The kinetics of cationic polymerization of glycidyl esters (glycidyl acetate, glycidyl benzoate, glycidyl naphthoate) were studied. The kinetic parameters of this process were determined. It was shown that the rate of polymerization is anomalously dependent on the polarity of the medium. The existence of an internal complexation and an equilibrium between two types of active centers, determining the rate of the process, has been suggested.