Dear all,

I want to ask you about results of fixed effect and CCEP/CCEMG.

I regressed my variables using FE two way (with command xtreg) and found that my variable of interest and control variables significant.
However, I did the test of cross-sectional dependence for every variable and found them to be cross-sectional dependent.

For that reason, I decided to regress again using CCEP and CCEMG. However, I ended up with all my variables become insignificant.
Can someone help me if it's actually normal?

Thanks a lot