cord-032285-gkd1wb09 90 14 to to IN cord-032285-gkd1wb09 90 15 entrepreneurs entrepreneur NNS cord-032285-gkd1wb09 90 16 and and CC cord-032285-gkd1wb09 90 17 investors investor NNS cord-032285-gkd1wb09 90 18 ( ( -LRB- cord-032285-gkd1wb09 90 19 Mason Mason NNP cord-032285-gkd1wb09 90 20 , , , cord-032285-gkd1wb09 90 21 2020 2020 CD cord-032285-gkd1wb09 90 22 ) ) -RRB- cord-032285-gkd1wb09 90 23 . . . cord-032285-gkd1wb09 91 1 Even even RB cord-032285-gkd1wb09 91 2 with with IN cord-032285-gkd1wb09 91 3 this this DT cord-032285-gkd1wb09 91 4 intensive intensive JJ cord-032285-gkd1wb09 91 5 process process NN cord-032285-gkd1wb09 91 6 , , , cord-032285-gkd1wb09 91 7 a a DT cord-032285-gkd1wb09 91 8 venture venture NN cord-032285-gkd1wb09 91 9 capital capital NN cord-032285-gkd1wb09 91 10 intermediary intermediary NN cord-032285-gkd1wb09 91 11 expects expect VBZ cord-032285-gkd1wb09 91 12 to to TO cord-032285-gkd1wb09 91 13 make make VB cord-032285-gkd1wb09 91 14 many many JJ cord-032285-gkd1wb09 91 15 mistakes mistake NNS cord-032285-gkd1wb09 91 16 , , , cord-032285-gkd1wb09 91 17 but but CC cord-032285-gkd1wb09 91 18 through through IN cord-032285-gkd1wb09 91 19 its -PRON- PRP$ cord-032285-gkd1wb09 91 20 efforts effort NNS cord-032285-gkd1wb09 91 21 it -PRON- PRP cord-032285-gkd1wb09 91 22 develops develop VBZ cord-032285-gkd1wb09 91 23 a a DT cord-032285-gkd1wb09 91 24 track track NN cord-032285-gkd1wb09 91 25 record record NN cord-032285-gkd1wb09 91 26 which which WDT cord-032285-gkd1wb09 91 27 converts convert VBZ cord-032285-gkd1wb09 91 28 an an DT cord-032285-gkd1wb09 91 29 initial initial JJ cord-032285-gkd1wb09 91 30 state state NN cord-032285-gkd1wb09 91 31 of of IN cord-032285-gkd1wb09 91 32 radical radical JJ cord-032285-gkd1wb09 91 33 uncertainty uncertainty NN cord-032285-gkd1wb09 91 34 into into IN cord-032285-gkd1wb09 91 35 quantifiable quantifiable JJ cord-032285-gkd1wb09 91 36 risks risk NNS cord-032285-gkd1wb09 91 37 . . . cord-032285-gkd1wb09 92 1 But but CC cord-032285-gkd1wb09 92 2 the the DT cord-032285-gkd1wb09 92 3 tasks task NNS cord-032285-gkd1wb09 92 4 impose impose VBP cord-032285-gkd1wb09 92 5 considerable considerable JJ cord-032285-gkd1wb09 92 6 fixed fix VBN cord-032285-gkd1wb09 92 7 costs cost NNS cord-032285-gkd1wb09 92 8 , , , cord-032285-gkd1wb09 92 9 creating create VBG cord-032285-gkd1wb09 92 10 a a DT cord-032285-gkd1wb09 92 11 threshold threshold NN cord-032285-gkd1wb09 92 12 scale scale NN cord-032285-gkd1wb09 92 13 of of IN cord-032285-gkd1wb09 92 14 operation operation NN cord-032285-gkd1wb09 92 15 problem problem NN cord-032285-gkd1wb09 92 16 for for IN cord-032285-gkd1wb09 92 17 the the DT cord-032285-gkd1wb09 92 18 intermediary intermediary NN cord-032285-gkd1wb09 92 19 . . . cord-032285-gkd1wb09 93 1 The the DT cord-032285-gkd1wb09 93 2 market market NN cord-032285-gkd1wb09 93 3 may may MD cord-032285-gkd1wb09 93 4 not not RB cord-032285-gkd1wb09 93 5 merely merely RB cord-032285-gkd1wb09 93 6 be be VB cord-032285-gkd1wb09 93 7 uncompetitive uncompetitive JJ cord-032285-gkd1wb09 93 8 : : : cord-032285-gkd1wb09 93 9 if if IN cord-032285-gkd1wb09 93 10 proximity proximity NN cord-032285-gkd1wb09 93 11 is be VBZ cord-032285-gkd1wb09 93 12 necessary necessary JJ cord-032285-gkd1wb09 93 13 , , , cord-032285-gkd1wb09 93 14 in in IN cord-032285-gkd1wb09 93 15 some some DT cord-032285-gkd1wb09 93 16 places place NNS cord-032285-gkd1wb09 93 17 no no DT cord-032285-gkd1wb09 93 18 intermediary intermediary NN cord-032285-gkd1wb09 93 19 may may MD cord-032285-gkd1wb09 93 20 be be VB cord-032285-gkd1wb09 93 21 viable viable JJ cord-032285-gkd1wb09 93 22 and and CC cord-032285-gkd1wb09 93 23 so so RB cord-032285-gkd1wb09 93 24 risk risk NN cord-032285-gkd1wb09 93 25 - - HYPH cord-032285-gkd1wb09 93 26 capital capital NN cord-032285-gkd1wb09 93 27 to to IN cord-032285-gkd1wb09 93 28 SMEs sme NNS cord-032285-gkd1wb09 93 29 will will MD cord-032285-gkd1wb09 93 30 be be VB cord-032285-gkd1wb09 93 31 unavailable unavailable JJ cord-032285-gkd1wb09 93 32 : : : cord-032285-gkd1wb09 93 33 for for IN cord-032285-gkd1wb09 93 34 example example NN cord-032285-gkd1wb09 93 35 , , , cord-032285-gkd1wb09 93 36 there there EX cord-032285-gkd1wb09 93 37 is be VBZ cord-032285-gkd1wb09 93 38 no no DT cord-032285-gkd1wb09 93 39 venture venture NN cord-032285-gkd1wb09 93 40 capital capital NN cord-032285-gkd1wb09 93 41 firm firm NN cord-032285-gkd1wb09 93 42 in in IN cord-032285-gkd1wb09 93 43 Wales Wales NNP cord-032285-gkd1wb09 93 44 , , , cord-032285-gkd1wb09 93 45 a a DT cord-032285-gkd1wb09 93 46 region region NN cord-032285-gkd1wb09 93 47 of of IN cord-032285-gkd1wb09 93 48 3 3 CD cord-032285-gkd1wb09 93 49 m m NN cord-032285-gkd1wb09 93 50 people people NNS cord-032285-gkd1wb09 93 51 . . . cord-032285-gkd1wb09 94 1 The the DT cord-032285-gkd1wb09 94 2 uncertainty uncertainty NN cord-032285-gkd1wb09 94 3 arising arise VBG cord-032285-gkd1wb09 94 4 from from IN cord-032285-gkd1wb09 94 5 COVID COVID NNP cord-032285-gkd1wb09 94 6 consequently consequently RB cord-032285-gkd1wb09 94 7 affects affect VBZ cord-032285-gkd1wb09 94 8 both both CC cord-032285-gkd1wb09 94 9 the the DT cord-032285-gkd1wb09 94 10 desire desire NN cord-032285-gkd1wb09 94 11 to to TO cord-032285-gkd1wb09 94 12 invest invest VB cord-032285-gkd1wb09 94 13 and and CC cord-032285-gkd1wb09 94 14 the the DT cord-032285-gkd1wb09 94 15 ability ability NN cord-032285-gkd1wb09 94 16 to to TO cord-032285-gkd1wb09 94 17 finance finance VB cord-032285-gkd1wb09 94 18 it -PRON- PRP cord-032285-gkd1wb09 94 19 differently differently RB cord-032285-gkd1wb09 94 20 for for IN cord-032285-gkd1wb09 94 21 large large JJ cord-032285-gkd1wb09 94 22 firms firm NNS cord-032285-gkd1wb09 94 23 and and CC cord-032285-gkd1wb09 94 24 SMEs sme NNS cord-032285-gkd1wb09 94 25 . . . cord-032285-gkd1wb09 95 1 In in IN cord-032285-gkd1wb09 95 2 respect respect NN cord-032285-gkd1wb09 95 3 of of IN cord-032285-gkd1wb09 95 4 the the DT cord-032285-gkd1wb09 95 5 desire desire NN cord-032285-gkd1wb09 95 6 to to TO cord-032285-gkd1wb09 95 7 invest invest VB cord-032285-gkd1wb09 95 8 , , , cord-032285-gkd1wb09 95 9 as as IN cord-032285-gkd1wb09 95 10 the the DT cord-032285-gkd1wb09 95 11 boards board NNS cord-032285-gkd1wb09 95 12 of of IN cord-032285-gkd1wb09 95 13 large large JJ cord-032285-gkd1wb09 95 14 firms firm NNS cord-032285-gkd1wb09 95 15 react react VBP cord-032285-gkd1wb09 95 16 to to IN cord-032285-gkd1wb09 95 17 the the DT cord-032285-gkd1wb09 95 18 increase increase NN cord-032285-gkd1wb09 95 19 in in IN cord-032285-gkd1wb09 95 20 uncertainty uncertainty NN cord-032285-gkd1wb09 95 21 , , , cord-032285-gkd1wb09 95 22 investment investment NN cord-032285-gkd1wb09 95 23 projects project NNS cord-032285-gkd1wb09 95 24 will will MD cord-032285-gkd1wb09 95 25 be be VB cord-032285-gkd1wb09 95 26 less less RBR cord-032285-gkd1wb09 95 27 likely likely JJ cord-032285-gkd1wb09 95 28 to to TO cord-032285-gkd1wb09 95 29 be be VB cord-032285-gkd1wb09 95 30 approved approve VBN cord-032285-gkd1wb09 95 31 . . . cord-032285-gkd1wb09 96 1 In in IN cord-032285-gkd1wb09 96 2 contrast contrast NN cord-032285-gkd1wb09 96 3 , , , cord-032285-gkd1wb09 96 4 the the DT cord-032285-gkd1wb09 96 5 disruptive disruptive JJ cord-032285-gkd1wb09 96 6 demand demand NN cord-032285-gkd1wb09 96 7 shifts shift NNS cord-032285-gkd1wb09 96 8 caused cause VBN cord-032285-gkd1wb09 96 9 by by IN cord-032285-gkd1wb09 96 10 COVID COVID NNP cord-032285-gkd1wb09 96 11 create create VBP cord-032285-gkd1wb09 96 12 new new JJ cord-032285-gkd1wb09 96 13 opportunities opportunity NNS cord-032285-gkd1wb09 96 14 that that WDT cord-032285-gkd1wb09 96 15 SME SME NNP cord-032285-gkd1wb09 96 16 entrepreneurs entrepreneur NNS cord-032285-gkd1wb09 96 17 may may MD cord-032285-gkd1wb09 96 18 seize seize VB cord-032285-gkd1wb09 96 19 with with IN cord-032285-gkd1wb09 96 20 enthusiasm enthusiasm NN cord-032285-gkd1wb09 96 21 . . . cord-032285-gkd1wb09 97 1 In in IN cord-032285-gkd1wb09 97 2 respect respect NN cord-032285-gkd1wb09 97 3 of of IN cord-032285-gkd1wb09 97 4 access access NN cord-032285-gkd1wb09 97 5 to to IN cord-032285-gkd1wb09 97 6 investment investment NN cord-032285-gkd1wb09 97 7 finance finance NN cord-032285-gkd1wb09 97 8 , , , cord-032285-gkd1wb09 97 9 large large JJ cord-032285-gkd1wb09 97 10 firms firm NNS cord-032285-gkd1wb09 97 11 almost almost RB cord-032285-gkd1wb09 97 12 always always RB cord-032285-gkd1wb09 97 13 have have VBP cord-032285-gkd1wb09 97 14 access access NN cord-032285-gkd1wb09 97 15 because because IN cord-032285-gkd1wb09 97 16 their -PRON- PRP$ cord-032285-gkd1wb09 97 17 equity equity NN cord-032285-gkd1wb09 97 18 and and CC cord-032285-gkd1wb09 97 19 bonds bond NNS cord-032285-gkd1wb09 97 20 are be VBP cord-032285-gkd1wb09 97 21 readily readily RB cord-032285-gkd1wb09 97 22 marketable marketable JJ cord-032285-gkd1wb09 97 23 . . . cord-032285-gkd1wb09 98 1 SMEs sme NNS cord-032285-gkd1wb09 98 2 are be VBP cord-032285-gkd1wb09 98 3 only only RB cord-032285-gkd1wb09 98 4 able able JJ cord-032285-gkd1wb09 98 5 to to TO cord-032285-gkd1wb09 98 6 raise raise VB cord-032285-gkd1wb09 98 7 finance finance NN cord-032285-gkd1wb09 98 8 for for IN cord-032285-gkd1wb09 98 9 investment investment NN cord-032285-gkd1wb09 98 10 if if IN cord-032285-gkd1wb09 98 11 they -PRON- PRP cord-032285-gkd1wb09 98 12 have have VBP cord-032285-gkd1wb09 98 13 collateral collateral NN cord-032285-gkd1wb09 98 14 or or CC cord-032285-gkd1wb09 98 15 access access NN cord-032285-gkd1wb09 98 16 to to IN cord-032285-gkd1wb09 98 17 venture venture NN cord-032285-gkd1wb09 98 18 capital capital NN cord-032285-gkd1wb09 98 19 . . . cord-032285-gkd1wb09 99 1 COVID COVID NNP cord-032285-gkd1wb09 99 2 weakens weaken VBZ cord-032285-gkd1wb09 99 3 SME SME NNP cord-032285-gkd1wb09 99 4 access access NN cord-032285-gkd1wb09 99 5 to to IN cord-032285-gkd1wb09 99 6 banks bank NNS cord-032285-gkd1wb09 99 7 because because IN cord-032285-gkd1wb09 99 8 it -PRON- PRP cord-032285-gkd1wb09 99 9 creates create VBZ cord-032285-gkd1wb09 99 10 uncertainty uncertainty NN cord-032285-gkd1wb09 99 11 as as IN cord-032285-gkd1wb09 99 12 to to IN cord-032285-gkd1wb09 99 13 the the DT cord-032285-gkd1wb09 99 14 valuation valuation NN cord-032285-gkd1wb09 99 15 of of IN cord-032285-gkd1wb09 99 16 assets asset NNS cord-032285-gkd1wb09 99 17 such such JJ cord-032285-gkd1wb09 99 18 as as IN cord-032285-gkd1wb09 99 19 houses house NNS cord-032285-gkd1wb09 99 20 and and CC cord-032285-gkd1wb09 99 21 stock stock NN cord-032285-gkd1wb09 99 22 , , , cord-032285-gkd1wb09 99 23 and and CC cord-032285-gkd1wb09 99 24 , , , cord-032285-gkd1wb09 99 25 as as IN cord-032285-gkd1wb09 99 26 we -PRON- PRP cord-032285-gkd1wb09 99 27 argue argue VBP cord-032285-gkd1wb09 99 28 in in IN cord-032285-gkd1wb09 99 29 section section NN cord-032285-gkd1wb09 99 30 III iii CD cord-032285-gkd1wb09 99 31 , , , cord-032285-gkd1wb09 99 32 many many JJ cord-032285-gkd1wb09 99 33 SMEs sme NNS cord-032285-gkd1wb09 99 34 may may MD cord-032285-gkd1wb09 99 35 have have VB cord-032285-gkd1wb09 99 36 no no DT cord-032285-gkd1wb09 99 37 access access NN cord-032285-gkd1wb09 99 38 to to IN cord-032285-gkd1wb09 99 39 venture venture NN cord-032285-gkd1wb09 99 40 capital capital NN cord-032285-gkd1wb09 99 41 . . . cord-032285-gkd1wb09 100 1 This this DT cord-032285-gkd1wb09 100 2 yields yield VBZ cord-032285-gkd1wb09 100 3 a a DT cord-032285-gkd1wb09 100 4 testable testable JJ cord-032285-gkd1wb09 100 5 hypothesis hypothesis NN cord-032285-gkd1wb09 100 6 about about IN cord-032285-gkd1wb09 100 7 the the DT cord-032285-gkd1wb09 100 8 consequences consequence NNS cord-032285-gkd1wb09 100 9 of of IN cord-032285-gkd1wb09 100 10 uncertainty uncertainty NN cord-032285-gkd1wb09 100 11 . . . cord-032285-gkd1wb09 101 1 In in IN cord-032285-gkd1wb09 101 2 large large JJ cord-032285-gkd1wb09 101 3 firms firm NNS cord-032285-gkd1wb09 101 4 , , , cord-032285-gkd1wb09 101 5 what what WP cord-032285-gkd1wb09 101 6 drops drop VBZ cord-032285-gkd1wb09 101 7 is be VBZ cord-032285-gkd1wb09 101 8 not not RB cord-032285-gkd1wb09 101 9 their -PRON- PRP$ cord-032285-gkd1wb09 101 10 access access NN cord-032285-gkd1wb09 101 11 to to IN cord-032285-gkd1wb09 101 12 finance finance NN cord-032285-gkd1wb09 101 13 but but CC cord-032285-gkd1wb09 101 14 their -PRON- PRP$ cord-032285-gkd1wb09 101 15 appetite appetite NN cord-032285-gkd1wb09 101 16 for for IN cord-032285-gkd1wb09 101 17 it -PRON- PRP cord-032285-gkd1wb09 101 18 . . . cord-032285-gkd1wb09 102 1 In in IN cord-032285-gkd1wb09 102 2 contrast contrast NN cord-032285-gkd1wb09 102 3 , , , cord-032285-gkd1wb09 102 4 in in IN cord-032285-gkd1wb09 102 5 SMEs sme NNS cord-032285-gkd1wb09 102 6 , , , cord-032285-gkd1wb09 102 7 what what WP cord-032285-gkd1wb09 102 8 drops drop VBZ cord-032285-gkd1wb09 102 9 is be VBZ cord-032285-gkd1wb09 102 10 not not RB cord-032285-gkd1wb09 102 11 the the DT cord-032285-gkd1wb09 102 12 appetite appetite NN cord-032285-gkd1wb09 102 13 but but CC cord-032285-gkd1wb09 102 14 their -PRON- PRP$ cord-032285-gkd1wb09 102 15 access access NN cord-032285-gkd1wb09 102 16 . . . cord-032285-gkd1wb09 103 1 The the DT cord-032285-gkd1wb09 103 2 Global Global NNP cord-032285-gkd1wb09 103 3 Financial Financial NNP cord-032285-gkd1wb09 103 4 Crisis Crisis NNP cord-032285-gkd1wb09 103 5 of of IN cord-032285-gkd1wb09 103 6 2008 2008 CD cord-032285-gkd1wb09 103 7 caused cause VBD cord-032285-gkd1wb09 103 8 a a DT cord-032285-gkd1wb09 103 9 sudden sudden JJ cord-032285-gkd1wb09 103 10 leap leap NN cord-032285-gkd1wb09 103 11 in in IN cord-032285-gkd1wb09 103 12 uncertainty uncertainty NN cord-032285-gkd1wb09 103 13 equivalent equivalent JJ cord-032285-gkd1wb09 103 14 to to IN cord-032285-gkd1wb09 103 15 COVID COVID NNP cord-032285-gkd1wb09 103 16 . . . cord-032285-gkd1wb09 104 1 Besley Besley NNP cord-032285-gkd1wb09 104 2 et et NNP cord-032285-gkd1wb09 104 3 al al NNP cord-032285-gkd1wb09 104 4 . . . cord-032285-gkd1wb09 105 1 ( ( -LRB- cord-032285-gkd1wb09 105 2 2020 2020 CD cord-032285-gkd1wb09 105 3 ) ) -RRB- cord-032285-gkd1wb09 105 4 investigate investigate VB cord-032285-gkd1wb09 105 5 its -PRON- PRP$ cord-032285-gkd1wb09 105 6 effect effect NN cord-032285-gkd1wb09 105 7 on on IN cord-032285-gkd1wb09 105 8 access access NN cord-032285-gkd1wb09 105 9 to to IN cord-032285-gkd1wb09 105 10 credit credit NN cord-032285-gkd1wb09 105 11 by by IN cord-032285-gkd1wb09 105 12 firm firm JJ cord-032285-gkd1wb09 105 13 type type NN cord-032285-gkd1wb09 105 14 . . . cord-032285-gkd1wb09 106 1 They -PRON- PRP cord-032285-gkd1wb09 106 2 find find VBP cord-032285-gkd1wb09 106 3 precisely precisely RB cord-032285-gkd1wb09 106 4 the the DT cord-032285-gkd1wb09 106 5 pattern pattern NN cord-032285-gkd1wb09 106 6 of of IN cord-032285-gkd1wb09 106 7 access access NN cord-032285-gkd1wb09 106 8 that that WDT cord-032285-gkd1wb09 106 9 we -PRON- PRP cord-032285-gkd1wb09 106 10 predict predict VBP cord-032285-gkd1wb09 106 11 : : : cord-032285-gkd1wb09 106 12 SME SME NNP cord-032285-gkd1wb09 106 13 creditworthiness creditworthiness NN cord-032285-gkd1wb09 106 14 drops drop VBZ cord-032285-gkd1wb09 106 15 more more JJR cord-032285-gkd1wb09 106 16 than than IN cord-032285-gkd1wb09 106 17 for for IN cord-032285-gkd1wb09 106 18 large large JJ cord-032285-gkd1wb09 106 19 firms firm NNS cord-032285-gkd1wb09 106 20 and and CC cord-032285-gkd1wb09 106 21 takes take VBZ cord-032285-gkd1wb09 106 22 much much RB cord-032285-gkd1wb09 106 23 longer long JJR cord-032285-gkd1wb09 106 24 to to TO cord-032285-gkd1wb09 106 25 recover recover VB cord-032285-gkd1wb09 106 26 . . . cord-032285-gkd1wb09 107 1 Britain Britain NNP cord-032285-gkd1wb09 107 2 is be VBZ cord-032285-gkd1wb09 107 3 now now RB cord-032285-gkd1wb09 107 4 the the DT cord-032285-gkd1wb09 107 5 most most RBS cord-032285-gkd1wb09 107 6 spatially spatially RB cord-032285-gkd1wb09 107 7 unequal unequal JJ cord-032285-gkd1wb09 107 8 major major JJ cord-032285-gkd1wb09 107 9 society society NN cord-032285-gkd1wb09 107 10 in in IN cord-032285-gkd1wb09 107 11 the the DT cord-032285-gkd1wb09 107 12 OECD OECD NNP cord-032285-gkd1wb09 108 1 ( ( -LRB- cord-032285-gkd1wb09 108 2 McCann McCann NNP cord-032285-gkd1wb09 108 3 , , , cord-032285-gkd1wb09 108 4 2018 2018 CD cord-032285-gkd1wb09 108 5 ) ) -RRB- cord-032285-gkd1wb09 108 6 . . . cord-032285-gkd1wb09 109 1 Since since IN cord-032285-gkd1wb09 109 2 1980 1980 CD cord-032285-gkd1wb09 109 3 growth growth NN cord-032285-gkd1wb09 109 4 has have VBZ cord-032285-gkd1wb09 109 5 been be VBN cord-032285-gkd1wb09 109 6 heavily heavily RB cord-032285-gkd1wb09 109 7 skewed skewed JJ cord-032285-gkd1wb09 109 8 towards towards IN cord-032285-gkd1wb09 109 9 London London NNP cord-032285-gkd1wb09 109 10 and and CC cord-032285-gkd1wb09 109 11 the the DT cord-032285-gkd1wb09 109 12 south south NNP cord-032285-gkd1wb09 109 13 - - HYPH cord-032285-gkd1wb09 109 14 east east NNP cord-032285-gkd1wb09 109 15 , , , cord-032285-gkd1wb09 109 16 where where WRB cord-032285-gkd1wb09 109 17 labour labour NN cord-032285-gkd1wb09 109 18 productivity productivity NN cord-032285-gkd1wb09 109 19 is be VBZ cord-032285-gkd1wb09 109 20 now now RB cord-032285-gkd1wb09 109 21 70 70 CD cord-032285-gkd1wb09 109 22 per per IN cord-032285-gkd1wb09 109 23 cent cent NN cord-032285-gkd1wb09 109 24 above above IN cord-032285-gkd1wb09 109 25 that that DT cord-032285-gkd1wb09 109 26 in in IN cord-032285-gkd1wb09 109 27 the the DT cord-032285-gkd1wb09 109 28 rest rest NN cord-032285-gkd1wb09 109 29 of of IN cord-032285-gkd1wb09 109 30 the the DT cord-032285-gkd1wb09 109 31 country country NN cord-032285-gkd1wb09 109 32 . . . cord-032285-gkd1wb09 110 1 The the DT cord-032285-gkd1wb09 110 2 skew skew NNS cord-032285-gkd1wb09 110 3 in in IN cord-032285-gkd1wb09 110 4 the the DT cord-032285-gkd1wb09 110 5 spatial spatial JJ cord-032285-gkd1wb09 110 6 allocation allocation NN cord-032285-gkd1wb09 110 7 of of IN cord-032285-gkd1wb09 110 8 public public