Government Financial Investment Research Articles

Integration and Enabling: Macao's Social Policy Shift during Post-Pandemic Era

The COVID-19 epidemic has had a great impact on the economies of various countries, and social policies are also facing a period of major adjustment opportunities. According to people's expectations, it is necessary to re-examine the supply mechanism of social welfare through social policy innovation. As a result of the epidemic, Macao's economic fluctuations are exacerbated and the government's fiscal revenue has declined. This has led to a certain degree of vulnerability in the social welfare system dominated by government financial investment, which directly affects the stability and sustainability of Macao's social policy system. Based on the challenges and countermeasures of the epidemic in Macao, this paper proposes that it is necessary to further integrate existing social policies, build a social safety net, strengthen investment in human capital, enhance residents' ability to resist social risks in pursuit of welfare, promote economic development through social policy adjustment to balance government-market-individual welfare responsibilities, establish sustainable social policies, and push for high-quality social development.

The coupling coordination characteristics of China's health production efficiency and new urbanization and its influencing factors.

Urbanization leads to dramatic changes in habitat quality, which significantly affects population health. Research on the coupling coordination relationship between new urbanization and health production efficiency is conducive to improving residents' well-being and urban sustainable development. In this article, we adopted the super-efficient SBM model and entropy value method separately to evaluate the spatiotemporal variation characteristics of health production efficiency and new urbanization in China. Then, we used the coupling coordination degree model to investigate the interactive coercing relationship between new urbanization and health production efficiency. Finally, the panel Tobit model is used to analyze the factors influencing the coupled coordination of the two systems. The results showed that the new urbanization levels of 31 provinces in China have all steadily increased from 2003 to 2018. Health production efficiency exhibited a fluctuating but increasing trend, and its regional differences are gradually narrowing. Health production efficiency and new urbanization have developed in a more coordinated direction, with a spatial pattern of "high in the southeast and low in the northwest." Meanwhile, the relative development characteristics between the two systems have constantly changed, from the new urbanization lagged type to the two systems synchronized type and the health production efficiency lagged type. Population density, economic development level, government financial investment, and government health investment positively impact the coupling coordination degree of the two systems. In comparison, individual health investment harms the harmonization of the two systems.

Research on the Evaluation and Improvement Paths of Fiscal Environmental Protection Expenditure Efficiency under the "Double Carbon" Vision

Government financial investment in environmental protection is an important material guarantee to support green development. It has the dual functions of promoting economic transformation and protecting resources and the environment. It is of great practical significance in promoting China's economy to move towards a high-quality development track. Based on the fiscal environmental protection expenditure data of 31 provinces in China from 2013 to 2022, the article constructs a DEA-BCC model to measure the efficiency of fiscal environmental protection expenditure in each region. It further constructs a restricted dependent variable Tobit model to empirically test the influencing factors, and proposes to improve fiscal environmental protection expenditure. Diversified paths for environmental protection expenditure efficiency in order to achieve high-quality economic development.

Factors Affecting China Birth Rate: Taking Shanghai as an Example

China's birth rate has fallen off a cliff in the past few years, and the total birth rate has fallen below 10 per thousand. On January 17, 2022, the Chinese National Bureau of Statistics released China's economic data for 2021. The annual birth population was 10.62 million, and the birth rate was 7.52‰. But in 2016, that figure was still 13.57‰. Previous studies have explored various influencing factors, but further research is needed on the degree of influence of multiple factors on the birth rate. Based on previous research, this study adopts mathematical-statistical methods such as principal component analysis, correlation analysis, stepwise multiple regression, and ridge regression to analyze more influencing factors to explore and test the effect of these factors on the birth rate and uses the data of the Shanghai Bureau of Statistics from 2002-2021 for 19 years to try and judge which factors significantly affect the birth rate under the joint action. The validity of the judgment conclusion is tested by various data from Beijing and Guangzhou in 2021. Results of the study found that the per capita GDP, unit housing price, per capita disposable income, and resident consumption index do have an impact on the birth rate. Still, the government's financial investment and expenditure correlate highly with the birth rate data. This may be because government revenue and expenditure are more closely related to other factors affecting the birth rate. Other factors were not very closely related to the birth rate.

Analysis of technological innovation on provincial green development levels of logistics industry in China.

