Originality/Value of the paper – This is the first work to estimate the impact on national wealth of oil-dependent states by failing to account for volatile commodity prices through the investment strategies of sovereign wealth funds.
Balding, C. and Yao, Y. (2011), "Portfolio Allocation for Sovereign Wealth Funds in the Shadow of Commodity-Based National Wealth", Boubakri, N. and Cosset, J.-C. (Ed.) Institutional Investors in Global Capital Markets (International Finance Review, Vol. 12), Emerald Group Publishing Limited, Bingley, pp. 293-312. https://doi.org/10.1108/S1569-3767(2011)0000012014
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