Ovchinnikov, Yu.N., Sigal, I.M. The Ginzburg-Landau Equation III. Vortex Dynamics (183K, PS-version) ABSTRACT. In this paper we study the time-dependent Ginzburg-Landau equation of the Schr\"odinger type in two dimensions, with initial conditions describing several well separated vortices. Our task is to develop the non-linear adiabatic theory for this and similar equations. Using the methods of effective action and of local solvability we derive equations for the vortex dynamics and radiation. As examples we consider the two special cases of radiation by the vacuum and by two 1-vortices.