The spectroscopic properties of 9 oil soluble hydroxy and methoxy thioxanthone derivatives have been examined in various solvents and the data compared to their photopolymerization efficiency and flash photolysis behaviour in solution. Absorption maxima, extinction coefficients, fluorescence and phosphorescence spectra and quantum yields have been measured. Generally, most of the compounds exhibit low fluorescence and high phosphorescence quantum yields except 1-substituted derivatives where intra-molecular hydrogen bonding is involved. These observations are consistent with the high photoreactivity of the molecules occurring via the lowest excited triplet state. Photopolymerization t~tes of n-butyl methacrylate, using N-diethylmethylamine as co-initiator, correlate to some extent with the absorption maxima and extinction coefficients of the thioxanthones. Transient formation on micro-second flash photolysis is associated with the ketyl radical formed by the lowest excited triplet state of the thioxanthones abstracting a hydrogen atom from the solvent. In the presence of a tertiary amine, a new longer wavelength transient absorption is produced and is assigned to a radical-anion formed by the lowest excited triplet state of the thioxanthones abstracting an electron from the amine. A correlation was observed between the transient absorption due to the radical-anion and the ionisation potential of various amines. Flash photolysis studies in acid and base media confirmed the identity of the radical and radical-ion species. Intra-molecular hydrogen bonding in the a-position to the carbonyl group deactivates both the lowest excited singlet and triplet states of thioxanthone but has little effect on polymerization efficiency. The latter is associated with competition of the carbonyl group with the amine co-initiator for hydrogen bonding and consequent electron abstraction to give an active radical-anion. This is confirmed using micro-second flash photolysis.