对于乡镇企业的改制 ,一般的解释是企业内部的经营效率低下是推动政府改制的根本原因。但实际上 ,从现实观察到的却是有相当一部分地方政府对改制的态度是“靓女先嫁” ,即越是好企业越应当早出售 ,这对传统的解释是一个挑战。另一方面 ,理论界一直认为乡镇企业的大发展与政府对它的支持密不可分。但是 ,1 997年全国性的企业改制在很大程度上却又是由地方政府发起的。那么究竟是什么因素的变化造成了政府行为的彻底转变呢 ?这些问题都很难在出现的理论框架中得到满意的回答。本文发展出了一个理论模型 ,从中可以看到造成上述疑问的关键是 ,原有关于乡镇企业的解释忽视了改制其实是集体经济和私营经济争夺政府资源的结果 ,只有把改制放在中国市场化进程中政府支持的“含金量”下降的大背景下 ,才能真正理解改制的含义。 For the restructuring of township enterprises, the general explanation is that the inefficient operation of enterprises is the root cause of the government restructuring. However, in reality, what we observe from the reality is that a considerable part of the local government's attitude toward restructuring is “getting married first”, that is, the better the business should sell, the more traditional explanation is a challenge. On the other hand, theorists have always believed that the great development of township and village enterprises is inseparable from the government's support for it. However, the national enterprise restructuring in 1997 was to a large extent initiated by local governments. So what changes have caused the complete change of government behavior? These problems are difficult to get the satisfactory answer in the theoretical framework that appears. This paper developed a theoretical model, from which we can see the key to the above question is that the original interpretation of township and village enterprises ignored the fact that the restructuring of the collective economy and the private economy for the government resources for the results, only the restructuring of the market in China Under the backdrop of the declining “gold content” supported by the government in the process, we can really understand the meaning of the system reform.