I don't think there is a definitive answer for this question. The behavioral and development specialists at the children's hospital where my sons PCP is all agree that co-sleeping is bad and should only be allowed as an exception to comfort a child on stormy nights or after other upsetting events. Their arguments are that it prevents children from developing confidence and independence that becomes crucial in early education, and the development of trust that even though they can't see mommy/daddy they are still there.
Still other professionals make the exact opposite arguments that the more nurturing co-sleeping reduces separation based stress which in turn promotes stronger development of emotional stability and key skills.
ThereI found a study from 2007 that states there is most likely some accuracy to both sides. I would read a few articles from both sides then play it by ear with consideration of your child's specific behaviors.
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