The transition from traditional logistics to green and low-carbon logistics is crucial and inevitable due to the pressure of climate change and sustainable development in China. Meanwhile, technological innovation is perceived as an important factor affecting the development of the logistics industry. To explore the impacts of technological innovation and other factors and to propose proper policies based on the results, this study utilizes a generalized estimating equations (GEE) regression model to analyze panel data of 30 provinces during 2001-2019. Firstly, the entropy weight method is applied to calculate the green logistics development level based on an index system considering green factors. Secondly, a GEE model which considers the correlation among different observations is used to investigate the impacts of crucial factors on the green logistics development level. Moreover, regional heterogeneity is also analyzed in this paper by comparing the regression results of the Eastern region, Central region, and Western region. Based on the above analysis, several conclusions are drawn: (1) In terms of the average green logistics development levels, the Eastern region ranks 1st, the Central region ranks 2nd, and the Western region ranks 3rd. (2) GEE regression model is proved effective in our sample. (3) For the full sample, technological innovation, trade openness, and logistics infrastructure positively affect the green logistics development level; while, government regulation and energy intensity negatively influence the green logistics development level. (4) Regional heterogeneity is confirmed in our sample. Related policy recommendations are proposed based on our regional regression results. Take the Eastern region as an example, the local governments in the Eastern region should upgrade the manufacturing industry, reduce government financial investment in the transportation sector, and enhance environmental control expenditure in the transportation sector.

Employment of master’s degree graduates in Kazakhstan: navigating an uncertain labour market

ABSTRACT This article explores the employment experiences of government scholarship graduates from one master’s degree programme at a flagship university in Kazakhstan. Analysis of interviews with graduates of a master’s degree programme designed in response to a national policy agenda shows that graduates encountered numerous challenges transitioning from university to work despite obtaining a degree from a top Kazakhstani university. The key challenges included limited employment opportunities, hostile attitudes toward younger graduates, difficult working conditions and employers’ misunderstanding of the new master’s programmes. We argue that despite significant government financial investment in education, a weak enabling support system hinders graduates’ career advancement and results in job mismatch and underutilization of skills. We suggest that policymakers need to shift debates on human capital development and graduate employability from supply-side factors to a more comprehensive model in which graduate employment is supported through the collaboration of the higher education system, industry, policymakers and graduates themselves.

Effects of Local Government Behavior on University–Enterprise Knowledge Flow: Evidence from China

Government financial investment has been increasingly adopted as a policy support to stimulate university–enterprise cooperation, however, empirical research from the perspective of knowledge flow remains limited. We reason that school–enterprise knowledge flow can be divided into dual stages, namely, knowledge creation and knowledge transfer, and this dual efficiency can be measured with the super-efficiency DEA model. The results show that the average value of knowledge creation efficiency (KCE) is higher than knowledge transfer efficiency (KTE). We adopt the Dynamic Generalized Spatial Model method to study the effect of government support on knowledge flow dual efficiency, and the regression results show that government support has a nonlinear effect on KCE while having a positive impact on KTE. We find that intergovernmental competition has a moderating influence on the relationship between government support and dual efficiency. Fiscal transparency can enhance the moderating effect of intergovernmental competition.

고등교육재정에 대한 새 정부의 과제

The purpose of this study is to propose a new government task on higher education finance. For the study, related literature, financial data, and media reports were analyzed.
 The results are as follows: First, the cost per student in the higher education stage is lower than in OECD countries, and even lower than the elementary level. Despite the increase in the higher education budget over the past decade, the government's financial investment has been mainly on the National Scholarship and universities' tuition income has been effectively decreasing. Second, as a result of evaluating the 10-year basic plan for higher education financial investment, it was analyzed that the government's overall fiscal investment in higher education was quite close to the original target. However, most indicators failed to achieve their goals as the method of financing was achieved through restructuring of existing budgets. Finally, as a plan to expand higher education finances, it was proposed to improve the legal suitability of tuition policies and to prepare a legal basis for stable securing higher education finances.
 Despite the inadequate level of financial investment in higher education, discussions on higher education finances have mainly focused on the allocation issues, and practical efforts have been insufficient to expand the size of finance itself. According to the 2021-2025 National Financial Management Plan, the government's investment in higher education is unlikely to be improved. Based on the results of the 10-year basic plan for higher education, the government needs to set specific level of financial investment goals in the basic plan for higher education and implement stable higher education finances with a legal foundation beyond securing restructuring levels.

