In　order　to　explore　the　efficiency　volatility　and　influence　factors　of　Chinese　modern　transportation　industry　based　on　the　data　from　1978　to　2012,　the　Cross-efficiency　DEA　and　VAR　model　are　adopted.　The　result　proves　that,　one-way　Granger　casualty　relationship　exists,　respectively,　between　the　input　variables　and　output　variables;　the　efficiency　volatility　of　modern　transportation　can　be　divided　into　three　stages:　efficiency　improvement,　high　efficiency　operation　and　efficiency　loss,　which　shows　the　trend　of　＂rising　first,　then　falling＂　in　general;　the　response　of　transportation　industry　to　the　shock　of　per　capita　consumption,　government　spending,　energy　consumption　and　fixed-asset　investment　are　positive,　while　to　the　shock　of　labor　factor　is　negative,　what＇s　more,　＂lag　effect＂　exists　in　the　response　of　transportation　industry　to　the　shock　of　information　element.　©,　2014,　Science　Press.　All　right　reserved.