Constructing a series

SALAM

HI, Every one

I am working on the panel data. i have to construct a CAPITAL STOCK series from the GROSS CAPITAL FORMATION.

First of all i have to calculate the growth rate of GROSS CAPITAL FORMATION series. and than first value of capital stock series is constructed series by =FIRST VALUE of GROSS CAPITAL FORMATION/(delta+growth rate of a particular country).

and after that (from second value) =(1-delta)* PREVIOUS VALUE OF CAPITAL STOCK + CURRENT VALUE OF GROSS CAPITAL FORMATION. i-esay for 1981 for Albania =(1-delta)*value of capital stock in 1980 + value of Gross capital formation in1980 and so on for all the years.

I have to repeat this process for 120 countries.
Sample of 3 countries is attached with the mail.

Regards
MUHAMMAD RAMZAN

Post an example before and after workbook.

See the attached file for sample data