Social Service, Private Gain

Jesse Hajer is an assistant professor in the Department of Economics and Labour Studies program at the University of Manitoba.John Loxley was a professor in the Department of Economics at the University of Manitoba and a Fellow of the Royal Society of Canada.

• Preface 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 ProvisionIII. 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 PartnershipsIntroduction I. Review of the Public Private Partnership (PPP) Infrastructure Delivery ModelII. SIBs as Public Private PartnershipsIII. Economic Theory and Modeling of PPPs and SIBsIV. A Comparative Framework for Evaluating SIBs versus conventional procurement V. ConclusionPart C: The Political Economy of SIBSChapter 5: Private Institutional Participants in SIBsIntroduction I. The Institutional Participants in SIBsII. Service Providers: The Significance of the Non-Profit Form III. Altruism, Intrinsic Motivation and Reciprocity IV. Implications for SIB Implementation and DesignV. ConclusionChapter 6: GovernmentIntroduction I. Motivations of GovernmentII. Relative Cost CritiqueIII. Theories of the StateIV. Implications for SIB Design and RegulationV. ConclusionChapter 7: The Political Economic Context of SIB EmergenceIntroductionI. Defining neoliberalismII. FinancializationIII. Comparative Analysis of SIB Leaders and FollowersIV. Side note: The UK Versus the USV. ConclusionChapter 8: Development Impact BondsIntroductionI. 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