Hadron spin physics is now one of the most active fields of physics.
Especially in the last ten years, great progress has been made both
theoretically and experimentally that has considerably improved our knowledge
of the spin structure of nucleons. We review the nucleon's polarized structure
functions from the viewpoint of factorization theorems and the gauge invariant,
nonlocal light-cone operators in QCD. We discuss a systematic treatment of the
polarized structure functions and the corresponding parton distribution
functions, which are relevant to inclusive lepto- and hadro-production. We give
a detailed analysis of these spin-dependent distribution functions at the
twist-2 and twist-3 level, and present various properties and relations
satisfied by the parton distributions, which can be derived directly from QCD.
We emphasize unique features of higher twist distributions, and the role of the
QCD equations of motion to derive their sensitivity to the quark-gluon
correlation and their anomalous dimensions for Q^2-evolution.Comment: 58 pages, PTPTEX, 4 Postscript figures, psfig.sty and here.sty are
required; typos fixed and minor changes in the text. Final version to be
published in Prog. Theor. Phy