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The Rational BelieverChoices and Decisions in the Madrasas of Pakistan$
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Masooda Bano

Print publication date: 2012

Print ISBN-13: 9780801450440

Published to Cornell Scholarship Online: August 2016

DOI: 10.7591/cornell/9780801450440.001.0001

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Informal Institutions and Development

Informal Institutions and Development

Chapter:
(p.204) 9 Informal Institutions and Development
Source:
The Rational Believer
Author(s):

Masooda Bano

Publisher:
Cornell University Press
DOI:10.7591/cornell/9780801450440.003.0009

This chapter summarizes the core arguments around the working of madrasas and Islam in Pakistan, and notes the relevance of these findings for deepening our understanding of informal institutions in general. It demonstrates their particular significance for students of both theory and practice of international development. Drawing on empirical evidence on the workings of Islam, as represented through the choices and decisions of actors within the madrasas of Pakistan, this book provides an understanding of the workings of informal institutions and thus demonstrates the strength of the New Institutional Economics (NIE) analytical framework in explaining a noneconomic institution. In the process, it shows the adjustments that need to be made to the core assumptions of the classical rational choice theory if this is to act as a unifying framework across the social sciences.

Keywords:   madrasas, Islamic schools, Islam, Pakistan, information institutions, New Institutional Economics, international development

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