In an effort to help global investors benefit from growth beyond the BRIC nations, a group of 11 nations (N11) that are likely to make increased contribution towards global GDP in the time to come were identified by Goldman Sachs. These nations include Mexico, Indonesia, South Korea, Turkey, Bangladesh, Egypt, Nigeria, Pakistan, Philippines, Vietnam, and Iran. Of the 11 nations, the economies of Mexico, Indonesia, South Korea, and Turkey (collectively called as MIST economies) account for 73% of the total N-11 GDP as of 2011. Taking cognizance of the emergence of N11 economies from the shadows of the BRICs, the prominent role played by the MIST economies amidst N11 group, and the growing expectation that these economies would serve as the growth engines of the world in the time to come, it is all the more critical for international investors looking for international portfolio diversification avenues to understand the extent of integration between the equity markets pertaining to the MIST economies and the developed stock markets of the world. Consequently, this study is aimed at examining the extent of bivariate cointegration and time varying comovements of equity markets pertaining to MIST economies with the developed stock markets of the world namely US, UK, Germany, Japan, Hong Kong, and Singapore. The author employs Engle-Granger two-step cointegration test (Engle and Granger, 1987), Gregory-Hansen test (Gregory, and Hansen, 1996), Bai Perron test (Bai and Perron, 1998, 2003) and Johansen’s cointegration test (Johansen, 1988, 1991) to test for bivariate cointegration between each of the stock markets pertaining to MIST economies and the developed markets. Further, the estimated residuals from the Bai-Perron test are then utilized to construct an error correction model, wherein the error correction parameter measures the speed of adjustment of the bivariate system to disequilibriating shocks. Such an error correction model is viewed as a more powerful test for cointegration than cointegration tests based on static cointegration regressions (Banerjee et al., 1990; Kremers et al., 1992). In addition, multivariate Johansen cointegration test is also employed to examine extent of integration of each of the MIST equity markets with all of the developed stock markets considered for this study. In an effort to examine short-term dynamics between MIST and developed equity markets, Granger causality methodology (Granger, 1969) was employed. Further bivariate DCC-GARCH models (Engle, 2002) are employed to examine the time varying co-movements of equity markets pertaining to the MIST economies with the developed stock markets of the world. The findings pertaining to this study would not only be valuable to investing community, but would also go a long way in contributing towards the vast burgeoning literature on global stock market integration and its implications for international portfolio diversification. Finally, this is possibly the first study that tests for cointegration of stock markets pertaining to the MIST economies with developed world equity markets, since the author is yet to come across such a study.