Review of Social Impact Bonds in the South African Educational Sector.

      Аннотация: This exploratory investigation examines relevant Social Impact Bonds from other markets and concludes that their implementation is likely to find traction within an emerging market context such as South Africa. The findings suggest that short to medium term (less than 5 years) SIB contractual periods are preferred with investor capital fully risk exposed. SIBs may be viewed as a nexus for a number of inter-related areas. Firstly, one could trace its roots in Social Innovation, notably to the Connected Difference theory of Social Innovation. The theory espouses three important components to social innovation: - They are typically hybrids or new combinations of existing elements, as opposed to being completely new themselves - Their implementation dissects organisational, sectoral or disciplinary boundaries - In connecting together previously disparate role-players, they create powerful and lasting new social relationships.

Ключевые слова: Early Childhood Development, education outcomes, Impact investing, South Africa, Social Impact Bonds, Pay for Success, Pay by Results, Development Impact Bond