Eventually yes, it is not a one-night process but a long one.  Many developed country today have their struggles in the past years, but you see, they eventually came out from being underdeveloped countries.

The process of transitioning from an underdeveloped country to a developed one needs the cooperation of the government and its citizens.  Without harmonious cooperation between these two, being a developed country will not be feasible, and more likely worsen the economic situation of the country.