One is that legislators devote considerably less time to budgeting in parliamentary democracies - interminable budgeting is largely an American phenomenon. The other finding is that annual budgeting is a product of custom and tradition, not fiscal theory.
Parliamentary democracies feature a more unified government structure.
Moreover, reliance on a parliamentary structure is not the only way other nations achieve budgetary stability. Nearly all employ multiyear budgets for certain expenditure categories such as military spending. The roots of annual budgeting are not found in economic or political theory. Rather, this fiscal period was initially employed because it corresponds with a full cycle of nature's seasons. The practice of annual budgeting may have considerable merit in an agrarian society.