String Expansion as Large N Expansion of Gauge Theories

We consider string perturbative expansion in the presence of D-branes imbedded in orbifolded space-time. In the regime where the string coupling is weak and $\alpha'\to 0$, the string perturbative expansion coincides with `t Hooft's large N expansion. We specifically concentrate on theories with d=4 and ${\cal N}=0,1,2,4$, and use world-sheet orbifold techniques to prove vanishing theorems for the field theory beta functions to all orders in perturbation theory in the large N limit. This is in accord with recent predictions.