Abstract:This paper analyzes the research hotspots and developing trends of international authoritative papers in the field of innovation based on the perspective of R D spending since the 21st century. In the paper, 3374 papers published in SSCI are taken as samples, and bibliometric methods are used. The research findings show that the research enthusiasm of R D spending is increasing on the whole, research in England, Belgium, and France has a much greater influence in academia,and Mansfield E, Jones CI and Nelson RR play a pivotal role in this field. According to the clustering analysis of high frequency Keywords, the research hotspots of R D spending field are as follows: research on measurement index of R D investment、research on internal and external factors of R D innovation, around the study of total factor productivity, the research perspective is mainly from the enterprise level, industry level and national level. Finally, through the burst term analysis, found that "innovation policy", "innovation performance", "corporate governance" will be the future research hotspots, and the focus on China and small businesses will be on the rise.