Impact of sci-tech finance on the innovation efficiency of China's marine industry

To realize the high-quality development of China's marine economy, it is important to vigorously promote blue finance and increase the support of science and technology finance for the innovation development of the marine industry. Based on the existing literature research, this paper uses two-step empirical evidence to investigate the role of science and technology finance on the innovation efficiency of the marine industry by combining the development status of science and technology innovation, science and technology finance in the marine industry. The results of the study show that government financial investment in science and technology finance has a significant contribution to the innovation efficiency of the marine industry; The innovation efficiency of marine industry is positively but not significantly affected by the investment of enterprises' funds in science and technology, and the innovation efficiency is inhibited by the investment in entrepreneurial risk management. In addition, there are still large differences in the efficiency of innovation in the marine industry among different regions. Moreover, we propose the government support the marine industry science and technology innovation fully, optimize risk investment and improve the investment return guarantee mechanism, and unblocked the indirect financing channels of the financial market for the sea-related science and technology innovation enterprises, and give policy recommendations to develop the marine industry science and technology innovation activities.

Impact of Public Health Equalization on Residents’ Health and Economic Growth: An Empirical Analysis from Jiangsu Province (2006–2015), China

Abstract Public health equalization has a significant impact on residents’ health and economic growth. Recently, studies suggested the persistence of series of public health unequal issues in China, such as imbalanced government financial investment, unreasonable configuration of public health resources, etc. The healthcare system in Jiangsu province is a microcosm of the pattern of healthcare delivery in China. Identifying developmental differences in Jiangsu and consequential effect on healthcare output can serve as a good reference for comparing performance of healthcare facilities within China in general. Based on the Model of Health the Healthy Production from Grossman and Lucas’ New Endogenous Economic Growth Model, we selected data from China Statistical Yearbooks and Jiangsu Statistical Yearbooks. 13 cities in Jiangsu province were divided into three groups, categorized as economically developed areas, relatively economically developed areas and less-economically developed areas. The panel cointegration model and e PVECM PVECM error correction model based on E-G two-step method are utilized for empirical research. During the period of 2006–2015, there were differences between the short term effect and long term effect on regional development resulted by the public health equalization level of Jiangsu Province. In the short term, the healthcare investment equalization level has been improved, to a certain extent, which executes a certain promoting effect on the people’s health development and regional economic growth in the long term, which restraint the improvement and development of long term public health equalization level and stimulating on the residents’ health and economic growth. The government of China in general and Jiangsu province in particular could ensure the efficiency of public health human resources, reform the public hospital internal system and establish an effective competition system, aiming to improve the public health equalization and promote balanced development of residents’ health and economic growth.

Quantitative Research on the Science and Technology Investment and Economic Growth of Guangdong Province from the Perspective of Intelligent Data Analysis

Intelligent data analysis can use data analysis tools such as statistics and data abstraction to discover the correlation between variables in the data. Use the relevant principles of intelligent data analysis to quantitatively research the relationship between Guangdong Province’s financial technology investment, R&D expenditure and economic development. The quantitative results show that both government financial investment in science and technology and R&D expenditure have an important impact on economic development. Among them, the influence of R&D expenditure is more significant, and there is also a clear positive relationship between government financial investment in science and technology and R&D expenditure. Based on the results of intelligent data analysis, it is proposed that Guangdong Province should make great breakthroughs in the leveraging of financial science and technology funds, the implementation of the main role of enterprises in science and technology investment, and strengthening of scientific research capabilities of scientific research institutions to provide new momentum for achieving high-quality economic development.

The scale and structure of government financial investment in traditional medicine based on optimal efficiency: evidence from public traditional Chinese medicine hospitals (PTHs) of Henan province, China

BackgroundTraditional medicine has been widely used to address relatively common illnesses. In this regard, Chinese government has been continually topping up its investments on public Traditional Chinese Medicine hospitals (PTHs) in recent years. This study aimed to assess the optimal scales and structure of the investments in Henan province by analyzing the contribution of Government Financial Investment (GFI) to the efficiency and revenue growth of PTHs as well as recommending proper investment strategies for implementation to policy-makers.MethodsThis study was a panel data study, conducted in Henan Province, China. By collecting 143 PTHs’ operational data from the year 2005 to 2017, Barro Economic Growth (BEG) model, Stochastic Frontier Analysis (SFA) and Vector Autoregressive (VAR) model were used to assess the efficiency and PTHs revenue.ResultsThe study observed the positive contribution of GFI to PTHs’ revenue growth (average MPG = 2.84), indicating that the GFI had not reached the required optimal level of “Barro Law”. In order to maximize the input-output efficiency, the scales of GFI on Grade III, Grade II A, Grade II B PTHs need to be increased by − 5.96, 4.88 and 11.51%, respectively. The third year following the first investment may be a more essential period for conducting an effective GFI evaluation in Henan Province.ConclusionsGFI on PTHs usually has a long-term impact on PTHs. Governments can adjust its GFI policy so as to maximize the input-output efficiency.

