Effectiveness of Economic Justice as a Multidimensional Legal Category

Abstract

The article examines the effectiveness of commercial litigation as a multidimensional legal category to identify systemic determinants of the quality of justice, develops models for evaluating the effectiveness of commercial courts, drawing on European experience, and proposes improvements to the legal regulation of court procedures and judicial practice. It is emphasised that the effectiveness of commercial litigation is not merely a qualitative characteristic of the process. Still, an integral legal category encompassing a complex of interrelated criteria, such as legal, procedural, organisational, managerial, economic, social, etc. It is noted that the concept of the effectiveness of economic proceedings has a multidimensional meaning, which includes: the directly legal dimension — compliance with the principles of the rule of law, competition and proportionality; procedural — balance between formal guarantees and process speed; organizational and administrative — rational workload of courts, optimization of court procedures, use of electronic justice; economic — the ratio of costs and beneficial effect of court protection and socio-legal — the level of trust in the court, perception of justice and predictability of court decisions by business and society. Attention is drawn to the existence of a close connection between the efficiency of economic justice and the level of economic trust in the market, which is carried out through: ensuring the fulfilment of economic obligations and legal predictability; duration of proceedings and access to justice; organizational and technological capacity of courts, as well as due to managerial and budgetary factors that change the economic incentives of subjects of economic activity. It is concluded that the effectiveness of commercial justice in Ukraine and/or commercial justice in EU member states in terms of efficiency (time, cost, enforceability), quality (motivation, predictability), independence, digitalization, and organizational capacity systematically affects the economic behaviour of business entities, resulting in a reduction of transaction costs and risks of default; increasing the availability and speed of restoration of rights; increasing readiness to provide trade credit, invest, enter global value-added chains; an increase in the probability of voluntary implementation of decisions and, as a result, a reduction in the burden of enforcement.