Gini’s transvariation analysis: an application on financial crises in developing countries

摘要: The damage and the recurrence of financial crises have increased concern investors policymakers on one hand interest macroeconomists other. This paper presents an original non parametric methodology, whose aim is to give a very intuitive rigorous method for variable selection in order analyse crises. Transvariation analysis compares distributions two different groups countries (sound distressed) with respect single macroeconomic selects indicators basis low transvariation probability index. current account deficit GDP ratio, differently from other studies crises, seems be suitable discriminating distressed sound ones, case Argentina Turkey confirms this finding.