Research into the role of stress in psychiatric disorders faces major challenges. However, over the last few decades there has been considerable progress in this area as a result of methodological, technological and conceptual developments. The advent of recursive and non-linear models and research into the neurobiology of stress have made important contributions to this progress. Not only have these developments increased our insight into the aetiopathogenesis and classification of psychiatric disorders, they also have important implications for clinical assessment and treatment. In particular, renewed interest in the role of meaning-making has opened up a number of new avenues for clinical practice and research.