scholarly journals Social Impact Bonds: Development Prospects in the Russian Federation

2020 ◽  
Vol 14 (2) ◽  
pp. 91-100
Author(s):  
D. G. Mirakyan
Keyword(s):  
Budget Deficit ◽  
Social Impact ◽  
Social Issues ◽  
Social Bonds ◽  
Social Programs ◽  
State Budget ◽  
Social Impact Bonds ◽  
The Usa ◽  
The Russian Federation ◽  
Development Prospects

Amid the state budget deficit, there is a problem of financing social projects. In this regard, new sources of extrabudgetary funding for social issues need to be sought. Financial instruments capable of implementing various social programs include social bonds. This study identifies the main characteristics of social impact bonds (SIB): fundamental principles, mechanism of work. The current work describes the practice of implementing social impact projects on education, poverty, ecology, etc., presenting the experience of the USA and several European countries. This study analyses Russia’s present state and prosperities in the development of SIB projects. The research defines the unique catalyst-funds role in processes of impact investment, as well as the suitability of their creation in Russia. The author analyses opportunities and likely risks from social impact projects realization.

scholarly journals Social Impact Bonds as a Funding Method for Health and Social Programs: Potential Areas of Concern

2018 ◽  
Vol 108 (2) ◽  
pp. 210-215 ◽  
Author(s):  
Amy S. Katz ◽  
Benjamin Brisbois ◽  
Suzanne Zerger ◽  
Stephen W. Hwang
Keyword(s):  
Social Impact ◽  
Social Programs ◽  
Social Impact Bonds ◽  
Areas Of Concern

scholarly journals Maternity (Family) Capital as a Support Program for Families with Children: Implementation Results and Development Prospects (Part Two)

2020 ◽  
Vol 16 (4) ◽  
pp. 21-35
Author(s):  
Valeriy Elizarov ◽  
Natal’ya Dzhanayeva
Keyword(s):  
Pension Fund ◽  
Social Protection ◽  
State Budget ◽  
Family Capital ◽  
New Directions ◽  
The Russian Federation ◽  
C Program ◽  
The Right ◽  
Families With Children ◽  
Development Prospects

Maternity (family) capital (hereinafter referred to as M(F)C) is a certain amount of funds allocated to families with children from the state budget with the goal of creating conditions providing families with children with The article analyzes the theoretical and practical issues of the development of the M(F)C program, the statistics of Rosstat, the Ministry of Labour and Social Protection and the Pension Fund of the Russian Federation, characterizing M(F)C. The article is divided into two parts due to its large volume. The first part of the article explores the conceptual and applied aspects of the origin and development of the M(F)C program. The genesis of the idea of maternal capital and the path from idea to bill is considered. The baseline parameters, such as the size of the capital, the period of action, the directions of use and the conditions governing access to funds M(F)C are analyzed. The second part shows how the initial parameters were adjusted: the extension of the period of action, the reduction of the period preceding the possibility of use, the clarification of the rules of documentation of the right to M(F)C, the removal of unnecessary administrative barriers for filing and consideration of applications, improving the conditions of use by adding new directions. The statistics of M(F)C, changes in the direction of its use and expenditures on these areas are analyzed. Proposals are presented to develop the M(F)C program, to expand its use to better support families with children

Social Bonds und Social Impact Bonds

2021 ◽  
Vol 50 (7-8) ◽  
pp. 17-22
Author(s):  
Dirk Schiereck ◽  
Farwa Taheri
Keyword(s):  
Social Impact ◽  
Social Bonds ◽  
Social Impact Bonds

Mit den sogenannten COVID-19-Response-Bonds gewinnt das Anleihesegment der Social Bonds und Social Impact Bonds stark an Dynamik. Generell handelt es sich hier um Finanzprodukte, die private Investitionen in Projekte mit sozialer Wirkung ermöglichen. Dieser Beitrag stellt beide Instrumente vor und grenzt sie auch voneinander ab.

Social Impact Bonds in Latin America: IDB Lab's Pioneering Work in the Region: Lessons Learnt

2021 ◽  
Author(s):  
Alma Agusti Strid ◽  
James Ronicle
Keyword(s):  
Latin America ◽  
Social Impact ◽  
Technical Note ◽  
Social Programs ◽  
Middle Income ◽  
Advantages And Disadvantages ◽  
Lessons Learnt ◽  
Retrospective View ◽  
Social Impact Bonds ◽  
Set Up

In recent years, Latin America has seen the introduction of innovative pay-for-success mechanisms to fund social programs, including Social Impact Bonds (SIBs) and Development Impact Bonds (DIBs), outcome-based contracts that incorporate the use of private financing from investors to cover the upfront capital required for a provider to set up and deliver a social service. In this context, IDB Lab established a SIB Facility in 2014 to promote the focus on outcomes in social programs and increase outcomes-based commissioning. The SIB Facility has resulted in IDB Lab providing support to developing SIBs in Colombia (first SIB launched in a middle-income country), Argentina, Chile, Mexico and Brazil. Since then, several employment SIBs have launched in Colombia and Argentina and prefeasibility studies for SIBs on other topics are currently underway in Chile. This Technical Note aims to capture the lessons learnt from developing SIBs in Latin America, focusing on the five countries where the SIB Facility played a pioneering role. The study takes a retrospective view in examining what has been done and a prospective view in considering how challenges can be overcome and how lessons learnt might be considered within the IDB Lab, both at SIB level and at ecosystem level looking at the SIB ecosystems that have started to emerge. In the study, we find that the SIBs that have launched in the study countries were well designed and that there had also been thorough consideration of the advantages and disadvantages of the model.

