Innovations in social protection financing: Impact Bonds

This paper discusses a series of innovations that took place in the field of social protection in the “global South”. It uses a broad definition of social protection in order to identify the different experiences of expansion and adaptation of the social protection systems, particularly, as a response to the financial crisis. Such approach aims at identifying the main features of these processes.

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The diversity of knowledge and skill is an important element of a national system of innovation. We propose a theory of how certain labor market institutions affect diversity, and through that route affect levels of innovation. Specifically, unemployment protection (UP) encourages diversity by reducing the risk burden of a broad range of learning, or human capital investment; for that reason, UP fosters innovation.

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Social protection benefits could theoretically lead to a distortion in marginal incentives given by market prices and, therefore, could have negative impacts on microeconomic behaviours potentially related to economic growth, such as saving and labour supply.

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This IDA-financed project, with joint technical assistance from the International Finance Corporation (IFC), takes an innovative approach to modernizing Côte d’Ivoire’s social protection system while leveraging the country’s digital foundation to help deliver social benefits to the country’s poorest and vulnerable populations. In 2015, the government worked with the World Bank Group to lay the foundations for a new national productive social safety net operation under the Productive Social Safety Net Project --a $50 million IDA-financed operation.

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South-South development tools, technology and innovations that support the achievement of SDGs for children

This study explores recent innovations in public works (PW) programming in sub-Saharan Africa to address the challenge of social protection provision in contexts of chronic mass under- and unemployment. Three ongoing national programmes introduced in the mid-2000s are explored: the Ethiopian Productive Safety Nets Programme, the Rwandan Vision 2020 Umurenge Programme, and the South African Expanded Public Works Programme (PWP).

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The history of international development cooperation has often been tarnished by the unintended negative consequences of aid agencies’ policies. But Indonesia’s notable progress in social policy reform—in which many bilateral and multilateral donors have also been deeply involved—represents a departure from this trend. What makes the Indonesian case different?

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Asha Williams, Social Protection Consultant for the Human Development Department, Latin America and Caribbean Region of the World Bank discusses the outcomes of the Third Caribbean Workshop on Social Protection and International Cooperation which was held in Barbados, September 2013.

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