JJ cord-032285-gkd1wb09 110 9 expenditure expenditure NN cord-032285-gkd1wb09 110 10 on on IN cord-032285-gkd1wb09 110 11 infrastructure infrastructure NN cord-032285-gkd1wb09 110 12 and and CC cord-032285-gkd1wb09 110 13 research research NN cord-032285-gkd1wb09 110 14 funding funding NN cord-032285-gkd1wb09 110 15 has have VBZ cord-032285-gkd1wb09 110 16 contributed contribute VBN cord-032285-gkd1wb09 110 17 to to IN cord-032285-gkd1wb09 110 18 this this DT cord-032285-gkd1wb09 110 19 divergence divergence NN cord-032285-gkd1wb09 110 20 . . . cord-032285-gkd1wb09 111 1 For for IN cord-032285-gkd1wb09 111 2 example example NN cord-032285-gkd1wb09 111 3 , , , cord-032285-gkd1wb09 111 4 each each DT cord-032285-gkd1wb09 111 5 pound pound NN cord-032285-gkd1wb09 111 6 of of IN cord-032285-gkd1wb09 111 7 private private JJ cord-032285-gkd1wb09 111 8 - - HYPH cord-032285-gkd1wb09 111 9 sector sector NN cord-032285-gkd1wb09 111 10 spending spending NN cord-032285-gkd1wb09 111 11 on on IN cord-032285-gkd1wb09 111 12 research research NN cord-032285-gkd1wb09 111 13 and and CC cord-032285-gkd1wb09 111 14 development development NN cord-032285-gkd1wb09 111 15 is be VBZ cord-032285-gkd1wb09 111 16 matched match VBN cord-032285-gkd1wb09 111 17 by by IN cord-032285-gkd1wb09 111 18 a a DT cord-032285-gkd1wb09 111 19 pound pound NN cord-032285-gkd1wb09 111 20 of of IN cord-032285-gkd1wb09 111 21 public public JJ cord-032285-gkd1wb09 111 22 spending spending NN cord-032285-gkd1wb09 111 23 in in IN cord-032285-gkd1wb09 111 24 London London NNP cord-032285-gkd1wb09 111 25 , , , cord-032285-gkd1wb09 111 26 but but CC cord-032285-gkd1wb09 111 27 only only RB cord-032285-gkd1wb09 111 28 25 25 CD cord-032285-gkd1wb09 111 29 pence penny NNS cord-032285-gkd1wb09 111 30 in in IN cord-032285-gkd1wb09 111 31 the the DT cord-032285-gkd1wb09 111 32 West West NNP cord-032285-gkd1wb09 111 33 Midlands Midlands NNP cord-032285-gkd1wb09 111 34 ( ( -LRB- cord-032285-gkd1wb09 111 35 Jones Jones NNP cord-032285-gkd1wb09 111 36 and and CC cord-032285-gkd1wb09 111 37 Forth forth RB cord-032285-gkd1wb09 111 38 , , , cord-032285-gkd1wb09 111 39 2020 2020 CD cord-032285-gkd1wb09 111 40 ) ) -RRB- cord-032285-gkd1wb09 111 41 . . . cord-032285-gkd1wb09 112 1 Social social JJ cord-032285-gkd1wb09 112 2 expenditures expenditure NNS cord-032285-gkd1wb09 112 3 and and CC cord-032285-gkd1wb09 112 4 outcomes outcome NNS cord-032285-gkd1wb09 112 5 have have VBP cord-032285-gkd1wb09 112 6 become become VBN cord-032285-gkd1wb09 112 7 similarly similarly RB cord-032285-gkd1wb09 112 8 divergent divergent JJ cord-032285-gkd1wb09 112 9 . . . cord-032285-gkd1wb09 113 1 Education education NN cord-032285-gkd1wb09 113 2 spending spending NN cord-032285-gkd1wb09 113 3 and and CC cord-032285-gkd1wb09 113 4 attainments attainment NNS cord-032285-gkd1wb09 113 5 are be VBP cord-032285-gkd1wb09 113 6 considerably considerably RB cord-032285-gkd1wb09 113 7 higher high JJR cord-032285-gkd1wb09 113 8 in in IN cord-032285-gkd1wb09 113 9 London London NNP cord-032285-gkd1wb09 113 10 than than IN cord-032285-gkd1wb09 113 11 elsewhere elsewhere RB cord-032285-gkd1wb09 113 12 , , , cord-032285-gkd1wb09 113 13 as as IN cord-032285-gkd1wb09 113 14 are be VBP cord-032285-gkd1wb09 113 15 health health NN cord-032285-gkd1wb09 113 16 spending spending NN cord-032285-gkd1wb09 113 17 and and CC cord-032285-gkd1wb09 113 18 outcomes outcome NNS cord-032285-gkd1wb09 113 19 ( ( -LRB- cord-032285-gkd1wb09 113 20 GBD GBD NNP cord-032285-gkd1wb09 113 21 Associates Associates NNPS cord-032285-gkd1wb09 113 22 , , , cord-032285-gkd1wb09 113 23 2018 2018 CD cord-032285-gkd1wb09 113 24 ) ) -RRB- cord-032285-gkd1wb09 113 25 . . . cord-032285-gkd1wb09 114 1 As as IN cord-032285-gkd1wb09 114 2 this this DT cord-032285-gkd1wb09 114 3 has have VBZ cord-032285-gkd1wb09 114 4 become become VBN cord-032285-gkd1wb09 114 5 politically politically RB cord-032285-gkd1wb09 114 6 salient salient JJ cord-032285-gkd1wb09 114 7 , , , cord-032285-gkd1wb09 114 8 regional regional JJ cord-032285-gkd1wb09 114 9 economic economic JJ cord-032285-gkd1wb09 114 10 convergence convergence NN cord-032285-gkd1wb09 114 11 , , , cord-032285-gkd1wb09 114 12 and and CC cord-032285-gkd1wb09 114 13 especially especially RB cord-032285-gkd1wb09 114 14 the the DT cord-032285-gkd1wb09 114 15 need need NN cord-032285-gkd1wb09 114 16 to to TO cord-032285-gkd1wb09 114 17 raise raise VB cord-032285-gkd1wb09 114 18 productivity productivity NN cord-032285-gkd1wb09 114 19 in in IN cord-032285-gkd1wb09 114 20 the the DT cord-032285-gkd1wb09 114 21 provinces province NNS cord-032285-gkd1wb09 114 22 , , , cord-032285-gkd1wb09 114 23 is be VBZ cord-032285-gkd1wb09 114 24 a a DT cord-032285-gkd1wb09 114 25 now now RB cord-032285-gkd1wb09 114 26 major major JJ cord-032285-gkd1wb09 114 27 policy policy NN cord-032285-gkd1wb09 114 28 priority priority NN cord-032285-gkd1wb09 114 29 . . . cord-032285-gkd1wb09 115 1 Localized localized JJ cord-032285-gkd1wb09 115 2 productivity productivity NN cord-032285-gkd1wb09 115 3 arises arise VBZ cord-032285-gkd1wb09 115 4 from from IN cord-032285-gkd1wb09 115 5 agglomerations agglomeration NNS cord-032285-gkd1wb09 115 6 that that WDT cord-032285-gkd1wb09 115 7 create create VBP cord-032285-gkd1wb09 115 8 mutual mutual JJ cord-032285-gkd1wb09 115 9 benefits benefit NNS cord-032285-gkd1wb09 115 10 to to IN cord-032285-gkd1wb09 115 11 firms firm NNS cord-032285-gkd1wb09 115 12 and and CC cord-032285-gkd1wb09 115 13 workers worker NNS cord-032285-gkd1wb09 115 14 : : : cord-032285-gkd1wb09 115 15 common common JJ cord-032285-gkd1wb09 115 16 location location NN cord-032285-gkd1wb09 115 17 confers confer VBZ cord-032285-gkd1wb09 115 18 external external JJ cord-032285-gkd1wb09 115 19 benefits benefit NNS cord-032285-gkd1wb09 115 20 on on IN cord-032285-gkd1wb09 115 21 others other NNS cord-032285-gkd1wb09 115 22 that that WDT cord-032285-gkd1wb09 115 23 are be VBP cord-032285-gkd1wb09 115 24 proximate proximate JJ cord-032285-gkd1wb09 115 25 ( ( -LRB- cord-032285-gkd1wb09 115 26 Venables Venables NNP cord-032285-gkd1wb09 115 27 , , , cord-032285-gkd1wb09 115 28 2018 2018 CD cord-032285-gkd1wb09 115 29 ) ) -RRB- cord-032285-gkd1wb09 115 30 . . . cord-032285-gkd1wb09 116 1 The the DT cord-032285-gkd1wb09 116 2 theory theory NN cord-032285-gkd1wb09 116 3 of of IN cord-032285-gkd1wb09 116 4 agglomeration agglomeration NN cord-032285-gkd1wb09 116 5 predicts predict VBZ cord-032285-gkd1wb09 116 6 that that IN cord-032285-gkd1wb09 116 7 the the DT cord-032285-gkd1wb09 116 8 spatial spatial JJ cord-032285-gkd1wb09 116 9 allocation allocation NN cord-032285-gkd1wb09 116 10 of of IN cord-032285-gkd1wb09 116 11 activity activity NN cord-032285-gkd1wb09 116 12 is be VBZ cord-032285-gkd1wb09 116 13 ex ex FW cord-032285-gkd1wb09 116 14 ante ante NN cord-032285-gkd1wb09 116 15 indeterminate indeterminate JJ cord-032285-gkd1wb09 116 16 but but CC cord-032285-gkd1wb09 116 17 ex ex FW cord-032285-gkd1wb09 116 18 post post NN cord-032285-gkd1wb09 116 19 locally locally RB cord-032285-gkd1wb09 116 20 stable stable JJ cord-032285-gkd1wb09 116 21 . . . cord-032285-gkd1wb09 117 1 All all DT cord-032285-gkd1wb09 117 2 clusters cluster NNS cord-032285-gkd1wb09 117 3 enhance enhance VBP cord-032285-gkd1wb09 117 4 productivity productivity NN cord-032285-gkd1wb09 117 5 by by IN cord-032285-gkd1wb09 117 6 harnessing harness VBG cord-032285-gkd1wb09 117 7 cluster cluster NN cord-032285-gkd1wb09 117 8 scale scale NN cord-032285-gkd1wb09 117 9 - - HYPH cord-032285-gkd1wb09 117 10 economies economy NNS cord-032285-gkd1wb09 117 11 , , , cord-032285-gkd1wb09 117 12 but but CC cord-032285-gkd1wb09 117 13 clusters cluster NNS cord-032285-gkd1wb09 117 14 of of IN cord-032285-gkd1wb09 117 15 knowledge knowledge NN cord-032285-gkd1wb09 117 16 - - HYPH cord-032285-gkd1wb09 117 17 intensive intensive JJ cord-032285-gkd1wb09 117 18 firms firm NNS cord-032285-gkd1wb09 117 19 are be VBP cord-032285-gkd1wb09 117 20 particularly particularly RB cord-032285-gkd1wb09 117 21 valuable valuable JJ cord-032285-gkd1wb09 117 22 since since IN cord-032285-gkd1wb09 117 23 they -PRON- PRP cord-032285-gkd1wb09 117 24 provide provide VBP cord-032285-gkd1wb09 117 25 complementary complementary JJ cord-032285-gkd1wb09 117 26 opportunities opportunity NNS cord-032285-gkd1wb09 117 27 for for IN cord-032285-gkd1wb09 117 28 a a DT cord-032285-gkd1wb09 117 29 workforce workforce NN cord-032285-gkd1wb09 117 30 to to TO cord-032285-gkd1wb09 117 31 further far RBR cord-032285-gkd1wb09 117 32 raise raise VB cord-032285-gkd1wb09 117 33 productivity productivity NN cord-032285-gkd1wb09 117 34 by by IN cord-032285-gkd1wb09 117 35 the the DT cord-032285-gkd1wb09 117 36 high high JJ cord-032285-gkd1wb09 117 37 return return NN cord-032285-gkd1wb09 117 38 consequent consequent NN cord-032285-gkd1wb09 117 39 upon upon IN cord-032285-gkd1wb09 117 40 investment investment NN cord-032285-gkd1wb09 117 41 in in IN cord-032285-gkd1wb09 117 42 pertinent pertinent JJ cord-032285-gkd1wb09 117 43 skills skill NNS cord-032285-gkd1wb09 117 44 . . . cord-032285-gkd1wb09 118 1 The the DT cord-032285-gkd1wb09 118 2 interdependency interdependency NN cord-032285-gkd1wb09 118 3 of of IN cord-032285-gkd1wb09 118 4 spatially spatially RB cord-032285-gkd1wb09 118 5 - - HYPH cord-032285-gkd1wb09 118 6 specific specific JJ cord-032285-gkd1wb09 118 7 investment investment NN cord-032285-gkd1wb09 118 8 decisions decision NNS cord-032285-gkd1wb09 118 9 extends extend VBZ cord-032285-gkd1wb09 118 10 well well RB cord-032285-gkd1wb09 118 11 beyond beyond IN cord-032285-gkd1wb09 118 12 firms firm NNS cord-032285-gkd1wb09 118 13 . . . cord-032285-gkd1wb09 119 1 Investment investment NN cord-032285-gkd1wb09 119 2 in in IN cord-032285-gkd1wb09 119 3 skills skill NNS cord-032285-gkd1wb09 119 4 matters matter NNS cord-032285-gkd1wb09 119 5 , , , cord-032285-gkd1wb09 119 6 and and CC cord-032285-gkd1wb09 119 7 these these DT cord-032285-gkd1wb09 119 8 decisions decision NNS cord-032285-gkd1wb09 119 9 are be VBP cord-032285-gkd1wb09 119 10 taken take VBN cord-032285-gkd1wb09 119 11 by by IN cord-032285-gkd1wb09 119 12 households household NNS cord-032285-gkd1wb09 119 13 envisaging envisage VBG cord-032285-gkd1wb09 119 14 futures future NNS cord-032285-gkd1wb09 119 15 for for IN cord-032285-gkd1wb09 119 16 their -PRON- PRP$ cord-032285-gkd1wb09 119 17 youth youth NN cord-032285-gkd1wb09 119 18 , , , cord-032285-gkd1wb09 119 19 and and CC cord-032285-gkd1wb09 119 20 training training NN cord-032285-gkd1wb09 119 21 colleges college NNS cord-032285-gkd1wb09 119 22 planning planning NN cord-032285-gkd1wb09 119 23 courses course NNS cord-032285-gkd1wb09 119 24 . . . cord-032285-gkd1wb09 120 1 Developers developer NNS cord-032285-gkd1wb09 120 2 decide decide VBP cord-032285-gkd1wb09 120 3 on on IN cord-032285-gkd1wb09 120 4 investments investment NNS cord-032285-gkd1wb09 120 5 in in IN cord-032285-gkd1wb09 120 6 housing housing NN cord-032285-gkd1wb09 120 7 and and CC cord-032285-gkd1wb09 120 8 speculative speculative JJ cord-032285-gkd1wb09 120 9 commercial commercial JJ cord-032285-gkd1wb09 120 10 property property NN cord-032285-gkd1wb09 120 11 ; ; : cord-032285-gkd1wb09 120 12 local local JJ cord-032285-gkd1wb09 120 13 governments government NNS cord-032285-gkd1wb09 120 14 decide decide VBP cord-032285-gkd1wb09 120 15 on on IN cord-032285-gkd1wb09 120 16 infrastructure infrastructure NN cord-032285-gkd1wb09 120 17 ; ; , cord-032285-gkd1wb09 120 18 central central JJ cord-032285-gkd1wb09 120 19 government government NN cord-032285-gkd1wb09 120 20 decides decide VBZ cord-032285-gkd1wb09 120 21 on on IN cord-032285-gkd1wb09 120 22 research research NN cord-032285-gkd1wb09 120 23 funding funding NN cord-032285-gkd1wb09 120 24 for for IN cord-032285-gkd1wb09 120 25 universities university NNS cord-032285-gkd1wb09 120 26 ; ; : cord-032285-gkd1wb09 120 27 and and CC cord-032285-gkd1wb09 120 28 universities university NNS cord-032285-gkd1wb09 120 29 decide decide VBP cord-032285-gkd1wb09 120 30 whether whether IN cord-032285-gkd1wb09 120 31 to to TO cord-032285-gkd1wb09 120 32 use use VB cord-032285-gkd1wb09 120 33 it -PRON- PRP cord-032285-gkd1wb09 120 34 in in IN cord-032285-gkd1wb09 120 35 ways way NNS cord-032285-gkd1wb09 120 36 that that WDT cord-032285-gkd1wb09 120 37 engage engage VBP cord-032285-gkd1wb09 120 38 local local JJ cord-032285-gkd1wb09 120 39 business business NN cord-032285-gkd1wb09 120 40 . . . cord-032285-gkd1wb09 121 1 Each each DT cord-032285-gkd1wb09 121 2 of of IN cord-032285-gkd1wb09 121 3 these these DT cord-032285-gkd1wb09 121 4 has have VBZ cord-032285-gkd1wb09 121 5 the the DT cord-032285-gkd1wb09 121 6 potential potential NN cord-032285-gkd1wb09 121 7 to to TO cord-032285-gkd1wb09 121 8 enhance enhance VB cord-032285-gkd1wb09 121 9 the the DT cord-032285-gkd1wb09 121 10 productivity productivity NN cord-032285-gkd1wb09 121 11 of of IN cord-032285-gkd1wb09 121 12 the the DT cord-032285-gkd1wb09 121 13 others other NNS cord-032285-gkd1wb09 121 14 , , , cord-032285-gkd1wb09 121 15 but but CC cord-032285-gkd1wb09 121 16 each each DT cord-032285-gkd1wb09 121 17 is be VBZ cord-032285-gkd1wb09 121 18 a a DT cord-032285-gkd1wb09 121 19 distinct distinct JJ cord-032285-gkd1wb09 121 20 community community NN cord-032285-gkd1wb09 121 21 , , , cord-032285-gkd1wb09 121 22 and and CC cord-032285-gkd1wb09 121 23 so so RB cord-032285-gkd1wb09 121 24 will will MD cord-032285-gkd1wb09 121 25 be be VB cord-032285-gkd1wb09 121 26 liable liable JJ cord-032285-gkd1wb09 121 27 to to TO cord-032285-gkd1wb09 121 28 base base VB cord-032285-gkd1wb09 121 29 decisions decision NNS cord-032285-gkd1wb09 121 30 on on IN cord-032285-gkd1wb09 121 31 its -PRON- PRP$ cord-032285-gkd1wb09 121 32 own own JJ cord-032285-gkd1wb09 121 33 narratives narrative NNS cord-032285-gkd1wb09 121 34 . . . cord-032285-gkd1wb09 122 1 For for IN cord-032285-gkd1wb09 122 2 the the DT cord-032285-gkd1wb09 122 3 equilibrium equilibrium NN cord-032285-gkd1wb09 122 4 of of IN cord-032285-gkd1wb09 122 5 a a DT cord-032285-gkd1wb09 122 6 poor poor JJ cord-032285-gkd1wb09 122 7 region region NN cord-032285-gkd1wb09 122 8 to to TO cord-032285-gkd1wb09 122 9 be be VB cord-032285-gkd1wb09 122 10 reset reset JJ cord-032285-gkd1wb09 122 11 , , , cord-032285-gkd1wb09 122 12 these these DT cord-032285-gkd1wb09 122 13 interdependent interdependent JJ cord-032285-gkd1wb09 122 14 decisions decision NNS cord-032285-gkd1wb09 122 15 will will MD cord-032285-gkd1wb09 122 16 need need VB cord-032285-gkd1wb09 122 17 to to TO cord-032285-gkd1wb09 122 18 change change VB cord-032285-gkd1wb09 122 19 . . . cord-032285-gkd1wb09 123 1 There there EX cord-032285-gkd1wb09 123 2 have have VBP cord-032285-gkd1wb09 123 3 been be VBN cord-032285-gkd1wb09 123 4 many many JJ cord-032285-gkd1wb09 123 5 previous previous JJ cord-032285-gkd1wb09 123 6 Whitehall Whitehall NNP cord-032285-gkd1wb09 123 7 policy policy NN cord-032285-gkd1wb09 123 8 interventions intervention NNS cord-032285-gkd1wb09 123 9 to to TO cord-032285-gkd1wb09 123 10 redress redress VB cord-032285-gkd1wb09 123 11 regional regional JJ cord-032285-gkd1wb09 123 12 imbalance imbalance NN cord-032285-gkd1wb09 123 13 , , , cord-032285-gkd1wb09 123 14 but but CC cord-032285-gkd1wb09 123 15 all all DT cord-032285-gkd1wb09 123 16 have have VBP cord-032285-gkd1wb09 123 17 failed fail VBN cord-032285-gkd1wb09 123 18 . . . cord-032285-gkd1wb09 124 1 We -PRON- PRP cord-032285-gkd1wb09 124 2 do do VBP cord-032285-gkd1wb09 124 3 not not RB cord-032285-gkd1wb09 124 4 claim claim VB cord-032285-gkd1wb09 124 5 that that IN cord-032285-gkd1wb09 124 6 the the DT cord-032285-gkd1wb09 124 7 lack lack NN cord-032285-gkd1wb09 124 8 of of IN cord-032285-gkd1wb09 124 9 investment investment NN cord-032285-gkd1wb09 124 10 finance finance NN cord-032285-gkd1wb09 124 11 for for IN cord-032285-gkd1wb09 124 12 SMEs sme NNS cord-032285-gkd1wb09 124 13 in in IN cord-032285-gkd1wb09 124 14 poor poor JJ cord-032285-gkd1wb09 124 15 regions region NNS cord-032285-gkd1wb09 124 16 is be VBZ cord-032285-gkd1wb09 124 17 either either CC cord-032285-gkd1wb09 124 18 the the DT cord-032285-gkd1wb09 124 19 sole sole JJ cord-032285-gkd1wb09 124 20 cause cause NN cord-032285-gkd1wb09 124 21 or or CC cord-032285-gkd1wb09 124 22 its -PRON- PRP$ cord-032285-gkd1wb09 124 23 provision provision NN cord-032285-gkd1wb09 125 1 the the DT cord-032285-gkd1wb09 125 2 sole sole JJ cord-032285-gkd1wb09 125 3 solution solution NN cord-032285-gkd1wb09 125 4 to to IN cord-032285-gkd1wb09 125 5 this this DT cord-032285-gkd1wb09 125 6 formidable formidable JJ cord-032285-gkd1wb09 125 7 problem problem NN cord-032285-gkd1wb09 125 8 . . . cord-032285-gkd1wb09 126 1 Indeed indeed RB cord-032285-gkd1wb09 126 2 , , , cord-032285-gkd1wb09 126 3 given give VBN cord-032285-gkd1wb09 126 4 the the DT cord-032285-gkd1wb09 126 5 above above JJ cord-032285-gkd1wb09 126 6 interdependencies interdependency NNS cord-032285-gkd1wb09 126 7 , , , cord-032285-gkd1wb09 126 8 it -PRON- PRP cord-032285-gkd1wb09 126 9 seems seem VBZ cord-032285-gkd1wb09 126 10 likely likely JJ cord-032285-gkd1wb09 126 11 that that IN cord-032285-gkd1wb09 126 12 a a DT cord-032285-gkd1wb09 126 13 package package NN cord-032285-gkd1wb09 126 14 of of IN cord-032285-gkd1wb09 126 15 complementary complementary JJ cord-032285-gkd1wb09 126 16 policies policy NNS cord-032285-gkd1wb09 126 17 will will MD cord-032285-gkd1wb09 126 18 be be VB cord-032285-gkd1wb09 126 19 required require VBN cord-032285-gkd1wb09 126 20 . . . cord-032285-gkd1wb09 127 1 But but CC cord-032285-gkd1wb09 127 2 poor poor JJ cord-032285-gkd1wb09 127 3 regions region NNS cord-032285-gkd1wb09 127 4 will will MD cord-032285-gkd1wb09 127 5 need need VB cord-032285-gkd1wb09 127 6 many many JJ cord-032285-gkd1wb09 127 7 more more JJR cord-032285-gkd1wb09 127 8 productive productive JJ cord-032285-gkd1wb09 127 9 jobs job NNS cord-032285-gkd1wb09 127 10 and and CC cord-032285-gkd1wb09 127 11 most most JJS