One of 10 studies commissioned to investigate research needs and to stimulate planning activities, this paper looks at the need to examine international exchange policy and practice, the state of the art of research on educational exchanges, and the areas most amenable to serious research attention. Poor record-keeping and uneven analysis have hampered evaluation and research efforts in the field of educational exchange. In addition, the absence of testable hypotheses and generalizable sample data pools have inhibited the emergence of a methodologically sound body of research. The priority areas for research on exchanges which are suggested apply to all sectoral levels of the educational process. The constituency for such research output includes the administrators of exchange programs, college and university faculty, students, and actual or potential donors in the private and public sector. It is suggested that the National Institute of Education, by assuming a leadership role, can, without huge outlays of monies, advance the state of the art on exchanges. Ways to do this are indicated. (Author/AMH)