One of the specifications of developed countries is that they have efficient Capital markets and well organized institutions which are not only having an important designation in the economics of different countries but also, they create basis of economic growth and development of those countries. Whereas most of developing countries have started absorbing participation and investment of foreign countries in fundamental and producing activities for compensating lack of investment and financial resources which are needed in development process.For years, foreign investment has been one of the most important topics in international economy and it made us to have comparative researches in absorbing foreign investment and the effects of it in improving of selected countries economy. The present research is a comparative study between Iran and selected countries (Malaysia, Turkey, Pakistan, Egypt, Jordan, Lebanon, Kazakhstan, South Africa, India, Brazil, Mexico, Kuwait, Oman, Bahrain) based on financial and economic information which was studied from 2001 to 2010.The used method in this research is the Russell Calderon model of effective factors on efficiency and development of investment market in mentioned countries. Findings show positive effect of economic growth, cash flow rate in market, foreign investment, political, economic and financial compound risk indicator and negative effect of freedom of financial markets on market investment indicator.