The "race-to-the-bottom" theory of globalization argues that the highly-mobile nature of capital in the modern global political-economy incentivizes corporations moving their operations to those nations with the least environmental regulations (Wheeler 2001). This suggests a positive correlation between foreign direct investment (FDI) and environmental degradation, a hypothesis which has been widely studied and supported by quantitative analyses (McKinney 2014). Page 25 of the CELT Research Abstract Booklet.