  We show how the spectral flow between the Neveu-Schwarz and Ramond sectors of
N=2 superconformal field theories can be described in three dimensions in terms
of the propagation of charged particles coupled to a a Chern-Simons gauge
theory. Quantum mechanical mixing between the degenerate Chern-Simons vacua
interpolates between the different boundary conditions of the two sectors and
so provides a dynamical picture for the GSO-projection.
