THERAVĀDA Pali, lit. “teaching of the elders of the order”; Hīnayāna school (also called the Pali school) belonging to the Sthavira group, which developed from the Vibhajyavādin school. It was founded by Moggaliputta Tissa (Buddhist council) and brought to Ceylon in 250 B.C.E. by Mahinda, where it was propagated by the monks of the Mahāvihāra monastery. Conflicts over disciplinary questions led to schisms within the Theravāda. Today the Theravāda is widespread in the countries of Southeast Asia (Sri Lanka, Burma, Thailand, Kampuchea, Laos, etc.).
Theravāda, today the only surviving school of the Hīnayāna, regards itself as the school closest to the original form of Buddhism. Its canon, composed in Pali, comes according to the view of the Theravādins, directly from the mouth of Buddha (Tripitaka). The teaching of the Theravāda consists essentially of the four noble truths, the eightfold path, the doctrine of conditioned arising (pratītya-samutpāda), and the doctrine of anātman. The emphasis in the Theravāda is on the liberation of the individual, which takes place through one’s own effort (in meditation), and through observance of the rules of moral discipline (shīla) and leading a monastic life. The arhat is the ideal figure of the Theravāda.
In the Theravāda, which exhibits a strongly analytical bent, the Abhidharma is of great importance. Important non canonical works of this school are the Visuddhi-magga and the Milindapañha. Among its outstanding dogmatic theorists are Buddhaghosha, Dhammapāla, Anuruddha, and Buddhadatta.
Source: The Encyclopedia of Eastern Philosophy and Religion: Buddhism, Hinduism, Taoism, Zen. Shambhala Publications, Inc.
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External Links: Branches of Buddhism / Schools of Buddhism / Early Buddhist schools / The eighteen schools / Theravāda