The Senate Foreign Relations Subcommittee on Western Hemisphere, Peace Corps and Global Narcotics Affairs held a hearing on democracy in the Americas.   Panel One: Roberta Jacobson, deputy assistant secretary of State , Bureau of Western Hemisphere Affairs Panel Two: Michael Reid, editor, "The Americas," the Economist, London, U.K. Jorge I. Dominguez, senior adviser for international studies, Dean of Faculty of Arts and Sciences, Harvard University Daniel Fisk, vice president for policy and strategic planning, International Republican Institute