Social Impact Bonds As an Innovative Financing Tool for Social Projects of Local Governments; Recommendations for Turkey

TARAKTAŞ A.

MALIYE DERGISI, no.168, pp.31-48, 2015 (ESCI) identifier

  • Publication Type: Article / Article
  • Publication Date: 2015
  • Journal Name: MALIYE DERGISI
  • Journal Indexes: Emerging Sources Citation Index (ESCI), TR DİZİN (ULAKBİM)
  • Page Numbers: pp.31-48
  • Keywords: Social Impact Bond, Social Policy, Social Spending, Local Governments, Public Sector Innovation
  • Anadolu University Affiliated: Yes

Abstract

Social impact bond is an innovative financing and intersectoral collaboration method that liquidates the utilities of social programs to make them financially marketable to private investors and remove the administrative and financial risks of programs for public sector. The first pilot applications have been initiated in the United Kingdom and in the United States. In this study, opportunities and the matters to be considered in practice of social impact bonds are discussed with a focus on actors, processes and results. The points and recommendations for the applicability of social impact bonds on social policy projects of local governments in Turkey are included for the examination of the designs and results of the initial pilot applications.