Social Impact Bonds: Implementation, evaluation and monitoring

Foroogh Nazari Chamaki () and Glenn Jenkins ()
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Foroogh Nazari Chamaki: Department of Banking and Finance, Eastern Mediterranean University, North Cyprus

No 2016-04, Development Discussion Papers from JDI Executive Programs

Abstract: Traditional approaches to public policy increasingly fail to resolve social challenges, particularly in the field of criminal justice. High rates of juvenile recidivism, for example, are often linked to inequality in education and persistent, long-term unemployment—factors which, while complex, are nonetheless conducive to preventative strategies. Social impact bonds (SIBs) are ‘pay-for-success’ programs that attract private-sector, upfront funding for social interventions. If the program achieves agreed targets, taxpayer funds repay the investor. If the program fails to meet agreed targets, investors take the loss. This innovative form social finance through public-private partnership (PPP) has helped spur efficiencies and improvements in the provision and outcomes of criminal justice services. However, the success of a SIB depends on careful implementation, evaluation and monitoring.

Keywords: Pay-for-success; social service; social impact bond (SIB); public-private partnership (PPP); social finance; service provider. (search for similar items in EconPapers)
JEL-codes: A13 H53 L33 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2016-04
New Economics Papers: this item is included in nep-edu and nep-hme
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Related works:
Journal Article: Social Impact Bonds: Implementation, Evaluation, and Monitoring (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:qed:dpaper:286

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