This study presents a Systematic Literature Review (SLR) examining the intersection of Open and Distance Learning (ODL), the Sharing Economy (SE) and economic development. ODL has emerged as a transformative educational model by enhancing accessibility, flexibility along with lifelong learning opportunities, while the sharing economy emphasizes collaborative, technology-enabled resource utilization. Using the PRISMA framework, this review systematically analyses 62 peer-reviewed studies published between 2009 and 2024, sourced from databases including Google Scholar, ERIC and the Directory of Open Access Journals (DOAJ). Thematic analysis was conducted following Braun and Clarke’s six-phase approach to identify dominant patterns in the literature. The review reveals four major themes: (i) the contribution of ODL to economic development through human capital formation and improvements in indicators such as HDI and GDP; (ii) the convergence of ODL with sharing economy principles, including openness, digital infrastructure, and peer-to-peer knowledge sharing; (iii) stakeholders’ perspectives on ODL, highlighting the roles of students, teachers, and learner support centers in shaping adoption and effectiveness; and (iv) emerging methodological trends reflected in systematic reviews and bibliometric studies. The findings indicate that ODL aligns closely with sharing economy mechanisms to democratize education and support inclusive economic development. However, empirical evidence addressing regional and context-specific dynamics, particularly within India, remains limited. This study identifies critical research gaps and provides a foundation for future empirical investigations and policy-oriented research aimed at strengthening ODL systems through sharing economy principles in developing economies.