The dynamical behavior of microemulsion and sponge phases is studied with a time-dependent Ginzburg-Landau model. The model has been shown previously to capture many of the essential static properties of these systems. Using a field-theoretic perturbation theory, we calculate the frequency-dependent (complex) viscosity \ensuremath{\eta}(\ensuremath{\omega}), sound velocity c(\ensuremath{\omega}) and damping D(\ensuremath{\omega}), and the scattering intensity S(k,t) in bulk and film contrast. The viscosity is almost frequency independent for small \ensuremath{\omega}, then drops sharply at a characteristic frequency ${\mathrm{\ensuremath{\omega}}}^{\mathrm{*}}$, corresponding to a characteristic relaxation time \ensuremath{\tau}\ensuremath{\sim}1/${\mathrm{\ensuremath{\omega}}}^{\mathrm{*}}$. The same relaxation time is also found to dominate the sound velocity and damping. The characteristic frequency has the scaling form ${\mathrm{\ensuremath{\omega}}}^{\mathrm{*}}$\ensuremath{\sim}${\ensuremath{\xi}}^{\mathrm{\ensuremath{-}}6}$\ensuremath{\Omega}(q\ensuremath{\xi}), where \ensuremath{\xi} is the correlation length and q is the inverse domain size of the microemulsion structure. The scattering intensity S(k,t) decays exponentially in time t for large t with an algebraic prefactor ${\mathit{t}}^{\mathrm{\ensuremath{-}}\mathrm{\ensuremath{\alpha}}}$, both in bulk and in film contrast. In the latter case, we find there are several regimes of the wave vector k with different exponents \ensuremath{\alpha}. \textcopyright{} 1996 The American Physical Society.