The performance of recently developed highly efficient photorefractive polymers based on the photoconducting polymer host poly-(N-vinylcarbazole) is investigated, and the use of these materials as re-cording media in dynamic holography and other applications is evaluated. A diffraction efficiency m= 86%(limited only by absorption and reflection losses), a two-beam coupling net gain coefficient T= 200 cm", and light-induced refractive index modulations as high as An= 7x 109 are demonstrated. Hologram growth rates of the order of 500 ms are observed with recording light intensities> 10 mW/cmº, using either lowpower laser diodes (675 nm) or a HeNe laser (633 nm). The materials show good sensitivity in this part of the spectrum. Applications such as dynamic time-average interferometry are demonstrated.