We review some of the newest findings on the spin dynamics of carriers and
excitons in GaAs/GaAlAs quantum wells. For intrinsic wells, whose optical p
roperties are dominated by excitonic effects,, we show that exciton-exciton
interaction produces a breaking of the spin degeneracy in two-dimensional
semiconductors. For doped wells, the two spin components of an optically cr
eated two-dimensional electron gas are well described by Fermi-Dirac distri
butions with a common temperature but different chemical potentials. The ra
te of the spin depolarization of the electron gas is found to be independen
t of the mean electron kinetic energy but accelerated by thermal spreading
of the carriers.