noun
locomotive theory
An economic development theory where a leading economy (the 'locomotive') pulls other economies along. Domain-specific term used in economics and international trade.
機関車論は、ある国の経済成長が他国の経済を牽引するという考え方だ。
The locomotive theory is the idea that one country's economic growth pulls other economies along.
Compound of 機関車 (locomotive) and 論 (theory). The term is a direct translation of the English 'locomotive theory'.