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      Los Bonos con Impacto Social en el contexto de la reforma a la ley de contratación pública: retos y oportunidades Translated title: Social Impact Bonds in the context of the reform of the public procurement law: Challenges and opportunities

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          Abstract

          Resumen El declive de la capacidad estatal para financiar la solución de problemas sociales se ha convertido en un tema común y repetitivo en un contexto mundial marcado por la desaceleración económica y los procesos de desindustrialización. para superarlo, el sector privado y el denominado sector social han concurrido a la creación de novedosos mecanismos de financiación. Los Bonos con Impacto social hacen parte de estas innovaciones con las cuales se espera coadyuvar a la eficiencia y transparencia en la ejecución de los escasos recursos públicos. Dentro de este panorama, el desafío para quienes promueven estas novedosas instituciones parece ser el de transformar los rígidos modelos de contratación a los que tradicionalmente se encuentra sujeta la actuación de las entidades públicas.

          Translated abstract

          Abstract The decline of state's capacity to finance solutions to social problems has become a common problem in a context signed by a global economic downturn and de-industrialization processes. To overcome this situation, the private sector and the so-called 'social sector' have been involved in the creation of novel financing mechanisms. The social impact Bonds are part of these innovations that could contribute to the efficiency and transparency of public spending. Within this scenario, the challenge for those who promote these innovative tools seems to be to achieve effective transformation of those rigid contracting models to which are subject public authorities.

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          How Social Innovation ‘Came to Be’: Tracing the Evolution of a Contested Concept

          Social innovation is a contested concept with multiple meanings that have implications beyond academia. It is not a new term – its sociological heritage can be dated to the late nineteenth century. However, until the twenty-first century the concept was sparsely utilised, and, despite its current popularity among policy makers in Europe and the United States, remains largely ignored by social policy researchers. Through bibliometric analysis we identify the most influential articles on social innovation and explore how these have conceptualised the term. We show that over time social innovation has taken on a set of meanings far removed from its sociological roots. In particular we identify a weak tradition that sees social innovation as any increase in aggregate individual utility arising from an innovation, and a strong tradition that focuses on the process of collaboration between different groups and the restructuring of power relations. We conclude by outlining implications for social policy research.
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            Social Impact Bonds: The Role of Private Capital in Outcome-Based Commissioning

            Social impact bonds are payment by results contracts that leverage private social investment to cover the up-front expenditure associated with welfare services. The introduction of private principles and actors through outcome-based commissioning has received a great deal of attention in social policy research. However, there has been much less attention given to the introduction of private capital and its relation to more established forms of quasi-marketisation. This paper examines what effect private social investment has on outcome-based commissioning and whether the alternative forms of performance measurement and management, that social impact bonds bring to bear on service operations, demonstrate the capacity to engender: innovation in service delivery; improved social outcomes; future cost savings; and additionality. This paper draws on an in-depth study of four social impact bonds in the UK context, as the welfare regime at the vanguard of this policy development. The findings suggest that the introduction of private capital in outcome-based commissioning has had a number of unique and unintended effects on service providers, operations and outcomes. The paper concludes by considering whether social impact bonds represent a risk or an opportunity for public service reform both in the UK and further afield.
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              Insight into the social impact bond market: An analysis of investors

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                Author and article information

                Contributors
                Role: ND
                Journal
                rdes
                Revista Derecho del Estado
                Rev. Derecho Estado
                Universidad Externado de Colombia (Bogotá, Distrito Capital, Colombia )
                0122-9893
                December 2018
                : 0
                : 41
                : 129-146
                Affiliations
                [1] Bogotá Bogotá orgnameUniversidad Externado de Colombia orgdiv1Departamento de Derecho Económico Colombia rodrigo.corredor@ 123456uexternado.edu.co
                Article
                S0122-98932018000200129
                10.18601/01229893.n41.05
                4bdb8610-6073-4513-a690-c6ff5ed4c43f

                This work is licensed under a Creative Commons Attribution 4.0 International License.

                History
                : 24 April 2017
                : 15 February 2018
                Page count
                Figures: 0, Tables: 0, Equations: 0, References: 20, Pages: 18
                Product

                SciELO Colombia


                Impacto social,innovación,gestión pública,compras públicas,social impact,innovation,public management,public procurement

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