Social impact bonds in Canada: from theory to implementation

This paper analyzes the theoretical underpinnings of the Social Impact Bond and attempts to determine applicability in a Canadian context. No previous substantive study of this kind has been performed in a Canadian context. In this study empirical research of potential SIB applications is undertaken for an employment program for persons with disabilities, a social housing program and a preventative healthcare program for hypertension management. Findings suggest that the two latter cases are more suitable for future SIB application than the first. A general course for implementation and future research of the SIB is then developed. Recommendations for future paths of development in the area include: internationally coordinated research of existing SIB strategies; developing a long-term vision for the concept locally; identifying promising applications through the methods used in this project; identifying, partnering or creating a social impact bond delivery agency to deliver and monitor a SIB.