In this paper, we propose an effective stereo-view video coding method that considers stereo-view and displayer characteristics. Current many stereo video displayers are designed for not only stereo display but also conventional single view display. In these systems, the resolution of two input videos for a stereo mode is half of that of single view for compatibility with conventional single view video services. In this raper, we propose a stereo video codec to deal with both single view and stereo view services by encoding whole left image and down-sampled right image. However, direct disparity estimation is not possible between two views because the resolution of a left image is different from that of the corresponding right image. So, we propose a disparity estimation method to make use of full information of the left reference image without down-sampling. In experimental result, we achieved $0.5{sim}0.8;dB$ coding gain, compared with several conventional algorithms.