From “Switzerland” to “Venezuela” of the Middle East: who is harmed the most by inflation in Lebanon?

Abstract

Purpose

The paper explores the inflationary consequences of the Lebanese economic and financial crises on Lebanese society. The study investigates the distribution of inflationary harm across various demographic characteristics, including age, marital status, educational level, employment type, region of residence, income range and type. It also identifies the different coping mechanisms adopted by the Lebanese people to survive during the inflationary period.

Design/methodology/approach

The study surveys 168 Lebanese citizens to determine which groups of people are most affected by inflation, its impact on their quality of life and the different coping mechanisms the citizens employ to endure the period of growing prices.

Findings

The results show that some groups of Lebanese citizens are more influenced than others by rising prices. The categories of people who suffer the most from inflation are the elderly, the widowed, those characterized by low educational and low-income levels, the unemployed, the retired and public sector employees, as well as homemakers.

Originality/value

This study provides policymakers with substantial information regarding the economic and social well-being of Lebanese citizens by highlighting the categories of people in need for special financial and social support. The findings can guide targeted policy interventions to support vulnerable populations. The study can also inform future research on the impact of the crisis and the effectiveness of policies.

Peer review

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2022-0736

Citation

Khalil, S. and Dagher, D. (2024), "From “Switzerland” to “Venezuela” of the Middle East: who is harmed the most by inflation in Lebanon?", International Journal of Social Economics, Vol. 51 No. 1, pp. 1-17. https://doi.org/10.1108/IJSE-11-2022-0736