The impact of foreign direct investment on carbon emissions: A comparative study in the ASEAN countries with the highest foreign direct investment

The main objective of this study is to investigate the short- and long-term effects of Foreign Direct Investment (FDI) on CO 2 in some ASEAN countries having high levels of FDI, including Singapore, Indonesia, Malaysia, and Vietnam. This study applied Autoregressive Distributed Lag (ARDL) analysis in estimating the short- and long-term relationship of FDI on CO 2 . The test results showed that the short-term positive impact of FDI on CO 2 was shown in Singapore and Indonesia, while the negative effect was seen in Vietnam. In the long-term relationship, a positive impact was found in Vietnam and Singapore.