The Davidic covenant "also reestablishes the universal horizon of [Israel’s] calling: a king in David’s line becomes the object of future hope. God makes a covenant with David, promising that one day one of David’s descendants will rule over a universal and everlasting kingdom (2 Sam. 7:11-17). This is more than a promise of political success: it anticipates the goal of God’s redemptive work through Israel—the incorporation of the nations into God’s covenant people. Thus the psalmists celebrate the promise of God’s universal rule through Israel’s king (e.g., Pss. 2:7-9; 72:11-17)." Note, esp., the echo of the Abrahamic covenant in Ps. 72:17. See also the prophets: Isa. 11; 55:3-5; Jer. 33:14-22.
Goheen, A Light to the Nations (Baker, 2011), 55-56.