The review covers theoretical and experimental studies of the parametric effect of high-power
electromagnetic radiation on a plasma. Under the action of such a field, parametric instabilities
develop in a plasma, leading to appearance of a turbulent state with an increased level of fluctuations
of the internal field in the plasma. Under the action of these fluctuations the particle distribution
in the plasma changes and, in particular, their energy increases, which corresponds to
anomalously fast transfer of the energy of the radiation field to the plasma particles or, in other
words, corresponds to an anomalous increase of the high-frequency conductivity of a parametric ally
unstable plasma. This theoretically predicted pattern find confirmation in a number of experimental
investigations, also discussed in the review. Experiments demonstrate the appearance, under the
action of high-power radiation, of an increased level of plasma fluctuations, a large high-frequency
resistance, an increase in the rate of plasma heating, and, finally, of fast particles. All of these effects
are consistent with the theoretical ideas and permit us to discuss qualitatively a new group of
physical phenomena arising in the action of high-power radiation on a plasma.