Hello dear al,

I face a problem when I run a dynamic GMM model for a panel data. My research is about the relationship between financial development level(DIFI) with the poverty level(POV).As for my model, POV is the dependent variable, DIFI is the independent variable,HLW IS UR and GOV are the control variables. GAP and GDP are the instrument variables.
The first problem is that the Stata always illustrates a warning(Number of instruments may be large relative to number of observations).


The second problem is how to introduce individuals' fixed effects into a dynamic GMM model? Which command should I use? I have looked through "help xtabond2", but I do not find some instruction related to this problem.

Thank you.
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