Social Impact Investing

SOCIAL IMPACT INVESTMENT: BUILDING THE EVIDENCE BASE
5.2.1 The need (for better) social services: trends in social outcomes ................................................... 59
5.2.2 The evolving size of the public share: public social expenditure by sector .................................. 67
5.3 Models of Social Service Provision: Who does what and how? .......................................................... 72
5.3.1 Practices in public social service delivery ..................................................................................... 72
5.3.2 The governance of public benefits and budgets ............................................................................ 73
5.4 Evaluating what works in social service provision .............................................................................. 75
5.4.1 Good practice in service provision ................................................................................................ 75
References .................................................................................................................................................. 78
6 SOCIAL IMPACT INVESTMENT MARKET DATA: INITIAL FINDINGS ......................................... 80
6.1. Introduction ......................................................................................................................................... 80
6.2. Data types and data collection purposes ............................................................................................. 81
6.3. Review of Existing Data Sources: Data sources by framework component ....................................... 81
6.3.1. Demand- side data ........................................................................................................................ 82
6.3.2. Supply-side data ........................................................................................................................... 85
6.3.3. Intermediaries and transactions .................................................................................................... 89
6.4. Current Approaches to Data Collection .............................................................................................. 92
6.4.1. Top-down approach ...................................................................................................................... 92
6.4.2. Bottom-up approach ..................................................................................................................... 93
6.4.3. Surveys ......................................................................................................................................... 94
6.5. Current SII data and market estimation .............................................................................................. 96
6.5.1. Academic literature building on SII data...................................................................................... 97
6.5.2. Industry reports ............................................................................................................................ 98
6.6. Challenges in SII data collection ...................................................................................................... 100
6.7. Possible Future Approaches for Data Collection .............................................................................. 101
References ................................................................................................................................................ 105
ANNEX 6.1. LIST OF EXISTING DATA SOURCES .............................................................................. 108
ANNEX 6.2. LIST OF OECD DATA SOURCES RELEVANT TO SII ................................................... 110
7. POLICY ACTIONS AND IMPLICATIONS .......................................................................................... 112
7.1. Policy Actions and Implications ....................................................................................................... 112
7.2. Policy actions to date ........................................................................................................................ 112
7.3. Recommended policy actions for building the evidence base .......................................................... 114
7.3.1 Developing common definitions ................................................................................................. 114
7.3.2 Building the necessary data infrastructure .................................................................................. 115
7.3.3 Primary impact measurement ...................................................................................................... 115
7.4. Evaluation of Broader Social Impact Investment Outcomes ............................................................ 117
7.4.1 Evaluating cost effectiveness or cost-benefit ratios? ................................................................... 118
7.4.2. Measuring social impact: selecting social outcome measures.................................................... 119
7.4.3. Methodologies and challenges for evaluating outcomes ............................................................ 122
References ................................................................................................................................................ 123
ANNEX 7.1. EXAMPLES OF POLICY INSTRUMENTS IN G7 COUNTRIES AND AUSTRALIA .... 125
8. CONCLUSIONS AND NEXT STEPS ................................................................................................... 127
GLOSSARY ................................................................................................................................................ 129
ANNEX A. OECD EXPERT MEETINGS: LIST OF PARTICIPANTS ................................................... 135
6 © OECD 2015