We show that the strength of the leading non-perturbative effects in
non-critical string theory is of the order e−O(1/βst). We show
how this restricts the space of consistent theories. We also identify
non-critical one dimensional D-instantons as dynamical objects which exchange
closed string states and calculate the order of their size.Comment: 11 pages, latex, no figures, revised version accepted for publication
in Physics Letters