Louis, partly because of his exceptionally long reign, brought a kind of stability to France that had been lacking in the sixteenth century. He helped neutralize threats from Spain and helped France achieve a greater sense of national identity than it had enjoyed during the late 1500s and early 1600s.
In the short term, he strenghthened the French monarchy to a degree his successors were incapable of sustaining. He also launched a series of very costly wars of expansion that ultimately led to only slight (but significant, especially Alsace-Lorraine) French territorial gains in Europe, and a net loss of territory in the New World. In the long term, he established an administrative system that would eventually break down by the late eighteenth century, provided an example that his successors would bankrupt the country trying to emulate, and eliminated Protestant presence and influence for the most part in France.
In the short term, Louis managed to take a great deal more power for the French monarchy and to create a system that was as close to absolutism as any in Western Europe. You could argue that, in the long term, his actions helped to cause the French Revolution.