id sid tid token lemma pos x346d220815 1 1 the the DET x346d220815 1 2 choice choice NOUN x346d220815 1 3 between between ADP x346d220815 1 4 a a DET x346d220815 1 5 fixed fix VERB x346d220815 1 6 and and CCONJ x346d220815 1 7 flexible flexible ADJ x346d220815 1 8 exchange exchange NOUN x346d220815 1 9 rate rate NOUN x346d220815 1 10 regime regime NOUN x346d220815 1 11 has have AUX x346d220815 1 12 emerged emerge VERB x346d220815 1 13 as as ADP x346d220815 1 14 one one NUM x346d220815 1 15 of of ADP x346d220815 1 16 the the DET x346d220815 1 17 central central ADJ x346d220815 1 18 aspects aspect NOUN x346d220815 1 19 within within ADP x346d220815 1 20 the the DET x346d220815 1 21 larger large ADJ x346d220815 1 22 debate debate NOUN x346d220815 1 23 concerning concern VERB x346d220815 1 24 global global ADJ x346d220815 1 25 financial financial ADJ x346d220815 1 26 architecture architecture NOUN x346d220815 1 27 . . PUNCT x346d220815 2 1 my my PRON x346d220815 2 2 dissertation dissertation NOUN x346d220815 2 3 explores explore VERB x346d220815 2 4 the the DET x346d220815 2 5 often often ADV x346d220815 2 6 neglected neglect VERB x346d220815 2 7 aspect aspect NOUN x346d220815 2 8 of of ADP x346d220815 2 9 exchange exchange NOUN x346d220815 2 10 rate rate PROPN x346d220815 2 11 misalignment misalignment PROPN x346d220815 2 12 in in ADP x346d220815 2 13 such such DET x346d220815 2 14 a a DET x346d220815 2 15 context context NOUN x346d220815 2 16 . . PUNCT x346d220815 3 1 the the DET x346d220815 3 2 dissertation dissertation NOUN x346d220815 3 3 consists consist VERB x346d220815 3 4 of of ADP x346d220815 3 5 two two NUM x346d220815 3 6 chapters chapter NOUN x346d220815 3 7 . . PUNCT x346d220815 4 1 the the DET x346d220815 4 2 first first ADJ x346d220815 4 3 chapter chapter NOUN x346d220815 4 4 ascertains ascertain VERB x346d220815 4 5 whether whether SCONJ x346d220815 4 6 a a DET x346d220815 4 7 country country NOUN x346d220815 4 8 's 's PART x346d220815 4 9 exchange exchange NOUN x346d220815 4 10 rate rate NOUN x346d220815 4 11 regime regime NOUN x346d220815 4 12 has have VERB x346d220815 4 13 an an DET x346d220815 4 14 impact impact NOUN x346d220815 4 15 on on ADP x346d220815 4 16 the the DET x346d220815 4 17 degree degree NOUN x346d220815 4 18 of of ADP x346d220815 4 19 misalignment misalignment PROPN x346d220815 4 20 . . PUNCT x346d220815 5 1 this this PRON x346d220815 5 2 may may AUX x346d220815 5 3 be be AUX x346d220815 5 4 especially especially ADV x346d220815 5 5 important important ADJ x346d220815 5 6 for for ADP x346d220815 5 7 emerging emerge VERB x346d220815 5 8 economies economy NOUN x346d220815 5 9 that that PRON x346d220815 5 10 receive receive VERB x346d220815 5 11 substantial substantial ADJ x346d220815 5 12 capital capital NOUN x346d220815 5 13 flows flow NOUN x346d220815 5 14 . . PUNCT x346d220815 6 1 since since SCONJ x346d220815 6 2 there there PRON x346d220815 6 3 is be VERB x346d220815 6 4 no no DET x346d220815 6 5 standard standard ADJ x346d220815 6 6 definition definition NOUN x346d220815 6 7 of of ADP x346d220815 6 8 ' ' PUNCT x346d220815 6 9 emerging emerge VERB x346d220815 6 10 ' ' PUNCT x346d220815 6 11 in in ADP x346d220815 6 12 the the DET x346d220815 6 13 literature literature NOUN x346d220815 6 14 , , PUNCT x346d220815 6 15 a a DET x346d220815 6 16 cluster cluster NOUN