We don't recommend having two repositories with the same name.  This can lead to unnecessary confusion especially if you have the ability to log in to both repositories from the same client.  You will be unable to distinguish between the names in the available repository list when logging in.  You can make the names very similar with something like "Repository Name (Prod)" and "Repository Name (Dev)" which will help to eliminate any confusion while still making things easy for you moving work from the development environment.