The connection between population growth and economic development has been a much debated topic ever since the world population passed the two billion mark. A vigorous debate on the relationship between those two factors has been going on in all countries, irrespective of whether they have less developed economies, developed economies or transition economies. Many theories abound, and the first theory states that population growth stimulates economic growth. The second theory views population growth as a phenomenon that adversely affects economic growth. That means the relationship between population growth and economic development can be measured by looking at the impact of population growth on economic development and vice-versa. Hence, the main objective of this paper is to determine the relationship between population growth and economic development by conducting an exhaustive review of the literature. The study reveals that although a steadily growing population might seem to be an obstacle to a country's economic development, most of the countries have accepted the increase in population as a blessing.