x346d220815 6 17 analysis analysis NOUN x346d220815 6 18 is be AUX x346d220815 6 19 used use VERB x346d220815 6 20 to to PART x346d220815 6 21 define define VERB x346d220815 6 22 such such ADJ x346d220815 6 23 countries country NOUN x346d220815 6 24 in in ADP x346d220815 6 25 this this DET x346d220815 6 26 study study NOUN x346d220815 6 27 based base VERB x346d220815 6 28 on on ADP x346d220815 6 29 four four NUM x346d220815 6 30 parameters parameter NOUN x346d220815 6 31 . . PUNCT x346d220815 7 1 using use VERB x346d220815 7 2 a a DET x346d220815 7 3 panel panel NOUN x346d220815 7 4 ( ( PUNCT x346d220815 7 5 102 102 NUM x346d220815 7 6 countries country NOUN x346d220815 7 7 , , PUNCT x346d220815 7 8 30 30 NUM x346d220815 7 9 years year NOUN x346d220815 7 10 ) ) PUNCT x346d220815 7 11 cointegration cointegration NOUN x346d220815 7 12 vector vector NOUN x346d220815 7 13 estimator estimator NOUN x346d220815 7 14 , , PUNCT x346d220815 7 15 i i PRON x346d220815 7 16 define define VERB x346d220815 7 17 the the DET x346d220815 7 18 equilibrium equilibrium NOUN x346d220815 7 19 exchange exchange NOUN x346d220815 7 20 rate rate NOUN x346d220815 7 21 as as SCONJ x346d220815 7 22 implied imply VERB x346d220815 7 23 by by ADP x346d220815 7 24 the the DET x346d220815 7 25 estimator estimator NOUN x346d220815 7 26 . . PUNCT x346d220815 8 1 i i PRON x346d220815 8 2 also also ADV x346d220815 8 3 classify classify VERB x346d220815 8 4 the the DET x346d220815 8 5 de de X x346d220815 8 6 facto facto X x346d220815 8 7 exchange exchange NOUN x346d220815 8 8 rate rate NOUN x346d220815 8 9 regime regime NOUN x346d220815 8 10 taking take VERB x346d220815 8 11 into into ADP x346d220815 8 12 account account NOUN x346d220815 8 13 a a DET x346d220815 8 14 country country NOUN x346d220815 8 15 's 's PART x346d220815 8 16 effective effective ADJ x346d220815 8 17 exchange exchange NOUN x346d220815 8 18 rate rate NOUN x346d220815 8 19 characteristics characteristic NOUN x346d220815 8 20 , , PUNCT x346d220815 8 21 which which PRON x346d220815 8 22 has have AUX x346d220815 8 23 not not PART x346d220815 8 24 been be AUX x346d220815 8 25 previously previously ADV x346d220815 8 26 used use VERB x346d220815 8 27 . . PUNCT x346d220815 9 1 the the DET x346d220815 9 2 results result NOUN x346d220815 9 3 suggest suggest VERB x346d220815 9 4 that that SCONJ x346d220815 9 5 for for ADP x346d220815 9 6 developing develop VERB x346d220815 9 7 countries country NOUN x346d220815 9 8 , , PUNCT x346d220815 9 9 an an DET x346d220815 9 10 intermediate intermediate ADJ x346d220815 9 11 exchange exchange NOUN x346d220815 9 12 rate rate NOUN x346d220815 9 13 regime regime NOUN x346d220815 9 14 ( ( PUNCT x346d220815 9 15 a a DET x346d220815 9 16 regime regime NOUN x346d220815 9 17 between between ADP x346d220815 9 18 a a DET x346d220815 9 19 pure pure ADJ x346d220815 9 20 oat oat NOUN x346d220815 9 21 and and CCONJ x346d220815 9 22 a a DET x346d220815 9 23 hard hard ADJ x346d220815 9 24 peg peg NOUN x346d220815 9 25 ) ) PUNCT x346d220815 9 26 is be AUX x346d220815 9 27 most most ADV x346d220815 9 28 effective effective ADJ x346d220815 9 29 at at ADP x346d220815 9 30 limiting limit VERB x346d220815 9 31 misalignment misalignment PROPN x346d220815 9 32 . . PUNCT x346d220815 10 1 fixed fix VERB x346d220815 10 2 rates rate NOUN x346d220815 10 3 perform perform