Performance-based development funding using market mechanisms: A public–private partnership social financing model for medical equipment technology in developing countries

Jasper Kim

doi:10.1177/1464993415578982

Performance-based development funding using market mechanisms: A public–private partnership social financing model for medical equipment technology in developing countries

Jasper Kim

Department of International Studies

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

This article analyzes the viability of utilizing a new performance-based development financing model related to funding medical equipment technology (MET) transfers to developing countries. In such an innovative model utilizing market-based incentives and public–private partnerships (PPPs or P3), social bond investors fund MET by receiving a social development ‘bond’ in exchange for a predetermined and agreed-upon amount of principal and interest to be paid only if the related MET project is deemed to satisfy certain predetermined, agreed-upon success metrics (as determined by a third party). Thus, the public sector only funds MET projects that are deemed successful based on the agreed success metric by all related stakeholders, with the MET transfer project being funded no matter what the circumstance. This performance-based model can complement existing funding models, which improves the transparency, coordination and efficacy of such MET development assistance projects in developing countries.

Original language	English
Pages (from-to)	257-269
Number of pages	13
Journal	Progress in Development Studies
Volume	15
Issue number	3
DOIs	https://doi.org/10.1177/1464993415578982
State	Published - 6 Jul 2015

Bibliographical note

Funding Information:
This work was supported by the Ewha Womans University Research Grant of 2012, Global Top 5 Project (Grant No.: 2012-1777-1). The author would also like to express appreciation to professors EunMee Kim, Pil Ho Kim, Jean Kang, Minah Kang, Pilwha Chang and Jinwhan Oh, for their invaluable feedback and comments on earlier versions of this article. This article was also immensely furthered by the invaluable medical equipment technology (MET) research of Yeon-Joo Oh (Researcher at Re-shaping Development Institute; Ewha MIS).

Publisher Copyright:
© 2015, © 2015 SAGE Publications.

Keywords

developing countries
market mechanisms
medical equipment technology
official development assistance
performance-based assistance
public–private social financing model

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10.1177/1464993415578982

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abstract = "This article analyzes the viability of utilizing a new performance-based development financing model related to funding medical equipment technology (MET) transfers to developing countries. In such an innovative model utilizing market-based incentives and public–private partnerships (PPPs or P3), social bond investors fund MET by receiving a social development {\textquoteleft}bond{\textquoteright} in exchange for a predetermined and agreed-upon amount of principal and interest to be paid only if the related MET project is deemed to satisfy certain predetermined, agreed-upon success metrics (as determined by a third party). Thus, the public sector only funds MET projects that are deemed successful based on the agreed success metric by all related stakeholders, with the MET transfer project being funded no matter what the circumstance. This performance-based model can complement existing funding models, which improves the transparency, coordination and efficacy of such MET development assistance projects in developing countries.",

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Performance-based development funding using market mechanisms: A public–private partnership social financing model for medical equipment technology in developing countries

Abstract

Bibliographical note

Keywords

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