The Impacts of Social Security Expenditure on Rural Residents' Medical Consumption in Hubei Province

This paper analyzes the effect ofSocial Security Expenditure issued by Hubei Province on health services for the peasantry, and provides the evidences towards the integration process regarding medical insurances of the urban and the countryside.Based on the related economical data collected from countrysides area of Hubei province from 2003-2019, this paper utilizes the outcome of Cointegration and Granger Casual Relation Test to prove the relation from social security and employment fiscal expenditures and rural households’ annual per capita net income.Then the research adds the control variables to perform the examination on robustness. The study shows that the social security expenditure has a significant impact on rural residents' medical consumption.Considering that medical insurance is an important part of social security,we should ensure the steadiness of the further improvement achieved by system of health insurance,increase government financial investment and strengthen the construction of rural basic health and medical facilities.Hubei Province should improve the level of rural medical and health security, strengthen management, improve efficiency and improve mechanisms, and deepen the reform of the medical and health system.Therefore, the economical burden of rural residents brought by seeking medical treatment will be reduced in order to narrow the difference between the urban and the countryside which will further promote the equality in medical system.

Analyzing the spatiotemporal dynamics of flood risk and its driving factors in a coastal watershed of southeastern China

Rapid urbanization and climate change can cause more extensive flood risk, in the absence of urgent and efficient adaptation measures. As the occurrence of floods varies with time and space, comprehensive and dynamical assessment of the spatiotemporal variability of flood risk and understanding of its drivers is vital for flood risk management. In this study, we developed a spatial multi-criteria analysis (SMCA) framework for quantifying the spatiotemporal dynamics of flood risk through a case study in a coastal watershed of southeastern China from 1990 to 2015. A comprehensive framework for flood risk assessment was constructed from the hazard, exposure, sensitivity and adaptive capacity components with 23 indicators. The results showed that the highest risk happened in the stage of 2006–2010, while the lowest risk stage was 2011–2015, with higher flood risk in the downstream areas of Jiulong River watershed (JRW). The contribution of each indicator reflects the difference in temporal, spatial and quantity aspects. The top 5 driving factors for JRW included: peak discharge, maximum daily rainfall, age structure, wetland, and reservoir. The risk perception showed a continuous growing impact on flood risk. However, some indicators only showed obvious contributions in the specified area: for example, the built-up expansion in Zhangzhou city; the increase of dike length and the improvement of dike standard in Xinluo district; and the increase of government financial investment in Zhangping and Liancheng district. This study demonstrates the well-performance of our proposed novel approach for flood risk assessment. Our results and conclusions are also of significance for policymakers to understand and point out the deficiencies in the current actions of flood adaption, and consequently develop more targeted and spatially-specific strategies for flood adaptation, in the context of climate change and rapid urbanization.

Endogenous and Countermeasure Research on the Imbalance of Compulsory Education Resources Allocation in Urban and Rural Areas of China

Balanced allocation of educational resources in urban and rural areas between urban and rural education, is to realize the optimization of development and enhance the basic security level of education in China. At present, China's urban and rural area compulsory education resources allocation funds are not generally showing a large difference between urban and rural areas, and other issues. This paper discusses the existing problems of urban and rural compulsory education resource allocation and then from the endogenous, promote the balanced allocation of resources, protection of government financial investment, perfecting the evaluation accountability mechanism, put forward the optimization strategy and improve the supervision and management system, to promote the balanced development of urban and rural compulsory education.

