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Do the United States and China truly shape the global economic agenda? A new study investigating the relationship between global powers and the stock market has revealed they have more economic influence than previously thought.

The study by Charles Darwin University (CDU) and Griffith University revealed how rich and powerful nations influence the policies of less powerful economies by exploring the correlation between the Global Power Index (GPI) and relative stock market performance and integration.

This study is the first of its kind to establish such a relationship. The research is published in the Global Finance Journal.

The authors examined economic and stock market data over 25 years for 11 nations: Australia, Canada, China, Germany, France, India, Italy, Korea, Mexico, the United Kingdom and the United States.

These regions represent 58.05% of the gross domestic product of global markets and 46.17% of the global population.

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