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The economic importance of judicial institutions, their performance and the proper way to measure them

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  • MARCIANO, ALAIN
  • MELCARNE, ALESSANDRO
  • RAMELLO, GIOVANNI B.
Abstract
In the present paper we contribute to the previous literature on de facto enforcing mechanisms, by focusing on the role of judicial institutions and their performance and measurement. We propose both theoretical and empirical evidence supporting the necessity of a clear distinction between two measures of judicial performance, efficiency and efficacy, which have often been confused in previous literature. Not only might economic actors not be affected to the same extent by these two indicators, but we show that these measures do not even correlate significantly with each other. We also bring evidence against the alleged trade-off between the quality of justice and judicial performance in its quantitative dimension, showing that this relationship is much more complicated than is claimed by some legal scholars.

Suggested Citation

  • Marciano, Alain & Melcarne, Alessandro & Ramello, Giovanni B., 2019. "The economic importance of judicial institutions, their performance and the proper way to measure them," Journal of Institutional Economics, Cambridge University Press, vol. 15(1), pages 81-98, February.
    • Handle: RePEc:cup:jinsec:v:15:y:2019:i:01:p:81-98_00
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    Cited by:

    1. Acosta, Camilo & Mejía, Daniel & Zorro Medina, Angela, 2023. "On the Tension Between Due Process Protection and Public Safety: The Case of an Extensive Procedural Reform in Colombia," Documentos CEDE 20924, Universidad de los Andes, Facultad de Economía, CEDE.
    2. Duy Vu & Michele Pezzoni & Duc Lam Nguyen, 2021. "Arbitrator teams and dispute resolution performance: an empirical analysis," European Journal of Law and Economics, Springer, vol. 51(2), pages 347-381, April.
    3. Marciano, Alain & Ramello, Giovanni B., 2019. "Introduction to the symposium on the empirics of judicial institutions," Journal of Institutional Economics, Cambridge University Press, vol. 15(1), pages 73-80, February.
    4. Emery, Thomas & Mélon, Lela & Spruk, Rok, 2023. "Does e-procurement matter for economic growth? Subnational evidence from Australia," The Quarterly Review of Economics and Finance, Elsevier, vol. 89(C), pages 318-334.
    5. Miloš Božović, 2021. "Judicial efficiency and loan performance: micro evidence from Serbia," European Journal of Law and Economics, Springer, vol. 52(1), pages 33-56, August.
    6. Francesco Aiello & Graziella Bonanno & Francesco Foglia, 2021. "On The Heterogeneity In The Judicial Efficiency Literature: A Meta-Regression Analysis," Working Papers 202102, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.
    7. Shah, Muhammad Hashim & Xiao, Zuoping & Abdullah, & Quresh, Shakir & Ahmad, Mushtaq, 2020. "Internal pyramid structure, contract enforcement, minority investor protection, and firms’ performance: Evidence from emerging economies," Research in International Business and Finance, Elsevier, vol. 52(C).
    8. Melcarne, Alessandro & Ramello, Giovanni B. & Spruk, Rok, 2021. "Is justice delayed justice denied? An empirical approach," International Review of Law and Economics, Elsevier, vol. 65(C).
    9. Izaskun Zuazu, 2022. "Electoral systems and income inequality: a tale of political equality," Empirical Economics, Springer, vol. 63(2), pages 793-819, August.
    10. Angela Zorro Medina & Camilo Acosta & Daniel Mejía, 2020. "The Unintended Consequences of the U.S. Adversarial Model in Latin American Crime," Documentos de Trabajo de Valor Público 18406, Universidad EAFIT.
    11. Umberto Nizza, 2023. "The expertise effect: the impact of legal specialists’ intervention on the timely delivery of laymen's judgments," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 40(2), pages 589-614, July.
    12. Awoa Awoa, Paul & Ngouma Yana, Alexandre Ghislain & Okah Efogo, Françoise & Atangana Ondoa, Henri, 2024. "Africa's resource curse: The key role of property rights," Resources Policy, Elsevier, vol. 91(C).
    13. Castelliano, Caio & Grajzl, Peter & Watanabe, Eduardo, 2021. "How has the Covid19 pandemic impacted the courts of law? Evidence from Brazil," International Review of Law and Economics, Elsevier, vol. 66(C).
    14. Li, Wen & Peng, Qing, 2023. "Digital courts and corporate investment in sustainability: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 88(C).
    15. Jan Fałkowski & Jacek Lewkowicz, 2022. "In practice or just on paper? Some insights on using alphabetical rule to assign judges to cases," European Journal of Law and Economics, Springer, vol. 54(3), pages 405-430, December.
    16. Johan Eklund & Nadine Levratto & Giovanni B. Ramello, 2020. "Entrepreneurship and failure: two sides of the same coin?," Small Business Economics, Springer, vol. 54(2), pages 373-382, February.
    17. Caio Castelliano & Peter Grajzl & Tomas Aquino Guimaraes & Andre Alves, 2021. "Judicial enforcement and caseload: theory and evidence from Brazil," European Journal of Law and Economics, Springer, vol. 52(1), pages 137-168, August.
    18. Svetlana Avdasheva & Svetlana Golovanova & Elena Sidorova, 2022. "Does judicial effort matter for quality? Evidence from antitrust proceedings in Russian commercial courts," European Journal of Law and Economics, Springer, vol. 53(3), pages 425-450, June.
    19. Sila Mishra, 2023. "‘Cyclic syndrome’ of arrears and efficiency of Indian judiciary," SN Business & Economics, Springer, vol. 3(1), pages 1-27, January.
    20. Ayça Akarçay & Sezgin Polat, 2023. "Reluctance to report criminal incidents: limited access to justice, social exclusion, and gender," European Journal of Law and Economics, Springer, vol. 55(1), pages 145-166, February.
    21. Timothy Yu-Cheong Yeung & Michal Ovádek & Nicolas Lampach, 2022. "Time efficiency as a measure of court performance: evidence from the Court of Justice of the European Union," European Journal of Law and Economics, Springer, vol. 53(2), pages 209-234, April.

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