Reis, Luciana; Meurer, Roberto; Silva, Sergio Da - In: Applied Financial Economics 20 (2010) 17, pp. 1351-1361
We examine the relationship between stock returns and foreign investment in Brazil, and find that the inflows of foreign investment boosted the returns from 1995 to 2005. There was a strong contemporaneous correlation, although not Granger causality. Foreign investment along with the exchange...