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Frank R. Gunter

Department of Economics:  Professor

Senior Fellow, Foreign Policy Research Institute
  • Pennsylvania State University, B.A.
  • Johns Hopkins University, M.A., Ph.D.
Professor Gunter has received three major and multiple minor awards for excellence in teaching economics. His service course is Eco 1: Principles of Economics. With respect to upper-level courses, he alternates between teaching Economic Development, the Political-Economy of China, and the Political-Economy of Iraq. One of the initial organizers of the Lehigh in China program, he led four student groups to the People's Republic of China for five-week courses on the country's economy and business environment.

Professor Gunter is the author of The Political Economy of Iraq: Restoring Balance in a Post-Conflict Society (Edward Elgar Publishing, 2013) which was selected by Choice magazine as one of the outstanding academic titles of the year. It is now in its third hardback printing with a paperback and Arabic translation expected late in 2014. Other research efforts include the economics of entrepreneurship, corruption, capital flight, microfinance, and economic development during conflict. His research perspective is pragmatic and most of his work combines quantitative and qualitative analysis. In addition to Iraq, he has published research on the People’s Republic of China, Colombia and Latvia.

He was the Senior Civilian Economics Advisor for Multi-National Corps – Iraq at Camp Victory, Iraq (July 2008 – July 2009). He was responsible for briefing the Commanding Generals of Multi-National Corps/Force on Iraqi economic development issues including impact of corruption, oil prices, state owned enterprises, and budget decisions. Previously, he was assigned as military Chief of Economics Section for Multi-National Force – Iraq (MNF-I) in Baghdad, Iraq with similar responsibilities (November 2005 – May 2006). He has also been a consultant for the United Nations Development Program, the U.S. Department of the Navy, the Inter-American Development Bank as well as government entities in China and Colombia.
Professor Gunter is the 2014-2015 Chairman of the University Faculty Policy Committee. which is responsible for ensuring the quality of undergraduate education at Lehigh. He has previously served as Chairman of the Faculty Compensation Committee. He is also the CBE Secretary and Parliamentarian.

Other Activities:
A retired U.S. Marine Corps Reserve Colonel, he was mobilized after 9/11 to command a 6,000 Marine and Sailor combined arms training exercise (CAX 7/8-02). He later served as president of the Marine Reserve Mobilization Delay, Deferment, and Exemption Board; Deputy Director of the Tsunami Coalition Coordination Center in Thailand; and Deputy of Coalition Operations in Iraq. Prior to joining the Lehigh Faculty in 1983, he spent two years as a country risk analyst for the First National Bank of Chicago.

 Lehigh Faculty Compensation

Research Interests
  • Political economy of Iraq
  • Entrepreneurship
  • Corruption
  • Capital flight
  • Economic development during conflict
Selected Publications and Working Papers
Works In Progress
People's Republic of China
  • "Capital Flight from China: 1984-2001," China Economic Review, Vol. 15, 2004, pp. 63-85.
  • “The Relationship between Foreign Direct Investment and Capital Flight in China (1984-1999)” with Haizhen Yang, (Published in Chinese) China Economic Quarterly, Vol. 1, No. 3, 2002, pp. 715-722.
  • "Capital Flight from the People's Republic of China: 1984-1994," China Economic Review Vol. 7, No. 1, 1996.
  • "Market Reform and the Limitations of Monetary Policy: the Case of Colombia" with Carolyn Stumph, Ensayos Sobre Politica Economica, No. 38, March 2001.
  • "Absolute Stability and Comparative Deterioration: Has Apertura Gone Too Far or Not Far Enough?" in Colombia: An Opening Economy? Colleen Callahan and Frank R. Gunter (eds.) Stamford, Connecticut: JAI Press, 1999, pp. 343-353.
  • Colombia: An Opening Economy? Colleen Callahan and Frank R. Gunter (Eds.) Stamford, Connecticut: JAI Press, 1999.
  • "Apertura Economica," in Fabio Giambiagi (ed.) Colombia: Informe Socioeconomico Departamento de Desarrollo Economico Y Social, Banco Interamericano de Desarrollo, Abril, 1994, pp. 32-38.
  • The Colombian Economy: Issues of Trade and Development Alvin Cohen and Frank R. Gunter (Eds.) Boulder, Colorado: Westview Press, 1992.
  • "Colombian Capital Flight: 1982-1990," In Alvin Cohen and Frank R. Gunter (Eds.) The Colombian Economy: Issues of Trade and Development, Boulder, Colorado: Westview Press, 1992.
  • "Colombian Capital Flight: Issues of Policy and the Drug Trade," Testimony on the Impact of Capital Flight on Latin American Debt before the Subcommittee on Deficits, Debt Management and International Debt of the U.S. Senate Finance Committee, First Session, Washington D.C.: Government Printing Office, June 12, 1991, pp. 18-25, 37-42.
  • "Colombian Capital Flight," Journal of Interamerican Studies and World Affairs Vol. 33, No. 1, Spring, 1991, pp. 123-147.
Corruption, Capital Flight and Country Risk
  • "Capital Flight" International Encyclopedia of the Social Sciences, 2nd edition, William A. Darity, Jr. (ed.) Detroit: Macmillan Reference, 2008.
  • “Corruption," in Encyclopedia of Social Problems, Vol. 1, Vincent N. Parrillo (ed.). Thousand Oaks, CA: SAGE, 2008.
  • "The Miracle of the Latvian Lat: Its Fragile Foundation" with Nicholas W. W. Balabkins, in Jürgen G. Backhaus and Günter Krause (eds.) On Political Economy of Transformation: Country Studies, Marburg: Metropolis Verlag, 1997.
  • "Country Risk," In Peter Newman, Murray Milgate and John Eatwell (Eds.) The New Palgrave Dictionary of Money and Finance, New York: Stockton Press, 1992, pp. 506-509.
  • "Thomas Jefferson on the Repudiation of Public Debt," Constitutional Political Economy Vol. 2, No. 3, Fall, 1991, pp. 283-301.
Economic Education
  •  "Simple Model of Entrepreneurship for Principles of Economic Courses" Journal of Economic Education, Vol. 43, No. 4, 2012, pp. 1-11. (For a longer version of this article, appropriate as a handout in a principles course, click here.

In the Media


Office Information
Office: 470 RBC
Phone: 610-758-4540
Fax: 610-758-4677
Courses Taught

Undergraduate Courses

 Principles of Economics (Eco 1)
• Money, Banking, and Financial Markets (Eco 29)
• Economics and Business of the People’s Republic of China (Eco 197)
• Economic Development (Eco 303)
• Economic Development in the PRC (Eco 342)
• Political Economy of Iraq (Eco 345)

Graduate Courses

• Money, Banking and Macroeconomics (GEco 403)
• International Trade Theory (GEco 472)
• Country Risk Analysis (GEco 496)



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