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Using social impact bonds to spur innovation, knowledge building, and accountability

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  • Dan Bloom
  • David Butler
  • Timothy Rudd

Abstract

In this article, we propose a vision of a social impact bond (SIB) model that moves beyond just achieving cost-savings to spurring innovation, knowledge-building, rigorous evaluation, and, potentially, outcomes that go beyond cost savings. We discuss two of the key rationales for SIBs: securing new resources to expand programs more broadly and ensuring that government only pays for successful programs that save money. Both are important goals but are also limited. We therefore propose a more expansive vision of the SIB model.

Suggested Citation

  • Dan Bloom & David Butler & Timothy Rudd, 2013. "Using social impact bonds to spur innovation, knowledge building, and accountability," Community Development Innovation Review, Federal Reserve Bank of San Francisco, issue 01, pages 057-062.
    • Handle: RePEc:fip:fedfcr:00003
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    Cited by:

    1. Mario La Torre & Annarita Trotta & Helen Chiappini & Alessandro Rizzello, 2019. "Business Models for Sustainable Finance: The Case Study of Social Impact Bonds," Sustainability, MDPI, vol. 11(7), pages 1-23, March.
    2. Paweł Mikołajczak, 2023. "Comparative study of social impact bonds – capital per beneficiary and scheme duration," Bank i Kredyt, Narodowy Bank Polski, vol. 54(2), pages 191-220.

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