Social finance as a public policy instrument

Mariacristina Rossi, Dora Gambardella and Riccardo Salomone
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Dora Gambardella: University of Naples Federico II
Riccardo Salomone: University of Trento

No 178, CeRP Working Papers from Center for Research on Pensions and Welfare Policies, Turin (Italy)

Abstract: We address the high social impact household savings could generate if channeled (at least, partially) into social impact investments in a win-win formula for both households and society as a whole. More specifically, we focus on two financial products which both have a monetary return along with a well-defined social impact: Social Bonds (SB) and Social Impact Bonds (SIB). While social bonds reduce the net return in favor of setting up a social program, social impact bonds are a breakthrough concept that combines traditional investment, be it risky or risk-free, with a social connotation in a unique public/private partnership.

Pages: 18 pages
Date: 2018-02
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Persistent link: https://EconPapers.repec.org/RePEc:crp:wpaper:178

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