If spanking worked, kids would quit doing shit that got them spanked. But they don't.
Besides that, kids aren't stupid.
"I'm going to spank you because you did something wrong."
"Didn't you teach me that violence is wrong?"
"Isn't spanking violence?"
"Shut up and bend over!"
My parents spanked me (rarely), and I can tell you that it had little to no positive effect on me. I was much more bothered when they took away stuff I liked, e.g. video games and computer time. Simple deprivation and boredom will make the point.