The priority of the environmental policies has come to be very high and important in the various types of policies of the Local Governments. The actual execution processes of the policies responsible to the local governments were examined in the present research. The topics those discussed in the present research were (1)Comparisons methods of the energy consumption efficiency in the wastewater treatment plant operated under the responsibility of the local governments ; (2)Evaluation of the decision making processes of solid wastes management ; (3)Practice of the management and utilization of environmental information in the local governments ; (4)Proposal of the decision making processes of people's participation in the policy formation of local governments.
In the research topic (1), the comparison of the energy consumption efficiency among the all treatment plants of 1859 in number in Japan was carried out using the data collected in the historical data summarized by the Japan Association of Sewage Works. The standard values of the energy consumption depending on the type of treatment processes and regional characteristics were determined and proposed.
In the research topic (2), it was found that the low price of the solid waste collection fee was not good to keep the systems sustainable. It seems important to give clear purposes, information, and participation schemes to people of the region in the incentive systems for solid wastes management.
In the research topic (3), the administration systems of the local governments for the environmental aspects were investigated and appropriate methods of disclosing the environmental data to the public were proposed. In the tentative analysis of the home page performances of 60 cities in Japan, Tokyo, Yokohama, Tottori, Me, Gifu, Tokushima, Kagawa, and Ibaragi prefectures are appreciated by the assumed citizens of students.
In the research topic (4), the method of systems dynamics was applied to the policy making processes of the local government for a possible scheme of encouraging the participation of citizens. As examples of the method, two plans of the regional development in Gunma Prefecture were examined in the present research. It was shown that the method was usable effectively to include responses from citizens in the planning process of the regional development.

This Research is on the local bond system in Japan. Issuing local bond is a vital fund raising system of local government in Japan. It is indispensable that desirable reform of issuing and operating system of local bonds should be considered.
The abstracts of this research are as follows :
First of all, I would product several new types of local bonds as financial goods and categorize local bonds from a point of view of various aspects which should be considered ; secondly, I would investigate the system which promote investors to participate into local bond markets in Japan and protect them legally; thirdly, I would analyze a prototype on operating systems of local bonds and technical skills of investors, which are necessary with expansion and development of local bond markets in Japan.
I found several points for local bond system in Japan through this research project.
At first, I could find the necessity of IR(Investor Relations) activities and disclosure of local authorities than before in order to promote institutional and individual investors to participate into local bond markets in Japan. This conclusion was found by the research of the status and current problems on primary and secondary markets of local bond in Japan. Secondly, I could find the importance of the diversity on local bonds in Japan as financial commodities, and the construction of investors-oriented system. This conclusion was found by the investigation through local debt system in the U.S. Finally, I could find the desirable allocation of the burden (the fee for financial activities and so forth) between local governments and financial institutions especially in the local area.