Coaches and games played are the only two factors you can control in a players development. Calling a prospect up to the majors will not hinder development. If anything, it will make it more likely your player develops fully (better coaches), assuming he's playing everyday. If he's going to platoon or spot start in the majors, keep him in the minors to get maximum playing time.
The only reason I keep a stud in the minors is if my team is still a season or two away from contention and I want to line up all my prospects to fire on all cylinders at once.