This question was studied, scientifically, from 2005 to 2010, by researchers at Vanderbilt University in Nashville, Tennessee. The answer?
A quote from the summary of the study:
“We designed POINT in this manner not because we believed that an incentive system of this type is the most effective way to improve teaching performance, but because the idea of rewarding teachers on the basis of students’ test scores has gained such currency,” Springer said. “We sought a clean test of the basic proposition: If teachers know they will be rewarded for an increase in their students’ test scores, will test scores go up? We found that the answer to that question is no.”