low R square

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neha kanojia
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low R square

Postby neha kanojia » Tue Mar 20, 2018 1:29 am

hi
I have a question related to R square/ adjusted R square in panel data . my R square is low but still my 5 independent variable are significant out of 8 independent variables.i have not used any dummy variable please suggest, whether i am getting correct regression results or spurious regression ? what should be my next step to correct it, if results are not correct ?
my Regression output


Dependent Variable: FLOWS
Method: Panel EGLS (Cross-section random effects)
Sample: 2004 2016
Periods included: 13
Cross-sections included: 54
Total panel (balanced) observations: 702
Swamy and Arora estimator of component variances
White diagonal standard errors & covariance (no d.f. correction)


Variable Coefficient Std. Error t-Statistic Prob.


C -16257.14 9019.990 -1.802345 0.0719
GDP -8.27E-08 3.44E-08 -2.400365 0.0166
PCAP 0.692644 0.272781 2.539192 0.0113
FDIOP 0.876950 0.344471 2.545784 0.0111
FCT 181.3290 124.8195 1.452729 0.1468
DIV -61.90737 148.3904 -0.417192 0.6767
INT -155.8128 143.9951 -1.082070 0.2796
RYT 186.2976 190.0170 0.980426 0.3272
NT 202.8901 96.04398 2.112471 0.0350


Effects Specification
S.D. Rho


Cross-section random 31435.96 0.6755
Idiosyncratic random 21787.59 0.3245


Weighted Statistics


R-squared 0.038931 Mean dependent var 3573.117
Adjusted R-squared 0.027836 S.D. dependent var 22216.63
S.E. of regression 21905.24 Sum squared resid 3.33E+11
F-statistic 3.508975 Durbin-Watson stat 1.666206
Prob(F-statistic) 0.000548


Unweighted Statistics


R-squared 0.100791 Mean dependent var 18928.47
Sum squared resid 1.02E+12 Durbin-Watson stat 0.613933

my

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