We report measurements of the photovoltaic effect in diode structures formed with thin films (100 nm) of the conjugated polymer poly(p-phenylene vinylene), PPV, sandwiched between electrodes of indium/tin oxide, ITO, and either aluminium, magnesium or calcium. Under illumination incident through the ITO contact, large open-circuit voltages were measured, which saturated at approximately 1.2 V for Al and Mg devices, and approximately 1.7 V for Ca devices. Quantum efficiencies (short-circuit current/incident photon flux) of order 1% were measured at low intensities (0.1 mW cm^-2). The spectral response of the photocurrent demonstrates that photon absorption near the electron-collecting electrode optimizes the photocurrent, indicating that device performance is limited by low electron mobilities in the bulk PPV. The photocurrent exhibits a weak temperature dependence, with an activation energy that is a function of the electric field in the polymer. We have used these measurements to estimate an exciton binding energy in PPV of approximately 0.4 eV.