Abstract: Based on a comparative study of China and the U.S. R&D expenditures in 1980s and 1990s, this paper has started a re-comparative study of China and the U.S. R&D expenditures since 1990s.The study finds that, although the scale of China's R&D expenditure (investment amount and intensity ) has been significantly changed, while there are still great differences in R&D investment structures and sources: America still attaches great importance to basic research, but in our country it doesn't; In the United States, the Research and Development expenditure is mainly supported by the federal government, while in China, local governments R&D expenditure not only keep highly consistent with central government, but also rise significantly. the United States R&D investment based on the theory of market failure, while China is more based on the “ZhongShi”theory(paying more attention). In the contexts of public finance expenditure performance increasingly attracts much public attention, this paper suggests that China should work out the theoretic innovation on the role of market and government to optimize R&D expenditure theory; further stabilize the scales of R&D expenditure, with the further improvement of Science and Technology statistic , adjust to optimizing the structure of R&D expenditure, and strengthen basic research expenditure, local government should explore the suitable scales and scientific modes of R&D expenditure, and gradually reduce the direct subsidies.

摘要： 基于20世纪80、90年代中美两国研发经费的比较，本文对90年代至今中美两国研发经费投入进行再比较。研究发现，尽管我国研发经费投入规模已有较大变化， 但在投入结构与投入主体方面却并未改变：美国依然 强化对基础研究的投入，但我国似乎并非如此；美国主要是联邦政府在支持研发，而中国地方政府的研发投入不仅与中央政府相当，而且上升趋势明显；美国研发投入基于市场失灵理论，而我国更多基于“重视”理论。在公共财政投入绩效日益倍受各界关注的情况下，建议应积极落实三中全会关于市场和政府作用的理论创新，进一步优化我国研发投入理论；在稳定研发经费投入规模、完善科研统计的条件下，尽快优化调整研发投入结构、强化基础研究投入，特别是进一步探索地方政府研发投入的适宜规模，逐步减少地方政府的直接性投入。