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Social Investment Funds in Sweden: Status and Design Issues

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Abstract

Long-term investments in individual and social human capital, such as preschool, school, family support, early-intervention for youth at risk and other programmes that are part of the welfare services provided by local government in Sweden are generally managed with one-year-ahead budget planning. Against criticism that the resulting resource allocation is biased by short-sightedness, silo mentality and risk aversion, more than a fifth of Swedish municipalities have in recent years established “social investment funds” for promoting investment and innovation views on such measures. This article provides a background on the motives and current status of these funds at the national level and describes in more detail the design and project funding in two cases. Two critical design issues are discussed; whether investment returns should be paid back to the fund and whether assessment should be made of other societal benefits than avoided costs.

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  • Hultkrantz, Lars & Vimefall, Elin, 2016. "Social Investment Funds in Sweden: Status and Design Issues," Working Papers 2016:1, Örebro University, School of Business.
    • Handle: RePEc:hhs:oruesi:2016_001
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    File URL: https://www.oru.se/globalassets/oru-sv/institutioner/hh/workingpapers/workingpapers2016/wp-1-2016.pdf
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    1. Åslund, Olof & Grönqvist, Hans & Hall, Caroline & Vlachos, Jonas, 2018. "Education and criminal behavior: Insights from an expansion of upper secondary school," Labour Economics, Elsevier, vol. 52(C), pages 178-192.
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    Cited by:

    1. Nachemson-Ekwall , Sophie, 2019. "A Swedish market for sustainability-related and socially labelled bonds. Institutional investors as drivers," SSE Working Paper Series in Business Administration 2019:3, Stockholm School of Economics.

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    More about this item

    Keywords

    social investments; investing in children; cost-benefit analysis;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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