Foreign direct investment and international stock market integration

Jing Shi*, Chris Bilson, John G. Powell, Julie Wigg

*Corresponding author for this work

Research output: Contribution to journalArticleResearchpeer-review

12 Citations (Scopus)
17 Downloads (Pure)


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.

Original languageEnglish
Pages (from-to)265-290
Number of pages26
JournalAustralian Journal of Management
Issue number3
Publication statusPublished - 1 Dec 2010
Externally publishedYes


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