Social Impact Bonds
A promising new nancing model to accelerate socialinnovation and improve government perormance
Jerey B. Liebman February 2011
CAP’s Doing What Works project promotes government reorm to efciently allocate scarce resources andachieve greater results or the American people. This project specically has three key objectives:
Eliminating or redesigning misguided spending programs and tax expenditures, ocused on priority areassuch as health care, energy, and education
Boosting government productivity by streamlining management and strengthening operations in the areaso human resources, inormation technology, and procurement
Building a oundation or smarter decision-making by enhancing transparency and perormancemeasurement and evaluationThis paper is one in a series o reports examining government accountability and efciency.