VERB x346d220815 10 4 second second ADV x346d220815 10 5 - - PUNCT x346d220815 10 6 best good ADJ x346d220815 10 7 , , PUNCT x346d220815 10 8 while while SCONJ x346d220815 10 9 oats oat NOUN x346d220815 10 10 perform perform VERB x346d220815 10 11 the the DET x346d220815 10 12 worst bad ADJ x346d220815 10 13 . . PUNCT x346d220815 11 1 also also ADV x346d220815 11 2 , , PUNCT x346d220815 11 3 there there PRON x346d220815 11 4 is be VERB x346d220815 11 5 no no DET x346d220815 11 6 significant significant ADJ x346d220815 11 7 difference difference NOUN x346d220815 11 8 among among ADP x346d220815 11 9 regimes regime NOUN x346d220815 11 10 in in ADP x346d220815 11 11 limiting limit VERB x346d220815 11 12 misalignment misalignment NOUN x346d220815 11 13 for for ADP x346d220815 11 14 developed developed ADJ x346d220815 11 15 countries country NOUN x346d220815 11 16 . . PUNCT x346d220815 12 1 using use VERB x346d220815 12 2 the the DET x346d220815 12 3 same same ADJ x346d220815 12 4 sample sample NOUN x346d220815 12 5 and and CCONJ x346d220815 12 6 improved improved ADJ x346d220815 12 7 measure measure NOUN x346d220815 12 8 of of ADP x346d220815 12 9 misalignment misalignment NOUN x346d220815 12 10 from from ADP x346d220815 12 11 the the DET x346d220815 12 12 first first ADJ x346d220815 12 13 chapter chapter NOUN x346d220815 12 14 , , PUNCT x346d220815 12 15 the the DET x346d220815 12 16 second second ADJ x346d220815 12 17 chapter chapter NOUN x346d220815 12 18 employs employ VERB x346d220815 12 19 standard standard ADJ x346d220815 12 20 growth growth NOUN x346d220815 12 21 regressions regression NOUN x346d220815 12 22 to to PART x346d220815 12 23 determine determine VERB x346d220815 12 24 how how SCONJ x346d220815 12 25 exchange exchange PROPN x346d220815 12 26 rate rate PROPN x346d220815 12 27 misalignment misalignment PROPN x346d220815 12 28 affects affect VERB x346d220815 12 29 economic economic ADJ x346d220815 12 30 growth growth NOUN x346d220815 12 31 . . PUNCT x346d220815 13 1 i i PRON x346d220815 13 2 find find VERB x346d220815 13 3 that that SCONJ x346d220815 13 4 it it PRON x346d220815 13 5 does do AUX x346d220815 13 6 affect affect VERB x346d220815 13 7 growth growth NOUN x346d220815 13 8 , , PUNCT x346d220815 13 9 but but CCONJ x346d220815 13 10 asymmetrically asymmetrically ADV x346d220815 13 11 . . PUNCT x346d220815 14 1 specifically specifically ADV x346d220815 14 2 , , PUNCT x346d220815 14 3 overvaluation overvaluation NOUN x346d220815 14 4 significantly significantly ADV x346d220815 14 5 hurts hurt VERB x346d220815 14 6 growth growth NOUN x346d220815 14 7 while while SCONJ x346d220815 14 8 undervaluation undervaluation NOUN x346d220815 14 9 has have VERB x346d220815 14 10 the the DET x346d220815 14 11 opposite opposite ADJ x346d220815 14 12 effect effect NOUN x346d220815 14 13 ( ( PUNCT x346d220815 14 14 although although SCONJ x346d220815 14 15 it it PRON x346d220815 14 16 is be AUX x346d220815 14 17 not not PART x346d220815 14 18 statistically statistically ADV x346d220815 14 19 significant significant ADJ x346d220815 14 20 ) ) PUNCT x346d220815 14 21 . . PUNCT x346d220815 15 1 developed develop VERB x346d220815 15 2 and and CCONJ x346d220815 15 3 developing develop VERB x346d220815 15 4 countries country NOUN x346d220815 15 5 are be AUX x346d220815 15 6 affected affect VERB x346d220815 