This article is a condensed version of an essay that appears
in the Federal Reserve Bank of Minneapolis 2002 Annual Report.
It is based on a paper titled "Credit Availability in the Minneapolis-St.
Paul Hmong Community," by Maude Toussaint-Comeau and Robin
Newberger of the Federal Reserve Bank of Chicago and Arthur J. Rolnick,
Jason Schmidt and Ron Feldman of the Federal Reserve Bank of Minneapolis.
Congress passed the Community Reinvestment Act (CRA) in 1977, it
had a specific outcome in mind: to encourage depository institutions
to help meet the credit needs of the local communities in which
they operate, including low- and moderate-income neighborhoods.
As one of the federal regulators authorized to implement the law,
the Federal Reserve has a supervisory process in place to measure
whether banks are meeting such credit needs. However, there is a
broader goal implicit in the CRA, and that is to broaden our understanding
of how credit markets operate. Why? Because the well-being of communities
can suffer when households and firms cannot effectively access funding;
when credit markets do not work well, standards of living can fall.
The issues surrounding credit markets are many, and they include
questions about credit availability within certain subsets of a
city or a neighborhood. For example, have lending groups formed
within certain low- and moderate-income communities, or within certain
minority groups? Are there gaps—real or perceived—between banks
and those ethnic communities? These are important questions, and
they are difficult to answer in broad terms. Reviewing results from
CRA exams offers some insights, but such data are naturally limited.
These issues are best examined at a micro level, through a research
program designed to ascertain how households and firms fund themselves.
such research program began in the mid-1990s when the Federal Reserve
Bank of Chicago and the University of Chicago joined together to
survey the credit markets of two Chicago neighborhoods, one black
and the other Hispanic. These surveys revealed the importance of
informal credit for businesses (for example, from family members,
suppliers and so on), and showed that the degree and type of informal
lending varied between the two neighborhoods. To advance this research,
the Federal Reserve Bank of Minneapolis joined with the Chicago
Fed to survey the credit experience of a growing minority group
in Minneapolis-St. Paul: the Hmong, who are refugees from Southeast
The survey of Minneapolis-St. Paul's Hmong business community addressed
the question of how a refugee group with cultural and economic disadvantages
would cope in a localized credit market. The Hmong arrived in the
United States with little or no understanding of English, let alone
of Western business and financial markets. How would they fare in
a society—and more specifically, in an economy—that thrives on forms,
business plans, acronyms, laws and regulations? Would Hmong entrepreneurs
have access to credit from banks?
In the end, the answer is that the Hmong entrepreneurs have done
surprisingly well, at least those who have opted to form businesses
in Minneapolis-St. Paul. According to the survey, it appears that
Hmong business owners use bank financing as much as their neighbors
do at startup. Also, it appears that an engaged banking community
is important to Hmong entrepreneurial success.
article addresses four main questions related to the survey results:
- How available is startup financing for Hmong small businesses
in Minneapolis-St. Paul?
- What sources of credit are actually used?
- Do Hmong entrepreneurs report substantial barriers in their
attempts to obtain credit?
- Are there unique characteristics about the Hmong community or
the local banking environment that have affected the access to
credit of small business owners?
Before addressing the above questions in greater detail, we will
first provide a description of the Hmong in Minneapolis-St. Paul
and of how the survey was conducted. At the conclusion of this article,
we will consider avenues of further research and analysis.
The Hmong experience
The Hmong are immigrants from Laos and other Southeast Asian countries
who settled in the United States as political refugees after the
Vietnam War (for more information on Hmong history, see the sidebar
below). The 2000 census puts the total Hmong population in the United
States at roughly 169,000. About one-fourth of that total, or 41,800
Hmong people, live in Minnesota. St. Paul, with a Hmong population
of 24,389, is home to more than half of all Hmong in the state.
Minneapolis has the next largest population, with 9,595 Hmong residents,
followed by two northern suburbs of Minneapolis, Brooklyn Center
with 1,346 and Brooklyn Park with 1,226. Indeed, the Minneapolis-St.
Paul area boasts the largest Hmong community in the world outside
Hmong have little tradition in formal business ownership. Their
historical economic experience consists primarily of subsistence
farming. Once in the United States, many of the Hmong began agriculture-based
businesses to capitalize on these traditional skills. As they increasingly
congregated in urban areas, they naturally have shifted their business
The largest concentrations of Hmong households and businesses are
located in the Payne-Phalen and Thomas-Dale neighborhoods in St.
