Due to the limited storage capacity and network bandwidth, an efficient rate control (RC) algorithm becomes more and more critical for multi-view video coding (MVC). Based on inter-view dependency and spatio-temporal correlation, a novel bit allocation method for multi-view texture video coding is proposed in this article. Firstly, considering that the distortion in the base view (BV) is directly transmitted to the dependent view (DV) by inter-view skip mode, a joint multi-view RD model is built based on the inter-view dependency. Based on the proposed joint multi-view RD model, a precise power model is derived to represent the target bitrates relationship between the BV and the DV. Secondly, since the P frame in the DV (P-DV) is mainly predicted from the corresponding I frame in the BV (I-BV) by disparity compensated prediction (DCP), the constant proportional relationship between the ratio of the average bitrates of the P-DV to the corresponding I-BV and the ratio of the total bitrates of the DV to the BV is discovered. Based on this discovery, a novel linear model is developed to assign the target bitrates of the P-DV. Finally, considering the spatio-temporal correlation, a new parameter prediction method is proposed for the R-$\lambda $ model in coding tree unit (CTU) level. Extensive experimental results show that the proposed overall method outperforms other state-of-the-art algorithms in terms of RD performance.
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