We investigate in detail the hypothesis that low surface brightness galaxies (LSB) differ from ordinary galaxies simply because they form in halos with large spin parameters. We compute star formation rates using the Schmidt law, assuming the same gas infall dependence on surface density as used in models of the Milky Way. We build stellar population models, predicting colours, spectra, and chemical abundances. We compare our predictions with observed values of metallicity and colours for LSB galaxies and find excellent agreement with all observables. In particular, integrated colours, colour gradients, surface brightness and metallicity match very well to the observed values of LSBs for models with ages larger than 7 Gyr and high values ($lambda > 0.05$) for the spin parameter of the halos. We also compute the global star formation rate (SFR) in the Universe due to LSBs and show that it has a flatter evolution with redshift than the corresponding SFR for normal discs. We furthermore compare the evolution in redshift of $[Zn/H]$ for our models to those observed in Damped Lyman $alpha$ systems by scite{Pettini+97} and show that Damped Lyman $alpha$ systems abundances are consistent with the predicted abundances at different radii for LSBs. Finally, we show how the required late redshift of collapse of the halo may constrain the power spectrum of fluctuations.
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