We characterize the proof-theoretic strength of systems of explicit mathematics with a general principle asserting the existence of least fixed points for monotone inductive definitions, in terms of certain systems of analysis and set theory. In the case of analysis, these are systems which contain the Σ12-axiom of choice and Π12-comprehension for formulas without set parameters. In the case of set theory, these are systems containing the Kripke-Platek axioms for a recursively inaccessible universe together with the existence of a stable (...) ordinal. In all cases, the exact strength depends on what forms of induction are admitted in the respective systems. (shrink)