financial globalization

Financial globalization refers to the increased interconnectedness of countries' financial systems through the flow of capital, investments, and financial services across borders. This process allows for easier access to international markets, enabling governments, businesses, and individuals to invest, borrow, and manage financial assets globally. It can lead to greater economic growth and efficiency but also increases exposure to international risks, such as financial crises or economic downturns in other countries. Overall, financial globalization fosters a more integrated world economy, where financial activities are less confined by national borders.