Widening perspectives on social impact bonds

Stefanie Tan, Alec Fraser, Neil McHugh, Mildred Warner

Research output: Contribution to journalArticle

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.
Original languageEnglish
Number of pages10
JournalJournal of Economic Policy Reform
DOIs
Publication statusPublished - 5 Mar 2019

Keywords

  • social impact bonds
  • pay for success
  • performance pay
  • payment by results

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    Tan, S., Fraser, A., McHugh, N., & Warner, M. (2019). Widening perspectives on social impact bonds. Journal of Economic Policy Reform. https://doi.org/10.1080/17487870.2019.1568249