Assessing The Relationship Between Regional Policy Indicators in Visegrad Four Countries

Regional policies are paramount for the development of any country.These policies are formulated over the years in lieu of demands from the region and time concurrently.Initially, policies are focused on bridging disparities but recently targeting entrepreneurship and quality of life development.However, these policies are faced with various problems.The study aims at identifying the interrelationship between selected regional policy indicators in EU Visegrad four group of countries.Secondary data from the OECD on regional disparity, entrepreneurship, innovation, and quality of life indicators pertinent to the selected regions were used for the analysis.Data used for the analysis were from the years 2008, 2012, and 2016 with a four-year lag period.Correlation analysis was undertaken using the DisplayR software in this research.The research found that there is a continuous mixed relationship between Regional Disparity, Entrepreneurship, Innovation, and Quality of Life indicators with the Innovation variables showing highest positive correlations in the countries.Furthermore, the higher the disparities, the lower and the quality of life and vice versa, hence the regional disparity indicator poses a significant effect on the quality of life.