Paul and along the Penn Avenue North corridor in Minneapolis. These
neighborhoods are in the core cities and are characterized by well-established
commercial strips composed of aging commercial, industrial and mixed-use
buildings surrounded by older housing stock. The types of businesses
located in these neighborhoods range from small service-oriented
businesses, restaurants and retail establishments to large industrial
and manufacturing operations.
From this description, at least some of the reasons why the Federal
Reserve Bank of Minneapolis chose to study the Hmong may be apparent.
Research suggests that immigrant groups, in general, lack capital
and sufficient credit history to borrow from banks and financial
Because the Hmong population's roots are in an underdeveloped area
of Asia, they had limited experience with a well-developed capitalist
system. This fact, coupled with their relatively recent migration
to the United States as political refugees, suggests that the Hmong
faced cultural and knowledge challenges in accessing credit from
commercial banks and other formal financial institutions.
Second, despite the obstacles, the Hmong community located in Minneapolis-St.
Paul has developed a distinct, recognized and viable small business
sector. This raises the question of how those businesses were financed
and makes it possible to study their access to and usage of formal
Third, the presence of immigrant/refugee small business sectors
is an integral and growing aspect of the vitality of urban neighborhoods
throughout the United States. Diminished access to formal credit
may impede economic activities in these neighborhoods, reduce the
optimal size of immigrant-owned businesses and delay or deter entry
into self-employment by immigrant entrepreneurs.
Hmong history in brief
Although nearly all of the Hmong refugees in the U.S. came
from Laos, their history can be traced to central China, where
their ancestors farmed the plains along the Yellow River.
Around 2700 B.C., local authorities tried to make the Hmong
accept Chinese rule. Instead of submitting, they resisted.
The Chinese responded with greater pressure and the Hmong
resisted more staunchly, beginning a cycle that was repeated
for thousands of years. The Hmong were gradually pushed out
of their homeland and into mountainous areas of southern and
western China. Pressure from Chinese rulers intensified a
few centuries ago, and in the early 1800s, half a million
Hmong fled south and east into what is now Laos, Thailand
The Hmong settled in the region's highest elevations, where
they lived in relative peace for more than a century. They
practiced slash-and-burn, or "swidden," agriculture,
periodically relocating their villages as they cleared new
patches of forest to use as cropland. They maintained their
culture and traditions, which were passed down orally from
their ancestors through a rich store of history and legends.
As it does to this day, their culture centered on the clan,
or extended family group, as the most important unit in society
and involved reverence for nature, ancestors and the elderly.
The peace ended in the late 1950s and early 1960s, when communist
and noncommunist forces began struggling for control of the
region. In Laos, the Pathet Lao movement, backed by Ho Chi
Minh's communist Vietminh forces of North Vietnam, attempted
to overthrow the Royal Lao government. Fearing that the country
would fall to the communists, the U.S. sent CIA agents to
Laos, where they recruited and trained an army of Hmong soldiers
to fight a secret war against the Pathet Lao. The Hmong, who
feared that a communist victory would bring an end to their
way of life, fought bravely in support of the U.S. cause throughout
the 1960s and early 1970s. Tens of thousands of Hmong soldiers
and civilians were killed during the struggle.
In the spring of 1975, not long after Vietnam and Cambodia
fell to the communists, Pathet Lao forces entered Hmong-held
territory in Laos. Facing brutal reprisals, 150,000 Hmong
people—about half the total Hmong population in Laos—fled
to Thailand. For many, the journey was horrific; thousands
died along the way. Some were shot by pursuing Pathet Lao
troops, and others collapsed from exhaustion in the forest
or drowned while attempting to cross the Mekong River to safety.
The survivors gathered in huge refugee camps in northern
Thailand. Small groups began emigrating from Thailand to other
countries soon after their arrival in the camps. The flow
of Hmong refugees into the U.S. began with a few families
in 1975 and swelled to thousands of individuals by 1980.
The U.S. Immigration and Naturalization Service split the
refugees into small groups, regardless of their clan membership,
and dispersed them to dozens of cities throughout the country.
After their initial settlement in the U.S., many Hmong people
relocated to join clan members in other states, congregating
in large numbers in California, Minnesota and Wisconsin.
Today, there are approximately 12 million Hmong people in
the world, according to the Hmong Cultural Center in St. Paul.
