This fast pace progress would be hard to achieve in a full democracy for a developing nation
Imo no country has full democracy.
Rapid development is feasible under the form of democracy we have. Problem is lack of political certainty and stability.
A country needs long term plans and vision with political continuity which executes those plans. This helps create a politically stable and predictable environment and attracts investments.
But change in government after one term or so which often comes with different party having different vision disrupts the momentum and policy executions.
This also makes governments more tune to political appeasements or resorting more to populist measures.
China's development happened due to many reasons and one of which is one party in power for a long time.
India has seen rapid development in past 12 years because of same political certainty.