Abstract

This article seeks to analyze the model of the “social impact bonds”, as a co-production instrument in the effective provision of state responsibilities, in harmony with the newest paradigm of the public administration, known as “new public governance”. In order to do so, this article will seek to clarify the theoretical outlines of the “new public governance” model, especially the “co-production” model, as an instrument of effectiveness in the execution of public services, in a broad sense, such as several examples observed worldwide. Knowing these guidelines for the co-production of public services is important so that this work can better identify the main legal and operational characteristics of the social impact bonds. In addition, this article will study a successful case of the implementation of a social impact bonds, promoted by the State of New York, whose object is the reduction of the high rate of criminal recurrence. This paper will also analyze an effort of its implantation by the State of São Paulo, not initiated because of the lack of legal basis for its implementation. This article will seek to demonstrate that the social impact bonds is a kind of project finance initiative, whose creation of new rules are essential in Brazil, both for the existence of successful cases, as well as for the adequacy of its adoption with the most current guidelines for efficiency in the performance of tasks reserved for Public Administration.

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