Judicial components of development with emphasis on arbitration method

Today, development and economy are the result of human behavior regarding the rules and legal institutions governing society, and the society measures its profits and losses in institutions such as courts, litigation, arbitration, etc. Development requires appropriate judicial components and a legal framework, the formulation of efficient laws and the use of the benefits of arbitration. The studies in this article examine the relationship between development and judicial components with the overlap of arbitration and indicate that arbitration is one of the undeniable components of the impact of institutions on development and economy, and due to its contractual nature and the rule of the principle of will, it plays a significant role in development. From the perspective of economic analysis, arbitration is an economic behavior in which the parties calculate profits, losses, and costs based on its effects and determine their behavior to achieve the highest benefit and resolve the dispute. This article, using an analytical and descriptive method, seeks to answer the question of how and why judicial components in overlap with arbitration pave the way for economic development. The innovation of the article is that it expresses the theoretical foundations, criteria, and impact of judicial components, with an emphasis on arbitration in support of economic development, in a more efficient, accurate, and practical manner.