Previous literature has highlighted the importance of de facto-enforcing mechanisms. In this talk I will be focusing on the role of judicial institutions, their performance and measurement. I will discuss the theoretical foundation and supply empirical evidence supporting the necessity of a clear distinction between two measures of judicial performance, efficiency and efficacy, that have often been confused by previous literature. Not only economic actors might not be affected to the same extent by these two indicators, but I will show that these measures do not even correlate significantly among each other. I will also discuss the alleged trade-off between the quality of justice and judicial performance in its quantitative dimension, showing that this relationship is much more complicated than claimed by a part of legal scholarship.