Measuring the Economic Credibility of States - Challenges Illustrated by the Rule of Law Dimension

This paper presents research on measuring economic credibility of states through a multidimensional approach, with particular focus on the rule of law dimension. The paper highlights significant challenges in measuring rule of law components, particularly regarding the quality of legislation, judicial efficiency, and constitutional issues. While certain aspects like legislative duration and court proceeding times can be quantified, their interpretation remains complex and context-dependent.
The research demonstrates that economic credibility assessment can serve as an early warning system for identifying threats to democratic governance continuity, making it a valuable tool for institutional analysis and policy evaluation.