Description
Book SynopsisThis book examines Social Impact Bonds as a means to finance social services, and how mainstream and heterodox economic theory can help understand their existence and emergence.
Table of ContentsPreface Acknowledgements List of Tables List of Figures INTRODUCTION Part A: The Characteristics and Emergence of the Social Impact Bond Model Chapter 1: The Structure of Social Impact Bonds Introduction I. Defining SIBs II. Public versus Private Dimensions in Social Service Provision III. Defining Features of SIBs IV. Conclusion Chapter 2: The Short History of SIBs and the Development of the Enabling Field Introduction I. The Scale of Impact Bonds by Sector II. The Distribution of SIBs by Country III. SIBs Delivering results IV. Investor returns V. Conclusion Part B: Efficiency-Based Explanations of SIB Emergence Chapter 3: The Rationale of SIBs Introduction I. Claim 1: SIBs Allow More Social Programs to be Delivered II. Claim 2: Better programs: Higher quality and greater effectiveness III. Claim 3: Better system: IV. Conclusion Chapter 4: Social Impact Bonds as Public Private Partnerships Introduction I. Review of the Public Private Partnership (PPP) Infrastructure Delivery Model II. SIBs as Public Private Partnerships III. Economic Theory and Modeling of PPPs and SIBs IV. A Comparative Framework for Evaluating SIBs versus conventional procurement V. Conclusion Part C: The Political Economy of SIBS Chapter 5: Private Institutional Participants in SIBs Introduction I. The Institutional Participants in SIBs II. Service Providers: The Significance of the Non-Profit Form III. Altruism, Intrinsic Motivation and Reciprocity IV. Implications for SIB Implementation and Design V. Conclusion Chapter 6: Government Introduction I. Motivations of Government II. Relative Cost Critique III. Theories of the State IV. Implications for SIB Design and Regulation V. Conclusion Chapter 7: The Political Economic Context of SIB Emergence Introduction I. Defining neoliberalism II. Financialization III. Comparative Analysis of SIB Leaders and Followers IV. Side note: The UK Versus the US V. Conclusion Chapter 8: Development Impact Bonds Introduction I. Expanding Enabling Fields II. Examples of DIBs III. Other Observations on Existing DIBs IV. A Closer Look at the Claimed Rationale of Results-Based Aid and its Challenges V. Are DIBs the Future for Foreign Aid? VI. DIBs and the Need for Foreign Aid Chapter 9: Policy Recommendations, Reforms and Alternatives Introduction I. Recap of Policy Recommendations II. The Micro Alternative: Conventional delivery through (re)building state capacity III. The Macro Alternative: Universalism vs. Individualized Approaches IV. Conclusion References Appendix A Review of Meta-analytical Studies on Common SIB Policy Sectors Appendix B: Sector Proportion of SIBs, by Country Appendix C: Reported and Estimated SIB Maximum and Expected Investor Returns Appendix D: Description of Value for Money Analysis in Applied Public Finance Appendix E: Social Investment and Entrepreneurship Concepts Appendix F: Development Impact Bonds
