Basically, the amount of BHP an engine can make is directly proportional to the mass flow of air that the engine can handle. You can always add more fuel, but getting the air in and out is the challenge.
If you think of the engine as an air pump, displacement (bore & stroke) times volumetric efficiency (valve size and lift, porting, etc. ) times RPM gives you an idea of a naturally aspirated engine's BHP potential. I can take a smaller displacement engine, however, add a blower or turbo and move the same or more pounds of air per minute through the engine as a larger displacement naturally aspirated engine, thereby giving it the potential to make the same or more BHP as the larger engine.
Therefore, a boost increase (if it results in greater mass flow - a function of where the turbo is operating on its performance curve) will provide greater BHP potential (as more fuel can be burned) just like a displacement increase.
Rusty