cord-032285-gkd1wb09 127 12 of of IN cord-032285-gkd1wb09 127 13 them -PRON- PRP cord-032285-gkd1wb09 127 14 will will MD cord-032285-gkd1wb09 127 15 need need VB cord-032285-gkd1wb09 127 16 to to TO cord-032285-gkd1wb09 127 17 come come VB cord-032285-gkd1wb09 127 18 from from IN cord-032285-gkd1wb09 127 19 SMEs sme NNS cord-032285-gkd1wb09 127 20 . . . cord-032285-gkd1wb09 128 1 Yet yet RB cord-032285-gkd1wb09 128 2 to to IN cord-032285-gkd1wb09 128 3 date date NN cord-032285-gkd1wb09 128 4 , , , cord-032285-gkd1wb09 128 5 the the DT cord-032285-gkd1wb09 128 6 geographic geographic JJ cord-032285-gkd1wb09 128 7 distribution distribution NN cord-032285-gkd1wb09 128 8 of of IN cord-032285-gkd1wb09 128 9 British british JJ cord-032285-gkd1wb09 128 10 SME SME NNP cord-032285-gkd1wb09 128 11 scale scale NN cord-032285-gkd1wb09 128 12 - - HYPH cord-032285-gkd1wb09 128 13 ups up NNS cord-032285-gkd1wb09 128 14 has have VBZ cord-032285-gkd1wb09 128 15 been be VBN cord-032285-gkd1wb09 128 16 heavily heavily RB cord-032285-gkd1wb09 128 17 skewed skewed JJ cord-032285-gkd1wb09 128 18 towards towards IN cord-032285-gkd1wb09 128 19 the the DT cord-032285-gkd1wb09 128 20 south south NNP cord-032285-gkd1wb09 128 21 - - HYPH cord-032285-gkd1wb09 128 22 east east NNP cord-032285-gkd1wb09 128 23 ( ( -LRB- cord-032285-gkd1wb09 128 24 Mason Mason NNP cord-032285-gkd1wb09 128 25 , , , cord-032285-gkd1wb09 128 26 2020 2020 CD cord-032285-gkd1wb09 128 27 ) ) -RRB- cord-032285-gkd1wb09 128 28 . . . cord-032285-gkd1wb09 129 1 Haldane Haldane NNP cord-032285-gkd1wb09 129 2 ( ( -LRB- cord-032285-gkd1wb09 129 3 2018 2018 CD cord-032285-gkd1wb09 129 4 ) ) -RRB- cord-032285-gkd1wb09 129 5 shows show VBZ cord-032285-gkd1wb09 129 6 that that DT cord-032285-gkd1wb09 129 7 to to IN cord-032285-gkd1wb09 129 8 an an DT cord-032285-gkd1wb09 129 9 internationally internationally RB cord-032285-gkd1wb09 129 10 unusual unusual JJ cord-032285-gkd1wb09 129 11 extent extent NN cord-032285-gkd1wb09 129 12 , , , cord-032285-gkd1wb09 129 13 technology technology NN cord-032285-gkd1wb09 129 14 and and CC cord-032285-gkd1wb09 129 15 best good JJS cord-032285-gkd1wb09 129 16 practice practice NN cord-032285-gkd1wb09 129 17 have have VBP cord-032285-gkd1wb09 129 18 not not RB cord-032285-gkd1wb09 129 19 diffused diffuse VBN cord-032285-gkd1wb09 129 20 spatially spatially RB cord-032285-gkd1wb09 129 21 across across IN cord-032285-gkd1wb09 129 22 SMEs sme NNS cord-032285-gkd1wb09 129 23 : : : cord-032285-gkd1wb09 130 1 our -PRON- PRP$ cord-032285-gkd1wb09 130 2 innovator innovator NN cord-032285-gkd1wb09 130 3 firms firm NNS cord-032285-gkd1wb09 130 4 , , , cord-032285-gkd1wb09 130 5 evidently evidently RB cord-032285-gkd1wb09 130 6 mainly mainly RB cord-032285-gkd1wb09 130 7 in in IN cord-032285-gkd1wb09 130 8 the the DT cord-032285-gkd1wb09 130 9 south south NNP cord-032285-gkd1wb09 130 10 - - HYPH cord-032285-gkd1wb09 130 11 east east NNP cord-032285-gkd1wb09 130 12 , , , cord-032285-gkd1wb09 130 13 are be VBP cord-032285-gkd1wb09 130 14 ' ' `` cord-032285-gkd1wb09 130 15 hubs hub NNS cord-032285-gkd1wb09 130 16 without without IN cord-032285-gkd1wb09 130 17 spokes spoke NNS cord-032285-gkd1wb09 130 18 ' ' '' cord-032285-gkd1wb09 130 19 . . . cord-032285-gkd1wb09 131 1 McCann McCann NNP cord-032285-gkd1wb09 131 2 ( ( -LRB- cord-032285-gkd1wb09 131 3 2020 2020 CD cord-032285-gkd1wb09 131 4 ) ) -RRB- cord-032285-gkd1wb09 131 5 notes note VBZ cord-032285-gkd1wb09 131 6 that that IN cord-032285-gkd1wb09 131 7 this this DT cord-032285-gkd1wb09 131 8 can can MD cord-032285-gkd1wb09 131 9 not not RB cord-032285-gkd1wb09 131 10 be be VB cord-032285-gkd1wb09 131 11 because because IN cord-032285-gkd1wb09 131 12 of of IN cord-032285-gkd1wb09 131 13 the the DT cord-032285-gkd1wb09 131 14 labour labour NN cord-032285-gkd1wb09 131 15 market market NN cord-032285-gkd1wb09 131 16 , , , cord-032285-gkd1wb09 131 17 since since IN cord-032285-gkd1wb09 131 18 Britain Britain NNP cord-032285-gkd1wb09 131 19 has have VBZ cord-032285-gkd1wb09 131 20 unusually unusually RB cord-032285-gkd1wb09 131 21 high high JJ cord-032285-gkd1wb09 131 22 inter inter JJ cord-032285-gkd1wb09 131 23 - - JJ cord-032285-gkd1wb09 131 24 regional regional JJ cord-032285-gkd1wb09 131 25 labour labour NN cord-032285-gkd1wb09 131 26 mobility mobility NN cord-032285-gkd1wb09 131 27 . . . cord-032285-gkd1wb09 132 1 Our -PRON- PRP$ cord-032285-gkd1wb09 132 2 argument argument NN cord-032285-gkd1wb09 132 3 is be VBZ cord-032285-gkd1wb09 132 4 that that IN cord-032285-gkd1wb09 132 5 one one CD cord-032285-gkd1wb09 132 6 plausible plausible JJ cord-032285-gkd1wb09 132 7 explanation explanation NN cord-032285-gkd1wb09 132 8 for for IN cord-032285-gkd1wb09 132 9 the the DT cord-032285-gkd1wb09 132 10 lack lack NN cord-032285-gkd1wb09 132 11 of of IN cord-032285-gkd1wb09 132 12 spatial spatial JJ cord-032285-gkd1wb09 132 13 diffusion diffusion NN cord-032285-gkd1wb09 132 14 among among IN cord-032285-gkd1wb09 132 15 SMEs sme NNS cord-032285-gkd1wb09 132 16 is be VBZ cord-032285-gkd1wb09 132 17 spatially spatially RB cord-032285-gkd1wb09 132 18 differential differential JJ cord-032285-gkd1wb09 132 19 access access NN cord-032285-gkd1wb09 132 20 to to IN cord-032285-gkd1wb09 132 21 finance finance NN cord-032285-gkd1wb09 132 22 . . . cord-032285-gkd1wb09 133 1 Typically typically RB cord-032285-gkd1wb09 133 2 , , , cord-032285-gkd1wb09 133 3 the the DT cord-032285-gkd1wb09 133 4 most most RBS cord-032285-gkd1wb09 133 5 important important JJ cord-032285-gkd1wb09 133 6 source source NN cord-032285-gkd1wb09 133 7 of of IN cord-032285-gkd1wb09 133 8 bank bank NN cord-032285-gkd1wb09 133 9 finance finance NN cord-032285-gkd1wb09 133 10 for for IN cord-032285-gkd1wb09 133 11 SME SME NNP cord-032285-gkd1wb09 133 12 investment investment NN cord-032285-gkd1wb09 133 13 is be VBZ cord-032285-gkd1wb09 133 14 a a DT cord-032285-gkd1wb09 133 15 loan loan NN cord-032285-gkd1wb09 133 16 secured secure VBN cord-032285-gkd1wb09 133 17 on on IN cord-032285-gkd1wb09 133 18 the the DT cord-032285-gkd1wb09 133 19 value value NN cord-032285-gkd1wb09 133 20 of of IN cord-032285-gkd1wb09 133 21 the the DT cord-032285-gkd1wb09 133 22 owner owner NN cord-032285-gkd1wb09 133 23 's 's POS cord-032285-gkd1wb09 133 24 house house NN cord-032285-gkd1wb09 133 25 . . . cord-032285-gkd1wb09 134 1 Here here RB cord-032285-gkd1wb09 134 2 , , , cord-032285-gkd1wb09 134 3 the the DT cord-032285-gkd1wb09 134 4 extreme extreme JJ cord-032285-gkd1wb09 134 5 divergence divergence NN cord-032285-gkd1wb09 134 6 in in IN cord-032285-gkd1wb09 134 7 house house NN cord-032285-gkd1wb09 134 8 prices price NNS cord-032285-gkd1wb09 134 9 between between IN cord-032285-gkd1wb09 134 10 the the DT cord-032285-gkd1wb09 134 11 south south NNP cord-032285-gkd1wb09 134 12 - - HYPH cord-032285-gkd1wb09 134 13 east east NN cord-032285-gkd1wb09 134 14 and and CC cord-032285-gkd1wb09 134 15 provincial provincial JJ cord-032285-gkd1wb09 134 16 Britain Britain NNP cord-032285-gkd1wb09 134 17 has have VBZ cord-032285-gkd1wb09 134 18 created create VBN cord-032285-gkd1wb09 134 19 major major JJ cord-032285-gkd1wb09 134 20 differences difference NNS cord-032285-gkd1wb09 134 21 in in IN cord-032285-gkd1wb09 134 22 access access NN cord-032285-gkd1wb09 134 23 ( ( -LRB- cord-032285-gkd1wb09 134 24 Henley Henley NNP cord-032285-gkd1wb09 134 25 , , , cord-032285-gkd1wb09 134 26 2020 2020 CD cord-032285-gkd1wb09 134 27 ) ) -RRB- cord-032285-gkd1wb09 134 28 . . . cord-032285-gkd1wb09 135 1 Similarly similarly RB cord-032285-gkd1wb09 135 2 , , , cord-032285-gkd1wb09 135 3 we -PRON- PRP cord-032285-gkd1wb09 135 4 know know VBP cord-032285-gkd1wb09 135 5 that that IN cord-032285-gkd1wb09 135 6 job job NN cord-032285-gkd1wb09 135 7 creation creation NN cord-032285-gkd1wb09 135 8 by by IN cord-032285-gkd1wb09 135 9 an an DT cord-032285-gkd1wb09 135 10 SME SME NNP cord-032285-gkd1wb09 135 11 is be VBZ cord-032285-gkd1wb09 135 12 positively positively RB cord-032285-gkd1wb09 135 13 associated associate VBN cord-032285-gkd1wb09 135 14 with with IN cord-032285-gkd1wb09 135 15 a a DT cord-032285-gkd1wb09 135 16 financial financial JJ cord-032285-gkd1wb09 135 17 inheritance inheritance NN cord-032285-gkd1wb09 135 18 , , , cord-032285-gkd1wb09 135 19 which which WDT cord-032285-gkd1wb09 135 20 is be VBZ cord-032285-gkd1wb09 135 21 consistent consistent JJ cord-032285-gkd1wb09 135 22 with with IN cord-032285-gkd1wb09 135 23 finance finance NN cord-032285-gkd1wb09 135 24 being be VBG cord-032285-gkd1wb09 135 25 a a DT cord-032285-gkd1wb09 135 26 constraint constraint NN cord-032285-gkd1wb09 135 27 , , , cord-032285-gkd1wb09 135 28 and and CC cord-032285-gkd1wb09 135 29 reinforcing reinforce VBG cord-032285-gkd1wb09 135 30 the the DT cord-032285-gkd1wb09 135 31 importance importance NN cord-032285-gkd1wb09 135 32 of of IN cord-032285-gkd1wb09 135 33 the the DT cord-032285-gkd1wb09 135 34 skew skew NN cord-032285-gkd1wb09 135 35 in in IN cord-032285-gkd1wb09 135 36 house house NN cord-032285-gkd1wb09 135 37 prices price NNS cord-032285-gkd1wb09 135 38 . . . cord-032285-gkd1wb09 136 1 Yet yet CC cord-032285-gkd1wb09 136 2 rather rather RB cord-032285-gkd1wb09 136 3 than than IN cord-032285-gkd1wb09 136 4 this this DT cord-032285-gkd1wb09 136 5 skew skew NN cord-032285-gkd1wb09 136 6 in in IN cord-032285-gkd1wb09 136 7 bank bank NN cord-032285-gkd1wb09 136 8 collateral collateral NN cord-032285-gkd1wb09 136 9 being be VBG cord-032285-gkd1wb09 136 10 mitigated mitigate VBN cord-032285-gkd1wb09 136 11 by by IN cord-032285-gkd1wb09 136 12 venture venture NN cord-032285-gkd1wb09 136 13 capital capital NN cord-032285-gkd1wb09 136 14 , , , cord-032285-gkd1wb09 136 15 it -PRON- PRP cord-032285-gkd1wb09 136 16 has have VBZ cord-032285-gkd1wb09 136 17 been be VBN cord-032285-gkd1wb09 136 18 reinforced reinforce VBN cord-032285-gkd1wb09 136 19 . . . cord-032285-gkd1wb09 137 1 The the DT cord-032285-gkd1wb09 137 2 spatial spatial JJ cord-032285-gkd1wb09 137 3 distribution distribution NN cord-032285-gkd1wb09 137 4 of of IN cord-032285-gkd1wb09 137 5 venture venture NN cord-032285-gkd1wb09 137 6 capital capital NN cord-032285-gkd1wb09 137 7 finance finance NN cord-032285-gkd1wb09 137 8 has have VBZ cord-032285-gkd1wb09 137 9 been be VBN cord-032285-gkd1wb09 137 10 highly highly RB cord-032285-gkd1wb09 137 11 skewed skewed JJ cord-032285-gkd1wb09 137 12 to to IN cord-032285-gkd1wb09 137 13 the the DT cord-032285-gkd1wb09 137 14 south south NNP cord-032285-gkd1wb09 137 15 - - HYPH cord-032285-gkd1wb09 137 16 east east NNP cord-032285-gkd1wb09 137 17 , , , cord-032285-gkd1wb09 137 18 which which WDT cord-032285-gkd1wb09 137 19 , , , cord-032285-gkd1wb09 137 20 in in IN cord-032285-gkd1wb09 137 21 the the DT cord-032285-gkd1wb09 137 22 most most RBS cord-032285-gkd1wb09 137 23 recent recent JJ cord-032285-gkd1wb09 137 24 3 3 CD cord-032285-gkd1wb09 137 25 years year NNS cord-032285-gkd1wb09 137 26 for for IN cord-032285-gkd1wb09 137 27 which which WDT cord-032285-gkd1wb09 137 28 data datum NNS cord-032285-gkd1wb09 137 29 are be VBP cord-032285-gkd1wb09 137 30 available available JJ cord-032285-gkd1wb09 137 31 , , , cord-032285-gkd1wb09 137 32 has have VBZ cord-032285-gkd1wb09 137 33 received receive VBN cord-032285-gkd1wb09 137 34 between between IN cord-032285-gkd1wb09 137 35 61 61 CD cord-032285-gkd1wb09 137 36 and and CC cord-032285-gkd1wb09 137 37 77 77 CD cord-032285-gkd1wb09 137 38 per per IN cord-032285-gkd1wb09 137 39 cent cent NN cord-032285-gkd1wb09 137 40 of of IN cord-032285-gkd1wb09 137 41 it -PRON- PRP cord-032285-gkd1wb09 137 42 ( ( -LRB- cord-032285-gkd1wb09 137 43 Mason Mason NNP cord-032285-gkd1wb09 137 44 , , , cord-032285-gkd1wb09 137 45 2020 2020 CD cord-032285-gkd1wb09 137 46 ) ) -RRB- cord-032285-gkd1wb09 137 47 . . . cord-032285-gkd1wb09 138 1 Why why WRB cord-032285-gkd1wb09 138 2 might may MD cord-032285-gkd1wb09 138 3 this this DT cord-032285-gkd1wb09 138 4 be be VB cord-032285-gkd1wb09 138 5 ? ? . cord-032285-gkd1wb09 139 1 Clearly clearly RB cord-032285-gkd1wb09 139 2 one one CD cord-032285-gkd1wb09 139 3 possible possible JJ cord-032285-gkd1wb09 139 4 explanation explanation NN cord-032285-gkd1wb09 139 5 is be VBZ cord-032285-gkd1wb09 139 6 that that IN cord-032285-gkd1wb09 139 7 , , , cord-032285-gkd1wb09 139 8 given give VBN cord-032285-gkd1wb09 139 9 the the DT cord-032285-gkd1wb09 139 10 spatial spatial JJ cord-032285-gkd1wb09 139 11 skew skew NN cord-032285-gkd1wb09 139 12 in in IN cord-032285-gkd1wb09 139 13 productive productive JJ cord-032285-gkd1wb09 139 14 agglomeration agglomeration NN cord-032285-gkd1wb09 139 15 , , , cord-032285-gkd1wb09 139 16 the the DT cord-032285-gkd1wb09 139 17 south south NNP cord-032285-gkd1wb09 139 18 - - HYPH cord-032285-gkd1wb09 139 19 east east NNP cord-032285-gkd1wb09 139 20 is be VBZ cord-032285-gkd1wb09 139 21 where where WRB cord-032285-gkd1wb09 139 22 the the DT cord-032285-gkd1wb09 139 23 opportunities opportunity NNS cord-032285-gkd1wb09 139 24 are be VBP cord-032285-gkd1wb09 139 25 concentrated concentrated JJ cord-032285-gkd1wb09 139 26 . . . cord-032285-gkd1wb09 140 1 This this DT cord-032285-gkd1wb09 140 2 must must MD cord-032285-gkd1wb09 140 3 , , , cord-032285-gkd1wb09 140 4 to to IN cord-032285-gkd1wb09 140 5 an an DT cord-032285-gkd1wb09 140 6 extent extent NN cord-032285-gkd1wb09 140 7 , , , cord-032285-gkd1wb09 140 8 be be VB cord-032285-gkd1wb09 140 9 correct correct JJ cord-032285-gkd1wb09 140 10 and and CC cord-032285-gkd1wb09 140 11 indeed indeed RB cord-032285-gkd1wb09 140 12 contributes contribute VBZ cord-032285-gkd1wb09 140 13 to to IN cord-032285-gkd1wb09 140 14 our -PRON- PRP$ cord-032285-gkd1wb09 140 15 argument argument NN cord-032285-gkd1wb09 140 16 . . . cord-032285-gkd1wb09 141 1 The the DT cord-032285-gkd1wb09 141 2 smaller small JJR cord-032285-gkd1wb09 141 3 size size NN cord-032285-gkd1wb09 141 4 and and CC cord-032285-gkd1wb09 141 5 reduced reduced JJ cord-032285-gkd1wb09 141 6 opportunities opportunity NNS cord-032285-gkd1wb09 141 7 for for IN cord-032285-gkd1wb09 141 8 scale scale NN cord-032285-gkd1wb09 141 9 - - HYPH cord-032285-gkd1wb09 141 10 up up NN cord-032285-gkd1wb09 141 11 in in IN cord-032285-gkd1wb09 141 12 poor poor JJ cord-032285-gkd1wb09 141 13 provincial provincial JJ cord-032285-gkd1wb09 141 14 cities city NNS cord-032285-gkd1wb09 141 15 make make VBP cord-032285-gkd1wb09 141 16 venture venture NN cord-032285-gkd1wb09 141 17 capital capital NN cord-032285-gkd1wb09 141 18 commercially commercially RB cord-032285-gkd1wb09 141 19 unviable unviable JJ cord-032285-gkd1wb09 141 20 and and CC cord-032285-gkd1wb09 141 21 once once IN cord-032285-gkd1wb09 141 22 this this DT cord-032285-gkd1wb09 141 23 happens happen VBZ cord-032285-gkd1wb09 141 24 , , , cord-032285-gkd1wb09 141 25 access access NN cord-032285-gkd1wb09 141 26 for for IN cord-032285-gkd1wb09 141 27 genuine genuine JJ cord-032285-gkd1wb09 141 28 opportunities opportunity NNS cord-032285-gkd1wb09 141 29 is be VBZ cord-032285-gkd1wb09 141 30 lost lose VBN cord-032285-gkd1wb09 141 31 . . . cord-032285-gkd1wb09 142 1 The the DT cord-032285-gkd1wb09 142 2 exceptional exceptional JJ cord-032285-gkd1wb09 142 3 lack lack NN cord-032285-gkd1wb09 142 4 of of IN cord-032285-gkd1wb09 142 5 diffusion diffusion NN cord-032285-gkd1wb09 142 6 noted note VBN cord-032285-gkd1wb09 142 7 by by IN cord-032285-gkd1wb09 142 8 Haldane Haldane NNP cord-032285-gkd1wb09 142 9 suggests suggest VBZ cord-032285-gkd1wb09 142 10 that that IN cord-032285-gkd1wb09 142 11 there there EX cord-032285-gkd1wb09 142 12 must must MD cord-032285-gkd1wb09 142 13 indeed indeed RB cord-032285-gkd1wb09 142 14 be be VB cord-032285-gkd1wb09 142 15 many many JJ cord-032285-gkd1wb09 142 16 opportunities opportunity NNS cord-032285-gkd1wb09 142 17 for for IN cord-032285-gkd1wb09 142 18 productivity productivity NN cord-032285-gkd1wb09 142 19 catch catch NN cord-032285-gkd1wb09 142 20 - - HYPH cord-032285-gkd1wb09 142 21 up up NN cord-032285-gkd1wb09 142 22 for for IN cord-032285-gkd1wb09 142 23 provincial provincial JJ cord-032285-gkd1wb09 142 24 SMEs sme NNS cord-032285-gkd1wb09 142 25 that that WDT cord-032285-gkd1wb09 142 26 are be VBP cord-032285-gkd1wb09 142 27 being be VBG cord-032285-gkd1wb09 142 28 missed miss VBN cord-032285-gkd1wb09 142 29 . . . cord-032285-gkd1wb09 143 1 It -PRON- PRP cord-032285-gkd1wb09 143 2 would would MD cord-032285-gkd1wb09 143 3 be be VB cord-032285-gkd1wb09 143 4 implausible implausible JJ cord-032285-gkd1wb09 143 5 to to TO cord-032285-gkd1wb09 143 6 explain explain VB cord-032285-gkd1wb09 143 7 this this DT cord-032285-gkd1wb09 143 8 by by IN cord-032285-gkd1wb09 143 9 a a DT cord-032285-gkd1wb09 143 10 lack lack NN cord-032285-gkd1wb09 143 11 of of IN cord-032285-gkd1wb09 143 12 entrepreneurial entrepreneurial JJ cord-032285-gkd1wb09 143 13 talent talent NN cord-032285-gkd1wb09 143 14 or or CC cord-032285-gkd1wb09 143 15 animal animal NN cord-032285-gkd1wb09 143 16 spirits spirit NNS cord-032285-gkd1wb09 143 17 : : : cord-032285-gkd1wb09 143 18 historically historically RB cord-032285-gkd1wb09 143 19 such such JJ cord-032285-gkd1wb09 143 20 talent talent NN cord-032285-gkd1wb09 143 21 has have VBZ cord-032285-gkd1wb09 143 22 been be VBN cord-032285-gkd1wb09 143 23 widely widely RB cord-032285-gkd1wb09 143 24 diffused diffuse VBN cord-032285-gkd1wb09 143 25 and and CC cord-032285-gkd1wb09 143 26 until until IN cord-032285-gkd1wb09 143 27 1980 1980 CD cord-032285-gkd1wb09 143 28 the the DT cord-032285-gkd1wb09 143 29 provinces province NNS cord-032285-gkd1wb09 143 30 were be VBD cord-032285-gkd1wb09 143 31 growing grow VBG cord-032285-gkd1wb09 143 32 more more RBR cord-032285-gkd1wb09 143 33 rapidly rapidly RB cord-032285-gkd1wb09 143 34 than than IN cord-032285-gkd1wb09 143 35 London London NNP cord-032285-gkd1wb09 143 36 . . . cord-032285-gkd1wb09 144 1 Our -PRON- PRP$ cord-032285-gkd1wb09 144 2 explanation explanation NN cord-032285-gkd1wb09 144 3 , , , cord-032285-gkd1wb09 