The question is very broad, and all answers are going to be superficial by a matter of course, however I'd be happy to answer any additional questions.

The leading theory attributes the west's economic primacy to its institutional advantages. Western states were small and relatively well-balanced, fostering intense military, economic, and cultural competition. Most of these states had a legal system based on Roman-era freedoms and enfranchisement, with impersonal codified justice and protection of property rights, not just land rights. This was all capped off by the Mediterranean trade, which created extensive networks exchanging goods and services operated by a large middle class, which wasn't willing to be taxed without a say in the matter, creating inclusive institutions.

The first to put forth this idea was Paul David, in his 1994 article "Why are institutions the Carriers of History?" and the idea has been reaffirmed multiple times, notably by Douglas North in 2005 ("Understanding the Process of Economic Change") and Avner Greif in 2006 ( "Institutions and the path to the Modern Economy").

So, specifically with regards to your question, France, England, and Spain shared a "Mediterranean Heritage" with Italy; Eastern Europe did not.