Marketization,Human Capital and Economic Growth Effect: Evidence from the Panel Data of China's Provinces

Taking human capital as the core element,the expanded economic growth model absorbs the marketization factor as well.The empirical analysis shows that human capital has positive effects on economic growth,but its productivity effects depend on the market environment,and marketization affects economic growth by both direct and indirect influence through human capital.The development of non-state-owned economy and factor market,as well as the relationship between government and market,has positive effects on productivity effects of human capital,while the development of market intermediary organizations and the environment of legal system have direct noticeably positive effects on economic growth.However,there is obvious difference in marketization's productivity effects of human capital and its effects on economic growth among three economic regions in China.