Crédit Agricole Corporate and Investment Bank
June 19, 2026
Japan: What Is Sanaenomics?
Macro ThematicMacro Economic IndicatorsOther
Sanaenomics is an economic framework focused on shifting Japan from a cost-cutting, austerity-focused model to one of growth through massive public-private investment and high-pressure fiscal policy. The authors argue this pivot is essential for long-term national strength and real wage growth.
Key Takeaways
- 1.Sanaenomics aims to shift Japan's economy from a cost-cutting model to an investment-and-growth model by expanding corporate capital expenditure.
- 2.The strategy proposes a high-pressure economy with a 2% positive output gap, shifting away from fiscal austerity to strategic public-private investment.
- 3.Fiscal policy discipline should be redefined from a primary balance surplus target to a combination of net domestic fund demand and net debt-to-GDP targets.
Table of Contents
- Japan: what is Sanaenomics?
- Sanaenomics: The Blueprint for Japan's economic dominance
- Macro Research advanced tools
- Outlook and Forecasts
- Global Economics
- Leverage Analytics
- Capital Flows
- Fiscal Policies and Public Debt
- Country by Country
- Red Mount Analytics
- Our new interactive data website features
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Authors
Takuji AidaKen Matsumoto
Securities
JGB
Themes
Fiscal Policy ReformEconomic GrowthSanaenomics
Regions
Asia PacificJapan
