How can syntax errors in PHP code be effectively identified and corrected?

Syntax errors in PHP code can be effectively identified and corrected by carefully reviewing the code for any typos, missing semicolons, parentheses, or curly braces. Utilizing a code editor with syntax highlighting can help pinpoint errors more easily. Additionally, running the code through a PHP syntax checker or using error reporting functions can assist in identifying and fixing syntax errors.

```php
<?php
// Example PHP code snippet with a syntax error
$variable = 5
echo "The value of the variable is: " . $variable;
?>
```

In this example, the syntax error is a missing semicolon after `$variable = 5`. Adding a semicolon at the end of the line will correct the syntax error.