Constructing a SERIES

[ramzan]

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 have to repeat this process for 120 countries.
Sample of 3 countries is attached with the mail.
Please provide me with the solution,
Regards
MUHAMMAD RAMZAN