Peer review is a formal process whereby articles "are submitted for scrutiny
and appraisal by recognized academics or authorities in the appropriate field,
who may recommend that the paper be accepted as it stands, or that specific
revisions be made, or that the paper be rejected for publication. This process
of refereeing is known as peer review".
Peer reviewed articles are authoritative because they have been assessed prior
to publication by specialists or experts within academic and/or industry fields.
Source:
'journal, academic' 2009, in S. Wallace (ed), A Dictionary of Education. (online Oxford Reference Online).