The Spaces of Social Finance: Poverty Regulation Through the “invisible Heart” of Markets

This dissertation critically examines social finance as a mechanism for poverty regulation, questioning whether it truly creates broader social benefits or entrenches financial logics into social welfare. Through case studies, it analyses how social finance, particularly social impact bonds, represents and values financial and social impact. The research suggests that social finance may shift governance towards profit logics, prioritizing investor decisions and segmenting populations based on investment attractiveness, rather than fundamentally altering financial practices.