Most, about 8 million, live in the mountainous provinces of
southern China. Significant but smaller Hmong populations
remain in the highlands of Vietnam, Laos and Thailand. In
addition to the Hmong community in the U.S., Hmong refugees
from Southeast Asia can be found in France, Canada, Australia
and several other countries.
Sources: The Hmong Cultural Center and The Spirit
Catches You and You Fall Down by Anne Fadiman.
Creating a survey and getting a sample
As noted earlier, the survey for this project was based on a questionnaire
developed by the University of Chicago and the Federal Reserve Bank
of Chicago. This original survey was edited to focus on questions
pertaining to small business development and to account for Hmong
cultural differences. The Wilder Research Center in St. Paul, a
division of the Amherst H. Wilder Foundation, was retained to manage
the implementation of the survey, including translation, sample
selection and survey interviews. During the translation process,
language barriers proved challenging; for example, there are no
Hmong words for "access" and "credit," which
form the very basis of the survey. For these words and many others,
a large number of Hmong words were needed to describe an English
term. (For more information on language and cultural differences
related to the survey, see the sidebar below). Even in its abbreviated
form, the survey took from three to four hours to complete, compared
to about two hours for the original Chicago survey.
extensive effort was undertaken to compile a listing of all known
Hmong businesses in the greater Minneapolis-St. Paul area, most
of which were located along two primary commercial strips in St.
Paul. This process identified 170 Hmong businesses. Of these, 121
(71 percent) completed surveys, 36 refused, and 13 could not complete
the survey within the study period (owners were surveyed from November
2000 through April 2001).
Next, we identified a control, or comparison, group of non-Hmong
business owners by obtaining a list of businesses whose ZIP codes
matched those in the Hmong sample. Of the 220 existing, for-profit
enterprises from this list, 131 completed the survey (60 percent),
41 refused and 48 could not complete it within the study period.
Given our interest in studying the relative ability of Hmong small
business owners to access credit from formal financial institutions,
we further limited the comparison group to 93 owners who identified
themselves as "white" or "Caucasian," in the
belief that this group would have a highly developed level of access
to credit that would serve as a useful benchmark.
Minding the language and culture gaps
A good translation rarely corresponds word-for-word with
the original. However, a fundamental rule of survey research
is to make sure that all participants answer identical questions,
even when a survey is conducted in more than one language.
In designing the Hmong version of the Federal Reserve survey,
the Wilder Research Center (Wilder) encountered special challenges
that arose from the nature of the Hmong language and the financial
topics covered in the survey. The research team took great
pains to minimize the inevitable translation and culture gaps.
First, an introduction to the Hmong language. Hmong is closely
related to a number of other Asian languages, sharing characteristics
with Lao, Thai and Chinese. Most Hmong words have one syllable,
made up of an initial consonant followed by a vowel sound.
The vowel sound is voiced in one of eight tones, ranging from
"high" to "low falling." In Hmong, a word's
tone, placement and context determine its meaning.
There was no widely accepted written form of Hmong until
the 1950s, when two missionary linguists in Laos developed
the Romanized Practical Alphabet, or RPA. In the RPA, most
Hmong words have three components: a consonant or consonant
cluster, representing the initial sound of the word; a vowel
or vowel cluster, representing a single vowel sound and a
final, unvoiced consonant representing the vowel's tone. For
example, the words paj(flower) and pam(blanket)
share the initial consonant "p" and the vowel "a"
(pronounced "ah"), but the "j" in paj
indicates a high falling tone for the "ah" sound,
while the "m" in pamindicates a low falling
Hmong has two mutually intelligible dialects—White and Green—that
are analogous to the American and British forms of English.
The writing system is based on White Hmong pronunciations,
making White Hmong the preferred dialect for written communications—including
the Hmong version of the survey instrument used in the Federal
For an initial translation of the Fed survey, Wilder contracted
with the University of Minnesota Translation Laboratory. Once
the initial translation was completed, Lue Thao, a Wilder
survey project coordinator and native Hmong speaker, reviewed
and fine-tuned the questions. He conducted read-throughs and
mock interviews with the Hmong interviewers who later conducted
the survey. An advisory group of Hmong business and community
leaders then reviewed the draft for cultural appropriateness.
As our cover story indicates, translating the survey instrument
was a challenge. Hmong is the expression of an ancient culture
with close ties to nature; it has no words for many of the
credit- and business-related English words in the survey.
