Xanthates and dithiocarbamates of metals have been reported to be effective as catalysts for the polymerization of olefin oxides. To investigate the mechanism of initiation, the bulk polymerization at 50°C of 1,2-butene oxide with zinc n-butyl xanthate (ZBX) at a monomer: ZBX molar ratio of 584: 1 was studied by ultraviolet and infrared spectroscopy. There is a rapid conversion of the sulfur–zinc bond in the metal xanthate to a structure containing sulfur–carbon and oxygen–zinc bonds, the latter acting as the site of the propagation step during polymerization. The xanthate ester moiety is subsequently converted to the oxygenated analogs, namely, O,O-dialkylthiocarbonate and dialkyl carbonate. These changes are independent of the propagation step. The changes observed in the polymerization of butene oxide with zinc dimethyldithiocarbamate are similar, but much slower than in the case of ZBX. The presence of the carbonate ester moiety was also shown in the benzene-insoluble, catalytically active fraction isolated from seeded catalyst, i.e., from the reaction product of propylene oxide and ZBX at a molar ratio of 8:1 or lower. This fraction also contained ionic sulfur.