Abstract
In this paper, we estimate the impact of receiving an NIH postdoctoral training grant on subsequent publications and citations. Our sample consists of all applications for NIH postdoctoral training grants (unsuccessful as well as successful) from 1980 to 2000. Both ordinary least squares and regression discontinuity estimates show that receipt of an NIH postdoctoral fellowship leads to about one additional publication over the next five years, which reflects a 20 percent increase in research productivity.