This site is in transition from the University of Michigan to the University of Houston Law Center.
Upwards of $50 billion in capital needs go unmet each year in Indian Country. This persistent investment deficit negatively affects such vital sectors as infrastructure, community facilities, housing, and enterprise development, undermining the quality of life and limiting opportunities for tribal members.
At the University of Houston Law Center we are exploring a range of factors that impede tribal access to the capital markets and stifle economic development. Our research aims to assist tribes and others by producing and disseminating market-relevant information for tribal decision-makers, prospective investors, regulators, and policy makers.
The project team is examining three primary impediments to tribal access to capital:
- Racism in the tax code - Assess the economic harm caused by differential treatment of tribal tax-exempt debt.
- Liquidity premium - Measure the premium caused by a lack of a securities regulation exemption for tribal municipal debt.
- Market information asymmetries - Develop a Tribal Finance Information Clearinghouse to support tribal economic decision makers, entrepreneurs, and both large and small investors in the tribal finance marketplace.
Recent publications and presentations:
- New: Read Dr. Clarkson's paper, "Tribal Bonds."
- New: See the slides from the NNAEPS, "Capital and Finance Issues."
- See the slides from the NAFC, IRS Panel.
- See the slides, "Selecting Your Financing Team."
- See the presentation slides, "Tribal Bondage."
- Read Clarkson's regulatory comment about the "essential government function" test
Tribalfinance.org provides a mechanism to access the research projects, gather and disseminate information about tribal finance, promote market awareness, and contribute to the prospects for economic development in Indian Country.