144 4 which which WDT cord-032285-gkd1wb09 144 5 builds build VBZ cord-032285-gkd1wb09 144 6 on on IN cord-032285-gkd1wb09 144 7 the the DT cord-032285-gkd1wb09 144 8 larger large JJR cord-032285-gkd1wb09 144 9 agglomeration agglomeration NN cord-032285-gkd1wb09 144 10 problem problem NN cord-032285-gkd1wb09 144 11 , , , cord-032285-gkd1wb09 144 12 is be VBZ cord-032285-gkd1wb09 144 13 that that IN cord-032285-gkd1wb09 144 14 the the DT cord-032285-gkd1wb09 144 15 spatial spatial JJ cord-032285-gkd1wb09 144 16 skew skew NN cord-032285-gkd1wb09 144 17 in in IN cord-032285-gkd1wb09 144 18 the the DT cord-032285-gkd1wb09 144 19 allocation allocation NN cord-032285-gkd1wb09 144 20 of of IN cord-032285-gkd1wb09 144 21 finance finance NN cord-032285-gkd1wb09 144 22 has have VBZ cord-032285-gkd1wb09 144 23 been be VBN cord-032285-gkd1wb09 144 24 compounded compound VBN cord-032285-gkd1wb09 144 25 by by IN cord-032285-gkd1wb09 144 26 the the DT cord-032285-gkd1wb09 144 27 extreme extreme NN cord-032285-gkd1wb09 144 28 , , , cord-032285-gkd1wb09 144 29 and and CC cord-032285-gkd1wb09 144 30 internationally internationally RB cord-032285-gkd1wb09 144 31 exceptional exceptional JJ cord-032285-gkd1wb09 144 32 , , , cord-032285-gkd1wb09 144 33 spatial spatial JJ cord-032285-gkd1wb09 144 34 concentration concentration NN cord-032285-gkd1wb09 144 35 of of IN cord-032285-gkd1wb09 144 36 Britain Britain NNP cord-032285-gkd1wb09 144 37 's 's POS cord-032285-gkd1wb09 144 38 finance finance NN cord-032285-gkd1wb09 144 39 industry industry NN cord-032285-gkd1wb09 144 40 in in IN cord-032285-gkd1wb09 144 41 London London NNP cord-032285-gkd1wb09 144 42 . . . cord-032285-gkd1wb09 145 1 Given give VBN cord-032285-gkd1wb09 145 2 the the DT cord-032285-gkd1wb09 145 3 need need NN cord-032285-gkd1wb09 145 4 of of IN cord-032285-gkd1wb09 145 5 venture venture NN cord-032285-gkd1wb09 145 6 capital capital NN cord-032285-gkd1wb09 145 7 for for IN cord-032285-gkd1wb09 145 8 localized localized JJ cord-032285-gkd1wb09 145 9 tacit tacit JJ cord-032285-gkd1wb09 145 10 knowledge knowledge NN cord-032285-gkd1wb09 145 11 , , , cord-032285-gkd1wb09 145 12 this this DT cord-032285-gkd1wb09 145 13 has have VBZ cord-032285-gkd1wb09 145 14 created create VBN cord-032285-gkd1wb09 145 15 a a DT cord-032285-gkd1wb09 145 16 ' ' `` cord-032285-gkd1wb09 145 17 liability liability NN cord-032285-gkd1wb09 145 18 of of IN cord-032285-gkd1wb09 145 19 distance distance NN cord-032285-gkd1wb09 145 20 ' ' '' cord-032285-gkd1wb09 145 21 problem problem NN cord-032285-gkd1wb09 145 22 in in IN cord-032285-gkd1wb09 145 23 access access NN cord-032285-gkd1wb09 145 24 to to IN cord-032285-gkd1wb09 145 25 finance finance NN cord-032285-gkd1wb09 145 26 ( ( -LRB- cord-032285-gkd1wb09 145 27 Lee Lee NNP cord-032285-gkd1wb09 145 28 and and CC cord-032285-gkd1wb09 145 29 Brown Brown NNP cord-032285-gkd1wb09 145 30 , , , cord-032285-gkd1wb09 145 31 2017 2017 CD cord-032285-gkd1wb09 145 32 ) ) -RRB- cord-032285-gkd1wb09 145 33 . . . cord-032285-gkd1wb09 146 1 It -PRON- PRP cord-032285-gkd1wb09 146 2 is be VBZ cord-032285-gkd1wb09 146 3 thus thus RB cord-032285-gkd1wb09 146 4 consequential consequential JJ cord-032285-gkd1wb09 146 5 both both DT cord-032285-gkd1wb09 146 6 for for IN cord-032285-gkd1wb09 146 7 slowing slow VBG cord-032285-gkd1wb09 146 8 the the DT cord-032285-gkd1wb09 146 9 pace pace NN cord-032285-gkd1wb09 146 10 of of IN cord-032285-gkd1wb09 146 11 post post JJ cord-032285-gkd1wb09 146 12 - - JJ cord-032285-gkd1wb09 146 13 COVID covid JJ cord-032285-gkd1wb09 146 14 recovery recovery NN cord-032285-gkd1wb09 146 15 and and CC cord-032285-gkd1wb09 146 16 impeding impede VBG cord-032285-gkd1wb09 146 17 regional regional JJ cord-032285-gkd1wb09 146 18 convergence convergence NN cord-032285-gkd1wb09 146 19 . . . cord-032285-gkd1wb09 147 1 In in IN cord-032285-gkd1wb09 147 2 a a DT cord-032285-gkd1wb09 147 3 market market NN cord-032285-gkd1wb09 147 4 economy economy NN cord-032285-gkd1wb09 147 5 , , , cord-032285-gkd1wb09 147 6 public public JJ cord-032285-gkd1wb09 147 7 policy policy NN cord-032285-gkd1wb09 147 8 intervenes intervene VBZ cord-032285-gkd1wb09 147 9 to to TO cord-032285-gkd1wb09 147 10 correct correct VB cord-032285-gkd1wb09 147 11 divergences divergence NNS cord-032285-gkd1wb09 147 12 between between IN cord-032285-gkd1wb09 147 13 social social JJ cord-032285-gkd1wb09 147 14 and and CC cord-032285-gkd1wb09 147 15 private private JJ cord-032285-gkd1wb09 147 16 benefits benefit NNS cord-032285-gkd1wb09 147 17 and and CC cord-032285-gkd1wb09 147 18 costs cost NNS cord-032285-gkd1wb09 147 19 . . . cord-032285-gkd1wb09 148 1 In in IN cord-032285-gkd1wb09 148 2 Britain Britain NNP cord-032285-gkd1wb09 148 3 , , , cord-032285-gkd1wb09 148 4 these these DT cord-032285-gkd1wb09 148 5 have have VBP cord-032285-gkd1wb09 148 6 recently recently RB cord-032285-gkd1wb09 148 7 altered alter VBN cord-032285-gkd1wb09 148 8 due due IN cord-032285-gkd1wb09 148 9 to to IN cord-032285-gkd1wb09 148 10 both both CC cord-032285-gkd1wb09 148 11 political political JJ cord-032285-gkd1wb09 148 12 change change NN cord-032285-gkd1wb09 148 13 and and CC cord-032285-gkd1wb09 148 14 COVID COVID NNP cord-032285-gkd1wb09 148 15 . . . cord-032285-gkd1wb09 149 1 In in IN cord-032285-gkd1wb09 149 2 respect respect NN cord-032285-gkd1wb09 149 3 of of IN cord-032285-gkd1wb09 149 4 benefits benefit NNS cord-032285-gkd1wb09 149 5 , , , cord-032285-gkd1wb09 149 6 the the DT cord-032285-gkd1wb09 149 7 social social JJ cord-032285-gkd1wb09 149 8 value value NN cord-032285-gkd1wb09 149 9 of of IN cord-032285-gkd1wb09 149 10 generating generate VBG cord-032285-gkd1wb09 149 11 a a DT cord-032285-gkd1wb09 149 12 new new JJ cord-032285-gkd1wb09 149 13 productive productive JJ cord-032285-gkd1wb09 149 14 job job NN cord-032285-gkd1wb09 149 15 in in IN cord-032285-gkd1wb09 149 16 a a DT cord-032285-gkd1wb09 149 17 poor poor JJ cord-032285-gkd1wb09 149 18 region region NN cord-032285-gkd1wb09 149 19 has have VBZ cord-032285-gkd1wb09 149 20 risen rise VBN cord-032285-gkd1wb09 149 21 considerably considerably RB cord-032285-gkd1wb09 149 22 . . . cord-032285-gkd1wb09 150 1 This this DT cord-032285-gkd1wb09 150 2 is be VBZ cord-032285-gkd1wb09 150 3 partly partly RB cord-032285-gkd1wb09 150 4 because because IN cord-032285-gkd1wb09 150 5 of of IN cord-032285-gkd1wb09 150 6 the the DT cord-032285-gkd1wb09 150 7 new new JJ cord-032285-gkd1wb09 150 8 awareness awareness NN cord-032285-gkd1wb09 150 9 of of IN cord-032285-gkd1wb09 150 10 the the DT cord-032285-gkd1wb09 150 11 extent extent NN cord-032285-gkd1wb09 150 12 of of IN cord-032285-gkd1wb09 150 13 regional regional JJ cord-032285-gkd1wb09 150 14 divergence divergence NN cord-032285-gkd1wb09 150 15 , , , cord-032285-gkd1wb09 150 16 and and CC cord-032285-gkd1wb09 150 17 partly partly RB cord-032285-gkd1wb09 150 18 because because IN cord-032285-gkd1wb09 150 19 COVID COVID NNP cord-032285-gkd1wb09 150 20 has have VBZ cord-032285-gkd1wb09 150 21 created create VBN cord-032285-gkd1wb09 150 22 concerns concern NNS cord-032285-gkd1wb09 150 23 about about IN cord-032285-gkd1wb09 150 24 how how WRB cord-032285-gkd1wb09 150 25 to to TO cord-032285-gkd1wb09 150 26 offset offset VB cord-032285-gkd1wb09 150 27 national national JJ cord-032285-gkd1wb09 150 28 job job NN cord-032285-gkd1wb09 150 29 - - HYPH cord-032285-gkd1wb09 150 30 loss loss NN cord-032285-gkd1wb09 150 31 through through IN cord-032285-gkd1wb09 150 32 SME sme JJ cord-032285-gkd1wb09 150 33 scale scale NN cord-032285-gkd1wb09 150 34 - - HYPH cord-032285-gkd1wb09 150 35 up up NN cord-032285-gkd1wb09 150 36 : : : cord-032285-gkd1wb09 150 37 on on IN cord-032285-gkd1wb09 150 38 recent recent JJ cord-032285-gkd1wb09 150 39 experience experience NN cord-032285-gkd1wb09 150 40 , , , cord-032285-gkd1wb09 150 41 the the DT cord-032285-gkd1wb09 150 42 prospects prospect NNS cord-032285-gkd1wb09 150 43 of of IN cord-032285-gkd1wb09 150 44 such such JJ cord-032285-gkd1wb09 150 45 scale scale NN cord-032285-gkd1wb09 150 46 - - HYPH cord-032285-gkd1wb09 150 47 ups up NNS cord-032285-gkd1wb09 150 48 look look NN cord-032285-gkd1wb09 150 49 to to TO cord-032285-gkd1wb09 150 50 be be VB cord-032285-gkd1wb09 150 51 much much RB cord-032285-gkd1wb09 150 52 worse bad JJR cord-032285-gkd1wb09 150 53 in in IN cord-032285-gkd1wb09 150 54 provincial provincial JJ cord-032285-gkd1wb09 150 55 Britain Britain NNP cord-032285-gkd1wb09 150 56 than than IN cord-032285-gkd1wb09 150 57 the the DT cord-032285-gkd1wb09 150 58 south south NNP cord-032285-gkd1wb09 150 59 - - HYPH cord-032285-gkd1wb09 150 60 east east NNP cord-032285-gkd1wb09 150 61 . . . cord-032285-gkd1wb09 151 1 In in IN cord-032285-gkd1wb09 151 2 respect respect NN cord-032285-gkd1wb09 151 3 of of IN cord-032285-gkd1wb09 151 4 costs cost NNS cord-032285-gkd1wb09 151 5 , , , cord-032285-gkd1wb09 151 6 there there EX cord-032285-gkd1wb09 151 7 are be VBP cord-032285-gkd1wb09 151 8 two two CD cord-032285-gkd1wb09 151 9 important important JJ cord-032285-gkd1wb09 151 10 changes change NNS cord-032285-gkd1wb09 151 11 . . . cord-032285-gkd1wb09 152 1 One one CD cord-032285-gkd1wb09 152 2 concerns concern VBZ cord-032285-gkd1wb09 152 3 the the DT cord-032285-gkd1wb09 152 4 cost cost NN cord-032285-gkd1wb09 152 5 of of IN cord-032285-gkd1wb09 152 6 finance finance NN cord-032285-gkd1wb09 152 7 , , , cord-032285-gkd1wb09 152 8 which which WDT cord-032285-gkd1wb09 152 9 has have VBZ cord-032285-gkd1wb09 152 10 fallen fall VBN cord-032285-gkd1wb09 152 11 for for IN cord-032285-gkd1wb09 152 12 government government NN cord-032285-gkd1wb09 152 13 , , , cord-032285-gkd1wb09 152 14 while while IN cord-032285-gkd1wb09 152 15 becoming become VBG cord-032285-gkd1wb09 152 16 less less RBR cord-032285-gkd1wb09 152 17 available available JJ cord-032285-gkd1wb09 152 18 for for IN cord-032285-gkd1wb09 152 19 provincial provincial JJ cord-032285-gkd1wb09 152 20 SMEs sme NNS cord-032285-gkd1wb09 152 21 so so IN cord-032285-gkd1wb09 152 22 that that IN cord-032285-gkd1wb09 152 23 its -PRON- PRP$ cord-032285-gkd1wb09 152 24 implicit implicit JJ cord-032285-gkd1wb09 152 25 price price NN cord-032285-gkd1wb09 152 26 has have VBZ cord-032285-gkd1wb09 152 27 risen rise VBN cord-032285-gkd1wb09 152 28 . . . cord-032285-gkd1wb09 153 1 The the DT cord-032285-gkd1wb09 153 2 other other JJ cord-032285-gkd1wb09 153 3 concerns concern NNS cord-032285-gkd1wb09 153 4 the the DT cord-032285-gkd1wb09 153 5 cost cost NN cord-032285-gkd1wb09 153 6 of of IN cord-032285-gkd1wb09 153 7 reaching reach VBG cord-032285-gkd1wb09 153 8 the the DT cord-032285-gkd1wb09 153 9 rare rare JJ cord-032285-gkd1wb09 153 10 instances instance NNS cord-032285-gkd1wb09 153 11 in in IN cord-032285-gkd1wb09 153 12 which which WDT cord-032285-gkd1wb09 153 13 provincial provincial JJ cord-032285-gkd1wb09 153 14 SMEs sme NNS cord-032285-gkd1wb09 153 15 have have VBP cord-032285-gkd1wb09 153 16 genuine genuine JJ cord-032285-gkd1wb09 153 17 opportunities opportunity NNS cord-032285-gkd1wb09 153 18 for for IN cord-032285-gkd1wb09 153 19 scale scale NN cord-032285-gkd1wb09 153 20 - - HYPH cord-032285-gkd1wb09 153 21 up up NN cord-032285-gkd1wb09 153 22 . . . cord-032285-gkd1wb09 154 1 The the DT cord-032285-gkd1wb09 154 2 financial financial JJ cord-032285-gkd1wb09 154 3 intermediaries intermediary NNS cord-032285-gkd1wb09 154 4 currently currently RB cord-032285-gkd1wb09 154 5 available available JJ cord-032285-gkd1wb09 154 6 to to IN cord-032285-gkd1wb09 154 7 the the DT cord-032285-gkd1wb09 154 8 government government NN cord-032285-gkd1wb09 154 9 are be VBP cord-032285-gkd1wb09 154 10 the the DT cord-032285-gkd1wb09 154 11 banks bank NNS cord-032285-gkd1wb09 154 12 . . . cord-032285-gkd1wb09 155 1 But but CC cord-032285-gkd1wb09 155 2 as as IN cord-032285-gkd1wb09 155 3 discussed discuss VBN cord-032285-gkd1wb09 155 4 above above RB cord-032285-gkd1wb09 155 5 , , , cord-032285-gkd1wb09 155 6 they -PRON- PRP cord-032285-gkd1wb09 155 7 lack lack VBP cord-032285-gkd1wb09 155 8 the the DT cord-032285-gkd1wb09 155 9 knowledge knowledge NN cord-032285-gkd1wb09 155 10 necessary necessary JJ cord-032285-gkd1wb09 155 11 to to TO cord-032285-gkd1wb09 155 12 identify identify VB cord-032285-gkd1wb09 155 13 such such JJ cord-032285-gkd1wb09 155 14 opportunities opportunity NNS cord-032285-gkd1wb09 155 15 . . . cord-032285-gkd1wb09 156 1 Hence hence RB cord-032285-gkd1wb09 156 2 , , , cord-032285-gkd1wb09 156 3 the the DT cord-032285-gkd1wb09 156 4 only only JJ cord-032285-gkd1wb09 156 5 option option NN cord-032285-gkd1wb09 156 6 currently currently RB cord-032285-gkd1wb09 156 7 available available JJ cord-032285-gkd1wb09 156 8 is be VBZ cord-032285-gkd1wb09 156 9 for for IN cord-032285-gkd1wb09 156 10 the the DT cord-032285-gkd1wb09 156 11 government government NN cord-032285-gkd1wb09 156 12 to to TO cord-032285-gkd1wb09 156 13 fund fund VB cord-032285-gkd1wb09 156 14 all all DT cord-032285-gkd1wb09 156 15 SMEs sme NNS cord-032285-gkd1wb09 156 16 that that WDT cord-032285-gkd1wb09 156 17 want want VBP cord-032285-gkd1wb09 156 18 to to TO cord-032285-gkd1wb09 156 19 borrow borrow VB cord-032285-gkd1wb09 156 20 by by IN cord-032285-gkd1wb09 156 21 guaranteeing guarantee VBG cord-032285-gkd1wb09 156 22 bank bank NN cord-032285-gkd1wb09 156 23 loans loan NNS cord-032285-gkd1wb09 156 24 , , , cord-032285-gkd1wb09 156 25 and and CC cord-032285-gkd1wb09 156 26 letting let VBG cord-032285-gkd1wb09 156 27 the the DT cord-032285-gkd1wb09 156 28 banks bank NNS cord-032285-gkd1wb09 156 29 subsequently subsequently RB cord-032285-gkd1wb09 156 30 foreclose foreclose VB cord-032285-gkd1wb09 156 31 on on IN cord-032285-gkd1wb09 156 32 the the DT cord-032285-gkd1wb09 156 33 many many JJ cord-032285-gkd1wb09 156 34 that that IN cord-032285-gkd1wb09 156 35 , , , cord-032285-gkd1wb09 156 36 due due IN cord-032285-gkd1wb09 156 37 to to IN cord-032285-gkd1wb09 156 38 the the DT cord-032285-gkd1wb09 156 39 structural structural JJ cord-032285-gkd1wb09 156 40 shifts shift NNS cord-032285-gkd1wb09 156 41 generated generate VBN cord-032285-gkd1wb09 156 42 by by IN cord-032285-gkd1wb09 156 43 COVID COVID NNP cord-032285-gkd1wb09 156 44 , , , cord-032285-gkd1wb09 156 45 will will MD cord-032285-gkd1wb09 156 46 not not RB cord-032285-gkd1wb09 156 47 be be VB cord-032285-gkd1wb09 156 48 able able JJ cord-032285-gkd1wb09 156 49 to to TO cord-032285-gkd1wb09 156 50 repay repay VB cord-032285-gkd1wb09 156 51 . . . cord-032285-gkd1wb09 157 1 Understandably understandably RB cord-032285-gkd1wb09 157 2 , , , cord-032285-gkd1wb09 157 3 the the DT cord-032285-gkd1wb09 157 4 banks bank NNS cord-032285-gkd1wb09 157 5 are be VBP cord-032285-gkd1wb09 157 6 reluctant reluctant JJ cord-032285-gkd1wb09 157 7 to to TO cord-032285-gkd1wb09 157 8 play play VB cord-032285-gkd1wb09 157 9 this this DT cord-032285-gkd1wb09 157 10 role role NN cord-032285-gkd1wb09 157 11 , , , cord-032285-gkd1wb09 157 12 which which WDT cord-032285-gkd1wb09 157 13 would would MD cord-032285-gkd1wb09 157 14 damage damage VB cord-032285-gkd1wb09 157 15 their -PRON- PRP$ cord-032285-gkd1wb09 157 16 image image NN cord-032285-gkd1wb09 157 17 , , , cord-032285-gkd1wb09 157 18 and and CC cord-032285-gkd1wb09 157 19 so so RB cord-032285-gkd1wb09 157 20 they -PRON- PRP cord-032285-gkd1wb09 157 21 are be VBP cord-032285-gkd1wb09 157 22 currently currently RB cord-032285-gkd1wb09 157 23 advocating advocate VBG cord-032285-gkd1wb09 157 24 a a DT cord-032285-gkd1wb09 157 25 public public JJ cord-032285-gkd1wb09 157 26 ' ' `` cord-032285-gkd1wb09 157 27 bad bad JJ cord-032285-gkd1wb09 157 28 bank bank NN cord-032285-gkd1wb09 157 29 ' ' '' cord-032285-gkd1wb09 157 30 to to TO cord-032285-gkd1wb09 157 31 which which WDT cord-032285-gkd1wb09 157 32 they -PRON- PRP cord-032285-gkd1wb09 157 33 can can MD cord-032285-gkd1wb09 157 34 pass pass VB cord-032285-gkd1wb09 157 35 such such JJ cord-032285-gkd1wb09 157 36 loans loan NNS cord-032285-gkd1wb09 157 37 . . . cord-032285-gkd1wb09 158 1 The the DT cord-032285-gkd1wb09 158 2 skills skill NNS cord-032285-gkd1wb09 158 3 to to TO cord-032285-gkd1wb09 158 4 identify identify VB cord-032285-gkd1wb09 158 5 SME SME NNP cord-032285-gkd1wb09 158 6 opportunities opportunity NNS cord-032285-gkd1wb09 158 7 , , , cord-032285-gkd1wb09 158 8 to to IN cord-032285-gkd1wb09 158 9 the the DT cord-032285-gkd1wb09 158 10 extent extent NN cord-032285-gkd1wb09 158 11 that that IN cord-032285-gkd1wb09 158 12 they -PRON- PRP cord-032285-gkd1wb09 158 13 exist exist VBP cord-032285-gkd1wb09 158 14 in in IN cord-032285-gkd1wb09 158 15 Britain Britain NNP cord-032285-gkd1wb09 158 16 , , , cord-032285-gkd1wb09 158 17 are be VBP cord-032285-gkd1wb09 158 18 in in IN cord-032285-gkd1wb09 158 19 the the DT cord-032285-gkd1wb09 158 20 venture venture NN cord-032285-gkd1wb09 158 21 capital capital NN cord-032285-gkd1wb09 158 22 industry industry NN cord-032285-gkd1wb09 158 23 , , , cord-032285-gkd1wb09 158 24 but but CC cord-032285-gkd1wb09 158 25 in in IN cord-032285-gkd1wb09 158 26 many many JJ cord-032285-gkd1wb09 158 27 provincial provincial JJ cord-032285-gkd1wb09 158 28 cities city NNS cord-032285-gkd1wb09 158 29 such such PDT cord-032285-gkd1wb09 158 30 an an DT cord-032285-gkd1wb09 158 31 industry industry NN cord-032285-gkd1wb09 158 32 has have VBZ cord-032285-gkd1wb09 158 33 been be VBN cord-032285-gkd1wb09 158 34 commercially commercially RB cord-032285-gkd1wb09 158 35 unviable unviable JJ cord-032285-gkd1wb09 158 36 : : : cord-032285-gkd1wb09 158 37 private private JJ cord-032285-gkd1wb09 158 38 costs cost NNS cord-032285-gkd1wb09 158 39 have have VBP cord-032285-gkd1wb09 158 40 exceeded exceed VBN cord-032285-gkd1wb09 158 41 private private JJ cord-032285-gkd1wb09 158 42 benefits benefit NNS cord-032285-gkd1wb09 158 43 . . . cord-032285-gkd1wb09 159 1 COVID COVID NNP cord-032285-gkd1wb09 159 2 and and CC cord-032285-gkd1wb09 159 3 levelling level VBG cord-032285-gkd1wb09 159 4 up up RP cord-032285-gkd1wb09 159 5 have have VB