This report provides an overview of the changes in the development of academic exchange activity between the United States, the Soviet Union, and East Central Europe in the context of far-reaching reforms throughout the region. It also explores the factors which may facilitate or inhibit further growth in academic exchanges. The report begins with a discussion of the importance of a small number of national exchanges, particularly the Fulbright and International Research and Exchange Board (IREX) programs, which have been active since the 1960s. Next, several factors are mentioned which may tend to inhibit reciprocal activities in the short term, including difficulties in international travel and communication, the growing financial burden for East European institutions seeking to bear a portion of the cost of exchange activity, lack of proficiency in the host country language, and the fear of a "braindrain." The report then addresses the need for expanded information and financial resources to facilitate the development of productive academic links between the United States and partners in the region. Appendices include the Strategy of the Study, the Exchange Agreement Between the University of Lowell and Tbilisi State University, the U.S.S.R.-U.S. Exchange Agreements, and the East Central European-U.S. Exchange Agreements. (GLR)