Foreign direct investment and international stock market integration

@article{Shi2010ForeignDI,
  title={Foreign direct investment and international stock market integration},
  author={Jing Shi and Chris Bilson and John G. Powell and J. David Wigg},
  journal={Australian Journal of Management},
  year={2010},
  volume={35},
  pages={265 - 290}
}
This paper examines whether foreign direct investment between countries fosters stock market integration. Empirical tests demonstrate that both the flow and the level of bilateral foreign direct investment between countries explain country-pair stock market integration. More specifically, higher bilateral foreign direct investment levels and flows increase Australia’s stock market integration with its major trade partners. 

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