Analysis on funds application of community based organizations involved in HIV/AIDS response and government financial investment in China, 2014

Objective: To understand the government financial investments to community based organizations (CBO) involved in HIV/AIDS Control and Prevention of China and its influencing factors. Methods: Questionnaire of the situation of CBO involved in HIV/AIDS control and prevention were designed, and filled by the staff of Provincial Health Administrative Departments of 31 provinces (autonomous regions and municipalities). The research focused on the fields of CBO involved in HIV/AIDS response in 31 provinces (autonomous regions and municipalities), including intervention on HIV/AIDS high risk population (female sex worker (FSW), man who sex with man (MSM), drug user (DU) and case management and care for people living with HIV/AIDS (PLWH)). 29 valid questionnaires were collecting, with Shanxi Province and Inner Mongolia Autonomous Regions not filled. Questionnaire included financial supports from local governments, transfer payment from central government for CBO involved in HIV/AIDS response in 2014, and unit cost for CBO involved in HIV/AIDS control and prevention. Multivariate analysis was conducted on the project application and financial investment of community based organizations involved in HIV/AIDS control and prevention in 2014. Results: The total amount of CBO to apply for participation in AIDS prevention and control was 64 482 828 Yuan in 2014. The actual total amount of investment was 50 616 367 Yuan, The investment came from the central government funding, the provincial level government funding, the prefecture and county level government funding investment and other sources of funding. 22 of 28 provinces (autonomous regions and municipalities) received the funds from the central government finance, and median of investment funds 500 000 Yuan. 15 provinces (autonomous regions and municipalities) gained the funds from the provincial government finance, and median of investment funds 350 000 Yuan. 12 provinces (autonomous regions and municipalities) got the funds from the prefecture and county level government finance, and median of investment funds 408 750 Yuan. 12 provinces (autonomous regions and municipalities) acquired the funds from other sources, and median of investment funds 228 400 Yuan. The median (P(25), P(75)) unit costs of intervention for FSW from 16 provinces (autonomous regions and municipalities) was 70 (23, 280) Yuan per year; DU from 14 provinces (autonomous regions and municipalities) was 83 (44, 200 ) Yuan per year; MSM from 16 provinces (autonomous regions and municipalities) was 100 (35, 280) Yuan per year; the follow-up and care for PLWH from 17 provinces (autonomous regions and municipalities) was 200 (45, 500) Yuan per year. Multivariate linear regression analysis results showed that the amount of PLWH in 2014 influenced on the total number of application funds of CBO involved in HIV/AIDS response (b=178.11, 95% CI: 51.86-305.36) and the amount of PLWH (b=77.72, 95% CI: 16.28-139.16), and Gross Domestic Product (GDP) per capita of the province (b=36.20, 95% CI: 4.60-67.80) impacted financial investment to CBO involved in HIV/AIDS response, respectively. Conclusion: Funds application and financial investment of CBO involved in HIV/AIDS control and prevention were huge. Financial investment from government was main resources for CBO in 2014. The amount of financial investment funds from governments was influenced by the HIV/AIDS epidemic situation and the development level of local economic.

Econometric Analysis of Local Government Investment Efficiency and the Debt Risk Based on the DSGE Model

This paper examines the relationship between the efficiency of government investment and the debt risk from a theoretical perspective. By building a DSGE model, we introduced the impact of government financial investment, and investigated the change of debt risk under different government investment efficiency. From the model, we observed a obvious reverse effect bwteen the the government investment efficiency and debt risk. Finally, according to research conclusions, we put forward some Suggestions.

Signal regulatory protein alpha (SIRPA) and kinase domain receptor (KDR) are key expression markers in cardiac specific precursor selection from hADSCs

