The non-trivial costs of a slow judiciary
Long-term, relationship-specific investments as well as higher-risk contracts are difficult with a weak judicial system
It would not be hyperbole to say that efficient courts are the backbone of the modern, hyper-specialized economy. A sound judiciary is key to enforcing laws and creating trust in the economy, allowing economic exchange between complete strangers by deterring fraud and increasing the incentives for fair play. Unsurprisingly, then, when the justice system breaks down, the consequences are bad.