ROBERT E. BALDWIN Hilldale Professor of Economics, Emeritus University, Wisconsin-Madison JAGDISH N. BHAGWATI Arthur Lehman Professor of Economics and Professor of Political Science, Columbia University W.MAX CORDEN Chung Ju Yung Professor of International Economics, Paul H. Nitze School of Advanced International Studies, John Hopkins University MEREDITH CROWLEY Department of Economics, University of Wisconsin-Madison SEBASTIAN EDWARDS Henry Ford II Professor of International Economics, University of California, Los Angeles RONALD FINDLAY Professor of Economics, Columbia University HERBERT GIERSCH President, Kiel University MALCOLM GILLIS President, Rice University ARNOLD C. HARBERGER Swift Distinguished Service Professor Emeritus, University of Chicago HELEN HUGHES Professor Emeritus, Australian National University RONALD W. JONES Xerox Professor of Economics, University of Rochester RONALD I. MCKINNON William D. Eberle Professor of Economics, Stanford University MICHAEL MICHAELY Aron and Michael Chilewich Emeritus Professor of International Trade, Hebrew University of Jerusalem CONSTANTINE MICHALOPOULOS Senior Economic Advisor, World Bank I. NATARAJAN National Council of Applied Economic Research, New Delhi SARATH RAJAPATIRANA Visiting Scholar, American Enterprise Institute VERNON W. RUTTAN Regents Professor Emeritus, University of Minnesota T. N. SRINIVASAN Samuel C. Park Jr. Professor of Economics, Yale University.