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Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: New development: Private finance over public good? Questioning the impact of social and environmental impact bonds
Author(s): Dey, Colin
Gibbon, Jane
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Keywords: Impact bonds
third sector
outcomes-based performance
Issue Date: 31-Dec-2018
Citation: Dey C & Gibbon J (2018) New development: Private finance over public good? Questioning the impact of social and environmental impact bonds, Public Money and Management, 38 (5), pp. 375-378.
Abstract: Social impact bonds (SIBs) have emerged as an alternative mechanism for financing projects with an explicit social purpose. This article contrasts the proposed benefits of SIBs with the more mixed performance of initial projects, and reviews the early literature, revealing a similar divide between initial optimism and subsequent critique. Despite this, SIBs continue to receive high-level support, whilst expanding their reach through controversial new ‘development’ and ‘environmental’ impact bonds. This situation deserves more scrutiny in the accounting literature.
DOI Link: 10.1080/09540962.2018.1477676
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