Panel data

[Antonia7]

Hi SAS community, 

I am currently working on my master thesis in which I use panel data which I analyse with SAS. 
I am using an 2SLS instrumental variables regression and I have some problems understanding the output. 
I get extremly large standard errors for all my coefficients (some are above 1000). 
When I look at the Log in SAS it shows me the following note: 

At 2SLS Iteration 1 convergence assumed because OBJECTIVE=2.100781E-22 is almost zero (<
1E-12).

Does anyone know what this means? And is that the reason why I get such high standard errors? 
Do you know what I have to do in order to fix this? 

This is the code that I have used: 

PROC MODEL DATA = region;
ENDOGENOUS OSS;
INSTRUMENTS OSSLAG1 LOGGLP NEW MATURE Adhikar AnnapurnaMicro Arohan ASAIndia Belghoria Dhosa Jagaran Mahashakti SaharaUtsarga Saija SebaRahara SMGBK UttrayanFinancial;
LOGALBB = beta1 + beta2*OSS + beta3*LOGGLP + beta4*NEW +beta5*MATURE + beta6*Adhikar + beta7*AnnapurnaMicro + beta8*Arohan + beta9*ASAIndia + beta10*Belghoria + beta14*Dhosa + beta15*Jagaran + beta16*Mahashakti + beta18*SaharaUtsarga + beta19*Saija + beta20*SebaRahara + beta21*SMGBK + beta23*UttrayanFinancial;
fit LOGALBB/ 2sls;
RUN;

Thank you very much for your help! 
Any help/suggestion is highly appreciated! 

[kessler]

Although the subject of your posting is "Panel data" I don't see how the panel structure of your data is spcified in your PROC MODEL estimation. PROC MODEL does not have built in facilities to handle panel data for this model.

The large standard errors may be a symptom of collinearity in your data for this model. The message about convergence indicates that the data may underspecify the parameters in your model as well. To know for sure what's causing these results it would be necessary to examine the REGION data set you are using.