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We try to develop a coherent picture on Liouville theory as a two-dimensional conformal field theory that takes into account the perspectives of path-integral approach, bootstrap, canonical quantization and operator approach. To do this, we need to develop further some of these approaches. This includes in particular a construction of general exponential field operators from a set of covariant chiral operators. The latter are shown to satisfy braid relations that allow one to prove the locality of the former.
preprint / 2001