社会影响力债券:运作模式、优势及风险

Social Impact Bonds:Operation、Mode、Strengths and Risks

社会影响力债券是近年来在公共服务领域兴起的一种社会融资方式,自2010年在英国诞生以来受到全球各国的普遍重视,我国也在各领域积极探索社会影响力债券的发行。社会影响力债券是一种"基于成功付费"的公共服务融资模式,它具有明确的绩效导向性。社会影响力债券之所以受到广泛欢迎就在于它具有有效缓解政府资金不足、合理分担政府投资风险、充分利用社会资源、鼓励社会领域的多元合作等优势。但是,我们也要看到,社会影响力债券在运行中也还面临着政府成本增加、政府责任转移、组织动力不足、参与者合谋等风险。

Social impact bonds are a form of social financing that has sprung up in public services in recent years, Since the birth of the UK in 2010, it has been widely regarded by all countries around the world, and China has actively explored the issuance of social impact bonds in various fields.Social impact bonds are a “ pay-for-success” public-service financing mode with clear performance guidance. Social impact bonds are widely welcome is that it is effective in relieving the government capital insufficiency, sharing the risk of government investment, making full use of social resources, encouraging diverse cooperation.But there are also some risks the social impact bonds face, such as ：the increase of government costs, the transfer of government responsibility, the lack of organizational dynamics, participants conspiracy and so on.