In pursuit of enhanced employability of university graduates, along with their increased mobility in a rapidly globalizing economy, colleges and universities in the world today participate in regional alliances and partnerships in which shared targets with mutually recognized degrees and curricula are sought across boundaries through transnational higher education policies. The Bologna Process is certainly exemplified as one of the most important multilateral efforts in the recent history of higher education, in establishing such a system of quality assurance within the European Higher Education Area. Although the member states of the Bologna Process endeavor to meet the common benchmarks on the preset assessment criteria, the speed of policy implementation is found to widely vary across the participating countries. This paper attempts to identify the sources of discrepancies in achieving the common policy targets among the member states and explore in particular the extent to which varying stages of socio-economic as well as political development, along with indigenous ethnic and linguistic complexities, affect the robust progress of implementing multilateral higher education policies. Our findings generally suggest significant impacts of these indigenous factors.