We set up a small open economy model base on Letendre and Luo (2007). The model includes neutral technology shocks and investment-specific technology shocks and is calibrated to annual Singapore data. We find that the investment-specific change may be an important factor of the output growth in the long run, but is not helpful to explain the fluctuation of the output. The impulse responses of the selected variables to the nuetral technology shock is larger than the investment-specific technology .In addition, the model can match the sign of the data moment but cannot match the data moment very well.