Before the foundation of this academy, other institutions with similar responsibilities and goals existed in Spain, such as the
Consulates of the Sea and the
Royal Barcelona Board of Trade, but the political and economic instability caused the incessant creation and suppression of this kind of institutions. At the beginning of the 20th century, the idea of creating a scientific-cultural institution in economic, financial and commercial matters bloomed again, also in Barcelona, but the
civil war disrupted those plans. After the war, in 1940 the Academic Society for Economic-Financial Research was established and, in May of that year, the
second government of Francisco Franco formalized its constitution, renaming it as "Academy of Economic and Financial Sciences". The Governing Board fully gathered on 19 February 1943 at the
Ateneo Barcelonés. On 3 January 1958 new regulations for the institution were approved by the
Ministry of National Education, this time adding the title of "Royal" to its name. After the restoration of the monarchy in 1975, King
Juan Carlos I ratified this point by Royal Decree of 7 December 1979, and he visited the academy for the first time on 16 February 2004. In April 2017, the RACEF incorporated to the
Institute of Spain. == Presidents ==