Flagship Research Quarterly of the Indian School of Business (ISB). Find out more

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Past Issue • Jul-Sep 2011

Impact Investing: Harbinger of a Brighter Future and a Friendlier Bond Market?

Can proceeds from bonds pay for vaccines in poor nations? This article presents an overview of impact investing with special emphasis on social impact bonds.

Financial crises come and go. The bond market’s reputation endures. In the 1990s, Bill Clinton’s campaign advisor James Carville said, “I used to think if there was reincarnation, I wanted to come back as the president or the pope. But now I want to come back as the bond market. You can intimidate everybody.”


  • Shreedhar-Kanetkar

    Shreedhar Kanetkar

    Associate Director, Centre for Investment at the Indian School of Business (ISB).
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