Widiati, Arumdyah (2024). Provision of an enhanced road safety financing mechanism through the application of social impact bonds. University of Birmingham. Ph.D.
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Abstract
Attempts have been made in low and middle-income countries (LMICs) to reduce the number of road fatalities and injuries through the implementation of road safety programmes. However, the results were not as expected and still tended to increase. It has been identified that weak road safety management causes low road safety performance in LMICs and high-income countries (HICs).
This study investigates the potential implementation of social impact bonds to improve road safety performance in low and middle-income countries, using Indonesia as a study case. A social impact bond (SIB) is an outcomes-based payment tool with a multi-sector partnership among government, private, community, and non-profit organisations.
The study consists of two main parts. Part one assesses the road safety management system, including road safety financing, in terms of the robustness of the road safety target, the efficiency and effectiveness of the institutional arrangement, the effectiveness of road safety intervention delivery, and the financial availability and capacity. Part two investigates the implementation of SIBs for road safety to improve the road safety management system, which consists of assessing the suitability of SIBs to improve road safety management and develop SIB delivery and payment structures.
The findings show that road safety management performance at the national and local levels is still below the margin. Therefore, implementing SIBs is expected to improve road safety management performance by utilising outcome-based payment and multi-sectoral partnerships. Furthermore, the investigation of the potential implementation of SIBs for road safety shows that SIBs may be implemented in Indonesia, with some conditions and structures to address the current road safety management. Three SIB delivery structures are proposed, which can be implemented in Indonesia with specific requirements that must be met before implementation. Two models of investment cases were demonstrated: economic and financial cases. The financial case generates a low rate of return, which may make SIB investment unattractive to potential investors. The economic case generates a higher return payment. However, the benefits of this model are spread to many stakeholders.
| Type of Work: | Thesis (Doctorates > Ph.D.) | |||||||||
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| Award Type: | Doctorates > Ph.D. | |||||||||
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| Licence: | All rights reserved | |||||||||
| College/Faculty: | Colleges > College of Engineering & Physical Sciences | |||||||||
| School or Department: | School of Engineering, Department of Civil Engineering | |||||||||
| Funders: | Other | |||||||||
| Subjects: | H Social Sciences > HE Transportation and Communications H Social Sciences > HJ Public Finance T Technology > TA Engineering (General). Civil engineering (General) |
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| URI: | http://etheses.bham.ac.uk/id/eprint/14709 |
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- Provision of an enhanced road safety financing mechanism through the application of social impact bonds. (deposited 25 Mar 2025 13:37) [Currently Displayed]
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