The aim of this book is to complement and deepen the literature concerned with the issue of β-convergence by using specific data that covers Romanian realities. More specifically, we seek to identify and quantify the drivers of value creation looking at regional level characteristics that describe the eight development regions of Romania.The book fills a gap in the existing literature by empirical testing sources of territorial development variability. To have a comprehensive understanding of the factors that generate well-being at the regional level we assess the impact of three value-creation drivers: heterogenous regional-specific human capital, endowment with social capital, ownership levels of businesses that operate in the creative industries sector.