I'd like to third what bruteforce said. Over at mwod, Kelly Starrett (and others, I'm sure) like's to say we're a system of systems. Often, low back pain is a hip issue, hip issue a knee issue, knee issue an ankle issue, or any combination of all of these and other areas.
Squatting more builds a very specific mobility. It builds the exact same motion as the squat. So if that's not what you're looking for, squatting more probably (it might) won't help.
Edit: Grammar. Why am I awful at typing on forums?
Last edited by Paradox; 01-23-2013 at 12:08 PM.