Long strings of Hmong words were required to convey certain
concepts. "Bank" became txais hauv chaw cia nyiaj,
or "house that keeps money," and "mortgage"
became txais cov niaj yuav tsev,or "to borrow
or lend money to buy a house." The Hmong equivalent of
"employee benefits" required nine words that translate
roughly as "paying for the expense of an employee who
gets sick." The survey's key word—"credit"—was
translated into a phrase meaning "something you have
to pay back."
The survey was conducted by telephone or in person, with
interviewers reading the survey instrument aloud and writing
down the responses. Hmong respondents had the option of being
interviewed in Hmong or English, depending on their comfort
level with each language. The interview was then conducted
entirely in the chosen language to maintain consistency.
In the Hmong version, some English words appeared in parentheses
near their Hmong translations. If the respondent found the
Hmong equivalent of an English term confusing, interviewers
could explain the term, in Hmong, using the meaning of the
original English word as a guide. However, the interviewers
were trained to stick closely to the script and avoid excessive
explanation in order to keep the interviews consistent.
Wherever possible, translators and reviewers carefully modified
the survey to eliminate questions or phrases that might be
offensive in traditional Hmong culture. But due to the nature
of the study, some questions about business income and financing
had to be asked. According to Thao, such questions can make
Hmong individuals uncomfortable due to a fear of appearing
boastful if the income is large or unsuccessful if the income
"I have a feeling that for some of the dollar amounts,
we may not have the exact answers from many of the Hmong respondents,"
says Thao. But he emphasizes that any discrepancies in these
dollar figures would have little effect on the study's main
findings, which focus more on credit access and sources than
on income figures.
Information on the Hmong language is from Handbook
for Teaching Hmong-Speaking Students, published by
the Southeast Asia Community Resource Center and California's
Folsom Cordova Unified School District.
Characteristics and caveats
A brief comparison of business and owner characteristics suggests
two main findings. First, although the control group was selected
solely on the basis of co-location with Hmong businesses, this group
appears quite similar to the Hmong owners in several other ways;
for example, both groups are in the same types of business (mostly
retail and personal services), both depend on neighborhood income
for profitability and both groups are comparably educated.
Second, most of the noticeable differences between the Hmong and
control group owners would appear to disfavor access to credit for
the Hmong. For example, the Hmong business owners were roughly 10
years younger than their control counterparts. To the extent that
age is a proxy for credit history and creditworthiness, the substantially
younger ages of the Hmong owners could be an indicator of greater
potential risk to lenders, resulting in diminished access to credit.
Before we proceed to a review of the survey results, it is important
to recognize the limitations of this survey. First, the survey was
originally designed to capture the use of informal lending sources
and, likewise, may not provide a thorough examination about access
to all credit. Following that, it is difficult to get accurate readings
on whether credit applicants were discouraged from applying for
loans, and discouragement is an important consideration when making
assessments about credit access. Also, small sample sizes mean that
results can be affected by changes in the way answers are recorded.
And finally, the information below that was gleaned from focus groups—which
included a relatively small number of participants—is, of course,
more qualitative than quantitative.
Questions and answers: An overview of the survey results
Once again, our primary interest in this research project was to
determine whether Hmong small business owners had access to credit
that was comparable to that of white business owners. Specifically,
were Hmong business owners able to utilize credit from formal financial
institutions at the same level as their white counterparts?
We found that the Hmong owners utilized formal bank financing to
the same extent as the control group when the business was started,
but at slightly lower rates thereafter. With respect to credit access
as a self-identified problem, we did not find substantial differences
between the Hmong and white owners.
For a closer look at the results, let us now address the four questions
introduced at the beginning of this article.
How available is startup financing for Hmong small businesses
in Minneapolis-St. Paul?
Overall, the Hmong businesses appeared quite similar to the control
group in terms of total startup funds, the sources of startup financing
and the relative shares provided by each source. One difference
between the two groups involved the use of informal funding sources.
While both the white and Hmong owners made extensive use of such
funds, Hmong owners utilized personal savings at higher rates and
levels than their white counterparts.
owners who acquired preexisting businesses reported marginally lower
startup capital amounts than the white owners ($111,618 as opposed
to $134,172), but the survey responses indicated virtually no differences
in the amount of funds used for initial startups, with both groups
using roughly $22,000 for such businesses.
What sources of credit are actually used?
