We review some results of the recent progress in understanding two-dim
ensional quantum gravity and low-dimensional string theories based on
the lattice approach. The possibility to solve the lattice models exac
tly comes from their equivalence to large N matrix models. We describe
various matrix models and their continuum limits, and discuss in some
detail the phase structure of Hermitian one-matrix models. For the on
e-dimensional matrix model we discuss its field theoretic formulation
through a collective field method and summarize some perturbative resu
lts. We compare the results obtained from matrix models to the results
in the continuum approach to string theory.