Looking through the lens of “development in transition”, this document, jointly prepared by ECLAC and the OECD Development Centre, notes that some developing and emerging economies have increased their levels of national income yet still face daunting multidimensional development challenges. This calls for a more comprehensive approach to international cooperation that, combined with effective domestic policies, can better support countries as they move up the income ladder and seek ways to turn income gains into lasting development gains. The analysis presented here sketches out some of the features of a new paradigm of international cooperation for development.