Renormalization Group Approach to Discretized Gravity

We summarize our renormalization group approach for the vector model as well as the matrix model which are the discretized quantum gravity in one- and two-dimensional spacetime. A difference equation is obtained which relates free energies for neighboring values of $N$. The reparametrization freedom in field space is formulated by means of the loop equation. The reparametrization identities reduce the flow in the infinite dimensional coupling constant space to that in finite dimensions. The matrix model gives a nonlinear differential equation as an effective renormalization group equation. The fixed point and the susceptibility exponents can be determined even for the matrix models in spite of the nonlinearity. They agree with the exact result.