The Asian economic crisis and the global financial crisis were caused by similar factors, leading to widespread instability. Recessions from financial crises last longer and have higher costs. The study found that GDP growth, unemployment, inflation, and government borrowing are all connected. Using fiscal policy to boost these factors at the same time can help economies recover from recessions. The study suggests that government action, rather than conservative approaches, can be effective in reducing unemployment, which is a major impact of these crises.