Bangladesh has been stranded in "developing country" status for the last 50 years or so. Its HDI is also very low.
Is corruption the root cause this country is stranded in a "developing country" status?
Or, is it a meta-cause?
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Something like this is the sum of positive factors, the sum of negative factors, and various feedback loops.
Keep in mind that the "developed" nations don't stand still. The goal is moving and catching up is difficult.