Of course, the fact that the Hmong owners used roughly the same
amount of funds as white owners to start their businesses does not
necessarily imply that the Hmong had the same access to credit from
formal financial institutions. To more fully address the question
of access to credit, we next explored the various sources of startup
capital that were employed, based on the following three broad categories:
internal sources, or any funds provided by the owner, including
the use of personal credit cards and home equity loans; formal external
sources, or loans from formal lenders and government programs; and
informal external sources, or loans, gifts and investments from
relatives and other personal contacts.
A key finding is the sizable number of owners who were able to
obtain external funding from a formal source. Over 30 percent of
both groups made use of such financing, with small business loans
from banks accounting for most of the responses in each group. One
quarter of the Hmong owners reported that they received a loan from
a bank (or other formal lender), compared to 30 percent of the control.
Hmong owners differed from the control group with respect to their
utilization of personal savings. While the vast majority in each
group relied on internal sources to finance their establishments,
white owners were not as likely to directly invest their savings
into the business. Nearly 90 percent of the Hmong owners reported
using personal savings during the period of business formation,
compared to less than 70 percent of the control group. The average
share of total startup financing provided by internal sources also
differed slightly between the two groups, accounting for nearly
60 percent of the typical Hmong owner's startup funds vs. roughly
50 percent for the average white owner.
Do Hmong entrepreneurs report substantial barriers in their
attempts to obtain credit?
We searched for evidence of unequal access in a series of questions
that were designed to allow owners to directly identify credit access
as a problem or barrier. If the Hmong owners were systematically
receiving less access to credit than their white counterparts, their
responses would, most likely, indicate that problem.
However, we found that where a problem was identified, it was not
unique to Hmong businesses. In cases when a loan was not sought,
both groups reported similar reasons for not seeking it. For example,
a loan may have been unnecessary, the owner may have preferred not
to use credit or there was a lack of knowledge about the credit
process. While both groups reported little existence of bank-related
financial barriers at startup, credit access appears to be an obstacle
to the subsequent growth of small businesses in general. This was
particularly true for the Hmong businesses. However, this reflects
the fact that their businesses had fewer years in operation.
In summary, the Hmong business owners were no more likely to report
discrimination in the credit market than were their white counterparts.
Lastly, we searched for signs that owners were operating under
financial constraints. Business owners were asked how they would
utilize a $20,000 windfall. Nearly 75 percent of the Hmong owners
stated that they would invest the funds in a new or existing business,
compared to only 20 percent of the white control. This is consistent
with the relative newness of the Hmong businesses; the white owners,
with longer-established businesses, would experience fewer financing
Financial constraints can also be indicated by the response of
owners to bad times. Hmong- and white-owned businesses that were
in existence for at least three years and experienced a period of
near failure were questioned about the strategies they used to survive
the downturn in business. While both groups of owners were most
likely to increase their own work hours or reduce input expenses
in reaction to bad times, strategies involving credit use differed
markedly. Roughly 40 percent to 50 percent of the white owners reported
using a credit-related response—either borrowing more, obtaining
suppliers' credit, increasing credit card balances or failing to
pay debts—while only 6 percent to 11 percent of the Hmong owners
cited such strategies.
Are there unique characteristics about the Hmong community or
the local banking environment that have affected the access to credit
of small business owners?
The Hmong entrepreneurs have high educational attainment, show
a willingness to invest large sums of money in their businesses
and are open to leveraging their personal savings. These traits
provide positive signals about the viability of Hmong businesses,
which may partially explain the Hmong success in accessing credit.
But it is difficult to draw definitive conclusions from these results.
To augment the data collected from the survey and to further explore
this question, we conducted interviews with two focus groups, one
consisting of representatives of several banks in the area of St.
Paul that was surveyed and a second consisting of Hmong community
leaders. Focus group participants were also asked to respond to
a summary of our preliminary analyses, as a check on the accuracy
of the survey and the conclusions we drew from it.
Hmong focus group generally agreed with the survey's findings that
qualified Hmong business owners were likely to have adequate access
to bank financing. In response to our question about the local financial
environment, both focus groups described similar themes that were
necessary to ensure proper access to credit: cultural understanding,
willingness to educate and flexibility in lending programs.
Cultural understanding. On the first point, the Hmong focus
group said that the banking sector needed to be sufficiently knowledgeable
about Hmong culture and its emphasis on relationships. For example,
a Hmong grocery store owner who happened to be located on a block
with similar businesses might appear to be a high-risk borrower,
given the level of competition the store faced. Such a concern,
however, might be mitigated by the knowledge that each store primarily
served a specific subset of the Hmong community's clan structure,
thus assuring profitability.
