In Sharepoint list can we configure as follows.

1) A lookup Column to select a country.
2) A lookup Column to select a state . This coulmns dorpdown should display only the states belongs to the selected country.

I already have two lists (one stores name of all countries and other the name of states and the corresponding country) These lists are used to configure the above two lookup fields.

Currently the dropdown for country coulnm displays all the 196 Country names and the state dropdown lists all the 3800+ state names.