PURPOSE: To obtain the titled polymer capable of giving a cured article useful as a cast article, etc., having improved fluidity, operating efficiency and reactivity, by polymerizing chloroprene with an acrylate having a hydroxyl group in the presence of a specific mercaptoalcohol under specified conditions.

CONSTITUTION: (A) Chloroprene monomer is copolymerized with (B) a polymerizable monomer having a hydroxyl group of the formula (n is 1 or 2; R is 2W3C hydrocarbon), e.g. 2-hydroxyethyl methacrylate, in the presence of (C) a 2W3C aliphatic mercaptoalcohol, e.g. 2-mercaptoethanol, in a solution system by the radical polymerization method. The components (A), (B) and (C) are charged in the range satisfying the formulas y≤76.6, y≥4x, y≥167-100x and y≤167-18.4x [x is the amount of the component (C) (pts.wt.) per the monomer consisting of the components (A) and (B); y is pts.wt. the component (B) in 100pts.wt. the total monomer charged simultaneously, and the aimed polymer having a number-average molecular weight of 1,000W6,000 and two or more hydroxyl groups in the molecule is obtained.