Non-Perturbative Formulation of Non-Critical String Models

We apply to non-critical bosonic Liouville string models, characterized by a central-charge deficit Q, a new non-perturbative renormalization-group technique based on a functional method for controlling the quantum fluctuations. We demonstrate the existence of a renormalization-group fixed point of Liouville string theory as Q to 0, in which limit the target space-time is Minkowski and the dynamics of the Liouville field is trivial, as it neither propagates nor interacts. This calculation supports in a non-trival manner the identification of the zero mode of the Liouville field with the target time variable, up to a crucial minus sign.