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Mainstreaming social impact bonds: A critical analysis

Author

Listed:
  • Walker, Thomas
  • Goubran, Sherif
  • Karami, Moein
  • Dumont-Bergeron, Adele
  • Schwartz, Tyler
  • Vico, Kalima

Abstract

Social impact bonds (SIBs) are new financial contracts that offer private investors and service providers to fund social services. To date, there is relatively little empirical and theoretical evidence on the performance, advantages, and disadvantages of SIBs. In addition, data pertaining to completed and ongoing SIBs is comparatively sparse, the available literature is mostly thematically-driven, and public disclosure requirements are limited. Through a comprehensive and up-to-date analytical review of the extant literature in the field, we aim to reveal some of these shortcomings and discuss issues that need to be addressed if SIBs are to become a mainstream financing tool.

Suggested Citation

  • Walker, Thomas & Goubran, Sherif & Karami, Moein & Dumont-Bergeron, Adele & Schwartz, Tyler & Vico, Kalima, 2023. "Mainstreaming social impact bonds: A critical analysis," Finance Research Letters, Elsevier, vol. 53(C).
    • Handle: RePEc:eee:finlet:v:53:y:2023:i:c:s154461232200722x
    DOI: 10.1016/j.frl.2022.103546
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    References listed on IDEAS

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    More about this item

    Keywords

    Social impact bond (SIB); Bibliometric analysis; Database assessment; ESG; Financial innovation;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B55 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Social Economics
    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation

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