Resource ID: INDIGO-ARES-0016
Link: https://www.rand.org/randeurope/research/projects/social-impact-bonds.html
RAND Europe were established in 1948 and work in 50 countries across the world.They are a not for profit research institute that helps to improve policy and decision making through research and analysis. Through their work they seek to expand perspectives through thought-provoking, impartial and robust analysis of key policy issues. They are a non-partisan organisation and are independent from any political or commercial pressures. They are a diverse organisation and cover a range of policy areas, including health, children and families, education, infrastructure and the environment.
RAND Europe was commissioned by the UK Ministry of Justice https://www.rand.org/randeurope/research/projects/social-impact-bonds.htmlin Peterborough. This sought to reduce reoffending by prisoners who have served short custodial sentences. They also did an https://www.rand.org/randeurope/research/projects/social-impact-bonds-for-health-social-care.html. This was to support the Department of Health to determine the value-added and feasibility of social impact bonds. They worked in partnership with the Policy Innovation Research Unity at the London School of Hygiene and Tropical Medicine.
Impact goal: Health, Social impact, Employment financial well being
Internal/external: External, Internal
Leader: RAND Europe
Method: Framework agnostic
Output format: Monetary valuation
Scale: Macro
Sourcing: Outsource to vendor
Time frame: Retrospective
Type: Case study
Used in sectors: Sibs, Charity, Developed countries
Who: Public sector
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