Contribute to financial crises

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Ben Bernanke, former chairman of the Federal Reserve, suggested a decade and a half ago that the collective 'savings glut' of Asia in the early twenty-first century contributed to the Global Financial Crisis in 2008. In a recent article in the Economist magazine, however, it is said that this view did not meet unanimous agreement:

"A broader question is whether Asia should be faulted for its predilection for saving." "Economists also continue to question how much blame Asian savers really deserve for the global financial turmoil of 2008."
The Economist, 23rd November 2019

More generally, to what extent do you think that saving money, a normal objective of households, if done on a large scale on aggregate, may contribute to financial crises in other parts of the world?

Reference no: EM132607394

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