>industrialised over a period of many decades even up to the modern day, for example Mexico.

Pretty sure Mexico's GDP per capita was higher for quite a while, and their stagnation lied precisely in improper government interference that closed off the economy with protectionist policg rather than embracing free trade. Nor did these have inclusive institutions or really stable political situations.

The thing about the USSR, just like with China and India and USA is that once the economic growth sets in, their large populations compared to existing European states would obviously lead to much larger economies of scale and thus GDP growth. But of course, even given that large absolute growth, living standards never did converge with Western Europe. That speaks more to how central planning stagnated things.