Comparative study of social impact bonds – capital per beneficiary and scheme duration

Abstract

Despite numerous articles on Social Impact Bonds (SIBs), the current academic debate lacks in-depth empirical research on how countries differ in terms of the direction and level of support using SIBs. The purpose of the article is to examine whether in countries issuing SIBs the intervention objectives differ between countries in terms of the amount of capital allocated per support beneficiary and the term of repayment from the bonds. It shows that schemes classified as ‘social’ have on average higher capital allocated per beneficiary and a longer repayment date. This is confirmed for both SIBs issued worldwide and those issued in the UK and USA. The results of this study provide guidance for public policy makers on the scale of expenditure and the duration of intervention depending on objectives, which can be important both in the sustainable budget planning process and for the issue itself.