I wouldn't generalize and say a solid yes. There are some pretty pathetic older parents out there, so advanced age doesn't guarantee good parenting - it all depends on the individual person.
Having said that, someone who is, say 17, also *usually* doesn't have the maturity and experience of an adult, and so they may not be the best parenting material yet. But as long as they have common sense and a good nature, how much "worse" off can a young persons' kid's turn out?
It just depends on the individual.