The Regional Australia Institute (RAI) has undertaken a Stocktake of Regional Research project. One component of the project requires a literature review to be prepared for each of RAI's four themes, namely:

• Theme 1 - Position and Potential: potential for new growth and prosperity in each region;
• Theme 2 - Realising Opportunities: understand how opportunities for growth and development can translate into tangible benefits for regions;
• Theme 3 - Successful Transitions: develop better strategies for communities in transition to enable them to cope with change; and
• Theme 4 - Better Services and Engagement: better ways of engaging regional communities and delivering services.

This literature review addresses Theme 1 - Position and Potential. Theme 1 leads into Theme 2 and so a number of issues that relate to bridging the gap between identified potential and realised opportunities are captured in the literature review of Theme 2.