Widening perspectives on social impact bonds

Tan, Stefanie; Fraser, Alec; McHugh, Neil; Warner, Mildred E.

doi:10.1080/17487870.2019.1568249

Cited by 39 publications

(28 citation statements)

References 27 publications

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“…Evidently Social Impact Bonds are a novel financing mechanism for public services delivery. SIBs are a strategically ambiguous policy tool and policymakers should be cautious about SIBs due to contractual complexity and issues with ethics, governance, accountability and transparency (Tan et al, 2019).…”

Section: Social Impact Bonds Feasibility Criteriamentioning

confidence: 99%

Possibilities of Social Bonds Using to Finance Higher Education Institutions

Konovalova

2022

Innovation, Technology, and Knowledge Management

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In many countries, funding for higher education institutions is insufficient and requires the search for new financial instruments and financing models. One such financing model could be the issuance of social impact bonds aimed at improving the efficiency of higher education institutions. The study focuses on the use of financial instruments as social bonds for additional funding of higher education institutions. The peculiarities of social bonds and the possibilities of their application in the field of higher education are explored in the paper. The results of the study comprise three proposed innovative approaches to the development of a mechanism for the issuance of bonds. The first approach assumes that the issuer of social bonds in favour of the university is a bank or other financial institution. The second approach is based on the methodology of issuing social bonds by a university with the participation of the state. The third approach to the use of social bonds is the creation of a platform for financing long-term educational programs; it can be done with the participation of a large company implementing large-scale socio-economic projects. Such platform will have a great social and economic effect.

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Section: Social Impact Bonds Feasibility Criteriamentioning

confidence: 99%

Possibilities of Social Bonds Using to Finance Higher Education Institutions

Konovalova

2022

Innovation, Technology, and Knowledge Management

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“…Briefly, IBs represent a partnership between a commissioner (usually represented from a public body), a service provider, and impact investors to achieve a predetermined outcome. Private investors provide the upfront investment and the commissioner remunerates the investors with a fixed return beyond the initial investments, as long as the intervention achieves the expected outcome [21].…”

Section: Digital Inequalities Social Emotional Well-being Must Generamentioning

confidence: 99%

Roadmapping New Impact Bonds in a Post-COVID World: Insights from Case Studies in the Education Sector

2021

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In the last year, COVID-19 has tested both advanced and developing economies. Within such a context, the global learning crisis is expected to increase due to difficulties in accessing technology or in receiving learning support. Such a huge need, globally identified with the Sustainable Development Goal number 4 (hereafter SDG 4), implies the need for large-scale solutions from governments around the world, especially in terms of dedicated financial resources. In this context, the impact-investing sector offers an innovative financial tool, i.e., impact bonds (IBs), which are widely applied in the education sector, even if their limitations and potentials remain unexplored in academia. Based on these considerations, our work explores whether and how IBs can contribute to funding and improving educational outcomes, with a focus on their potentials in the post-COVID world. This study adopts a qualitative approach by performing a case study analysis of four IBs. Our pilot analysis is based on the following key dimensions: (i) partnerships and contractual arrangements; (ii) financial terms; and (iii) measurement and impact. The results offer interesting insights by deriving a preliminary model on the role of IBs in the post-COVID-19 world.

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“…2. For an extensive review of the literature on SIBs, see Fraser et al (2018b) and Tan et al (2021). 3.…”

Section: Notesmentioning

confidence: 99%

The Governance of Social Risks: Nurturing Social Solidarity through Social Impact Bonds?

Guter-Sandu

2021

New Political Economy

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Despite having been around for a decade now, Social Impact Bonds (SIBs) payment by result contracts funding social programmesare still a niche instrument. Constituting but a fraction of the overall impact investment sector, they were expected to grow much faster and augur a new model of pursuing social policy objectives. Whilst this has not yet occurred, they nevertheless continue to benefit from a great degree of political support and academic interest. But outside of the practitionerfocused literature, the scholarship investigating SIBs has largely identified financialisation and the erosion of social solidarity as the main dynamics underpinning this development. This article argues that it is important to also attend to SIBs as expressions of transformations occurring within the design and pursuit of social policy objectives. By looking at SIBs as a form of governance of social risks, the article argues that SIBs nurture their own forms of social solidarity. Based on three distinguishing tenets of SIBs, three types of solidarities are emphasised: inter-temporal, cross-sectoral and risk-insurance solidarities. Whilst these can spur social inclusion, innovation and collaboration, the article discusses how they can also be spurious and can come undone.

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Widening perspectives on social impact bonds

Cited by 39 publications

References 27 publications

Possibilities of Social Bonds Using to Finance Higher Education Institutions

Possibilities of Social Bonds Using to Finance Higher Education Institutions

Roadmapping New Impact Bonds in a Post-COVID World: Insights from Case Studies in the Education Sector

The Governance of Social Risks: Nurturing Social Solidarity through Social Impact Bonds?

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