Field condensations and Noncritical String for c>1
  Quantum theory of 2d gravity for $c>1$ is examined as a non-critical string theory by taking account of the loop-correction of open strings whose end points are on the 2d world surface of the closed string. This loop-correction leads to a conformal anomaly, and we obtain a modified target-space action which implies a new phase of the non-critical closed-string. In this phase, the dual field of the gauge field, which lives on the boundary, condenses and the theory can be extended to $c>1$ without any instability. 
Kazuo Ghoroku