cord-032285-gkd1wb09 159 6 between between IN cord-032285-gkd1wb09 159 7 them -PRON- PRP cord-032285-gkd1wb09 159 8 created create VBN cord-032285-gkd1wb09 159 9 three three CD cord-032285-gkd1wb09 159 10 wide wide JJ cord-032285-gkd1wb09 159 11 gaps gap NNS cord-032285-gkd1wb09 159 12 between between IN cord-032285-gkd1wb09 159 13 social social JJ cord-032285-gkd1wb09 159 14 and and CC cord-032285-gkd1wb09 159 15 private private JJ cord-032285-gkd1wb09 159 16 costs cost NNS cord-032285-gkd1wb09 159 17 and and CC cord-032285-gkd1wb09 159 18 benefits benefit NNS cord-032285-gkd1wb09 159 19 and and CC cord-032285-gkd1wb09 159 20 that that IN cord-032285-gkd1wb09 159 21 this this DT cord-032285-gkd1wb09 159 22 constitutes constitute VBZ cord-032285-gkd1wb09 159 23 an an DT cord-032285-gkd1wb09 159 24 opportunity opportunity NN cord-032285-gkd1wb09 159 25 for for IN cord-032285-gkd1wb09 159 26 public public JJ cord-032285-gkd1wb09 159 27 policy policy NN cord-032285-gkd1wb09 159 28 . . . cord-032285-gkd1wb09 160 1 The the DT cord-032285-gkd1wb09 160 2 first first JJ cord-032285-gkd1wb09 160 3 is be VBZ cord-032285-gkd1wb09 160 4 between between IN cord-032285-gkd1wb09 160 5 the the DT cord-032285-gkd1wb09 160 6 high high JJ cord-032285-gkd1wb09 160 7 cost cost NN cord-032285-gkd1wb09 160 8 of of IN cord-032285-gkd1wb09 160 9 finance finance NN cord-032285-gkd1wb09 160 10 to to IN cord-032285-gkd1wb09 160 11 a a DT cord-032285-gkd1wb09 160 12 provincial provincial JJ cord-032285-gkd1wb09 160 13 SME SME NNP cord-032285-gkd1wb09 160 14 with with IN cord-032285-gkd1wb09 160 15 a a DT cord-032285-gkd1wb09 160 16 scale scale NN cord-032285-gkd1wb09 160 17 - - HYPH cord-032285-gkd1wb09 160 18 up up RP cord-032285-gkd1wb09 160 19 opportunity opportunity NN cord-032285-gkd1wb09 160 20 , , , cord-032285-gkd1wb09 160 21 and and CC cord-032285-gkd1wb09 160 22 the the DT cord-032285-gkd1wb09 160 23 low low JJ cord-032285-gkd1wb09 160 24 cost cost NN cord-032285-gkd1wb09 160 25 of of IN cord-032285-gkd1wb09 160 26 finance finance NN cord-032285-gkd1wb09 160 27 to to IN cord-032285-gkd1wb09 160 28 the the DT cord-032285-gkd1wb09 160 29 government government NN cord-032285-gkd1wb09 160 30 . . . cord-032285-gkd1wb09 161 1 The the DT cord-032285-gkd1wb09 161 2 second second JJ cord-032285-gkd1wb09 161 3 gap gap NN cord-032285-gkd1wb09 161 4 is be VBZ cord-032285-gkd1wb09 161 5 between between IN cord-032285-gkd1wb09 161 6 the the DT cord-032285-gkd1wb09 161 7 cost cost NN cord-032285-gkd1wb09 161 8 to to IN cord-032285-gkd1wb09 161 9 the the DT cord-032285-gkd1wb09 161 10 venture venture NN cord-032285-gkd1wb09 161 11 capitalist capitalist NN cord-032285-gkd1wb09 161 12 of of IN cord-032285-gkd1wb09 161 13 imperfectly imperfectly RB cord-032285-gkd1wb09 161 14 identifying identify VBG cord-032285-gkd1wb09 161 15 and and CC cord-032285-gkd1wb09 161 16 supporting support VBG cord-032285-gkd1wb09 161 17 such such JJ cord-032285-gkd1wb09 161 18 opportunities opportunity NNS cord-032285-gkd1wb09 161 19 and and CC cord-032285-gkd1wb09 161 20 the the DT cord-032285-gkd1wb09 161 21 vastly vastly RB cord-032285-gkd1wb09 161 22 higher high JJR cord-032285-gkd1wb09 161 23 cost cost NN cord-032285-gkd1wb09 161 24 to to IN cord-032285-gkd1wb09 161 25 government government NN cord-032285-gkd1wb09 161 26 of of IN cord-032285-gkd1wb09 161 27 doing do VBG cord-032285-gkd1wb09 161 28 so so RB cord-032285-gkd1wb09 161 29 through through IN cord-032285-gkd1wb09 161 30 indiscriminate indiscriminate JJ cord-032285-gkd1wb09 161 31 support support NN cord-032285-gkd1wb09 161 32 via via IN cord-032285-gkd1wb09 161 33 the the DT cord-032285-gkd1wb09 161 34 banking banking NN cord-032285-gkd1wb09 161 35 sector sector NN cord-032285-gkd1wb09 161 36 . . . cord-032285-gkd1wb09 162 1 The the DT cord-032285-gkd1wb09 162 2 third third JJ cord-032285-gkd1wb09 162 3 gap gap NN cord-032285-gkd1wb09 162 4 is be VBZ cord-032285-gkd1wb09 162 5 between between IN cord-032285-gkd1wb09 162 6 the the DT cord-032285-gkd1wb09 162 7 benefit benefit NN cord-032285-gkd1wb09 162 8 to to IN cord-032285-gkd1wb09 162 9 government government NN cord-032285-gkd1wb09 162 10 from from IN cord-032285-gkd1wb09 162 11 supporting support VBG cord-032285-gkd1wb09 162 12 such such JJ cord-032285-gkd1wb09 162 13 SME SME NNP cord-032285-gkd1wb09 162 14 opportunities opportunity NNS cord-032285-gkd1wb09 162 15 as as IN cord-032285-gkd1wb09 162 16 could could MD cord-032285-gkd1wb09 162 17 potentially potentially RB cord-032285-gkd1wb09 162 18 be be VB cord-032285-gkd1wb09 162 19 supported support VBN cord-032285-gkd1wb09 162 20 by by IN cord-032285-gkd1wb09 162 21 venture venture NN cord-032285-gkd1wb09 162 22 capital capital NN cord-032285-gkd1wb09 162 23 , , , cord-032285-gkd1wb09 162 24 and and CC cord-032285-gkd1wb09 162 25 the the DT cord-032285-gkd1wb09 162 26 lower low JJR cord-032285-gkd1wb09 162 27 benefit benefit NN cord-032285-gkd1wb09 162 28 to to IN cord-032285-gkd1wb09 162 29 the the DT cord-032285-gkd1wb09 162 30 venture venture NN cord-032285-gkd1wb09 162 31 capitalist capitalist NN cord-032285-gkd1wb09 162 32 of of IN cord-032285-gkd1wb09 162 33 doing do VBG cord-032285-gkd1wb09 162 34 so so RB cord-032285-gkd1wb09 162 35 . . . cord-032285-gkd1wb09 163 1 These these DT cord-032285-gkd1wb09 163 2 three three CD cord-032285-gkd1wb09 163 3 gaps gap NNS cord-032285-gkd1wb09 163 4 constitute constitute VBP cord-032285-gkd1wb09 163 5 an an DT cord-032285-gkd1wb09 163 6 opportunity opportunity NN cord-032285-gkd1wb09 163 7 for for IN cord-032285-gkd1wb09 163 8 public public JJ cord-032285-gkd1wb09 163 9 - - HYPH cord-032285-gkd1wb09 163 10 private private JJ cord-032285-gkd1wb09 163 11 partnership partnership NN cord-032285-gkd1wb09 163 12 that that WDT cord-032285-gkd1wb09 163 13 blends blend VBZ cord-032285-gkd1wb09 163 14 public public JJ cord-032285-gkd1wb09 163 15 purposes purpose NNS cord-032285-gkd1wb09 163 16 with with IN cord-032285-gkd1wb09 163 17 private private JJ cord-032285-gkd1wb09 163 18 capacities capacity NNS cord-032285-gkd1wb09 163 19 . . . cord-032285-gkd1wb09 164 1 Two two CD cord-032285-gkd1wb09 164 2 types type NNS cord-032285-gkd1wb09 164 3 of of IN cord-032285-gkd1wb09 164 4 new new JJ cord-032285-gkd1wb09 164 5 financial financial JJ cord-032285-gkd1wb09 164 6 institution institution NN cord-032285-gkd1wb09 164 7 that that WDT cord-032285-gkd1wb09 164 8 would would MD cord-032285-gkd1wb09 164 9 work work VB cord-032285-gkd1wb09 164 10 together together RB cord-032285-gkd1wb09 164 11 are be VBP cord-032285-gkd1wb09 164 12 needed need VBN cord-032285-gkd1wb09 164 13 : : : cord-032285-gkd1wb09 164 14 one one CD cord-032285-gkd1wb09 164 15 national national JJ cord-032285-gkd1wb09 164 16 , , , cord-032285-gkd1wb09 164 17 the the DT cord-032285-gkd1wb09 164 18 other other JJ cord-032285-gkd1wb09 164 19 local local NN cord-032285-gkd1wb09 164 20 . . . cord-032285-gkd1wb09 165 1 At at IN cord-032285-gkd1wb09 165 2 the the DT cord-032285-gkd1wb09 165 3 national national JJ cord-032285-gkd1wb09 165 4 level level NN cord-032285-gkd1wb09 165 5 what what WP cord-032285-gkd1wb09 165 6 is be VBZ cord-032285-gkd1wb09 165 7 needed need VBN cord-032285-gkd1wb09 165 8 is be VBZ cord-032285-gkd1wb09 165 9 a a DT cord-032285-gkd1wb09 165 10 public public JJ cord-032285-gkd1wb09 165 11 investment investment NN cord-032285-gkd1wb09 165 12 / / SYM cord-032285-gkd1wb09 165 13 development development NN cord-032285-gkd1wb09 165 14 bank bank NN cord-032285-gkd1wb09 165 15 . . . cord-032285-gkd1wb09 166 1 It -PRON- PRP cord-032285-gkd1wb09 166 2 could could MD cord-032285-gkd1wb09 166 3 initially initially RB cord-032285-gkd1wb09 166 4 hold hold VB cord-032285-gkd1wb09 166 5 the the DT cord-032285-gkd1wb09 166 6 claims claim NNS cord-032285-gkd1wb09 166 7 on on IN cord-032285-gkd1wb09 166 8 the the DT cord-032285-gkd1wb09 166 9 companies company NNS cord-032285-gkd1wb09 166 10 currently currently RB cord-032285-gkd1wb09 166 11 funded fund VBN cord-032285-gkd1wb09 166 12 through through IN cord-032285-gkd1wb09 166 13 government government NN cord-032285-gkd1wb09 166 14 COVID COVID NNP cord-032285-gkd1wb09 166 15 loan loan NN cord-032285-gkd1wb09 166 16 schemes scheme NNS cord-032285-gkd1wb09 166 17 , , , cord-032285-gkd1wb09 166 18 but but CC cord-032285-gkd1wb09 166 19 also also RB cord-032285-gkd1wb09 166 20 manage manage VB cord-032285-gkd1wb09 166 21 further further JJ cord-032285-gkd1wb09 166 22 public public JJ cord-032285-gkd1wb09 166 23 resources resource NNS cord-032285-gkd1wb09 166 24 generated generate VBN cord-032285-gkd1wb09 166 25 by by IN cord-032285-gkd1wb09 166 26 government government NN cord-032285-gkd1wb09 166 27 borrowing borrowing NN cord-032285-gkd1wb09 166 28 . . . cord-032285-gkd1wb09 167 1 This this DT cord-032285-gkd1wb09 167 2 would would MD cord-032285-gkd1wb09 167 3 be be VB cord-032285-gkd1wb09 167 4 used use VBN cord-032285-gkd1wb09 167 5 to to TO cord-032285-gkd1wb09 167 6 support support VB cord-032285-gkd1wb09 167 7 public public JJ cord-032285-gkd1wb09 167 8 purposes purpose NNS cord-032285-gkd1wb09 167 9 such such JJ cord-032285-gkd1wb09 167 10 as as IN cord-032285-gkd1wb09 167 11 provincial provincial JJ cord-032285-gkd1wb09 167 12 job job NN cord-032285-gkd1wb09 167 13 creation creation NN cord-032285-gkd1wb09 167 14 and and CC cord-032285-gkd1wb09 167 15 zero zero CD cord-032285-gkd1wb09 167 16 net net JJ cord-032285-gkd1wb09 167 17 emissions emission NNS cord-032285-gkd1wb09 167 18 , , , cord-032285-gkd1wb09 167 19 through through IN cord-032285-gkd1wb09 167 20 the the DT cord-032285-gkd1wb09 167 21 acquisition acquisition NN cord-032285-gkd1wb09 167 22 of of IN cord-032285-gkd1wb09 167 23 equity equity NN cord-032285-gkd1wb09 167 24 and and CC cord-032285-gkd1wb09 167 25 loans loan NNS cord-032285-gkd1wb09 167 26 ( ( -LRB- cord-032285-gkd1wb09 167 27 Besley Besley NNP cord-032285-gkd1wb09 167 28 and and CC cord-032285-gkd1wb09 167 29 Stern Stern NNP cord-032285-gkd1wb09 167 30 , , , cord-032285-gkd1wb09 167 31 2020 2020 CD cord-032285-gkd1wb09 167 32 ) ) -RRB- cord-032285-gkd1wb09 167 33 ) ) -RRB- cord-032285-gkd1wb09 167 34 . . . cord-032285-gkd1wb09 168 1 Our -PRON- PRP$ cord-032285-gkd1wb09 168 2 proposal proposal NN cord-032285-gkd1wb09 168 3 is be VBZ cord-032285-gkd1wb09 168 4 that that IN cord-032285-gkd1wb09 168 5 this this DT cord-032285-gkd1wb09 168 6 new new JJ cord-032285-gkd1wb09 168 7 national national JJ cord-032285-gkd1wb09 168 8 bank bank NN cord-032285-gkd1wb09 168 9 would would MD cord-032285-gkd1wb09 168 10 allocate allocate VB cord-032285-gkd1wb09 168 11 some some DT cord-032285-gkd1wb09 168 12 of of IN cord-032285-gkd1wb09 168 13 this this DT cord-032285-gkd1wb09 168 14 finance finance NN cord-032285-gkd1wb09 168 15 to to IN cord-032285-gkd1wb09 168 16 a a DT cord-032285-gkd1wb09 168 17 second second JJ cord-032285-gkd1wb09 168 18 class class NN cord-032285-gkd1wb09 168 19 of of IN cord-032285-gkd1wb09 168 20 institution institution NN cord-032285-gkd1wb09 168 21 : : : cord-032285-gkd1wb09 168 22 locally locally RB cord-032285-gkd1wb09 168 23 based base VBN cord-032285-gkd1wb09 168 24 venture venture NN cord-032285-gkd1wb09 168 25 capital capital NN cord-032285-gkd1wb09 168 26 teams team NNS cord-032285-gkd1wb09 168 27 , , , cord-032285-gkd1wb09 168 28 which which WDT cord-032285-gkd1wb09 168 29 would would MD cord-032285-gkd1wb09 168 30 be be VB cord-032285-gkd1wb09 168 31 commercial commercial JJ cord-032285-gkd1wb09 168 32 but but CC cord-032285-gkd1wb09 168 33 subject subject JJ cord-032285-gkd1wb09 168 34 to to IN cord-032285-gkd1wb09 168 35 the the DT cord-032285-gkd1wb09 168 36 discipline discipline NN cord-032285-gkd1wb09 168 37 of of IN cord-032285-gkd1wb09 168 38 being be VBG cord-032285-gkd1wb09 168 39 compliant compliant JJ cord-032285-gkd1wb09 168 40 with with IN cord-032285-gkd1wb09 168 41 stated state VBN cord-032285-gkd1wb09 168 42 public public JJ cord-032285-gkd1wb09 168 43 purposes purpose NNS cord-032285-gkd1wb09 168 44 . . . cord-032285-gkd1wb09 169 1 While while IN cord-032285-gkd1wb09 169 2 venture venture NN cord-032285-gkd1wb09 169 3 capital capital NN cord-032285-gkd1wb09 169 4 firms firm NNS cord-032285-gkd1wb09 169 5 are be VBP cord-032285-gkd1wb09 169 6 currently currently RB cord-032285-gkd1wb09 169 7 missing miss VBG cord-032285-gkd1wb09 169 8 in in IN cord-032285-gkd1wb09 169 9 many many JJ cord-032285-gkd1wb09 169 10 provincial provincial JJ cord-032285-gkd1wb09 169 11 cities city NNS cord-032285-gkd1wb09 169 12 , , , cord-032285-gkd1wb09 169 13 the the DT cord-032285-gkd1wb09 169 14 opportunity opportunity NN cord-032285-gkd1wb09 169 15 arises arise VBZ cord-032285-gkd1wb09 169 16 because because IN cord-032285-gkd1wb09 169 17 they -PRON- PRP cord-032285-gkd1wb09 169 18 could could MD cord-032285-gkd1wb09 169 19 now now RB cord-032285-gkd1wb09 169 20 be be VB cord-032285-gkd1wb09 169 21 started start VBN cord-032285-gkd1wb09 169 22 at at IN cord-032285-gkd1wb09 169 23 a a DT cord-032285-gkd1wb09 169 24 scale scale NN cord-032285-gkd1wb09 169 25 of of IN cord-032285-gkd1wb09 169 26 funding funding NN cord-032285-gkd1wb09 169 27 that that WDT cord-032285-gkd1wb09 169 28 could could MD cord-032285-gkd1wb09 169 29 overcome overcome VB cord-032285-gkd1wb09 169 30 the the DT cord-032285-gkd1wb09 169 31 threshold threshold NN cord-032285-gkd1wb09 169 32 problem problem NN cord-032285-gkd1wb09 169 33 , , , cord-032285-gkd1wb09 169 34 and and CC cord-032285-gkd1wb09 169 35 with with IN cord-032285-gkd1wb09 169 36 a a DT cord-032285-gkd1wb09 169 37 low low JJ cord-032285-gkd1wb09 169 38 cost cost NN cord-032285-gkd1wb09 169 39 of of IN cord-032285-gkd1wb09 169 40 public public JJ cord-032285-gkd1wb09 169 41 capital capital NN cord-032285-gkd1wb09 169 42 that that WDT cord-032285-gkd1wb09 169 43 would would MD cord-032285-gkd1wb09 169 44 make make VB cord-032285-gkd1wb09 169 45 even even RB cord-032285-gkd1wb09 169 46 modest modest JJ cord-032285-gkd1wb09 169 47 returns return NNS cord-032285-gkd1wb09 169 48 profitable profitable JJ cord-032285-gkd1wb09 169 49 . . . cord-032285-gkd1wb09 170 1 The the DT cord-032285-gkd1wb09 170 2 national national NNP cord-032285-gkd1wb09 170 3 development development NNP cord-032285-gkd1wb09 170 4 bank bank NNP cord-032285-gkd1wb09 170 5 would would MD cord-032285-gkd1wb09 170 6 channel channel VB cord-032285-gkd1wb09 170 7 public public JJ cord-032285-gkd1wb09 170 8 finance finance NN cord-032285-gkd1wb09 170 9 into into IN cord-032285-gkd1wb09 170 10 them -PRON- PRP cord-032285-gkd1wb09 170 11 , , , cord-032285-gkd1wb09 170 12 and and CC cord-032285-gkd1wb09 170 13 itself -PRON- PRP cord-032285-gkd1wb09 170 14 raise raise VBP cord-032285-gkd1wb09 170 15 further further JJ cord-032285-gkd1wb09 170 16 finance finance NN cord-032285-gkd1wb09 170 17 , , , cord-032285-gkd1wb09 170 18 typically typically RB cord-032285-gkd1wb09 170 19 from from IN cord-032285-gkd1wb09 170 20 large large JJ cord-032285-gkd1wb09 170 21 Impact Impact NNP cord-032285-gkd1wb09 170 22 Investment Investment NNP cord-032285-gkd1wb09 170 23 funds fund NNS cord-032285-gkd1wb09 170 24 . . . cord-032285-gkd1wb09 171 1 Similarly similarly RB cord-032285-gkd1wb09 171 2 , , , cord-032285-gkd1wb09 171 3 the the DT cord-032285-gkd1wb09 171 4 local local JJ cord-032285-gkd1wb09 171 5 venture venture NN cord-032285-gkd1wb09 171 6 capital capital NN cord-032285-gkd1wb09 171 7 enterprises enterprise NNS cord-032285-gkd1wb09 171 8 could could MD cord-032285-gkd1wb09 171 9 supplement supplement VB cord-032285-gkd1wb09 171 10 this this DT cord-032285-gkd1wb09 171 11 public public JJ cord-032285-gkd1wb09 171 12 finance finance NN cord-032285-gkd1wb09 171 13 with with IN cord-032285-gkd1wb09 171 14 money money NN cord-032285-gkd1wb09 171 15 from from IN cord-032285-gkd1wb09 171 16 wealth wealth NN cord-032285-gkd1wb09 171 17 - - HYPH cord-032285-gkd1wb09 171 18 holders holder NNS cord-032285-gkd1wb09 171 19 raised raise VBN cord-032285-gkd1wb09 171 20 on on IN cord-032285-gkd1wb09 171 21 commercial commercial JJ cord-032285-gkd1wb09 171 22 terms term NNS cord-032285-gkd1wb09 171 23 , , , cord-032285-gkd1wb09 171 24 and and CC cord-032285-gkd1wb09 171 25 which which WDT cord-032285-gkd1wb09 171 26 might may MD cord-032285-gkd1wb09 171 27 be be VB cord-032285-gkd1wb09 171 28 particularly particularly RB cord-032285-gkd1wb09 171 29 attractive attractive JJ cord-032285-gkd1wb09 171 30 to to IN cord-032285-gkd1wb09 171 31 the the DT cord-032285-gkd1wb09 171 32 rapidly rapidly RB cord-032285-gkd1wb09 171 33 growing grow VBG cord-032285-gkd1wb09 171 34 number number NN cord-032285-gkd1wb09 171 35 of of IN cord-032285-gkd1wb09 171 36 Impact Impact NNP cord-032285-gkd1wb09 171 37 Investors Investors NNPS cord-032285-gkd1wb09 171 38 . . . cord-032285-gkd1wb09 172 1 Both both DT cord-032285-gkd1wb09 172 2 the the DT cord-032285-gkd1wb09 172 3 staff staff NN cord-032285-gkd1wb09 172 4 of of IN cord-032285-gkd1wb09 172 5 SME SME NNP cord-032285-gkd1wb09 172 6 venture venture NN cord-032285-gkd1wb09 172 7 capital capital NN cord-032285-gkd1wb09 172 8 firms firm NNS cord-032285-gkd1wb09 172 9 , , , cord-032285-gkd1wb09 172 10 and and CC cord-032285-gkd1wb09 172 11 the the DT cord-032285-gkd1wb09 172 12 Impact Impact NNP cord-032285-gkd1wb09 172 13 - - HYPH cord-032285-gkd1wb09 172 14 Investing invest VBG cord-032285-gkd1wb09 172 15 wealth wealth NN cord-032285-gkd1wb09 172 16 - - HYPH cord-032285-gkd1wb09 172 17 holders holder NNS cord-032285-gkd1wb09 172 18 who who WP cord-032285-gkd1wb09 172 19 back back VBP cord-032285-gkd1wb09 172 20 them -PRON- PRP cord-032285-gkd1wb09 172 21 , , , cord-032285-gkd1wb09 172 22 are be VBP cord-032285-gkd1wb09 172 23 typically typically RB cord-032285-gkd1wb09 172 24 motivated motivate VBN cord-032285-gkd1wb09 172 25 both both CC cord-032285-gkd1wb09 172 26 by by IN cord-032285-gkd1wb09 172 27 an an DT cord-032285-gkd1wb09 172 28 intrinsic intrinsic JJ cord-032285-gkd1wb09 172 29 purpose purpose NN cord-032285-gkd1wb09 