The role of electron-hole correlation in resonant Raman scattering by
two LO-phonons is analyzed. A theoretical model including excitons bel
onging to the discrete and continuous spectra as virtual intermediate
states in the Raman process and valid for incident energies below and
above the gap is developed. For the exciton-phonon coupling the Frohli
ch Hamiltonian is considered. The most important contribution to the R
aman scattering efficiency corresponds to the continuous-->discrete-->
discrete exciton transition, followed by the discrete-->discrete-->dis
crete and the continuous-->continuous-->discrete ones. The model is te
sted for GaP, where the scattering efficiency data are available aroun
d the E0 critical point, and both the absolute value and the profile o
f the scattering efficiency are reproduced without adjustable paramete
rs.