15 7 by by ADP x346d220815 15 8 misalignment misalignment NOUN x346d220815 15 9 to to ADP x346d220815 15 10 different different ADJ x346d220815 15 11 degrees degree NOUN x346d220815 15 12 , , PUNCT x346d220815 15 13 with with ADP x346d220815 15 14 a a DET x346d220815 15 15 greater great ADJ x346d220815 15 16 impact impact NOUN x346d220815 15 17 for for ADP x346d220815 15 18 developing develop VERB x346d220815 15 19 countries country NOUN x346d220815 15 20 . . PUNCT x346d220815 16 1 also also ADV x346d220815 16 2 , , PUNCT x346d220815 16 3 the the DET x346d220815 16 4 persistence persistence NOUN x346d220815 16 5 of of ADP x346d220815 16 6 misalignment misalignment NOUN x346d220815 16 7 matters matter NOUN x346d220815 16 8 in in ADP x346d220815 16 9 that that SCONJ x346d220815 16 10 continuing continue VERB x346d220815 16 11 overvaluation overvaluation NOUN x346d220815 16 12 or or CCONJ x346d220815 16 13 undervaluation undervaluation NOUN x346d220815 16 14 are be AUX x346d220815 16 15 harmful harmful ADJ x346d220815 16 16 . . PUNCT x346d220815 17 1 the the DET x346d220815 17 2 results result NOUN x346d220815 17 3 suggest suggest VERB x346d220815 17 4 it it PRON x346d220815 17 5 is be AUX x346d220815 17 6 not not PART x346d220815 17 7 a a DET x346d220815 17 8 viable viable ADJ x346d220815 17 9 strategy strategy NOUN x346d220815 17 10 to to PART x346d220815 17 11 intentionally intentionally ADV x346d220815 17 12 undervalue undervalue VERB x346d220815 17 13 a a DET x346d220815 17 14 currency currency NOUN x346d220815 17 15 to to PART x346d220815 17 16 improve improve VERB x346d220815 17 17 the the DET x346d220815 17 18 competitiveness competitiveness NOUN x346d220815 17 19 of of ADP x346d220815 17 20 the the DET x346d220815 17 21 export export NOUN x346d220815 17 22 sector sector NOUN x346d220815 17 23 . . PUNCT x346d220815 18 1 since since SCONJ x346d220815 18 2 the the DET x346d220815 18 3 choice choice NOUN x346d220815 18 4 of of ADP x346d220815 18 5 regime regime NOUN x346d220815 18 6 matters matter NOUN x346d220815 18 7 for for ADP x346d220815 18 8 misalignment misalignment NOUN x346d220815 18 9 , , PUNCT x346d220815 18 10 and and CCONJ x346d220815 18 11 this this PRON x346d220815 18 12 can can AUX x346d220815 18 13 seriously seriously ADV x346d220815 18 14 affect affect VERB x346d220815 18 15 the the DET x346d220815 18 16 growth growth NOUN x346d220815 18 17 prospects prospect NOUN x346d220815 18 18 of of ADP x346d220815 18 19 a a DET x346d220815 18 20 developing develop VERB x346d220815 18 21 country country NOUN x346d220815 18 22 , , PUNCT x346d220815 18 23 this this DET x346d220815 18 24 work work NOUN x346d220815 18 25 suggests suggest VERB x346d220815 18 26 that that SCONJ x346d220815 18 27 properly properly ADV x346d220815 18 28 administered administer VERB x346d220815 18 29 intermediate intermediate ADJ x346d220815 18 30 regimes regime NOUN x346d220815 18 31 can can AUX x346d220815 18 32 help help VERB x346d220815 18 33 limit limit VERB x346d220815 18 34 exchange exchange NOUN x346d220815 18 35 rate rate PROPN x346d220815 18 36 misalignment misalignment PROPN x346d220815 18 37 that that PRON x346d220815 18 38 can can AUX x346d220815 18 39 be be AUX x346d220815 18 40 detrimental detrimental ADJ x346d220815 18 41 to to ADP x346d220815 18 42 growth growth NOUN x346d220815 18 43 . . PUNCT