172 30 to to TO cord-032285-gkd1wb09 172 31 address address VB cord-032285-gkd1wb09 172 32 social social JJ cord-032285-gkd1wb09 172 33 problems problem NNS cord-032285-gkd1wb09 172 34 and and CC cord-032285-gkd1wb09 172 35 the the DT cord-032285-gkd1wb09 172 36 extrinsic extrinsic JJ cord-032285-gkd1wb09 172 37 financial financial JJ cord-032285-gkd1wb09 172 38 benefit benefit NN cord-032285-gkd1wb09 172 39 they -PRON- PRP cord-032285-gkd1wb09 172 40 derive derive VBP cord-032285-gkd1wb09 172 41 from from IN cord-032285-gkd1wb09 172 42 successful successful JJ cord-032285-gkd1wb09 172 43 selection selection NN cord-032285-gkd1wb09 172 44 of of IN cord-032285-gkd1wb09 172 45 SMEs sme NNS cord-032285-gkd1wb09 172 46 : : : cord-032285-gkd1wb09 172 47 public public JJ cord-032285-gkd1wb09 172 48 and and CC cord-032285-gkd1wb09 172 49 private private JJ cord-032285-gkd1wb09 172 50 purposes purpose NNS cord-032285-gkd1wb09 172 51 , , , cord-032285-gkd1wb09 172 52 while while IN cord-032285-gkd1wb09 172 53 not not RB cord-032285-gkd1wb09 172 54 coincident coincident JJ cord-032285-gkd1wb09 172 55 , , , cord-032285-gkd1wb09 172 56 are be VBP cord-032285-gkd1wb09 172 57 not not RB cord-032285-gkd1wb09 172 58 incompatible incompatible JJ cord-032285-gkd1wb09 172 59 . . . cord-032285-gkd1wb09 173 1 Venture venture NN cord-032285-gkd1wb09 173 2 capital capital NN cord-032285-gkd1wb09 173 3 would would MD cord-032285-gkd1wb09 173 4 not not RB cord-032285-gkd1wb09 173 5 be be VB cord-032285-gkd1wb09 173 6 expected expect VBN cord-032285-gkd1wb09 173 7 to to TO cord-032285-gkd1wb09 173 8 bail bail VB cord-032285-gkd1wb09 173 9 out out RP cord-032285-gkd1wb09 173 10 all all DT cord-032285-gkd1wb09 173 11 SMEs sme NNS cord-032285-gkd1wb09 173 12 , , , cord-032285-gkd1wb09 173 13 but but CC cord-032285-gkd1wb09 173 14 rather rather RB cord-032285-gkd1wb09 173 15 to to TO cord-032285-gkd1wb09 173 16 identify identify VB cord-032285-gkd1wb09 173 17 those those DT cord-032285-gkd1wb09 173 18 that that WDT cord-032285-gkd1wb09 173 19 are be VBP cord-032285-gkd1wb09 173 20 commercially commercially RB cord-032285-gkd1wb09 173 21 viable viable JJ cord-032285-gkd1wb09 173 22 and and CC cord-032285-gkd1wb09 173 23 separate separate VB cord-032285-gkd1wb09 173 24 them -PRON- PRP cord-032285-gkd1wb09 173 25 from from IN cord-032285-gkd1wb09 173 26 those those DT cord-032285-gkd1wb09 173 27 that that WDT cord-032285-gkd1wb09 173 28 need need VBP cord-032285-gkd1wb09 173 29 to to TO cord-032285-gkd1wb09 173 30 be be VB cord-032285-gkd1wb09 173 31 put put VBN cord-032285-gkd1wb09 173 32 into into IN cord-032285-gkd1wb09 173 33 insolvency insolvency NN cord-032285-gkd1wb09 173 34 , , , cord-032285-gkd1wb09 173 35 perhaps perhaps RB cord-032285-gkd1wb09 173 36 by by IN cord-032285-gkd1wb09 173 37 passing pass VBG cord-032285-gkd1wb09 173 38 them -PRON- PRP cord-032285-gkd1wb09 173 39 to to IN cord-032285-gkd1wb09 173 40 a a DT cord-032285-gkd1wb09 173 41 ' ' `` cord-032285-gkd1wb09 173 42 bad bad JJ cord-032285-gkd1wb09 173 43 bank bank NN cord-032285-gkd1wb09 173 44 ' ' '' cord-032285-gkd1wb09 173 45 . . . cord-032285-gkd1wb09 174 1 This this DT cord-032285-gkd1wb09 174 2 second second JJ cord-032285-gkd1wb09 174 3 category category NN cord-032285-gkd1wb09 174 4 of of IN cord-032285-gkd1wb09 174 5 institution institution NN cord-032285-gkd1wb09 174 6 is be VBZ cord-032285-gkd1wb09 174 7 not not RB cord-032285-gkd1wb09 174 8 such such PDT cord-032285-gkd1wb09 174 9 a a DT cord-032285-gkd1wb09 174 10 radical radical JJ cord-032285-gkd1wb09 174 11 innovation innovation NN cord-032285-gkd1wb09 174 12 as as IN cord-032285-gkd1wb09 174 13 it -PRON- PRP cord-032285-gkd1wb09 174 14 might may MD cord-032285-gkd1wb09 174 15 seem seem VB cord-032285-gkd1wb09 174 16 . . . cord-032285-gkd1wb09 175 1 They -PRON- PRP cord-032285-gkd1wb09 175 2 would would MD cord-032285-gkd1wb09 175 3 be be VB cord-032285-gkd1wb09 175 4 related relate VBN cord-032285-gkd1wb09 175 5 to to IN cord-032285-gkd1wb09 175 6 what what WP cord-032285-gkd1wb09 175 7 existed exist VBD cord-032285-gkd1wb09 175 8 in in IN cord-032285-gkd1wb09 175 9 the the DT cord-032285-gkd1wb09 175 10 UK UK NNP cord-032285-gkd1wb09 175 11 until until IN cord-032285-gkd1wb09 175 12 1990 1990 CD cord-032285-gkd1wb09 175 13 in in IN cord-032285-gkd1wb09 175 14 the the DT cord-032285-gkd1wb09 175 15 form form NN cord-032285-gkd1wb09 175 16 of of IN cord-032285-gkd1wb09 175 17 3i 3i CD cord-032285-gkd1wb09 175 18 , , , cord-032285-gkd1wb09 175 19 Europe Europe NNP cord-032285-gkd1wb09 175 20 's 's POS cord-032285-gkd1wb09 175 21 most most RBS cord-032285-gkd1wb09 175 22 successful successful JJ cord-032285-gkd1wb09 175 23 venture venture NN cord-032285-gkd1wb09 175 24 capital capital NN cord-032285-gkd1wb09 175 25 firm firm NN cord-032285-gkd1wb09 175 26 , , , cord-032285-gkd1wb09 175 27 and and CC cord-032285-gkd1wb09 175 28 its -PRON- PRP$ cord-032285-gkd1wb09 175 29 precursor precursor NN cord-032285-gkd1wb09 175 30 , , , cord-032285-gkd1wb09 175 31 the the DT cord-032285-gkd1wb09 175 32 Industrial Industrial NNP cord-032285-gkd1wb09 175 33 and and CC cord-032285-gkd1wb09 175 34 Commercial Commercial NNP cord-032285-gkd1wb09 175 35 Finance Finance NNP cord-032285-gkd1wb09 175 36 Corporation Corporation NNP cord-032285-gkd1wb09 175 37 ( ( -LRB- cord-032285-gkd1wb09 175 38 ICFC ICFC NNP cord-032285-gkd1wb09 175 39 ) ) -RRB- cord-032285-gkd1wb09 175 40 . . . cord-032285-gkd1wb09 176 1 ICFC ICFC NNP cord-032285-gkd1wb09 176 2 was be VBD cord-032285-gkd1wb09 176 3 owned own VBN cord-032285-gkd1wb09 176 4 by by IN cord-032285-gkd1wb09 176 5 the the DT cord-032285-gkd1wb09 176 6 UK UK NNP cord-032285-gkd1wb09 176 7 clearing clearing NN cord-032285-gkd1wb09 176 8 banks bank NNS cord-032285-gkd1wb09 176 9 and and CC cord-032285-gkd1wb09 176 10 the the DT cord-032285-gkd1wb09 176 11 Bank Bank NNP cord-032285-gkd1wb09 176 12 of of IN cord-032285-gkd1wb09 176 13 England England NNP cord-032285-gkd1wb09 176 14 and and CC cord-032285-gkd1wb09 176 15 focused focus VBD cord-032285-gkd1wb09 176 16 on on IN cord-032285-gkd1wb09 176 17 the the DT cord-032285-gkd1wb09 176 18 financing financing NN cord-032285-gkd1wb09 176 19 of of IN cord-032285-gkd1wb09 176 20 small small JJ cord-032285-gkd1wb09 176 21 manufacturing manufacturing NN cord-032285-gkd1wb09 176 22 companies company NNS cord-032285-gkd1wb09 176 23 in in IN cord-032285-gkd1wb09 176 24 their -PRON- PRP$ cord-032285-gkd1wb09 176 25 early early JJ cord-032285-gkd1wb09 176 26 stage stage NN cord-032285-gkd1wb09 176 27 of of IN cord-032285-gkd1wb09 176 28 development development NN cord-032285-gkd1wb09 176 29 ( ( -LRB- cord-032285-gkd1wb09 176 30 Coopey Coopey NNP cord-032285-gkd1wb09 176 31 and and CC cord-032285-gkd1wb09 176 32 Clarke Clarke NNP cord-032285-gkd1wb09 176 33 , , , cord-032285-gkd1wb09 176 34 1995 1995 CD cord-032285-gkd1wb09 176 35 ) ) -RRB- cord-032285-gkd1wb09 176 36 . . . cord-032285-gkd1wb09 177 1 It -PRON- PRP cord-032285-gkd1wb09 177 2 often often RB cord-032285-gkd1wb09 177 3 took take VBD cord-032285-gkd1wb09 177 4 equity equity NN cord-032285-gkd1wb09 177 5 stakes stake NNS cord-032285-gkd1wb09 177 6 in in IN cord-032285-gkd1wb09 177 7 firms firm NNS cord-032285-gkd1wb09 177 8 , , , cord-032285-gkd1wb09 177 9 but but CC cord-032285-gkd1wb09 177 10 it -PRON- PRP cord-032285-gkd1wb09 177 11 did do VBD cord-032285-gkd1wb09 177 12 not not RB cord-032285-gkd1wb09 177 13 have have VB cord-032285-gkd1wb09 177 14 direct direct JJ cord-032285-gkd1wb09 177 15 representation representation NN cord-032285-gkd1wb09 177 16 on on IN cord-032285-gkd1wb09 177 17 their -PRON- PRP$ cord-032285-gkd1wb09 177 18 boards board NNS cord-032285-gkd1wb09 177 19 . . . cord-032285-gkd1wb09 178 1 It -PRON- PRP cord-032285-gkd1wb09 178 2 undertook undertake VBD cord-032285-gkd1wb09 178 3 active active JJ cord-032285-gkd1wb09 178 4 screening screening NN cord-032285-gkd1wb09 178 5 and and CC cord-032285-gkd1wb09 178 6 monitoring monitoring NN cord-032285-gkd1wb09 178 7 of of IN cord-032285-gkd1wb09 178 8 borrowers borrower NNS cord-032285-gkd1wb09 178 9 and and CC cord-032285-gkd1wb09 178 10 , , , cord-032285-gkd1wb09 178 11 unusually unusually RB cord-032285-gkd1wb09 178 12 for for IN cord-032285-gkd1wb09 178 13 British british JJ cord-032285-gkd1wb09 178 14 clearing clearing NN cord-032285-gkd1wb09 178 15 banks bank NNS cord-032285-gkd1wb09 178 16 , , , cord-032285-gkd1wb09 178 17 its -PRON- PRP$ cord-032285-gkd1wb09 178 18 loan loan NN cord-032285-gkd1wb09 178 19 officers officer NNS cord-032285-gkd1wb09 178 20 had have VBD cord-032285-gkd1wb09 178 21 a a DT cord-032285-gkd1wb09 178 22 high high JJ cord-032285-gkd1wb09 178 23 degree degree NN cord-032285-gkd1wb09 178 24 of of IN cord-032285-gkd1wb09 178 25 technical technical JJ cord-032285-gkd1wb09 178 26 competence competence NN cord-032285-gkd1wb09 178 27 and and CC cord-032285-gkd1wb09 178 28 commitment commitment NN cord-032285-gkd1wb09 178 29 to to IN cord-032285-gkd1wb09 178 30 long long JJ cord-032285-gkd1wb09 178 31 - - HYPH cord-032285-gkd1wb09 178 32 term term NN cord-032285-gkd1wb09 178 33 lending lending NN cord-032285-gkd1wb09 178 34 . . . cord-032285-gkd1wb09 179 1 It -PRON- PRP cord-032285-gkd1wb09 179 2 developed develop VBD cord-032285-gkd1wb09 179 3 a a DT cord-032285-gkd1wb09 179 4 degree degree NN cord-032285-gkd1wb09 179 5 of of IN cord-032285-gkd1wb09 179 6 industrial industrial JJ cord-032285-gkd1wb09 179 7 expertise expertise NN cord-032285-gkd1wb09 179 8 that that WDT cord-032285-gkd1wb09 179 9 meant mean VBD cord-032285-gkd1wb09 179 10 that that IN cord-032285-gkd1wb09 179 11 it -PRON- PRP cord-032285-gkd1wb09 179 12 could could MD cord-032285-gkd1wb09 179 13 bridge bridge VB cord-032285-gkd1wb09 179 14 the the DT cord-032285-gkd1wb09 179 15 gap gap NN cord-032285-gkd1wb09 179 16 between between IN cord-032285-gkd1wb09 179 17 finance finance NN cord-032285-gkd1wb09 179 18 and and CC cord-032285-gkd1wb09 179 19 business business NN cord-032285-gkd1wb09 179 20 which which WDT cord-032285-gkd1wb09 179 21 emerged emerge VBD cord-032285-gkd1wb09 179 22 when when WRB cord-032285-gkd1wb09 179 23 the the DT cord-032285-gkd1wb09 179 24 British british JJ cord-032285-gkd1wb09 179 25 banking banking NN cord-032285-gkd1wb09 179 26 system system NN cord-032285-gkd1wb09 179 27 lost lose VBD cord-032285-gkd1wb09 179 28 its -PRON- PRP$ cord-032285-gkd1wb09 179 29 local local JJ cord-032285-gkd1wb09 179 30 roots root NNS cord-032285-gkd1wb09 179 31 in in IN cord-032285-gkd1wb09 179 32 the the DT cord-032285-gkd1wb09 179 33 nineteenth nineteenth JJ cord-032285-gkd1wb09 179 34 century century NN cord-032285-gkd1wb09 179 35 . . . cord-032285-gkd1wb09 180 1 ICFC ICFC NNP cord-032285-gkd1wb09 180 2 was be VBD cord-032285-gkd1wb09 180 3 a a DT cord-032285-gkd1wb09 180 4 considerable considerable JJ cord-032285-gkd1wb09 180 5 success success NN cord-032285-gkd1wb09 180 6 . . . cord-032285-gkd1wb09 181 1 Following follow VBG cord-032285-gkd1wb09 181 2 losses loss NNS cord-032285-gkd1wb09 181 3 in in IN cord-032285-gkd1wb09 181 4 its -PRON- PRP$ cord-032285-gkd1wb09 181 5 first first JJ cord-032285-gkd1wb09 181 6 3 3 CD cord-032285-gkd1wb09 181 7 years year NNS cord-032285-gkd1wb09 181 8 to to IN cord-032285-gkd1wb09 181 9 1948 1948 CD cord-032285-gkd1wb09 181 10 , , , cord-032285-gkd1wb09 181 11 it -PRON- PRP cord-032285-gkd1wb09 181 12 made make VBD cord-032285-gkd1wb09 181 13 substantial substantial JJ cord-032285-gkd1wb09 181 14 profits profit NNS cord-032285-gkd1wb09 181 15 thereafter thereafter RB cord-032285-gkd1wb09 181 16 . . . cord-032285-gkd1wb09 182 1 The the DT cord-032285-gkd1wb09 182 2 number number NN cord-032285-gkd1wb09 182 3 of of IN cord-032285-gkd1wb09 182 4 its -PRON- PRP$ cord-032285-gkd1wb09 182 5 investments investment NNS cord-032285-gkd1wb09 182 6 went go VBD cord-032285-gkd1wb09 182 7 up up RP cord-032285-gkd1wb09 182 8 by by IN cord-032285-gkd1wb09 182 9 a a DT cord-032285-gkd1wb09 182 10 factor factor NN cord-032285-gkd1wb09 182 11 of of IN cord-032285-gkd1wb09 182 12 ten ten CD cord-032285-gkd1wb09 182 13 between between IN cord-032285-gkd1wb09 182 14 1954 1954 CD cord-032285-gkd1wb09 182 15 and and CC cord-032285-gkd1wb09 182 16 1984 1984 CD cord-032285-gkd1wb09 182 17 and and CC cord-032285-gkd1wb09 182 18 investments investment NNS cord-032285-gkd1wb09 182 19 by by IN cord-032285-gkd1wb09 182 20 ICFC ICFC NNP cord-032285-gkd1wb09 182 21 were be VBD cord-032285-gkd1wb09 182 22 regarded regard VBN cord-032285-gkd1wb09 182 23 by by IN cord-032285-gkd1wb09 182 24 companies company NNS cord-032285-gkd1wb09 182 25 as as IN cord-032285-gkd1wb09 182 26 a a DT cord-032285-gkd1wb09 182 27 mark mark NN cord-032285-gkd1wb09 182 28 of of IN cord-032285-gkd1wb09 182 29 quality quality NN cord-032285-gkd1wb09 182 30 certification certification NN cord-032285-gkd1wb09 182 31 . . . cord-032285-gkd1wb09 183 1 After after IN cord-032285-gkd1wb09 183 2 it -PRON- PRP cord-032285-gkd1wb09 183 3 was be VBD cord-032285-gkd1wb09 183 4 permitted permit VBN cord-032285-gkd1wb09 183 5 by by IN cord-032285-gkd1wb09 183 6 its -PRON- PRP$ cord-032285-gkd1wb09 183 7 bank bank NN cord-032285-gkd1wb09 183 8 shareholders shareholder NNS cord-032285-gkd1wb09 183 9 in in IN cord-032285-gkd1wb09 183 10 1959 1959 CD cord-032285-gkd1wb09 183 11 to to TO cord-032285-gkd1wb09 183 12 raise raise VB cord-032285-gkd1wb09 183 13 external external JJ cord-032285-gkd1wb09 183 14 funds fund NNS cord-032285-gkd1wb09 183 15 , , , cord-032285-gkd1wb09 183 16 ICFC ICFC NNP cord-032285-gkd1wb09 183 17 expanded expand VBD cord-032285-gkd1wb09 183 18 to to TO cord-032285-gkd1wb09 183 19 become become VB cord-032285-gkd1wb09 183 20 the the DT cord-032285-gkd1wb09 183 21 largest large JJS cord-032285-gkd1wb09 183 22 provider provider NN cord-032285-gkd1wb09 183 23 of of IN cord-032285-gkd1wb09 183 24 growth growth NN cord-032285-gkd1wb09 183 25 capital capital NN cord-032285-gkd1wb09 183 26 for for IN cord-032285-gkd1wb09 183 27 unquoted unquoted JJ cord-032285-gkd1wb09 183 28 companies company NNS cord-032285-gkd1wb09 183 29 in in IN cord-032285-gkd1wb09 183 30 the the DT cord-032285-gkd1wb09 183 31 UK UK NNP cord-032285-gkd1wb09 183 32 . . . cord-032285-gkd1wb09 184 1 In in IN cord-032285-gkd1wb09 184 2 1973 1973 CD cord-032285-gkd1wb09 184 3 ICFC ICFC NNP cord-032285-gkd1wb09 184 4 acquired acquire VBD cord-032285-gkd1wb09 184 5 Finance Finance NNP cord-032285-gkd1wb09 184 6 Corporation Corporation NNP cord-032285-gkd1wb09 184 7 for for IN cord-032285-gkd1wb09 184 8 Industry Industry NNP cord-032285-gkd1wb09 184 9 ( ( -LRB- cord-032285-gkd1wb09 184 10 FFI FFI NNP cord-032285-gkd1wb09 184 11 ) ) -RRB- cord-032285-gkd1wb09 184 12 , , , cord-032285-gkd1wb09 184 13 a a DT cord-032285-gkd1wb09 184 14 sister sister NN cord-032285-gkd1wb09 184 15 company company NN cord-032285-gkd1wb09 184 16 also also RB cord-032285-gkd1wb09 184 17 formed form VBN cord-032285-gkd1wb09 184 18 in in IN cord-032285-gkd1wb09 184 19 1945 1945 CD cord-032285-gkd1wb09 184 20 , , , cord-032285-gkd1wb09 184 21 and and CC cord-032285-gkd1wb09 184 22 in in IN cord-032285-gkd1wb09 184 23 1983 1983 CD cord-032285-gkd1wb09 184 24 the the DT cord-032285-gkd1wb09 184 25 combined combined JJ cord-032285-gkd1wb09 184 26 group group NN cord-032285-gkd1wb09 184 27 was be VBD cord-032285-gkd1wb09 184 28 renamed rename VBN cord-032285-gkd1wb09 184 29 Investors Investors NNP cord-032285-gkd1wb09 184 30 in in IN cord-032285-gkd1wb09 184 31 Industry-3i Industry-3i NNP cord-032285-gkd1wb09 184 32 . . . cord-032285-gkd1wb09 185 1 At at IN cord-032285-gkd1wb09 185 2 that that DT cord-032285-gkd1wb09 185 3 stage stage NN cord-032285-gkd1wb09 185 4 , , , cord-032285-gkd1wb09 185 5 its -PRON- PRP$ cord-032285-gkd1wb09 185 6 investments investment NNS cord-032285-gkd1wb09 185 7 became become VBD cord-032285-gkd1wb09 185 8 focused focused JJ cord-032285-gkd1wb09 185 9 on on IN cord-032285-gkd1wb09 185 10 venture venture NN cord-032285-gkd1wb09 185 11 capital capital NN cord-032285-gkd1wb09 185 12 , , , cord-032285-gkd1wb09 185 13 initially initially RB cord-032285-gkd1wb09 185 14 on on IN cord-032285-gkd1wb09 185 15 start start NN cord-032285-gkd1wb09 185 16 - - HYPH cord-032285-gkd1wb09 185 17 ups up NNS cord-032285-gkd1wb09 185 18 , , , cord-032285-gkd1wb09 185 19 early early JJ cord-032285-gkd1wb09 185 20 - - HYPH cord-032285-gkd1wb09 185 21 stage stage NN cord-032285-gkd1wb09 185 22 and and CC cord-032285-gkd1wb09 185 23 development development NN cord-032285-gkd1wb09 185 24 capital capital NN cord-032285-gkd1wb09 185 25 and and CC cord-032285-gkd1wb09 185 26 , , , cord-032285-gkd1wb09 185 27 by by IN cord-032285-gkd1wb09 185 28 the the DT cord-032285-gkd1wb09 185 29 end end NN cord-032285-gkd1wb09 185 30 of of IN cord-032285-gkd1wb09 185 31 the the DT cord-032285-gkd1wb09 185 32 1980s 1980 NNS cord-032285-gkd1wb09 185 33 , , , cord-032285-gkd1wb09 185 34 it -PRON- PRP cord-032285-gkd1wb09 185 35 became become VBD cord-032285-gkd1wb09 185 36 by by IN cord-032285-gkd1wb09 185 37 far far RB cord-032285-gkd1wb09 185 38 the the DT cord-032285-gkd1wb09 185 39 largest large JJS cord-032285-gkd1wb09 185 40 provider provider NN cord-032285-gkd1wb09 185 41 of of IN cord-032285-gkd1wb09 185 42 venture venture NN cord-032285-gkd1wb09 185 43 capital capital NN cord-032285-gkd1wb09 185 44 in in IN cord-032285-gkd1wb09 185 45 the the DT cord-032285-gkd1wb09 185 46 UK UK NNP cord-032285-gkd1wb09 185 47 . . . cord-032285-gkd1wb09 186 1 The the DT cord-032285-gkd1wb09 186 2 banks bank NNS cord-032285-gkd1wb09 186 3 and and CC cord-032285-gkd1wb09 186 4 the the DT cord-032285-gkd1wb09 186 5 Bank Bank NNP cord-032285-gkd1wb09 186 6 of of IN cord-032285-gkd1wb09 186 7 England England NNP cord-032285-gkd1wb09 186 8 sold sell VBD cord-032285-gkd1wb09 186 9 their -PRON- PRP$ cord-032285-gkd1wb09 186 10 stakes stake NNS cord-032285-gkd1wb09 186 11 in in IN cord-032285-gkd1wb09 186 12 the the DT cord-032285-gkd1wb09 186 13 3i 3i NNP