Most studies on the perception-production link have assumed a synchronous relationship according to which gains in perception transfer to production rapidly and efficiently. However, time-lagged and asymptotic relationships are also possible, where perception would guide production at a later stage or production would improve only once perception has reached a high level of accuracy. This study investigated the temporal dynamics of the perception-production link by modeling English speakers' ability to perceive and produce second language (L2) Spanish stops over time. Mixed-effects modeling of the "d'" perception and voice onset time (VOT) production data demonstrated significant development in both areas. Time-lagged change models indicated a change in "d'" significantly related to decreasing VOT in L2 /p/ at the following testing time, but no significant relationships emerged between perception and production of L2 /b/. Multiple patterns among individuals emerged. Results are interpreted in light of contemporary models of L2 speech learning.