Luther's rebellion against the corruption of the Roman Catholic Church effected some reform regarding the granting of indulgences and other areas of corruption in Catholicism. Of course, with the splintering of Christianity into various sects, there were many repercussions. Evangelical sects began to form after the Protestant Reformation, and countries such as France and England were fraught with religious conflicts as the radical Hugenots and the Anabaptists were in conflict with the ruling Catholics and the Anglicans.
The long term effects of the Protestant Reformation have been religious and political, indeed. One only needs to look at the history of Ireland, once a Roman Catholic country unified, but when the Protestant English came in and dominated, there were longlasting conflicts between Irish Catholics and their oppressors.