To provide a cross-linkable aqueous dispersion excellent in water resistance and heat resistance and excellent in left viscosity stability, to provide its production method, to provide an adhesive, and to provide a coating agent.

The present invention relates to a cross-linkable aqueous dispersion which comprises (A) polymer fine particles comprising the units of at least one monomer selected from ethylenic unsaturated monomers and diethylenic unsaturated monomers as a main component, 0.1 to 10 wt.% of the units of one or more cross-linkable unsaturated monomers selected from carboxyl group-having unsaturated monomers, N-methylol(meth)acrylamide, N-butoxymethyl(meth)acrylamide, diacetone acrylamide, and acetoacetoxyethyl (meth)acrylate, and 0.01 to 2 wt.% of the units of multifunctional ethylenic unsaturated monomer, (B) a vinyl alcohol-based polymer containing ethylene units in an amount of 1 to 10 mol% and carboxyl group-having monomer units in an amount of 0.1 to 5 mol%, and (C) a cross-linking agent. A production method for the dispersion is also disclosed.