Twelve studies find that overall gains in charter schools are larger than other public schools; four find charter schools’ gains higher in certain significant categories of schools; six find comparable gains; and, four find that charter schools’ overall gains lagged behind traditional schools.
Source: Charter School Achievement: What We Know, July 2005 Update
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Download: 
http://www.ksg.harvard.edu/pepg/pdf/TAConfPDF/PEPG02-09%20TA%20Loveless.pdf
This paper analyzes student achievement in charter schools in ten states and examines the effect of various state accountability regimes on charter school performance. Charter schools in the study scored significantly lower on academic tests than regular public schools with similar demographics. Accountability policies were found to have failed in producing higher achievement in charter schools. Punitive policies, such as closing charters and imposing school sanctions, were negatively related to test scores. The study did find that test score gains for students in charter schools from 1999 to 2001 indicate that low achievement in charters may be a temporary condition that will change as charters have an impact on individual students over time. It was also found that in seven of the ten states, charter schools that do not target at-risk students do as well - based on test scores - as district schools.
Date: 2002
Source: Brookings Institution
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