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The macroeconomic and food security impacts of extreme precipitation shocks in Liberia

Author

Listed:
  • Pedro Juarros

    (International Monetary Fund)

  • Suphachol Suphachalasai

    (International Monetary Fund)

Abstract

Extreme precipitation and floods are Liberia's main climate hazards, endangering food security, health, and macroeconomic stability, and exacerbated by limited adaptive capacity. This paper estimates the short-term macroeconomic impacts of extreme precipitation shocks using newly available high-resolution, high-frequency climate data to capture short-duration, high-intensity rainfall events. The results show that such shocks reduce food production by 1.6 percentage points (p.p.), lower per capita GDP growth by 3.3 p.p., and raise inflation by about 2 p.p. These findings suggest that strengthening climate resilience may help mitigate the macroeconomic vulnerabilities associated with extreme rainfall events and highlight the potential importance of climate-resilient infrastructure, adaptive agricultural investment, and other adaptation measures.

Suggested Citation

  • Pedro Juarros & Suphachol Suphachalasai, 2026. "The macroeconomic and food security impacts of extreme precipitation shocks in Liberia," Economics Bulletin, AccessEcon, vol. 46(3), pages 1202-1213.
    • Handle: RePEc:ebl:ecbull:eb-25-00480
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    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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