IDEAS home Printed from https://ideas.repec.org/a/spr/jsecdv/v25y2023i1d10.1007_s40847-022-00213-0.html
   My bibliography  Save this article

Development impact bonds in developing countries: an emerging innovation for achieving social outcomes

Author

Listed:
  • Alok Kumar Mishra

    (University of Hyderabad)

  • Aruna Kumar Dash

    (IBS Hyderabad, IFHE University)

Abstract

This research focuses on the development of impact bonds (DIBs), a newly emerging alternative financial innovative product for financing social results in developing countries. DIBs are an agreement between several parties working towards a development goal. The idea of DIBs has not been thoroughly investigated. The various dimensions of DIBs, including their structure, evolution, conduct, and performance, are the focus of this research. This study examines the idea of DIBs specifically concerning developing countries based on an analytical review of grey literature. According to our research, when it comes to DIBs, policymakers have prioritised their policies more towards health, followed by employment and training, education, poverty reduction, and agriculture.

Suggested Citation

  • Alok Kumar Mishra & Aruna Kumar Dash, 2023. "Development impact bonds in developing countries: an emerging innovation for achieving social outcomes," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 25(1), pages 22-48, December.
    • Handle: RePEc:spr:jsecdv:v:25:y:2023:i:1:d:10.1007_s40847-022-00213-0
    DOI: 10.1007/s40847-022-00213-0
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s40847-022-00213-0
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s40847-022-00213-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. James X. Zhan & Amelia U. Santos-Paulino, 2021. "Investing in the Sustainable Development Goals: Mobilization, channeling, and impact," Journal of International Business Policy, Palgrave Macmillan, vol. 4(1), pages 166-183, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Viktoriia Myronchuk & Oleksandr Yatsenko & Dmytro Riznyk & Olena Hurina & Andrii Frolov, 2024. "Financing Sustainable Development: Analysis of Modern Approaches and Practices in the Context of Financial and Credit Activities," International Journal of Economics and Financial Issues, Econjournals, vol. 14(5), pages 317-329, September.
    2. Susann Stritzke & Malcolm Bricknell & Matthew Leach & Samir Thapa & Yesmeen Khalifa & Ed Brown, 2023. "Impact Financing for Clean Cooking Energy Transitions: Reviews and Prospects," Energies, MDPI, vol. 16(16), pages 1-26, August.
    3. Saba Iqbal & Safia Nosheen, 2023. "Moderating impact of non-performing loans on the relationship between sustainable development goals and the financial performance of banks," Future Business Journal, Springer, vol. 9(1), pages 1-12, December.
    4. Hao Chen & Yaying Xu & Evelyn Agba Tackie & Isaac Ahakwa, 2024. "Assessing the Impact of Asset-Based Community Development Approach on Rural Poverty Alleviation in Ghana: The Moderating Role of Government Policies," SAGE Open, , vol. 14(1), pages 21582440231, January.
    5. Harasheh, Murad & Bouteska, Ahmed & Manita, Riadh, 2024. "Investors' preferences for sustainable investments: Evidence from the U.S. using an experimental approach," Economics Letters, Elsevier, vol. 234(C).
    6. Zhiqiang Cai & Wenjie Zhang, 2024. "Quantitative evidence of the community of shared future for mankind as a driver of sustainable development in human society," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-16, December.
    7. Chie Iguchi & Axèle Giroud & Shasha Zhao & Si Zhang, 2025. "International Business and Sustainable Development in Asia: Opportunities and Challenges for Firms and Countries," Asian Business & Management, Palgrave Macmillan, vol. 24(1), pages 1-24, February.
    8. Li, Xuelian & Chen, Lingzhi & Lin, Jyh-Horng, 2023. "Cap-and-trade mechanisms, green technology investment, and shadow insurance in a black swan environment," Energy Economics, Elsevier, vol. 124(C).
    9. Juan Tan & Jinyu Wei, 2024. "Balancing Growth and Sustainability: a Regional Analysis of Industrial Carbon Efficiency in China," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 13946-13978, September.
    10. Perote, Javier & Vicente-Lorente, José D. & Zuñiga-Vicente, Jose Angel, 2023. "How reactive is investment in US green bonds and ESG-eligible stocks in times of crisis? Exploring the COVID-19 crisis," Finance Research Letters, Elsevier, vol. 53(C).
    11. Wesemann, Henrik & Antretter, Torben, 2023. "Why don’t you like me? Exploring the social venture funding gap in angel investing," Journal of Business Venturing Insights, Elsevier, vol. 20(C).
    12. Xingmin Yin & Yunqian Yuan & Jinglin Zhou, 2024. "Evaluation and optimization of business environment based on sustainable development perspective: Exploring the role of the reform of government functions," Sustainable Development, John Wiley & Sons, Ltd., vol. 32(1), pages 138-152, February.
    13. Shome, Samik & Hassan, M. Kabir & Verma, Sushma & Panigrahi, Tushar Ranjan, 2023. "Impact investment for sustainable development: A bibliometric analysis," International Review of Economics & Finance, Elsevier, vol. 84(C), pages 770-800.
    14. Niraja Srinivasan & Lorraine Eden, 2021. "Going digital multinationals: Navigating economic and social imperatives in a post-pandemic world," Journal of International Business Policy, Palgrave Macmillan, vol. 4(2), pages 228-243, June.
    15. Joanna Próchniak & Renata Płoska & Anna Zamojska & Błażej Lepczyński & Giuseppe T. Cirella, 2023. "Maturity Analysis of Stock Exchanges in Africa: Prepandemic Sustainability Perspective," Sustainability, MDPI, vol. 15(8), pages 1-18, April.
    16. James X. Zhan, 2021. "GVC transformation and a new investment landscape in the 2020s: Driving forces, directions, and a forward-looking research and policy agenda," Journal of International Business Policy, Palgrave Macmillan, vol. 4(2), pages 206-220, June.
    17. Yeboah, Samuel, 2023. "Balancing Growth and Green: Strategies for Sustainable Development in Developing Economies," MPRA Paper 118180, University Library of Munich, Germany, revised 20 Jun 2023.
    18. Alkis Thrassou & Giuseppe Festa, 2023. "Contemporary Organizational Sustainability: The Symbiotic Relationship Between Business and Society," FIIB Business Review, , vol. 12(2), pages 115-119, June.
    19. Rekha Rao-Nicholson & Htwe Htwe Thein & Yifan Zhong, 2024. "A thematic analysis of the links between multinational enterprises’ corporate social responsibility and the Sustainable Development Goals in Myanmar," Journal of International Business Policy, Palgrave Macmillan, vol. 7(2), pages 203-223, June.
    20. Chatterjee, Sheshadri & Chaudhuri, Ranjan & Vrontis, Demetris & Dana, Léo-Paul & Kabbara, Diala, 2024. "Developing resilience of MNEs: From global value chain (GVC) capability and performance perspectives," Journal of Business Research, Elsevier, vol. 172(C).

    More about this item

    Keywords

    Development impact bonds; Social welfare; Public–private partnership; Results-based finance; SDGs;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:jsecdv:v:25:y:2023:i:1:d:10.1007_s40847-022-00213-0. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.