Crime Prevention through Social Finance and Social Impact Bonds

Caterina Galluccio
Additional contact information
Caterina Galluccio: University of Chieti Pescara, Chieti, Italy

Sociology and Social Work Review, 2023, vol. 7, issue 2, 112-120

Abstract: The rate of adoption of the Social Impact Bonds (SIBs) remains substantially low despite the perceived public attention. Even considering widespread interest in the SIBs model, the low adoption mode suggests that the program is still in its early diffusion phase. In a bid to reduce or control crime rates, the SIBs model represents one of the strategies geared toward social reforms. It was initially piloted in 2010 at Peterborough prison with private financing for crucial social programs. The government could only pay returns to successful programs as an underlying condition. Besides its adoption in the United Kingdom, several states in the United States borrowed similar SIBs programs. This paper examined various aspects of measures of converting cases of recidivism into valuable financial assets and the shortcomings of such programs within the domain of the criminal justice department.

Keywords: social impact bond; social finance; crime prevention; criminal justice system; social needs. (search for similar items in EconPapers)
JEL-codes: K40 K42 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://globalresearchpublishing.com/wp-content/up ... ial-Impact-Bonds.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:edr:sswrgl:v:7:y:2023:i:2:p:112-120

Access Statistics for this article

Sociology and Social Work Review is currently edited by Serban Ionut

More articles in Sociology and Social Work Review from International Society for projects in Education and Research
Bibliographic data for series maintained by Serban Ionut ().