Material and nonmaterial impacts of the COVID‐19 pandemic: Evidence from a low‐income country

How have COVID‐19‐related restrictions affected consumption levels and life satisfaction in low‐income countries? We conducted phone surveys with 577 households in Liberia to compare consumption patterns across three points in time: November 2019 (pre‐COVID‐19), May 2020 (short term), and September 2020 (medium term). This article analyzes the impacts of the Covid‐19 pandemic and the related restrictions on food and nonfood consumption, which we categorize as “material” welfare and life satisfaction, which we categorize as “nonmaterial” welfare. We find differences between food and nonfood consumption patterns under pandemic conditions. In particular, consumption by households dependent on food and labor markets was negatively affected by the pandemic. In terms of life satisfaction, we find that most respondents perceived their lives to have worsened due to the pandemic.