Capital And The Common Good: How Innovative Finance Is Tackling The World's Most Urgent Problems (columbia Business School Publishing)
by Georgia Levenson Keohane /
2016 / English / EPUB
1.1 MB Download
Despite social and economic advances around the world, poverty and
disease persist, exacerbated by the mounting challenges of climate
change, natural disasters, political conflict, mass migration, and
economic inequality. While governments commit to addressing these
challenges, traditional public and philanthropic dollars are not
enough. Here, innovative finance has shown a way forward: by
borrowing techniques from the world of finance, we can raise
capital for social investments today. Innovative finance has
provided polio vaccines to children in the DRC, crop insurance to
farmers in India, pay-as-you-go solar electricity to Kenyans, and
affordable housing and transportation to New Yorkers. It has helped
governmental, commercial, and philanthropic resources meet the
needs of the poor and underserved and build a more sustainable and
inclusive prosperity.
Despite social and economic advances around the world, poverty and
disease persist, exacerbated by the mounting challenges of climate
change, natural disasters, political conflict, mass migration, and
economic inequality. While governments commit to addressing these
challenges, traditional public and philanthropic dollars are not
enough. Here, innovative finance has shown a way forward: by
borrowing techniques from the world of finance, we can raise
capital for social investments today. Innovative finance has
provided polio vaccines to children in the DRC, crop insurance to
farmers in India, pay-as-you-go solar electricity to Kenyans, and
affordable housing and transportation to New Yorkers. It has helped
governmental, commercial, and philanthropic resources meet the
needs of the poor and underserved and build a more sustainable and
inclusive prosperity.Capital and the Common Good
Capital and the Common Good shows how market failure in one
context can be solved with market solutions from another: an expert
in securitization bundles future development aid into bonds to pay
for vaccines today; an entrepreneur turns a mobile phone into an
array of financial services for the unbanked; and policy makers
adapt pay-for-success models from the world of infrastructure to
human services like early childhood education, maternal health, and
job training. Revisiting the successes and missteps of these
efforts, Georgia Levenson Keohane argues that innovative finance is
as much about incentives and sound decision-making as it is about
money. When it works, innovative finance gives us the tools,
motivation, and security to invest in our shared future.
shows how market failure in one
context can be solved with market solutions from another: an expert
in securitization bundles future development aid into bonds to pay
for vaccines today; an entrepreneur turns a mobile phone into an
array of financial services for the unbanked; and policy makers
adapt pay-for-success models from the world of infrastructure to
human services like early childhood education, maternal health, and
job training. Revisiting the successes and missteps of these
efforts, Georgia Levenson Keohane argues that innovative finance is
as much about incentives and sound decision-making as it is about
money. When it works, innovative finance gives us the tools,
motivation, and security to invest in our shared future.