cord-032285-gkd1wb09 186 14 Group Group NNP cord-032285-gkd1wb09 186 15 in in IN cord-032285-gkd1wb09 186 16 1987 1987 CD cord-032285-gkd1wb09 186 17 and and CC cord-032285-gkd1wb09 186 18 in in IN cord-032285-gkd1wb09 186 19 1994 1994 CD cord-032285-gkd1wb09 186 20 the the DT cord-032285-gkd1wb09 186 21 company company NN cord-032285-gkd1wb09 186 22 was be VBD cord-032285-gkd1wb09 186 23 floated float VBN cord-032285-gkd1wb09 186 24 on on IN cord-032285-gkd1wb09 186 25 the the DT cord-032285-gkd1wb09 186 26 London London NNP cord-032285-gkd1wb09 186 27 stock stock NN cord-032285-gkd1wb09 186 28 market market NN cord-032285-gkd1wb09 186 29 with with IN cord-032285-gkd1wb09 186 30 a a DT cord-032285-gkd1wb09 186 31 market market NN cord-032285-gkd1wb09 186 32 capitalization capitalization NN cord-032285-gkd1wb09 186 33 of of IN cord-032285-gkd1wb09 186 34 £ £ $ cord-032285-gkd1wb09 186 35 1.5 1.5 CD cord-032285-gkd1wb09 186 36 billion billion CD cord-032285-gkd1wb09 186 37 . . . cord-032285-gkd1wb09 187 1 Thereafter Thereafter NNP cord-032285-gkd1wb09 187 2 3i 3i CD cord-032285-gkd1wb09 187 3 shifted shift VBD cord-032285-gkd1wb09 187 4 from from IN cord-032285-gkd1wb09 187 5 being be VBG cord-032285-gkd1wb09 187 6 a a DT cord-032285-gkd1wb09 187 7 funder funder NN cord-032285-gkd1wb09 187 8 of of IN cord-032285-gkd1wb09 187 9 SMEs sme NNS cord-032285-gkd1wb09 187 10 and and CC cord-032285-gkd1wb09 187 11 a a DT cord-032285-gkd1wb09 187 12 main main JJ cord-032285-gkd1wb09 187 13 provider provider NN cord-032285-gkd1wb09 187 14 of of IN cord-032285-gkd1wb09 187 15 venture venture NN cord-032285-gkd1wb09 187 16 capital capital NN cord-032285-gkd1wb09 187 17 in in IN cord-032285-gkd1wb09 187 18 Britain Britain NNP cord-032285-gkd1wb09 187 19 to to IN cord-032285-gkd1wb09 187 20 a a DT cord-032285-gkd1wb09 187 21 private private JJ cord-032285-gkd1wb09 187 22 equity equity NN cord-032285-gkd1wb09 187 23 firm firm NN cord-032285-gkd1wb09 187 24 . . . cord-032285-gkd1wb09 188 1 Its -PRON- PRP$ cord-032285-gkd1wb09 188 2 repositioning repositioning NN cord-032285-gkd1wb09 188 3 contributed contribute VBD cord-032285-gkd1wb09 188 4 to to IN cord-032285-gkd1wb09 188 5 the the DT cord-032285-gkd1wb09 188 6 switch switch NN cord-032285-gkd1wb09 188 7 in in IN cord-032285-gkd1wb09 188 8 UK UK NNP cord-032285-gkd1wb09 188 9 venture venture NN cord-032285-gkd1wb09 188 10 capital capital NN cord-032285-gkd1wb09 188 11 from from IN cord-032285-gkd1wb09 188 12 early early JJ cord-032285-gkd1wb09 188 13 stage stage NN cord-032285-gkd1wb09 188 14 in in IN cord-032285-gkd1wb09 188 15 the the DT cord-032285-gkd1wb09 188 16 mid-1980s mid-1980 NNS cord-032285-gkd1wb09 188 17 to to IN cord-032285-gkd1wb09 188 18 management management NN cord-032285-gkd1wb09 188 19 buyouts buyout NNS cord-032285-gkd1wb09 188 20 by by IN cord-032285-gkd1wb09 188 21 the the DT cord-032285-gkd1wb09 188 22 end end NN cord-032285-gkd1wb09 188 23 of of IN cord-032285-gkd1wb09 188 24 the the DT cord-032285-gkd1wb09 188 25 1990s 1990s CD cord-032285-gkd1wb09 188 26 . . . cord-032285-gkd1wb09 189 1 Like like IN cord-032285-gkd1wb09 189 2 the the DT cord-032285-gkd1wb09 189 3 nationalized nationalize VBN cord-032285-gkd1wb09 189 4 industries industry NNS cord-032285-gkd1wb09 189 5 ICFC ICFC NNP cord-032285-gkd1wb09 189 6 had have VBD cord-032285-gkd1wb09 189 7 a a DT cord-032285-gkd1wb09 189 8 public public JJ cord-032285-gkd1wb09 189 9 purpose purpose NN cord-032285-gkd1wb09 189 10 , , , cord-032285-gkd1wb09 189 11 but but CC cord-032285-gkd1wb09 189 12 it -PRON- PRP cord-032285-gkd1wb09 189 13 avoided avoid VBD cord-032285-gkd1wb09 189 14 their -PRON- PRP$ cord-032285-gkd1wb09 189 15 fate fate NN cord-032285-gkd1wb09 189 16 by by IN cord-032285-gkd1wb09 189 17 decentralized decentralized JJ cord-032285-gkd1wb09 189 18 and and CC cord-032285-gkd1wb09 189 19 disciplined disciplined JJ cord-032285-gkd1wb09 189 20 pluralism pluralism NN cord-032285-gkd1wb09 189 21 . . . cord-032285-gkd1wb09 190 1 It -PRON- PRP cord-032285-gkd1wb09 190 2 was be VBD cord-032285-gkd1wb09 190 3 decentralized decentralize VBN cord-032285-gkd1wb09 190 4 through through IN cord-032285-gkd1wb09 190 5 delegating delegate VBG cord-032285-gkd1wb09 190 6 authority authority NN cord-032285-gkd1wb09 190 7 to to IN cord-032285-gkd1wb09 190 8 local local JJ cord-032285-gkd1wb09 190 9 branches branch NNS cord-032285-gkd1wb09 190 10 , , , cord-032285-gkd1wb09 190 11 whose whose WP$ cord-032285-gkd1wb09 190 12 staff staff NN cord-032285-gkd1wb09 190 13 were be VBD cord-032285-gkd1wb09 190 14 knowledgeable knowledgeable JJ cord-032285-gkd1wb09 190 15 about about IN cord-032285-gkd1wb09 190 16 business business NN cord-032285-gkd1wb09 190 17 as as RB cord-032285-gkd1wb09 190 18 well well RB cord-032285-gkd1wb09 190 19 as as IN cord-032285-gkd1wb09 190 20 finance finance NN cord-032285-gkd1wb09 190 21 and and CC cord-032285-gkd1wb09 190 22 were be VBD cord-032285-gkd1wb09 190 23 expected expect VBN cord-032285-gkd1wb09 190 24 to to TO cord-032285-gkd1wb09 190 25 develop develop VB cord-032285-gkd1wb09 190 26 a a DT cord-032285-gkd1wb09 190 27 real real JJ cord-032285-gkd1wb09 190 28 understanding understanding NN cord-032285-gkd1wb09 190 29 of of IN cord-032285-gkd1wb09 190 30 their -PRON- PRP$ cord-032285-gkd1wb09 190 31 client client NN cord-032285-gkd1wb09 190 32 businesses business NNS cord-032285-gkd1wb09 190 33 . . . cord-032285-gkd1wb09 191 1 It -PRON- PRP cord-032285-gkd1wb09 191 2 built build VBD cord-032285-gkd1wb09 191 3 disciplined disciplined JJ cord-032285-gkd1wb09 191 4 pluralism pluralism NN cord-032285-gkd1wb09 191 5 through through IN cord-032285-gkd1wb09 191 6 its -PRON- PRP$ cord-032285-gkd1wb09 191 7 shared share VBN cord-032285-gkd1wb09 191 8 ownership ownership NN cord-032285-gkd1wb09 191 9 between between IN cord-032285-gkd1wb09 191 10 the the DT cord-032285-gkd1wb09 191 11 commercial commercial JJ cord-032285-gkd1wb09 191 12 banks bank NNS cord-032285-gkd1wb09 191 13 and and CC cord-032285-gkd1wb09 191 14 the the DT cord-032285-gkd1wb09 191 15 Bank Bank NNP cord-032285-gkd1wb09 191 16 of of IN cord-032285-gkd1wb09 191 17 England England NNP cord-032285-gkd1wb09 191 18 , , , cord-032285-gkd1wb09 191 19 protecting protect VBG cord-032285-gkd1wb09 191 20 it -PRON- PRP cord-032285-gkd1wb09 191 21 from from IN cord-032285-gkd1wb09 191 22 short short JJ cord-032285-gkd1wb09 191 23 - - HYPH cord-032285-gkd1wb09 191 24 term term NN cord-032285-gkd1wb09 191 25 pressures pressure NNS cord-032285-gkd1wb09 191 26 of of IN cord-032285-gkd1wb09 191 27 markets market NNS cord-032285-gkd1wb09 191 28 and and CC cord-032285-gkd1wb09 191 29 politics politic NNS cord-032285-gkd1wb09 191 30 , , , cord-032285-gkd1wb09 191 31 and and CC cord-032285-gkd1wb09 191 32 it -PRON- PRP cord-032285-gkd1wb09 191 33 remained remain VBD cord-032285-gkd1wb09 191 34 true true JJ cord-032285-gkd1wb09 191 35 to to IN cord-032285-gkd1wb09 191 36 its -PRON- PRP$ cord-032285-gkd1wb09 191 37 purpose purpose NN cord-032285-gkd1wb09 191 38 of of IN cord-032285-gkd1wb09 191 39 achieving achieve VBG cord-032285-gkd1wb09 191 40 commercial commercial JJ cord-032285-gkd1wb09 191 41 success success NN cord-032285-gkd1wb09 191 42 from from IN cord-032285-gkd1wb09 191 43 growing grow VBG cord-032285-gkd1wb09 191 44 with with IN cord-032285-gkd1wb09 191 45 its -PRON- PRP$ cord-032285-gkd1wb09 191 46 borrowers borrower NNS cord-032285-gkd1wb09 191 47 , , , cord-032285-gkd1wb09 191 48 rather rather RB cord-032285-gkd1wb09 191 49 than than IN cord-032285-gkd1wb09 191 50 profiting profit VBG cord-032285-gkd1wb09 191 51 from from IN cord-032285-gkd1wb09 191 52 them -PRON- PRP cord-032285-gkd1wb09 191 53 . . . cord-032285-gkd1wb09 192 1 What what WP cord-032285-gkd1wb09 192 2 is be VBZ cord-032285-gkd1wb09 192 3 required require VBN cord-032285-gkd1wb09 192 4 going go VBG cord-032285-gkd1wb09 192 5 forward forward RB cord-032285-gkd1wb09 192 6 are be VBP cord-032285-gkd1wb09 192 7 several several JJ cord-032285-gkd1wb09 192 8 independent independent JJ cord-032285-gkd1wb09 192 9 organizations organization NNS cord-032285-gkd1wb09 192 10 of of IN cord-032285-gkd1wb09 192 11 this this DT cord-032285-gkd1wb09 192 12 second second JJ cord-032285-gkd1wb09 192 13 type type NN cord-032285-gkd1wb09 192 14 generating generate VBG cord-032285-gkd1wb09 192 15 some some DT cord-032285-gkd1wb09 192 16 competition competition NN cord-032285-gkd1wb09 192 17 between between IN cord-032285-gkd1wb09 192 18 them -PRON- PRP cord-032285-gkd1wb09 192 19 to to TO cord-032285-gkd1wb09 192 20 enable enable VB cord-032285-gkd1wb09 192 21 benchmarking benchmarking NN cord-032285-gkd1wb09 192 22 and and CC cord-032285-gkd1wb09 192 23 reducing reduce VBG cord-032285-gkd1wb09 192 24 the the DT cord-032285-gkd1wb09 192 25 rent rent NN cord-032285-gkd1wb09 192 26 - - HYPH cord-032285-gkd1wb09 192 27 capture capture NN cord-032285-gkd1wb09 192 28 highlighted highlight VBN cord-032285-gkd1wb09 192 29 by by IN cord-032285-gkd1wb09 192 30 Akerlof Akerlof NNP cord-032285-gkd1wb09 192 31 and and CC cord-032285-gkd1wb09 192 32 Holden Holden NNP cord-032285-gkd1wb09 192 33 ( ( -LRB- cord-032285-gkd1wb09 192 34 2016 2016 CD cord-032285-gkd1wb09 192 35 ) ) -RRB- cord-032285-gkd1wb09 192 36 . . . cord-032285-gkd1wb09 193 1 As as IN cord-032285-gkd1wb09 193 2 a a DT cord-032285-gkd1wb09 193 3 major major JJ cord-032285-gkd1wb09 193 4 investor investor NN cord-032285-gkd1wb09 193 5 in in IN cord-032285-gkd1wb09 193 6 these these DT cord-032285-gkd1wb09 193 7 institutions institution NNS cord-032285-gkd1wb09 193 8 , , , cord-032285-gkd1wb09 193 9 the the DT cord-032285-gkd1wb09 193 10 national national NNP cord-032285-gkd1wb09 193 11 development development NNP cord-032285-gkd1wb09 193 12 bank bank NNP cord-032285-gkd1wb09 193 13 should should MD cord-032285-gkd1wb09 193 14 play play VB cord-032285-gkd1wb09 193 15 an an DT cord-032285-gkd1wb09 193 16 active active JJ cord-032285-gkd1wb09 193 17 role role NN cord-032285-gkd1wb09 193 18 in in IN cord-032285-gkd1wb09 193 19 ensuring ensure VBG cord-032285-gkd1wb09 193 20 that that IN cord-032285-gkd1wb09 193 21 their -PRON- PRP$ cord-032285-gkd1wb09 193 22 purposes purpose NNS cord-032285-gkd1wb09 193 23 and and CC cord-032285-gkd1wb09 193 24 values value NNS cord-032285-gkd1wb09 193 25 align align VBP cord-032285-gkd1wb09 193 26 with with IN cord-032285-gkd1wb09 193 27 the the DT cord-032285-gkd1wb09 193 28 objective objective NN cord-032285-gkd1wb09 193 29 of of IN cord-032285-gkd1wb09 193 30 promoting promote VBG cord-032285-gkd1wb09 193 31 long long JJ cord-032285-gkd1wb09 193 32 - - HYPH cord-032285-gkd1wb09 193 33 term term NN cord-032285-gkd1wb09 193 34 , , , cord-032285-gkd1wb09 193 35 patient patient JJ cord-032285-gkd1wb09 193 36 , , , cord-032285-gkd1wb09 193 37 risk risk NN cord-032285-gkd1wb09 193 38 - - HYPH cord-032285-gkd1wb09 193 39 taking take VBG cord-032285-gkd1wb09 193 40 investment investment NN cord-032285-gkd1wb09 193 41 in in IN cord-032285-gkd1wb09 193 42 regional regional RB cord-032285-gkd1wb09 193 43 - - HYPH cord-032285-gkd1wb09 193 44 based base VBN cord-032285-gkd1wb09 193 45 SMEs sme NNS cord-032285-gkd1wb09 193 46 . . . cord-032285-gkd1wb09 194 1 Such such JJ cord-032285-gkd1wb09 194 2 national national JJ cord-032285-gkd1wb09 194 3 3i 3i CD cord-032285-gkd1wb09 194 4 - - HYPH cord-032285-gkd1wb09 194 5 type type NN cord-032285-gkd1wb09 194 6 organizations organization NNS cord-032285-gkd1wb09 194 7 in in IN cord-032285-gkd1wb09 194 8 which which WDT cord-032285-gkd1wb09 194 9 the the DT cord-032285-gkd1wb09 194 10 power power NN cord-032285-gkd1wb09 194 11 of of IN cord-032285-gkd1wb09 194 12 decision decision NN cord-032285-gkd1wb09 194 13 is be VBZ cord-032285-gkd1wb09 194 14 decentralized decentralize VBN cord-032285-gkd1wb09 194 15 to to IN cord-032285-gkd1wb09 194 16 local local JJ cord-032285-gkd1wb09 194 17 branches branch NNS cord-032285-gkd1wb09 194 18 could could MD cord-032285-gkd1wb09 194 19 operate operate VB cord-032285-gkd1wb09 194 20 in in IN cord-032285-gkd1wb09 194 21 parallel parallel NN cord-032285-gkd1wb09 194 22 with with IN cord-032285-gkd1wb09 194 23 independent independent JJ cord-032285-gkd1wb09 194 24 commercial commercial JJ cord-032285-gkd1wb09 194 25 venture venture NN cord-032285-gkd1wb09 194 26 capital capital NN cord-032285-gkd1wb09 194 27 on on IN cord-032285-gkd1wb09 194 28 a a DT cord-032285-gkd1wb09 194 29 level level JJ cord-032285-gkd1wb09 194 30 playing playing NN cord-032285-gkd1wb09 194 31 field field NN cord-032285-gkd1wb09 194 32 since since IN cord-032285-gkd1wb09 194 33 the the DT cord-032285-gkd1wb09 194 34 latter latter JJ cord-032285-gkd1wb09 194 35 would would MD cord-032285-gkd1wb09 194 36 be be VB cord-032285-gkd1wb09 194 37 eligible eligible JJ cord-032285-gkd1wb09 194 38 for for IN cord-032285-gkd1wb09 194 39 public public JJ cord-032285-gkd1wb09 194 40 funds fund NNS cord-032285-gkd1wb09 194 41 and and CC cord-032285-gkd1wb09 194 42 be be VB cord-032285-gkd1wb09 194 43 subject subject JJ cord-032285-gkd1wb09 194 44 to to IN cord-032285-gkd1wb09 194 45 the the DT cord-032285-gkd1wb09 194 46 same same JJ cord-032285-gkd1wb09 194 47 clearly clearly RB cord-032285-gkd1wb09 194 48 specified specify VBN cord-032285-gkd1wb09 194 49 purposes purpose NNS cord-032285-gkd1wb09 194 50 , , , cord-032285-gkd1wb09 194 51 monitored monitor VBN cord-032285-gkd1wb09 194 52 by by IN cord-032285-gkd1wb09 194 53 the the DT cord-032285-gkd1wb09 194 54 national national NNP cord-032285-gkd1wb09 194 55 development development NNP cord-032285-gkd1wb09 194 56 bank bank NNP cord-032285-gkd1wb09 194 57 . . . cord-032285-gkd1wb09 195 1 This this DT cord-032285-gkd1wb09 195 2 type type NN cord-032285-gkd1wb09 195 3 of of IN cord-032285-gkd1wb09 195 4 organizational organizational JJ cord-032285-gkd1wb09 195 5 design design NN cord-032285-gkd1wb09 195 6 of of IN cord-032285-gkd1wb09 195 7 competition competition NN cord-032285-gkd1wb09 195 8 within within IN cord-032285-gkd1wb09 195 9 common common JJ cord-032285-gkd1wb09 195 10 purposes purpose NNS cord-032285-gkd1wb09 195 11 is be VBZ cord-032285-gkd1wb09 195 12 increasingly increasingly RB cord-032285-gkd1wb09 195 13 being be VBG cord-032285-gkd1wb09 195 14 used use VBN cord-032285-gkd1wb09 195 15 in in IN cord-032285-gkd1wb09 195 16 the the DT cord-032285-gkd1wb09 195 17 corporate corporate JJ cord-032285-gkd1wb09 195 18 context context NN cord-032285-gkd1wb09 195 19 ( ( -LRB- cord-032285-gkd1wb09 195 20 Mayer Mayer NNP cord-032285-gkd1wb09 195 21 and and CC cord-032285-gkd1wb09 195 22 Roche Roche NNP cord-032285-gkd1wb09 195 23 , , , cord-032285-gkd1wb09 195 24 2020 2020 CD cord-032285-gkd1wb09 195 25 ) ) -RRB- cord-032285-gkd1wb09 195 26 . . . cord-032285-gkd1wb09 196 1 In in IN cord-032285-gkd1wb09 196 2 this this DT cord-032285-gkd1wb09 196 3 paper paper NN cord-032285-gkd1wb09 196 4 we -PRON- PRP cord-032285-gkd1wb09 196 5 have have VBP cord-032285-gkd1wb09 196 6 proposed propose VBN cord-032285-gkd1wb09 196 7 a a DT cord-032285-gkd1wb09 196 8 new new JJ cord-032285-gkd1wb09 196 9 strategy strategy NN cord-032285-gkd1wb09 196 10 for for IN cord-032285-gkd1wb09 196 11 the the DT cord-032285-gkd1wb09 196 12 provision provision NN cord-032285-gkd1wb09 196 13 of of IN cord-032285-gkd1wb09 196 14 risk risk NN cord-032285-gkd1wb09 196 15 - - HYPH cord-032285-gkd1wb09 196 16 capital capital NN cord-032285-gkd1wb09 196 17 to to IN cord-032285-gkd1wb09 196 18 provincial provincial JJ cord-032285-gkd1wb09 196 19 SMEs sme NNS cord-032285-gkd1wb09 196 20 that that WDT cord-032285-gkd1wb09 196 21 would would MD cord-032285-gkd1wb09 196 22 help help VB cord-032285-gkd1wb09 196 23 both both DT cord-032285-gkd1wb09 196 24 to to TO cord-032285-gkd1wb09 196 25 offset offset VB cord-032285-gkd1wb09 196 26 the the DT cord-032285-gkd1wb09 196 27 job job NN cord-032285-gkd1wb09 196 28 losses loss NNS cord-032285-gkd1wb09 196 29 likely likely RB cord-032285-gkd1wb09 196 30 from from IN cord-032285-gkd1wb09 196 31 COVID COVID NNP cord-032285-gkd1wb09 196 32 , , , cord-032285-gkd1wb09 196 33 and and CC cord-032285-gkd1wb09 196 34 to to TO cord-032285-gkd1wb09 196 35 reduce reduce VB cord-032285-gkd1wb09 196 36 the the DT cord-032285-gkd1wb09 196 37 current current JJ cord-032285-gkd1wb09 196 38 extreme extreme JJ cord-032285-gkd1wb09 196 39 regional regional JJ cord-032285-gkd1wb09 196 40 economic economic JJ cord-032285-gkd1wb09 196 41 imbalance imbalance NN cord-032285-gkd1wb09 196 42 . . . cord-032285-gkd1wb09 197 1 SME SME NNP cord-032285-gkd1wb09 197 2 investment investment NN cord-032285-gkd1wb09 197 3 is be VBZ cord-032285-gkd1wb09 197 4 distinctive distinctive JJ cord-032285-gkd1wb09 197 5 in in IN cord-032285-gkd1wb09 197 6 motivation motivation NN cord-032285-gkd1wb09 197 7 , , , cord-032285-gkd1wb09 197 8 constraints constraint NNS cord-032285-gkd1wb09 197 9 , , , cord-032285-gkd1wb09 197 10 and and CC cord-032285-gkd1wb09 197 11 social social JJ cord-032285-gkd1wb09 197 12 value value NN cord-032285-gkd1wb09 197 13 , , , cord-032285-gkd1wb09 197 14 and and CC cord-032285-gkd1wb09 197 15 its -PRON- PRP$ cord-032285-gkd1wb09 197 16 distinctive distinctive JJ cord-032285-gkd1wb09 197 17 motivation motivation NN cord-032285-gkd1wb09 197 18 is be VBZ cord-032285-gkd1wb09 197 19 potentially potentially RB cord-032285-gkd1wb09 197 20 helpful helpful JJ cord-032285-gkd1wb09 197 21 during during IN cord-032285-gkd1wb09 197 22 COVID COVID NNP cord-032285-gkd1wb09 197 23 . . . cord-032285-gkd1wb09 198 1 Most Most JJS cord-032285-gkd1wb09 198 2 SMEs sme NNS cord-032285-gkd1wb09 198 3 are be VBP cord-032285-gkd1wb09 198 4 run run VBN cord-032285-gkd1wb09 198 5 by by IN cord-032285-gkd1wb09 198 6 founder founder NN cord-032285-gkd1wb09 198 7 - - : cord-032285-gkd1wb09 198 8 entrepreneurs entrepreneur NNS cord-032285-gkd1wb09 198 9 whose whose WP$ cord-032285-gkd1wb09 198 10 ' ' `` cord-032285-gkd1wb09 198 11 animal animal NN cord-032285-gkd1wb09 198 12 spirits spirit NNS