Literature Review

This chapter critically reviews existing scholarship on the relationship between power, development, and economic growth. It highlights three dominant strands of inquiry: the role of institutional power in shaping growth trajectories, the persistence of global power asymmetries rooted in dependency theory, and the impact of power concentration on economic inclusivity. Recent studies emphasise that strong, transparent, and rule-bound institutions can foster stability, attract investment, and drive innovation, particularly in emerging economies. At the same time, contemporary updates of dependency theory underscore how global trade, financialisation, and supply chain structures reinforce unequal power relations that constrain autonomy in developing nations. Finally, literature on inclusivity demonstrates that concentrated power—often exacerbated by neoliberal reforms—limits opportunities for marginalised groups, whereas decentralised power structures and inclusive policies can generate broader, more sustainable growth. Despite these contributions, significant gaps remain. The review identifies the need for region-specific analyses of institutional power, deeper empirical exploration of modern dependency mechanisms, and frameworks that address inclusivity for marginalised groups such as women, youth, and rural populations. Additionally, limited integration of power theories with the Sustainable Development Goals and a lack of cross-disciplinary, mixed-method approaches hinder a comprehensive understanding of power’s role in development. By mapping these gaps, the chapter establishes the foundation for this book’s contribution: advancing a multidimensional framework that bridges theory with practice, integrates Sustainable Development Goals alignment, and foregrounds inclusivity in policy and institutional reform. In doing so, it positions the study to make both academic and policy-relevant interventions in debates on power and development.