Over 250 senior economists: Judicial reforms will damage Israel's economy

• Published date: 25 January 2023

"We, lecturers in economics and management, express our deep concern regarding the government's actions intended to weaken the judicial system and public service's independence, which we think will cause unprecedented harm to Israel's economy," the economists wrote

The signees included experts from all sides of the political spectrum, including Nobel Prize laureate Daniel Kahneman.

Economists: Israel's credit rating will be weakened by reform

Israel's economy is small yet open, and its attractivity to foreign investors is due in a large part to its strong judiciary and public gatekeepers, which ensure that the investors will be shielded from capricious government decisions, the economists argued. Weakening the judicial system will "significantly raise" the possibility of a decrease in Israel's credit rating – as happened in Poland in 2016 when the credit rating service P&S explained its decision to lower the country's credit rating on the weakening of its judiciary, the economists added.

The decrease in investments will...