cord-032285-gkd1wb09 198 13 ' ' '' cord-032285-gkd1wb09 198 14 can can MD cord-032285-gkd1wb09 198 15 potentially potentially RB cord-032285-gkd1wb09 198 16 overcome overcome VB cord-032285-gkd1wb09 198 17 the the DT cord-032285-gkd1wb09 198 18 uncertainty uncertainty NN cord-032285-gkd1wb09 198 19 - - HYPH cord-032285-gkd1wb09 198 20 aversion aversion NN cord-032285-gkd1wb09 198 21 that that WDT cord-032285-gkd1wb09 198 22 inhibits inhibit VBZ cord-032285-gkd1wb09 198 23 investment investment NN cord-032285-gkd1wb09 198 24 within within IN cord-032285-gkd1wb09 198 25 the the DT cord-032285-gkd1wb09 198 26 more more RBR cord-032285-gkd1wb09 198 27 formalized formalize VBN cord-032285-gkd1wb09 198 28 decision decision NN cord-032285-gkd1wb09 198 29 processes process NNS cord-032285-gkd1wb09 198 30 of of IN cord-032285-gkd1wb09 198 31 larger large JJR cord-032285-gkd1wb09 198 32 firms firm NNS cord-032285-gkd1wb09 198 33 . . . cord-032285-gkd1wb09 199 1 Since since IN cord-032285-gkd1wb09 199 2 , , , cord-032285-gkd1wb09 199 3 per per IN cord-032285-gkd1wb09 199 4 unit unit NN cord-032285-gkd1wb09 199 5 of of IN cord-032285-gkd1wb09 199 6 investment investment NN cord-032285-gkd1wb09 199 7 , , , cord-032285-gkd1wb09 199 8 they -PRON- PRP cord-032285-gkd1wb09 199 9 are be VBP cord-032285-gkd1wb09 199 10 also also RB cord-032285-gkd1wb09 199 11 likely likely JJ cord-032285-gkd1wb09 199 12 to to TO cord-032285-gkd1wb09 199 13 be be VB cord-032285-gkd1wb09 199 14 more more JJR cord-032285-gkd1wb09 199 15 labour labour NN cord-032285-gkd1wb09 199 16 - - HYPH cord-032285-gkd1wb09 199 17 intensive intensive JJ cord-032285-gkd1wb09 199 18 , , , cord-032285-gkd1wb09 199 19 they -PRON- PRP cord-032285-gkd1wb09 199 20 are be VBP cord-032285-gkd1wb09 199 21 also also RB cord-032285-gkd1wb09 199 22 distinctively distinctively RB cord-032285-gkd1wb09 199 23 valuable valuable JJ cord-032285-gkd1wb09 199 24 for for IN cord-032285-gkd1wb09 199 25 social social JJ cord-032285-gkd1wb09 199 26 purposes purpose NNS cord-032285-gkd1wb09 199 27 . . . cord-032285-gkd1wb09 200 1 But but CC cord-032285-gkd1wb09 200 2 the the DT cord-032285-gkd1wb09 200 3 distinctive distinctive JJ cord-032285-gkd1wb09 200 4 constraints constraint NNS cord-032285-gkd1wb09 200 5 on on IN cord-032285-gkd1wb09 200 6 investment investment NN cord-032285-gkd1wb09 200 7 finance finance NN cord-032285-gkd1wb09 200 8 facing face VBG cord-032285-gkd1wb09 200 9 SMEs sme NNS cord-032285-gkd1wb09 200 10 are be VBP cord-032285-gkd1wb09 200 11 an an DT cord-032285-gkd1wb09 200 12 impediment impediment NN cord-032285-gkd1wb09 200 13 , , , cord-032285-gkd1wb09 200 14 and and CC cord-032285-gkd1wb09 200 15 provincial provincial JJ cord-032285-gkd1wb09 200 16 SMEs sme NNS cord-032285-gkd1wb09 200 17 are be VBP cord-032285-gkd1wb09 200 18 particularly particularly RB cord-032285-gkd1wb09 200 19 disadvantaged disadvantaged JJ cord-032285-gkd1wb09 200 20 . . . cord-032285-gkd1wb09 201 1 They -PRON- PRP cord-032285-gkd1wb09 201 2 are be VBP cord-032285-gkd1wb09 201 3 often often RB cord-032285-gkd1wb09 201 4 in in IN cord-032285-gkd1wb09 201 5 areas area NNS cord-032285-gkd1wb09 201 6 of of IN cord-032285-gkd1wb09 201 7 low low JJ cord-032285-gkd1wb09 201 8 house house NN cord-032285-gkd1wb09 201 9 prices price NNS cord-032285-gkd1wb09 201 10 and and CC cord-032285-gkd1wb09 201 11 distant distant JJ cord-032285-gkd1wb09 201 12 from from IN cord-032285-gkd1wb09 201 13 the the DT cord-032285-gkd1wb09 201 14 headquarters headquarters NN cord-032285-gkd1wb09 201 15 of of IN cord-032285-gkd1wb09 201 16 financial financial JJ cord-032285-gkd1wb09 201 17 institutions institution NNS cord-032285-gkd1wb09 201 18 which which WDT cord-032285-gkd1wb09 201 19 therefore therefore RB cord-032285-gkd1wb09 201 20 lack lack VBP cord-032285-gkd1wb09 201 21 local local JJ cord-032285-gkd1wb09 201 22 tacit tacit JJ cord-032285-gkd1wb09 201 23 knowledge knowledge NN cord-032285-gkd1wb09 201 24 needed need VBN cord-032285-gkd1wb09 201 25 for for IN cord-032285-gkd1wb09 201 26 venture venture NN cord-032285-gkd1wb09 201 27 capital capital NN cord-032285-gkd1wb09 201 28 . . . cord-032285-gkd1wb09 202 1 Our -PRON- PRP$ cord-032285-gkd1wb09 202 2 proposed propose VBN cord-032285-gkd1wb09 202 3 solution solution NN cord-032285-gkd1wb09 202 4 has have VBZ cord-032285-gkd1wb09 202 5 been be VBN cord-032285-gkd1wb09 202 6 to to TO cord-032285-gkd1wb09 202 7 deploy deploy VB cord-032285-gkd1wb09 202 8 central central JJ cord-032285-gkd1wb09 202 9 government government NN cord-032285-gkd1wb09 202 10 funding funding NN cord-032285-gkd1wb09 202 11 into into IN cord-032285-gkd1wb09 202 12 devolved devolved JJ cord-032285-gkd1wb09 202 13 private private JJ cord-032285-gkd1wb09 202 14 risk risk NN cord-032285-gkd1wb09 202 15 - - HYPH cord-032285-gkd1wb09 202 16 bearing bear VBG cord-032285-gkd1wb09 202 17 capital capital NN cord-032285-gkd1wb09 202 18 that that WDT cord-032285-gkd1wb09 202 19 is be VBZ cord-032285-gkd1wb09 202 20 invested invest VBN cord-032285-gkd1wb09 202 21 for for IN cord-032285-gkd1wb09 202 22 a a DT cord-032285-gkd1wb09 202 23 public public JJ cord-032285-gkd1wb09 202 24 purpose purpose NN cord-032285-gkd1wb09 202 25 compatible compatible JJ cord-032285-gkd1wb09 202 26 with with IN cord-032285-gkd1wb09 202 27 , , , cord-032285-gkd1wb09 202 28 though though IN cord-032285-gkd1wb09 202 29 not not RB cord-032285-gkd1wb09 202 30 identical identical JJ cord-032285-gkd1wb09 202 31 to to IN cord-032285-gkd1wb09 202 32 , , , cord-032285-gkd1wb09 202 33 the the DT cord-032285-gkd1wb09 202 34 private private JJ cord-032285-gkd1wb09 202 35 interest interest NN cord-032285-gkd1wb09 202 36 of of IN cord-032285-gkd1wb09 202 37 a a DT cord-032285-gkd1wb09 202 38 venture venture NN cord-032285-gkd1wb09 202 39 capitalist capitalist NN cord-032285-gkd1wb09 202 40 . . . cord-032285-gkd1wb09 203 1 The the DT cord-032285-gkd1wb09 203 2 result result NN cord-032285-gkd1wb09 203 3 is be VBZ cord-032285-gkd1wb09 203 4 to to TO cord-032285-gkd1wb09 203 5 catalyse catalyse VB cord-032285-gkd1wb09 203 6 scale scale NN cord-032285-gkd1wb09 203 7 - - HYPH cord-032285-gkd1wb09 203 8 up up NN cord-032285-gkd1wb09 203 9 by by IN cord-032285-gkd1wb09 203 10 provincial provincial JJ cord-032285-gkd1wb09 203 11 SMEs sme NNS cord-032285-gkd1wb09 203 12 more more RBR cord-032285-gkd1wb09 203 13 efficiently efficiently RB cord-032285-gkd1wb09 203 14 than than IN cord-032285-gkd1wb09 203 15 through through IN cord-032285-gkd1wb09 203 16 bank bank NN cord-032285-gkd1wb09 203 17 guarantees guarantee NNS cord-032285-gkd1wb09 203 18 . . . cord-032285-gkd1wb09 204 1 Movers mover NNS cord-032285-gkd1wb09 204 2 and and CC cord-032285-gkd1wb09 204 3 Shakers Shakers NNPS cord-032285-gkd1wb09 204 4 Measuring measure VBG cord-032285-gkd1wb09 204 5 Business Business NNP cord-032285-gkd1wb09 204 6 Growth Growth NNP cord-032285-gkd1wb09 204 7 : : : cord-032285-gkd1wb09 204 8 High high JJ cord-032285-gkd1wb09 204 9 Growth Growth NNP cord-032285-gkd1wb09 204 10 Firms Firms NNPS cord-032285-gkd1wb09 204 11 and and CC cord-032285-gkd1wb09 204 12 their -PRON- PRP$ cord-032285-gkd1wb09 204 13 Contribution Contribution NNP cord-032285-gkd1wb09 204 14 to to IN cord-032285-gkd1wb09 204 15 Employment Employment NNP cord-032285-gkd1wb09 204 16 in in IN cord-032285-gkd1wb09 204 17 the the DT cord-032285-gkd1wb09 204 18 UK UK NNP cord-032285-gkd1wb09 205 1 A a DT cord-032285-gkd1wb09 205 2 Simple Simple NNP cord-032285-gkd1wb09 205 3 Model Model NNP cord-032285-gkd1wb09 205 4 of of IN cord-032285-gkd1wb09 205 5 Herd Herd NNP cord-032285-gkd1wb09 205 6 Behavior Behavior NNP cord-032285-gkd1wb09 206 1 The the DT cord-032285-gkd1wb09 206 2 Aggregate Aggregate NNP cord-032285-gkd1wb09 206 3 Consequences Consequences NNPS cord-032285-gkd1wb09 206 4 of of IN cord-032285-gkd1wb09 206 5 Default default NN cord-032285-gkd1wb09 206 6 Risk risk NN cord-032285-gkd1wb09 206 7 : : : cord-032285-gkd1wb09 206 8 Evidence evidence NN cord-032285-gkd1wb09 206 9 from from IN cord-032285-gkd1wb09 206 10 Firm firm JJ cord-032285-gkd1wb09 206 11 - - HYPH cord-032285-gkd1wb09 206 12 level level NN cord-032285-gkd1wb09 206 13 Data datum NNS cord-032285-gkd1wb09 206 14 Tracking track VBG cord-032285-gkd1wb09 206 15 the the DT cord-032285-gkd1wb09 206 16 COVID-19 COVID-19 NNP cord-032285-gkd1wb09 206 17 Crisis Crisis NNP cord-032285-gkd1wb09 206 18 with with IN cord-032285-gkd1wb09 206 19 High High NNP cord-032285-gkd1wb09 206 20 - - HYPH cord-032285-gkd1wb09 206 21 Resolution Resolution NNP cord-032285-gkd1wb09 206 22 Transaction Transaction NNP cord-032285-gkd1wb09 206 23 Data Data NNP cord-032285-gkd1wb09 206 24 3i 3i CD cord-032285-gkd1wb09 206 25 : : : cord-032285-gkd1wb09 206 26 Fifty fifty CD cord-032285-gkd1wb09 206 27 Years year NNS cord-032285-gkd1wb09 207 1 Investing invest VBG cord-032285-gkd1wb09 207 2 in in IN cord-032285-gkd1wb09 207 3 Industry Industry NNP cord-032285-gkd1wb09 207 4 Measuring Measuring NNP cord-032285-gkd1wb09 207 5 Performance performance NN cord-032285-gkd1wb09 207 6 on on IN cord-032285-gkd1wb09 207 7 the the DT cord-032285-gkd1wb09 207 8 Healthcare Healthcare NNP cord-032285-gkd1wb09 207 9 Access Access NNP cord-032285-gkd1wb09 207 10 and and CC cord-032285-gkd1wb09 207 11 Quality Quality NNP cord-032285-gkd1wb09 207 12 Index Index NNP cord-032285-gkd1wb09 207 13 for for IN cord-032285-gkd1wb09 207 14 195 195 CD cord-032285-gkd1wb09 207 15 Countries Countries NNPS cord-032285-gkd1wb09 207 16 and and CC cord-032285-gkd1wb09 207 17 Territories Territories NNPS cord-032285-gkd1wb09 207 18 and and CC cord-032285-gkd1wb09 207 19 Selected Selected NNP cord-032285-gkd1wb09 207 20 Subnational Subnational NNP cord-032285-gkd1wb09 207 21 Locations Locations NNPS cord-032285-gkd1wb09 207 22 : : : cord-032285-gkd1wb09 208 1 A a DT cord-032285-gkd1wb09 208 2 Systematic Systematic NNP cord-032285-gkd1wb09 208 3 Analysis Analysis NNP cord-032285-gkd1wb09 208 4 from from IN cord-032285-gkd1wb09 208 5 the the DT cord-032285-gkd1wb09 208 6 Global Global NNP cord-032285-gkd1wb09 208 7 Burden Burden NNP cord-032285-gkd1wb09 208 8 of of IN cord-032285-gkd1wb09 208 9 Disease Disease NNP cord-032285-gkd1wb09 208 10 Study Study NNP cord-032285-gkd1wb09 209 1 The the DT cord-032285-gkd1wb09 209 2 UK UK NNP cord-032285-gkd1wb09 209 3 's 's POS cord-032285-gkd1wb09 209 4 Productivity Productivity NNP cord-032285-gkd1wb09 209 5 Problem Problem NNP cord-032285-gkd1wb09 209 6 : : : cord-032285-gkd1wb09 210 1 Hub Hub NNP cord-032285-gkd1wb09 210 2 No No NNP cord-032285-gkd1wb09 210 3 Spokes Spokes NNP cord-032285-gkd1wb09 210 4 Firm firm JJ cord-032285-gkd1wb09 210 5 - - HYPH cord-032285-gkd1wb09 210 6 level level NN cord-032285-gkd1wb09 210 7 Exposure exposure NN cord-032285-gkd1wb09 210 8 to to IN cord-032285-gkd1wb09 210 9 Epidemic epidemic NN cord-032285-gkd1wb09 210 10 Diseases disease NNS cord-032285-gkd1wb09 210 11 : : : cord-032285-gkd1wb09 210 12 Covid-19 Covid-19 NNP cord-032285-gkd1wb09 210 13 , , , cord-032285-gkd1wb09 210 14 Sars Sars NNP cord-032285-gkd1wb09 210 15 , , , cord-032285-gkd1wb09 210 16 and and CC cord-032285-gkd1wb09 210 17 H1N1 H1N1 NNP cord-032285-gkd1wb09 210 18 The the DT cord-032285-gkd1wb09 210 19 Secret Secret NNP cord-032285-gkd1wb09 210 20 of of IN cord-032285-gkd1wb09 210 21 Our -PRON- PRP$ cord-032285-gkd1wb09 210 22 Success Success NNP cord-032285-gkd1wb09 210 23 : : : cord-032285-gkd1wb09 211 1 How how WRB cord-032285-gkd1wb09 211 2 Culture Culture NNP cord-032285-gkd1wb09 211 3 is be VBZ cord-032285-gkd1wb09 211 4 Driving drive VBG cord-032285-gkd1wb09 211 5 Human Human NNP cord-032285-gkd1wb09 211 6 Evolution Evolution NNP cord-032285-gkd1wb09 211 7 , , , cord-032285-gkd1wb09 211 8 Domesticating domesticate VBG cord-032285-gkd1wb09 211 9 our -PRON- PRP$ cord-032285-gkd1wb09 211 10 Species specie NNS cord-032285-gkd1wb09 211 11 , , , cord-032285-gkd1wb09 211 12 and and CC cord-032285-gkd1wb09 211 13 Making make VBG cord-032285-gkd1wb09 211 14 Us -PRON- PRP cord-032285-gkd1wb09 211 15 Smarter smart JJR cord-032285-gkd1wb09 212 1 You -PRON- PRP cord-032285-gkd1wb09 212 2 Need need VBP cord-032285-gkd1wb09 212 3 to to TO cord-032285-gkd1wb09 212 4 Recognize recognize VB cord-032285-gkd1wb09 212 5 Ambiguity ambiguity NN cord-032285-gkd1wb09 212 6 to to TO cord-032285-gkd1wb09 212 7 Avoid avoid VB cord-032285-gkd1wb09 212 8 it -PRON- PRP cord-032285-gkd1wb09 212 9 The the DT cord-032285-gkd1wb09 212 10 Role role NN cord-032285-gkd1wb09 212 11 of of IN cord-032285-gkd1wb09 212 12 Innovation Innovation NNP cord-032285-gkd1wb09 212 13 in in IN cord-032285-gkd1wb09 212 14 the the DT cord-032285-gkd1wb09 212 15 UK UK NNP cord-032285-gkd1wb09 212 16 's 's POS cord-032285-gkd1wb09 212 17 COVID-19 COVID-19 NNP cord-032285-gkd1wb09 212 18 Recovery Recovery NNP cord-032285-gkd1wb09 212 19 Radical Radical NNP cord-032285-gkd1wb09 212 20 Uncertainty Uncertainty NNP cord-032285-gkd1wb09 212 21 : : : cord-032285-gkd1wb09 212 22 Decision decision NN cord-032285-gkd1wb09 212 23 - - HYPH cord-032285-gkd1wb09 212 24 making making NN cord-032285-gkd1wb09 212 25 for for IN cord-032285-gkd1wb09 212 26 an an DT cord-032285-gkd1wb09 212 27 Unknowable Unknowable NNP cord-032285-gkd1wb09 212 28 Future Future NNP cord-032285-gkd1wb09 212 29 Innovation Innovation NNP cord-032285-gkd1wb09 212 30 , , , cord-032285-gkd1wb09 212 31 SMEs sme NNS cord-032285-gkd1wb09 212 32 , , , cord-032285-gkd1wb09 212 33 and and CC cord-032285-gkd1wb09 212 34 the the DT cord-032285-gkd1wb09 212 35 Liability Liability NNP cord-032285-gkd1wb09 212 36 of of IN cord-032285-gkd1wb09 212 37 Distance Distance NNP cord-032285-gkd1wb09 212 38 : : : cord-032285-gkd1wb09 212 39 the the DT cord-032285-gkd1wb09 212 40 Demand Demand NNP cord-032285-gkd1wb09 212 41 and and CC cord-032285-gkd1wb09 212 42 Supply Supply NNP cord-032285-gkd1wb09 212 43 of of IN cord-032285-gkd1wb09 212 44 Bank Bank NNP cord-032285-gkd1wb09 212 45 Funding Funding NNP cord-032285-gkd1wb09 212 46 in in IN cord-032285-gkd1wb09 212 47 UK UK NNP cord-032285-gkd1wb09 212 48 Peripheral Peripheral NNP cord-032285-gkd1wb09 212 49 Regions Regions NNPS cord-032285-gkd1wb09 212 50 Perceptions Perceptions NNPS cord-032285-gkd1wb09 212 51 of of IN cord-032285-gkd1wb09 212 52 Regional Regional NNP cord-032285-gkd1wb09 212 53 Inequality Inequality NNP cord-032285-gkd1wb09 212 54 and and CC cord-032285-gkd1wb09 212 55 the the DT cord-032285-gkd1wb09 212 56 Geography geography NN cord-032285-gkd1wb09 212 57 of of IN cord-032285-gkd1wb09 212 58 Discontent discontent NN cord-032285-gkd1wb09 212 59 : : : cord-032285-gkd1wb09 212 60 Insights insight NNS cord-032285-gkd1wb09 212 61 from from IN cord-032285-gkd1wb09 212 62 the the DT cord-032285-gkd1wb09 212 63 UK UK NNP cord-032285-gkd1wb09 212 64 Productivity Productivity NNP cord-032285-gkd1wb09 212 65 Perspectives Perspectives NNPS cord-032285-gkd1wb09 212 66 : : : cord-032285-gkd1wb09 213 1 Observations observation NNS cord-032285-gkd1wb09 213 2 from from IN cord-032285-gkd1wb09 213 3 the the DT cord-032285-gkd1wb09 213 4 UK UK NNP cord-032285-gkd1wb09 213 5 and and CC cord-032285-gkd1wb09 213 6 the the DT cord-032285-gkd1wb09 213 7 International International NNP cord-032285-gkd1wb09 213 8 Arena Arena NNP cord-032285-gkd1wb09 213 9 Public Public NNP cord-032285-gkd1wb09 213 10 Policy Policy NNP cord-032285-gkd1wb09 213 11 in in IN cord-032285-gkd1wb09 213 12 an an DT cord-032285-gkd1wb09 213 13 Uncertain Uncertain NNP cord-032285-gkd1wb09 213 14 World world NN cord-032285-gkd1wb09 213 15 : : : cord-032285-gkd1wb09 213 16 Analysis Analysis NNP cord-032285-gkd1wb09 213 17 and and CC cord-032285-gkd1wb09 213 18 Decisions Decisions NNPS cord-032285-gkd1wb09 213 19 Productivity Productivity NNP cord-032285-gkd1wb09 213 20 and and CC cord-032285-gkd1wb09 213 21 the the DT cord-032285-gkd1wb09 213 22 UK UK NNP cord-032285-gkd1wb09 213 23 's 's POS cord-032285-gkd1wb09 213 24 Deficiency deficiency NN cord-032285-gkd1wb09 213 25 in in IN cord-032285-gkd1wb09 213 26 Scale Scale NNP cord-032285-gkd1wb09 213 27 - - HYPH cord-032285-gkd1wb09 213 28 Ups Ups NNP cord-032285-gkd1wb09 213 29 Putting put VBG cord-032285-gkd1wb09 213 30 Purpose Purpose NNP cord-032285-gkd1wb09 213 31 into into IN cord-032285-gkd1wb09 213 32 Practice practice NN cord-032285-gkd1wb09 213 33 : : : cord-032285-gkd1wb09 213 34 The the DT cord-032285-gkd1wb09 213 35 Economics Economics NNP cord-032285-gkd1wb09 213 36 of of IN cord-032285-gkd1wb09 213 37 Mutuality Mutuality NNP cord-032285-gkd1wb09 213 38 Information Information NNP cord-032285-gkd1wb09 213 39 and and CC cord-032285-gkd1wb09 213 40 Network Network NNP cord-032285-gkd1wb09 213 41 Externalities externality NNS cord-032285-gkd1wb09 214 1 Tacit Tacit NNP cord-032285-gkd1wb09 214 2 Knowledge Knowledge NNP cord-032285-gkd1wb09 214 3 and and CC cord-032285-gkd1wb09 214 4 Engineering Engineering NNP cord-032285-gkd1wb09 214 5 Design Design NNP cord-032285-gkd1wb09 215 1 The the DT cord-032285-gkd1wb09 215 2 Psychology Psychology NNP cord-032285-gkd1wb09 215 3 of of IN cord-032285-gkd1wb09 215 4 Coordination Coordination NNP cord-032285-gkd1wb09 215 5 and and CC cord-032285-gkd1wb09 215 6 Common Common NNP cord-032285-gkd1wb09 215 7 Knowledge Knowledge NNP cord-032285-gkd1wb09 216 1 The the DT cord-032285-gkd1wb09 216 2 Role role NN cord-032285-gkd1wb09 216 3 of of IN cord-032285-gkd1wb09 216 4 Conviction Conviction NNP cord-032285-gkd1wb09 216 5 and and CC cord-032285-gkd1wb09 216 6 Narrative narrative NN cord-032285-gkd1wb09 216 7 in in IN cord-032285-gkd1wb09 216 8 Decision decision NN cord-032285-gkd1wb09 216 9 - - HYPH cord-032285-gkd1wb09 216 10 making making NN cord-032285-gkd1wb09 216 11 under under IN cord-032285-gkd1wb09 216 12 Radical Radical NNP cord-032285-gkd1wb09 216 13 Uncertainty Uncertainty NNP cord-032285-gkd1wb09 216 14 Globalization Globalization NNP cord-032285-gkd1wb09 216 15 and and CC cord-032285-gkd1wb09 216 16 Urban Urban NNP cord-032285-gkd1wb09 216 17 Polarization Polarization NNP