scholarly journals Promoting Social Bonds for Impact Investments in Asia

2021 ◽  
Keyword(s):  
Sustainable Development ◽  
Social Impact ◽  
Social Issues ◽  
Social Bonds ◽  
Bond Market ◽  
Social Bond ◽  
Current Status ◽  
Potential Contribution ◽  
Bond Markets ◽  
The Impact

Social bond markets have grown rapidly in Asia and around the world amid the coronavirus disease (COVID-19) pandemic. Today, the global social bond market is dominated by bonds that address pandemic-related social impact areas. To better understand the potential contribution of social bonds in tackling developing Asia’s most urgent social issues, this study reviews the current status and recent trends of global and Asian social bond markets. It further analyzes social impact areas that can be addressed by social bonds in both the short and long term. The study’s findings can help align finance with the Sustainable Development Goals and maximize the impact of the social bond market for sustainable development.

scholarly journals “Let’s Not Have the Perfect Be the Enemy of the Good”: Social Impact Bonds, Randomized Controlled Trials, and the Valuation of Social Programs

2021 ◽  
pp. 016224392110420
Author(s):  
James W. Williams
Keyword(s):  
Social Life ◽  
Social Impact ◽  
Controlled Trial ◽  
The United States ◽  
Future Research ◽  
Social Programs ◽  
Social Investment ◽  
Program Outcomes ◽  
Randomized Controlled ◽  
Social Impact Bonds

This article uses the case of “social impact bonds” (SIBs) to explore the role of social science methods in new markets in “social investment.” Pioneered in the UK in 2010, SIBs use private capital to fund social programs with governments paying returns for successful outcomes. Central to the SIB model is the question of evaluation and the method to be used in determining program outcomes and investor returns. In the United States, the randomized controlled trial (RCT) has been the dominant method. However, this has not been without controversy. Some SIB practitioners and investors have argued that, while this may be the perfect tool, the need to grow the SIB market demands a more pragmatic approach. Drawing from a three-year study of SIBs, and informed by Science and Technology Studies (STS)-inspired work on valuation and the social life of methods, the article explores RCTs as both a valuation technology central to SIB design and the object of a micropolitics of valuation which has impeded market growth. It is the relationship between, and the politics of, evaluation and valuation that is a key lesson of the SIB experiment and an important insight for future research on “social investment” and other settings where methods are constitutive of financial value.

scholarly journals Recent Innovations in Socially Responsible Investing (SRI): The Role of “Socially Responsible Bonds” in Spurring Sustainable Development

2018 ◽  
Vol 19 (1) ◽  
pp. 27-47
Author(s):  
Hannah Jun ◽  
Hyojin Kim ◽  
Songhee Han
Keyword(s):  
Sustainable Development ◽  
Social Impact ◽  
Potential Role ◽  
Social Issues ◽  
Socially Responsible Investing ◽  
Investment Strategies ◽  
Socially Responsible ◽  
Responsible Investing ◽  
Social Impact Bonds

While it has become clear that the global community needs to utilize partnerships between the public and private sectors to achieve broader economic and development goals, there has been less discussion about the potential role of investors in shaping and participating in this movement. Part of this may be due to familiarity with traditional methods such as official development assistance (ODA) and relatively less understanding about recent innovations in socially responsible investing (SRI), including social impact bonds and development impact bonds. As economies like Korea have begun to show greater interest in harnessing various investment strategies to achieve broader social goals, we find it critical to better understand what financial tools are available within the context of encouraging sustainable development. As such, this paper highlights the potential role investors can play in contributing to broader social issues both at home and abroad through an examination of recent innovations in SRI – specifically, the category of so-called “socially responsible bonds.”

scholarly journals Possibilities of Social Bonds Using to Finance Higher Education Institutions

2022 ◽  
pp. 295-313
Author(s):  
Natalia Konovalova
Keyword(s):  
Higher Education ◽  
Large Scale ◽  
Social Impact ◽  
Financial Institution ◽  
Social Bonds ◽  
Higher Education Institutions ◽  
Economic Effect ◽  
Financial Instruments ◽  
Social Impact Bonds ◽  
Additional Funding

AbstractIn many countries, funding for higher education institutions is insufficient and requires the search for new financial instruments and financing models. One such financing model could be the issuance of social impact bonds aimed at improving the efficiency of higher education institutions. The study focuses on the use of financial instruments as social bonds for additional funding of higher education institutions. The peculiarities of social bonds and the possibilities of their application in the field of higher education are explored in the paper. The results of the study comprise three proposed innovative approaches to the development of a mechanism for the issuance of bonds. The first approach assumes that the issuer of social bonds in favour of the university is a bank or other financial institution. The second approach is based on the methodology of issuing social bonds by a university with the participation of the state. The third approach to the use of social bonds is the creation of a platform for financing long-term educational programs; it can be done with the participation of a large company implementing large-scale socio-economic projects. Such platform will have a great social and economic effect.

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