Abstract. This article deals with the value of research and development (R&D) indicators before, during and after the economic crisis of [2008][2009]. Higher R&D intensity and higher R&D manpower are found to be predictors of improved firm performance. On the example of four countries with various level of R&D, we try to show if crisis influences this area of economy in the selected countries, namely, Germany, Finland, Slovakia and the Czech Republic. We analysed the period of 2006-2014, as the indicators of the year 2015 are still not available, paying particular attention to Slovakia. For the analysis, such indicators were chosen: expenditures on research and development per inhabitant and as a per cent of GDP; number of university graduates; number of companies in high-technology sector and total high-tech trade (export and import) as a per cent of total trade. According to analysed indicators, the leading countries in research and development were Finland and Germany. Slovakia reached the worst results in expenditures to R&D. Another conclusion of our research was that the crisis does not cause significant changes in research and development area. Despite the fact that in the years 2008 and 2009 there were lower values of some R&D indicators compared to the other years, the crisis did not make a serious impact on analysed sphere. We agree with the conclusion of M. Mazzucato (2015) that there should be more debate about actual composition of investment; how to invest strategically in key areas, such as research and development, education and human capital formation that will increase gross domestic product (GDP) in the future (bringing the debt/GDP ratio down as a consequence); and how to engage in a debate about the direction of change so that such investments will result in growth which is not only smarter (innovation-led) but also inclusive and sustainable [15].The interest in the relation between technology and competitiveness dates back to the so-called neo-technological trade theories of the 1960s concerning technology gap, product cycle etc. (Dosi, Soete, 1988) [3]. Since these issues were first introduced by Posner (1961), Vernon (1966) (In: Fagerberg, 1996 [5] and others, economic theory has changed considerably. Trade theorists started to apply the insights from models of imperfectly competitive markets to the analysis of international trade and world-wide competitiveness. Differences across countries in the efficiency of R&D and other technological activities have also been emphasised by the recent literature on national systems of innovation (Fagerberg, 1996) [5], competition and competitiveness growth through the creation of innovative products and technologies [11], human capital quality, and the stability of the economic environment and the quality of businesses management. For example, Morozumi and Veiga (2016) [16] state that empirical results based on a newly assembled dataset of 80 countries over the 1970-2010 period of time suggest that particularly when institutions prompt governments to...