The terms, "scholarly", "academic", and "peer-reviewed" are all used to describe journal articles reporting on current research in a specific discipline or field of study.
Articles published in peer-reviewed journals are reviewed by experts in the same field of study (historians, medical doctors, psychiatrists, etc.), thus the term "peer-reviewed." The process of getting an article published in a peer-reviewed journal is rigorous and competitive, usually requiring several rounds of editing and re-submission, therefore, an article published in these journals can be considered reliable/authoritative.
Periodicals are publications that are issued on a regular, or periodic, interval. Periodicals can be excellent sources of concise, focused articles on current events and social issues. Articles in periodicals typically address a very specific aspect of a larger topic.
Different types of periodicals are suitable for different types of information, and are published at different intervals.
This chart will help distinguish different types of periodicals:
source: http://libguides.cayuga-cc.edu/How_To_Scholarly_Journal