Question about R-squared

[vahid1985]

my estimated R-squared for an OLS model is 0.59 is it enough for accepting the estimated model?

[startz]

There is no general answer to this question. One thing to look at is how your R-squared compares to work by others on the same topic with similar data.

[vahid1985]

thank you startz for answer my question.my dependent variable is Inflation and independent variables are oil export,nonoil export, inflation(-1),Liquidity and dummy variable.i think because of existence of inflation uncertainty and high risk R-squared is 0.59 but i wanted to ask other people and know their opinion