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Widening perspectives on social impact bonds

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  • Stefanie Tan
  • Alec Fraser
  • Neil McHugh
  • Mildred E. Warner

Abstract

Social Impact Bonds (SIBs) are a novel financing mechanism for public services delivery. This special issue about SIBs in the UK argues that they necessitate closer examination to understand the implications for all stakeholders. This introductory paper critically explores and challenges dominant practitioner narratives of SIBs as “win-win” solutions for governments and service providers. While SIBs may foster innovation it is unclear if they deliver better value given the complexity of public services. 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.

Suggested Citation

  • Stefanie Tan & Alec Fraser & Neil McHugh & Mildred E. Warner, 2021. "Widening perspectives on social impact bonds," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 24(1), pages 1-10, January.
    • Handle: RePEc:taf:jpolrf:v:24:y:2021:i:1:p:1-10
    DOI: 10.1080/17487870.2019.1568249
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    Cited by:

    1. 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.
    2. Rosella Carè & Stella Carè & Nathalie Lévy & Rabia Fatima, 2023. "Missing finance in social impact bond research? A bibliometric overview between past and future research," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2101-2120, September.
    3. Kosmynin, Mikhail & Jack, Sarah L., 2022. "Alternative investing as brokering: The embedding process of a Social Impact Bond model in a local context," Journal of Business Venturing Insights, Elsevier, vol. 17(C).
    4. Golka, Philipp, 2023. "Impact investing and the politics of leverage: towards a meso-level perspective on derisking," SocArXiv 9uvzw, Center for Open Science.

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