Financial Globalisation's Influence on Environmental Policies and Practices
Financial globalisation refers to cross-border capital flows. These include debt, equity, foreign direct investment (FDI) etc (Wei, 2018) . Financial globalization may also be defined as a free movement of finance across national boundaries without restrictions (Sanjay, 2022). Thus, it can be explained as the process that allows financial institutions (investment banks, mortgage companies, retail and commercial banks, insurance companies, brokerage firms etc) markets and services become more globally integrated. Hence, financial globalisation is about international capital flows, globalisation of financial services and cross border capital flows. The result of successfully integrating the global financial market has been an increase in production and financial development, which has also led to economic growth (Erdogan, et al., 2020) One of the main underlying principles behind financial integration is the theory of comparative advantage, which proposes that countries should ...