Warner, M.E. 2015. "Profiting from Public Values: The Case of Social Impact Bonds," in pp 143-160 in Creating Public Value in Practice, ed. By Bryson, John, Crosby, Barbara and Bloomberg, Laura, New York: CRC Press, Taylor and Francis.
Social Impact Bonds are a new form of cross-sectoral collaboration which attracts private financial investment to social programs by offering to pay a market rate of return should the intervention meet its predefined targets. SIBs monetize the benefits of social interventions and tie pay to performance. This chapter explores challenges posed by SIBs for the creation of public value and draws on the literature of government contracting, new public management, and evaluation research to develop a framework for analysing the management of public value in SIBs. Using a focus on actors, processes and outcomes, the paper outlines the opportunities and concerns SIBs present for public administration scholars concerned with public value creation and preservation.
Subject: Economic Development,Planning