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From New Public Management to Social Impact Bonds: The European Experience

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The Anglo-American Model of Neoliberalism of the 1980s

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Abstract

Defined as financial innovations in which a public entity enters into agreements to pay private investors only in case of achievement of a predefined level of social outcomes, Social Impact Bonds (SIBs) emerged as a mechanism aimed to introduce social innovation into the traditional schemes of public service provisions. More in detail, SIBs are a neoliberal procurement model—based on a mix of contracting out, private finance capital, and Payment-by-Results (PbR)—used for the delivery of social services in several policies and welfare areas. This chapter provides an overview of the SIBs phenomenon in some European countries by offering suggestions for their use to respond to the most pressing economic and social effects of COVID-19.

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Acknowledgment

This work has received funding from the European Union’s Horizon 2020 research and innovation programme under the Marie Skłodowska-Curie grant agreement No 892293—COPERNICUS.

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Authors and Affiliations

  1. University of Cagliari, Cagliari, Italy

    Rosella Carè

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  1. Rosella Carè
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Correspondence to Rosella Carè .

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Editors and Affiliations

  1. University of Tours, Tours, France

    Nathalie Lévy

  2. University of Tours, Tours, France

    Alexis Chommeloux

  3. University of Tours, Tours, France

    Nathalie A. Champroux

  4. University of Tours, Tours, France

    Stéphane Porion

  5. University of Tours, Tours, France

    Selma josso

  6. University of Tours, Tours, France

    Audrey Damiens

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Carè, R. (2022). From New Public Management to Social Impact Bonds: The European Experience. In: Lévy, N., Chommeloux, A., Champroux, N.A., Porion, S., josso, S., Damiens, A. (eds) The Anglo-American Model of Neoliberalism of the 1980s. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-12074-9_18

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