Which economic model advocates that developing countries should prioritize import substitution over free trade to promote economic development?

The correct answer is Import Substitution Industrialization.

Understanding the Economic Models:

1. Import Substitution Industrialization (ISI):
Import Substitution Industrialization (ISI) is a trade and economic policy advocating that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The strategy emphasizes replacing imports with domestically manufactured goods to foster self-sufficiency and foster local industrial growth, particularly in developing nations.

2. Comparative Advantage Theory:
Formulated by David Ricardo, this classical trade theory suggests that countries should specialize in producing and exporting goods that they can manufacture relatively more efficiently, while importing goods where they have a comparative disadvantage. It supports free trade rather than protectionism.

3. Neoliberalism:
Neoliberalism promotes free-market capitalism, privatization, deregulation, and free trade with minimal government intervention, directly opposing protectionist policies like import substitution.

4. Export-led Growth Model:
This strategy aims to speed up the industrialization process of a country by exporting goods for which the nation has a comparative advantage, seeking integration into global markets rather than restricting imports.

Conclusion:
Because the question asks for the model advocating that developing countries prioritize replacing foreign imports with domestic production, Import Substitution Industrialization is the correct choice.