The institutional work of creating and implementing Social Impact Bonds
| Autor: | Jonathan Kimmitt, Mike Martin, Jane Gibbon, Rob Wilson, Toby Lowe |
|---|---|
| Rok vydání: | 2019 |
| Předmět: |
Public Administration
Sociology and Political Science Public economics L400 Bond media_common.quotation_subject 05 social sciences Public policy Management Monitoring Policy and Law Payment Structure and agency 0506 political science Work (electrical) Political science 0502 economics and business Institutionalism 050602 political science & public administration Impact investing Social determinants of health 050203 business & management media_common |
| Zdroj: | Policy & Politics. 47:353-369 |
| ISSN: | 1470-8442 0305-5736 |
| DOI: | 10.1332/030557318x15333032765154 |
| Popis: | Social Impact Bonds (SIBs) are a new and increasingly popular public policy tool which link payments to outcomes thus, in theory, transferring risk from governments to private investors. This paper draws on the concepts of institutional work and discursive institutionalism to analyse how a SIB influenced the rules, norms and decisions of key actors. It identifies two dominant discourses. One focused on addressing the social determinants of health, the other on creating the financial structure needed to run a SIB. These discourses were congruent at a macro-policy level, but tensions emerged between them at the meso and micro levels. This exemplifies the interdependence of structure and agency in institutional work and the mediating role which discourse plays. It also suggests that the effectiveness of a SIB depends not just on whether it achieves its outcome targets but also on whether it can institute new sets of practices and thinking. |
| Databáze: | OpenAIRE |
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