BackgroundCardiomyocyte enrichment strategies so far have not yielded scalable cardiac specific cell type. More so, the current data is restricted to embryonic stem cells (ESCs)/induced pluripotent stem cells (iPSCs), wherein the use of viral vectors is fraught with increased risk during clinical use. Herein, we profiled time-dependent gene/protein expression patterns across the cardiac ectoderm, endoderm, and mesoderm for isolating cardiac precursors from human adipose derived stem cells (hADSC). MethodsDirect cardiac differentiation of hADSCs was carried out with 5-azacytidine and basic fibroblast growth factor (bFGF) in a one month long culture. The cells were periodically harvested, analyzed for unique persistent markers and their inherent regulation using quantitative polymerase chain reaction (qPCR), flow cytometry, immunoblot and immunocytochemistry assays. The identified markers were super paramagnetic iron oxide nanoparticle (SPION) tagged for segregation by magnetic activated cell sorting (MACS) and further evaluated their differentiation potential and checked for the purity by flow cytometry. ResultsThe results demonstrated pronounced up-regulation of mesodermal and mature cardiac lineage markers at three weeks, while there was a down-regulation of pluripotent stem cell markers. This perhaps could be attributed to de-differentiation in maintaining the cardiac phenotype. However, signal regulatory protein alpha (SIRPA) and kinase domain receptor (KDR) persisted all through the culture period of one month, making them the most relevant and reliable cardiac specific markers. Dual labeling of these markers to SPION for cardiomyocyte enrichment by MACS column yielded cardiomyogenic-like cells in differentiation cultures with several functional positive markers. ConclusionsThus, SIRPA and KDR together provide cues in the enhancement and up-scaling of cardiomyocyte production in the cell replacement therapy. Focal points•BenchsideIdentification of specific cell phenotypic markers to identify cardiac precursors in any tissue source with minimal cell manipulation is a novel process development tool in clinical translation.•BedsideA product developed in a closed system would minimize extraneous contaminants in long term cultures and development of such procedures minimizes culture failure rates from bench side.•IndustryThis unique identification of cell-specific marker would enable a tissue-specific translational plan and immensely help in the cardiac regeneration.•GovernmentFinancial investment and support from the government is vital in the optimization and validation for better health care and would contribute in reducing the disease burden.•RegulatoryThe stringent regulatory guidelines worldwide on minimal cell manipulation for entering into stem cell based clinical trials preclude the need to develop alternate approaches in product and process developmental technology, which can be easily translated in a clinical setup.

Suggestions to improve the compensation mechanism of public hospitals

According to the target-model of the health care system and characteristics of the health financing system, it is proposed in the paper that the charges of medical services should be the main revenue of public hospital compensation. Efforts should be made to adjust health care service prices and strengthen pharmaceutical management simultaneously so as to rebuild the structure of medical service charge. Medical insurance should make the majority in the compensation to cover most the medical expenses, with government subsidies supporting development. Both government financial investment and medical insurance should join their efforts for planning-guidance and performance-guidance. The authors also suggested to improve a graded and normative diagnoses and treatment system, regulate medical behaviors of public hospitals and their cost standards, justifying the total compensation and standard verification of such hospitals. Key words: Public hospital; Compensation mechanism; Price adjusting; Incentive

SOC건설사업의 총사업비 관리체계 개선방안

2008년 Global 금융위기로 국내경기가 침체국면에 진입함에 따라 정부는 국내경기 활성화를 유도하기 위해 SOC예산을 증액하고 조기집행하고 있다. 정부에서는 재정투자사업에 대한 예산증액을 예방하기 위한 목적으로 총사업비관리지침을 1994년 제정하였고 후속적으로 관련제도를 보완 정비하면서 SOC건설사업의 사업비를 관리하고 있다. 이러한 정부의 사업비 증가방지에 대한 의도와는 달리 실제 시행되고 있는 SOC사업에서 총사업비가 대폭 증가하는 사례가 나타나고 있으며, 사업추진과 연관된 정부기관 및 연구기관에서는 총사업비 관리방안에 대한 보완 및 개선의 필요성을 주장하고 있다. 본 연구에서는 국내 SOC사업의 총사업비 관리체계에 대한 개선방안을 제시하고자 한다. 이를 위해 본 연구에서는 현행 SOC사업의 총사업비 관리현황을 고찰하여 As-Is Model을 정리하고, 해외 건설선진국에서 시행하고 있는 건설사업 사업비 관리현황을 통해 국내와의 차이점 파악하였으며, 국내 기존 총사업비 현황고찰자료 분석 및 해외 총사업비 관리현황과의 비교를 통해 국내 SOC건설사업의 총사업비 관리와 관련된 문제점을 도출하고, 제기된 문제점을 개선할 수 있는 총사업비 관리방안을 제시 하였다. As the Korean economy went into a recession because of the global financial crisis in 2008, in order to vitalize the Korean economy, the government raised SOC budget and made its execution earlier. To prevent increases in budget for the government financial investment projects, the government controlled the project cost of SOC construction projects by enacting 'Guideline for total project cost management' in 1994 and complementing the relevant system. However, different from government intention, the total project cost of SOC projects were increased drastically. Hence, the government authorities and research institutions insisted the necessity of supplementation and improvement for the total project cost management system. This research is to provide the improvement for the total project cost management system of domestic SOC projects. In this research, As-Is Model was adjusted considering status of the total project cost management in the current SOC projects. Also the cost management of construction projects between domestic and other developed countries was studied, analyzed and compared. Based on the above, problems related to total project cost management of domestic SOC projects were found out and an improved total project cost management was provided to improve these problems.