We formulate and apply a three-body Glauber model and an adiabatic theory, as alternative approaches to the DWBA method, to study breakup and charge exchange reactions of loosely bound nuclei. The theories derive full finite-range transition amplitudes, which incorporate three-body effects. The formulated Glauber three-body breakup transition amplitude is applied to the (d, pn) deuteron breakup reaction. Three-body s-wave breakup calculations are performed to analyse 260 MeV 63Cu(d, pn) and 270 MeV 12C(d, pn) reaction differential cross-section data. The calculations describe the data fairly well, for low p-n relative energies. The adiabatic theory, in a special limit, is applied to enable computational checks of the Glauber three-body breakup calculations, and for estimation of non-s-wave breakup contributions to the (d, pn) reaction. An adiabatic theory of Coulomb breakup is presented which derives a closed-form adiabatic transition amplitude for Coulomb breakup. Calculations describe deuteron breakup at forward angles at 56, 140 and 270 MeV reasonably well. Previous DWBA analyses are also discussed, and assumptions made in those DWBA calculations are discussed critically. The three-body Glauber model is extended to study the (d, pp) charge-exchange reaction. Three-body effects in the 12C(d, pp)12B reaction are investigated by comparing Glauber calculations with their DWBA limits. The results indicate that these three-body effects are significant and might be responsible for ad hoc modifications needed in DWBA analyses of the same reaction.