We review various theoretical models which have been used to study the properties of the ground state and excited states of nuclei close to and beyond the neutron and proton drip lines. The validity and limitations of these models are discussed with applications to recent experimental findings such as di-neutron correlations in Borromian nuclei, the soft dipole excitations, direct two-neutron and two-proton decays, and odd-even staggerings of reaction cross sections. The role of isoscalar spin-triplet pairing interaction is also pointed out in the low-lying energy spectra as well as the spin- and isospin-dependent decay rates for N = Z and N = Z + 2 nuclei with mass A < 60. A characteristic feature of the Coulomb energy displacement of the Borromian nucleus 11Li is discussed in connection to the energies of isobaric analogue states (IAS) of T = 5/2 multiples in the A = 11 systems.
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