This paper builds a new quarterly database about capital flows management (CFMs) measures for 20 emerging countries from 1960 to 2018. The CFMs index aims to provide a systematic, cross-country, and cross-temporal quantitative measure of capital flows management with the objective to understand how these policies affect cross-border capital flows. It confirms that the liberalization of capital account follows the priority of FDI, portfolio and debt flows and the control on residents’ flows is more tightening than nonresidents’ flows. The results indicate that the higher level of CFMs is associated with the higher magnitude and volatility of capital flows. Debt flows is more sensitive to decrease in response to the tightening on CFMs.