In this paper we explore the implication of a morbidity risk for the relationship between longevity and annuitization. We divide old-age life into two periods with uncertain survival from the end of the first to the end of the second. We show that a rise in the survival rate causes different...

This paper improves on the widely used residual method in order to estimate the magnitude of capital flight in eight Asian economies over the period of 1980-2004. The paper argues that as capital flight is a drain on financial resources for development, it is more appropriate to measure it...