The role of contract enforcement law in economic development from the perspective of new institutionalists

This article aims to investigate how the implementation of contract obligations affects economic development from the perspective of institutionalists. From this point of view, after expanding the conceptual space of the subject, we will examine the different dimensions and aspects of the impact of the implementation of contract obligations on economic development. This research is of theoretical type and the research method is descriptive-analytical and the method of data collection is library and has been done by referring to documents, books and articles.Ethical Considerations: In order to organize this research, while observing the authenticity of the texts, honesty and fidelity have been observed. From an economic point of view, the rules of law in general and the rules of contract law in particular should be efficient and as a result lead to the maximization of wealth in the society and accordingly provide conditions for economic development. Among other things, this matter has been taken into consideration by the neo-institutionalist school in economics. First, according to institutionalists, legal and economic systems are organically related to each other; In such a way that both of them are actually part of the social system, which is called the "double balance" theory. Secondly; Unlike the market approach, institutionalists believe in the effectiveness of contract rights in economic development and emphasize the interaction between the effectiveness of contract rights and economic development as the center of gravity of legal and economic institutions.