The tremendous growth in the international trade is the visible outstanding expansions in the economies across the world. During the early 1970s the rise in the trade across the world augmented intensely which in early 1960s the global business grew in real terms to 0.45 trillion and in 1970s it was 3.4 trillion dollars and it increased to a factor of 7 trillion in the year 1990. The question which arises is what contributes to the growth in the world trade. The identified explanations for the same are a) technology-led fall in cost of transportation and b) trade policy liberalization.
It has been argued in most of the studies of transport studies that the main alteration in the twentieth century transport skill which was accountable for the rise in globalization of the global economy since 1960s was containerization. It has been seen in various studies that the period of international container acceptance in the global business which was in the period 1966 and 1983 coincided with the dramatic rise in the growth in world trade. But, on international trade a quantitative assessment of the impact of containerization is missing (Micco, 2006). As a matter of fact Mark Levinson (2006) in his well searched the influential past of the container rebellion, the importance of container on the world economy has been shown and how quantifying its impact is.