In this paper. we present a microscopic theory for the physical mechan
isms giving rise to lasing in II-VI semiconductor media. Both photons
and carriers are consistently treated within the same fully quantum me
chanical footing by means of nonequilibrium Keldysh Green's function t
echniques. The highly excited medium is described in terms of a strong
ly Coulomb correlated electron-hole plasma. Numerical results are pres
ented for tile emission, absorption and gain characteristics of ZnCdSe
-ZnSSe MQWs in good agreement with recent experimental results.