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Machinery --- Shafting --- Transmission (Mécanique) --- Alignment --- Assen (werktuigkundig) --- Roterende assen --- Uitlijning --- Werkplaatsmeettechnieken --- Assen (werktuigkundig). --- Roterende assen. --- Uitlijning. --- Werkplaatsmeettechnieken. --- Transmission (Mécanique)

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The present paper investigates whether tourism specialization is a viable strategy for development. We estimate standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques for a large cross-section of countries for the period 1980-2002. We introduce an instrument for tourism based on the UNESCO World Heritage List. We find that there is a positive relationship between the extent of tourism specialization and economic growth. An increase of one standard deviation in the share of tourism in exports leads to about 0.5 percentage point in additional annual growth, everything else being constant. Our result holds against a large array of robustness checks.

Economic development. --- Rural development. --- Tourism. --- Geography --- Earth & Environmental Sciences --- Travel & Tourism --- Development, Economic --- Economic growth --- Growth, Economic --- Holiday industry --- Operators, Tour (Industry) --- Tour operators (Industry) --- Tourism --- Tourism industry --- Tourism operators (Industry) --- Tourist industry --- Tourist trade --- Tourist traffic --- Travel industry --- Visitor industry --- Economic aspects --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Service industries --- National tourism organizations --- Travel --- Foreign Exchange --- Macroeconomics --- Public Finance --- Industries: Hospital,Travel and Tourism --- Sports --- Gambling --- Restaurants --- Recreation --- Personal Income, Wealth, and Their Distributions --- National Government Expenditures and Related Policies: General --- Education: General --- Hospitality, leisure & tourism industries --- Currency --- Foreign exchange --- Public finance & taxation --- Education --- Purchasing power parity --- Personal income --- Public expenditure review --- Income --- Expenditures, Public --- United States