{"title":"Social impact bonds: a new tool for governance of social programs - evidence from the UK, USA and Australia","authors":"Tamara Dimitrijevska-Markoski","doi":"10.1504/IJPP.2016.10000552","DOIUrl":null,"url":null,"abstract":"This study explores the ways in which social impact bonds (SIBs) are utilised to deliver social services in the area of criminal justice across the UK, the USA and Australia. The paper defines SIBs, explains their structure, and briefly discusses their advantages and disadvantages. Later, the three examples where SIBs are used for reducing recidivism are compared and contrasted. Even though the effectiveness of the implemented projects has not been confirmed, the paper identifies challenges for SIBs' effectiveness, efficiency, equity and manageability that need to be considered when designing a SIB.","PeriodicalId":35027,"journal":{"name":"International Journal of Public Policy","volume":"12 1","pages":"261-275"},"PeriodicalIF":0.0000,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Public Policy","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1504/IJPP.2016.10000552","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 3
Abstract
This study explores the ways in which social impact bonds (SIBs) are utilised to deliver social services in the area of criminal justice across the UK, the USA and Australia. The paper defines SIBs, explains their structure, and briefly discusses their advantages and disadvantages. Later, the three examples where SIBs are used for reducing recidivism are compared and contrasted. Even though the effectiveness of the implemented projects has not been confirmed, the paper identifies challenges for SIBs' effectiveness, efficiency, equity and manageability that need to be considered when designing a SIB.
期刊介绍：
The IJPP proposes and fosters discussion on public policy issues facing nation states and national and supranational organisations, including governments, and how these diverse groups approach and solve common public policy problems. The emphasis will be on governance, accountability, the creation of wealth and wellbeing, and the implications policy choices have on nation states and their citizens. This perspective acknowledges that public policy choice and execution is complex and has ramifications on the welfare of citizens; and that, despite national differences, the actions of nation states are constrained by policies determined by supranational bodies, some of which are not directly accountable to any international body.
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