In the past few years voltage stabiity has become a subject of intense research involving the identification of the nature of this problem and the seek of suitable strategies for power systems operation and planning. In this work it is presented a report on the evolution in the analysis of this phenomena and it is described the details of its approach through the dynamic nonlinear systems bifurcation theory. The power transmission limit imposed by the voltage stability conditions is addressed and the geometry of the trajectories in state space considering the equilibrium points on the vicinity of this limit is deeply studied. The establishment of the equivalence conditions between the dynamic and static power system models made it possible to employ load-flow algebraic equations based methods on both the determination of the power transmission limit and the evaluation of local dynamic behaviour. A load-flow based computer program which uses the parameterized continuation method was developed. The continuation methods are widely known for providing the determination of whole set of a system s solutions which are related by a scalar parameter. In the closure, it is shown that the application of these methods, in a complementary basis with the modal analysis techniques, results in an efficient procedure to promote the choice and location of devices to improve the power system global tranmission capacity.