This thesis contributes to our understanding of the conditioning factors of economic and social well-being. Thereby the research project is split into three topics: (i) Regional development in advanced countries: A within-country application of the Human Development Index for Austria, (ii) Regional Convergence in Austria: A Long-Run Multidimensional Perspective and (iii) Working Environment and Well-Being: Empirical Evidence from the European Working Condition Survey. (i) The vast majority of empirical work examining human development and welfare takes a cross country perspective, while the processes within countries are often neglected. On the contrary, our Regional Development Index (RDI), a slightly adapted version of the widely used Human Development Index (HDI), focuses on differences in regional development within advanced countries. (ii) By applying beta- and sigma-convergence to this concept of long-run regional development in Austria (1971-2008), we find a strong convergence process of Austrian districts in the 1980s and 1990s, which slows down markedly since the 1990s. Our decomposition analysis indicates that most of the observed convergence is between provinces, while disparities across districts within provinces are responsible for the remaining inequalities. In topic (iii) we focus on the definition of the constructs well-being, demands, resources and flexibility out of an existing and available data set. Thus we also find interesting geographical pattern in the distribution of the constructs. While well-being is rather high in the northern part of West Europe and in North Europe, the resources are high in North Europe, while in South Europe they are low. Interestingly, also high demands are found in the northern part of West Europe. Flexibility is clearly high in North Europe and rather medium in the other countries. Resources and demands are significant for employees well-being.