The Impact of Urban and Rural Pension Fund Expenditures on Residents’ Consumption Level in Guangdong Province—An Empirical Study Based on a Multiple Linear Regression Econometric Model

With the advent of the era of big data, the influence of the Internet finance and the digital economy is becoming stronger and stronger. At the same time, data analysis and cloud computing provide a powerful digital and scientific basis for the formulation and improvement of current social policies. The proportion of pension fund expenditures has always been in the first place in the social insurance fund expenditure. It is of great practical significance to statistically analyze the impact of pension fund expenditures on residents’ consumption in Guangdong Province. This paper selects six variables, such as urban and rural pension fund expenditures and residents’ consumption level, in Guangdong Province from 2010 to 2019, uses the statistical software Stata for data analysis, and establishes the OLS multiple regression model. At the same time, the empirical analysis shows the relationship between urban and rural pension fund expenditures and residents’ consumption levels. The data shows that the OLS model has passed the 1% significance level and has a good fitting effect. The modeling result with a high fitting degree further confirms the conclusion that increasing the expenditures of urban and rural pension funds can improve residents’ consumption level, which provides scientific and solid digital support for the development of the “Internet plus pension industry” in Guangdong Province.