This study is approach to new finantial problem for regional Development. Ordinarily, financing to public investment are support by public finance. When this financing do not avail, local governmental sector will issue to local public bond. This bond selles to private financial market in this region. But, this bond is less liquidity bond we call “Enko-sai” on this bond in Japan. Then, this bond makes disturbance on private rigional financial market. This disturbance more makes to other private economic activity in this region.
For adjustment on this economic problem, we must have two ways of control. There is control to public investment and makes to this finanical bond controlled new policy.
