Kinesio tape is pretty effective for what it is meant for. I actually just was at a lecture on it not to long ago. The major physiological effects they discussed were that is decreases pressure and inflammation, increases superficial lymphatic flow to reduce edema, relieves pain and enhances ROM, and improved alignment through balancing the agonist and antagonist muscles. I have not checked out many studies to determine how effective it actually is, but the lecture was performed by a physical therapy department of a decorated heath network.