New Development: From Social Impact Bonds to Impact Bonds: an outcomes-based framework

V. Buffa (), M. Tira () and B. Le Pendeven ()
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B. Le Pendeven: Audencia Business School

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Abstract: Since their emergence in 2010, Impact Bonds (IBs) have witnessed a significant diversification, with a relative correspondence to the prototypical model. By acknowledging that Impact Bonds have stretched from the original model in practice, this article aims to propose a framework to classify them according to the nature of the outcome pursued by the intervention. Thus, we contribute by expanding the concept of cost-saving and by proposing three types of IB categories through analytically linking outcomes to quantifiable gains.

Keywords: Public Innovation; Impact Evaluation; Impact Bonds; Outcomes-Based Contracting; Evidence-Based Policy (search for similar items in EconPapers)
Date: 2024-06
Note: View the original document on HAL open archive server: https://hal.science/hal-04812220v1
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Published in Public Money and Management, 2024, 44 (1), ⟨10.1080/09540962.2023.2206047⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04812220

DOI: 10.1080/09540962.2023.2206047

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