No I do not believe hitting kids will solve any problem. Maybe a little slap on the hand or something like that so he or she does not touch something dangerous for example, but other than that it is a big no.
Kids will mimic what their parents do to them, spanking them will only make them even more angry, hurt and will not build a trust relationship with the parents, instead they will fear them.
Kids are supposed to respect and understand parents, not fear them. When children are raised under fear the chances that they become bad adults is quite big, after all they will have iin mind that violence solves things, instead of talking and understanding each other.