The Cobra Effect refers to the unintended negative consequences of an incentive that was designed to improve society or individual well-being. The term derives from an attempt to eradicate snakes in India, wherein people bred cobras to collect rewards for their capture.
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Pakistan’s default risk drops 93% as CDS spreads hit multi-year low
Investor confidence rises as CDS spreads recover to May 2022 levels, paving the way for Pakistan’s re-entry into global markets