1. Update the table on page "Comparison of GNP" in slide "Lecturel Chpl 2.pdf". Please state clearly the data source that you used. 2. Run a growth accounting for the following countries for the period of 1980-2010: China, India, South Korea, and Thailand. You should follow the steps below. a. Get data on capital stock (Kt), labor supply (Lt), real GDP (Yt), where t = 1980 - 2010; You can use the data from World Bank Open Data. 1 b. Calculate the TFP for each country: TF Pt = Yt Kg LI-@, Where you can assume a constant a = 0.33 for all countries. c. Calculate the annual growth rate for the above variables. d. Compute the contribution of each factors to GDP growth. For example: the contribution of capital accumulation to GDP growth at a particular year is given by: - akt, where gyt is the growth rate of GDP and gxt denotes the growth rate of capital stock. e. Interpret the results that you obtained in step d. f. Compare your results with TED's. 2 https://data.worldbank.org/ or data from FRED https://fred.stlouisfed.org https://www.conference-board.org/retrievefile.cfm?filename=TED 2 MAY20171.xIsx&type=subsite 1. Country Exchange Rate PPP UK 42370 48040 USA 65760 65880 Zimbabwe 1390 2730 Bangladesh 1940 5190 China 78640 65600 India 2130 6960 Sri Lanka 4020 13230