The bankers sounded a similar note: Establishing a personal relationship
between the bank and the community was seen as paramount, the bankers
maintained, given the high priority that is placed on relationships
within Hmong culture. Examples included conducting outreach programs,
participating in community organizations and sponsoring neighborhood
events and festivals.
Education. Secondly, a willingness to educate Hmong borrowers
and potential borrowers was viewed as very important by the Hmong
focus group. Rather than simply denying requests from potential
borrowers because they lacked technical documents (business plans,
cash-flow analyses, etc.), loan officers needed to explain what
documentation was required and assist the business owners in producing
it, or redirect them to an organization that could perform these
On this point, the bankers spoke with a clear view: An effective
way to educate the Hmong about the financial process was to hire
Hmong employees. Hiring Hmong personnel was viewed as a critical
component of a successful Hmong lending program, both in terms of
being able to relate to applicants and helping to educate them on
issues such as saving, applying for a loan and documenting business
Flexibility. Several Hmong participants also stressed the
importance of flexibility and the willingness of banks to deviate
from traditional loan analysis procedures where appropriate, such
as using alternative sources to vouch for the creditworthiness of
a potential borrower. Here again, a crucial factor under such arrangements
was the employment of Hmong loan officers and/or loan analysts,
since these individuals could advocate for a loan on the basis of
the borrower's character.
Flexibility was also a major theme of the banking focus group.
For example, the bank might consider measuring the income of the
business owner's entire family, as opposed to only using the direct
earnings of the owner, for calculating loan-to-income ratios. Lending
to Hmong-owned businesses was viewed quite favorably by all of the
banking focus group participants. Specific mention was made of the
entrepreneurial disposition of the Hmong, their ability to leverage
resources from multiple sources and their willingness to repay loans.
Finally, although Hmong representatives felt that banks were successful
in meeting the community's credit needs, they indicated that more
could be done to improve overall access to credit. While few participants
believed that Hmong individuals were subject to systematic discrimination
from the banking sector, the general consensus was that many business
owners felt that bank loan requests would be rejected because of
limited credit histories and the inability to produce required documentation—factors
that could be mitigated by more education.
The need for more research
When exploring issues related to credit markets, some researchers
focus on the bank as the unit of analysis; that is, they review
bank lending data and draw inferences about whether local communities
were adequately served by analyzing such data. With the work in
Chicago and, especially, with this latest study in Minneapolis-St.
Paul that includes a comparison group, we can begin to view these
credit markets from the "inside out" and gain deeper insight
into how they operate.
any survey is a snapshot of a particular community at a particular
time; as such, it cannot provide a clear picture from every possible
angle. Our survey of Hmong business owners answers some important
questions, but it raises other issues. For example, how do other
ethnic groups manage in Minneapolis-St. Paul? How do credit markets
operate in other cities? Have the Hmong had a similar experience
in other areas where they have settled? Can we transfer successful
business practices—from both the lending side and the consumer side—from
one city or neighborhood to the next?
Questions persist, but this is only the beginning of our research
efforts in this area. In the coming years, the Minneapolis Fed,
in partnership with other Federal Reserve banks, plans to extend
this research to communities in cities throughout the country and
to revisit neighborhoods that have been previously surveyed. Taken
together with the earlier work in Chicago, and with the addition
of more research in the future, this snapshot will expand into a
more complete picture of how credit markets work.
David Fettig is vice president of public affairs at the Federal
Reserve Bank of Minneapolis, and Arthur J. Rolnick serves as senior
vice president and director of research.
For the complete research paper on the Hmong small business
survey, including data, visit minneapolisfed.org/research/studies/hmong.
From there you may link to other research on this subject, including
the previous work by the Federal Reserve Bank of Chicago on Hispanic
and black neighborhoods in Chicago.
Wing Young Huie is an award-winning photographer who has exhibited
locally and nationally. In 2000, the Minneapolis StarTribune
named him Artist of the Year. His photographs are in the permanent
collections of the Walker Art Center, the Minneapolis Institute
of Arts, the Minnesota Historical Society and the Museum of Fine
The images accompanying this article are from a collection
of photographs that were taken for the Federal
Reserve Bank of Minneapolis 2002 Annual Report. To view a
selection of the images that appear in the report, visit the report
site and click on "Photo essay."