A novel method of studying e+e- annihilation into hadrons using initial state
radiation at e+e- colliders is described. After brief history of the method,
its theoretical foundations are considered. Numerous experiments in which
exclusive cross sections of e+e- annihilation into hadrons below the
center-of-mass energy of 5 GeV have been measured are presented. Some
applications of the results obtained to fundamental tests of the Standard Model
are listed.Comment: 50 pages, 88 figures, accepted for publication in Rev. Mod. Phy