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ABSTRACT
Despite the general hype, Social Impact Bonds’ (SIB) rate of adoption is still modest. The mismatch between widespread interest and actual adoption raises interesting questions as to whether we are still in the early adoption phase of SIBs and massive diffusion is yet to come, or we are observing a marginal phenomenon. In order to shed some light on this issue, the paper provides a review of the cases in which the SIB model has been already applied, exploring the specific configuration employed, with the purpose to identify regular configuration patterns and their deviation from a prototypical structure.
Notes
1 Instiglio, Social Ventures Australia, McKinsey, Payforsuccess.org, Social Impact Bond Technical Assistance Lab, Emma Tomkinson, Social Impact Investment Taskforce.
2 For this reason, we excluded from the analysis the SIB launched in Portugal (February 2015) and the seven SIBs launched (mid-March 2015) by UK Cabinet Office to help disadvantaged young people, children in care, and those with long-term health conditions and mental illness.
3 However, in the analysis, we decide to consider the DWP Innovation Fund for Young People as one case even if it consists of 10 SIBs.