Sebastian Edwards is the Henry Ford II Professor of International Business Economics at the Anderson Graduate School of Management at the University of California, Los Angeles (UCLA). From 1993 until April 1996, he was the Chief Economist for the Latin America and Caribbean Region of the World Bank. He is also a research associate of the National Bureau of Economic Research (NBER), a member of the advisory board of Transnational Research Corporation and co-chairman of the Inter American Seminar on Economics (IASE). He has been President of the Latin American and Caribbean Economic Association (LACEA), an international professional association of economists with academic interests in Latin America and the Caribbean region. He is a member of the Scientific Advisory Council of the Kiel Institute of World Economics, Kiel-Germany, and a member of California Governor Arnold Schwarzenegger’s Council of Economic Advisors.