Query: Capital market failures in developing countries

[Walt Byars <wbyars@xxxxxxxxxxxx>]

Reading some mainstream sources ("Development Economics" by Grabowski &
Shields, an article by Stiglitz called something like "what I learned at
the asian miracle"), deficiencies in capital markets in developing
countries can justify all manner of interventions in terms of allocating
capital to industries with large capital requirements. None of these
elaborated on what the deficiencies were,or why it can be assumed that the
state won't have the same deficiencies etc...

Does anyone know of any informative articles/ books on this issue?
(presumably, Stiglitz isn't talking about his usual stuff on markets
because I think this is supposed to be something exclusive to developing
nations)