Beyond Binary: A Policy- Intensity Measure of Capital Flow Management Wenjie Li WP/26/21 © 2026 International Monetary Fund WP/26/21 IMF Working Paper Strategy Policy and Review Department Beyond Binary: A Policy-Intensity Measure of Capital Flow Management Prepared by Wenjie Li Authorized for distribution by Michele Ruta February 2026 IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are ...