Busybox might have an "install" applet, but that is just a fancy "cp", i.e. a file copy tool.
You need something more elaborate than that - like it was said, a debian armel chroot would probably work. Or an ARM archlinux chroot. But matters get complicated there and I don't see much benefit to development via cross-compilation. More elaborate C++ compilation will also need some substantiate amount of RAM which the device simply doesn't have.
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