In this selective review of recent research on internalizing disorders in childhood, we focus on four areas: the predictive validity of the diagnoses of depressive and anxiety disorders, rates of comorbidity, the chronology of onsets of the disorders of interest, and transmission of depressive and anxiety disorders in the pedigrees of affected individuals. To synthesize and reconcile findings in these four areas, we approach the information from a developmental perspective and assume that genetically driven biologic processes play a salient role in the expression of depressive and anxiety disorders in childhood. We also comment on the relevance of findings on children and adolescents to the field of depressive and anxiety disorders in adults and make recommendations for further research.